Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1904-01-02
ANOTHER MERGER.
Standard Copper Mines and Coronado
Company Pool Their interests.

The Clifton Copper Era is in receipt
Of telegra phic information from c. A.
Ross, president of the Standard Ccp-
per mines, who is now in Boston, to
the effect that the Standard Consoli-
dated company has been formed for
the purpose of merging the Standard
Copper mines. the San Jose group of
mines and those of the Coronado Cop
per company. The new company has
a capital Ct 81 500, 900 with shares at
so each, 10000 of which have been is
sued to take over control Of the Coro-
nado company, the Standard Copper
mines and the San Jose group: the
balance being held for working capt.
tel, the purchase of other property and
for exchange to the minority share
holders of the Standard and Coronado
companies. The Standard shares.
which have par value of 81. will BE-
taken over at 81 each. and the Coro-
n9do shares. with a par value of $40.
will be taken at 81 each. Mr. Ross has
been elected of the Standard Ccnsoli-
dated company and also president OF
the Coronado Copper company w r.
Thompson he's been released from all
connection with either the Coronado
company or the San Jose group of
mines. The Standard and Coronado
companies will be continued until all
the stock of each ccmrany has been
exchanged for Standard Consolidated
shares, it being optional with holders
as to exchanging This merger does
away with the litiga ton pending be-
tween the Standard Copper mines and
w. p. Thompson and Ipolitto Cascar-
ELI over ground claimed by both par
ties, and il will also allow the work
ing of the San Jose mine from the IN
dergrOund workings Of the stand Ri.
which are now nearing the San Jose
line, and from which the best of the
Standard ore is now being taken. BY
this arrangement the San Jose mine,
one of the most promising in the dis
trict. can be opened at depth without
additional hosting plants or other i'm
provements, and will no doubt soon
be producing a large amount or rich
ore. as it is known that the Standard
veins run through the San Jose claim
This new arrangement puts a large
amount of working capital into the
treasury for development purposes.
which will enable the company to 1t
once put in machines and such ether
equipment as is necessary.
The Coronado company controls
about thirty claims, which are situat-
ed near Metcaf. and upon which the
company has done a large amount OF
development work during the past
year. The mines are well equipped for
working and have produced some ore
averaging 20 per cent. 1t is said that
large bodies of low grade ore have
been uncovered in the workings. All
of the claims have been surveyed for
patent, hence a perfect title to all the
property will soon be acquired The
Standard Consolidated enters the field
under most favorable circumstances.
In all it will now have between for
ty-five and fifty claims, to which 9TH
ers will be added from time to time.
The election of Mr.. Ross as president
of the Standard Consolidated is of it.
self a guarantee that there will be no
material change in the management
Of the old Standard company, which
has generally been complimented.
Even If the woman OF today did look