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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Nov 25, 1930
Page
13
Cotton opened steady with a net 2 point decline to a 3 point rise as December liquidation grew from notices. Prices moved within a narrow range, with December around 10.72 rising to 10.75, and new December contracts reaching 10.79 while May hit 11.44 as Liverpool cables noted steady demand and quiet trading overall.
Cotton in New Orleans shows a subdued start as London cables beat expectations but initial trades stay flat to higher. December touches 10.87 and January 10.98 on firmer notes, with December notices about 4,500 bales halted quickly amid shorts covering. Market ends steady near intra day highs with a 4 to 6 point daily decline.
Leaders of organized farmers testified before the senate agriculture committee backing the farm board efforts to stabilize surplus product prices and supporting federal regulation of grain exchanges as proposed.
Stocks edged back to post-recovery highs as several firms declared special or extra dividends. Gains appeared in U S Steel Republic Steel Byers American Telephone Consolidated Gas Union Pacific New York Central Goodyear and J C Penney with some 3 to 5 point climbs including American Locomotive Lima Locomotive Allied Chemical Atchison IBM. Banking news soothed sentiment with Southern banks reopening and reports of stabilizing crises.
Chicago November 25 Wheat prices fell after a government report showed the world visible supply enlarged by 7 873 000 bushels, reversing last year’s 3 883 000 bushel drop. Scattered selling pushed values to the day’s bottom as the market averaged lower overall.
Funeral services for two year old Billy Farrell son of Mr and Mrs W B Farrell were held at Fairfield M P Church with Rev E O Peeler and Rev E W Jones officiating. Interment was in the church cemetery. Pallbearers were Roy Johnson D C Marsh Clay Gilbreath and J C Gilbreath. Flowers were carried by several local women. The choir sang multiple hymns including In the Sweet By and By Safe in The Arms of Jesus and When He Cometh to Make Up His Jewels.
Paris reports the death of General Emile Berdoulat aged 69. He served as military governor of Paris from 1919 to 1923 and died in Paris today.
Dairy prices on November 25 show butter at 9,551 and weak creamery extras 31, with standard 281 and various Firsts, seconds, and extras. Eggs at 2,303 steady with extra firsts 39 40 and fresh graded firsts 35 36, plus current receipts and refrigerator items in the 20s to 90s range.
The list shows New York stocks and leaders across industries including Hudson Motors Hupp Motors Pan Am Petroleum Reynolds Tobacco Studebaker United Fruit Western Union Armour Reed Chemetals and others. Notable names include Goodyear Packard U S Steel Texaco and General Electric amid a broad market rally and declines.
Mrs. F B Funk of Miami paid 15 01 to weigh and have her fortune told at a penny scale in Greenwood. She left her purse with jewels valued at 30000 and forgot it. An eyewitness saw two negroes flee with the purse, one man identified, he returned 10 and the accomplice’s name. Mr Funk gave 5 to the men and witness to help recover the loot.
The Free State ministry of education reports that enforcing Irish in public schools hampers learning and strains the rising generation. Outside Irish-speaking districts progress in Irish as a medium of instruction is slow, blamed on only about a quarter of teachers being fully competent. English teaching is described as strong.
London dispatch says the Soviet embassy in London issued a statement denying reports of grave disorders in Moscow. The embassy rejected claims of unrest and asserted normal conditions prevail in the Soviet capital.
A plan outlines creating a network of airlines over Panama to connect regional routes. Authorities and aviation interests seek coordinated service, improved access, and logistical efficiency across major hubs and remote provinces.
Washington reports lawmakers weighing full payment of adjusted compensation certificates for veterans. House veterans committee chair Johnson sees merits on both sides as Patman and others push for action. Estimates place full payment at 3 billion dollars or 2 billion for 80 percent, with a 25 percent cash alternative suggested. Treasury holds 700 million for retiring roughly 3.6 million certificates tied to 1945 policy loans.
The North Carolina special prison commission presented its report to Gov. O Max Gardner amid expectations of major reforms. The panel, after studying penal conditions in several states, is believed to recommend a new prison and likely relocation from the current central site, which Gardner has called a fire trap.
Cotton in Liverpool shows small business with barely steady prices. American grades range from strict low middling 5.69 to middling 5.94 with sales of 4000 bales and receipts of 22,000. Futures close steady with December 6.72 and May 6.04.
SUFFOLK VA Nov 25. If contracts can be obtained to control 300000 bags of peanuts a North Carolina Virginia peanut cooperative may be reorganized here. Charles S Wilson federal farm board representative told 19 county growers that this number is needed to obtain federal aid and urged meetings with other growers and banks to judge feasibility.
The Utopian Study Club will meet tomorrow afternoon at 3 30 o clock with Mrs Roy Spearman at her home on Wiltshire boulevard.
Annual oats production ranges from 2.5 to 3.0 million acres when seeding occurs in fall across southern regions. The data reflect regional farming patterns and seasonal planting choices.
Norman news reports a freshman at the University of Oklahoma saying he was dragged from his room and beaten ten times by hooded men bearing D. D. M. C. insignia. The incident prompts university officials to review the campus club’s activities amid long standing denunciations.
Three Arkansas banks, suspended last week, reported to the state banking department that they have reopened for business. With these, 10 of 70 banks in the state that closed or suspended within a week have resumed operations. The Bank of Ozan in Ozan, the Bank of McNeil in McNeil, and the Bank of Stamps in Stamps reopened today. six reopened yesterday and one last week. The department said several others could reopen within a day or two.
Raleigh November 25 John Mitchell chief state bank examiner returned from western North Carolina where more than a dozen banks closed last week and expressed optimism about the situation Conditions are improving and the hysteria and fear are abating Residents of the section are bending every effort to alleviate the present situation He believed a sounder and more conservative system of banking will be evolved.
A London utility outlines a project to lay 66,000-volt cables with an estimated cost of 1.25 million dollars. The plan targets upgrading transmission infrastructure and reliability for the city's electrical grid.
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