The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-01-18
WALL PUTS CHECK
ON COPPER MERGER
Injunction Obtained by Well
known Salt Laker Delays
Combine for Present.
SPECIAL MEETING OF THE
UTAH COPPER POSTPONED
Claim Made That Interests of
Minority Stockholders Are
Not Well Protected.
Special to The Tribune.

Special 20 IlS IFluuHcs
NEW YORK, Jan. 17.-The proposed
merger OF the Utah Copper company, the
Boston Consolidated Mining company and
the Nevada. Consolidated Copper com
pany has received a check which may
be made permanent aud which may ultl-
nnately result in hndering the greater
merger OF all the copper producing COM
panies in the United States through the
securing of an injunction by stockhold
ers Of the Nevada Consolidated company
in the United States court at Trenton,
| y. j.. restraining the amalgama ton un~
I'll further argument on January "a.
| a special meeting OF the stockholders
OF The Utah company. which was sched-
ued 10 be held today to further the
plans OF the merger. was postponed until
the 20th. the day after the arguments as
10 whether the restraining order shall
be made permanent or not.
Wall Interested Party.
The injunction was issued by Judge
Cross in chambers upon application of
Colonel l.. a. Wall and Charles W. Gra
ham, both stockholders i'm the Utah COM
pany. Edward \, Day of Newark. n, j.,
acted as Colonel Walls attorney and to-
day he expressed confidence that his
clients suit would be successful.
that of the Utah company at Bingham,
against the company in which he asks
damages OF nearly 81 000, 900 for ore al
legged to have been extracted from his
ground.
There Will be no Utah merger ] feel
positive OF that" said Colonel Wall at
the Waldorf-Astoris hotel 1--WE have
consulted several of the foremost cor
poratlon lawyers In the east and all agree
that the grounds upon which VIC base
our suit are inContestablo."
Several reasons for asking for the re-
~f,- .ty,,.
tition, of Mcssrs Wall and Graham, the
principal allegst tions being that the pro-
posed merger is in violation Of the
sherman antitrust act, that il would
stockholders, the privilege of subscribing
for new stock In tho Utah company with
out nrst Offering said stock 10 the pros
ent Utah stockholders would he illegal.
Special Plans Blocked,
The special meeting of the Utah com
panY stockholders today was for tho
purpose OF acting upon an elaborate pro
Gramne. The stockholders were to have
been asked TO ratity the proposed incress Sc
In capital stock as was available, There
were reports of further federal litigation
over some OF these proposed actions later
In the day. Colonel Wall attaches erca t
referring to the antitrust law violation
and hc thinks that these may have a
great hearng upon the ultimate amalga-
nation Charles NJ. Mcneil. president
TO handle his campaign in person.
Colonel r.. EahbItt. counsel for Nc
Neill, viii hold a long conference with
his client tomorrow morning and they
will map ont a campaign TO combat the
Wall forces Colonel Wall today Sa I'd
that Vice President Phillips need not go
further with his campaign against the
merger I'VE shall do for Mr. Phillips |
what he wants TO do himself" said |
Colonel Wall
II was stated 10 a Publishers Press rep |
resenlstlve by gentleman representing |
The Utah Copper company that Colonel |
Wall had been engaged in considerable |
with the company, hut that il |
was generally supposed that ne had dis |
posed OF all his holdings I'm the COM !
pany. In explaining that tho merger was |
against the interests OF minority stock |
holders Colonel Wall aid: Assuming |
that the official reports Of the directors !
and manaComents OF the companies in |
volved in the projected merger are truth |
iui, ! bgurc that Utah Copper stockhold- |
ers would lose % per cent of the value |
oi their holdings by the transaction