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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jun 28, 1922
Page
10
Markets, mining and financial news report price gains driven by thrashing activity exporters push wheat higher while hogs and butter show support. Minneapolis grain and foreign exchange markets list stubborn rates as Europe and the U.S. react. A London report notes silver and metal prices steady amid global concerns as Scotland and Wales move toward broader home rule discussions.
New York stocks closed weak after a late surge of orders pushed prices down across sectors. Mexican Petroleum led declines with a drop from early gains, while Pan-American and domestic oils also fell. utilities, steels, and transportation issues followed the broad liquidation. Call loans rose to 5 percent, easing later, and sales reached about 800,000 shares amid persistent market lassitude.
Market action shows 93 percent of Southern and Union Pacific workers voting against a new company plan. Wages cuts quiet market activity while Mexican Petroleum and Pan American stocks pull back. Studebaker expects 35,000 cars this quarter but unfilled orders may lag.
Cattle receipts 8,000 at Chicago with market active. beef steers and stockers up to 15 cents higher. top beef steers around 10 dollars, bulk 8.50 to 9.50. Hog receipts 28,000 with spots higher. good butchers 10.25 to 10.85. packing cows 9.70 to 10.85. In South St Paul and Kansas City receipts and prices vary. cattle, hogs, and sheep show general strength with tops and averages noted. Western regions show gains on vealers and calves, with calves around 6 to 9 dollars and lambs 12 to 13.50. Official reporting from Associated Press summaries markets in Denver and Portland mirror the trend.
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