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Show ' ' V ' ' :' ' ' ' V ,' V. ' , - , - V ....... .... ... . ., ' " ' " " , ; ; !...;- ".".;!;' '" '' T" ; " v ..:,., ; ;'y V..- ' THE PRESSBULLETIN VOLUME 48 BINGHAM CANYON, UTAH, FRIDAY, APRIL 12, 1918 NUMBER 6 IIIEWffflBlI ' For First Time Since Reorganization of the Company Montana- - v Bingham Finds It Necessary to Levy Assessment Directors Issue Lengthy Report Which Shows Company to Be in Good Financial Condition. , , The MontanaflJinghem Consolidated Mining Company has made an asses-sments ten cents a share on the stock which Is the first to be made since ho company was reorganized. Presi-dent Ballyntyne and the directors ex-press regret at the necessity of hav-ing to do this,' but in the interest of the comrany and for the purpose of putting the property on a dividend-payin- g basis at the earliest possible date they thought it the only expedi-ent course to pursue. In connection with the assessment they issued a re-port which shows the company to be in a healthy financial condition and with the proper development it will doubtless eoon be numbered among the big paying companion of this camp. The report is as follows: "Your directors regret the necessity of levying this assessment, yet, in view of the fact that the rticlos of incorporation empower them' to do so, they feel they would have been remiss in the performance of their duty had they failed to take timely action to protect the stockholders' equity in the company's property. The financial conditions existing at this time throughout the continental United Stater make it impossible to raise any considerable amount of money either by louns or otherwise, and as small advances, even If they could have been obtained, would not effect the purpose .he directors have in view namely, to place the property in the pront-.pey.iD- at aotruJi possJ. ble and meanwhile protect the stock-holders' interest against creditors, the assessment, therefore, however much to be regretted, was thi only alterna-tive. Assuming for the moment the assessment had not been levied, that ruits had been Instituted, judgments obtained and the property sold under execution, to the utter loss of every stockholder, what possible justifica-tion could the directors plead for neg- - lect of a duty so clearly, If not legally, devolving upon them?" While the developments on the Tle-wauk- ee and Valentine properties have demonstrated their value as mining propositions, it is not proposed to ex-pend any money on them In the near future, but rather to allow them to re-main as tbey are until the otluer big; development has been completed and! brought into a dividend-payin- g basis. The following statement' shows the financial condition of the company as of, April 1, 1M8: Capital stock authorized,' 3,000,000 share of the par value of 1 each. ASSETS. , Mining properties .......$3,000,000.00, Tunnel developments and ' , water facilities .471,000.00, Mine and mill buildings, ' equipment and. sundry plant 85.2K5.65. Stocks in net, ore returns of the Blng-- . Cop-- ' per Co. 126.000.00 Accounts receivable 2,614.90 . Ore in transit and at smel-ter 4,000.00- - General office equipment . 650.0 Cash in office 208.88 ' - Total ....$1,639,720.43 LIABILITIES. Capital stock outstanding, at par value .$2,298 668.00 ' Assessments paid in prior to assessment of ' March 18, 19!8 '27.153,14' Bonds outstanding' ..'.. ' " 1.77.100.00- - Bonda in escrow 7.C00.0O Bills payable 60,243.50- - Accounts payable 42.317.91 Contracts ll,r,00.00 Balance due on contracts ' for purchase of mining properties , 190,497.05 Accrued Interest on pay ment due on Fortuna 'mine 5,000.00 Overdraft on treasurer's account U.865.00 Net present worth 857,875.23 Total '.. $1,6X9,720 43 ,' From the liabilities side of this statement it will be seen that after deducting the liability to the stock-holders, made up of stock outstand-ing, three assessments, levied several years ago, and the present net worth. ' aggregating $3,181,696.37, there is a. balr.nce of liability against the com-pany of $.'06,024.06. This Is not a serious as might appear at first sight, . as S196,4?4 ftfi, made up as follows: Bills payable $35,24.3.60 " Contracts 11,300.00 Payment account Fortuna principal 2.".000.00, Payment account Fortuna interest H.OOO.OO- - . Payment account Tiewau- - kee group 37,.00.0O" Paj-me- account Valen-tine group 27,937.05 Accounts payable 42,317.91 Bank overdraft 11 ,865.60 will bo taken care of out of the pro-ceeds of the assessment and leave a. V working fund of $33,448.74. The bal-ance of liabilities, $309,600. is made up of bonds outstanding, $177,100; bonds In escrow to secure payment on the Tiewaukee group, $7"00; balance on Fortuna group, payable in 1919 and 1920, $100,000, and due Honolulu parties on six months' notes for mon-eys advanced in February last. $25,-- 000. The-- bnlance to be paid on the '"ortuna mine, $100,000, is pavahle. $25,000 January 1, 19,19; $25,O(0 July 1, 119; $25,000 January , 1920, and" S25.O00 July 1, 1920; all of these pay-ments are to be taken care of out of net earnings. Hones, $177,100, due June 1. 1918, Jt Is proposed to have extended to June 1, 1919, when they will be paid by the sale of so much stock as may be necessary in exs of available cash, the stock In having acquired a nibstan-M- al value by reason of the company's excellent financial condition and mine-prospect- Bonds In escrow, $7500, will be re-leased and returned to the treasury upon payment of the bnlance of $37,-50- 1 on account of the Tiewaukee pur-chase, Included In the foregoing state-ment showing tho disposition of s of the assessment. This leaves only $25,000, advenced by Ho-nolulu parties, du ; August 14, 1918. The notes covering this advance carry the privilege of. taking stock of 25. cents per share In lieu of cash, anf as the stock at the oue date of these? notes will undoubtedly be worth more than this price, can either deliver the stocky !f note holders should elert to accept it, or sell sufficient to redeem the ob-ligation. Thre is now In the treas-ury 701,332 shares. GREAT PATRIOTIC IfTl ' TO BOOST LIBERTY BONDS Great Liberty Loan Campaign Was Formally Launched at Big Mass Meeting in Canyon Hall Monday Night Meeting Pre-sided Over By Mayor Kelly Sergeant Wilson and Parson Simpkins Chief Speakers Fine Musical Selections Large Attendance. The big Liberty Loan drive was set in motion last Monday night when a large crowd assembled at Canyon hall to hear well known speakers discuss the situation. The hall was well crowd-ed and those present manifested a spirit of unusual enthusiasm. The meeting was called to order by Mayor Q. B. Kelly, who announcad the purpose for which the crowd had assembled, made an appropriate talk for the occasion and presented the speakers and entertainers. The first Fpeakor was Sergeant Jos. (L. Wilson of Salt 'Lake. Sergeant Wil-son has been in Bingham before and a ' great many people had already heard him talk and were anxious to hear him again. He is intensely interested in the winning of the war, and he is put-ting his whole nole into the work. His chief work has been in securing enlist-ments from men under 21 and over 30 years of age, and in this work he Is meeting with success. In his speech he said that ingham was one of the . , most patriotic spots on earth. Tills statement brought rounds of applatipe. With reference to the practice of mak-ing disloyal persons kiss the flag he recorded his disapproval of this plan as , he said such persons were unworthy of touching the national emblem. He thought that spies in this countrv should be dealt with more severely and he saw no reason why their should not ...be an arrangement for lining thorn n- 4. against a wall In front of a firing 1 f , squad. Jle said thnt In this great war . there was work for all and that those who enuld r"f eo to the front could buy Liberty bonds, thrift stamps md , In other ways lend their assistance to the men who are fightinsr the hnttles of the country. Throtihont his d1?"ourse he was occasionally interrupted with ' rounds of anplause At the clone of this Bpch Mavor ; Kelly arose and gave a few pointed illustrations showine why wp are in war. Jle then announced the next j . piece on the prosram wiich wax a I ri'!"i t"loetlin "Dream of a Soldier Bov " bv Miss Lola Rov;e. , ; Following this Rev. P. A. ?lnvikins. the silver-tongue- d orator was fittingly ,. introduced by iMovor Kelly, snd the ' ppeeeh he delivered is one thrt will ' long be ren?nh'r',1 In 'naftm Parson Simnklns hinsred his address primarily on the nnnlversarv of the date Anril 6, 1917, which he sn'dw-onl- d In all times be a red letter dav In Am. erioan history. !He poke corvlnein?lv of the preat work America has done and is doing to win the war. He re-counted the many thine- that have al-ready been accomplished In a compara-tively short time. He snoke of the ef-ficiency of the men at the Vnd of nir military affairs. He said we were not supposed to elve out lust how many American soldiers were on the battle line In Eurore. but stated that he was ready to inform those present that If we had 22.1.000 more soldiers over there our total number at present would be 1.000.000. With reference to Josephus IDanlPls. secretary of the navy, he said that after all the Insane criticism of this official It was now acknowledged even by his enemies that he was perhaps the most efficient man that had ever filled this position. By his careful work out of the great num ber of American soldiers spnt to Europe only cne of the ships carrvlng soldiers had been sunk. (He considers that the naval affairs have been han-dled with exceptional ability. He Fpoke of the Liberty Ixan and he said that the peoole, were expected to buy, but-t- o the limit and then buy. The bonds are a good investment, and the irrAnt rAannrr-pf- l nf tha nHr rnnntrv Is back of them. He also spoke of drafting money even as people to sub-scribe. The man who gives his money is not making a sacrifice to be com- - pared with the man who gives his life. Before concluding his address he called for a hand primary to see who in the audience were going to buy one or more bonds and almost every one In the house held up his hand. Next was a song. "A Flag Without a Stain," by .Miss Josephine Berry and MBaby's Prayor at Twilight," by Miss Tregaskls. The meeting was con-cluded by singing of the "Star Span-gled Banner" by Mrs. L. L. White and iMiss Vera Chiara. The people who attended were high-ly pleased with the meeting and It has since been a subject of much com-- v ment on the streets. The people were thoroughly aroused on the subject of buying (Liberty bonds, and the feeling was general thnt. this community would subscribe its quota long before the time alloted empires. Sergeant Wilson announced that he would ever in 'Bingham a few days In tfp Interest of securing additional from this community. DEPUTIES WERE HERE ON A WILD GOOSE CHASE Ik'putles Jog Raleigh and Dink Rich-ardson of Salt Lake were up here on Wednesday evening and night on what might be called a wild goose chase. They came out here for George ILazos, violently demented man of Copper field, but Cteoige was not there and the ofticcrs wei e informed that ho was in Salt Lake. They came back to Bing-ham and called Salt Lake and asked about the matter. ' After some little in-vestigation it was discovered that the man was in jail here, and was at the lime the officers were dispatched to! Bingham. There was an auto driver and two officers who made the trip out here, and It is a mttter of fact that some expense will be attached to the affair. When this bill comes up for ad-- ' Justment It will ralte a nice point of law as to where It should be charged. Some one blundered, but the county will doubtless stand the expense with-out registering any kick. A SAIT LAKE BAKERY CLOSED BY FOOD ACU6R Drastic Step Taken at Result sf Fail-ure to Observe Rulings " That the government does not pur-pose to longer temporize with violat-ors of the ruie regarding the obtain-ing of licenses and the observance of the 20 per cent substitute regulations by bakeries, was emphasised yester-day when W. W. Armstrong, state food administrator for Utah, put the Athens bakery out of business. The Athens bakery is situated at 5C3 West Second South street and is operated by iHenry Pantalikis. Gus Nichols, who does the baking, is pre-sumed to be a partner of Pantalikis. Evidence that the Athens bakery had been violating the food arminis-tratio- n regulations concerning the use of substitutes was brought to the attention of the state food admini-strator by members of the police com-mittee of the bakers' association. That the bakery had not obtained a license was evident 101 BOARD ASKS FOR RIGID ENFORCEMENT CURFEW LAW The town board met on regular ses-sion at the town hall Wednesday nijrht. The period of time for receiv-ing bids were continued for another week. Dr. F. E. Straup appeared be-fore the board and asked for a more rigid enforcemuit of the curfew law. He requested the of the managements of the various picture shows and the children be not fallowed to attend the second shows. He also naked that a hospital district he ob-served with reference to the operation of automobiles, that horns be not blown, uunnecessaiily in certain sections, and that cut-out- s be not used at those places in town. Aside from this busfnefcs' was transacted.'" FIREMEN HOLD JOINT MEET-ING AT HALL NUMBER ONE The "Bingham fire companies met it hall No. 1 Tuendty night.- - The busi-ness meeting consisted of hearing com-mittee reports, the main business of the evening being the .question of the fire alarm ' On the report msde it wa decided to test out a whistle for this purpose during 'he month. After the business meeting an appro-priate program and a banquet was en-joyed. Joe Delaney presided and he took occasion to see that every fireman in the hall had an opportunity to make a speech, tell a joke or sing a pong. The meeting was a good one and the crowd ai wi 11 entertain d. At the nevt joint meeting, which ic to he h ' in hatl Xo .2, Mar '."the faculty of the Bingham school will give a musical progrein.. BINGHAM BOYS MENTIONED IN LETTER RECEIVED FROM ' ENGLAND Mrs. George Berry of Highland Boy has received a letter from her mother, Mrs. Glidden, of Durham, England, which contains a number of items that will be interesting to people in this community. The persons of Bingham whose first names are mentioned in the letter are Joe Broom, Sidney Glid-den, T. Glidden. The letter in part, reads as follow: "Just a few lines to say we are all well and are hoping your are the same. It is no use to send much news as we get them sent back. Sidney has been home for 14 days, and he is looking fine not one scratch on him yet, and-h- ' has been In the thickest of the fights scores of times during the nine months since he went in the front 'ines. iH-- i has gone back again now, and we have jnst a line to say he got there all right. "Joe is in the flying corps now and has been for about lour months. Has hi second air machine. We is In Eng land about twenty miles this side of Portsmouth. He had his side hurt a bit, but he is all right again. John has his discharge now, as Ms knee was so bad. We have never heard from Tommy. So we don't know whether ho is alive or dead. "Well, dears, it's Hilda's birthday iu two days' time. How we would likerfo see you now and all of the dears, but it's a mighty good job for you not to be here. Selina (that's me) have had only a half pound of mutton chops and three quarters of a pound of neck beef lor five weeks. So you would not be very fat on thet, dears, but It will be better when we get the mnt ration cards, as everyone will get his share. The things came from the Ftore today, but no card. That means another two weeks to go without. How about the men there? Do they gt called up or not? And how do the Englishmen stand there? "We have had no word from Becca or Lily since six weeks before Christ-mas. I do wish I had stopped out there with you when I was there. Well, I do hope this letter won't get destroyed or sent back, as I don't think I'm putting anything to hurt an. one down here." MUSICAL ENTERTAINMENTS BOOKED Albert J. Southwlck, musical in-structor of the Binehani schools, has arranged for some high class musical attractions for Bingham during the coming year. He has booked Bonie of the beBt musicians In the country and will have five sept rate attractions to be presented at the Commercial Club r. oms at the expense of considerably ovtr ."j0i. 'Mr. Southwlck has confidence that there are many munlc lovers in Bing-ham and he ha" prepared to bring to them something well worth hearing CHIEF PAUTSCH ARRESTS DE-SERTER FROM CLEVELAND OHIO Chief of Police A. IB. Pautsch last Saturday arrested Ernest Troop, nn alleged deserter of Cleveland, Ohio, and he was taken to Fort Douglas for safe keeping. Chief Pautsch made the arrest on In-formation received from Cleveland that Troop was a deserter and was wanted. Troop had been here for some time, but things had not been looking the best to him for the last while and he was fixing to quit the eamp when ha was picked up. He had drawn his pay, and had he not been arrested when he was, he would have been in hiding in other territory. 4-- , - UDGEilES Oqulrrh Lodge No. 71, Knights of Pythias- The rank of esquire was conferred on two candidates last Friday night. On Friday night, April 12, Grand Chancellor Jacobean and other grand lodge officers are expected to be In at-tendance and assist in conferring the rank of knight. 'Refreshments will be served by Caterer H. N. Standlsh and an enjoyable time Is anticipated by the members of the order. All Kninhts take notice. The annual convention of the grand lodge will be held In Salt Lake City, May 21-2- Oquirrh lodge will be rep-resented by Representative E. C. Thomas, B. G. (Locke, H. N. Standish, grand tribunal, and Anton Christense, grand trustee. Now that Knight Standlsh is the owner of a Ford, the brethren of the lodge expect to see an exemplification of "the friendship of Damon and Pythias" In the way of "joy rides". Inasmuch as It Is claimed that H. N is a careful and caution driver and does not exceed the speed limit of 60 miles an hour the brethren feel that their lives will be perfectly safe In his hands. Tune: 'Auld Lang Syne," Should automobiles be forgot, and never brought to mind. Standish thanks his stors for the old Ford car, He says "It's the only kind." Knight J. T. Dean is confined to his home with sickness, illls general presence is missed In the lodge room. HIGH SCHOOL STUDENTS GIVES RECITAL NEXT MONDAY The recital that Is to be given by the Misses Pearl Adderley and Lillian Chiara in the high school auditorium next Tuesday night promises to be the best of Its kind ever given in the school by any of the students. It Is elated for Tuesday night, April 16. The students who are appearing In tho re-cital were on the most part trained b,v Mrs. Inee Todd King the oral expres-sion teacher of the high school and promises to be worth seeing. The ad-mission Is to be free and everyone in Bingham and the town adjacent are invited to attend. The program is as follows: "Columbia Calls , Frances Adams Ha lstead iMlss Lillian Chiara Aln.cst Beyond Endurance James Whltcomb Riley John Davidson Violin solo Severn Grandquist The Octoroon Byron W. King Pearl Adderley Fancy Tance Miss 'Hilda Tregastls "Little Giffin from Tennessee". . . . Bret Harte Irvin Stillman Robert of Sicily Henry W. Longfellow Miss Lilliun Chiara The iBoys' IM other ; Miss Vera Chiara Dream of a. Soldier iBoy Miss Pearl Adderley The Clown's Baby Miss Chiara In the Usual Way Miss Adderley CORPORAL W. T. GARNETT RECEIYES MILITARY MEDAL James Garnett of Bingham has re-ceived a letter from his brother, Cor-poral W. T. Garnett, who has been undergoing treatment in an English hospital for some time. In the letter he stated that he expected to be able to return o the front In a short while Corporal Garnett was recently pres-ented with a military medal for brav-ery on the field of battle. He was one among a party of soldiers who were stuok In tho cold mud in No Mail t Land last fall. They were stuck to the waist and It was so 'old the mud froze bnd hold them fast until relieved, when they were affected with myalgia-paralysi- s of the lower limbs and arms. In his letter Corporal Garnett stated that they were taking all men or nearly all in England. He stated that when the examining board turned a man. down he was about ready for the undertaker. J. A. YOUNG ASSISTS FOREI-GHNE- RS TO FILL ASSESS-MENT BLANKS Joseph A. Young of Salt Lake, work-ing In connection with the equalization board for taxation, has been in Blng. hnm ihls week assisting the people In filling out their blanks. Mr. Young tpent the first of the week with the foreigners, many of whom were unable to speak English. Still he was greatly impressed with their honesty. He said that he foui.d in practically every case a desire on the rart 0f the people to do the right thing. Mr. Young Is well pleased with the ueople of Bingham and was atrrtpablv surprised to find them so much better than he had b;en led to believe from the distorted ac-counts he had read of Bingham in the Salt Lake papers. MARKED IMPROVEMENTS MADE ON I S. FLAGS OF BINGHAM There has been some marked Im-provement In the appearance of the United States flag In town during the past few weeks, and there are now quite a number of new, neat, clean and Lenutiful flags floating from a num-ber of house tops. One of the first of the new ones we noted was the fine large flag on the Bingham hotel. And since it was erected a number of others have been unfurled. There are still a few flags In town which might be replaced with new ones with good effect. IRON COUNTY COAL CO, This Is to advise the public that Mr. Phil Speckart is no longer connected with the sale of stock for the lion County Coal Co. There has been con-nivance on the part of some of our salesmen to sell the privato stock of Or. Green Instead of trfljury stack. Any Iron' County Coal Stock, Is of course, the same value, whether Treas-ury or Personal; but people buying this stock should prefer Treasury stock, because the money then goes into the development of the property. Therefore, before placing your order for Iron County Coal Stock, see that the salesman has proper credentials signed by Fred W. Webb, president. Any orders left with the undersigned or. sent direct to the office. 4J8 Conti-nental National iBank building, will re-ceive prompt attention. Mr. Speckart still holds creden-tials which he refuses to turn in. Q. B. KBDLY, Treasurer. One of the enjoyable events sched-uled for next week Is the Red Cross benefit to be held In Canyon hall next Monday night. This is to be an enter-tainment by Prof, iMiles McDonald, the animal trainer. Those who are ac-quainted with Prof. McDonald say that his entertainment will be a good one. lie Is a natural inimal trainer and at the attraction he will have ponies, dogs, cats, monkeys and others, which will perform remarkable stunts. In addition to this he will have vaude-ville, moving pictures, dancing and Blnglng. McDonald Is giving this en. tertainment for the benefit of the local Red Cross. This Is his first ap-pearance on the stage, but he Is plan-ning to tour the United States and Canada with his attraction Thoe who go to Canyon hall next iMonday night can depend on being highly en-tertained. FIRST SERGEANT H. J. READ WANTS HARD ROCK MINERS First Sergeant If. J. Read of the U. S. navy, arrived yesterday after-noon, nils mission is to secure a num-ber of first class hard rock miners for mining and sapping In France. This opportunity is a very desirable one for men who are qualified for the work. (Sergeant Read will be at the Commercial Club for a short time to see applicants and explain the' nature of the service. The Maccabees met at Society hall Wednesday night and dedicated a serv-ice flag to ten of the members who have enlisted In the service. The men are John Jackson, George McDonald, iester Pope, Dan Groves, Karl Mace (deceased). Robert Chestnut, W. A Oman, K. N. Halliday. Fred Bemis Jr., George Maitln. An interesting program 'was carried out, and Jud?e John C, Green and others made addresses. Thomas Cullerton, who for the past tx months has been connected with the local postoffice as carrier on city route No. 2, has resigned to accept a position with the Utah Copper com-pany. Me has been succeeded as csr. ried by Byron Green. t The civil service examination whieh was announced to be heul in the post-offic- e here tomorrow lis been post-poned until IMay 11. This change of dates became necessary on account I of the fact that there were no appl-icants, for the examination. At the Paramount Princess last Fri-day and Friday night to see the spe-- , clal feature, "God's Country and the Woman." The picture was one full of Interest and those who saw It were well entertained. Sone good work has been done on the street crosfing at the intersection of Carr Fork and ;Main. The old tim-- .' bers have u tn taken up and replaced with new. The Liberty Loan drive is progress-ing very favorably. Up to 6 o'clock last night $50,000 is estimated to have been subscribed. |