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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 29, 1930
Page
10
The New Orleans cotton market opened four points down but rallied as early firmness in stocks supported prices. March reached 9.99 and May 10.25, with late-session gains of 14 to 18 points for the day, aided by strong exports of 35,417 bales and a scarcity of contracts.
The Associated Press reports New York trading saw an initial drop in cotton futures before rallies on covering and some trade buying. May moved from 10.08 to 10.26, with prices easing later. Futures closed steady to 20 points higher and spot middling at 9.95.
In New Orleans on December 26, cotton rose about a dollar per bale as demand stayed strong. Limited contracts and hopeful news on future demand kept prices firm, with a late-day covering rally offset by a small pullback at the close. Reports cited a Fed rate move favorable to raw materials and forecasts of lower acreage.
Cotton seed oil closed quiet in New Orleans with prime summer yellow at 6.75. Crude ranges 5.75 to 6.00, near terms mainly 6.68 to 7.11 for months including 668, 6.72, 6.89, 6.91, 6.98, 7.02, and 7.11 for June to July.
In New York on December 23, cottonseed oil closed steady with Prime summer at 7.01, prime crude 5.75 to 6.00, and related notes showing market activity and pricing dynamics despite scattered garbled text.
Poultry prices and types listed in a short Associated Press Chicago market note dated December 29. Figures include fowls 16 to 22, roosters 14, young turkeys 34, ducks 17 to 23, geese 1p, with totals for ears and trucks referenced.
The Associated Press reports U S Department of Agriculture potato prices in Chicago on December 29 with Wisconsin round whites trading 1.45 to 1.65 per cwt and firm overall trading.
Heavy loan calling ahead of year end payments pushed the call money rate on the New York Stock Exchange higher. The official rate renewed at 2.5 percent and climbed in three half percentage point steps to 4 percent, the first time the level reached.
Markets at a Glance shows stocks heavy with declines in rails and second grade bonds. Curb markets weak on specialties while foreign exchanges ease with Sterling down. commodities mixed as cotton and sugar ease while coffee and wheat trend weaker. Cattle steady and hogs irregular.
Wheat and corn markets showed mixed moves in early Chicago trading with initial declines turning to gains. Wheat closed irregular while corn and oats moved modestly, and provisions swung from losses to gains as contracts shifted through the day.
Hogs 55,000 with 25,000 direct. weights under 229 lb steady. Medium 200-259 lb 7.70-8.30. heavy 250-350 lb 7.40-7.50. slaughter pigs 100-130 lb 7.75-8.50. Cattle 17,000. calves 2,000. steer run short, many prices steady or lower. vealers firm to higher. Sheep 30,000. fat lambs up. ewes steady. lambs 99 lb and under 7.25-8.50. common 5.9-6.0. fat ewes 3.00-3.50. hogs and cattle price ranges listed.
Cotton spot prices in Liverpool show only slight firmness with listed grades and daily turnover of 2 000 bales including 1 208 American. Receipts reach 25 000 bales with 16 000 American. Futures closed steady at Jan 5.15, Mar 5.25, May 3.38, Joh 5.49, Oct 5.62.
Chicago reports dairy and egg price standings with butter and creamery extras listed. Values cover creamery extras, standards, firsts, seconds, and related grades for butter, eyes, and fresh graded entries with multiple price points.
New Orleans market notes show cabbage moderate, beets and carrots mixed, greens and onions steady. Prices include $0.53-$1.00 per dozen for cabbage, $1.50-$1.75 per 100 lbs for sweet potatoes, $3.25-$4.00 per crate iceberg lettuce, and $2.00-$4.50 for various fruits and vegetables.
New York stocks drifted near year’s end with little optimism for a quick recovery. Rail and metal issues dipped while some industrials held a stable tone, and calls for caution dominated as traders priced in slow 1931 recovery and year end liquidity pressures.
Judge Fred M. Odom of Bastrop will be sworn January 1 and take the Louisiana Supreme Court seat January 5. He resigns from the second circuit court of appeals after a Shreveport session and heads to New Orleans to begin service. He succeeds Justice D N Thompson of Monroe who retired December 1. Governor Long will appoint Judge Thomas I. McGregor of Rayville to the circuit court of appeals to replace Odom.
West Monroe police Chief J. M. Hammons said city consented to temporarily allow parking longer than one hour along Trenton street from Wood to Clayton. After complaints about strict enforcement, an inventory showed 21 businessmen favored non enforcement while seven favored enforcement.
Thirty Ouachita parish farmers joined a cooperative plan to grow Irish potatoes for shipping. E R Strahan, agricultural agent, said the group covers 47 acres, with members planting from half an acre to five acres each. A meeting will be called within ten days to align seed, fertilizer, planting time, and cultivation methods so harvest and shipment occur simultaneously.
Mr. Williams of Jackson and Dr. F M Smith of Vicksburg visited the Louisiana Training Institute during Christmas holidays. They observed Austrian winter peas and burr clover demonstrations and praised the planting methods and the dense six inch weed mat. Early planting is key for a good stand.
West Monroe aldermen set January 5 for a busy session to draft the 1931 budget and review ordinances. The water well issue faces the board after health board concerns. City Judge W Decker Moore and Police Chief J M Hammons request ordinance revisions as the new court expands its jurisdiction. A heated budget debate is anticipated with the police likely spared from cuts.
Gamma Rho society of City High school science students will meet at the school grounds Tuesday morning and depart at 9 o clock for a hike to the Brown Paper Mill for the annual inspection. Lunches will be carried and a picnic is planned near the mill at noon. Prof W C Spight faculty adviser leads the group and invites last year’s seniors and friends to join the tour and picnic.
In U S district court Judge Ben C Dawkins two men pleaded guilty to Dyer motor theft charges and received prison terms. Thomas Pierce 22 of Chillicothe Ohio drew 18 months for bringing a rented car to Bogalusa Louisiana from Denver and not returning it. Charles Murray was sentenced to two years in the Atlanta federal penitentiary for stealing a car driven from Meridian Mississippi to Ferriday Louisiana where highway officers pursued and wrecked the vehicle. Murray was captured. a companion fled into a swamp and escaped.
About 6,000 residents had paid the 1930 poll tax by noon at the Ouachita parish sheriff's office. The tax deadline is midnight Wednesday December 31, and deputies urged those unpaid to settle now to avoid a late rush.
The Happy Hour theater in West Monroe will be leased for one year to Kelly Amusement of Bossier City by owner C. W. Parnell. The lease begins Jan 1 with a $5400 term and an option to renew. Kelly Amusement operates four Louisiana venues and other state theaters.
Charged with interstate action of a stolen automobile, R Leggett and O R Augustine were arraigned before United States Commissioner H M Eshelman. Bond set at 1500 each, they were remanded to parish jail as unable to meet the amount. Case grew from Monroe police arrest with a car bearing altered motor numbers. Augustine a Chattanooga switchman and buyer of the car for 200 of 400. Car stolen in Indianapolis. Court term opens January 5 at Opelousas western district Louisiana.
Armadine Renaud, head of the Armadine Renaud School of Dancing, left by train for the Louisiana association of Dancing Masters two day convention at the Jung hotel in Orleans. An unoccupied residence at 1103 Crosley street West Monroe owned by J F Heard was destroyed by fire early Monday, origin undetermined, insured for 2200.
An assortment of toys donated by Boy Scouts and Camp Fire girls was Monday given to 51 children at the colored kindergarten run by Mayme E. Goodwyne in the basement of St James Methodist church on Adams street. Goodwyne thanked contributors and asked for chairs and blackboards for the classroom.
In the December 13 issue the News Star incorrectly stated Sid Freeman was fined one dollar for operating with an improper license. The charge should have read driving an automobile with improper lights, and the newspaper issues this correction.
The infant daughter of Mr. and Mrs. C. E. Brownlee of Calhoun died at their home early Monday. Funeral services were planned for Monday afternoon at Forksville Cemetery.
H. E. Roberts, assistant chief of shag Monroe fire department, was appointed by Mayor Bernstein to act as fire chief during recovery. Fire Chief Frank Roddy remains serious after a crash that wounded Mrs. Roddy and Fireman John Welsh as a blaze gutted five Des Siard Street stores near Catalpa Street, caused by a faulty lavatory wire.
West Monroe residents are using more water than usual with consumption reported as double typical for the season by Water Superintendent Earl Becton. He noted December should see normal use, but many nonmetered customers keep pipes open all night and draw substantial amounts over a few days.
A permit to drill a gas well named Smith No 1 was issued to the Chita Natural Gas and Oil Company. The well will be drilled 660 feet south and 1 224 feet west of the northeast corner of section 36 T20N R2E in Richland Parish.
Ouachita parish and Monroe city students returned to school after the Christmas break. St. Matthew's Parochial School plans to resume classes on Friday, with Ouachita parish and Monroe students set to return on planned dates.
Funeral services for James R. Rogers 56 a farmer who died of a heart attack late Saturday at his home 11 miles south of M on the Columbia road were not announced by Monday noon a son was due from Mississippi today Rogers leaves a wife and several children.
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