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Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Jun 30, 1936
Page
10
Chicago market closes with wheat up 1 to 1% cents as government crop reports show drouth ahead of 1984 levels. Corn and oats gain modestly while cash grain sections report varied bids across Chicago Fort Worth and Kansas City markets.
A scrambled list of bond names and quoted prices shows varied readings across foreign and domestic issues. Notable entries include Argentina 6s at 59 June, Australia 4 452 at 56, Poland 50, Amer Tel and Tel 545 at 43, Bethlehem Steel 60 at 106, Goodyear 5s at 87, Texas and Pacific at 500, and US Rubber 5s at 47 with mixed percentage yields and maturity notes.
Chicago goods steady as eggs butter poultry and produce receipts are tallied. Egg prices range 18 to 21 4 cents with grading noted. butter lines show 29 to 31 cents, various grades. poultry market steady to weak with mixed weights. cheeses and potatoes listed with regional price points and arrivals.
New York June 29 foreign exchange quotes show dollar values against Great Britain and several European and global currencies. Rates list demand and cable figures for multiple countries including Belgium Germany Holland and Japan with several nominal and regular rates noted for each.
In New York on June 29 bar silver remained steady and unchanged from Friday June 26 at 55 percent.
Market brief from Amarillo reports basis carb dicts and new wheat prices at No 1 and No 2 grain items. Local grain and produce houses list delivery points in Texas with quoted per mile and per unit costs.
Western dressed beef prices moved up from Friday with Chicago best fed steers at 9.50 and hogs topping 11.00 in St Louis. Across Omaha and Denver, cattle and hog prices showed mixed gains and steady to higher ranges with top reported at 10.50 to 11.00 for hogs and 9.50 to 9.75 for yearling steers.
Amarillo buyers and sellers report top hog bids at 9.90 per hundredweight for good hot sow stock weighing 170 to 240 pounds. Cudahy Hog Market notes market activity with sows priced around 7.75 per hundredweight.
Metals round up shows copper steady at 9.50 spot and future with export 9.15. Tin holds near 40.62 spot and 40.25 futures, with regional prices in Eastern Pennsylvania 20.50 Buffalo 19.50 Alabama 15.50. Lead steady, zinc dull, aluminum 19.00 to 22.06, antimony and quicksilver quoted 74.50 to 775.00, wolframite mentioned.
Boston wool buyers reported slow trading with spot prices holding steady to firm. Some western lots sold at slightly lower quotes, while bidders pursued fine original French combing length territory wools at 80-82 cents, compared with 82-85 cents recently.
Fort Worth June 29 poultry hens sold 10 to 14 cents per pound, fryers 18 to 19 cents, turkeys 10 to 14 cents. Eger No 1 candied priced at 5 dollars 10 cents per case. Creamery butter listed at 0.58 dollars per pound with butter fat at 0.28 dollars per pound.
New York coffee prices held firm with scattered covering and commission house buying. Santos July at 8.06, September 23, December 4.37, March 47, May 8.53. No 7 July 4.24, September 4.39, December 4.59, March 4.73.
Raw sugar prices held steady with futures up to 2 points, while refined sugar remained at 5.00 per hundredweight. Active positions showed only slight gains, reflecting a calm session in New York sugar markets.
Kansas City June 29 report lists egg prices 17 14, butter 30 15, packing butter 29, poultry ranges hens 18 15, roosters 11 12, springs 18 21, hreisers 16 13. The brief market notes indicate varied shifts across dairy and fowl categories.
Stocks moved irregularly in light turnover with Chrysler leading gains and a new high since 192%. Steel shares fell 1 to 2 points while motor equipment rose, and talk of a 3 for 1 or 4 for 1 Chrysler split circulated amid heavy buying in London and Detroit.
Markets in brief report on June 29 notes irregular stock activity with Chrysler at a new high while steels lag. Bonds mixed as Polish bonds rally. Utilities steady in a calm market. Foreign exchange soft with guilders rising after a rate cut. Cotton down on government loan news. Sugar up on trade support. Coffee quiet amid European buying. In Chicago Wheat up on trade support. Corn buoyant with heat. Cattle and hog futures higher with hogs at 10.35 top.
New Orleans reports cotton futures fell after Washington indicated more loan cotton might be sold. Opening prices slid sharply, dipping nearly a dollar a bale before buying steadied the market. July opened five points lower, closed two points down, with Oct Dec Jan futures down seven to ten points. Rain limited in Texas and unsettled trading followed the over Sunday CCC announcements.
Chicago reports continued poor sales of the 12 cent loan cotton with prices closed 7 to 12 points higher on the board. Liverpool futures closed quiet and steady with American middling near 7.58 to 7.83. Galveston spot held steady with middling around 12.55 to 13.20 while New Orleans spot closed steady with middling at 12.55 and receipts rising.
New York money rates show call money at 1 percent, commercial paper around %%, time loans steady at 60 days to 6 months between 4 and 6 percent. Bankers acceptance unchanged with 30 days 3 to 10 percent, 60 to 90 days 3 1 6 to 1 4 percent, rediscount rate at the New York Reserve Bank at ? percent.
St Louis market notes Missouri standards for eggs at 194 21c and No 1 at 184c with undergrades 5c. Butter prices range creamery extras 31 1/2 to 22 1/4 cents, standards 14 cents, firsts 29 1/4, seconds 28 1/4. Poultry prices list light hens 16c, heavy hens 17c, Leghorns 13c, springs 18 to 22c, turkeys 14 to 18c, No 29c, ducks spring white 13c, small and dark 10c, old stock 6 78c, veal unspecified.
Turpentine firm 8514 shows sales 386 receipts 542 shipments 813 stock 30 284. Rosin firm reports sales 1 153 receipts 1 850 shipments 3 531 stock 67 961. Quotations list multiple grades with prices from 4.00 to 5.20 and varying lots.
Cotton goods were moderately active with some price increases. Raw silk fell two cents per pound while wool goods booked solid orders for fall lines. Underwear prices rose and rayon goods stayed strong and in demand as burlap remained quiet and steady.
Wake County fire warden J Cooper Young notes Highland turtles detect forest fires early, describing how they emerge with necks raised before people notice. The article also mentions the invention of the double-barrel shotgun by Guilliano Bossi of Rome in 1616 with stacked barrels.
In New York on June 29 bleachable cottonseed oil ended steady to 1 to 2 points higher on scattered covering and commission house buying. Total sales reached 41 contracts with July at 9.30 and future months noted as 9.25 for September 9.11 for October and 8.99 for December and 8.98 for January.
Cottonseed quotations from Western Feeders Supply Co list prime loose hulls at 6 to 7 dollars per ton prime cold pressed seed 23 to 24 dollars per ton and prime cracked screened meat and cake 43 percent protein 28 to 30 dollars per ton. About 400 million dollars worth of gold produced yearly. In re Frank Frazier bankruptcies first creditors meeting set for July 10 1936 in Amarillo Texas. F. M. Braley Special Referee in Bankruptcy.
A Texas comptroller says state gasoline tax revenues should rise due to a congress enacted law allowing taxation of gasoline sold at army posts when not for exclusive U S use. The state previously sought taxes on gasoline sold at posts and used for army pursuits not related to army conduct.
Refugio Texas June 29 The No 1 Missouri Pacific well on the railroad right of way nine miles north of Refugio blew in and spewed oil mud and water over tracks and a nearby highway disrupting traffic Traffic was rerouted from Houston to Bloomington to Victoria and on to Linton The well in Greta field blew in at 4400 feet with casing cemented to 1000 feet and reports said oil and water spattered above the derrick possible fire unconfirmed
Corpus Christi June 29 A U P Tests on J K Ordner No 1 Well in the Saxet Heights pool indicate a three quarter mile extension for Nueces County s largest oil field Mills Bennet Production Company owners drilled below 5 318 feet to reach the Frio sand with 35 pounds pressure oil found at 4 106 feet If deep test fails the well will be plugged back to that level The test is expected to run to about 5 800 feet Beef ranks first and perk second in the preference of Americans.
General Jacob S. Coxey, 82, a long time campaigner for non inter est government and municipal bonds, withdraws as the Farmer Labor Party presidential candidate. He will back Representative William Lemke of North Dakota, nominee of the Union Party, and promote his candidacy. The Farmer Labor Party chose Coxey at its Omaha convention last summer.
Houston June 29 AP Two Sun Oil Company wildcat wells in South Texas signal potential new pools. The Hoe D. Hughes No 1 at Green's Lake, Galveston County, flowed 250 barrels of fluid with about 30 percent salt water in its first test. The J H Craig No 1 at Hawkinsville, Matagorda County, showed oil during swabbing at 5,175 feet but lacked sufficient gas pressure to flow. No 2 Hughes at Green's Lake reached 2,316 feet. farther west, Humble Oil and Refining Co. pushed the Anahauc field boundary 993 feet with the R M White B-1, producing 24 barrels per hour at 7,106 feet. Tom Ball field in Harris County reported Tomball townsite unit 2 pumping 24 barrels hourly from 5,565 feet.
New York June 29 Dire ctors of Texla Oil Corporation and Coastland Oil Corporation have agreed to merge with Salt Dome Oil Corporation. A special stockholders meeting is set in Wilmington Delaware on July 24. Salt Dome will have one million shares authorized at 100 each, with 446 000 Salt Dome shares outstanding. Texla holders will swap 1 Salt Dome share for 6 12 Texla shares and Coastland holders for 10 Coastland shares per Salt Dome share.
In Dallas on June 29 officials of the Low Star Gas Company announced Elmer F. Schmidt was made a vice president, with Julian L. Foster succeeding him as general superintendent. The bankruptcy notice lists assets in Follett Lipscomb County Texas to be sold July 11 1936 at 2 pm.
Oil tank builders in Lake Charles walk out demanding 1929 wage scales. A. A. Green says the strike spans Gulf Coast tank teams, with Riveters at 7.50 dollars and Buckers and Heaters at 6.50. Workers from Banks G. Moreland of Houston halted a Texas project. mass meeting planned in Beaumont at 8 p.m. Local crews not involved, as all workers were brought from Texas.
New tests confirm Haberle and Thornton No. 1 Bean wildcat near Long Lake field 20 miles north of it. Casing set after tests show potential output around 80 million cubic feet of gas with a heavy oil show. Drilled on the Empire block in northern Houston County, production found at 6033 feet in the Woodbine sand.
No. 1877 The Potter County County Court grants letters of administration for the estate of Fred Verner deceased on June 2 1936 Bonita Verner administratrix directs creditors to present claims by law at her Route 3 Box 1500 Amarillo Texas and mail claims to 817 Amarillo Building Amarillo Texas
Gilbert Clarence Brown of Hart Castro County Texas files for discharge from all debts after bankruptcy petition filed March 18 1936 and trustee O W Harrison appointed. Court orders hearing July 28 1936 in Amarillo to determine if discharge is granted with notices to creditors.
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