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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jun 08, 1915
Page
12
Copper prices and metal stocks rally as demand stays brisk and war developments boost European purchases. Greene-Cananea climbs from 32 to 37.34 while Amalgamated and other majors show varied gains and steady support from analysts forecasting higher prices ahead.
The directors of the Quincy Mining Company declare a higher quarterly dividend. Previous payout was 50 cents six months ago. the present dividend is set at one dollar. Dividend payable June 28 to stock of record June 5.
The Butte and Ely company held its annual meeting in Butte yesterday electing directors Joseph T. M. Cotton Edward J. Maney John W. Neukom Duluth John D. Pope and Harry A. Holp Butte. Officers chosen include President Joseph B. Cotton Vice President John D. Pope Treasurer Edward J. Maney Secretary and Assistant Treasurer John W. Neukom Assistant Secretary Harry A. Hol. Discussion focused on Nevada Consolidated gaining on nearby ore bodies. a potential contract to handle Butte and Ely ores by Nevada Consolidated may arise by summer with talks on coordinating ore processing and transfer.
News from New York reports that share votes representing about 1.16747 of 1.58 million outstanding Amalgamated Copper shares confirm dissolution. Many holders did not vote, and directors will proceed with the plan while trading and share exchanges prepare new Anaconda stock. John D. Ryan says dissolution steps start immediately, with final exchange listing pending.
Ahmeek has declared a dividend of 16. The previous dividend was paid in April 1915. The company’s dividend record includes a 1.00 payout. the current declaration makes Ahmeek dividend payable July 1 to stockholders of record June.
Dividends this year total about 21 million dollars paid to mining stockholders. Copper company leadership changes noted as Joan D. Ryan becomes president of Anaconda Copper, succeeding B. De Thayer. Copper prices and metal exchange activity show a quiet market. cattle and sheep receipts and prices appear mixed with standard commodity quotes.
The June 7 market drew mixed gains amid renewed manipulation fears in war and motor speculations. General Electric rose to 18, GM hit a new high at 13 and Bethlehem Steel climbed late, while Canadian Pacific slid to 14 amid unsettled sentiment. Canadian Pacific rumors and Amsterdam account activity added to volatility, with Amalgamated and others showing pockets of strength. Bond prices steadied with US government issues unchanged. wheat futures and barley also listed with modest pricing.
The United Verde paid its third dividend this year with five total dividends per share amounting to 5.5 dollars. Probate proceedings in the Surrogate Court revealed a will dividing the estate between Elbert Hubbard II and Miriam Hubbard amid other children. East Aurora assets and substantial life policies are noted while a Knights Honor lodge faces insolvency with large liabilities and an insurance audit cited. Morley and Thomas Co advertise workmen’s compensation insurance services.
Granby Consolidated settles floating debt by issuing 2,000,000 par stock for bond subscription. Shareholders may take par value. underwriters White, Weld & Co. handle leftovers. Directors may declare dividends at June 15 or earlier. May output from Annox smelter exceeds 2,000,000 pounds copper without factoring fuel, boosting Hidden Creek copper yield. Lead prices rise amid market shifts, with recent bids and asks showing higher demand. News boosts mining districts in Rocks Mountain and Coeur d’Alene county as operations trend upward.
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