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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Aug 24, 1923
Page
12
Markets report heavy rail buying for 1924 delivery already reaching 350000 tons with expectations that total 1924 contracts will approach 700000 tons. Indications point to continued strong demand in mining and financial sectors.
The Associated Press reports a sharp September corn drop unsettled the wheat market, with late-session trading in all grains uninteresting. Wheat falls and corn, oats, and provisions move on mixed signals amid weather forecasts and a Russia to France wheat sale.
Irregular price action marked the session on the New York Stock Exchange with heavy tone throughout. Gulf States Steel rose on southern buying while United States Steel hovered near prior levels as General Motors and Mullins Body advanced late in the day and Erie stock gained on a new coal selling arrangement. Call money remained firm with rates around five percent.
Oil prices fell on reports of California gasoline cuts, easing later as demand absorbed offerings. Secretary Mellon remarks buoyed sentiment, with a notable upturn and profit taking expected. Tanker charter rates fell due to oil industry unsettlements and weaker demand, while California to North Atlantic crude quotes dropped to 82 cents per barrel. Copper remains steady despite cuts, with plans for consolidation in producing properties and strong domestic and export sales.
Annual commercial catch in the Great Lakes region sometimes surpasses 100 million pounds, reflecting vast fishing activity. The figure highlights the scale of harvest and economic importance to local fisheries, processors, and communities dependent on lake resources.
London market report from August 23 lists copper spot at £64 15s with futures £65 7s 6d, electrolytic copper spot £79 5s, futures £70 0s 0d, tin spot £191 2s 6d with futures £182 2s 6d, lead at £24 10s 8d, zinc spot £33 12s 6d with futures £33 12s, market shows mixed gains amid thin activity.
New York Aug 23 copper steady at 14 14½ cents electrolytic spot and futures. Tin firm at 40.25 dollars. Iron steady with no change. Lead steady at 6.60 to 6.75 cents. Zinc steady at 6.50 to 6.55 cents for East and St Louis spot and nearby delivery. Antimony pot price at 7.62 cents.
In New York on August 23 bar silver valued at 47 1/2 cents per Mexican dollar. London on August 23 quoted bar silver at 80 1/16 pence per ounce. No further details available from Henry Not quoted.
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