Word: anacondas
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Many were the signs, last week, of the new strength in the U. S. copper industry. One pound of metal, which cost 13 ? "a year ago and 15? a month ago, last week brought producers 16?. On the Manhattan stock exchange, copper stocks went to new post-war highs. Anaconda stood at 89¾, as against a January low of 54. Granby Consolidated rose from 43? 1 to over 78. Kennecott reached 124¼ a new high for all time...
...permissible, therefore, to point with prosperous pride to the industry as a whole. And. as everyone knows the greatest single unit in the copper industry is the mammoth Anaconda Copper Mining Co. Chief of producers, chief (through the controlled American Brass Co.) of manufacturers, Anaconda's assets top $500,000,000. With prices mounting to profit-making levels, with an effective Copper Export Association to relate supply to demand. Anaconda looked, last week, towards record sales, record profits...
...happily did Anaconda appear to be sitting on the top of the copper heap that few observers were conscious, last week, of Anaconda's troubles. But Chairman of the Board John D. Ryan and President Cornelius F. Kelly knew that, prosperity or no prosperity, two thorns remained in the side of Anaconda to irritate, exasperate. One thorn was George Campbell Carson. The other was William A. Clark...
...mighty Anaconda itself which carried the Carson case, last August, to the U. S. Supreme Court. Chief Counsel Charles Evans Hughes argued earnestly that side-charging furnaces had been used before the Desert Rat won his patents. Dubious, the Magna Copper Co. of Ari zona did not wait for the decision, settled last fortnight with Carson's backers for $75,000 and an arrangement for future use of the patents. And last week, the Supreme Court briefly denied Anaconda's petition. Holding the battle at length won. the Carson Investment Co. announced that only the labor of accounting...
Thorn Clark. Montana copper wars, kindled 50 years ago, are not extinguished. Bitter enemy of Anaconda is short, florid William A. Clark Jr., son of the late, short florid Senator who was the most colorful of the copper kings. Last summer. Ana conda bought the Clark interests in Mon tana for some $6,000,000. Included was the Butte Miner, personal organ of young; Clark. But Anaconda could not buy Clark's silence. He sent for a complete newspaper plant, founded the Montana Free Press (TIME, Sept. 3). Anaconda merged the Miner with the Butte edition of the Anaconda...