The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-01
GUGGENHEIMS'
PLANS ARE BIG
Contemplate Control of Principal
Montana, Utah and Nevada
Copper Mines.
BINGHAM MERGER TERMS
AMALGAMATED AND REINZE
PROPERTIES IN DEAL.

II now dDDe2TS TO De WlInll the range
of probability that before the present
year is half over the most Stupendous
combination Of copper mining and sneIt-
ing interests the world ever saw VIII
have been woven into perfect web
by the Guggenheirn syndicate. Within
week It has been reported from the east
that wires were being laid that would
likely result in the combining OF the
Ancalgamated and Heinze interests at
Butte, and that the Guggenhe1ms would
be found in the front when the deal
was consummated- Market reports from
Boston and New York yesterday empha-
sized the previous intimatiOns Of what
was doing. Amalgamated stock was be-
ing swept up with both hands by New
York buyers. and the wires rashed the
news across the country that an import
ant deal between Analgamated and other
companies was on
Planning Tremendous Combine.
Earlier in the week there was unusually
heavy buying of Bingham Consolidated,
and the report was that most of the
stock was being taken for New York
account Boston Consolidated has also
been taken in at every opportunity, and
these facts, taken in connection with the
report that he Guggenheims had secured
a call on control Of the Nevada Consolt-
dated, and the fact that they already
control Utah Copper, leads to the con-
clusion that these masters Of finance
are planning to control the copper out
put of the world.
If the reported plans of the combina-
ton are successfully carried out there is
not the slightest doubt that the mines
OF the Arnalganated company, the Helnze
properties, the Utah Copper and Boston
Consolidated. Bingham Consolidated ana
Cactus, with most likely other mines,
viii soon be under the direct manage
ment of the powers at the head of which
is Daniel Guggenheim. Montana, Utah
and Nevada will be harnessed together,
and the copper chariot thus formed viii
be driven TO conquer the world. It will
ira al re- n nj
to do it, but that viii not matter, for
so strong has the combination become
and such implicit faith il its ability to
do things has the public shown, that 1t
is doubtful If more than a month would
be required to raise every penny re-
quired.
How Scheme is Being Worked.
In this connection it is interesting to
note the plan of operation that is be-
ing prosecuted to combine the Utah
Copper Boston Consolidated and Gao
Ius- It is interesting as illustrating IN
q measure what may be done to secure
and combine other properties. To han
Gle these mires new company is be-
ing formed and the report comes from
the east that a prospectus covering the
scheme in detail viii be issued shortly.
II Will be started off with a large cash
capital and the statement that its shares.
TO have q par value of 500 each, have
already been UNDERWATER. The prospec-
tuS il is said, Will show prospective earn
1ngs on the stock Of $50 a. share per an
mum, based on an output of $50, 900, 600
pounds of copper per annum, with 5he
metal figured at Is cents per pound.
The terms OF consolidation SO far
agreed upon are reported from Boston to
be three shares of Boston Consolidated
Tor one share in the new company. Utah
Copper is TO be in on a basis Of two
and one-haf shares for one, and the
cactus at ten for one of the new stock
The 100000 bonds Of the Utah Copper
company and the Sl,25O,0O0 bonds OF the
Boston Consolidated are to be treated as
stock. Papers, it is said. have been
signed by the Guggenhefms and the New
house interests, controlling & majority OF
shares in the above companies, the trade
being subject TO an examination OF the
properties by experts. It is thought pos
Eible, however, that these terms may be
modified when it comes TO a final show
down, TO meet the differences. if anv
exist at the time, between the parties at
interest.
II is also stated that some of the. larger
interests in both the Boston and Utah
copper companies have already turned
over their stock in trust preparatory to
the formation Of the new company.