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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 01, 1929
Page
5
Background for another broad market rise included eased credit and favorable trade news. Trading volume rose as many issues hit new highs for the year, with some gains near 16 points. Several names surged then retreated, while praises of motor and radio shares led to further optimism.
Raw sugar held steady with no sales reported in New York trading. Duty frees quoted at 3.58 and Cuban at 4.04. Refined sugar unchanged at 4.90 for fine granulated.
The Federal Reserve Bank of Richmond reports mixed conditions for March and early April 1929. Retail sales rose versus 1928 aided by good weather, textile mills ran higher, and bank debits increased, while crop profitability lagged, fertilizer use fell, and cotton prices and coal output declined alongside local industrial stoppages.
Col. Joseph E. Robinson sold the Goldsboro Argus after 44 years as owner and editor. New owners are Talbot Patrick editor and GM, B Arp Lawrance publisher of the Mecklenburg Times and Mount Holly News, and A W Huckle editor of the Rock Hill Herald. Robinson will still contribute columns.
Mrs Binnie Burton faced domestic trouble as her husband Binnie cut up her clothes and shoes with a large knife. He admitted to mischief while she claimed she could not keep clothes intact. The court ordered him to replace ruined items and urged the couple to patch up and keep the peace.
Nashville May 1 Major focus of today’s Methodist report shows college students in state and denominational schools increasingly pursue religious education. Culbreth cites growth in religious courses for credit, student conferences, and tax supported institutions expanding religious work.
Curiosity over Anne Morrow’s engagement ring as guests at a reception noted no diamond. Lieutenant Donald Keyhoe expects a $1 500 payment from Colonel Lindbergh possibly next month after a Paris flight wager on who would wed first. Louise and Lucy Young, wives of Burl and Earl, twins with alliterative and rhyming names, pursue divorces after a double wedding and joint honeymoon, citing living with in laws.
In Brandon South Carolina eight families of strikers voted 79 to 4 to refuse Augustus W. Smith's plan to return to work with later adjustments. Vernon Allen chaired the meeting as workers maintain that the stretch-out efficiency system must be abolished.
Opinions filed by the state supreme court list several cases with outcomes. Ford vs Willys-Overland Company in Richmond reversed. American Blower Company vs MacKenzie in Guilford noted. Others like Tate vs Amos Guilford, Southern Railway vs Schwartz Mecklenburg, Rutledge vs Fitzgerald Mecklenburg, Shuford vs Yarborough Mecklenburg, Co I T Corporation vs Drake and Burgess Mecklenburg, and McRee vs Talbot Mecklenburg affirmed.
A six sided airplane hangar with a round ise appearance is under construction in Los Anges drawing interest from local observers and aviation enthusiasts.
Rudolph Columbus a jazz band master from Nizza Czecho Slovakia says he is a descendant of Christopher Columbus.
At the Sheraton hotel delegates from the High Point Monarch club heard reports on the Charlotte district convention. Bob Blackburn and N L Garner read the reports while Florence Evers sang with Fielding Kearns at the piano. The High Port Jubilee Singers performed spirituals and guest T Y Giles, now a city resident, was introduced.
The New Orleans cotton market opened 8 to 10 points lower on lighter Liverpool cables, with July to Dec futures slipping early before recovering. By midday, rains in the belt offered support and prices rallied about 12 to 14 points from the lows, finishing the first hour near yesterday's close. midsession and final quotes showed firmer tones with July around 18.52, October 18.60, and December 18.71, closing steady to higher by 11 to 15 points on the day.
Cotton opened steady with a decline of 8 to 16 points as liquidation and reselling pressure surfaced in Liverpool and by local and foreign houses. Prices fluctuated nervously through the morning with July rising from 18.26 to 18.44 and December from 18.61 to 18.75, then holding near gains as covering and trade buying emerged.
In Raleigh on May 1 shippers won strong support against railroads in a two day hearing before the State Corporation Commission. Carriers sought to cancel North Carolina’s exception sheet and the special rates for less than carload shipments, while shippers argued for low intra state rates to keep NC competitive with Virginia.
Hogs 25 000 with 12 000 direct mostly 10 15c lower top 11.40 large market 160 280 lb hogs. Cattle 9 000 calves 4 000 fed steers and yearlings weak to 25c lower. Slaughter steers 13.35 14.90 1100 1300 lb range. yearlings 13.25 15.00. heifers 12.75 14.60. cows 9.50 11.75. Sheep 14 000 very slow bidding. lambs around 15.00 to 17.00 for good to choice. Ewes 7.00 9.00. lambs 14.25 15.35 for 92 lb. 92 100 lb 15.50 15.00.
U S potato receipts total 121 cars with 77 new and 22 old stock trading firm. Total U S shipments reach 873 cars as market remains steady. Bliss variety leads Texas with 4.75 to 5.00 per sack, Russets show ease, Red River and Ohio sacks quoted around 80 to 85 cents, Idaho Russell at 2.00 to 2.35.
Liverpool bunker market notes show American cotton prices steady to lower across grades. Prices for American strict good middling to good ordinary range from 10.75 to 8.60 with sales at 8,000 bales and 18,000 receipts, including 1,600 American. futures closed steady from May to March contracts.
The Stout murder case remained with the Guilford Superior Court grand jury this afternoon. Although a decision was expected, no word had been returned from the jury room by 8 o'clock.
Butter prices hold steady in New York with receipts totaling 17,139 pounds and cheese also steady with receipts of 322,870 pounds. The market shows no change in tone as of May 1.
Two base hits Myers Saunders C Causey Furgerson. Three base hits W Southern. Home runs G Southern Lassiter. Hits off Causey 8, Freeze 12 in 5 innings, Gadd 5 in 2. Strikeouts Causey 5. Walks Freeze 6. Winning pitcher Causey. Losing pitcher Freeze.
A group in Havana reportedly exported animal bones and ran a thriving trade. A leaked femur spilled whiskey derailing another rum running scheme and triggering a local disruption to their export activities.
Wild geese fly low and fast in Virginia. A motorist reported a goose struck the windshield and flew away, illustrating hazards on rural roads in the Old Dominion.
The Konjola medicine gains broad public praise as the Konjola Man at 105 South Main Street explains its 32-ingredient formula designed to address the root causes of ailments. A testimonial from A. Lee Delk of Archdale N C cites improved stomach, kidney, and bowel health along with reduced rheumatic pain, claiming a feeling of being a new man.
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