Show THE BIG consolidation As announced in the last issue of the mining review the proposed consolidation of the boston consolidated with the utah copper is an accomplished fact ana one of the 6 greatest rea test mining deals ever contemplated in the west has been successfully consummated the merging of the utah copper and the boston consolidated causes no surprise among those familiar with the conditions surrounding these two great bingham utah enterprises consolidation because of physical conditions was inevitable for nature originally intended that the great cop per impregnated porphyries ries embraced in the holding of the utah and the boston if they were to be operated economically and profitably should be worked as one unit instead of being split up and mined to much disadvantage by several companies this condition was recognized by the officials of both companies several years ago and so pregnant was the thought of ultimate consolidation that both the utah and the boston have been worked in such a manner that now that the merger has finally been effected the whole scheme of operations dovetail dove tail tall one into the other in such a manner that the work from now on under one head can be conducted on a plan so fraught with economical possibilities that the interests inte rests of the stockholders in both original companies will be conserved as well as greatly augmented that some opposition to the proposed consolidation would present itself was to be expected but when this opposition was presented it was so trivial in its nature that it was very easily overcome As a matter of fact the vote to consolidate was almost unanimous so heartily did all parties interested approve of the proposition and nothing now seems to stand in themay the way of the utah copper company in the successful and profitable operation of one of the largest and greatest copper mines on the american continent and this consolidation to say the least will have a beneficial effect upon the mining industry of bingham will add additional lustre to the fame of utah as a splendid mining state and give additional confidence to those who have been identified with the two companies whose merging of interests means enhanced values and larger dividends it is understood that at the earliest possible moment production is to be increased by the utah copper company that the daily capacity of the boston consolidated mill is to be increased to tons and while the announcement has not been officially made the impression prevails that the utah copper plant at garfield is to be enlarged so that it can handle tons of crude ore daily the mines of the company also are to be operated upon a s cale C ale much greater than ever before since the consolidation of the two companies the capitalization of the utah copper has been increased from to shares and this issue of in new stock has been underwritten under written by hayden stone co of new york the stockholders of utah copper company will be given the first chance to purchase this new stock and stockholders of record january 31 1910 will have an opportunity tunny to subscribe to one share of new stock for each ten shares of stock in the old already held the terms of payment are 20 at time of subscription on or before march ath 15 on or before april 1st ast and 15 on or before april at a meeting of the utah copper company held january the board of directors was increased from nine to otteen members J D hawkins resigned from the board and seven new hew members were added as follows daniel guggenheim murray guggenheim S R guggenheim IF A shirmer eugene meyer jr and T W lamont these with C M macneill spencer penrose D C jackling charles hayden W B D thompson S W eccles J H hammond ernest thalman and K K mclaren comprise the directorate at the same meeting committees were appointed as follows finance committee C N macneill ex of clelo murray guggenheim charles hayden spencer penrose T W lamont and J H hammond executive committee C M macneill D 0 jackling murray guggenheim S R guggenheim W B thompson and eugene meyer jr upon his return from new york on monday february colonel D C jackling vice president and general manager of the utah copper company made public announcement no of the staff selected to assist him in tho management of utah copper as well as other companies of which he is general manager the list is as follows R C Gen gemmell imell assistant general manager of the utah copper ray consolidated gila and chino F G janney mill superintendent of the utah copper and general charge of all milling operations for the companies of which mr jackling is general manager john M hayes cashier for the utah cop per and the direction locally of the consolidated soli dated offices of the utah copper and the boston consolidated the formal taking over of the boston consolidated mines and mill was consummated on the same date |