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Newspaper
Tombstone Epitaph
Location
Tombstone, Arizona, United States of America
Date
Jun 27, 1920
Page
2
New York June 21 silver demand for the year is projected at 500 million ounces with world production at 170 million ounces, excluding Pittman act repurchase. Estimates show Asia trade declines and include jewelry demand and repurchase requirements totaling hundreds of millions, signaling a balance of bullion needs and monetary pressures.
June 21 report notes treasury action under the Pittman act fixing silver purchases at one dollar an ounce. Metal dealers alter quotations to distinguish United States and foreign silver with domestic quoted at 4 cents per ounce and foreign at 4 cents, the latter tied to foreign value.
A historical report notes a manipulated silver market in London and New York with bid prices diverging from sale prices. It covers shifts in silver and gold reserves, German and British actions, and anticipated wartime indemnities affecting Europe and the Far East. The piece cites Swiss and Japanese financial pressures and expert opinions on price movements and currency dynamics.
Nogales chamber of commerce joins mining expert Charles Butters to push a silver producers association in Mexico. They seek to rebuild Mexican mints and obtain government approval from General Obregon and Provisional President De la Huerta. Committee members include George Crow and Hugo W Miller.
Washington reports a Pittman Act action forcing the Treasury to purchase up to 207 million ounces of silver at one dollar per ounce 1000 fine. Purchases must come from U.S. mines or domestic reduction works and proof of origin is required. Trade figures show Britain’s silver exports and imports by country from April to June.
Arizona dove and whitewing seasons show two dates leading to confusion. The latest game laws list July 15 to December 31 for both species, while licenses issued print September 1 to December 15 for doves and July 15 to December 31 for whitewings. Hunters fear a test case may be needed to settle the open season.
Governor Campbell will preside at the state land board meeting at 10 o clock tomorrow morning. He is returning to Phoenix from the White Mountains after attending the Republican national convention in Chicago. The board, meeting during his absence, voted to terminate the investigation into the state land department headed by Commissioner W A Moeur.
On June 22 the Arizona Corporation Commission dismissed United Verde Extension Mining Co. v. Atchison Topeka and Santa Fe and Santa Fe Prescott and Phoenix railroads. The body ruled the railroads properly classified a shipment of steel rails from Phoenix to Clarkdale at 60 cents per 100 yards, denying the complaint that rates were unjust or unreasonable.
The Junction shaft of the Calumet and Arizona Mining Company will be sunk 500 feet to reach the 2300 level from 1800, funded by an appropriation. The work, estimated to take about two years, will halt further development below the 100 foot level during progress.
Borus Dutt former police chief of McKees Rocks Pennsylvania was arrested in Albuquerque on information he is wanted for misappropriation of funds and jumping bail. He denied identity at first but admitted after photo was shown. He will be held awaiting Pennsylvania officers arrival.
Phoenix June can Express company filed with the corporation commission a petition for increased rates and a change in express classification after approval by the Interstate Commerce Commission. The move mirrors routine requests across state commissions. Treasury officials estimate 207,000,000 ounces of silver must be purchased under the Pittman act, but demand abroad is weak so price impact unlikely.
The director of the mint announced the purchase of 1.7 million ounces of silver at one dollar an ounce for delivery in Philadelphia and San Francisco. This brings the government total under the Pittman Act to 3.2 million ounces for the month.
An earthquake at 6 47 tonight damaged eight Englewood business buildings and many dwellings in Los Angeles County. Several coastal cities Long Beach Redondo Beach San Pedro Venice Santa Monica reported minor damage as plate glass shattered in the business district. The Edison and Laughtin buildings were jolted and squeezed together in the tremor.
June 22 a vein near the North Tigre Leasing property yields rich silver ore. Two rounds of ore have been mined while assays are not yet taken. The mill shows about 80 percent extraction on 40 ounce ore and concentrates run around 2% ounces of silver. First concentrate shipment expected July 1 as mill runs at full capacity with three shifts planned this week.
Copper Queen mine at Don Latis in Bisbee reports hitting a large water strike on Saturday in the Calumet and Cochise near Warren. The hydrostatic source was found at about 1700 feet depth, roughly 400 feet southeast of the shaft in Black Rock country. Officials expect ample flow for the new Copper Queen mill.
On June 22 the Bisbee district sets speed limits from city limits to Lowell railroad bridge at 19 mph then 15 mph to Warren limits and 10 mph within Warren. The decision followed a road trip yesterday by J. C. E. Adams, chair of the board of supervisors, with local residents. It also proposes parking limits on Lowell main street.
State comptroller’s office reports a nearly 2.6 million dollar rise in Arizona bank deposits over the past year with May 4 statements. Phoenix banks alone show a nearly 10 million dollar increase, per the issued statement.
Benson on June 21 reports the board of supervisors will act soon on converting Benson High School into a vocational high school. Signs will mark road limits and the sheriff will enforce them. Crumly and Cash lead school staff. officials met in Phoenix with H Blome and state education leaders to inspect the plan.
In Flagstaff on June 22, local businessmen and capitalists who met with Weatherford partners from Los Angeles withdrew support for the plan to build a road to the San Francisco Peaks and a hotel. Despite initial optimism, subscribers failed to materialize as only one offer of 1000 dollars existed without additional backing, ending the effort to raise the total cost.
June 22 Phoenix reports farmer George A. Trissel, once separated from his wife for seventeen years, was arrested on a Greenville warrant for failure to support a minor child. He says a father’s letter claimed a divorce in Ohio erased martial obligations, while authorities investigate eastern records and Trissel awaits further information.
The state executive committee will meet at the capitol in Phoenix to outline plans for the upcoming American Legion state convention to be held in Globe in August. Also reports note cantaloupe shipping begins July 1 from Salt River district, aiming to avoid Imperial shipments and protect profits amid lower acreage this year.
Five privates of the 10th Cavalry were brought to Tombstone after allegedly killing a civilian during a dispute over a craps game winnings. The victim Vilian died and a soldier Scott was wounded four times, with robbing the corpse cited as a motive. The prisoners named are John King, Jone Moody, Jas Moore, Claud McGuire, and Carol Dickson.
Phoenix June 22 Fire from an exploding gasoline tank destroyed the Buckeye garage at Buckeye yesterday at 6 pm, totaling about 25000. Six cars and over 500 in tres were lost. An employee Ralph Brooklin was burned on the knuckles. The garage, leased by Hartman and Nichols from Cam Skinner, was a wood and sheet iron structure aiding confinement of the blaze.
San Francisco June 22 The state supreme court today declared the state soldiers land act of 1918 unconstitutional The act provided for a ten million dollar bond issue to purchase land for entry by men who served in the military during the war The proposition was to have gone on the ballot at the November election.
Ten teams entered the machine drilling contest as part of Independence Day festivities in Prescott Jerome area. A man and a woman were shot in a lodging house. the woman allegedly fired after a quarrel over another woman. Authorities questioned if the dead woman’s wounds were self inflicted or not.
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