Markets rally as corn leads with strong Fed review
Firmness returned to the corn market after an early dip as traders bullish on a federal reserve bank review that said demand for commodities outruns supply. May corn at 1.35 to 1.355, July at 1.325 to 1.315. Rye weakened on foreign exchange breaks while oats held steady.
MENTIONED IN THIS ARTICLE
Chicago
Federal Reserve Bank
Seaboard
New York Stock Exchange Moves Amid International Credit Turmoil
The day’s listless market showed indifference despite a weak international credit scene with London and continental rates plunging to new lows. United States Steel hovered near highs, while rail shares faded and bond markets barely followed the stock strength as investors awaited clearer foreign exchange stabilization.
Outside buying in market again and steel shares rise
Outside buying renewed in several specialty issues and strong market tone last sessions attracted by New York advices to Lauzier-Wolcott. Renewal rate on money advanced while exchange showed extreme weakness. Steel shares gain favor with bullish traders and turnover in steel grows. Money situation and weak foreign exchange deter broad buying in stocks at present.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
United States Steel
The
Steel Corporation
United States
New York
Lauzier-Wolcott
Foreign Exchange Department
Chicago Livestock Prices and Receipts January Market Report
Hog receipts 57 000 a weak market with most prices lower. Cattle receipts 21 000 soft prices across beef steers and cows. Sheep receipts 12 900 and strong demand for lambs and ewes with varied price ranges. Top hogs 15.75. veal calves 17.50 to 19.25. lambs 19.20 to 21.35.
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Chicago
Spokane Livestock Prices Rent Outsteady Market
Spokane market reports no hog receipts and steady to firm cattle and sheep prices. Prime mixed hogs bring 15.75 to 16, prime steers 10.50 to 11.50, cows 9.50 to 10.50, and lambs 15 to 16 with other ranges shown for stockers, feeders, and yearlings.
Hogs and cattle market report from South St. Paul
South St. Paul January 27 hog receipts around 9000 with prices 20 to 40 cents lower. range 15.20 to 15.40. bulk at 15.40. Cattle receipts about 8000 steady market. fat steers 6.50 to 7.50, cows and heifers 6.00 to 11.75, calves up to 7.18. Sheep receipts 1000 up 50 cents. lambs and yearlings 10 to 12.25, ewes 5 to 11.
MENTIONED IN THIS ARTICLE
South ST. Paul
South 8St. Paul
Sclower
Liberty Bond Prices Forecast Market Snapshot
New York January 27 Liberty bond prices reported at 2 55 p m show first 4s at 98 90 second 4s at 90 70 first 4 4s at 92 18 second 4s at 91 08 third 4s at 93 40 fourth 4s at 94 Victory 3s and 4s both quoted at 98 34.
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Liberty
New York
Financial Market Fluctuations Reported Across Currencies and Commodities
Sterling opened at 357 percent and fell to 355 percent as a new low. Money markets show 8 percent, while London silver quotes rise to 824d. Dividend declarations include American Hide and Leather 1 percent payable April 1 and Liggett & Myers 3 percent payable March 1. Copper, lead, and spelter futures edge higher. bond-like rates hover around 8 to 10 percent. Flour mills cut activity due to car shortages. rumors of tire price hikes pending March.
MENTIONED IN THIS ARTICLE
Heilbronner Company
Sterling Exchange
London
Italian Bonds to Be Sold in USA
The United States treasury signed off on a $25,000,000 6 percent Italian bond issue dated February 1. The bonds will be offered at 97.50 with accrued interest and include a conversion privilege choosing dollars or lire at seven to the dollar at maturity. Issuance is expected in early February.
MENTIONED IN THIS ARTICLE
United States Treasury Department
Money Markets Open With Steady Sterling and Strong Time Loans
Money markets in New York show Sterling demand at 355 with cables 255 percent. Francs demand 12.92, cables 12.90, Guilders 38 and 38.75, Lire 15 and 14.98, Marks 103 and 105 with time loans solid at 60 90 days and six months around 74 to 8 percent. call money strong with bids at 9 percent and loans at 10 percent.
MENTIONED IN THIS ARTICLE
New York
Mercantile
Bar Silver and London Silver Rates Reported
Bar silver in New York at 1.34 per ounce with Mexican dollars at 1.02 and a half. London silver quoted at 824% per ounce with money and discount rates unchanged at 3 percent.
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New York
London
Zinc Market Steady on East St Louis Delivery
Metal market report from New York on January 27 notes zinc prices as steady with East St Louis delivery at 9.07 percent of mamast. Other items in the market show no change.
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New York
East St. Louis
Mamast
Revenue mine pushes development near Norris Madison county
G D B Turner reports Montana Power completed transmission line from Madison dam to Revenue property. A 700 cubic foot Ingersoll Rand compressor driven by a 100 hp GE motor is installed, with an electric hoist planned for the new shaft 900 feet from the old. Over 100 feet of shaft have been sunk and timbered, with surface work finished and a new mill aimed for spring. De Forest Candee and Howard Candee of New York expected February 1 to inspect progress.
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G. D. B. Turner
Revenue
Norris
Madison County
Montana Power Company
Madison Dam
Ingersoll-Rand
General Electric
Montana
de Forest Candee
Howard
Candee
New York City
Mines Revive Output At Interstate-Callahan Mine In Spokane Chronicle
Spokane Chronicle reports steady output gains at the Interstate Callahan mine with last month’s ore shipments totaling 3900 tons of lead concentrates containing about 60 percent lead and 20 ounces of silver per ton. A new ore body on the 600 level east of the fault widens the vein to nine feet and adds a large reserve, grading 31 percent zinc 34 percent lead and 7 ounces of silver per ton. A gasoline locomotive is installed at the Colorado mine to move ore to a new 900 ton bin with skips due mid month.
MENTIONED IN THIS ARTICLE
Interstate-Callahan
Spokane Chronicle
Colorado
Butte and Hancock Mines Plan Deep Shaft Work and Shipments
Local reports indicate increased daily tonnage to 500 with copper grade held at 6 percent. Work has begun on sinking No 2 shaft from 2050 to 3050 feet, with a crosscut and raise to connect with No 8, enabling No 3 to be lowered without affecting hoisting. Hancock Consolidated resumes ops and readiness for first shipment, with 75 miners employed. Winona mine at Houghton produced 147,420 pounds of refined copper in December. January output expected to reach 150,000 if normal conditions persist.
MENTIONED IN THIS ARTICLE
Butte & Superior
Hancock Consolidated
Hancock
Winona
Houghton
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