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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 17, 1929
Page
7
Trading in stocks remained light today in New York with prices showing a firmer undertone as buying appeared in oils coppers foods chemicals and assorted specialties. Several issues reached new highs for the year while United Cigar Tobacco and tobacco stocks fell to year lows and Sinclair led oil gains.
Opinions filed today include Underwood versus Dooley in Sampson affirmed. King versus Elliott in New Hanover modified and affirmed. Whitaker versus Carpenter Motor Car Co. in Durham new trial. Anderson versus Life & Casualty in Forsyth affirmed. Other Guilford cases affirmed or dismissed with no error.
Raleigh April 17. Although not sworn in until May 1 and the workmen's compensation law pending July 1, the Industrial Commission members are already receiving requests for services. Thurston A. Wilson said Champion Fibre Company of Canton with 3000 employees invited a representative to its plant to discuss the new law and foster cooperation with the state. Similar requests have come from other industries.
Winston-Salem April 17 Reports to the Western North Carolina Methodist Missionary Society show increases in both foreign and home mission contributions during the Jubilee year. Officers including Mrs. C. C. Weaver and Mrs. W. W. Hagood presented figures as delegates from districts such as Asheville, Charlotte, Greensboro and Winston-Salem gathered for the session.
Phi Psi national textile fraternity will convene in Charlotte on Friday for its first southern national convention. About 200 delegates from across the United States are expected. Alumni chapters in Charlotte and Greenville plus active chapters at N C State, Georgia Tech, and Clemson are co hosts. Arthur R. Thompson of Charlotte, president of the grand council, will be the official host. Several fraternal business matters are to be settled.
Five arguments against a sales tax were presented by James H. Pou in a Raleigh civic club talk. He said it raises business and living costs, is sinister and covert, unfair, spurs government spending, and could push business to mail order firms out of state.
New official Catholic directory reports a 423,709 rise in the national Roman Catholic population to 20,112,781. It lists bishops increasing by five to 104 plus 17 archbishops, four cardinals, 18,370 secular priests and 7,403 religious priests, totaling 25,773. Churches number 11,903 with 7,063 parochial schools teaching 2,488,682 children.
Chicago wheat fell today closing within 1 cent of the season's low as persistent selling wiped out gains previously seen from farm legislation prospects in dull trading.
Cotton opened steady with declines of 6 to 7 points amid favorable weather outlook and easy Liverpool cables. Trade and speculators covered early, May liquidation continued, and premiums for later deliveries held at about 59 to 60 points over July. Midday prices hovered near the day’s lows, with a quiet session and mixed buying amid improved forecasts.
Indifferent cables and good belt weather push initial losses of 5 to 6 points. Short covering later steadies the market, but a fresh downturn follows a bearish weekly weather report showing strong planting progress. May, July, and October futures slide with late noon trading hinting a rebound as weather forecasts remain favorable.
Eggs unsettled with receipts 51 604. Fresh gathered extra firsts 29 2914. Butter firm with receipts 11 147. Creamery extra 92 score 45 percent. First 88 to 91 score 44 percent. Cheese steady with receipts 8 994.
Railroad engineer Eldo M. Kattenberg collects auto license plates as a hobby. His trophies include plates from all 48 states and many foreign countries.
New York reports wealthy Long Island summer residents will create a youth country club to provide golf tennis baseball football and other sports with professional instruction. Ages 7 to 16 may join after moral character approval. A 60 acre Wheatley Hills property was purchased for 109000.
Three Colombians who left home last October to reach New York expect to arrive by Christmas traveling by donkeys through Honduras and neighboring regions.
David A. Schulte warned at his company’s annual meeting that rock bottom prices for smokes may end within two months if a four point price war stops. He said even millionaires are paying 2 cent cigarettes at 12 percent, blaming chain grocery stores.
In Greenwich Connecticut Nellie S Smart of Stamford leaves her 320000 house to be a home for 18 cats and four dogs A trust fund of 80000 is created for their care The arrangement highlights a pet centric bequest and the creation of a maintenance fund by the will.
Raleigh April 7. Governor O Max Gardner is known to answer his own telephone at the mansion when it rings. He sometimes picks up in the capital when reporters call at odd hours, a practice notable beside the president's use of a nearby office phone.
John Darius Hedgecock 70, died at his home five miles northeast of the city after several months of illness. Born November 24, 1858 in Guilford County, he lived in the area his entire life. Surviving are his widow Sophia Goad Hedgecock, three sons Grady of Washington DC, J B and H V Hedgecock of High Point, and five daughters Blanche Owen of Greensboro, B B Blount of Pinta Gorda Florida, Mamie Hedgecock of Greensboro, Lillie and Edith Hedgecock of High Point. funeral Thursday at Deep River Friends church with burial in the church cemetery.
Cotton spot in fair demand with price declines. American strict good midling 11.49 and good middling 11.09 led a sale of 6,000 bales, including 3,000 American receipts 5,000. Futures closed quiet with May 10.47, July 10.47, Oct 10.58, Dec 10.36, Jan 10.36, Mar 10.39.
Procter & Gamble announces a regular quarterly dividend of 2 on common payable May 15 with a record date April 25. Marmon Shipments reports first half 1928 activity while Canadian Pacific plans a 300,000 share issue at 170 per new share, record date May 2 and rights expiring June 17. General Electric logs first quarter bookings at a new high of 101,265,200, up 27 percent from 1928. Graham Paige Motors reports Q1 net profit of 532,641 vs 257,783. A secondary stock offer sets common at 25 per share with unusual exchange terms. Martin Parry posts a February loss of 53,213. Otis Elevator posts Q1 net 1,692,500 vs 1,750,500. Oil of Ind. to offer minority Pan-American Pete stake one for one. Standard already holds majority. Rail freight totals rise to 956,364 cars for week to April 6, up 27,012 from 1928 and 2,457 from 1927. Bank of America to acquire Nassau Bank Brooklyn via stock exchange. U S Steel rights to common at 140 for record May 1. fifty-year bonds called for September 1. Averages: 30 industrials 304.19 up 1.76. 20 rails 150.02 down 0.1. JNO F CLARK & CO comment on market mix. Tobey & Kirk advise light oil exposure. JNO F CLARK & CO note continued irregularity.
Grain opinions suggest a period of market irregularity after Tuesday's shock. Analysts expect wheat liquidation and a potential decline, while corn may attract new buying power for a moderate turnaround.
Liverpool reports American points lower than due with spot sales of six thousand and middlings at 10.69. Weather and crop outlook mix with new crop acreage revised upward, suggesting early July delivery and possible move toward higher levels once weather improves.
Opinion column from Hornblower and Weeks discusses cautious market sentiments amid mixed data. Analysts warn against overconfidence as earnings uncertainty and inflation concerns temper investor appetite while some sectors show selective strength.
U S potato receipts reach 63 cars with 30 new and 157 old on track. United States shipments total 641 cars, stock trading fair to good though sacks weak and barrels mostly steady. Idaho russets and Wisconsin sacked whites show mixed prices with regional variations.
After weeks of illness J Gurney Cox of Poca hontas Virginia died yesterday in a Bluefield West Virginia hospital. He was a brother of Talton D Cox Herbert Cox Mraz Bertha Sheetz Mrs W T Saunders and Miss Effie Cox of this city. Funeral services will be held at Talton D Cox 209 Willowbrook street tomorrow at 10 30 a m with Rev Tom Alderman Sykes and Miss Clara D Cox officiating. Interment will be in Oakwood cemetery. He was a member of Central Friends church and is survived by a wife and a foster daughter.
Chicago market figures show hogs 16 000 head with direct 6 000. top hog price around 11.75 for about 185 lb. cattle and sheep trends vary. calves, bulls, and feeders move in specified ranges. grazing weights and stocker entries noted. fat lambs and feeder lambs listed with price bands.
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