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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 21, 1930
Page
10
New Orleans June 21 The cotton market opened 12 to 17 points down on weak cables and silver and stock declines, with July around 18.10 and December about 13.05. Late trading saw a rebound of 10 to 11 points as shorts covered, closing with net declines of 27 to 36 points and spots quiet at 12.81.
New York June 21. Cotton prices fell from recent rallies as favorable weather, weak Liverpool cables, and declines in grains and stocks prompted liquidation. July and October futures closed lower while spots remained steady to quiet, with middling at around 18.70 and near 13.95 for spots.
The New Orleans market reports renewed pessimism in cotton amid weak stock markets and selling by recent buyers. Weak cables and favorable weather weigh on sentiment while London cables note minimal active spindles since the Civil War. Corpus Christi reports first Rio Grande bale. overall outlook remains wavering until broader markets stabilize.
New Orleans June 21. Cottonseed oil closed barely steady with futures showing prime summer yellow at 7.10 and crude at 6.50 to 6.75. Month by month values listed: Jan 7.35 June 7.18 July 7.15 Aug 7.20 Sept 7.25 Oct 7.80 Nov 7.30 Dec 7.30.
USDA reports cattle prices in Chicago on June 21 with 500 head, heavy steers and yearlings down 50 to 75 cents, vealers steady, best heavies 12.76, heifer yearlings 11.00, fat cows 5.60 to 7.00, sheep 41 doubles late, lambs 12.00-12.25, hogs 8,000 with prices 9.00 to 9.66 for common weights, weaker week to week.
New York trading ends with a lower close after a sharp midday downturn and late bear covering. Major losses hit U S Steel Allied Chemical American Can Auburn Auto and others while bank interests see no panic and Mellons tariff remarks fail to steady markets.
Stocks slip with U S Steel and leaders hitting new 1930 lows. Bonds rise unevenly as rails and utilities gain. Electric Bond and Share sinks to a new low. Spanish peseta slips while cotton, sugar, coffee ease for holidays. Chicago Wheat weak with weekly weather outlook. corn follows wheat. Cattle steady. hogs down.
Chicago grain prices fell to new lows today amid stop loss selling. Wheat opened down and closed about 1 1 4 to 2 cents lower, corn and oats also declined with corn down about 1 3 8, oats off 3 8 to 1 5 8, and provisions dropping 12 to 60 cents.
Seventy five Chinese suspects were arraigned in Newark after raids on China town opium dens. A police and firemen operation shattered dens last night, confiscating opium and smoking gear valued at about 20000 dollars.
Chicago June 21 poultry summary shows quotes for alive fowls and birds by weight class. Trucks listed include 6 trucks with prices for fowls 19 springs 30 broilers 22 roosters 14 turkeys 18 and spring ducks 16 19 spring geese 20.
Liverpool reports spot cotton quiet with prices down across grades led by American good middling at 8.66 and 7.76 for mid degrees. Sales reach 2,000 bales with 100 American. receipts 1,000, none American. Futures closed barely steady with July at 1.22 and contracts through May at 7.26 for July.
New York June 21 foreign exchanges show easy trading. Quotations list Great Britain at 4.8511-16 in dollars, France 38.927-16, Italy 5.287-16, Belgium 13.95, Germany 28.834, Norway 26.754, Spain 11.64, Greece 1.293, Brazil 11.25, Tokyo 37.063, Shanghai 36.12, Montreal 100.063. Great Britain in dollars and others in cents.
In Chicago on June 21, the USDA reports potato prices at 77, trading barely steady with strong demand. Southern shipments of Bliss varieties topped at 2.75 to 3.00 per hundredweight, marking the best performance of the day.
Butter prices at Chicago on June 21 were 16 794 barrels, steady with no change. Eggs were 1 1/2 cents lower in unsettled trade, with various grades and current receipts values listed for new and storage stock.
In Rockmart Georgia a field scene with newspapers spread out beer bottles and an open air poker game preceded a triple murder Authorities say the setting may have been a setup three victims Cliff Jones Lige Harper and Earnest McCullough were found head down in a shallow well Five men including William Hulsey his sons Fred and Ray Hicks L E McCulloch were ordered held to the grand jury after a coroner report.
Eunice Pringle the young dancer who helped convict Alexander T. Pantages of assault has been subpoenaed to appear before a grand jury in Los Angeles. The panel investigates whether her accusation against the multi millionaire theatre owner was false amid an affidavit from Eugene Mozier claiming a frame up. Fitts and Pringle deny knowledge of Mozier and call his tale false.
Rear Admiral Richard E Byrd is feted again as he prepares for a Richmond reception following his polar expedition. President Hoover led the honors last night, awarding Byrd the National Geographic Society gold medal. The expedition members watched moving pictures of their ice pack exploits before heading to New York.
Rev. M. E. Weaver will deliver two sermons at Lock Arbor church tomorrow at 11 a.m. and 8 p.m. The schedule highlights a day of services led by the pastor.
Acting public safety commissioner Dr. Frank R. Gomila closed the Crescent theatre lectures titled Mysteries of Love and Sex Life saying the program was neither educational nor scientific. Dr. M Sayle Taylor vowed to seek an injunction against police interference.
A 19 year old socialite, Mrs. William D. Farley, was convicted of driving while intoxicated after her car collided with another as she returned from a bridge party on St. Charles Avenue. The court sentenced her to three months in jail but suspended the sentence on first offense. a $100 fine was also suspended. She was rebuked for kicking at an officer and poking him in the groin.
General Brown chief of army engineers submitted an adverse report on Amite River flood control in Louisiana to Congress. The existing navigation channel from Lake Maurecas to Port Vincent is 60 feet wide and 7 feet deep, but expansion is not justified. About 160000 acres along the river are flood prone, yet flood control costs at 200 to 500 dollars per acre would exceed the benefits.
The Baton Rouge chamber of commerce announced it is unalterably opposed to calling a constitutional convention. It argues the move is unnecessary costly generates uncertainty for industry and would harm business conditions.
The state department announces Edward B. Rand of Shreveport Louisiana now serves as vice consul in Arica Chile after previously holding the post in Valparaiso Chile.
In Wallace Idaho 32 defendants were found guilty today by a federal district court jury in the Wallace Idaho rum rebellion case concerning illegal liquor activities. The trial concluded with convictions against all defendants.
The highway commission inquiry reveals Senator Labbe pressing Fisher about car sales. Fisher acknowledges possible sales numbers, citing the purchasing agent Beasley and noting two to three requests, with a figure of 50 to 60 cars mentioned by the inquiry.
Testimony unfolds on shell purchases for the highway commission with references to shell reefs, oyster shells, and the Gulf Crushing firm. Questions probe whether officials and contractors profited from shell shipments and whether orders were fulfilled on De La Croix Road and other projects.
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