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Newspaper
Roswell Daily Record
Location
Roswell, New Mexico, United States of America
Date
May 01, 1934
Page
5
Today’s stock market showed muted gains and soft spots as traders remained cautious about any substantial near term rally. Turnover reached 1,367,350 shares with mixed results across sectors including telephones, autos, and steels while grains and cotton fell on weather worries.
Boston wool prices largely unchanged from last week with quotes stable. New wool offerings from Ohio and Michigan were listed at 36 cents per pound for combing 56s, and 35 cents for strictly combing, reflecting a firm market.
US Dept of Agriculture report from Kansas City shows hogs about 5000 head with top 3.40 per cwt for 190-240 lb packers, sows at 2.50-2.90. Cattle and calves total 7000 with heavy steers up to 1275 lb at 8.50, cows 3.50-4.00. Vealers 3.50-6.50. Sheep and lambs weak to lower with spring lambs 10.26-11.00, native lambs 9.00-10.75, yearling wethers 6.25-7.60, ewes 3.50-4.35. Quotations based on ewes and wethers.
Wheat, corn, rye, barley and fat hog futures listed with May and July positions. Prices shown for wheat 77 2, corn 46 8, rye 54 7 8, barley 38 1 4, lard 5.79, with further values across May and July maturities and blanks in bellies.
Silver futures fell about a cent an ounce as heavy selling continued the decline from yesterday. Bar metal traded around 41 3 4 cents, the lowest since November 6, with prices driven by anticipated mandatory silver legislation and liquidation of holdings.
Liberty bonds closed with First 41-45 at 104.1 and 33-38, Treas 4 1-4s at 110.30, Fed Farm Nr 3 1-4s at 101.28, and Home Owner Loan 4s at 100.13 or 100.13 with a five percent coupon.
STOCK AVERAGES FOR MAY 1 1934 SHOW INDIVIDUAL WEIGHTS AND INDEX NUMBERS FOR SEVERAL STOCKS. THE STANDARD STATISTICS CO FIGURES LIST INDIVIDUAL PRICES WITH PROBABLE DAILY MOVEMENTS AND OVERALL PROXIES FOR THE MARKET. DATA REFLECTS THE DAY'S TRADING AND COMPARISONS TO PREVIOUS LEVELS.
AP notes New York Carb market highlights with various listed stocks and prices. Companies mentioned include Am Alg, Amer G&E, Detroit Air, Ford Ltd, Gulf Oil, Newmont, Niag Hud Pow, Penn Road, Swift & Co, Texdn, Trans Air, Unit Gas and others with quoted fractions indicating share values.
In New York May 1 AP reports a sharp drop in cotton prices with July futures sliding to 10.73 10.74 as May closes at 10.56 and other contracts lower. Spot middling remains 10.75 as covering and modest buying spark partial rallies.
New Orleans on May 1 per AP reports spot cotton quiet and down 12 points to middling 10.85, with 186 sales. The market shows muted activity as traders watch prices and demand.
Galveston on May 1 reports spot cotton steady at 15 points down with middling grade at 10.85 cents per pound. Weather gusts and gales reaching 250 indicate disrupted harvest conditions. Local market traders note stable prices despite wind impact.
Albuquerque and Santa Fe merchants confront the new gross receipts tax with debates on timing and collection. Clerks endure public prompting as customers pay extra on purchases from coffee to magazines. Tax penalties, appeals limited to the Tax Commission, and shifting consumer impact dominate the scene.
Washington May 1 AP approximately a score of amendments suggested by western senators have been approved by the Department of Interior for inclusion in the Taylor grazing bill. Senator Adams was named to head a sub committee to consider these amendments and other alterations. Public hearings closed today but may be reopened if governors Blood and Miller are available. Howard Smith of the Arizona Cattlegrowers Association said the state opposed the bill citing fear of government ownership and the Papago Indian Reservation. Mossman of Roswell New Mexico and Bryant of Otero County New Mexico spoke as proponents.
The report, gathered from member firms, shows over 2 billion dollars gross income in six years, with 1928 and 1929 averaging well above a million dollars yearly. Data, kept undisclosed until now, aimed to influence pending control legislation in Congress amid charges of misrepresentation by the New York exchange.
A $15,000 ransom was demanded by telephone as the search for June continued. Mauler cited a Tucson telegram and June's parents blamed vengeance from Bernabe Robles due to business dealings. Richard Robles, an uncle, is a patient at Stockton State Hospital since February. San Francisco police investigated a report of a girl matching Jane seen with three men and two women in a car. the license number matched a bridge worker but may be mistaken.
Chicago police and federal agents hunted for John Dillinger amid multiple sightings and tips while tracing a 1929 Chevrolet sedan and a gunsmith linked to Dillinger’s gang. A slugged officer identified Dillinger by photo as part of a four gunmen incident, but no firm trace was found.
To figure out ways and means of handling the tax accounting system necessary for collecting the tax and money due on commodities. All together it was a busy day for the merchants in more ways than one.
Washington May 1 AP Major General Hugh L. Scott died after two months at Walter Reed. At 80 years old the former Army Chief of Staff was famed as both a noted Indian fighter and a friend of the Red Man. His home was Princeton New Jersey. His four decades of service began after graduating from West Point in 1876 and entering the Sioux Exe...
The House Post Office Committee rejected the Senate air mail bill and pushed its own measure. Differences include lack of ICC appeal rights and route decisions in the House version, and a 5 cent per ounce air mail rate versus six cents in the Senate plan. Both propose a presidential commission to study aviation policy.
Senate leaders hinted at new proposals to take to the White House to ease presidential opposition to mandatory silver legislation this session. The silver question surfaced during a 45 of 60 Senate Democrat conference, centered on tariff talks, with Senator King noting discussions with the President are ongoing.
The article notes President Wilson promoted Henry H. Scott to Chief of Staff in 1914, a key move that positioned him at the outbreak of World War I. It also credits Scott with recommending General John J. Pershing be placed in command of American forces in France.
A fragment suggests that some measure may be brought forward before session adjournment. The note indicates ongoing legislative activity and possible action as the current session winds down.
A committee was named from New Mexico judicial districts to oversee primary and convention procedures. Members include J J Kennyone Santa Fe George Craig Albuquerque Benson Newell Las Cruces Luis Armijo Las A gas J M Hervey Roswell Percy Wilson Bootes Charles Fowler Raton E C Crampton Fort Sumner H R Parsons. The aim is to evenly divide factions and ensure neutral members guiding timely, recognized meetings to settle contests.
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