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Newspaper
Ada Weekly News
Location
Ada, Oklahoma, United States of America
Date
May 18, 1933
Page
6
Choctaw factions split over use of the tribe's common estate proceeds. One group seeks per capita payments from mineral lands while another urges using the funds for tribal welfare and education. A compromise bill would pay half as per capita within five years and the rest to the tribe over eleven years.
Gov Alf M London wrote to Texas and Oklahoma leaders urging joint action to curb oil storage at ruinous prices. He called for a gauge of storage capacity across Texas Oklahoma and Kansas and warned against enabling small independent producers to be crushed by cheap oil storage and “unholy profits.”
May 15 reports state attorney PW N Stokes was appointed receiver for the Wirt Franklin Petroleum company. District Judge R P Hill approved receivership affecting Cromwell Franklin interests and Wirt Franklin oil holdings. Additional request sought receivership for Cromwell Frankin Oil company and related oil operations.
Geneva May 15 The League of Nations faced a supreme test by seeking arbitration in the Bolivia Paraguay war. Paraguay accepted but Bolivia conditioned on exact nature of Paraguay claims to the Gran Chaco. A special council committee led by Sean Lester was told to propose settlement terms and push Bolivia toward unconditional arbitration.
Monnie races to locate Charles Eustace to shield Bill from disgrace while Bill insists he had nothing to do with last night’s crowd. Mother’s illness, Kay’s discontent, and Monnie’s own mounting fatigue frame a tense, hopeful moment as a plan forms.
F E Heath of Dallas told the Railroad Commission in Austin that wells in the East Texas oil field could be back on the pump by late July if proration is reduced. He noted a 65 pound drop in reservoir pressure after a 15 day shutdown and that actual output neared the 800,000 barrel daily allowance, with 1,038,488 barrels produced by May 8.
The St Louis San Francisco railroad was declared bankrupt by Judge C B Faris under the federal debtors law after receivership since November. Bondholders must approve a reorganization plan to cut fixed charges and tie more payments to future earnings. Major creditors include the Reconstruction Finance Corporation and banks.
Four days of heavy rain totaled 4.92 inches, soaking the county and swelling streams. Crops will benefit with sun and warm days ahead while winds damaged trees and surface wash occurred. The Colorado river project is renamed the Boulder Dam in a sweeping irrigation plan.
Mrs Bemis could not attend a planned centennial celebration with her class of 65 years due to a flooded basement at the school. Instead she cooked a few pies for the event.
Oklahoma City markets show cattle 700 head and calves 200 active and higher with medium to heavy steers up to 5.60. Good fat cows 2.50 to 3.00, light heifers 4.50 to 5.00, calves steady, stockers and feeders strong. Hogs 2,600 active 10 higher, packer top 4.60, outsiders 4.70, bulk above 4.25. sows 3.75 to 4.00. Sheep 500 steady to 15 higher, spring lambs top 6.85, best truckers 6.70.
Hogs 5 000 630 direct slow and uneven opening up 10 15, top 4.80 for 206 lb hogs. cattle 4 000, calves 800, fed steers up to 25, heifers 550 900 lbs 4.75 6.00, cows 3.50 4.00, vealers 4.00 6.50, stockers 5.00 6.25. Sheep 8 000, spring lambs 6.00 7.40, ewes 2.00 2.75, quotes based on ewes and wethers.
Chicago dealers quote live poultry prices with 24 trucks steady hens 12 1 2 to 1 percent leghorn hens 11 roosters 1 2 No 2 6 turkeys 11 14 spring ducks 9 16 1 2 old ducks 7 9 geese 7 leghorn broilers 11 16 rock broilers 20 1 2 to 23 colored broilers 19 22.
Chicago market report notes butter trade with firmer creamery specials at 93, butter 8,742 pounds, and scores 223 1 4 to 3 4 with extras 92 and 22 3 4. No further context provided.
U S Dept of Agriculture reports mixed potato movements with Wisconin round whites and Idaho russets varying in price. Louisiana Bliss and Alabama Bliss premiums tied to grades, while old stock russets show weakness and new stock steady amid moderate supplies and slow trading.
Chicago wheat futures rose to the highest price since June 1931 with No 2 red immediate delivery at 82 cents a bushel, driven by delays in corn planting amid reports of late seedings in Canada and continued wet conditions in the central Mississippi and Ohio valleys. Wheat closed 1/2 to 1 1/4 higher, corn up 8 to 3/4, oats up to 1/4, provisions up 15 cents.
Chicago reports wheat No 2 red 82 and No 2 hard 73 with mixed corn No 2 prices 45 to 46 and No 2 yellow 45 1 2 to 46, No 2 white 46 1 2 to 3 4, oats No 2 white 26 3 4 to 27, No 3 white 25 3 4 to 26 1 2.
In New York on May 17 the market moved higher as European political outlook and stock gains boosted demand for cotton. July advanced to 8.86 and October to 9.95, aided by southern selling and some profit taking. Midday was steady near best with gains of 19 to 21 points before easing later as profits and selling reasserted. Spotted quiet with middling at 8.75.
New Orleans on May 17 reports cotton closing steady up seven points. Trade totals 1,472 with prices at low middling 8.19, middling 8.69, and good middling 9.09. Receipts reach 3,151 and stock stands at 76,170.
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