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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
May 02, 1950
Page
9
Soybeans paced grain futures to new seasonal highs as prices rose across markets. Reports mention soybeans at $3.10 a bushel in delivery, tight soybean supply prospects, high prices, and weather factors affecting wheat and oats, with receipts and cash grain prices noted for Fort Worth and regional markets.
San Antonio market reports cattle and calves trading steady to strong with varied loads of mature steers and yearlings. Prices range with steers around 26.00 for 1,129 lb, yearlings 25.00 to 27.00, cows 17.00 to 19.00, canners 13.50 to 16.00, bulls around 23.60, and stockers 14.50 to 20.00. Domestic and international currency values noted nearby as market context.
Idaho's Shoshone Falls now four feet higher than Niagara Falls, illustrating a striking watercourse comparison and regional hydrology development.
A strong but steady buying move Monday lifted prices to a new average high for the year with most sections of the list advancing fractions. The Associated Press 60 stocks rose about 0.6 to 1.0 point, led by General Motors after a dividend was declared, with rails and oils contributing gains and a generally cautious but positive tone across the market.
Stockholders of United States Steel Corporation reelected Sewell L. Avery and four others to three year terms on the board at a long annual meeting in Hoboken New Jersey. Avery received the smallest vote of the five management nominees amid some criticism from stockholders.
San Marcos dissolves the eight year old office of city marshal Roy Lane resigns to focus on garbage collection. Lee O. Williams, former night watchman, is hired as city policeman starting Monday. City Sec. Ted McIntyre to seek bids for an official police car.
Yoji Matsuoka, 31, son of former Japanese foreign minister Yosuke Matsuoka, was struck by a train Sunday night in the railroad yard at Matsumoto after a drinking party. His father, a Rome-Berlin-Tokyo axis architect, died in 1946 on war crime trial charges.
Cotton futures weakened in late trading on Monday. Profit taking and hedge selling pushed prices to intraday lows with declines of around 25 to 95 cents from the prior close. Traders consider potential tighter supplies next season and reports say extension of 1949 crop loans to November or December may be urged by Washington leaders.
AP dispatch notes May 1 that cotton futures rose in early trading with pockets of profit, as prices show limited gains while the market remains cautious. Trading at San Pedro remained steady amid mixed signals from nearby contracts.
Mrs. Leota Shroyer said two women forced her from Portola to the weeds on Highway 389 where they beat her and burned her clothes. They fled after theft of her diamond ring and wrist watch leaving her unconscious. she named the attackers as Pat and Billie with Billie described as a Portola caterpillar operator.
Ray Condra named chairman of the Taylor Chamber of Commerce July 4 celebration committee. Other members include A H Miller Bob Sims J J Crim Ernest Olson Virgil Plowman Welton House Vernon Hafernik Edward Kubala Edwin Kovarj and Gillis Conoley.
The Rev. J. P. Manley pastor of the Marble Falls Methodist Church was elected president of the newly formed Rotary Club. L. H. Watson named vice president, David Hartzell secretary, Carter Stewart treasurer, and Jack Miller and Richard Giesecke directors. Weekly luncheons set for Fridays at 12 15 p m.
Spot cotton mixed in Texas with several grades quoted. Good middling around 29 to 30 cents, low middling near 65 to 66 cents per pound, and muddy or lower grades reported at lower levels. Trading reflects a cautious market with daily spot price movements and grade differentials.
Dublin May 1 report states that Ireland and the United States signed an agreement for exchange of consuls. The pact, signed by US Ambassador George A. Garrett and Irish Foreign Minister Sean MacBride, supersedes several Britain US treaties extended to cover Ireland.
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