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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Apr 12, 1916
Page
13
Fragmentary weather notes indicate partly cloudy conditions with possible rain or snow and wind shifting. Mentions missing report data and unclear temperatures and precipitation figures.
Good weather weighs on Conton market sentiment as traders report a bearish influence and low trade volume. Local buyers hold back, sending prices steady while activity remains limited amid clear skies.
Cotton traders note progress in southern crops and a dim European outlook. Texas quotes for actuals fall 25 to 56 cents per bale with San Antonio offers down about 60 cents from yesterday as frost, wet conditions, and market pessimism weigh on prices. Corridor reports indicate limited sales and a split view on value.
New York cotton opened unchanged to 2 points lower as near month liqui dation and Liverpool selling shadowed the market. May 11.85, July 12.01, October 12.17. later slipped to 11.81, 11.99, 12.14 before firmness from a bullish weekly weather report lifted July to 12.138 midday, then little changed around 12.92 with a barely steady close.
New York cotton futures opened steady with May at 11.99 and July 12.06, later closing 5 to 11 points lower. Market notes include shifts in December and January quotes and mention of Liverpool activities slated to begin Thursday.
Early trading shows selling encouraged by favorable weather conditions. Insect reports indicate rapid farm work progress. Weather and crop accounts are bearish. At noon prices show a net loss of 6 to 7 points. By 1:30 the decline deepens to 7 to 8 points. The market closes steady with a total decline of 9 to 11 points.
The New Orleans market reports steady opening bids across contracts May through January with December and January futures showing notable declines. Prices open near 11.74 to 12.20 per unit while early highs and lows are recorded, indicating a softer session ahead.
Cotton spot firm with good middling at 8.00 and middling at 7.76 per hundredweight. Lower middling 7.52d. Sales recorded at $000, speculation and export volume 1000 bales. Receipts reached 17,000 bales in Liverpool for April 12.
Liverpool metal futures show muted activity with multiple near term contracts listed. Prices around 7.3 to 7.68 pence and several roll-over dates noted from April to February in a quiet trading session.
April cotton seed oil futures closed easter with mixed quotes across months. Prices ranged from 9.55 to 11.00 per unit, total sales reported at 17 800 units.
The loreal livestock market was quiet with receipts of 473 cattle 15 calves 163 horses 133 hogs and 147 sheep by 2 PM. Steers sold 6.50 to 7 cows 5.50 to 8 calves 6.50 to 7.25 hogs 8 to 8.75. Goats were shipped to Fort Worth. Fort Worth and Chicago reported hog price advances.
The report notes delicate international affairs weighing on early stock trading with Standard shares heavy and United States Steel down a point while Bethlehem Steel dropped 14 percent to 465. Rubber, shade and leather, and Woolworth provided the only bright spots as directors declared a higher dividend. Market closed heavy with liqudation seen from out of town sources.
Chicago April 12 Wheat and corn rose on the Chicago Exchange amid adverse winter crop reports and bullish dispatches. May wheat moved to 1.18% to 1.19% per bushel with gains. July at 1.16% to 1.17%. Corn followed with a modest rise, oats gained slight strength and provisions advanced.
The April 12 Chicago markets note open high and close for May July and Sept wheat futures with indicated prices and percentages. Entries show May 23.37 23.86 28.57 and 93.17 for Sunny Provisions, Park, plus July and Sept figures and related rib and sausage data.
Cash grain market report from San Antonio shows Wednesday bids for Texas and northern wheat at 1.80 and 1.32 per bushel respectively. Corn No 3 Texas 73 cents, northern No 2 mixed 50 cents, northern white 76.8 cents per bushel. Oats Texas red 60 cents in bath or sacks 62 cents, northern white 66 cents bulk or 61 cents in sacks. Oklahoma prices follow Texas grades.
Wednesday quotations list dry salt bacon extras at 14 14 pound average 16 4 cents and 26 cents for fancy breakfast bacon with bacon bellies 14 16 pound average 18 cents. Pure lard priced 18 cents and compound lard at 12 1 2 cents.
Quotations list wheat values for No 2 red and No 2 hard, with corn No 2 yellow, oats standard, and barley prices. Figures appear as $1,2491,25% for red, $1,211, 1.22% for hard, and other grains quoted in unclear fractions.
Fort Worth market notes show cattle receipts around 3000 with mixed prices for steers heifers and bulls and calves. Hog receipts near 5900 with bulk and heavy classes cited and range about 7.25 to 9.50. Sheep receipts 2200 steady with lambs yearlings and ewes priced across typical ranges.
Wheat prices show No. 2 red at $1.80, No. 2 hard nominal, No. 2 white corn at 4gc7 and No. 2 oats at 43¢, with No. 2 white oats nominal. The report reflects a brief, fragmented grain board update from St. Louis on April 12.
Buyers paid prices for Texas country produce delivered in San Antonio on Wednesday. Butter and creamery products remained firm with creams at 31 33 cents per pound, country butter 20 25 cents, packing stock 20 22 cents. Poultry values held steady with hens 6 to 7 dollars per dozen, friers 6 to 7 dollars, broilers 4 to 4 50, turkeys 19 to 20 cents per pound, ducks 5 50 to 6 dollars per dozen, geese 7 to 10 dollars per dozen.
Chicago market update shows butter steady with creamery at 31 to 35 cents. Receipts total 54,125 cases with firsts at 20 204 and ordinary firsts 19 20 percent. Potatoes rise with receipts 75 carlots. Minnesota Michigan Wisconsin Dakota and Ohio white varieties and prices listed. Poultry alive steady with fowls and springs at 19 cents.
Kansas City report lists quota tonnage and prices for creamery products and poultry. Putter firsts and seconds show 25 and 3percent. packing 24c. Eyes firsts 20percent with no hens lic. turkeys 20c. springs ice noted.
Kern river oil could yield 100 barrels of gasoline from 115 barrels of crude under the Rittman process, with a refinery setup discussed in Bakersfield under government sanction to demonstrate commercial viability. A plant exists at Casper, Wye, demonstrating crude oil to gasoline conversion.
Frost Saturday night damaged gardens and injured cotton in Seguin County Texas. Much acreage was not yet up, corn, sorghum and other crops were burned slightly, fruit crops affected little. A soaking rain is badly needed as ground is too dry for seeds to germinate well.
Receipts and quotations show hogs and cattle active at Chicago on April 12. Hogs with varying classes range from 9.15 to 9.78 per cwt and hogs trading around 9.55 to 9.75. Cattle receipts near 12 000 with native beef steers 7.90 to 10.00, western steers 7.65 to 8.65, cows and heifers 4.10 to 9.10, calves 5.10 to 10.00. Sheep receipts 14 000 steady with wethers 7.00 to 9.40 and ewes 7.75 to 11.90.
New Orleans on April 12 reports the cotton market down 3 to 4 points as cables showed better than due trading but failed to lift spirits amid a tentative session.
Receipts and quotations show hogs at 36 590 with range 7 25 to 9 80, cattle receipts about 2000 with varying classes from native steers to cows and calves, and sheep receipts around 2800 with yearlings and lambs priced from 6 50 to 11 60. Strong hog demand contrasts with steady cattle and sheep markets in St Louis on April 12.
Kansas City market receipts show hogs 8000 steady with bulk 9.35 to 9.79, heavy 9.40 to 9.55, light 9.25 to 9.55, pigs 8.25 to 9.00. Cattle receipts 3000 with prime fed steers 9.25 to 9.75, dressed beef steers 8.00 to 9.25, cows 6.00 to 8.25, heifers 7.75 to 9.75. Sheep receipts 90900 steady. lambs 11.00 to 11.75, yearlings 9.75 to 11.00, wethers 8.75 to 9.50, ewes 8.00 to 9.00.
Arrivals include El Mundo and Satillo from New York, Ogee chee from Philadelphia, Arthur Balfour from Marseilles, and Daybreak from Havre. Sailed vessels are Nueces and El Sigio to New York, Hancock to Vera Cruz, and Ministre de Smet de Nayer to Rotterdam via naval transport routes.
Wheat No 2 hard sells at 1.13 to 1.22 dollars per bushel while red ranges 1.16 to 1.22. Corn No 2 mixed 71 cents to 71. The white variety shows 70 and 74. Oats No 2 white 47 to 48 cents and No 2 mixed at 41 to 43 cents.
Grain futures closed in Kansas City with Wheat May 1.11 and July 1.10, Corn May 69 4%c and July time, and Oats May 42% cents.
In New Orleans on April 12 the market showed a strong tone for rice overall with Japan clean grade steady. Receipts totaled 8,271 rough and 1,491 millers with 2,398 sacks of clean Honduras and 19 sacks Japan selling at various quoted prices. pockets and quotients listed reflect unchanged quotations and mixed run quality.
Savannah market data shows turpentine steady at 48 percent with receipts 241 and shipments 722 while resin activity remains quiet with sales 301 and receipts 556. Stock figures are listed for both products, and various price quotes for resin are provided.
New York on April 12 reports time loans regular for 60 days at 3 percent and 60 days at 3 percent with small variations. Call money eases with rates around 2 percent, while ruling rate hovers near 2 percent and closing bids show 14 percent in scattered figures.
English Money London reports bar silver at 29 18 164 per ounce and Money at 4 4 percent. Discount rates for short bills and three months are 4 4 4 percent.
Lard climbs one cent per pound in San Antonio as higher hog values and increased cotton seed prices lift compound and pure lard. Eggs, butter, and poultry unchanged. demand for fresh eggs grows amid irregular shipments. Onions from Julius Krueger in Maeciful Texas show strong yield with 456 crates per acre at $2.50 per crate, amid Krueger’s broader onion farming success.
The textile labor situation in manufacturing centers has led to many lines of merchandise at value until clearer producer costs emerge. Wage increases and shorter hours are occurring in quick succession. Selling agents are warned that higher prices for goods are inevitable as markets stay firm.
The Canadian clergyman and novelist Ralph Connor, author of The Sky Pilot and other works, is now serving with Canadian troops in France. A recent letter to his New York publisher described the troops' morale as low but spirits as hearty, and recounted wartime hospitality in London. A separate item notes a British scientist planning an ambitious sixteen miles to the inch world map project.
New York wholesale desk notes mercantile paper at 3754 percent and sterling at 60 A bille with $4.72 percent. demand $4 767 14 cables $4.77. Guilders demand 42 cables 42 percent. Silver rare at 62 percent. Mexican dollars 48 1/2 cents. Government bonds steady. railroad bonds irregular.
The railroad commission in Austin announced approval of an agreement between railroads and shippers of box and crate material mixed with set up baskets for fruit shipments. Mixed cars will use lumber rates if baskets stay under thirty percent of total shipment weight. Seventy six percent of class E rates apply to sewer segment blocks. Dismissal granted for Houston Hide Shippers petition seeking three percent off gross weight for salt and moisture in teen hides.
Dallas April 12 routine matters dominated the 13th annual convention with addresses by H S Sackett prom inent forester W J Edgecomb secretary of the Texas Retail Merchants Association and J H Cook of Houston Election of officers and other wind up business set for tomorrow
New York on April 12 reports No 7 Rio coffee futures easing at the opening. May futures quoted at 8.28 cents per pound and December at 8.62 cents.
Lead at 7.78 to 8.00 while spelter remains firm with East St. Louis delivery. Copper electrolytic steady around 27.75 to 29.00 for the third quarter. Iron unchanged and tin spot at 54.60 bid.
The Standard Oil Company said crude fuel oil price for less than carload lots would drop from 1.45 to 1.35 dollars per barrel in Kansas City.
Women farmers and stock raisers from almost every state gathered in Chicago for the first midwest conference of the association. The meeting began today and will run for three days.
Lead quotes at 24 pounds sterling. Boelter at 100 pounds. Spot copper 122 pounds. Futures 119. Electrolytic at 186. Spot tin 198 and futures 197 pounds.
A brief note on cotton prices in San Antonio, highlighting current market levels and brief trends. It notes price ranges and shifts for traders and growers observing the regional cotton market.
Observations taken at 7 a.m. Wednesday April 12 1916 from the Weather Bureau report. Wind velocities under 10 miles per hour and precipitation below .01 inch are not published. Allen Buell, Local Forecaster.
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