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Show BIG FIGHT ENDS IN UTJpPPEil Official Announcement Mailo That Plan of Reorganization Will Go Through. SETTLEMENT OF WAMAS SUIT MUST FOLLOW Harmony in This Gigantic Plan Will Mean Much to the State. Krom a source, tho reliability of which cannot bo questioned, It was learned during dur-ing the day that nn adjustment had been reached or tho difficulties between Vice-President Vice-President E. A. Wall, owner of a one-llfth one-llfth Intercut In the Utah Coppor company, com-pany, for the acquisition of a control In which tho Guggcnhelms havo long been figuring and the other interests, nn announcement an-nouncement that last night was officially contlrmed at both ends of tho lino by the parties directly interested. Col. Wall Confirms. I'pon his return from the Knst last night, Col E. A. Wall, who, ten daya ago, left for New York to confer with the auggonhclms and the other heavy Interests In-terests of tho Utah Copper company, when confronted with the direct question as to the stntus of the affairs, admitted that an understanding had now been reached, that harmony had been obtained ob-tained and that the proposed plan for reorganization re-organization would go through without unduo delay. Will Withdraw Suit. This, of course, means that tho Injunction Injunc-tion proceedings formerly tiled by Col. Wail against tho Utah Copper company, whereby he sought to prevent the transfer trans-fer "of a control of the stock to the Gug-gcnhelms Gug-gcnhelms nnd tho punnce of $3.(O),C0 6 per cent bonds, conditioned upon a consequent con-sequent Incrense In the capital stock, will bo withdrawn as soon as tlie necessary formalities can be complied with. Of Great Importance. No recent announcement In the local world of mining has benn of such paramount para-mount importance as tho ono confirming the settlement of thin action. It means that there Is nothing now to hinder tho hnstenlng of work on the great copper concentrator of tho company, the foundations founda-tions for which arc now under construction construc-tion near Gartleld. It means that within a year and a half at most the Utah Copper Cop-per compnny will be handling thousands of tons of oro per day. employing hundreds hun-dreds of men where they now employ scores, nnd contributing largely to the prosperity and activity In the new smelting smelt-ing center thut must of noceuslty spring up on the south shores of the great lake, for the magnificent plant of the American Smelting and Refining compnny Is now well under way and It Is practically settled that within a few months work will begin on the big plant to be erected by tho Boston Consolidated, of which Samuel Newhouee Is tho moving spirit. |
