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...tons were sold, equivalent to the output of all U.S. mines for two months at current production. Reason: domestic producers had notified the sales clearing agent of the Copper Code Authority that they were about to raise the price of copper from 8½? to 9? per Ib. Last week as the new price went into effect, sales slumped off considerably. Not in three years had coppermen been able to get 9?. When President Roosevelt took office they could get barely 5?; the January before copper touched an all-time low of 4.7?. The 1933 average was 7.15?. At that...

Author: /time Magazine | Title: Business: Copper & Code | 6/25/1934 | See Source »

...Boxing Commission threatened to have the fight cancelled because the challenger was in such pooi physical condition. Even after a committee of physicians had examined Baer's 210-lb. hulk, pronounced it hale, it seemed improbable that he would be a match for a champion who weighed 50 Ib. more, and stood 4 in. taller than he. Camera had trained with characteristic solemnity. Six weeks of roadwork, six daily rounds of boxing and a Spartan diet made his muscles swell with awesome health when he clambered into his corner of the ring at the Madison Square Garden bowl...

Author: /time Magazine | Title: Sport: Clown into Champion | 6/25/1934 | See Source »

...Officials had counted as high as 5,000 pests to the square foot. Furthermore, the swarming insects were deserting drought-withered grains and grasses for the nearest succulent growth-principally corn. Continuous rains in the southeast and no rains at all in the southwest held cotton around 12? per Ib. The Mississippi Plant Board reported an average count of 119 boll weevils to the acre, against 75 the week before, 323 year ago. Prospects of a reduction in breeding stock and mounting feed prices boosted topnotch hog prices to the best level since October ($5 per cwt.), cattle prices...

Author: /time Magazine | Title: Business: Commodities | 6/25/1934 | See Source »

Nine-cent copper was preceded by the broadest buying in months (see p. 56). Cocoa trading (5½? per Ib.) was the heaviest of the year. Hides were strong, and sugar hit a four-year high at 1.88? per pound for May futures. Wool was inactive at 90? per Ib. Silver trading has slowed to a practical standstill since announcement of a proposed 50% tax on all profits derived from sales of bullion to the Government, and the price has hung around 45? per ounce. Side by side with climbing commodity prices this spring has been an expanding public interest...

Author: /time Magazine | Title: Business: Commodities | 6/25/1934 | See Source »

...learned to fly balloons, went to Fort Myer, Va. where Orville Wright was trying to sell the Army its first airplane. He laid out the test course-the amazing distance of ten miles-and was chosen official passenger by Orville Wright for two reasons. First, he weighed only 126 Ib. Second, as Orville Wright put it, "You laid out the course, so if anything happens you have only yourself to blame." The Army bought the flimsy plane, appropriated $150 for maintenance, and in 90 minutes the Wrights made "Benny" Foulois the Army's No. 1 pilot. First year...

Author: /time Magazine | Title: Aeronautics: No. 1 Flyer Flayed | 6/25/1934 | See Source »

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