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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 19, 1940
Page
13
New Orleans reports futures edging higher on short covering ahead of July notice day Tuesday July 25. Closing prices steady, July and other contracts show modest gains, with spot cotton dull and unchanged for the day.
Stocks drifted with mixed signals as traders awaited word on France's capitulation and Hitler plans. About 600000 shares changed hands with rails leading a tentative rally while war stocks swung on expected terms.
In New York on June 19 cotton futures steadied and rose up to 70 cents a bale after midday demand from trade and Wall Street houses. Prices closed higher across most months, with July and July new at 10.58 and 10.52 respectively and middling spot at 11.14, up 11. The activity followed reports of price fixing for mill accounts and limited offerings.
Liverpool notes spot cotton quiet with prices up 14 points. Quotes show American grades from strict good middling to good ordinary and middling ranges. Futures close unchanged to 18 higher with July 7.28 and remaining contracts listed through May 6.65.
New York reports steady stock weights while rail shares hold firm. Bonds show mixed activity with foreign loans down. Swings in foreign exchange with Swiss franc rising. Cotton advances on trade and mill demand. Sugar soft as hedging and professional liquidation occur. Metals steady with scrap copper down 18 cents per pound. Wool tops firm amid Boston buying and short covering. Chicago sees wheat and corn higher while cattle gain up to 25, hogs steady to 10 higher.
In New Orleans on June 19 cottonseed oil closed steady with Bleach able prime summer yellow at 6.65 nom. and prime crude 5.00 to 5.25. July at 5.51b, Sep 5.64b, Oct 5.66b, Dec bid. New York markets also moved higher with July 6.00b and Jan 6.22b as futures rose 4 to 6 points.
Salable hogs 13 000 to 21 000 with steadier to higher bids than Tuesday. Top 5 25 with good to choice weights 200 275 lb averaging 5 00 20. Lambs steady with spring California doubles at 10 00 and 10 25. Cattle and calves 8 500 and 1 000 with fed steers bidding 11 10 to 12 00 and loads to 10 75. Sausage ball prices noted and dealer bids around 9 50 to 10 00.
Chicago session notes butter at 146 537 firm creamery 88 score 24 and unchanged across other butter grades. Eggs at 29 686 hold steady with no price changes. Market observers record steady demand and stable pricing amid light trading activity.
Chicago grain prices show fractional declines in early trading as markets await clarity on peace terms for France. July wheat falls to 171 2 5 8 and Sept to 18 173 4, while corn opens mainly unchanged to down. Wheat ends higher than yesterday, with July at 78 1 2 to 3 8 and corn up 3 8 to 5 8.
World sugar futures eased 2 1 2 to 3 points as hedge selling and liquidations met weak demand. July at 1.05 and September at 1.05 1 2. refined held at 4.50 cents. No. 3 and No. 4 contracts showed declines with mixed export sales and large totals.
Washington report notes a wartime focus on pests, with the agriculture department seeking funds to fight locusts, chinch bugs, pink boll worm, and foreign insects. Item lists specific moths and beetles, plus unregistered alien pests tracked by entomology and plant quarantine bureaus.
A small round wristwatch is missing from an address on the island. Reward offered for information leading to its recovery. Contact Mrs F M Curtin or W.R. Lew for details. phone 1406.
Rival delegations from South Carolina Idaho Louisiana and Mississippi challenge recognition by the Republican contests committee as the national convention nears. Alaska also involved in the disputes over seating at the GOP gathering.
Buenos Aires June 19. A bill in the Argentine senate by Senator Matias Sanchez Sorondo proposes expropriation of all foreign owned public utilities. The plan would authorize a government bond issue of 1.5 billion pesos to indemnify foreign concerns.
James Roddy, a traveling salesman, has attended every Golden Avalanche meet in seven years as the consistent inspector based in Milwaukee Wisconsin.
Potatoes arrivals 85 on track 305 and total U S shipments 792 with new stock and liberal supplies. Demand remains fair while prices are weaker with wide ranges by offering. California Long Whites U S No 1 2.00 2.20 per cwt. North Carolina Cobblers 1.50 1.90. Texas Bliss Triumphs 1.65 1.85. Arkansas 1.55 1.65. Alabama 1.70 2.10. Louisiana 1.65 1.75 per cwt.
Poultry live trade in Chicago reports 47 trucks with hens and springs steady to firm. Hens weigh 4 to 14 pounds, broilers under 21/2 pounds down. colored varieties sell around 16 to 17 dollars. Plymouth Rock and White Rock lines quoted at 17 to 24 dollars for larger birds. Other prices unchanged.
Lansing report says Charley Bachman, MSU football coach, discussed war with Sherman. Freshman QB Bill Milliken, who impressed in spring drills, was injured when an R O T C parade caisson rolled over his foot. Milliken suffered a fractured arch and may miss fall play.
Russell Hart of Helena compared to Paul Revere woke to a flooded basement as a sewer main overflowed and gas escaped. He shut off the gas and alerted neighbors by ringing doorbells, saving sleeping families from possible asphyxiation.
In the district court of Louisiana a receiver will sell at 1:60 a.m. on Tuesday July 2 1946 at the bankrupt's former business site in Ibi Parish Richland the stock of merchandise furniture and miscellaneous property owned by Victor Clyde McPhail. A bid of 26 percent cash plus balance on court approval will govern.
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