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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 22, 1915
Page
12
Rumors of a Kendall mining rights dispute touched Barnes King stock which fell from 2.90 to around 2.03 while officials insisted no public statement would be made. President Goodale and Gir Pinch of Kendall downplayed hostilities, stressing legal clarity and friendly ties between the firms.
Northern Montana oil prospects praised by Clift and Bollong after inspections. Several fields report deep wells and active drilling by Wine Trosove Development and Northern Oil Company with rigs readied and plans laid for additional wells. Experts urge caution in buying stock in unknown or speculative outfits amid optimism in the Forthe and Butte oil districts.
Hecla Mining issues dividend payments totaling 82 000 to stockholders in the holding company structure. The distribution flags a steady return to investors and reflects ongoing earnings during the period.
A Wallace office report shows dividends paid in 1915 totaling 3.26 million dollars, with the year’s receipts continuing to climb. The figures include Idaho distributions and a breakdown of payments reaching the current date.
The Jack Waite Mining Company plans extensive operations for the coming season. A contract with Big Chris to complete a tunnel project connects a lower 3,000 foot tunnel to an upper 1,800 foot tunnel. The raise will be about 4% feet long, with improved ventilation and safety measures as work continues.
Los Angeles May 21 United States Steel Corporation reports current use at 7 percent of capacity with 50 percent of its increased output aimed at domestic use. President James A Farrell notes railroads are buying more, signaling broader production activity, while ship shortages abroad hinder imports but boost shipyard work.
The northern Coeur d’Alene mining properties, nicknamed the Northside, ramp up with crews and expansion plans for summer. Giant Ledge Granite Alley installs a compressor for water diversion to power development work. Old Monarch resumes work under Archie Stecutlum. West Brothers group advances claims near creek. prospects suggest the Northside will soon rebound as a major mining region.
A crowd lines up during business hours to obtain genuine Oneida Community souvenir spoons at Tutte and Anaconda offices. Spoons are provided with coupons or monthly subscription receipts, with mailing charges and delivery details listed.
Los Angeles reports strong opposition to merging the American Baptist Home Mission Society with the American Baptist Publication Society into one entity. An informal vote proposal by Dr. W Bailey was ruled out of order and postponed to the next convention in Washington. Separately, the grounded ship in Honolulu Harbor was refloated after two months, but officials offer no assurance the first cable remains secure.
In Mexico City on May 2 Outlaws who assaulted the German chargé d affaires reportedly threaten further actions. Diplomatic dispatches describe indescribably loathsome conditions and note the government’s powerlessness against bandits as authorities seek to restore order.
Ed Mathews reports a 18 inch wide crosscut strike on the Home Run claim in the Walkerville district. The operation, under lease, has developed mine workings for nearly a month with a 40 foot crosscut at depth, aiming for shipments to Washoe smelter. Gold values and 200 ounces in silver were encountered. crews install modern equipment and plan further depth on the pre-Chy wien project.
The St Lawrence Badger State Pou Aig and Tramway mines, shut by Ani Zonda, will resume work next Monday. The three day production cut was to let the smelter catch up as the mining side ran ahead. No further curtailment anticipated with improved Anaconda activity.
Paragon has become a regular shipper from the Coeur dAlene district’s old Black Fire property. The mine, a spelter producer, now ships at about a Boston car every 10 days. Prospectus notes Stedman’s five year contract with a New York smelter and expected better returns per ton with ongoing development and overhauls.
In New York on May 2, foreign exchange movement drew more notice than a tentative stock session. Sterling fell to a low unseen since 1918 while francs slid. remittances were largely steady, and experts warned a double monetary standard could arise if momentum persists.
The London dispatch reports unprecedented demand for copper and spelter in England as armament works run nonstop. Prices rise with scarce supply, and buyers remain optimistic amid wartime contracts, causing tightness in both merchant and large-scale industrial markets.
The market yesterday showed evidence of strengthening with prices holding well at the opening and advancing. Copper and steel sectors showed strength as demand remained reported strong. Anaconda, Utah Copper, and other metals opened higher and closed mixed amid cautious optimism about a rally. Officials noted large banking buyers and tentative near-term gains, with government purchases rumored for major copper stocks.
Reports from New York indicate concessions on copper pricing amid war material demand. Exports from Atlantic ports for the week ended May 2 show activity, while mills stay busy and large agencies maintain prices. Ray Consolidated Copper may rise per share if current metal prices persist, with possible dividend restoration. market sentiment notes confidence returning nationally.
The New York Metal Exchange activity shows a steady market for livestock and metals. Copper and lead quotes appear quiet with limited movement while hogs and other commodities show mixed prices amid a calm trading day.
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