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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Sep 12, 1950
Page
5
New York reports a generally lower market as selling focused on automobile and radio TV issues amid anticipated effects from consumer credit curbs and higher down payments. Rail shares helped steady the market, with 1,152 issues changing hands and the AP average down 0.3.
New York September 11 cotton futures closed about 80 cents per bale lower after a firm open. Traders locked in profits after last week’s seasonal highs amid export control uncertainty and heavier crop movement. Hedging was moderate as demand appeared urgent only early, with CCC protection and ECA credit concerns shaping sentiment. Washington suggested cancellations against outstanding authorizations may curb shipments, while Japan and dollar holders were poised to influence future prices.
Spot cotton in New Orleans closed steady with a 25 cent decrease per bale. Sales totaled 5,276 with low middling at 35.70, middling at 40.70, and spott middling at 41.55. Receipts were none and stock stood at 462,001 bales.
Private funeral services are held for Mrs Alma Rather Duncalf wife of Professor Frederick Duncalf at 4 30 p m in the family mausoleum Oakwood Cemetery. She died last Tuesday at Waquoit Massachusetts where she and her husband were summer residents since 1921. Survived by husband sister Mrs E J Villavaso Austin nephew Roy L Rather Jr Woods Hole Mass and niece Mrs William D Laybold Rochester Mass pallbearers include Austin officials San Antonio doctors and Gonzales residents.
Henry Gray sues Louis G. Whitehead and Dallas Highway Cabinet and Mill Works in 98th District Court for 3286 dollars claiming improper maintenance of equipment caused a finger injury on August 7.
Wheat, corn, oats and soybeans moved within narrow ranges as frost threats emerged in Nebraskas and Dakotas. Canadian crop estimates shifted the mood while U S market quieted after the early trading surge. Closings showed soybeans and oats near highs. wheat lagged with hedge selling and mixed futures.
Cattle and calves at the San Antonio market numbered around 2,600 and 2,400 respectively with broad activity and steady to strong prices across grades. Beef cows, bulls, stocker calves and hogs showed varied gains, while sheep and goats also posted gains in specific classes as Fort Worth and Chicago markets reported parallel trends.
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