Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1916-08-04
MARKET NEWS
BY r. Allyn Lewis
Continued from Page Three)

July, produced II 300 600 pounds cop
per against 1O.5OO,O0O June and TO-
100000 May.
July production Anaconda 2S,200,000
pounds copper, against 2S,lO0,00O in
June and 10000, 900 July. 1915. was
%. 100, 00O pounds.
American Steel Fdy reports for six
months ended June 80 last. balance to
surplus after all deductions, including
S247,070 for bond sinking fund and
debenture retirement S1022 SIG
Gable from London says steamer
Britannia. 3,4S7 tons, of Croker line.
has been sunk. 1t was not the Red
Star liner
Under wave of short covering and
buying by trade interests the market
advanced sharply today with values
making new high levels. Bulls took
profits on some OF the spurts and are
now in position to support the
market on any little decline. Hesters
figures on consumption on American
cotton for the season We're 14,S30,00O
bales, which furtHer frightened shorts
INTO covering. Advices from Arkansas
say southwestern spot firms are
heavily short for futures with farmers
refusing to sell Sentiment is gradu-
ally varying toward the bull side and
not only the trade. but large specula-
| tive interests are coming in. 1t looks
| like bull market and a safe PROPOSE
| ton TO buy on all dips We stnl
think there are great possibilities on
| the huh side of cotton.
| Port receipts today 6,SS5, 1850,
1912.
IEAT-Closed q to &c lower.
| One of the most exciting days of the
| season was seen. Lots of the excite
ment, however, was during the first
| hour of the session, after which the
| trade quieted down TO some extent.
| although it was highly nervous and
| eXcitable as judged by ordinary
standards, up to the close. Liverpool
| had advanced over night to Sd or
equal to I TO 10 cents. as compared
| with the advance of 6k to 1sc here
yesterday. One of the local crop ex-
perts of big standing also reported the
| appearance of black rust in South
| Saskatchewan and the trade in gem
eral had a rush of buying and selling
orders, such as is not seen in many a
day. There has been an exceptionally
large amount of profit taking done on
the swells today by longs. Export
bids have followed the advances and
some business was done at Missouri
river points and at seaboard. princi-
pally in hard winter wheat Primary
| receipts continue large at 1850, 600,
against So, 600 a year ago. Export
clearances We're 1,0S1 coo against 139. =
600 bushels a year ago. Cash sales,
600 bushels.
CORN-Closed a C lower. Market
quite irregular and followed wheat Up
eally and reacted later in the session.
The bulk of the advices from the corn
belt were that the crop was in a
critical condition and needing rain
badly, although in many sections the
cop was reported in fine condition
rs yet. Export and domestic deman
for corn was good. Sales since last
previous report were 2S5, 900 including
2l5000 bushels for export
OATS: oats closed 5sm7S higher
In cats, as in other grains. there was
much excitement, as high prices early
but some reaction later. A local eX-
, pert of high standing estimates the
yield of three northwestern states al
co rer cent Of normal, the yield had
been affected by the same sort OF
weather that had so seriously affecte
B V neat and barley. There was a great
, deal of covering by shorts much buy
= ing by the helated investors and Z
! great deal of profit taking by the
others Estimates of todays cars 347
9 Cash sales, 265,O0O bushels with 10000
for export.