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Newspaper
Waterloo Evening Courier
Location
Waterloo, Iowa, United States of America
Date
Jan 15, 1921
Page
15
Chicago and other markets show sharp wheat declines with March and May futures down amid weak support and heavy hedging. Corn falls as buyers and hedgers push prices lower. oats and cotton futures follow the wider trend with steady to soft readings across grain markets.
Kansas City reports receipts for cattle and hogs with steady to lower bids. hogs near steady after week. lambs and yearlings slight declines. Sioux City hogs and cattle mostly steady to slow. St Joseph hogs down slightly. cattle mixed. Money and exchange notes irregular with Liberty bonds and mercantile rates listed. Potatoes in Chicago show mixed northern white receipts and price ranges per cwt.
Foreign buying buoyed wheat this week while talk of larger domestic flour trade supported gains. May wheat rose to season high as exports hinted, but Argentine surplus estimates and slackening U.S. exports cooled it. Butter and dairy prices varied in New York markets as mills struggle with capacity and receipts.
Cattle receipts around 1,000 at Chicago with varied price action. feeders up to 25c higher, fat calves down up to $1.59. Hogs receipts 12,900 active and steady to strong, top $9.75, most bids $9.30 to $9.60. light pigs $9.60 to $9.15. Sheep receipts about 4,090 with lambs and yearlings mixed. weighty lambs down up to $1.50, ewes firmer. East St. Louis shows mixed moves with steers down 25c, hogs steady to 10c lower, top around $9.90 for lights. No sheep trading reported.
New York and Jan. 15 stock prices show no clear trend at the session open. Major industrials and rail stocks firm to strong led by Bethlehem Steel Crucible and Republic, International Paper Ajax Rubber Reading and Atlantic Coast Line with 1 2 point gains.
Farmers rely on this Courier market page for daily price quotes. It notes prices reflect information up to the close of the following day and that reports come from the Associated Press and United Press. The page emphasizes thorough, reliable coverage for farmers.
Heavy trading in General Motors opened the market with a firm tone overall. Reading rose to 83 as rails and independents showed gains, while oil issues fluctuated and top names like Crucible and U S Steel posted advances amid a cautious market mood.
United Press reports a quiet session with the steel group holding firmer and Reading advancing to 88 early. General Motors trades heavy with little price change, while general lists see small lots move. Foreign exchanges hold, bonds near Friday levels, cotton firm, and grain under pressure as close.
Bank clearings for the week ending January 14 1921 as reported by the Waterloo Clearing House Association show weekly totals with Monday through Sunday figures and a cumulative weekly sum. Instruments recorded deeds and mortgages compare the week to the previous and corresponding weeks, noting decreases and year date differences.
The Iron Trade Review reports continued slow demand across industries including automotive and stove fabrication. Some lines restrict raw materials, with Ford shipments withheld and many plants delaying reopenings until sufficient orders exist. Production at independent mills is around 4 percent for sheets and 30 percent for steel bars, while major producers show divergence in output.
President Joseph P. Griffin of the Chicago Board of Trade told the House agriculture committee that banning futures trading would strike at the core of grain marketing. He argued hedging benefits producers dealers and consumers, likening it to insurance and noting speculation cannot be eliminated. He said risk cannot be removed and that hedging stabilizes markets, with Chicago acting as a global clearing center used by dealers in Europe, Argentina and Australia.
J R Howard of Iowa, president of the American Farm Bureau federation, urged Illinois agricultural delegates to organize a global corn relief effort. He cited plans with Herbert Hoover and said farmers in 10 Illinois counties pledged a carload of 7,000 bushels each, with Iowa counties ready to donate surplus crops from 1919 totals.
Allison Iowa January 15 Ralph aLi Doore Butler county's new attorney announces removal of punch boards and other gambling devices from restaurants and pool halls. He orders pool hall operators to bar minors and instructs Sheriff A T Martin to gather evidence to convict violators.
London reports fear that American meat firms could dominate global supplies and British markets. The Standing Committee on Trusts notes U S packers hold large shares in Argentina Uruguay and the London market while planning tax and shipping subsidies to curb foreign expansion. Armour & Co. disputes the findings saying British firms helped open Argentine trade and that the report shows prejudice.
Chicago reports show egg receipts not large enough to meet current needs and high reserve stocks. Swift & Co review notes only a rise in receipts could push prices lower. Butter prices declined week to week while quality improves. demand remains strong for fine butter though poorer grades lag. Poultry prices rose overall, with some late-week softening indicating prices cannot stay elevated.
August Krenz dies at his son in law's home in Grundy Center after a heart attack. He was 88 and among the county's earliest settlers, leaving four daughters and one son. His wife and nine children had predeceased him. Burial planned beside his wife in Jefferson Wisconsin.
The William Smith & Co garage on West Main street in La Porte City changes hands to Ballentine Bros of Cedar Falls. The new proprietors will keep the existing staff and operate the same business, with one partner moving from Cedar Falls. The deal includes a farm as part payment for the La Porte City holdings. Mr. and Mrs. H. D. Beal celebrated their 35th anniversary with a surprise gathering at home hosted by friends.
Cedar Valley Poultry Show in Osage Iowa opened Wednesday and closed today with a successful exhibit. The feature included fowls from Iowa colleges and other regional exhibitors.
The newspaper will add a farm department to its Laws service with daily articles for farmers dairymen stock growers and poultry raisers. Editor Edward T Leavitt a Iowa Agricultural College graduate will lead the section with strong farm bureau support. first farm column appears Monday January 47.
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