The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-06-29

None of the properties of the great
Anaconda have been sold to the Roth
schilds or any other person or syndl-
cate. nor have any of them ever been
offered for sale. The reorganization OF
the Anaconda Mining company was
not effected for the purpose of unload
ing the properties. but rather to en-
able the com pany to increase its capt.
tai stock, and, If such should be
deemed the desirable course, place
some Of the stock on the open market.
This was the official statement made
by Irving Z. Stump, Of New York,
manager of the Hearst estate. one of
the heavy stockholders in the Anacon-
"a Tho gentleman came down yester-
day from the north where he had been
attending the several meetings of the
old and the new companies in order to
look after the interests of the estate
whose great affairs are receiving his
personal attention. He was found al
the Alta club last evening, after an
afternoon spent out at Saltair. TO a
Herald reporter MIR. Stump stated that
practically all OF the stories which
have recently been placed in circula-
ton regarding the affairs of the Ana
conda company have been based upon
no truth, but on the contrary have
been the imaginings of some fertile
brain, this being especially the case
with the statements relative to the
alleged sale of the properties to the
ROthschilds and other foreign syndi-
Gates.
Why the Change Was Made.
Said Mr.. Stump: In 1891 the Ana
apairr 4
with capital stock of $25 Co., 600, di-
Nided into LOCO, 900 shares of the par
value of S25, and now the prop
critics Of the company are reincorpor-
ated under the name of the Anaconda
Copper company, with a capital stock
of $50, 0V0 600, divided into 100000
shares of the par value of $50
All of the properties Of the Anaconda
Mining company have been trans
ferred to the new corporation, the con-
sideration being the capital stock of
the Anaconda Copper company. The
old board of directors and executive
officers viii serve the new company.
The Anaconda Mining company has
not yet been disincorporated, but it
has reduced its capital stock from
S25. 100000 to 81, 200 COO, which capitali-
cation will be sufficient to enable the
company to wind up its affairs, there
@being some sales of copper still to re-
ceiVe attention, part of the metal be
alng now on hand and the remainder in
Transit. on the first day of the COM
5lng month the new company will
commence it's service, and until that
date the Anaconda Mining company
has charge of affairs as before.
Properties Have Not Been Sold.
All reports that the Anaconda prop
critics have been sold to the Roth
in every particular. 1t is not the in
TentiOn of the owners to offer the
property, as a whole or part, to any
party or parties. No such offer was
made last year, nor has one been made
this Regarding the statement that
the properties OF the Chambers syn
dictate are TO incorporated with the
original Anacondas, and the whole
sold for $50. coo. 900, ] have only to say
that no such syndicate as the Cham
bers syndicate is known in the affairs
of the Anaconda company, for the
properties which are sometimes refer
red to as those Of the Chambers syn
dictate are now and have always been
part of the Anaconda holdings, and
from them some of the richest ores
treated by the company are being ex-
tracted.
stock VIII BE Listed.
1T is highly probable that the stock
Of the Anaconda Copper company will
be listed on the New York stock eX-
change before the close of the year.
The reports of the operation of the
properties show that the company will
pay sd satisfactory dividends on the in
creased capital stock of $50 900, 600 The
properties never were in better shape
than at present, and everything is be-
ing operated at full force
There is another story going the
rounds which needs some attention.
and that is the statement that the
Hearsts are DESTROYS of securing the
control Of the Anaconda Standard. the
company's newspaper. This is entire
~ false. l am the manager of the
Hearst estate, and to my knowledge
no such move has ever been made or
is one in contemplation. There will
be no change in the affairs of the
standard
In company with Hon. Robert c.
Chambers, Mr.. Stump Will this morn
ing go up to the Park for the purpose
or inspecting the properties of the ON
tarlo and DAILY and viii spend the dav
IN the camp, returning this evening
lie viii leave for New York tomorrow
evening and expects to reach that civ
by the middle of the coming month.