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.
July 4, 2013 |
On a recent installment of TBS' "Conan" with Conan O'Brien, sidekick Andy Richter was sent to Santa Fe, N.M., for the press junket for "The Lone Ranger," but stars Johnny Depp and Armie Hammer had better things to do than talk to him. Perhaps that was just as well, because faster than you can say "hi-yo," Richter was cozying up to the film's scene stealer: the 11-year-old quarter horse who plays the masked man's trusty steed and goes by the name...
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.
September 2, 1988 |
Early in the summer of 1986, prospectors began taking another big whack at this towering mountain. Nenzel Hill was 7,275 feet high before the whittling away began two years ago. Today the highest point on the mountain is 7,100 feet--175 feet lower. One section of the peak has been lowered 400 feet.
November 17, 1987 |
Attorneys for the Hunt brothers of Dallas said Monday that the price of silver skyrocketed in 1980 in reaction to extreme world events and not because the Hunts were buying millions of ounces of silver. The government claims that Nelson Bunker Hunt, William Herbert Hunt and other big money traders made rapid and concerted silver purchases to manipulate world markets, which caused thousands of investors to lose billions of dollars.
April 27, 1987 |
Silver, a dull sister among precious metals since hitting record highs in 1980, is now the shining star performer. Sparked by concerns about tightening supplies and a belief that it was underpriced relative to gold, silver has risen about 60% in price in the past month alone, far surpassing the 13% price jump in that period chalked up by its more glamorous sibling. Handy & Harman, a leading precious metals user, quoted a cash price for silver Friday of $9.