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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 01, 1934
Page
15
The New Orleans cotton pit showed active trading as prices climbed with wheat strength and hopes a U.S. purchase to aid the nation’s needy. July and December contracts hit intraday highs, then eased, closing the day with net advances around 28 to 29 points.
New Orleans spot cotton closed steady with a 30 point rise. Sales reached 419 bales, with low middling at 11.11 cents, middling 11.76, good middling 12.21. Receipts were none and stock stood at 645,561 bales.
A more active demand developed in cotton on June 1 in New York with October contracts rising over 2.60 above Friday’s low. Futures closed steady 27 to 30 points higher, spot middling at 11.80, and daily prices showing broad gains across reported contracts amid perceived contract scarcity.
Liverpool notes a cotton sale of 6 000 bases with 100 American. spot demand moderate and prices four points lower. Quotations show American strict good middling 6.86 and good middling 6.56, with other grades listed. Futures closed firm at July 6.10, October 6.05, December 6.01, January 6.02, March 6.03, May 6.03.
New Orleans cottonseed oil closed steady with July at 4.89 and Oct 5.15 while Jun 4.85 and Dec 5.30. Prime summer yellow ranges from 4.65 to 4.80 and crude from 4.00 to 4.25. New York futures closed firm with June 5.05B and December 5.70B amid 78 contracts traded and 18 switches.
Railroad and motor coach timetables listing east and west bound trains on the Illinois Central and Missouri Pacific lines, interurban connections, and coach routes. Includes arrival and departure times, routes to Bastrop, Bastrop connections, and notes on daily and Sunday schedules. Multiple services to Alexandria, Natchez, El Dorado, and Lou’s connections appear with specific times.
New York stocks weakened as markets faced a downward trend with losses of 1 to 3 points. Steel leaders slid to new daily lows while trading stayed dull, transfers around 640000 shares.
New York June 1 call money steady at 1 percent for the day. Time loans range 3-4 to 1 percent for 60 days to 6 months. Prime commercial paper at 3-4 percent. Bankers acceptances unchanged. Rediscount rate at New York reserve bank 11 2 percent. Government lands note cites over 3,000,000 acres purchased east of the Great Plains for national forests. Numerous company listings follow with varied percentage figures and market items across railroads utilities and steel firms.
New York and Chicago reports show heavy stocks and steel leading a continued retreat in prices. Bonds mixed with U S government issues steady, while utilities and oils sag. cotton rises on scarce contracts with Wall Street and western buyers. Wheat and corn fall in Chicago, cattle and hogs stay active or steady with notable top prices.
Chicago grain traders saw a fresh four cent per bushel wheat advance early today with July contracts rising from 1.04 1-2 to 1.05 1-4. Corn began unchanged to 1-2 higher then surged, oats gained 5-8 to 7-8, while provisions rose 7 to 10 cents. Wheat closed irregular, while corn and oats showed notable moves compared with yesterday.
Cattle and hog markets show 20 000 hogs with direct sales 8 000 and mixed weights. Prices range from 1.00 to 3.10 for hogs and 4.50 to 10.00 for slaughter cattle and vealers while sheep see spring lambs 8.75 to 10.25 and ewes 1.75 to 2.50.
New York June 1 reports irregular foreign exchange with Great Britain at 5.06 3 4 dollars and cables at 5.06 3 4. France at 6.58 1 2, Italy at 8.61, Belgium 23.34, Germany 39.05, Holland 67.67, and other nations listed with nominal figures including Tokyo 30.12 1 2 and Shanghai 2.62 1 2, with Montreal in New York at 100.31 1 4 and New York in Montreal 99.68 3 4. N-Nominal.
New York June 1 The sugar market opened steady on cover and Cuban support but failed to draw fresh demand. July futures fell from 1.56 to 1.54 and December from 1.71 to 1.69 as liquidation and selling dominated. Futures closed steady or slightly lower with sales of 5150 tons and bids listed for several contracts.
The president promises talks on debt settlement with debtor nations while noting Finland has paid in full. He emphasizes American stance that reparations are not connected to sovereign debt and urges debtor nations to use resources responsibly in negotiations.
Washington June 1 The Senate accepts the compromise stock market regulation bill and a presidential report on war debts amid tariff debates and filibuster complaints. House action to send the exchange control bill depends on Republican tactics to delay adjournment beyond June 15.
A divorce complaint was filed in Memphis chancery court naming James W. Moore Jr. of the 1931 Philadelphia Athletics as the defendant. His wife Mrs. Jewett Swift Moore accuses abandonment at Houston on March 15. They wed March 27, 1932 in Santa Barbara, California. Moore has played for Memphis in the Southern Association and Portland in the Pacific Coast League.
Potatoes in Chicago on June 1 show 117 on track with 264 on shipments and total U S shipments at 1 051. New stock weaker and supplies liberal while demand and trading flow remain slow for several varieties including Idaho russets and Wisconsin Minnesota and Ohio rounds. Prices listed include U S No 1 and No 2 grades across multiple states with California White Rose at 2 10 per unit.
Butter prices list by grade with quotes for extras firsts seconds and standards. Current receipts show graded firsts and storage packed firsts, with totals for tubs and fee amounts. Egg sales cited as one car of fresh graded firsts and one car of storage packed firsts.
Poultry markets show hens steady to higher for some items while chickens remain weak. Leghorn hens and various broiler classes cited with prices. Pete Noah of Hugo Oklahoma relieved of brain pressure after a four and a half hour operation following a head injury eight years ago.
Several hundred singers from Louisiana Arkansas Mississippi and Texas are to attend the North Louisiana Singing convention at Louisiana Tech auditorium starting 10 o clock Saturday morning through Sunday. Participants include quartets from Stamps Baxer Music Dallas Vaughan Music Lawrenceburg and Hartford Music Hartford Ark with A C Banks of Caldwell parish as president.
Havana reports the Cuban government mobilized the army and police to quell continuing disturbances after President Roosevelt ended the Platt amendment intervention. Col Batista ordered Matanzas troops into barracks while threats against U S envoy Jefferson Caffery fueled fear. An arson at a paper mill and a bank bomb were linked to Communist blame.
Mrs Clara W Chapman formerly of Magnolia Mississippi and resident of Tallulah for six years died at her home after months of illness. She was a Baptist. Funeral Friday at Tallulah Baptist Church with Rev L A Materne officiating. Interment in Silver Cross Cemetery. Survived by three daughters Mrs H P Hutson Mrs R T Everett and Miss Cecile Whitehead all of Tallulah two sons Hunter and James Whitehead of Tallulah three sisters Mrs C C Cary of Shreveport Mrs Malcolm Carroll of Oakdale and Mrs W H Lenoir of Magnolia Mississippi and three brothers John and George Lambert of Magnolia and Spurgeon Lambert of Macomb Mississippi.
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