Word: copper
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Dates: during 1930-1939
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...raised by a bond issue underwritten by J. P. Morgan & Co. Last week as a preliminary to the payment of dividends, the last of that bond issue was paid off 100? on the dollar. No sooner had ore shipments started in 1930 than the prices of copper and zinc, Hudson Bay's principal products, began to crash to historic lows. In 1932 Hudson Bay Mining stock could have been bought for 75? per share. Last week it was selling at $15 per share. Profits before depletion in 1934 were $1,500,000. Including a small amount of ore handled...
...never missed a concert and, with audiences of from 15,000 to 50,000, believes he has played to more people than anyone else in the world. Backed at first by a number of rich New Yorkers, the Goldman concerts later became the private benefaction of the Guggenheim family (copper), are now called the Daniel Guggenheim Memorial Concerts for the charitarian who died five years ago (TIME, Oct. 6, 1930). At last week's celebration Mayor LaGuardia presented his city's Certificate of Honor for Distinguished Service to modest, greying Widow Florence Guggenheim. Turning from her toward...
...took ten months of humoring and hammering, persuasion and perseverance to get the U. S. copper industry to sign a code last year, but once having signed, coppermen became NRA's heartiest boosters. Just two years before they had been starving to death with copper at 4.7? per Ib. The code pegged the price at 9?. Early last year there was enough copper above ground to keep the U. S. supplied for 18 months with every mine closed. The code slapped severe restrictions on output and today the copper above ground would last only seven months. From the code...
When the Supreme Court chopped off the Blue Eagle's head, the copper industry came to a standstill. Nobody wanted to be the first to slash prices, especially since inventory-taking was less than two months off. Aged Philanthropist Adolph Lewisohn, president of Miami Copper Co., did his best to stave off a price panic fortnight ago by crying stoutly: "I have been associated with the copper industry for more than 50 years and only once prior to the Depression have I seen such a low price as 9?. . . . The copper industry is headed for higher prices, and legitimately...
Last week the copper industry got a good shove in the opposite direction at the hands of the U. S. Government when the Navy Department announced the award of a 750,000-lb. contract at 8½? per Ib., lowest price in 14 months, to Milhauser Trading Corp.(copper brokers), one of the loudest opponents of the code. Domestic fabricators took the cue, dropped prices of all copper products 1? per Ib. Copper for export sank to 7¼? against a top of 7½? the previous day and 8½? the preceding month...