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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 05, 1922
Page
10
Chicago May grain session sees May contracts slide 1.5 to 2 cents as favorable sowing conditions and anticipated large deliveries pressure prices. Corn and oats ease modestly while provisions rise on lower meat stocks and strong hog demand. Minneapolis grain cash prices show mixed movement with rye and barley quoted in various grades.
Trading in stocks was very active with broad participation led by petroleum shares. Markets rallied and then reversed on several issues with notable gains for Brooklyn Rapid Transit and some oil stocks while Republic Iron and Studebaker fell. Sterling exchange improved after Genoa’s crisis and financials showed varied movements through the session.
Oil shares led early gains with Royal Dutch Pacific Oil Texan Oil Sinclair and Standard Oil Group rising before losses of one to two points in the final half hour. Bulls turn to tire stocks with Fisk and Ajax rubber eyed for the next move. Copper and railroad sectors mixed while Union Oil of California expands in Wyoming and Cody areas.
Chicago market notes from United States Bureau of Markets show hogs, cattle, and sheep receipts with mixed price moves. Omaha Kansas City and Denver reports indicate steers, vealers, and stockers trading steady to higher, with hogs lifting modestly and lambs firm in parts of the regions.
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