The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-02-01
To Enlarge Boston Mill.

The placing Of the Utah Copper-BostOu
Consolidated portion of the merger IN
form for greater production will be pushed
vigorously from the start. Already the
new issue of Utah Copper stock has been
underwritten by Hayden Stone & Co. to
the extent of S3.675.000, which sum will be
used for enlargements and betterments
One of the first things to be undertaken
will he the charging of the capacity Of
the Boston Consolidated mill at Garfield
from 5000 tons a day to 5000 tons day.
The added production which that Will
call for will be easily provided for by the
placing in effect Of the new system of
operations by which the two adjoining
great properties in Bingham VIII be
worked as a unit Various economies in
all departments viii be made possible by
the consolidation, but these, Mr.. lacking
said il was too early to discuss in detail.
OF the portion Of the new issue OF
Utah Copper stock which bas not been
set aside for exchanging Tor the STOCKS
of Boston Consolidated and Nevada Con
sOlidated, shareholders of record January
81 have the right to subscribe for one
share at $50, for every ten shares of the
old stock which they hold.
Terms of payment for the new stock
are $50 a share at time OF subscription,
or on or before March .; SIS share
on or before April l. and SIS a share
on or before May I. Right to antici-
pate any or all payments is given.
I Stock fun paid and outstanding at the
time of closing the books for the April
dividend will carry the dividend.
Directors Are Added.
At a meeting of directors held just
before Mr. lacking left New York, the
board of directors of Utah Copper COM
Dany was increased from nine 10 fif-
teen. j. y. Hawkins resigned and the
following seven were added: Daniel
hurry and ). r. Guggenheim, F. A.
Schirmer, Of SChirmer, Chaplin d En-
mons: Ernst Thalmanu, Of Ladenburg,
Thalmann x Co.; Eugene Meyer, Jr.,
and T. W. Lamont, vice president of the
First National bank of New York.
| These new directors, with the follow
ing, constitute the full board; c. NJ
! MacNeill, Spencer PenrCse, -. {. jack
/ ling. Charles Hayden, William b.
| Thompson, 5. W. Eccles. J. II. Ham
mOnd and *. X. McLaren.
The new board elected these commit
/ tees: Finance. NJ. MacNeill, eX-Of-
/ ficio: hurry Guggenheim, Charles Hay
/ den, Spencer PenrOse, Thomas w. La
mont and j. H. Hammond. Executive
! c. NJ MacNeiu, eX-officio: d. c. jack
/ ling, hurry Guggenheim, w. B. Thomp-
/ son and Eugene Meyer, jT.
| Notice has been sent to the secretary
/ of Nevada Consolidated Copper COM
pany advising the company of the in
| crease in capital stock of Utah Copper
! company, and that in accordance with
| an agreement made with certain Ne
! vada shareholders, a portion of said
capital stock is available for the pur-
pose of offering to all shareholders of
! Nevada Consolidated the right to re-
! ceive one share Of Utah Copper for
/ each two and one-fOurth shares of Ne
| vada Consolidated held by them, at any
| time on or before March 5, and at the
| time Of any such exchange on or be-
| fore March 5 to receive the right 70
| subscribe for one share of increased
stock Of Utah Copper company at $50
4 for each ten shares Of Utah stock thus
| received in exchange for Nevada shares
! More than 100000 shares of Nevada
/ Consolidated stock have been accepted
| and will go into the consolidated COM
pany, regardless Of all opposition.