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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jan 12, 1916
Page
10
Directors consider shutting the Tuolumne mine due to profits dipping below expenses and dwindling ore reserves. Despite a $95,000 loan and higher copper prices, transportation and processing costs erode returns, with insiders selling stock while larger firms may take over at low prices. march stockholder meeting to decide future.
The market fell as stop loss orders pushed prices lower amid weakness in steel and copper. Butte & Superior tumbled despite a dividend read, while New York trading showed declines in Anaconda, Utah Copper, and China. Investors remained cautious with war worries and liquidation of war stocks.
Partial list shows numerous stock orders and confirmations across Montana places and mines including Butte, Rocker de Boy, Caledonia, Highland Surprise, Snowstorm, Keating Gold, and Mount Butte. Names Davis Daly, Tuolumne, and Union lines appear among bids and sells with prices and quantities referenced in a chaotic ledger style.
Report from Helena district detailing booming activity at the Shannon mine owned by Barnes-King, with Beratch Gravel Co. expected to pay monthly dividends and high ore values. Brokers in Butte and Helena reported strong buying interest with shares offered around 89, while ore yields and development prospects at Beratch and adjacent properties drew attention from experienced miners and investors.
Montana oil and gas stocks draw interest across Butte Billings Great Falls and other cities. Flathead Petroleum rose from 7 to 19 cents with treasury at 2 cents. Greenbull Montana and National Os trades shown with varied prices, while Montana Canadian and Basin O L districts attract speculation amid a growing energy push.
Governor Whitman demanded the resignation of John B Riley, New York State Superintendent of Prisons, after Riley ordered the transfer of sixty six prisoners from Sing Sing to Clinton Prison. The move involved many inmates active in the Mutual Welfare League. A Florida woman offered the paper editor one dollar for a poem about the town goat, but the editor declined to publish his autobiography in verse.
Helena January 11 Special Dispatch reports James Breen owner of the Porphyry Dyke mine in Rimini country extended the bond for a year to Anaconda Copper Mining Co. Anaconda holds the bond after months of exploration and mill tests. Prospective purchasers will conduct thorough examinations before final decision. Engineers’ reviews were favorable and tests of ore bodies and values were satisfactory. Developments next year will be on a larger scale with a sizable labor force anticipated.
Following Gov Whitman orders for resignation of John B. Riley as Superintendent of Prisons in New York, William A. Orr, the governor's secretary, was rumored to be appointed to the $6 000 position.
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