Show NEVADA NADA CON MERGER WIT UJ AU COPPER us liAS BEEN SETTLED Forecasts have ha been made mado foi fot fol some sometime time into past by those who were familiar with wih conditions that there would be littIe little lit lit- lt- lt tIe tle te or no opposition to to the lie merger of Nevada Ne ada Consolidated with ih tho the enlarged Utah Ulah Copper company Despite Despie lie re repeated re- re opposition of at President Phillips he was alone atone when whIm the voto yoto was taken by iy bythe bythe the Nevada Consolidated directors on the tha proposal made by the lie Utah Copper company COn COn- com coni- pany patsy at the th meeting held hell during the early part of the weel Every l ery director wa was present and even Smith anti and Kuhn who had opposed the tI ic merger voted with wih the other directors in confirming the tie agre agreement to enter Into the tion ton Engineers who have made a a close cose study of oC the situation know knott wel well the Else splendid earning power of Utah Copper and fur- fur It Is Imo known n that an In effort efort was made a couple of ot years jears ars ago to get D. D C. C to take the management of that list vast estate estat which he lie refused to do while he tie hl was as aligned with lh the Mac Penrose-Mac- llac Neill NCI interests In c commenting on the tho Nevada Consolidated merger the tue News Bureau says Pope Yeatman Yeaman consulting engineer er of the Ne a Nevada a Consolidated Copper com company 01 pany palsy has a a. report on tho the matter mat mat- ter of merging with a the Utah Ufah Copper company in which wih he lie advises ad stockholders to exchange 11 ers s of the former corporation their shames for those of of- of the Utah Ulah company company com coni- pany on un the ibis basis of two and one omme ter tel Nevada for one of oC Utah W. W K N. Bennett Bennet secretary of the Nevada Novada Ne No- vada will shortly send to io o the time compan company's os stockholders wl Mr Yeatman Yeatman's s report as well I as the offer 01 of the tho Utah company The stockholders have until Mat March larch 5 to make mak the tie exchange and if It affected affeCted before this date late will wi have the privilege as Utah stockholders to subscribe sub scribe to one share of oC new nosY Utah stock tok for or each ten shares sharIs held at t 50 10 pet per Pe share claire 20 JO O will wi be he payable March larch 5 15 April Aprill 1 and amid 15 May 2 Mr Bennett's Bennetts ts t's notification concludes Your attention is particularly called to toI I the he fact that tho the offer of ot the Utah company company com corn pany is made maIe to each Ach stockholder stoc Individually Indi and that tha t It is is- entirely optional with wih each Iah stockholder to accept or 01 reject the offer ll The report of Mr Yeatman says sas I I 1 strongly advise the 11 stockholders of ot the thE Nevada NI ada Consolidated Copper company to accept the offer of the Utah Copper corn com pan pany My chief reason for OL making rp recommendation 11 is that I believe that after two years during which time tie the concentrator of the Utah company is to tobe ho he increased from tons ton to tons daily and ad the Boston concentrate concentrate- front from 2750 tons to tons per er day ay and necessary envy sary advance ing of overburden en enand and railway improvements s made ta to in insure I- I sure sur delivery del N of r such uch rueh II increased tonnage for fot the plants tho ho annual ar profits to ba be distributed per pet share har of or N Nevada Vda Consolidated Consol Consol- Consoli will be materially materially mate mat dated stock stok exchanged exchange i very ory greater Ihan than would be lie the case if it the stockholders retained their Nevada stock toJ and upon uren Consolidated depended the profits of that and amid ald that these increased td earnings will i extend over overa a much greater grealer p ported period of time This mull takes into consideration raton an tin Increase in increase in- in crease of the Utah company's capitalization Lion tion to shares with a par pat value alue lon of ot 10 per shale T ThA division of the stock proposed Is In follows us-follows Boston Consolidated basis bals 2 3 2 to 1 5 N Nevada ada Consolidated basis H 1 to o 1 i. c SS Utah Copper com company a T To c Ito Pon er pro 2 t-a t J for 0 subscription sub sub- I Issued tf capital capital capital- 2 1 am ant informed that that the tt has ma made e the thc exchange with willi the tle Loston Doston company and now owns that property 1 have kept lpt closely in tou touch h with wih the havi roly operations of oC the th Utah company for lor the thelast thelast last three thre y years ar during two years of which I made madE frequent aud n Inspections in inspections In- In of the property property- My assistants and mys myself have gone unc very ery carefully over overlie o Cr the lie assay maps of the t Utah company P considered sl l lf their t ot in the past amici and probable future costs and proms profits the physical and amid tech ical 31 conditions condition assay aspay values and tonnage de and anti p possible pos s- s sible have considered the Boston company's corn com pany's any conditions s an amil compare 1 both hoth of ot the thc Nevada the above ahO 1 with Nevada Consolidated hoUi 3 including mines m. mins smelter and railway and After an exhaustive l consideration of ofal all these matters mater including a comparison al of the earnings Of the tim Nevada Nevada Consolidated Consol Consol- Consoli dated with tho the carn car ings s of at th the other two companies and with those of the three in case the Utah Utan company compan shall hl acquire cale the tho stock or a portion thereof of tho the Nevada company I am clearly cearly of the opinion that tho the proposed exchange of oC Nevada company's shares hares for those thos of the Utah company will wi be most advantageous an ad to those Nevada Consolidated stockholders stockholder terms lerms proposed making exchange on Use the I I |