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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Aug 12, 1924
Page
12
Wheat prices slide on higher receipts as markets close unsettled. Chicago quotes show September around 1.264 and December 1.30, with corn oats and provisions also softer. Domestic supplies and bearish crop report expectations weigh, while frost and European demand influence soon.
Steady accumulation of high grade railroad shares drove a strong session on the New York Stock Exchange with several issues setting new yearly highs. Dealers noted buying in iron, zinc, copper and dividend stocks while oil shares were muted by dividend omissions and price cuts. Sterling strengthened, money markets eased slightly, and European bourses rose in sympathy.
A stock market note from Lausier Wolcott and Co. says rails drew interest while leaders slumped. Cuyamel Fruit traded near year lows after earnings showed nonpayment of common dividends, though the second quarter improved. Industrials were quiet, brokers attracted by high quality issues, and copper and ore developments with Tutte and West Side Mines featured in the day’s activity.
Vats weakened with other grains while cotton opened higher on foreign buying and a leading bull's bids. New Orleans reports Dallas papers note scattered cool rains in Texas not in official reports, with crop ideas suggesting a yield near 13,000,000 and a lower trend in prices as sentiment remains bearish.
Dept of Agriculture reports hog receipts of 56 000 with weights from 140 to 325 pounds and prices from 9 50 to 10 20 for various King grades. Cattle and sheep data show mixed tone with weak to steady feeds, butchers and sows trading quietly. regional quotes include Minnesota Dakota and Nevada figures for fat lambs and calves.
Spokane market notes receipts 280 hogs and cattle values across weights with prime steers around 7.00 to 7.50 and medium to good at 5.76. Cows and heifers fair to medium 4.75 to 4.25, canners 1.50 to 2.50, bulls 3.00 to 2.79, hogs heavy and rough categories listed with prices from 9.00 to 11.00, prime lambs 8.50 to 10.60 and stockers 5.00 to 9.00. Sheep market steady with prime lambs and yearlings noted.
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