Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-01-26
NEVADA con. NOW IN DEAL.
Majority of Stockholders Favor Con-
solidation With Utah Copper.

Special dispatches received from the
east last night declared that the in
Junction secured by Col f A Wall and
Charles w Graham, restraining the
Utah Copper company from holding its
special meeting, had been dissolved As
the complaint was not stricken from
the files as the defendants asked Ii
now remains before the court, where II
can still be tried on It's merits. The
points on which the court dissolved the
injunction show plainly the ideas of the
court which are against the theory or
the action. 1t Is therefore probable that
the suit will be dismissed on the COM
plainants motion. The SUIT Is now like
snake with its teeth pulled
Wall asked that the court restrain the
meeting. as the consolidation of the
Utah Copper, Boston Consolidated, and
Nevada Consolidated would BIO a detri-
ment to the Utah Copper stockholders
1t was further contended that the al
lowing of the Nevada Consolidated
stockholders to participate in the pur-
chase of the now ISSUE OF stock would
be Illegal, as IL should all be offered to
the Utah Copper stockholders first It
was further contended that the con-
eolidation of the companies was unfair,
as Utah Copper stock was worth s19c a
share. Boston Consolidated $3.50 a
share. and Nevada Consolidated $3.50 L
share, The point on which Wall placed
his greatest confidence of winning was
his charge that the consolidation was
combination in restraint of trade. and
therefore came under the Sherman
antitrust act
The defense made its strongest plea
In the fact that it declared Wall did
not come into court with clean hands
and that he had hired Graham to take
part in the action.
GROUNDS FOR ORDER.
The two judges who heard the case
at Trenton, N. J., In giving a decision.
paid little attention to the plea OF civil
standing of the complainant. Judges
Janning and Cross dissolved the In
junction on the following grounds:
First. any violation of the Sherman
antitrust law would have to be prose-
cuted by the government alone. and the
only relief individual stockholders could
seek would be through suit for dam
ages
Secondly, other grounds upon which
wall and Graham based their suit had
been so fully answered and explained
by the affldavits filed on the part or
the company that an injunction could
not be granted without ignoring the
The dissolution OF the injunction re-
moved every obstacle against the con-
solldatlon. 1t is said that 1000, 900
shares of the 100000 shares of Nevada
Consolidated stock issued have eX-
pressed their desire of entering the
combine.
New York, Jan. 26.-The stockholders
meeting of the Utah Copper company
was kept in session all yesterday to
await the outcome of the court pro-
ceed.ngs at Trenton. On announce
mcnt of the decision dissolvIng the
injunction. the stockholders adopted
the necessary resolution authorizing
the merger, SO per cent voting in It's
favor.
Late last night n meeting was called
at the Fifth avenue home of Samuel
Untermeyer counsel for the Utah and
Boston companies. where an exchange
of sbaros was made. involving more
than 500 900 600
Ut is underatood that Mr.. Inter
meyers fee of s77s.000 represents more
than four years work in bringing about
the merger and that this sum was
voted to him by the unanimous consent
of the stockholders and board of dlrec-
tors OF both the Utah and Boston Cop
per companies