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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 07, 1938
Page
9
In New Orleans on December 1 the cotton market saw limited trading due to the crop report ahead. Prices for December to October contracts edged up one to three points as brisk short covering and late trade buying supported values. exports reached 25,458 bales and the session closed steady.
Cotton futures in New York slid early on trade and foreign selling before hedging reduced losses. March fell from 8.27 to 8.23, then recovered to 8.25, leaving the market 1 point higher to 2 lower overall.
Liverpool reports 4 000 bales of cotton sold with no American demand, spot prices up 6 points. Quoted American grades advance with strict good middling at 5.69 and low middling 4.24. Futures settle 4 to 6 points higher with December at 4.66 and October 4.45.
In New Orleans on December 7, cottonseed oil closed steady with bleachable prime summer yellow at 7.25N and prime crude at 6.12 to 6.25. December 6.98B, January 7.05B, March 7.11B, May 7.25B, and July 7.33B bids.
Chicago livestock prices rose after a sharp dip. hogs gained 15 to 20 cents with top at 7.55. Cattle advances ranged up to 40 cents for heavy steers and yearlings, with good and choice grades up about 25 cents. Fat lambs held above 9.40 while overall market steadied. Total hogs 16,000, cattle 6,000, calves 1,200, lambs 10,000 with direct sales included.
Butter at 419 908 steady with unchanged prices. Eggs totals 3928 easy with fresh graded extra firsts at 28, firsts 26 1 2, current receipts 25, refrigerator extras 22 3 4, standards 22 1 2, firsts 22 1 4.
Wheat holds steady in Chicago trading with support from corn gains. Corn climbs higher while Argentine prices surge. Cattle show little change to modest gains, and hog futures rise 15 to 20 cents.
Speculation pushed stocks higher in New York with fractional gains as aviation and industrial shares attracted buyers amid expectations of renewed business in 1939. United States Steel Chrysler Greyhound Douglas Aircraft Exell o Union Carbide and others led the advance while rails and utilities followed.
Washington December 7 Paul Sifton deputy wage hour administrator warned employers against “winking” at unrecorded overtime work. He stressed hours must be recorded for each employee and that compensating overtime requires proper official authority and accurate payroll records. He outlined two acceptable recordkeeping methods for fixed schedules and adherence checks with supplementation when overtime occurs.
Chicago wheat futures opened slightly firmer as dry conditions across southwestern winter crop regions drew attention. Dec and May contracts showed modest gains while corn moved mixed to higher before closing up slightly. Sugar futures in New York rose on active covering and buying amid a firmer market tone.
A. R. Johnson, Louisiana welfare commissioner and hospital director, said the new one percent sales tax yields more receipts than the former luxury tax but overall funds for his department remain similar and insufficient to administer programs. The sales tax brings about 475,000 dollars monthly with 33,350 dollars collected for administration, while the old luxury tax netted about 310,000 dollars monthly with a 14,500 dollar collection fee.
Fire suspected from spontaneous combustion in a janitor closet caused thousands in damage at Centenary College in Shreveport Louisiana. Windows were shattered, two hundred library books burned, and the president's office doors and walls sustained damage. classes were canceled but planned to resume tomorrow after the blaze was spotted by a trolley motorman at about 6 am.
Edward A. Byrne, 74, designer of the Triboro bridge project valued at 64.004 million dollars, died of a heart attack at his son Edward Jr s home in Rye New York. A New York City native, he worked 47 years in the city until 1933 when he became chief engineer of the Triboro Bridge Authority.
In Little Rock, Herbert Dutch Akers, 44, former Hot Springs detective chief, received two two year terms for conspiracy to harbor federal fugitive Thomas Norris. Judge T C Trimble imposed the maximum without a fine, citing impact on Akers family.
In Baton Rouge the Sacred Heart College on the Mississippi River will be rehabilitated to house 190 girls for an NYA homemaking program. A four-year lease, $3,700 in materials, and labor by 18 to 25 year olds under H A Hearn are planned with completion in four months.
Baton Rouge reports show the state board of liquidation has borrowed over a million dollars since July adjournment with legislative consent. The board added 450000 for the state printing board plus 100000 from surplus funds, while the debt moratorium commission received 100000. Student aid funded 250000 to LSU and 25000 to four teachers colleges, plus 10000 to Southeastern Louisiana college.
C H Johnson failed to appear for trial and $17.50 cash bond forfeited. Odell Hicks and James Harper each received 15 days in jail for vagrancy. Two others fined $7.50 for drunkenness. One defendant forfeited a $7.50 bond. Two traffic violators fined $2.50 each. One traffic case forfeited a $10 bond.
LOST NEAR PAPER MILL A 16- to 12-year-old boy reported missing. LOST DIAMOND BRACELET at Nest Brey avenue and North Third street with reward. FOUND A good loaf of bread SUREBEST. LOST Pair of mules weight 800-850 lb one black one brown reward Joe Hamilton Downeville La. MADAM ZONA PALMIST offers predictions and readings at Sunset Auto Court Cabin 5 West Monroe Highway No 6 hours 9 to 8.
Poultry markets in Chicago show live poultry with 42 trucks, geese 16, and other prices unchanged. Dressed turkeys firm with young toms at 24 per barrel and other prices steady.
Sheriff records from Monroe Louisiana show a pardon petition filed December 7 and December 6, 1938 for William Baily. The notice requests clemency action and lists filing details.
Jackson police detectives doubt one of two bandits who robbed a Bovina establishment Tuesday morning was Charley Chapman. They said the crime did not fit his pattern and noted the robbers posed as officers and removed slot machines from the Clyde Rogers proprietorship. An automobile used was traced to Hazel McIntosh of Jackson and stolen earlier that day.
Martha Marek a disabled near blind woman deemed a human cobra was executed in Vienna for a murder case involving her husband daughter aunt and a female boarder. Prosecutors highlighted her Jewish ancestry as Nazi papers did while Marek denied the charges claiming she did not cut off her husband’s leg for a $30 000 life insurance.
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