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Show pioe co;:s. : , f nEGOVEn . Propoed Rehabilitation Plan la Heard It Ifl und.ritood Ihftt a tokhotd-riT tokhotd-riT m.ttoc of Prlnc. Consoltdat-ti Consoltdat-ti will b. call.d In l" rer futur to work eut th problem of r.or-ffanlBinv r.or-ffanlBinv th company lit auch a manner that mining oparatlona may avaln ba r.aunioi. Tha proposed plan, aa avtllnad, will aajtira tha clcanlnc up of ail oataundinff debta of tha oompanr and plaa anoush money in th. tr.aaury ta .asala permit mlntnc oparatlona at th. ploch. property. At th. prM.nt ttm. th.r. ara 9Bi.-00 9Bi.-00 a pr ont first morta. bonda outstanding to ba matured and to.-l to.-l liquid debt, to b. paid. Th. plaa 1. to rlean this up and plaxa at l.aat l.llol) la tha treasury. At th. present time th. frlnc Consolldat.d company has this llvu.uoo debt haodlne; OT.r It, th. inln. filial with water and operations opera-tions eloaed dowa. The only possible pos-sible chaace for stockholders to aa-aln (et th. mine back upon s paylnc basis Is to acoept tia plan ct reorganisation. It la atated. Prince Consolidated has pal J tm.oes In dlrldeode- oa tna out-atandlns; out-atandlns; 1, OOo.eos shares of stock. These .amines war. made from th. upper l.v.la on low arade ore, Th. blh (rada or, which has been proven to exist at tha lower levels by diamond drilling, will be the objective of the new operations un-Jer un-Jer tha reorganisation plaa. The teat dividend, war paid Br fompaay In 1MT. It la understood that stockholders stockhold-ers hav displayed their ellaconteat with tha present plaa of reflnaae-I reflnaae-I Ina by refusing- to accept the pro- posal of th board of directors to I loan the company a certain amount per share. It la expected that the plan that will liquidate all eut-I eut-I standing ladebtednv.a an) put the company on Ma feet -again financially finan-cially will he accepted at tha stockholders stock-holders meeting. |