| Show I f J r rI P I COPPER MOUNTAIN TAI STATEMENT T I Circular r t Out Om to Explaining Fin Condition And Ant for or Assessment THE IS Properly of or Corporation Was Sold Under tinder Execution nail anil nn 1 It I U k I Now ow Proposed to lo Redeem It ItA ItA ItA A time ago ngo the directors of or tho the Copper Mountain Mining Milling company 10 I PU mot met and declared an all Irish divIdend of at n a cent a n share for Cor the pur purpose pose 1050 pose of at clearing up tho the Indebtedness of at atthe the lie corporation anti and Ind to redeem It its Ilea Ben Heaver Benver ver county properties which w had Imad been blen said Hold old under execution The he notices sent Rent lent out olt to 10 shareholders brought brou ht forth u a response from some who vimo were under tho the Impression the th stock stuck stockIS was IS In order to ox ex the situation HI llon fully fl Secy Seey lloyd has imas lag addressed the tho ho following to each stockholder of ot record For ninny reasons this company has imas been heen icen thrown Into legal entanglements and time the directors after mommy many months to devise of or work worl ark and nn worry trying ome le method to liquidate its Itu It I obligations resorting to un assessment are sorry orry to Inform the tho stockholder that timaton on account of ot the general depressed condition of ot the tho stock tock and amI financial the tiu last year and a half bait the company linn has been bemm unable to meet Its debts from the time sale Bale of at treasury stock Block amid having no other means of ot getting stock tock mane macno noncy Is now hoW compelled to assess the During tho the month ot of January 1903 arrangements were made on time the best of or faith ralth to o equip and develop time the com mine A goodly number of per por porous ous subscribed for tor equitable blocks of at stock lock and ani a 1 I few lew paid while others ailed to pay Imay A block of or shares was WM subscribed for Cor to be he paid at the rate ate of ot 1 cent celt per share a month This lone alone would havo given us 1 COO month monthly ly y and In connection with the tho amounts wo vc c expected to get et from the time rs IS coupled with what we ve might rena have expected to sell sel in tn various other ways we wo were justified In equip ping the tue mine maine with wih all al necessary build buit buildings ings u a I splendid gallows frame and a 1 gasoline la olne hoist hol 1 This In addition to newly newl timbering the mine after It to the time level The mine was thus thu equipped and nd time the shaft sunk stink and timbered to time Iho 62 foot toot level There has hI him been some somo rifting drifting on the time vein vIn aim hl which has hns revealed some ot of tho the best beet ore found In hat section Becton of or the state All Al hut but a n very ery few ow persons failed to respond to this with aid Ild ns as 11 we wo expected and the syn yn dicato cleato which hod subscribed for tor the 60 6 shares sharIs also al o failed us Thus we wo were thrown Into debt The stockholders will wi remember that our company gave Have a bond hond In December Dece 1903 for tor to W J one ono of ot the tho conditions being that he should 18 the tho debts of or the company We Wo be believed he tIC hl would woul be able to comply with rIth that requirement but hut he failed hence tho the bond was cancelled Mr Ir did not fall tal to meet moet the tho conditions of or ortle time the tle bond because of at any disappoint disappointment t ment In lh tim property or b It Was not In tact fact beleI than represented represent to him He was as simply unable to carry carryout out omit olt the time financial arrangements ho ime had planned so M ns its to meet Ilet the time conditions was sorely orel disappointed nt at tho th great opportunity lt was wan lost to him We were ere thus put In a n position where our creditors Insisted upon being heinl paid anti and our company COl pan could not settle with wih them hence suits sUIR were flied filed led against us anti Judgments had which were followed tol owed by execution and sale of ot tho the mine amine and equipment The Time total judgment amid Indebtedness with wih costs attorneys fees Cels and Interest now amounts to 00 In round numbers It I was as thought tr for a long time that I the tho stork stock In this company was non nn I assessable for tor the time reason that under the tho present laws Of state all 01 such stock Is IA unless sped specifically lenlY made IMe assessable by the tho articles nf ol Incorporation The articles of o Incorporation of ot thus this company are silent on this limbs subject thol fore we se wont went on arm 01 the tho theory Innocently that tho the stock was wn Hut lut In searching tho time records wo flail that the time articles of ot In iii of this company wore ere filed In December several years yeAr before statehood 11 the enactment of ot the time present code rode anti this stock Is II there therefore fore ore not affected bi bm time the rode ratio and Is 18 nn as I under tinder the territorial laws I It Is possible that such a mm 1 condition Is a n blessing In disguise for tor In the time present condition cOIlton of or time the money market time the chances are Oro that It would have been Impossible for tor or us mis to have redeemed the properly but ns as lS things now stand the tIme Is perfectly legal anti and the time stockholders have n a chance to protect their save nave Ino the mine min to themselves Otherwise e thov would have hao nil all al been leen helpless and have hao lost lostal The Time holdings In Heaver Lake Mining district Heaver county Utah IB is 11 unquestionably one ammo of at the best beat pieces of mining property In that enviable able abie section nf ot the tho th states state anti It Is no so 10 recognized by hy every mining man who hag imas hl over oer examined It I For Kor tho sake of or presenting to you the tho momentousness of or the thie occasion let us lS assume that un der del time the circumstances circumstance the Investment you have already made la is II lost which IH iii II not tho the case cano If It you 01 will wJ embrace the UI opportunity now offered oferell you you y OU can cnn regain everything and put the mine maine anti and your Interest In It on a 1 better be ter toot foot III than ever before at nt the tho cost of ot 1 cent a n share If It I YOU von do not pay this assessment of at course the loss nf ot time the money you OU oti have havo already Invested Is ab nb absolutely certain When such uch n a disaster can cnn be bo prevented by hy so small I nn an amount an as ni I 1 cent a It share It Is IR only time the part of or wisdom to respond without de ceo lay ny With Wih this limbs request complied compiled with elope will 1 he Ito le taken In the near na future to put tait time the company compan on such Ilch n a basis as 05 aswill will vIli Insure the continuation of ot develop dove lop ni men ment rEnt work and the of at this valuable property Into a n dividend pay payer er or pr For time the Information of ot the stock It may ma be bo explained that assess meat ment No 1 was vas a levied and collected a n number of ot ye years r before time tm present am officers of cers core pany had hall to do 10 with wih the com corn company company |
