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Newspaper
The Pocatello Tribune
Location
Pocatello, Idaho, United States of America
Date
Jun 22, 1924
Page
14
Chicago brokers report harvest under way in the southwest but favorable weather and crop news restrain wheat prices. July and September futures drift lower while corn falls on optimism for the new crop. Oats outlook bearish and hogs pull provisions down, with traders cautious entering Monday.
Stock and bond prices rose this week with gains in railroad and utility shares despite mixed trade news. Wheat surged on low crop estimates while cotton showed irregular patterns. Oil and rubber shares moved down, copper weakened, and a 1 gas local law was ruled unconstitutional boosting utilities.
Chicago market dull with little trading on old stock as new firm receipts rise to 26 cars and old stock 6 cars. Shipments total 696. Wisconsin sacked round whites trade at 1.10 to 1.20. Bliss varieties from Alabama and Louisiana fetch 2.40 to 2.70. Carolina barrel cobblers sell 3.26 to 4.60. Tribune Want Ads for Results.
Grain markets show improved crop prospects after rainy weather with wheat gaining on export demand and easing winter marketing worries. Corn remains mixed with July light and December heavy as better weather supports gains but old crop prices struggle. Rye prices move in a scattered, unsettled pattern amid rains.
New York June 21 turnover in a quiet session was small with gains shown in oil stocks oil traders see growing interest and a rising short interest. Analysts anticipate gradual improvement in domestic trade and securities values as digesting of recent moves continues into the weekend.
Hog receipts around 6 000 in Chicago with uneven bids and declines for light weights while heavyweights hold. packing sows steady to down. Cattle receipts about 1 000 with weak beef steers yearlings and fat cows, late trade slow. veal calves down. Sheep receipts 2 000 with all classes lower. top range lambs around 14 16 dollars. In Omaha hogs 12 640 receipts with better grades easing 70 cents, lights and packing steers steady. top butcher weights 220 230 pounds around 6 90.
Markets show mixed strength with bonds buoyant and foreign exchange steady. Cattle receipts rise in Kansas City with beef steers and yearlings trading lower, hogs steady to strong, lambs and sheep easing, and cotton and coffee narratives mixed amid holiday tones.
The wool market has hardly moved in recent days with foreign wools dull but a slight improvement noted since the Sydney sale opened Tuesday. Local interest centers on stronger offerings drawing comment from traders.
Manila June 21 AP Dr Victor G Heiser Rockefeller Foundation Eastern representative reports Culion leper colony progress with about 300 cures annually. Government spends $500000 yearly on leprosy work. 65500 patients remain. Continued annual appropriations ensure treatment using ethyl ester, Mercado and Indian methods with 20 percent current recovery, potentially 90 percent with sustained care.
Idaho and Utah expect fair weather through Sunday and Monday with little temperature change. No significant storms or rainfall anticipated, keeping skies largely clear and temperatures mild across both states.
New York June 21 AP stock prices rose in a brief session with uneven closes as selective buying appeared. Oil group activity boosted issues like Producers and Refiners and Pan American. rails and utilities showed strength with several reaching new yearly highs amid profit taking in some favorites.
Foreign exchanges held steady with Britain at 4.32 percent demand and 4.38 percent on cables, France at 6.40 percent demand and 4.69 on cables, Germany at .23 percent per trillion, and Japan at 41. Montreal shows 98 17-32. Other currencies cited include Holland 37.40, Norway 13.52, Sweden 26.53, Denmark 16.88, Spain 13.43, Greece 1.75, Poland fractional, Czecho Slovakia 2.95, Yugoslavia 1.19, Austria .0014, Romania .44, Argentina 32.75, Brazil 10.90.
Forecast calls for fair conditions in Utah with rising temperatures tonight and Sunday. Expected sunshine and light winds across most regions, with warmer readings continuing into the weekend.
A finance note explains insurers rarely raise house premiums when a radio receiving set is added if the company is notified. Expert electricians say a properly installed receiving set with a lightning arrester does not raise fire risk, and insurers have accepted this view.
Bar silver at 34 percent per ounce in London. In New York on June 21 bar silver at 67, Mexican dollars at 51. Tribune Want Ads for Results.
Chicago traders reported the largest price gains in months for wheat and corn this week, spurred by heat in the southwest and forecasts of world supply shortages. Wheat surged over nine days of gains before cooling, while corn rose on persistent wet weather and scarce old crop stocks. oats and lard provisions also moved higher amid export demand.
Wheat No 2 h at 1.16 to 1.21, No 2 hard 1.14, No 2 mixed 62 14, No 2 yellow 89. Oats No 2 white 50 51, No 3 white 49 , Rye No 2 76, Barley 77 80. Timothy seed 5.00 7.25, clover 11.00 10.00, Lard 10.67, Ribs 10.00, Bellies unquoted.
BONOGS New York reports Liberty bonds closing mixed as 3 percent issues trade near 100.30 with first and second maturities blank and 4 percent U.S. government bonds quoted at 104.27. A Tribune note attributes wartime acts to bringing results in markets.
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