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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 22, 1928
Page
3
Cotton futures closed mostly steady with moderate gains amid steady undertone after early advances. Exports for the day totaled 4,482 bales with week sales at 76,216. spot cotton up 13 points and receipts 21.41. Jan 20.63. Mar 20.63. May 20.93. Oct 21.06.
New York AP reports continued nerves over the crop outlook as futures move higher on October contracts. October tests 21.67 cents with buying absorbing into forecasts of more showers across the southern fields, market closing steady with gains of 6 to 17 points and spot quiet at middling 21.80.
Cotton prices rose amid scattered rains from panhandle to Georgia and fears of weekend showers and weevil spread. Exports reach about 7.4 million bales with expectations over 2 million more before season end. Texas entomologist reports weevil infestation up to 16 percent in many areas. Trade buyers hedged or fixed prices while speculation grows on market uncertainty.
In New Orleans, cotton seed oil markets closed barely steady with prime summer yellow pricing at 9.50, prime crude ranges from 8.62 to 28.75, and several futures dates listed from January to December with values around 9.39 to 9.98.
F L Salisbury aged 44 years died recently. The burial is set for 4 o'clock this afternoon at Inut Grove cemetery near Eros.
New York stocks showed a listless full session with prices rising and falling but little driving news. Radio climbed then slipped while Pierce Arrow preferred jumped on merger hopes with Studebaker. GM faced selling despite dividend prospects. metals edged higher, while Airplane Tobacco and Express shares declined.
Chicago June 22 Wheat opened 1 2 to 18 8c higher and stayed near the early gains as Liverpool quotations supported prices. Corn, oats, and provisions firmed with corn up to 7 8c, while wheat closed 1 4 to 3 4c lower. No sales of wheat. various grain prices listed for corn oats rye and barley. lard and ribs also reported.
Liverpool reports spot cotton prices easing with American grades steady to lower. Prices range from strict good middling 12.15 to good ordinary 10.85 with 4,000 bales sold, receipts 13,000 including 4,700 American. Futures closed easy at July 11.25 and later months between 10.02 and 11.12.
Hogs 22 000. market active mostly 10c higher than Thursday. Top 10.90 for 200-260 Ibs butchers. Cattle 15 000. calves 1 000. mild weekly decline for grassy cows. Slaughter steers 1300-1500 Ibs 18.40-14.75. common 850 Ibs up. Sheep 6000. fat lambs steady to strong. feeders unchanged.
The Wheeling & Lake Erie railway merger faces阻阻 hurdles as common stock prices and market conditions complicate the proposed scheme. Analysts note uncertainties surrounding regulatory approval and financing.
The Wheeling and Lake Erie railway, key coal route in eastern Ohio, faces a consolidation clash as New York Central Nickel Plate and B and O control challenged by Taplin interests. ICC to hear objections on stock buys and routes this month amid rising 1923 26 revenue and a 100 point stock surge paralleled by through route ambitions.
Poultry markets in Chicago show steady activity with receipts of three cars. Fowls bring 23, springs 37, broilers 32, spring ducks 20 to 26, and spring geese 22, according to AP dispatch.
Call money firm in New York with all loans at 6 1 2 and closing bid 6 1 2. Time loans steady with mixed collateral 60 90 days at 5 3 4, 4 6 months at 6 3 4. Prime mercantile paper 4 3 4. Bankers acceptances unchanged.
Liberty bonds closed with Liberty 3 1 283 at 100.8 Liberty 1st 4 1 483 at 101.17 Liberty 3rd 4 at 100.2 Liberty 4th 4 at 101.27 Treasury 4 1 41 at 113.15.
Butter and Eggs in Chicago unchanged with receipts of 16 823 tubs and 19 693 cases. Liverpool weekly cotton statistics show total forwarded to mills 50 000 with 37 000 American, stock 671 000 including 634 000 American, imports 37 000 with 11 000 American, exports 2 000 including 1 000 American.
In Doorn the little court around former Kaiser Wilhelm receives devotion from locals. A Count reports gardens filled with ducks awaiting the Kaiser and signaling dawn salutes, while ducks crow instead of chantecler.
Chicago June 22 Two of the most complete exhibits of Africa and Madagascar life and customs will be shown at the Field Museum of Natural History. Pagan Africa is represented by carved medicine men wood iron and brass works and altar pieces linked to periodic human sacrifices.
Bobby Jones shot a 73 total, 34 on the opening nine, as the national open at Olympia Fields began. The field started the second 18 holes under bright sun with 60 players to advance, led by Henry Ciuci and Frank Ball at 70.
Florence Arizona June 22 Four Chinese convicts were executed by hanging at the state prison for the murder of Tom King, a Kingman restaurant owner. A fifth Chinese convict had his sentence commuted to life imprisonment yesterday. The executed were B. W. L. Sam Shew Chin Jew Har and Gee King Long. Sam the eldest, was carried to the gallows. Jew Har smoked.
San Diego County prepares a large plant at San Marcos to raise silkworms and produce raw silk on a scientific basis starting July 1. A San Francisco firm will operate the facility with hundreds of mulberry trees planted and large sunlit buildings nearing completion. Eastern silk manufacturers watch the venture closely.
Lady Frederick E. Guest and farmer Amy Phipps are named as backers of Amelia Earhart's Atlantic flight. Rumor credits Earhart with receiving forty thousand dollars toward purchasing the tri motor Fokker plane from Commander Richard E. Byrd.
The flood control panel rewrote the Reid measure guiding federal control of the Mississippi and its tributaries. A Kansas City summer plan includes a Louisiana visit to observe the flood survey team as it tours the river. Herbert Bayliss of the state chamber will assess the state body's role in economic development. Governors Long Moody Paine and Bilbo of Louisiana Texas Kansas Mississippi were invited but attendance was uncertain.
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