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Show HEW MAYFLOWER BOARD CHOSEN A. C. Eisen and his board of directors direc-tors lost control of the Mayflower Dilnes company Ht tho special meeting i.f stockholders in Rhyollte, which had been called to adjust the Internal differences in the company, and a new board of directors and officials were elected. The mine an dmlll cre leased for four years to a syndl tale of the majority stockholders, the Mayflower company to receive 50 per cr nt of the profits. Plans were also instituted for paying off the Indent- j edness of the company to Eisen, who holds a judgment for $51,000 tor-funds advanced to build the 15-stamp mill and for other purposes. The property is now In the hands of the leasing syndicate and the mill has ciosed down for four months to glc time fur further mine development. Of the new directors five live In the Bullfrog district, one In Los AngeloH and one in British Columbia. There wire 1,100.000 shares represented in portion or by proxy at the meeting, Mr. Eisen did not attend the meeting, hut was represented by Attorney Chester A. Lynnn of Gddfield, who voted 2500 shares In Elsen's namo. Lyman Presides. Mr Lyman was selected to preside at the meeting, which elected the following fol-lowing directors to succeed Mr. Eisen oitd his associate directors, who had tendered their resignations: Charles T. Dunbar of British Columbia, Co-lumbia, Henrv Lauli of Los Angelas. E. S. Drury, E. H. Stlckney, C. F. Ryan, Ry-an, L. P. Kimball and J. Lemlo of Hhyolltc. Mr Dunbar was elected I-resiik'nt. Mr Ryan secretary and Mr. Stickney treasurer. Tho First Nn-t'onal Nn-t'onal bank of Rhyollte was designated desig-nated as stock depository and trans for ofllce inbtead of the Mercantile-Trust Mercantile-Trust company of San Francisco. The Mayflower Leasing company, headed by Mr. Dunbar, assumes all indebtedness and will pay 50 per cent of Its net profits as royalty to the Mayflower company. Twenty-five per cent of the first profits will be paid into the treasury of the parent company com-pany and 25 per cent will be applied ti indebtedness. "Alien the debts nr! paid tho full 50 per cent will be turned turn-ed Into the treasury of the mining company. ,, Attorney Lyman, In behalf of Mr. Nelson, notified that If his client is paid 20 per cent, or a Ifltle over $10.0110, in cash on his claim against the company a reasonable time would bo given to tho company to pay the balance, but if the 20 per cent in cash Is not forthcoming Mr. Eisen will foreclose fore-close on his Judgment. , The leasing company, a Nevada concern. Is organised with 100,000 shires of a par value of $1, and h block of 10,000 shares will be offered first to Mayflower stockholders pro ma at par until March 1. |