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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 06, 1916
Page
16
A summary style item notes weather and market context with figures on temperatures around 82 high, 74 low, and average near 78. It records precipitation of .29 inches in the 24 hours ending 7 p.m., .20 inches above normal for the day, and a long term excess of 601 as of January.
A brisk closing session sees bulls dominate the cotton market with steady gains and a positive weekly outlook. Traders cited strong demand cues and limited supply as supporting factors for sustained price momentum.
The week's cotton trading shows steady gains with futures and cash prices moving higher. Strong buying, large consumption figures, and favorable weather news supported a bull mood, lifting December and March contracts and keeping the market active in San Antonio and New Orleans exchanges.
New York cotton futures closed unsettled with spot at 9.25 bid and varied months from 8.35 to 9.84. In Savannah Ga turpentine held firm with small sales and steady stock at 18 810, resin also firm with mixed quotations for several grades and close in the 5.95 to 6.60 range.
The bulletin lists 24 hour observations ending 8 a m for the Houston district. Temperatures are near normal with rainfall exceeding an inch at Mobile Alabama and Brookhaven Mississippi. Allen Buell, Meteorologist, Weather Bureau.
Clearing house data show cash reserves in New York banks up by 3,065,470 from last week, with total reserves exceeding legal requirements by 112,811,780. Loans and discounts reach 3,222,822,000, deposits and other items reflect varied gains and losses across vault reserves, federal reserve balances, and other depositories.
Fort Worth Texas reports slow cattle receipts totaling 400 with varied prices for beeves calves and cows. Hog demand remains steady with bulk trades around 9.25 to 9.45 per hundredweight and lighter weights near 9.20 to 9.80. Sheep and goats show moderate activity with lambs near 9.00 to 9.75 and goats at 4.50 to 5.50.
In Chicago on August 5 receipts were hogs 9000 with a steady market and a range of 7.75 to 10.00 for pigs. Cattle receipts 2300 with native beef cattle from 6.70 to 10.35 and cows and heifers from 3.50 to 9.15. Sheep receipts 500 with a strong market, wethers 6.75 to 8.25 and lambs 7.50 to 11.00.
Receipts and prices for hogs cattle and sheep. Hogs steady with bulk 9.55 to 9.70 and pigs 8.25 to 8.75. Cattle receipts 200 with prime fed steers 9.50 to 10.10 dressed beef steers 7.0 to 8.26 cows 4.50 to 7.50 heifers 6.00 to 9.50 stockers 6.00 to 8.00. Sheep receipts 6500 with lambs 10.00 to 11.25 yearlings 7.75 to 8.50 wethers 7.50 to 8.00 owes 7.00 to 7.75.
Receipts total 3000 hogs with market steady. Pigs and lights 8.50 to 9.85, mixed and butchers 9.60 to 9.90, good heavy 9.80 to 9.90, bulk 9.65 to 9.85. Cattle receipts 50 with prices unchanged. Sheep receipts 100 with market steady. Spring lambs 7.00 to 10.26, slaughter ewes 6.09 to 7.25, bleating ewes 9.00 to 10.00, yearlings 6.00 to 9.00.
Chicago August 5 butter and creamery prices rise with higher egg prices. Receipts total 7767 cases with firsts at 23 23 1 4 cents and ordinary firsts 22 2 2 3 cents. Potatoes gain with Virginia Virginia barreled at 2.70 to 2.80 and bulk 0.95 to 1.00. Poultry alive markets show fowls 17 17 3 cents and springs 18 to 20 cents.
Chicago wheat prices rose sharply on black rust reports and large flour sales to exporters. New highs for 1916 were touched while profits prompted weekend selling. Corn and oats followed wheat higher though late weakness appeared as weather stressed the belt.
Quotations today show Wheat at No 2 hard 1.29 to 1.85, No 2 red 1.32 to 1.38, Corn No 2 mixed and No 2 white 84 cents, No 2 yellow 83 to 84 cents, Oats No 2 white 44 to 45 1/2 cents, No 2 mixed 42 to 44 cents.
Kansas City futures closed steady with September at 1 30 percent, December Sonat at 81, and December at 0 percent. Chicago cash grain notes list mixed quotes for red, No 2 hard and corn. No. 2 yellow corn reported around 1.36, with oats and other standard grades mentioned in brief market update.
In St Louis quotations, grain prices were listed including Wheat No 2 red at 1 38 to 1 42 per bushel, No 2 84 percent 1 41, No 2 white 88 cents, Oats No 2 42 cents, No 2 white 44 to 45 cents.
Local packing house quotations show dry salt extras 15 percent and bacon extras 16 percent, with various bacon and ham prices for spread, lard and compound fats listed. New York coffee futures steady with Sept at 8.37 and Dec at 8.50. Elgin butter market reports fifty tubs at 28 cents, 29 cents bid on additional tubs.
A New York report outlines a novel payback plan for Federal Land Banks borrowers. The scheme fixes annual or semi annual payments covering interest and principal to extinguish debt in a set term, with optional extra principal payments after year five. It explains bond issuance, tax exemptions, bank organization, and agent lending, noting potential total lending capacity across all twelve banks and governance details.
Kansas market prices show butter at 26c for firsts and 23c for seconds, creamery 2%c, packing 21c. Eggs at 23c for first, poultry including hens 16c, roosters 10c, broilers 21c. New potatoes firm with Triumphs Kaw Valley early Ohios at 80c per bag in Louisiana Texas Arkansas Oklahoma regions.
New York, Aug 6. A dull, uneventful week on Wall Street concluded with fractional price changes and broad weakness. Mexican Petroleum led declines while United States Steel faced investor doubt after its statements and dividend, as motor, petroleum, and sugar stocks saw liquidation amid oversupply signals and production cuts.
Mercantile paper 3 to 4 percent. Sterling exchange steady with sixty day bills at 4.71 and demand 4.75. Cables 4.767 to 4.716. Guilders demand 41 percent, cables 41. BR silver 66 2/3 percent. Mexican dollars 51 percent. Government bonds steady, railroad bonds showing irregularity.
Buyers paid varying prices for San Antonio deliveries on Saturday. Country candled 21 cents per unit, butter 18 to 20 cents, creamery 25 to 300 per pound, packing rack 18 to 19 cents. Poultry steady with hens 5 to 6 dollars per dozen, friers 5 to 6 dollars, broilers 2.69 to 3 dollars, turkeys 15 to 16 cents per pound, ducks 4 to 5 dollars per dozen, geese 34.50 to 5.00 per dozen.
Observations reported by the U S Department of Agriculture at 7 p m on Saturday August 5 1916. The bulletin notes meteorological readings and conditions for the period and region covered by the station network. Data fields include temperature humidity wind and barometric pressure as part of routine weather reporting for the date.
Secretary Henry Hester of the New Orleans Cotton Exchange presents the weekly statement detailing movements of the cotton crop for the current week and the season to date. The report outlines shipment and arrival figures, inventory changes, and implications for market liquidity and price direction.
The British Islands liquor board official tells a Brooklyn Eagle delegation that prohibition in Scotland is impossible. Experience shows prohibition only works with broad majority support and within large self contained areas. Scotland’s drink culture, from monks to Burns, remains deeply rooted and sobriety grows without prohibition.
A San Antonio market watch questions if Texas gasoline and oil prices will drop as Kansas New York Missouri and Oklahoma refiners have recently cut prices. A Waters-Pierce Company representative says Texas fuel oils are already cheaper than justified by supply and San Antonio remains the lowest priced city due to competition. Dispatches from New York cite overproduction and ample crude in Oklahoma and nearby areas as drivers of declines, with Prairie Oil and Gas cutting ten cents to 1.25 per barrel and Standard Oil firms awaiting official word. Independent Texas Louisiana operators hint further reductions are likely, while local dealers have seen no cuts yet but expect downward revision at major distribution centers.
In Austin on August 5, insurers reported the state fire insurance commission's new cotton schedule, effective August 20, raises standards too high. Modifications may be sought. Houston insurer Carruth met with the commission but would not discuss specifics, signaling partial dissatisfaction from his company.
Bar silver 3016-164 per ounce. Money 44% per cent. Discount rates: Short bills 5% per cent. Three months 5% per cent.
In New Orleans on August 5 rough rice stayed nominal and clean rice quiet with no receipts and unchanged quotations. Sales noted include clean Honduras 770 pockets. A light exchange features playful lines about Like Father Like Daughter and a joking dialogue: Mr Stockson and Miss Stockson discuss options on a man named Bonds, with Miss Stockson securing a ten day option.
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