Show M I N I N G THE QUOTATIONS NEWS CAMPS FROM AND ALL ON STO- STO S T 0 C. C C KS K S WITH Nit FRO FROM PRICES M THE FLASHED LEADING LEDING LATEST LATET MARKET M A INSPIRATION CON STARTS OUT WITH 5 BG J fhe The board r I-r of ot directors of or the Insh fj lion I I Consolidated Cop Copper po is Ic one one lor strength h an and malks the cn cn- cn tl rC Into tho Iho copper mining field of or several important not heretofore names 4 prominently co connected with the copper copperS S Industry tr Directors William E. E Corey and LJ F. C C. COn Convie are In the United States Stales Steel corporation or loll Wit Wit- Ham B. B Thompson pi pt evident of or lion Consolidated and m V V. D. D Thornton vie Ice president and president Greene Consolidated are widely h known as s copper cop cop- per men Director John F. F Alvord hord I Is 1 president of oC the tie e Torrington company of ut S Conno Connecticut And representing Amalga Amalgamated i mated interests nrc John D. D Ryan Thomas 1 F. F Cole Colo and William G. G Rocke feller friter Charles A A. A Corliss Is a A. partner of ot Lament Corliss Co identified with tho tim Morgan interests Philip I 1 Foster Fostir I Is president of or th the th London Exploration company Hent Henry H. H land lIo i Is president of oC Live 0 Oak Charles Charlei 71 IL Sl Sahin Ice ce president of ot the thc Guaranty Trust nat company compan I is II a a. newcomer in th copper a. a as well as asbert Al Albert 1 bert H. H T Wiggin I president of ot tho the Chao ChaM National bank Eugene Meyer Jr Is known circles sas sa's Boston Bos Well selI In copper s. s says says- ton News Bureau The Inspiration Consolidated Copper opper company represents flent a proposed d merger of or th The Inspiration and fwd Live Oak Copper Clipper companies It Js Is Incorporated under I ln laws s 's with Ith an authorized capital of oC divided into 15 shares share par pr r value 20 20 Holders May Ma Exchange Pre Present ent Inspiration shareholders fOK may f exchange chang for new full futi paid stock in th the ratio of or two to old shar shans for one new hare re and LIv LI Oak Oai shareholders may ex exchange change In th the ratio of or one old oM share for two t n new the Cx exchanges es to Jo be bp made male on onor onor onor or before January 2 21 Th Guaranty Trust Truit company of nf NeWYork New NewYork ew York and Kidder Peabody Co Boston will m purchase at nt 10 10 and 40 pc per share hl l' l respectively b such fluch shares har lI of Inspiration I sno rind Live LI Oak as do not desire desira to ex exchange ex- ex change for the ne new Consolidated shares Tho Guaranty Trust TruIt company antI and Kid Kid- der I Peabody II Co are also IIO authorized to t receive certificates of the thc present In Inspiration In- In and ThA TAva Oak Oai companies for ex- ex change chang at the above aho mentioned ratios ratio No 0 fractional shares ha s will h he h. issued but the depositaries will pa pay 10 In cash ash for foran stock de de- le an any odd shares of or Inspiration poP poP-it posited cd Temporary stock certifIcates will be if beu sued issued d. d About Bond Issue Stockholders of or the Consolidated company com corn pany pl of or r record February I 1 al sic aio I also abo ifS of offered of- of S ed ct-ed the privilege up to and including ln rata for fou Mardi March 1 I. to subscribe pro ten y ten ear ar 6 G per cent coo convertible coupon con cou Poll pon bonds bonde at al par par Bonds will be he e 5 in tn multiples of and and will willbo bo hn fl payable in four equal installments on March farch 1 1212 September 1 1912 1 iniS and September 1 1 1913 The n new nW hon honda bonds 8 will bo be fn Into i S Con Consolidated stock clock at al 25 and red redeemable All Alt th the th required to lo effectuate the offer and also alo tile bond Issue have hA ceo been etl at p par r h by responsible sible parties The transfer agents l ar arthe are the Gu Guaranty rant Tru Trust l company compan of oC New NewYork ew York Tork and lanci Old Colony Colon Tru Trust t company compan t Boston Registrars are ars the tile Bankers Bankers' Bankers'S S Trust company of or New Nc York and Nation Nation- 5 S tV Shawmut bank of or Boston The rhe company wilt will proceed immediately with the tho erection of a R. on plant of not less isse thin than 00 tons tone capacity to treat Inspiration and I Live 0 Oak ores It I Is contemplated that not not- O over OI I heres s will be r required to accomplish h this And rid provide pro for tor the above exchange of ot shares hares and conversion of ot bon bonds s. s Eng ers Pine Flue B Basis The basis buil of exchange Is th the result of at conferences conference te n engineers W W. H. H T. T and end Henry Hem representing the Inspiration Copper company n and end H. H B. B Hovland and antI M. M E IX McCarthy representing representing Live LI Oak The They una unanimously recommend the acceptance of ot the terms of or consolidation atlon b by present shareholders They report Inspiration ratIon ore TeS reserves les at t 3 l tons ton assaying per c cent nl copper copper- and I Live lv Oak reserve at Itt eo 04 tons ton assaying assayIng- Il per c cent nt copper or orL a. a total of tons Ions These Thep experts state lalo that t Inspiration t lias u In cash and Ilvo Ih and It was wal agreed that on on the th pr present Issued laruM capital stock on one share phAre o of Live Oak Ook is ill equivalent In III n value to four tour shares of In InspiratIon and ande we e ree recommend that the Inspiration and lAva Oak properties be consolidated on basis bula saId Bald consolidation will b be of great mutual advantage and tho terms arc fair At the present time Inspiration has has' S snares shares outstanding an and J Live LiveOak Oak shares out outstanding Great real pro progress has already b been n ninde with respect to the plant and nd other details de tIe- tails tans for the erection of oC th the new ne' mill It t t is that within eighteen concentrator will bo bJ months month tho the new nc treating ore arc and that when capacity c is III brought up to SOO tons of or oro ore p per r dAthe day the annual pro production will iII he ho not ilot less ESS than n pounds of copp copper r. r An Alt estimated operating cost oel o II l cents p l' yer r p pound ud of copper I is ii conservative al although al- al though In actual operation this will be hp heS S materially improved upon but assuming this cost and nd ft n. cent copper market there will m result profits Ii of or 4 or oi a it aS S little b better tt r than Ulan 4 per share |