Cotton Prices Rise Abroad Lift Market Outlook
Market activity gains as cotton prices abroad push local buyers higher. Limited supply on offer amid international demand signals suggests firmer trading for cotton futures and spot lots.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Apr 15, 1916
Page
7
Market activity gains as cotton prices abroad push local buyers higher. Limited supply on offer amid international demand signals suggests firmer trading for cotton futures and spot lots.
The principal spot cotton markets quote middling prices with New York opening 2 to 3 points higher and July at around 12.00. Liverpool cables show steady demand while New Orleans reports stronger spot demand. overall activity remains quiet though prices edge up, with July selling to 12.00 and the general list closing fractionally higher.
New York reports futures for May through January rising early trading with May at 11.83 and January at 12.36. Prices closed 3 to 6 points higher after day’s range shown, with reference to highs and lows for the session and notable quotes for October and December contracts.
San Antonio buyers paid varied prices for cotton delivered at local compresses on Saturday. Reports show grades from good middling to strict middling with prices around 9.88 dollars per unit, reflecting market activity in the city.
New Orleans La April 15 Good cables spurred moderate cotton buying and prices rose three to five points in early trading. Trading stayed light and prices were pressured by unfavorable international politics outlook. Spot demand steadyed the market but fears of upcoming political developments limited gains.
New Orleans commodities report shows May at 11.69 July 11.90 October 11.97 December 12.10 January 12.19 asked. Prices closed unchanged to 1 point higher. Weekly weather forecast from Washington predicts normal temperatures for the coming week with early rains east of the Mississippi and later fair weather across the South.
Dry salt bacon and bellies at 14 percent and 18 percent, 14 to 16 pound averages. Dry salt extras 14 percent, 181/2 cents. Fancy breakfast bacon 26 cents. Fancy hams and pure lard priced. pure lard 13 cents, compound lard 12 cents. Bellies and bacon also listed with 16 cent and 14 to 16 pound averages.
Auction style listing offers 155 acres near Fant City Live Oak County at 12.50 per acre plus 1 8 acres near Rock Island at 5 per acre. Other plots include 429 acres miles from Cotulla and 160 acres cultivated with two wells at 15 per acre. Contact B Schwegmann San Antonio or Walter Oclze Cotulla. Good farms to exchange for merchandise or sell cheap for cash. T H C Peery Seymour Tex.
French exchange rose sharply from recent weakness with the Paris check rate at six francs to the dollar, down from 6.09 yesterday. Officials cited progress on a loan negotiations led by American bankers, with expected funding of at least 100 million dollars, possibly double. The government and private investors hold large American railway bonds and preferred shares likely to back the loan along with some South American issues.
Spot cotton firm with good middling at 7.844 and low middling 7.60. Sales total 4000 bales, including 400 for export and speculation. receipts 12,000 bales. Futures steady with various month quotes ranging around 7.6 to 7.87 pence per pound.
A Corpus Christi notice lists wholesale prices for potatoes onions tomatoes celery cabbage and more. Prices vary by state and item with Texas California Florida and Louisiana represented, including beans squash citrus and dried fruits. payment terms to retailers or paid shippers are noted alongside unit measures and crate sizes.
Austin April 15 Resources of the savings departments of 28 Texas state banks totaled 4 014 651 70 as of March 31. First liens on real estate amount to 2 631 268. Liabilities include 3 964 141 to depositors 5312 interest due depositors and 42 697 net undivided profits. Cash on hand 922 988, 839 752 above legal requirements.
April field notes from the Cattle Raisers Association of Texas list range conditions across towns such as Pecos Fowlerton and Marfa. Movements include 31 cars to Oklahoma from Fowlerton 25 cars to Oklahoma from Girvin 45 cars to Oklahoma from Brady and 35 cars to Fort Worth from Marfa.
New Orleans reports a strong tone in rough Honduras and Japan rice with steady clean Honduras and Japan grades. Receipts total 6186 rough, 5169 millers, 10884 clean. sales include 1133 bags rough Honduras at 3.00 to 3.90, 15028 pockets clean Honduras at 3 5 8, and 625 pockets Japan at 3 4 c.
The Savannah market shows turpentine at 47 48% steady with 236 sales, 171 receipts, 19 shipments and 6313 stock. Resin firm with 597 sales, 443 receipts, 321 shipments and free stock. Quotations include A B D E F at 4.65 and Nees W G at 6.40 among others.
Butter 76 tubs sold at six cents per tub at 83 1 3 cents. Hear L. R. Loving of Corpus Christi, merchant and Rotary Club president, speak at First Baptist Church Sunday at four o'clock.
Weather improves, especially in the northwest, dampening wheat futures. Canada seeding progress reports and larger Argentina offers plus higher Australia clearances. May and July futures opened with declines then turned unsettled and lower. Corn closed firmer, oats steady, provisions weaker after initial firmness.
San Antonio buyers posted Saturday prices for corn, oats, and various hay types with prices per bushel or ton. In Kansas City on April 15 quotations showed Wheat No 2 and No 2 red values and Corn No 2 mixed and white bids with several cent ranges.
Grain futures closed with Wheat May at 1.06 percent and July at 1.07 percent. Corn May at 6.93 cents and July around 7 cents, with spot and near contracts showing firm movement in Chicago and Kansas City sessions.
Chicago quotes show No 2 red soybeans at 1.191.19%%, No 2 hard hl at 1.16%, No 2 yellow corn at 77 78c, oats standard 45% 46%c, barley 62 76c.
In St Louis on April 1 15, quotations for grains and corn show No 2 yellow prices around 1.27 to 1.29, No 2 hard near nominal, corn No 2 at 41% ec and No 2 white at 74% inc, oats No 2 at 42c and No 2 white near nominal.
Kansas City market data show Quotations for creamery products at 25c for putter, 33c for firsts, 26c for seconds. Eggs listed at 21c for firsts and pastry items noting hens at 12e and turkeys at 20c, with spring values indicated.
New York reports mixed cotton seed oil quotes with April at 10.45 to 11.00, July 10.69 to 10.71, August 10.67 to 10.60, September 10.66 to 10.59, October 9.40 to 9.60, November 8. tras. 69. Total sales reach 1000. Uncle Eben quips that money is his best friend but seldom looks well entertained in company.
London April 5 A novel insurance for wartime stockpiles bases rates on war duration. Rates jumped up to 70 percent for cover through December 31 and even 90 percent in banking circles, signaling belief the war may end this year. Factories pushing for protection influenced the shift.
Fort Worth and Kansas City report cattle hog and sheep prices with steady to higher quotes. Fort Worth lists hogs at 4.35 to 9.65 with heavy and mixed ranges and cattle and sheep prices. Kansas City shows hogs around 9.60 to 9.80, cattle steady, lambs 11.00 to 11.40, and yearlings and wethers near 9 to 9.50 in a busy market day.
In St Louis on April 15 receipts show hogs 4500 with steady market and prices from 7.50 to 19.00 per head for various grades. Cattle receipts 299 with steady market. native steers from 7.60 to 9.75, yearlings 8.00 to 9.50, cows 5.50 to 4.00, stockers 5.60 to 8.50, Texas and Oklahoma steers 5.25 to 8.15, calves 4.00 to 11.00. Sheep receipts 160 with steady market. yearling wethers 9.09 to 10.75, lambs 10.00 to 11.65, ewes 7.50 to 8.85.
Receipts total 12,000 with varied bulk light mixed heavy and pig prices noted. Cattle receipts 200 with steady market listing native beef steers western steers stockers cows and calves with prices ranging roughly from 4.10 to 10.00. Sheep receipts 2,000 with steady market and prices from 7.00 to 11.50 for ewes and lambs.
Buyers paid prices for country produce delivered in San Antonio on Saturday with steady beggs, firm butter, and varied poultry quotes. Texas candied fruit at 18 to 19 cents per pound, Texas creamery 31 to 33 cents, country packing 20 to 22 cents. Poultry values ranged from six to seven dollars per dozen for hens and roosters, with turkeys 19 to 20 cents per pound, ducks 5.50 to 6.90 per dozen, geese 7.00 to 10.00 per dozen.
Quotations were mixed in Chicago on April 15 with creamery at 34 9c and 34 9c seen for Eegee. Receipts totaled 29 426 cases with firsts at 20 20 2c and ordinary items 18 20c. Potatoes unsettled with 20 varieties received. Minnesota and Dakota whites quoted at 89 88c and 72 78c for Ohios. Poultry alive unsettled with fowls 18c and springs 20c.
The market opened firmer for Mexican issues with Mexican Petroleum and Greene-Cananea advancing. American Smelting Texas Company and Copper shares showed small gains while United States Steel and Crucible remained, down or steady. Trading was light as investors awaited developments in external relations and markets closed firm despite some bond weakness.
New York on April 15 reports the actual condition of clearing house banks and trust companies shows a reserve in excess of legal requirements amounting to 102,744,690 dollars. This exceeds last week's excess by 23,696,760 dollars.
Mercantile Paper stands at 3.34 percent. Sterling 60 day bills at 4.78, demand 4.76, cables 4.77116. Guilders demand 42 percent, cables 42. Bar silver 64 1/2 cents. Mexican dollars 49 1/2. Government bonds steady. Railroad bonds irregular.
J A Clopton reports his roadster theft near Fort Sam Houston at 11 30 Friday night with no trace found. Fiesta week fire drills at central fire station begin 9 am and 3 pm daily with many volunteers from nearby towns expected to observe. Also listed are entries for a dog show closing April 17, horses escaping city streets, and various local business ads.
Observations taken at 7 am Saturday April 15 1916 note wind speeds under 10 mph and precipitation under 0.61 inch are not published by Allen Buell local forecaster.
New York April 15 reports coffee futures steady with May at 8.17 dollars and December at 8.51. Rio No. 7 grade noted at 9 percent of futures.
Woodmen and Woodmen Circle members and friends are invited to a joint unveiling at City Cemetery No 1 on Sunday April 16 at 4 o clock. Hon Jewel P Lightsfoot of Austin will attend and address the audience. The event is organized by The Committee.
Copper continued firm with near term deliveries nominal and leading agencies quoting 28 to 29 dollars for third quarter deliveries. Iron showed no change.
Trading in Mexican money in San Antonio Saturday showed quotations for silver pesos and half pesos. Bank of London and Mexico and Carranza money were noted in the listings.
Bar silver at 204 3 4 pence per ounce and money at 4 1 2 percent with discounts for short bills and three months at 4 1 2 percent.
Raw sugar prices for firm and centrifugal grades are listed with figures such as 6.02 and 5.25. Refined loaf and mould categories show prices up to 8.35 and 7.50. An invitation notes Clark Pease and L A Loving of Corpus Christi will speak at First Baptist Church Sunday at four o clock.
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