Word: kennecott
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Dates: during 1924-1924
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...Exchange started an investigation. At first it was thought that someone had reported false news in order to manipulate stock prices. Presently, however, it was discovered that in the notice that had come to the Exchange concerning the dividend, was carelessly substituted the name "Mother Lode Coalition Mines" for "Kennecott Copper Co." upon whose shares the dividend had really been declared. As soon as news of this discovery was broadcast all the hopeful purchasers of "Mother Lode" promptly threw them overboard and that stock declined below where it had been originally...
...American Brass. Except for its newly acquired Chile Copper Co. properties, Anaconda is a high-cost producer, and with the red metal selling about 15% below even the 1913 price, cannot expect to operate its old deep-shaft mines at much, if any, profit. With such companies as Kennecott, Chile, Utah or Miami, the lower costs of production make present copper prices more profitable...
...understood that the Chicago, Milwaukee and St. Paul had pledged $100,000; the Rock Island Lines, $100,000; J. P. Morgan and Co., $500,000; the National City Bank (Manhattan), $500,000; Kuhn, Loeb & Co., $250,000; Henry Ford, U. S. Steel Corp., General Motors, Allied Chemical and Dye, Kennecott Copper, Anaconda Copper, American Radiator, U. S. Rub-ber-all subscribed money, money, more than needed...
...American copper industry; considerable dispute has risen over a proposed tariff to shut out cheap foreign production. Every copper company is taking sides according to its interests. Leading companies to suffer by such a tariff are: Anaconda, with extensive production in Chile through ownership of the Chile Copper Co.; Kennecott, which owns Breden Copper, also in Chile; Phelps-Dodge and Green Cananea, with hold-ings in Mexico; and Granby Consolidated, in the properties in British Columbia. Many of these companies also have American mines...