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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 02, 1932
Page
9
Prices opened 8 to 10 points higher in New Orleans as July and December futures climbed through the day. Traders cited improving stocks, rain prospects in the western belt, and firm late-session highs with exports totaling 25,983 bales.
Moderate advances followed initial declines as July, December contracts climbed on demand and liquidation absorbed. Prices moved from 5.01 to 5.20 for July and 5.39 to 5.59 for December while the market posted 12 to 15 point gains mid session and closed steady.
Cotton Letter notes a firm start and persistent uptick through the day as spinners fix and speculative buyers cover. Western weather is mild with showers forecast. foreign demand eases while eastern houses buy, signaling cautious accumulation.
New York stock and bond markets show broad gains with tobaccos and rails leading. Utilities and specialties rally while foreign exchanges are irregular. Cotton climbs on demand. sugar and coffee fall amid European selling and weak spot demand. Chicago wheat firms on rally and damage reports. corn firm with lower country offerings. Cattle active and firm. hogs steady.
Chicago grain notes show wheat opening 1 4 to 5 8 lower then near the initial range. Corn starts unchanged to 1 4 up then weakens. Wheat closes unsettled 3 8 to 1 above yesterday. Corn ends 5 8 to 1 up. Oats vary 1 8 decline to 1 2 advance. Provisions unchanged to 2 cent setback.
Hogs 21 000 head with 5 000 direct mostly steady spots up to 5 higher early top 3 55 230 250 Ibs. Cattle 6 000 calves 2 500 fed steers and yearlings strong to 25 higher trade active. slaughter cattle and wealers with steers 600 900 Ibs 6 25 7 50 900 1100 Ibs 6 25 7 75. Sheep 11 000 steady with higher tendency native lambs 6 1 50 to 6 50, yearlings 5 00 5 35, lambs 9 Ibs down 6 00 0 85.
New Orleans reports steady cottonseed oil with prime summer yellow at 2.95 to 3.05 and crude 2.50 to 2.61. Futures extend from June 3.06 to January 3.35. New York shows easy close with prime summer yellow at 3.25 and crude 2.50 to 2.62. Sales include 17 contracts.
On June 2 the USDA notes U S potato shipments at 958 with 180 new and 172 old. Wisconsin round whites sell 9-11. Idaho russets No 1 fetch 1 00-1 15. New stock weaker with liberal supplies. Alabama Louisiana Texas Bliss No 1 1 85-2 00. Trading very slow overall.
New York trading shows sugar weakening late session with July contracts dropping 1 to 38 and December 75 to 72. Futures close steady to 2 3 points lower as market totals about 15 300 tons with July 59 Sept 65 Oct 68 Dec 73 Jan 74 Mar 76 79 and May 83 84.
Call money in New York is steady at 2 1 2 percent all day. Time loans remain unchanged with 60 90 days at 11 2 percent and 4 6 months at 1 1 2 percent. Prime commercial paper ranges from 2 3 4 to 3 percent. Bankers accepts unchanged.
After an early selling wave, New York stocks bonds and commodities advanced in afternoon trading led by gains in utilities rails and several industrials. The market eyed Washington fiscal legislation with hopes of a balanced budget and early agreement. banks noted improved liquidity while first quarter losses for Class 1 railroads remained substantial.
New Orleans reports varied prices for cucumbers beans squash peppers and okra with Louisiana green corn and a wide range for vegetables. Potatoes onions tomatoes lettuce and fruits show steady to rising values while shipments include multiple carloads from Louisiana and Mississippi on Wednesday.
Liverpool reports 4 63 to 3 38 American grades with 5 000 bales on spot and no Americans. Prices down about 9 points. futures closed barely steady with July 3 76 and subsequent months trading near 3 79 to 3 96.
Butter trading at 9,607 pounds with steady creamery specials and various score ranges. Eggs at 12,613 units with prices unchanged.
A dense ledger of major companies and corporations listed with percentage shares and valuations. Firms include International Harvester, American Car and Foundry, Nash Motors, Chicago and Northwestern, Coca Cola, General Motors, Union Pacific, and Western Union among others. The fragment appears to be a market or equities table with percentages and ownership figures.
About two thousand leaders from 21 states met in Chicago to press Congress and party officials for tax relief. George W. Rossetter opened the session as delegates from 400 cities pledged action for reducing government costs, citing taxes rising from 6.1 to 22.2 percent of income between 1912 and 1931.
Neville High School in Monroe will open its new educational plant for inspection Friday night surrounding the senior class graduation exercises. Ushers will guide visitors, and guests may bring flowers to place on stage for distribution to graduating students per carded name lists.
Police headquarters report theft of license plates 968 684 from the automobile owned by P. A. Hemme in Texas last night.
Irregular foreign exchange markets list demand and cable rates for Great Britain France and other nations with nominal demand figures. The report notes demand rates are nominal and includes values for Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Portugal Greece Poland and several other currencies along with Tokyo Shanghai and Montreal benchmarks.
Chicago June 2 poultry market reports steady trade with 49 trucks. Fowls 13 to 14 cents, broilers 16 to 20, Leghorn broilers 14 to 15, roosters 7, turkeys 10, spring ducks 10 to 11, old ducks 9 to 10, geese 8.
Kay Francis, in her Warner Brothers debut Man Wanted, portrays a wealthy society woman drawn to business while her husband pursues polo. The story, written for her by Robert Lord, centers on estrangement and romantic entanglements as both seek happiness elsewhere.
Monroe branch of Philip Werlein Ltd holds a close-out sale at 324 DeSiard Street with many items below cost. Manager Maude M. Wilmot says stock is being sold to return to New Orleans on June 15. Representatives W. M. Culp and possibly Mr. and Mrs. Culp will stay. W. D. Walmsley will service customers.
In Morristown Tennessee two fathers fought over a girl after a clash between their 18 to 19 year old sons. William M Raines was shot eight miles west of the city on the Jefferson City pike. John Senter was arrested and charged with the killing. Deputy Sheriff R T Moore investigated and said witnesses described the feud escalating from a dispute between the young men.
Senior boys from Monroe playground and recreation department played four games yesterday. Lions beat Indians 22 to 8, Wildcats beat Sterlington 10 to 4, Bearcats routed Columbia 32 to 2, with Sports 7 and Tigers 3 in another matchup.
Roy Pierce aged 12 of Eros road Ward 8 died after a short illness. Funeral at 10 a m tomorrow at the residence with burial in Ward 8. He is survived by his mother and step father N W Wyatt.
The infant son of Mr. and Mrs. C. W. Richie died shortly after birth at their Swartz residence yesterday. Interment was held in Swartz cemetery this afternoon at 2 o'clock.
Funeral services for Jeff N Graves aged 58 who died at home on Mill Haven Road after a stroke will be held tomorrow at Ball. The body was sent today by train. Survived by his widow and children R W Graves E J Graves Robert Graves R F Graves Mrs Laura Foy Nettie Graves Edith Graves.
From the opening hour on Wednesday morning June 1 throngs of visitors toured the new Industrial Bank tied to the White System. The bank’s decor resembled a flower garden with gilt flowers and plants. D W White, president, said local attendance exceeded expectations and praised Monroe citizens for their favorable reception and congratulations.
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