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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 01, 1917
Page
11
The daily quotations for spot cotton prices are provided as a guide for buyers nationwide. Middling grade is given with delivery locations including San Antonio Houston Galveston New York New Orleans Liverpool. Prices reflect delivery at the markets unless otherwise noted.
The cotton market plunged as German naval war policy was announced. Prices fell sharply at opening with further declines through the afternoon. New York closed 211 to 254 points down. New Orleans 269 to 335 points down. San Antonio spots quoted at 15.60 cents.
The German blockade announcement stunned the cotton market with sharp swings. May futures spiked, retreated, and fluctuated wildly amid heavy selling and liquidation. Prices moved from around 12.50 to 17.00, then slid, ending the session feverish and volatile.
Feb 1 report shows March to December futures sliding, with declines of 211 to 254 points noted. Early call flags weak open. Liverpool set to open Friday with prices seen 85 points lower, following an 11 o'clock call.
The New Orleans cotton market opened February 1 with steep declines as Germany announced unrestricted naval warfare. March futures fell 113 points to 16 cents, later trading down to 12.90 cents, a net drop of about 42% from yesterday. May July and October also declined before partial recovery and a closing steady lower by 2.33 to 2.80 points.
In New Orleans on February 1 cotton opened unsettled with March teas bids unknown and May July October futures showing high 269 to 335 points. Prices listed include close 14.44, 14.50, and 14.55 with regional figures across Galveston state readings.
Liverpool spot cotton shows moderate demand with Good middling 11.13, middling 11.03, and low middling 10.85. Sales total 7,000 with 1,000 bales received. Futures close unsettled with February around 10.15 and subsequent roll values from February to January contracts.
Raw sugar prices showed little change but unsettled by a German note. Molasses traded at 4.02 per hundredweight and refined sugar near 6.75. Futures fell 6 to 10 points as liquidation pressured values at midday.
Marine intelligence from Galveston dated February 1 reports schooner Irma Bentley sailing to New York. New York dry goods prices for February show cotton goods steady in unfinished lines, finished goods steady. woolen fabrics firm and quiet.帽 worsted yarns firm with steady demand.
Germany's move for unrestricted sea warfare triggers a dramatic wheat collapse in early trading with a 15 percent drop and frantic activity in the pit. May and July futures swing between losses and brief rallies, while corn and oats fall modestly and pork, lard, and ribs plunge in the provisions market amid spreading rail embargoes and tense Washington-Germany relations.
In Chicago on February report day, quotations listed cash wheat for No. 2 red and No. 2 hard nominal, with No. 2 yellow at Standard 52 53 cents. The Saturday price shown as $1.00 to $1.27.
Kansas City market quotes show wheat falling by two to six cents with No 2 hard at 1.64 to 1.71 and No 2 reefer at 1.66 to 1.69. Corn prices slip two and one half cents with No 2 mixed at 94 to 95 cents, No 2 white 94 64 cents, No 2 yellow 94 5 cents. Oats decline one to two cents with No 2 white 55 56 cents, No 2 gis 55 5 cents. Rye at 1.40 per bushel.
Kansas City ore reports grain futures moving as May wheat rises to 1.66 and May corn at 94 and 92 1/2 cents, with July wheat at 27 cents and July corn at 92 1/2 cents. Market activity shows ongoing price adjustments in the futures pits.
In St Louis on February 1 quotations show wheat softening with No 2 red and No 2 hard around 74 and 56 2 3 cents respectively. Corn declines with No 2 at 56 and No 2 white near 96 96 cents. Rye holds steady at No 2 nominal.
Savannah market notes show turpentine dull with 51 sales none and 16 651 stocks after receipts 31 and shipments 110. Resin firm reports sales 662 receipts 284 shipments 1411 and stock 77 466 with quoted price around 6.90 per unit.
Austin reports state banks and trust companies show total deposits of 160 416 951 at December 27 1916 down 2 669 316 from November 17 1916. Total resources declined to 206 396 990 a drop of 3 026 475 while loans and discounts rose to 51 292 656 up 3 257 401.
Buyers paid varied prices for country produce delivered in San Antonio and Beaumont areas. Butter and creamery products ranged around 30 to 34 cents per pound, with poultry prices including hens and fryers listed at several dollars per dozen and per pound. Turkeys and geese were also priced, reflecting a snapshot of market values for Thursday trading.
Quotation summaries from Kansas City list butter at 41c for creamery, 9c for firsts, 26c for packing. Eggs at 38c for firsts. Poultry prices show hens 19c, roosters 13c, turkeys 25c. Potatoes 2.
Market reports show bacon at 27 cents, bellies 14 to 16 pounds averaging 20 cents, pure lard at 14 to 7 cents per pound, and American cheese at 27 cents per pound. Listings note extra charges and varied weights amid tense supply conditions.
A terse post of cotton stock figures for cities including Galveston Houston New Orleans Mobile Savannah Charleston Wilmington Norfolk New York and Boston shows total stock 1 364 590 with declines from last week and year. Coffee futures in New York are listed with No 7 and March May prices around 10.43 cents.
The Union Stock Yards report Feb 1 shows northern cattle flat at most centers except Chicago weak and Kansas City strong. Hogs rise in Chicago Kansas City and St Louis, steady to down at Fort Worth, best gains in St Louis. Sheep firm except Oklahoma City. Kansas City leads with 10 to 20 cent gains. Local market steady to strong for cattle and hogs with unchanged prices overall.
Fort Worth reports cattle receipts 4300 with prices from 6.50 to 9.26 per hundredweight and mixed feeder and calf values. Hogs receipts 6000 with markets steady to five cents lower, bulk 10.40 to 10.80, top 11. Sheep receipts 200 with strong market. lambs 12.50 to 18.50, yearlings 11.00 to 12.00, wethers 9.25 to 9.75, ewes 8.50 to 9.26, calves 6.00 to 7.00, goats 3.50 to 6.50.
Receipts and quotations show hogs 28 000 for tomorrow with 15 to 20 cents above yesterday, bulk around 11 75 to 12.00, grade ranges up to 12.20 for heavy hogs. Cattle receipts 5 000, native beef cattle 7 75 to 11 95, westerns 7 75 to 10 15, stockers 9 10, cows and heifers 5 00 to 10 50. Sheep receipts 10 000, market up to ten cents, wethers 10 25 to 12 50, lambs 11 55 to 14 50.
Receipts and quotations for hogs cattle and sheep shown. Hogs 7000 received. bulk 11.75 12.05, heavy 12.00 12.10, packers and butchers 11.85 12.05, lights 10.60 11.50. Cattle 7000 receipts including 100 southern. prime fed steers 11.25 11.75, dressed beef steers 8.50 9.50, southern steers 7.00 9.50, cows 6.00 9.50, heifers 7.00 11.00, stockers feeders 6.75 10.00, calves 7.00 over 10.00. Sheep 2000 receipts. lambs 12.50 14.50, ewes 10.00 11.00, yearlings 22.00 12.00, stockers and feeders 7.00 13.76.
Hogs receipts 11 500 with prices 25 to 36 cents higher. Lights porkers 11.79 to 12.10, sows 9.25 to 11.66, mixed and butcher hogs 11.75 to 12.26, heavy food hogs 12.15 to 12.26, bulks 11.85 to 12.70. Cattle receipts 3 200, market steady. Native beef steers 7.50 to 11.75, yearling steers and heifers 3.50 to 11.50, cows 5.50 to 8.75, stockers and feeders 5.30 to 8.60, Texas quarantine steers 5.50 to 9.60, prime southern beef steers 8.00 to 11.00, beef cows and heifers 4.25 to 9.00, prime yearling steers and heifers 7.50 to 10.00, native calves 6.00 to 14.50. Sheep receipts 700, market strong. Lambs 12.75 to 14.50, ewes 3.50 to 10.60, yearlings 11.00 to 12.25.
Oklahoma City Feb 1 cattle sales list a steady market with 1509 head. Steers top at 11 dollars, hogs run around mid six dollars. Saunders and Danamorto of Oklahoma report 1030 head at 8.60 and 6.75 respectively, with Ravle of Okla posting 31 steers in the mix.
Chicago February 1 twelve dollars the highest price since the Civil War was paid for five hogs at the Union Stock Yards today. The sale underscores tighter hog supplies and strong demand as buyers compete for prime animals.
Kansas City report says commission men at the stock yards paid 11.90 dollars per hundred pounds for two carloads of hogs, setting a new record. The sale occurred on a Wednesday, reflecting strong demand and high prices for pork supplies.
The Interstate Commerce Commission in Washington has suspended from February 1 to June 1 the new class rates proposed by Texas carriers for routes within Texas and to Oklahoma. The action follows the Shreveport decision and may extend to Kansas Arkansas and Louisiana. Many proposed rates exceed current Texas class rates.
Kansas City Mo on February 1 reported that January bank clearings totaled 584 million dollars, 41 million above October’s record and 233.5 million more than last January, according to the Kansas City Clearing House Association.
G. L. Taft reports the season’s first strawberries at $6 per crate of 24 pints with fine crowns, while Asherton crops show good conditions. Eggs rise 4 cents to 40 to 41 cents a dozen. poultry receipts remain light with steady prices. Butter steady. flour down 20 cents a barrel to $8.60-$9. California potatoes rise. onions up to $9 per hundredweight. radishes at 40 cents per dozen bunches.
Prices to trade for tomatoes onions and peppers from California Texas and Florida. Includes crates barrels and per hundredweight rates for celery cabbage cauliflower lettuce and more. Also shows canned goods flour meats and nuts with conditions and bulk versus job lot pricing.
In New Orleans on February 1 rough and clean prices remained steady with unchanged quotations. Receipts were 621 rough sacks, 631 millers, 5458 clean pockets, while sales included 202 pockets of clean Honduras.
The Robert B. Green Memorial Hospital held a public opening and afternoon reception from 2 to 10 PM Thursday. Hundreds visited by streetcar and car, with Mayor Brown, city and county commissioners present. Moving patients into the building postponed to Friday or Saturday due to severe cold. County Agent Ross Boles and assistants inspected wards and furniture to ensure readiness.
An informal reception for Mrs. Genevieve H. Walsh of New York City, supreme grand regent of the National Daughters of Isabella, will be held Thursday night at the Knights of Columbus Hall. She is in Texas to form a state organization, with the first convention slated for San Antonio in May.
A luncheon at 1 PM on February 7 at the Young Women’s Christian Association Cafeteria honors Margaret T. Russell, Moody Bible Institute extension teacher, who will give bible lectures in San Antonio February 7 to 14. Proceeds support preservation. contact Mrs. Floyd McGown or Mrs. J. B. Jarratt. Public invited.
Lead is quoted at 25 cents asked with spelter unsettled. Spot East St Louis delivery 9 9 to 9 9 and copper remains firm at 29 509 32 for electrolytic across first to third quarters. Tin unsettled with spot at 47 050. Iron is steady and unchanged.
London at Feb 1 reports lead at 30 pounds per ton, spelter 153 pounds 15s, copper spot at 134 shillings 6d, futures at 130 pounds 5s. Electrolytic copper at 145 pounds. Tin spot at 195 pounds 6p, Tin futures at 19 shillings 6d.
The census bureau reports for the five months ending December 31 totals include cotton seed received 2,834,518 tons rushed 2,323,191 on hand 744. Crude oil produced 700,14,202 pounds on hand 102,275,451. Refined oil produced 609,924,081 on hand 199,772,950. Sinders produced 626,629 equivalent 500 pound bales on hand 6.81. Pole of oil 2,293,876 pounds exports of sinters unbleach bases 55 percent bleached 39,222.
Stocks collapsed amid unexpected German policy shocks with extensive liquidations across sectors. Major declines hit steel, copper, rail, and war specialties as investors dumped shares, totals showing about 2 million shares traded and a weak late session close.
Trading in Mexican money in San Antonio Thursday showed bids and asks for various notes and coins. Quoted rates included half pesos and state bank notes, with national bank notes and Carranza money also listed, reflecting active exchange during the session.
Mercantile paper at 3 2% per cent. Sterling sixty-day bills 4.8. Commercial silver and cable rates listed. Francs demand 184% with cables 58 3/16. Guilders demand 49% with cables 40 13-16. Bar silver 76M cents. Mexican dollars 39 9/16 cents. Government bonds steady, railroad bonds weak.
New York reports time loans firm with rates around 54 of 90 days and six month terms. Call money firm with high at 3 near closing bid, evening rate and last loan noted.
London reports bar silver at 5 164 per ounce and money at 3 percent. Discount rates hold at 2 5 percent for short and three months.
Washington February 1 Senator Sheppard offered an amendment to the agricultural bill proposing a $25,000 appropriation to improve the potato industry and eradicate disease. Another amendment would raise the appropriation for a plan to investigate land and meat production enterprises on arid and irrigated land from $23,624 to $40,000.
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