Show I DAISY REORGANIZATION Plan Proposed by the Committee Another Committee to Confer The committee recently appointed by II the shareholders of the Daisy Mining company to Inquire Into the character I of its ores and the practicability of leaching a margin out of them has reduced Its llmllngs to a very simple I paragraph hi which It says that If there t ic any way of extracting and saving I the values consisting of S2GO pcr tonI ton-I then the mine and mill may be operated oper-ated at a profit And there were FOHQ i present at the adjournod meeting yesterday yes-terday afternoon who believed It might r be done and HO a plan of reorganisa tion was decided on In submitting tlmt plan the committee com-mittee recommended that the trust I deed amounting to 2 5OOO be allowed J j I I to go to foreclosure tin property un dr the proceeding to be bid In by a 1 Ii trustee to be chosen by the sharehohl 1 4r4 This done and the mortgage discharged dis-charged each shareholder in a reorganization reor-ganization of llu company shall be allowed al-lowed the munb of shares now held I by l him on the payment of 7 cents a pliare or 300a for the whole The first payment la fixed at 2 cents a share I when the old stock ia deposited with I the secretary the remainder to be paid In at intervals of ninety dayH The c i commit lei also recommends that In the reorganization provision be made for aK usKmentH the amount not to ex m d a cent a share during any one month I To these recommendations some of I those present look not unkindly Superintendent Buller In his report i called attention lo thy fact that during I dur-ing the six months previous to the ill m closedown 5O < had bton expended on development work and submitted that C ulth an expenditure I of 30 he could 4 handle 50 tons dally with twentyfive men In mine and mill I This uould he 7 claimed inake a saving of 53250 per I month which sum would more than ml overcome the lo s Through some cause he said there 1 bad bfpu a loss of S1UOO on each bullion 1 I I bul-lion shipment He could account for It U in no way save that the battery nssaya l t had not agreed vvitb assays from the 1 product Other mines said the superintendent 7i i super-intendent experience a loss of but G t per cent while at the Daisy it has f reached 33 per cent 4 Time reports were received whereupon the chair appointed G AV Meyer A V Gallacher and G W Popp to confer I con-fer with the bank by which the mortgage t mort-gage is held upon the plan of reorganization 1 L reorgan-ization the shareholders adjourning to I moet again on Friday at 330 oclock V According to a statement by the superintendent I t su-perintendent the grows value of the rock Is but 260 while of this sum S3 cents noes Into the tailings Not avery m a-very assuring exhibit |