Gilpin observer., 1899-03-09
The Denver Republican says:

The Denver Republican says:
The copper combine which has been
in course of organization for several
months is now practically an accom-
plished fact, and before many months
every distinctive copper mine and smell
ter In the United States will be includ-
ed in the combine.
This information came in a telegram
received yesterday announcing that a
bill had passed the Montana Legislature
modifying the terms upon which the
property of stock company could be
transferred.
Heretofore the law of Montana has
been that Il transfer of the property of
a stock company required the written
consent of all the stockholders. The
combine which has been endeayoring
to secure the control of the copper out
put of the country had been successful
in obtaining the consent of all the cop
per mining companies in Montana. but
found that the deal could not be carried
through on account of the terms of the
law. The result was the Introduction
of bill in the Montana Legislature
providing that the consent of two-thirds
of the stock should be sufficient to eff
feet legal transfer. This Abill was
passed just before the adjournment OF
the Legislature and is now the law of
Montana
The combine is now one of the most
important in the United States. 1t in
cludes all of the great copper producers
Of the United States, except the Michi-
gan mines. The center of copper smelt-
ing ores is Butte, Montana, and the
Butte companies have all agreed to go
into the combine. The United Verde
mines of Senator Clark of Montana, To-
or tr; will oil ~
included and several other copper prop
critics in Arizona are now being nego-
tiated for with every prospect of sue
cess. This will take in all of the great
copper mines of the country and 1t is
believed that the result will he the
maintenance of the price of bar copper
at high figure.
The recent sale Of the Colorado COM
pany of Butte was not included in the
combine at the time of the sale, but it
is said that the purchasers have agreed
to enter the combination.
The only producing mines that have
been left out are the great mines of
Michigan. and the combination is nego-
tiating with these companies.
An agent of the combine recently Wis
tied the Grand Encampment district of
Wyoming, not for the purchase of prop
erty but to see whether development
had progressed far enough 10 justify
the purchase of the prospects now in
operation in that district.
The combination will not affect the
situation i'm Colorado. at least at pres
ent. Most of the copper produced in this
state is in connection with gold and
silver, and there is no indication that
the combine cOntemplates engaging in
that branch of the business. The re-
cent discoveries in the Paradox valley
of this state have attracted the atten-
tion of the combine, but nothing has
been done toward securing the coop
Grafton of the owners of property in
that section. In the event that great
mines should be developed in that sec
ton. however, an effort will be made
to bring them into the arrangement.
Recent arrivals from Butte say that
ii Is an open secret in that section that
all of the large mines have entered the
combine. and that the companies inter
ested are all to increase their capacity,
as the production of copper is still far
short of supply. The final arrange
ments are to be made within the next
three months.