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Show A CONSOLIDATION OF BEAVER INTERESTS Two more of Beaver county's prominent promi-nent enterprises hnvc been consolidated, forming what the promoter characterizes character-izes aa "the strongest corporation operating ope-rating in this district." Tomorrow documents doc-uments will be signed effecting an amalgamation of the Beaver Consolidated Consoli-dated and Ben Harrison companies. A new company Is to be Incorporated, to bo known ao tho Bonver-Harrlpon Mining company, with a capitalization of 1,500,000 shares, and tho issued otock of the old companies will be exchanged for stocfc of the new, share for share, says Charley Harte in tho Mllford Times. Along these lines the merger was perfected per-fected In Salt Lako yesterday afternoon, after-noon, the consolidated company having a capitalization o'f $1,000,000. As tho stock of the new company 1b made assessable, It will be an easy matter mat-ter to raise funds for the development of the properties. In cns tho saleB of treasury stock do not yield sufficient revenue. Mr. Trenam states that am assessment of 2 cento on the Issued stock will wipe out all of the indebtedness indebted-ness of both companies, while four assessments as-sessments of 1 cent each per year will pay all operating expenses. But it Is not anticipated that such assessments will be necessary, as the sales of treasury treas-ury otock arc- expected to j-lcld a large portion of the revenues needed, adds the Times. It Is the Intention to pus)h the Beaver Consolidated shaft down to a depth of 1000 feet, and at the same time drifting from the 600 level will be continued. Tho Ben Harrison ground will be explored through this shaft. It will tako about six weeks to complete the .transfers of stock and get everything every-thing In operation under the new arrangement. ar-rangement. G. M. Palmer, J. L. Jones and J. C. Coffey of Minnesota, three prominent stockholders ln the old companies, visited the properties last Tuesday, accompanied ac-companied by Mr. Trenam. They expressed ex-pressed themselves as satisfied with present conditions, but were of the opinion that the shaft should be sent down to a depth of 1000 feet without delay. |