The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-28
Special Meeting Held Yesterday
Ends With Purchase by
Anaconda Ratified.
NOTED OLD COMPANY
THING OF THE PAST
Some Opposition to the Deal
Manifested, but Vote Was
Decisive.

The Anaconda Copper company on
Friday, In this city, won Il distinct VIC
tory over the interests opposed 10 the
sale of all the property Of the Alice Gold
and Silver Mining company, \ special
stockholders meeting was held at 10
o clock in the local offices of the COM
pany, and out OF an issued amount of
400, 900 shares of stock 295, 100 shares were
represented, The vote case In favor
OF the sale OF the property 10 the Ana
Conda Copper company for 10000 shares
OF the latter organization was 2S9.590
shares. while 55l0 shares voted against
the sale.
Unless the matter is further delayed
by court proceedings, and Anaconda in
tcrcsts believe that the overwhelming
vote OF yesterday hardly. admits OF
legal test, the old Alice company soon
becoming a part OF the gigantic Butte
merger under the Anaconda ownership.
The company was organized under the
laws OF Utah in 1850. the 100000 shares
having par value OF S25 each The
mines were actively operated until 1899,
and afterward for a short time during
1897 and 1898. and the dividends paid
amounted to Sl,075,Oo0.
In recent address TO the stockhold-
ers, Informing them OF the meeting beld
sons why tho directors believed this sale
10 the Anaconda should be made, IL was
stated that the workings from the 700
foot 10 tho l50O-foot levels were flooded
pumping and other equipment would
necessi,ate the expenditure OF large
sum of money. while the lower grade OF
ore at depth would necessitate the cree
ton Of n mill at still greater cost. The
statement then continues:
Recently the stockholders OF other COM
n 10 Il..
Consolidated Copper & Silver Mining
company, Washoe Copper company, Big
Elackfoot Lumber company, Butte &
Boston Consolidated Mining company.
Trenton Mining & Development company,
Red Metal Mining company. Diamond
Coal & Coke company and Parrot Silver
effect a consolidation OF all the property
owned by them. by a sale OF their re-
spectlve properties TO the Anaconda Cop
per Mining company, for certain amounts
Copper Mining company. and the last
named company, in pursuance OF the
same general plan, has offered 10 pur-
chase all of the property of this com
Pany, paying therefor 30, 900 shares OF
the capital stock of the Anaconda Cop
per Mining company.
BY the consolidation above referred to
the Anaconda Copper Mining company
has acquired the most important mining
ground in the Butte district. and II Is
believed that Il will be enabled, through
age, ventilation and development, TO pros
pect in an economical manner the unde-
veloped portion OF the property thus ac-
quircd, This company Is the owner of
comparatively large areas Of mining
property which lie contiguous to some OF
the property belonging to the Anaconda
Copper Mining company. and which it is
believed are of sufficient value TO Justify
prospecting and development provided
the same can be carried on by COM
pany strong enough financially to bear
the burden of so doing.
In addition 10 the cost which the re-
sumption OF active mining operations
would entail, you are advised that II
would be necessary TO construct and
equip new mills or reduction works OF
modern design and suitable character to
handle the ores of the company economl-
cally. provided such ores were encoun-
tered in sufficient quantity TO Justify
the continuance of mining operations
Such action would require the eXpendi-
ture OF large sums OF money. at present
Unavailable. You are therefore advised
that In the opinion Of the management
it would be to the best interests OF this
company and It's shareholders to accept
the proposition of the Anaconda Copper
Mining company.
The Anaconda interests at the meeting
yesterday were represented by n. Cav
Stivers OF Butte, attorney for the or
ganlzatlon