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Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Jun 23, 1936
Page
8
Wheat futures turned higher in late trading as forecasts of drought in the northwest spring wheat region supported gains. July wheat around 95 cents, corn mixed with declines, and cash markets in Chicago Fort Worth and Kansas City show varied notes with ongoing demand and modest activity.
Foreign bonds and domestic issues listed with yields and prices from June totals. Notes mention Argentine, Australian, French, German, Italian, Japanese, Panamanian, Polish, Canadian, and U S entities. Highlights include bonds like Goodyear and Great North Ry 7s and equities such as American Telephone and Telegraph.
Chicago market notes steady poultry and cheese prices with eggs mixed by grade. Fresh receipts include 18,779 case eggs and 21 percent firsts, with strong potato demand and several regional Bliss varieties priced from 2.50 to 3.90 per unit, and limited old stock arrivals tightening supplies.
Boston reports limited demand for wool with country graded Michigan fleeces offered at 26 to 37 cents in the grease delivered East, though sales at asking prices prove difficult. Spot fleece quotations and territory rates largely unchanged from last week’s close.
The New York market reports stronger coffee futures with July at 18, Sept 8.33, Dec 8.45, March 54, May 59. No. 7 July 4.42, Sept 4.56, Dec 4.76, March 4.96. Spot coffee quiet with Santos at 4s 4% S% accurate.
The Amarillo market notes carload lots to Texas points with receipts and new wheat quotations. Prices from local grain houses show No 2 grain and No 1 wheat in Amarillo with varied quotes and futures-like figures.
The Midwest livestock report notes near normal supplies in Chicago and Kansas City with steers at 9.25 to 10.50, hogs topping around 10.40, and lambs near 11.78 in Chicago and St. Louis. Regional markets in Fort Worth Wichita Oklahoma City Omaha and St. Louis show mixed gains and steady demand for cattle hogs and sheep across 6 major markets.
Exes Mo standards list butter and poultry prices with grades and weights. Amarillo quotations show hog top at 9.55 for goods over 179 pounds, with packing sows rated 7.75 and Cudahy hog market noted.
Dry goods prices in New York on June 22 show cotton goods moderately active and strong with haw silk up about six cents a pound. Rayons demand fairly active while wool goods stay quiet. Garment and clothing markets rise in activity and burlap buying remains light.
Turpentine firm reports sales 17 receipts 447 shipments 163 and stock 28 204 while Rosin firm shows sales 690 receipts 1 457 shipments 250 and stock 62 022. Quotations listed for various grades with multiple bid ranges.
Call money steady at 1 percent all day. Prime commercial paper at 1/4 percent. Time spans steady with 60 days and 6 months at 1 percent. Bankers acceptances unchanged. Security notes show 3 16 14 with 60 to 90 days and 4 months at 4 16. Rediscount rate at the New York Reserve Bank 1 1/5 percent.
In New York on June 22 the war metal silver held steady from June 19 at 443 percent, with prices unchanged. The market showed no deviation in trading that day as investors awaited further cues.
New York traders pushed stocks higher after the new tax bill was seen as favorable for dividends. Chrysler led gains near a 1929 high as earnings for Q2 were projected around four dollars per share, with several automakers and major issues advancing on dividend expectations.
Sales and closing prices for the 18 most active stocks in New York show broad gains led by Chrysler and General Motors. The report lists each stock’s volume and percent change, with several shares sliding and others rising across the board.
In New York trading on June 22 stock markets remained firm with specialty shares strong in quiet dealings. Bonds steady with utilities showing improvement. curb markets narrow as industrials risked. Foreign exchange quiet with early gains in gold currencies. Cotton higher on trade and Wall Street demand. Sugar lower due to larger import quotas. Coffee higher on active buying. Chicago wheat higher on crop prospects while corn declines from rains in the belt. Cattle steady to 25 cents lower, hogs up about 1 percent with top at 10.50.
Cotton prices rose in New Orleans and New York futures on June 22 as buying supported a steady to higher session. July closed 10 points higher at 12.22 while October added 7, with ongoing hedging and tight market signals cited amid 5,995,761 season exports to date.
Chicago cotton markets posted modest gains after early weakness. On the Board of Trade prices closed 2 to 11 points higher with forenoon opening 4 to 7 points down. Southern spot sales reached 9,963 bales at 12.34 cents per pound for middling, while Liverpool closed unchanged.
Liverpool reports price drops with quotes for American cotton grades and steady futures. Galveston spot closes steady with multiple grade quotations and sales. New Orleans spot closes up with quoted prices for low middling to middling and notable receipts. Cottonseed oil markets show small losses then gains as crude oil strengthens. Average middling across ten southern markets at 12.37 cents.
New York sugar prices moved modestly. spot sugar quoted at 3.75 and refined grades unchanged at 5.00. Futures finished 6 to 10 points higher, signaling firmer demand despite a steady spot.
Copper steady at 9.40 spot and future with export at 9.15. Tin firm around 41.90 to 42.00 spot and 41.50 to 41.60 future. Iron quiet with No 2 F O KB prices listed for Eastern Pennsylvania Buffalo and Alabama. Lead steady at 4.60 to 4.65. Aluminum quoted 19.00 to 22.00. Antimony 13.06 spot. Quicksilver 74.50 to 75.00. Wolframite at 15.50.
Produce prices show eyes at 18% 4 19% c, creamery butter 294 , butterfat 234 25 c, packing butter 18 c. Poultry lists hens 18 16 c, roosters 11 12 c, springs 19 22 c, broilers 16 19 c.
The State of Illinois has 209 automobiles for each filling station according to estimates.
The Lamp magazine of Standard Oil Co. reports overproduction of crude and excessive gasoline output in early 1936. Demand rose 8.19 percent while production climbed 12.21 percent, leaving 9.4 million barrels stored and forecasts a year-end stock rise of 3 to 5 million barrels.
The Railroad Commission announced that the Oil Field Carriers Association asked for uniform hauling rates and a hearing was set for next Friday. Houston’s C. E. Musslewhite cited highway safety as a key goal and easing traffic hazards. Ernest O. Thompson welcomed the petition as evidence of voluntary supervision by industry.
The Oklahoma allocations committee recommends to the proration commission that June crude oil allowables of 524 825 barrels daily, plus new wells, be the July allowable. It would be about 93 percent of the U S Bureau of Mines July demand of 569 000 barrels. The committee, made up of major producers and buyers, acts in an advisory capacity.
Texas seeks realism in its art. The bronze statue of Sam Houston for the state building at Dallas Centennial shows Houston in his day’s dress but was ordered redone with more conservative garb to reflect a realistic portrayal.
Elmer H. Johnson of the University of Texas Bureau of Business Research says the United States’ main new oil reserves will concentrate in Texas and Louisiana. He cites the Gulf coastal plain as the production center with growing output since 1929, while suggesting gains elsewhere are declining.
Denver moves to draft a proposal for a million-dollar stadium to Washington seeking WPA support. The project would provide a new home for the National Western Stock Show Horse Show and Rodeo. An 1811 earthquake in the Mississippi Valley is noted as the region's strongest.
Railroad Commission records show the East Texas field’s daily allowable reduced from 440,248 to 427,331 barrels as of June 20 under a 2.32 factor. Under the 2.6 order, 239 new wells were allocated, with marginal wells limited to 20 barrels daily and 75 percent of wells classified marginal.
Representatives from Gulf Company, Channel Transport and Marketing, Pasotex, Reagan County Purchasing, and Valley Pipe Line protested preliminary intangible tax valuations at the Texas State Tax Board in Austin. Gulf argued for a reduction from 2.2 million to about 1.2 million, noting last year’s final valuation was 2 million and year earnings were down. Most firms refuse to pay, claiming unconstitutionality. test cases await in state and federal courts. Hearings run through Thursday.
No. 1877 Notice to Creditors of the Estate of Fred Verner Deceased. Administratrix Bonita Verner states original letters of administration were granted on June 2 1936 by Potter County Court. Creditors must present claims by law. Address Route 3 Box 1500 Amarillo Texas and mail claims to 817 Amarillo Building Amarillo Texas.
The pattern shows crocheted mesh gloves with flower like cuffs in white or pastel cotton. Pattern 1254 includes plain mesh hands, crochet cuffs, size small medium and large, stitch illustrations and material lists. Send 10 cents in stamps to Amarillo Daily News Needlecraft Dept. 82 Eight Avenue New York for pattern number and your name and address.
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