OCR Text |
Show CALUMET &. HECLA CONSOLIDATION IN COURT Detroit, Mich.. April 12. Tho proposed pro-posed consolidation of the Calumet & Hecla Mining company, with nine other oth-er copper mining companies, came' up before United States District Judge Swan In chnmbers here today Arguments were made on the petition peti-tion of G. M Hyams of New York, a minority stockholder of tho Osceola Mining company, for a temporary Injunction In-junction to prevent the consolidation, and counsel for Hyams presented affidavits affi-davits in reply to the answer filed here, two wetkv ago by -counicl for tho -majority imprests. in tho companies. com-panies. The affidavits filed today declare de-clare that the vnlue of $42,000,000 assigned as-signed to the Calumet & Hecla properties prop-erties In the consolidation Is excessive exces-sive and that this Is shown by sworn testimony given by Prosldent Aggas-bIs Aggas-bIs and General Manager McNaughton of the Calumet & Hecla In the Blge-low Blge-low case nt Grand Rapids four years ago It is alleged they then testified that the Calumet & Hecla mines had a lifo of 10 to 15 jears, while now It Is claimed the mines still have a life of 15 to 1C years. |