Cotton Market Sees Stronger Day Across Cities
Quotations from principal spot markets show improved activity. Middling prices are listed for San Antonio Houston Galveston New York New Orleans and Liverpool with deliveries at urban markets.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Dec 22, 1916
Page
11
Quotations from principal spot markets show improved activity. Middling prices are listed for San Antonio Houston Galveston New York New Orleans and Liverpool with deliveries at urban markets.
The Cotton Exchange opened with a sharp rally after Secretary Lansing's explanation improving sentiment. By mid-day gains softened but a strong close left prices higher from yesterday. New York and New Orleans closed 8 to 23 points up. San Antonio spot at 15.32. Holiday closings noted for several exchanges including Liverpool, New York, and Chicago.
A brisk rise in cotton prices followed Secretary Lansing's explanatory remarks signaling improved international conditions. Early gains faded after Liverpool selling and late-day liquidation, with March and May futures slipping from intraday highs before closing steady.
Cotton futures opened steady in New York with December at 16.06 and January 16.20, while March 16.49 and May 16.66 led gains. Futures closed about 23 points higher after a day of varied highs and lows as Liverpool anticipation looms for Saturday.
In New Orleans on December 22, the cotton market opened with a firm tone as Liverpool held back and buyers pressed long positions. Prices rose about 87 to 51 points in early trading before selling intensified, trimming gains and causing a midday retreat. By close, the market finished about 21 points higher than yesterday.
Futures closed nearly even to gains led by May and July contracts after a day of scattered quotes. Prices showed little consistent direction as traders weighed slight increases against earlier lows, with notable activity in the May and July series.
Spot cotton prices on December 22 show Good Middling at 10.19 cents per pound, Middling 10.09, Low Middling 9.93 with 5000 bales traded and 11000 bales in reserve or for shipment, reflecting market weak sentiment.
Liverpool markets close with a list of futures prices for multiple month pairs from December through November, showing small variations around 9.3d to 10.1d and steady trading conditions. Prices include December 9.9d, January 9.854d, February 9.86d, March 9.982d, April 10.034d, May 10.094d, June 10.09d, July 10.094d, August 9.82d, September 9.624d, October 9.42d, November 9.34d, December 9.30d.
Liverpool December reports show weekly cotton forwards to mills at 73 000 bales with 66 000 American. Total stock stands at 784 000, including 616 000 American. Imports reach 161 000 with 112 000 American.
Union Stock Yards Dec 22 cattle market described as irregular with Fort Worth down 10 to 15 cents while other centers reported steady or strong hogs and sheep steady. City trade receipts show cattle 124 hogs 136, with prices for steers and cows listed and notes of no market on Christmas day. Fort Worth market cited lower cattle by 10 to 16 cents, with ranges for steers, stockers, cows, and calves plus hogs, lambs, and lamb prices.
The Federal Farm Loan Board, reviewing 150 cities for the twelve new farm loan banks, focuses on Houston Texas as a contender. Baltimore Charlotte New Orleans Hutchinson Kansas are also regarded as likely locations. Board plans to announce six sites within two weeks.
Prices paid for Dribaes produce delivered in San Antonio show lower market values. Butter steady at Texas Creamery 30 84¢ per pound. country 25 28c. packing stock 24 26c. Poultry mostly down with hens large 6.00 7.00, friers and broilers mixed, turkeys 21 22c per pound, ducks 6.00 7.00 per dozen, geese 10.00 12.00.
Quotations today list butter at 40 4 cents for creamery firsts 39 cents seconds 27 28 cents and 8 cents for eggs. Poultry prices include ingle brand ice eed er roosters 12 ½ percent, turkeys at 24 cents. Potatoes steady near 1.45 to 1.50 per unit.
Butter steady with 82 percent creamery at 88c. Eggs steady with 2803 cases received. firsts and ordinary firsts noted at 35 60c per case. Potatoes steady with 26 carloads received. White potatoes in multiple states mainly $1.60 to $1.76, Wisconsin white at $1.40 to $1.50. Poultry alive weak with fowls 14 to 17c, springs 17c, turkeys 24c.
Washington December 22 press reports ICC suspended proposed cotton price increases of 5 to 16 cents per hundred pounds for shipments from Louisiana to New Orleans for export. The order now covers additional producing points along the Texas and Pacific Railway not listed in the original ruling.
New Orleans futures report from New Orleans La recalls the cotton market opening steady on December 22 with January 1691 futures noted in early trading.
Kansas City livestock market summary with receipts of hogs cattle and sheep. Hogs receipts 4000 and steady prices range bulk 9.75 to 10.20 heavy 10.16 to 10.30 ackers 16.00 to 18.26 light 9.60 to 10.10. Cattle receipts 1000 with steady values prime fed steers 10.60 to 11.25 dressed beef steers 7.50 to 10.26 southern steers 16.00 to 8.50 cows 5.25 to 9.25 heifers 6.00 to 10.50 stockers 5.75 to 8.00 calves 6.00 to 11.00. Sheep receipts 2000 with steady market lambs 12.25 to 13.15 yearlings 10.60 to 11.50 wethses 8.76 to 9.50 owes 8.00 to 9.00 stockers 6.00 to 12.00.
Chicago price report shows hogs with 80 000 receipts and a strong market up five cents from yesterday. Cattle receipts at 8000 with native beef 7.00 to 11.76, western range 7.00 to 10.00, stockers and feeders 5.00 to 8.88, cows and heifers 3.85 to 10.00, calves 8.00 to 11.75. Sheep receipts 6000 with wethers 9.00 to 10.00 and lambs 11.25 to 13.40.
Receipts and quotations show hogs at 14 000 with market steady to ten cents higher and lights pigs mixed and butchers up to 10.65. Cattle receipts 2506 with prices for native beef steers up to 11.50 and prime southern beef steers 9.00. Sheep receipts 1700 with lambs 13.00 and yearlings 11.25 per hundredweight.
In Savannah on December 22 reports show turpentine firm 52 percent sales with 219 receipts 356 shipments and stock 22 cents 79. Resin firm records 3806 receipts 1361 shipments 1571 with Meek noted 92 228 and various price listings including $6.10 to $7.00 for related goods.
Wheat prices rose on expectations of renewed redemand and a British buying note. Futures closed 2 to 4 percent higher as May and July contracts reached about 1.67 1.68 and 1.88 1.89 dollars respectively, while corn followed with scattered gains and renewed firmness after initial declines.
The report notes wheat higher with No 2 hard at 1.60 to 1.70 and No 2 red at 1.61. Corn holds at 48 to 89 cents for various classes while oats stay steady with No 2 white about 63 to 64 cents and No 2 mixed around 62 to 52 cents. Rye trades near 1.30 to 1.
Grain futures closed with wheat Dec at 1.674 and Marfin 65 percent while corn Dec settled at 89 cents and May at a higher price. The report notes fluctuating prices in Chicago trading for December wheat and corn contracts.
Chicago quotations list No. 2 red wheat at 1.68, No. 2 hard nominal, No. 2 yellow corn and barley at 5c per unit. Market notes include slight shifts with limited steady demand and ample supply.
Wheat gains with No 2 red at 1.80 and No 2 hard around 1.74. Corn climbs to 91 8 cents for No 2 and white variety. Oats advance with No 2 at 62 cents and No 2 white listed nominal. Rye steady at 1.38 in St Louis quotations.
The Weather Bureau reports wind velocities under five miles per hour with light gusts. The notice lists advertisements for Portage Tire Co and a Christmas aero price range from eight to forty dollars.
Local packing house quotations list dry salt bacon and bellies at 14-16 pound averages around 14 to 19 cents with fancy breakfast bacon 28 cents and hams 22 cents. Lard and compound fats price around 16 to 17 cents. American cheese quoted at 27 cents per pound.
New York sugar markets opened inactive but steady on covering. By noon, prices were unchanged to four points higher as raw sugar stayed quiet and centrifugal sugar traded around $5.14 with refined dull demand and granulated near $4.27.
In New York on Thursday December 22 it reported easier conditions in the gray goods division with cotton goods softer and raw silk also easier. Yarns softened while men’s wear openings drew steady buyer engagement for fall goods.
Major Thomas F Dwyer is relieved at Letterman and heads to Fort Sam Houston. Major Henry H Sheen is relieved in the Southern Department and proceeds to Fort Meade before heading to Hawaii. Second Lieutenant James B Shaum and Lieutenant Colonel John B Bennett are relieved and reassigned, with Bennett moving to Washington via Fort Sam Houston. Captain William L Cow, retired, is detailed to recruiting service in Dallas.
Dallas business leader Maynard Samis stays at the St. Anthony while T M and Mrs Pyle of Longfellow check into the Gunter. Guests include Paul L Graf of New York at the St. Anthony and G Domingues of Mexico City at the Gunter. George H Meliss and family visit the Menger, with others from Austin Tulsa Chicago and Manila staying at local hotels.
Trading in Mexican money in San Antonio on Friday showed quotations for various notes. The report lists rial and peso values with references to state bank notes and national bank notes.
New York December reports mercantile prices for 60 day bills at 4714 and 471, commercial 60 day bills to banks 471, demand 475%. Cables show Te Franca demand 58414 and cables 588%. Guilders demand 40% and cables 40%. Silver and Mexican dollars noted with values 584 and 584 respectively. Government bonds steady and railroad bonds firm.
New York notes reflect time loans at ninety days with 44 percent and 44.6 months calls. High 4 low 2 ruling rate 4. Last loan 4. Closing bid 24 percent, offered at 38. Markets show mixed bank bid and offer activity.
London markets report bar silver at 36 19 16d per ounce with money rates at 4 percent. Discount rates listed show short bills at 5 percent, three months at 5 4 percent, reflecting a fluctuating treasury market.
New York December 22 reports exchange quotes with copper at 7.42 percent, spelter quiet, spot East delivery offered at 10, Cowper nominal with electrolytic first second and third quarters priced 30.69 and 92.50. Iron steady and tin weak with spot offered at 40.76.
London market report lists several metals with quoted prices in pounds sterling. Lead at 30 pounds 108 shillings, Spelter 62 pounds 16s, Spot copper 141 pounds 1s, futures 185 pounds 10s. Electrolytic 154 pounds, pot tin 177 pounds, futures 179 pounds.
Friday wholesale price changes show Texas tomatoes up to 1560 per 4 basket crate and sweet peppers at 1 per 4 basket crate, with California lettuce at 3 per crate. Limes drop to 1 per small basket while other staples like poultry butter and eggs stay steady.
Oklahoma City daily cattle sales show 800 head steady with hogs at 1400 head. price shifts include top hogs at $10.20. Notable lots include Steers around 986 pounds at 7.50 and a 755 pound lot at 4.85, with other entries from Clinger Senet Oxkla and Grieves Solas. Brown, the chief creditor, is dead. the comment hints at burial.
New York trading opened with industrial shares rallying as United States Steel climbed to 104 and other steel issues surged. Rails followed with gains, while volume reached about 1.7 million shares as prices steadied after early gains.
The 100 largest national banks raised resources by about 650 million dollars, roughly 9 percent, between September 12 and November 17. New York leads with 25 banks, followed by Pennsylvania with 16 and Missouri with 8. Texas shows the biggest rise, over 33 percent, adding more than 6 million dollars, with notable gains also in Dallas, New Orleans, Kansas City, Philadelphia, Chicago, Cleveland, Pittsburgh and Boston.
In New York trade on December 22, coffee futures showed only slight gains as buying interest emerged. March futures traded around 6.01 cents and May near 5.1 cents, with prices showing a barely steady tone amid thin activity.
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