The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-01-26
MINING DEAL Of
HUGE DIMENSIONS
Guggenheim Interests Secure
an Option on Control of
Nevada Con.
SUM INVOLVED OVER
ELEVEN MILLIONS
Importance of Deal Cannot Be
0yerestimated to Cop
per District.

That this is an age of mining deals
tremendous In extent and Importance the
recent great combinations have eloquent
ly testified, and that the ye0r 1905 VIII
not be far behind the record established
by 1905 H. indeed. not far In advance of
the previous year, present Developments
are fairly t-ampling upon one another
to demonstrate The latest deal of mag
nltude WAS whispered about the streets
Thursday and which was To the effect
that tho GugCenheims had secured All op-
tion on n block OF Nevada Consolidated
stock constituting the control OF that or
Ganzation
Deal of Huge Proportions.
1t can bc stated with so fair A degree OF
certainty az 10 be quite accurate that
the GtCgenhcim people have succeeded
In securing an option on 5l per cent of
the stock OF the Nevada Consolidated.
Should this be definitely verified by sub
sequcnt events. and There Is no doubt
but what II will be, the Importance OF
tho deal cannot be overcsJmatcd. Should
the negotiations be confined to the total
amount OF shares of the Nevada Con
solidatcd that are I'm existence, TO the
extent of 96D,0N0 shares, 81 per cent Of this
number would be iS9 COO shares that are
Included within the scope of the neGotia-
tlonS,
Twenty Dollars Per Share.
The basis upon which the deal has been
consummatcd is said to be so per share
which would mean that for the bare con-
troll Of the Nevada Consolidated the ven
dces Will have to pay the neat sum OF
Sl. Is2,0OO The Importance of the deal
can readily he seen, yet Its renl Import is
not easily gTdsped. 1t means what might
be termed the beginning OF a mining era
Involving as much. II not more than the
average prosperous and uninvestignted
life insurance company.
Eloquent Argument for Camp.
No more sincere testimony could bc
given to the world tending to establish
the permanency and true worth OF the
small end heretofore rather diuly con-
sidered Nevada copper camp than such
q deal for practically half of one prop
crty involving rs many millions as the
camp Ia months old. 1t also shows to
what extent competing companies are
willing to 60 for the purpose OF keeping
their prestige constantly smooth and with
n shining surface.
Result of Experts Reports,
Recently George Gum. prominent and
well known as the GugGenheim expert.
gave the Nevada Consolidated properties
q most thorough and exhaustive eX-
animation. This was known at the time,
although what might he the outcome OF
his activity was a matter Of conjecture,
and 1t is generally conceded by those who
have succeeded In keeping I'm touch with
the SITUATION mat lnc results oil MT.
Gums examination, as well as the re-
cent examination and report made by J.
Parke Chanting, general manager of the
Tennessee Copper company. the eminent
expert and engineer had much to do with
the successful termination of the present
deal
Race Is Becoming Interesting
Tho race between the Guggenheim in
tcrcsts and the newly organized United
states company bids fair to assume
large and warm proportions. 1t bids fair
to be of vast Interest to the world gen
erally. and. Of course of corresponding