| Show MINING Edited By r F. F W. W SPRAGUE f t. t r GENT t I MUST SEL SELL BONDS Holding Company Asks Shareholders Share Share- r. r holders to Come to Rescue i IT OWES M MONEY AT BANK k f Funds Also Needed to Protect Options Options Properly Property in t. t Attractive Form Directors of or the tie Bingham ham Central Standard Copper have ha company compan sent Rent to of at the Bingham Central and Bingham ham Standard companies a circular letter calling for subscriptions to of or go gold bonds of the i ham II fling fling- Standard company compan that the holdIng holdIng hold hold- ing company compa- may dl discharge obliga n. n tons failure to meet met which will wil en en- en tall tail forfeiture of tai valuable securities placed place as collateral for Cor mono mone money borrowed borrowed bor bor- rowed to prosecute mining operations as 08 well veil wel as loss Jos of options upon valuable property The amount due a local bank is The only available assets of oC the Bingham Central- Central Standard company t arc aro tho the control of or the shares of the I other ether two companies and the the first mortgage gold Jold bonds of oC the tRio Bingham ii- ii i Standard Copper company nn and shares of treasury stock The Tho directors 1 wore were compelled to lo deposit these bonds p- p f wl with h the ban bank k lo the funds borrowed bor bor- rowed rOWel by the company compan as collateral for Tor the tho payment o of or th the tho loan Jonn This Joan loan IB in now duo due and the bank has called on the company mp ny to to pa pay same and will Cle bonds londs deposited as a collateral collat oral eral unless the debt be paid very short ly Jy hereafter In addition to the foregoing additional addi addi- tonal payments must bo be made at once t on options held b by the Bingham Stan Stan- dar dard Copper company for tor or the purchase of at additional and valuable mining raining ground which tho the company cannot afford af- af lord ford to lose Term Offered t. t On account of or the tho late financial disturbances disturbances dis dis- the company was unable to to place the bonds as e expected and partially par par- taly arranged for and as the stock or of neither company Is assessable the taking of ot the tue bonds l by stockholders appears to be le the anI only wa WILY way open for tor I financing the proposition The Tho bonds offered for sale are ure lre In denominations or of soo 00 each b bearing Interest at nt C per percent percent er ero t. t o cent per annum from April 1 1 1907 paid lall payable annually and mature ma ma- ture April Apri 1 1 I 1911 ll When hen the subscriptions to the bonds shall tons be ful fully paid each ench subscriber subscribe shall be entitled to re receive ro- ro from the Bingham Central Central- Standard company compan of or Its Is treasury shares shareR for each bond lond thus subscribed subscribed sub sub- scribed and J raid ald l for tor and pro rata thereto on subscriptions for Cor fractional amounts of oC bonds The circular sa says s 's You can readily see that unless th the bonds aro subscribed for tor promptly the two companies will be bc In tho the most s serious Jeopardy and that operations i 4 e must rous censo ceso forthwith If Ie the tlC r bonds are aro subscribed for and taken tho companion will be put 0 on their foot feet oot and und I operations operation which now show L 4 f TanJ substantial and cur earl results result wn nn l be c kept The area now i owned by ty the tho Bingham Standard Cop Cop- per pr company company la is ab absolutely ule o tree roe from rom I I Jer n all further purchase money payments li approximate 20 acres acree and In addition to to to- this there thera Is a n substantial area to tobo toL I Ibe L bo be acquired under unpaid contracts The he Bingham Central company owns approximately acres all ni patented I and ond free fre from except the thelen bond Lond lien Hen len of or issue the trust deed to secure Its is Option nn on Group During the past six months the ther if r Jeff Jerf Davis tune tun tunel l of oC the tho Bingham hom Central Central Cen Cen- 1 i company has hns been extended d for a n I matter mater of ot SOO feet about feet of which Is In Standard company ground rr In tn the vicinity of or what Is known as ns th the th of or th the Tho The protection group heretofore heretofore hereto hereto- jd option and the large payments opton fore tore made on the tho option opton covering the group Is the principal factor factor fac rac- tor Involved ve In th the special efforts now being made to dispose of or the bonds londs offered to lo pu hereby An extension of the tho Jeff Davis avIs tunnel for the distance dis- dis tance of or about feet requiring tho the face about 90 SO days days' Inie Ime will wJ bring tunnel In contact with lea lead of ot o. tho copper tind nd sliver silver bearing veins known leasers valuable in fact three to 10 be H feet tho the have ve been working OO lJ level lavel of at tho the Jeff Juff Davis Da tunnel on one ono of or these those veins for tor the past five months and shipping ore to the extent of or about not net returns Except month 2000 per por depression for the tile prevailing financial pre aHng there would have been no difficulty and work vigorously an In prosecuting above e referred to taking tho the option up opton In tho the present emergency however cr It ItIs ItIs Is of the utmost Importance that mono mon mon- promptly to meet the themora o bo be secured 07 development work so vigorous moro mora substantial production ma may earl early that bosin 1 0 o TO si ln i UZO I Director of ur Company Will ihl 11 1 I Inspect r. r Utah of or directors of the At a meeting held company and Copper Arizona Gold Cold tho It Wa was decided that i this city In ci accompanied I by Manager I L. L I. I I directors to the Weaver G. G Burton Durton would go o ca to ex ex- 9 district on February Ariz company's propertY properly The di directors directors dl di- the amine comprise Heber S. S Cutler Cuter presIdent president pres pros rectors ident James E. E Steele vice president and treasurer treas treas- 1 i Walter Waiter Vater J. J Burton secretary secretory Henry Green I. I L. L 1 R. R 4 A. A J J. Bottles iroz This newspaper newspaper news news- and S. S J. J Rich WS n mistaken S In stating ester yester- esterday paper was the thet stock of treasury the lay day day that had b been en sold for 25 26 Utah Arizona t Arizona Uth-Arizona share The price Is 35 cents cents a cent taken at nt have been shares v and figure This provides a a. n fun fund for that V r building the now new mill mi and tho the manage- manage no reason wh why the thc property sees inOTt from the tho basis v will not be on a paying L l' l wl l started timo tho mill mi is |
