The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1910-01-27
FIRST STEPS TAKEN TOWARD
GIANT COMBINE OF COP.
PER PRODUCERS.
The Anaconda Company Announces
That Stockholders viii Gather in
March to Pass Uoon Proposal to In.
crease Caoitai Stock to $15o.oO0. 900
to Acquire Other Properties.

New York. Jan. .6-Preliminary
steps were taken today To effect the
long-looked-for merger of tha copper
producers of the country into one gI-
santic corporation. In Wall street an
other si.00o.0oo.oo0 company was fire.
auently mentioned. but tn, more con-
servative believed final capitalization
would be closer To $500. 600. 900.
The Anaconda Copper Mining com
pany officially announced late this
afternoon that the board of directors
yesterday decided To call a special
meeting Of stockholders in Anaconda
Mont. on March %. to pass on pro-
posal To increase the capital stock
from sa0,0ooo0O to $50. O00 600. for the
purpose of acquiring the property Of
other companies located in the Butte
district"
The Amalsamated Copper company
owns % per cent OF the Anaconda
stock.
Following the merger of the Butte
properties. which include the Amalga-
mated Copper company and its vari-
Gus holdinss-the Anaconda Copper
Mining company. Boston 4 Montana
Butte 4 Boston, washoe, Trenton and
other subsidiaries--and the North
Butte and Butte Coalition. il Is ex-
pected that the new Anaconda with its
increased capital OF sl500O0 600. win
merge with the Guggenheim. HaggIn
and other copper interests. The cor
poration thus formed win control not
only the copper output of the United
States. but will influence the copper
market of the world.
Ryan At Head.
The Amalgamated owns all of the
stock of the Boston 4 Montana and
Butte g. Boston. The Butte Coalition
and North Butte properties are re-
garded as Cole Ryan properties.
I'm Wall street II is commonly un-
derstood john u. Ryan will head the
greater copper amalganatlon. This
amalgamation will include. il is said.
the Guggenheim. Haggin and Cole
Ryan properties and the Amalgamated
Copper interests. J.. +. Morgan & Co.
will promote the consolidation.
Concerning the plan to merge the
various copper properties in the Butte
district. the Amalgamated Copper
company In a statement says:
The reasons for the proposed in
crease in stock involve consideration
of difficult and complicated legal
questions. as Well as those relating to
the economical and efficient manage
ment of business operations of the
different companies.
Law Of Apex.
What Is known as the law of apex.
or the right to follow a vein on its
dip extra laterally claims the surface
lines Of mining claims prevails in
Montana and has given rise to many
perplexing problems in connection
with the operations in the Butte dis
trict.
Mining claims of the Anaconda
Mining company and of the other
companies affected by this plan are ali
located within comparatively cir
cumscribed area and are contiguous
and 80 closely and lnextricably in
terlaced as To make almost impossi-
bic the segregation OF ownership of
underground ore bodies.
Some of the operating features
considered in favoring the proposed
transaction are economies which vii!
result from working all the mines in
accordance with IA general system OF