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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 14, 1916
Page
9
Heavy rains hit the eastern section worsening conditions for cotton traders in Liverpool. Market analysts note higher rates as rainfall impacts harvest and supply, with merchants warning of continued volatility through the season.
The market opened with a bullish tilt as rain variables and boll weevil damage cloud the crop outlook. New Orleans and New York showed gains despite late session declines while Liverpool and other centers posted higher closes. J J Covington of the San Antonio Cotton Exchange plans to open a Tyler Texas site and continues work in Corpus Christi.
The New York cotton market firmed this morning as strong cables and bullish advices lifted prices, with December trading around 14.45 and 14.47 intraday after an opening gain of 15 to 18 points. Private cables showed little Liverpool selling while New Orleans activity and hedging pressures affected early gains, but later steadiness emerged on weather reports of Oklahoma heat and no rainfall.
Cotton futures opened firm on August 14 with values for August at 14.12, October 14.20, December 14.47, January 14.68, March 14.74, and May 14.85. The market closed steady with intraday highs and lows noted. the 11 o clock call reports Liverpool open Tuesday with prices down about 12 points.
In New Orleans the cotton market opened higher as tropical disturbance risks in the West Indies and improved cables spurred buying. Prices advanced 20 to 238 points, later showing nervous swings. By noon trading months held small gains before softening on railroad labor worries.
New Orleans August 14. Cotton futures opened steady with first bids showing October at 14.16, December 14.36, January 14.44, March 14.63, and May 14.78. The session noted a close around 13.94 to 14.35 with mixed nearby activity.
Liverpool cotton market shows robust demand with prices at middling 8 3 4 d and low middling around 8 1 8 d. Speculative activity lifted export trades to about 15,000 bales as buyers push for contracts.
Prices on the Liverpool futures market show steady movement across the forward curve. The report lists successive August through July contracts with small daily variations, indicating a stable trend and tight spreads among neighboring segments.
Firmness and strength mark Monday trading along Produce Row as supply meets demand. Prices range from 2.75 to 3 per hundredweight, with California arrivals scarce and Colorado not yet started. Kansas offerings mostly sold out. carload shipments expected to ease shortages.
Buyers paid various prices in San Antonio on Monday for country produce. Eggs steady at 24 cents a dozen for candied, butter at 25 to 30 cents per pound creamery, country 18 to 20 cents, packing stock 18 to 19 cents. Poultry steady with hens 6.00 to 6.50 per dozen, large fryers 5.50 to 6.60, broilers 3.00 to 3.50, turkey 16 to 17 cents per pound, ducks 4.00 to 5.00 per dozen, geese 4.50 to 5.00 per dozen.
Quotations to play were as follows Butter firm receipts 12 967 tabs Creamery extras 29c extra firata 254 Sec firsts 27 27%c seconds 26% 626 %c Kees steady receipts 7652 cases Firsts 23 24c ordinary firsts 22 23c at mark cases included 19 23c Cheese unchanged Daisies 15% 16c horns 16 116%c Americas 16 16%c Twins e Potatoes weak receipts 75 cars Jersey cobblers 1.00 1.10 Virginia barreled con Hers 3.00 3.50 Illinois Missouri and Mooultry weak Fouls 14 1¢%c Sprt cultry weak wise Springs 19 20%e.
Chicago prices eased as the Canadian estimate for a 230 million bushel wheat crop weighed on futures. September soft traded near 1.41 to 1.37 dollars as profit taking and weather concerns influenced grains, with corn and provisions following wheat’s cautious tone and hogs dragging pork futures.
Chicago quoted grain prices on August 14 with Wheat at 1.43 to 1.444% for No. 2 hard at 1.42% to 1.4, Corn No. 2 at 88% to OO, Oats Standard at 43 to 44, and Barley at 0.98.
Kansas City market quotations list butter prices and poultry values with creamery butter at 28 cents firsts 26 cents seconds 28 cents packing stock 21 and one third cents Fees firsts 21 cents hens 16 and one half cents roosters 10 and one half cents broilers 21 cents new potatoes firm in several regions including Louisiana Texas Arkansas Oklahoma Triumphs and Kaw Valley early Ohios at 1 dollar and ten cents per unit.
Quotations listed for August 14 show values for No. 2 red corn at 1.44 with 1.47 percent, No. 8 hard red pea at 41% with 1.47 percent, No. 2 at 86 percent, and No. 2 white at 86 with 41% to 42% and No. 2 white at 43 percent.
Kansas City quotations show No 2 hard wheat at 1.871 1.43 dollars and No 2 red at 1.381 1.46. Corn bids include No 2 mixed 82 838 cents, No 2 white 2 cents, No 2 yellow See. Oats list No 2 white 46 cents and No 2 mixed 4 46 cents.
Cotton seed oil quotations today in New York were reported with market activity showing price directions and trading levels for key grades, reflecting the crude oil price mood and supply conditions in the trade.
Grain futures closed in Kansas City with Wheat at September 1.31, December 1.35. Corn stood at September 89.0 and December 78.0 cents per bushel.
Local packing house quotations issued Monday list dry salt extras at 16 or 17 cents for bacon extras. Dry salt bellies 14 to 16 pound average at 18 cents. Fancy breakfast bacon 27 cents. Fancy hams 21 cents. Bacon bellies 14 to 16 pound average at 20 cents. Pure lard 15 cents and compound 11 cents.
Lead firm at 6.09, Spelter steady, spot East St. Louis copper firm around 26.00 to 27.00. Tin strong at 40 to 41 cents. Copper and tin prices shown for various grades and locations with typical market spread notes.
London market notes show lead at 29 pounds sterling 1 cent, spelter at 49 pounds, copper spot 116 pounds, futures 113 pounds, electrolytic 125 pounds. Tin spot 178 pounds 108 shillings, futures 174 pounds 10 shillings.
Findlay reports The Ohio Oil Company reduced prices by five cents on six grades of oil and twenty cents on Plymouth Oil. New rates list North and South Lima at 1.43, Indiana 1.28, Wooster 1.65, Illinois and Princetonia 1.47, and Plymouth 1.18.
Raw sugar un gettied as of Aug 14 in New York with centrifugal at 5.64 and molasses 4.87. Refined grades ease by 25 points. Cut loaf 8.15, crushed 88.00, moulds and cubes, powdered 7.10, fine granulated remain unnamed.
Cotton receipts for Saturday topped 1000 bales as Travis and nearby counties see rising business activity. Prices ranged from 14 1/4 to 14 1/2 cents a pound for middling cotton. Farmers hold for 15 cents while picking begins on most farms.
At Union Stock Yards Aug 14 the cattle market held steady with a light supply. Of 1870 cattle, 250 were billed. steers brought 5.60 to 6.00, cows 5.50 to 6.00, calves 6.00 to 7.00, and a few hogs sold 8.00 to 9.50. Receipts: cattle 250, calves 68, hogs 87.
Cattle receipts 3000 with prices ranging Reeves 6.00 to 7.00, stockers 5.50 to 6.75, cows 4.00 to 5.76, heifers 5.50 to 7.50, bulls 4.00 to 6.00, calves 5.00 to 9.75. Hogs receipts 3700 with market 10c lower. heavy 9.80 to 9.85, medium 9.70 to 9.80, mixed 9.60 to 9.70, night 9.60 to 9.80, common 7.00 to 8.00, pigs 4.50 to 7.75. Sheep markets show Lambs 9.00 to 9.60, yearlings 8.00 to 8.60, wethers 6.75 to 7.26, ewes 6.00 to 7.00, cattle goats 4.50 to 6.60.
Chicago on August 14 reports hog receipts 46 000 with slow market and bulk at 9 80 to 10 35. light 9 80 to 10 48. mixed 10 50. heavy 9 40s. pigs 8 20 to 9 60. Cattle receipts 18 000 steady with beef cattle at 7 00 to 10 80. stockers 5 00 to 7 85. calves 9 00. Sheep receipts 25 000 weak with natives 6 50 to 7 80. western 6 75 to 7 80. yearlings 7 40 to 8 65. lambs 7 28 to 11 10.
Receipts total about 11 000 hogs with prices from 7.75 to 10.30 for various grades. Cattle receipts near 9 500 with native beef steers from 7.00 to 10.25 and cows around 4.60 to 9.00. Sheep receipts about 4 000 with lambs near 10.50 and ewes around 5.00 to 10.00. Market remains steady across categories.
Receipts and prices for hogs cattle and sheep in Kansas City show hogs 12 000 receipts with prices around 10 15 per cwt, cattle at 21 000 receipts and steady to mixed bids, prime fed steers 9 25 to 10 35, dressed beef 7 25 to 9 00, cows and heifers 4 50 to 9 50, stockers 6 00, sheep lambs around 10 90 to 19 90 and related items with varied demand.
Cattle sales reached 21 000 head with 40 cars quarantined as markets stayed steady. Average weight and price indicate steers around 59 hundredweight and 60 dollars per hundredweight, with consignor details noting Robertson of Seonton Oklahoma among listed buyers.
Oklahoma City receipts show cattle at 1600 head steady while hogs number 1200 and trade is about 20 cents lower with top at 9.80. In Shreveport agents of the U.S. Department of Agriculture meet for their southern cattle work conference, conducted privately ahead of the Southern Cattlemen's convention opening Wednesday for three days.
On August 14 trading opened with no clear fear over the railway labor dispute. Read ing and Union Pacific eased fractionally, United States Steel fell modestly, and An glo-French issues offered at slight concessions. Bethlehem Steel led gains with a notable rise, while Raeding strengthened and oils advanced on moderate buying as the session closed firm.
Mercentile paper 8 percent. Sterling exchange 60 day bills 4.71 percent demand 4.76 11 16 cables 4.76. Guilders demand 41 7 16 cables 41 7 16. Silver 66 2 3. Mexican dollars 51. Government bonds steady. Railroad bonds irregular.
W W Flannagan of New Jersey is appointed secretary of the federal farm loan board in Washington guiding its executive work. A Democrat with deep knowledge of the measure he previously analyzed the new law and has a banking background including Charlottesville and New York institutions.
At a stockholders meeting in Austin on August 14 the Travis County Bonded Warehouse Company voted to increase capital stock from 4000 to 5000 dollars to fund operations for the current season. The warehouse handles a capacity of 2500 to 3000 bales of cotton.
The Standard Oil Company of New York cut refined petroleum export prices by ten points. Refined in cases now 11.25 cents per gallon, in tanks 6.5 cents, and standard white in barrels 8.85 cents.
Vollmer's OK131 won the opening race of the young bird series from Linton Texas. F J Onion's OK1875 finished close second and G F Taubert's OK2515 third. J L McAlvey released the birds at 7 am Sunday as birds began a fast race home. Next week a flight will be from Kingsville Texas. The record followed.
The annual Texas Launderers Association convention opened in Galveston with about 160 laundrymen from across the state in attendance. Sessions will continue through tomorrow.
The bulletin outlines 24 hour weather for Houston district stations ending 8 a.m. 75th meridian time. Conditions are generally fair with temperatures near normal. rainfall above an inch reported at multiple sites including Jackson and Rosedale in Mississippi, Hernando, Holly Springs, Calico Rock, Eldorado, Osceola, Wynne in Arkansas, Natchez, Columbus in Mississippi, and Warrenton in South Carolina. Meteorologist All en Bue signs the report.
Kenedy Texas reports around 100 bales of new cotton received this season. The staple is selling near 15 cents on the local market with buyers noting steady demand and prices.
Columbus Ohio August 14 millers raise flour prices by sixty five cents a barrel. Current price levels show Winter Patent $7.80 blended $8.20 and spring patents $3.3 per barrel.
New York August 14 Coffee futures held steady as September contracts posted 8.71 cents per pound and December at 8.79 cents. Market watchers noted little price movement with demand and supply factors staying balanced.
James S Day and Harry Matlock tied for first with 49 of 90 in a windy trap shoot at the fair grounds Sunday. A H Wilkins 45, Dr Bailey 44, Sergeant Geyer 40, and G H McKaskill 25 led a day of improving scores as local shooters resume after bad weather ahead of the fall season.
In New Braunfels Texas on Sunday the Potchernicks of the San Antonio City League were shut out 1 to 0 by the local Tigers. Dutch Ludwig pitched superbly for the Tigers fanning fifteen as Gotthardt and Heim handled the battery for Potchernicks. Roth drove in the only run with a third inning single after a walk and stolen base.
A judge questions Rev. Mr. Jones who protests an annual fee rise from $700 to $800. Jones says he has enough trouble collecting the current $700 and refuses the increase. The exchange highlights pressure on clergy from fee demands.
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