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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Aug 04, 1917
Page
14
Holiday trading yields dull activity on eastern exchanges with broad rumors over government copper price talks and industrial company settlement terms. Bulls eye steel and copper gains as expectations of tariffs, dividends, and a fall market rally buoy sentiment amid uncertain government price fixes and war related demand.
Chicago markets report mixed moves with corn unsettled by unfavorable Southwest crop trends while wheat weakens and oats drop. Reports of spring crop hope and border weather offer cautious bearish and bullish signals. prices for grains and livestock shift as traders react to receipts and demand.
Stockholders of the old Giroux Consolidated Mines may see increased earnings as Consolidated Coppermines expands. The mill now handles 400 to 509 tons daily with ore averaging 1.7 percent copper and around one percent extraction. Sulphide recoveries have improved, and up to July shipments of concentrates to the New Consolidated smelter totaled about 35 cars, performing above one percent. Underground work continues with new ore bodies and ongoing development.
Washington reports a massive war program driving crude and derivatives demand and a projected shortage exceeding 120 million barrels. Navy data suggest production may fall unless Mexican field output rises or naval reserves are tapped, prompting the defense council to push strict conservation even with reserve use.
Richard Daxon of Wallace spoke enthusiastically about the Tarbox property on the Montana side of Coeur d'Alene. He said profits are rising, with plans for extensive development, deeper ore, and new plant upgrades including flotation and concentrator by year end. He noted the Bunker Hill mine, depth milestones, and the district’s potential while praising the area’s beauty and American settlers amid forest-fire concerns.
broad market shows higher prices with gains in steel and war value shares led by tobacco and leather issues. Newer tobacco stocks surge as Americar gains. Liggett & Myers up amid strong profit taking. Transportation notes St Paul up 1 Soo preferred 3. coppers and motors dull. Market closes firm. total volume 425000. bonds irregular Libe Bien wide at 9.3 percent.
Washington reports June 20 national bank resources totaling 16.151 billion dollars, up 2.324 billion from 1916. Deposits reach 12.770 billion, up 1.918 billion during the year, with a 38 million dip from May 1. Liberty Loan financing noted. Stocks discussion cites biblical punishment terms for stocks in authorized text.
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