The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-07
q. A. Minnear & Coz

Boston, Mass, March THE Calu-
met & Hecla stockholders at their an
nual meeting today, voted in favor of
the merger. After the informal vote
the meeting was continued until April
25 at 10 o'clock.
About ten minutes were consumed in
reading the ahdavits, stating that
notices of the meeting had been prop
erly mailed and the circulars had been
forwarded to stockholders fully setting
forth the action of the directors in
their recommendations regarding the
consolidation
Counsel Thomas N Perkins, in re-
ferring &c the action brought by God
frey NJ. Hyams, said:
THAT order applies only to the os-
ceola but inasmuch as that order has
been entered, IL seems to us that in
stead of taking formal action by any
of the other companies that are con-
cerned in the consolidation, there
should be informal action taken to get
an expression of opinion from the
stockholders as to whether or not any
such consolidation is desirable, and
for that purpose. when the 'tellers re-
port, there will be offered to the meet
ing motion which | have had print
ed. The effect of this motion will be
to show whether or not the stockhold-
ers of the different companies and the
same motion will be offered to the
stockholders of all the companies, feel
that such consolidation should be
brought about.
The motion which Mr.. Perkins re-
ferred to provided for a consolidated
corporation to be known as the Calu-
met & Hecla Mining company with
10000, 900 capital stock divided into
100000 shares, par $25. The property
and assets of the several companies
are to be taken in full payment of
32S56S shares of stock. The number
constituting the board of directors
shall be seven and the directors for
the the first year shall be as follows:
Quincy A. Shaw.
Rudolph l.. Agassiz.
Francis w. Huunewell.
Francis l.. Higginson.
james MacNaughton.
The term of existence Of the con-
solidated corporation shall be n period
of thirty years.
Although the vote at the =. II.
meeting was an informal on", not a
share appeared in opposition to the
plan. The vote on the merger stood
1916 shares in favor, none against,
out of total of 100000 shares out
standing. Necessary to carry the mer-
ger, $4,000 shares.
Section IL of the resolution referred
TO- provides that: That when the
consolidation shall take effect II shall
take effect as between the said COM
panies and the stockholders thereon as
of March 18th. 1911, and, IL, after tha'
date and before the consolidation be-
comes effective, any Of the said cor
lorations shall have declared and paid
airy dividends, there shah be paid to
the stockholders OF each of the. other
corporations at the time of delivery
to them Of their certificates OF the
stock of TIE consolidated corporation
such sum of money as shall be equiv
alent to the dividend so paid to tho
stockholders of the corporation SC
paying dividend"
Tamarack and Allouez in Favor.
At the annual meeting OF the Tam
arack today. 42.617 shares were voted
In favor of the merger. Only $4,000
were needed.
The stockholders OF the Alloue'
voted IN favor of the merger. The
Allouez vote on the merger stood 66''
052 In favor ana 7,5 against Ncces'
sary 10 carry. the merger, 5000
shares.