New-York tribune., 1906-12-15
COPPER MERGER REPORT
Greene Interests Taken ODer By the
AmaIgamateG, 1t Is SAID.

Control of the Greene Consolidated Copper
comnanv II is understood on excellent author
itv has PASSED to Thomas F. Cole and John D.
RYAN who represent the Amalgamated Copper
Company An official announcement concerning
a coalition of the Greene and Cole-Ryan inter-
ests is expected on Monday. following meeting
of the directors of the Greene company.
When Colonel Greene. president of the Greene
company, was seen yesterday afternoon he re-
fused to confirm the various circumstantial
stories concerning the merger. but he intimated
that a statement would be Forthcoming in day
or two that would show just what the new rela-
tions between the companies
Thomas F. Cole and John D. Ryan control the
Butte Coalition Company the North Butte and
other copper producing mines. and the taking
over of the Greene. If 1t is accomplished will
give the Amalgamsted interests almost absolute
control of the copper situation. The only big
American producers left out will be the Gala 1'et
and Heola and the Phelps. Dodge & Co inter-
ests. AS the Phelps. Dodge & Co. interests are
supposed to be represented in the new coalition
between Colonel Greene and the Cole-Ryan in
terests. 1t goes without saying that all the big
producers are working in harmony.
Messrs. Cole and Ryan already control the
Cananea Central Company, with a captS% OF
$10OOO0O0 $6.OO0,O00 of which is issued. The
Cananea Central is a new development lying
contiguous to the Greene properties in Northern
Sonora. Mexico. about fifty miles south OF the
Arizona line. The Cananea Central Company
was organized late last summer. 1t bought from
Colonel Greene several hundred acres of copper
prospects alongside the Greene, and at once
began opening shafts. The new company began
10 make money at once from shipping ore. The
company paid Colonel Greene 600 shares of
Cananea Central for the mineral lands that he
turned over TO them, and Colonel Greene turned
these shares into the treasury of the Greene
Copper Company. The Cananea Central has
smelter plant other than hosts. but IT is
understood that If the merger goes through as
planned, new smeter and new concentrator
will be built close to the Greene plant, which
has cost the Greene company up to date about
S160OOOO0 in gold.
The Greene company owns II per cent of the
stock of the Sierra Madre Land and Lumber
Company, which owns 200 900 of pine
timber, with stumpage estimated at 1900.
100000 feet. in Northern Chihuahua, only short
distance away from the Greene copper plant.
Brokers representing 1.-The lake" interests for
two weeks have been busy gathering In Greene
stock on the curb both in New York and Boston
There are 1.O00O0O shares of It, with a par value
Of $40 Ten days ago the stock sold around %.
33H
The stock OF the company is TO be under
written at 500 share. and on this basis a val
uation of $27 30 is placed on the Greene Con-
sOdated stock. exclusive of such distribution of
the treasury assets OF the Greene Consolidated
Copper Company may he made. Among
these treasury assets are included 1000 900
der the proposed plan of exchanges, It is fig
ured. is worth about S5.OO0,OO0.
Among those largely interested IN the new
company are II. H. Rogers, Thomas F. Cole.
John d. Ryan, John W. Gates. Phelps, Dodge &
Co. and Colonel w. c. Greene. The Greene com
pany has about 5000 stockholders.