Show NEVADA UTAH reorganization eastern officials of the consolidated consolidate d ne vada utah corporation controlling properties in pioche nevada have issued a statement covering some details of the reorganization by which that company was formed the statement follows through the consolidated nevada utah corporation the pioche and other mining properties formerly owned by the old ne vada utah blines and smelter corporation have been reorganized about 50 per cent of the old companas comp anys shares totaling 1 paid the 50 cent assessment thereby making available for carrying out reorganization approximately the properties were bid in at receiver s sale for while approximately additional was spent in corralling other collateral including shares of subsidiary companies this left available for reorganization expenses and development work about the new company has shares par 3 and income bonds the new management has pledged itself to carry forward an extensive program of development work and has retained as consulting engineer allen alien H rogers who some months ago made an examination of the property none of the executive officials will draw salaries until the property has demonstrated that it can pay them from earnings some of the upper levels of the property at pioche have been leased since last tuly july and between twenty and thirty cars of ore monthly have been shipped on a royalty basis A period of fully eight months will elapse before the program mapped out for the development work will be completed |