The Cordova daily times., 1917-02-12
kENNEC0TT DEAL NOW UP IN
 THE AIR

Concerning the reported merger oi the Utah and the Kennecott, which oc cupied much space and comment last month, and excited Alaskans consider ably, the Boston News Bureau, of re cent date, says
 Since the recent stock market col lapse nothing has been heard concern ing the Kennecott and Utah copper 2.2 shares of Kennecott for one oi Utah Copper. We understand all the differences which arose as to the ex ecutive management of the consoli dated company were ironed out some weeks ago.
 While the Morgan and Guggenhein interests, who dominate the Kennecott Copper Corporation, were favorable tc the merger on 2.2 shares for one basis and might be able to secure sui ficient proxies to put the merger through, it cannot be denied that op position to any such plan has devel oped among some Utah Copper share holders. These shareholders believe that they are part owners in the worlds greatest copper mine, and do not take kindly to the proposed scheme which links up its fortunes with those of any other mining under. taking.
 As Kennecott owns in It's treasury 404,000 shares of Utah Copper, and as the Guggenheims individually are be. lieved to represent total of at least 200,000 shares there is in the combined total formidable aggregate of 600,00O shares, or almost 40 per cent of the Utah Copper Company's 1,6O0,0OO shares.
 The Guggenheims are believed to be buyers of Utah Copper during the past two or three weeks, and we have heard that they have taken over some very large investment blocks private ly. Whether this is being done to ia. cilitate the merger is not apparent at the moment
 The Utah Copper Company in 1916 produced 190,000.00O pounds of cop per. We figure that on this output the company must have cleared up no less than $33,O0O,OOO. Including its 51 per cent equity in the Nevada Con solidated, the Utah Copper's profits easily totalled $40,0O0,00O, or $25 per share.
 A prominent director states that since the adverse decision of the su. preme court in the Minerals Separa- tion litigation whereby the copper T nj esasss sssssaich have not taken out s4s,hfbited from using less than one per cent of oil in the flota- tion process, the Utah Copper has been making some extraordinary re- coveries in the use of a fraction over one per cent oil. Anything over one per cent does not fall within the pro- hibitions of the patent. The director in question asserts that the recoveries are just as high as when a very small percentage of oil was used, and that by cheapening the grade the in creased quantity of oil does not ma terially affect the cost.
 The Boston News Bureau of Janu ary 25, further says regarding the merger as follows:
 We wired Managing Director D. c Jackling, of the Alaska Gold Mines Company, who is now in San Fran cisco, asking If he had any adyices from the property that would explain the recent decline in the stock O $8.25 per share.
 MT. Jackling wired in answer as follows:
 q have received no advices iron Alaska that would account for tn, recent decline, and believe therefor, that there is nothing in conditions a the property to warrant it. The out iooh' oo loi oo oii opiO 1o iAIoi Pi . it, justifies the belief that the tonnag, can be maintained at not less thai the average for the last three months barring interference of severe wea ther; and the probabilities are tha the output may gradually, but slowly be increased as weather condition improve toward spring. do not ez pect the average values of the pas year can be improved much, if any