The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-02-15
COPPER PEACE WILL
BENEFIT THIS STATE
Local Propositions Will Attract
New Company on Account
of Importance.
UTAH MINES MUST
BE RECk0NED WITH
Additional and Interesting News
Regarding Peaceful End
ing of Long War.

lHS vi DbHS w dl.
Locnl circles were very much inter-
ested In all news from the seat of the
great copper developments OF Butte, In
which r. Augustus Hcinze sold out his
interests in Silver Bow county Mont,
thus ending the seven years warfare
carried on between him and II. II Rog-
crs The efforts of Thomas f. Cole and
John D. Ryan. the pcacemakere, while
not exactly unexpected in the light of
developments prior to the actual turning
over OF the control of the Hcinze proper
tics, are highly commended the result OF
their success being almost inconceivable
in its influence and Importance.
Eyes Turned Towards Utah.
The end Of the great war in Montana
viii have beneficial erect upon the
properties OF Utah, whose importance
IN the copper world is mn element To be
leckoned with from now on. Within
udiculousy short time, when compared
with the advancement made, Utah cop
per propositions have forged TO the very
'front.' ranks of prominence and power and
State viii be completely covered by the
agents OF the Contcnding forces In the
copper world, of which Alfred Franks S
visit is considered the initial effort, which
aIgurs well for all copper interests In
the State.
Terms of Cole Trusteeship.
II is understood that the terms OF the
Cole truSteoShp provide that he shall
hold these properties turned over TO MIN
b. Heinze for new company to be
others shall be acquired by the Anal
gamatcd people. This company, II Is be-
hcycd, will be the nucleus of one of the
sectional companies which IL is under
stood Will be employed TO gather to-
Scther the various important copper and
lead producing companies and smelling
concerns Of the country, preparatory TO
placing all these interests under one cap
italizatIon, which may reach billion
dollars.
Future Output Tremendous.
As TO terms, the United Copper com
pany receives S5,O10,o0O, part cash and
part stock OF the new company. The pro-
portion of cash Is placed at sl6OOO.WO 10
$200CO.0o0 Under the new arrangement
the united copper output. which has been
forty million pounds OF refined copper a
year. Will be reduced to twelve million
or fifteen million pounds. The new COM
pany. starting with a production OF 2o,-
OOOOOO 10 100000 tons. Will increase that
TO some 100000 tons by opening up
properties that have been closed by In
junction The terms on which Amalgn-
mated will make cession OF claims TO the
disputed property transferred are not
made public, but in some instances, II Is
said, Amalgamated will hold Joint owner
snip VIII the new company
John D. Ryan Talks,
John d. Ryan, who conceived the
scheme. In an Interview in New York
etated: BY the acquisition of the va
rious properties from the Helnzes there
is nothing left TO make trouble OF start
litigation The purchase has cleared the
Montana copper producers Will now be
left In a position TO produce copper
cheaper than ever before and more OF it.
Friendly to Amolgamated.
The name OF the new company which
Will acquire the various Hcinze proper
ties has not been selected nor have the
Incorporation papers been nled. You can
state. however, that the majority inter
ests Will he friendly to the Amalgamated
Copper company and viii be In position
to arrange all matters that might ever
cause a dispute conflict between them
selves and the latter's subsidiary con-
Germs
Means End of Law Suits.
"At the present time the pending liti-
CATION covers more than 100 suits. In
Volving $4,000 coo in claims. In the fight
between the rival interests every possible
claim was bought, so that there Is now
nothing left in the disputed area on which |
litigation might be started afresh The |
purchase of these properties, therefore, |
includes the settlement of the suits"
Heinze Is Satisfied.
Mr. Helngc. when seen last night, cx-
pressed satisfaction over the termination |
of the war and said the details which |
were made public during the day In Wall |
street were correct and that the s25 00),JDO |
which tho United Copper company is re- !
ported to have received was for the land |
in dispute and for that land only.
Importance Far Reaching.
Mr.. Heinze said the amount of capital |
for the corporation would depend |
upon the final determination OF the oper- |
atine relations between the Amalgamated |
companies. Everything will be on cash |
entirely with Thomas F. Cole and Mr. |
RYAN OF the Anaconda Mr. Heinze also !
said that plans would be laid out on a |
very large scale for copper operations |
which would cover much moro than the |
disputed Butte territory and that Butte's |
annual production would be expanded to |
moro than 400cO0.OG0 pounds OF moro |
than 10 per cent Of the American copper |
production.
Rogers Naturally Pleased.
H. II. Rogers. the old foe OF Heinze. in
regard to the establishment of peace, |
said Il understand a settlement has |
been reached and that the deal Is closed |
Naturally, j am pleased and gratIhed |
about IL, and believe the transaction Will |
be beneficial TO the copper industry OF |
Montana and to the copper trade OF the |
world
Ore and Bullion.
The and bullion receipts for Wednesday
given by McCornick's bnnk. were as follows |
(1re hul1I