Show SILVER KING CON TAKES OVER CALI FORNIA COMSTOCK officials of the silver king consolidated mines company have called a special meeting of stockholders to be held in the com banys offices in salt lake on january it is for the purpose of amending the articles of incorporation so as to increase the capitalization from shares to 1000 shares the par value to remain at 1 as at present the letter accompanying the notice not only explains the reason for the increase but also confirms the rumor that this company is the actual purchaser of the cali fornia comstock property adjoining the sil ver EC king ing consolidated holdings at part para city utah the letter says in part 1 the interests of the company and of of yourselves as its stockholders will be best served by the increase proposed in our judgment the present capital while chent for the company in the earlier stages of the development of the companas comp anys prop erty is no longer in keeping with the magnitude V of the enterprise or property and an increased capital should be provided to enable the company to properly finance it self and to prosecute on a larger scale and with greater expedition the development of its presently owned extensive and valuable hhaynes Th aynes canyon territory by means of and through t h the spiro tunnel and a conn connecting acting ting shaft to be sunk to the level of the tunnel i at a point far in advance of the present face of the tunnel so that the tunnel work may be prosecuted in both directions at the same time shortening the period required to complete the tunnel by many months affording an emergency exit for safety of workmen furnishing furnis ning proper air connection to cheapen cost and reaching quickly at comparatively early date the extensive ore n systems and bodies in the hhaynes Th aynes canyon 4 properties of the company in addition to its original hhaynes Th aynes canyon territory the company during the comparatively ively recent past has acquired and owns the ferry ranch property protecting operations at the mouth of the tunnel and also its modern and effective milling plant and tramway and also the silver bell group of mining claims the Old oldham liani group of mining claims the russian bear group of mining claims and the C C consolidated group of mining claims with its large mill J ing plant and equipment including a double compartment shaft in good order now feet deep connected with underground workings which have developed ores in very con sid erable quantity all these properties will s 4 materially contribute to the continued sue cess of the company and the hhaynes Th aynes canyon property holdings of the company are now fully protected all of the recently acquired properties have been fully paid for without incurring any indebtedness to raise money to pay the purchase price except as hereafter stated the title to the california comstock group of mining claims has been acquired only a few days ago and the purchase price of 00 has been paid but to raise the amount an indebtedness was incurred which will have to be paid during the present year the acquisition of this property was deemed very desirable not only for the intrinsic value of the property but as a means of preventing litigation it |