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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 17, 1930
Page
12
The New Orleans cotton market opened slightly lower and rose through the day with July and new crop months swinging 9 to 30 points from the session lows. Gains faded into late trading with prices near highs before closing barely steady as exports totaled 1,586 bales. Spot cotton at 12.74, up .14.
In New York trading on June 17 cotton futures edged higher amid lighter offerings and active covering. Old and new crop months rallied with July around 13.79 and new crop months gaining 37 to 45 points though facing additional supply, while spot prices held steady at 13.55.
New Orleans reports a rise as Washington signals farm board backing for cotton and forecasts a stabilizing move. Traders took profits in the afternoon amid stock market unevenness and short selling. Senator Connally says the board may intervene if values fail to improve. showers temper the South and East while weather forecasts call for fair, warmer conditions.
In New Orleans on June 17, cotton seed oil closed steady with values for prime summer yellow at 7.10 and prime crude at 6.50. Futures listed include January 7.38 and ongoing months from June 7.95 to December 7.33.
Call money steady at 2 1 2 to 3 percent. Time loans mixed with 30 days 1 1 2 to 2 1 2, 60 days 2 8 4 to 3, 90 days 3 to 4, 4 months 8 1 4, 6 months 3 1 4 to 3 1 2. Prime commercial paper 3 1 2, bankers acceptances unchanged.
Chicago June 17 poultry prices show steady figures across categories with alive birds and cars listed. Fowls run 19 to 20 cents, springs 30, broilers 22, roost ere 14, turkeys 18, spring ducks 18 to 20, with sexing Eger 20.
The market showed a moderate recovery with no panic as large supporting orders appeared for pivotal shares. Major names like U S Steel General Electric and Westinghouse rose while Coca Cola Kodak and American Machine fell. total turnover reached about 4.75 million shares.
Stocks move irregularly with U S Steel leading a rally after an early dip. Bonds and convertibles show activity while curb listings rise on liquidation. Foreign exchanges mix with Canadian dollar in demand. Commodities vary with cotton firm and sugar easing. Wheat gains on export sales and dust storms in Canada. corn up on rain and light offerings. Cattle and hogs soften.
Chicago grain prices rise as Liverpool wheat quotations signal strength. Opening gains widen as corn oats and provisions advance. North American export business pegged as high as 4,000,000 bushels with wheat closing near the day’s top at 17 8 in Chicago.
A list of closing prices and notable movements for major industrials and rail firms. Companies include American Can, American Car & Foundry, Bethlehem Steel, Chicago & North Western, General Electric, General Motors, Kru, and Kennecott with varied endings. The data shows mixed gains and losses across sectors.
Chicago June 17 livestock market shows 31 000 hogs including 10 000 direct with demand weak 25-50 lower. cattle 7 500 and calves 3 000 very dull. sheep 8 000 fairly active with gains 25 higher on native lambs and good and choice ewes and lambs noted. Prices vary by weight and class across hogs cattle and sheep categories.
Liverpool market reports dull spot cotton with prices sliding across grades led by American middling at 8.40 good middling 8.05 and 7.75 for strict middling. Sales reached 3 000 bales with 1 100 American. Receipts 10 000 with 100 American. Futures closed steady with July 7 04 and through May 7 07.
Chicago reports slow trade in potatoes with dull barrels while prices show mixed moves. Southern sacked bliss variety cited with gains around 2.25 to 3.00.
Butter sales reach 23 083 pounds while unsettled prices stay unchanged. Eggs total 24 106 in stock with steady prices. Market notes reflect stable tone amid minor supply shifts.
Red Cross tabulation shows tornadoes in Minnesota and Wisconsin last Friday harmed 300 families and caused over 1 million dollars in damage. Seven dead and 56 in hospitals with serious injuries, 40 homes destroyed, 65 badly damaged, 100 barns destroyed, thousands of chickens and livestock killed. Residents urged to give 50 000 dollars to aid sufferers.
SHREVEPORT June 17 J H Kurth pioneer east Texas lumber man died yesterday at his home in Keltys Tex He is survived by four sons J H Kurth Jr Kurthwood La E L Kurth Keltys Tex lumbermen Roy Kurth Lufkin Tex banker and Melvin Kurth Houston Tex lawyer
United Press reports the Treasury net balance on June 14 stood at 60,635,757.08 dollars. Customs receipts for the month to that date totaled 19,114,887.08 dollars.
New York June 17 foreign exchange irregular. Great Britain demand 4.85 5-8 dollars per pound, France 3.92 1-4 francs per dollar, Italy 0.23 3-8 lire per dollar, Belgium 13.94 1-2 francs, Germany 23.84 1-4 marks, Norway 26.75 1-2 kroner, Spain 11.65 1-2 pesetas, Greece 1.26 5-16 drachma per dollar, Brazil 11.80 reis, Tokyo 49.45 yen, Shanghai 36.75 yuan, Montreal 100.019-16 cents per dollar.
The Rev. Thomas L. Atchison of Lawrence, Massachusetts, was chosen moderator of the United Presbyterian Church of North America during the Des Moines convention.
A murder charge was filed today against 35 year old Robert Slater in the fatal shooting of 22 year old Curly Treadwell. Slater surrendered to the sheriff after claiming Treadwell broke up his home and he fired as he drew a pistol. no pistol was found on Treadwell's body.
Chicago June 17. Mrs Lottie Brenner Dechow widow of Nathan Brenner once dubbed millionaire alderman faces new danger after burglars stole divorce case papers from her Sheridan Road mansion while she was away. Police seek Henry Dechow on a false affidavit charge connected with a Crown Point Indiana license to wed. Previous crimes include jewel thefts worth 50000 and a gunfire incident at the mansion.
Raw sugar remained unchanged with no new sales. Liberal duties on spot offers at 3.83 supported futures, which opened 2 points lower to 1 point higher as covering and outside buying continued. Refiners raised to 4.60 for fine granulated, one at 4.70, while overall demand stayed light and buyers remained cautious. Approximately 66,000 tons were sold.
Washington June 17 The committee of the month for June an advisory group of outstanding men will be appointed by President Hoover. It will be fifteenth such body to be established and will review proposed sale of shipping board lines and aid in shaping shipping policy. One member H G Dalton of Cleveland has been appointed.
Washington June 17 President Hoover looked forward to a comfortable treasury surplus at the close of his first full fiscal year. Income tax receipts and foreign government payments to reduce debt support the estimate. Treasury officials stopped short of exact figures but indicated the surplus could exceed $100 million. A total cash payment of $117,114,598.24 was received from thirteen governments, typically in securities to reduce the public debt.
In Batesville Arkansas on June 17 Justice of Peace Evans ruled Earl Nuckolls acted in self defense in the killing of his brother in law Jesse Barber 35 of Cord after Barber killed Nuckolls estranged wife and wounded the defendant A preliminary hearing lasting about ninety minutes found the motive an attempted reconciliation led to the fatal confrontation at Nuckolls home near Cord
United Press reports federal prohibition agent P. L. Flinchum killed and three officers wounded in a pursuit of a liquor laden car in Herm an Park Goldsboro North Carolina. Flinchum 83 died from gunfire while H V Andrews 41 of Wilson was wounded in the arm and leg as their car crashed. B A Dale and F E Street of Raleigh were injured by flying glass.
Mrs. Grant Wicktrom of Pass Christian area sued L. and N. railroad after her son Ben 21 was killed when his car was struck by a Gulfport train on January 21 1928. She was awarded 4500 dollars in federal court.
WASHINGTON June 17 Interstate Commerce Commission examiner W E Tytus president of Sunday Creek Coal Co Ohio testified that southern coal destined for the Great Lakes faces unfair freight rates. He said northern operators lose money due to southern competition and that a 35 cent per ton differential is insufficient. He presented a schedule with data from West Virginia Kentucky and Tennessee mines versus northern coal rates.
The report notes mines under his control ran at only 60 percent capacity in June each year while reaching 85 percent capacity in December. The slump in summer was blamed on the loss of lake cargo business.
Frank Ransom of Aberdeen addressed the Mississippi Association of Insurance Agents at their 32nd annual Biloxi convention. He urged repeal of the valued policy law and strict agent qualification, and creation of a high privilege license for local agents, warning that proliferation of agents harms future insurance stability.
The funeral for Mrs. Mattie Mc Farlin aged 79 was held at 2 pm at her daughter's home on M Street with Rev. D C Barr officiating. Burial followed in Red Hill cemetery Met Rouge. She leaves five daughters C P Hartley Monroe Ida Clark Mel Rouge Lon Morsworth Greenville Texas J A Laughlin Oklahoma City and two sons Robert Monroe Leon Bastrop.
M. N. Hart, 66, died from injuries in a Sunday car crash near Corry. Funeral held at 3 p.m. today at Faulk's cemetery near Tallulah. Survived by wife Drew and Roy Hart of Bosco, Mrs. Worley West Monroe, Mrs. K. D. Lenard, Mrs. Millard Morris of Bosco, two sisters Mrs. S. Hall Darnell and Mrs. Mary Knox Colfax.
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