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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jul 27, 1909
Page
5
A largely listless market shows prices a bit off across commodities and stocks. Reported declines come amid mixed activity in steel, copper, coal and textile shares while traders await notable action from Morgan pool and tariff discussions.
Reading of a chaotic financial update shows North Butte Mining pursuing a deal involving Granite Stoneman Creasy and Lewisolms, with buyers including New York Commercial and Dan Daniels offices. Contested claims from Devonshire and Montinionealidated Upper company highlight complex ownership and potential stock movements.
Readers of The Daily News see continued debate over Mr Heinze's role in the Ohio Copper and related mining ventures. Officials describe his stake as limited to 50,000 shares plus bonds, with control shifting through the Bingham Development firm and Mascotte tunnel arrangements. The article details ore transport terms, tunnel operations, and potential impact on Ohio Copper’s ability to move ore, warning that denial of tunnel access could force expensive alternatives and disrupt planned production.
A summary of rising unease among Davis-Daly stockholders regarding Heinze and his ties with Ohio Copper. Reports from Butte indicate a planned move to force Heinze from the presidency, with critics arguing his controversies hurt stock value while supporters claim his stance preserves control against Amalgamated Copper.
Chicago markets faced broad weakness with wheat trading around 2.00 to 3.60 and September near 2.00 to 3.00 amid heavy receipts and renewed selling. Corn declined toward the day’s low, oats weakened, and provisions closed lower while cattle and hogs showed mixed results on the week’s activity.
Money markets show bankers bills steady with bids near 24 24 percent for short terms. Rates for government and railroad bonds steady as money remains easy. silver and Mexican items quoted, with 6 day and 6 month loan terms noted. Brady's at 8370 South Main Street advertised for financial services.
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