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Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Jun 16, 1936
Page
16
The Associated Press reports a volatile market in New York with hopes for industry expansion offset by fears over potential tax legislation. Steel and rail stocks slipped while utilities and select techs rose. Heavy trading followed expectations around soldiers bonus spending and broad economic signals.
New York June 15 AP markets show stocks steady with slight advances in specialties. Bonds even, rails higher, oils and specialties in demand. Foreign exchanges mixed, gold currencies decline. Cotton steady to higher with domestic and foreign trade buying. Sugar higher on trade buying. Coffee lower due to foreign selling.
Boston reports light demand in the new clip wool with scattered trades at 85 to 87 cents for fine grades and lower for blood and half blood wools. Cincinnati notes butter and eggs pricing, while New York raw sugar stays steady and coffee declines after July futures sell-off. Pittsburgh dairy prices show varied milk and cream products amid broad market activity.
Chicago market notes 16000 hogs with direct sales 5 500. cattle 13000 with steers firm to weak and bulls around 8.75. sheep 8000 with spring lambs steady to strong. California ducks and yearlings prices listed. Pittsburgh reports 1806 hogs with direct sales higher. cattle 1000 with steady to lower values. Baltimore cattle 700 and 150 heifers. overall livestock activity shows mixed movement across regions in mid June.
Grain and provisions report from Toledo notes nominal grain prices with Wheat No 2 red at 91 to 93 cents, Corn No 2 yellow 3 to 4, Oats No 2 white 90 cents, and Grain in store. Timothy No 1 87 cents, Clover No 1 cf new alfalfa first cut at major values. Wheat straw quoted at 4 dollars a ton. Also brief New York market mention of cotton and silk buying with little activity.
New York June 15 Polish obligations fall 1 to 3 points as demand centers on medium and low priced issues. U S government bonds end unchanged to up 3-32. Treasury 3% bonds of 1943 at 108 15-32, 3 ¼% of 1944 at 107 27-32, and 2% notes at 103 32 show gains. The Associated Press average of 60 stocks down 0.4 to 6% and rail bonds steady.
Boston investors note the nation’s income remains well below 1929 highs but has climbed steadily since the 1932 low. If first quarter gains continue, 1936 income may near 59 billion dollars, lifting per capita income from 316 dollars in 1932 to around 460, with about one fifth of the total consumed by taxes.
June 18 New York live poultry steady with by freight and express quotes for fowls roosters turkeys ducks and hens varying by region including Northwest Long Island and Pacific Coast. Dressed poultry and fresh frozen markets show broad ranges for chick ens fowls old roasters turkeys and ducks with premiums and exchange specials noted.
Pittsburgh market report shows modest demand for produce on June 5 with varied prices across fruits vegetables and dairy. Notable items include apples New York Baldwins Virginia Winters Tennessee early varieties and Michigan Rural potatoes butter cheese poultry and meat prices with small steady ranges and regional variations among farm products.
A dense radio program log lists numerous stations and programs across networks WABC WJZ WGN and NBC. It mentions orchestras singers and dramatic segments including Jacobs and Cugat with multiple time slots and regional feeds, ending with market data and commodity quotes for copper tin and aluminum.
Washington June 13 The treasury balance and receipts for June 12 are reported with detailed figures: receipts 847,069,164.04 dollars, expenditures 70,301,227.01 dollars, net balance 2,316,996,240.48 dollars, customs receipts for the month 4,135, Gi0 Aa, and fiscal year totals since July 1 show receipts 3,749,55,910.08 and expenditures 6,627,722,677.098 including 2,179,605,542.41 of emergency outlays, creating a deficit of 3,078,186,765.20. Gold sets at 19,485,970,213.10. In Chicago, Butler Market shows limited movement with minor gains.
Utilities and the industrial specialties rose fractions to around on the Leading, while most issues eased. United Gas preferred touched 110, United Light & Power preferred at A and the A shares at 7, Pittsburgh Plate Glass 221, Aluminum Company of America 120, Atlantic & Pacific 113 and American Gas & Electric at 8. Oils remained steady but dipped late. Insulated Creole Petroleum slipped to 2h. Other declines included Bunker Hill & Sullivan 64, Cord 5, Montgomery Ward A 132 and Sherwin-Williams 128%. Total transfers about 237090 shares.
Hollywood, June 15. Mme Ernestine Schumann-Heink celebrated her seventy-fifth birthday with tears of joy as the federal government delivered the World War veterans bonus on the day. For almost 20 years she has supported soldiers with her money and her famous voice, calling the soldiers her beloved boys. The birthday and bonus became a memorable double tribute.
Senate approves civil service retirement for J Edgar Hoover era FBI agents ten in number. Senator Wheeler warns of probing the entire justice department unless funding methods change. Senator Vandenberg defends the bill as the vote 33 to 28 continues consideration past the calendar limit.
The Associated Gas and Electric corporation a public utility holding company with subsidiaries in 23 states and the Philippines reported in a preliminary condensed pamphlet for 1935 operating revenues of 106,904.94 vs 102,350.105 in 1934. Operating income before retirements stood at 43,644.435 compared with 44,50R.ATM for 1934. the year-end balance was 10,559.346 before interest deductions, vs 10,446,222 in 1934.
Daily departures from Thatleston terminals include eastbound and westbound trains and Greyhound bus routes. Notable times list Le Le Eastbound from Thatleston to Wash and Cinn with intermediate stops Elkins and Ind. The schedule notes variations and daily changes and includes connections to New York Central and Virginian lines along with oil price data from Associated Press regional wire.
The measure seeks to prevent family separation over poverty, creates county and state relief funds, sets monthly limits for aged and blind individuals and dependent children, reorganizes public assistance under a new department, and requires liens and life-insurance transfers from needy pensioners.
Mrs Allie Dickerson Proctor took oath as a Fayette County house delegate marking a historic first for the county with two women serving. Fellow delegate Mrs S W Price, a multi term Democrat, sits with Proctor in the session. Governor Kump appointed Proctor to fill her late husband C W Proctor’s unexpired term. Roses rested on both desks as the session opened.
The Rev. R. M. McClain 53 of the Methodist Episcopal church, South, died at his Cedar Grove home after a brief illness. The body was moved to B. C. Hooper funeral home in Montgomery. Funeral services set for three this afternoon at the church. Burial planned tomorrow in Upshur county near Walker ville. Survived by widow and four children. He pastored Southern Methodists in Cedar Grove, Belle, Glasgow and Dickinson.
AKRON, June 15. Firestone Tire & Rubber company reports net profit of 2,754,675 for six months ending April 30, 1938, up from 2,155,684 a year earlier. After dividends on six percent preferred stock, earnings are 70 cents per share on common stock.
Mrs. Joseph H. Clark of Chesapeake said yesterday her husband is ill in a veterans hospital and is not the J. H. Clark indicted by the grand jury on a breaking and entering charge.
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