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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Aug 29, 1932
Page
8
The cotton market surged with October to 9.43 and December to 9.61 in New Orleans trading. Prices climbed on weekend buying, storms fears, and strong exports before slipping from midday highs as profit-taking and a private crop estimate sparked a retreat. The same authority later pegged the crop at 11,306,000 bales after government data.
New York and Chicago trading fronts report mixed results with stocks irregular near 1932 highs for radio and copper and rails weakness. Curb stocks and some utilities edge higher while Danish kroner declines. Cotton and coffee rise on favorable crop news and Brazilian buying. Wheat firm with a sharp rally in Liverpool. corn firm on bullish crop expectations. hogs and cattle softer.
In Chicago grain trading Wheat showed initial steady to higher moves before easing. Wheat finished near the day’s top higher by 11-8 to 15-8 cents from Saturday, corn up 1 to 17-8, oats up 5-8 to 1, and provisions mixed from 2 cents lower to 5 cents higher.
New York August 29 Market opened sharply higher on heavy buying from trade and speculators. Profit taking hedge selling cooled gains with prices slipping from early highs. Final quotes near session lows while domestic and foreign spinners bought heavily and demand remained strong for grey goods.
New York and August buying continued the rally with a 1.50 per bale advance amid heavy selling absorbed. December futures climbed to 9.66 while July delivery touched the 10 cent level, yet close near steady with spot middling at 9.20.
Avocado pears rise with Cuban crates at 1.85 to 1.90 while Utah Elberta peaches open at 2.50 per bushel. Pineapples hold at 1.75 with Texas cantaloupes around 2.00 per 36 to 45 melons. Georgia Dixie Belle watermelons go 18 to 20 dollars per 18 to 20 pound average.
Chicago August 29 live poultry market report lists hens at 15 cents a pound for white leg horn hens at 10, colored fryers 12 1 2, stockers 14, colored and tock springs 13 to 15, roosters 11, turkeys 10 to 12, spring ducks 10 to 12 1 2, old stock 10 to 11, geese 11, leg horn broilers 12.
New York stocks closed irregularly after a day of profit taking and modest gains. Copper and utility shares led morning strength with notable advances in American Smelting, Greene Cananea, Kennecott, Anaconda, Westinghouse, General Electric and others, while some leaders lagged and volume rose to about 3.8 million shares.
In Chicago on August 29 USDA data show total U S shipments 246 for Sunday 25 for Sunday and 137 for Saturday. Wisconsin round whites sold 65-70 for small to medium and 60 for medium. Minnesota Irish cobblers listed at 170 Hollandale early Ohios 55-62 1-2, Iowa cobblers few sales 70, Nebraska mostly 70, Idaho russets 1.50.
New Orleans August 29 report shows prime summer yellow oil at 4.80 to 4.90 with crude at 3.87 to 4.00. Futures list Sept 4.89 Oct 4.95 Nov 4.95 Dec 5.00 Jan 5.05 and Mar 5.15.
Call money held at 2 percent for the day with time loans steady for 60 to 90 days at 1 1-4 to 1 1-2 percent and 4 to 6 months at 1 1-4 to 1 1-2 percent. Prime commercial paper remains at 2 with bankers' acceptances unchanged across 30 to 60 90 days and longer tenors from 1 7-8 to 1 1-4 percent.
Sugar futures closed irregular with the market near steady to up three points at 2 p m. Trades totaled 13 600 tons with September at 110 M1 October 1 11 December 1 15 16 January 1 12 13 March 111 12 May 1 15 and July 1 19 20.
The article notes Cordozo delaying his stance as nominees appear on the November ballot. A large bloc of Democrats and Republicans seek positions for at large congress via petition after contested primaries. The state Democratic executive committee meets in Jackson to certify results amid counties not participating in some races.
USDA cattle hogs and sheep figures show mixed movement in Chicago. Hogs 40,000 head with direct 16,000. prices mostly 15 to 25 cents lower. top 4.70 for 230 to 300 pounds. Cattle 18,000. slaughter steers 7.50 to 9.50 for heavy weights. vealers steady. lambs stronger in spots. city butchers report lighter lamb demand. Prices given for assorted weights and stockers.
Juliette Compton, rising from Georgia to Hollywood, headlines at the Paramount with Devil and the Deep, sharing the screen with Tallulah Bankhead and Gary Cooper. Capitol previews Downstairs John Gilbert’s moral chauffeur tale stars Gilbert, Lukas, Hedda Hopper, Owen, and Badanova. Strand West Monroe showcases This Is the Night with Lily Damita and Cary Grant leading a lively romantic comedy cast.
Sam McClary of the chamber of commerce said a Fremont Nebraska to Pine Bluff Arkansas highway is a single continuous paved road. His son traveled the route by auto from Monroe to Fremont about 1000 miles, noting cement highways extend to Monroe. The return trip shortened by 50 miles with similar paved roads overall.
The Aug report shows irregular rates for Great Britain in dollars and cents, France, Italy, Belgium, Germany, Holland, and others with demands and cables. It includes Japan, Shanghai, Montreal, Mexico City, and various country figures with nominal values.
Liverpool reports 4 000 bales from cotton pending American sales none. Spot business moderate with 22 point rise. Quotations list American grades from strict good middling 7.93 to good ordinary 6.28. Futures steady with Oct 6.86 and May 6.96 to July 7.00.
McQuiller demonstrated three new salad dressings while Monroe public librarian Mrs. Lillian Herron Williamson gave two talks on books and libraries. Fred Williamson News-Star-World editor spoke on What Women Have Done to End the Low Mood. A Thursday roll contest between teams led by Mrs. J. B. Landreaux and Mrs. Ray Sisson produced 360 rolls in 25 minutes, served for supper.
Elizabeth Ticheli age six died this morning after a brief illness. She was the daughter of Mr. and Mrs. Ticheli who survive along with brothers Frank Philip and Mike and sisters Mrs. J Danna Mrs J Russo Mrs C Domino Josephine Dollie and Mona Ticheli. Funeral is set for Tuesday morning with time undecided. Interment will be in the Catholic cemetery.
Julius J. Terry, 55, died in a local hospital after a brief illness. A native of South Louisiana and Tu lane University graduate, he once farmed strawberries in Hammond and later lived in Monroe selling his patented indestructible automobile tire tube. He leaves a widow and siblings in New Orleans, including brother Dr J. Terry and sister Mrs. M. A. Terry. Body to be interred in New Orleans.
Butter remains steady with creamery specials at 20 to 20 1 2 and extras to 19 1 2. Firsts run 17 to 19, seconds 15 to 16. Eggs at 12 545 steady with extra firsts carlots 18 1 2 and current receipts 13 to 15 1 2.
National Red Cross lines Florida chapters to monitor the tropical disturbance as warnings extend from Jupiter to Key West. Early readings show a 17 mph northeast wind locally and 29.85 in barometer. Nassau reports 30 mph easterlies and 29.82 in.
The Edenborn No. 2 test of Nacatosh Petroleum near Natchitoches is restarted after historic drilling halted in 1926. Local leaders Sam Collins Anthony Gibbon J B Thornhill and W C Feazell guide the effort now drilling at 425 feet through rock formation.
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