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Newspaper
Casper Daily Tribune
Location
Casper, Wyoming, United States of America
Date
Jun 23, 1921
Page
8
Bullish crop news from the northwest sent wheat futures higher on June 23 in Chicago as drought damage and hot weather were cited. July and September contracts advanced, though volume remained light, with later activity showing selling pressure by commission houses.
A coalition of Louisiana Iowa South Dakota Wyoming and Colorado men has taken over several thousand acres of leases near Socorro New Mexico and will drill soon. Geologists say the Cretaceous formation suggests oil at about two thousand feet. Drilling gear and lumber are on site and work aims to spud before July 1.
June 23 reports note the Bank of England lowered the discount rate by half a point, sparking immediate stock market activity in gilt edged bonds and war loans as traders anticipate cheaper borrowing. The move came amid labor troubles and in line with currency trends in the United States and abroad.
New York stock market opens with a lower tone as the Bank of England rate cut to 6 percent is ignored. Frontline declines hit equipment, motor, and food shares with United States Steel down to 70 half, while Royal Dutch gains 2 percent in early trading.
Livestock receipts total about 41 000 head with cattle and sheep showing mixed declines. Cattle values fell with top yearlings around 9.00 and fat cows and heifers mostly 2 0 46.25 while veal steady near 9.60. hogs and bulls also lower. Sheep receipts 14 000 head with thin demand and lambs around 12.00, common grades 11.60 to 11.75, culls down to 6.00.
Receipts show 1100 cattle with lower prices and demand softening. Calves and stockers range around 6 to 9 dollars, hogs at about 4 to 6.50, sheep and lambs around 4.40 to 11.50 with lambs near 10.")
The Quaker Oats company announces a common stock quarterly dividend of one and a half percent while maintaining the regular quarterly dividend on preferred shares. A separate note mentions strict social norms in Korea limiting women's seclusion and admonishing modest behavior toward husbands.
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