0586d2e4Full suspension
Other: Receiver appointed and later posted quarterly report showing cash for dividend payments; indicates permanent closure and liquidation under receiver.
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Swedish Prince Made Yale Society Member Jan. royal highness. Ludwig made member of Berzelius society Yale university last He tendered an accepted and went to the tomb of in Turmbull st and was duly BANK RECEIVER NAMED Red Lake Falls, Minn., Jan. Frank Crookston attorney. has been named receiver in charge the Farmers National bank of Red Falls. which voluntarily closed weeks ago because of heavy
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Bank Receiver Named Red Lake Falls, Minn., Jan. Grady, Crookston has been named receiver ney, Farmers' National charge bank Red Lake Falls which closed weeks untarily
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Futures Markets Getting Out of Their Ruts and Range Is Wider Europe Buying All Kinds of Grain and China Buys Flour Red Winter Wheat Moving Abroad-Liberal Purchases of Canadian Low Grade Quality-Argentine Railroads Have Difficulty Handling Traffic-Rains Still Needed in India-Australian Movement Fails to Expand Rapidly-Flour Trade Quiet-Rye Market Strong-Germany and Scandinavia Buying Cash Supplies-Heavy World's Shipments of Wheat Readily Absorbed. ing of supply and demand is growing in the movement to terminal markets sharper and a prominent American bearishness. should encourage exporter took issue with Broomball on It is true that cash markets have the probable requirements of Europe. failed to show quite as much vigor of According to Julius Barnes the relate, but it is also true that good mill quirements will be nearer 800,000,000 ing wheat IN selling at sharp bushels than the 720,000,000 bushels over futures mostly Flour trade has last estimated by the English authorbeen rather quiet and this tended to ity. In view of the shortage of poslacken the demand somewhat Local tatoes and rye the higher total would millers enforcing the carrying charge seem to be the more reasonable. clause in contracts and buyers are orForeign sources continue to show a dering out supplies on old and maturtendency to minimize the food situation ing little more freely and and to press their views of plentitude no doubt this is having some effect on while buying all kinds of grain in North the volume of fresh purchases. Good America. However, It would seem that shipping instructions on flour could this element has given up the job of readily effect the cash position locally talking prices down and are because receipts are very light In Kan ly buying all cereals that they can get sas City Thursday one the big mills hold of throwing the market stepped the market and cleaned out of low gear One report from the up the offerings of good wheat Press said that there was very that terminal reports from good demand for red winter wheat for that virtually all of the good milling export but that the buyers 80 far have wheat is by mills and that only not shown tendency to follow the red winter is for sale. wheat market up. They appear to want much of superior available domestic larger than they are getting, demand for this red winter is naturally but wait for reactions to buy In one slow Until the better wheat is used case an exporter had acceptances on up millers will not very keen pur four different sent out over chasers of the less desirable type Ex night porters to be taking the red at France is showing rather strong in prices that look terest in this class of wheat now com- with those being paid for the much ing to life towards the close of the choicer hard wheat week. Italian purchases have been Exporters are regarding moderate and in fairly steady volume. their trade with foreign buyers, anA cable from Portugal said that that other sign that the matter of securing country would have to buy wheat stead- supplies is not easily settled. Most of ily from now until the new crop comes the recent trade represented Manitoba to harvest. The Spanish crop is short wheat of low grade quality With ex 23,000,000 bushels compared with last tra choice quality available in both Ar year's production. Apparently all of gentina and Australia this buying of Europe is going to be in the market damp. low grade supplies for wheat during the spring and early not very easily explained This Canadian summer It was that home wheat is heavy, though not quite supplies be consumed first and scat heavy as choice Argentine It contains tered advices indicate that virtually all enough moisture to make the matter of the good milling wheat available in of frieght cost worth For Europe has been well absorbed From eign buyers would be paying freight now the should cost on By W. A. Riebeth Although the wheat market failed to develop enough power to stimulate outside trade noticeably, at least it seems to have gotten out of the rut it was in for 80 long a period and to be in a position to do something. The professional element as yet seems by and the situation will probably have to progress further before they have a change of heart. Controversy regarding the matchgain rapidly and with limited facilities Rye News Bullish. for moving Argentine and Australian Rye has the strength supplies buying of North American and seems to have better background wheat to be rather good. than wheat temporarily at least when Friday cable from Argentina called comparative prices are Ger attention to the difficulty railroads were many and the Scandinavian countries having in handling traffic With no began to pick up North American offer of adjacent to sea- ings quietly some time back and so far ports the exporters must depend on have followed the advance. There has railroad facilities for volume of offer been some talk of purchases in ArgenIngs. Shipments of the past week to- tina at cheaper prices, but the last taled 000 bushels and port stocks crop estimate for that country placed increased 100 000 bushels If railroad the yield at about 3,750,000 bushels facilities prevent better than 5,000,000 The crop is not considered important enough to mention in most of the estibushels weekly from leaving the counmates and apparently no records have try then Australia must contribute as been kept on export The much to render the European import last record found on the Australian ers independent of North America. In yield was under 100, 000 bushels Refer spite of the bushels of wheat ence to purchases of rye in either shipped weekly for the past month Imcountry should be with grain mediate demands seem filled Liverpobl cable of Friday reported for nearby wheat and light offerings. During the of the coal strike Number Two It seems than likely that the Series United Kingdom ate UD reserves freely and got down to exports from foreign will have to care for current requirements It also appears that buyers are competing sharply for Argentine wheat This means that buyers in the United King dom cannot hold back and leave trade initiative to the sellers If they want wheat they will have to step out and get it away from countries Russia is proving disappointment RR source of supplies. Reports of of ficial gatherings of wheat may run much better than last year, but as yet the improvement is not showing very strong in the export movement Other Black sea countries are shipping virtually nothing There no general improvement in the situation in India during the week. No adequate precipitation has been re celved since early in December and the crops are showing up poorer every day Considerable permanent damage has been inflicted already and immediate rains are needed to prevent further de terioration Owing to the poor outlook all export offerings of new crop wheat have been withdrawn. or interest to the trade was a report concerning liberal flour sale made by western Canadian mills to China With the Australian crop in movement and supposedly in free supply, this Chinese buying North American flour may have considerable significance It is expected that Asiatic countries will absorb the first run of Australian wheat If they do then Europe will have to buy more freely of North until Australlan exports pass Asia and begin to reach Europe Steady buying of Manitobas is likely due to this fact The foreign situation to have veered rather sharply in favor of the bulls, despite the lack of details from Liverpool There is some doubt as to the exact position of the domestic supply and demand. A slight ly increased of supplies to southwestern through the week was the basis of bearish sentiment. nursed by the professional element Primary so far for the month have been less than 50 per cent of the total needed for domestic flour consumption and export clearanc es. This being the case there is no logical reason why a slight increase of salt, Both probably raise small quantity for feed or distilling purposes. There is fairly large German popula tion in Argentina that uses rye for bread. The last advance in the market brought out profit taking by earlier buyers and there may be little setback if the foreign trade does not continue to absorb offerings freely Virtually all of the markets reported buying of rye futures by foreign in terests. increased with foreign buyers taking offerings The Canadian official estimate of the rye crop of 1926 was 1,334,000 bushels, relatively unimportant quantity. As long as Russia and Poland have no rye to sell looks as though the European demand would center on the United States and developments in this coun try will disclose the sentiment of Europe that grain and be considerable of an indication as to the general food situation abroad production last season was bushels and the visible supply last week was 12,793,000 bushels, Owing to the poor quality of much of the last and the dearth of feeding grains larger percentage of the production than usual was used on the farm. The visible gain from July to date has been less than 000 bushels. indicating no important farm marketing. High prices will no doubt bring out considerable of the country supply Export clearances are fair, but not as liberal as they will be when are made on contracts. There is closer between rye and wheat than for number of years past and prices for both are ex pected to strength Numerous signs point to more rapid and interesting developments where both are Flour Trade Unsettled The situation is slightly abnormal. Buyers have contracted for enough of supply to take care of their nearby largely and a number of them are overbought. This re. sults in shipping instructions. Others are into the market from day day. Majority of the trades at the profit to holders. In the millers are cancelling where they are about even market of the carrying charge clause of contracts statement attributed to buyer for large eastern baking establishment is worthy of attention. According to this buyer the big bakers will see that Chi cago May wheat does not get far above $1.40. This would tend to show the as surance these big bakery corporations have concerning their influence in the market as it is present With no well financed speculative operations in the market are indifferent can easily discourage the sporadic that exists the smaller traders Some of the big traders could give them good A government report put out late in the week concerning the probable trend of prices was hardly justifiable. It tended to give the bears fresh grip and to discourage the friendlier feeling that was developing These reports represent individual views largely and are no more important than private views of similar nature. Government employes cannot forecast the weather or market with any greater degree of certainty than can other individuals. There seems be persistent bearish bias in all of these official reports and it is easy to see what effect they have on the psychology of the and the exporter These views, like the fore cast of acreage considerably ahead of sowing. are given too much consideration. A little more activity and strength in wheat is expected to revive related trades considerably Eventually the market is likely to react to "more dogs than bones" situation. but at moment there is no general discount Ing of a tight forward position, of kilowatt hours from kilowatt development. These says Mr. Fuller high spots of the 1927 construction proconsists largely the installation of additions to existing plants and the of large amount and distributing equipment We expect establish records in the facility with which this is handled and to make large sav ings cost under previous construction similar nature Saskatchewan Beekeepers Show Gain During Year the increase in Saskatchewan, the number of beekeepers in 1926 totalling 849 as compared with 687 in 1925. Registration is required by provincial act. The 1926 honey crop was valued at $37,801 according to the provincial department of agriculture. It included pounds of comb honey It is that there were 2.863 colonies of bees in the province on the Bank Receiver Named. Red Lake Falls, Minn. Jan. Frank A. Grady Crookston attorney. has been named receiver in charge of the Farmers' National bank of Red Lake Falls which voluntarily closed two weeks ago because of heavy
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CASH ACCUMULATED BY BANK RECEIVER Red Lake Falls, Minn. April Grady receiver in of the closed Farmers' National charge bank, posted his quarterly report of assets and liabilities The cash on hand accumulated for the payment of dividends is approximately $7,000 more than was on hand when It closed.