Show A BILLION COPPER MERGER big company to be formed by morgan rockefeller and cole coie ryan copper curb and mining outlook announcement of the morgan ro rockefeller chef eller anaconda anacon da amalgam amalgamated ate d cole ryan c copper 0 p p e r consolidation with a capitalization approximating will be made before march 1 1911 almost daily conferences are being held by the interests involved in this consolidation and authorization for the statement made in the foregoing sentences comes from highest sources john D ryan president of the amalgamated copper company and today the foremost figure in the copper world will head the new combination the financial plans will be worked out and the new corporation floated according to present understanding by the banking house of J P morgan co As matters now stand the guggenheim interests in copper which in a mining sense are chiefly represented by utah copper and nevada consolidated will not be invited to join the new combination or consolidation but will be left to shift for themselves the properties to be absorbed by the merger now projected include everything in the butte district the cole ryan properties in nevada and arizona and the international smelting smelling Sm elting refining companas comp anys smelter at tooele thoele utah and its refinery at perth amboy N J some additional properties as for instance the nevada utah consolidated pioche and prince consolidated of the pioche e district all of which are rich in fluxing flexing ores may be taken in also A great number probably a majority of the lake superior district companies will be included in the proposition not through direct ownership of properties but through selling agency control of their product according to information which has come to the outlook the lines to be adhered to in working out the merger will follow very closely those suggested by J pierpont pont morgan last fall when after the standard oil decision in missouri he counselled counseller coun selled the copper interests then engaged in considering a merger proposition to confine their energies tor for the time being to the formation of state consolidations refraining from stepping over any state boundary lines until it should be determined by the decision of the standard oil case on appeal how far a general merger might be carried the guggenheim interests at that time refused to accept mr morgans counsel and against his wishes proceeded with the undertaking whereby utah copper located in utah stepped over a state boundary line anil and secured control of nevada consolidated located in nevada under this plan all the montana properties to be taken into the merger will be transferred to the ownership of anaconda copper and it is understood that amalgamated will pass entirely out of existence the utah nevada arizona and other properties will be merged each with an owning corporation domiciled in the state where the properties are located the selling agency now controlled by these interests the united metals selling company will be the bond by which all these interests are held together although it is the present plan to have the stocks of subsidiary corporations controlled by one monster corporation to be organized the bond by which they will be securely held will be contracts for the marketing of product and in this same manner it is calculated to take the lake properties into the consolidation the announcement that giroux consolidated will erect a great smelter near the property at ely is believed to be merely one detail in this project as provision must be made by these interests for handling their nevada ores in the state of nevada |