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Newspaper
The Montana Standard
Location
Butte, Montana, United States of America
Date
Jun 03, 1941
Page
8
The Associated Press reports a mostly steady New York Stock Exchange with several issues advancing despite bad wartime news such as Crete’s fall and intensified bombing of England. The AP average of 60 stocks edged up 0.1 point to 39.7, while daily volume remained light at about 255,308 shares.
Call money steady at one percent and prime commercial paper at one percent. Time notes mostly unchanged with 60 to 90 days at one percent and four to six months at 1 percent. Bankers acceptances range 7 to 16 percent for 60 to 90 days and 9 to 16 percent for four to six months. Rediscount rate at the New York reserve bank is one percent.
Butter receipts 1,241,188 steady with varied creamery grades and cent values. Eggs receipts 24,425 steady with mixed grades and local price adjustments. shortages and storage items noted.
Seattle wholesale butter prices show 92 score 37 percent and 91 score 36 percent in the Seattle exchange. Wholesale eggs list case prices for whites large extras at 30 cents and mediums at 27 cents. Cheese on Seattle exchange shows triplets 19 2c and loaf 20 1c.
Minneapolis notices flour cargo pricing with 98 pound sacks and cotton bag standards. Family patents rise 1/2 cent to 6.65 a barrel while standard patents gain 10 cents to 5.35. Shipments total 17 050 and pure bran fetches 18.50 to 19.00.
New York sugar market reports refined sugar unchanged at 4.95 cents per pound on June 2. No other price moves or listings were provided in the brief dispatch.
President Roosevelt signed measures expanding wartime priorities to speed armament production for Britain and the United States. A new bill allows mandatory priorities on orders from foreign governments within lease lend terms and, in some cases, to government departments or private industry. A second bill keeps iron ore flowing by permitting Canadian vessels to move ore between US Great Lakes ports for the 1941 season, suspending the coastwise trade law for a year due to shortages. The Office of Production Management previously controlled priorities for Army and Navy contracts. Eighty five percent of ore comes from Lake Superior. Canadian shipping will supplement American bottoms to meet record demands.
A measure allows manufacturer discretion on honoring voluntary preference certificates or face private damage suits. Another bill allocates 843 million to the Post Office for the year starting July 1, totaling 1.148 billion, slightly under the budget estimate and below the current year's appropriation.
Mrs. Simon Olson of Moorhead Minnesota accidentally drowned Monday in Avalanche Creek gorge near Belton when she slipped from a log while posing for a photograph. Glacier National Park rangers and Civilian Conservation Corps youths worked to recover the body. She was visiting the park with Mr. and Mrs. Henry Figenskau of Underwood North Dakota and T L Figenskau of Kalispell Montana.
President Roosevelt asked Congress for 125 million dollars for defense highway work. He proposed 100 million for access roads and 25 million to strengthen bridges and widen services in key areas.
Mexico recently purchased 40 armored army trucks from foreign suppliers. The deal signals increased military logistics capacity and may affect regional security dynamics as imports expand support for Mexico’s defense force.
German air raid on Manchester early today unleashed incendiaries and high explosives on factories, hospitals, churches, shelters, and homes. Rescue workers faced smoke as casualties mounted including nurses buried in a nurses home and a nurse killed during an attempted amputation.
Reports describe limited action over the capital with two raiders shot down and three others destroyed. Hamburg, Germany’s major seaport, shows 36 large industrial buildings demolished or damaged by British superbombs in May. Britain announces the loss of the armed merchant cruiser Salopian, formerly the liner Shropshire, on England India service.
A Rock Island passenger train struck a track washout on Prairie Dog creek near Jennings Kansas early today killing the locomotive engineer Henry Nichols of Gould land Kan. All other crew and passengers were accounted for as the eastbound No 6 train composed of a mail baggage car and three coaches derailed with the locomotive and mail car leaving the rails.
Butte market listings show hog prices by weight: 160–200 lbs at 9.4 cents, 200–225 lbs at 9 cents, 225–250 lbs at 8.7 cents, 250–275 lbs at 8.14 cents, 275–300 lbs at 8.4 cents, 300–325 lbs at 8.0 cents, 325–350 lbs at 7.0 cents. Extra heavy sows and stags range 5 to 6 cents.
Chicago wholesale market reports salable cattle 13 000 and hogs 12 000 with cattle steady to strong and hogs steady to 10 cents higher than Thursday. Best steer and yearling prices reach 12 75 and 11 50 while cows remain scarce and bulls active. sheep show steady to strong demand with lambs near 9 90 and springers up to 11 60.
Cattle salable total 6900 with calves 300 and steers mostly steady to strong. Hogs salable 5000 with weights under 240 lb steady to 5c lower. sows steady to 5c higher. top hogs 9.25. Sheep salable 2000 with fat lambs steady and spring lambs above 11.50. shorn ewes 3.50 to 3.75.
Denver notices cattle hogs and sheep sales with 3 400 cattle salable 3 500 calves salable 250 fed steers opened steady to weak and loads at 10 15 1040 pounds. hogs 800 salable 5 600 total fairly active top 9 45 180 270 lb. sheep 2 500 salable few open sales trucked in spring lambs steady at 10 60 11 and shorn ewes 3 4 offered.
Prospect markets show cattle and calves steady to slow with light demand. Hogs sold slower with prices down modestly. top hogs reached 9.30 with most 9.15 to 9.25. Sheep and lambs remained active with fair to good demand and lambs up to 11 dollars in sales.
Cattle salable 4700 with slower beef steer and yearling activity. Hogs salable 5500 closed active with lighter weights down to 9.15 and 9.50 for feeder types. Sheep salable 2000 with fat lambs holding above 11.25 and clippers around 9.50 while ewes steady about 3.75.
New York June 2 Copper remains steady with electrolytic spot at 12 cents and f a s New York 11 12 cents. Tin holds firm at 52.25 cents spot and 52.12 cents forward. Lead steady at 5.85 or 5.90 cents spot, East St. Louis 5.70 cents. Zinc steady at 7.25 cents. Pig iron No 2 f o b Eastern Pennsylvania Buffalo 24 dollars, Alabama 20.38. Aluminum virgin 99 percent 17 cents. Antimony Chinese spot 16.50 cents. Quicksilver 1837 185. Platinum pure 36. Chinese wolframite 25.26. Domestic scheelite 24.
Curb stock prices showed an irregular late trading trend in New York with light volume. Winners included New York Shipbuilding Founders shares up nearly a point while Brewster Aeronautical American Cyanamid Glen Alden Coal and Ford of Canada gained fractions. Cities Service preferred slipped a point. Carrier Beech Jones and Laughlin Segal Lock Pantepec Oil and Mountain City Copper edged lower.
Spokane June 2 market report shows salable cattle hogs and sheep with prices for light and heavy steers heifers cows and calves. Hogs mostly higher across weight ranges. lambs and mutton prices listed with wooled and clipped categories unchanged.
June 2 Chicago USDA market bulletin notes 201 arrivals, total U S shipments 275. California Long Whites and Southern stock show strong markets with U S No 1 prices 2 4 to 2 50 and 1 75 to 2. Mississippi and Louisiana Bliss Triumphs listed, Idaho Russets firm at 1 75 to 2 10, Minnesota North Dakota Bliss Triumphs and Wisconsin Katahdins also shown with 0 81 to 1 20.
New York June 2. Wool futures declined due to selling in the spot market. Grease wool futures closed 6 to 10 cents lower with July 94.0, October 94.3, December 94.1 bids. Certificated grease spot 945 nominal. Wool top futures were flat to down 3/4 cent. October 125.0, December 123.0 bids. Certificated spot wool tops 130.5.
Wheat prices rose two cents a bushel as producers backed a government plan to restrict new crop marketing by quotas and loans. Short covering and investment buying pushed prices to intraday highs before settling up about two cents with July at 96 1/2 cents and September around 97 1/4.
Minneapolis grain market notes June 2 show wheat receipts 507 cars vs 112 last year. Cash and July futures move within narrow ranges with modest price shifts. selections include No. 1 heavy northern at 96 cents and No. 1 hard Montana at 98 cents. Oats 32 to 32 1/2 cents, corn 63 to 66 cents, rye No. 2 53 to 56 cents, flax around 1.76 to 1.81 dollars, sweet clover seed 4.00 to 4.50 dollars.
Whest futures close Sept at 82. Cash grain prices listed for oats barley flax and various wheat types with bids and receipts including wheat 29 barley 6 flour 10 corn 5 oats 0 hay 3 millfeed 0.
New York June 2 noon rates show Official Canadian control board buying 10 percent premium and selling 11 percent premium for U S dollars. Canadian dollar open market at 87.75 cents. Britain official rates 4.02 to 4.04, open market cables 4.04. Germany 40.06 nominal benevolent 20 65.
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