Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1910-01-27
HUGE MERGER IN
COPPER PROBABLE
OPENING MADE BY DECISION
OF FEDERAL JPDGES
PLANS LAID FOR FORMATION OF
BIG COMBINE
Butte properties to Be Welded in
Management with the Great
Guggenheim In-
terests
Especial to The Herald.l

NEW YORK, Jan. 26.-As a result of
Cross in the United states court at
Trenton, N. J., dissolving the injunc-
ton against the plan to merge the
Utah Copper company with the Bos-
ton Consolidated company, one of the
greatest combinations known to the
financial world is probable.
Plans were laid today for the for
nation of one of the greatest mergers
of the century. Announcements of CO.
alitions involving millions of dollars
of copper holdings We're made within
forty-eight houre after the decision of
the United States court, and what their
bearing will be on other proposed trust
mergers remains to be seen.
It is said by prominent financiers in
New York that the decision indicates
the trusts, but to penalize their sins,
will mean the furtherance of huge COM
binations.
Announcement was made officially
today that the merger of the Boston
Consolidated Copper company and the
Nevada Consolidated company with
the Utah Copper company was COM
pleted. The entire capital stock of the
Boston company has been delivered
over 100000 shares of its own stock to
Boston holders.
Plan Vast Monopoly
With the merger of the Butte prop
critics and the recent merger Of the
Guggenheim copper interests. 1t is now
expected in financial circles that the
Butte and Guggenheim interests will
consolidate and the result will be one
gigantic corporation controlling virtu-
ally the entire copper output of the
United States and influencing the
worlds market.
The merger of the Butte properties
will include the Amdlganated copper,
Anaconda Copper company, Boston
and Montana, Butte and Boston, Wa
shoe Trenton and other subsidiaries of
the Amalgamteed company; the North
Butte and the Butte Coalition. The
Amalgamated formerly owned about
So per cent of the Anaconda stock, but
is believed to have greatly increased
its holding since the merger plan has
| been under way.
In Wall street, it is commonly under
stodd John D. Ryan will head the
| greater copper amalgamation. ]. P.
| Morgan & Co. will promote the con-
solidation.
| 1t was officially announced that
| special meeting of the stockholders of
| the Anaconda Mining company has
been called for March % to vote upon
a proposition to increase the capital
stock of the company from 100000 to
| 5000, 900 shares of $25 par value. The
additional stock issue is for the ac-
quirement of property of other COM
panies located in the Butte district,
the statement says.
AmaIqamated Statement
The Amalgamated, in statement,
says:
"The reasons for the proposed in
crease in stocks involve consideration
of difficult and complicated legal ques-
lions as well as those relating to the
economical and efficient management
of business operations of the differ
ent companies.
"What is known as the law of apex
or the right to follow a vein on its
dip Internationally beyond the sur
face lines of mining claims prevails
in Montana and has given rise to
many perplexing problems in connec-
ton with operators in the Butte dis
trict
Mining claims of the Anaconda
Copper Mining company and of the
other companies affected by this plan
are all located within comparatively
circumscribed area and are contiguous
and so closely and inextricably inter-
laced as to make almost impossible the
segregation of ownership of under
ground ore bodies.
Some of the operating features con-
sidered in favoring the proposed
transactions are economics which will
result from working all the mines in
accordance with general system of
development, thus relieving owners
from the necessity of maintaining nu-
merous expensive surface and under
ground plants necessary under pres
ent conditions of separate ownership.
ut is not likely that all of the in
crease of stock, if authorized, will be
used at present"