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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 07, 1930
Page
10
The New Orleans cotton market opened easier due to no Liverpool cables and Whit Sunday closing. Early trade fell 1 to 7 points, then eased through the session amid favorable weather and weak stock markets, ending barely steady about 14 to 16 points lower. Spot prices closed quiet at 14.85, off 15.
New York June 7 reports further declines in cotton driven by favorable south weather. Trade shows steadying July around 15.60 while liquidity in long accounts increases. Market ends mixed with active selling and December futures near 14.08, closing barely steady with declines to 28 points.
New Orleans reports extra rain in the eastern belt and stock weakness push active New York cotton futures to new lows while New Orleans July holds near prior lows. Trade interest bought July with a steady spot buyer, but overall sentiment stays bearish due to slack demand and expected crop progress. A private bureau forecasts a 3.7 percent drop in acreage and only 73 percent of the crop planted.
The U S Department of Agriculture notes liberal tomato supply in New Orleans with Louisiana four basket flats at 80 to 90 cents. Nearby corn steady at 2.50 to 2.90 per 100 ears. Cabbage dull 1.75 to 2.50 per cwt. Creole onions firm 3.00 to 3.25 per sack. New potatoes 2.25 to 2.75 per cwt. Garlic dull 5 to 10 cents per pound. strings 15 cents to 1.25. Cucumbers 25 to 50 cents per bushel. white squash 15 to 40 cents. peppers 1.00 to 1.25. snap beans 75 to 90 cents. Celery 50 to 75 cents per dozen stalks. Friday Louisiana shipped 30 cars potatoes, 11 cars mixed vegetables, 5 cars cucumbers, 2 cars snap beans, 3 cars each of cabbage, carrots and peppers.
New York broadcast from June 7 lists irregular exchange values. Great Britain at 4.85 5-8 dollars, France 3.92 1-8, Italy 623 1-2, Belgium 13.95, Germany 23.84 1-2, Norway 26.75 1-2, Spain 12.08, Greece 1.29 1-2, Brazil 11.65, Tokyo 49.40, Shanghai 38.00, Montreal 100. Values shown in dollars for Great Britain and in cents for others.
Butter prices show unsettled trading with quotes across creamery extras standards and firsts. Various rates appear for fresh graded firsts storage firsts and current receipts reflecting a fluctuating market.
Potatoes in Chicago show 124 new, 8 old with old stock steady and no sales reported. New sacks are weak while sacks barely steady. tracing fair with southern stock sacked Bliss noted.
The stock market dropped sharply today with heavy volume as Bearish sentiment dominates. Major declines hit Radio Corporation of America and Radio Kieth, American Can, Johns Manville, Fox, United Aircraft, and Standard Gas, with steel and other equities tumbling to new lows.
Markets at a Glance reports mixed results with U S Steel at a yearly low and bonds firm while convertibles fall. Curb stocks decline, foreign exchanges are irregular with Shanghai up. Cotton and coffee holiday, sugar unchanged. Chicago wheat and corn edges easy on favorable crop news and weak cash markets. cattle and hogs lower.
Reports of good weather for maturing domestic winter crop push wheat lower. Corn oats and provisions also ease with corn down 1-4 to 1-2 cents and further declines as trading closes.
The list shows varied closing prices for leading companies including American Can, Anaconda Copper, Bethlehem Steel, Canadian Pacific, General Electric, General Motors, Gulf Mobile & Ohio, International Harvester, New York Central, and Phillips Petroleum among others. Notable gains and losses reflect sector swings as investors closed portfolios.
New Orleans reports prime summer yellow cottonseed oil at 7.45 for bid, with crude at 6.871-27.00 and near months 7.50 to 7.63 for Oct. New York closes steady at 8.30 for prime summer yellow, with crude at 6.87 1-2 to 7.00. Trading includes various old and new contracts and listed stock prices for tobacco, oil, and rail firms.
Cattle receipts 700 with fed steers and long yearlings down 60. Light yearlings 25 lower, dealers steady. Weekly run second largest for season, top fed steers 14.00, best long yearlings 13.40, bulk 10.25-12.00. Sheep 5,000, hogs 10,000 with slow trade 10-15 lower than Friday.
On June 7 in Chicago poultry prices show alive stock steady with 4 trucks. Fowls 21, broilers 20 to 23, springs 30, roosters 13.5, turkeys 18, spring ducks 16.5 to 17.5, spring geese 20.
Hot Springs Arkansas June 7 Wanderlust led Reben Hampton a 32 year old truck driver to vanish with the truck he was driving and 50 dollars belonging to the company He was arrested near here and charged with petty larceny He received a six months jail sentence.
The Red river shows no rise and is falling upstream, keeping flood damage remote. All levees are reported holding even in weak spots as the crest moves toward the Mississippi River. A substantial fall in the Red river in the coming days will ease pressure on the dikes.
A Monroe 14 year old, Sarah Vaughan, who had been missing after a day trip from Swartz, was found safe at home. Fire crews had searched the city natatorium area with Captain H. E. Roberts guiding the operation after the girl's mother alerted police.
Fred E. Lawville, former North Birmingham golf pro, died instantly when his car left the road and struck a telephone pole in Birmingham Alabama early today.
The Interstate Commerce Commission recommended approval of Missouri Pacific Railroad plans to issue 38.659 million dollars in new common stock to cover back dividends on preferred stock. The move, tied to O. P. Van Sweringen’s control, is not expected to proceed, as new management intends to satisfy obligations by other means.
The Shipping Board will not decide on proposals to purchase government owned steamship lines until President Hoover’s advisory commission reports. Bids came from Cosmopolitan Shipping, United States Lines, and Black Diamond for the American Diamond and America France lines. United States Lines and Black Diamond bid about 25 a ton. Cosmopolitan about 14. United States Lines proposed building two 28 knot passenger ships at about 30 million dollars each if chosen.
Irving Leder 24, heir to a formerly wealthy New York family, recounts his suffering after escaping a U S deputy in New Orleans last March. He says a marshal shot him in the neck, he crawled to a roof for four days, and he pulled the bullet from his neck with his own hands.
Mrs Florence Williams 72 of Portsmouth Ohio, a Gold Star mother, is reported seriously ill in France while visiting graves of American soldiers as part of a group of mothers. She is among several Gold Star mothers touring war graves.
Private advices report the sale of 135000 tons of Cuban sugar to Russia has concluded after financial terms were settled. Price 1.35 f.o.b. Cuba with 25 percent cash and eight months for the remainder at 12 percent interest. Russia seeks 150000 more tons at market price on shipment date. President Machado called a sugar mill conference next Wednesday as trade closes for summer.
Lecter describes being wounded by flying glass and surviving without food or water until he crawled to safety. He details treating his wound by a druggist, then swimming across Lake Pontchartrain to flee, hiding under piers, and eventually being captured in Colorado and returned to New Orleans.
New York June 7 stock prices were sharply low in today’s abbreviated session as the bear campaign dislodged many shares. United States Steel closed at 164.25 a share, down 2.87 from prior levels, while J. I. Case finished at 250, off 18.50. Vanadium also moved, dropping about 10. Broad activity totaled roughly 2,250,000 shares with several issues at new yearly low levels.
Jackson Mississippi June 7 Carl White state auditor was cleared of contempt citation after allowing deputies from the tax collector to examine his records.
Mrs J M Fream died suddenly at her Sherrouse addition home Wednesday afternoon. The funeral will be held at the family residence at 10 o clock tomorrow morning. Interment will follow at Riverview Burial Park.
The funeral for Ance Windham who died last night from a pistol wound will be held tomorrow afternoon at the family residence with interment in Chapel Hill cemetery. Rev. N F Vandegaer of St. Matthew's church will officiate. Active pallbearers include Finous McCormick William McCormick Guy Hufty Roy Blackwell Buddy Griggs and Pete Griggs. Fifteen honorary pallbearers named.
The guest of honor at a formal seeming dinner, hosted by Philip Veritzen, senses hidden aims as he courts Mary and a predatory undertone colors his gestures while orchid centerpieces tempt the eye. The narrator resists orchestrated charm and recalls memory of Hugh Grantland as the meal unfolds.
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