Show SILVER KING CON STOCK directors of the silver king consolidated mining company have addressed a letter to stockholders giving them the privilege of subscribing for three shares of treasury stock for each seven shares of their respective holdings at the price of 2 per share the new stock was created by an amendment to the articles of incorporation adopted january 33 st and the purpose of the sale is to provide for the development of the companas comp anys hhaynes Th aynes canyon territory embracing 90 per cent of its total acreage the capital stock is increased from TOO to shares the last increase made in 1913 was from to the new stock at that time was taken up quickly by shareholders and has since yielded in dividends the letter notifying the stockholders of the allott ment says the subscription price of the allotted stock has been gauged by the sum required to liquidate the obligations assumed in purchasing new territory and to open on a large scale the mineral resources of our major holdings we have no hesitancy in expressing our opinion that the difference between the price stated and the expected market value of the stock resulting from the proposed development will yield a substantial premium to those who by their subscriptions script ions furnish the capital for the work the new territory mentioned is the calif california ornia comstock group of acres which includes a mill shaft and considerable tonnage of developed ore the principal development contemplated it is understood is the completion of the spiro drainage and transportation tunnel now in more than a mile and proceeding at the rate of fifteen feet daily toward the california com stock and other westerly holdings of the company |