Arizona republican., 1916-08-20
MARKET NEWS By R. Allyn Lewis

The inherent strength of the mar ket Is shown by it's action today. | With the exceedingly unfavorable news from Washington on the rail road question and heavy profit talk ing in Marine stocks, prices have remained steady. There is the strong est feeling that strike will be avert ed but the public at large. do not realize that m S-hour day instead of 10 hour day means to the rail- roads point even more vital than this Is The willingness of the govern u,ent to surrender the question or arbitration. Up to this time. labor unions have demanded as thier rlght | this very matter and now they have gone beyond it They place them selves above arbitration. The gen eral market wants to go up and will. when it gets a chance. with 1 this vexatious matter out of the way. prices should broaden and much i higher range of values be made
 Underlying conditions are the best There is no extended position in any i stocks. Business Is at it's maximum and money in abundant supply
 1 Copper sold at 2sc yesterday i Shelter is higher and better demand.
 Inspiration Needles
 | Drill No i down nearly 400 feet,
 with values equal if not better than heretofore. Drill hole number two II down 100 feet and working in better
 than ? 2 per cent copper. TWO new II drills will arrive within next few
 days All road work completed and
 tho four drills will be worked to
 capacity this week.
 .WHEaT-Again q sensational mar
 ket and probably. the most sensation
 al of any that have gone before, rrices again made a high level for the wear and it is notable that the near hv deliveries distanced former hign prices bv a wider margin than the deferred. showing that pressure Is on the actual grain first. Latter fact is amptly demonstrated in all of the markets today as cash wheat every where is at a big premium. There is further evidence that foreign buy CTS despairing of securing wants by buying spot wheat an dhave turned their attention to futures and have in a measure cleaned up the market. If has been plain in tke pit all morn ing that demand was in excess of the supply and that it was the large quantities that were wanted most. In addition to foreign buying there | was much eastern investment call. A local statistician of standing esti- ! mated yield of the three northwestern | states of S9,000,000 vs. 135,000,O00 by | government in August report. A | Duluth elevator man now complet-
 ing inspection of North Dakota puts
 crop at less than 25,000,0G0. Cash
 sales 30,000
 Y CORN--Narket was a very large
 affair. There was much investment buying and profit taking by scatter
 ed longs. chiefly among local pro-
 fessionals. All of the corn futures
 reached new high levels and reports
 from the interior were more dis uuieting. Permanent injury befor' ! the recent rains is the universal yer | dict for a large area. High tempera
 lures and drought prevail south
 There was considerable old corn solt
 today from country to arrive. tn | highest price of the last 20 years be
 ing an attraction. Demand for ex I port industrial and domestic am ! 1istributive account continues brisl | OATS-Particpiated somewhat i the general advance, Investment de mand of excellent character was i - evidence Some buying also by cas
 concerns.