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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 06, 1940
Page
6
New Orleans June 6 cotton futures advanced after early declines on war news and a firmer spot basis. July closed up 4 points at 9.56, October and December each up about 5-6 points. Spot cotton closed 15 points higher with sales 189 and middling at 10.40 cents. Average middling across markets rose to 10.15 cents.
River Stages New York notes a higher stock market led by steels with uneven bonds. Foreign exchange strengthens with sterling up 23 4 and franc up 19 points, while cotton and sugar show uneven trade and hedging. Metals steady, tin easy. wool tops firm. Chicago wheat firm and corn, cattle, hogs mixed with hogs 15 20 lower.
Wall Street showed a modest improvement as steel stocks led a mild recovery with gains in leading issues and Packard blocks lifting turnover in the final hour. The day remained slow overall with transfers around 400 000 shares and speculative nerves easing amid anticipated defense spending and tax considerations.
Public contributions to the American Red Cross war relief drive topped 6 million dollars. Ouachita parish chapter chair Gibson cited widespread gifts including from children. Total for Ouachita reached 3,914 dollars with many donors listed such as Frank P. Tichell Jr and 7-Up Company employees.
New crop cotton futures fell as spot houses hedged commitments and foreign interests sold. July remained steady on trade covering amid a tight spot, while late trading showed mixed gains across contracts.
Chicago market update reports U S shipments and prices for potatoes with California and Idaho varieties and goods, noting weak demand and light sales. Livestock shows slow hog and sheep trading with late activity improving slightly for selected lots and steer and yearling demand steady.
Butter prices steady at 25 1-2 cents with 196 786 pounds announced from creamery 91 score. Other butter listings and egg quotes also steady with 40 833 eggs noted and unchanged prices.
Chicago grain notes Wheat held steady as German Somme advances limited buying. Wheat futures opened unchanged to 3-8 higher with July at 74 5-8 and Sept at 80-80 1-4. Corn opened 1-4 lower to 1-8 higher with July 62 1-2 and Sept 61 1-2 to 1-4.
U S sugar futures weakened as producer liquidation and external selling pressured markets. July and December contracts eased a few points while cash demand remained tepid, with No 3 and No 4 futures showing modest declines and substantial sales reported.
Poultry live said to be 54 trucks in transit with steady prices. Leghorn hens and springs show modest gains while breeds such as Plymouth Rock and White Rock list higher weights. Bareback chickens and ducks rise slightly with turkey hens at 12. Other prices remain unchanged.
A Coca Cola party at Mrs. J W Huckabay’s home honored Tallulah residents Mrs H V Brown of Little Rock and Mrs H C Patterson of Lake Village along with many guests. Other notices describe a Margaret Webb high school dance, bridge gathering, a breakfast with the Wednesday Club, a bingo shower for Mrs Wade moving to Warren, and birthday dinner for Stuart Moberley with local attendees and visiting graduates from nearby towns.
In New Orleans on June 6 cottonseed oil closed steady with bleachable summer yellow at 5.90 nominal and prime crude near. Futures in New York rose 6-9 points with July at 6.02b and Oct 6.08b as sales reached 68 contracts.
House speaker Normen Bauer Governor Sam H Jones and Lt Governor Marc Mouton decided to postpone appointing a legislative committee to investigate the public service commission after a Senate call. The same day the Senate passed a tax and judiciary package including a deadhead penalty bill and open hearing on higher wholesalers licenses.
The Eros charge of Methodist churches gathered at Antioch Church on June 2 for a final celebration. A morning program included hymns, readings, a lesson highlight, a sermon, and a benediction, followed by an afternoon session with reports and discussions. Basket dinners were served at noon.
The Ouachita parish farm debt adjustment committee met Thursday at 2 p.m. in the Farm Security Administration office in the Old Central Savings Bank and Trust building Monroe. The committee aids financially burdened farmers and offers free referral to D L Bornman or P G Boyd for cases. Members include John D Filhiol chairman, Gerald S Manning, James R Tidwell, W A Galloway, and Robert G Harmon.
Atlanta report from June 6 notes the war in Europe likely to cut world cotton demand. Belgium Holland and northern France factories may close, reducing consumption by about 1.2 million bales across Dutch and Belgian mills. Italian mills have consumed about 700,000 bales in each of the last two seasons.
The Louisiana Senate unanimously adopted an amended resolution calling for a full investigation of the state conservation department and mineral board. It includes all state leases and dealings on mineral exploitation of state lands, expanding the original scope. Senator Lloyd Hendrick of Caddo Parish sponsored the measure.
The Monroe Fire Department is sending the American Legion emergency fire truck to a convention in Shreveport Friday. L. H. Patrick, with Captain J. B. Ryals H. G. Guinn and Dewey Mobley, will demonstrate its use. The truck, presented last year by Faulk Post No. 13, is one of three in operation locally.
In La Grande Oregon a long unopened book in Ed Rogers collection uncovers a likely carbon copy of General Ulysses Grant terms of surrender to General Robert E Lee at Appomattox courthouse on April 9 1865 The faded duplicating paper was hidden in a second hand store book and may align with a description by Horace Porter Grants aide de camp and with Porters manuscript showing Grant’s manifold order book wording
Washington reports 73 WPA projects ranked for national defense priority by Col. F C Harrington. The list spans 31 states plus the District of Columbia and Hawaii, aiming to fit quickly into Roosevelt's defense plan. Barksdale Field at Shreveport appears on the priority list.
Senator John Overton said he was ready to accept any challenge from Governor Sam Jones after Jones questioned Overton and Senator Ellender eligibility for re election. Overton added he was not afraid of the big bad wolf. Representative Fernandez criticized the governor's Washington visit on the house floor.
About 200 Irish Republican Army suspects rioted in Cork jail today. They shouted Heil Hitler and set shirts on fire while throwing them from windows. Police reinforcements and soldiers charged the crowds outside to restore order.
Governor Sam H. Jones said Louisiana would leave gambling enforcement to local officers and denied a state police ordered statewide cleanup. He noted ouster actions may be filed in district court and that no state officials participated in removing coin machines in Lake Charles. Sheriff Henry A. Reid led the Calcasieu parish action.
Ira G. Payne of Fast Schrodack New York was elected president of the American Jersey Cattle club at the 72nd annual session succeeding Perry B. Gaines. New directors include Rex F. Reed Tupelo Mississippi.
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