The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-14
Peace Between Heinze and Anal
gamated Means Control
! for System. =
MILLIONS IN DEAL
MADE BY J. D. RYAN
Long Series of Scandals and I'M
derground combats Marked
Warfare.

warfare.
Special to The Journal
Butte, Mont, Feb. 1.-THE copper
interests in Butte have united on a.
peace. basis. F. Augustus Heinze has
transferred practically all of his. hold
ings in this. city to Arthur e. Carson,
acting for Thomas F. Cole, Duluth
copper and iron magnate, who repre-
sents the North-Butte, AmaIgamated
and Guggenheim interests. The United
Copper company is said to have re-
600, one-half in cash and the remainder
in preferred securities. The company
disposes of all its lawsuits, itigHted
ground and shelters, but retains the
Lexington group and some undeveloped
claims and has favorable contract for
the treatment Of its ores at the Washoe
smelter.
Mr.. Cole and his associates furnished
the money for the purchase of the prop
Ierty and will organize new company
on cash basis with at least $4,000, 900
treasury and agreements with the
Amalgamated company under which the
litigated territory will be Immediately
developed. The amount of capital for
/, the new corporation will depend upon
i the final determination of operating re-
llations with. the Amalgamated CON-
pany. In some cases vertical lines OF !.
l.ownership may be drawn; in others,
liioint ownership may be continued, and
in still others purchases from the Anal
/ gamated company may be made.
/ A New York report states that John
ID. Ryan, managing director of the
/ Amalgamated Copper company, who en-.
gineered the deal, is to be president OF
+ % irro or danv the ranOrt as did II.
1 Augustus Heinze.
+ New Era for Butte.
When the final confirmation of the
transfer of the Heinze properties to
the Cole syndicate was flashed over the
, prosperity for. Butte was assured. The
], Cancellation means that within Tea;
; sonable period of time at least 2,O0u
men will be added to Butte's already
! big payroll, and the copper output
swelled to 4oo,000,ooo pounds a year,
or more than 40 per cent OF the Amer Al i'h..
lean copper production
Credit for the business settlement
B and amicable adjustment OF most
Eeonnlicated problem belongs almost en-.
q tireIY to John d. Ryan. For several
{ weeks Mr.. Ryan has been in the east
arranging the eesP that s oIsgna ave ae e.
eording to intimate associates Mr.
/ RYAN andsMr. Cole were scho0imates al
Houghton, Mich.
In the conciliation effected YESTERDAY,
i F. Augustus Heinze and the United
Henry II. Rogers and the Amalgamated
sacrifice nothing, and the latter com u
many. it is said, gains settlement OF
fbe conner controversies without a cent
If cost except in the possible conces-
sion of some disputed property TO sthe
new corporation. st
$ Huge Copper Trust.
: This is said to be the first step to-
: ward carving out acopper consolidation
: plan, the most gigantic the world mas
. aver known, that will cover much more
! than the disputed Butte properties. II
: is reported that the BONANZA circle
+. oroup at Bisbee, Arizona and Bingham,
D Utah, will also be included IN the deal;
a BY the transfer, the Amalgamated
n Copper company undoubtedly secures
n control of the copper trade and the pro
! duction of the red metal. On the other
r hand. the United Copper company gets
3 large payment in cash and still re,
g mains an important factor in trade, and
8 Heinze q men are not barred from be-
e coming stockholders in the new concern.
e LITIGATION of nine years standing, In
k volying the bitterest legal warfare over
r ownership Of copper mines in the his
e tory of mining, is brought to close,
). and twenty-five ore bodies are released
Z for operation.
; Amalgamated Copper company was car
ried from the courts to below ground,
), and deep in the bowels of the earth the
y forces Of Amalgamated and Heinze min
: ers would clash over different ore
:; bodies, fighting each other with pow.
. dered lime and hot water, two men I'm
? ally being killed by an explosion of dy-
i Mantle dropped upon the contend1ng
:. gang.
: There were greater scandals in con-
q nection with several trials of the Min
ME Healy case than in any other It'll.
cation in the history OF the northwest,
q The federal supreme court found it nee
} essary to order new trial in the case
e because Of the conduct OF. Judge E. w.
y Harvey, the original trial judge. Judge
= Harney's name was coupled with that
y of Ada Bracket. stenographer, said to
have been in Heinze s employ.
On another occasion it became neces.
sary to summon a special session of the
Legislature, which enacted what is
& Amalgamated having closed down its
D mines rather than try the cases theI
4 pending before an alleged prejudiced
Heinze Judge. This law permitted the
disqualification of judges for bias
+ Twenty-Five thousand men were thrown
t. out of employment as result.
k, The Mines Involved.
Ia
,f The Heinze mines transferred to Cole
err and his associates are the Rarus, Cora
a. | Rock Island, Minnie Healy, Belmont
le and Johnstown, all of the Hypoea com
er panies and all the property of the Mon
ar tana Ore Purchasing company Heinz'
retains his interests in the Lexington
and LaFrance properties and the big
III concentration at Basin. The Heinz
:. properties employ about 1000 men
q ~ More. than 100 lawsuits involving
~ - claims for more than $4,000, 600 ar,
~ settled by the deal.
he
&c TAFT TO- MEET YALE MEN.
st. Louis. Feb. 1.-THE second annual meet
a.. vi. oI,a<