Daily Arizona silver belt., 1908-09-02
MINING INTERESTS
 ARE CONSOLIDATED
coMANCHE AND COPPER GULF MINING COMPANIES MERGED INTO SINGLE CORPORATION THE SAVANNA COPPER co.

panies has been perfected. The merger save the Comanche from bankruptcy and renews the life of its valuable prop erty.
 > The consolidation was concluded yes terday. A letter, explaining details, is now being prepared and will be mailed every stockholder in both companies in few days.
 The deal was perfected by commit tee of five consisting of Ludwig Wech- selberg, C. w. Moody, G. A. Messer, C.. G. Forster, and A. c. Elser. The legal end has been conducted by the law firm of Quarles, Spence and Quarles. The merger means that a new cor poration will be organized under the laws of the territory of Arizona. It will be known as the Savanna Copper company, with an authorized capital stock of $2,000,000. This stock will be divided into 200,000 shares, par value of $lO each Of this capital stock, one half, or 100000 shares, full paid, is is- sued for the purpose of acquiring the stock of the present companies, the Comanehe and Copper Gulf. The other 100000 shares will be treasury stock to be used for furnishing working cap ital. FifAy thousand shares will be held open to immediate subscription on n call of $2 per share, the balance of $S payable at such times as it may be needed. This will be determined by the board of direc tors of the new Savanna | Copper company.
 To provide for the immediate pay ment of the debts of the company, Con- anehe stockholders are asked to con. tribute 10 cents per share held by them. On the 100000 full paid shares of the Savanna Copper company, one-half, or | 5000 shares, will be allotted to Com anche stockholders. Only such stock holders will share in this distribution as contribute their 10 cents per share of present holdings C. w. Moody will act as trustee in making the transfer of stock.
 The money collected by the commit tee, necessary to pay the debts, will be loaned the Comanehe company by the trustees. It will be payable in six months and will be secured by a mort gage on the property. The note and mortgage will then be transferred to the Savanna Copper company. Duluth mining men, stockholders in the Copper Cuff Mining company. have agreed to take, on the basis outlined, all of the 50,000 shares not taken by Comanche stockholders. By this means a sum of S500,000 is assured for working capital at once.
 The combined properties of the Com. anehe and Copper Gulf Mining com. panies will form one of the largest min ing properties in the southwest. If the proposed plan is carried out all the property in the consolidation will be held by deed or original location, free from debt, save that the Comanche com. pany will have an obligation of $30,000 due in August, 1910, and the Copper Gulf an obligation of the same amount due in November, 1912.
 The Savanna Copper company will be organized for 200,000 shares of $l0 per share. Of this 5O,0OO, full paid, non as. sessable shares will go to the Comanche stockholders, 50,000 to the Copper Gulf stockholders, 50,000 shares will be on sale at S2 call, subject to further call until the par value has been paid, and 50,00O sh ares optioned for two years to the Duluth men. All rights of the Comanche stockholders to join the plan and obtain full paid up stock expire September 30
 Before consenting to consolidation the committee in charge caused report on the value of the Comanche properties to be made by Engineer Lewis A. Dunham. The Copper Gulf Mining company owns tract of about 1900 acres of mineral lands adjoining the Comanche holding in the Burro Mountain mining district. Considerable bodies of copper ore have been developed on it.
 MILWAUKEE, Wis, August 29.- The final papers for the merger of the Copper Gulf and Comanche mining com panies in the Burro mountain district of New Mexico have been signed and all details have been satisfactorily ar ranged. H. B. ROWLAND.
 The combined properties situated in the Burro mountain mining district, New Mexico, include about 4,000 acres of mineral ground, with several miles of development work, 2,000,0O0 tons of ore already developed, mill, shelter, railroad, and other valuable property. It is the intention to proceed on a large scale without delay. The company will be producing copper in considerable vol