New-York tribune., 1910-01-28
COPPER GOSSIP RIFE
OYER 4M4LG4M4TED.
Opinion DiUided as to Where 1t
Stands an Merger.

In the absence of further details from
merger of the Anaconda and Cole Ryan
mining properties in the Butte district.
there was a conflict of opinion in copper
circles yesterday as to what would become
of the Amalgamated Copper Company if
the deal went through.
Some believed that the latter concern
which is primarily a holding company
would be eliminated and that there would
be only one corporation, the Anaconda
Copper Mining Company, under which
title all the properties on Butte Hill would
be combined. Others We're of the opinion
that the only change in the situation so
far as the Amagamated was concerned
would be that it would hold in its treasury
additional shares of the Anaconda, which
it would receive in exchange for such Of
its Butte mining properties as may be
taken over by the former concern.
Whatever the outcome as regards the
Amalgamated, it is the general belief in
copper trade circles that the proposed
merger is the logical solution of the Butte
situation, in that it will end all contro-
versies. conflicts and litigation and guar
The merger it is believed. will also result
in very sharp reduction in operating
costs.
1t is the intention, it is said to buy the
mines and not the stocks of the various
companies to be taken over, payment being
made either in the stock of the Anaconda
company or in cash In order TO provide
the necessary cash to take over the prop
critics, the owners of which do not care to
take Anaconda stock it is understood that
all of the proposed new stock that is not
exchanged will be underwritten
No details could be obtained yesterday
In regard to the terms upon which the
various properties are to be taken over, but
IL was said that not all of the proposed
slAeOo.ooo new stock OF the Anaconda COM
pany would be required TO carry out the
merger plan.
A rumor that the Amalgamated was also
TO increase its capital and that it would
issue some preferred stock was denied in
well informed quarters
According to the best information obtain
able the long talked of consolidation of the
Guggenheim-Amalga malgamated-Cole-Ryan cop
per properties is still matter of the dis
tant future, although the proposed bringing
together of the Butte Hill properties and
the recent merger of the Utah Copper. Bos-
ton Consolidated Copper and Nevada Con-
solidated Copper companies is regarded gen
orally in the trade as a first step in that
direction.
The plan is said 10 have been informally
passed upon by Attorney General Wicker
sham, and it is reported that he raised no
objections. It is understood, however that
the Morgan interests, which are conducting
the negotiations for the giant merger, are
in no hurry to bring it about at the present
time.
A report that Phelps. Dodge & Co. had
purchased the Arizona Copper Company
and intended to combine it with the Detroit
Copper Company and put them both into
the Amalgamated-Coe-R merger was
denied by a member of the company. lie
said that Phelps. Dodge & Co. did not own
any of the stock of the Arizona Copper
Company and was not interested in any
way in the proposed merger of the Anal
gamated and Cole-Ryan properties in the
Butte district.