| Show UTAH METALS TO RESUME in commenting on the affairs of the utah metal tunnel company operating at bingham utah the boston news bureau says A syndicate including L E stoddard W H coolidge H G lapham and F H prince has purchased from the utah metal tunnel company shares of stock at 4 per share this stock is part of shares held by the company for the conversion of the 7 per cent bonds authorized by stockholders early last spring and which were convertible into stock at 1 50 per share the company converted of its bonds into stock exchanged for a like amount of 6 per cent bonds which matured april 1 and still has I 1 about bonds in its treasury this will give utah metal shares of stock outstanding will pay off the floating debt approximately and will leave the company or thereabouts with which to renew mining operations W E L dillaway who has been fled with the company for some time in the capacity of chairman of the executive committee managing director and treasurer will retire from active management and an engineer who is familiar with the district will take the managerial helm mr dilla way will still be connected with the company however as treasurer and counsel utah metal tunnel companas Comp anys mine mille and mill are in such shape that production can be commenced almost immediately probably the first operation will be started in the western part of the mine the whole of which country with its numerous lime beddings is now free to the utah metal tunnel company all question of apex rights with its neighbor utah consolidated having been amicably settled in addition mining also will be begun in other territory where the mining rights of the utah metal company have been conceded this is a silver lead country carrying high values in gold and silver announcement will soon be made of the names of the new officials of the company together with names of those who will be added to the directorate while mile this financing gives interests now dominating utah metal outright ownership of shares of stock these same parties are known to control a substantial amount of additional stock indeed the total stock hod lings of the syndicate ar are e in the neighborhood of shares |
