Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-01-27
MINING. BUSINESS AND STOCKS.
PRELIMINARY STEPS
FOR ANOTHER MERGER
Butte Properties Make Preparations
For Consolidation OF All the Larger
Producers of the Camp.

New York Jan. 2I-Preliminary steps
were taken today TO effect the long
looked-for merger of the principal cop
per producers of the country into one
gigantic corporation.
In Wall street another billion-doliar
company was frequently mentioned, but
tho more conservative believed hnai
capitalization would be closer to $780,
100000.
The Anaconda Copper Mining COM
any officially announced late this att
srnoon that the board of directors yes
terday decided 10 call special meet
ing of stockholders in Anaconda. Mont,
on March 2S. TO pass OH a proposal TO
increase the capital stock from S50.000.-
900 to $50 900 900 for "thc purpose OF
acquiring the property of other comPa-
niles located in the Butte district"
The Amaleamated Copper company
owns So per cent of the Anaconda stock.
Following the merger of the Butte
properties. which include the Amalga-
mated Copper company and its various
holdings-the Anaconda Copper COM
pany, Boston G Montana, Butte &
Boston, Washoe, Trenton and other
subsidiares-and the North Butte and
Butte Coalition, II is expected that
the new Anaconda. with Its increased
capital of S150. 900. 900. VIII merge with
the Guggenhcim. Haggin and other cop
per interests. The corporation thus
formed will control not orly the cop
per output of the United States. but
will influence the copper market of the
world
With the merger OF the Butte proper
ties and the recent merger OF the Gug-
genhcim copper interests IL is now cN-
pected in financial circles that the
Butte and Guggenhcim interests will
consolidate and tho result will be one
gigantic corporation controlling prnc-
tically the entire copper output of the
United States. and influencing the
worlds market
INCLUDES MANY.
The merger OF the Butte properties
will include the Amalgamatcd Copper
company, Anaconda Copper company.
Boston & Montana. Butte & Boston.
WaShoe-Trenton and other subsidiaries
OF the Ama1gamated copper companies;
the North Butte and the Butte Coali-
tion.
The Amalgamatcd formerly owned
about IS per cent of the Anaconda
stock. but is believed to have greatly |
increased its holdings since the merger
plan has been under way.
The Amalgamated owns all of the |
stock of the Boston and Montana and |
Butte and London. Tho Butte Coalition
and North Butte properties are re-
garded as Cole-Ryan properties.
In Wall street 1t is commonly un-
derstood John D. Ryan will head the |
great copper amalgamation. This |
amalgamation will include. it Is said,
the Guggenhcim. Haggin and Cole !
Ryan properties and the Amalgamatcd
Copper interests. ]. P. Morgan g. Co. |
will promote the consolidation.
1t was announced officially that a |
special meeting OF the stockholders OF |
the Anaconda Mining company HAD |
been called for March 23 to vote upon !
a proposition to increase the capital |
stock of the company from 100000 TO
100000 shares of S25 par value
STATEMENT IS ISSUED.
Concerning the plan to merge the
various copper properties in the Butte
district the Amalgamated Copper COM
pany in a statement says:
The reasons for the proposed In
crease In stock involve consideration CT
difficult and complicated legal ques-
tons as well as those relating to the |
economical and efficient management |
OF business operations Of the different
companies.
OF the right to follow a vein on its dip
extra-laterally beyond the surface lines
of mining claims prevails In Montana |
and has given rise to many perpleXing |
problems in connection with the opera
tions In the Butte district
Mining claims of the Anaconda Cop
per Mining company and of the other
companies affected by this plan are all
located within a comparatively circum-
scribed area and are contiguous and !
as to make almost impossible the seq
regation OF ownership OF underground
ore bodies
Some of the operating features con-
sldered in favorinS the proposed trans
action are economies which viii result |
from working all the mines In accord
ance with a general system of develop
ment. thus relieving owners from the |
pensive surface and underground |
plants necessary under present conIi-
tions of separate ownership
The Anaconda company because OF
its size and its location. is regarded us
the logical company TO become the
purchaser OF the properties OF the other |
companies. hence the step to cali
special meeting, which was the first to-
wards submitting the matter to stock
holders OF different companies for their
consideration.
I. Is not likely that all OF the in
crease OF stock. II authorized, will be
used at present for carrying out this |
plan.