Arizona republican., 1921-07-09
Market News
IRepubIlcan A. P. Leased wire1

IRepubilcan A. P. Leased Wire1
 NEW YORK. July s-Further sub stantial forfeiture of the mid week l spirited rally on the stock exchange was witnessed in today's reactionary movement
 Severe declines were registered at the outset United States Rubber leading at a loss of 43-S points on overnight announcement that the div .idend had been deferred. Similar ac- tion was taken during the day on the preferred safes of the Fisk Rubber company.
 Conspicuous weakness was shown by equipments. independent steels, the shippings, sugars and miscellaneous shares. Chief among these were Har- vester. Pullman, United Fruit, Mer- camille Marine, preferred. Sears Roe buck, Famous Players. American Sugar and Sumatra tobacco.
 Foreign oils lapsed into their re- cent heavy state. fresh offerings fol- lowing a marked falling off of pro- duction in the TampIco field. Mex ican Petroleum lost 6 3-S points andI associated issues declined 2 to 3h.
 Lowest prices were made in the last. hour, shorts becoming more aggres- T sive as call money rose from 51h to 6' per cent. Seasoned rails and indus trials then gave way, the list clos ing with a weak tone Sales amount ed to 100000 shares. Primer tenden-l cies prevailed in the market for time funds, although no alteration of re- cent quotations was snown. Renewals of two and three months loans seemed to be freely made and more liberal purchases of merchants paper were reported.
 Most of the international exchanges were lower on nominal dealings De- mand sterling at $3.T0 was nearly 5 cents under its high of a few weeks ago. and all continental rates. in- ciuding eastern Europe, were more reactionary.
 In sympathy with the stock mar ket. most bond issues. including the Liberty group were inclined to ease, but few speculative rails held or added tt recent gains. Total sales, par value. s11.575.o0o.
 eRApsTRE :Ts REPORT NEW YORK, July S-Bradstreet's tomorrow will say:
 "A generally quiet condition fin trade and industry. with retail busi- ness more active than wholesale and obbing business, due mainly to ex- tensively advertised sales of seasonal goods at reduced prfces. contained slow collections. active progress of the harvest northward, with winter wheat cutting and threshing we'll ad- vanced and a slightly better tone of reports as to the crops still to be harvested, are among the more inn n, od fa1v ro-canfilYa foafures in f71e weeks advances.
 Other items having a more or less l intimate relation to the general trade movement are the slight advance, l per cent, shown in Bradstreets num- bers for July 1 over that ruling on June 1. the first advance. by the way, l in thirteen months; rise in this weeks weekly food index, the con | tinuances of the steadier tone and more cheerful feeling noted last week | in the stock market. despite a late re- action due to profit taking on the rise and growth of the idea that | European needs will in the coming cereal year as in the one just ended, 1 call for a large volume of exports l of our grains. particularly wheat. and more meats, notably hog products. l Weekly bank clearings. $6,S02, ,558,
 900.
 CHICAGO BOARD l CHICAGO. July 8-Downturns in | wheat prices today resulted from opinions current that the govern l ment crop report would be only mod l erately bullish, as the deterioration | of the spring crop would be offset in I a measure by the advance in the par | basis for the month. July delivery, l however showed relative strength. as | rains were sad to have delayed the threshing in Kansas and Nebraska and country offerings were only fair 1 Opening quotations. which varied from 2 lower to 2c advance. with
 September at s.1s% to s1.21. and De | cember. $123h. were followed by set backs all around to well below yes | terday's finish.
 | Corn eased off with wheat, all though A transient bulge resulted l from export sales of 750.00o bushels After opening unchanged to 1sc lower, including September at 6o1z to 60%, the market scored moderate gains, 1 but then underwent another sag Oats were governed mainly by the
 course of other cereals. starting un- | changed to 11c lower. September. 3s | to sSkc and developing but little | power to rally.
 Indications of export demand for | lard gave firmness to provisions. COMMERCIAL BULLETIN
 BOSTON. July s.-The Commercial