MINEBK00180

• County: San Juan
• Document: Manager
• Suffix: A

but I am confident, after a careful study of the situation, that if we had these facilities the company
could be put ott adividend-paying basis in a short time.
* s * r ^ ^ a
In conclusion, would say I am perfectly willing to join with the outer holders of rite company's
paper in cancelling our indebtedness in the manner above set forth, or in any other tvay that map be
agreed upon by all, and further, I believe if all the stockholders could have had the opporntnity of
a~amining the property as I have done that the money necessary to make the improvements needed
could be easily raised.
\\%ishing }•ou success with this company as well as in your other varied investments, I ant,
Yours very respectiully,
(Sigrtecl) GRO. L. SPGiVC)r.
RrHO 1\4R. GLORGG L. SPGNCI: IS.
DIr. George L. Spence is a director and a member of the lliscount connnittm of the Pcoplc's
Savings Lank of D'Iartin's Pem•, Ohio: he is also vice-president of the Pidelin• SncinGs and Loan Com-
pang of the same plain, and has been n member of its loan :uul lin:utce couuuittec since tSSS. \\'hcu
DIr. Spence was a yours;; man his Gnher invested in soots ;;old mines :unl Dlr. Gcor;;e L. Spence wits
put in charge and lived at the mines as sttperintcudent Gn• tlu•ec ye:u•s. Since th:d tiutc he has spent
from one to hco months rtch yru• in vision; and ex:uninin;; mines in Colnr;ulo and the \Vest in
trhich he is interested, some of them the l:u;,est mines n( the country, tn:d:in~ him rgrtble ui p:usin
upon the value of a ntinittlr property. hor thirteen yen's Dlr. Spence teas an active owner in a cony
pang nt:utufaclurinh steam cul;ines and tlucshinn marltines. I Ic is lretsurer of the St:ntton l leuiur
Crnnpany, h:n•ing I;u•7;e works at Dl:u•tin's berry. Ohio. IIc is vim-president of Ihy tipcuce-Ra;;;;s Stove
\Vorla, otcninr foundry and lar;;e tvarchnttses, o•hich Icne been in continuous operation fur ~; yews.
.3
C
r
I'.
~•
~ S^
~:._
~',+
f' .:
,~:

t!

Shoa•Ing upper tcrminul nt Ko. 7 tunnel. 1'he Lulicr hu Wnog is neurly Uo Ycet high, In which the utouxnnd•
ton ore bin can bo aeon, us IL lx nmde nt the Bond timherx. The upper terndnnl ur the tnuu line Ix In tho one~xutry
I•ullding nttnched. The enr trnek from No. 7 tunnel entcrx In the roof of Ltle tltghcxt IIOrLtOtl, ittnt pnxxex through
the blacksmith ahoD, the Inxt bonding xecn on Ute dumD.. After pnssing through tho bincl:xuttth xhop it uutera nlong~
nldu thc~ tunnel and power house where Ko. 7 tunnel uuterx the monnutln. The picture xhoero thnt thlx mmmutht
Ix eery steCP. We fou:'d IL IngioxxlLle to get u Good Picture u[ there U•nulnnl bulldlugx ou ncruunt oC We xlcep
uunuttutn xldu uud obxlrucuone, necexxitatlu6 telaug the pholograVh nt n long dlxlfutce, uudang the 6uildlugx
look xnmll.