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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jul 09, 1924
Page
10
The Associated Press reports a sharp advance in corn with July futures hitting a season high and No. 2 yellow trading around 1.02 to 1.03 per bushel. Wheat and oats showed mixed moves as rains, receipts and crop conditions influenced values while hogs kept firm.
New York stock prices demonstrated strength with over twenty issues hitting year’s highs. Utilities and rails led gains aided by easy money, improving steel trade signals, and speculation on Democratic nominee. Major advances included American Water Works 104, Union Pacific 187 1/2, Illinois Central 108, and United States Steel breaking 101 for first time in four months.
Analysts note a steady, orderly rise across rails and industrials with new high levels. Gains support expectations of dividends and strong commodity sectors, as companies like Sloss, American Water Works and Brooklyn Union Gas show strength while new oil prospects emerge in Texas and Arizona.
Across Denver St Paul Los Angeles and Portland, hogs cattle and sheep receipts ranged from steady to higher with top hog prices hitting $6.90 in Denver and calves and vealers showing strength. Cattle led by heavy steers and yearlings traded firm while light calves and sheep posted varied but generally steady levels.
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