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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 11, 1940
Page
11
Hedging and commission house activity cooled cotton trading as futures finished five to six points lower. Spot cotton closed steady six points down with low middling at 8.89 and good middling near 10.39, while receipts reached 1,407 and stock stood at 534,105.
New York December cotton futures eased as Bombay market cues and year end liquidation weighed on prices. Dealers cited loan repossessions and farm program uncertainties while price fixes and short covering provided partial support, leaving December at 10.11 and other months declined.
Liverpool reports limited spot cotton demand with prices falling two points. Quotations show American grades from strict good middling 9.62 to strict good ordinary 1.32, while futures slide four to six points, with March at 7.87, July 7.78, and October 7.71.
Cottonseed oil futures in New York closed mixed with gains and losses across the forward months. December and January contracts moved up while March and May slipped, with July holding near the upper levels amid moderate trading volume of seven contracts.
New York market reports firm demand for domestic sugar futures with prices mostly unchanged to two cents higher. January at 1.95, July at 2.68, March 1.99, raw sugar 2.95 cents, refined unchanged at 45.5 cents, futures No. 3 and No. 4 mixed with limited trading volume.
Butter receipts 643382, steady market unchanged. Eggs receipts 4922, firm with fresh graded eggs at 27 1st, 28 2nd, current 23 1 2, dirties 21, fresh checks 20, refrigerator checks 17 1 2. Other prices unchanged.
Tremont and surrounding residents attend meetings and visits. Iva M. Wade leads WPA homemaking and adult education sessions at homes of Levi Harris and Alma Butler with various attendees. Guests include Kathleen Edwards, Velma Harris, and J Evans Dodson CCC vamp, with talks on vitamins salt and parent education.
New York reports a firm start with stocks and steels leading an early rally. Bonds show mixed moves while foreign exchange is narrow and cotton declines amid hedging and liquidation. Sugar firming, copper inquiries active, December liquidation pressure on wool tops. Chicago wheat and corn steady with good new crop prospects. Cattle decline to 25 off as receipts rise, hogs gain strongly on lighter supplies.
New York stocks edged higher on steel shares led by United States Steel and Bethlehem with gains over a point before profit taking trimmed advances. Major names including American Can Chrysler American Telephone Union Carbide and Great Northern preferredalso moved up while rails and bonds largely followed the market. Trading volume neared 200 000 shares as gains narrowed and commodities showed mixed moves.
Chicago grain markets opened with slight gains on securities strength but cooled by weak winter wheat prospects. Wheat held near unchanged to slightly lower while corn stayed largely flat to modestly lower. December and May contracts for both grains finished between small gains and losses.
New Orleans reports American cooperation in replacing British shipping losses as Rear Admiral Emory S Land outlines ongoing aid under the national defense program. He cites Britain and allied purchases from the US and urges a strong merchant marine capable of peacetime commerce and naval support despite heavy submarine and air attacks.
Cleveland expects a coming business boom with rising labor costs and stock advances but no inflationary wage hikes. Ayres forecasts full employment in heavy and light industries by mid next year, with munitions regions thriving and agricultural areas facing weak demand for exports. He stresses preparedness and energy in rearmament.
Funeral services for J S Liggin 85 and his wife who died within days of each other were held at Fellowship church in Lincoln parish and for Emma Watson Goss 73 in Crowville. Survivors include children grandchildren and great grandchildren. Also noted are James Benjamin Thomas 60 Ferriday planter and real estate operator with services at First Baptist Ferriday and interment at Harrisonburg Cemetery.
Chicago dealers report live poultry steady as 29 trucks bring in turkeys toms and young over 16 pounds while other prices remain unchanged for the day.
Willie N Clark and Mrs Louise Reynolds Clark of Monroe Louisiana are appointed as liquidators to wind up Clarks Pharmacy Inc out of court. The Ouachita National Bank of Monroe will hold an annual stockholders meeting January 14 1941 at two PM in the Directors Room to elect directors and consider reports and extension or termination of the January 1933 contract.
Notices announce Ouachita National Bank board election on January 14 1941 at Monroe Louisiana plus a Succession sale under J N Hood deceased with authority sought to sell real estate for at least 785.52 dollars and mortgage assumptions. Heirs and interested parties must object within ten days.
A female bulldog named Screwtail with white feet is missing along with a yellow gelding pocketwatch owned by B. B. Raymond and serial number B 4574547. Rewards offered. Contact phone numbers 4600 and LOST-On Frances Hotel roof Elgin with details.
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