Show DAVIS DALY AND EAST BUTTE MERGER the recent closing down of the davis daly and east butte properties at butte is at least partially explained in the following gossipy merger story astory sent out from boston on the negotiations are in progress with a view to merging the davis daly and east butte copper companies operating executives were in boston this week and with the officials of the companies held informal conferences developments t to 0 date however are purely embryonic embr ionic having more to do with respective property values than with an exchange of securities provided a satisfactory agreement can be reached on questions of finance it is seemingly the logical thing for these two companies to coti consolidate davis daly has a well developed and valuable mine traversed by a rich vein and it has in the last twenty four months put a large amount of commercial ore in sight it has recently recently y enlarged b and re equipped its plant and brought b hoists and mining facilities to a point where it can take advantage b of the increased tonnage of developed ore east butte has an up to date smelter and reduction works and over in cash and copper a very large amount of which is cash through the efforts of president gross it has grown from a doubtful enterprise ten years ago to a prosperous property but its Pitts mont mine has been operating for a relatively long time and is getting to a point where the addition of a relatively new and highly developed property like the davis dalys colorado mine would round out a copper mining entity that would conceive ably be very profitable to stockholders of both companies davis daly has outstanding shares of stock and capacity for a production of pounds of copper annually east butte has shares of outstanding stock with capacity for pounds of metal a year not all this latter however means actual production of east buttes mine for the company has been treating davis davas dalys ore on a custom toll toil basis for several years and includes th this is in its own smelter production |