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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 30, 1935
Page
9
Market report from New Orleans shows March at 12.35, May near 12.43 and July around 12.45. Early gains of 3 to 4 points over yesterday's close follow a brief rise and dip as prices hover near opening levels.
New York business shows cotton futures rising early on trade buying and limited offerings with March at 12.36 and May at 12.43. Opening demand heavily from trade buyers pushed prices up, though some liquidation and selling trimmed gains by mid-session.
Chicago markets report strong hog prices with 180 plus pound tops near 7.90 and heavy weights 250-350 at 7.80-7.90 while light weights 140-170 bring 6.50-7.25. Cattle demand remains high with top steers and yearlings at 13.65 and widespread gains across killing classes, calves and cows. Butter firm with milk and creamery prices listed. stock market quotes mixed with many blue chips noted.
Andrew Jackson post No 87 American Legion adopted resolutions urging immediate payment of the veterans bonus and North Carolina ratification of the Child Labor amendment. Copies will be sent to NC representatives and state legislators. Huburt Olive addressed the mass meeting held at the Legion hall on East Commerce Street.
Secretary Wallace told the Senate agriculture committee that cotton acreage must stay restricted until foreign demand for American cotton improves. He noted exports declined sharply, with industrial and agricultural exports near 66 to 62 percent of ten year averages and cotton at 62 percent, on a volume and value basis.
New York traders saw slight fractional gains by midday as stocks moved modestly higher but overall activity remained dull. Factors keeping volumes muted included automo bile code expiration, pending gold decision, and upcoming BEC rules for floor traders. Grains and cotton edged up while bonds stayed mostly steady.
Celebrations spread across cities and states from Washington to Florida with balls at the Waldorf Astoria Atlanta Tallahassee and Jacksonville while Oklahoma ministers oppose fundraisers. Detroit reports a large donation drive led by Edsel Ford raising 25004 for the foundation.
A Salvation Army advisory board meeting at the Elwood Hotel endorsed adopting a community chest to support city organizations currently funded by public drives. Speakers including H A Millis J E Millis Dr W A Lambeth Logen Porter and Mrs M J Wrenn urged reorganizing city funding under a time paid secretary to replace four or five separate campaigns.
The commission backed land, air, and sea under a single super agency and opposed Eastman’s complex reorganiza tion plan as premature until Congress defines new duties. Delegates urged rapid water, pipeline, and highway controls and bankruptcy act changes, with Major Gilkes of Charlotte absent. R. K. Stewart led a well attended meeting with advisory board members and guests.
The article outlines a plan to recapture foreign markets by a world board to divide cotton trade. It discusses potential effects on exports if the United States remains a debtor nation or increases imports, and outlines three possible paths for domestic policy and world supply restrictions to reach parity prices.
Jacob Shrago Grand Master of North Carolina Odd Fellows spoke at Repiton lodge last night on friendship love and truth. Other speakers included Grand Secretary H A Halstead and W C Beamon of Goldsboro with greetings from Mooresville and Thomasville lodges. The event closed after a business session and a social at Mae's Dining room.
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