Bisbee daily review., 1906-12-23
COLE AND RYAN HAVE ISSUED
 STATEMENT
Basis Upon Which Greene Con- solidated and Cananea Cen hai Were Merged-lncor- porated in Minnesota.
DIRECTORS NAMED
 FOR NEW CONCERN.

Boston-Following Is the form in whlcA the new purchasers of the con trol of the Greene Consolidated Cop per Co. gave out the official statement of the transaction:
 Tt is announcnt Ay the pszties in tereSted that a deal has been com pletei by which Messrs. Thomas F. Cole and John D. Ryan. and their as soctates, have acquired heavy inter este in the Greene Consolidated Cop per Co. Messrs. Cole. Ryan and Col. Greene have already large interests in the Cananea Central Copper Co. and thsse two companies. controlling. as they do. practically the entire ca of Canaaea. will be merged into a Greene Cananea Copper Co. The new compauy will issue 5000. 900 of stock of the par value of $20 per share. and will exchange its stock for Greene Consolidated on the basis of 3o.00O.oou for the property. and for the stock of the Cananea Central on the basls of 2o,000. .000 for the property. Ample cash has been provided in this plan for enlargement of plants and develop mert of property. No stock wili be offered to the public. Messrs. Cole. Ryan and Greene will leave shortly for Mexico to inspect the property and lay out a plan for equipment and de velopment. ]
 The Greene Consolidated Copper Co . now one of the large copper .pspdQcers ot the world. and it is be lteved that the new company will not be excelled in production by any com pany now in existence. The company will he incorporated under the laws of Minnesota. with nine directors who will represent ali the large interests concerned MT. Cole will be it's pres ident and Colonel Greene its vice-pres- ident"
 The new company. it may be stated on authority. will take over the cash assets DOW in the treasury of the two subsidiary companies which will amount to more in the aggregate than s6, coo. .00o.
 The basis of exchange of stock Of the new company for that of the old win be 1-2 shares of the new com many for one share of the Greene Con solidated Co. and 2-3 shares Of the new company for one share of the Cananea Central Go.
 The directors. it may be stated. VIII be entirely a Ryan-Cole board. with the exception that Colonel W. C. Greene will be made 8 director. as well as yice-presiaent.
 The combined holdings of the new company will comprise more than zo.- 900 acres and if this were in one compact body. it would mean an area of ten miles long by two miles vide The property contains more territory than four times the entire producing territory of the Butte camp.
 There will be nine directors on the board of the new company that IS to be organized to take oyer the control of the Greene Consolidated Copper Co. The board will be classified. the df- rectors holding office respectively fof one. two and three years. The direct ors who will be elected for three years win ee Col. William c. Greene. 1hos. F. Colo and John D. Ryan. The two year directors will probably be My-on N. Parker. Norman B. Ream and Cleveland K. Dodge. The one-year d. rectors win be James Hoatson. John Conxdun and w. A. Duncan, the last mentioned of Duluth. It is under. stood that much more than 51 per cent of the stocks of the companies h. yolved has already been pledged for the merger. --l