The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-01-17
RECORD IN INDUSTRIAL
FINANCINGANNOUNCED /
BY ANACONDA "COPPER"

NEW YORK, Jan. 1.-THE offer
ing OF s1OO,Ooo.0uO of SO-year. 6 per
cent first consolidated mortgage
bonds of the Anaconda Copper com
pany, which will be made tomorrow
by a syndicate headed by the Nation
al City company and the Guaranty
company to provide funds for the
purchase by the Anaconda company
of the Chile Copper company from
the Guggenheimer interests, is said
by bankers to be the largest single
block of Industrial financing ever
done. An offering of s50.000,0o0 de-
bentures of the Anaconda Copper
company will be made later.
1t was said today that the Guggen-
heimer brothers will receive $77,-
100000 for 100000 shares of the
Chile Copper company, which carries
with it control of the company. The
price paid per share was said to be
s35.
The Guggenheim brothers have
stated that they will remain large
minority shareholders in the company
after this Anaconda company assumes
control.
which will make general inyestiga-
ton OF the convict system during the
recess
Governor Brandon's recommended
tions for the temporary retention of
the lease system came In that por-
ton of his message devoted to the
convict department and the states
e1eemosynary institutions.
Other recommendations regarding
-. 80
the governor follow:
Further appropriations for the sup
port of the states insane.
Appropriation of $4,000 for equip
ment for the Alabama Home for Fee
ble-Mnded and maintenance APP
Precipitation at the earliest possible
moment
Purchase of additional property for
tho use of the Alabama Boys Indus
trial school.
Proper maintenance for the state
schools for deaf. dumb and blind at
Talladega.
Careful reading OF recommends
lions of state health officer with as
much additional aid as possible.
Additional appropriations for tho
state child welfare department and
the extension of tho departments
activities as much as possible with
the condition of the state treasury.
Eliminate Duplication
In his first message to the legfsla-
ture, which will mako laws during
the four years of his term. Governor
Brandon today called for the abolf-
tion of the state board of control and
economy created In 1919, for the
abolition of all tax adjusters and un-
necessary tox agents and for the re-
duction of the number of registrars.
Governor Brandon also requested
tho legislature to create Joint com
mittee and charge 1t with the duty of
investigating every department of
the state government and with the
responsibility for recommendations
for the abolition of all unnecessary
officials and employees and for the
elimination of duplication of state
service not necessary In the interest
of efficiency.
In order that the reccss committee
might work and a special committee
might read the proposed state code of
laws prepared by Judge James j..
Mayfield. code commissioner. Cover
nor Brandon recommended that the
lawmakers adjourn within the next
10 days TO meet again IN April OF
some other convenient time.
He requested tho legislature at it's
short session not to enact any laws
except those to meet emergencies and
that no appropriation whatever be
made during the present session ex-
cept for the state home for feeble
minded.
Omits Details
Governor Brandon's message COW
cred 80 typewriter pages. The gov
ernor did not attempt to go into de-
tails regarding his various sugges-
lions. He left the details for another
message, which he will prepare dur
ing the next few months, and will
submit to the lawmakers when they
return for the completion OF their
quadrennial session later in the year.
Only three committees were pro-