Show NEW COAL METAL AND OIL COMPANIES ARE PERMITTED TO SELL STOCK within the past two wo weeks eks the state securities commission has issued permits that will make inake it possible for several coal metal mining and oil companies to go ahead with their financing the most notable among the permits granted are those affecting the coal companies and they indicate that much money is to be spent and several big meritorious propositions are to be whipped into shape in ill the near future one of these is the great western coal mines company which has been granted authority by the commission to sell worth of securities this company has been organized in salt lake to develop a new property in the salina canyon district in which there are estimated workable coal measures conta containing inin tons this company has a capitalization ol 01 0 and has holdings of acres acres of coal lands a townsite range and timber lands as well as approximately 20 second feet of water located just above the utah C coal oal road in gordon creek the company proposes to sell worth of 8 per cent first mortgage gold bonds upon the following terms it is permitted to issue shares of treasury stock at a ratio of three shares for each dollar received from the loan of money company for reorganization organization re and and development purposes the company has the right to issue one share of treasury stock for each dollar invested in the bonds together with a sale commission of 20 per cent and an additional 5 per cent for advertising purposes the great western company aill will undertake to provide proper accommodations for miners on the acres owned as a townsite andon and on which the company proposes to erect houses which with the water rights it is estimated will net the company the total acreage in the project is of which about one fourth has been brought under cultivation yielding this year tons of hay gordon creek coal co also in line the gordon creek coal company organized at salt I ake with a capitalization of all of which is outstanding sell worth of was given permission to first mortgage mortgage 6 per cent bonds with a 20 per cent sales commission and an additional 5 per cent for advertising the property of this company is located west of the great western coal companas Comp anys lands and consists of acres of patented land and 1480 acres of government land subject to the regular royalty salina canyon company another I 1 the commission also has granted the salina canyon coal company permission to dispose of worth of the he companas comp anys closed first mortgage ten te year nye bond issue in utah the remainder of the bonds are to be sold in 1 maryland the entire capital stock consisting of is held by the officers Rol holdings dings consist of 1887 acres of coal land in the salina canyon and part title to acres of additional land nearby negotiations have been entered entered into to to lease acres additional land from the govern ent it is estimated that tha t tons of recoverable 1 coal underlies the property which is located on the new A branch ranch of the denver rio grande being constructed k sales les commission of 20 per cent is authorized new railroad to serve mines undertaken to the national railway c ty company has build bild the six and one half miles of railway necessary y to tap the great western national and gordon C reek creek properties the great western is to do all the Z rading grading for the road at an estimated cost of for which stocks and bonds will be given by the railway company upon completion this road is to be taken over by the utah coal road on the opening up of these three additional coal properties equitable coal co a mutual concern the equitable coal company of salt lake organized with a capitalization of in 10 shares was authorized by the commission to sell shares at par for the purpose of opening up and developing its property near the castle gate mining district no 2 basic assets consist of acres of coal land on which a diamond drill has disclosed a 28 foot vein of coal according to the report of the commissions secretary it is the plan of this company to operate as a mutual company and to sell the stock to men who will be in position to accept the agency for the coal and handle thecial the coal on the general market and to operate coal yards in the different cities and towns the permit to sell worth of securities is granted with a sales commission of 15 per cent under the agreement that as soon as the securities curi ties have been sold the company will apply for a permit to sell enough additional addition alt stock properly to open up the properties which is estimated at permits to metal mine and oil cos the commission authorized the copperopolis mining company of park city to sell shares of stock at 5 cents the stock to be sold at the companas comp anys offices without commission the company has 12 lode mining claims in the blue ledge mining district |