| Show o - B11 THE SALT LAKE TRIBUNE Sunday November 2 1947 The visit to the El Paso meeting of the American Mining congress with the attendant jaunt across into Juarez Mexico naturally mind to Cananea loturns on cation of an important copper mining operation which insofar as American participation was concerned had about the most fantasof any in history tic They involved the financial ruin of an American who wee completely honest in intent but who "managed" to get himself his stockholders and valuable mining properties into an almoet unparalled beg-inning- "mess" While the earliest mining at Cananea Sonora Mexico began In 156& this article has to do with affairs at the turn of the present century It concerns Col William C Greene and the strangest corporate confusion and financial znix-u- p To one could imagine contemplate the interlocking holdings of Greene's companies is to become dizzy De vel ape& It Property was Col Greene who took abandoned Over at workings Cananea and developed the property into cme of the great copper producers of the world The trouble was that he did not stop at railthat Heandadded gold mining lumbertng to such an roading extent that his many activities demanded sums of money so great that he could not make both ends sneet To give an idea of the corporate confusion of the Cananea operation the record shows that the Cananea Consolidate° Copper Co s stock was owned by the Greene Consolidated Copper Co and 51 of the stock of the Sierra Madre Lend & Lumber Co supposed to be an aaset of the Greene Consolidated Copper Co in reality belonged to the Cananea Consolidated Copper Co which company sold it to Col Greene but Col Greene could not pay for it! We could go further along this line but no doubt the reader is sufficiently confuse& Writer Explains To digress from Cananea but to tell of a contributing factor in the eventual collapse and call for new management of Cananea we turn to the Greene Gold Silver Co at 3gtexico Conchen were followed -Nothing was bought outright If it could be secured on a part payment and in consequence the company at the first financial pinch fell to pieces like a house of cards In fact it is doubtful if anyone Living except Col Greene hirriself and poesibly not even he knows exactly what the company owns It is safe to infer however that the company holds direct title to very little" Stockholders Rebel This sort of thing along with the Omani troubles led to the demand of ttockholders in various Greene ventures for new and cornpetent management as well as for a time the almost complete nervous prostration of Greene who as far as anyone ever knew had had :no great personal profit in any of - ur Salt Lake Stocks I xCardift Central Standard xChiet Con xCiayton Silver iCo !orado Co n Columbus-Emi- l arombineet Metals itComet Coalition a Commonwealth Crescent Eagis Oil Crof t Crown Point Won Eureka X Dragon East Crown Point a East Standard East Ti nt le Coal xEast Utah Emoire Nimes x a FIlitt(111 x Eureka 1111v Con Eureka Mines Eureka Standard Gokl Chain Great Wetrn xGrand Deposit 1Horn stoier xHoweil Inman Queen K r nnetec Eentuck Keystone xla8eside Monarch x Leonora xLittl May Magnolia Lead aism:114th NI o'er i ll a a iiiiver a 12 4 06 0- 1 I r 14 04 IA 1 50 55 05 04 ns 49 0314 10 '723 13 04 204 02 i 04 X2 15 05 I 03 0512 01 I 53 03 41 17 28 03 al 36 03 07 41 1 I 1 I 114 05 21 03 07 15142 07 041 054 18 55 05 10 31 04 37 05 10 nit 29 14 02 11 05 27 1141 0141 11 I 021a - I 15 04 ! 02 4 03 OA 37 05 41 02 4 01 01141 - 65 03 Cr24 18 I 1 60 0314 57 01 1241 01441 42 I 07 07 07 I i I f I I I 4 I 50 02 2 '1118 1 18 22 I 02 1 424 04 44 4 00 50 04 421 01 03 i 10 07 i i - Shield Siiier Standard 1 Sioux Mins So Iron Bossona South Standard Ss4ansea Con 02 xTar xTintle Lead aTintic Standard )(Union Chief Utah C"11 Con Ott XUtahWyo Nitor Con Western A 0 y i Central Tirtie Baby 0541 112 I 28 1 25 06 02 114 02 03 03 4 04 03 05 4 50 I I West Toledo xVvitsert XYa nice Con Zurna Rug eorn I fd xdo 1075 landielit ell Operating 8 companies SALES &Art:RDAS-I I NEW YORK Nog 1 lead and line sold in good (API—Copper volume during the week and silver advanced 34c to al ounce 744c Proauters said the price structures of copper tad and zinc were firmed Was lington statements that the gover-by nmnt's stockpiling program was far behind (schedule by the possibility that the Maan will furnion kArone with dolrnli lars o2ded for purchase of these raw materials and oy the drain on supplies du to a shutdown of the Utah mine of Kennecott 'oporr The mine which adds about 20000 tone ot refinen copper a month to the natIon'a closed down as a result of a supply 1 locomotive engineers ftremen waikut men & Garfield on the and miss ore from the mine rallro tit which carries gingham to the Kennecott mills Wire mile were the best customers for but crass mills were showing more copper irterib-- t ThP rie at 21104c peld lb 2onnecticut valley base Foreign copper14 seas n better demand with prices at 21 Sew York Dose Letd prices held firm et 15e lb New York Argentina was of Mexico paying 144c lb for lead at Gulf reported ports Domestic demand was reported in excess of supply Prin western and special high grade zInc sold in volume The price held at 104e 13 good East St Louis zinc was steady at 10c lb Gulf Foreign of Mexico ports The silver market firmed in response to industrial especially for Improved domestic In v very-- - ro Ann deThotogra mand and to Mexico continued buying of ailver for coins le Th silver in New pies ot foreign York advanced an ounce during the week to 7414c 34c its best since April price 2 when silver sold at 75ssie an ounce rhe ar's high was 864c In March London went up 14 pence to 444 ounce equivalent U S Pence anprices to 74 cents in New York 11 a flask Quicksi:ver prices eased by of 76 1b sales from 180 to 182 flasit elpendingranging upon quantity ors sold at $30 a ton carload Tungsten toes own- 50e Steel scrap prices continued to hold 124 24 i I WEEKLY METALS 02142 30 05 03 04 07 46 08 01 12 01 04 72 04 04 21 1 65 4)414 ' 60 04142 13 0211 46 09 09 00 2 75 -03 10 22 23 04 1 60 05 4 50 gro 05 031 2 04 11 11 02142 06 01 30 1 30 06 01 1814 01 014 04 05 05 - near record conbut many sumer -- tayedhighs out of the market large iron in remained Pig tight supply was Sheet rd strip steel production at record but demand conrepored highs it tinued to Orders were being taken tor Outstrip first quarter 1948 delivery of hnt Arbon steel bars Quotas for steel will be plate for firsta few Quarter set weeksdelivery up within Prikes unchanged this week Included: Tin SOc ib Aluminum 14e lb In pigs Antimony lei Ole lb eased - New York and l3c bulk Laredo Tea t5c lb Nies' cathodes ounce wholesale and Platinum 162 an lectrolytic $ed retail OVER THE COUNTER 0514 75 4 Bid 1125 10 35 cord I a 80 pld 4 First Securtty Core 53 I Indpadont Coal Mountath 14 A5 Sunni tars 0!I rili 14 25 tuts florn Fir Ina 130 00 ttah Pstort 10 OS Utah Power at 1t ohm 21 35 rush Southern Oil 850 i 84 00 - 7 C M 1 - Equity Bid 9 75 40 67 00 ) 21 00 183 00 64 00 115 15 35 14 65 190 00 1033 21 35 1 9 00 I I Bid I Asked 1510 1212 50 75 00 22 00 88 00 B-- 8-- 3 4 S-- 4 -o -- — ' r' :::?-- y'' ''' - '2''' : ft - " V Mom Elr-Fre- p:":-' k '4--:- 5 ' 4' :'t'i 4011111" 4-- ' SG C''e all - lk ---- --- :-ii 14 itS V "SSW f J 'CIOPt -- - -- - - "'' tik9 -- -- - 4 (g f 2 : '' R rME - S - I it Id E Aeq - 2 - "' :- -- 22--- --- '” t9 -- -- - ' -' - -' ITM E 0 5 -- -' INCORPORATED SALT LAKE CITY UTAH ' '' 2--- -' - -- - 1 - -- 7 - - - 9- - 2 - : 2- ': - 2- - ' - - ':? - - - ?":r-:- ' :- BOISE Briggs Mfg Budd Co Cal la Can D (1 At Canad Pee! Celan Corp Celot Corp! Cerro de P Ches & 0 Chl & NW do pf 11 1 Chrys Corp Colg-P-Col F it Zr Col Bdest Al i l Co! G & Eli Coml Cred! Coml Solvi Comw & Sol Cone Cons Ediel Cons N G1 111Pei COW! Coot Can Cont Mot Con 0 Del Crane Co Curt-W- 1 Rug I do A Deere&Co D&RGW do pf Dome Mns Doug Airr Du P de N' East A L East Kod Eaton Mf El Elec Boat P & te it 11 - 4 251 l 32 3: ' ''7- IDAHO FM - ' - 5441- 14 11 3! 24 51 121 231111 I 51 4 91 4 i i I 4 I I 51 101 23' 5 81 11 71 41 Tot Mary I M & C Int N Can Int Paper Int T &t SU 3 Ls 514 I It B M&S1 tiud mot Corp! 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T P L Therm Co do of T W A Oil I Transamer T & W Air' Tri-Corp' 611 14 44 4 las 14 '12 14 "4 — las 23-4- Penney JCI c'enti RR Pepsi-Col- 1912s 1932! 1912' 111 0 70 111 AN 14 27 121 24 21 It 24 44 4 4334 43 421 43311— 14 50 42 4 9 14 50 14 4 34 4 44 2 44 31 15321 15441 15kai 14 18! 5712s 57 57 14 13 14741 14121 14741 Si 17141 17141 17121 1 27 27 27 3 2 do pfd Mont Ward' Murray Cori P crig Up 0b7 off 00S Off 003 Up 01 Up 001 Off 219 141 t Li ni51 - 21 31 3 6 11 3! 15 1' 1! 14! 10 1! 14! g' 4 4 314 17421 MI 17311— 17141 44 271'4' 27421 271'41 44 44 IN 4 3 42 4 4 1 4 2373i 2360 23841 44 307A1 311341 307-358 59 59 14 44 70741 10721 10741 34 34 34 2212 22121 221214" 14144114112141141 5342! 5342S 2634S 26141 81121 8441 834 1811i 18121 1812 15 44! 15121 1 5 12 — 2! 71 151 28121 31 31 1 4 4 34 4 4 IN 39121 22 ' 45 33 34 14 3 44 2 1212! 51 1212S 371 3! 10141 M 284j 3 9 14 22 43 1' 2S331 3 9 12 22 45 33 it - 314 33 3 12141 12141 12 12 t las 3714 16 2r) 161111 16341 1612 2! 4 4 114 4 3 44 4334 — 3 36341 35341 35341— 71 22 21341 21711— 101 11 10711 1014 101 27111 27141 27121— 41 61 61 61 4' 41 4041! 22( 17 811 774 77 14 3! 14 341 2 0 74 11 281 a! 5811' 1 e 84a 5714$ I 14111 2O4t 10111 57111 1 34 27 14 1014 52 23111 12121 14 314 20 14 Int 5814 1 4 4 14 12 411 74 12 14 11 lat ill 6 IN 4 14 27 34 27 31 1014: 1012 172 52 12' 23111 23111— 12141 6' 12341 1 11 1512! 15121 1514— 2311 7 714! 7 1 5 14 2 5 41 2Sl7I 1 2' 5414 54141 54 14 1105 1'105 ' 34 3' 24 1105 24 171 2014 14 2211411 in 22111 22 5! 11 1! 52 11 211s 5' 5534' 1! 46341 2' 4512 ' 27 7912' 14 14 3! 21 27i! 56121 453 45111 7732' 13 72 22741 2 — 5511' 46I4 4512—' 177 4 13 7at 23 1 3 7 12 3 7 42 3 7 14 131 20 29 2814' 1 2 5 11 2 5 14 2 5 44 281 10 441 10141 1012 4' 474 4741 471114 19 19141 19141 79114 kis 1" 14 — 12 14 Total stock vales Saturday 3n0m00 shams: previous day S00000 week aro 4015SO: year ago1 fl9rtS50: two years tn dot ago 919720: Jan 2n9999779: two years ago year ago 312416801 307981241 LIVESTOCK MA I? K ETS Nov 1 ( OGDEN Ralable and total nooe for week salable 272 with week ago butchers compared and suws 4150 to mostly 4175 lowr iveek'a top 42625 closing top $2575 on buik good end chutes 180 to 240 O butcher 240 to 270 lbs 42525 270 to 300 log 82475 300 to 350 los $23750 choice 2425 sows largely $212502275 423-2and above Illintweightti and total non: for Cattle -- rig' W week ealable 3722: run mostly rang' cattle suitabie for stocku and feeder purposes: better grade slaueilter steers and heifers also all atocker and feeder el some wukness on good cows tuily steady veitiers low and bulls few lots low quality to verag good slaughter $2300 $23-5odd head S2400: bulk medium medium $1850 0 42200 fj common 2250: low down to $1600 2050: good medium $16500 heltrs common $300002200: 01600: few young 1950 $1400 above cowls good $15500 $1800 and 51350et15-00cutter 1160: medium to common SIO 50 01300:-cnner- s 610 and below good beef bulls 1170041800 bulls S1650U1750: sausage comparable medium g1450tp1600: few selected lots vealerc $2350: bulk good and choice common to medium 81800 521 02050: culls down to $1400: choice feeder steers $220002265: with choice fleetly weight erfeeders 42325: numerous feeder 82000 2150: carload good heifers $1950 702140: good to choice stock calves $200002275 'took cowl $14 5001500 none : for table and total Pheep-- Sa week salable 6308: compared with week clam-seago all ateady to strong: carioecia good and choice Idaho slaughter lambs benefit medium and $2350 with freight mixed fat good $2200 one load 94-l- b lambs $2150: load medium and feeding no and good 69-l- b $2050: feeding lambs Choice offered: good and choice trucked-i- n lambs S210002225: good and slaughter west choice S8000850: medium $700 0750: culls down to $350 PORTLAND Oct 31 none for five daye eatable Hogs-Sa-lable 2263: total 4194 Compered week ago Irlogs-- 'tuts - around $250 lower: late top above 52650: early high $2800 Dm weight 240 lbs and under 180 penalized to $250 good cows around $100 choice lower $2300 tr 2400 largely feeder pigs early to $2900 one lot market etandittill at after $2950 but sizable carryover and no Monday with definite Indicetions of prices good eels S1S 5001850 Cattle-Sal- able and total none: for five 2763: total 3279: calves days salable 615 and 747 Compared week ago steers to weak calve and and bull to $100 lower: cows and vealers weaketeady heifers 50c to $100 lower with canners and cutters recovering part of early decline Medium to low good steer' 82000 and 0 2400: load average good $2550 one high good steer $2600: common down to $1650 few stockers ntl feeders odd good heifers $2200 8175002000: common and medium 0 2300 canner $1580 and cotter cows $900 0'2100 closed medium up: $1050 01250 moety and good beet cow $150001800 odd young tows to $1850: medium and good sausage bulls 8160001650: good leoet bulls to $19 00 good and chole voalers S230002500 common down to 81500: culls down to $800 good grass calves 2250 52000 Sheep-Sal- able and total none for five Market days salable 191)6k total to2969 50e higher: active fat lambs needy other claemes stead!: good and choice wooled lambe 8215002200 shorn kinds medium and good 81900 $2100 down: 02100 medium feeder! $1700: shorn kinds $1600: good yearlings 81700: good and cholee eVPS $800 a 850 common downward to 8400 PAN FRANCISCO Oct 31 -Cat- tio-Salable for and total none 1350 Compared Friday week flu days steers steady ago medium and good one load top good bulk 82300025-251200 lbs at $2600: heifers steady one load good 790 lb at $2400: good cow active steady 2 loads 1060 lbs at $1900: bulk common to medium aged range cows 1700: common dairy bred slaugh$15000 cows weak ter $140001500: canners and cuttersmostly closing weak to 25c to 50e lower bulk $115041350: medium and good onder 1400 lbs sausage bulls weak mostly We $180001800 Calves-B- ale and total none: for week 250 Steady odd choice 280-l- b week's bulk medium to $2500 yealers over 300 lbs at $230002500 choice Sheep-Sal- able and total none: for five 3700 Compared Friday week ago days lambs 50c higher 12 decks medium to two choice wooled lambs 86-l$230002350: b No 1 pelt decks eorted choice extreme top: medium to choice $2400:ewes shorn $75001000 Grand National show next week DENVER Nov 1 steers with Friday: Cattle-- Tel moistly 25o higher eriot up 50e: low good fed heifers low choice 12550(03150 to to high good strong: medium steady toMOO: heifers grass fat $22500 beef cows 25 tostudy 75e down at $2200 off more: top 819 00: bulk lower: common spots to good 11475 eP1$125: canners and cutters steady to 25e lower: bulk canners many S115001315: shlly and below: Mille mostly steady $1000 hulk medium to good $155001800: beet 50 calves and veslora strong to 50c $21 50: top heavy higher beat yealers salves $2125 stocker anti leaders steers 'We : '47 Industrial Profits Boost Hints New Wage Demands auto 0 NESA AVERAGES mem& Co FtIrnished Twon Underwood Un Carbidei tin Oil Cal 14 Un A Linea! 11 Un Aircraft! 14 United Coe lis Un Fruit U 8 Rubber! S PRAM' 14 13 Steel 14 War B Pic! ki W Lin Tel' 11 Wee Air RI West Floe Li Mot 14 Whii Willya-O- v Lis Woolworth 14 Y Sh & TI i (AP-USD- -:-- 1 1 t - I Ar 0 Ob !:z - ' -- - gs!"firdr 6"ete 4 f '5Z'" e - -- '54tI i ' --- ::::- — ' -' - ' ' 7 -- " -- - lb ar ' -' v- 341 Br! -- ' ' '' - - '''''' 95 :)::V ' ' Col $I-5- - '' '' I :' 79 68 68 90 80 98 06 14 68 8 12 4 97 16 16 2810 22 20 19 00 :7 rV52e - - - - '- 4 Bth 1r Wks Briclix Avial Best Fonda! Beth Steel! Boeing Airi Borden market ' '' 4''' " 2'vc ''''''' 5 15 25 25 17 9 14 - (AP-USD- 439 435 1 59 3 97 1 45 5 20 13 74 23 54 2354 16 41 8 97 13 73 453 13 68 7 35 4 50 15 03 26 13 20 30 I Consolidated Copper Co and two rAmalg Sug prd lAsc lk Mach men of prominence entered the eon 'Wrath 1:1re Clay P & 1 corn and aZ xrtah Ryan Keystone Cettin picture —John D C M 1 do Thomas F Cole This came when do ainclicatea operating companiec the origtnal company was in so do S2 do low financial condition as to preN'ationwide Bat Fund METAL QUOTATIONS 14 See t Btk clude its talung advantage of high do Incom copper prices Cole became presi CopperBy J A Bogle ág Co Brokers2150e Putnam G Fund Lead 1500e Russell Berg Fund dent and Ryan a director with Dr Ztne 10 50e Union Pr 13k Fund L D Ricketts as general manager StIver 1741 90125e Wellington Fund - Asked i 401 Affiliated Fund Inc Amer Bus Shares Dividend Shares First Mut Trust Fund Fund Investors Inc Csidn 2 Keyston I 00 1111 CO3IPAN1ES Di'VESTLNG UNLISTED STOCKS 985 4 Si 11 1 000 40 2icat 42a Para City Con It 900 foliNer Shield 3000 at 44keT1ntte etsndard 100 at U-2-5 Union Cbsof 3000 at Sebionoperattag Itorska Vines 1000 at 314e Baton Iron Blossom 1000 at 10a West Toledo 1000 at 334 10 65 I I Balt Barned Braniff Brdgprt 171 002300: itd As augar Arne' do Operatiat rest Standard 404o at Blita sCurska Builinft loon at 7 I nor I -- 11 55! Mfg n I i & Local F4rg-Wr- : 44 Corp1 Bald I to 25e ateadte CHICALlO Nov were registered by In iitnt gains seatince on the board of gratis trade tieturday At (AP)---tirri- DOW-- J Net I 4 I Close Chg 17141 17141 17141 14 29 29 14 3 6: 3121 314 I 189 11189 1189 6- 24 32 32141 32 6 39141 3914 39 641 - 14 25L 8 812 44641 81- I 10 21 14 21 14 til 1014 '14 1014 10141 14 351 IN 14 15 - 14 33 8 33141 33 114 10i b51141 64 141 b514 14 17 1351415514i155141- 14 2' 69 6514 1i9 7 58141 5541 241 17f!s 1712 14 14 9 34141 3414 341s 14 1 :V 14141 1414 14141 - 14 2: 81 81 81 2 50 50 50 21 23141 23 2314 5 12! 514 51- - 14 14 1 6 aa 1 614 1614 - as kit 14! 11121 1114 11121 as i 4 33141 3 3½I 33 14 61 14 1314113141 13 14 4 33141 33141 33 aiii 8' 31 314 31441 1 993 59 100 14 6 20141 1914 1100 31 44 43411 44 3! 5114 5114 51141 - 64 A 7111 S 34 4i 8 11 12141 12 as 12141- 14 2 3414 34 34 121 12141 12 12 - 14 2 2 2 2 51 15641 14 301 1044! 2511 10141- 28 121 26 13 14 28 28 1! 28 5! 21341 257ii 25 74 14114 44 10 444 4414 1! 16141 1614 181414 14 2! 39441 38N 3941 311 8 3 44 4 01 6 4 14 63 14 45 45 11 45 10: 1641 3½I 1641- 2! sit 25141 25141- 14 211 12 1124! 12 5! 48 114 47141 48 4' 2314' 23141 23141- - 14 21 41 C Ab-e- I 'Sales Idighl Low Reduct A ileg Corp Al Ch & DI Allied Stra: A Illa-Mfg Amer A irin Am C & Fl Amer Locoi Am p n Li Am R & giA Am Rod M Am 8 & RI Am T & Ti Am Too B1 Am V iseosei Am Wet W! Anacon Cp! Arm & Co! A T & 8 It At' Cat Lol Atlas QUOTATIONS I Ex11 Mr 60-sto- ck the ventures Finally in 1906 the Greene Cananea Copper Co was organized to virtually obliterate the Greene - boa NEW YORK Nov 1 (Al—Selected stocks Saturday edged into November with modest recoveries but for the week the market was thrown for another moderate loss The short session was propped by bidding fot a technical comeback and a certain amount of short covering by professionals who intended to extend the week end through Tuesday's election day recess As throughout the week though accounts were trimmed by those who felt that the list had sounded a bearish note by refusing to respond to a big batch of good corporate news items The elimination of credit controls beginning at midnight was mildly optimistic The increase in brokerage commissions effective next Monday proved a negative influence proDealings for the two-hoceedings tapered to 360000 shares against 400000 a week ago and were a bottom since last May 24 For the week transactions aggregated 5464261 shares compared with 7677250 the week before The October figure of 28634629 shares was the best for any month since last December The Septempetent management ber total was 16017170 The Associated Press Saturday composite was up 1 of a point at 655 but for the week PIAT1RD4Y11 QUOTATIO!M was down 8 For October the inBid Aaked dex held an advance of 8 after the two previous losing months Of OS S 07 iS Big Mit Binchm Metals 01 04 M Bonanza 03 04 4 718 issues registering in the brief ining griptol Silver 1214 session 311 rose and 216 fell ixi31ion Despite all these troubles the Cananea properties had paid more than $5000000 in dividends up to the reorganization The new company had its troubiles and its early corporate affairs were criticized severely in the public press but the properties were saved for many years to come of American operation The original personnel of the new company particularly John D Ryan pointed to Anaconda Copper Mining Co of course and the record of production under that company's operation is open to all Officials Cited Clyde E Weed vice president in charge of operations for the Anaconda Copper Mining Co well known in the west was general manager at Cananea for several years V D Perry later geologist for International Smelting & Refining Co Salt Lake City was formerly geologist at Cananea Scarce in the annals of mining are cases of so hopeless appearing a mining venture being turned into a payer of many millions in dividends even with the most com- An Adma superintendent Chihuahua another of Greene's ventures Of this the late Horace Miners Gobi Mtssouri Monarch J Stevens wrote: OACOW 'Pres Porfirio Diaz of Mexico 1M City aTMourtain View who had been a consistent friend xNevada Copper of Col Greene is said to have Nd river Metals loaned 1250000 personally to help aNew anew Park the company along but this was xNorth Majestic Lily North St nditrd merely a drop in the bucket and itOhio Copper complete collapse was inevitable Park Bingham City Con by reason of the utterly fallacious xParit Park konold 141MM plan of operations that followed Park Park Premier It is difficult to understand how xParic Utah Col Greene a man of ability in ?loch Emilio! iubie Mines many fields should have allowed xPlutua his mania for buying mines to have a Prince Con Mining mastered him so completely as to xProper xRieo Argentine Coal have conducted the company's af- xSovston King Coal fairs along such insane lines as aStisliver yer K nir W ea t o SATURDAY'S Sales CIIICAGO G RA IN BUSINESS OUTLOOK STOCK MARKET QUOTATIONS Jaunt Across Line Refreshes Brokers Fear Fantastic Cananea Memory Bear Mart James H Kirk superintendent of Cut Accounts OLDTIMER mines and Frank J Strachan mill 50c lower: !SO mostly off: fancy $2600 choice S25 spots other common to good $1300 V 24S5 feeder betters steady to weak instances 25c or more lower on thin light weight: practical top $2300: some reported as breeders $240014 other common to choice 232S: stock cows steadv to 25c $1500 common to good $12004715 25: higher: tocg calve moittlY steady practical top S23 50: but odd heevy fantty 624 004 2500 lambs etrong to 25c Sheep—Slaughter two loads choice) range Colorados higher $25-25strictly good and choice $25 0o others grading motiv good $24 50: medium and good $2400: choice truck-in- e S2525: salehle $2500: few wee and lightweight Navato largeiv tYPe slaughter ewes fully 50e higher good and choice S900 4950 latter price new season: few loads good and choice high for 70-1- h over black face lembe SO 52250re 2115: whit farebreeding lb numerous at S2275: lighter weights averaging $2i 00 et 2250: big tring medium nOand white faces good under 2100: common $12 00: 37 lbs $lit S1500 run feeding lambs no higher but general some good and choice weight as much as 25c up CHICAGO Nov 1 (API—Salable hogs 300 total 3300 (eetimated) Compared with week ago: Butcher hogs all 3172 to $200 lowr: sows aroundweights 4150 lower Cattle—Salable MOO (unmated L Comweek ago: tteneral market on pared withveers and heifers went to pieces slaughter a atrong to 50e higher badly late following trade early In tilt week: steers and heifers average to choice or better cloned grading 250 to 50c lower lower grades unevenly to $250 lower common to $100 medium light grass steersexcept and heifers only weak to 50e lower: cows and bulls 50c to 75c higher: vealers fully 50c higher late top $3556 and eiOttillic bulk good and choice fed steers $260003375: medium 1150 to 1250 lb Montana grassers S22 50 47'2450: most good and choice fed heifers S255003050: top S3300: for common and medium grass heifera $15000)2100: medium and good beef ett'Atl $15001t 20507 canners and cuttre $11250111375: week's too good heavy bull 11900: veal-er- g closed at $2ft 00 down: stockeri and feeders elow good and steady:steers choice yearling' barely and feeding $2050 gi 2375 d 100 (eetimated) Sheep—Salable with Week ago: Slaughter lambs 50c to mostly $100 lower with trade bearish and at low point of closing week: cheeses 25c to 50c higher: othr slaughter most good and choice nativ slaughter Iamh i! during week $237502425: closing 2375: two doubles good spread $2325or 94-l- b fed wooled western and choice lambs $2325 at close with five loads to 94 100 lb fed westerns comparable earlier at $2400: lower gradee scarce few medium to good $200002350: corn-mo- o throwoute $19 00 down to for straight culls: good and choice $1250 yearmedium to ling wethers ewes $200065)2100: and wethere $1700ts good mixed weed-ern load 'rood and choice 122 lb 2000: ewes and few lots choir natives for slaughter at $1100: lightweight other good and choice ewes S97501000: around six ears cull to medium western ewes Sg75(ft975: load Or so 72-1- b white faced southwestern feeding lambs in medium slaughter flesh $2125 OMAHA Nov "1 (APAYSDA)—Hogs— Salable and total none: compared Friday last week: Barrows and gilts $150 to lower: sow $200 off mostly 5175 and $125 to week $150 lower: bulk barrows S2500St2550: most sows gilts for 1242511'25 50 late top butchers $2575: sows $2525 Cattle—Salable and total none SOM last week Choice fed steers pared Friday to 50c higher other fed steers strong uneven steady to 50c lower most decline on good shortfeds with weight to heifers steady easier: good cowu generally 25c higherto steady lowertogradeg 25c hulls steady lower: vealere steady to 50c higher: strong killing eftiVedcl Steady low stocker and feeder steady to easier fairly liberal carryover in dealer steven load week's pens top 1140 to 1407 lb fed steers $3450' choice 1098-l- b $3300: choice 00:heifers weights $19 good $2900: good western cows bulls sausage $1750: vettlers $2100 h Corn-pare- By J A LIVINGSTON right here are the unpleasant facts Coffee has jumped another cent a pound at retail Procter SE Gamble has raised the price ot soaps shortening etc steel scrap is up $5 a ton the Central Iron and Steel Co of Harrisburg Pa a small producer has boosted steel plates $6 a ton and the steel industry declares things can't go on this way much longer without another general price boost At the same time the postman has brought shareholders the first lot of third-quartcorporation reports The reports are good Therefore they augur trouble— labor trouble Total earnings of 35 companies were just about the same as in the bumper thord quarter of 1946 However fortunes differed: 18 companies reported gains 17 decreases Targets of Tomorrow But far more important to labor leaders earnings continued to make 'excellent" comparisons with a year ago—with an aggregate improvement in This is the target profits of 39 labor is bound to shoot at when it comes to talking wages Yet most of the improvement was due entirely to a reduction in time lost due to strikes—down from last about 100000000 man-day- s year to 30000000 this year Profits are now much harder to come by than a year ago Costs have gone up So have prices And competition has increased Margins are down Proof: In the first half of this year sales of All nine-mont- hs ever:s-wher- chemicals NVorker Squeeze the other hand union leaders will assert that 1939 wage On rates are ancient history that the worker is being squeezed here and now and that the problem is to keep living standards within reach of 1945-4- 6 levels Industries which will meet this argument most freare those in which hourly quently were wages high in '39 and are high today—building tires petroleum railroads electric power and autos: Industry - Coal Building Tires Petroleum and put Printing Railroads Metric A mos power Countering that management POTATO MARKET 1 IDA140 FALLS Nov (AP)—Shipping point information on pots toe for Idaho Twin Falls and Hurley section: Vali ferins moderate tor small to medium sizes limited for large: rather light wire Inquiry demand light and limited to beat medium to larg washed stocks Market 5d39 5511 l 66 ' Wheat: e 5 no oti 461 3444 3774 5042 Dee May July Sept Oats: 20 24 32 18 19 15 23 22 25 23 34 23 19 R7 Os OS 62 226 220 lt 210 loz 2 2714 1117i 112si Log2 917k Soy beans: Dee 330 9114 23 00 22R2 2540 2520 2 5 2-- 52 1 2525 25 Al 2520 2 5 a5 2525 2500 2500 2520 YOBK BONDS grOT4TION111 CORPORATION BONDS 81Llost Cleo Sales In $1000 Chg Am & FP 5 2030 1107411— Am Ton Ss 69 11(1242- - ls 2 121 ATSF 4s 95 13 & 0 5s 95 G 1 57141- 21 ie cv 45 do 4Vie 2010 as 1' 99W-Can P 4s perp 1104 Crn P 1st 4a 49 1 rh Igo 3L4 CMSPP cv 4 tis 2044 14 601 54 44 CRIP r 41 34 1021-- io 77 Ci UT Ss-9 7 14 93 3 D&RGW 4 13 5 do In 2018 4 79 46 C 4ais 88 Ls 75 MKT 1st 4e 90 to 2 04 24 Mo P 51is 49 5 32 o 146 do g 41 75 Nat SU Se 65 510449 7714 1-- 146 NYC r 5a 2013 C 7014 lo do 414sa 2013 A as to 7: 65 do en 44 OS 13' 991- - Le 52 Pen RR 33A 2 100 114 Sn Par 41 Or 77 31 46 Rv g 40 5A -- 1 Went (In 4 12 50 3 103141 Wilson 3e 58 Total bond sales Saturday !10452003 - 4 ILIN 41-s- la Illusion The The basic problem posed before labor and management is this: World-wid- e demand for U S foods e has sent farm prices to record highs Wheat this week cleared $3 a bushel with ease So workers forced to spend more on food have less available for clothing amusements and other things Each group of workers fights to maintain its real share of the national income Each rise makes the going tougher puts greater pressure on the housewife who complains to the worker who complains to the employer Here's the irony of it When higher wages are granted industrial prices go up That in turn all-tim- support price level for farm products So the entire price level is shoved up a bit higher Each group figures it can get more for itself at the expense of the whole That's toillusion And day's it's at that juncture that we are now—as the time approaches for the third round of postwar wage negotiations L 2P034 grie7v1:114141 d3aeya: titro Sa3i022 r 14 aro $4325 SOO Jan 1 to data S45:- 9241207 year atm 11152535000l tw years ago 119756S0010 vonK cunn NEW PATtRnAvs ctrommNs Lerw I elnes In 100 (8 1esi 1 4 Amer Superpoweri pa ' If 141 I Chief Con Ming' Ifius 384 31141 Clues Service Ill 111 1341 13 13 El Bond & 3 111A 1116 111 11 Mtn City Shari Utah Idaho IT 441 Ake' alma— ii o al 'stock eye Saturday 150000 Maras year ago 2 09 2 3 ahotaa SALMI 1 ! METAL MARKETS Nov 1 frP)—)Totierseleg are Saturday's custom smelter for priceuniasa metals (cnts per pound otherwise designated): I dellverod veflev ectrolytic Copper 2114 export tail New 'fork 2111 0 2111: casting f ob refinery 21 NP lake delivered valley Lend common !btee York 131 Pt Imfeit 1460 47'1485 foreign Jul f ports 144) nominal Zinc prime western New Ynrit 11 04: filt Louis lot foreign Golf ports 10 Rest leent 15 One 1050 Ni!"ilir 'TOPIC delivered not :it prico---Leta- 21200- copper d - RE SMP3MVIS r Price of Peace Steak 60-Ce- nt (—For VIDALIA Ga Nov 1 about steady for best slightly weaker housewives in this town of 6000 small prevailing especially for tendency Few stocks present shipments are from the of peace was steak at sales Few shipments rolled Un- 60c aprice previous pound sold on frit delivered sales Sales fob shipping points ( wish track So they resumed their conversa: In 100-lsacks Russet klurbanks At mostly melIum tions about the high cost of living washed U S No 1 size 1t71 85: occasional few 'nips $380 siss small $3404 350 onU S No 2 and utiiity right where they left off two size $280 285: weeks ago when the towns three grade depending best S270 Unwashed U S occasional No 1 size A depending on size very leading grocers started a price war few reported sales $340 V 365 in which steak dropped to 39c a Wire sales fob shipping points and basis: Few pound and bread to 10c a loaf delivered sales shipping point A mostly sales washed U S No 1 size occasional With the ending of hostihtles e 365: medium size $360 mire A occasional $290 and a peace pact which called for higher Standards sacks U S No 1 no more drastic price cuts the gro295 In 10-l- b size A washed in mixed ears occasional cers returned to normal operations (M 410 basis cwt per $400 Prices to growers bulk per ewt : Trad- —60c for steak and 15c for bread sales few Too reported ing very lightto quote arcka Chief Coneollelatet 10 eariosits: ler4t 4 Gemnt 1: l'Inue Panoarel Piieholl Consolletated 1: 4 Tank 2: Turows 11111 Iron a010062 1 it L Garit v 4 aliica 1 Centennial Lea Itinattant V S linen 5305 tons: Combined Itetalit Reduction Co 440 Park City Now Park 1570 carload!: Park ttalt Consolidated 617: Park Utak ICetty 330 Sliver King Coilittoci ( Cons) 344 b CHICAGO STOCKS Co Armour Comwith Edison General Motors Mid West Corp Sears Roebuck Swift at Co 300: 300i 100! 200! 1004 Low Close 1441 1411 281i 277i1 28 60 59711 60 151AL 151411 38510 15141 3S 3311 33310 Saleist High 6041 & I I 141 Total sales Saturday 12000 bond sales Saturday none 'bares S L BANK CLEARINGS 8 7628274 DO bank dahlia rriday's 8295645N Sans day last Year 30 8 860 Sturdarn eearinge 6 60276621 Same day last year 9449 84) 5 Week's cleartnra Same week last year 646 40842603-1- 6 RENO Nov 1 (NYN) polo-playi- Terenty-four-ps- ng un New Distributor For I a I - : AMmEP L The Engines Zxperience Built :WWWW7 Sturdy oconomiccd dsponsiolste powof for shovels trucks somprossors 'monsters tronchors tenors povors sovrmitts erushors etc SALES ' UNUSUAL OPPORTUNITY r7 - EXECUTIVE S1:1VICE rir IMP "Pop Leao Is available to a high caliber mane capable of directing a manufactur- ) ing corporation with outlets through jobbers and 7000 professional and shops in United States Mexico Lake Salt Canada Headquarters City where position is to be filled Gross volume 1947 nearly $1000000 This will increase steadily High remuneration for services plus sound rale on investment in capital stock make this a truly unusual ext 35 Phone opportunity iaChilletlP 9vvspr 90 - Salt VI 1 0 f A Mrs Cynthia Dunn Cochrane daughter of James Dunn ambassador to PRODUCE MARKET from Italy won a divorce Saturday AlexEGGS husband her Cartoned Priees Grad A—Largo 65073c modture 61 ander Lynde Cochrane on grounds of extreme cruelty They were a 640 Grad a—large 62 065a BUTTER 17 1942 Property score 77e: 92 veer "so married Jan Ninety-M- r and custody of their daugh90 core T le rights CIELZAZ ter Dianna 3 were settled In a 42 e I d triplets loaf 44e sealed agreement Pound longhorns 43e : 4iili7l7jf: I 09 Divorces Polo Player — top-cho- ic " 1054 01 304NI 350 347 25 10 2211-- a 2111-- 3 20214 351 3 33 347 2290 2530 2505 2500 2320 2g116 i49 242 74i 41-s- 211 the government 2 2 2134 20434 103 July 2 9514' 223 4 11214 Dee May Moos 9444 2 $12 2 44 2 43 2A5NL 2 52 245112 227 222 21214 203 12 ' Law 2 9414 $ 22 92 51 124 I 11141TIDAY111 13 16 25 14 el ilit 60 71 70 72 57 57 961 IsTEW 4 mount 167 184 104 150 112 137 150 137 131 123 121 103 415 125 2 2S31 May 24912 July 243 ley Sept Corn: 5 ti nrrunts GRAIN CHICAGO Nov Open 12 -- t raises : 27 13 62 62 85 i4 P2 69 96 52 135 115 111 62 Earnings since change latest S e p i Wartime l 1939 Peak data) 34 $ 173 116 A 11 will argue: People are living better than ever before in U S history Weekly dollar wages have since September gone up 111 1939 and hourly earnings 99 The cost of living is up only 62 True the weekly pay check hasn't kept pace with living costs since in that month January 1945 But workers put in 44 46 48 and even 50 hour weeks and got large wartime bonuses Now overtime work has fallen off Yet the worker is getting more per week in dollars— $5042 versus $4753—for putting in less time The argument will vary—indusin try by industry Weekly wages so auto plants have not advanced fast as in textile mills That's because hourly rates in the textile industry were only 46e in 1939 as 5953 nm71 51499 tteol l: e c romeninry Chemicals Tleptione Textiles Tobacco All srentitaAturtrig Cost of living Hourly - Although winds of 20 to 30 miles ast bour were recorded in th e southwestern wheat belt neither official nor pnvste Sources mentioned any dust blowing wheat belt however went through amajor tmther day wibtout getting any tpood moist ure Wheat elosel 14 e to le higher rteceetw 141 her $21151e COCT1 er to le higher 2 27s and edits teA'a $2 271t riember 14 c lower to keit blither December 11144 1 12 Ie eon of the lat 4iiin ff In wheat tat lowed a M Innen twlits report of a ratiie ton in the trading basis tor cash It beat With trading light mal orders Unfenced the market rather sharply Noting this James E Bennett & Co aid: Riothd the Commodity Credit Corp reenter the wheat market CM a barter scale there is no doubt that with we present thin be markets substantial gains or aught readily acoreci" Cash corn dealers reported a good ahltsping demand for the yellow cereal presumably fromIn the east lard were dun and r-- al Dealings little changed at Se lower to 20e aprices November hundred pounds higher 322 S2 lower' to in line roiled tee lc Soybeans with a reduction in bids for the teem article November $352 33214 Laminas woes Mir Amount change Lard : eie pt Wartime t latest Peak Nov data ) 1939 Dec tie 14 163 $6709 103 Jan 13 6330 -- 3 Mar 60 6206 8 75 Mal 6001 'Weekly Industry department stores in Massachu- Coal Ruilding setts rose 9 declined 11'Irea earnings 36 Petroleum and pub Here is the U S dilemma High Pr:nting Railroads Electric power invite demands corporate profits a for increased wages At the same Autos See Elec machinery time higher prices- especially of Chemical food and clothing make it harder Tlephnne for the worker to get by to main- Txtites oomeco tain his living standards Living A mit nIf acturing of liVitte coat costs are up 28 since January 1945 Weekly wages have gone up So argue labor leaders only 6 workers are squeezed The pay envelope buys 17 less (see chart) When management offers a can't-affor- d rebuttal union leaders will point to profits Management's Case tne time wheat was ahead several rents but moderate selling pressure toward the close canceied the major part ot tate advance against 93c in plants When the war broke out manufacturers e began bidding for workers Textile mills had to raise the ante to hold on to help Auto makers who paid high to begin with did not have to give such big increases percentagewise The following table tells- - the story It shows that most managements will be able to assert that weekly and hourly earnings have outstripped living costs since 1939 This is notably true in textiles to'bacco coal mining steel and er all r " tall City CO Idaho Falls PARTS |
