OCR Text |
Show GILA COPPER TWIN TO THE ELY COMPANY Salt Lake, June 6. Local circles were very much interested Saturday in the initial quotations which came from the Eastern markets on the stock of the Gila Copper company. The Gila Copper company is another Arizona proposition which promises to make some honorable history for that state and for its sponsors, who, by the way. are the same as those who have brought forward the Ray Consolidated Copper company, and, what' is still better, the Utah Copper company of Bingham. In other words, the Gila is the twin brother of the Ray Consolidated Copper company, which property it joins, with the Ja'ckling-MacNeill-Pcnrose Interests In the saddle. sad-dle. The Gila company was organized under un-der the laws of Maine in 1907, and the capitalization is $10,000,000. It is understood un-derstood that 550 000 shares are now outstanding, and that tbe present stockholders of record will be offered the opportunity of ta,klng their share 55.000 additional shares of stock, which have been or will be offered soon. The company has been operating operat-ing with churn drills on this territory, as has been tho case with the Ray Consolidated, but as far as the West is concerned, but little in formation has been allowed to get out In regard lo the proposition. The property holds the same deposit of low-grade copper ore in monzonltc in the Ray Consolidated. |