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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Mar 19, 1925
Page
10
Markets mining and financial news report a sharp rally as wheat futures surge amid heavy buying. Export interests reportedly control 2,000,000 bushels and 1,000,000 bushels of rye while corn and oats gain strength from shipment actions and new arrivals.
Early gains in New York stocks buoyed by hopes that bad news on St Paul had been discounted but selling pressure returned, pushing rails and industrials to new yearly lows. St Paul issues held firm early. wheat and grain rally noted as call money fell. Multiple rail and industrial shares traded lower. iron ore and other equities hit fresh lows. call money at 3 percent, foreign exchange steady near 4.17 dollars per pound.
Stocks faced renewed pressure with St Paul issues near record lows after a receivership announcement. Wheat staged a substantial recovery aiding broad gains early, while steel and general electric saw unsettled trading. Grain markets remained volatile with May wheat peaking then retreating as Liverpool and Buenos Aires futures moved higher.
Chicago market shows hog receipts around 18 000 with uneven demand and mostly steady to strong prices. weights 140 to 325 pounds averaging 14.25 to 14.60, few heavy loads above 14.50. Cattle and sheep receipts across Minnesota Iowa and Nebraska mixed with steady to weak trends. calves and stockers fluctuating, hogs in Omaha and Sioux City aiding overall weak to steady tone.
Copper and tin ease slightly with spot and futures activity. Bar silver and Mexican dollars quoted, sterling and euro markets steady. Copper, tin, iron, and antimony prices cited. London copper spot and electrolytic values given with futures.
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