Eureka Reporter | 1908-06-05 | Page 1 | Swansea Deal Completed

swansea deal completed the final acts in the closing up of the deal whereby uncle jease jesse I 1 night 1 eturea control ot of the swansea and the south swansea mines were performed at the special meeting of x t the he old companies on monday when the proposition pio position was ratified to sell both both companies assets to anew a new orga 4 niza tion on a stock basis tle tl e new c company is known as the swansea consolidated mining company it is capitalized at 1 in 1 shares shares being awarded to the old swansea and to the swan sea this means the old swansea gets three and one half shares for one and the south swansea share for share on its capitalization the re stock goes into the treasury to provide a working capital and it is 19 understood understood that mr knight takes the buk buak of this at a nominal figure so as to hold control of the 1 shares in the new company jesse knight is pr president eident of the new company J M wheeler vice pres dent ind R E alien allen secretary W letter lester mangum and L E riter are the remaining directors the fhe U offices of the new now company will be at a