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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 26, 1929
Page
7
In New Orleans June 26 the cotton market retreated modestly after an early rise as a favorable weekly forecast and Mississippi weevil report tempered gains. October and December futures fell about 21 to 22 points from highs, with closes easing 5 to 16 points and exports totaling 2,962 bales.
New York June 26 Associated Press reports cotton futures rose on improved weather outlooks for eastern and central belts. July held firm while new crop positions dropped eight to nine points. nearby prices saw modest gains after early advance on rain forecasts.
Cotton vigor rose on early reports of heavy rains but eased after the weather bureau review. Traders liquidated long positions while others sold short. no July liquidations. Weather remains the key factor with acreage guesses expected to show large increases, though estimates may adjust.
Raw sugar remained quiet with Cuban and duty free offerings at 3.58 duty paid. Futures opened weaker on liquidation and July notices, then eased 2 to 4 points by midday. Refined unchanged at 5.00. Nearing close, futures held barely steady with about 77,950 tons traded and values listed for July through May contracts.
Poultry at Chicago on June 26 includes alive firm receipts of 2 cars with totals of fowls 27 springs 41 broilers 34 roosters 20 turkeys 22 30 heavy ducks 17 20 and heavy geese 15.
The 14 month old son of Mr and Mrs W F Wilbanks died early today at home west of West Monroe. The funeral and interment will be held tomorrow at Walnut Grove cemetery with time not yet decided.
Broad stock market advance pushes rail road and public utility indices to new peaks. Oils and coppers lag amid outlook uncertainty. Merger rumors circulate as Wright Aeronautical and Curtiss groups trend higher. Public Utilities and high grade shares hit fresh records, while some rails and industrials gain on strong demand.
Reports of beneficial rains in Canadian drought areas send Chicago grain down early. Wheat opens 1 to 13-4 cents lower before recovering some loss. corn slips then turns up. oats ease. provisions sag. Wheat finishes about 1-2 cents down, corn 1-2 cents up, oats steady to 3 cents off, provisions unchanged to 12 cents down.
In New Orleans on June 26, cotton seed oil closed steady with prime summer yellow at 8.40 and prime crude at 7.62 to 7.75. Futures for 1 2 1-2 months listed as January 8.85 July 8.54 August 8.60 September 8.75 October 8.78 November 8.80 December 8.80.
Hogs receipts 19 000 slow with early sales 15 to 25 cents lower top 11.15 butchers 250-800 lbs 10.40 to 10.90 130-160 lbs 10.25 to 11.10 Cattle receipts 6 500 calves 2 500 very slow finished steers and yearlings about steady slaughter classes steers 1300-1500 lbs 18.75 to 15.60 950-1100 lbs 13.26 to 15.50 Vealers milk fed 13.00 to 16.00 Sheep receipts 12 000 steady fat native lambs 14.00 to 14.25 fat ewes 6.00 to 6.50.
CHICAGO June 26 Higher receipts 11 143 tubs. Creamery extras 42 1 2 standards 42 1 2 extra firsts 40 1 2 42 1 2 firsts 39 1 2 40 1 2 seconds 38 49 Eggs unchanged receipts 16 800 cases.
Associated Press dispatch from Chicago notes total receipts 35 new 7 old as stock trading remains fair and about steady. Southern sacked Bliss quoted at 1.75 to 2.00 while old stock trading slow. Wisconsin sacked round whites at 55 to 70.
On June 26 in New York, Liberty bonds traded at 31-25 96.10 with 41-4s at 99 and 4th 41-48 at 99.10. Treasury issues showed 41-45 at 107.17 and 42 at 104.2.
New York June 26 closing stock items list a wide range of equities and commodities. Notable figures include Timken Roll Big at 107, Union Carbide 1014, US Steel 1884, Westinghouse Electric 42, Woolworth 2215, Curtiss Aero 167, GMN 44, Lago Oil 386, and Miami Copper 484. The report shows foreign exchange rates and assorted corporate prices amid steady quotations.
Market brief from New York and Chicago shows stocks advancing with steel leading gains while bonds remain irregular and turnover high. Curb markets stay firm with Electric Bond & Share at a new high as currencies and commodities show mixed signals including a weaker Japanese Yen and softer cotton and Cuban sugar markets. Wheat and corn show steady to firmer tones in Chicago, with cattle irregular and hogs down.
Pauline Parker, now Madame Jean Assolant, arrived at Harve with an air parade greeting. Her husband and three comrades from the Yellow Bird unit saluted her with a kiss as she reached the shore. The wedding couple planned lunch at the Declair river resort before a possible flight to Paris.
In Liverpool on June 26 the spot cotton market shows higher prices amid increased demand. American cotton terms rise across grades with sales totaling 7,000 bales, receipts 1,000, futures barely steady with July to May contracts around 9.9 cents per pound.
On June 26 call money remained steady at 10 percent all day. Time loans showed slight ease with 80 days at 8 percent, 60 to 90 days at 8 percent, and 4 to 6 months at 7 to 4 percent. Prime commercial paper quoted at 6 percent and bankers acceptances unchanged.
At the New Jersey state convention in Trenton on June 26 the Democratic platform draft calls for a statewide referendum on prohibition. The draft argues prohibition has failed in the past decade and cites crime corruption and lawlessness as proof. It urges a rational program and public expression of opinion through a referendum.
Mexico City moves to transfer church properties to Roman Catholic priests. Archbishop Ruiz announces 15 churches to be ready for opening services by week’s end with first Masses likely Saturday. Priests will appoint by the archbishop, interview current custodians, verify inventories, and complete municipal registration with birth certificates to prove Mexican birth.
Ann Livingston testified in a $250000 breach of promise case against Franklin S. Hardinge, wealthy Chicago manufacturer. She described jewels tied to Hardinge’s wife and a bitter quarrel with Helen Hardinge and his housekeeper Josephine Brand as motives in the suit.
June 26 report from Washington states Herbert Hoover Jr., son of the president, is now First Lieutenant in the army specialist reserve. He may be assigned to any branch and will be attached to the air corps. Address listed as 1635 South Las Robles Avenue, San Marino, California.
Three-judge federal court reconvened in New Orleans for the second day of hearings on the oil severance tax. L. P. Garrat of Shreveport, Gulf Refining employee, testified about whether oil quality affects price. The case challenges the specific gravity basis of taxation. Guion led cross examination as Gov. Huey P. Long and Atty. Gen. Percy Saint observed.
New York June 26 Wright Aeronautical directors meeting revived Wall Street chatter of a Wright Curtiss Aeroplane and Motor merger to form the world's largest aviation group. Curtiss President M Keys offered no comment as reports say a holding company would acquire stocks in ten Curtiss and Wright firms including Travelair Keystone Aircraft and others. The plan envisions a full line of motors and aircraft under a single control, aligning with the globe’s largest airline interests.
New York teen Gloria Palmer a 16 year old violinist earns 27 dollars weekly as a bank clerk. She has refused vaudeville offers of 600 dollars weekly to focus on study and concerts. Critics praise her recital work. Also noted: Newfoundland sees a slight rise in deaths over births with a total population of 286 175.
In a terse statement Miss Livingston recalls Mr. Hardinge's anger and plans to confront Helen. She says she knew Helen might feel hurt by her wearing their mother's jewels and would not keep them if it caused her distress.
Governor Bilbo will address Mississippians after the extraordinary legislative session to discuss state issues. He favors creating a state printing plant and would run for state superintendent of education in 1931 against W. F. Bond, making the plant issue central. He blames Bond for past printing plant defeats and denies opposing Senator Pat Harrison, saying he will support Harrison for re-election.
John B. Hammond former chief of police leads a campaign challenging near beer legality under Iowa law. He seized 150000 bottles after a warrant and aims to block shipments statewide while targeting railroad routes. Hammond acts solo and has past ties to the New York Civic League.
W. W. Cooper and Dr. R. L. Wood of the Monroe Legion post plan a motor trip to Lake Providence tonight to attend a Legion function there.
Members of the Forty and Eight will gather at the Legion Home Thursday night for a regular meeting. Plans for another promenade in the near future will be discussed. Full attendance is urged.
The Russian government will send three agricultural experts to Kansas this summer to study harvesting as done by the state's wheat queen Mrs. Ida Watkins. She supervises a 2,500 acre farm and last year harvested 50,000 bushels using power machinery day and night during the busy season.
Report from Macon ties bootleggers in Miami and Jacksonville to a计 passing counterfeit bills. W M Belton and George Brodnax are named in the probe as figures in the scheme and the pair face charges or jail status as authorities pursue the case.
G B Beatty of Fort Worth Texas reports fifteen years of stomach trouble and biliousness eased by Sargon. He gained eleven pounds in three weeks and says he is now healthier, steadier, and free of headaches or dizziness. He notes friends witnessed his recovery and lists local Collens pharmacies and drug firms as Sargon outlets.
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