The copper era., 1904-01-07
STANDARD SHAREHOLDERS
 DISCUSS MERGER.
The Proposition Fully Explained at a
 Meeting Saturday Night.

V
 pie. Tn addressing the meeting Mir
 Ross, president Of the Standard Cop
 per mines, spoke as follows;
 "T find that great number Of share
 holders on the register are unable to
 be present, and therefore deem it ad
 visaole to send q circular to each and
 every shareholder, giving the details
 Of the new company. This compa ny
 the Standard Consolidated Copper
 company, was formed in Boston with
 a capital Of s1 LOO OOO for the purpose
 Of acquiring the controlling interes,
 in the Standard Copper mines, acquir-
 ing the San Jose group of mines, and
 all other property in the vicinity Oi
 the Standard Copper mines. 1 was ap-
 preached to convert my interest in the
 Standard Copper mines, a. well as ac- fquiring large block of shares in
 England. Alter considerable negotia-
 ton, I arranged to transfer my inter-
 est and the shares that my friends had
 acquired to the extent of 22O, ,OOO
 shares Of the Standard Copper mines 1 to this company at the rate Of E. per share in shares of the Standard Con- solidated. Before doing this, I stipu- 1 lated that all shareholders in the i Standard Copper mines should have l the same right. This was finally agreed to and d certain time was al ! lowed for the conversion Of the Stan
 dard Copper mines shares to the Stan | dard Consolidated. The Standard | Consolidated also acquired the con-
 trol Of the Coronado Mining company. amounting to 57 GOO shares out of lOO.- | GOO shares for very nominal sum. | The Standard Consolidated has ac- | quired at present the actual control Of
 the Standard Copper mines to the eN- tent of 20, GOO shares, the control Of the Coronado to the extent of y ,000 shares, aod the possession of the San Jose and other properties. The Stan dard Consolidated did me the honor to elect me president. They are backed by strong and powerful capital throughout New England and have a large amount of cash in their treas ury to develop the properties under their control. The shareholders of the Standard Copper mines have this option open to them to join the new company for only a short time. Should they decide, therefore, not to convert, they will remain in exactly the same position as they are now. The expenses will not be increased and all the earnings will go into the cOfrerS of the Standard Copper mines, to be divided amongst the sharehOld CTS. The management will remain absolutely the same and the condition of things will remain unchanged. The Standard Consolidated will have no more right than any other share holder owning a few shares. Should the shareholders in the Stan dard Copper mines not join the Con- solldated company, theg will not reap any benefits or the profits accruiUg from the working of the properties owned by the Standard Consolidated. ! These are the facts concerning this l new company. A circular stating these points will be issued to the l shareholders of the Standard Copper mines and they will be given two weeks l after the mailing of this circular to l decide whether they wish to join the | Consolidated company or remain in- | dividual shareholders in the Standard | Copper mines. l can assure each and | every member of the Standard Cop | per mines, should they decide to re- main as they are, that their position 1 will remain absolutely unalterCd. The | company will be carried on as it al- | ways has been, the expenses will be | kept down to the lowest possible point | and every care and detail of manage meut will be carefully looked into as heretofore. The offices will remain in | Clifton, the board of directors will be here and they shall be arswerable to their shareholders at the annual meet inge for an account of their steward ship. and the Standard Consolidated company will b. merely q shareholder in the Standard Copper mines. 1 have joined the consolidation because think, after careful consideration, that it was personally a benefit to myself and to my holdings. The Standard being 2 strong company and backed by strong people and cap ital. will have their shares listed on the Boston market. They will be en- ablPd to acquire property and with their capital will be enabled IO work them. and ;he benefits acCrui lg from the results of these workings will be distributed among the share eholders, and should the Standard not keep up it's values. there k always the chance of the other properties becoming as rich and valuab' as these are.
 Another very strong factor ;u the case k the end of all litigation which has been so expensive and annoying to us. l may tell you that the late liti- gatiou between the San Jose and the Standard cost the company something like Sl0,0O0 besides the annoyance and trouble tO your directors, which has been even more than the amount spent.
 MT Ross then left it 10 the share holders present to express themselves on the subject.
 Wm. Hof spoke at some length with a great deal of warmth from personal standpoint. his remarks at one moment being in favor of joining and at another moment against il, finally winding up with decision to join the crowd.
 Dave Clark followed with strong expressions oi disapproval of the scheme.
 Mir. Barclay was called upon to ex- press himself and he did so in rather plain and straightforward manner, | saying he understood from Mir. Ross, who had stated the matter very clear ly and concisely. that there were two courses open; either to join the new company or remain exactly as they l were under the old management.
 F.. NJ. Williams spoke at some length and his remarks were well chosen and
 l.