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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 08, 1930
Page
10
The official crop estimate sparked choppy trading as futures fell then rallied. Traders cited hedge selling and Wall Street pressure, with January near 10.30 cents and March around 10.58 cents before fading to close near the day’s bottom.
New York traders weighed liquidation after buys promoted by easy Liverpool cables and a muted crop estimate shift. Following the government report of 14,243,000 bales, prices fluctuated nervously before weakening as southern selling and renewed liquidation took hold.
Raw sugar firmed early in New York trading as buyers held back awaiting developments. A sale of 65,000 bags of Cuban sugar at 33.5 delivered was confirmed with limited availability, while 3,000 bags of Philippine sugar for December shipment bought at 34.2. Futures opened higher and gained into midday, supported by a stronger London market and reports that Cuba and Java agreed to stabilize exports. Cuba reportedly would trim next year’s crop to 3.57 million tons and Java to 2.3 million tons. European conferences set to begin tomorrow, traders watching for details.
New Orleans reports show the government reducing its crop estimate to 14 243 000 bales and a drop in prices despite some buyers waiting. Trading was dominated by liquidation as long positions were sold after the report with futures slipping then recovering slightly. Washington says $150 million is sought for the Farm Board to carry out planned operations, but market response remained muted.
New York stocks weaken with leading rails down 3 to 5 points while bonds stay weak. Curb markets fall slightly but recover. Foreign exchanges firm as Canadian dollar drops below par. Cotton declines. sugar steadies with producer agreement. In Chicago, wheat steady, corn firm on lower stocks and firm cash markets. Cattle weaken. hogs rise.
Chicago wheat and corn opened lower on light buying from government sources. Wheat held steady after a fractional dip, while corn dipped then rose mildly before closing mixed. Wheat finished irregular down to up and oats eased. provisions were mostly unchanged to modestly higher.
The fragment lists cottenseed oil trading notes from New Orleans with prime sums and codes. It provides monthly or contract dates including February March April June and July figures such as 7.02 7.12 7.24 7.28 and 7.35, indicating price or contract values for different months.
In New Orleans market trading was light with potatoes at 2.00 to 2.25 per 100 pounds. Best onions sold 150 to 200 per unit and sweet potatoes 1.25 to 1.50 per cwt. Beets 30 to 35 cents per dozen bunches, carrots 20 cents, parsley 15 to 25 cents, shallots 15 to 20 cents, spinach 40 to 75 cents, turnips 23 to 30 cents, mustard 30 to 40 cents. Sugar cane gold 40 cents per dozen stalks. Apples steady with Delicious 2.40 to 3.00 per box. Florida bulk oranges 2.25 per 106 pounds. Grapes 1.00 to 6.15 per jug box. Pineapples 2.75 to 3.00 per crate, cranberries 7.50 per half barrel. Tomatoes 350,425 per six-basket crate. lettuce 3.75 per crate of five dozen heads. Cauliflower 1.65 to 1.75 per crate, celery 4.00 to 4.50. Snap beans 2.00 to 2.50 per bushel. cucumbers 2.50 to 3.25.
Butter markets show overall weakness with quotations for creamery extras at 314c and 30%3lc, firsts at 22c, seconds at 26427c, and related highs and lows for Pegs and various egg grades. Entries detail extra firsts 28c, fresh graded firsts 25c, refrigerator items 20 to 22c, and current receipts 20%4c, reflecting a mixed market for dairy and eggs in Chicago.
USDA reports potatoes in Chicago on December 8 with prices around steady. Wisconsin white potatoes range from 1.35 to 1.60 per cwt, fancy types 1.55 to 1.60.
Livestock runs show 55 000 hogs including 29 000 direct with fairly active demand and gains of 5 to 10 cents. Cattle and calves at 15 000 and 2 000 head with slow to steady bidding, feeder lambs firm early, fading toward the end of the report. prices listed for various weights and grades across hogs, cattle, vealers, and sheep.
The New York stock market opened this week with a broad downturn led by rail and oil shares falling to near November lows. Baltimore and Ohio dropped five points amid declines in New York Central, Erie, Frisco, and other major names while U S Steel slid before late session recovery. Industry news included hints of stabilizing prices for commodities and renewed sugar accords between Japan and Cuba, with treasury bills yielding a record low rate for six months.
Delegates to the national temperance council met behind closed doors to map the most aggressive prohibition campaign in a decade. Hoover administration enforcement commissioners met for the first time in 12 days, with a possible dry law report may be completed soon. Meanwhile a national constitutional convention of anti prohibition advocates pursued a single substitute for the 18th amendment and the Volstead act.
Motions to dismiss involuntary bankruptcy petitions against Caldwell and Company, a Nashville investment house now in receivership, were filed in federal court. The filings contend the petition lacks specific acts of bankruptcy and fails to show assets at fair value exceed liabilities.
Paris December reports say President Doumergue invited Senator Pierre Laval to form a cabinet after Senator Louis Barthou failed. Laval, an independent socialist and labor minister, is not seen as a strongest premier choice but the French custom allows several senators a turn to form a government following the Tardieu ministry’s overthrow in the senate.
Washington reports 900000 to 1000000 reindeer in Alaska according to a interior department briefing to the house appropriations committee.
Federal court in Kansas City hears from army officers, physicians, and toxicologists to testify on the death of Mrs Zenana M Shepard. Major Charles A Shepard is charged with poisoning his wife to marry Grace Brandon, a San Antonio stenographer. Defense argues death due to alcoholism. several witnesses attended the illness in spring 1929 and declined to sign a death certificate.
F Ray McGrew vice president of Standard Pipe Line Co was elected president of the Louisiana Arkansas division of the Mid Continent Oil and Gas Association at the annual directors meeting in Shreveport He succeeds C R Minor of Gulf Refining Co as president Other officers named were J R Crawford H W Bell D W Harris and W G Ray as vice presidents Ben Johnson as treasurer and Joseph B Elam as secretary Harry H Smith of the General Mid Continent Oil and Gas Association Tulsa Okla spoke on the work of the general meeting held last week in Dallas where J J Crawford of Shreveport was elected vice president of the general association.
Last rites for 48 year old Charles Snyder a Bastrop leader died Friday. Services were conducted at the Kaplan residence with rabbi F K Hirsch and Bastrop Masons rites. Interment in Jewish cemetery. Surviving include widow and four children plus siblings and relatives in Louisville and Winslow Indiana. Neighborhood businesses closed in tribute.
In the heart of the business district two bandits robbed a cigar shop this morning and fled with $15 after locking the manager Fernando Perito 28 in a clothes closet. Perito escaped with injuries after breaking out and identifying the assailants.
14 year old Monroe youth Jarrel Crow is recovering from a fractured skull after a fall from a moving car last week. Doctors say surgery should not be needed unless complications arise and his progress was reported at the Clinic Monday.
Coal mines in this Illinois region closed as hundreds of owners and miners attended the funeral of Mary Mother Jones. A crowd of several thousand marched past her bier in Mt. Olive while a service at the I O O F hall honored her life of labor struggle.
Leon Fife, superintendent of mails for the West Monroe branch office, announced Monday that Christmas packages are being mailed in large volumes, especially those to foreign addresses. The west-side city has responded to the mail early campaign. Monroe authorities will add clerks around December 15.
J. M. Turnley, 1619 Jackson Street, suffered a sprained shoulder Monday after a car driven by Mrs. L. M. Harrell, 702 Mill Street, West Monroe, struck him at the DeStarg and St. John streets intersection. Harrell said she braked to avoid the crash, and her car then hit a waiting vehicle for a blue light entry into De Siard Street. The incident was reported to police headquarters.
Miss Margaret Stovall directs a matinee and evening revue by forty pupils at the city school auditorium on Thursday December 18 for the Monroe Welfare association benefit. The program features singing and expression numbers by Stovall's dance students.
Liverpool reports quieter cotton spot prices with overall declines across grades. American futures close barely steady as Dec through Oct contracts trade between 5.51 and 5.99. Sales reach 3,000 bales, including 2,200 American, with receipts of 4,090 all American.
Hammond La December 8 Relatives and friends are advised of the death of Samuel Mellizer Cate at 7 am after a two year illness He was the son of the late Charles Emory Cate and Mertie Ann Waterman pioneer Hammond settlers He served as organist at Grace Memorial church and later at an Episcopal church in Memphis Funeral services are set for Tuesday at 10 am at Grace Memorial Church conducted by Rev W Tate Young Interment in the family plot.
E L Walker and W E McBride were inducted as district judge and district attorney of the Third Judicial district in Ruston in a courtroom ceremony. Allan Scholars led the installation for the Louisiana Bar association, with remarks by Judge S B Pearce and W J Hammon.
Market notices list alive poultry with prices for fowls, roosters, turkeys and ducks in cents. Also mentions Industrial Alcohol and electric utility references with scattered, unreadable entries.
Five policemen and fourteen communists were injured when clashes erupted at Bernau near Berlin yesterday. Police officers reported the violence as factions confronted each other in the street following confrontations between opposing groups.
Monroe Welfare association directors will meet at 10 o clock Wednesday morning at city hall. Main topics include Christmas season activities and heavy demand for assistance.
John B. Simpson aged 64 an engineer at Memphis Plywood was killed when struck by a machine driven by Steve Stephens a jewelry salesman Stephens took the injured man to a hospital and was later released on 1000 bond He faces manslaughter charges.
Announcement for Georgia Tucker school P T A event to be held Tuesday night includes a supper service from 6 to 7 30 p m in the school cafeteria 50 children will take part booths with lemonade stands ice cream candy and pecans will be sold The program begins at 7 30 with a P T A take off featuring various members and several acts including a Chinese pantomime minstrel songs and a finale titled Georgia Tucker
George Seth Guion of New Orleans announced his candidacy for governor of Louisiana. He plans a formal statement of candidacy near the start of the year. He is the third to announce, joining Harry P. Williams and Dudley LeBlanc amid Huey P. Long’s evolving support.
Mrs. W C Holstein, executive secretary of the Ouachita parish American Red Cross chapter, announced that the Breard Street Negro School junior class reported 100 percent Red Cross membership. The drive collecting memberships in the section has closed, with final tabulation of remaining classes not yet issued.
Authorities in Hammond have no trace of two masked bandits who on Saturday night held up Jesse Anzaloni’s store and escaped with $30. Anzaloni reported one robber fired a shot into the ceiling as they ordered customers to raise their hands. the robbers wore flowing robes.
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