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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 12, 1929
Page
14
Early declines gave way to demand driven gains in cotton markets as traders absorbed bullish consumption notes and rising activity. Prices ended mixed with October and December futures higher, while openings and session highs showed steady gains and futures closed with modest advances.
Associated Press reports narrow fluctuations in cotton prices as improved weather is absorbed and prices hold steady on news of heavy boll weevil infestation in the south and strong domestic demand. Midday settles show small net advances across futures led by January March and May contracts.
New Orleans June 12 Cotton starts higher on weather and mild demand but climbs slowly amid easing nerves over civil reports and possible rain. Weevil damage is rising, with the state plant board noting more pests than 1928 and similar to year end, while weather bureau cites favorable conditions. Short sellers thin out, some covering as a government weevil report due at 4 AM CST.
New York reports raw sugar unchanged at 3.46 for spots duty paid with no sales. Futures opened flat to firm on short covering, then eased as liquidation and selling emerged. Export data from Cuba shows production at 5,149,625 standardized units with refined withdrawal strong but market light. fine grain refined at 5.00 per unit.
Hogs 19,000 head with gains to 25 cents. top $11.40 for 180-210 lb pigs. Cattle 7,000 head with steers 1500 lb range 14.25 to 15.50, milk fed cattle 5.50 to 14. Yearling and lamb values mixed. lambs around 15.50 to 16.25. Fat ewes steady 5.50 to 6.50.
New York stocks showed dull trading with early declines tied to wheat, then a rally led by Alcohol, Public Utility and Railroad Equipment stocks. Gains appeared across American Water Works, Standard Gas, Public Service of New Jersey, and others while Sloss Sheffield hit a new low. Norfolk and Western surged while Atlantic Coast Line fell.
Chicago June 12 traders faced a heavy wave of selling orders as the wheat market opened down 2 5 8 to 4 5 8 cents and fell further before a late rally. Corn oats and provisions followed with declines and partial recoveries as the session progressed.
Cotton seed oil markets in New Orleans closed easy with several contracts listed. Prime summer yellow at 9.55, prime crude 7.75 to 8.00, with futures for January 8.95 and later months ranging from 8.60 to 8.95, reflecting steady demand.
Cotton market in Liverpool reports prices for various grades with American cotton included. Sales reached 8 000 bales and receipts 24 606 with 4 400 American. futures closed steady with July at 9.92 and May at 9.93 for settling outlook.
Butter prices rise with receipts of 10 486 tubs and creamery extras at 42 8 4 to 42 1 4. Standard quotes at 42 1 2. eggs fall with receipts 20 377 cases and prices for extra firsts 29 1 2 to 30 3 4, ordinary firsts 27 28 1 2.
W F Hyde was fined $25 or 30 days in jail after pleading guilty in district court to hunting squirrels out of season. Louvinia Scott pleaded guilty to selling whiskey and received a $25 fine or 30 days. she supplied the light linked to Van Houston's death. The judge cited special circumstances for a light sentence.
Alec Preajon, 19, fled the Louisiana Training Institute this morning. Local authorities were asked to watch for him. He is dark complected and wore blue overalls. If he stayed 30 more days, he would have been officially relapsed.
A ledger of closing stock prices lists American firms like American Telephone & Telegraph, General Motors, U S Steel, and Standard Oil along with railroads and mining companies. Values hover near historic highs and lows, highlighting shifts in sector performance and market sentiment.
Washington reports indicate Japan is expected to ratify the Kellogg treaty renouncing war, completing the original signatories. If approved, ratification must be deposited with the U S government before the pact takes effect and a presidential proclamation will follow. Secretary Stimson will send certified copies to all signatories.
Directors of the Cotton States league convene in Alexandria to discuss the Meridian franchise prospects. A Lake Charles delegation led by Moss Watkins and others met with Alexandria officials regarding transferring the franchise to Lake Charles. Frank Scott, league president, and eight club representatives are expected to attend.
City court scheduled a case involving Edna Otis and Will Hardy. Police Captain E. B. Clower and Officer Ed Harper detained the pair after a morning arrest. Hardy appeared disheveled, claiming Otis lured him into her home to rob him, while Otis says he visited uninvited and greeted her too familiarly.
A scattered OCR listing notes trades and last sale prices for Consolidated Can, Electric Power and Light, Lago Oil, Louisiana Oil and United Carbon. The fragment references stock activity and a 60 last sale figure, with several broken tickers and street-side notes.
Miss Lis Golabeiter of Austria won the Miss Universe crown and $2,000 from 34 American contestants and nine foreign entrants in Galveston. Irene Ahbery of New York was second and Dorothy Jean Davis of Massillon third. The Austrian is the first foreign winner in the pageant’s international era.
Senator Borah Idaho Republican urged immediate adjournment sine die if tariff revision is contemplated He supported restricting tariffs to farm schedules and said general tariff revision is likely not to conclude before the December session Watson Indiana Republican leader agreed Borah asserted readiness to vote for immediate adjournment
Chicago June 12 Poultry alive receipts two cars with fowls 28 28 1 2 broilers 54 36 springs 40 roosters 20 turkeys 22 30 ducks 17 20 spring ducks 28 geese 15 spring geese 25 reported in the market telegram.
Washington June 11 The house approved April 1930 as the census date as part of the conference report on the census bill. The report now goes to the senate for action. Rankin Mississippi opposed the original November 1929 date but backs the conference report with April.
George Parker, an employee of Hy man and Deas, sustained a serious left thumb injury this morning after striking a hammer against a member while performing duties. He was taken to St. Francis sanitarium for treatment.
Helen Caldwell and Evelyn Wager college graduates and pied pipers tour the country urging college girls to overcome fear and join organized women rat killers. They began five years ago with a statewide Virginia extermination campaign and continue promoting the effort in multiple states.
In Jackson one speaker described a long struggle waged with civic group sponsorship across 39 states Hawaii Alaska Mexico and Canada. He claimed rulers of the field showed no fear and declared a readiness to continue the work.
OKLAHOMA CITY June 12. Harry R. von Zimmerman once conductor of Budapest Metropolitan house orchestra now works in Oklahoma oil fields. He says he enjoys being a roustabout and that music and mechanics go together, with a master musician keeping a mechanical hobby.
The Iowan senator urged passage of the farm relief measure after the Senate voted 46 to 43 to insist on including the debenture provision. House action was tentatively set for tomorrow as Progressive Brookhart criticized administration forces following the Senate session.
Brookhart endorses a nationwide progressive strategy to back a progra m candidate in every congressional district and a progressive nominee for president. He argues the debenture certificates would be distributed to station concerns to prevent speculation and aid farmers, while Hoover calls the plan a subsidy that could ruin farmers.
The police jury moved to publish notice of intent to form road district No. 3 and after a set period will vote on establishing the district. If approved, an election date for bond issuance will be set. They also voted to call an election on extending a two mill parish maintenance tax to fund current finances.
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