The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-11-24
IN
ON THE COMBINE

BOSTON, Nov. 21.-The strength
and activity in Utah Copper in Sat
urday's market doubtless had some
connection with the copper consol-
idation now in process of formation.
At some of the conferences we under
slant that there was an objection to
taking in the so-called low-grade
porphyry mines, because it is the in
tention of John D. Ryan, who is the
prime mover in the consolidation, to
include no mines except those which
have proved their value. The advance
in Utah Copper, therefore, would in
dictate that it has finally been de-
cided to take this mine into the com
bination. 1t is also evident that Bos-
ton Consolidated will be taken over.
By taking in both of these mines the
porphyry group will have been clean
ed up.
From present developments it
would appear that of the four plans
of consolidation under consideration,
which we outlined last week, the or
ganization of a new holding company
to take over the several groups of
copper properties, has been selected.
At the start this new company will
include the Amalgamated, Cole
Ryan, Guggenheim, and possibly the
Phelps-Dodge properties, and from
time t. time other single mines not
at the moment classed in any special
group, will be taken over.
Although the Calumet & Hecla
group will not be included in the new
combination, we understand that
their representatives have been pres
ent at the conferences, SO it may be
decided that these interests, while
not associated with the new com
pany, will work in harmony with 1t.
The new company will be a more
complete organization that the Unit
ed States Steel Corporation, for
whereas the latter company controls
less tnan SO per cent of the iron and
steel production of the country, h
copper combine will have under it's
charge at least 80 per cent of the
copper production of the world.
The foreign situation will be taken
care of by the Rothschilds n by,
including the Morgan, Frick-Haggin
interests, the Cerro de Pasco mines in
Peru will also be in the combine.
The ''New York American" says.
Final conferences will be held in
wall street this week looking to
actual organization of the Copper
| Corporation, with capital of about
1000, 1000, 900, to control all cleo
trolytic copper produced and refined
in America and all the copper sold in
the world.
-. P. Morgan will have general
charge of the financing of this huge
company, which will nearly equal the
Steel Trust in volume of stock issued.
The National Copper City Bank and
the First National will attend to de-
tails of the security issues in Amer
lea. Several European institutions
will be interested, for the fotation
is to be worldwide.
"This copper combination will not
include the Calumet & Hecla, but
that company makes a grade OF metal
that has a market of its W and
does not interfere with the other
| grades.
at is proposed to form a corpora
tion to issue it's stock in exchange for
the outstanding shares of every pro-
ducing mine of Importance, for every
smelling and refining plant OF high
standing and for the selling agencies.
The Rio Tintos and the R~Othsch1lds
will probably come in through their
selling agencies. 1t is proposed to
limit production about III per cent
and advance the price of the metal to
about Is cents"