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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Dec 29, 1920
Page
10
Wheat closed unsettled with slight declines as bears pressured prices on December 28 in Chicago. March futures at around 1.62, May near 1.60, oats steady to down, corn mixed, hog prices weak, and butter futures higher as traders weighed export prospects and an uncertain economic outlook.
Chicago reports cattle receipts of 15 000 with no early beef sales and steady to higher quotes on cows and bulls. Hog bids ease but top cattle and sheep values hold, with 12 000 hogs and 16 000 sheep noted. Spokane and South St Paul list steady to firmer tones on hogs, lambs, and cattle as demand remains active in bulk price ranges.
On December 28 the New York Stock Exchange showed a mixed close with many issues sinking to yearly or longer lows amid dividend suspensions rail and steel job cuts and looming readjustments in the motion picture industry. Rails remained firmer while several transports rose on November earnings. bond market improved with railroad converts strong.
Heilbronner Market Review notes Anaconda Copper did not fall after the dividend was passed, trading near 31½ then 30. United States Smelting declared a quarterly 30 cent dividend. The market showed steadiness in leaders, with some specialties and miners moving, while call money held at 7 percent and sterling at 3.50.
The city council will consider disposing of 600000 refunding bonds at the next meeting on December 40. A bid offered an illegal interest rate, with terms unclear and the mayor hopeful for a prompt sale. The warrants may be converted into bonded debt with the same rate of interest.
The Interstate Commerce Commission urged immediate payment of amounts due under the guaranty provision, saying swift payment is vital to cover operating expenses and obligations. It suggested allowing reasonable estimates for deferred overcharge, loss, and damage claims when agreed by carriers to finalize settlements.
Reports from the Neihart district show limited activity with a hoist idle awaiting a transformer and a planned crosscut from the 200 level to tap a vein east of the Florence vein. Utah-Apex Mining details tell of resumed ore production, new equipment, and ongoing lead zinc separation research, with forecasted mill reorganization and December operation. A Mexico mining summary by Kirby Thomas notes American investments surpassing one billion dollars in 1907 data, contrasting Mexican investment levels and global bread consumption.
Government officials face tighter scrutiny of travel on public funds as Comptroller Walter Warwick pushes centralized auditing to stop what is described as treasury leakage. The new system consolidates transport audits under a transportation board, limiting nonurgent travel and tightening allowances across departments.
Report from Redding California claims four prospectors led by George Hien Del Taylor George West Mind George Bryner found the long sought Lost Mine high up Squaw Creek Copper City area. They bring out ore and rusty tools hinting abandonment in haste dating back to early 19th century with Indians massacres and river drownings linked in lore.
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