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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 22, 1913
Page
16
The trading day in London and New York edged lower as liquidity and high rates pressured markets. Cables signaled cautious optimism over New York city and Chinese loan issues, yet bond declines and heavy selling across petroleum stocks dampened sentiment and left most prominent shares below prior closes.
Davis Daly mine officials report strong progress with 20 tons of ore daily and payroll between 600 and 850 dollars, with July shipments expected to rise. The Hesperus ore body at the 1400 level shows widening vein and increasing ore quality, while crosscuts at 1700 and plans for 1200 1500 1900 levels aim to extend the vein to 2500 feet. Managers say the property may finally be called a mine and anticipate earnings doubling if copper prices hold.
Chicago Livestock receipts 2000 hogs steady market with various price ranges for different weights. Cattle receipts 100, hog byproducts noted. Sheep receipts 1800, market slow but steady with native and western categories priced. New York money market steady with rates across loans and bills. bonds and currency stable.
Market brief from New York shows 18.8 feed and electrolyte figures with exports of over two tons this month. London market quiet with spot at £8 168 24 and futures at £68 10s 101. Lead steady at 4.25 cents bid, London tenors. Spelter weak at 8.615 to 46 cents. New St Louis city directory notes Smiths and Joneses in M columns. Gregory Rasputin, noted spiritualist, remains said to control Emperor Nicholas II.
The New York bond issue is seen as not a great success and signals a serious money shortage. Traders sold stocks yet avoided decisive moves as the market stays professional. Bears dominate some stocks while large sellers cover shorts for now.
Chicago May 21 Wheat gains driven by Oklahoma and Southern Western crop rumors. Corn and oats rise with wheat while exports and receipts shape prices. May wheat opens 9 1 2 to 9 3 4 cents, closes near 9 9 1 2 cents. corn up, oats up. soy and provisions mixed amid rains and selling.
Fragmentary market notes show butter and egg prices in Chicago with unusual figures and dairy receipts. The terse item mentions creamery receipts at 25,085 cases and cheese prices rising, with references to various entities and cryptic fragments.
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