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Newspaper
The Pocatello Tribune
Location
Pocatello, Idaho, United States of America
Date
Jun 01, 1924
Page
14
Wheat fell sharply in Chicago trading as rains in the west and southwest and a weak Winnipeg market pressured prices. July futures slipped to about 1.06 to 1.07 5-8 dollars, with corn and oats also down and provisions mixed. Traders noted profit taking and anticipation of farm legislation in Washington affecting confidence.
The crop outlook in the southwest and west boosts optimism while European purchases slow, steadying Chicago wheat near last week’s levels though corn and oats swing modestly. Aids from rains in Kansas Oklahoma Nebraska and reduced Canadian demand dampen wheat, with export prospects improving after Winnipeg Chicago price adjustments and lard supplies pressuring provisions.
As manufacturing slows in Illinois and Wisconsin, unemployed workers move to rail and road projects and farm labor. The Farm Labor Bureau expects 200 000 cotton pickers in Texas and the southwest harvests begin late July. Rail construction expands from Nevada to California with major lines and tunnels under way as New England faces higher job losses.
Chicago May 31 Wheat futures opened with declines after rains in the southwest and expectations of farm legislation bearish. July moved from 1 07 1/2 to 1 05 8 while September eased to 1 08 4. Corn and oats were firmer with corn nudging higher despite unfavorable weather. oats fluctuated with little net change.
Hog receipts 8 500 steady top 7 05 bulk 6 75 7 35 cattle receipts 100 nominal week sales steers 8 50 10 00 top 10 85 cows and heifers 4 00 9 25 calves 4 60 9 50 stockers and feeders 5 26 8 26 sheep receipts 200 steady lambs 15 25 16 25 clipped ewes 6 00 7 00
The article explains freight brokers secure steamship space for exporters and charter vessels for full cargoes. They must stay in touch with incoming ships and secure available space, operating on commission and facilitating favorable rates and accommodations.
Livestock in Portland Oregon May 21 shows cattle and hog prices roughly steady from the prior week. Beef steers range 6.90 to 7.00 with top notes around 9.00. cows and heifers 4.50 to 6.75. calves around 4.50 to 9.00. hogs lighter weights 7.60 to 7.85 for good to choice butchers. weighty and heavy hogs 4.50 to 6.76. sheep and lambs steady with best spring lambs at 10.76 to 11.00 and ewes around 4.00 to 6.60.
Kansas City reports week cattle receipts around 2000 with calves 200. Fed steers and yearlings show mixed declines, best yearlings about 10.30 to 10.60, cows and heifers down 16 to 60 cents. Texas grassers steady. vealers up to 8.0 per stock. stockers weaker. overall market activity mixed with several price tiers.
Mixed meat market report shows hog receipts around 13 000 with high quality cuts 7 50 per cwt and bulk weights 160 to 225 pounds. Cattle receipts 38 000 with fed steers 8 25 to 10 50 and stockers 6 00 to 8 00. Sheep receipts 6 000 with lambs 14 00 to 14 75 and spring lambs 16 00 to 17 45.
Hog receipts reach 8000 with bulk good and choice hogs at 6.90 to 7.00 per pound and top 7.00. cattle receipts mixed with weighty steers steady and yearlings down. bulk prices list beef steers 9.00 to 9.05, cows 4.75 to 7.75, vealers lower. sheep and lambs show mixed changes with spring lambs up and fed lambs down.
Chicago May 1 grain and seed prices show Wheat No 1 hard at 1.08 1.14, No 2 hard 1.08, corn No 2 mixed 784 79, No 8 slow 76 77, oats No 2 white 4 118u, No 3 white 46 47, rye no sales, barley 72 80, timothy seed 5.00 7.25, clover seed 10.27, ribs 10.00, beliles 10.00. A pat dead No1 woe OSs orien.
Foreign exchange trading remained subdued in New York with quotes in cents. Great Britain demand at 4.80 percent, France around 6.09, Italy near 4.88, and cables showing mixed readings, including 4.41 for Great Britain and 6.10 for France.
Stocks and bonds showed a reactionary trend amid a dull week with about half a million shares traded daily. Uncertainty over pending legislation and April railroad earnings framed the mood, while steel shares lagged on production curtailment reports and raw sugar and silk hit new yearly lows.
Mexican restrictions on central and southern American cattle tighten amid fears of disease spread north of the Rio Grande. Calcium arsenate demand climbs as bool weevil battles prompt Georgia tenant farmers to threaten crop withdrawals. Cold rains spark early abandonment. San Angelo wool storage reports 45 to 49 cents per pound for recent clips, Boston interests noted.
In Seattle it is feared that saws will nearly suspend activity by June 15 as early 1924 lumber data show a 30 percent drop from historic levels through the first twenty weeks and orders down about 11 percent from 1923. St. Paul reports gasoline for members at 18.9 cents a gallon with no general public price cut yet, while St. Louis notes a $200 million annual shoe manufacturer gross in the city.
UST Demond of the Virginia Seaboard Air Line said special trains begin June 15 to move the Georgia peach crop to New York City. Three to four thousand carloads expected. In Pittsburgh steel markets remain dull with no Val ley Iron sales and ample supply.
Frost in central Illinois harms fruit, truck crops and early corn. The note summarizes agricultural damage across Springfield and surrounding area, highlighting impact on produce and orchard belts.
In Chicago on May 1 potatoes show overall steadiness with old stock unsold. Receipts in eight car lots total 8.95. New stock prices range from 2.40 to 2.80 per sack for Bliss Triumphs and Alabama sacks, with most around 2.40.
Fragmentary market notes show poultry and metal price references including a May report from London and New York. Mentions of chicken and silver are interwoven with unclear lines about Mexican gold and oats, reflecting a disrupted OCR page.
Cleveland gears up to host the Republican national convention from June 8 to 13 with seating for 12 000 inside and loudspeakers for 100 000 outside. Radio relay to 14 stations will let distant listeners hear the proceedings, including a Coolidge fireworks display and a women voters program at Shaker Heights.
Exchanges closed. Foreign exchange quiet. French franc weaker. Chicago cattle and hog markets irregular with strong demand for hogs. Wheat soft in sympathy with Winnipeg weakness. Corn eased on better weather.
Philadelphia reports continued decline in wholesale prices with exceptions in botanical drugs spices dried fruits and linen May sales lag 1923 shoe industry dullness and lower fall orders for dry goods. Furniture prices ease while wash goods silk hosiery and lighter undergarments see demand.
The May 24 export week shows about 100000 pounds of grease wool cleared for export and some 22000 pounds of mohair camel and mohaca wolls. Most exportable wool at profit has been disposed of leaving limited remaining volume.
New York traders report evaporated fruits mixed ahead of midspring. Evaporated apples quiet prune prices steady apricots slow peaches hold firm. Overall activity subdued with limited movement across small lot sales.
Wool sellers in Portland and Lewiston report prices remain elusive with 100000 pounds salted in Lewiston at 80 to 212 cents per pound. Prineval and Heppener clips reach 85 to 90 cents and 38 to 90 cents respectively. some bids were rejected by growers.
The piece criticizes Fascisti violence in Italy against dissenters and Catholic voters, questions democracy’s global spread, and reflects on rail travel history and the dawn of a new era. It also ponders food prices, profit taxes, and industrial system rottenness without endorsing socialism or Bolshevism.
Dr. Charles L. Goodell notes no split between fundamentalism and modernism in any communion and says there is growing interest in religious questions. He asserts the country looks to the Church for leadership and cites gains from Easter activities and laymen’s evangelistic work boosting church membership.
The French Parliament voted 2 000 000 marks to repair Vincennes fortress outside Paris. The building will not serve its historic defense role but will house and display arms of past eras as a public historical tableau. It has long served as a prison and famed as the possible home of the Man in the Iron Mask.
The International Federation of Trade Unions backs a French charity fund for German children. A wounded ex soldier urges support, praising mothers who shared their hunger and mothers whose children faced malnutrition, noting German soldiers once helped ease German children’s suffering. France shows its best resolve.
Diversification spreads funds across industries and regions to limit risk. Absolute safety does not exist. safest are US government bonds, with risk rising as returns exceed about 6 percent. Small investors should seek high grade securities, while overdiversification can hinder informed oversight.
In Hull a memorial by the British air ministry marks the burial site of sailors killed when airship R88 was destroyed. Air vice-marshal Vyvyan notes the sacrifice binds United States and Great Britain. Captain Hussey and the American ambassador send tributes as wreaths are laid on graves by Hull officials.
William Dixon Seymour, long-time New Orleans resident, was ruled a British subject by a federal court. Born in Mexico to British parents, his father’s Confederate naturalization did not confer American citizenship. Seymour’s attempt to obtain a passport to Europe was denied by the State Department for lack of proof of citizenship. Confederate-era rights were deemed invalid.
Fragment mentions bursts and a storm in Alabama and Mississippi, with Central referenced. Details are unreadable. no clear event, dates, or entities beyond states and weather terms.
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