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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 23, 1938
Page
11
Investment and trade buying lifted cotton to the highest levels since early April with July to May futures advancing up to 15 points. Late trading saw modest pullbacks but prices remained higher, aided by strong stock markets and optimistic government signals. Exports totalled 6.5 million bales across the session.
A report from New Orleans notes middling cotton averaged 87.4 cents per pound across 19 southern spot markets today. The past 30 days show an average of 8.29 cents per pound.
New York reports renewed firmness in cotton as morning losses of 10 to 11 points due to foreign selling were erased by commission house buying and covering. Prices rose 23 to 26 points from the lows and held near best mid afternoon with October up from 8.48 to around 8.70. Futures closed 5-9 higher. Spot steady, middling 8.77.
Liverpool reports 6 000 bales with no American demand. Spot business modest as prices ease by six points. Quoted levels show American strict good middling 5.53 and low middling 4.08 with futures at July 4.58, Oct 4.71, Dec 4.75, Jan 4.17, Mar 4.80, May 4.83.
In New Orleans on June 23 cottonseed oil steadied with bleachable prime summer yellow at 7.90 nominal and prime crude at 66.2 1 2 6.87 1 2 nominal. July 7.10b, September 7.71b, October 7.20b, December 7.69b, January 7.72b. Bid indicated.
New York market report shows cottonseed oil futures rising by 2 to 7 points with 310 contracts traded. The July price at 8.18 1/2 cents, September 8.19, October 8.18 1/2 to 8.19, December 8.18, January 8.17 1/2. Bid side indicated.
Butter and eggs market figures show creamery specials at 25 3 4 to 26 1 4 with extras 25 1 2 and firsts 24 3 4 25. Eggs reach 19 619 easy with current receipts 18 1 2. As of May 1, 1938 there were 780 municipal airports in the United States 275 army airdromes 612 auxiliary fields and 8 private fields.
In the heaviest dealings since last October, major stocks rose for the fourth straight session with many gains of 1 to over 5 points. Rail and industrial issues led the surge amid brisk turnover near 2.5 million shares as traders cited expected business and government stimulus backing the rebound.
Public notices detail sale of movable property from the succession of Mattie Frazier and the estate of T. L. Hood in Ouachita Parish. Included are stock certificates, notes, mortgages, and a mortgage against Monroe real estate. Also reports a city marshal sale of household goods and a Monroe city council session noting stock market activity and market influences.
Chicago livestock figures show hogs 12 000 with 4 000 direct and prices up 10 to 15. cattle grain fed steer and yearling values mixed. sheep weak with lambs 9.35 best and bulk 9.00. City council authorizes multiple bids including five Reo buses at 6485 each and a 2 ton Dodge street plusher at 4137.50 delivered. Succession notice details sale of estate assets in Monroe Louisiana with real and movable property description and bond terms.
Chicago June 23 Wheat futures opened slightly higher on firmer Liverpool quotes and favorable harvest weather in the southwest. By close, wheat was 1/8 to 1/2 lower from yesterday, with July at 75 1/2 to 5/8 and September at 76 5/8 to 3/4. Corn and oats showed little net change, with July corn at 57 1/2 and September at 58 3/4 to 7/8, oats steady to 1/8 lower.
In New York on June 23 irregular price moves hit sugar futures as No 4 eased on liquidation while No 3 firmed on covering and Wall Street buying. No 4 Sept fell to .92 and March to 94 1-2 as prices traded near lows at 2 p.m. No 3 gained 3 to 4 points, with July at 1.78 and March at 1.91. Futures No 3 closed 2-3 higher with 25,150 tons sold. July 1.77b Sept 1.82b March 1.90b May 1.91b.
Chicago June 23 live poultry market notes show 48 trucks of hens easy and chickens firm. Hens 5 lbs and under 17 cents per pound. Plymouth Rock fryers 17 1 2 cents, White Rock 17, colored springs 16 1 2, Plymouth and White Rock 19 1 2. Other prices unavailable.
Marion La June 23 Special Forty additions to the Farmerville Baptist church membership followed a revival ending with 20 baptisms and 20 transfers from other churches. Rev H F Kilpatrick of Minden preached and T E Carroll of Henderson Texas led singing. Pastor M A Treadwell noted strong interest and large crowds.
In Lake Providence a welfare conference drew Mrs Hilda Moore director of Tensas parish public welfare Miss Katherine McGuire child welfare worker Mrs Claude Earnest Dr Thomas Ward director of the Tensas parish health unit Philip Watson and Elliott Coleman. Palm trees grow 180 feet tall in Colombia.
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