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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 17, 1930
Page
15
The market fought off a fresh bear attack with erratic trading. In the close the price index of 99 leading stocks dipped slightly while rails rose modestly and U S Steel recovered after an early drop. Cotton weakened to new lows as grains fell on rains and Liverpool wheat.
A five room house with two acres of land is offered for sale or rent just outside the city limits. Contact phone number 9063 for details. A-8-19.
Bearish activity faded after a two hour session as curbs closed steady to firm on light volume. Electric Bond and Share led losses but recovered, while American Super Power and Duke Power rose about one point. Missouri-Kansas Pipe Line hit 7. Cities Service held firm.
Rudyard Kipling visits the Cemetery of Due Corners in Loos France seeking the grave of his son an Irish Guards officer killed in World War I A monument to British war dead is dedicated on the day of his visit.
New York reports show persistent cotton weakness with prices hitting new low moves for the current movement. The December contract fell to 11.51, closing down 28 to 35 points, as liquidation and selling by southern dealers local brokers and commission houses dominated trading.
Chicago August trading sees corn prices retreat despite ongoing moisture and drought rains. Markets fade on damp next week outlook, while wheat and oats fall alongside bearish signals from Canadian farm policy tensions.
Cotton goods were quiet and weak today with wide sheetings cut to 50 cents for 10 4 bleached, down 6 cents per yard. Southern mills plan three weeks of cut production in September and October, then alternate week operation. Trade softer for fall coats, fine combed goods sold moderately, burlap unchanged, raw silk unchanged and market dull.
Congress approved 666000 dollars to enlarge Bolling Field as part of the army air program. A 345 acre tract of land has been purchased to expand the airport.
France exported aeronautical products worth 8 577 320 dollars in 1929, while imports reached about 140 000 dollars. Commercial airlines logged 5 661 000 miles, transported over 25 000 passengers and more than 3 531 700 pounds of mail.
Railroad bonds strengthened as trading remained quiet but firm on the New York Stock Exchange. New highs appeared across carriers and utilities, with notable gains in Union Pacific 4s, Southern Pacific 4s, Chesapeake and Ohio 4s, and Reading Co 4s among others. Utility issues held previous gains while American Telephone and Dodge Brothers showed activity in convertibles.
France shipped more than 100000 tons of silk products to the United States during the previous year highlighting strong trade in textiles. The report notes substantial export volumes and ongoing commercial ties between the two countries.
Renowned director Ernest Lubitsch, famed for The Love Parade, is now directing Monte Carlo at Paramount studios in Hollywood. The project signals a return to the studio stage with Lubitsch at the helm.
The New Orleans cotton market opened quiet on a short Saturday session as prices fell due to unfavorable Liverpool cables and hedge selling from increased movement of new crop. October and December futures slid 28 to 32 points, closing near day lows with a net decline of 29 to 37 points.
Cottonseed oil trading closed fairly steady with a small end of week adjustment. Prices faded modestly as cotton and grain markets stayed weak. old contracts shifted 5 points down to 2 points up. Total volume 1,100 barrels with price quotes across several months and types.
In New Orleans on August 16 the cottonseed oil market showed a fair steadiness as prices eased with cotton declines and light trading. Prime summer yellow oil closed unchanged at 7.65 and prime crude at 6.60 to 6.62, with August at 7.45, September 7.50, October 7.50, December 7.62, and January 7.65.
Public education in Scotland including the Royal Scottish Museum upkeep ran to 35,000,400 dollars in the last fiscal year.
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