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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 25, 1916
Page
13
Copper shares remained steady as general market weakness appeared, with Utah Copper reportedly considering an $8 annual dividend and Anaconda rumored to follow. Prices and dividends for Montana power, Chino, and other miners fluctuated, while Paine Webber noted a bull move may come despite current disap pointment.
Directors increased the common stock dividend from 3 to 4 percent per year and ordered a regular 1/2 percent quarterly on preferred stock. A United States note was sent to London but not expected to affect stock values. Copper in London fell on further liquidation. Apex and Kennecott Copper news suggest potential dividend and price movements. Dividend checks set to July 1 for stock of record June 14. common stock now yields 8 percent at $80 share.
The Mount Washington mine in Wickes near Alta was purchased by Charles D Autremont Jr of Duluth and George W Wilson of Hutte, principal stockholders in Angelica Mining and Development. Final payment to Fred Kauf completed. The mine features a 520 foot shaft, a 50 foot adit, veins 1 to 300 feet wide, carbonate ore extending to 400 feet, and expected output rising to 150 tons daily with 50 workers now on site.
Minneapolis grain notes wheat for May at 1.19 percent and July between 1.14 and 1.48 dollars. No. 1 hard 81.20 percent No. 1 northern around 1.19 to 1.31. No. 2 northern at 1.15. Barley at 0.63 to 0.47. Prairie price and futures values listed with totals 1 401.89.
North Franklin Mining stockholders face a five mill per share assessment. Directors met May 12 and set the payment due by June 11 to GC Burke at Kellogg. No operational details are provided and stockholders receive only notices demanding payment. Publicity has been limited and stockholders are urged to trust the directors.
The Montana Power Company announced a higher quarterly dividend, boosting the annual rate to about 8 percent. The move places the stock at a stronger payout level, signaling improved earnings distribution for investors.
Chicago markets held a modest advance as crop damage reports from Oklahoma and Southern Kansas lifted wheat and corn. July wheat set at 1.09 1 1, September 1.10. hogs and cattle showed slow to steady moves with mixed demand. New York and London markets followed with copper and lead quotations and financial quotes.
Boston and Montana Development Company reports first ship ment of White Motor trucks and trailers from Cleveland to Butte for hauling ore from French Gulch and Elkho t ties to the Anaconda smelter. Contracts for more trucks from White and Peerless follow. About 125 workers toil on the property as 30,000 tons are cited and stock trading shows investor interest.
A sparse compilation of names such as Butte Karnes London Caledonia Davis-Daly and Hercules appears with monetary figures or codes like 1,000 and 500. The text resembles a fragmented ledger or classified list with repeated references to locations, companies, and individuals, but lacks coherent sentences or a clear single event.
A dispatch reports in Hlighorn district that 10 vein pockets may be opened by a development tunnel. The Elk portion superintendent notes a west crosscut from the 1 000-foot Working tunnel reveals over 100 feet of highly mineralized vein with no hanging wall. In the east, two feet of ore grading over 0. per cent copper and 30. per at. with silver and gold values has been cut. President Allen projects August 1 for self financing.
Industrial voices argue copper's current highs stem from wartime conditions and fear of postwar declines. Historical notes cite 1865 and 1868 prices and Lake Superior production, while 1916 figures hint at continued high values despite war’s end. Portland and Seattle market reports list varying ranges for copper and related commodities.
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