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Show In PUS ARE Big Consolidation Will in No Way Conflict With the Law. I DETAILS EXPECTED IN TWO WEEKS H Standard Oil Decision Has No Real Effect on Copper Tho nepotialions for Hie formntion oi the great morger in the copper in-dustry in-dustry proceeded this week without iu- H terruptiou, snys 'Mining Financial fl IS'cws. Somo apprehension was experi- LM enccd earlier in the week over the prob- H nbility that thu decision in tho federal HI court' of t he Missouri district order- inp tho dissolution of the Standard Oil H company as an illegal corporation opcr-H opcr-H ntiug iii restraint of trade, might cause an iibandoninont. of the plans for the H organization of a great corporation dominating the copper industry. On H this account copper shares on both the inside and outside markets experienced n prouounacd recession. This appro- hension v.-as without warrant. Very H early in the week the sponsors for the HI i:0)per merger project announced that HI they were proceeding without regard to HJ the federal decision in the Standard Oil HI case and that their plans would be con-H con-H Eliminated without delay. Will 2Tot Violate Law. H It has been stated upon authority H .that the directors had carefully 111- H quired into tho legal phases of the H matter and had decreed that thero H would be no violation of tho interstate H commerce laws in the organization of Hi the proposed copper trust. In this H matter J. Piorpont M'orgau. who is ar- Hl ranging tlie details, is evidently carry- H nig in mind tho same principle on H which lie proceeded in the case of the H .formation of the steel trust.' In, that H case, while organizing a great dominant H corporation, he left existent a large in- H dependent interest in tho same indus- H try. and tho result has been that the H steel trust, has never been assailed in HI the courts on ground similar to those upon which the Standard Oil has been attacked. The proposed copper merger HI ivill, therefore, proceed without inter ruption. Buying of Copper. i The fenture of tho week in connec tion with this proposed merger was heavy buying for the control of Utah Copper and the agreement for the absorption ab-sorption bv "Utah Topper of "Boston Consolidated. The Guggenheim inter-psts. inter-psts. who agreed to deliver tho Utah Copper to the merger, found themselves the owners of only about 300,000 shares of the stock, or less than a majority, ma-jority, Tho .Tackling, McNeil and Penrose Pen-rose interests, which owned about the panic amount of Utah Copper stock as the Giiggcnhoims, were averse to turning turn-ing the property over to the merger on the proposed basis. Between these two interests a warfare of buying for con-hol con-hol developed and the price of Utah Copper was advanced about $9 a share. It is believed that the Ouggcnhcims won out, in tho contest, as Utah Copper is still figuring prominently in the merger mer-ger project. Definite News- Soon. The buying of Boston Consolidated a by Utah Copper was a serjuel to the natural conditions prevailing at the property which makes the ownership of Boston Consolidated by the Utah Copper Cop-per imperative. It is understood that Utah Copper will absorb Boston Consolidated Consol-idated on the basis of ono share of Utah Copper for two and. one-half pharos of Boston Consolidated, giving to the lntter stock a value of about $25 per share. On the strength of this deal Boston Consolidated advanced to sales above $21 por share. It is promised prom-ised that definite news regarding tho , merger will be forthcoming within the next two or three weeks. |