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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 22, 1928
Page
4
Cotton trades modestly up with Jan at 10.45 and most futures 10 to 14 points above yesterday. Spot cotton rises 7 points as selling wanes. receipts total 6547 and stocks stand at 365 416 while futures end steady with a net gain of 7 to 19 points.
The cotton market showed irregular action amid weekend and pre holiday trading with near month positions closing steady to modest gains. Futures ended largely up within the day’s range while spot cotton held around the 20.50 level as markets digest late December activity and openings for new contracts.
In New Orleans the market showed less inclination to liquidate and buyers returned as dry goods news and improved statistics lifted futures. Scarcity of white cotton, unrenderable grades, and strong demand keep liquidation limited, with mills like Amoskeag planning Christmas closures and forecasts predicting a bullish response.
New Orleans seed oil market shows steady prices with prime summer at 9.90 and prime crude between 8.25 and 8.50. Monthly figures rise from January 9.10 to a peak of 9.75 in September, then 9.18 in December.
Chicago market reports show hog prices around 408.65 for 250 to 300 lb shipments and 8.40 to 8.65 for 200 to 250 lb. cattle and calves mixed with steers and yearlings steady after early losses, heifers down 25 to 50, vealers up 1 to 1.50. Sheep market firm with lambs at 14.85 and fat ewes at 8.00, prices closing 35.50 above week ago.
New York reports brokers loans at a record high of 5.157 billion dollars as financing shifts from commercial paper to secured broker collateral. President Simmons says growth reflects broader credit use for large corporate mergers and seasonal needs, with banks and call loan markets driving the expansion.
Heavy weekend profit taking and sporadic selling left prices uneven after early strength. Some issues fell on dividend rumor fears while others rose on year end trade activity. Notable movers included Adamas Express up 7.5 points and Columbia Graphophone up 7, with several names slipping. Total volume about 1.8 million shares.
The Liverpool market showed quiet activity with prices easing for American cotton across grades. Sales reached 2,000 bales, including 1,500 American, with no receipts. futures closed steady for December through October.
Butter quiet with lower prices and large receipts at 2 130 tubs. Creamery extras quoted at 48 1 2, standards 48 1 4, extra firsts 47 1 2 to 48, firsts 45 1 2 to 46 1 2, seconds 43 44 1 2. Eggs unchanged with 4 880 cases received.
Peggy Joyce told the grand jury that a hotel employee forged her name to cash checks totaling nearly $1,000. She complained the bigger annoyance was the fraud itself while wearing a string of pearls. Two nuns and a woman with a son approached her during the testimony.
Poultry alive steady with receipts four cars. Fowls and springs district prices range from 26 to 29. Roosters 20. Turkeys 20 to 34, ducks 24, geese 22 1 2.
The message describes a right hand road near Prairie Dell Texas with 131 miles to San Antonio as the old eagle follows the trail.
Edwin Jeffrson, 48, charged with murdering Myrtle McDowell, 25, last August 8, was declared sane by a district court sanity commission. The unanimous panel listed Dr. T. B. Bird, Dr. Clarence Pearson, and Dr. T. J. Perkins. Trial set for criminal court term beginning January 21. Jeffrien attempted suicide with a pocket knife after the shooting.
Bruce Swayze sues the city of Monroe over an auto crash at the Gordon avenue and Thomas street junction on December 2, 1927. He seeks 2170 dollars for injury nervous shock car damage and medical care. The suit claims a deep unmarked ditch and argues the city bears no extra liability due to a dead end street.
Osh Jones, 28, was caught in the act of breaking into the Dispenza store at 1113 Adams Street by Sergeant W A Lenard and Officer C W Platt. He was jailed on breaking and entering charges after surrendering when a passerby alerted police. A prior looting of cigarettes and groceries is suspected.
Mrs. Alma S. Hale sues R. M. Stamper of West Monroe for $8,105 claiming injuries from a February 22, 1928 collision on Arkansas avenue. She seeks 4000 for disability and 105 for lost salary, detailing a fractured shoulder, displaced collar bone, bruises, and nervous distress after her car overturned and she could not teach for seven weeks.
Anne Nichols told a New York jury that her hit Abie's Irish Rose arose from a Buffalo, New York incident and not Shakespeare. She testified in a $3,009,900 suit against Universal Pictures and said the play has no tragic ending and is based on a Jewish boy's trials.
Washington reports both houses adjourning for the holidays after brief sessions. Representative McGregor of New York bids farewell before his successor, Representative Underhill of Massachusetts, is noted. The Senate's light agenda included poetry and remarks before confirming three Interstate Commerce Commission nominees and adjourning until January 3.
Fishermen in New Ipswich New Hampshire practice midnight fishing for horned poat in two cemetery ponds. The activity is described as not uncommon, reflecting local superstitions rather than fears.
The Shipping Board assigns the American liner President Roosevelt to challenge the British owned Caronia on the New York to Havana route this winter. Ward Line will operate the President Roosevelt as long as the Caronia runs. The Caronia sails January 5, and the President Roosevelt departs to Havana the same day, promising a speed race.
In Wichita Kansas Col Arthur C Goebel noted flier who contracted pneumonia in one lung after an appendicitis operation this week was reported much improved today. Temperature lower and no immediate danger feared. Goebel holds the west non stop transcontinental flight record and won the Diplo air race from California to Hawaii.
President-elect Hoover toured Rio de Janeiro after a Latin America goodwill tour. He visited the Guanabara Palace and ocean boulevards, joined by Foreign Minister Octavio Mangabeira and officials. An evening of lavish electric illumination accompanied a formal dinner.
City prisoners will dine on six hens, apples, oranges, two cases of pop, 12 pies and a large cake along with jail kitchen staples. Eighteen inmates are confined as Christmas food for the holiday replaces the usual fare.
Osie Jones pleaded guilty in district court this morning to break ing and entering during the night. He received a one year term in the penitentiary after the arrest this week by police.
Frank Ranieri reports threats after the trial session for a kidnap case. State witnesses and defendants faced warnings while closing arguments began and a night session was planned if needed. Judge Gentzel released three suspects in the Ole Scully murder case, despite state protest. Prosecutor Hoffman urged the death penalty for Pettiti and Capellano, calling them arch kidnappers with broad public scrutiny.
The Senate meets at noon to address calendar business and four department supply bills continuing work after the recess. The House also convenes at noon with routine proposals in view. Senator Smith of North Carolina calls for inquiry into culture department estimates on cotton production. Senate interstate commerce committee approves nominations to fill posts. House members discuss tariff on Christmas trees and prepare two appropriations bills plus a deficiency measure and war department items. House foreign affairs committee continues hearings on calendar changes.
A Ouachita parish luncheon honored prize winners led by A Strahan H McClary J M Br ard and Charles Hancock R A Moor L H Peevy Ben Tarver Neal M Henry M S Dixon H F Free L Rankin H H Brinsmade. Mr Breard praised agricultural work and urged larger prizes to boost farming education.
Washington December 22 The third of the annual supply bills was reported to the Senate carrying about 112000 for the state justice commerce and labor departments. The committee added 86619 for promoting aircraft 315000 for citrus industry and 10000 to the Alaskan general fund for construction and roads.
A vocal message rails against high meat prices and calls for cutting chunks of meat and other items to lower grocery bills. The speaker pledges daily meal planning aid, aiming to end big bills with a new food administrator.
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