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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 21, 1928
Page
9
The Cotton market rose with short covering and strong buying in New Orleans and New York on unfavorable crop reports. July touched 21.21, October 20.93, December 20.90 as spot and futures firmed. Exports reached 13,417 bales. spot closed 25 points higher. notable activity across months and openings listed.
The New York cotton market maintained firmness with October contracts around 21 1/2 cents amid mixed selling. Midday gains of 30 to 34 points were largely offset by realizations, futures closing barely steady 12 to 16 points higher, spot at 21.65.
Unseasonably heavy rains in the northwest and widespread crop reports bolster cotton buying as 800,000 acres in the southwest suffer from blight. Weather officials predict general showers nationwide, with high Texas panhandle temperatures and hot winds. Market sentiment leans higher if price spreads extend eastward, despite unfavorable crop news from most regions.
Chicago markets report hogs at 39 000 head with steady to firm tone after an opening rise. Cattle and calves show modest gains with grain fed steers and yearlings in demand while grass cattle remain selective. Sheep and lambs trend higher on fat lambs and lighter native sorts, with lambs around 15 1/2 to 17 1/4 dollars and heavier weights under pressure.
Liverpool reports spot cotton prices up 21 points with 5,000 bales sold, including 4,000 American, and receipts of 2,000. Futures closed steady with July 11.26, October 11.11, January 11.02, March 11.01, May 11.00.
Stocks showed fluctuating sentiment with small daily volume as shaky money rates kept upward moves in check. Early losses narrowed, rails led gains in late session while American Locomotive and American Car and Foundry recovered on a dividend reassurance, with total volume near 1.7 million shares.
Chicago grain mixed after rust found in Mitchell County wheat fields prompts a modest rise in wheat values before prices eased. Corn oats and provisions moved lower or steady with small shifts across futures quotes and spot prices for various grades and seeds.
In New Orleans on June 21 the cotton seed oil market closed firm with quotes across contracts: prime summer yellow 9.60, prime crude 8.50 to 8.75, and futures for January through December ranging from 9.68 to 9.99 with several 9.9XX levels.
Texas Gulf Sulphur company projects its sulphur deposits will last about 50 years based on a consumption rate over 1.999 million tons annually. The firm expanded in Boling Dome with Sun Oil leases, adding to Matagorda as a major producer alongside Freeport Texas. In 1926 the company issued 2,540,000 no par shares, boosting capitalization. Net income in the last year reached 12,099,000 dollars, or 4.76 dollars per share, up from 9,384,000 dollars or 3.49 per share the prior year.
New York June 2 Liberty bonds closed with small shifts as Liberty 3 1-25 at 100.8 and Liberty 1st 4 1-48 at 191.16 show gains while Liberty 3rd 4 1-48 at 100.2 and Liberty 4th 4 1-45 at 101.20 remain near prior levels. Treasury issues also moved with 4 1-45 at 113.19 and 4s at 108.146.
Butter receipts reached 9,464 tubs while egg receipts totaled 19,268. Prices for cakes and storage items showed gains with ranges noted around 28 to 31 cents for various grades and firsts.
Poultry firm on June 21 saw steady activity with two car receipts. Leghorn hens ranged 161 to 2017, spring broilers 2, springs cucks 20826, spring meese 22. Read Monroe News Star classified ads for results.
Bobby Jones fired a 73 in the opening round of the National Open, finishing two under par and tying for second behind leaders Leo Diegel and Bill Leach. Jones, backed by about 3000 spectators at Olympia Fields, showed superb putting and steady ball striking, despite a rocky start. Johnny Farrell shot 77 after a disastrous opening nine, while Fred Morrison stood one over on the day.
The American Association of University Women will hold its biennial convention April 10-12, 1929 at the Roosevelt Hotel in New Orleans. Miss Mary E. Woolley, president, also of Mount Holyoke College, announced the meeting and named the New Orleans branch as hostess for a program of events expected to draw many delegates. The location was chosen by the executive committee at the Washington national headquarters.
Cardiff dispatch reports Mrs. Mary Hughes, claimed original Mary of the nursery rhyme, turning 80s and sharing views on modern girlhood. She remains vivacious despite near blindness and rheumatism, noting today’s youth as sporting and tolerant of elders while urging longer skirts and uncut hair.
The Boston Airport installed a 5,000 watt night light costing $1,500. It runs on 110 volts, costs about 43 cents per hour, and illuminates a 1500 by 1000 foot area. The 170 pound lamp stands four feet high and gives pilots a safer night landing.
President Coolidge pinned the Congressional Medal of Honor on Lieut C Frank Schildt U S M C for evacuating eighteen wounded marines from a narrow Quilali street in Nicaragua under withering fire from Sandino forces.
Police halted an attack as Baron Tanaka entered Tokyo Station. Shingo Okamura, a merchant, rushed the statesman with a knife and was seized by officers before harm could occur.
Major Andrew Holt, a wealthy Canadian in the British cinema industry, owns a costs reputedly 100000 dollar air yacht built by Fokker. It features a bedroom and drawing room with armchairs and a work desk. Captain R H McIntosh is named as pilot, the aviator who attempted the Atlantic crossing last year in the Princess Xenia but faced bad weather.
In Waukegan Illinois on June 21 criminals posing as state officers swindled filling station owners by demanding slot machines. One proprietor chased the supposed agents after spotting a car with no license number and a gun was shown during the ruse.
William S. Culbertson of Kansas is named ambassador to Chile succeeding William M. Collier who resigned. Culbertson, former minister to Romania, will sail from New York for the post around July. A replacement for Romania will be selected from existing European ministers.
Shreveport reports the regular Louisiana Peers' school will convene at Centenary College July 9 to 20 for pastors and religious education leaders in the Louisiana conference of the Methodist Episcopal Church south. Dean Robert Goodrich will open services and present faculty, with the school run by boards of missions and education in cooperation with general boards. Executive board includes L A Turner, Dr W W Holmes, Dr Robert Goodrich, Dr Wo Nenba Rivereves, and Rev G A Morgan.
Baton Rouge June 21 Report filed with Dr W E Hin entomologist LSU extension division that boll weevils are extremely abundant in central and southern Louisiana cotton fields about to square. A moss sample average shows 365 live weevils per moss dollar examined in Opelousas Washington and Lafayette areas, one of the highest figures in four years said Hinds.
London reports England’s gum consumption rising 5 percent since 1922 with a 40 percent yearly surge in some estimates. A gum firm predicts selling 15 900 000 packets monthly in Britain. Royal interest noted as chewing grows amid attempts to curb smoking. In New York Babe Ruth hits his 26th homer of the season in the first inning as the Yankees tie the Athletics 2 2.
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