Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1908-01-26
LAWSON SYNDICATE
GETS PROPERTY


yesterday secured control of the
properties and smelling plants of the
Consolidated Arizona Smelling Co.
of Humboldt, Ariz. Negotiations for
the purchase of the control of this
property have been protracted and
the entire day yesterday was consum-
ed in fighting out the details involved
in the transfer of the property before
an agreement was finally reached.
While no mention is made of the
name of Thomas w. Lawson in the
transfer, it is known absolutely that
he was one of the big participants of
the syndicate, his end of the trans
action being represented by A. G..
Burrage of Boston
The deal as agreed to by the
various principals calls for an
immediate payment of $4,000 by the
purchasers, subsequent payments to
be made from time to time until
100000 will have been paid over
for control In addition 100000
shares of the company's 100000
| shares of capital stock will be tied up
for over year and deposited with
Strong, Sturgis G Co., members of
the New York Stock Exchange.
The greatest difficulty in closing
the deal was experienced in getting
the large stock interests in the
present company to tie up their stock
for definite length of time Sigma
lures to this pooling agreement have
all been secured with the exception
of one of the company's promoters
who is now abroad This individual
cabled yesterday that he was willing
to enter the agreement, and authoriz-
ed his representatives to sign. His
brokers, it seems, had not expected
him to consent to the option, and be-
fore hearing from him had dis
posed of his holdings. This has
placed them in an awkward position
and the haggling yesterday is under
stood to have centered around this
account.
The syndicate has undertaken in
addition to its payments for the
stock control to place a 100000 ore
purchasing fund at the disposal of the
company, as lack of capital has here
tofore hindered it's operations.
The Consolidated Arizona Co. ha:
been in the hands of the receiver 70,
over month, and it is presumed thai
the first step of the new interests will
be toward compromising the claim.
outstanding against the company
and if those can be settled on al
equitable basis an immediate resump
ton will be forthcoming The plan
is believed to have been secured il
order to give the Nevada Utal
company an outlet for it's cope
sulphide ores.
The smelter of the Consolidate,
Arizona Smelling Co. is equipped
with two reverberatory furnaces of
daily capacity of 300 tons each an,
one blast furnace of 800 tons da,
capacity, making in all 900 tons pc
8 day. The company has likewise
lead stack which was never delivere,
at the property, but which could b
of service for the treatment of tn
9 Nevada Utah company's lead-silve
ores at Phoebe, New.
: The Consolidated company ais
owns a large and we'll developed cop
f per mine near Prescott whose pas
tonnage, together with custom ores
Q furnished the basis of it's smeltin
3 operations. The plant up to las
: December had been in operation
: about twelve month, producin
! 100000 pounds of copper in tina
I time. Its net profits were given a
. 100000 a month. The slump in COP
f per last year caught the compan
: heavily loaded with copper ore
which it had bought from tn
surrounding mines on basis of fror
25 to % cents per pound. When tn
time came to sell this product tn
market had declined to 16 cents, wit
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