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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 23, 1916
Page
13
New York on August 23 reports renewed exporter inquiries for brown sheetings but mills remain firm, preventing large orders. Prices for brown sheetings trend upward while trading remains active for many cotton goods.
The cotton market shows a weaker opening with prices slipping early, but the decline is checked as buyers step in. A bullish weekly report hints at potential price support, suggesting cautious optimism for fiber traders.
The Aug 23 cotton market opened lower but rallied sharply, with New York and New Orleans futures up 14 to 20 points at mid-session. A bullish weekly condition report and fears of Atlantic storm damage supported demand as spot markets in San Antonio hit a seasonal high of 14.32 cents for middling.
Cotton prices extended losses and then rallied as traders weighed rainfall in the southwest against drought fears and a approaching tropical storm. October fell to 14.61 and January to 14.70 before midday, later spiking past 16.00 on strong cover and bull support with persistent weather uncertainty.
New York Aug 23 Bullish enthusiasm ahead of resumed trading sends United States Steel to a fresh high of 99 1 2 in the early afternoon with 12 000 shares trading at 98 1 2 to 98 1 2 Rails such as Union Pacific St Paul Great Northern Reading and Erie climb while Crucible and Lackawanna Steel and Mexican Petroleum rise. Some shipping and Willya Overland shares show losses as the market closes irregularly.
Poor cables and rains in Texas pushed prices down early but forecasts of fair western belt weather and bullish weekly crop reports spurred gains. By noon the market was 12 to 17 points above yesterday's close with March above the 15 cent mark as heavy buying lifted prices 21 to 23 points from the session low.
Union Stock Yards reports Aug 23 cattle market steadier with prices about unchanged and demand firmer. Receipts show 696 cattle 222 calves 271 hogs and 121 horses. local trade favored stockers with active demand while hogs edged lower from Chicago top $11.30.
Fort Worth Texas August 23 Receipts and quotations show cattle hog and sheep values. Cattle inclients steer prices from 6.00 to 7.25 stocker steers 6.00 calves 4.50 to 9.30 hogs steady lower bulk 10.10 to 10.25 sheep receipts 650 lambs 9.00 to 9.50 yearlings 8.00 to 8.80 ewes 6.00 to 6.75 goats 4.50 to 5.60.
Kansas City reports receipts and price quotations for meat markets. Mega and other cattle categories show steady to slight declines with mix of prime fed steers, dressed beef, southern cattle, cows, heifers, stockers, and sheep in varying ranges. Lambs, yearlings, and ewes also cited with price bands and totals of receipts.
Chicago market receipts show 23 total with beef cattle and sheep values. Weener and bulk cattle ranges listed, heavy and rough hogs priced from 10.20 to 11.18, cattle steady, beeves and cows and neiere ranges, stockers and western steers noted, calf prices up to 12.25. Sheep and lambs quoted at 6.30 to 7.80 and 6.75 to 10.75 respectively.
Chicago July grain futures opened steady as commission houses supplied demand limiting losses. December wheat traded around 1.52 to 1.63 dollars, aided by bullish Russian crop rain and Roumanian tensions affecting Dardanelles control. Corn and oats showed modest moves with mixed sessions and lard prices slipping after early gains.
Quotations from Chicago show No 2 hard red wheat at 1.54 per bushel. Corn No 2 yellow at 0.58 to 0.60. Oats standard at 0.45 to 0.46. Barley at 0.85 to 1.16.
The Cotton Region Bulletin reports for the 24 hours ending 8 a m on August 24 at 75th meridian time. Temperatures were near normal with rainfall of an inch or more in Texarkana Arkansas McAlester Oklahoma Fort Worth Texas Henrietta and Waco Texas. Allen Buell meteorologist Weather Bureau.
Galveston reports arrival of Domingo de Larrinaga from Liverpool. Vessels sailing include El Mar bound for New York, Burstud to unspecified port, Barrios, Ellin, and Marseille listed among outbound ships. Names indicate British and Greek interests among liner traffic.
In quiet trading Aug 23 the market shows Spelter and copper firming with electrolytic copper at 26.50 to 28.00, tin steady around 38.37 to 38.67, while iron remains unchanged and zinc steady. East St. Louis deliveries noted.
The London market lists lead at 30 pounds sterling, zinc at 66 pounds, copper spot at 110 pounds and futures around 107 to 108, electrolytic tin near 12k, and tin spot at 169 pounds with futures at 170 and 7s 6d.
Liverpool August 23. Cotton spot easier with good middling 9.22d and middling 9.08d while low middling 8.90d. Sales include 500 for speculation and export. Receipts 11,400.
The August 23 report from St. Louis lists wheat at 1.59 to 1.60 for No 2 red, No. 2 hard at 1.52 to 1.53, corn No 2 at 86 cents, No 2 white at 54 cents, oats No 2 at 43 1/2 to 44 1/2 cents, and No 2 white at 41 1/2 to 45 4/5 cents.
Hogs receipts 10 000 and prices to 11 20 for good heavy hogs with bulk near 11.15. Cattle receipts 7 500 with native beef steers 7.06 10.75 and prime yearling steers 8.50 9.00. cows 5.50 7.75. Texas steers 5.50 8.50. prime southern steers 8.00 9.00. Sheep receipts 2 000 with lambs 7.00 10.65 and ewes 6.00 7.25. yearlings 6.00.
Kansas City market notes list wheat prices for various grades with values around 1.49 to 1.55 dollars per bushel. Corn prices show No 3 mixed at 82 to 83 cents and No 2 white 88 cents. Oats prices include No 2 mixed at 46 to 46 and 42 cents.
San Antonio quotes show Mexican money and bank notes with bids and asks. York mercantile paper lists sterling rates 60 day bills 4.71 percent and demand 4.75 11-16, with bar silver and Mexican dollars cited as markets move, while government and railroad bonds are described as strong or steady.
Daily market notes show Fort Worth cattle sales with varied weights and prices led by ranch buyers, while New Orleans grain trading featured rough rice strength and steady clean rice. Honduras rough rice traded around 2.75 to 3.50 per unit with other exports listed and receipts tallied.
Kansas City grain futures closed with Wheat at Sept 1.4565 percent and Dec 1.47, Corn at Sept 1.14 cents and Dec 0.73 cents.
Futures were steady in Liverpool with listed contract quotes for August through August of the following year. Prices include August 8 95d and several September, October, and January futures ranging around 8.7d to 8.9d with minor daily variations.
New York August 23 time loans show easy conditions with 60 day and 90 day rates around 3 2 percent, six months at 3 percent. call money high at 2 percent and low at 2 percent with par rate at 2 percent and closing bids at 2 percent.
New Orleans market reports steady starts for cotton futures with open bids across months. October sits near 14.34, December 14.46, January 14.58, March 14.78, and May 14.91, as traders note a generally firm tone through midday.
Turpentine firm shows 42 percent sales with 421 receipts 762 ship ments 263 stock 18368. Resin firm posts sales 1935 receipts 2720 shipments unknown stock 66721. Weekly quote letters listed with prices including A B 5.78 and KM 6.35 among others.
A brief survey lists cotton activity across Gulf ports including Galveston Houston New Orleans Mobile Savannah Charleston Wilmington Norfolk and related shipping centers. The data outlines vessel movements and regional trade patterns for the period.
Washington dispatch notes weather and crop conditions for the week ending August 22. Sunshine improved the eastern cotton belt but rainfall shortage hit Oklahoma and adjacent districts. south Texas showers and hot dry north Texas hurt conditions with shedding, rust, and weevil damage noted. Cotton is opening, picking and ginning in the south. northern areas look promising except Oklahoma. corn improves except in northern regions. sorghum, sugar cane, sweet potatoes, rice look favorable with rice harvest underway. tobacco requires rain in the upper Ohio valley while other regions harvestes progress.
Bar silver at 319 16d per ounce. Money market shows 4 percent for short bills. Discount rates steady with three months at 5 percent.
New York August 23 cotton quotations showed various prices as traders awaited market cues. Buyers and sellers noted unsettled interest with rapid shifts in futures and spot values amid broad market caution.
Liverpool cotton dealers The Morgan Company announced it cannot meet the settlement scheduled for tomorrow.
Fresh country eggs remain scarce as demand holds strong in San Antonio. First quality eggs sell 24 to 28 cents per dozen with prices likely to rise. Storage eggs tighten, poultry and turkey prices advance, while bananas arrive in volume and pears sell at 1 to 1.25 per bushel.
Buyers paid varied prices for country produce in San Antonio on Wednesday. Butter sold around 25 cents per pound, country creamery products at 18 to 25 cents, poultry steady with hens and friers priced per dozen, turkeys and geese listed at several dollars per dozen and per pound ranges.
Chicago August 23 Quotations for butter show receipts of 11312 tubs with extras ranging from 28 31 3 1 2 to 34 1 2 cents per pound. Eggs unchanged with 10119 cases received. Potatoes rise to 1.07 for bulk cobblers. Minnesota and Early Ohio varieties listed at 1.05. Poultry alive steady with slight deviations up to 20 2c. Cheese unchanged.
Quotations today list Potter creamery at 28 cents, firsts 26, seconds 23, packing 23. Eggs at 25 cents for firsts. Poultry prices show hens 14 cents and roosters 10 1/2 cents, broilers noted. Kaw Valley early Ohios at $1.
Quotations from a local packing house list dry salt extras at 16 cents per pound and bacon around 17 cents. Dry salt bellies 14 to 16 pounds average 18.14 cents, fancy breakfast bacon and hams noted. Pure lard 15 cents per pound, compound lard also listed.
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