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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 19, 1929
Page
8
New Orleans reports an easier open followed by a moderate rise as a weekly weather summary suggests conditions would not check weevil activity and the Mississippi plant board flags activity. July and October futures firm with gains near the close amid steady to higher quotes and export demand.
New York stock session shows irregular prices after fears of overbuying from recent sharp advances. Pools traded cautiously to avoid sharp moves while bear traders increased activity. Some issues hit new highs and several stocks advanced on merger rumors, but overall market breadth remained uneven with notable gains and losses across key names.
Cotton markets in New Orleans and New York showed liquidation in July and a late firming trend after weevil reports. Weather bureau notes unfavorable conditions for weevil control with showers across Oklahoma Texas Louisiana and the eastern belt and forecasts of more rain. Weevil infestation rose to 73 percent of fields in Mississippi State Plant Board findings, while private reports from LA AL AR signaled higher activity. Trading shifted from July to October as traders weighed possible July liquidation and the unsettled weevil outlook.
Chicago June 19 poultry market receipts show 4 cars. Fowls 25 to 25 percent. Springs 38. Broilers 34. Roosters 20. Turkeys 22 to 30. Ducks 17 to 20. Geese 15. Spring geese 25.
Mrs. F A Landerman aged 74 of Landerman Louisiana died Monday. Born Nan mie Rice in Jackson Mississippi she taught school before marrying a planter and had one child Allan ce Landerman who preceded her. She was a Baptist and funeral services were led by the pastor with many mourners from Shreveport Jackson New Orleans Columbia Monroe and West present.
Stocks were irregular with Brooklyn Union Gas up 15 points. Bonds steady as telephone convertibles traded heavily. Curb market irregular as utilities rise. Spanish pesetas fall. Cotton steady amid weevil fears. sugar easier from spot offerings. Coffee barely steady with European buying. Chicago wheat firm on stronger export demand. corn higher on predicted rains. Cattle dull and lower. hogs firm.
Wheat opens near yesterday's close and climbs with a general advance as traders weigh proposed operations under new federal marketing legislation. Oats and corn firm, with corn turning from unchanged to gains. rye and soybeans show mixed moves in offbeat price ranges.
The report notes a 130 percent shift in market sectors and trends in trading activity. Analysts cite volatility in commodity prices and sector rotation affecting intake and asset values across multiple exchanges.
New York and New Orleans report cot tonseed oil closing steady with values for Prime Summer Yellow at 840 and Prime Crude 750 to 775, plus various futures such as Jan 890 and Dec 885. In Vatican City a Papal State milestone notes the birth of Pio son of a Papal servant as the first baby in the new regime.
Raw sugar prices held at 3.58 for spots duty paid with light demand and minimal sales of Cuban cargo for July to an outport refiner. Futures traded lower on heavy liquidation while duty free and refined prices remained mostly unchanged with refiners listing at 4.85.
Hogs 15060. early trade up 10 to 150. Butchers medium to choice 250-309 lbs 10.70 to 12.5. Cattle 7000. calves 2500. general trade slow. Steers 1300-1500 lbs 14.25-14.75. 950-1100 lbs 14.25-15.75. Yearlings 750-950 lbs 14.00-15.50. vealers 15.50-15.75. Sheep 9000. lambs weak to lower 14.50 down. yearlings 12.00-12.26. good to choice 14.25-15.50. Ewes 6.50-6.75. feeder lambs 12.50-13.50.
Liverpool cotton markets show steady to softer tones with American grade sales totaling 4,560 bales of the 7,000 bale total. Receipts run 9,090 bales, including 200 American. Futures close quiet and steady with July at 992, October 629, and December through May unsettled.
The weekly weather and crop report for the week ending yesterday notes mostly moderate temperatures in the cotton belt with near normal weekly averages and light to moderate rainfall. Louisiana shows adequate warmth and sunshine aiding cotton conditions, while other states report generally good progress and growth with some wet areas and grassy fields in need of attention.
Chicago market notes show butter prices easing with receipts totaling 12 071 tubs. Creamery extras reach 42 3 4, standards 42 1 2, extra firsts 41 3 4 to 42 1 4, firsts 39 1 2, seconds 48 A39. Eggs unchanged with receipts of 16 771 cases.
Gov Huey P Long accepted the resignation of John L Madden of Homer from the Louisiana House of Representatives representing Claiborne parish. The notice dated June 19 reports Madden leaving the post.
Senator Cope land of New York urged the senate to consider a remedy for what he labeled outrageous killings by government agents in his state. He spoke today in Washington on June 19.
The Sig and Herman Masur theater building at 400 DeSiard Street was accepted at noon after inspection. Costing $20,000 and completed yesterday, the Spanish architecture venue seats 676 and will open formally within days under Pine Bluff management.
Two relief wells will be drilled near the crater created by the Boykin No. 1 well in section 20-17-6 east as part of efforts to control the North Louisiana Gas and Oil company site. Ground operations are underway with active drilling to reduce gas pressure and gain control after the well became unmanageable.
Downsville notes several visitors and callers including U S Sartar of Alto visiting relatives, James Richardson of Monroe visiting his grandparents, and Cleo Hale of Tecumseh visiting his parents. Others from West Monroe Monroe and Delhi called on residents as Rev. Rockett conducted a service and visitors from Mexia and Ruston joined local families.
Westbury New York June 19 plans to bar low flying planes from Roosevelt Field neighbors by building a 125 foot high and 2000 foot long fence to stop plane annoyance after planes have run on greens and flown low.
In Benton Louisiana Judge Harmon C Drew hears a second supplemental petition challenging the 1921 recall law Act 121 as unconstitutional for not including State Legislature members. The suit seeks to halt certification of recall petition signatures against Representative W Clark Hughes and could influence other recalls statewide.
An intense six day heat wave wrings the eastern states with higher temperatures than yesterday. New York City reports 93 degrees, Newark warns water shortages as six deaths from heat occur in New Jersey. Philadelphia hits 84 degrees as the day’s peak.
Mrs Edwin Carewe formerly Mary Aiken reveals on arrival from Chicago that she and her husband, screen director, were remarried last Sunday after an 18 month separation. She intends to buy a gift in Paris for Delores Del Rio, who desires it.
Jackson, Mississippi reports that a transcontinental air and rail passenger service will connect the West, New Mexico, Texas, Louisiana to Jackson and on to Birmingham, Atlanta and New York. Texas Air Transport plans immediate service from Fort Worth to Jackson and Atlanta via Birmingham. Aviation Corporation of America officials confirm a New York to California air route including Jackson. Regular service to start within a week.
Wilmington state police nabbed Davis McDonald Wallace after he landed in a wheat field with two passengers. Since state law did not cover the offense, authorities turned him over to federal officials.
Kiwanis members will gather on the Hotel Monroe roof next Monday at 7 pm with Mrs. J E Doughtie as guest. The event features the international Kiwanis president via radio hookup and invites members wives or lady friends to attend. A refined program, plus two saxophone solos by Ernest Guy at a noon luncheon, is noted.
The program lists talks and presentations at Gretna Louisiana with Rev L R Sheltd and P E O Seller, L T Hastings, Dr C Cottingham, Mrs T E Stephenson, Mrs W McClendon, Rev T Gayer. Sessions cover institute work, needs, education, junior college role, and music by the Louisiana Baptist Children's Home.
In a June 1929 Mont Louisiana meeting at City Hall Monroe the City Council read minutes from May and June sessions and unanimously adopted a resolution. It appropriated fourteen thousand dollars to pay weekly payrolls and related expenses, authorizing the treasurer to issue warrants. Mayor Arnold Bernstein presided with P A Poag as secretary.
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