August 8, 2001 |
Silver futures fell to an eight-year low Tuesday, as slowing economies reduce consumer demand for photographic film and paper containing the metal. U.S. film sales probably will fall 2% this year, the first decline since 1992, said Caroline Sabbagha, an analyst at Lehman Bros. Lower sales of paper and film contributed to a 37% drop in second-quarter profit for Eastman Kodak Co., the biggest single user of silver. Silver for September delivery fell 2 cents, or 0.5%, to $4.
November 18, 1987 |
A federal judge refused Tuesday to drop Prudential-Bache Securities, Merrill Lynch & Co. and three other defendants from a multimillion-dollar civil lawsuit charging that they conspired with the Hunt brothers to manipulate the world silver market. "I conclude that the record contains sufficient evidence from which a reasonable jury could find these five defendants participated in a conspiracy to manipulate silver prices," U.S. District Judge Morris E. Lasker ruled.
August 17, 1987 |
Time was, the traditional American bride chose a husband, a honeymoon site, a church, a china pattern and a silver pattern, sometimes in reverse order. Then came "the era of the flower children," says George Holmes, editor of Jewelers' Circular-Keystone, a trade magazine, "and formal dining went out"-- along with the other stuff. Even with today's return to such traditions, silver--one of America's oldest crafts--may not make the lineup.
December 24, 1987 |
Two brokerage houses accused of joining in a conspiracy to corner the silver market in 1979 and 1980 have paid Minpeco SA, Peru's leading minerals company, a total of $34 million in an out-of-court settlement, Minpeco said Wednesday. The two brokerages--Merrill Lynch & Co. and Prudential-Bache Securities Inc.--were among several defendants in a multimillion-dollar civil lawsuit.
March 5, 1988
Could we have a little more realistic perspective on life from the L.A. Times sportswriters? I am an American and I was ecstatic when Brian Boitano won the gold medal, but I was saddened to see the headline of Mike Downey's column: "Orser Goes 0 for the Olympics, Finishing Second Once Again." I was saddened because Downey denigrates the accomplishment of Orser and of Canada, as if only the first-place finisher deserves approbation, while all other finishers are "losers." When Orser won the silver medal, it was truly a great moment for him and for Canada.
CALIFORNIA | LOCAL
July 26, 2012 |
U.S. teammates Jack Davis and Harrison Dillard were locked in a close race in the final of the 110-meter hurdles at the Helsinki Olympics in July 1952 when Davis, who was barely ahead, banged into the ninth barrier and lost his slim lead. At the finish line, the sprinters were clocked at an identical 13.7 seconds, a new Olympic record. But a photo finish showed Dillard first by an eyelash. Four years later, Davis lined up in the starting blocks of the same event at the 1956 Melbourne Olympics.
October 30, 1986
James A. Baker III, secretary of the Treasury, struck the first U.S. bullion silver dollar in history. It was the first of 1 million, 1-ounce American Eagle silver dollars to be struck at the San Francisco Mint by Nov. 24, when they will be distributed first to 27 bulk dealers nationwide, then to retail outlets for public sale. Hundreds of guests looked on as Baker struck the silver blank twice, as is done with special coins to sharpen the impressions.
June 2, 1988 |
Texas oil tycoon Nelson Bunker Hunt denied plotting to corner the world silver market in 1979-80, stating under oath Wednesday: "I never participated in any conspiracy with anybody at any time." Hunt and his two younger brothers are being sued for $150 million by a South American silver company that claims the Hunts manipulated the world silver market eight years ago.
CALIFORNIA | LOCAL
April 2, 1989 |
Like pale reminders of a bygone era, the silver objects filled the room with their gentle hue. Clustered toward the front were an array of tiny boxes in the shapes of elephants, deer, birds and turtles. Nearby in a glass case, a set of bells decorated with dancing girls daintily adorned a shelf. Scattered throughout were intricately carved tea sets, serving bowls, vases, platters, lip balm containers, cups, salt shakers and wedding sets.
March 16, 1999 |
Stocks, yes; precious metals, no. That's a quick summary of Monday's market action, as gold and silver suffered their biggest declines since August while the Dow Jones industrials neared 10,000. March gold futures sank $5.80, or 2%, to $286.80 an ounce in New York on increasing chances that the International Monetary Fund will sell some of its holdings. Silver futures for March plunged 20.7 cents, or 4%, to $5.