| Show ALTA MERGER CALLS FOR ac A SHARE TO WIPE OUT indebtedness directors of the alta merger mines company have lev aed cd an assessment of five cents a share delinquent october 24 sales date november 14 0 this step has been made to protect the interests of the stockholders said president and manager george H watson the directors have made every atte attempt ampt to finance the payment of its indebtedness contracted four years ago in in the acquisition of properties and failing to raise the necessary funds have been forced to make this levy of five cents a share to keep the property intact at the sat same ne time the assessment was levied levie 1 a stock divide dividend nd was declared giving each stock stockholder holder as of record september 19 who pays the the pending assess assessment men t one share of 01 capital stock for each share on which the assessment is paid this assessment will put the company completely out of i debt stockholders will own the property free and clear of 01 indebtedness of every nature and description the company owns all the property and property inter ests of twenty four companies which formerly operated in the alta district the indebtedness was incurred four years ago in purchasing the properties of the twenty four corporations now comprising the alta merger mines company holdings 6 of 1400 acres of mining 6 ground in the heart of the district since the purchase of these properties operations of the company have been on a self sustaining basis at present the company is putting into practice operations on the leasing basis the first shipment of ore produced by leasers leaders has just been made operations of this ta type pe will be expanded just as rapidly as possible when the indebtedness is paid the company proposes to work out ways and means of carrying on extensive operations in its properties which have great possibilities in large areas as yet untouched |
