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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 12, 1928
Page
8
Trading in cotton goods slowed versus last week as April sales exceeded production but output remained light. Unfilled orders grew while stocks rose. branded bleached goods sold, prices for various lines edged up or held, and New Bedford mills faced strikes with no immediate price impact on fine cottons.
The census bureau reports August 1 to April 30 seed crushing totals at 4,516,244 tons, down from 5,917,627 last year. Cottonseed on hand at mills reached 113,019 tons, versus 311,931 a year ago, with crude and refined oils and cake and meal also lower or mixed compared to the prior period.
Funeral services for Mrs Amanda Everhart were held at Ebenezer M E church near Lexington. Rev W B Davis and Rev Mr Raper officiated. Interment followed beside her husband. Pallbearers included Roscoe Sowers Vernon Sowers Olin Sowers Paul Sowers Robert Conrad and Odell Hinkle. A large crowd from High Point attended. Mrs Everhart died Thursday at her daughter Mrs S J Sowers home at 700 Grimes Street.
Mary Francis, six sisters and one brother survive, daughter of Mr and Mrs J L Jones of 827 Putnam Avenue. She died after a short illness near ten o clock. Funeral held at 4 pm from home with Rev Herman Stevins of Green Street Baptist Church officiating. Burial in Spring Hill Cemetery.
The Great Wall of China stood as the era’s largest single military fortification, spanning vast spans of terrain and serving as a monumental defense line across northern territories. Its construction involved multiple dynasties and thousands of workers.
Weather reports across Texas forecast showers and cooler conditions with Abilene receiving varied rainfall. Cotton futures closed mixed with May, July, and later contracts edging up and down as Liverpool and Egyptian markets influence prices. US imports and shipping levels remained high while demand showed signs of steady activity in a cautious market.
Traders express cautious optimism about cotton prices. Pynchon and Wade Bros favor buying on declines while Orvis and Keech warn of rises unless weather worsens. Hubbard Bros urges focus on strong bullish factors over short term weather swings.
Chicago reports a near 20 cent drop in wheat in two weeks with local pros backing breaks. Bear traders grow uneasy as weather uncertainty looms while corn planting, 50 to 90 percent finished in many belts, prompts bearish sentiment. Bulls defend prices with small rallies as analysts foresee a two sided corn move and eventual grain movement from farmers.
The new stock exchange and the New York curb market were closed today for the fourth Saturday this year to let brokerage houses catch up with the large backlog from several days of heavy trading. Offices stayed open to handle receipts and deliveries of securities sold earlier in the week.
The cotton market opened steady with declines of 5 to 14 points yielding net losses of 26 to 30 points as recent buyers and local and southern sellers react to rains in the southwest. May slipped to 21.32 and October to 21.02 before weekend covering and modest trade buying steadied prices, with Liverpool markets slightly lower than expected.
Cotton spot in light demand with higher prices. American grades show strict good middling 12.24 and good middling 11.74. Total sales 3,090 bales, receipts 11,000 all American. Futures closed quiet with May 11.29 and distant months around 11.04.
The New Orleans cotton market fell in early trading as Liverpool cables weakened and moisture feared in the western belt spurred buying. First trades showed losses of 13 to 18 points, July at 20.80, October 20.60, December 20.56, with a later slight recovery and a closing net decline of 25 to 32 points.
Chicago grain traders reacted to a government May crop revision showing higher 1928 winter wheat output, lifting forecasts to 486 million bushels from 479 million. Late selling outweighed early buying spurred by spring wheat belt dryness, with limits on corn and oats and provisions unchanged to slightly lower.
In New Orleans on May 12, spot cotton closed quiet, down 30 points. Sales reached 642 bales, with prices for low middling 20.18 cents, middling 20.93, good middling 21.00, and middling 21.33 cents. Receipts were 4,243 and stock stood at 341,423 bales.
Wheat No 2 hard 1.53 1/2, No 3 hard 1.52 1/2, corn No 2 mixed 1.07, No 2 yellow 1.00, oats No 2 white 70 72 percent, No 3 white 66 70, rye not quoted. Barley 96 1.11, miscellaneous seed 4.00 4.75, cloverseed 19.25 26.25.
Cottonseed oil closed barely steady in New Orleans with a record of futures showing May 10.00 June 10.03 July 10.08 August 10.20 Sept 10.25 Oct 10.28 and Nov Dec 10.35 as of May 10. Readings reflect firm summer demand and tight supply.
Cottonseed oil closed steady in New York trading on May 12 with prices for prime summer yellow at 1050 to 1075 and prime crude 887 to 925. The month and year ahead prices ranged from 1050 for May to 1083 for September with total sales of 3,700 units.
May 12 naval stores report shows turpentine firm sales 206 and receipts 275 with stock 12 245 while rosin firm records sales 608 receipts 914 shipments 3 558 and stock 67 213 Readings include price quotes B 640 D 665 E 710 F 726 G 735 H 7385 1 740 E 745 N 820 WG 875 90 WW 25 A 925.
New York dairy market data shows butter firm at 4,320 and creamery prices rising beyond extras with 46 46 percent scores. eggs collected at 23 099 with fresh gathered at 29 30 percent. cheese remains steady at 156 403.
Potatoes on track show 890 cars sold in U S shipments 122 cars today with demand slow and market slightly weaker. Wisconsin supplied sack round whites 1.30 to 1.50, Minnesota 1.10 to 1.40, Idaho russets 1.30 to 1.50. New stock light, Texas Triumphs 3.25 to 3.50, Louisiana Triumphs 3.50 to 3.60.
Raw sugar stayed quiet with prices unchanged. Only sale reported involved about 25 000 bags of Cuban to an outport refiner for June shipment at 4.52 delivered. Bid levels near this price likely accepted on nearby duty frees amid minimal spot turnover and a softer undertone on futures. May closed 2.60, July 2.71, September 2.82, December 2.90, January 2.82, March 2.78. Refined sugar remained at 5.95 to 6.00 for fine granulated.
Hogs 4 000 head market steady to 10 cents lower with top 18.00 for good 180-240 lb hogs. butchers 50 lb cattle 9.35-10.05. packing sows 8.50-9.25. pigs 6.50-8.50. Cattle supply down from last week. fats 12.25-14.25. vealers steady. Sheep 11 000 head with late trade draggy. fat lambs 15-16.99. week’s top prices include fed clipped lambs 16.99 and weeled lambs 18.00.
Foreign exchanges in New York on May 12 showed mixed quotations in cents with Britain at 478 13-16 for demand and 488 3-16 on cables. Major European and other currencies including France Italy Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Greece Poland Czecho Slovakia Yugoslavia Austria Romania Argentina Brazil Tokyo Shanghai and Montreal were listed with varied demand and cable figures.
Geneva May 12 The League of Nations informs Washington that a vacancy exists in the World Court of International Justice due to John Bassett Moore's resignation. Nominations for Moore's successor will be eligible from the American group of the old Hague arbitration court.
Washington observers report conferees from the senate and house reached agreement on the final form of the McNary Haugen farm relief bill. The accord follows weeks of debate over price supports and crop measures.
Telegrams from west Texas report rainfall ranging from half an inch to six inches in the last 24 hours. The market opened weak as rains soften demand and earlier trade calls of cotton faced taking sales. Manchester notes limited cloth business despite the Texas showers.
Fall River records indicate weekly print cloth sales at about 30 6000 pieces, a moderate figure for the period.
Advices from Jackson Mississippi indicate only about 25 percent of the cotton acreage is up while 75 percent planted and replanted since recent rains faces slow germination. Most stands are poor and will not improve until rainfall resumes.
In Raleigh on May 12 incorporations were filed for Carroll Motor Sales Company of Greensboro to deal in motor cars with authorized capital 100000 and subscribed 300. Pointer Realty Company of High Point to do a general real estate business with authorized 100000 and subscribed 400. Old Homestead Fishing Club of Charlotte to own and operate a fishing club with 80 shares no par value subscribed by W H Zimmerman C R Smith and W L Bruns.
The 38th annual United Confederate Veterans reunion closed with a six mile grand parade in Charlotte drawing about 60 000 spectators. Major John M Crowley of the 20th Mississippi infantry marched afoot with the Stars and Bars as the Marine Band led the procession the veterans rode in automobiles and amid ideal four day weather.
Lead is widely used in glazing pottery and porcelain, providing glassy coatings. It helps achieve smooth, durable surfaces and vibrant finishes, though health concerns drive strict limits and alternative materials in many regions.
The map indicates good rains in west Texas while the rest of the belt remains dry across other sections.
Captain T. Dinsmore Upton, famed as Big Brother to a hundred thousand kids, visits for Redpath Week. He advocates real recreation and character building, citing playgrounds and community centers across two nations as proof of his methods. His talk titled NRe-Creation Through Recreation promises lively, inspiring delivery.
The Japanese China squadron flagship Tone reached Shanghai today from Nanking along with eight destroyers from Sasebo base.
Shanghai dispatches report Japan strengthening in Shantung with Notoro tender at Tsingtao and 28 000 Japanese troops in the region plus 5 360 horses shipped. In Tientsin Feng Yu-Hsiang forces press southward toward Peking with advances near Machang and Tehchow as talks about league involvement falter.
In Tokyo Premier Tanaka says immediate danger near Tsinan is past and that diplomatic means will settle the affair. In Kansas City the Methodist Episcopal general conference considers accusations against Bishop Edgar Blake of Copenhagen and Bishop Anton Bast, with Bishops Blake and Nuelson defending Bast. The conference later clears Bishop Francis J. McConnell of Pittsburgh of charges of mal administration.
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