Daily Arizona silver belt., 1909-10-27
Deal With Phelps Dodge Is Thought to Forerun
 Combinations
LOW FREIGHT RATE
 IS ALSO SECURED
Announcement Is Explana- tion of Late Strength
 of It's Stock

NEW YORK. october 26.-An official announcement of the deal between the Greene Cananea Copper company and Phelps. Dodge & Co. has been made from the office of Phelps, Dodge Co. Under the terms of the agreement that has been concluded, the Greene -Cananea oets control of the Indiana Sonora Copper company on basis of exchange of two and one. half shares of the stock of that company to one share of Greene Cauanea. The announcement covering the details of tRe deal is as follows:
 HIt is officially stated that the nego- tiations which have been under way for some time past between Phelps, Dodge & Co. and the Greene-Cananea Copper company, whereby the interests of Phelps, Dodge & Co. in the Indiana Sonora Copper mine in Mexico passes to the Greene Cananea company, have been completed, and that the stock or the Indiana. Sonora will be exchanged on the basis of two and one-half shares for one share of Greene-Cananea stock aThe Indiana Sonora has a large ton mage of ore ready for treatment The company's property is located at La Cananea, Sonora, Mexico, and adjoins the property of the Greene Sananea company. It consists of 4O5 acres carrying large but irregular ore oodies. | The development work amounts to | about 10000 feet. The equipment of the mine consists of seven hoists, com pressor plant, buildings, and narrow quape railroad connecting the property ! with the Greene eompany's railroad | It is announced that there will be no new issue of Greene-Cananea stock on account of the merger. v
 At the time the above announcement | was made 1t was also announced that the Greene -Cananea company had en tered into an agreement with the South ern Pacific Railway company for tho transportation of its ores, and that un der this agreement the company VII
 effect of saving $500,000 year.
 This announcement has been expected | for some time. and marks the beginning I of 4 new era for the Greene-Cananea If is understood that within q shor I time negotiations for the acquisition o' other properties of Phelps, Dodge q Co. will be entered into by the Greene | Cananea, and, while it is denied tha if will in the end get the Detroit mine it is believed in many quarters that II
 the end the acquisition will be accom- plished.
 On account of the reports of the mer
 ger. the stock of the Greene-Cananei
 has been strong on the New York curl
 market for the last two or three weeks
 during which time it has made an ad
 vance of about $2 share. Toward tn
 end of last week it was learned that
 while the buying has been conducted
 by a New York and Boston Stock Ex change house, presumably for Bostol
 account, the real buying of the stoel is supposed to come from the Morton
 Trust company of New York, of whicI Levi P. Morton, former vce-presiden of the United States, is president, an' Thomas Fortune Ryan, the tobacco an'
 traction magnate, is the dominating influence.
 Now that the news regarding Greene Cananea is officially announced, it l thought possible that profit-taking sale may cause temporary halt in the up
 ward course of the stock, and tha
 these sales may even cause 1t to reeed
 somewhat. But the arrangemnt mad between the two companies to the mer ger will in the end be profitable to tn
 Greene Cananea, and the arrangemen
 it has made with the Southern Paclf , will be of especial advantage to 1t.