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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 01, 1929
Page
13
Stocks closed irregular as wheat slid to years’ lows in Chicago. Call money ease boosted utilities and rails while gains outweighed losses. several major shares hit fresh lows before recovering.
New York May 31 under German obligation leadership bond prices recovered mildly as the reparations pact in Paris shifted attention to foreign issues. German agricultural bank securities rose, German General Electric gained, French and Belgian obligations were in demand, rails were uneven, and industrials utilities showed little movement amid light trading. Total bond sales reached par value $9,164,000.
United States government bonds quotes from New York show Liberty 349s at 96.8 First 4 percent at 98.29 Fourth 4 8 at 99 Treasury 448 at 106.10 Treasury 44 at 103.10 Treasury S458 at 100.12 Treasury 3 8 at 96.10.
Market for currencies shows easy conditions with quotations in cents for major and minor currencies. Highlights include Great Britain at 4847-16 and 484, France at 390 and 291 cables, Argentina at 41.97, Tokyo 44.25, Shanghai 58.95, and Montreal 99.21, with numerous other deman ds and cable prices listed.
Call money in New York May 31 remains steady with all loans at 6 percent. Time loans show easier demand with 60 to 90 days at 8 percent and 4 to 6 months also at 8 percent. Prime mercantile paper and bankers acceptances stay unchanged.
Toledo grain prices show No 2 red wheat at 1.14 to 1.15, No 3 yellow corn at 0.85 to 0.86, No 2 white oats at 0.45 to 0.46, No 2 barley at 0.61 to 0.62, and No 2 rule at 0.98, with other items unchanged.
Cotton goods opened quiet with an easier tendency due to lower raw cotton. Print cloths saw limited bidding, burlaps remained quiet, and raw silk prices held though dull. Committees are being appointed to discuss wool industry stabilization across the trade.
May 31 report shows cabbage cars and onions steady with regional price ranges. Michigan rurals and Maine green mountains cited for potato stock, and South Carolina stock values listed with varied crate and sack prices.
Bluefield West Virginia First National Bank Building lists Hancock Investments alongside multiple area firm stocks. Entries include American Coal Co. .852.00, Blackwood Lumber, Sterling Hardware Co. 106.06, Va Armature Co. 156%, W. M. Bitter Lumber Co. 177.50, and a Gift Stock designation.
Butter prices in Chicago eased into a steady to firm tone on May 31 as receivers held all grades closely and buyers showed renewed interest. Quotations clustered around 89 to 93 with scores and percentages noted for Fresh and Centralized items reflecting modest demand.
Flour prices in New York were unchanged on May 31, with market activity steady and no significant bids or offers reported. Traders await further developments influencing grain and commodity markets.
Chicago May 31 grain values hit new low records as selling pressure spreads from Winnipeg. Wheat fell 2% to 248 net lower, rye 2% to 6 4c down, corn 1% to 2c off, oats 1 to 3%c drop while provisions varied from 25c setback to 10c rise.
Dressed poultry steady in New York trading. Live birds irregular with broilers priced by freight 24 by express 25 47 50, fowls by freight or express 30 31, old roosters by freight 15. Eggs irregular receipts 46 195. Fresh gathered extra 32 to 34 percent, extra first 31 to 32 percent, firm 38 to 41 percent. Nearby hennery whites, closely selected extra 38 to 40 percent. nearby western hennery whites first to average extra 32 to 37 percent. Pacific coast whites extra 38 to 41 percent.
Chicago May 31 cattle receipts 25 000 with 7 500 direct and 6 000 holdovers. Opened 5 to 15 higher, closed 5 to 10 lower. Hogs 185 to 210 pounds sold up to 11.05 per hundredweight with loads. Butchers ranges for various weight classes cited from 9.55 to 10.95.
Strong demand for medium to heavy fed steers and yearlings with top prices around 14.50 to 16.25 per hundredweight. Cattle receipts include calves, heifers, cows, bulls, and vealers with varied grades. sheep receipts show shorn lambs and ewes with prices listed for multiple weight classes.
Receipts show cattle with steer prices from 9.00 to 13.75 for various grades and heifers from 7.75 to 12.50. Cows bring 5.00 to 10.25. Sheep and lambs range 2.00 to 16.25. Hogs quoted across lights to heavies 7.50 to 11.65 with misc. calves at 5.00 to 15.00. Receipts noted for sheep, hogs, and calves.
Department of Agriculture cattle swine and sheep receipts and price ranges in Pittsburgh. Hog receipts about 2300 with varying classes from mediums to packing sows. cattle receipts none with steers and heifers in ranges from 9.75 to 14.50 depending on weight and quality. calves vealers and milk fed grades listed with several price points. sheep and lambs showing weights from 89 to 150 pounds with prices from 5.50 to 17.00 depending on class.
Atlantic City May 31 A new tuberculosis discovery could detect infection in three to four days instead of a month. It comes from the Rockefeller Institute Yale chemistry work and a Chicago purification of tuberculin. Seven universities back the joint research. The effort dissects the tuberculosis germ to identify the disease causing part and find an antidote.
Virginia Hogan of Omaha Nebraska enjoys an all expenses paid visit to New York after winning the national spelling contest in Washington DC. She tours the city and takes in major sights as part of the prize package.
University of Chicago doctors Dr. K R Long and Dr Florence B Seibert report a crystalline, absolutely pure tuberculin that can distinguish tuberculous meningitis from non tuberculous cases early. The purified substance aims to improve pediatric diagnosis and explore links to bird, chicken and cattle tuberculosis and human disease.
At a Washington conference the national research council pressed preservation of Mississippi valley mounds for scientific study. Looting by tourists and farmers destroys relics and context, risking loss of ethnohistoric material. Efforts aim to keep sites intact for research and education in states where they lie.
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