Wheat Prices Edge Higher Amid Market Tensions
Market reports show wheat holding steady despite declines as private sources suggest German credit moves influence markets. May futures rise marginally while shipments and supplies affect pricing. international currency quotes and U.S. visible supply discussed alongside domestic shipping and oats. A secondary note from Vladivostok discusses a nationalist socialist stance shaping economic policy and foreign cooperation.
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Wall Street Holds Gains as Rail Shares Rally
New York stocks rose with railroad shares leading a broad rally as investors shrugged at foreign exchange devaluations and French bond lows. Industrials fluctuated early but rails surged on December earnings boosts, with Baltimore & Ohio and others up two points or more.
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Norfolk Island Utopia Tour Claims No Taxes and No Drunkenness
General Parnell visits Sydney and describes Norfolk Island as a modern utopia with no taxes or crime aside from one theft. He notes 800 inhabitants, many descendants of mutineers, and that intoxicating liquor is rationed by bond with no drunkenness reported. Also mentions kidney trouble cure claim and Paxson & Rockefeller closing line.
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Keep an Eye on Trouble Abroad Weekend Rail News
Foreign troubles show little near term solution as markets drift. Rail shares gain on favorable December earnings while oil and copper prices rise. Copper output hits record 500,000 pounds for 1922. rail car loadings reach 36,265,000 for 1922 with January week gains.
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Livestock prices inch up as cattle and hogs move steady
Chicago and Sioux City lead a slow market scene with hogs rising to about 8.10 to 8.50 and cattle unevenly lower to steady. Receipts totals around 21,000 cattle and 19,600 hogs across Omaha and Saint Paul areas as buyers hold firm and futures show mixed signals.
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