Arizona republican., 1921-11-11
News
IRepubIIcan A. p. Leased wIreJ

 | stocks today was unusually active for l a pre-holiday session, but most of the business continued to center fin speculative issues. further profit taking causing an irregular to heavy tone.
 Oils, secondary steels. coppers and kindred base metals, chemicals and the cheaper motors and their special ties oYershadowed all other issues, but gains of variable extent were largely or wholly cancelled later. Rails manifested occasional re- straint as a result of the pressure directed against certain favorites in | cluding great Northern and Northern | Pacific. Announcement that the rail- way executives were formulating a | lower wage program also reduced in- | terest in that group. Sales S25,ODC
 shares.
 l The moderate accession of optim- ism recently reported in steel trade l circles was dampened to degree by | the October tonnage statement of the | United States Steel Corporation | which disclosed decrease of nearly
 275,000 tons.
 | This was disappointing in view oi 1 the September report. which showed | the first increase in more than 6 year. Rumors of further cutting oi | prices by the steel corporation and
 leading independent producers were
 denied.
 Reversing It's usual course, tn, l money market opened with a firm
 tone, call loans being made at 5h per cent. This rate was reduced tC per cent before the close and tim, 1 funds covering 30 and 60-day re. | quirements were in better supply. Dealings in foreign exchange were
 small aside from purchases of sterl- | ing and Paris bills. The Italian rat, continued to decline and German
 marks lost much of yesterdays re.
 covery but Scandinavian quotations
 were higher. notably the Danisi
 rates.
 Liberty issues closed at nixet
 gains and losses, railroad issues wer,
 mostly reactionary and internation
 als again lacked a definite tone
 Total sales. par value. $16.S75.00o.'
 CHICAGO BOARD
 CHICAGO, Nov. 10.-Material set
 backs in the value of grain tool
 place today, largely as a result o the government report showing
 huge supply of old and new corn
 The close in wheat although unset i. tied was l to IFS net lower. with De
 cernber 1.04ss to 1.04% and Ma 1.09X to 10sA. Corn lost IS t I1s, and oats a quarter to %. Pro visions finished 10 to 90 cents dowr
 With record breaking farm re ; serves of corn officially confirmed bearish sentiment as to all grain ap peared to have developed to a con siderable degree. This circumstanc was so noticeable that in view Of fiv . days preceding advance many long deemed 1t prudent to realize on thei holdings Despite continued dr 5 weather in the southwest and genera falling off in receipts, buying powe 7 dwindled. and the surplus offering
 in the pit proved hard to digest Bulls were further handicapped b l word of general rains in Australia l Wheat grown in Canada continued r monopolize new business with Eu | rope and closing prices here were { l only a modest reaction from the day - low point.
 ,, Enlarged country offerings of COT !. | were reported and 1t was predicte e receipts would increase after Noven : Der 20 when reduced freight rates l into effect.
 8 Oats were governed by corn.
 Provisions were weak in line wtt
 l grain, temporary advances in u e value of hogs being ignored.