Show NEWHOUSE MINES ANDS AND SMELTERS MELTERS boston financial news the trust company of america as trustee under the mortgage has bid in the pr property OP of the newhouse mines smelters shelters Sm elters for the work of completing the reorganization is nearing an end and as soon as the south utah mines smelters shelters Sm elters company is organized and ready for business operations at the mines will be resumed resumed the new company will have a cap capitalization vitalization of 4 consisting of shares par at 5 of this stock shares will be issued and held in the treasury for the conversion of the of the 20 year 6 per cent convertible income bonds which are convertible into the new stock at par up to the present shares out of outstanding of the old stock and of the of bonds have been deposited in accordance with the reorganization plan the board of directors of the new company will be appointed by the reorganization committee and the new board it is expected will be selected soon and will name the officers of the new cui horation po ration it is said that the mill at the mine has been placed in first class condition and will be able to make a high saving which in comparison with the old mill should yield a good profit in itself development work at the mine has not been neglected since production was suspended and everything is said to be in readiness for the beginning of a new era at the mine |