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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 25, 1930
Page
10
New Orleans June 25 The cotton market opened active with July deliveries leading trading as first notice day. July slid to 12.60 then 12.55 before rising to 12.78 as weather and crop summaries eased losses, with October moving from 12.63 to 12.84 and closes higher.
Early declines in cotton gave way to rallies as July liquidation eased and weather reports remained favorable. Futures closed steady with mixed gains and losses, spot prices steady at 13.45, and New York trading noted a mid afternoon shift to near unchanged to down a few points.
Cotton eased early on liquidation from large July tenders but firmed after notices ceased with a moderate daily gain. July traded near Oct and the new crop near prior lows as Farm Board activity was noted in New Orleans while New York brokers halted July notices.
New York June 25 raw sugar shows a steadier tone though demand remains light. A single sale of 28,700 bags Porto Rican to an outport refiner for late July delivery at 3.30. Futures fluctuate with modest covering and some outside buying, then firm by midday. Refined prices hold 4.60 to 4.70 for fine granulated as July to May futures trade narrow ranges.
In New York trading, bears pressured the market with rail shares the weakest sector while a late rally saw some industrials drift higher. Key names like U S Steel and American Can touched new lows, but Choicest issues recovered modestly as total volume neared 2.4 million shares.
Stocks slip with rails and key industrials at new lows while bonds trend irregularly. Curb markets show weakness as Standard Oil of Indiana hits a new low. foreign exchanges firm with Spanish peseta at a new low. Cotton steadies on improved demand. sugar and coffee move higher or lower on spot and European selling. Wheat stays steady on strong export trade and favorable foreign crops, corn edges up on central west rains, cattle rise, hogs hold steady.
Chicago grain markets opened with strong upswings in wheat after a volatile session that saw prices break records previously. Corn eased from opening levels while oats held firm and provisions fell, with demand shifting through the day.
A long list of closing stock figures shows Allied Chem and Dye at 246, American Can at 113, American Car & Foundry at 48, American Locomotive rising, Atlantic Refining, Baltimore & Ohio at 100, Bethlehem Steel, Chicago and Alton, Commercial Solvent, Commonwealth, Continental Oil of Delaware at 188, Corn Products 924, Electric Power & Light 68, General Electric, Gillette Safety Razor 684, Houston Oil, Kansas City Southern 58, Long Bell Lumber 93, Louisville & Nashville 128, Missouri Kansas & Texas 358, Montgomery Ward 328, Northern Pacific 684, Paramount Publix 53, Phillips Petroleum, Radio Corp of America, Reynolds Tobacco 463, Sinclair Consolidated Oil, Southern Pacific 109, Southern Railway 97, Standard Oil NY 303, Texas Corporation 50, Texas Gulf Sulphur 50, Union Pacific 49, United Carbon 50.
New York reports foreign exchange rates with Great Britain at 4.8513 16, France 3.928 16, Italy 5.231 2, Belgium 13.95, Germany 23.831 2, Norway 26.761 2, Spain 11.61, Greece 1.298 4, Brazil 11.30, Tokyo 49.40, Shanghai 36.061 4, Montreal 100.00. US Steel Western Maryland and Western Electric notes appear amid market chatter.
Chicago market summary shows poultry quantities and prices for June 25. Items include fowls 20, springs 30, broilers 20 to 23, roosters 14, turkeys 8, spring ducks 16 to 8, spring geese 20, with 4 cars and 29 trucks noted as available.
Liverpool market notes show lower cotton prices with American grades leading sales of 2,000 bales including 900 American. Receipts total 5,000 with 200 American. Futures closed steady with listed contracts for July October December January March and May.
Call money steady at 2 percent all day in New York. Time loans stable across ranges from 30 to 60 days 2 1 2 to 23 4, 90 days 2 1 2 to 23 4, 4 months 2 3 4 to 3, 5 6 months 3 and prime commercial paper at 3 1 4 to 31 2. Bankers acceptances unchanged.
Isaac Lemle addressed the Kiwanis club outlining what being a Kiwanian entails after winning a recent contest on Kiwanianism. Mrs H J DeQuick sang two solos with H M Kulckey at the piano. The next Kiwanis gathering is Monday at 8 PM in Hotel Monroe to observe international all Kiwanis day with ladies present.
Hogs 21 000 head mostly steady with 8 000 direct. cattle 5 500. calves 2 500. sheep 10 000. Hogs priced 200 to 300 pounds 7.75 to 9.15. cattle slaugher classes up to 12.50 per 100 pounds. vealers 9.50 to 11.00. sheep mostly 12.00 to 12.50 for best. ewes 2.00 to 3.75 for medium to choice. Overall firm to uneven gains with mixed quality.
Seed oil futures show a steady close with prime summer at 7.10 and prime crude at 6.62. Prices curve through the year with January 7.50, July 7.15, and moving upward to December 7.45.
Miss Lillian Collins, registrar of voters, urges immediate registration as the Democratic primary on September 9 nears. All Louisiana voters must re register 30 days before election day, with August 9 the deadline for the upcoming primary. The process may be difficult if waited until the last moment, as nominations include several major offices.
A five member Ouachita parish police jury group and five school board members will convene at 4 p m on July 3 to choose a site for the proposed junior college in the parish. The police jury members are J M Breard J M Myatt F C Pointers H M Williams and Dr C L Mengis. School board members are Joe Renwick J H Trousdale J B Filihol Fred G Thatcher and R L Moore.
Park H. Pollard of Cavendish, cousin of former President Calvin Coolidge, was nominated by the Vermont Democratic Party for governor at the biennial caucus. Pollard stated he opposed the 18th Amendment and the Volstead Act and favored their repeal.
Potatoes in Chicago trading fair show Elisa Triumphs at 2.35 to 2.40 mainly with best lots around 2.35 to 2.40. Southern sacked a gain of 2.00 to 2.50 in the market.
In Chicago on June 25 Butter held at 11 465 firm with prices unchanged. Eggs at 11 509 showed weakness with various grades and receipts figures listed, including extra firsts 221-2 and fresh grad ed firsts 22, plus current and storage receipts ranges.
John S. Hunt of Hodge was named director of Central Savings Bank and Trust to succeed the late Dr. H C Cole for the unexpired term. Hunt is a leading North Louisiana businessman with lumber interests and current ventures in Hodge Shreveport Ruston and Monroe. He is part of Hotel Francis with a $600000 cost project to be built in the city, likely making Monroe his permanent home.
Mrs. Lottie Martin sues Interurban Transportation Co for 25000 in personal injuries. Defense asks contempt over alleged bribery attempt aimed at witness Frank Deckert. Judge Shell orders Martin and two agents to show cause. case previously tried June 9 and referred to briefs.
Harry S. Armstrong reports Senator Edwin S. Broussard opposes the Louisiana constitutional convention bill. Broussard reportedly said he does not think the state needs a convention at this time.
J F E Doughtie departs tonight for Atlantic City to attend the Kiwanis International convention next week. Louis Hullum, president of the local Kiwanis club, will also be in attendance.
Chicago June 25 The Sears Roebuck and Company board declares a regular quarterly dividend of 62 cents a share, payable August 1 to stockholders of record July 15. Earlier, two 1 percent stock dividends were declared to be paid August 1 and No 1 stock dividends to stockholders of record July 15 and October 15.
The body of 63 year old nurse Ida May Galbraith was recovered from Lake Michigan at the foot of Hollywood avenue Chicago. Police believe she took her own life though the circumstances include a taped mouth and head wrapped in cheesecloth.
Sidney Stewart director visits Calhoun reporting strong progress in cotton growing with 25 acres planted and nine milk cows in the dairy. He urges support for a Louisiana experiment stations funding bill, noting it could double staff if enacted. Cotton yields cited include 1540, 1050, 1300, and 1150 pounds per acre across 1927 to 1929.
The Illinois Central will run a seven day Fourth of July excursion from Chicago to southern cities including Monroe. Round trip fare to Monroe is 15 dollars. Depart Chicago at 6 p m July 2 with through cars. Return by midnight July 9.
Monroe Y's Men's club will hold its semi annual officer election during the weekly dinner at Hotel Virginia this evening. The group has grown from ten to twenty five members this semester, and current officers include John L. Madden president Jack Castle first vice president Dr C P Jarrell second vice president Lealis Hale secretary Thomas Frazer and Lyman Gladney treasurer.
Bernard Levi came back Monday from Memphis and other Tennessee locations where he spent a pleasant summer vacation.
The annual short course for men and women in farming runs August 11 to 14 at Louisiana State University Baton Rouge. Ouachita parish farmers and wives are expected in large numbers as lectures demonstrations and entertainments cover crops machinery pest control and home economics. Agricultural economics will be added with R L Thompson as instructor.
A. R. Williams son of former congressman John Sharp Williams obtained a final divorce from Elizabeth J. Williams in Yazoo City chancery court. He was awarded custody of two children Betty Dial and Ann Sharp and ordered to pay $2,000 on July 1 1930 $1,000 on January 1 1932 and $1 000 on January 1 1933 plus $125 monthly alimony until death or remarriage.
Lincoln parish officers seized and destroyed a large whiskey still located one and a half miles south of Choudrant. Will Drury, present at the still, was arrested and jailed in Ruston.
S. H. McClary Jr son of S. H. McClary secretary of the Chamber of Commerce will leave next week for Leelanau Camp for boys at Glen Arbor near Traverse City Michigan He will stay during July and August returning in time for the parish high school opening.
S L Lantrip of Macon Georgia visits relatives in Northeast Louisiana spending time with his father Rev W W Lantrip of Columbia and his cousin Rev Henry Jordan pastor of Gordon Avenue Methodist church in town.
Treasury net balance on June 23 was 367,983,870.91 dollars. Customs receipts for the month to that date totaled 66,579,873.41 dollars.
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