Show answering a correspondent with regard to efforts being made by the utah consolidated to reorganize and save the property to the old stockholders the united states investor of recent date says we have looked into the proposed reorganization of the utah consolidated copper co and do not find anything of a suspicious nature litigation with utah apex which turned out unfavorably for utah consolidated was undoubtedly expensive and it is not surprising that the company should be found short of funds especially in view of the poor copper market of recent years which has resulted in larger and stronger companies showing large deficits in net the past two years the company has paid the judgment obtained by the utah apex co out of borrowed from the international smelting smelling Sm elting co and current assets the money loaned by the anaconda interests was on a mortgage on the properties there is also due the utah metals selling co another anaconda subsidiary the anaconda peo people ale are pressing utah consolidated for their money but before foreclose fore foreclosing closi na on the properties it has been suggested that the stockholders of utah consolidated be given the opportunity to provide the total of 1 needed to satisfy the companas comp anys creditors to do this a reo reorganization 6 has been proposed whereby stockholders may buy two shares of new stock for 6 for one of the old held in thi this s way may be raised if the entire shares are so disposed of shares of utah consol consolidated were recently quoted at two cents on the boston stock edcha exchange which indicates the value which the equity ity which remains for the the market places upon shareholders other wa way y out for the utah if there really was any consolidated stockholders we are quite sure that you would find them organizing to take steps against the proposed reorganization |