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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 20, 1935
Page
9
New Orleans trading closes steady with futures up 3 to 9 points on gains from higher ginning tax. July and other months recover to near prior levels as exports reach 37 070 bales led by a 26 476 bale shipment from New Orleans. Spot cotton closes 8 points higher with sales 119 and stock at 374 563.
In New York on June 20 the cotton market was quiet with a soft early decline, then steady. Futures closed unchanged to 9 points higher, trading around 11.19 for October after a dip to 11.14 and rally to 11.24, with spot prices steady near middling 11.90.
Cotton futures closed steady with July at 6.28 and December at 5.91. Spot quotations show slight declines across grades with American good middling around 7.28 and low middling near 6.43, reflecting a subdued demand in Liverpool on June 20.
New Orleans notes cottonseed oil closed steady with values for prime summer yellow and prime crude within narrow bands. June through December bids and months show slight variations. New York futures closed firm with July 10.18 and September 10.17 plus further futures around 10.15 to 9.96 for year end and 1.96 for January.
Sugar futures were quiet but firm in New York with July No. 3 rising from 2.33 to 2.35 and December advancing to 2.43. Late-session prices stayed near the day’s highs as July, Sept, and Dec contracts posted modest gains and total sales reached 13,150 tons.
Call money steady at 1 to 4 percent throughout the day in New York trading. Time loans show 60 to 90 days at 1 to 4 percent and 4 to 6 months at 1 to 4 percent. Prime commercial paper remains at 3 to 4 percent, bank acceptances unchanged, and the New York reserve bank rediscount rate sits at 11.5 percent.
News brief items list 24 hour stage changes and rises or falls at stations on the Mississippi Ohio Tennessee Cumberland Arkansas and Red rivers. Key readings include St Louis Cincinnati Nashville Little Rock Shreveport and Vicksburg with rises in several basins and a fall noted at some sites.
A selling wave unsettled the New York stock market on June 20 as investors weighed the president’s share the wealth tax plan. After an early drop, modest support appeared for scattered issues with declines in leaders like American Can and U S Steel, while grains and commodities also fell. Transfers totaled about 970,000 shares.
New York and Chicago led a day of uneven results with stocks heavy and a dull recovery. Bonds irregular, rails soft, curb and specialties down while foreign exchanges steadied and cotton and coffee held firm or quiet. Wheat firm in Chicago amid harvest weather, corn up on acreage news, cattle steady, hogs up to 9 80 with bullish leverage.
Chicago grain prices opened lower with declines in cotton and securities, July wheat down to 79 1-4, corn near 80 1-4, oats up 3/8 to 3/4. Wheat finished steady from yesterday, July at 80 3/4 to 81/2, corn up 1/8 to 5/8, oats 3/8 to 3/4 higher, provisions varied 15 cents down to 5 cents up.
Chicago livestock prices show hogs at 5 to 15 higher with 9 000 head and pigs 875 down in most lots. Cattle and calves steady to weak with vealers up to 9.00. Sheep and lambs steady to strong as slaughter figures read 7 000 cattle yearlings and spring lambs, with native ewes 2.00 to 3.25 and spring lambs 7.25 to 8.50 for good and choice sides.
Foreign exchange steady with listed rates for Great Britain France Italy and several nations. Quotes include demand and cables for currencies plus regional references such as Tokyo Shanghai Hongkong and Montreal with nominal indicators.
Butter totals 17 798 pounds with creamery specials at 23 1 4 to 3 4 dollars per unit and extras at 22 3 4 dollars. Firsts and seconds vary by grade with standards at 23. Eggs remain at 23 012 units and steady with prices unchanged.
Chicago June 20 poultry market prices shown for live birds and meats. Hens 5 pounds and under ranged around 17 1 2 to 33 trucks.. Leghorn hens and rock fryers priced with varied weights including 14 to 23 cents per pound. Turkeys and ducks noted with several weight figures.
The New Hampshire agricultural extension service provides a free leaflet with 13 games to play while traveling, helping tourists enjoy their visit in Concord.
Democratic leader D. Young of General Electric argues holding companies are useful to group utility firms, reduce power costs, improve service, and diversify investment risk. He cites testimony before a Senate subcommittee and warns against abolition due to abuses, emphasizing correction over elimination.
Chicago reports mixed potato markets with Wisconsin round whites at 35 cents per cwt and Idaho russets around 1.10 to 1.30 per cwt while other regions show steady or decaying values and ample supply. A Bordeaux wine makers group seeks a law making wine compulsory with every restaurant meal.
Louisiana Highway Commission invites proposals for State Bond Project 4609 A Brown Paper Mill Inter Section Routes 200 and 1295 in Ouachita parish. Bids due 9 45 am July 3 1935 and opened 10 am the same day in Baton Rouge. Plans cost 4 50. Harry B. Henderlite state highway engineer. A P Tugwell chairman. Stray notice: a 300 pound dark brown dehorned cow seven years old taken up May 30 1935 near Stevens Ouachita parish. Sale by auction June 22 1935 for costs and charges cash with appraisal to highest bidder. J H DUMOS Monroe La. June 11 14 20 1935.
Lot 31 of Jordan Court Subdivision Shreveport Louisiana sale subject to mortgages First Federal Savings and Loan Association records Caddo Parish and liens. Also notice of application for letters of administration Succession of Frank J Turk Sr Ouachita Parish Fourth District Court show cause within ten days. Filed June 19 1935. J T Shell D I Garrett judges. Leon H Pooser deputy clerk Milton Coverdale sheriff.
Lost and found notice seeks a solid red hound about a year and a half old named Red. Reward offered. Contact J. M. Harrell at phone 2020. Also a memorial verse for Jerrell Gray dated March 17, 1935, and an advertisement for lawn mowers sharpened for 50c at 401 Stone Avenue.
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