Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-01-03
BOSTON CON. TO
Be IN BIG MERGER.
New Corporation Being Formed
To Take Over Several Bing-
ham Mines.
BOSTON IN AT $40 A SHARE.
bingham Con. should Pay Dividends
This leaI--Stock Too Low, Says
An Engineer.

The Commercial Of Boston which is a
recognized authority on copper stocks,
has something Of interest to say about
q few Of the Binghams in It's issue OF
last Saturday. 1t says,
Boston consolilated's recent buying
has been preliminary to the organiza'
ton OF big company to operate In the
Bingham district, This is now known
10 be a fact, though the details are
not yet at hand. 1t 10 understood that
the Utah Copper and Newhouse com,
panles. with another company yet To be
named viii 20 into the consolidation,
Whether the other will be the Bingham
Consolidated, is not positively known,
but It il considered probable that the
latter company. and also the ohio, on
which Mr.. Newhouse Is said to hold an
option. will be- included
II Is rumored that Boston Consolldat-
ed viii go into the new company at $40
per share. Though American Sfnelt-
ing interests viii figure largely In the
deal. It is believed that the new COM
pany Will be an independent one. II Is
uosslple, however, that by turning In its
copper smelter now under construction
ut Garfield, It's Utah Copper stock ana
whatever interest II holds in Boston
Consolidated. II may secure and retain
n controlling interest In the oombina-
ton
Utah Consolidated Is earning more
dollars per share than Anaconda, even
on the present price OF copper on q
13-cent or 16-cent copper market u
would be earning nearly twice as much.
Its future prospects are every whit as
bright as those of Anaconda, Amalga-
mated, or almost any other company
that can be named II Is paying at the
rate OF 81 per share and selling III 300,
while Anaconda IL paying at the rate OF
$3.50 per share and selling at $50. 1t
stands to reason that Utah Is an ex-
cellent purchase with any KIND or
money, bur more especially with money
secured through liquidation OF holdings
or Anaconda mt this level OF prices.
Bingham Consolidated Is getting It's
plant I'm shape TO make further con-
siderable increase In it's output A
reyerberatory furnace has been Install
cd and Is now doing service. treating
fue dust and fine ores -Four OF It's
blast furnaces are In commission. The
greater part of thls capacity is devoted
to custom work, how, yer, and this in n
large measure has prevented the Bling
ham from getting It's share OF the pros
perity showered upon copper producers
in general by the big advance In metal
prices. Its mines have been opened
sufficiently to enable 1t 10 supply ores
Of It's own to the full capacity ofsits
smelter and, had II not been for It's
custom smelling contracts. Bingham
profits would have been very much
larger this year than they have been.
II is understood that Bingham's net
earnings have been fiuctuating all the
way from $4,000 to $4,000 per month.
the amount depending upon the guam
tity OF its ores Il was able to snelt
The contracts with the Utah Copper
company and the Newhouse mines ex-
plre In the spring. however. and the
one with Boston Consolidated. calling
for specified number OF tons of ore.
Will probably terminate IN July. BY
the time these three large contracts
are out Of the way the Bingham smelter