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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 13, 1930
Page
21
New Orleans market shows nervous, erratic trading as liquidation dominates. July drops to 14.06 early, recovers to 14.25 amid weekend weather forecast, then slides to 14.01 after mid-session. October falls to 13.58, rebounds to 13.73, and ends near 13.99 with a steady close. Exports total 13,816 bales for the day and 47,709 for the week.
In New York on June 18 Associated Press reports early declines in cotton were followed by modest weekend rallies. Demand remained non-robust and prices eased as favorable weather and crop prospects tempered activity. Mid-afternoon trades were barely steady with July around 86 points gains and later months 20 to 25 points, futures closing 28 to 28 points lower. Spot prices eased to middling 14.50.
New Orleans June 13 Cotton weakened on renewed July liquidation ahead of first notice day. Poor weekend figures and warm weather spurred bearish sentiment though Farm Board brokers bought July to check selling. Hester’s Liverpool and spinner figures were subdued. overall sentiment remained bearish.
New Orleans seed oil market closes steady with Prime summer yellow at 7.55 and Prime crude 6.75 to 6.87. Futures show January 7.60, June 7.85, and months July through December ranging from 7.43 to 7.56.
Call money remained steady at 2 1/2 percent through the day. Time loans eased with 30 days at 3 percent and 60 to 90 days at 3 1/4 percent. Four months 8 1/4, five to six months 8 1/2, prime commercial paper 8 1/2, and bankers acceptances unchanged.
NEW YORK June 13. Foreign exchanges steady with Great Britain at 4.85 11 16 dollars per pound and France at 3.92 3 8, Italy 5.23 1 2, Belgium 13.95, Germany 23.84 1 2, Norway 26.75 1 2, Spain 11.85 1 2, Greece 1.29 38 8, Brazil 11.25, Tokyo 49.37, Shanghai 87.75, Montreal 100.01 9 16. Most rates shown in cents except Great Britain in dollars.
Hogs total 11 000 with 8 000 direct prices up 10 to 20 cents for medium to choice 250 to 300 pounds at 9.75 to 10.20 and 200 to 250 pounds at 9.90 to 10.30. Cattle and calves steady heavy offerings 1300 head cattle with steers 1300 to 1500 pounds at 11.25 to 13.25 and lighter grades 10.75 to 13.00. Sheep strong with good lambs 92 pounds at 11.50 to 12.35 and fat ewes around 3.00 to 3.25. Lambs 92 pounds down 11.50 to 12.35. Prices reflect mixed volumes and grade ranges.
Chicago June 13 potatoes 66 weak trading slow as southern markets sack Bliss Triumphs 2.50 to 2.75 per bag or ton varies by grade.
After two weeks of declines and a brief rally, stock traders showed renewed confidence with extensive short covering and hasty buying on the upturn. By midday losses were erased as sentiment remained unsettled. volume ran about half of yesterday. Major gainers included Eastman Kodak IBM and U S Steel while Allied Chemical fell then rebounded. Sales totaled about 2.5 million shares.
Stocks are irregular with American Telephone rallying after a new low. Bonds hold steady as foreign issues gain. Oils and utilities improve while foreign exchange rates show mixed signals. Cotton trends lower on favorable weather. Sugar and coffee hold steady on better spot and improved Brazilian markets. Chicago wheat weak on the Minnesota report and hedge selling. Corn eases on good rains in Iowa. Cattle steady with hogs firm to higher.
Chicago grain trends show quick rallies after initial declines. Wheat dips 1 2 1 cents, then recovers. corn, oats, and provisions firm with early down moves followed by gains. Wheat closes 1 7 8 to 2 1 2 cents lower. corn 3 8 to 1 cent down. oats 3 4 to 1 cent off. provisions mostly unchanged to 7 cents down.
A dense list of closing prices and tickers shows Allied Chem & Dye, American Can, American Linseed, American Locomotive, American Tobacco, Anaconda Copper, Bethlehem Steel, Canadian Pacific, General Electric, General Gas & Elec, Gulf Mobile & Ohio, Miami Corp, Reynolds Tob, Penney JC, Stone & Web, Tex Corp, United Carbon Certificates and other issuers. The data presents varied figures such as 291 for Allied Chem & Dye and 903 for Bethlehem Steel with numerous obscure markings and partial entries.
New Orleans traders reported light Louisiana okra at 4.00 to 4.50 per bushel while butter beans traded 2.25 to 2.50 and snap beans slipped to 0.50. Cabbage and peppers held steady amid dull squash, with tomatoes in liberal supply at 0.40 to 0.75 per 30 pound box.
Butter at 17 298, steady with unchanged prices. Eggs at 25 799, steady with unchanged prices.
Chicago June 13 poultry prices show alive stock in two cars and twenty three trucks easy, fowls 20 to 21, springs 28, broilers 22, roosters 1312, turkeys 18, spring ducks 20 to 21, spring geese 20.
Hammond Indiana resident John Graffart aged 60 threw bricks through store windows after complaining about the boarding house meals. He now stands trial on trespassing charges.
Washington June 13 Congress plans adjournment by July 4 with the tariff dispute nearing resolution. Senate to tackle rivers and harbors outlay over three years while veterans relief awaits postwar settlement. Deficiency bill funds emergency needs and may push adjournment to late next week.
Raw sugar prices open unchanged but firm as duty free holders resist low offers awaiting Senate tariff action. July to May futures rise, with July at 140 and May at 174. In separate item, Mrs R L Kellogg reports two Amodel Ford wheels stolen from her parked car in the garage on 1401 South Grand Street between 7:40 and 19:30.
Billie Dove files for divorce from film director Irving V. Willat in superior court Los Angeles alleging cruel treatment. The Associated Press report notes Edison backs Franklin W. Fort in New Jersey primary indicating support for a dry candidate.
Mrs Oliva Johnson president of the International Zonta clubs says women must learn to delegate and take leisure to compete with men in top posts. She spoke at a St Paul luncheon noting women are too conscientious and should master play and disagreement as business skills.
Washington reports historic Boston woke to Friday the 13th as Baltimore surpasses Boston in population for the first time since 1800. Baltimore reaches 789,921 residents, up 7.2 percent from 1920, moving to seventh place and pushing Boston to ninth with 775,729, up 3.6 percent, while St. Louis remains sixth at 817,334. New York and Chicago top the list.
The House adopted the LaGuardia resolution to form a five member special committee to investigate the conduct of Federal Judge Harry B. Anderson of the Western Tennessee district. Chairman Graham to appoint the panel, with Reps Hickey Sparks LaGuardia Sumner Browning named.
The Federal Trade Commission said it will resume its cottonseed price fixing inquiry in Atlanta on June 24 with public hearings. Washington sessions conclude today with Christie Benet of Columbia, S C, National Cottonseed Products Association, testifying as the panel probes whether oil mill operators lumber into cotton gin control to curb competition and depress farmer prices.
In Chicago on June 13 the 1933 World Fair will showcase a historic gas usage exhibit. It recalls the first American gas meter when illumination gas began and inspectors tapped windows to curb overtime consumption.
The Presbyterian church nears completion of plans to build a house of worship near William and Mary College after selling its current church building to restoration interests.
In Crestline Judge J Walter Wright upheld a $400 fine after George Vukovich’s defense claiming two barrels of mash and a still produced rubbing alcohol to ease his sick wife’s pains failed. The court rejected the explanation as insufficient.
Real estate in Ouachita parish with unpaid taxes will be sold Saturday starting at 11 am. City taxes will be collected first at the city hall, then parish and state taxes at the courthouse. Properties sold can be redeemed within a year by paying 20 percent above taxes and costs. after redemption period property goes to the buyer. Deputies expect a rush as payments cease at 11 and auctions begin.
Boston reports that passengers, not crew, saved the steamer Fairfax after a collision with the Pinthis. Forty seven lives were lost. Marine passenger Sergeant Harry E. Kipp of Minneapolis testified that cool heads among passengers prevented greater death tolls. He noted as many as 25 lives may have been lost due to panic. Dickerson N. Hoover and Captain Charles M. Lyons of the steamboat inspection service arrived to hear Kipp's account.
Adolph Stephens a negro about 5 was killed in Lafayette when struck by an automobile driven by Ned Bernard. Bernard, en route to notify relatives of the death of Dupre Bernard parish assessor, was cleared by coroner Dr M M Mouton who ruled the death unavoidable.
Secretary of State Stimson acknowledged receipt of a senate committee's demand for secret London naval conference papers but declined to disclose them. Chairman Borah said the issue is closed and the committee will reconvene Monday to report the treaty to the Senate next week.
New Orleans will use private funds to cover the next city payroll after banks refused credit following Governor Long's order. A group of wealthy citizens pledged ample operating funds, and Mayor Walmsley assured employees there is nothing to worry about for the payday set for Saturday.
Dwight E. Davis prohibition administrator for New Jersey sent 100 agents into Hoboken after publicity. The sweep raided 21 establishments including hotels saloons speakeasies and restaurants with 26 men and one woman arrested.
Dupre Bernard Lafayette parish assessor died at his home after a period of poor health. Elected in early 1928 he took office last year after years of service in the assessor’s office. He was 51 and a native of the parish. Funeral services were set for 5 p.m. at St John’s Cathedral with burial in St John’s Catholic Cemetery. Survived by his widow Ma vina Barras, three sons, and three sisters, all of Lafayette.
Oscar Perkins 42 of Pleasant Hill is charged with murder in the death of DeSoto county cattle buyer John L. Harbin. Harbin was wounded beaten robbed and burned July 11 1929 after his body was found the next day with a crushed skull. A pistol with Harbin initials was found in Perkins possession.
The infant child of Mr. and Mrs. A. P. Thomas, Grayling Jane, died in a local hospital last night. It was born on Tuesday. The interment took place this afternoon in the Mt. Vernon cemetery.
Mary seeks a breakfast outing with Philip Veritzen while Madge Underwood enforces strict chaperone rules. Tension builds as Veritzen hints at deeper motives and the narrator suspects espionage linked to a private detective. The scene ends with a promise to continue tomorrow.
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