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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Aug 06, 1930
Page
8
Cotton prices rose in early trading on a favorable weekly weather and crop outlook before easing after a mid session rain report. October and December futures gained 27 to 29 points from the lows, with the day closing steady and spots at 12.60 up 11. The market expected a government crop figure around 14,035,000 bales with exports at 6475 for the day.
Opening declines gave way to cover and rebuys influenced by bullish weekly weather data and grain strength. Prices firmed late, with October and December futures up amid light trading, middling at 12.95 and spots steady at 12.95.
Cotton futures rose about a dollar a bale at times despite heavy rainfall in western growing areas. Traders fear government and private crop estimates may drop, prompting covering ahead of Friday releases. Showers mainly in Texas and western Louisiana, with mostly dry conditions elsewhere.
Chicago market report shows hogs 15 000 head with 4 500 direct, light to heavy weights. cattle 11 000 with calves 2 000. hogs 9.65 to 9.95 for light, 9.35 to 9.55 for medium, 8.00 to 9.50 for heavy. cattle slaughter steers 9.00 to 11.00, calves 8.50 to 10.75, cows 6.50 to 10.50. lambs 2.26 to 4.00 for good and choice.
Chicago August 6 poultry prices listed for alive and ears with 25 trucks. Fowls and springs range 21 to 27 cents, broilers 22 cents, roosters around 1 dollar per dozen, chicos 16 to 18 cents, spring ducks 14 to 17 cents, a spring goose 15 cents.
The Aug. 6 stock market crowd faced a sluggish session with leading shares down 2 to 4 points amid meager volume. Freight car loadings for the fourth July week fell to the lowest in eight years, while July building contracts east of the Rockies dropped 44 percent from 1929. Park and Tilford tumbled nearly five points as overall sentiment stayed dour despite pockets of buying on recessions.
AP reports stocks weak as professional selling weighs on pivotal shares while bonds firm and high grade issues hold. Curb steady with small price changes in a bull market. foreign exchanges irregular with European demand. Cotton steady amid unfavorable weekly weather. sugar and coffee steady on buying. Chicago wheat strong on bullish weather and foreign buying. corn firm on weather and Iowa Illinois advisories.
Chicago August 6 big buying lifted prices for wheat and corn with corn hitting a new season high. Opening gains of 1 8 1 8 cents and wheat rising over 3 1 2 cents from last night, corn began at 1 8 11 8 cents and moved irregularly through early trading.
A condensed list shows closing prices for major American and international equities such as American Can, American Car & Foundry, Armour, Atlantic Coast Line, Bethlehem Steel, Canadian Pacific, Coca Cola, Du Pont, General Electric, General Motors, IBM, Kennicott, Packard, Pan Am, Penn, Phillips Petroleum, Pullman, Radio Corp of America, Reynolds, Sears Roebuck, Shell, Southern Railway, and more. Prices are given in a scattered format with some entries followed by fractional or irregular marks. The compiled snapshot reflects varied sectors including transportation, steel, oil, chemicals, and consumer goods, indicating a broad market close snapshot.
Liverpool reports better demand for cotton spot yet prices drop with American grades leading the decline. Sales reach 4 000 bales while receipts total 8 000, futures close steady and price quotes for several months show mixed gains and declines.
AP prose market briefing shows heavy butter beans and weak demand with prices around 1.00 per bushel. Beans, carrots, beets, okra, peppers, tomatoes, watermelons, cantaloupe, potatoes, onions, cabbage, lettuce, celery, and other produce detailed with regional and crate or bushel pricing. Louisiana shipped cars of mixed melons and sweet potatoes Tuesday.
New York August 6 foreign exchanges were irregular with Great Britain quoted in dollars and other nations in cents. Requested rates include Great Britain 4.87 1 16, France 3.93 5 16, Italy 5.23 9 16, Belgium 13.99 1 2, Germany 23.89, Norway 2681, Spain 11.12, Greece 1.29 8 8, Brazil 10.30, Tokyo 49.87, Shanghai 37.50, and Montreal 100.141 16 1.
Potatoes 16 on track 1196 show slight strength as trade improves in Kansas and Missouri markets. Irish cobblers priced 1.60 to 1.76 per sack with overall activity cautious but steady across the Chicago market.
A New Orleans dispatch notes Monroe mayor Arnold Bernstein being floated as a possible Louisiana governor candidate. Bernstein says he has heard nothing and has made no commitment while others like Dudley LeBlanc announce their candidacy. The mayor would likely have strong local support if pursued.
A fire at 4 50 a m damaged a house owned by David M Williams a blind Negro peanut peddler and caused about 50 dollars in losses. Firemen extinguished the blaze with a hose line and investigators blamed carelessness with a waste paper basket as the cause. Four baby squirrels whose mother was killed by an automobile are being cared for by Fred Graham after a boy rescued them from a chimney.
New Orleans seed oil futures closed firm with prime summer at 7.50 and prime crude at 6.21-2-6.75. The calendar shows January through December bids ranging from 7.60 to 7.65, with August at 7.50.
The Monroe registrar reports 5414 residents registered for the upcoming primary election with over 200 new registrations daily. Ward tallies show three large wards leading and projections suggest 6454 if 260 daily registrations continue, possibly reaching 7000 by August 9.
Julius Lemle Co bought the first bale of cotton raised in this parish at 23 cents a pound at an auction sale held at 2 30 this afternoon at the Central Savings Bank and Trust. Harry Prophit was auctioneer. The bale weighed 570 pounds and was raised in ward 7 by E J White. It was planted July 31 five days earlier than the previous record. Many attended the bank lobby as bidding started at 14 cents and quickly rose.
Call money in New York remains steady with a high and low of 2 1 2 percent and a ruling rate at 2 1 2. Time loans show slight firmness with 30 days at 2 2 1 4, 60 days 2 1 4, 90 days 2 1 4 2 8 4, and 4 to 5 months around 3 3 1 4. Prime commercial paper stands at 3 3 1 4 and bankers acceptances are unchanged.
Chicago market report lists batter steady at 6 118 steady with varied subcategories and eggs at 1 406 firm. Notable figures include extra firsts around 35 1 2 to 36 with creamery extras near 36 1 2, and eggs showing 74 1 2 25 for extra firsts and fresh graded firsts at 24 plus current receipts at 20 1 2.
A bankbook found in the Lingle murder scene and photographs of suspects are key clues. Joseph Jeck, questioned by police, says the bankbook was torn from Alfred Lingle as he was shot. The same gangsters are suspected in the Zuta killing in Wisconsin where seven men were involved. Sophie Oninski could identify several suspects. Police link the two murders, noting the leader talked to police.
The umbrella shed formerly at the old Illinois Central station has been removed and re erected in front of the West Monroe passenger station. It is painted orange and provides shelter from sun and rain.
In Belleville, Ontario, a plane ditched on Lake Ontario with passenger Terry McGovern clinging to the wing and pilot Gerry Fitton attempting to swim ashore. McGovern survived and boatmen rescued him. Fitton died in the attempt. The crash occurred about a mile off shore after the engine separated from the plane.
Los Angeles reports that seven years of marriage between actor and film director James Kirkwood and actress Lila Lee ended in divorce. Kirkwood won custody of their six year old son James Jr after a court contract denied the mother care or schooling rights. The couple wed July 26, 1923 and separated July 15, 1928.
Ted Lundgren, missing on a flight from Amarillo Texas to New York, landed at Akron last night officials said. He was to resume the journey to Roosevelt Field New York to attempt to lower the Graf Zeppelin globe circling record accompanied by W L Ziler and B Emerson of the E M Smith company who build the EMSCO plane.
Charles W. Ostenton aged 65 longtime Democratic national committeeman and state leader died at his Kanawah Falls home from injuries after falling 30 feet from a cliff yesterday. Family suspects a stumble near a water spring led to the accident.
S B Harvell, 40, a timber cutter for Southern Advance Bag and Paper Co. of Hodge, was instantly killed near Friendship when a large tree toppled as workers finished cutting pulp wood. Harvell walked into the tree’s path and died immediately, despite colleagues freeing him from the wreckage.
The $50 million federal aid highways increase approved by Congress raised total federal aid to $125 million and created 4,000 more construction jobs in April and 4,800 in May with 1,300 in June. The report notes additional employment in material preparation and transport beyond contractor crews.
A two story brick building housing Haydel Mercantile company in Crowley was gutted by a fire of unknown origin. The blaze started on the second floor, went undiscovered for a time, and sprawled for five hours before the fire department halted it. Approximately $1,000 in merchandise was lost, with partial insurance coverage.
Paris Aug 6 Foreign Minister Briand received replies from all 26 countries on forming an economic union of European states. He prepared several tentative drafts of his report and last night added Switzerland’s response, the final reply to arrive.
Sevierville Tennessee, August 6 United Press reports Les Spurgeon age 24 died from injuries after a truck collision near Sevierville last night. Five others sustained minor injuries in the crash.
About 200000 Democrats in Tennessee plan to vote in tomorrow's biennial primary. They will choose nominees for governor and two US Senate seats, while Republicans vote only for governor. Candidates include Horton, Gwinn, Bedson, Hall, Todd, Brock and Tyson with Neal facing Neal in the short-term Senate race.
W G Bierd receiver for the Chicago and Alton railroad denied a Bloomingon dispatch that Baltimore and Ohio obtained control of the Alton lines by purchasing a majority of the Alton bonds. He said Jerome J Hanover of Kahn Loeb handles negotiations for bonds that would give B and O control if acquired.
In Wallace Idaho on August 6 two women with jailed husbands for violating federal prohibition law were nominated in primary results. Mrs. R. E. Weinger won the democratic race to succeed her imprisoned husband as county official. Mrs. W. H. Herrick secured the republican nomination for county assessor with a large plurality. Herrick had served as mayor of Vaneers and was sentenced to Island penitentiary for conspiring to permit liquor sales and taking fees from bootleggers used for municipal purposes.
Major G. H. Scott told reporters in Toronto that the airship R-100 may depart for England next week as part of its return voyage after arrival for a civic reception in Canada.
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