Show OHIO 0 HIO COPPER RUMORS in commenting upon the future of ohio copper of bingham utah stoneman co of new york have the following to say according to information we have received the control of ohio copper has passed or is about to pass to very strong eastern financial interests and the ahe company is to be brought rapidly to a successful basis such as its ore reserves equipment and operating efficiencies justify the transfer of control is to be attended according to statements made by the complete elimination of the heinze interests and it is understood that already the new interests in the company have acquired from mr heinze not only all of his stock in the corporation but t title tle to the mascotte tunnel there is held by the united copper company which is owned by heinze a considerable sid erable interest in ohio copper and the formal anno announcement of transfer of control will probably not be made until the new interests have acquired the holdings of the united copper company which they are now seeking under the plan as it is now laid out the new interests on their accession to the open and official control of the company will immediately take up the s 1 authorized but bonds and with the proceeds pay off the floating indebtedness debt edness amounting to more than and complete the equipment of the mill so as to bring it to a capacity of at least tons daily the mascotte tunnel it is understood will be turned over by these new interests to the denver sc rio grande railroad for extension and operation the ohio copper company to have a twenty year contract for the transportation of its ores through the tunnel at the rate of 15 cents per ton thus insuring it an economical outlet to its mill during the probable life of the mine |