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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 16, 1929
Page
9
In New York on April 16 the market remained in the doldrums despite bulls trying to push a rally. Oil and food shares rose to year highs while steel, motor, and copper stocks declined. Heavy copper liquidation and new lows for Grumpy Web Sterl curtailed gains. Skelly led oil advances with Simms and Union Oil reaching new highs.
Potatoes on track with 78 cars in transit. 20 new and 210 old stock. total U S shipments reach 503 cars. New stock trading good and market firm. Texas Bliss Triumph No 1 at 4 75 Florida Spaulding Rose 7 00 old stock. Wisconsin sacked round whites 60 80. Minnesota North Dakota 60 65. Idaho Russets 1 55 1 80 mostly around 1 60.
Chicago reports the American Bowling Congress tournament drew over 13,900 bowlers from across the states, with prize money totaling 107700, marking a record in sports earnings. Abe Langtry of Milwaukee asserts bowling leads in participation with leagues nationwide. Cleveland awarded the 1930 tournament site.
In Providence and Franklin a distinct feat emerges as four lawyers in a single family are joined by two families. Judge O. T. Doe of Norfolk court in Franklin leads one group while John P. Reagan Sr. of Providence is father to three attorney sons.
Lower Liverpool cables and dry weather pressure triggered losses in early New Orleans cotton trades. May, July, and October futures fluctuated with brief rallies on short covering and hopes for farm relief in Hoover's message, but closed modestly down from the day’s highs.
Fifty four American industrial concerns reported income gains of over 100 percent in the last year. Five firms showed more than 1900 percent increases, including a steamship line a steel forging concern a packing house a pipeline company and an electrical manufacturer.
Mrs Caroline Carothers Clement filed for divorce from Joseph Tayior Clement. They married May 5 1928 in Newport. The documents list his address as 350 Eastern Boulevard Charlotte North Carolina.
New York cotton opened today with a 2 to 7 point decline as eastern belt rains weighed. May contracts liquidated further but were offset by trade buying. July traded around 19.80 and New October near 9.68 as private cables noted Liverpool liquidation and limited cloths business. By midday, near-months absorbed, tone remained fairly steady with general business quiet.
Oklahoma oil field geologists nicknamed as rock hounds pebble pups and sample grabbers ask press to drop terms. Oil field scouts protest calls like oil buzzards and snoopers while truck drivers are termed swampers and tool dressers toolies wart hogs. Lease hounds secure leases and boll weevils insult workers unfamiliar with field.
Chicago April 16 reports farm legislation moved from bullish to bearish factor. Wheat finished near intraday lows down 4% to 4% net, corn down 2% to 3%, oats off 1% to 2%, provisions unchanged with a 12 cent drop.
Florida officials consider using state troops to guard central Florida amid a Mediterranean fruit fly infestation. Adjutant General Collins traveled from Tallahassee to Orlando to discuss plant board desires and feasibility of patrolling 15 highways in Orange, Seminole, and part of Lake counties. A federal quarantine may be necessary to protect nearly eighty vegetables statewide.
More than 100 teachers have applied for summer jobs on dude ranches in this region marking the first notable interest from educators. T J Cahill of the Dude Ranchers association says most applicants likely will be placed. Ranches spread across the West and Southwest offering guests a glamorized old west experience with various duties shared by staff.
Cotton market in Liverpool shows a quiet spot trade with prices down across grades. American sales reach 3,200 bales of the 5,000 bale total, while receipts total 9,000 with 400 American. futures close steady in May and July around 10.51 and 10.42 for March.
Coach Jack Beovlin leads the Purple Panthers against the Lenoir Rhyne Bears at 3 30 p m on Welch field weather permitting Captain Yow likely to pitch in one of the season s best college games Bears boast a win over Wake Forest and seek to derail the local collegeers in pursuit of the Little Six title
Fed member banks loans and investments fell 167 million in week ended April 19. March Canadian nickel exports reach 11 977 800 pounds valued at 2 790 769 versus 10 132 500 pounds in March 1928. Japanese embargo on gold exports nears lift though stock market holds. oil production dips 44 476 barrels to 2 616 000 in week ended April 13. Robt Reise and Co quarter sales to 1 728 811. Hoover to send message to Congress midday. U S Steel directors meet after 3 p m. Market averages show industrials 802.43, rails 1590.13. Centrifugal Pipe declares 15 cent dividend May 15 to May 6 record. Weber and Herborner earn 6.02 per share. pig iron sales in territory 6 000 to 7 000 tons. Brauch 4.33 per common share in 1928. Collins Aikmann 1.85 per share year to Feb 28.
The bulletin notes very cold temperatures in eastern and central belts with heavy rain in the eastern belt and continued rain in Alabama. Forecasts call for partly cloudy eastern belt, fair central and western belts with increasing cloudiness in west Texas. Planting progress varies from five to ten percent in Avery Texas to seventy five percent in Bishopville South Carolina with many locations delayed by wet conditions.
Chicago livestock prices show hogs near steady with 2,000 head traded. Hogs ranged from 10 to 11.60 per 100 pounds with top on desirable hogs around 11.60. cattle calves and sheep also moved with varied grade ranges and noted gains in several classes. Packers and feeders offered steady to higher tones across steers cows and lambs, with quotations listed for multiple weight brackets and quality levels.
Members of the High Point Builders' Exchange, about 50 strong, will dine tonight at the High Point Country Club. The event is hosted by exchange president R. K. Stewart and R. R. Ragan, inviting local contractors and supply men.
Liverpool report at 12 15 p m May July Dec 2 Oct 4 notes American points lower than due spot sales 5000 middling 10 77 against 10 85 yesterday. Forecast N C rain northwest coast today fair to morrow S C part cloudy Georgia Ala Miss La Ark Okla east Texas fair west Texas increasing cloudiness. Raining last night from Atlanta north. Worth Street business better. Print cloths sold in 500 to 1000 piece lots at full market prices. May forecast fair weather and liquidation. May may keep its premium.
E. F. Hutton & Co. expects stocks to turn reactionary after steel news but foresees a long term bull market in good issues. Hornblower & Weeks notes strong steel group development with U S Steel as an eventual market leader and favors Bethlehem Steel Republic and Youngstown Sheet and Tube.
A two sided trading session is expected with oils continuing strong while copper and special issue markets may see further pressure.
The note recommends reducing commitments in automobile stocks and favors steel Can dens and Johns Manville among special stocks. Halle and Stielitz and Josepthal and company are cited as sources advising holders to consider rallies to adjust positions.
Hentz doubts declines are permanent and favors buying on recessions. Pynchon expects temporarily lower prices. Keech continues to favor the long side. Orvis Brothers see long range farm relief legislation justifying buying on reactions. Hubbard Brothers report no new feature in news or trading.
Early yesterday buyers, aiming for large profits, returned to Transcontinental Oil. Erie stock sub seventy appears a solid buy and likely to rise with rail leaders, while Royal Baking Powder shows huge activity signaling further gains. holding is advised for now.
April 16 Raleigh reports prospects for early removal of state troops from the Gastonia strike zone are good. Judge N A Townsend says demobilization of two of the three guard companies will proceed if conditions improve, amid assurances from labor leaders that unions are not pushing a closed shop policy.
Orangeburg South Carolina April 16 The annual forty eighth district Rotary International closing sessions selected the conference city for 1930 The decision is expected to pit Hendersonville NC against Hickory NC for the next gathering Forty four Rotary clubs from North and South Carolina were represented Governor Way spoke along with other notable Rotarians from outside the region
An advertisement claims McCoy's Tablets help underweight men and women gain weight and improve health. It cites a sample 15 pound gain in six weeks and offers an ironclad guarantee: if after four 60 cent boxes or two 1.00 boxes no 5 pound gain and satisfaction, the druggist will refund. Marketed by McCoy's Laboratories via Mann Drug Co and other outlets, also distributing Cod Liver Oil.
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