The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1910-03-25
COPPER INA MERGER
ANACONDA MINING COMPANY IN
CREASES ITS STOCK.
Reasons Given For the Great Combina-
ton; Geological Formation of the
Country Has Something to do
With the Matter; Income of the
Big Concern That Has It's Plant
in Montana City.
Especial to The Free Press.J

Especial to The Free Press.J
| Anaconda Mont, March 23.-An-
other step toward the merger of all
the copper interests of the country
into gigantic monopoly was taken to-
day when the stockholders of the Ana
conda Copper Mining company met
here in special session and voted to
increase the capital stock from the
present authorized issue of 100000
shares of par value of $25 each to
100000 shares of the same par value
making $l5O,0OO,000 company of it.
The purpose of the increase in cap
ital, the directors said, was to acquire
the property of other companies in the
Butte district. No announcement was
made to indicate which companies it
was planned to take into the merger,
but it is known that the Butte Coal-
ton and North Butte companies are in
the list. Wall street heard that sew
eral of the Amalgamated subsidiary
companies also are to be taken over
| by the Anaconda. The Amalgamated
owns about SO per cent of the stock
| of the Anaconda, and also owns the
Boston & Montana, the Butte & Bos-
ton, the Washoe, the Trenton and
other companies.
Merger Has Its Significance.
Coming at time when the proper
ties controlled by the Guggenheims
have been mergerd, the Anaconda mer-
ger has especial significance to fnan-
cial men. 1t indicates that rapid steps
are being taken to form smaller combina-
tions of copper properties, SO that ul-
| timately when a much greater combina-
ton is attempted it will be simpler to
bring the various interests together.
In the larger merger will be included
| all the Amalgamated properties, the
Cole Ryan properties, the Guggenhiem
properties, and possibly others.
| The North Butte and the Butte Co.
alition are distinctly Cole-Ryan prop
critics, owned by Thomas f. Cole and
John ID. Ryan. The same interests
have large sway in the affairs of the
Amalgamated Copper company. By
the absorption of the Butte Coalition
and North Butte companies into the
Anaconda the relation of those COM
panies with the Amalgamated will be
much closer.
Reason For the Combination.
In a statement issued by the direc.
tors of Anaconda the reason for the
proposed combination is said to be the
geological formation of the country
in which the Anaconda and the other
mines are situated. 1t is pointed out
that difficult and complicated legal
questions have arisen as result of
the law of apex which prevails in
Montana. 1t is explained that law
was chiefly responsible for the pro-
tracted and costly Heinze- Amalgamat-
ed litigation which ended in the pur-
chase of the Heinze properties by
Ryan and his associates. Those prop.
critics now are owned by the Butte
Coalition company.
1t is also pointed out that all the
companies to be affected by the Ana
conda merger have properties which
are on the Butte hill and are contigu.
Gus. By combining all into one company
it will be unnecessary to determine the
justice of many conflicting claims, as
one company will own all the proper.
ties. Besides with a single company
working all the claims, there will be
economies in operation which cannot
be obtained in present conditions.
The Butte Coalition company has a
capital of Sl5O,OOO,OOO, the par value of
the shares being SIS each. 1t has
been producing 100000 pounds of cop
Iper a year. Cole is president of it
and Ryan is vice president. The North
Butte company has capital of $6,O0O,-
600, also in SIS shares, and the same
interests own it. Both companies have
been prosperous and their stock is
selling at prices far above par.
| The income account shows that the
Amalgamated company during The last
year has been earring it's per cent.
dividend by very slender margin and
that there are no concealed assets.
The fact is disclosed by the state
ment that the company has advanced
81 100000, to the Washoe Smelter,
whereas it had been popularity believed
that this advance had only been $1,000
600. The report shows that the Anal
gamatcd owns 100000 of the 100000
shares of the capital stock of Ana
conda. 1t OWNS practically all of the
capital of the Boston and Montana,
the Butte and Boston, and the Washoc
Shelter and over so per cent. of the
Parrot mine. 1t has small interest
i'm the Greene Cananea and the Butte
Coalition. The Anaconda company
during the six months ended June 30,
1909 sold copper, silver and gold to
the amount of $6060,O00 and had
stocks on hand of the value of $5,93l,-
$50.