Consolidated Nevada-Utah Corp

Inv# MB5012   Bond
Consolidated Nevada-Utah Corp
State(s): Nevada
Years: 1913
$100 6% Gold Bond. Franklin Lee Div-American Bank Note Co, NY. At least 8 of 15 coupons. Incorporated in Virginia. CONSOLIDATED NEVADA-UTAH CORPORATION NEVADA Office: 63 William St., New York. Mine at Pioche. Lincoln county, Nev., and Frisco, Beaver county, Utah. Officers: Chas. H. Clarkson, pres.: Win. B. Randall, treas.: Wm. F. Roberts, sec.: Jos. W. Kay, F. A. Dillingham, W. J. Palmer, directors. H. R. Van Wagenen. supt. Inc. 1913, in Virginia. Cap., $6,000.000. shares $3 par; issued $3,936,396: in treasury. $1.163.604; reserved for bond conversion, $900,000: authorized bond issue $90.000, 1st mtge.. 6%; issued. $499,867. Company without funds, and was unable to meet interest on outstanding bonds, May, 1919. Property closed down since 1918. Shares listed on New York Curb. At public auction in N'ew York, on Dec. 10. 1919, 1.200 shares were sold at $60 the lot, and $1.400 bonds for $55 the lot. Company is a reorganization of the Nevada-Utah Mines & Smelters Corporation, which went into bankruptcy in 1912, and whose holdings were sold under judgment proceedings for $100.000 to the new company. Stockholders in the old company who subscribed 50 cts. in cash for each share held, and deposited their old stock, received bonds for the cash paid by them and 200 shares of stock in the new company for each $100 subscribed. Property: 3 groups of mines, owned through control of subsidiary companies; the Pioche group at Pioche. including several productive mines that are largely developed : the Imperial group at Frisco, including the Comet mine and the Last Chance at Bingham, Utah. The Amalgamated Pioche Mines & Smelters Corp., organized to operate the properties of the Cons. Nevada-Utah has been inactive since 1917. Part of the holdings are leased to Uvada Copper Co. and sub-leased to the Black Metals. Inc., and the Combined Metals. Inc.. which see.

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $125.00