Markets Heat Up on Credit Report and Export Outlook
Markets rallied on news of credit strengthening the pound and potential export boosts. Wheat led gains amid forecasts of limited May 1 deliveries and active domestic buying. corn and oats rose as stocks tightened. Sugar refined prices hit a year high while flour and butter markets showed mixed movement, with receipts trimming and prices adjusting across regions.
New York Market Reacts to Britain's Gold Standard Move
The New York Stock Exchange saw mixed trading as Britain's decision to restore the gold standard boosted sterling to about $4.84, the highest in a decade. Prices held firm with light volume. key gains noted in U S Steel and various rail and utility issues, while some stocks eased amid mixed sentiment on inflation and exports.
MENTIONED IN THIS ARTICLE
Britain
Sterling Exchange
Associated Press
New York
Great Britain
Pivotal
0. S
Western Pacific
Norfolk & Southern
Seaboard
Common
Preferred
International Railways
Central America
Atlantic Coast Line
Chesapeake & Ohio
Chicago Great’ Western
Gulf, Mobile & Northern
Northern Pacific
Katy
Speciallion
American Water Works
Virginia Railway and Power
Coca Cola
National Dairy Products and
Loews Inc
U. S
Hoover
Cuba
National Distillers Products
Ward Baking
France
Buteh
Holland
Dutch East Indies
England
Restrictions on Gold Exports Spark Market Rally
The market reacted to 1¢ gold export restrictions by the Bank of England, seen as a major step toward liberalizing world finance. Sterling rose toward parity, wheat advanced, and stocks rebounded as investors cheered this policy shift and hoped for a strong first quarter earnings season from Steel. Reading and several industrials led gains while insiders and industrial alcohol faced selling pressure amid German market anxieties. Continental Motors eyed Europe business expansion, with major plans hinted by Angell as American manufacturers push toward light engines. Pullman’s aviation and express services were also noted in policy and logistics discussions.
MENTIONED IN THIS ARTICLE
Lauzier
Wolcott & Co
von Hindenbers
Bank of England
Reading
Western Pacific
Seaboard
Coca ‘Cola
Brown Shoe
Savage Arms
Fleischmann
Steel Corporation
Prentice
S'rpack
Angell
Continental Motors Corporation
Continental 14
Europe
England
Pullman Company
Pullman IL
Fete
Pullman
Peter Park Company
Maid
Wil Finanite Shine
York
Chicago
Miami
Fla
Livestock Prices and Receipts From South St. Paul Market
South St. Paul Minnesota April 28 cattle receipts 10,000 very slow fed steers yearlings and fat stock opening weak to 250 lower. calves receipts 4,500 steady to strong with good light to packers $8, few choice $6.25 or higher. Slaughter and hog bids showed mixed activity and price declines across categories.
MENTIONED IN THIS ARTICLE
Assoc
South ST. Paul
Minn
Hogs and cattle market receipts and prices across regions
Hogs receipts at Omaha show steady to uneasily lower bids from $11.15 to $11.40 for 170 to 275 pound butchers with 14,600 total. Cattle receipts at Omaha 9,000, slow and uneven demand for fed steers and yearlings, bulk prices around $10.25 for stockers. Portland reports nominal steadiness with spring lambs around $13.50 to $13.75. Los Angeles notes steady cattle sales with 63 pound heifers and 64 tops for steers, calves around $9.20, cows and bulls weaker.
MENTIONED IN THIS ARTICLE
Omaha
Portland
Ore
Angeles
Los Angeles
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Ain
Tandard
Liverpool
le Yplers
AI Duluth
Inneapolis
Associates of
Madi No
Wisconsin
NEW York Stock Exchange
Max Geott
Cod
Italy
The
Association
Mneary
Astot
Lula
London
Lausle
America
Foe Butte & Bey
Wentei
Fe Hallway
Corre de Pasco
Milwauksa
Chenaper
Davinon Chemient
Nick BR
Am International Paper
Inecott Conner
Wiacont
Norfolk
Lausier, Wolgutt & Co
Arro
Boston
Butte & Don
Itte Burine
Butte Wester
Minnie Jane
Becker Collins
Arco Unite
Willams
Wye
Borton
Lausler
Quincy
Shannon
Superior
South Lake
Winona
Tai Wolen
Anko
Bohemia Zondion
Calaveras
Maite Onis
United
Jerome Wi
Iron Cap
Jonta
Ahumaas
Lausier
Wolcott Uit
New
Bradford Se
Rouse
Cresson
Jerome Verde
Cork Province
Warner ‘S
United States
Aren Sa
Blehem Bisel
Ieios Thermies
Florence
Gutone
Stratton
Sunshine
Hunter Western Union
Dawes
Lauzier, Wolcott & CO
Walle Walle
Butte
Billings
Missoula
Beare Ot
York Cure
Spokane
Salt Lake
Logan& Bryan
Atlantic
Pacific
Canada
Voskane
Seattle
San Francis
Finlen
Montana
Retals Bank & Trust CO
Butte, Mont
Ames E Woodard
James T. Finlen
Place, Cashier
LTEAL
J Burke
First National Bank
Butte, Montana
Anwaew
Davis
Stephenson
Deorge A. Mill
Andrew J Davis Je
Porsytur