Magazine content is available exclusively for TIME subscribers.Business: Homestake
The difference in altitude between Wall Street and the Black Hills of South Dakota—5,300 ft.—is no greater than that between the ruck of stockmarket quotations and the price of stock in Homestake Mining Co., most eminent Black Hills business. Biggest and most consistently profitable gold mine in the U. S., Homestake rose during the Depression from. $65 per share in 1929 to a point where, at more than $300 per share in 1933, it was the highest-price active stock on the New York Stock Exchange. Since then it has continued upward to the rarefied...
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