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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jun 27, 1922
Page
10
Markets, mining and finance: cooler weather and rains weigh on grain and wheat prices. Copper and tin futures vary while shipping inquiries and liberal wheat import adjustments influence market sentiment. Diverse regional updates from Minneapolis, New York, and St. Louis reflect price movements and near-term activity across commodities.
Reports by the Associated Press say no proof of an attempted corner in Mexican Petroleum was found, letting the stock rebound from lows. Shares rose to 194 1 2 percent, then to 204 1 2, ending around 196, with Pan American Petroleum and BR shares also surging. Investors disposed to add to broad gains, but calls money rose to 5 percent, dampening enthusiasm. Irregular gains in motors, rubber, and tobacco sectors persisted amid a cautious market, as cash holdings and July interest preparations weighed on sentiment. Foreign exchange remained confusing though remittances stayed firm with French bills notable. Sterling rose about 3 cents from prior week.
Mexican Petroleum remains the market draw as it opens at 184 and climbs to 204 following Pan American holding company notes. Railroad stocks lead gains with New York Central and Great Northern hitting new highs, while steel and coal sectors show mixed movement and ongoing bullish sentiment persists for Austin Nichols and Elk Horn Coal.
Cattle and hog markets show receipts across major Midwest and Western hubs. Chicago Kansas City Omaha Portland St Paul and Denver report varying demand from steady to strong with price shifts, including higher hog bids and steady cattle, while foreign exchange and precious metals wrap up the day.
In York court, a common law wife earns half of a man’s estate after long cohabitation. Mrs May Neary Kelly secured the ruling as the Kelly family challenged letters of administration taken by the widow.
The report lists demand percentages and prices for multiple countries including Seer-Demai 29 percent and cables isiana-Demand 28.82 percent, with other figures for Switserland-Demand 18.96 and greece-Demand 3.28. It notes butter and eggs prices and discusses poultry categories with minor shifts, reflecting import demand trends and farm product pricing.
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