Show 1 EL Y j MEETING CALLED Planned PI ned to Make the Company an Assessable One Reasons Given In a letter to stockholders calling Galling at attention attention attention td t the special meeting that that is to tobe tobe tobe be held on the of ot this month the company explains the ne necessity necessity necessity of so changing the articles of incorporation that it will be possible to assess the stock The letter tells of at atthe the valuable holdings which the cn cern pany has acquired since the company was organized on the original eight claims of ot how certain individuals in inthe Inthe inthe the company have had to make mak pe vi vial al advances of large sums of money monet to protect these holdings since it became I Impossible to sell treasury tr stock as a result of oC the financial slump and it I urges that all aU stockholders support the proposition to make the stock assessable assessable ble so that all may bear an equal share of the burden burd n of holding on to the ex extremely extremely valuable acquisitions The let letter letter I Iter ter says As you are doubtless aware when I the company was formed and its stock placed upon the he t market it owned eight mining claims namely the Justice I Savage Groop Rattler Lead King United States Mint Oakland and Oak Oakland Oakland Oakland land Fraction mining claims and had hadan hadan hadan an option to purchase what is known km wn as the Dickerson group of ot mining claims consisting Selma No 1 Selma No 2 Selma No 3 Dickson No NoI 1 I Dickson No 2 Dickson No 3 Moun Mountain Mountain Mountain tain Maid and Gold Reef ReeC mining claims Since the company was launched and its stock placed upon the market and a portion of oj the treasury stock dis disposed disposed disposed posed of ot the company d has secured op options options options to purchase what is known as the Tempest Harmon Fraction Queen of o othe the West Nest and Panama lode mining claims also what is known as the Heusser ranch and water right The Queen of the West Harmon and the Tempest are situated most fa favorably favorably favorably and in the center of the minerai mineral min mineral eral belt of the Ely district The ranch consists of acres of oC land and a very valuable water right connected there therewith therewith therewith with withIn In making payments upon the pur purchase purchase purchase chase price e for these various proper properties propertIes properties ties the company compa y has exhausted the funds derived from the sale of treasury stock and has been compelled to row very considerable Bums sums of ot money mone money from certain of ot the individual stock stockholders stockholders stockholders holders There is still a considerable amount unpaid on the purchase price of the various properties held under bond and if it the company to secure absolute title to these proper properties properties properties ties some method of securing the necessary necessary necessary essary funds in order to complete the payment must be devised It would seem that the most equitable ble and fairest way to secure these funds is for each and every stockholder to contribute bute his proportionate amount In this way wa the burden fall each alike in n proportion to his holdings In Inthe Inthe the company and no n one is taxed be beyond beyond beyond yond his just proportion The company In the opinion of ot those who are familiar with its prop property property property erty has lias very valuable assets and it only requires the expenditure of ot a comparatively comP of money to complete the title and place the company upon a sound footing The future of the camp of Ely is assured beyond all controversy In the very ver near future it will be equipped with milling and smelting facilities which will enable a n vast of ot ore oreto oreto oreto to be reduced and converted into bul bullion bullion bullion lion The camp gives promise of being able to 10 afford atford a tonnage of ot ore which the present facilities will be entirely inadequate to handle and which will therefore require the erection of f addi additional additional additional milling and smelting smelt g facilities The water owned by you youn company is isan Isan Isan I an asset as stated stat d before b fore of ot very great value The ranch affords an ideal site for milling and smelting fa facilities facilities with abundance of ot water for both purposes and the title to this as aswell aswell well vell as the mining properties should be perfected with the least possible de delay dela delay lay la The Th present articles of Incorporation not do not provide for any means of oC rais rats raising raising ing money by assessment and In order to make the stock assessable it will be essential that the articles of ot incorporation tion be amended This will require a vote of the outstanding cap capital capItal ital stock and it Is hoped and desired I that no stockholder will oppose the amendment and thus stand in the way I of financing the company and placing it in position to secure the necessary funds to complete the purchase of ot the property held by it and affording means to properly develop and equip the property |