Adjourned Meeting Goldfield Belmont Extension page 29

ADJOURNED MEETING OF BOARD OF DIRECTORS OFGOLDFIELD BELMONT EXTENSION MINING COMPANY.The adjourned meeting of the Board of Directors of the Goldfield Belmont Extension Mining Company, was held at 3:00 o'clock P. M. on the l5th day of January, 1912, at theoffice of the Company, in the Registration Building at Gold-field, Nevada, all of the Directors beeing present.The Secretary addressed the chair, and reported to themeeting, that the property offered for sale by Mr. R. F. Brown, had been conveyed to the corporation and accepted by the pres-ident and Secretary for and on behalf of the corporation, and that there had been issued, One Million Four Hundred Ninety Eight Thousand Five Hundred share of the capital stock, to the afore-named gentleman, all of which was done in pursuance of the resol-ution adopted by the Board of Directors at the morning session.On motion duly made, seconded and carried, it was unan-imously,RESOLVED: that all of the acts of the president and Sec-retary, as reported by Mr. Byler, and as done in pursuance of a resolution passed at the morning session, be, and the same are, here-by ratified and confirmed.Mr, Brown suggested that the office of Manager be filled, and there being no objections, nominations were asked for and Mr. F. M. Chambers was nominated General Manager; there being no fur-ther nominations, it was, upon motion being duly made, seconded and carried,RESOLVED: that the Secretary cast a ballot for the meeting in favor of Mr. Chambers. This was done and Mr. Chambers was duly elected General Manager for the Company.Mr. Brown then addressed the meeting and stated that after consultation with other stockholders of the corporation, and after considering the fact that the Company was without funds and withoutany stock upon which funds could be raised and considering the advis-ability of the Company's prosecuting work upon its property diligent-ly, he had decided to offer to the corporation, Four Hundred Ninety Five Thousand (495,000) shares of its capital stock to be placed in the treasury of the Company and to be subject to issue upon the dir-ection of the Board of Directors for the purpose of raising funds, paying bills, purchasing property, and all other purposes which should be deemed proper by the Board of Directors, the said donation to be-come effective immediately, upon its acceptance, by the Board of Dir-ectors of the corporation.Upon motion duly made, seconded and carried, it was, RESOLVED: that the offer of Mr. Brown be, and the same hereby is accepted.Mr. Brown then addressed the meeting and stated that the property which the Company had acquired was formerly owned by the Goldfie-Midnight Pawnee Mining Company; that this Company having become involved in debts and being unable to raise funds with which to meet them, had lost their property by a Tax sale. It was Mr. Brown's opinion that the shareholders of the Goldfield Midnight-Pawnee Mining Company should be offered an opportunity to exchange their stock for stock of the Goldfield Belmont Extension Mining Company and in doing this they should be asked to pay one (1) cent for every share they offered, for transfer, in addition to surrendering their stock,i!