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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 09, 1928
Page
4
Reports from NS on June 9 indicate a volatile week in cotton futures with prices hovering around 20.0 to 20.5 for most contracts. Net closes showed modest gains from lows, while sales reached 23 and receipts totaled 2,844 with stock at 228,050 amid steady to quiet tones.
In a brief trading session on June 9, stock prices fell as heavy liquidation dominated, with industrials and rails retreating 2 to 10 points. Key leaders like U S Steel General Motors and American Telephone sagged to week lows while call money spiked then steadied and total volume traded reached about 1.4 million shares.
The New York cotton market slid early on rain predictions for Memphis and Sunday showers, with profit taking and weak trade accounts weighing on prices. Futures closed steady to modestly higher, spot trading subdued, with mid staple cotton around 21.10 cents.
New Orleans June 9 cotton seed oil markets closed steady with futures and spot prices showing little change. Prime summer yellow quoted at 9.60 while prime crude ranges from 8.50 to 8.75 with contract dates and months listed up to December at 9.98.
FENNER & BEANE wires R E Floweree & Co reporting early gains on weather worries. Tightening by weekend profit taking trimmed advances as forecasts show rain and winds across the belt. Rainfall from panhandle to Tennessee and heavy rains in Arkansas weigh on prospects and cultivation plans.
Batter higher with 17,398 tubs in creamery extras 43, standards 42 1-2, extras 41 to 42, firsts 40 1-2 to 41, seconds 38. Eggs unchanged at 21,443 cases.
The body of H. McGaha aged 32 died Thursday from injuries after being struck by a falling tree while digging. His remains were sent to Shreveport for burial as West Monroe mourns his loss during the arrival of local members.
Chicago grain prices moved sharply early as the government crop report plus export trade signals spurred gains. Wheat opened 21 8 to 4 higher and then steadied near the initial range, while corn and oats also rose. closing mixed with wheat unsettled and corn and oats little changed. Lard ribs and bellies rose modestly in provisions.
Chicago June 9 hogs 9 000, market mostly strong with Friday’s top 10.00 for 200 280 lb choice. Butchers 250 350 lb 9407.10 05. Cattle 600, weighty steers steady after early gains, light steers and yearlings 2.50 higher, heavy yearlings 14.80 14.75. Sheep 5 000 direct for the week 36 000, yearlings 1 25 1 75 down, sheep 50 cents lower, feeders steady to higher.
Liverpool reports a quiet cotton market with steady prices. American grades top at 11.96 for strict good middling and 11.46 for middling, with sales totaling 3,000 bales, including 2,000 American, and receipts at 2,000 bales. Futures closed quiet with July at 10.96 and December at 16.73.
Poultry in Chicago stayed steady with alive offerings and six arriving cars. Prices remained unchanged as buyers watched the market.
Liberty bonds closed with Liberty 3 1/2s at 100.9 and Liberty 1st 41-43 at 101.3, Liberty 3rd 41-43 at 100, Liberty 4th 2 1/2s at 101.26, plus Treasury 4 1/2s at 113.3 and Treasury 108.4. Market quotes from New York reflect varied bond levels.
Special to The News-Star reports strong prospects for a new 7000 dollar brick hotel in Delhi. The project aligns with ongoing growth and improvement in the area, signaling economic optimism for the community.
Mississippi officials report fifteen hundred feet of power cable and a bridge section were swept away by last night’s flood near West Pascagoula river. Loss estimated at 10000 dollars. An emergency plant will supply Pascagoula and nearby communities with electric current.
Mrs. Clara Wales Root wife of Elihu Root died yesterday at the family home on Fifth Avenue New York aged 74. She had been ill for two years with arthritis Funeral services will be held Monday at 10 a m at Clinton New York her husband’s birthplace.
Florida eight at large delegates likely oppose Gov. Alfred Smith for president. Park Trammell reclaims senate post. Solon Doyle E Carlton appears to win governor nomination. Ruth Bryan Owen defeats Rep. Sears in the fourth district as others across the state hold re‑election majorities.
A federal grand jury in Pittsburgh returned 167 indictments charging individuals including Peter P. Walsh superintendent of police and two state legislators with conspiring to violate prohibition laws. The probe spanned weeks and implicated city officials amid clashes with federal authorities.
Katherine Schaub, one of five curable victims, volunteers for experimental use to aid her four companions doomed to slow death. The workers pursue a lawsuit against United States Radium Corporation of New Jersey, claiming exposure to radium caused the illness.
Catherine Alice Smith, younger daughter of Governor Alfred E. Smith and Mrs. Smith, married Francis Joseph Quillinan of Troy, a lawyer, in Albany on June 9.
Drizzling rain dampened the crowd as Major Smith’s air tour failed to bring word by 11:30. Postmaster Thoman learned the flight was called off for today due to a slight Meridian mishap. announcement on rescheduling was expected from Jackson, Miss. Air mail rates will drop after August 1 from ten to five cents per ounce, with Monroe firms predicting about 400 letters daily.
Harry K. Thaw sails for New York on the Aquitania after England bans landing. He refuses to land at Cherbourg and plans to reach the United States despite prior appeals failing. Thaw says he dislikes Home Secretary Joynson Hicks for blocking his landing.
In Brisbane Captain Kingsford Smith receives a message from President Coolidge praising the Oakland to Australia flight. Don Hancock, Los Angeles businessman, pledges a gift of the Southern Cross to honor the pioneers and erase their debts as they are welcomed after the voyage.
Gov. A G Sorlie leads North Dakota farmers in a motorcade from Jamestown nine June headed for the Republican convention in Kansas City. Nineteen autos from seven counties form the initial caravan with more cars expected along the route. A banner from Big Bend North Carolina proclaims we are going to put a big bend in Hoover.
The plan for the trans oceanic flight shifts to an overland 600 mile Brisbane to Sydney hop. Americans Lyon and Warner will leave the Southern Cross at Suva, staying with the expedition to Brisbane by Captain Kingsford Smith's request as the Oakland to Suva contract ends.
The legislature moves toward a severance tax vote while committees review bills. Tuesday is the last day to introduce bills without rule suspension. Presentations show 506 house bills and 156 senate bills filed. Gas, oil, and timber interests shape tax talks as lawmakers seek funding for school texts and tick eradication amid broad session proposals.
The GOP gathering lists arrivals from radio, Kentucky, Maine, Delaware, Maryland, Massachusetts, Pennsyl vania, Ohio, Minnesota, the Dakotas, Indiana, New Hampshire, New Jersey and other cities. Two presidential candidates are noted among today's newcomers. Senator Guy D. Goff of West Virginia led Low- by about an hour.
A 6000 pound eagle emblem set with Nova gem jewels from Austria stands at the main entrance to convention hall. Networks of radio, telegraph and telephone lines are being installed to relay events to the nation as preparations for next week's convention continue. A blue sky ceiling with 12,000 electric stars tops the hall.
A state proposal outlines a plan to use fiscal agency banks led by New Orleans to lend up to 5 million dollars to the Louisiana highway commission for highway maintenance and contractor payments, repaid from a new gasoline tax. It calls for a constitutional amendment increasing the tax to four cents, with one cent set aside to issue certificates of indebtedness up to 30 million dollars for hard surfacing 1000 to 1200 miles, with revenue overseen by a state liquidation board and parish funds limited to local roads.
Governor comments on a conference outcome proposing a statewide road program funded by a $12 million revenue gain and new four cent gasoline tax. He predicts ten years of heavy paving, reduced maintenance costs, and a shift of parishes off road upkeep with support from major banks including Hibernia Whitney New Orleans Interstate and American banks.
Multiple probate notices from Ouachita Parish Fourth District Court including succession estates for Ben Williams Corrie Williams and George Raysell with creditor claims to show cause within ten days. Includes marshal sale in Monroe city and administration letters of George Raysell petition details and court dates.
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