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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 23, 1929
Page
2
The New Orleans market opened down on weak Liverpool cables but traded up later as technical buying and month shifting supported futures. January rose to 17.06, March to 17.44, May to 17.59 before easing late. closes were mixed with little net change. Exports reached 4,750 bales as sessions ended steady near the day’s close.
In New York the cotton market saw a slight opening drop followed by rallies as reports of improving business and firmer technical positions supported trade buying and covering. Active months closed steady with most near 17.0 to 17.8 per pound and differing bid ranges through the afternoon.
Trading in cotton expanded with fewer January liquidations, firmer dry goods news, and India market signals. Prices swung half a dollar up and down, then recovered most losses as optimism grew that an upward trend would follow January liquidation.
U S Department of Agriculture notes orange demand remains firm for holiday trade with Louisiana crates selling at 4.50 to 6.00. Apples at 3.25 to 3.75 per box, grapefruit steady at 3.50 to 4.50, cranberries at 4.75 per 25 pounds, and Louisiana vegetables fetching mixed prices including lettuce at 4.50 per crate and celery 5.00 to 5.75. Weekend shipments totaled four cars of oranges and one car of mixed vegetables.
Hogs receipts 40 000 including 18 000 direct butchers with midsize to large weights. Prices range 9.25 to 9.70 for 260 300 pounds and 9.40 to 9.70 for 200 250 pounds. Cattle receipts 12 000 calves 2500 and yearlings in mid to good slaughter classes. Sheep strong with ewes around 50 to 88 and lambs lower.
New York stocks fell sharply amid heavy trading as prices of active issues dropped one to twelve points. Rallies appeared briefly but fresh offerings dominated recoveries, with widespread income tax selling, bear raids, and liquidation cited as motives. The market ended heavy after about 3.7 million shares changed hands. James A. Farrell of United States Steel predicted stronger steel demand after year end, aiding heavy products.
Markets show weakness with S. S. Steel at month’s low amid dull bonds and firm money. Foreign exchanges erratic with the French franc at a 1929 high. Cotton and coffee rise on demand while sugar holds steady. Wheat softens on ample supply. corn offers more in larger country offerings. Cattle and hogs trend higher as Cuban support appears in Chicago trading.
Chicago grain prices drifted lower as stock market weakness weighed on wheat despite Liverpool gains. Chicago wheat opened unchanged to 18-8 cents up but later fell below Saturday’s finish. Corn and oats eased with corn down after an initial 7 to 8 cent rise. Provisions remained firm.
Raw sugar held at 3.77 with no sales. near months soften while distant months gain on cover. London reports a higher German crop estimate, refining unchanged at 5.10 to 5.16. Futures close steady with Dec at 1.82 and later months up to 2.79.
New Orleans reports cottonseed oil closing steady with prime summer yellow at 7.70 and prime crude around 6.87 to 7.12. Prices for future months advance from January to July, with December close noted near 7.70. New York also shows steady closes with similar ranges and calendar spreads.
Butter firm with 10 002 tubs receipts and creamery extras 839 1 2 to 8 1 2. standard 39. extra first 37 to 8 1 2. firsts 34 to 36. seconds 31 to 32. Eggs firm with 3 481 cases receipts and extra firsts 43 to 64. graded firsts 48 to 51. current firsts 40 to 45. refrigerator extras 41. refrigerator first 40.
Potatoes receipts 9 cars with fair demand. Market firm on northern stock, slightly weaker on western. Wisconsin sacked round whites priced 2.35 to 2.45 per cwt.
Associa reports call money firmer at 5 1/2 to 5 1/2, close 5 1/2. Time loans steady with 30 to 60-90 days at 4 3/4 to 5. Prime commercial paper at 5 5/8 to 5 1/2. Bank acceptances steady across 40 to 60-90 days with rates around 4 1/8 to 4 3/8.
Foreign exchanges irregular with Great Britain quoted in dollars and others in cents. Rates listed include Britain at 4 87 5 8, France 9.98 7 8, Italy 5.25 1 4, Belgium 13.99 1 2, Germany 23.93 1 2, Norway 26.82, Spain 13.78, Greece 1.29 7 8, Brazil 11.31 1 4, Tokyo 48.95, Shanghai 52.74, Montreal 9.00.
Cotton spot market quiet with higher prices for American grades including strict good middling at 10.40 and good ordinary at 8.05. Sales reached 400 bales with 2,600 American. receipts 11,460. Futures closed quiet and steady at Dec 6.07, Jan 9.09, Mar 9.22, May 9.22, Jul 9.28, Oct 9.25.
Chicago judge Joseph Sabath plans to halt divorces on Christmas Eve and dedicate a court session to reconciliations. He vows to make opposing spouses consider reconciliation whether they want to or not.
New Orleans police report a weekend of robberies with two grocery stores looted for about $1000. Robberies used breaking in and a two youth hold up forcing employees and customers to line up. William Turner of Mandeville was robbed of two hundred dollar bills and Peter Delerio was found unconscious with a fractured skull near a Touro street stand. police recovered a bloodstained iron bar nearby.
Lake Charles reports a sunny day melting ice that coated trees and shrubs after a cold spell. Temperatures ranged from a low of 21 degrees to a high near 89 as minimal snowfall largely disappeared.
United Press reports a boom in Santa Claus costumes in St. Louis with over 2000 rentals. One costume firm rented 600 outfits, up 120 from 1928, signaling a record holiday season for local youngsters.
Wisconsin reports a 50 percent rise in tame hay production in 1929 over 1928, according to figures released by the state crop reporting service.
Poultry prices in Chicago on December 23 show hens and springs steady with balanced receipts of eight cars. Fowls bring 26 1 2 cents, springs 28 1 2, roosters 17, turkeys 28, ducks 12 to 16, geese 17.
Announcement states L. W. Powell has been employed as a regular Monroe police officer. He arrived from Marion Union parish and previously served here about 12 or 13 years ago under Mayor H. D. Apgar. Powell fills the vacancy from W. A. Lenard’s resignation. F. K. Hamm remains night desk sergeant.
J C Currier of Detroit was shot and killed at the home of L B Pond in Birmingham after invading the residence and threatening Pond. Coroner ruled justifiable homicide. Currier found on the doorway threshold to the bedroom of Pond's daughter Lucille.
E G Holliday a Nashville contractor drove his car into the Tennessee river at Trotter's landing ferry Sunday morning and was drowned before ferrymen could reach him. He apparently mistook the ferry for the opposite shore and attempted to lower a window to escape as the car burned.
English sportsmen push for sportsmanlike big game hunting in Africa as the Earl of Onslow highlights motor car hunting in parts of Africa, prompting calls in the house of Lords for a ban.
A burglar stole between 60 and 75 dollars from the Ouachita Bank lobby cigar store last night using a key. L. J. Hart the owner reported the incident to police noting no forced entry and that Saturday receipts were hidden elsewhere. Police officials urge use of night deposits to deter such thefts.
Baton Rouge December 28 Louisiana Farm Bureau Federation announces 1980 plans including group insurance for members modeled on industrial plans and backed by a Birmingham company. The bureau will also sponsor supervised production and sale of certified seed and offer Open formula feeds after university review.
On the Columbia Country club grounds a nameless white mother cat dashed toward a burning barn to save her kittens. She returned briefly burned, then reentered the blaze as a gasoline drum exploded and did not emerge.
Ruston reports a white Christmas with 10 inches of snow after a weekend storm. A crusted ice layer formed as temperatures dropped, likely slowing melt for 24 to 48 hours. Locals queued for Kodak film, church attendance declined, and youths enjoyed snow scenes and improvised sleigh rides using cars.
Washington December 23 A White House Nimrod returned from Virginia with two large wild turkeys for President Hoover’s Christmas dinner. Lawrence Richey the president’s secretary bagged 12 and 20 pound birds, a ceremonial tribute set to share top honors with prior domestic gifts on Christmas Day.
West Monroe officers chased and captured R Roberson after a three mile pursuit. He had earlier served time in the Louisiana State Penitentiary from DeSoto parish on burglary and larceny counts. He claimed the six year term was cut to three by the pardons board and that extra time was added for good behavior. Both Roberson and Milton have prior prison histories in Arkansas and are held on concealed weapons charges with Milton also charged for assaulting an officer.
A sandwich shop operated by Tim Proffitt was robbed last night. An unknown intruder entered with a front door key, forced open a player piano, and took the coin inside. The owner says no one knows who possessed a matching key.
Chicago coroner's jury identifies Fred Burke, fugitive gunman, as one of the Moran gang's executioners in the North Clark Street garage massacre on St Valentine's Day last.
Joe Crowley's Paint Store advertises rental of an electric waxer and a vacuum cleaner. The shop also offers picture framing services and lists its location in the advertisement.
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