Watertown leader. [volume] (Watertown, Jefferson County, Wis.) 1909-1911, 1910-01-28
The COPPER MERGER
HOW AMALGAMATED COPPER WAS
FORCED INTO IT.
An Immense Union Embracing Vast
Properties Believed to Be UIti-
mate Object

NEW YORK, Jan. 21.-On April /
next the Amalgamated Copper company
must. under Il resolution of the stock
exchange, adopted several months ago.
make FULL and complete report Of its
assets, earnings and liabilities to the Of
hcerS of that institution and to the pub
lie or withdraw it's shares from the mar
ket facilities of the exchange 1t has
accepted the alternative and will lose its
Identity in Il big combination of copper
companies, the first step toward organ
ization of which was taken yesterday.
Announcement was made yesterday
that at a meeting of the directors of the
Anaconda Copper company held Tuesday
it was decided to call a special meeting
of the stockholders in Anaconda. Mont.
on March % for the purpose of consider
ing Il proposition to increase the present
authorized stock of the company from
100000 shares to 100000 for the pur-
pose of acquiring the property of other
companies located in the Butte district.
Chief among these companies is the
ANA gamated. whose shares are to be TAX
en- over on 4 basis which is said to be
40. The stock closed last night at S3is,
which is net advance of 53s per cent.
over the close of Tuesday. Anaconda,
whose par value is SO Il share. closed
yesterday at 52.Sl12. On this basis the
new capitalization of Anaconda viii have
a market value Oh ulOIE luIu ,NDOD.t'JD.-
600.
1t is believed the ultimate scope of
this new $500, 100000 company Is 20 30
much beyond the merger of Amalgamat-
ed and the other Cole-Ryan companies.
Indeed, it has been reported that the final
plan is to form a close working alliance
between the new Anaconda company and
the Guggenheim combination which was
completed today. The Guggenheim com
panies are the leading low cost copper
producing companies of the country. The
Utah Copper company yesterday com
pleted its absorption of the Boston Con
solidated Copper company and the Ne
vada Consolidated Copper company. The
agents and attorneys of the Boston Con-
sOlidated company delivered the entire
capital stock of that corporation to the
Utah interests and received therefor 30,
900 shares of Utah. At the same time
shareholders representing nearly 30 per
cent. of the Nevada company rendered
their shares to the Utah company and
received in exchange one share of Utah
for each two and one-quarter shares of
Nevada. The Guggenheim interests
turned in all their stock. The leading
companies that will appear in the Cole
Ryan combination will be Anaconda.
Amalgamated North Butte. Butte Coali-
ton. Boston and Montana and Butte and
Boston, together with the Amalgamated
group Of smelling companies.
The AmalgaMated owns among other
properties, Il majority of the stock of the
PARROT Silver and Copper company. cap
ital S2,29S,5OO; Boston and Montana
Consolidated Copper and Silver Mining
company, capital $3.750.000, and the
Butte and Boston Consolidated Mining
company, capital $2,000,00O, all of Butte
Through its ownership of the Backfoot
Mining company, Amalgamated controls
more than 100000 acres of timber
lands; estimated to contain about l.
OOO,OOO,OOO feet of standing timber, to-
gether with saw mills with an annual
output of S5,O00.00O feet
Butte Coalition. one of the properties.
it is believed. will be included in the
merger. is capitalized at S15.OOO.O0O and
owns the $4,000 900 capital stock of
the Red Metal Mining company, which
owns the Minnie Healy. Nipper, RaruS.
Michael Davitt and Guardian mines, and
majority of the stock of the Montana
Ore Purchasing company, as we'll as an
interest Ill the TramWay and Snoh omiSh
mines and a majority of the stock Of the
Alice Gold and Silver Mining company.
North Butte, another property which
it is believed will go into the merger, has
an authorized capital Of S9.O000OO of
which S6,0OO,0OO has been sSu"d. 1t is
Cole-Ryan property and controls the
Spectator Mining company and other
properties at Butte,
In Wall street it is commonly under
stood that John ID. Ryan will head the
greater copper amalgamatiOn.