Beautiful uncancelled bond certificate from the Death Valley-Arcalvada Consolidated Mines Company issued in 1910. This historic document was printed by the Wahlgren Printing Co. and has an ornate border around it. This item has been hand signed by the Company's President, R.A. Salisbury and Secretary, and is over 101 years old. 20 coupons attached on right side. The company's mines were located at camp Dawson 3 miles east of Cima. In January, 1907, the Death Valley Company made its first ore shipment to the American Smelting and Refining Company in Salt Lake. During September 1907, the Death Valley and Arcalvada companies merged to form the Death Valley Arcalvada Consolidated Mining Company, and by November there were 75 men employed. In 1907 they produced 75,000 ounces of silver that year, but then operated only intermittently through 1930. THE WESTERN INVESTORS REVIEW - 1907 Completion of Consolidation. The consolidation of the Death Valley Gold Mining and Milling Company and the Arcalvada Mining and Milling Company has been completed, and the name of the new corporation Is to be known as the Death Valley-Arcalvada Consolidated Mines Company. Complete minutes of the consolidation are at the disposal of all the stockholders and correspondents, and we shall be pleased to send this very valuable information upon request to any address. The Financial Condition of the Corporation. The finances of the Death Valley-Arcalvada Consolidated Mines Company are In an absolutely perfect condition and starts in business October 1st, 1907, virtually without any indebtedness, and has in cash available, after paying all outstanding Indebtedness, about $25,000. Full and complete details regarding this feature will also be included in the report referred to, and mailed upon request to anybody. Special Sale of 500,000 Shares of Treasury StocK. This treasury stock is going to be sold to subscribers and to the public alike at 26 cents a share, with a special discount to subscribers of r"ecord. Beginning January 1st, 1908, the dividend fund will become active, and will be paid quarterly from that time on at the rate of 1 cent per quarter or 4 cents a share per year. In 1909 it is my firm opinion that the company will be able to pay 4 cents a share per quarter or 16 cents a share per year. Full Information about this will also be found In the report referred to. Guaranteed Reserve Dividend Fund. The present financial conditions of the Death Valley-Arcalvada Consolidated Mines Company are such that it has at Its disposal a sum of about twenty-five thousand dollars available. Add to this the sale of five hundred thousand shares of treasury stock, which will bring the working capital of the corporation up to about one hundred thousand dollars. This is ample and sufficient for all Its wants to buy all the machinery that may be necessary to open up six shafts, that is, four additional ones heretofore spoken of, and to bring the physical conditions of the mines to that point where the management will be able to ship ore, not less than one carload, and possibly three carloads, a day to the smelter. Therefore, at a meeting of the directors, which was confirmed in advance by the meeting of the stockholders, it was resolved and decided that from the amounts received from the smelter in payment for ore shipped, from the mines to the smelter, a special fund shall be established, to be known as the "guaranteed reserve dividend fund." This shall be kept in a separate bank under the immediate supervision of the treasurer, and shall be used for no other purpose except to accumulate for the distinct object of paying dividends to the stockholders. This fund shall begin to accumulate almost at once, or as soon as the sale of the 600,000 shares of treasury stock shall have commenced. Even at the rate at which we are shipping now, within three months, that is during the months of October, November and December, a sum exceeding 150,000 should accumulate in this manner. This will enable us to pay a dividend at the proper time of about one and one-fourth cents a share. This dividend rate it is intended shall be kept up. amounting to five cents a share annually, or until the guaranteed dividend fund has in It a sufficient sum to enable the corporation to pay more; but let it be distinctly understood, by the order of the directors, that the guaranteed dividend 'fund must retain within itself a sum of not less than $50,000 over and above the amount needed to pay dividends at the rate of five cents per share per annum before any rise in the dividend rate shall take effect. This guarantees to all stockholders a dividend of five cents per share per year. To many stockholders this will mean more than 100 per cent annually. To a large number it will mean 50 per cent, dividends annually on their investment, and to a still larger number it will mean 25 per cent, annually. When we say annually, in speaking of dividend rate, we mean of course figuring the price at which the subscriber bought his stock, and that Is the only true way of figuring. The five hundred thousand shares that are offered for sale at 25 cents a share are open alike 10 the public and to the stockholders, although the stockholders on record will receive an extra inducement In the way of a discount. This puts the future of the Death Valley-Arcalvada Consolidated Mines Company and its financial condition impervious to any break that may come, and it will be enabled to maintain its prestige and prove a paying investment even at the present rate on the stock of 20 cents per annum on the investment. This is something that everyone should consider. There is no stock being placed on the market to-day which almost guarantees the dividend spoken of, and the probable rise of the value of the share of from 25 cents a share to from two to five dollars a share within the next year. Prompt action, grasping opportunities, is what is needed now on the reader's part, and we hope to hear from one and all. , Transfer Your Certificates. All stockholders in either the Death Valley Gold Mining and Milling Company, or the Arcalvada Mining and Milling Company are hereby notified to send at once their certificates to Charles A. Tarbel, Treasurer of the Death Valley-Arcalvada Consolidated Mines Company to be transferred in the new company. Let it be distinctly understood that unless the stock now held by subscribers in either of the constituent companies is transferred in the new company, the new company will take no cognizance of the same, and should any dividend be declared, It will only be paid on the stock that has been transferred Into the new company. Take careful notice of this and tnke Immerimte action. When you send your stock, if you desire to have it returned to you by registered mail, enclose postage stamps to the amount of 10 cents, so that that can be done. There is no charge for transferring the certificates, which you now hold in either of the old companies, into the new company. That is to say, If you hold three certificates in either the Death Valley or Arcalvada companies, three certificates will be issued to you in the new company to such names and in such amounts as you nrny designate, but should you desire more -ertlflcates than the number of certificates you now hold In either of the other companies, a registerIn* fee of 25 cents for each new certificate will be required, and must accompany your application for transfer. Address all correspondence and make all remittances payable to GHAS. A. TARBEL, Treasurer And Stock research by OldCompany.com (old stock certificate research service).