The Birmingham age-herald., 1910-01-27
IMMENSE COPPER
 MERCER PLANNED Capital of New Concern Will Be About S500,000,OOO ANACONDA TAXES LEAD Meeting Has Been Held By Directors of the Biggest Copper Concern
 and There the Plans We're
 Definitely Concluded.

New York, January 26.-Prelminarv 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 an- other billion-dollar company was many times mentioned, but the more conserva- tive believe the final capitalization will be closer s5o0,doO.O00.
 The Anaeonda Copper Mining company officially announced late this afternoon that meeting of the board of directors yesterday was held and 1t was then de- eioed to call special meeting of the stockholders of the men March 29 in Anaeonda to pass on a proposal to in crease the capital stock from $a5O00.OOO to sl5o,oO0,00o for the purpose of acquiring the property of other companies located in the Butte district
 The Amalgamated Copper comnanv oWhs DO per cent of the Anaconda stock. foilowing the merger Of the Butte properties which include the Amalgamated Copper company and it's various holdings namely, the Anaconda Copper company. Boston and Montana, Butte and Boston. Washoe, Trenton and other subsidiaries and the North Butte and Butte coalition. II IS expected the New Anaconda with Us Increased capital of $15O, O,0O0OOO will merge With the Guggenheim. Haggin and other copper interests, thus effecting A corporation which will not only control the copper output of the United States but at the same time will influence the copper market of the world.
 Concerning the plan to merge the va rlous copper properties in the Butte dis leI ItrQr tod
 In statement issued this afternoon says:
 The reasons for the proposed increase in stock involve consideration of difficult and complicated legal questions, as well as those relating to the economical and efficient management of business opera tions of the different companies
 What is known as the law of the apex. or the right to follow a vein on it's dip extra laterally beyond the surface lines of mining claims, prevails in Montana and has given rise to many perplexing problems in connection with operations in the Butte district
 Mining claims of the Anaconda Cop per company and of the other companies affected by this plan are all located with in a comparatively circumscribed and contiguous territory, and so closely and inextricably interlaced as to make al- most impossible segregation of ownership of underground ore bodies.
 Some of the operating features which have been considered in ravoring the proposed transactions are economies which will result from working all of the mines in accordance with a general system of development, thus relieving owners from necessity of maintaining nu- merous expensive surface and under ground plants necessary under present conditions of separate ownership.
 ''The Anaconda company, because of it's size and it's location is regarded as the i logical company to become the purchaser of properties of the other companies, and the step taken to call special meet ing was the first toward submitting the matter to stockholders of different com panies for their consideration.
 Tt is not likely that all of the in crease of stock, if authorized, will be used at present for carrying out this plan"