Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-01-16
COPPER MEN
TO COMBINE
Butte Mines Will Be In the
Consolidation.
PRICES ARE A WAY UP
The Deal Said 10 Include B. &. NJ, B.
4 b., Dominion, OsceOla, Tam
arack and Dominion Cos.

New York, Jan. 16. The Herald says:
Negotiations looking to the consolidation
of the copper mining interests of the
United States have been in progress in
this city for a week. With a reputed
backing no less powerful than that Of
the Standard Oil interests, the American
Copper Mining company in it's combna-
ton of six plants expects to revolution
ize the copper mining industry of the
world in which the United States already
figures as the chief factor. The Boston
& Montana and the Butte & Boston Min
ing companies, the Dominion Copper
company of Arizona and the Arcadian,
Tamarack and Osceola Mining companies
of Michigan are named as the component
parts of the new organization. 1t is un-
derstood that the American company
will reach into Canada and absorb i'm
portant copper mines there, thus making
the combination international, but the
Calumet & Hecla company, the largest
producer in the Lake Superior region, has
so far declined to enter this combination.
Dsnterested observers of the transac-
tons in copper mining stocks for 1898 de-
clare that a small cotcrie Of men have
added $4,000 900 to their wealth through
this channel The combination springs
from the recent upheaval in copper.
Prices have scared to the highest figures
known in the face Of unprecedented con-
sumption. The employment of electrical
energy has caused an enormous demand
for copper. The European countries alone
last year used 456,7S9579 pounds and
when it is considered that American
mines supply most of the foreign require
ments. in addition to home demands, the
possibilities in the copper situation be-
comes apparent.
Hints Of consolidation received publ
city fist through the protective commit
tee OF the Boston & Montana company.
Stockholders were asked to deposit their
shares with a Boston trust company in
order that they might be available for
protection against attacks on the COM
pany's property" The matter was in
charge of A. S. Bigelow, head of the Bige-
low-Clark Mining syndicate of Montana;
Sidney Chase, head of brokerage firm
recognized as being representatives of
the Standard Oil company; Samuel IN
termeyer, an attorney for the Standard,
and Edward c. Perkins. This request for
the hypothecation of the stock has all
along been regarded as a concentration
preparatory to effectng the combination.
The Montana mines are the second most
important in the state which heads the
list of copper producing states, being ex-
ceeded in Importance only by the Ana
conda mine owned by Marcus Daily and
]. b. Haggin. The Arcadian, Tamarack
and Osceola properties are in the Han
cock Houghton copper belt in the north
ern Michigan peninsula. The Arcadan
mine has not been worked to any great
extent, although its shares advanced at
mention Of the consolidation scheme from
25 to Is points. The Portage Lake dis
trict where the Michigan mines involved
are located, is in the throes of copper
craze that apprOXimates the kaffir mania
in south Africa.
Brokers from Boston, which is the
American copper exchange, are doing a
rushing business at branch offices opened
on the ground floor and people are buy
ing mining shares as fast as stock certifi-
Gates can be issued.
Lewisohn Brothers Of this city are
credited with being the principal factors
in inspiring new investments in American
copper mines. They have agents al Lon
don and Paris and have encouraged the
especial export trade. They are said to
have had their first experience with cop
per in an investment in Boston & Mon
tana stock years ago when no railroad
penetrated the Butte country. They have
held the stock for years and when a rail-
road finally did enter Butte and the mine
could be operated with a show of profit
they found a fortune at their command
The Rockefeller interests after heavy
investments in IRON ore fields, were en-
couragrd to investigate copper mines with
the result that they bought heavily in
the Michigan district. 1t is one of the per-
sistent reports of the day that the Roths-
childs have made overtures to them look
ing to syndicate control of all the cop
per mines in the world.