Weekly journal-miner., 1916-10-18
GREEN MONSTER BUYS COPPER
 CHIEF?
PROPOSED MERCER OF TWO BIG JEROME COPPER
 PROPERTIES IS CLAIMED TO HAVE BEEN EFFECTED
(From Wednesdays Daily)

Persistent rumors have been in the air for the past two days that the Green Monster Mining Company was on the point of taking over the Cop per Chief, and as a result the market went soaring. Monday morning the stock opened at S31S and yesterday it reached a high of S45S, receding later to S4.
 Coupled with the report of the sup posed consolidation is the rather sem sational statement that Will L. Clark, has resigned as general manager of the United Verde to assume the man. agement of the Green Monster when it shall have acquired the Copper Chief. Attempts to verify these re- ports only elicited the response from Green Monster officials that the mat ter of the rumored consolidation had been under discussion but that no meeting had as yet been held to take definite action. Notwithstanding this lack of official confirmation, Jerome people evidently regard the deal as good as closed, for they were heavy buyers yesterday in the New York market, buying orders being wired there that aggredated l5,000 shares.
 Later on in the day, the price had reached such a tempting figure that many holders who had bought the stock at a low price unloaded their commitments, or at least portion of them, the effect being to depress the market by the proft-taking trans actions.
 Assuming these reports to be cor rect, the Green Monster would have a magnificent property by the acquisi- ton of its neighbor, the Copper Chief The latter is already a producer and has been shipping ore for several months Its title is vested in three widows, but in July of last year it was taken over by the Hayden Devel- opment Company under bond and lease, and it would be this instru- ment that would be transferred to the Green Monster people.
 On what basis the proposed merger could be effected is also matter of speculation. The Green Monster has only 300,000 shares of its treasury stock remaining, and that amount, it is claimed, would not be sufficient to make the exchange. But it has S525,- GOO in cash in bank, and it is pointed out that the deal could be effected by a payment comprised both of cash and stock.
 LeRoy Anderson, general-counsel for the Green Monster has been in Jerome for three days and stress is laid upon that fact by those who feel positive that the proposed consolida- ton is to be effected, but as he is also attorney for the United Verde no special significance can be attached to his visit. What really lends a color of. truth to the reports in circulation as to the mooted amalgamation is the fact that the Green Monster people have been negotiating for some time for the purchase of the Hooker & Ewing group which adjoins the es- tate. There was only difference of | several thousand dollars between the | offered and asking price, it is said, ] but before a compromise figure was agreed upon other parties came | along and offered price that was ac- cepted by the owners. A year ago, it | is stated that this group could have ! been. purchased for S25,0OO but values | have jumped so in the meantime in | the Jerome district, that the property | changed hands on Monday at a price said to be about ten times that figure.
 Losing the Hooker & Ewing group, it is thought, is what probably be- stirred the Green Monster directorate to quick action as regards acquiring the Copper Chief, assuming Of course that such deal is pending or has all ready been closed
 BULLWHACKER MINE