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Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Jun 29, 1939
Page
17
New York investors faced a nervous session as whispers of a European crisis weighed on stocks. The market fell in trading with several shares dropping 2 to 3 points, while a late rally nearly steadied losses as total shares traded reached about 541,780 in the final half hour.
New York June 28 AP markets show stocks lower while silver and government bonds ease. Sugar tightens while coffee is easy. Wheat and corn slip on strong crop reports. Hog prices rise 15 to 25 cents, topping at 7.50.
Trading in New York eased as investors priced in European flare ups led by Premier Daladier and Winston Churchill. Silver prices fell 1 cent ounce, mining shares dropped with Cerro De Pasco and Sunshine Mining sliding, while bond market losses persisted though some European loans held steady. Turnover totaled 107000 shares vs 89000 prior.
Produce demand was slow in Pittsburgh on June 28. Apple stock across 9 cars held near market steady with Illinois transit baskets at 1.15 to 1.35 per bushel. Potatoes listed 43 cars with steady market. Bliss Triumphs and Cobblers varied by state with prices from 1.40 to 1.75 per 100 pounds. Butter eggs poultry steady. cheese unchanged.
Grain on track with New York nominal 26 cents. No 1 red 7142-72, No 2 red 70%4, No 2 yellow 4912-50, No 3 yellow Soybeans No 2 yellow 8614-8712. Grain in store transit billing attached wheat 5-6 above track, corn 412-5 above, soybeans 5 above. Oats and hay unchanged.
In Cannelton on June 28 the hometown nine rallied to edge Mammoth 6 to 5 in 12 innings. Lavender pitched for Mammoth with 18 strikeouts while Woody Lowe led Cannelton’s hitting surge in the extra frames.
Chicago, Pittsburgh and Baltimore livestock markets report June 28 with hogs varied by weight and region. Hogs mostly lower in Chicago, steady to higher in Pittsburgh, Baltimore noting higher packers and varied sow prices. Cattle calves and sheep show mixed changes. best heifers and yearlings command higher quotes while cows weaken in Chicago and Baltimore.
The Associated Press weighted wholesale price index for 35 commodities rose to 66.32 today, up from 66.25 yesterday and 66.30 a week ago. The index compares current prices with the 1926 average of 100, with historical ranges listed for 1939 through 1933.
New York June 28 unsettled trading as fears over potential lapse of the president's devaluation powers weigh on markets. Closing rates show Britain in dollars at 4.68 percent and 60 day bills at 4.76 percent while various currencies like Canada Japan and Germany quote notable figures across the board.
In New York on June 28 the July domestic sugar contract rose 5 points as early absorption of 2 delivery notices signaled tight nearby offerings. Other months closed 1 point higher or lower on 10,350 tons turnover. Refiners showed more interest in the raw market at 2.90 cents, with most offerings later seen about 5 points higher.
New York market data shows eggs totaling 31,454 cases with firmer demand. Mixed colors and whites move at varied premium marks and exchange specials, while butter weakens with creamery prices higher than the extra grade and specific score ranges noted.
Heavy dealings in coffee futures followed by near term liquidation after 30 July Santos notices and 1 in Rio. Santos up 2 and 4 lower on 53,250 bags sold. Rio steady to 1 down on 2,750 bags. Spot quiet.
New York June 8 reports brisk demand for print cloths and sheetings in Worth street cotton goods district. Mills held firm on prices with no concessions offered. Rayon goods showed fair demand in spun flakes. silk fabrics were slow as buyers waited. Woolen goods moved well while burlap prices declined five points.
New York June 28 closing investment trusts list shows Ask Dividend Shrs values for Fund Investors Inc and various fund trusts. Notable figures include Nor. Am. Tr. Sh. 1955 and 1956, U. S. Elec. Lt. & Pow. A and B shares with specified prices.
Report notes mixed stock activity with several declines and unchanged totals across listed issues. Traders watched key indices for direction as PRPSECOR 65 and related securities showed varied performance amid market uncertainty.
The butter market in Chicago on June 28 shows unsettled trading with varied scores and percentages across fresh butter. The New York Yankees begin training with Irving Hadley as the oldest pitcher, turning 35 on July 5.
The treasury reports for June 26 show receipts of 11 971 756.07, expenditures of 32 467 895.66, and a net balance of 2 946 055 554.87. Working balance 2 268 867 868.75 and customs receipts for the month amount to 21 089 578.24. Fiscal year receipts total 5 634 520 734.62 with expenditures 9 109 132 164.21. Emergency outlays 2 064 410 893.58, excess expenditures 3 474 611 429.59, gross debt 40 374 110 082.68, gold assets 16 071 440 023.84, and a daily decrease of 2 188 626.58.
Boston reports inquiry activity rising through the day though transactions remain scarce. 12 month Texas wools in Boston averaged 66 to 68 cents scoured. future delivery at about 65 cents scoured delivered to eastern users. Ohio and Michigan fleece quotations show a firming tendency.
New York cotton futures ended the session lower with the nearby July to January contracts posting declines. Prices closed at 9.43 for July, with October 8.73, December 8.55, January 8.43, mechanical 8.38 and May 8.33 cents per pound. Spot middling quoted at 9.83 cents.
Copper steady in New York with electrolytic spot at 10.00 to 10.50 and export at 10.07 percent. Tin holds at 49.00 on spot and nearby with forward 48.75. Lead steady in New York at 4.85 to 4.90, East St. Louis 4.70. Zinc steady at East St. Louis spot and forward 4.50. Other metals unchanged.
Owens Hack and Galan hit three runs as Hartnett drives in two. Moore Medwick Owen Slaughter Herman Gleeson collect multiple hits. Hack Hartnett go deep, Mize drives in sacrifice. Cooper Bowman J Russell McGee walk and strikeout tallies noted. French earns win over McGee as Moran Stewart Barr umpire crew. Time 2 05. Attendance 9035.
New York Giants topple Philadelphia 7 1 to 1. Bill Lehrman earns his sixth victory, limiting the Phils to six hits. Key hits come from Kampouris and Bolling with Chiozza, Demaree and Ripple contributing RBIs.
Incomplete game notes show Mulcahy pitching 2 2/3 innings off Beck and Pearson. Batters include Mulcahy and Lohrman with hits, an HBP, and umpire names Goetz, Ell, and Stark. Time 2 35. Attendance 5356.
Luke Hamlin earned his seventh win of the season as the Brooklyn Dodgers beat the Boston Bees 6 to 1 in Boston. A four run fourth inning keyed the Dodgers victory with Camilli Moore and Coscarart driving in runs. Errickson took the loss, while Hamlin went the distance surrendering one run. Attendance reached 2,745.
The report describes blows exchanged in Round Four with blows from Galento and Louis. The bell ends a flurry as both fighters trade powerful lefts and rights with Tony sustaining a cut and heavy exchanges in close quarters.
Joe DiMaggio, Joe Gordon and Babe Dahlgren led a Yankee onslaught in the opener, with 27 hits and 53 total bases setting a club record while combining for multiple homers. The second game featured Crosetti Gordon and DiMaggio homers as New York won 10 to 4.
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