Correspondence, Levi Syphus to Sadie George

Mrs Saide B.George ^os Angeles,GaJ. ^ear Madam: - Yours of 29th was duly received and noted with intest. I think Ashton was feeling about to see what he could finde out that is if there was anv inclination to sell for a lower figuee etc.and still he might have been in earnest nnd tired of fooling along with Stewart,I dont know but what it would not be a good thing to take the lease away from him and see if he would not come down to brass tacks and tell what he was really trying to do,and if he would not then talk and Ashton had sonething in sight that would amount to any thing j||f and would put up some money gurahteeing it,we might get going more quickley. I wrote Stewart two or three weeks ago,and ask for information as to what he was accomplishing,but he has-ent given me any answer at all.I wish you would call him up again and see what he will do in the i§§| way of giveirtg information,and if he cant show tangable results I favor cuttibg of the leass,fcr I am reaching the point where I am getting tired of the whole business and the rest of us are the sane ,His ship building dope ought to be materializeing by this time,for i see by the papers that the concrete ships are a success in every way,and I am not convinced they will need Stewarts material at all*for the other is cheeper and if it is all that is required,it is all they want. * Any yay,just try him out and see what you can finde out ah this time. Johri Perkins,Gentries ^on-in- law,says he has a man who wants a 30 day option on the salt at $150,000 for the entire || deposit,cash at the end of the 30 days,I have a letter from Mr Toland about it to-day eniloseing a copy ot Perkins letter,I therefore conclude Perkins has also written you,Mr Toldnd desired to know what there was to it,saying lie had written McGonigel etc. but had not been able to get you on the phone,said he personaly would not be adverse to it if the otlieres all wanted to go ahead etc The parties here would like to sell at that f igure if it aoud be done and all were agreeable to it.,So let us know jsjdiat you think about it. Perkins wont tell w|?o his parties are'and we dont know whether or not there is anything more than hot air || attatched to it,and someone just wanting to see what they can do,I will say,however,that Perkins has been out with some mining men representing large people and | understand has sold them a groop of claims down near the Colorado,and received a small payment down,mangdne^se or somthing of the sort.and it may be a bonified proposition. In answereing foladnd 1 told him that if the option should be ginen we would want a provision atttatched under which the magnesite operators would be entitled to purchase all of the salt they wanted,while there should be any in the deposit at a stipulated figu Pe S t Thomas | A’e vada, Jun e . - 2 1h,1918 My readon for it was that,in the event al 1 should concluded to give the option and the property would be a sale,which | dont tlifnk it will jit migli$ result in the salt te ing held qt such a high figure that the magnesite could not operate,and we would be foolish to sell the salt and kill the magnesite possibilitfez^jand should all concluded to give the option it should be subject to sucli a provision,altho I am fasst' loosing faith in Stewart a lltoge tiler and also in the poss­ibility of getting anythin out of anything,and if matters dont soon change it is me for the sheep camp,where 1 can make a reall fortune (?) I dont care very much if you are a week or ten days in deciding on this salt matter,for something might develop in that time,but if it dosent,we would be very glad to give the oprioh and see what comes of it,for we need the money |§|| very badley.So tak,it over with Toland and cone to a cone lion' as to what you want to do. j§* 1 | | > |||||» Nothing new here,only every one is worked down,and some of1 us are very hard pressed besides,pf course not in a financial way. '. ? -? \? -. - ; i ; I dont know &&&&& what I haye said in this letter,scafacely, I have written it so hurridley,and havent time to go over it hut I hope it is pjlain to you that, we dont know anything at all about who perkins parties are,or wheveLer there is anything to the proposition,but we do know that if there is we would be very glad to make.the sale,if it is possible",unless something comes up in the mean time, Hastley yours and hopeing to hearr from youaoon,! remain ery truly yours Levi Syphus StThomasjNev. Mrs Sadie B.George 802 East Kenisington Road •‘"os Angeles Mrs Saide B.George dear Madam:- Am in receipt of a letter from Mr toland todaji with reference to the oprion ask hy Jerkins on the salt,of which I wrote you some days ago,Mf? Toland did not say whether or not he had talked with you about it,but I presume if he has not he will do so,and at that time ask him with reference to what he wrote me,I am not sending his letter to you because I want to show it to Bone H i . lie said he had not yet heard from all of his parties,and id did not sap what was the opinion of those he had heard from,but the general inferance was that they were favorable. S3 t T h o m a s J N e v a d a | J u n e . 20t l i , 1918 His idea is the agreement the deposit is that any matter of to the ’ present salt proper thing to do. that if a sale should be made that they would want t to provide that any road etc that, might be made to should be open to their salt etc.and his suggestion reservation in the contract that might be made in the reservxng salt for megnesite refini company,which would be r.g etc.should be jrflade ailriglit and the I look for Tplands people to favor the sale,and hope that when would have carefully thought it over you will also favor it,Unless you have something better that is really tangable and immediate/ for it will be a great releif to the valley-holders to dispose of it at that price at this time and if we are protected for salt for the magnesite,if it is ever needed,it will be a very good sale,I think for all,and will be a great relief at this end of the line. I know absolutley nothing who Prkips party is,and he said he was getting not one cent out of it onlyIsuch commission® as we might pay him.I think he is telling the truth,but cant say what will come of it ,he says his parties want it and wil pay the cash,it might be all just hot air,but we think it wise not to miss the chance. Have you had any tak with Stewart about liis affares,if not,please see him and fihde out if he has gotten anywhere,If not or if he wont, talk,I think it wise to cancell his lease. Please/ let me know within the next day or two what your conclusion are, and oblige ?- Yours very truly yours 1SI Hon Thomas 0.Toland Los Angeles,Cal* Dear Sir•« ' ' I ff|| Am in receipt of yours of 20th inst and have carefully noted same. The general1 proceedure outlined is O.K. But it now occures to me that it might be more advisable for the stockholders to givej an option upon their stock,makeing the exercise of the said opfom dependent upon the purchaser buying all of the outstanding stocfe f t of the company ,providing the holders therefif cared to sell same, makeing the purchase price of said stock,that is each share of jit, its proportionate part of the $150,000, l StThomas,Nev.June ,22nd,1918 My reason fbr this view as follows,to-wit,If the company X * x o y B U W B Cia i U h o w w i l i , * 1 b i l e CO lZBl should dispose.of its property as a company holding,it would atp the end of the 'year have to pay its income tax, which would coriBnjie . severall thousand dollars of the money,then after the balance/Md been devided amprig the various stockholders of the company,as per 9V their respective stockholdings,each would again have to pay thef' income tax upon their persona11 receipts from the same sale,or/»hat is from the dividend they had received from the company,which . in the agregate Would amount to very nearly as much as the income tax of the com|*any theretofore paid on the same sale. Would not this be the case?! . -.'A, • ' . . ; .. ... ' ? ; V ' . ;/ . \ \ It sept that we want to escape paying any regular tax to hhe Government,for dll that we have gPes if necessary for the proSicution of this war to a successful termination,but until1 that time comes \ we feel that we should be governed by ordinary business prudence, k In the event it shall seem more satisfactory for each to sell his stock rather than the companys property,thereby parting with the company alltogether;Could we riot in the matter of the reservation with reference to -the magnesite,have it run to some person as trustee, in place of to the company as you proposed,said trustee to M hdld the same in trust for the present stockholders of the company. If it could riot it would seem that it would be necessary for the company to make the sale of the property,stand for the double income tak and have the reservation run to itself. Please advise me at at earley day as to what your views are with reference to this phase of the subject. fj 0 u m Very truly yours -jgfr StThomas|Nev,June 22nd,1018 Mrs Sadie B.George ?^os Angeles,Pal. Dear Madam:- Yours received today ,also one from Mr Toland,reply bo which I am herewith enclosing for your perusal,The Judge will no doubt give you the correct view of this matter,if ray surmise concerning it is correct it would &&&&& hit usj§ pritty hard to have to pay the double tax. You ask why we take the first offer made,I will reply,that I do not have any faith much that it will be a sale,but that if it is we do not want to miss it because we need the money so badley we have3 to take it,providibg the sale can be made,Perkins has nevwr told me who liis parties are,but I suspect it is one of the big New York Mineral Purchaseing companys ,who has just purchasd from Prkins,through Eisenmeyer and Co.of you® city,sonce mangenee claims he had down near the Colorado river,and if I am correct,they will not give more for the property,because they will be acquir&ing it simpley as afufcurity holding for mineral reduction purposes.Ihave no way of raakeing Perkins tell who his parties are,and can only draw conclusions?" from his dealings with thesfej people, at any rate I think we will be getting a big price for tti|l lireperty,under present conditions,f or the prolfiQity of the magnesiiw being worked by the Stewart process is extrearaley remote,and if we are properly projected in all of the salt we may need for the purpose,at a stipulated' pric^we will be doing priitty well,and so far* as we here are concerned we would preferr to have a little money while we are alive thant/ a surplus when we are dead,Personally my salt stock.is in soak and I am going to loose it before many months,unless I can raise some money to redeem it with firom some source, I soaked evrything I had and borrowed heavily it in the land project,the river has got my ca one acre of the land,so you see bankrupseyfes face unless I can w o rk out soem way;* But that nor there as affecting the interests of till ba holders in the company,and no reason why they feel they can do better,But since Toland&peo feel that it is a fare price,it might be hStte than to risk staying in with strangers,however f o r y o u t„o decide .Personal l.y, my only concern is afraid nothing will come of it.and that there me for keeping out of bankrupcey,Excuse my tel but since you ask,I have simpley tried to make you. besides,and sank nnal and I caht sell streing ne in thejSf is neither heare lance of the s£ock-should sell if thpy. pie and Eonelli r for you to se-13 that is a matter that I am very much is no way open to ling my troubles, the matter plain to ‘ i W j - ' V J KJIA m x j . jl X ' ' U I U V . u i v u i . u u t J U U V V H 1 J L l i U U U l l u J L I U I i l J l U i V c 1 not bolieve he is goring to got any where ''nrt I should canoe 11 the lease with ' % H *Peti« a |iS * lKfe§felHB 5!’K s8lt the I i U l e noneyi R E T U R N T O HARRY G ENTR Y D E A L E R I N G E N E R A L M E R C H AN D ISE ST. T H O M A S , N E V A D A m $ T o \