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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Dec 29, 1914
Page
10
Stock market activity opened with optimism as Amalgamated copper and other shares showed gains. Copper and steel issues advanced while railroad stocks strengthened. wheat and grain markets exhibited buoyant conditions with strong demand and expected further investments amid unsettled weather and policy signals.
In New York on December 28 a decree by Judge Hand directs the sale of all assets held by John Claffin in the insolvent Claffin company on January 14. It is likely Mercantile Stores, successor to H P Claffin, will purchase the property to implement a reorganization plan. Creditors would receive cash and notes in the reorganized firm.
Customers swarm the Racket store at 120 West Park where items are advertised as low as a dollar versus two dollars elsewhere. The terse storefront claim highlights unusually cheap prices fueling shopper interest.
The North Butte mining concern reports over two hundred thousand dollars spent sinking the Granite Mountain shaft and linking it with the mine as the company moves toward paying a 50 cent per share dividend. Secretary Kennedy notes more than $220,000 sunk in development through December 1, including the new Granite Mountain hoist and shafthouse equipment costing about $222,658, with final payment of $23,000 pending testing and guarantees.
A noted wheat market speculator, well known in Chicago, absorbs large holders as December market activity intensifies. The heavy trading bets signal rising interest from major players in the grain sector.
North Butte and East Butte merger talks surface amid proximity of assets and a new mineral land acquisition by North Butte near East Butte. A Boston inquiry finds no basis for purchase talks. Pursegrove-Mahrer notices warn Ohio miners to plan housing rents after January 1. Copper and lead prices noted in New York trading.
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