TITLE: NEW MINING COMPANY INCORPORATES
Plans of a $500,000 eastern corporation to reopen the historic New Almaden quicksilver mines 13 miles south of here on a massive large scale production, as announced exclusively in The San Jose News Tuesday, were given added impetus today when articles of incorporation for another quicksilver mining venture were filed with County Clerk Frank W. Hogan.
The new corporation, titled the "California Quicksilver Company," is a California corporation with head offices in San Francisco. Although capitalized at $50,000 by permission of the California secretary of state last November, articles were not filed here until this morning. The articles give the corporation powers to engage in a general mining business, including quicksilver, platinum, gold, silver, copper, zinc, lead, brass, iron and steel and other kinds of ores and minerals. In addition the corporation is permitted to "acquire the good will, rights and property to undertake the whole or any part of the assets, liabilities of any person, firm, association or corporation, and to pay for the same in cash, stock or bonds of the corporation, or otherwise."
Stock will be of one class, number 50,000 shares, of $1 par value per share. Directors are five, all San Franciscans. They are: G. Wilcox, T. Clavner, H. Strauss, B. Herbert and H. Johnston.
Due to war-time boom in quicksilver prices, mining men estimate the New Almaden mines operating on a large scale could produce $6,000,000 annually. The $500,000 corporation which has obtained option on the mining land and recorded conditional leases is headed by P. Eugene Newbold of Philadelphia, Pa.
Newbold, P. Eugene
|Cataloged by||Boudreault, Art|