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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 07, 1932
Page
8
In New Orleans on June 1 cotton futures held steady after early gains. July rose to 5.20 and December to 5.54 before easing as weaker stocks and good weather suggested a bearish weekly crop outlook. Exports reached 16 734 bases with closes near 5.14 to 5.52 and slight net advances.
New York June 7 reports a moderate opening in cotton futures followed by selling and liquidation amid favorable weather and southern selling. July contracts dipped from 5.20 to around 5.10 while mid afternoon activity stayed quiet and most active months hovered near unchanged to 2 points lower. Spot market remains quiet with middling around 5.20.
New York June 7 after showing advances of eight to points in early trading the market sold off near the previous close but recovered some losses in late trading final prices were two to four points above the prior close strength in the first hour came from Liverpool crop news from south Texas reports of increased weevil in Mississippi and Georgia and steady securities spinners and the continent were principal buyers the south far east and local professionals supplied most contracts but no pressure amid weak securities and wheat notes reports from Worth Street show firm attitude of print cloth manufacturers Manchester and Bremen telegrams indicate limited demand cloth and yarn a traveling observer reports 75 percent of Texas crops slightly good 25 percent very grassy acreage down 10 to 15 percent stands poor to very poor weevil more in Mississippi and Georgia Columbus Ga notes heavy weevil reports from that area purchases on recessions seen as best chance for profits
USDA market report shows hogs at 180 to 260 pounds trading around 3.30 to 3.60 per unit and cattle and calves generally steady. Slaughter cattle and vealers range from 6.25 to 7.75 with weight bands, vealers milk fed at 6.00 to 7.00, sheep and lambs higher or steady, packers noting lighter demand for some cuts.
Markets at a Glance reports heavy stocks with scattered selling and unsettled lists in New York. Bonds are irregular while rails run heavy. foreign exchanges irregular with sterling down. cotton quiet as favorable weather supports focal covering. sugar higher with firm spot. coffee quiet with commission house buying. In Chicago wheat is easy amid bearish farm reserve estimates and ideal northwest weather. corn steady with improved cash trade. cattle steady. hogs slow and steady.
Chicago prices eased at the open tracking Liverpool wheat downturns. Wheat closed nervous and lower, corn mixed with a small rally, oats down, and provisions varying from a decline to a rise.
New Orleans market notes reveal tomato prices and state box sales for Louisiana, Mississippi shipments, with detailed ranges for squash cucumbers okra peppers and fruits. Reports include figures for lettuce, cabbage, cantaloupes, watermelons, cherries and carload counts by state.
In New Orleans on June 7, cottonseed oil closed steady with prime summer yellow between 2.95 and 3.05 and prime crude around 2.50 to 2.62. Futures show June through January values ranging from 3.00 to 3.26, with several months quoted and 4 contracts sold.
Cotton prices fell with 3,000 bales traded and American offerings quiet. Spot prices declined eight points with specific classifications listed. futures closed steady at Jul 3.91 and later months around 3.93 to 4.04.
June 7 market notes show a cautious edge with net losses of 1 to 3 points as bonds and foreign exchange stay firm. Auburn and Brooklyn-Manhattan Transit key slips weighed on the list, while American Telephone and Peabody respond to anti-prohibition chatter and dividend talks.
Senate unanimously passes bill by Senator Peterman of Alexandria extending the school fiscal year deadline to July 1, 1940 for Rapides parish schools. The extension delays adoption of the fiscal plan for calendar-year schools and moves the change to a later date. the measure now goes to the house.
A Chevrolet coach owned by Dewey Haynes at Sixth and Depot streets is reported missing. Police headquarters received word yesterday that the car, rented several days ago, has not been returned. The vehicle is described as black with yellow wire wheels and bears the Economy Cab Company sign.
New York June 7. Foreign exchange markets show easy trading with Great Britain at 3.67 7 8 in dollars, France at 3.94 13 16, Italy at 5.13 7 8, and various demands listed for Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Portugal Greece Poland Czechoslovakia Jugoslavia Austria Romania Argentina Brazil and other currencies including Tokyo Shanghai Montreal Mexico City with silver peso.
USDA notes total US shipments at 525 with new stock 290 and old 120. Prices vary by region and variety from Wisconsin round whites to Idaho russets, with dull trading and heavy supplies.
In New York on June 7, sugar futures advanced during the last hour as trade and commission houses covered and bought. The market closed firm, up 3 to 5 points. Approximate sales reached 22,900 tons with July at 64, Sept 72, Oct 75, Dec 78-79, Jan 80-81, Mar 85-86, May 90.
Butter prices posted at 17 508 firm creamery specials ranged 92 to 93 with extras 90 to 91 and firsts 88 to 89. Eggs totals 24 353 with firm extra firsts about 12 1 2 and current receipts 11 1 2.
Call money steady at 2 1 2 percent all day. Time loans steady with 69 9 days at 11 2 and 4 to 6 months at 1 1 2 percent. Prime commercial paper ranges from 2 3 4 to 3 percent, bankers' acceptances unchanged.
Chicago June 17 report shows alive poultry trading with 56 trucks steady to firm. Fowls range 12 to 14 cents, broilers 15 to 19, roosters 8, Leghorn broilers 1 1/2, hen turkeys 12, young toms 1, spring ducks 10 to 11, old ducks 9 to 10, geese 8.
Paramount features Scarface amid public crusade against gangs with press and police backing. Capitol hosts Hell Divers with navy aviation footage aboard the Saratoga during Pan ama maneuvers. Strand in West Monroe screens X Marks The Spot a newspaper world drama with Wallace Ford and Lew Cody, plus a 30 minute musical revue by H D Apgar's Little Sunshine.
In district court Judge Percy Sandel presided as three men pleaded not guilty to bogus check charges. Trial dates were postponed to tomorrow. one man preferred a judge trial while others demanded jury. J. B. Thornhill noted they may be tried by judge or jury if waived. I. M. McCorkles jailed on similar charges likely to be arraigned tomorrow.
Harvard researcher Dr. Wilson G. Smillie reports Spitzbergen workers near the Arctic Circle catch cold with spring arrivals. Miners endure cold winters without colds after walking from warm barracks to a glacier, while the first ship in spring triggers a cold epidemic.
President Hoover affixed his signature to a sweeping revenue bill, boosting taxes across high income brackets and excises. The measure, effective June 21, is expected to raise 1.1185 billion dollars in the current fiscal year, restoring cash basis finances and supporting economic vigor. The companion economy program seeks to match government expenditures to revenue.
Judge J. J. Faulk, 82, long-time Quachita Parish figure and Texas circuit judge, visits Monroe with nephew E. N. Faulk and Dr. R. W. Faulk. Born 1851, he rode here in 1868, later traveled by auto. recalls past city events and wedding attendance. His wife accompanies him.
Scores of United Spanish War Veterans and the auxiliary gathered in Baton Rouge for a two day encampment led by Department Commander George W. Hardy of Shreveport. J St Clair Favrot welcomed the visitors with a local committee from the Lee Scott camp. United States Circuit Judge Rufus F Foster of New Orleans will deliver an address at memorial exercises at 7 30 tonight on the LSU old campus representing the commander in chief.
Arraignments held before Judge Percy Sandel set trial for June 24. Defendants include Joe Raysel selling beer John Elmendorf selling game fish and possessing a wild duck out of season W O Davis manufacturing whiskey J B Doucet and Jack McDonald possessing whiskey Larkin Wade and Percy Robinson brought for plea and again plead not guilty. cases remain scheduled for June 24.
A Brownville frame house owned by the Peoples' Homestead and Savings Association and occupied by L L Hobbs sustained slight fire damage. Monroe firemen used hose lines from truck tanks and later handled a grass fire in Sherrouse addition. Earlier, a residence at 3704 Dick Taylor Street occupied by J M Head burned two front rooms. owner A A Noah reported the loss.
Manchoukuo, the Japanese created state in Manchuria, hopes to win world recognition from stamp collectors with a new domestic issue. The International Postal Union has not recognized the infant state, so Chinese stamps remain in use for foreign mails while talks continue.
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