Word: coppering
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...Copper; 9½ Cents. When copper had tumbled to 14? per Ib. last spring, M. Fernand Pisart, managing director of Societie Generale des Minerals of Brussels, potent marketer of African copper, arrived in Manhattan (TIME, May 5). Roundly was it hinted then that all copper countries would cooperate, the price be held. Last week, just after copper had dropped to a new low of 9½?, a level not witnessed since 1895, it was disclosed that once again M. Pisart would visit the U. S. Again it is hoped that his arrival may mean an agreement to curtail African production...
...lace in Philadelphia, later built up one of the greatest metal trusts in the world (American Smelting & Refining Co.). Constant aide in his father's metal projects was Daniel. Early he went to Pueblo, dinky distributing town of the southern Colorado Rockies, to plunge the first Guggenheim money into copper. Eventually the Guggenheims held chief influence in three of the world's greatest copper combines, in the nitrate industry of Chile, in the diamond fields of the Belgian Congo. Recently Daniel Guggenheim resigned from association with 14 great corporations...
...Copper Deal. Making the best of the demoralized market for copper, Phelps-Dodge Corp. has slowly gone about a large expansion program. Recently it acquired Nicholas Copper Co., big copper refinery, long affiliated with Phelps-Dodge and Phelps-Dodge's great & good friend, Calumet & Arizona Mining Co. Last week it planned to absorb National Electric Products Corp. Since National Electric is a fabricator of metal products, Phelps-Dodge becomes a complete unit in the industry. Other complete units are Anaconda Copper Mining Co. (controlling Anaconda Wire & Cable Co.), Kennecott Copper Corp. (controlling Chase Companies...
National Electric is a $30,000,000 company, sells a practically complete line of wires and cables and wiring devices. Its productive capacity is in excess of 200,-000,000 Ib. of fabricated copper and 150,000 tons of steel annually. Some of its trade-names are Sheradnct, ABC, Nepco, Habirshaw...
...Other copper news last week included rumors of further price reductions, an-other dividend cut by Anaconda Copper, now on a $2.50 basis against $6.75 last year, and by Andes Copper, now on a J$1 basis against $2.25. Inspiration Consolidated Copper, on a $3.75 basis last year, and Greene Cananea Copper, on a $7.50 basis last year, both passed dividends. Phelps-Dodge's stockholders who last year complained because the company retained a conservative $3 dividend rate are now among the few copper shareholders who have not had their income reduced...