The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-06-24
ARE TO CONSOLIDATE
Mercur and De Lamar Proper
ties VIII Combine.
SPECULATION AS TO NEW OFF,
GERS OF THE PROPERTY.

Tomorrow afternoon at o'clock the
stockholders Of the Mercur Mining COM
pany will meet and by their votes ratify
the consolidation of that great gold
producing property with its neighbor,
Captain De Lamer's Golden Gate.
Everything is in readiness Tor the gath
ering. and as the first stockholder OPP
posed to the move has yet to make him
self known, it is thought the verdict
viii be unanimous.
As soon as the vote has been taken
the reorganization of the Mercur COM
pany under the name of the Mercur
Consolidated Gold Mines company Will
take place, as per terms of the agree
mont made public few weeks ago,
and directors Of the new company VIII
be named. On the side Of the Mercur
company it is almost a certainty that
John Dern, John Heinrich and Charles
j. DeVereauX, the latter of Boston, viii
be chosen. On the opposite side no in
timatiOu OF who viii be selected by
Captain De Lamar has been given out,
but the belief prevails that Messrs.
Hartwig A. Cohen and James Il. Cum
bingham, the captains general man
ager and financial agent, respectively,
viii surely be chosen. Who the fourth
director on the De Lamar side will be
cannot even be conjectured.
One of the first matters to be cOnsiG-
cred after consolidation is agreed upon
viii be the day on which the old COM
panieS viii make their final clean up
and give the new organization possess
sion. Manager George II. Dern of the
Mercur says he expects the cleanup
VIII commence on the first day of the
month. When that is completed the
pay rolls will be closed and each con-
Germ win discharge It's individual liabiI-
tiles distribute its treasury reserves in
dividends, and turn over the closed
books to the new company and start
of with a clean sheet.
Nothing is known concerning the
plans OF the new company, but as the
De Lamar side will be in control, it is
surmised that Mr. Cohen will be named
as general manager, with the chances
strongly in favor of Mr.. Cunningham
as secretary. The belief is also general
that George e. Edwards, superintend-
ent or the Mercur mines, viii be given
charge Of the consolidated properties,
in Difference to the wishes of the mi
nOrity.
Ever since consolidation began to
look probable, drifting between the
workings OF the two mines has been in
progress, until now everything is in
ACclAAAtNoS " SCIlQ the ores LIfOu2n from
the MeTcur side to the Golden Gate
hoist, and nothing, therefore. stands in
the way Of combining the ores of the
TWO mines right from the start.
what VIII be done with the Mercur
mill has, of course. not been decided
upon, but il is safe to say it Evin be
taken out of commission after the big
IallngS DUMPS have been worked up.
as the policy VIII unQueStionably be to
reserve all the ores from the Mercur
size for mixing with the product of the
other, thus insuring the best results
Tor ar indefinite period.
1t IS 4 sure thing that the consolida-
ton Will not prove a detriment to the
camp, and the general opinion is that
II VIII be a benefit. The force required
VIII remain about the same as at pres
ent, with the Golden Gate wage scale
governing, and every man free to live
where he chooses, trade where he likes
and do as he likes in all things as long
as he gives the company value received
when on duty.