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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 04, 1929
Page
8
In New Orleans on June 4 the cotton market opened high then retreated on short selling before Western demand and better weather prospects lifted July through December contracts. July closed around 18.50 with most months showing 21 to 40 point gains from the day’s lows and exports for the session at 23,42.
New York reports show early cotton gains due to weather news tempered by renewed grain and stock steadiness. By mid afternoon the market turned quiet and steady with marginal declines and scattered price changes across futures, led by contracts including Jan March July Oct and Dec.
A strong buying movement develops in cotton after Washington reveals the agriculture department plans to make 200 million of the 560 million farm relief allotment available upon congressional passage. Short selling and nearby buying push prices higher, with New Orleans showing larger gains than New York due to Monday closure. Market sentiment shifts toward a firmer trend as favorable weather forecasts temper outlooks.
New York June 4 The raw sugar market showed no sales early today but late yesterday 5000 bags of Porto Rican sugar were sold to an outport refiner at 849 a new low price for the season and about 150000 bags of Cuban sugar for June shipment to outport refiners at 352. Early today offerings continued at these levels and futures were quiet with a slight net recovery by midday after an initial drop.
Bonnie Dumas 29 a pipeline worker of Cargas died in a local hospital from pneumonia last night. He was married and survived by his wife and five children. A burial was held at Shady Grove Cemetery today.
New York stock prices recovered further as buying, spurred by improved credit conditions and favorable trade and earnings reports, pushed high priced issues higher. Advances included Commercial Solvents, International Business Machines, Burroughs, and several others, while rails and oils also gained amid merger rumors and strong volumes.
Chicago grain notes demand cooling as wheat prices slip from early gains of 1 8 to 5 8 cents. Corn and oats hold firm with initial gains turning into upturns across the board while provisions show relative strength.
The Senate Interstate Commerce Committee requested authority to scrutinize interstate radio telegraph telephone and cable communications and power transmission. The move aims to cover all facets of cross state messaging and infrastructure.
New Orleans on June 4 reports cotton seed oil closing steady with prices listed for futures and primes. Prime summer yellow at 8.60, prime crude 7.75-7.87, and nearby and deferred months ranging from 8.65 to 8.90 across June to December.
Hogs made up 38 000 with slow demand. top 10.90 per load about 200 lb. weights. Cattle and calves totals 10 060 and 3 000 respectively with steady better grades, slower others. Vealers and yearlings showed firm to strong demand. sheep and lambs moved higher with native lambs around 12.15 and fat ewes 6.00 to 7.00.
Cotton prices rose with 15,000 bales sold as American grades led gains. Futures closed barely steady with July at 9.81 and later months near 9.7 to 9.8. Receipts reached 19,000 bales, including 13,700 American. futures and spot movement showed tight, mixed demand.
President E L Stephens of Southwestern Institute of Lafayette will speak at City High School commencement exercises Friday at 8 p m in the city school auditorium. It is the final local school commencement of the season with an anticipated interesting program and forthcoming details.
Final preparations are underway for a public reception Thursday at 4 p.m. at the St. Francis sanitarium annex new addition. The event runs to 9 30 p.m. with nurse graduation exercises and a 9 30 p.m. dance in the basement classroom. Public invitation is extended to inspect the new facilities.
City High School seniors of the class of 1929 will celebrate with an all night series of events starting at 9 p.m. at the Saenger theatre followed by a midnight refreshment at Hipp Marks residence, dancing, a daybreak swim at the natatorium, and breakfast at Herman Masur residence with Mrs. Minnie Ruffin and other matrons as chaperons.
Lieutenant Apollo Soucek attempted to break the seaplane altitude record in Washington on June 4. He landed after about two o clock and doubted success, saying he did not think he made it. His altimeter indicated between 28,000 and 39,000 feet, with the target near 38,323 feet to beat the old record of 37,995 feet.
Louisiana Ice & Coal company enters the Monroe field by purchasing the People's Ice plant for 66 750 with deed filed. The two firms now own all local ice plants including 1809 De Siard and 511 North Trenton West Monroe plus other facilities a Consolidated Ice and Consumers Ice holdings. Fred MacCandlish arranged the deal, then transferred it to Louisiana Ice & Coal for 10 in cash.
In Mexico City on June 4 the Cristeros chief Enrique Gorozieta was fatally wounded. General Setur nino Cedillo announced his death and said the staff officers were captured while the priest Pedrosa remained at large. Cadres report pacification efforts in Jalisco aim for June 15 amid attacks on Cerro Grande where 70 were fatally injured by a dropped device. 50 women from Cerro Grande head to Las Tres Marias colony.
Bishop E Champion Acheson of the Connecticut diocese admonishes women at Christ church parish for dancing or allowing others to dance. He calls dancing the best reducing exercise during a visit in Bethlehem.
Joe Vanderford and F B Baggett go on trial for hijacking Solomon Roberson, a 51 year old victim who provided funds for a bed for the defendants. Roberson was robbed after a trip from a camp near Monne as jurors are seated in a special criminal court session.
The International Association of Police Chiefs adopted a resolution at its Atlanta convention pledging unqualified support and assistance to the national law enforcement commission appointed by President Hoover. It urged presenting the uniform crime statistics committee led by William P. Rutledge to aid the commission, while three other resolutions backed a national system of uniform crime records.
Butter unchanged receipts 19 448 pounds. Eggs unsettled receipts 26 693 cases. Extra firsts 29 1 2 cents. Firsts 28 1 2 to 29. Ordinary firsts 27 to 28. Storage packed firsts 30 1 2. Storage packed extras 31.
Parish and city high school class of 1929 members will attend a Capitol Theatre evening at 8 p.m. An award ceremony will present two watches donated to contest winners, with contest details published in today's News-Star.
Baton Rouge reports the Louisiana Highway Commission advertises for ten expert draftsmen with salaries from 175 to 226 dollars. The move aims to support the paved road program amid a staffing shortage. Governor Long also signs and acts on personnel moves including dismissals and potential successors.
The People’s Homestead and Savings association marks its twenty fifth anniversary with a formal celebration on Thursday June 6 from 7 30 to 10 p m at its new building 400 DeSiard Street. The structure costs over 100 000 and will be opened publicly for the first time. Officers include President I T Davis Vice President S J Riveire Secretary W L Stevens Treasurer Travis Oliver with assistants P W Bordeaux and Albert C Davis.
J J Hutchins aged 35 of Jackson Miss was instantly killed when his truck was struck by Illinois Central local number 33 southbound near Gallman. The vehicle was dragged about 100 yards and Hutchins suffered severe injuries.
Major McClure Salisbury a 91 year old Confederate veteran from New Orleans was rushed to emergency hospital in Charlotte after overexcitement and excessive physical strain left him in serious condition doctors said last night the incident stunned local veterans and raised concerns about his health and stamina
P. T. Adams 45, a Black laborer from Pine Bluff, was injured on his first day of work loading paper from a truck into a box car. A door on the car came loose and fell on his right shoulder and arm at about 6 p.m. along Pine Street by the river. He was employed by Monroe Transfer & Warehouse Company.
State v Julius Johnson, a negro, is charged with forgery, and State v T W Barron, a white man, is charged with hijacking on two counts. Barron’s attorney entered a plea of insanity this morning, which will decide if a trial proceeds on the criminal charge.
Frantic efforts by about a thousand workers along a Mississippi levee near Greenville, backed by sandbags and an auxiliary loop, quiet fears of a 1927 level flood. Engineers say the danger is in hand and rapid water fall is imminent, though past breaks show the city could flood within hours if new breaks occur.
In Chicago on June 4 two thousand striking structural iron workers voted unanimously to stay off the job until daily wages reach 13 dollars. They rejected a proposed compromise from contractors via the Iron League offering 12.50 a day to October 1 and 13 dollars thereafter through 1934.
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