Bisbee daily review., 1909-10-12
COLE RYAN RYAN
INTERESTS PLAN
CONSOLIDATION
These People Are Buying
Heavily Into Cumberland
Ely-Big Copper Merger
Is Freely Hinted At

BOSTON, Oct. 2l.--A leading cop
per. man. d rector in numerous min
ing companies, who keeps close '';ab"
on affairs, says:
The Cole-Ryan interests appear 70
be gradually working out plans for ex-
pansioa in the copper field The
speculative public is only too willing
TO see something along the line Of a
cope company consolidation, as this
would undoubtedly result in great
activity in copper stocks4
There seems to be a strong impress
sion in many quarters that a copper
company consolidation is rounding up
and I have followed out some intina-
lions VII Oh have led me to believe
that there may be something in it.
j have been told that Cole-Ryan poo
pie are buying heavily into Cumber
land-Ely. Such acquisition, now that
they already control the Giroux and 3
number of other adjoining properties.
would give the Cole-Ryan people a
very large foothold in the Ely camp.
Then again, get from Salt Lake
City that the Utah Consolidated inter
ests have been flirting with the Bos-
ton Consolidated, and that it would
not be surprising if both the Boston
Consolidated and the Ohio Copper
properties went to the Amalgamated
or Cole-Ryan people.
With the Cole-Ryan interests close
Iy affiliated with Phelps. Dodge &
Co, and the above plans carried
through, the Cole-Ryan-Amalgamated
interests might be in position to
meet the Guggenheims in the matter
OF production and low copper costs
outside of Butte. and pave the way 70
a copper consolidation along the line
of the United States Steel Corpora
tion, which is believed TO have long
been the ambition of the Cole-Ryan
interests in Copper"
The above is important if true.
The Coie-Ryan control of Cumberland
Ely would be interesting. for that
company Owns a one-hslf interest in
the Nevada Northern railroad and a
three-eights interest in the big Step
toe smeIter near Ely, which cost near
ly SS,OO0,OOO 10 build With the Cole
Ryan people in control of both GirouS
and CumberIand-Ely, the Guggen,
helms would have a worthy competito
in the Ely camp. The question of .
smelling plant would then not have Z
receive Cole-Ryan. attention, as .
three-eights ownership in Steptoe
plant carries with it three-eights OF
capacity Of that plant and authority tc
increase that capacity to the same *
tent as Nevada Consolidated thereby
giving Cumberland-Eiy a one-half IN
terest.
The Guggeuheims have always le
it be understood that they controlled
81 per cent of the stock of the Cum
bUerland-Ely Co., but other interests
state that such is not the fact, tina
when the Nevada Consolidated solt
2o0,o0e shares of CumberIand-ISl'
stock held in its treasury a year agg
Guggenheim control of the propert,
passed. There are outstanding 300
e9o shares of the stock.
Should the Utah Consolidated 50
cure control of Boston Consolidatei
and Ohio Copper, the Cole-Ryaa intei
ests would then have two mills nea
Bingham of present capacity O
500e tons capable of charging 10 10
600 tons per day. and two ppropertie;
which would be capable OF supplyin
such a tonnage and which might equa
in time the tonnage obtained from
the Utah Copper Co
A controlling interest in the allow
three companies could probably be oil
tanned for about $4,000. 900 and viz
sach an investment the Cole-Ryar