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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 03, 1916
Page
11
Brief market update notes bulls pressuring prices as bears falter amid cotton price strength. Short covering lifts activity across futures markets with traders watching supply signals and demand data. Coherent shifts point to a cautious stance among traders as volatility remains elevated.
Quotations from principal market show a fresh bull wave as shorts cover and weather outlook favors higher prices. Liverpool, New York, and New Orleans futures rise with October and December contracts hitting new highs while Hester’s annual U S consumption near 13.8 million bales supports gains as market strength spreads.
New York closed steady with a 24 to 26 point gain while New Orleans finished very steady with 28 to 31 points over last night’s close. In San Antonio buyers paid for cotton delivered at local compresses with grades ranging from strict low to good middling, reflecting varied demand.
New Orleans August 3. The world’s consumption of American cotton for the year ending July 31 reached 14,813,000 bales, up 973,009 from the prior season, per H. G. Hester of the New Orleans Cotton Exchange. Gains occurred in U.S. mills while foreign mills fell.
The New York cotton market surged early with gains of 7 to 12 points, December reaching 13.96 and January 14.92 amid London bulk buying. Following heavy selling, prices retraced but regained strength as Southwest heat and last season demand kept buying interest, closing steady at higher levels for December around 14.23 and January 14.29 before a late pullback.
Cotton futures begin trading firmer with October at 13.66 and March near 14.12, while December sits around 13.70 and January near 13.96. The 11 o'clock Liverpool call forecasts a jump of 8 to 14 points, signaling strengthening sentiment for New York futures.
Good cables and showers boosted buying in New Orleans with shorts covering and fresh long demand. Traders cited Hester’s season consumption at 14,318,000 bases, below last year’s 18,834,000, fueling bullish sentiment and driving prices up to 48 points over yesterday by midafternoon, December reaching 14.07.
Cotton futures opened steady with August at 13.30, October 18.48, December 13.65, January 13.76, and March 13.92. The market closed very steady. The text then lists varied commodity figures and garbled entries for unrelated items.
Liverpool August 3 spot cotton strong with good middling at 8.56d and middling at 8.40d while low middling is 8.24d. Total sales reached 6000 bales, including 300 for speculation and export. Receipts amounted to 8000 bales.
Liverpool and New York market notes show futures firmness with specific August to August and September to July contract spreads. The report lists daily closing figures and forward month pairings for cotton futures, followed by a line indicating cotton seed quotations in New York.
In Savannah on August 3 a turpentine firm shows 42 percent sales, 478 receipts, 457 shipments, and 14 897 stocks. A resin firm records sales of 2032, receipts 2126, shipments 1089, stocks 10 935. Quotations list multiple grades with prices ranging from 5.80 to 6.68 dollars, including several grades labeled F, G, H, I, K, M, N and W.
Virtual failure of the Canadian wheat crop is reported from Manitoba to Saskatchewan with black root disease in Estevan and Brandon. Market prices swung with opening gains followed by profit-taking and a late weak close as corn rose and oats lifted on crop damage news. Provisions traded higher on tight offerings.
Quotations today show wheat at No 2 red new 1.36 and No 2 hard nominal. Corn No 2 yellow listed at 83 5 8d. Oats Standard 43 44c. Barley 65 7 58c.
Quotations show wheat at No 2 red 1.35 to 1.41 dollars per bushel. No 2 hard 1.31 to 1.32. Corn No 2 at 0.81 to 0.82. No 3 white and oats No 2 at 0.39 to 0.46 and No 2 white 0.41 to 0.43.
Kansas City August 3 grain futures closed with wheat at 81.45 for September and 1.28 for December while corn traded around 67 for September and December.
Quotations from Chicago markets show pork futures with Sept and Oct figures and rib notes, along with miscellaneous pork and lard values. San Antonio packing house quotes list dry salt extras, bacon extras, bellies, fancy bacon and hams with per pound prices, and various lard percentages.
Resources of 83 state banks and trust companies in Texas total 150 209 969 at June 30 1916 down from May 1 1916 by 1 615 057 Overdrafts 863 219 capital stock 32 891 Unit figures show deposits 97 160 675 and undivided profits 11 496 490 with notable shifts across categories. Will meet August 6 Secretary McAdoo confirms four appointees for the new farm loan board and outlines initial duties ahead of August 7 organizational meeting in Washington. District divisions of twelve will be formed and announcements will be made nationwide.
Raw sugar output centrifugal at 6.14, molasses 5.37. Refined quiet fine granulated at 7.05.Prices reflect market levels in New York on August 3.
A concise report notes current cotton market conditions in New Orleans with price movements and nearby trends. It highlights price levels, demand indicators, and supply considerations impacting local trading.
At Union Stock Yards on August 3 the local livestock market held steady with active trading. Offers improved though weekly receipts remain average. hogs sold 6.50 to 9.50, cows 4.50 to 5.50, steers 5.75 to 6.50, calves 6.00 to 7.25.
Fort Worth Texas reports cattle receipts about 3100 with market steady. Reeves cattle range 6.00 to 7.80, stockers 5.09 to 6.00, cows 4.00 to 6.00, heifers 5.00 to 7.50, bulls 4.00 to 5.00, calves 6.00 to 9.50. Hogs receipts 2200 with market steady to five cents lower, bulk 9.35 to 9.40, heavy 9.35 to 9.40, medium 9.30 to 9.35, sheep receipts 1200 unchanged, lambs 9.00 to 9.75, yearlings 8.00 to 8.75, wethers 6.75 to 7.25, ewes 6.00 to 6.75. Goats 4.50 to 5.50.
Receipts and quotations show hogs at 8000 head with market steady to five cents lower. Bulk hog prices 8.30 to 9.55, heavy 9.50 to 9.60, packers and butcher 9.40 to 9.60, light 9.20 to 9.50, pigs 8.25 to 9.00. Cattle receipts 3500 including 540 southerns, market steady to strong. prime fed steers 9.25 to 10.69, dressed beef steers 37.00 to 99.00, southern steers 6.75 to 8.40, cows 4.50 to 7.25, heifers 6.00 to 14.00, stockers and feeders 6.00 to 8.00. Sheep receipts 3000, market strong. lambs 10.00 to 10.70, yearlings 7.7 to 8.0, wethers 7.25 to 7.58, ewes 7.00 to 7.50.
Receipts and quotes show hogs at 9.50 to 9.95 for bulk and near 7.75 to 11.99 for various hog categories, cattle receipts at 9,000 with native beef at 10.35 to 6.75 for western steers, and sheep receipts at 7,000 with wethers 5.75 to 8.50 and lambs 7.25 to 11.15, market tones described as weak for hogs and firm for cattle and strong for sheep.
Receipts and prices for livestock and cattle in St Louis show steady trade with hogs at 8.60 to 9.80 and cattle race receipts around 2,500 with native steers up to 10.25. Sheep receipts near 3,000 with lambs selling around 7.00 to 10.19. Pittsburg notes crude oil price cuts and rescue of stored oil, while New Orleans rice markets hold steady with rough rice quoted around 3.80 and damp buyers active in Honduras.
Cotton stocks on the same day compare at 8,235 this week and 646,757 last year, with a season deficit at 233,505. The figures reflect year to date performance and ongoing supply levels for the season.
Washington Aug 3 The honest grape fruit and berry basket bill by Representative Reavis of Nebraska prescribing dimensions for standard interstate shipment baskets was passed yesterday by the House. Grape growers of New York and southern and western small fruit raisers backed the bill to protect against under sized containers used by competitors.
New York trading opened with renewed liquidation in automobile shares driving many to their lowest prices of the year. Canadian Pacific weakened further while Union Pacific rebounded from a minor setback. United States Steel held firm as Bethlehem Steel fell five points. Sugar stocks dipped to low prices in the final hour, but shipping shares showed strength and motors recovered late. closing was irregular.
Buyers paid prices in San Antonio on Thursday for Texas country candied at 21 and country creamery at 26 with 20 cent variations. Poultry values held steady with hens at 5.00 to 6.00 per dozen, large fryers 5.00 to 6.00, broilers 2.50 per entity, turkeys 16 to 16 cents per pound, ducks 4.00 to 9.50 per dozen, geese 4.50 to 6.00 per dozen.
In Chicago on August 8 butter prices advance with creamery 24 to 28 1/2 cents, eggs climb with receipts 7868 cases and firsts at 23 1/2 to 24 cents, ordinary firsts 22 1/2 to 22 3/4 cents at mark. potatoes also higher with 15 rail cars received. Virginia barrels 2.60 to 2.65, bulk 40 cents AG. Ohio TG 50 cents. Poultry prices unsettled. fowls 17 4 cents, springs 18 2? cents.
Quotations today show butter at 28c for firsts 26c for seconds 28c packing stock 219c. Eggs first 28c poultry hens 16c roosters 10 1/2c broilers 21c. New potatoes firm across Louisian Texas Arkansas Oklahoma Triumphs and Kaw Valley early Olhos and more noted in the Kansas City market report.
Wholesale market prices to retailers and shippers for Texas and California produce. Potatoes onions cabbage peppers and more listed with per hundred weight per crate per dozen bunches and per box figures. Includes apples bananas oranges lemons limes peaches grapes plums kraut apricots and fruit cases with varied size and grade notes.
The bulletin lists 24 hour weather data for Houston district stations as of 8 a. m. 75th meridian time with temperatures near normal and rainfall of an inch or more at several locations including Toccoa Prescott Wynne Holly Springs Kingstree St George Evergreen Livingston Waynesboro Goldsboro and St George North Carolina and Alabama Mississippi and Arkansas stations named. Meteorology by Allen Ruell of the Weather Bureau.
Receipts of Texas produce were light while Pacific coast and Rocky Mountain states shipments rose. Trade was brisk with row buyers and Fort Sam Houston mess sergeants sustaining steady prices. California tomatoes brought 31.25 per lug, Colorado celery 60 cents per dozen stalks, and California Malvoise grapes sold at 1.75 per box.
The list details multiple officers from infantry cavalry and artillery ordered to report for examination at Eagle Pass and to Fort Sam Houston for temporary duty. It notes resignations accepted from Carl Clarke and R K Gruner, plus reassignments to various forts, areas and boards within the southern department and ordnance duties.
Washington August 3 The Senate unanimously confirms the nominations of Charles F E Lobdell of Great Bend Kansas George W Norris of Philadelphia W S A Smith of Sioux City Iowa and Herbert Quick of Berkeley Springs West Virginia as members of the new farm loan board There is no opposition in the vote
Observations recorded at 8 am Thursday August 3 1916 by the U S Department of Agriculture Weather Bureau. Wind speeds under ten mph and precipitation under .01 inch are not published hereon. Allen Buell, Meteorologist.
Lead in New York market quoted at six dollars per unit with refiners asking. Spelter weaker on spot East St. Louis delivery. In London, lead quoted at 29 pounds 108 shillings per ton and spelter at 47 pounds.
Market notes show grain prices including Wheat No 2 hard at 1.28 to 1.34 dollars, No 2 red at 1.27 to 1.37, Corn No 2 mixed around 8.11 to 8.12 dollars, No 2 white about 8.2 dollars, Oats No 3 white around 0.42 to 0.44, and No 2 mixed near 0.38 to 0.41, based on day’s trading.
In New York on August 3 activity in cotton goods was strong and prices moved higher. Worsted and cotton yarns remained firm as retailers continued to buy for spring delivery. The market attracted many buyers across the sector.
A Texas railroad commission notice of hearing proposes revising express rates on flavoring extracts syrups and prepared drinks transported between nuts in Texas. All express companies will be notified and the hearing is set for Tuesday September 12. The plan also adds grape juice to the list of articles subject to flavoring rates.
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