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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 05, 1930
Page
13
New Orleans cotton trading was moderately active with early gains slipping then rallying on farm board loan hopes. July and October prices rose to new highs before giving back some of those gains, closes near session highs with steady overall tone and 15.30 spot.
New York reports modest gains early, weakness midday on cover and weather views, then late day demand pushes prices to new highs. July and October contracts edge up while spot stays steady at 16.00 with a net daily rise of about 8 to 21 points.
New Orleans reports a market rally after a weak start with advances in new crop values and silver. Farm Board Chairman Legge pledged lending 75 to 85 percent of crop value, aiding market confidence. rains favored eastern regions while Oklahoma saw unwelcome showers and forecasts hinted at more rain.
Cotton spot dull with lower prices across grades. Sales 2 000 bales including 700 American. Receipts 3 000 with 400 American. Futures closed steady with July at 7.76, October 7.59, December 7.57, January 7.58, March 7.63, May 7.66, July 7.68.
Butter and eggs markets report steady prices with butter trading at 12,206 and eggs at 17,106. No changes in pricing observed.
Chicago June 5 USDA potato market notes 50 new 12 old old stock firm with little trading Wisconsin sacked round whites 3.05 new stock slightly stronger trading good southern sacked Bliss at 0.8 No 1 4.30 4.25
Professional traders pressed prices one way with bear selling in volume. Downtime in the final hour dragged many blue chips down 5 to 10 points, led by U S Steel, General Electric, Eastman Kodak, and Worthington Pump as credit and rate fears weighed on sentiment. Sales totaled about 2.6 million shares.
Stocks edged lower with popular industrials down 3 to 5 points while bonds held steady and traded narrowly. TransAmerica hit a new low before a rally, foreign exchange was irregular with sterling strong, cotton and sugar eased, coffee rose, wheat firm on bullish crop news, corn firm on dry southwest conditions, cattle weak and hogs steady.
Chicago Wheat opened 38 cents off to a shade advance and drifted. closed 1 cent higher than yesterday. Corn, oats and provisions were firm with corn up to 3-8 cents, oats 3-4 and provisions 2-35 cents. Relative Liverpool strength and dry spring wheat areas supported the market.
On June 5 in Chicago, hogs at 27 000 head with 7 000 direct sales, mostly steady with top at 10.50 and ranges for various weights. cattle 7 500 and calves 3 000 mostly weak to 25 lower across slaughter classes. sheep 15 000 with lambs 25-50 lower and fat ewes 25 or more lower.
In New Orleans on June 5 cotton seed oil closed steady with futures listed as Prime summer yellow at 7.50 for spot and prime crude around 6.87 to 7.70 for the upcoming months including June July August September October November and December reflecting a firm market.
Poultry prices listed for Chicago on June 5 include alive birds in 1 car and 22 trucks with overall weakness. Fowls range 20 to 21 cents. broilers 20 to 30 cents. springs 80. roosters 13 1 2 to 14. turkeys 20. spring ducks 16 1 2 to 17 1 2. spring geese 20.
Biloxi Mississippi June 5 Old soldiers of the South Confederate reunion close business and prepare for a grand ball with music by the U S Marine band A memorial service honors fading veterans and tomorrow a grand parade ends the Dixie gathering marching five miles along the Gulf coast to the lighthouse returning to camp wells and farewells.
SHREVEPORT June 4 The Red River Presbytery ordained three ministers Ralph L McCaskill of Shreveport called by the Presbyterian church at Delhi C G McClure from Georgia called to the church at Winnsboro and M M Miller from Austin Texas called to the Plain Declining and neighboring churches Rev R M McGehee who recently resigned the pastorate of the church at Mansfield was dismissed to accept the pastorate of the Presbyterian church at Weatherford Texas
In Shreveport on June 5 a jury in the suit brought by Mrs. Belle Austin against the Pardee company for $25,000 in damages, related to a fall at her Castor Louisiana home, reported being hopelessly divided and the case was dismissed by Federal Judge Ben Dawkins.
Dublin reports that new long term borrowing is expected to provide thirty million dollars in revenue for the Irish Free State's planned expenditures during the 1980-81 fiscal year.
Call money steady at 3 percent all day. Time loans listed for 30 to 60 days at 3 percent and up to 5-6 months at 3 1 2 percent. Prime commercial paper at 3 1 2 percent. Bankers acceptances easy with 30 day terms at 2 1 4 to 2 1 8 percent and longer terms up to 5-6 months at 2 1 2 to 2 3 8 percent.
Associated Press reports irregular foreign exchange in New York on June 5 with British pounds at 4.85 5 8, francs 3.91 15 16, lire 5.23 3 8, Belgium 13.95, Germany 23.84 1 2, Norway 26.75, Spain 12.14, Greece 1.29 3 8, Brazil 11.70, Tokyo 49.37, Shanghai 37.22, Montreal 100.00, and other rates in cents for British dollars and others.
In Trenton New Jersey Dwight W Morrow ambassador to Mexico and Senate hopeful is urged as a presidential timber by Edward C Stokes and Dr John Grier Hibben The speakers at a rally praise Morrows past service and legacy noting New Jersey produced Woodrow Wilson and urging a Republican president from the state.
New Orleans June 5 United Press reports Governor Huey P Long said during his remarks about General Frank R McCoy that he did not have on pajamas at a reception in the gubernatorial bedroom The tale has stirred diplomatic circles in Louisiana amid rumors of the generals visit to support the Citizens Military Training Camp at Alexandria
Father J C Marsh pastor of St Matthew s Catholic Church spoke to the Rotary club at the regular noon meeting on education. He urged strong parental interest in children s schooling and staying in touch with their activities to shape character and future. The address was the program’s main feature.
Ance Windham, 16, wounded by a pistol shot that pierced his stomach and intestines, was reported slightly improved today after a night of critical condition when his temperature neared 106 degrees and physicians warned of peritonitis. The shooting occurred Saturday night near West Monroe, when D. L. Whitman, 47, a farmer from the Drew community, fired the shot.
Clyde Ingram, poultry specialist at Louisiana State University, and Mrs. Jewel L. McQuiller, demonstration agent, inspected flocks of members of the Louisiana Poultry Improvement Association in Ouachita parish. Ingram reported most flocks were in good condition, especially the young chickens.
Associated Press reports a new rate cut by leading New York bankers acceptances. The 1 eighth of one percent reduction affects all maturities with new levels at 30, 60, and 90 days around 21 4 and 21 8 percent, 120 days 28 8 and 21 4 percent, and 150 to 180 days 21 2 and 23 8 percent.
The New Orleans Times-Picayune reports General McCoy, accompanied by several officers, attended a ceremony where the governor finished his toilet and wore formal attire. The visit occurred around 11 a.m. McCoy, later in Atlanta, said nothing of the affair, reportedly amused. Governor Long quipped that it would not trigger further international complications.
Refugees trudged home through burned timberland as rains cooled fires in Fort William and surrounding districts. Foresters reported control but described widespread ruin and possible fatalities. a mink farm escaped as flames approached. A party of 70 foresters saved themselves by diving into a river, staying five hours. Damages were estimated up to 500 600 dollars.
Baton Rouge officials outline initial plans for joint inquiries into the Louisiana highway commission and the state penitentiary. The two committees will meet on alternating days with sessions timed to enable cross attendance, and the senate may convene each morning to finish business before afternoons of investigations. Ashton Fener, a Plain Dealing law student, was named sergeant at arms for the public roads committee.
Baton Rouge June 5 Facing a clouded career the bill provides for a Northeast Louisiana charity hospital at Monroe and was introduced in the senate by Senator M C Redmond. The measure has no appropriation and may pass, but funding construction faces doubtful prospects amid tangled state finances.
Wesleyan College of Macon Georgia, the world’s first chartered women’s college, marks its 93rd year of operation highlighting its historic role in women’s higher education.
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