Show sevier valley coal co votes four hundred thousand dollar bond issue to pay off of old bonds advance for immediate railroad construction and develop mine stockholders receive satisfactory report on operation the stockholders of the sevier sener valley coal company held their annual meeting saturday and consent ci ei to approved and authorized the creation and issue of mortgage bond bondi of the company to the amount of the mone so raised to be used first to repay the kaied raised b rion non commercial bonds second to advance to the denver denner S rio grande western railroad foi the purpose of completing the proposed twenty miles mile of cannon railroad this year and third the balance for operating e benses cob constructing trusting tipple and siding and purchasing and installing the heavy machinery needed to deeloy develop the mine to a capacity of eight hundred to a thousand tons per da the amount to be advanced to the i railroad company will be placed in escrow ecron to be drawn as the railroad needs it will bear tise per cent interest and will nill be refunded ata at a rate of 25 cents per ton of coal shipped tins this will ill agne a two to sided guarantee pua rantee to the coal co nipan that the railroad will ill com complete the canon line this bear air and to the railroad compin that tonnage will all be available when hen the line is completed the resolution authorizing the bond issue was as the mot most important business baquie of the meeting which Ii ieli was held Sa saturday afternoon in the commercial club rooms Pr president eident C J 1 sumner in the chair other matters i transacted x were ere hearing and approving the reports lenorth of general manager H E lewis levis anti and secretary treasurer continued on page six si sevier valley coal co votes continued Continue ii front from page one S K heppler and the election of the board of directors direct ori the latter resulted as fo follows Ilos C J sumner H E john A Da dastrup john R doolin J oscar anderson anderon J A Egild egildson bon and sterling sterlan K heppler the rhe report bi b the general manager co comred cohered tred in a most interesting mahrer all ph operations on the thou thousand acres of coal land hold bl bi the company partly b patent and parti by lea lease leae e from the government AM of the thousand acre li is ll 11 a mighty coal ein which ill m no place is fault faulted pd eroded or wasted tasted awa aia mth water ater and water nater rights equal to those of adv ten carbon county coal mines mine combined eacel a year ago on june 19 1924 the sevier sener valley coal co started building anti ana der deife 1 operations and erected tents tenta to house the employees these tents tenth were the only thing temporary cost about soo arid and even eden of this boniv the tent can canvass ab 11 be a loss as the luni lum her ber used for boarding anti and flooring the tents will ill be put to use again when hen the tents aie abandoned kt t all the same time the company started de ve loping the small mail upper coal vin in about 30 inch inches in size anti and ing a coal that in quality and thermal units una is is superior to any aej bituminous coal produced in the united states state th purpose of eloping te it was as three fold to produce coal for the compan compi nv h s own use to ascertain the drift of the big lein anti and to epan ment mant with the products byproducts by product in this co coil cod d which are of such a nature as to provide a good ad li tiona revenue all three goals were reached and the v ein no nov not only furnishes the coal the company needs but also enough for the local market if require I 1 I 1 other things accomplished during the first bear ear are the building of a sub substantial ware house which I 1 is completed arld ami as only a smaller portion at present I 1 is needed for warehouse purposes is being used for living quarters office and laboratory 1 liying tying the foundation tor a permanent office building to lie he erected immediately when needed lacing of sixty feet of alnico pipe to protect mine and camp against floods perfect sanitation of the camp construction cons of a stable for two horses placing of two mo tanks for water casing in of a fine well with anth pump to furnish the culinary water purchasing and installing all tools and machinery for drilling the shaft which hicl now is in 80 30 teet down and fully fulli cemented cemen tei to a depth of 79 feet cement mixer and steel pipe to pour the cement laying lacing in tile rece arv supply pipe sheet iron steel and valdesi val ahe vesi construction of several bridges a boiler house for three boilers of which aich two are installed and operating an engine house and a new boarding house etc by strictest economy and taking a of bu baving ing opportunities port unities as they came along thee things thing were ere accomplished with ith a surprisingly singly small outlay of money and everything that was purchased or made is fernian rt and usable to th the e best advantage even if the capacity of the mine in due time will wall be raised to 5 ton the shaft is a three compartment shaft of 1624 feet and I 1 of ample size to habille any production to sum up what there is behind the stock in addition to the enormous coal deposits mr air lewt lewis men dionel the ample water cater cuppl and running stream which puts purs the camp in a most enviable position sand and and gravel grael on the company companas comp anys s own ground all the mining timber that the mine anti and camp e eier er will neece a goo booi gooi I 1 gride of brick clay so with water arid and coat coal on hand the company conigan can manufacture their own bricks then nhen the building of houses will be necessary and so on the credit of the company is excellent all bills being discounted touching on the question of railroad and wagon road mr leius leis referred to the alil fi il harmon pre prevailing ailing between the railroad the state roal road commission the U S bureau of public roads road the U S forest service and the sevier counti count commissioners which augurs vell ell for an immediate start in railroad anti and road construction secretary heppler eppler Ef gave a full report on the th highly financial condition or the company and both reports then vere unanimously adopted among the stockholders present was C A pons of Stand aidville a high official of the stallard staniard Stani Stan ard lard coll coil company who corn complying pling with a ra request to state lub his opinion explained that the holdings of the sevier valley coal company have so many advantages oer all the carbon county coat coal mines that the future indech I 1 liok inki 3 bright and rosy |