New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-17
NETWORK DAILY TRIBUNE SUNDAY FEBRUARY II. 1907.
COPPER MERGER TERMS
Greene Camanea Company Issues
ErpIanatOru Statement.

The directors Of the Greene Cananea Copper
Company yesterday issued a statement to the
stockholders Of the Greene Consolidated Copper
Company and the Cananea Central Copper Com
pany setting forth in detail the terms on which
the stock of the Greene Cananea company is to
be issued in exchange for shares of the other
two companies OF the S600OOOOO authorized
capital stock of the Greene Cananea company
there viii be issued at the present time $780,
100000. divided into 100000 full paid shares.
par value 500 each For each OF the one million
shares outstanding of the stock of the Greene
Consolidated Copper Company, par value $40
EACH there will be issued in exchange one ana
one-half shares of the Greene Cananea Copper
Comnany stock par value 500, and for each of
the six hundred thousand full paid shares out
standing Of the Cananea Central Copper Com
pany par value so, there will be issued one
and two-thirds shares of Greene Cananea stock.
No Greene Cananea stock Will be issued at this
time except those shares in exchange as above.
If in fling certificates of stock for exchange
on the basis above outlined, the owner of any
Of such certificates shall be entitled to a frac
tional share Of Greene Cananea Copper COM
pany stock, he may, at his option, either puy
from the exchange agent with which ms STOCK
is filed an additional fraction to make full
share at the rate of $24 share, or he may sell
to the exchange agent such fractional shares at
the same rate. The exchange agents will re
ceive stock Of the Greene Consolidated ana
Cananea Central companies on or after feO-
ruary %, and the Greene Cananea Copper com.
pany will exchange its stock for such STOCK OF
the Greene Consolidated Copper Company ana
the Cananea Central Copper Company as shaii
be filed with the exchange agents prior to Aprh
l. which day the offer viii terminate
The exchange agents are the New 1ork trust
Company, of this city, and the City Trust Com
pay. of Boston The registrars of transfers are
the Knickerbocker Trust Company, Of New
York. and the State Street Trust Company, or
Boston. The officers of the Greene Cananea
Copper Company are: President. Thomas f.
Cole; first vice president William c. Greene;
second vice. president and treasurer, Charles A.
Duncan; third vice president, Charles D. Fraser;
fourth vice president. Joseph B. Cotton; secre-
A L. Agatn The full list Of directors was
printed in The Tribune Friday.
When the circular giving the terms for ex-
change of stock have been Enclosed to the share
holders OF the Greene Consolidated Copper Com
pany and Cananea Central Copper Company cir
culars signed, respectively by Colonel Greene
and Messrs Ryan and Cole, saying that
consequence of their personal examination Of the
mines of both companies and the audit Of the
a we'll known firm OF chartered accountants
they satisfied that the projected cOnsoda-
ton would be Of advantage to both corporations.
They estimate that after the completion Of the
proposed reduction works the mines will
easily be able to yield upward OF 100OO0OOO
pounds OF copper yearly for a long while to
come; express the belief that the Greene Cana
nea Copper Company should before long be
able to begin the payment Of dividends. and ad-
wise their shareholders to exchange their hold
ings for stock OF the Greene Cananea Cop
per Company.