Market Nosedives in Surprise Drop
A garbled Chicago market report shows a sudden drop and mixed futures activity. The text references gasoline, time wear, and July oats with uneasy sentiment, noting a Monday close and contrasts to prior gains.
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Newspaper
The Montana Standard
Location
Butte, Montana, United States of America
Date
Jun 29, 1948
Page
4
A garbled Chicago market report shows a sudden drop and mixed futures activity. The text references gasoline, time wear, and July oats with uneasy sentiment, noting a Monday close and contrasts to prior gains.
The Associated Press reports a major stock market drop of 104 points on Monday with broad declines blamed on weak domestic news and increased uncertainty. Trading volume was about 2.21 million shares, one of the slowest days of the month, while brokers note reduced investor interest rather than a broad market rally. The AP average slid to 70.4, marking a sharp downward trend with many issues trading lower across sectors, including rails, autos, and metals.
A garbled page shows grain market figures for wheat and corn with prices and futures, plus scattered phrases about weather, farming terms, and unrelated short items. The legible portions reference Minneapolis grain quotes and daily receipts, but the text is largely unintelligible.
A cluttered want ad page lists positions and notices including a washer required at Murray Toss blink Laundry, elderly caretakers for a small ranch, Park Motors commercial Anac and ats, live-wire apritant salesmen, an appliance repair assistant with transport, and a restaurant couples pair seeking management and staff.
Grain prices rise while numerous help wanted ads appear across Deer Lodge and nearby towns. Listings seek housekeepers, salesladies, ranch cooks, beauty operators, and a salesman, with several noting good wages and steady opportunities.
The Montana Power company announced a regular quarterly dividend of $1.50 per share on its outstanding $6 series preferred stock. Dividend payments will be made August 1 to stockholders of record at the close of business on July 12.
New York wool futures show a steady tone with limited activity Monday. Prices slipped for certain months while others held, with December at 117.1 and larger lots around 299.5 nominal, reflecting cautious trading and modest declines across contracts.
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