Markets Shake After Wheat Peak On Export News
Wheat prices collapsed after exporters offered prices following a bulge driven by inquiries from Portugal. A seaborne demand existed, then six month credit rumors and word of exporters seeking to sell caused the slide. Prices for futures and related grains fell to new lows, while hogs and dairy showed weakness and limited support.
MENTIONED IN THIS ARTICLE
Chicago
Portugal
Seaboard
Freakelgium
Falleg
Pepe
Sats
Shorts
Livestock Market Report Mixed Prices Across Regions
Chicago and Spokane livestock quotes show light demand with calves and feeders steering lower bids while hogs, lambs, and beef cattle display mixed strength. Receipts near 9 000 hogs and 12 000 cattle mark a cautious trade as buyers pare askings and traders weigh futures.
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Chicago
New York Stock Exchange Opens With Cautious Tone
New York stock trading opened amid a pullback from bull pools and popular issues, with declines of 2 to 8 points in many shares. Motors oils and food issues showed relative firmness, while steels and equipment faced pressure. Bankers remained confident in credit prospects, but the money market reflected tighter conditions amid wage cuts and a Pennsylvania coal strike. Foreign exchange showed strength in French remittances and gains in Belgian and Northern European rates. Belian loan completion spurred underwriting speculation as bond offerings looked firmer. total sales reached 9.9 million dollars. On call bids for old United States 2s and 4s were lower by 1 and 2 points respectively.
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Pennsylvania
Italy
Spain
Tle
United States
Mines and Mining A broad look at 1920 ore output and plans
A December report from Barnes-King Development notes 1540 tons of ore mined at Shannon mine yielding 14867.99 in bullion after a 15 day mill shutdown for rope tramway repairs. The North Moccasin mill is closed for January and February due to ore freezing in bins while leasers work the mine. The Kansas-Montana Oil venture, in which Barnes-King has a stake, reports casing cemented at 2365 feet near Winifred but cementing proved defective and will be redone. Merger talks among low-cost copper producers include Chile, Kennecott, Utah, Bay Consolidated China and Nevada Consolidates, aiming to cut costs and stabilize the industry. American Smelting may join. Willard mine near Melena to be developed with new shaft and winter activity. Mountain Rose tunnel near Libby advances. Lukens Hazel ships ore and sparks renewed mining activity. Silica deposit near Merritt, Chelan county, Washington, seen for glass manufacture. Clarifications on oil and mining law note that a locator need not declare to obtain extended assessment time, per congressional changes.
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Shannon
Barnes-King Development Company
Kansas-Montana Oil “Company
Barnes-King
Winifred
Boston News Bureau
Chile
Kennecott
Utah
Bay Consolidated
China
Nevada
American Smelting and Refining Company
Alaska
Mexico
South America
Willard
Warm Springs
Melena
Jefferson & Teton Mining Company
Chelan County
Merritt, Wash
Gossip From The Brokers Market Review
Financial markets show call money at high rates but sterling holds, while demand for foreign exchange stays firm. Steel and oil sectors face cutbacks and selling pressure, with copper dull and cotton prices slipping. a Wall Street trend favors reduced steel prices and higher overall volatility. Minneapolis grain reports mixed wheat receipts and bids, with no clear price rallies as market sentiment remains cautious.
Miles City Elevators Handle Large Grain Total
Miles City elevators processed 178000 bushels of wheat from Sept 1 1920 to Jan 1 1921 with most grading No 1. They also moved about 48000 bushels of flax 10500 of rye and 5000 of oats. Local buyers estimate about 25 percent of region grain remains to be marketed.
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Miles City
Miles Cy
Under Sheriff May Lose Use of Hand
Billings reports W A Combs under Sheriff severely burned while aiding officers to destroy a whiskey still as gasoline burner exploded. Doctors say loss of his arm unlikely but left hand may never fully regain use. Hospital confinement expected for some time.
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Billings
W. A. Combs
Phy Cians
Combs
New York Money Rates and Metal Prices Report
New York financial notes show prime mercantile paper at 7 percent offered and last loan rate, with exchange and francs dollars and Belgian francs quoted. Copper and silver prices are noted as steady, with bar silver at 40 pence per ounce London market moves referenced.
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NEW York Money
New York
France
Cail
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