Wall Street Slides On European Crisis Fears At Market Close
Shares drifted lower as European tensions overshadowed trading with United States Steel Bethlehem Chrysler and other majors down one to four points. The Dow like index fell while volume rose to 541780 as investors weighed Daladier and Churchill remarks and a Danzig issue risk shaping sentiment. The AP 60 index dropped to 45.9 and mining stocks tumbled on silver price moves. Owens Illinois rose briefly then slipped others declined amid broad weakness.
MENTIONED IN THIS ARTICLE
New York
Daladier
France
Winston Churchill
Poland
Danzig
United States Steel
Bethlehem
Chrysler
Westinghouse
Douglas Aircraft
Santa Fe
General Motors
Associated Press
Europe
Tientsin
Wall Street
U. S. Treasury
Howe Sound
Canada
Mexico
Cerro de Pasco
South America
Sunshine Mining
Senate
U. S
Owens Ilinois
Illinois may force cut in sooner production
Tulsa filed report notes Illinois oil field growth pressures Oklahoma to reduce allowable output. Oklahoma official W W J Armstrong proposes July limit 428000 barrels daily and an August 1 reduction to about 400000. Illinois market expansion blamed for the tighter caps while U S gasoline demand stays steady.
MENTIONED IN THIS ARTICLE
Illinois
W.W. J. Armstrong
Oklahoma Corporation Commission
Oklahoma
Armstrong
Clearing Skies Wipe Out Early Day Gains Of Wheat Prices
Wheat prices fell from early gains as traders cited crop dampening rains in the southwest and a more favorable harvest outlook. Liverpool's weakness and mixed regional results left the market volatile. Kansas City and Winnipeg showed modest moves while Minneapolis and Chicago closed near unchanged. July wheat near 70.34, September around 71.% with other grains mixed.
MENTIONED IN THIS ARTICLE
Chicago
Liverpool
Kansas City
Winnipeg
Minneapolis
Chicago Cask Grain Market Summary
Chicago June 28 cash grain prices show Wheat No 3 mixed tough 70, No 3 mixed new 7114, No 2 red new 7414, No 2 yellow hard weevily 72, Corn No 1 and 2 yellow 50 4%014, No 3 yellow 4914 4934, No 1 white 5614, sample 4349. Oats mixed 31, No 3 mixed 3244, sample mixed 3214, No 2 white 34, No 3 white 321433%, No 4 white 30% 30%. Rye had no sales.
MENTIONED IN THIS ARTICLE
Chicago
Wheat and Corn Market Notes From Fort Worth Cash Grain
Fort Worth cash grain prices show wheat mixed with July at 71 3/4 to 72 1/2 and Sept around 71 3/4. corn near 47 1/4 to 49 1/4 with Sept bids near 49. oats around 31 1/4 to 32. rye about 45 1/2 to 47. barley No 2 at 50 1/2 to 51. milo around 1.03 to 1.10 for yellow. Continuous dealer quotes reflect active bid offers and nearby futures movements.
MENTIONED IN THIS ARTICLE
Maine
Wheat and corn futures report from Kansas City
Wheat prices moved higher and lower across grades with 793 cars traded and all futures closing mixed. July at 66 1/2 cents, September 67 1/4, December 68 1/2. Corn traded 22 cars with broader declines and mixed grade quotes around 51 to 53 1/4 cents.
MENTIONED IN THIS ARTICLE
Kansas City
Market Report Shows Mixed Day Across Commodities
New York stocks opened lower while silver prices fell. U S government bonds rose as yields dipped. Industrials softened while Mexican peso weakened amid nervous foreign exchange. Cotton fell on hedge selling, sugar held firm, and coffee drifted lower on profit taking. Chicago wheat closed down after a brief advance. Corn slid 14 to 15 percent on favorable crop reports. Cattle remained ragged, down 115 cents at times, hogs eased 15 to 25 cents with a top of 7.50.
MENTIONED IN THIS ARTICLE
Chicago
Hogs and Cattle Prices Edge Up In Kansas City Markets
Kansas City market report notes hog salable and total around 1500 with prices 10 to 25 cents higher, top at 7.10, cattle totals near 2600 with calves 900 and various classes showing gains, and sheep at 3000 with spring lambs steady and lamb prices up about 25 cents. Chicago livestock data follows with hogs at 9000 salable and cattle 9000, noting price ranges for different weights and classes and sheep with native lambs bid up.
Livestock Prices From Denver and Oklahoma City auction markets
Denver and Oklahoma City livestock reports show cattle calves and feeders offered with prices for various weights and grades. Cattle sold mostly in the 5.50 to 10.50 range with hogs quoted near 7.00 and sheep in the 8.50 to 9.25 area, reflecting U S Dept of Agriculture bid levels.
Fort Worth and Los Angeles Livestock Prices Mixed on June 28
Fort Worth market reports cattle calves hogs and sheep with steers at 5.50 to 8.00 per cwt cows 4.50 to 6.50 bulls 4.50 to 6.00 slaughter calves 4.75 to 8.75 hogs top 7.10 sows 5.00 to 5.50 sheep 5.25 to 7.50 for lambs and old crop fed lambs around 6.25, while Los Angeles shows hogs 7.50 to 8.25, cattle mostly steady, vealers 10.00 to 10.25, sheep 8.25 to 9.50 with various weights and grades cited.
MENTIONED IN THIS ARTICLE
Chicago
U. S
Denver
U. 8
S. Dept
Oklahoma City
Dept. Agr
Fort Worth
Los Angeles
Badger-Bruner Co
Texas
Kansas City Market Report Sellers and Sales
Today's sale at Kansas City features cattle from Texas and Oklahoma including Heifers and breeding stock. Hogs reach two month peak at 6.85 dollars with steady demand and a premium for heavy hogs despite small receipts. The market shows buyers preserving a steady price base and a slight premium for heavy hogs.
MENTIONED IN THIS ARTICLE
Texas
Brillhart
Perryton
Chicago Produce Market Report Sees Mixed Prices and Volumes
Chicago June 28 report shows butter receipts 1,320,080 lbs with unsettled market and varied scores from 88 to 93. Eggs receipts 23,963 cases with steady market and graded firsts. poultry demand steady with diverse chicken and turkey items. cheese lines show 13% ranges for several varieties.
MENTIONED IN THIS ARTICLE
Chicago
U.P
Copper and Metals Prices Steady in New York Trade
New York metals report shows copper steady at spot and export levels around 10.00 to 12.00. Tin holds at 49.00 spot with a 48.75 forward. Lead steady in New York at 4.90 and East St. Louis at 4.70. Zinc steady with East St. Louis spot and forward at 450. other quotes unchanged.
MENTIONED IN THIS ARTICLE
NEW York Metals
New York
East St. Louis
Stock Exchange Keeps Saturday Open in July and August
The New York Stock Exchange board of governors voted to keep the Exchange open on Saturdays during July and August, extending weekend hours for trading. The decision outlines continued Saturday operations to support market activity through the summer.
MENTIONED IN THIS ARTICLE
Stock Exchange
New York
U.P
Board of Governors of
The
New York Stock Exchange
Exchange
New Oil Company Is Formed In Texas City Plant
Dallas June 28 Teddie L Wynne president of American Liberty Oil Co announces Southport Petroleum Co of Delaware organized to operate the former Southport Petroleum Co of Texas at Texas City. Wynne and Clint Murchison have acquired controlling interest in the 20000 barrel capacity skimming and cracking plant to be fed by crude from American Liberty Pipe Line Co via the carrier's coast terminal at Sarees on the Houston channel.
MENTIONED IN THIS ARTICLE
Dallas
Teddie L. Wynne
American Liberty Oil Co
Southport Petroleum Co
Delaware
Texas
Texas City
Wynne
Clint Murchison
American Liberty
American Liberty Pipe Line Co
Sarees
Houston Channel
Technicial Factors Blamed for Slump in Cotton Prices
Brokers blamed a 4 to 12 point drop in cotton futures on technical factors. Late selling by southern spot houses and Wall Street traders pushed prices to the day’s low. Foreign demand and unsettled outlook abroad also weighed on sentiment. July delivery suffered most as traders shifted to distant positions while near-month supplies remained tight. Spot market remained nominal with middling around 9.83.7.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Bombay
ENA Ang
Cotton prices slip at southern markets
New Orleans June 28 report shows middling cotton at 945 cents per pound across 10 southern spot markets, down 12 points from yesterday. The average over the last 30 market days stands at 9.46 cents per pound.
MENTIONED IN THIS ARTICLE
New Orleans
Cotton markets steady as spot quotes drift in Texas and New Orleans
Galveston spot cotton closes steady with values across grading, lows around 5.15 to highs near 9.90 for middling. New Orleans spot dull and unchanged with low middling at 8.35 and middling at 9.50, receipts listed at 1 951.
MENTIONED IN THIS ARTICLE
New Orleans
Cottonseed product quotations from Western Feeders Supply Co
Fort Worth June 28 reports from Western Feeders Supply Co show Texas mills quoted prices for cottonseed products per ton including Prime loose hulls 48.00, Prime cold pressed seed 24.00, and Prime cracked screened meat and cake 31.00 with 43 percent protein at 29.50.
MENTIONED IN THIS ARTICLE
Fort Worth
U.P
Western Feeders Supply Company
Texas Mills
Texas Poultry Eggs in Demand Report
Texas poultry and eggs showed strong May gains with 74 cars of Texas grown poultry and 89 cars of Texas hatch ed eggs, up 37 and 154.3 percent from May 1938. UT researchers note 16 cars of eggs arrived from out of state, all from Kansas, vs four cars in May last year from Oklahoma and Nebraska.
MENTIONED IN THIS ARTICLE
Austin
Texas
University of Texas Business
University Bureau of Business Research
Kansas
Oklahoma
Nebraska
Ulster May Remobilize One Man Regiment
Ulster may remobilize its single man regiment under Britain's rearmament plan. The North Irish Horse was disbanded after WWI. Sir Ronald Ross, MP for London Derry, was its last active member and may return as honorary major if revival occurs.
MENTIONED IN THIS ARTICLE
Belfast
Ireland
Ulster
Britain
North Irish Horse
Ronald Ross
Londonderry
One Large U. S. Silver Mine Due To Benefit by Order
New York reports on Senate action boosting domestic silver mining while cutting foreign output. The lone large U.S. producer gains, stocks rise, and world prices drop withLondon and Mexican sales affected. broader effects touch Japan, Mexico, and currency policy as markets adjust to the silver shift.
MENTIONED IN THIS ARTICLE
U. S
Senate
United States
London
U.S. Treasury
New York
Handy & Harman
Mexico
Bank of Mexico
New Mexico 4-H Club Members Prepare for Camps
More than 2,000 New Mexico 4-H members and leaders are slated to attend county and district encampments over the next two months. Twenty five counties will be represented with gatherings at Gallinas Canyon and Weed camp sites. The 1939 theme is Leadership, with members taking roles as pueblo governor sagapore scribe and councilor in a traditional Indian pueblo framework.
MENTIONED IN THIS ARTICLE
New Mexico
Gallinas Canyon
San Miguel
Mora
Methodist Assembly
Weed
Chaves
Eddy
Sagapore
Jew’s Brains and Fire Fail Nazi Rules
A German Jew in London discovers a loophole to defeat Nazi currency controls by destroying British stock certificates. The refugee later returns to England, and a sworn statement alleges destruction, enabling duplicates at about $7.20, while the incident nets $280,000.
MENTIONED IN THIS ARTICLE
London
Berlin
England
Prospectors Warned About Them Hills
In San Francisco Walter W. Bradley state miners logistic warns thousands of prospectors entering the Mother Lode that the odds are against them. He notes average earnings from hand placer mining in California run under 50 cents a day per person and points to historic but largely exhausted gravels from the gold rush era.
MENTIONED IN THIS ARTICLE
San Francisco
Mother Lode
Walter W. Bradley
California
Cotton for Relief Workers Urged by U S Department
The agriculture department plans to give cotton goods to relief workers using the blue stamp program already in Rochester and Dayton. Needy families exchange orange stamps for food and blue stamps for surplus foods. Government redeems stamps from grocers for cash. Domestic stocks of cotton are at about fifteen million bales, with consumption-boosting ideas under study.
MENTIONED IN THIS ARTICLE
Rochester
N. Y
Dayton
Ohio
Agriculture Department
Iron Mine Employment Drops In 1938
The Bureau of Mines reports iron ore mine employment fell from 22 957 in 1937 to 18 906 in 1938. Average days worked per man declined from 249 to 197, a 38 percent drop.
MENTIONED IN THIS ARTICLE
Washington
Bureau of Mines
Skeleton unearthed on Thompsons Island in Delaware
legends of buried pirate treasure revived after a skeleton is dug up on Thompsons Island near the government canal in Rehoboth Beach. there are no records of anyone buried on the island.
MENTIONED IN THIS ARTICLE
Rehoboth Beach
del. UP
Thompsons Island
Daily Crude Oil Production Edges Up in Week
The American Petroleum Institute reports a weekly rise in U S crude oil output to 3 452 800 barrels daily for the week ended June 24 up from 3 447 050 the prior week and 3 083 900 a year ago Texas contributes 14 400 barrels Oklahoma adds 5 210 while California falls by 10 500. The detailed figures follow.
MENTIONED IN THIS ARTICLE
New York
United States
American Petroleum Institute
Texas
Oklahoma
California
Kansas
Panhandle
Tex
North Texas
Central Tex
West Texas
Inc
Coastal
Loutiniana
Loutsiana
New Mexico
BE. of
Cal
Bureau of Mines Baala
Locke Must Pay U. S. 48 293 in Taxes
U. S. Judge T. White Davidson orders Locke to pay about 48 293 dollars in back income taxes penalties and interest from 1933 and 1934 hot oil operations in East Texas. He may receive an adjustment on a 4 000 crude oil sale item not received. He plans immediate payment to purge a one year suspended jail term from a 1937 tax evasion case.
MENTIONED IN THIS ARTICLE
Dallas
U.P .N
Locke
East
Texas
U. S
T. White Davidson
Federal District Court
Davidson
James Grisham
Fort Worth
Court Upholds Sale of Fugitive Oil at 160000 Barrels
A Texas district court sale of 160000 barrels of fugitive oil in Gladew Creek at 2214 cents per barrel was upheld by the state supreme court after a writ of error was refused. The oil, afloat on the stream, posed a fire hazard for Gladewater and a receiver was appointed in Gregg County. The sale to East Texas Refining Co. had been challenged by A. Davenport. The ruling also touched a Dallas suit where Mrs. Gladva Jones and husband were denied damages against the state fair for injuries at stadium exits after a football game on November 15, 1936.
MENTIONED IN THIS ARTICLE
Austin
Glade Creek
State Supreme Court
Gladewater
Gregg County District Court
East Texas Refining Co
A. Davenport
Dallas
Gladva Jones
State Fair of
Texas
Major Boost Gasoline Prices In Dallas Post
Two major oil companies posted a one cent advance in retail gasoline prices in Dallas on June 28 with new rates at 18 and 20 cents per gallon.
MENTIONED IN THIS ARTICLE
Dallas
Texas Livestock Shipments Down
Texas May shipments fell 15.6 percent from a year earlier to 8,838 cars as cattle and sheep declined. Calf shipments rose 26 percent to 1,070 cars while hog shipments jumped 45 percent to 902 cars. Fort Worth stockyards receipts dropped sharply and Los Angeles-bound shipments, except for hogs, were negligible.
MENTIONED IN THIS ARTICLE
Texas
Austin
University of Texas
University Bureau of Business Research
Fort Worth
Los Angeles
Texas Vacancy Laws Head for U. S. Court
Texas land vacancy law heads to the U S Supreme Court after the Texas Supreme Court stayed its mandate pending certiorari. The dispute names Farle H. Short and others versus W T Carter and associates over 3000 acres stemming from a district court injunction blocking leases by former land commissioner William H. McDonald.
MENTIONED IN THIS ARTICLE
Austin
Texas
U. S. Supreme Court
State Supreme Court
Polk County
Farle H. Short
W. T. Carter
Senate passes Connally hot oil bill extension
The Senate sent to the White House a three year extension of the Connally hot oil act prohibiting interstate shipment of oil produced above quota under oil compacts.
MENTIONED IN THIS ARTICLE
FDR
Washington
U.P
Senate
White House
Independent Oil Operator Cliff Hickman Dies in Dallas
Dallas oil operator Cliff Hickman aged 44 died today. He had lived in Dallas 12 years. Survivors include a brother O. Hickman of Corpus Christi and a sister Mrs. W. J. Lowe of Corpus Christi.
MENTIONED IN THIS ARTICLE
Dallas
Cliff Hickman
Corpus Christi
W. J. Lowe
Majors Accused of Price Fixing Before Congress
Paul Hadlick of the National Marketers Association testified to a House judiciary subcommittee that major petroleum firms fix prices and urged legislation to separate production and marketing. He said small independents must adhere to fixed prices or be driven out of business.
MENTIONED IN THIS ARTICLE
Washington
Congressional Committee
Paul Hadlick
National Marketers Association
House Judiciary Subcommittee
Also Mentioned on This Page
Crown Block Field Developments
Petroleum News
Tulsa
Okla
Great Lakes
Cowden
Ector County
Shackleford County
Fenner & Beane
Amarillo Building
al Chem & Dye
Allis Ch
M & Met
Bell Mill
Smelt & Ref
Wat
Zinc L&ss
Atch T&sp Seen
Colum S&f
Comwith & Son
Curtiss Wright
Ee Douglas Aircraft
Mae Freeport
Hupp
G & el Acces Ctes
Servee
Int Harvester
Cosden Oil Me
Hydro Elec A
el Bond & Sh
Tel & Tel
Ford Met Ltd
Gulf Oil Teat
Johns Manville
Humble Oil
Mount Prod
Bennecott
St. Regis
Shattuck Dean
Loew's Inc Lorillard Ane
Loew's Inc Lorillard Ane En Nee
Sunray Oil Ae Eeens Eemens
United Gas
Marshall Field Tae
Apsoniated Press
Montgom Ward Eee Ee Indus Raiis Util Stox
Nash Kelvinator
Dal Nat Biscuit Wene
Nat Pow & Lite
NY Central
Ee A
North Amer Ca
Ntha Pacteacaeae Oe
Ohio Oil
Pac Gas & Elec
Packard Mot
Ceea
Pahnandle P&r
Penney Bos
Penn RR Ee
Petrol Co
Ee Phelps Dodge
Phillips Pet
Philli Oil
Ratis Indus Util Fren Pub Ve NJ
iNet
Pullman Ce
Corp of Am
Low
Seaboard Oil
Ars Roebuck Ty
Tor
Perenewaee
Simmons
Ee Enseve
Socony-Vae
Stewart Warn
Stone & Webster
Studebaker
U. S. BO
Treasury Tex
Gulf Sylph
Treasury
Salea High
Lowree
Tex Pac C
Tex Pac L Trust
Trans & ‘A West Air
Union Oil Cal
United Aircraft
United Corpet Tee
United Gas Imp
Dow-Jones
Arner
U S Rubber
Enee
Gen Motors
Comwith Edison
Beth Steel Montgom Ward
Consol Edison
Brklyn-Man Tr
Y Central
Sears Roebuck
Denver Livestock
New Oil Company
Amarillo
Jan Tifer
Galveston
Texas Poultry
George T. Hughes
Nana
Japan
China
Eta
Pirate Isle
Carter
Public Buildings Branch
Washington, D.C
Civil Service
U.S P.O
Public Buildings
W. E. Reynolds
Wilshire Boulevard
U. S. Court
Bernheim Distilling
Rouisville
W. Harper
Bond
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