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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Jun 27, 1930
Page
12
In New Orleans on June 27 the cotton market moved in quiet trading with early gains of 6 to 8 points. July rose to 13.36 and December to 13.32 before closing steady for the day with declines of 4 to 13 points. exports for the day reached 2,618 bales and the week 44,100. Prices steadied as shorts covered and weather and surplus stock influenced the session.
In New York on June 27 cotton futures eased with July dropping from 13.82 to 13.45 and October from 13.16 to 12.87 as investors showed restraint amid weak demand and softer technicals. Midday rallies faded and the market closed barely steady with futures 10 to 18 points lower and spot middling at 18.60.
The market opened strong on continued heat and good cables but slipped as selling rose in the second hour. Weather maps show heat across the belt with showers in some states, tenders small, and about 168 550 bales tendered for July. Cotton stabilizers meet in New Orleans to plan crop handling with a program to be announced Monday.
Sugar prices rose with continued strong inquiry as July shipments to Porto Rico and the Philippines were booked, while Cuban sugar offered at 13-8e cost and freight before duty. Futures opened higher on demand from European and Cuban traders and closed with steady gains and about 51,000 tons moved.
Cal money for 2 per cent all day time loans quoted 2 1 2 to 2 3 4 with variations for 06 days and 4 months. Rates show minor shifts as references to 90 day and commodity terms appear, with prime commercial pager and bankers activities noted in a terse market snippet from New York.
The market sagged as trading remained dull despite two prior days of gains. Brokers loans plunged by 371 million while bank loans on securities rose, and declines hit Southern Railway and North American stock to new lows with a broad set of issues slipping 2 to 7 points.
Markets at a glance show stocks down with heavy declines on Southern Rail and North American slides. Bonds and curbs move irregularly as utilities rally after initial weakness. Cotton falls on favorable weather and crop reports while sugar rises on stronger demand. Coffee steady on European buying. Chicago Wheat and Corn steady amid export sales and high southwest temperatures. Cattle steady, Hogs rise.
Rapid price swings dominated early trading as wheat rose 5-8¢ at the open before slipping, then recovering. Corn and oats followed, with corn steady to firm and oats easing. Provisions stayed near steady. wheat closed firm near yesterday's finish with small gains, while corn and oats showed modest moves and provisions varied.
Hogs 22 000 with 9 000 direct mostly 10 20 higher. buyers in Chicago unsettled by weight classes. Cattle 2 000 calves 1 000 generally steady. best weighty steers 11 75. Slaughter classes show varied ranges for different weights. fed yearlings 9 75 11 75. wealers 9 50 11 00. Sheep 9 000 fat lambs steady to 25¢ lower. ewes and lambs show mixed changes.
In New Orleans on June 27, cotton seed oil closed steady with prime summer yellow at 7.35 and prime crude from 6.75 to 7.12. Futures quotes showed January at 7.75 and July through December ranging from 7.45 to 7.76 as listed by the Associated Press.
Potatoes in Chicago on June 27 shown 102, very weak with slow trading. Oklahoma Arkansas Tennessee and Illinois sold Irish cobblers at 1.40 to 2.05 per hundredweight, reflecting a soft market.
The report lists closing prices for multiple companies across industries including Allied Chemical Delta American Can American Car & Foundry American & Foreign Pow American Locomotive American Smelting & Ref American Sugar American T & T American Tobacco Bethlehem Steel Canadian Pacific Chesapeake & Ohio Chicago Great Western Chicago M St P & P Chicago & N Western Commercial Solvent Commonwealth South Col Gas & Electric Consolidated Gas Continental Can Continental Motor Continental Oil of Del Corn Products Curtiss Wright Du Pont General Electric General Motors General Railway Signal Gillette Safety Razor Great Northern Pacific Hudson Motor Illinois Central Harvester Int Nickel Louisiana Oi Louisville & Nashville Mack Truck Miami Copper Missouri Kansas & Texas Missouri Pacific Montgomery Ward Nat Power & Light New York Central North American North Pacific.
June 27 report shows irregular foreign exchange with British pound at 4.8513 16 dollars and major European currencies cited. The listing includes numerous company stocks and commodities such as Phillips Petroleum Remington Rand Reynolds Tobacco Sears Roebuck Studebaker Union Pacific United Aircraft Western Electric and Woolworth among others with varied prices and symbols.
Aided Carol Julio Maniu, former premier and head of the peasants party, participated in the parliamentary session that awarded the crown to King Carol of Romania. He is expected to obtain a seat in the upcoming cabinet.
Snap beans light and beans higher at New Orleans markets. Butter beans abundant and cheap. okra and peppers firm. squash, tomatoes, corn steady. Best celery 75 cents a dozen. cabbage 2.25 to 2.75 per cwt. potatoes, onions, garlic, lettuce, watermelons, peaches, apples show varied steady to weaker trends with regional varieties listed. Louisiana peppers, cucumbers, potatoes shipped in multiple cars.
Jimmie Simpson proprietor Abie Marx and Buddie Yates operators of the Louisiana Brokerage were arrested by deputies C D Meredith and D L Roper on charges of operating a turf exchange to take horse race bets. Bonds set at 1000 each. Warrants issued by H D Apgar after police probe.
Washington June 27. Senate Finance Committee hears Director Frank T. Hines of the veterans bureau on the World War veterans bill substitute vetoed by President Hoover. A late vote is sought. Democrats push for higher payments and a shift to Legion program disability awards, opposed by Hoover. Senator Watson advocates the Legion plan. McNary cautions on adjournment.
The Richland Operating company completed another large gasser today. The weir Godfrey No. 2 in section 25-16-86 shows an open flow of 32,000,000 cubic feet daily.
Liverpool notes cotton prices up across grades with American imports at 1,600 in 3,000 bases sold. Receipts also 3,000, including 1,200 American. Futures closed easy with July to May contracts listed from 7.12 to 7.17 and later months around 7.00.
A June 27 Chicago note records poultry transport figures: alive stock, 2 cars. 13 trucks. fowls 19. springs 27. broilers 22. roosters 14. turkeys 18. spring ducks 18 16. spring geese 18.
Thomas D Schall won the Republican nomination for a second term in the United States Senate in the Minnesota primaries.
Reserve officers from across Louisiana will meet at Camp Beauregard on Saturday for R. O. A. day. Brig. Gen. Raymond H. Fleming and Col. A. J. Lichtermann coordinate events. Col. Lichtermann and Lt. Col. L. Kemper Williams of New Orleans plan addresses with other officers including Lt. Col. Edward L. Smith and Major Bennett A. Molter.
Decatur Alabama June 27 found guilty of second degree murder Judge William E Skeggs sentenced to 10 years in prison for killing Policeman T E Wright who tried to arrest him on a traffic violation charge Wright was killed during a highway stop the jurist admitted the shooting in testimony but said he did not know the man was an officer Appeal filed and bond set pending action.
Alexandria reporter notes Rapides Parish total reaches 65 413 up 5 969 since 1920. The Alexandria Pineville wards along Red River total 35 156 with Ward one showing 26 879 residents, 23 010 inside Alexandria city limits. Ward nine Census 8 277 lists 3 594 within Pineville town limits.
Two highway policemen were injured when a moonshine still they surveilled exploded in Markham. Patrolman Walter Remillard is near death from burns. a sergeant was only lightly hurt. Officers concealed near the 150 gallon still found no one on site before the blast.
Butter unsettled at 17 274. price unchanged. Eggs 18 343, easy. prices unchanged.
Washington June 27 William Green president of the American Federation of Labor predicted unemployment would improve in late summer and autumn. He said June showed no improvement over May with about 3 600 000 out of work and wages lost over 2 000 000 000 in the first six months.
Juvenile officer E. L. Wright has placed three children in the Louisiana Baptist Children's Home four miles east of Monroe. Two more children remain with the same family but are aged beyond the home’s limit. The children's mother is dead and the father is jailed, believed mentally affected by malnutrition. If he recovers, he may regain custody.
Detroit June 27 discovery of uroselectan a dye that makes kidneys opaque to X rays was announced by Dr Arthur Bins of Berlin at the American Medical association radiology meeting. The dye aids diagnosis of kidney infections by making kidneys as vivid as bone under X rays and tests show no harmful effects on patients.
In a letter to Monroe police, Mrs. R. E. Kline of Shreveport, Louisiana asks assistance locating her nephew James Clifton Roberts, last seen 30 years ago while she was Carrie Kelly in Center Mississippi. She believes he may be in Monroe working for a gravel company and asks locals who know him to help reconnect.
In Sentinel Butte North Dakota on June 27 four members of the Mathew Zimmer family died after eating home preserved beans. Mrs Zimmer and her two daughters Frances and Valeria plus Morris Zimmer were taken ill Sunday and succumbed to the poisoning.
SHREVEPORT June 27 The Arkansas Fuel Oil company completed a 41 million gasser Ashley No 2 section 15 16 10 Bienville parish in the Lake Bisteneau district at 2604 feet. The well is the largest ever completed in that area and struck the sand near the depth of the deeper pay in the Elm Grove gas field of Bossier parish.
Grand jury in Los Angeles will resume tomorrow testimony that theater magnate Alexander Pantages, jailed on a sentence of one to fifty years for alleged assault on Eunice Pringle, was framed.
A second Cincinnati bank closed with two former officers under arrest on conspiracy charges linked to A. W. Shafer’s alleged million dollar check kiting. Lyman Norris and Harry Rosenblum, once vice president and cashier, faced $25,000 bonds as directors replaced them.
The Retail Credit association noon luncheon at Hotel Monroe discussed forming a collection bureau as a safeguard against unreliable concerns. Eighteen members attended with E. Jack Selig presiding, and H. B. Ryland reported on the national convention in Toronto.
Kentucky’s 1930 population totals 2,604,744 with an estimated 188,114 increase or 7.8 percent. The AP cites figures from district supervisors and notes the unreported county had 18,532 residents in 1920, affecting the final tally.
Stella B. Ethridge 89 died at her daughter’s home 406 Apple Street after a Louisiana life of 70 years. Widow of W. B. Ethridge funeral at the house. burial in Downsville cemetery. R. H. Thompson 73 died at 307 South Sixth Street. funeral at residence with Rev. D. W. McElroy officiating. He leaves four children in Los Angeles and nearby.
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