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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jun 03, 1929
Page
5
The New York market rose as wheat recovery and easy call money boosted sentiment. Oils and rails led advances while public utilities rallied. Simms, Atlantic Refining, and several others climbed, with Case Threshing and Chesapeake & Ohio posting notable gains amid a mixed session.
New York on June 3 reports weak foreign exchanges with quotational figures in cents. Major currencies show Great Britain at 484 3 8 for demand and 484 15 16 for cables, France at 3.90 7 8, Italy at 5.28, cables 5.23 1 4. Several European and non European nations list buy and sell demands including Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Greece Poland Czecho Slova kia Yugoslavia Austria Romania Argentina Brazil Tokyo Shanghai Montreal and more.
Stock prices moved irregularly higher at the opening. General Electric rose 23-8, while American Can Johns Manville Columbia Graphophone Motor Products Chesapeake and Ohio and St Paul preferred posted gains of a point or more. United Aircraft fell 1 percent and Radio Cerro de Pasco each lost a point.
Chicago wheat prices mixed with No 1 at 1.04 No 2 1.04 No 1 white 0.88. Corn No 1 yellow 0.85 No 1 white 0.43 Oats No 2 white 0.44 No 3 white 0.42. Barley 0.48 0.60. Tim by seed 3.85 4.60. Clover seed 0.90 25.00. Lard 11.65 ribs 12 bellies 13.50.
New York prices show July steady, October 18.28, December 18.17, January 18.56, and March 13.62 as of June 3. The market movement indicates a balanced start across the contract months.
English tea drinkers rejoice as the removal of the duty lowers the price of tea for consumers by about eight cents per point.
Aberdeen North Carolina June 3 J J Heeckart 65 president Bennetsville Cheraw railroad died here Saturday afternoon will be buried at 4 oclock this afternoon. Heeckart had led the railroad since 1906 and home was here. Survived by widow and one sister.
Dr and Mrs W J McAnally attended the graduating exercises at Memorial hall Salem college this morning. The baccalaureate address was delivered by Dr Francis P Gaines president of Wake Forest college.
Bender Abbas Persia June 4 P Van Lear Black Baltimore publisher and aviation enthusiast arrived this afternoon from Bagdad. He is on a flight from England to Japan.
Washington reports the Ancient Egyptian Arabic Order of Nobles of the Mystic Shrine will continue using its name and insignia today. The organization, comprised of Black Freemasons, maintains its traditional title and symbols as part of its ongoing activities.
The Tacna Arica treaty ending the Chile Peru boundary dispute was signed in Lima Peru on June 3. The accord settles a long pending territorial dispute between the two nations and marks a diplomatic milestone.
A description notes Australia with vast area roughly equal to the United States has a population near 6.3 million, slightly fewer than Illinois. The statement emphasizes population size rather than geographic or economic details.
Ethel M. McLennan of Sacramento files in the District of Columbia Supreme Court a mandamus suit to compel Interior Secretary Wilbur to justify canceling oil prospecting permit applications under the Hoover oil conservation policy. She argues she is qualified under the February 25, 1920 act and that the secretary overstepped authority. Wilbur in Baltimore with no comment.
New York cotton prices opened steady with a July decline and rose through the first half hour as July led gains on buying for trade and Wall Street. Liverpool spot sales and Egyptian and Near Eastern cloth inquiry supported a rally, with July reaching around 18.38 and December about 18.68, before profit taking trimmed early advances.
Chicago grain traders opened with frantic buying after reports the government may create a $100,000,000 fund to aid farmers in handling a large wheat surplus. Prices jumped from 13 4 to 3 4 cents at the opening with wide fluctuations across pit sections.
Grain prices surged in Chicago with wheat rising sharply at the open and ending higher by about 58-8 to 6 1-8 cents over the prior close. July wheat finished at 1.035-8 dollars, the first time under a dollar in six years.
In New York on June 3 cottonseed oil prices closed firm across contracts. Prime summer yellow stood at 9.55 with crude near 7.50 to 7.75, while futures for January through December ranged from 9.66 to 10.01. Sales totaled 18,900 units.
The raw sugar market was quiet with no sales reported. Offerings stood at 3.52 for sports duty paid while refined sugar held at 5.00 for fine granulated.
Chicago is the scene as Catherine Cassler 40 is again jailed amid new murder accusations tied to the death of Cammedia Soutar 24 whose body was found in a swamp near Hebron Indiana A revolver threat by Cassler against Soutar and her husband along with bullets matching the victim's calibre found in Cassler possessions fuel the case Cassler's son Edward testified of a gun in her possession but the weapon remains missing Authorities hold Cassler in Valparaiso Indiana awaiting further inquiry into the Hebron killing
Greensboro June 3 Two pro am teams led near 72 at midway in the Sedgefield tournament preview for the Carolina meet opening tomorrow. Asheville amateur Allan Smith and pro Frank Clark head one group while Pat Petranek and W J O Connor form the other with 72 at the turn.
Premier Ramsay MacDonald spent a weekend at Chequers Court with leaders of the Conservative party. The discussions were held amid uncertainty over his future, with no decision announced on whether he would surrender the reins of government.
Monday the House debates a special rule and takes up a census reapportionment measure. The Senate pursues Borah bill provisions for federal marketing regulation of perishables. House Senate farm bill conferees press to reconcile differences amid an adjourned Sunday session.
Chicago market summary shows receipts 45 000 cattle and 12 000 sheep with higher bids. Cattle and calves strength across weights with fed steers at 18.50 to 15.25 and heifers 12.75 to 14.75. Lambs and ewes tight with California lambs around 16.25 and natives near 15.50, fat ewes lower.
Potatoes receipts and shipments reported with mixed prices across varieties. Sacks and bbl markets firm for sacks while bbls ease slightly. Bliss sacks in Alabama range 3.75 to 3.90, Irish Cobblers in Carolina 5.25 to 5.50, Wisconsin and Michigan round whites and russets listed with gains and price spreads.
Cotton in Liverpool sees steady prices with American grades leading gains. Spot sales reach 15,000 bales, including 13,700 American. receipts total 9,000 with 8090 American. Futures close around 9.84 for July and similar levels for other months.
Duke University Dean Elbert Russell was principal speaker at Wofford College graduation in Spartanburg South Carolina. Eighty four graduates received diplomas this morning.
Auto enthusiasts in the Netherland East Indies refuse to buy anything but the newest, high-priced car models this season, signaling strong demand for premium brands and updated features. Strong interest appears centered among affluent buyers and collectors in major cities.
Floyd Dicks of 300 Ennis street was badly injured when struck by a shifter from the High Point railroad at the West Green street crossing near the West End fire station. His left arm was mangled and later amputated at High Point hospital. several ribs were broken and body wounds noted as he lay in Sechrest's ambulance. He remained hospitalized that afternoon.
The Supreme Court disposed of the entire controversy in the jury shadowing case, ruling the lower court decision valid for all defendants except Burns. Justice McReynolds stated the defense failed to prove detectives contacted jurors and noted potential risks to court self preservation. Burns’s 15 day sentence was set aside.
United States Attorney Leo A. Rover said the oilman will start serving a six month sentence for criminal contempt once he finishes a three month term for refusing to answer questions. The remarks place the case in Washington on June 3.
A list of graduates and degree recipients from various institutions includes Ellen Glenn of Lancaster and Bess Hoskins of High Point among students earning degrees. Named graduates span Pleasant Gardens to Archdale with towns such as High Point Charlotte and Lexington represented, reflecting regional postsecondary attainment.
Leaders face a Senate timing decision on the tariff bill as they await progress on the farm bills and the joint conference committee's work. Debenture issue return to the Senate is expected this week, with debates on census reapportionment and Republican proposals continuing.
The article notes national guard members were present in an incident involving equipment use. The American Federation of Labor asked if the department authorized it. Secretary Good has not received a formal communication. The case may be reviewed by the governor if illegal, with the judge advocate general to examine the law. No severe penalties expected if illegal. The aim is to prevent recurrence.
New York June 3 Babe Ruth was taken to a hospital for a heavy cold in a precautionary move to prevent pneumonia. He sat out yesterday from the Yankee lineup for the first time in two years and is expected to be out about a week.
Greenville South Carolina June 3 reports all employees at the Ware Shoals Manufacturing plant near Greenville went on strike this afternoon. Details were unavailable and reporters were told no one could discuss the situation.
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