Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-07-02

ing week. and 5s,719 wei the cores
ponding week a year ago. The signi-
ficant fact in connection with the car
loadings of last week is that the total
came within only 80 cars of the larg-
est loading Of any week this year. It
is also worth noting that the car load
ings for coal were 04,824, q figure
which is larger than for any previous
week since the coal strike started. II
these coal loadings were within the
range of normal, then total car load
ings at present would reach a figure
close to the high point of 1920.
The rise in Liberty bonds for the
past week was of distinct significance
because several of the issues reached
new highs for all time. All of the
Liberty and Victory issues were above
par throughout the entire week and far
removed from the low point which
they reached when selling drove them
to around 80. One of the factors
leading to the improvement in the
liberty bond situation was u%ndoubted-
ly the action of the New York Federal
Reserve bank in reducing its reds.
count rates from AZ per cent to 4
per cent. This is another recognition
of an easier money situation and led
to strength throughout the entire bond
market. This is the first change in
discount rates which has been made
by the New York bank since Novem-
Der. 1921.
Tho Bond Market
The bond market opened the week
with a rather ~listless. tone, but before
the week was over a great deal of it's
former strength had been recovered.
No doubt the action of the federal
reserve bank in New York in reduc-
ing its rediscount rates was a de-
cided factor in the increased market
activity. This action, however, did
not result in a sudden jump in values
such as was experienced when the
previous reduction was made, largely,
perhaps, because the market for com
mercial paper and time loans was al
ready on a considerably lower basis
for several weeks and had already been
reflected in the bond market. The
return of a stronger tone resulted in
its natural corollary, an increased
of new offerings, some of
probably had been intended for
earlier distribution. but were held
back on account of the soft market
Below is a list showing the |
yield of the principal recent new Of
100000, state of North Carolina |
year 41@'s, 4.40n-435%.
S1,5OO,OOO, Newark, n. j., 7-19 year
th's. 1900 -415eo.
S3,073,OOO. Jersey City. n. j.. 1855
AIS. 4%-425%.
100000 Sioux Falls, 20 year SIS,
s73i, 900, Minneapolis, Mimi, 1-oo
AIS. 4 -4.20ed.
s.5o:0OO: Duluth, MINI. 1-25 year
420fe.
s1.75O.OOO. Richmond, Va, 1924
7ear AVS. 1850.
s27.645.OOO. New York Central. lis
ear equipment 5's, Sc 5000.
$4,000 900, Chicago, Milwaukee &
It; Paul, lis year SIS. 5ee-5.49e.
S2.5OO,OO0. West Penn, 3 year SIS,
1889.
$4,000. 900, Kansas Electric Power,
) year 6's. 6.30T.
5000. 900. state of Santa Catharina.
5 year SIS. 1900.
100000. Beaver Products COM
20 year 71a's. 1900.
Crop Outlook Good
The crop outlook throughout the
ntire Ninth federal reserve district
o%ntinues to be the best to be expert
need at this season for many years
the optimistic feeling in the agri-
districts %engendered as a re-
llt is proving a decided stimulus to
orthwest business actively. Farmers
Tho have been holding back on their
urchases until enjoying at least a
air guarantee of a crop have sufficient
onfidence in the present outlook that
hey are beginning to make purchases
n the strength Of this years pro-
income.
1t is decidedly encouraging, however, {
notice that the purchases which are I
sing made at this time are for essen |
ais only. most farmers apparently (
aving learned their lesson in the I
through which they have just |