Market Report Shows Mixed Close in Frenzied Trading
Financial desk notes volatile session with late recovery and steady close. Prices edged down from earlier peaks as traders weighed signals and deferred moves into March and May futures.
16 Feb 1929
Page 1
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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Feb 16, 1929
Page
1
Financial desk notes volatile session with late recovery and steady close. Prices edged down from earlier peaks as traders weighed signals and deferred moves into March and May futures.
New York February 16 opening trading saw moderate activity with Liverpool cables steady and cotton liquidation renewed. May futures rose to 20.07 while next contracts eased from 20.06 to 19.97. overall close held steady with gains of a few points. Middling cotton prices remained quiet with slight net advances, while several near term months posted modest gains and varied open interest.
Hogs 90,000 mostly steady with Friday’s top 10.25 for around 20 pounds. Cattle 300, better grade fed steers and yearlings 25 to 75 cents lower. Fat cows 25 cents lower, heifers steady. Sheep 2,500 weekly. fat lambs 16.60 to 16.78, yearlings 13.00 to 14.50, fat ewes 8.25 to 9.25.
Associated Press notes from Chicago on February 18 show poultry receipts with alive, easy conditions and prices for fowls springs roosters turkeys docks geese.
In Chicago on February 16 butter receipts reached 12 594 tubs with various grade figures and eggs receipts totaled 11 405 cases. The report lists numerous price and quality markers such as extra firsts and ordinary firsts across both commodities.
Charles E White age 15 son of J R White of Swartz died this morning after an operation for appendicitis. Survived by parents and two sisters Mrs Will Freeman and Mrs BR Anderson, Swartz. Funeral this afternoon at 4 oclock in Swartz with interment there.
Mrs L F Taggert 71 died at her Tremont home Tuesday with interment Wednesday. Son R L Taggert and family attended the funeral. Surviving children include B R Taggert M Clifton Taggert Mrs Elmer Laifflette and Mrs B Tharp all of Tremont. In Delhi funeral for Mrs Charles Harrell formerly Miss Udssie Trezevant held with interment at nearby Masonic cemetery.
New York stocks fell as federal reserve actions to reduce brokers borrowings drove liquidation. Radio and many issues dropped 2 to 8 points, with heavy volume over 2.5 million shares. Key names Wright Aeronautical, Otis Elevator, Union Carbide, and others fell five to eight points as selling pressure weighed on the close.
Chicago grain markets opened lower on Feb 14 with wheat down 1 8 to 1 2 cents and corn slipping 1 8 to 3 4 cents. Oats and provisions followed the trend as traders noted overall weakness in equities.
Trade buying and optimistic dry goods mood lifted prices above prior finals in New Orleans as liquidation was absorbed by spot houses and exporters. Liverpool cover and spinners buying supported six prices with a weekly 75,900 bales sold across southern markets, while weather and production signals hint at a stronger market next week.
New Orleans February 16 cotton seed oil closes show futures with several contract months listed. Prime summer yellow at 9.80, prime crude between 9.00 and 9.21, February 9.80, March 9.87, April 9.92, May 9.35, June 10.01, July 10.14, August 10.21, September 10.21, October 10.22.
Liverpool on February 16 reports limited demand for cotton with higher prices. American grades sell 1,200 of 2,900 bales, with futures closing before March 10.23 and 10.24 for May, 10.36 for July, and 10.22 10.20 10.19 for other months.
The infant son of Mrs. Ethel Lewis, under trial for killing eight of her children and grandchildren, has vanished adding mystery to the wholesale infanticide case. Mrs Gorham’s daughter Mrs Wallace said Gorham feared the child would be killed. Lewis says the boy was adopted out and refuses details.
George Earl, 16, who fled from the Louisiana Training Institute over a month ago, remains hospitalized in Columbia after losing his right leg in a Missouri Pacific train strike near Columbia. He crawled from a ditch after rain, underwent a leg operation, then required a second procedure as his condition improved. He will be returned to the institute on discharge.
The three act musical comedy Here Comes Arabella directed by Miss Edith Bahnsen with accompanist Mrs. W P Crawford was performed at Delhi high school auditorium under the Delhi Lions club. Despite rain a fair audience attended and the cast featured Bob Adair as the struggling artist and Edith Bohnson as Arabella due to Mrs Alyce Renwick’s illness. The show will be repeated Monday evening for rain‑prevented patrons.
The Tallulah Lions club received its charter at a 7:30 pm meeting in the Tallulah high school auditorium. Monroe Lions guests attended, with musical numbers by Mrs. W. L. Rountree and dancers Armandine Renaud and V. Moffett, and piano by Max H. Kulke. District Governor L. P. Abernathy presented the charter.
Ha. N. Reynolds, a West Morroe man, is held on a 150 dollar bond for willfully setting fire to a forest. Bond was signed by Tom Allen and G. W. Reynolds with W. E. Shell as complainant. A separate ward conflict led to a 300 dollar peace bond against an unnamed party. D. E. Johnson filed a fear affidavit against Henry Owens, served by the sheriff.
Radio listeners in the United States heard the Westminster Abbey chimes via Pittsburgh station KDKA from Chelmsford England. The chimes strike midnight London time at 6 pm Monroe time, about 4,590 miles apart, though reception is not nightly.
In Biloxi Mississippi on February 16 S8 M Mac Taylor a federal prohibition officer was found not guilty of the murder of George Hammond a Biloxi fisherman. The trial marked the first murder case heard in a Mississippi federal court.
Special to The News. Dorctor C. D. Powell, a well known Crowville physician, was critically ill with pneumonia at Streets sanitarium in Vicksburg but is reported greatly improved and on the road to recovery. Mrs. R. L. Jones and Mrs. L. Binion of Bayville visited Delhi Wednesday afternoon. Lena Phillips of Delhi, who had an appendectomy at Riverside sanitarium in Monroe Wednesday night, is rapidly improving.
W A Burns chief of police at Corinth Mississippi arrived in Monroe this morning to take Lloyd Prichard and Amos Warfield Kentucky youths back to Corinth. The two youths admitted stealing a car from Corinth and were arrested in Monroe this week by Officer A P Clower. The Corinth chief said the insurance company will push prosecution.
Neal, a West Monroe fish merchant, was found guilty in district court on three charges of wholesaling fish without a license. The verdict followed over ruling motions to quash by the defendant’s attorney. sentencing was deferred due to Neal’s absence in court.
At the Capitol the Jones bill to stiffen penalties for liquor law violators faced limited debate in the Senate with a 3 pm limit. The House considered immigration measures while a railroad consolidation bill lingers without prospects this session. Representative Wurzbach of Texas testified that large patronage had been stripped from Republican officeholders amid ongoing investigations.
The dead man found near Orange Grove Mississippi with chest and head wounds is identified as Fred D Burton wanted for attempting to kill a New Orleans policeman on December 24 1925. Cecelar Reyes of Tallahassee Florida identified him and police in Mobile confirmed the identification after fingerprinting.
Five Mississippi agencies petitioned the Interstate Commerce Commission to suspend increased rates for car load shipments of gravel sand crushed stone and similar commodities. The rates would affect western Tennessee western Kentucky and Mississippi highway construction costs rising by about 511200 dollars.
Edwin Denby former secretary of the navy died February 8 and his will filed in probate court here leaves almost the entire estate to his widow Marion Thurber Denby. The heirs are two children Edwin Jr age 16 and Marion 13.
Irving Well of New Orleans was elected president of the Louisiana Bottlers association. M S Biedenharn of Monroe was elected secretary treasurer at the New Orleans meeting held last night.
President elect Herbert Hoover departs Clewiston Florida at 8 30 am on the final leg of his Everglades inspection tour en route to Canal Point Palm Beach and his Belle Isle vacation home amid foggy roads and hurricane wreckage. He views 1928 flood relief plans by the army engineers detailing a three phase levee canal system around Lake Okeechobee.
A stranger killed in an auto crash near Bastrop last Sunday had fingerprints taken by Banister, the city jailer, at the morgue. The prints were sent to the Navy Department in Washington for identification, as the victim is believed to have served in the navy. A report is expected within a week.
Two new tests approved in Ouachita parish last week with one additional test for Richland parish. A test in LaSalle parish was abandoned. Details include Magnolia Petroleum U S A No 2 and Northern La Nat Gas Hemler No 1 in specified sections.
Out of eleven games this season Coach Red Swanson's camera have lost only three games. They won four straight frames from Bastrop and defeated Lake Providence 24 to 7. They plan a return game tonight and travel to Oak Ridge tomorrow.
In New Orleans on February 16 police charged Leon Castillion after his wife Grace Castillion, age 21, reported being assaulted. The case began when a 17 year old girl named Marie Morris told police she was dragged into a vacant lot and attacked, later revealed as the Castillions’ daughter. Police questioned Nicholas Frey, who sought his daughter, and Castillion admitted a quarrel while denying heating. the accusation was assault and battery.
Weather hampered Lindbergh's New York to Paris flight with rain and fog suspected to push a landing to a southeastern airfield. Coastguard and radio stations stretched from Atlanta to Spartanburg in search, while experts noted the 140 gallon fuel load could sustain about seven hours aloft.
State's Attorney John A. Swanson confronted Chicago and Cook County police and sheriff's offices demanding strict enforcement of gambling and vice laws. A sweeping order followed from Police Commissioner Russell to close all gambling dens and vice venues. Moran blamed the Al Capone gang for the killings, while Capone remained in Florida.
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