OCR Text |
Show SIOUX CON. COMPANY SELLS ITS PROPERTY Special to The Tribune. J'nOVO, Doc. 1. At n meet ins held lipt-t? Inst night stockholders of the Sioux Consolidated Mining i-ompaiiy voteil to sell th,.' property to the Sioux Mines company, com-pany, recently organized with I,0ii0i00 shares of a par value of 10 cents a share. Stockholders; of the old company will rpceive one share of Sioux Mines stock for two y.haros of Sioux Consolidated, after -which there will remain in tho treasury Sno.nnfi shares of stock which will be used to liquidate the old com- 1 pany's Indebtedness, amounting to about $20,100, and to puah development work on the Sioux mine. The new company was organized to enable the Sioux Consolidn led to wipe out its obligations and to make the stock of the new company assessable, so that , money would be available for development 1 purposes. Directors of the new company are Reed Smoot, C. E. Txiose, P. G. Peter- son, J. T. Farrer and Rp-cd Ij. Anderberp. With the exception of Mr. Peterson, who takes the place of T. R. Cutler, the board is the same as that of the old company. |