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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 22, 1920
Page
10
General selling drives corn futures down with July at 1.63 and September near 1.39, while Wheat and Creamery prices drift. The session features a rapid fall in prices as sellers flood the market, with no clear recovery as reports note lower poultry and unsettled egg receipts.
Chicago market slow with 6,000 cattle receipts. Beef steers around 19 to 25 dollars, veal and heavy beef cows steady to lower. Hogs receipts 28,000 with slow market, top near 14 dollars. Sheep receipts 6,000, bulk to packers, market slow to lower. Spokane shows cattle receipts 31 with steady to strong prices, prime steers 12 to 13 dollars, sheep and vealers active. Oregon/Ontario-like figures note broad price ranges for vealers and feeders.
Mining at Jardine camp six miles from Gardiner and 65 from Livingston resumes. Jardine Gold Mining and Milling Co backed by Butte capital, managed by H Bacorn, starts with 8 or 10 stamps in use. Twelve tunnels yield high gold content samples. mill results show promise. Company owns 26 claims, 21 patented. past output 1808–1907 valued at $3,000 and 300 tons tungsten. Plans call for large-scale operation with daily output near 400 tons. Expected gold bullion era ahead and significant earnings from tungsten byproducts.
News from the New York Stock Exchange reports government efforts to ease railroad congestion and steady call money, with Liberty bonds recovering and oils, rails, and steel leading gains. Traders praise rail and equipment stocks on anticipated rate relief, while bears focus on cautious buying and potential rallies in railroad, copper, and oil shares.
The stock market shows a trading affair through the session with money around the 10% level as Lusk committee testimonies led by Henry P. Davidson of J P Morgan Co. focus on economic conditions. Oats, sugar shares, and many commodities drift lower while rails and some industrials show strength, signaling a cautious path with possible upmove if factors improve.
The Bradstreet Review reports silver has slid from a winter peak near 1.38 per fine ounce in New York to the year's low as demand in China and India wanes. European supply, paper currency expansion, and coin bullion meltings add to available metal, while market eyes turn to whether China or India will reenter demand at current levels.
The Eureka Reporter notes Tintic Milling in Silver City faces heavy losses as ore sold earlier at high prices now yields lower bullion value. Tintic plans expand roasting capacity with one new unit while repairing mills. Hypothetical Mining and Milling in Coeur d Alenes reports a 160 foot crosscut toward a vein with several hundred feet depth. Inspiration Copper buys Warrior’s Montgomery group for 400000, may use as tailings dump. talks with Southwestern Miami Development porphyry copper deposit fail.
Whitehall notes celebrate the home daughter born Sunday May 16 and a senior evening with dancing and a lunch. Retiring principal Milgat receives a tribute amid years of devoted service while Gladys Bettzer hosts fifth and sixth graders. Local visitors include Leo Duliea Ila Tuthill and Zigain. Montana State College students return from Morrison’s Cave to crowds of about 65 on Sunday night.
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