Letter from Cederstrom, 24 March 1893
Salt Lake City, .
Gentlemen:
I respectfully make the following proposition
relative to organizing and incorporating a company for
the operation and working of our "Marble Agate" Onyx Mine,
at Pelican Point, Utah:
The Corporation to have a paid capital of $100,000, divid-
ed into 2000 shares of $50 each, to be contributed and paid
in as follows:
1. The mining property, $50,000
2. Cash, to be paid in as working capital
and improvements, 50,000
We, the present owners of the mine, propose to contribute
the mining property, conveying perfect patent title to the
corporation, for the consideration of one-half the stock, to
be considered fully paid up and non-assessable. The remain-
ing stock to be contributed by the other incorporators as
follows, and for which they will be entitled to one-half of
the whole capital stock of the company, to wit:
1. At least $25,000 in an Onyx plant or Works, for the saw-
ing, manufacturing and otherwise rendering fit for market
the products of the property; said works to be begun immediate
ly after incorporation, and work thereon and therein to be
prosecuted without cessation thereafter.
