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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jul 30, 1924
Page
10
Wheat futures eased on profit taking amid rains in Canada with September at 1.32 1 2 and December 1.35 1.35, corn steadier though weak after wheat, oats soft from heavy selling, and hog driven provisions rising. Trading featured rapid shifts as buyers faded and bears held the advantage with weak arrivals and mixed domestic demand.
Wall Street extended gains into late trading before profit taking pulled prices back on speculation United States Steel may not sustain a 60 cent extra dividend. Steel touched 104% intraday, closing mixed as industrials and utilities rose then eased. Volume topped 1.1 million shares with brokers' loans up about 5 million in two weeks.
JPward surge of prices features prominently as the market closes with gains in stocks and commodities. The European situation, France evacuating the Ruhr, and rising hogs and grain prices underpin stronger security values. International Harvester notes and anticipated share rises in Standard Oil and others frame a broad bullish tone. United States Steel maintains the dividend pace while quarterly earnings climb, signaling continued market optimism.
Agricultural dispatches from Chicago Kansas City and Omaha show hogs steady to higher with primes near 11 dollars per hundredweight and mixed weights selling. cattle including fed steers and yearlings higher in spots, veal and stockers steady to higher, lamb receipts strong with native and grade tops around 13 dollars. Regional notes from St Paul Denver Spokane Portland detail similar firm to higher hogs and steady cattle and sheep prices, with widespread demand from shippers and packers.
New York July 29 American Smelting and Refining Co raises lead price to 11 8 0e per pound. Copper firm electrolytic spot and nearby at 6.05e futures 6. Antimony London spot 67e, electrolytic 68 futures, £ Tin spot £242 64, futures £242 12s 6. Lead spot £33 158, futures £32. Zinc spot 32 128 64, futures £32. Bar silver New York 29 July Mexican dollars 52½ cents London 34½ cents. Money 3½ percent.
An anonymous donor gave 1,200 for a housing plan in Bordeaux to encourage population growth. A young married couple would receive reduced rent totaling two thirds of the rent, with a 10 percent decrease at the birth of each child, under a six to twelve year timeline with multiple births anticipated.
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