Show PARK BIG MINE MERGER BEING officially WORKED OUT details of the bi big 6 park city mines merger which were outlined in the mining Z reviews february issue are now receiving b official verification in a letter to the stockholders of the judge b mining 6 smelting smelling Sm elting company sent out and signed by the directors of tile the company otto luedeking moylan C fox adolph G E hanke wm taa M bradley and george W lambourne the capitalization of the new park city mining smelting smelling Sm elting company is given while the letter does not give any intimation of what kind of a proposition may be made to other park city mining concerns to go into the combine the basis on which the daly west has gone in and the terms under which judge mining smelting smelling Sm elting is invited to enter are announced the advantages that are expected to accrue through the merging of companies are set forth in considerable detail and the natural presumption is that it will not be long until other park city companies as predicted by the mining review a month and half ago ago will have received official invitation to go in here is the full text of the letter the park city mining b smelting smelling company was in incorporated corp orated under the laws of colorado february 1922 with a capitalization of divided into shares of non assessable stock at par value colorado was selected as the place of incorporation because in consequence of recent legislation it has the laws and regulations most favorable for mining corporations the new company is authorized under its charter to acquire and operate mines concentrators reduction plants smelters shelters sm elters power plants and transportation lines its plans include the ultimate acquisition of various properties in the park city district and their operation on an enlarged scale the only stock thus far authorized for issue is in exchange for the shares of the daly west mining company the remainder of the new companas comp anys stock is un issued it is not the intent to use any of it as a bonus or for underwriting or for promotion purposes the daly west mining company has already authorized conveyance of its property to the P park ark city IvI mining ining smelting smelling Sm elting company when the exchanges of the other stock above indicated ar are e completed authority will be sought to make sale or convey conveyance ance of the properties of the companies concerned to the park city mining smelt ing company the benefits to be derived by the stockholders of the judge mining smelting smelling Sm elting b company and by the stockholders of the other companies concerned in the judgment b of your directors would be numerous and should result in a g greatly beatly enhanced value to their holdings the financial rating of tile the pa park rk city mining smelt ing g company will be much greater than the aggregate ot of the e financial ratings of all participating interests because all operations will be e permitted on a coordinated co and more extensive scale the new company will have the advant ages es gained by an organization under the most favorable conditions and under state corporate laws I 1 that are most favorable for mining enterprises the coalition of interests will eliminate some of tile the tax x burdens and will automatically ameliorate the har hardship that at has heretofore been imposed on your property as an individual unit caused by heavy taxation in prosperous erous years without credit for the adverse years or for the years of excessive prospecting acting and development that produced that at prosperity it will place lace your property on a more uniform storm earning basis M and stabilize your you r invest investment men it wal result in in especially important financial gains to the participating companies because it will permit them to benefit by favorable contracts and agreements now held severally by then the park city mining smelting smelling Sm elting 6 i company will obviously be in a stronger st ronger position than your company to make new contracts and agreements Z because of the added power inherent in large business organizations in addition to the above advantages in business administration other important advantages will be derived from a strictly operating standpoint it will lower overhead cost it will bring closer relationship in operation and permit your company to benefit through use of the plants equipment and underground facilities of other properties it will permit development and exploration work to become more efficacious and systematic it will permit purchase of supplies at reduced rates through increased volume of buying present conditions furnish a reason why action should be taken at this time to bring the properties into closer relationship lation ship market conditions are stable and none of the properties considered is at present on an inflated basis A sudden disclosure of new ore conditions by any one of the properties might cause inflation and make consummation of the plans impracticable or even impossible your directors believe this is the time for mining companies to put their affairs in the best possible shape to take advantage e of future activity in the metal market and to broaden the field for shareholders by making the importance and merit of the park city mining district better known and better appreciated it is therefore the intent to list the shares of the park city mining smelting smelling Sm elting company on the boston and the new york exchanges the management of the park city mining smelting smelling Sm elting company is in 6 the hands of those who now direct the affairs of the judge mining sm smelling smelting elting company share basis of trade will be ta taken ken stock the daly west mining 6 company over in exchange for shares of the park city mining the intent is to take over the Sm company smelting elting elfing basis judge mining smelting smelling Sm elting company stock on the of and one fifth shares of the park city mining one company stock for each share of J judge mining smelting smelling Sm elting 0 valtia valuation tion basis representing presenting a re this smelting smelling Sm elting company conigan y 6 of the judge b mikii mining ar smelting smelling Sm elting company equivalent to two and two fifths times the kalua valuation tion of the daly west mining company interested and themselves heavily your directors are the largest stockholders of your company also represent re presen t b themselves individually con consented confente d to the same exchange have recommended to you and will exchange their b the same basis as all precisely shares it in your company on the holders of the in company stockholders your other majority of stock in the judge 6 mining 6 smelling smelting Sm elting tint 0 company have already expressed themselves in favor of the action and will so exchange their shares but ased pr proposed 0 p from all shareholders and the directors desire an expression enclose herewith form and return envelope lor mar mai purpose to have the transaction completed it is advantageous date and you are requested ested to make known at an early steel plate certificates of the park wishes promptly your the bos city mining smelting smelling Sm elting company acceptable to exchange and th the e new york curb exchange Z are now to ton n available for issuance about april b eing made and will be 1922 if desired stockholders ma may V at this time mail their certificates for transfer and receive in in e exchange certificate f ica te for one one at and id one fifth times as many shares of tile the park city mining smelting smelling Sm elting company |