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Newspaper
Roswell Daily Record
Location
Roswell, New Mexico, United States of America
Date
Mar 06, 1935
Page
5
Daily stock actions shift as President Roosevelt remarks spark initial inflation fears. Gold and silver miners rise briefly, grains and pounds recover, then prices ease. Leading gains include U S Smelting, McIntyre Porcupine, American Can, Case. transfers total 1,285,947 shares.
New York traders push through a volatile session led by large industrials and transportation stocks. Major gains appear in Westinghouse and Allied products while rail and oil issues show mixed to lower results across the board, reflecting cautious sentiment.
Fine grade territory wools show solid demand with 64s and higher territory lines leading the sale. Prices range from 60 to 63 cents for secured bulk averages, 58 to 60 cents for short combing and clothing, and 63 cents for certain French combing on scoured bases. Lower grades sell in small lots with no change from last week.
Kansas City data show hogs around 9.70 for 200 pound tops, sows 7.75 to 9.00. Cattle and calves include prime grades 24.40 to 24.80, yearlings 13.40, and steers 550 to 900 pounds 11.00. Cows 6.00, cutters 2.50 to 4.00, milk fed and stocker cattle 6.00 to 9.50. Sheep and lambs slow. best native lambs 8.65+. lambs 7.85 to 8.65. yearling wethers 5.75 to 8.50. ewes 4.00 to 5.35.
Chicago grain closes with Wheat May 95 1/8 July 89 5/8 September 89. Corn March 83 3/4, September 74 1/4. Oats May 48 3/8 July 41 3/4 September 40 1/8. Rye May 62 1/2 July 62 5/8 September 52 3/4. Barley May 74 July 65 September. Lard May 13.59 July 13.57 September 13.65. Beans May 16.80 July 17.02.
Trading on the New York curb shows mixed moves in energy and industrials with Amn Cyan B at 15 3/4, Gulf Oil Pa at 52 3/4, Humble Oil at 46 1/2, and Newmont Min at 35 5/8. Steel and chemical names appear with smaller shifts, including Ford Mot Ltd at 7 1/4 and Seiberling Rule at 1 3/4.
New York March 6 AP mid day rally in cotton faded as renewed liquidation pulled May contracts back from 12.40 to 12.31. Futures closed steady with modest losses. March 12.20 May 12.32 July 12.37 October 12.23 December 12.30 January 12.33 Spot quiet middling 12.50.
New Orleans spot cotton closed quietly on March 6 with a 9 point drop. Sales totaled 292, middling grade quoted at 12.49 cents per pound.
Spot cotton in Galveston on March 6 remained steady at 10 to 12.50 middling with sales totaling 250 bales, reflecting stable prices and modest trading activity. The report notes overall firmness in the market without price shifts.
U S bonds show mixed rates led by Fourth 4 1/4s trading around 101.10 and up to 101.16 for Home Owners 4s. Treasury 4 1/4s remain near 116, while Fed Farm Mortgage issues sit around 49 for 3s and 64 for 3 1/4s, with a broad set of prices noted.
The high court cites a recorded exchange between Tingley and Coyle, notes Coyle claimed nothing at a key time, and finds circumstantial evidence sufficient though autopsy opinion was not obtained. Coyle, a youth from Oklahoma, confessed to a filling station robbery for $5 before shooting during a store hold up in Albuquerque.
At the monthly Roswell city council meeting it was decided to strictly enforce ordinance 23 requiring outside toilets for properties not bordering city sewers. The press was urged to inform affected residents to comply or use the FERA labor-free toilet program.
Daytona Beach Florida March 6 AP Abashed but hopeful Sir Malcolm Campbell faced the risk of a 300 mph attempt on the Bluebird. Lady Campbell intervened to stop him, ruling the run too dangerous after recent near misses and a broken cowling accident. The mayor agreed. Washington March 6 AP Ways and Means voted 14 to 11 to favor cash payment of the veterans bonus over Patman currency expansion, with plans to report to the House for floor action.
As fratricidal strife continues, Turkish troop concentration near Anikar a sparks regional concern. Bulgarian foreign minister Kosta Bateloff warns against actions aimed at Bulgaria while France and Britain deploy ships to protect interests. Zenizelos seeks haven in Egypt as Greece asks Cairo to disarm potential landing insurgents.
East Grand Plains starts road construction under the Federal Emergency Relief Administration program. The project aims to improve local infrastructure and lift community conditions through federal funding and supervision.
Santa Fe March 6 AP The state relief and security authority can start once Gov. Clyde Tingley names a three member board bringing the total to four with the governor as ex officio chair. About 225000 from liquor stamp tax funds the relief effort with 166000 allocated this year and 500000 annually thereafter. The franchise tax may add 300000 yearly. SB312 creates the authority and outlines distribution including federal funds. A three member commission will replace the former state bureau of child welfare in handling relief money. County funds from the indigent relief levy stay in county hands under local branch boards subject to state approval.
Investigators seized a 40 gallon still and 300 gallons of unpaid tax liquor mash at Moore New Mexico. Jose Rafale Gonzales pleaded not guilty before a U S commissioner in Las Vegas and was bound over to the federal grand jury under a $1000 bond.
In Blanding Utah on March 6 AP reports James Palmer 35 sought by ranchers, officers and DOJ agents as the slayer of two stockmen, William Oliver 70 and Norris Shumway 24, in a southeastern Utah range feud. Their bullet torn bodies were found near a cliff by the San Juan River and moved to town in snow for burial.
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