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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
May 21, 1949
Page
9
SAN ANTONIO May 20 AP Cattle prices show steers steady cows steady to higher bulls up to 25 cents calves strong gains stocker calves and pigs higher week’s top values reach 22.65 for steers and 27.50 for calves with beef cows around 18 dollars and sows around 15 dollars.
On May 21 1861 Texas joined the Confederate States with a new constitution approving delegates to a Montgomery convention. It mirrors the US model but halves terms to six years for president and VP and bans reelection. Montgomery named capital. later moved to Richmond. Texan delegates noted for prior national convention experience. Jefferson Davis sworn in February 19 1861 as provisional head.
The New York stock market fell for the fourth straight session as prices dipped to their lowest average of the month amid weak trading. Volume dropped to 740000 shares, with 502 issues down and 202 up among 958 traded. several steels firms hit new yearly lows and notable names like Chrysler and American Telephone closed lower.
Chicago and Fort Worth markets report May wheat up while new crop prices slip. Open interest signals boosted futures, with Canadian weather and crop forecasts cited. Cash grain demand remains fair. corn, oats, sorghums and lard show varied moves across the day.
Cotton futures closed firmer up 25 to 50 cents as traders covered short positions. A large nearby July sale by a leading spot firm and reports of substantial mill sales fed gains. Loan entries totaled 32,589 bales for the week ended May 12 with season-to-date loans at 5,306,884 bales. Repossessions and government stock figures accompany the move.
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