Word: copperizing
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Gold, cotton, copper, wheat and grasshoppers were the chief contents of President Hoover's mind last week. With his approval the Federal Reserve Bank of New York joined the Bank of France in advancing the Bank of England credits of $243,000,000 to make up for the short-term loans Britain had agreed not to withdraw from Germany (see p. 16). He announced that the Department of Agriculture was working on relief measures for the 'hopper-infested West (see p. 12). And from U. S. Ambassador Frederic Moseley Sackett in Berlin came a suggestion involving cotton...
...likely that Germany could or would take any appreciable amount of wheat from the Farm Board. But of U. S. cotton on credit Germany could make great use; its textile industry was deeply depressed and in need of just such a stimulant. During the discussions U. S. copper was worked into the general scheme but it did not get very far because U. S. producers are reluctant to sell at current low prices (7¼? per lb.) and German manufacturers are not anxious to buy because of their inability to market their finished wares...
German businessmen greeted the Ambassador Sackett-President Hoover plan to sell U. S. wheat, cotton, possibly copper in Germany with moderate enthusiasm (see p. 11). Commented the liberal Vossiche Zeitung...
Fire destroyed the luxurious 23-room Manhattan apartment of President Cornelius Francis Kelley of Anaconda Copper Mining Co. It was closed for the summer while Mr. Kelley & family were in Butte, Mont. Strange sulphurous fumes overcame seven firemen. Estimated loss...
...Copper Consummation. Ever since big, two-fisted Louis Shattuck Cates pulled up his stakes and left Utah Copper Co. to head Phelps Dodge Corp. it has been rumored that his company would acquire Calumet & Arizona Mining Co. (TIME, April 28). When Gordon R. Campbell resigned last April from Calumet's presidency after protesting against the deal, its consummation seemed certain. But not until last week were the two directorates able to come to terms. The merger will be effected by an exchange of stock on a ratio which, at prices prior to the announcement, was a boon to Calumet...