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Newspaper
Winslow Daily Mail
Location
Winslow, Arizona, United States of America
Date
Dec 31, 1926
Page
5
New copper export association formed to regulate marketing of copper valued near 500 million dollars yearly. The plan by Copper Exporters seeks direct foreign sales, price stability, and reduced speculative effects, with major U.S. refiners and agencies centered in New York coordinating shipments and contracts.
Feather Bay Wickensburg reports a 75 hp Seay hoist at Camp Belmont as part of modernization. The project includes enhanced power three-phase railroad electrification extended telephone facilities and a substantial new building program.
Irregular session on December 30 saw mixed declines across majors as year end readjustments to speculative accounts pressure prices. Loans surged to over 40 billion, call money rose to 6 percent, while the New York Fed kept rediscount at 4 percent and commodity futures moved higher on export data.
A report notes a claim of bravery and a medal sighting tied to an alleged rum theft case in Pennsylvania. The incident references five years imprisonment and mentions Péninggis vania Punch Bowl location as the context for the events.
Wheat closed higher on light end-of-month selling from earlier holders with December futures showing renewed firmness and chatter of erratic moves tomorrow. Corn gained 4 to 11 cents, aided by export demand and a rebound from recently sold lines, while hog provisions eased.
In New York on Wee. 30 the general cotton market remained steady with net advances around 8 points per net. The AP report notes a slight uptick despite mixed futures and steady prices across grades.
Cattle 2,000 head fat and stockers mixed trend with steers steady to firm, top values around 9.25 for good weight. Hogs 6,000 with steady demand, top at 11.50 and most between 11.25 and 11.50. packing sows 10.25 to 10.75. Sheep 1,000 lambs up 10 to 15 cents, tops 12.75, fed wethers 7.75 to 8.00.
In New York on December 30, copper quiet with spot and futures around 1337 1 2 to 1350. Lead dull with spot at 780. Zinceasy in East St Louis with spot and futures near 700. Bar silver quoted at 54 1 8.
A merger of continental selling interests was announced in New York. The Anaconda group Calumet and Hecla United Verde and S Katanga Societie Generale Metalurgique D Hoboken will combine their export sales networks. The move aims to cut administration costs and bolster cooperation across American and Belgian copper producers.
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