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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jun 06, 1923
Page
12
Wheat futures rose as traders priced in improved demand and possible German French settlement talk, with July near a season high and oats and corn also moving. Prices listed for No 2 hard and northern wheat, corn futures varied, and nearby ranges showed modest gains amid market volatility.
New York stock market activity showed little public interest with overall small total transactions. Prices fluctuated as brokers reported bids and asks. Baldwin moved at 120% to 130% after a sale, closing at 132% up two points. American and Lima Locomotives and Pullman rose about one point, while American Hide Leather and Central Leather fell to new year lows. International Harvester also dropped to a new low, and oils declined with Phillips Petroleum down nearly three points and California Petroleum off a point. Rail shares gained on dividend hopes, with New York Central outlook improving after a first quarter surplus. Call money opened at 4% and rose, with time money offering around 4% as well. Foreign exchanges showed firmer tone with sterling around 4.42, French francs up four points, and marks fluctuating to near .0015 dollars before sliding.
The Lauster-Wolcott Co notes a generally firm market with little pressure except in some oil and equipment listings. Rail stocks gain demand on favorable earnings. crude oil sector hints at potential price cuts and large purchases. Cattle and hogs show mixed receipts across multiple western markets with modest gains in some regions and steady or lower quotes in others.
Chicago market notes receipts of hogs and cattle with price ranges for various weight classes and packer bids. Hogs show early strong demand with later trading slow and near steady quotes, beef cattle mixed with steady to lower tones, vealers and stockers weaker to steady, sheep and lambs fairly active with higher clip levels. Foreign bar silver and bullion prices cited, market tone mix across commodities.
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