Bisbee daily review., 1903-10-27
MERGING OF TWO
 GREAT PROPERTIES

GREAT PROPERTIES THE OLD DOMINION AND UNITED
 GLOBE ARE CONSOLIDATED Assuming the Future Of Globe-The
 Phe'ps-Dodse Company Will Control
 the Destiny of the New Company
 Which Places it's Success Beyond
 Peradsenture.
 From the Globe Silver Belt is ob- tained the particulars contained in special dispatches and otherwise the details of the merger of the Old Dominion and United Globe mining companies at Globe, and which is one of the largest transactions occurring in Arizona The fact that parties. consolidated, are to be under the control of the Phelps-Dodge company is one of the strongest assurances of the future of the company itself and of Globe.
 Terms of the Deal.
 The Old Dominion stock holders are fairly dealt with, receiving share for share. The capital stock of the Oid Dominion company will be increased to 350.000 shares, of which Phelps, Dodge & company are to receive 130,- 600 shares and 20,000 shares to be added to the 50,0O0 shares now ln the treasury. In consideration of the is sue to them of 13O,000 shares of stock Phelps, Dodge 6 company not only transfer their Globe mining prop erty 10 the Old Dominion company, but they also pay s35O,O0O in cash The agreement carries with it control and the Old Dominion will hence forth be known as a Phelps-Dodge company.
 The president oI the consolidated company will be Prof. James Douglas, Charles s. Smith is to be vice pres ident, and C. H. AItmiller will con tinue as treasurer. The offices of the company will be retained in Boston.
 The Boston bankers who negotiat- ed the consolidation receive s50,VVJ 1br their services.
 Further particulars show that the more that is learned regarding the consolidation of the Old Dominion and United Globe mines the better n ap- Sears The financial S-raBgtb and restige which Phelp~ com pRAy will bTinr ion Company will be oi sa.est aa- vantage.
 The terms of the agreement are very favorable to the company. lac payment of $350, 900 in cash by Phelps Dodge & company relieves the imme- dlate financial necessities of the Old Dominion company. Five hundred thousand dollars additional needed to complete the new plant and furnish a working capital wll be raised on the credit of Phelps. Dodge & Go. The necessity Of bond issue is there by. obviate3. Old Dominion ooes not supply any cash and goes into the consolidation free of debt
 In the reorganization Professor Douglas will be placed at the head Of the company with full power to direct the mining operations at Globe. In the new directory Phelps. Dodge & members of the board. The offer to consolidate came from Professor Douglas.
 One large smelting plant will he erected fer both properties at Globe.
 Old Dominion stock is being well |, c n T., the face of sharp decline in the general list of copper stocks this week Ola Dominion has advanced. and should a change for the better take place in the stock market Old Domin ion should advance several points.
 Opinion is generally favorable to the consolidation. which is recognized as a natural and desirable union o1 two great forces in the Globe minins district
 The advantages to be gained by tho consolidation are. many.
 The new company will he muci stronger .han either Of the old one: and will own one of the largest copDe properties in the United States. fail well developed and with large ton naee of ore blocked out. the occur rences of suIphide in both propertie being important.
 The principal mines and claims the two companies are contiguous ant by the extension of the Old Domin ions system of railroad tracks, nearl all the mines can be conveniently or erated in connection with the ne' plant.
 The United Globe is deficient il fiuxing materials while the Old Dt minion has an abundance of iron an lime on its property The sulphid ores of the Old Dominion are jefcien in sulphur for a desirable converte product. The close relations wit the Copper Queen will enable them | procure the sulphide ores neede from Bisbee or advantageous termi and the Globe company will recipr' cate by furnishing the Douglas redu' tion works with the silica require for converter lining
 rho consolidation will ulafRr1aIi