FINANCE
NEW YORK EXCHANGE. VIOLENT ADVANCES LN COTTON. (Received 17, 2.30 p.m.) New York, March 16. Tho pound advanced 1 3-8 to 3.47 3-8. The Canadian dollar was up J to 85. Violent advances ranging from 3.50 to five dollars a bale greeted resumption of trading on the cotton exchange. Prices were reduced by profit taking and the final gains were from 2.55 to three dollars. CHICAGO BOARD OF TRADE. (Received 17, 12.55 p.m.) Chicago, March 16. In Jess than a minute to-day on resumption of business, the Chicago Board of Trade and other exchanges registered an estimated profit of 50,000,000 dollars to farmers, all future deliveries of grain jumping to the highest price permitted. Tho benefit probably would have been greater but for caulion in the temporary establishment of the emergency rule limiting a single day’s price fluctuation to five cents a bushel either up or down to prevent undue wildness ami strain on credit facilities. It was announced that all restrictions will he removed at the close of trading on Friday. Buying orders for millions of bushels of grain went unfulfilled. The market throughout most of the day was practically bare. Sellers of wheat closed buoyant.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIII, Issue 81, 17 March 1933, Page 5
Word Count
198FINANCE Hawke's Bay Tribune, Volume XXIII, Issue 81, 17 March 1933, Page 5
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