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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 14, 1929
Page
9
The stock market rested in a listless lull as limited trading yielded a balanced close. Only 1,363,090 shares traded, oils led with firmness, and traders expect potential money tightening next week amid Congress sessions and looming tariff and farm relief actions.
In Spring Hope on April 13 AP reports a frightened mule hitched to a new wagon tore parts from a passing automobile and destroyed a fire hydrant in the business district. Driver M C Hocutt suffered slight injuries from the incident and the horse caused property damage.
Business activity remains cautious with unsettled markets until formal actions finalize. Several large operators have chosen to take a break and travel abroad as global conditions influence domestic plans.
A county wide canvass for funds to support the Davidson County free public library starts next Tuesday. Over fifty men and women will serve on canvassing teams with Lexington city wide efforts to follow. The goal is 3 000 dollars to meet a 5 000 dollar Rosenwald fund offer. Canvassing teams will operate in Thomasville and other county areas.
More than two thirds of all astronomical observations are now made with photography, reflecting a shift in method toward image based data and recording techniques.
New York reports stocks moved up over the past week as favorable first quarter earnings buoyed buy ing though trading remained light. Call money stood at 7 to 10 percent with time money at about 8 1 2 percent. a modest reduction in the 10 percent rate is anticipated mid month.
In New Orleans on April 13 traders pushed cotton higher amid larger March mill consumption and favorable weekend weather prospects though British board of trade data and profit taking tempered gains. July rose to 19.98, closing 19.91. October 19.75 and May 19.83, with December up eight points.
In Alexandria Tennessee an early morning fire destroyed the Goodner and Son store, valued at 35000 dollars. Two men in a car with a foreign state license are under suspicion after investigators questioned them Friday.
Eastern time network programming across WABC WEAF WJZ WGN and others including ballad hours sermons orchestras and church services through late night with multiple stations broadcasting combined lists of programs and host notes for April Sunday schedule.
Port movement report shows New Orleans, Galveston, Mobile, Savannah, Wilmington, Norfolk, Baltimore, New York, Boston, Houston and minor ports with middling prices, receipts, exports, sales and stocks. Interior movement covers Memphis Augusta St Louis Fort Worth Little Rock Atlanta Dallas Montgomery with totals for today and week and season figures.
Lexington April 13. Rumors claim C. R. Russell resigned as county road superintendent. Russell denies quitting and says he remains on the job though unsure of his exact authority due to a dispute between county manager C. H. B. Leonard and Russell over road mailers.
Cotton goods were quiet today in New York. Raw silk unchanged. Burlap markets less firm. New fall lines appear in light weights. Fine and fancy goods of specialty character ordered steadily from mills for fall and early spring 1930.
In New York on April 13 demand for rails supported a firmer bond market amid brighter credit outlook. Rails lagged industrials but finished a touch higher while foreign issues advanced. Buenos Aires 6% fell slightly on light turnover as St Paul adjustment 5s steadied. In cotton, nervousness over weather lifted near term buying with July futures rising to 19.99 and May/October futures closing modestly higher before end of session.
Wheat futures rose as traders focused on Washington farm relief prospects, with gains trimmed by late profit-taking. Corn and oats showed firmness but retraced, while hog values remained near steady and provisions drifted lower on the day.
N O Cottonseed Oil in New Orleans reports quiet but comparatively steady activity with yellow oil closing unchanged at 9.25 and crude at 8.37 to 8.62. Futures end at April 9.30 May 9.50 September 9.68 October 9.65 as markets mirror cotton lard and corn trends.
New York April 13 Cottonseed oil trade was quiet and irregular with May as the feature. May closed 2 points lower while other months were steady to 5 points higher. Refiners absorbed May and sold September, locals and commission houses reversed. Sales 4,200 barrels. Prime crude nominal prices listed for May July September and October sums.
Naval Stores report from Jacksonville on April 13 shows Ate Turpentine firm with receipts 871 shipments 378 stock 18289 and Rosin firm with receipts 1265 shipments 4090 stock 44211. Prices quoted include B 6.00 D 6.35 E 7.00 F H .20 25 I 7.20 7.30 and other grades W W X 8.90.
Silver bullion quoted at 25.13 1 60 per ounce with a 3 3 4 percent money rate. Discount rates show short bills at 5 3 16 percent and three month bills at 54% 5 16 percent.
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