| Show GLASGOW WESTERN conditions all of the direct and subsidiary interests of the glasgow western exploration company limited are being realized upon and at the present time active negotiations are in progress for the disposal of the various properties identified with this concern the properties owned by the above company consist of the montreal situated near milford beaver county utah and the copper canyon and copper basin groups located in lander county nevada the former twenty and the latter seven miles distant from battle mountain the adelaide star mines ltd was a subsidiary company of the glasgow western and was incorporated for the purpose ot or operating the adelaide mine situated near golconda nevada and the star property distant about four miles from the cherry creek station of the nevada northern railway white pine county nevada on november 1 1913 the star property was taken under option by the nevada star mining company which company was i formed for the purpose of operating t the amalgamated properties of the star mine and an adjoining property on the west known as the nevada british three pay ments have been made on the star toy by the nevada star company and the fourth ana last payment is due rm on february the adelaide property of the adelaide star concern is now in the market for disposal under terms of cash or lease ane and L bond together with the twelve miles of rail way connecting the mine with the golconda J station of the southern pacific and when any form of satisfactory transfer can be accomplished in relation to this property the adelaide star mines ltd will be at once wound up by voluntary liquidation the glasgow western exploration company limited has been placed into liquidation qui dation in glasgow and a general winding up and realization procedure in relation to all assets is now in progress when this company was placed into liquidation inn in scotland on the of f march 1913 the purpose then in view was that of reorganizing affairs and of incorporating a new concern to develop the various mining assets which existed and in furtherance of which purpose active development of the montreal property was taken in hand last june and for which work an appropriation ol 01 was tentatively sanctioned before the legal requirements of the new company could be perfected however and atter alter approximately had been expended on the montreal all of the new plans for reorganization and development were summarily arlly terminated through the death of the gentleman most actively interested in the reorganization procedure the unexpected circumstances which resulted in a forced readjustment of procedure in relation to the glasgow western exploration company limited was one which had a far wider significance than that of purely domestic influence and one which h affected local mining interests in a tar far greater manner than might be generally ap precia predated ted of the past experience of this j ill starred concern it is redundant to corn com ment upon in the autumn of 1912 the home manage J ment engaged mr joseph ralph of london for consultative purposes and later on sent him to this country to make an examination of conditions on the spot the broad gist of mr ralphs advice to the glasgow interests was along the following lines a sell out everything without delay exactly as things stood and to liquidate b patent all claims that were worthy of that attention 1 and to let the properties lie until 1 fortuitous conditions presented themselves by which a realization could be secured commensurate with potential value W c wind up the old company and capitalize fl a new concern with sufficient resources to continued on page 33 GLASGOW WESTERN continued from page 24 meet conditions and to develop the proper ties it was along lines of the third suggestion upon which adoption was made and in march 1913 mr air ralph was again sent to this country for the purpose of liquidating aff affairs airs as they then stood and to take up 1 the plan of energetically developing various properties and it was in line with this broad plan of operation which mr air ralph devoted his attention towards and the work at the montreal was the first result of this plan of campaign this work was in full swing when a cable was received in the middle of last september notifying of the death of the guiding financial interest in these affairs and instructing mr air ralph to close down everything and prepare to dispose of the properties |
