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Show BALAKLALA IN SHERIDAN GROUP BOSTON, April 12. Costing $20,000 and selling for $237,500, the 25,000 shares in the Sheridan frroup of claims in Shasta county, California, proved a "good thing" for the Balaklala, It has been learned here that in addition to the 100.-000 100.-000 shares of new Balaklala stock offered to stockholders at $10 a share recently and underwritten at 91 through Haywood, Hay-wood, Stone & Co., 25,000 shares were also issued to them at the same price. As stock cannot be Issued except for property without first being offered to stockholders, according to a legal requirement, require-ment, these 26,000 shares were ostensibly Issued "for property." In this instance the property acquired Was a third interest in the Sheridan group, Shasta county, California, adjoining ad-joining the Balaklala, containing three claims or about forty acres. It is understood that the Sheridan interest in-terest actually cost the Balaklala only $20,000, although it received $237,600 from the sale of the 25,000 shares In addition to the J9S0.0O0 received from the sale of the 100,000 shares. There are now 525,000 shares outstanding. |