The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-16

Of J. A. Coram's $150,00O,OOO
American Consolidated Cop
per Company.
WABASH'S CAPITALIZATION
CON. JEFFERSON SHAREHOLDER
VOTE DOWN BOND ISSUE.

A bulletin from Boston states that Z.
Augustus Heinze is slated to become
the president Of Joseph A. Coram's
S15G, 900, 600 American Consolidated Cop
per company. This announcement has
brought about considerable local specu-
Iation as to the probable fate of Bing-
ham Consolidated. It is now thought
possible that the appearance of Mr..
Heinze's engineers at the properties of
the company has something TO do with
the acceptance of the position rendered
TO erstwhile foe of Amalgamated. Mr..
Heinze's declaration that none Of his
pro erties other than those affected by
the Amalgamated fight for title and
possession were included in the deal by
which peace was. secured early in the
week is also pointed to as a reason why
there may be some understanding by
which Heinze may head the big COM
pany and allow his remaining Butte
properties to so into it.
z. L White, president of the Bing-
ham Consolidated and also president of
the Montana Coal & Coke company,
has just sent a letter to the shaTehOld-
ers of the latter company inclOsing the
proposition of Joseph A. Coram to take
over the Montana Coal & Coke COM
pany. AS the proposition gives the first
definite idea of the scope of Coram' s
American Consolidated company, and
as Mr. White recommends an accept
ance of the offer, it is reproduced, as
follows:
'"To the Board of Directors of the
Montana Coal & Coke Company:
Gentlemen hereby make the fol-
lowing offer to the stockholders OF the
Montana Coal & Coke company through
you I will exchange one share Of
American Consolidated Copper COM
pany stock for each eight shares of the
Montana Coal & Coke company stock,
provided a majority Of the shares can
be acquired for exchange on or before
the 18th day Of February, 1906. For the
purpose of carrying out this offer. the
stockholders of the Montana Coal &
Coke company may deposit their stock
with the Federal Trust company, 90
MIX street, Boston, and receive there
for negotiable receipts in exchange, sat
iSfactOTy to the Boston stock exchange.
1.-THE American Consolidated Copper
company has been organized under the
laws Of the state Of Maine with total
authorized capital of S150.O00.000. di-
vided into 100000 shares of the par
value of 500 each.
The first issue will be 365. 600 shares.
or a total Of SGT, 500, 00a, and no addi-
tiOnal stock can be issued for less than
its par vaiue, S1eO per share.
The company will have in its treas
ury cash working capital Of s., 900. 900.
and will OWL d very large group OF
copper mines in the center of the min
erai district of Butte. Mont, including
the properties known as the Davis es-
tate mines and the DAILY Mining COM
pany's mines OF the estate of the late
Marcus DAILY.
These properties have been reported
upon for the American Consolidated
Copper company by Captain g. H. Pal
Iner. Z. H. Wilson, Captain Ben libby,
Captain Duncan Mac Vichie and Carol
II. Hand. Their reports are exceeding
" favorable, and show net earnings on
a production of 1900 tons day Of ST.
407,15 per annum, which is equal TO 20
PER cent earnings or the S36.500,00 TO
be issued