OCR Text |
Show 11 Majeslic Company Opens a lew Leaf ' Balanco of Indebtedness Is Wiped H i Out and New Stnrt Made in K the Undertaking-. . If 1 Through President Mucklow and I Trustee Knox, there was yesterday I distributed amont; those holding bal- 1 ances of indebtedness against the Mu- Jestic Mining company nearly 550,000, H this Increasing the total paid since Mr. Mucklow began the extrication of the I properties from its financial ontanglc- I ments to approximately $120,000, and f wiping out Its floating-' obligations en tirely. With thiR achievement Presl- dent Mucklow and his management Is J permitted to turn over a new leaf that f is entirely free from encumbrance whatever, and with bin new start and the manner In which the mines arc responding re-sponding to the financial requirements of the company, the condition is perhaps per-haps as roseate as any at any time !Ince it was launched. Not only has President Mucklow, through his ener- j getic and intelligent endeavors, made it possible to discharge the principal in I each claim, but the Interest has been i at the same time paid up to the farth- I ing. Every creditor to whom the out- I look was most forbidding when Mr, i Mucklow reappeared in the company's 1, behalf Is thus made happy, nor Is any one of them more gratified over the I splendid consummation than is Mr. Mucklow himself. "When he met the various creditors several months ago I lie assured them that they would be I paid In full. Ills pledges have been I fulfilled and In this he has earned not I only the'thanks of those to whom the R conipany was Indebted, but the admir- J a lion of every man whose pride is re ft fleeted In the fair name o Utah's dig- I clngs. Meanwhile, the mines under the direction di-rection of Ed F. Freudenthal have improved im-proved nmazingly. and it is not unlikely unlike-ly that he will recommend the firing up of the smelter and the active reduction re-duction of Majestic ores before the close of the present month. Mr. Mucklow Muck-low has determined to remain upon the ground until the proposition Is entirely entire-ly out of the woods and until the 'assurances 'as-surances with which lie went before Eastern Interests, whose co-operation has mado it possible for him to discharge dis-charge the indebtedness, have been redeemed. re-deemed. In this effort he may rely upon the support of every local Interest Inter-est and every Inhabitant of the region In which his company Is operating. |