Los Angeles herald., 1905-02-20
Merger of Properties Will
Reduce Organizations
to Two
SHELTER AT KINGMAN
Is NOW ASSURED
Copper Export for january
Activity in All California
Mines

for January were only 2O,494 TONS, only
400 tons of which were shipped to China.
Only two steamers. the Kentucky
and the Giulia were shown in the re-
ports to the metal exchange. The for
mer steamer carried small lots OF cop
per to Stetin, to Copenhagen, to Stock
holm and to Reval, Russia, while the
steamer Giula carried small lots TO
Fiume Russia and Trieste, Italy. Ac-
yording to the metal trade statistics
the exports during January, exclusive
Of southern ports, were, as above noted,
20,494 tons, against 29,0S5 tons in Janu-
ary, 1904. decrease of 1891 tons. OF the
exports last month 1880 tons were
shipped from New York. 1917 tons from
Baltimore and 1856 tons from Philadel-
phia; 20 tons of matte were also
shipped from New York.
The imports of copper during Janu-
ary at New York, Baltimore and Phila-
delphia by steamers only were as fol-
lows: 4S3 tons of copper from Europe.
22O2 tons of copper from Mexico. 233
tons of matte from Cuba. 200 tons Of
ores from Cuba and 10, 400 tons of ores
from Spain.
The inquiry for refined copper con-
tinues to be mainly for March, April
and May shipment but there seems
little prospect the negotiations will re-
suit in important actions in the do
mestic market in the near future. Lake
copper is still quotable at 1880 cash
and 15h delivered, 80 days: electrolytlc
= 4 AZ 11It In
and casting grades at 147sc to 15c cash
New York and 1915 delivered 80 days.
The European market for standard
copper has developed a little weaker
tone probably under realizations Of fu-
lures.
Gigantic Copper Consolidation
According to the Bisbee Review all
of the bonanza copper properties of
that camp are to be emerged into a
gigantic concern. In speaking of this
huge undertaking the paper says that
in the future there are to be two big
mining companies in Bisbee-the Cop
per Queen Consolidated Mining COM
pany and the Calumet & Arizona Con-
solidated Mining company.
The outline for the proposed consoli-
dation of all the Bonanza Circle prop
critics has been drawn and will be
passed on at meeting of the directors
of the C. & A. company.
The pay value of the stock of the
Consolidated company will be $40 per
share. and there are 100000 shares.
Every holder of C. & A. stock will re-
ceive six and three-eighths shares of
the new stock, and the other Bonanza
companies will share in the new issue
in proportion
The new stock should go on the
market at price ranging between $19
and $22 per share. according to the
selling price of the stock in the several
Bonanza companies at the present
time.
This will be the biggest copper min
ing camp in the world, and Arizona
will lead the United States in the pro-
duction of the red metal.
The merger will mean that the CAL
umet & Pittsburg, the Lake Superior
& Pittsburg, the Pittsburg & Duluth
and the Junction will pass out of ex-
istence as Individual organizations
and merge with the parent company,
the Calumet & Arizona. The name
of the latter, possibly with "Consoli-
dated" affixed, will probably be the
new name of the mighty consolidation
of wonderful copper properties embod-
led in the group.
The consolidation plan has been semi
nj ,e ~ l. 1A1
according to the following The cap
italization of the new company will be
$4,000, ,000 divided into 100000 shares
at par value of $10 and will be
divided so that each share of c. & A.
of the outstanding stock will entitle the
holders to six and three eighths shares
of the new stock; c.. & p. two and one
half shares, L. S. & p one and one-half
shares, p. & ID. one and one-half
shares.
If the present reported plans for the
Bonanza Circle Consolidated mines are
perfected the relative prices of the full
paia mining shares would be as fol-
lows Calumet & Arizona, $126; Cal
umet & Pittsburg, $SS; Lake Superior
g. Pittsburg, $685. Pittsburg & Duluth,
$50; Junction, 1913. 1t is said that Cal
umet G. Arizona, Calumet & Pittsburg
and Junction will be the most favorable
stocks.
Work on Mines
The Georgetown (Cal.) Gazette says
work is still progressing at the Ida
Mitchell mine. Cross cuts have been
run 10 feet easterly and about rs feet
westerly on the 500 foot level. The vein
was struck in the west cross cut,
Drifting on ii has been in progress for
some days. The vein at this point
shows very good rock. The easterly
cross cut will cut the "River Hill
yein." there being about 100 feet more
to run before this is accomplished,
Fifteen men are employed at the
Landecker mine, where a tunnel is be-
ing run I'm the channel.