Salt Lake Tribune | 1918-11-24 | Page 31 | Utah-Apex may be in Merger, Report

UTAH- APEX I BE 1 mm report Tha stock of the Utah-Apex Mining company lias bec-n the star performer in the nilninp group on the lotal e.chanpe of late, says the Boston News Bureau. On transactions involving over 7300 shares Monday it broke into a new hicrh of 4, this uu tat Ion representing a price Appreciation from the low of the year of lj. marie loss than five months azo. Ctali-Apex in t'u past few months has become pretty much entaiiRled in 1 i li tra-tion. tra-tion. Tlie company was recently sued by Utah Consolidated, rhiiming $.".00,000 fur tho illegal extraction of ore from vein? that apexed. tn the . latl cr'.i properly ; Uieh-Apex then turned around and sued l.'taii Consolidated for $1.77.0,000 on the same grounds. Ior a year past one of Utah-Apex's bank balances ban ben attached for .$0,w0 by the Utah Lead & Copper compa ny. This lal. litigation, lionovpr. is n lion t to be Kf-ttld. After -vfraI ofb-rs .'Mid count er-nffers t lie I'tnh-Apex 11 1:1 n:t cement ce-ment lias Fignififd its desire to ri v ihe bill and clean up 0110 suit at least, before jroin boforf sto'-kholders at their annuo an-nuo meeting. While as yet nolhlne definite has been agreed upon, it is understoixl tho Utah-Apex Utah-Apex and Utah Consolidated people nre considering plans fr ; the consolidation ot thceo two prop A -tea. An informal conference was recently held in Iew York between an official of the lUan-ApeK lUan-ApeK company and representative of Utah Consolidated, nt whicli each side set forth its views in seneral, but no menlion was made, of specific price or terms of consolidation. . There is this much to be said. However How-ever the Utah Consolloated management will not treat with, Utali-pex unless tho latter can assure It that a. larce majority ma-jority of Utah-Apex stockholders are Willing to enter a merger. There .'je 528. OuO snares of I tah-Apex stock outstanding and it is believed that before Utah Consolidated would consent to enter into a discussion of price fully 75 per cent of this amount of stock would have to be controlled by the Utah-Ape. is not improbable that an early settlement set-tlement of this litigation will he effected, and it is not at all Improbable that recent re-cent buying nas been for the. account of the present mamftement. who desire a sizeable majority before sitting down to a "peace conference." Utah-Apex stockholders hold their annual an-nual meeting Thursday next.