OCR Text |
Show I WHERE DO OTHERS I CiEJNI DEAL? East Believes Anaconda Will Absorb U(;ili Copper and Nevada Con. H DOESN'T LOOK LIKE ENOUGH STOCK LEFT Butte Mines Nearly Monopolize the Increased Issue of the Anaconda. New York papers believe that the big copper merger is going to bo put through successfully. Involving tlio Butlo, Utah and Nevada properties of prominence, and that the Anaconda company will be the holding company for tbo bunch. The ' Anaconda recently Increased Its capital stock to 6.000.000 shares for the purpose of accumulating the majority of tho big But to producers, the basis of oxchnnge being that companies absorbed will receive in new Anaconda atock as fol- Shares. Boston and Montana 1,'JOO.OOO Butto and Boston UOO.000 Woshoc 3SO.000 Trenton 120.000 Big- Blackfoot Lumber company. 300.000 Parrot 90.000 Diamond Coal and Coke 100.000 Bed Metal Mining company 500.000 Alice Gold and Sliver Mining company 30,000 Original Anaconda I.L'00,000 Grand total 4.220.000 tt'hat the west would like to know Is. if the Anaconda tool. -1.220.000 shares of Its new issue of 0.000.000 for Butte, how can it expect to gather In the Guggcn-helm Guggcn-helm Consolidated proposition with iho measly 1.7S0.O00 shares of treasury stock left to go on? Tho following from the Boston News Bureau raises this nues-tion nues-tion in the west: "Copper Interests identified with the proposed merger Insist that plans for a great consolidation have not been aband--oned, they arc simply held In abcy-ance. abcy-ance. They point to the merger of the Gucgenheim properties and Butte mines as proof that some progress has bi'on made, notwithstanding adverse Icglsla-tlon, Icglsla-tlon, With the Amalgamated and Gug-genheim Gug-genheim properties merged, a greater j consolidation they say is simplified. "If the trade is put through. Morgan and Rockefeller interests will mnnage It. "While the Interests identified with the proposed merger state that it is not In-tended In-tended to curtail production. II would be strange If a general concentration of the largo copper companies of this fcouiitrv was followed by a continued in-crease in-crease in production and the piling up of stocks in the face of the fact that consumption was exceeding output. "Independent copper Interests feel cer- tain that tho coming together of several of the larce copper groups means the ultimate regulation of output. Tn other words, the policy df the United States Steel corporation to produce only enough-Meel enough-Meel to satisfy the wants of the coun-try coun-try without adding to slocks will be adopted." "If the promoters of the greater cop-per cop-per combination desire to secure control of the Utah Copper company the oul-standing oul-standing Nevada Consolidated stock will not prove an obstruction. The large holders of Nevada shares have all cx-pressed cx-pressed their willingness to deal with the group of financiers and mine owners supposed to be , back of the proposed mei-ger. In other words, they will sell nut their slock If the price offered is satisfactory "Tho general impression is that the Nevada Consolidated Copper company. Utah Copper company, Butte Coalition. Amalgamated and Its subsidiaries and tho Cole-Ryan properties will, in time, be absorbed by the Anaconda. That is, if such a merger can bo brought about V without, violating federal laws." |