The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-12-12
Mines and Mining Stocks
MERGER
GOOD AS CLOSED
Market Action of Utah and
Boston Stocks So lmpreSSes
Talent.

Market action of Utah Copper and
Boston Consolidated securities yester-
day, when the former went to S63 ana
the latter as high as S2S, indicates that
arrangements for the proposed consoh-
dalton of the two companies must be
virtually complete. No definite intOrma-
ton upon the subject was received dur
ing the day, but local talent inquired
that material advancement or pracUlcaI
closing Of the merger deal was the only
thing that could be held to account Tor
the sudden advance of several points in
the price OF the stock of each company.
As related in these columns yester-
day, General Manager D. c. lacking
and General Superintendent r. c. Gem
nell are both in New York comforting
with directors Of the Utah Copper COM
pany, presumably upon consolidation
matters, and it is believed that their
presence at eastern headquarters has
enabled the negOtiators to come TO
definite understanding concerning de-
tails which were in allegiance. That the
ratio Of exchange should be two and
one-haIf shares of Boston Consolidated
stock for one share of Utah Copper
stock, it is understood, had some time
since been agreed upon, although the
market prices OF the stocks have not
| yet been brought to that ratio
| Consolidation of Utah Copper and
/ Boston Consolidated is fulhllment of d
! logical destiny, from the mining stand
point The porphyry sections OF tnen
/ estates covering, as they do, one noun
/ tain, make for economical mining 10y
/ one concern. with the greatest economy
rendered impossible when the ground IS
worked by more than one company. The
combined estates have in sight about
! 12O, O0O 900 tons of ore averaging close &c
! . per cent copper. and the merger would
| have facilities for producing better tnaI
SO,OOO,0OO pounds of copper year at
cost around cents pound, making Il
one Of the greatest producers at recOrI
low cost of production.
Cuggenheims Don't Appear.
Confirmation of the report that the
Guggenheims are attempting 20 Include
Nevada Consolidated and Ohio Cope
in the consolidation with Utah Cope
and Boston Consolidated is yet wanting
OF the four companies, so far as yet ap
pears, the Guggenheims control OnE
Nevada Consolidated, although the!
have large holdings in Utah Copper
and it is generally supposed that the,
own some Boston and Ohio stock. 1t i
possible, Of course, that without own
ing control of all the companies con
cerned they might be able to enginee
the deal for such a merger-a merge
which would UnQuesiOnably, be in po
sition to exact favorable terms for 1t
entrance into the proposed big cope
| consolidation.
With the consolidating of Utah Cop
Der and Boston Consolidated, it is SAID
Samuel NewhOuse viii have virtual
retired from active mining in Utah.
is understood that he is selling his Bos
ton Consolidated holdings, possibly
the Guggenheims, for S25 share, casf
! which will give him at least S2,50O,J0'
a large portion of which viii doubues
be used to carry out his plans for res
estate acquisition and improvement
j Salt Lake City. While he is larg
holder in the South Utah Mines & SINE
ter conf auy, which is taking over New
house Mines & Smelters, at his own It
quest he was left out of the eXecutiY
cOunseIs Of the new concern.