Show amm I 1 l WH H M 1 H i H I i 04 a 4 t j 1 I 1 M inilla fiat IA rs 1 I I 1 I 1 pertaining TO THE reorganization OF STAR or UTAH ETC A letter was sent out to the h st star a r 0 ot galena utah mayflower and park galena stockholders this week by the firm ot of arthur thomas inc a part of which reads as I 1 follows in forming a corporation of the tremendous importance the new coi company n P an that will consolidate the interests of the star of utah the mayflower an and the park galena will assume it Is natural that some opposition will be encountered any opposition that will offer something constructive that can be of real benefit will be welcomed what wo we have undertaken is of vast importance to the many thousands of stockholders of these companies so much so that every detail has been given thought and discussion by those who are vitally interested we do not propose to incorporate a single feature that will in our opinion prove detrimental to the least extent the payment of ten cents a share on the new shares to be issued could not possibly bo be avoided the money Is needed and needed badly the smelt ing company we mentioned in our last letter has already set in motion the legal machinery tor for foreclosing their mortgage and in due time the ground covered by this mortgage would be lost it we are not in a position to redeem it the debtors of the various corporations are clamoring tor for their money and we are having the utmost difficulty in appeasing and inducing them to wait until our plan goes through another vital reason for funds Is the assessment work required by the united states government A part of the ground of these companies le 9 Is held by location A great deal of it I 1 has been surveyed tor for patent but lack of funds has compelled the holding of it in its original state as locations A government location means that in work must be done each year on each claim held in this manner the work must be started before july and the various companies have not the money to that this work Is done when the new organization Is formed we can at once commence these operations the ground Is contiguous and it if we so BO elect the work on oa the entire holdings of the company can be done at one point men can start by july and the force be added to as the money comes in in this manner the title to these claims will bo be protected I 1 the new organization will hold an acreage comparable with the two great mines of the park city dl district mines that aggregate dividends of better than I 1 fifty millions we believe the territory that will be held by the consolidated companies Is just as valuable as was that of the great mines of the district at the same state ol of development the money we should raise by our present plan will place us a out of debt it will provide a fund tor for the further development of the ground and the million or more shares that will be left in the treasury will prove a financial bulwark that should be sufficient to make in this ground ot of the consolidated companies another great park city producer MOKE TROUBLE FOR NEW NENN QUINCY AND AM ANDY HURLEY alleging that although in assessments sess ments was paid in during 1931 the I 1 a company was without CA cash all on december 11 3 a aul suit t ra against the now new Q quincy ule y mining n 6 company rap Y was filed by four stockholders in third district court saturday to prevent sale of their shares for nonpayment of assessment says sundays salt lake tribune I 1 the plaintiffs are samuel glaser 11 B 0 johnson O hnton ile nick floor and J B arnovitz the th suit ui names A L hurley president and director allen alien T sanford alfred frank william doidge N H jensen and R robert b t lynch directors cs T the action alleges that the directors are managing affairs of the company without proper regard tor for rights of the stockholders it asserts that mr hurley owns shares upon which the as have not been paid the defendant allegedly giving promissory notes in lieu of payments and thus keeping control of the company by retaining the stock mr hurley owed the company in unpaid assessments on december 31 1931 the suit alleges and further states that while only worth or of oro was sold during the year operating expenses were besides asking a temporary restraining order to prevent sales of their stock april alth the plaintiffs ask orders requiring the defendants to show cause why this the temporary order should not become permanent and to show cause why a receiver for the company should not be appointed judge william H bramel signed the temporary orders but no returnable date setting the time tor for the defendants to appear was affixed it was expected however this would be set within the next ten days the plaintiffs posted a 1000 bond to protect the defendants against possible loss as a result of granting the temporary orders I 1 J SILVER AND depression the longer depression lasts the more important the silver problem becomes the depressed price of 0 silver adversely influences employment and industrial activity in every country in the world those countries which are on the silver standard of coinage have seen the their ir purchasing power drop away to a fmc traction of its former level leaving theta them with no money to buy in countries w which have the gold standard these latter countries thus lose the foreign trade which a few years back kept a multitude of factories going and provided e employment in whole or in part for millions of workers efforts are being made mad e on an international scale to stabilize the price of silver and give it a proper relation to the value of gold these efforts it if they succeed will benefit the entire world silver standard countries and gold standard countries alike because of that they deserve the support of the officials and the general public of all nations STOCK SALES FOR FOB WEEK FRIDAY new quincy 1000 I 1 laic VC park utah 80 90 and silver king coalition 1500 2 02 and park city con 0 park premier 1000 ac SATURDAY park city con ac park utah titan 82 and silver king coalition and MONDAY park city con ac park utah silver king coalition 2 05 and park premier 2500 ac TUESDAY I 1 sll silver king coalition and ver 2 ang WEDNESDAY new quincy 1000 ac park premier 2500 bac silver king coalition THURSDAY UR park city con 1500 ac park utah SHIPMENTS I 1 I 1 park city consolidated silver king coalition total |