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Newspaper
Roswell Daily Record
Location
Roswell, New Mexico, United States of America
Date
Dec 28, 1934
Page
5
On the New York Stock Exchange volumes were moderate with diverse results. Wheat and other grains traded firm in Chicago as cotton stayed buoyant in New York with January futures at 12.59 and March at 12.68 while spot cotton held around 12.85 middling as the market digested gains in other sectors.
After a White House conference with Ickes Morgenthau and Bell the cabinet planned a full meeting with the president to discuss the administration's legislative program. In New Mexico relief chief Reeves warned the state cannot meet relief needs without continued federal aid amid drought and low morale.
Moderately optimistic sentiment prevailed in New York trading as year end tax selling absorbed without disturbance, prices firmer though activity waned. Grains eased in dull dealings, cotton rose, hogs at Chicago reached highs since September, rails and utilities showed modest gains, and several major names rallied on reports from Wilson & Co. about strong fiscal results.
Hogs 1500 mostly steady with spots 10 lower. top 7.10 on choice 230 lbs. packing sows 275 to 500 lbs 5.25 to 6.75. Cattle and calves about 1000 killed. classes steady. Wethers and calves steady. steers good and choice 550 to 1500 lbs 6.00 to 10.00. heifers 5.50 to 8.50. cows 4.00 to 5.00. vealers milk-fed not fully stated.
New Orleans spot cotton closed steady and 11 points higher on December 28 as 460 bales were sold. Middling grade priced at 12.88 cents per pound amid market activity reported by AP.
The Associated Press notes closing prices for diverse equities across industries. Highlights include Gulf Oil at 55, Newmont Mining at 37 3/4, Humble Oil around 49, Ford Motor Ltd at 8 7/8, and Amoco related issues with mixed gains and losses among utilities, energy, and manufacturing stocks.
U S bonds in New York finish trading with Liberty bonds fourth 4 1/4s at 33-38 old, 101.27. Treas 4 1/4s at 47,52, 113. Home Owners Loan 4s 51, 101.1. Fed Farm Mtg 3s 49, 99.22. Fed Farm Mtg 3 1/4s 64, 101.16.
In Galveston on December 28, spot cotton held steady at 15 and middling grade priced at 12.85 cents per pound. Total sales reached 334 bales.
The London accord sets a defensive equality limit, mandating France and Italy to scrap to a 5-5-3 balance. It caps U S and Britain at 525000 tons of capital ships, Japan at 315000 tons, with each nation reducing fleets to the agreed tonnage levels.
Legal wrangle continues as the state canvassing board considers issuing official canvass certificates only after a Supreme Court ruling. Chief Justice Watson proposes delaying till Monday at 10 to allow court guidance. The dispute centers on San Miguel county returns and a mandamus action by Chavez.
The pact restricts capital ships to under 35 000 tons with 16 inch guns and carriers under 27 000 tons with 8 inch guns. It sets aircraft carrier tonnage by nation at 135 000 for the US and Britain, 81 000 for Japan, 50 000 for France and Italy. Japan nears its limit, US is 78 ships under, Britain 44 under.
Washington reports the Chamber of Commerce proposes removing intra state business from NRA jurisdiction as Congress reconvenes for January. A national dispute over collective bargaining and majority rule resurfaces with labor board figures backing stricter enforcement, while the chamber seeks a new NRA law.
Huey Long, amid his 1934 political shadow, called a legislative committee to hear more testimony about city affairs and fees in New Orleans. The move caps a year of aggressive tactics and influence over Louisiana politics.
An Arkansas Jackson Parish representative, William J. Hammon, died in an auto crash while rushing to a legislative session as a committee probes accusations against Mayor Walmsley. Early hearings cited graft payments from gamblers and prostitutes and a chaotic city treasury, which Walmsley denied. Prostitution in the restricted district and strict gambling prosecutions followed Walmsley’s orders after the election, with the inquiry expected to report on city books and audits.
Washington officials forecast reallocating some federal drought cattle purchase funds. They said only about one fourth of the cattle that could be purchased under the final allotment were bought so far, leaving the remainder potentially movable.
Officials in the commodity purchases section of the farm administration said funds listed for purchase by December 21, about three weeks after allocation, may be redirected. Favorable weather in Colorado and Wyoming improved conditions beyond prior survey expectations, suggesting purchases in those states will use less than their quotas and other states may have excess funds for areas with more severe distress.
State Comptroller Juan N. Vigil said Henry Trujillo, former Santa Fe city clerk, has made good part of the money he was short in audits. A $750 check is held to cover the city once the remaining $250 is paid. Vigil adds negotiations for a settlement with Trujillo's attorneys are ongoing.
The New Ford V-8 for 1935 is described as the biggest and roomiest Ford car yet, with modern lines and luxurious appointments. It emphasizes ease of riding through weight distribution, forward shifting of the engine, redesigned seating, and longer flexible springs for a smoother ride and greater stability.
Ford unveils the 1935 V-8 with enhanced stopping power and lighter pedal effort thanks to new brakes and clutch. A refined steering system, cranked by features like improved crankcase ventilation and copper-lead bearings, promises dependability and economy for over a million owners. The De Luxe body adds wider doors, airy interiors, modern instrument board, insulated bodies, and richer upholstery.
Prices listed for Ford V-8 models include Coupe with windows at 495, Tudor Sedan 510, Fordor Sedan 575, De Luxe Roadster 550, Coupe three windows 570, Coupe five windows 560, Phaeton 580, Tudor Sedan 575, Cabriolet with rumble seat 625, Fordor Sedan 635, Touring Sedans with built in trunk Tudor Touring Sedan 595, Fordor Sedan.
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