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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 14, 1928
Page
5
Market activity was mixed with late buying despite heavy rains in the sector. October contracts traded around 19.79 to 19.94, with overall volume about 42,400 tons and price levels near the prior close.
The New York cotton market eased early on unfavorably weather tips and a weaker demand outlook but recovered to end steadier. Futures closed up about one to two points with modest activity and spot prices holding firm as July and October contracts led the gains.
In New Orleans on June 14 cotton seed oil closed steady with primes and futures showing firm values. Prices listed include Prime summer yellow 9.45 and Prime crude 8.50 to 8.75, with futures for January to December from 9.55 to 9.95.
New York call money ease noted with high 6 low 5 1 2. Ruling rate s, closing bid 51 2. Time loans firm, mixed collateral 60 90 days 55 8 to 53 4, 4 6 months 5 5 8 to 6 3 4. Prime mercantile paper 4 1 2 to 4 3 4. Bankers acceptances unchanged.
The funeral for Mrs Laura E Jones widow of Dr Walter L Jones who died at a local hospital yesterday will be at the residence 905 North Third Street this afternoon at 4 o’clock Interment will follow in the old city cemetery. Charles Jason Smith 61 farmer died yesterday eight miles west of Monroe on the Ruston road survived by wife and a brother body sent to Alabama over an Illinois Central morning train today
Mrs. Charles Gill mother of Superintendent W. J. Gill of the Louisiana Training Institute died with services at the Baptist Church in Gilbert. Interment followed at Gilbert Cemetery. Active pallbearers included Charles Gill Monroe G D Thompson Lexington Ky W Johnson Shreveport W H Gilbert C H Lee Gilbert Lee Monroe R L Lee Monroe W C Rush Gilbert. Honorary pallbearers listed L Zien M C Townsend W B
Stocks rose early on June 14 with advances in oil copper gas and farm implement shares. Bear selling and profit taking trimmed gains as the session wore on while Atlantic refining jumped nearly 12 points and Gimble Bros hit a record high after expanding earnings. Total volume about 2.8 million shares.
The 1927 reduction in cotton yield per acre from known causes reached 38.5 percent. Boll weevil caused 18.5 percent of the loss, with moisture, other climate factors, plant diseases and other insects contributing smaller shares. The report tracks historical fluctuation since 1909.
Chicago grain markets opened lower with corn slipping past season lows for September and December. Wheat and oats eased while provisions held steady. No. 2 hard wheat traded around 142 to 143, corn No. 2 yellow near 101, oats No. 3 seed 59, rye 1254, barley 92. Lard 11.47, ribs 12.50, bellies 13.87.
New Orleans June 14 The cotton market showed irregular moves with a bullish tilt as May consumption rose 52 600 bales over April, mill stocks run 461 000 below a year ago, and 10 month consumption lagged by 76 000. Rain across two thirds of the belt and weevil reports weighed on sentiment.
Chicago June 14 active poultry market with steady receipts of 3 cars. Fowls quoted 22 1 2 cents per pound and spring varieties range from 25 to 38 cents with broilers at 28 430, 37 for spring broilers, and geese at 26.
Chicago livestock prices show hogs at 15.10 top for 250 pound butchers and 250-350 pound hogs around 9.20 to 10.10. cattle active with steers and yearlings up to 25 cents higher and loads of yearlings at 14.60. Slaughter classes list steers 1300-1500 pounds at 18.40-14.85, and fed yearlings and choice cattle 750-960 pounds at 19.60.
J C Miller, a lone resident living on the west bank of the Guachita river opposite Carolina avenue in Monroe, reports two men tried his door at 1 a.m. He challenged them from the doorway and they fled, leaving him unarmed but confident. He keeps no money, saying a burglar would gain little from his one-room hut in the river thicket.
J Arthur Smith president of the Louisiana Training Institute board W J Gill superintendent and Charles Schulze former city judge left by train for Baton Rouge to appear before the appropriations committee. They aim to determine the institute's needs for the coming two years.
In Kansas City on June 14 the four Hoover opponents known as the allies agreed to have their names placed in nomination despite likely defeat. Watson, Goff, Curtis and Lowden chose to proceed with their original plan and present themselves before the convention.
Butter prices rise with receipts 13,960 tubs and creamery extras 43. standards at 42 1/2, extra firsts 41 1/2, firsts 40 1/2, seconds 37 1/2. Eggs higher with receipts 20,470 cases. Firsts 28 1/2, ordinary firsts 26 1/2, storage packed extras 30, firsts 20 1/2.
Liverpool, June 14. Cotton in fair demand with higher prices. American grades lead with strict good middling at 11.81 and good middling at 11.51, sales total 6,000 bales including 6,200 American.
Baton Rouge reports W R Mercier, longtime assistant director of LSU extension, has been named acting director to succeed W R Perkins, who was asked to resign by the board of supervisors.
Louis Fox city sanitary officer filed a bill of information against O A Morgan of the Morgan and Lindsey store on DeSiard street for permitting trash waste paper and offensive matter to collect in an alley inside the corporate limits. W M Veach named a witness. Morgan was notified to appear in court this afternoon to answer the charge.
In Kansas City on June 14, the Republican National Convention faced farm relief disputes in public view as leaders pushed toward nominating Herbert Hoover. Delegations from Massachusetts and others waved state standards while cheers rose for Hoover, signaling strong support amid platform debates and delays.
The New York convention narrows to Hoover with near two thirds support on first ballot, while rival camps led by Lowden Curtis Watson and Goff weigh whether to enter their names. The platform committee includes Borah's bone dry pledge urging strict prohibition enforcement, a change from four years ago amid a late committee fight.
At Kansas City on June 14 the Republican platform drew protests from McNary Haugen supporters La Follette Wisconsin followers and moister elements. Senator Smoot read the plank on party principles while Butler Butler and La Follette voiced opposition to relief terms prohibition and the 18th amendment as part of separate platform proposals.
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