The Arizona Sentinel

Consolidated Copper Companies:
The organization of a three-million-dollar corporation and the taking over of the three copper companies operating in the La Posa mining district, Cabeza Prieta Mountains, was an event of great importance to Yuma.
The new company, which is incorporated under the Arizona laws, has absorbed the Hecla Mining Company, California-Arizona Copper Company, and the Mohawk Copper Company under the same management.
The merger is planned to secure greater economy in the mining, sampling and reduction of the ores, also to avoid the necessity of an expensive system of accounting, and of sampling and adjusting differences of values of the ores of the several companies.
The logical solution of the ore reduction problem, and the one that has been agreed upon, is the erection of a centrally located plant equally distant from each property, and it can be readily seen that three individual and distinct companies reducing their ores in individual plants would be at a much greater expense to each, to say nothing of the complications naturally arising, all of which the merger will overcome.
Then, too, all the properties are so dependent upon their neighbors that should the controlling interest of any one become unfriendly to that of the others, it would be a matter of very serious concern to the stockholders.
The new company is to be known as The Hecla Consolidated Mines Company, with a capital stock of 300,000 shares of a par value of ten dollars per share. Fifty thousand shares will be placed in the treasury of the company, and the remaining 250,000 shares divided pro rata among the stockholders of the old companies, at the ratio of one share of new stock for six shares in either of the present companies.
Twenty thousand shares of the treasury stock of the consolidated company will be sold for the purpose of erecting the reduction plant; 10,000 of these have already been underwritten at $2.50 per share net to the company.