Show M MINING I N I f N G News the Quotations Camps From and All on STOCKS S T OC KS Prices With From the Leading La es MA I R RK K j I COPPER MERGER AS VIEWED BY IA LARGE UTAH SHAREHOLDER A large shareholder in Utah Copper who vho ho has given hen careful perusal to the statement o of James Phillips Jr published pub pub- pubis is ed in the Boston News Bureau says Mr Ir Phillips and myself are strangely strange strange- ly enough non h in accord though for 4 Tic opposite l opposite reasons Mr Phillips docs Ms not ot t want tnt nt tho Nevada la shareholders turn to their stock in because he thinks 1 J is better than Utah Cop Cop- fa Ido do not want the Nevada shareholders share hare r holders l to turn their stock in for 1 I fJ think Utah Copper is js the better of the t Mr I r. r Phillips and his frit friends are not Jot trailed alTed upon to vote Utah stock which do not Dot own on tho the question of pur pur- x 1 8 1 Boston Consolidated by the r Copper I am called jt- jt opper company as as' a Utah shareholder to decide J shall voto volo my Utah stock on t that at As Alf a Utah stockholder I am going I 1 1 voto my stock stork in fat r r o of the Boston Roston because I IV acquisition V it jt is in tho interest of Utah Coper Cop Cop- it tuI Fr er to lb buy Now INow it requires a two thirds vote f r the Utah shareholders to increase I r capital stock and over pr third one oE the Utah stork stolk is held by hy tho the Gugg Gug Gug- v g and allied interests They requested tho Utah Copper I management to make an offer the ac ac- by Jw the N Nevada e ada shareholders being g optional to give them one share of Utah for each two and one fourth I shares of K Nevada evada which they car care to turned in The Utah management agreed t to this after a IoU full discussion of th the merits ments of the proposition because J an an interest like the Guggenheims which was was' large in both companies requested it The Tho net result i of all this is that at the flu Ih meeting next week weck when the Utah Copper company compan increases s its capital it will till be bo able to take in Boston ton Consolidated Consolidated Consoli- Consoli dated elated a contiguous property as each aeh of or those two t Propositions as as' as represented IJ by its shareholders wishes to be con consol consol- sol dalel lat The Utah Copper Copp r management o. o ld not bo be attacked by Mr Phillips fit or r any other Nevada Neada people for its offer S is S purely a voluntary one There is no cri criticism of Mr 11 Phi Phillips lips for telling Ne Ne- S. S yada vada ada people not to turn in their stock iJ if he be is not going his in jn There may IMay be some flome criticism of many of the tho which ho has made but I am amnot amnot not discussing that at the present time Suffice e say that as one keenly in in- in jn Utah Copper I sincerely hope to see Bee the absorption of Boston Consolidated by Utah on th tha basis hasis agreed and I T should be very glad if no Nevada Consolidated stock stork is tendered to tIle the Utah Copper company under the tho S voluntary offer already made It will only require thirty days das to determine the tile ill feeling which has thus been engendered engendered en n gendered an and each property ill will be bo able to go ahead and work out its own sal sal- Guggenheim Statement Daniel aniel Guggenheim has issued the tho following statement 1 S Referring to the matter of the cx- cx c iange of the stock stocIe of the Nevada Consolidated Consolidated Con Con- Copper company for stock of the he Utah Copper company company we desire to say that when negotiations were begun looking to an exchange of the stock stoc the whole hole matter was referred to em eminent nent mining engineers for a thorough exams exams- These gentlemen finally united in ina a a. recommendation that a an n exchange of or tho the stock on the basis one of-one share of Utah for two and one fourth shares of of the N Nevada eada company was just and fair fall Tn In addition to this investigation we personally lH tho matter mattel most careful and thorough consideration and we e ell ll reached ached tho the conclusion that the proposed basis of exchange e was as fair and that tho the exchange would result in benefit to both companies and and notwithstanding the tho various statements that havo have been made madewe we yo are aro still of the same opinion S We then entered into an agreement with the Utah company for the exchange ex ox- change Of between and shares of the stock of the Nevada com corn any pany When the tho negotiations first begun wo we insisted that all the stockholders ers erg of the Nevada company no matter how small their holdings might be bt should have exactly the same terms and rights lights as were gwen given to us us and that they y should hare havo ample time in which I to 10 mako make up their minds as to whether or 01 not they would make t the exchange This was assented to by br the Utah taU company and is is fully provided for inS in'S in S 'S tIle the agreement executed by us After this agreement is ratified the shareholders share shareS holders rs of the Utah company com will make the lisa shareholders of the Nevada Ke da company im un offer for exchange of their stock on the tho same terms and conditions condition as ag as are ro contained in tho the agreement m made de with S us us an and the shareholders of the Nevada Neada NevadaS S then have the opportunity of determining for themselves whether S trey they will make the exchange |