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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 09, 1930
Page
8
The New Orleans cotton market opened up and slipped on hot weather and selling by spot interests then steadied after midsession. July fell to 14.73 while October held around 15.85 with a 68 point gap closing. exports reached 14 466 bales as prices finished down modestly for July and new crop months.
In New York on June 9 the July cotton contract fell to 15.94 amid liquidation of trailing long positions. Near months weakened on favorable weather reports and new crop months dropped 19 to 23 points. October offerings steadied around 13.13 while the market quieted with modest rallies on covering. Spot was easy at 15.20.
The New Orleans market saw July cotton futures fall sharply as liquidation spread from the July to October spread and long accounts unwound. Rumors that the Farm Board representative was selling July and buying new crop triggered broad straddle liquidation, with July off more than 2.50 per bale while new crop eased about 1.00. Weakeness in stocks and good weather fueled selling early, though brief rallies occurred on profit taking. Bearish textile and census reports are anticipated, with a continued downtrend unless conditions improve.
Associated Press reports New Orleans June 9 market notes cotton seed oil closed steady with prices for various grades and futures listed including prime summer yellow at 7.45 prime crude 6.75 6.87 January 7.67 June 7.40 July 17.45 7.50 September 7.53 October 7.55 November 7.55 December 7.62.
Associated Press report from Chicago on June 9 notes poultry prices for alive stock in 8 cars and 7 trucks holding steady. Fowls range 21 to 22 cents, broilers 20 to 28, springs 30, roosters 4, turkeys 38, spring ducks 15 to 17 cents, selling price points listed for various categories.
Blue Monday held Wall Street steady despite a high volume of new yearly lows. Heavy losses appeared in U S Steel, General Electric, and other majors while Rio of late day selling trimmed gains as traders awaited the pending repurchase bond issue and further news on steel and price adjustments.
U S Steel hits a year low while bonds stay unsteady. U S G governments improve. Curb market weak with Transamerica down three points. Foreign exchanges firm as French franc climbs. Cotton down on July liquidation and good weather. Sugar steady with Cuban support. Coffee up amid steady Brazilian market. Chicago Wheat firm with Canadian drainage reports. Corn firm with smaller visible supply. Cattle weak to lower and hogs steady.
Chicago June 9 grain prices show early gain as reports of persistent rain shortage hit the spring wheat belt. Wheat holds near its opening limit while corn and oats trend up. corn moves about 2 cents higher and stays near opening figures.
Foreign exchanges show irregular demand with Great Britain at 4.35 11-16 in dollars and other nations listed in cents. The report covers France, Italy, Belgium, Germany, Norway, Spain, Greece, Brazil, Tokyo, Shanghai, and Montreal with varying quotes.
Hogs 52 000 head with 22 000 direct and 10 to 15 points lower, butchers and medium to choice hogs 250 to 300 pounds fetch 9.75 to 10.25, 160 to 200 pounds 9.90 to 10.50. Pigs 90 to 130 pounds 9.25 to 10.00. Cattle 20 000 head and calves 3 000 with early top 13.46, steers 1300 to 1500 pounds 11.75 to 14.00, 1100 to 1300 pounds 11.25 to 13.50, 950 to 1100 pounds 11.00 to 13.50. Wealers 11.00 to 13.00. Sheep 12 000 head steady, native lambs 12.00 to 12.50, some 12.75, yearlings 10.00 to 10.25, fat ewes 4.00 down, lambs 12.00 to 13.00, ewes 3.25 to 4.76.
Potatoes in Chicago on June 9 show new stock at 2.62 with 20 old stock and no sales on old. New stock weak but trading fair as Southern sacked Bliss Triumphs and prices show minor movements around 75 to 3.85.
A dense list of closing stock figures for major U S companies and railroads. Names include Allied Chemical American Can American Car American Smelting Ref American Sugar American Tobacco American Woolen Anaconda Bethlehem Steel Canadian Pacific Chesapeake and Ohio Chicago and Alton Chicago Great Western Col Gas and Elec General Electric General Motors General Railway Signal Gillette Gold Dust Houston Oil Louisville and Nashville Miami Copper Missouri Pacific Montgomery Ward New York Central and Northern Pacific appear with varied prices and changes reflecting a broad market snapshot. The page also features miscellaneous ticker lines and a parade of names without narrative context.
Butter and eggs prices steady in Chicago trading. Butter volume 20,429 with creamer extras at 314 and standard 814. Eggs at 31,563 with steady values. extra firsts 224 and graded firsts 22. Current receipts 19-194 and storage packed firsts 23.
Four persons are believed drowned after an automobile plunged into a quarry one mile south of Loudertoo. Two women bodies were recovered, straw hats floated on the water, and tracks show the car left the road and dropped about 30 feet into the water.
State bank examiner Louis Buckner arrived in Mansfield to probe the Bank of Commerce and Trust Co in relation to a $98,949.90 alleged shortage tied to stock market losses. Guy Provost, ex vice president, is hospitalized for recovery and no charges have been filed yet. A $50,000 fidelity bond covers Provost. bonding agents will inspect the case.
New York sugar markets opened with no change in raw sugar and Cuban and duty free stocks at 3.27 delivered as buyers paused. Raw futures rose briefly on covering and Cuban exports to Russia but eased mid day, with activity tapering as tariff uncertainty kept buyers cautious.
Mr and Mrs W G Powell and daughter Joan and Harvey Powell returned home today after a brief visit in New Orleans.
Eighty people including many adults will be confirmed tomorrow at St Matthew's Catholic Church. Bishop Cornelius Van de Ven will preside with a solemn communion at 6 30 AM and mass at 8 30 AM before the confirmation service. The list of those to be confirmed includes Barbara Overstreet Margaret Morrison Magdalen Amman Elizabeth Block Catherine Monaco Kathleen Ralleigh Frances Savage Josephine Battagalla Mary Domino Clara Cornett Nellie Cicero Rosa Ditto Nina Cascio Lenora Aeroldi Elodie Seignier Rose Butler Mary Rachel Beverly Jones Molly Le Blanc Jean Stough Catherine Rivoire Eunice Lagrange Dorothy Smith Rose Fontana Mary Louise Zagone Frances Miano Margaret Fontana Rose Farace Frances Jeansonne Virginia Scalia Antoinette Danna Elizabeth Winnon Nadine Allen Marie Marks Louise Osterland Frances Roberts Madeline Buttitta Mary Devereaux Mark Turk Nolan Patrick Reardon Jim Cicero Robert O'Donnell Warren Wilkerson Daniel Cage John Kessler Walter Winterbottom Duffie Brown Walter Savage Anthony Buttitta Anthony Traina John Practer Francis Roberts James Linton Billy Stough Nattie Simmes James Thibodeaux Leo Ragland Joseph Rivoire Hubert Breard Joseph Costanza Joseph Hackley Leonard Accardo Benson Jones Joseph Sampagnaro Armand Ballard Nicholas Danna Claude Oakland Sam Vilanti James Guerriero James Gimler Edward Sullivan Joseph H Livaudais Mrs Opal Massart Mrs Eva Flacey Mrs Mary McCann Edward Betty John B Lanning Mrs Annia Lanning and Mrs Mary Wilkerson.
Two men remained in serious condition at St Francis sanitarium. Theodore Finkbeiner of 2810 Lee Avenue was hit by bricks from a 27 foot fall at Brown Paper Mill. O B Dyers suffered a deep chest slash. J A Beebe treated for scalp lacerations and multiple injuries. The knife wound may have been from a brawl over a card game. Tom Christy endured bruises. The incident occurred in a Brownville hotel.
A large crowd toured Camp Ki-Ro-Li as Scout troops from Hodge Mangham St. Joseph Monroe Bastrop Bonita gathered for the encampment. O B Morton, vice president of Ouachita National Bank, spoke on thrift and well being. The camp hosts a brass band and a flag ceremony featuring the Star Spangled Banner.
Edith Shoemaker a 20 year old pupil at a Los Angeles airport began flying lessons and after five hours and a half of instruction made a successful solo flight.
Washington June 9 Major Lytle Brown chief of Army engineers testified before the house flood control committee that the safety of New Orleans does not hinge on the Bonnet Carre spillway. Engineer John Klorer claimed the project rests on engineering fallacies and would prove inadequate. Brown favored an upper spillway with greater capacity to divert water, ensuring leeway for plan errors, and questioned Jadwin plan costs under 335 million dollars authorized by Congress.
Tom Adams opened a new cleaning plant at 506 Walnut street dedicated to ladies garments with modern machinery and steam finishing to prevent shrinkage. Experienced cleaners will run the plant, which accepts both cash and carry and delivery, and can also service men’s clothes at the 803 DeSiard street location.
The engineer was injured and several juvenile passengers were shaken up when a toy train at Auburn park amusement grounds jumped the track on a curved section. The incident occurred near New Orleans on June 9.
Harvey G. Fields public service commissioner to launch his bid for re election with a two station radio push from Shreveport. Speakers include Dr J G Taylor and Mrs George W Smith with Mary Miller as announcer followed by a nine fifteen to ten pm address to voters on KWKH.
Three New Orleans policemen were demoted today by Colonel I B Myers. Detective Charles Poretto becomes a doorman at the fourth precinct, Corporal James T Buddy Ford to traffic patrol, and Clerk Walter Jacobs moved from headquarters to the sixth precinct. They were cited for unbecoming conduct and disobedience of orders after a heated corridor argument over police pension legislation, despite warnings.
The Arkansas Supreme Court refused to review a writ of certiorari in the case of 63 year old W. Y. Howell, finalizing the denial of records from two sanity hearings and upholding the Pulaski county circuit court's decision to deny relief from the electric chair.
About 100 cars from New Orleans and Mobile attended the dedication of the new 1 million dollar toll free bridge over the Rigolets, marking a key link in the Old Spanish Trail. Gov. Huey P. Long and O. K. Allen spoke at the ceremony as the four hundred foot spans and draw span bridge opened near Ca nal street.
In Middletown New York rumors spread of a heat spell lasting two weeks as turtles lay eggs signaling warming conditions and potential hatchings.
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