| Show BLACK UK JACK AND ANDi i STAR Sins CON DEAL Plan of Merger of Mines Is s Made Public by Star Con Company SPECIAL MEETING CALLED MATTER WILL BE SETTLED ON MAY EIGHTH The merger plan of the Star Consoli Consolidated Consolidated Consolidated dated and Black Jack properties at Tintic and the consolidation of the two com corn companies ponies is at last made macic public It op up pears in an official call for a special meeting of the shareholders of or the Star Consolidated company Wand and is practically practical on the lines made public in this ment several weeks ks ago and which everybody but The Herald Herold got busy bUB to deny Immediately afterward The spec special f specIal pe I ial meeting is to be held on the of I the coming month and anil for fear that someone may ma raise an objection to the way tray the proposition might be he explained the language of the call is quoted as fol tel follows follows lows Terms of the Deal Said meeting is b called and will be held to consider and upon a proposition submitted bl b tJ Black Jack Mining company of Utah to abe effect that for forand forand forand and in consideration of a good and anti suf deed de of all mining ground real estate and personal property owned by b the Star Consolidated Mining company free of liens and debts of every Kind to the Black Blaek Jack Mining company com pan said Black Jack Jacle Mining company will amend its articles of incorporation so as to in Increase increase crease Its capital stock from shares hares to shares of the par value alue of or per share assessable and for its stockholders shares of said uld capital stock and issue and deliver to th Star Consolidated Mining company com pan for lor its stockholders shares of said sad capital stock The Black Jack Mining lining company compan agrees to pay pa off oft and discharge all of Its debts and liabilities up to the time of re receiving the property owned by b the Star Consolidated company The rhe board of ot directors believe bellee that the treasury treasur stock now no held beld by 1 this company can be sold Bold for sufficient money to pay all debts and liabilities and if this can cin bv bo done the stockholders will receive share shan for share on their present hold legs ings Willie lIle hiie the call for Cor the meeting is clear clearon on the plan of merger and while it shows that each property i to go into the th proposition clear of ol debt no mention is made of or what the indebtedness of or either cither company compan Is and that probably is immaterial rial anyhow anho It is understood however that the th Black Jack company compan has some Borne something something thing like lIle Indebtedness s while the tile Star Consolidated hrs nearly double that sum I Combine a Desirable One That the tl move more to It a desirable one one that will wm be of mutual benefit to both companies all who know anything of it ere are ready to admit so IO there Is no qu tion Uon but bat that the proposition will go as planned Uncle JcSse Tese TeS c Knight the wizard of Tintic Ic practically owns I Ithe the Black Jack and the management manag ment of the combined properties will undoubtedly go to him The fixed expense of ing the two properties will be he little If Ifan any an greater than the individual cost of If f operating by b each company compan as it is This Tl MI in Itself is enough to make the lion Ion a desirable one hut but there thEra arc are many man ether advantages in the scheme worthy worth of consideration It Is understood that the Black Jack has hrs hasa a drift out to a point already close to Star Consolidated ground from one ne of its deepest levels and that it would not re rf require quire q lre a great deal of time to connect the workings of the two properties This would afford perfect ventilation at a great depth and permit of the unrestricted unrestricted unrestricted opening and development of a large larga area of rich territory Then Uncle I Jesse makes the proposition He is one of the most sa operators that ever eer mined In the camp and it Jt may be taken for granted that he will make something of the HIe proposition once he gets hold of or t not that good work has not been done by the present management ement of the Star Sta suca suc an nn inference would be unjust and untrue but hut Uncle Jesse has Illis been lucky luck in the district and he has a following that is ready nad to back his Judgment all the time |
