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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Aug 22, 1929
Page
10
New Orleans August 22. Cotton prices edged higher on moderate buying amid dry western weather and favorable Liverpool cables. October and December climbed to about 18.45 and 18.72 while late-session pressure limited gains. Exports reached 4,589 bales as the market ended steady with small advances.
The stock market advanced sharply led by high grade rails and public utilities as earnings reviews and lower call money boosted sentiment. Major gains occurred in Dupont, Westinghouse Electric, General Electric, and Westinghouse Electric, with new highs in several issues before profits were taken ahead of brokers loan data.
New York reports firm Liverpool cables and weather worries in the southwest influencing liquidation by recent buyers. The market closed steady with advances of 14 to 18 points. futures up 14 to 18 points, spot quiet, middling at 18.68.
New Orleans August 22 A fair sized cotton covering movement formed as the northwest failed to rain and the market jumped nearly a dollar a bale at times. High northwest temperatures and recurring adverse crop reports from Texas plus good cables aided hedging. Delta reports warned of deterioration while interior belt remained dry except Birmingham and the far southeast. Census bureau to report cotton ginned to August 14 tomorrow. Ginnings in 1927 stood at 445 000. Storm in the Caribbean unlikely to affect cotton states materially.
Associated Press reports New Orleans on August 22 with cotton seed oil closing steady. Prime summer yellow priced at 815 and prime crude at 740. Futures or month quotes include January 845 February 852 March 845 August 825 September 83% October 8380 November 835 and December 40.
Government bonds in New York on August 22 show Liberty 81-25 at 97.8 and 1st 41-48 at 97.26 while 4th 41-45 stands at 98.39 and Treasury 4 1-4s at 106.20. Market notes mention ongoing bond activity and pricing.
Call money in New York Aug 22 was easy with high 7 and low 6, ruling at 7 and close 6. Time loans stayed steady with 30 days and 3 4 9 and 60 90 days 8 3 4 9. Prime commercial paper quoted 6 6 1 4. Bankers acceptances unchanged.
New York stocks show strength with Westinghouse Electric rising to a new high. Bonds buoyant as convertibles rally. Curb market uneven with Cities Service hitting 50. Foreign exchanges irregular, sterling steady. marks and lire mix. Commodities: Cotton steady, sugar higher with firmer spot, coffee up on Brazilian support. Chicago wheat steady on bullish weather forecast, corn steady amid dry Nebraska. cattle irregular, hogs steady to higher.
Chicago wheat opened 3-4 cents to 21 8 cents down, later rebounding to near yesterday's close as Liver pool quotes softened. Corn and oats stayed firm with corn off 1-8 to 13-8, later turning higher, oats down 1-4 to 32, provisions fluctuating up to 20 cents.
Amos Smelser reports his Chevrolet coupe at 500 Pine Street was stolen from 313 Harrison Street between 11 30 a m and 12 15 p m according to a police department report filed this afternoon.
The annual Louisiana Legion and Legion Auxiliary conventions began in Lafayette with a joint session at Southwestern Louisiana Institute auditorium. Legion members met at the courthouse and Auxiliary at the institute training school. Reports and addresses dominated the day. A parade and barbecue were featured, with dances planned for tonight and Saturday. Elections for Legion and Auxiliary officers are set for Saturday.
Liverpool notes fair demand for cotton with prices easing across grades. American sales reach 4,200 of 8,000 bales. receipts total 6,000 with 1,600 American. Futures finish steady with October at 9.88 and July at 4.96.
Poultry alive easy receipts consisted of 2 cars with fowls priced 28 to 28. Broilers 25, roosters 21, turkeys 20 to 30, ducks 18 to 21, spring geese 19.
Raw sugar held steady in New York with refiners showing interest at 177 per jevel and a reported sale of about 5000 bags of Porto Rican sugar due in September at the quoted price. Futures traded quietly then firmed 1 to 2 points, with most activity covering September positions before first notice day next Tuesday. Refined sugar stayed at 50 for fine granulated and total July 2019 sales reached around 47,100 tons across several contract months.
New York reports irregular foreign exchange rates with Great Britain at 4.84 dollars and various cents, France at 3.93 3-16, Italy 5.22 7-8, medium 13.88 1-2, Germany 23.78, Norway 26.41, Greece 1.29 1-4, Brazil 1985, Tokyo 46.40, Shanghai 58.15, Montreal 99.46 7-8.
In Chicago a weary bandit enters a diner with two revolvers and orders 35 patrons to line up. He sits to rest, dozes off, dropping his pistols as police arrive and arrest him. He later reveals his name Chester Kopiski and asks to return in the morning.
Ground breaking reveals a neighborhood theater planned with four adjacent brick stores of 20 by 50 feet each to the south. Stores will include a drug store barbershop and a pick up station of a cleaning and pressing firm. The project signals Monroe’s shift toward a developing suburban business district.
Laurel defeated Vicksburg 5 to 3 in 11 innings after a late rally tied the game at 3 in the ninth. Norris, Dorley and Lundell led the offense as Dorley drove in three runs and Stafford pitched 8 1 3 innings for Laurel with Berry taking the loss.
Gadsden Alabama August 22 Fred Harper manager of the Tenn Plumbing and Electric company shop here which was destroyed by a mysterious blast early today had not been located several hours later His wife said he left home during the night and failed to return She feared foul play and urged a search of the ruins The company had labor trouble before joining a union two weeks ago.
An alarm was turned in for a grass fire at the rear of 2900 De Siard Street at 12 15 pm today answered by stations 1 and 2. The fire started from burning cross ties on the railroad with no damage reported.
Mr Villanti, a backer of Monroe’s south end, plans a commercial theatre with exclusive white patronage. He may run it or lease to a suitable tenant, investing heavily in the area. Frame buildings were moved to clear the site.
A woman was gored to the rear platform and onto the neutral ground where she was found, not seriously injured. Federal authorities began investigating two dynamite thefts from separate locations in the past two days, one robbery staged at another site.
James Brooks, night watchman at the O'Brien Construction plant, said three men parked nearby, overpowered him, and took dynamite. A second plant in Kenner was also involved in the incident, but no suspects or identities were found for the bandits.
Three men charged with inciting the city hall riot ten days ago will face trial in criminal court August 27. The second arraignment set the date. Defendants are John T. Banville Paul Bordlee and Walter Edwards.
Livestock receipts: hogs 18 006, slower but mostly 10 to 15 cents higher with top 11.80. Butchers 250-300 lbs 10.00 to 10.95. 120-180 lbs 10.35 to 11.50. Cattle receipts 6 500, calves 2 000, slight gains in most killing classes. Slaughter steers 1300-1500 lbs 12.75 to 18.85. 950-1100 lbs 12.75 to 17.00. fed yearlings 760-950 lbs 12.75 to 16.50. Walers 15.00 to 17.50. Sheep receipts 20 000, slow to 25 cents lower. native lambs 13.00 to 12.40, top 13.75. rangers 13.50. lambs 92 lbs down 13.06 to 13.85.
Butter steady with receipts of 6,569 tubs and creamery extras 41 1 2. Eggs unsettled with receipts of 8,055 cases and prices unchanged.
Chicago notes potato receipts 77 cars on track 210 cars, total U S shipments 702 cars. Wisconsin sacked round whites 2.25 to 2.50 and Triumphs 2.05 to 2.25. Minnesota sacked Sand Ohio's 1.85 to 2.00.
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