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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Sep 27, 1950
Page
10
In Galveston and New Orleans reports dated Sept 24, 192?, cotton futures fell as selling pressure widened with spot firms seeking bids. Prices for various grades ranged from around 9 to 16 cents under prior levels, while mid and top grades showed declines. The market reflected broad weakness across futures and spot cotton with mixed daily activity.
News from New York reports cottonseed oil futures closing 20 to 39 lower amid pressure from market surges and a war-related slump. Foreign exchange also moves, with several currencies showing slight changes while the dollar strengthens against some peers.
Aunt Em Moreland, a 110 year old Black woman once enslaved in Alabama, died in Pittsburgh Texas on Monday. She was believed the oldest Negro woman in East Texas and survived her husband by 55 years.
The report notes a broad market drop after an inflation warning, with televisions leading losses and higher volatility in industrial shares. Government actions and passage hurdles cited as factors, while some sectors show late-day pressure and mixed crop and livestock results.
Market notes show cattle prices mixed with steady to stronger tone for SA stock. Slaughter calves 25 to 829, most sales around 25, cows and bulls mostly lower, vealers steady, top steers 28, heifers and sows varying with lighter weights around 20.
Grain prices drifted on Tuesday with little change across wheat and soybeans amid a firming mood in the pits at the board of trade. Reports show modest gains and declines in futures with nearby contracts easing while export demand provided some support, and cash prices in Chicago and Kansas City reflected mixed movements in wheats and corn.
A 15 year old junior high student died after being injured during a Russian roulette game in the Missouri Kansas Texas yards near downtown Houston. Police identified the youth as Henry Alpha son of Mr and Mrs Alpha. Five teen witnesses said a friend and another played the game. He died 15 minutes after reaching a hospital.
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