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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Aug 31, 1920
Page
12
Markets show weakness as wheat declines 2 to 4 cents with December at 2.33 and March 2.29. Corn and oats move mixed while hogs lift provisions. grain futures detail No 2 red wheat at 2.54 and eggs near 49 to 50 cents, with butter at 43 to 44 cents and higher receipts in Chicago.
The New York Stock Exchange reports continued price declines in industrials amid dull trading and limited hope from improved rails. Oils, equipment, steels, and related shares drop 1 to 3 points while rails show resilience. Call money reports influence and a mid day broad decline precedes a partial recovery. Pierce Arrow declares 2 percent quarterly dividend. national bank resources rise to 22.20 billion.
New York financial news shows prime mercantile paper and exchange rates for multiple currencies. Sterling demand at 3.55 dollars, francs around 6.90, belgians about 7.36, lire 4.61, marks 2.00, with New York Montreal exchange at a 10 percent discount. Time loans strong at 8 percent for various terms. Call money strong, bid 10 percent, offered 10 percent.
New York August 30 copper at 19 cents spot and third quarter. Iron steady with No 1 northern 50 61 No 2 northern 48 49 No 2 southern 45 46. Tin easier spot and nearby at 46.50 futures 46.75. Antimony 7.25. Lead steady spot 9.09. Zinc nominal East St Louis delivery spot 8.00 8.15.
New York reports domestic bar silver at 64 1 2 cents per ounce and Mexican dollars at 71 1 2 cents. London quotes bar silver at 59 4 8 pence per ounce with money at 5 percent and discounts on short bills at 6 percent.
The Davis-Daly company reports for the second quarter ended June 30 1920 that construction of a steam plant and coal bins is nearly complete. About 275000 tons of assured ore reserves are blocked out, with emphasis on development over big tonnage due to weak markets. Copper and silver production totals are given from the Hibernia and other mines, while notable strike findings occur at the Robert Hmmet and Little Nell mines and water drainage work progresses at Flohart. Exports figures from silver to India, China, and Hong Kong are cited for the fiscal year ending June 30, 1920.
Libby Aug 30 Notice has been received from the war department that 12 World War veterans have had applications for Victory medals and battle clasps approved. Some emblems will be silver for those wounded or gassed in action. Medals and clasps expected to arrive soon. Veterans listed include Rutherford C Ellis Jens C Jensen Joseph Ke Abarr Robert M Griffin Jr Vernon L Crotteau Forrest W De Lapp Nelson Babcock Cecil Co Gompf Harold W Miller Raymond Seigmund Irving Ke Adams Erford Ke Jaqueth.
Libby Montana August 30 vacancy on the Libby school board due to John V. Wall's death has been filled by W. N. Curtis. The appointment was made with Mrs. C. M. Spence county superintendent of schools presiding. Curtis previously served two terms on the board and was urged by parents and taxpayers to return.
Libby August 30 C Ed Lukens head of Lukens Hazel Mining company reports assurance of a water wheel shipment within days and expects the mine power plant to operate within two weeks The mine has 12 foot wide vein ore blocking in tunnels worth 1 250 000 ready for the mill The property’s success is seen as crucial to the Libby mining district’s development
Cattle receipts 28 000 market slow. Choice steers steady to strong, good grades steady to 25 cents lower. prime steers bid 17.75, bulk 15.25 to 17.40, grassy kinds 9 to 14.50. Bulls slow steady. cows 9.50 to 12.75. Hogs receipts 24 000, generally 25 cents higher. top 16, bulk 15.25 to 15.90. Sheep receipts 28 000. lambs steady to 25 cents lower. packers top native lambs 13.75, good Washing ton 14.50. ewes 7.50. feeders slow.
Hogs receipts 2500 market active mostly 25c higher bulk mediums and light butchers 14.75 15 top 15.25 strong weights packing grades 14.40 14.75. Cattle receipts 15000 beef steers and butcher stock steady to 25c lower. bulls steady. veals 25c 50c higher. stockers and feeders steady to 25c higher. Sheep receipts 25000 killing grades strong. feeders steady. best early sale lambs 138.50 some held at 13.75. best ewes weth ers 7 8. best sale feeding lambs 12.50.
Spokane market report shows receipts for hogs at firm tops 16.50 to 17.00 for prime mixed and 14.50 to 16.00 for pigs. Cattle receipts 301 with steady prices across grades. prime steers 9.15 to 10.00, good to choice 9.00 to 9.15, canners 2.50 to 4.00, calves 10.00 to 13.00, stockers 5.00 to 8.00. Sheep receipts none with steady market. prime lambs 9.50 to 10.00, yearlings 5.50 to 6.50, wethers 5.00 to 6.00, best ewes 2.00 to 5.00.
New York on August 30 reports raw sugar, nominal refined and dull, with fine granulated at 17 17.19 cents a pound as market activity remained subdued.
The Lauzier-Wolcott market review notes stronger credit resources in federal reserve banks to meet autumn crop movement and other demands. It cites easier money conditions, disentangling railroads, and revised business readjustments. U S June 30 member deposits reach 22 196 731 million, up 1 317 187 from 1919.
The Missoula Sentinel notes that living costs are higher now than in the past, attributing part to wartime effects and part to current conditions. It suggests weighing the value of life today against past times in a reflective, editorial tone.
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