Cotton closes at an advance with confidence shown
Cotton markets rise as advances push prices up about one dollar per base traded. Traders cite steady demand and favorable prospects for fiber quality through the season.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 13, 1916
Page
37
Cotton markets rise as advances push prices up about one dollar per base traded. Traders cite steady demand and favorable prospects for fiber quality through the season.
Cotton prices advanced nearly one dollar per bale week over week as southern spot demand held firm. Better export prospects and acreage forecasts in Texas and surrounding states boosted confidence, while long positions liquidated and a steadier contract market emerged despite irregular daily moves. San Antonio buyers offered about 11 500 bales on Saturday amid flood concerns in the Mississippi region.
New York and New Orleans market reports show cotton futures closing steady as prices rise between 15 and 19 points for the week. The closes today reflect a range from 1 to 17 points higher than last week’s levels.
Liverpool cotton traders report 8 3/4 to 8 1/4 cents for middling grades as prices hold. About 4000 bales sold with 460 exported or speculative orders while receipts reach 11,000 bales.
Liverpool futures quote Round dates show February 7.894 for February and March 7.86d with several near term spreads including March-April 7.83444 and May-June 7.79%d. Weekly shifts reflect dampened trading interest.
New York February reports indicate American prince rice advanced to six cents a yard, nearing the high of recent years. Wool and knit goods remained firm and active, signaling broad commodity strength in the trading day.
Texas hens enjoy mild weather as fresh eggs flood markets with lower prices. Friday and Saturday saw strong movement with declines about one cent per dozen. Cold storage eggs fade as storage season looms next month and 1916-17 projections hint at greater egg into storage. Eastern markets receive sizable Texas poultry shipments, nearly twice last year’s volume, underscoring rising production. Wheat prices rose about five cents per bushel amid steady local grain rates.
Wholesale prices to trade listing vegetables by region with per hundredweight per crate and per dozen prices. Contains potatoes onions tomatoes celery peppers cucumbers strawberries apples oranges lemons limes greens and canned goods with multiple regional figures from California Texas Florida Oregon and other areas.
Buell Local Forecaster reports for the day with highest temperature 84 and lowest 69, average 72, and normal 54. It notes excess 18 for the day and 47 for the month, since January 1 accumulated 204. Precipitation shows none in the latest 24 hours, normal 0.06, with a 0.06 daily deficiency and 0.61 monthly deficiency. Total precipitation since January 1 reaches 2.26 inches. Prevailing wind from the south at 10.5 mph, highest 18 mph at 8:09 p.m. Sunrise and sunset times given for Sunday.
Fort Worth Texas February 12 Cattle receipts 800 hogs 2200 with prices: bulk 8.00 8.10 medium 7.90 8.00 mixed 7.75 7.90 light 7.70 8.00 common 7.00 7.50 pigs 4.50 none. Sheep receipts none and lambs 8.60 10.00 yearlings 7.50 8.50 wethers 7.25 7.60 ewes 6.75 7.25 culls 4.00 5.00 goats 3.60 5.00.
Cattle receipts total around 200 with a steady market. Native beef steer quotes at 6.25 to 9.66, western steers 6.00 to 8.00, cows and heifers 3.00 to 3.90, calves 8.25 to 11.25. Sheep receipts 1000, market weak with wethers 7.60 to 8.25 and lambs 8.75 to 11.26.
Receipts and quotations from Kansas City market show hogs with 2000 head and steady tone. Bulk, heavy, light and pigs listed with price ranges. Cattle receipts 2000, market steady with prime fed steers, dressed beef, southern steers, cows and heifers price bands. Sheep receipts none, lambs and yearlings priced. wethern and ewes also quoted.
Hogs receipts 18 000 lower. Pigs and lights 6 75 48 80 mixed and butchers 8 05 8 40 good heavy 8 38 8 40. Cattle receipts 200 steady native beef steers 7 50 9 50 yearling stockers and feeders 8 50 9 35 cows 5 50 7 00. Sheep receipts none nominal yearling wethers 8 00 19 00 lambs 9 00 11 26 ewes 6 25 7 75.
Trading on Mexican currency in San Antonio on Saturday showed active quotes. Market participants watched exchange rates between peso and dollar as regional dealers reported varied bids and offers.
Nueces County Poultry and Pet Stock Association elected new officers for the year in Corpus Christi. T. A. Anderson is president P. E. Lumbard is first vice president J. R. McKelvey is second vice president Chester Chambers is third vice president J. F. Herold is secretary C. Stone is treasurer Oscar Lutz is show superintendent.
Corpus Christi reports local implement dealers say nearly all farmers in Nueces county will start planting on Monday as the farming season begins.
A conference in Corpus Christi appointed a committee to prepare plans for a countywide campaign to reduce cotton acreage. The move was led by Joe Hirsch of Corpus Christi, president of the State Bankers' Association.
Savannnah market report shows turpentine with 124 receipts and 693 shipments, stock 11,470. Resin sales 1899 with 1147 receipts and 566 shipments, stock 5,9756. Quotations list bids from B through W and W W with prices ranging from 6.25 to 7.60 in various grades.
J Pierpont Morgan criticized a Socialist’s tax proposal at a New York dinner calling arguments unfair. He recalled a prior exchange about a 70 percent tax on all incomes and the socialist’s reply affirming a rich taxpayer’s right to pay taxes.
A bellhop, following orders, is described as acting in a tense scene at a Bellevue hotel. The dialogue hints at frustration and discipline, with a manager issuing directives and a bellboy responding in a restrained, compliant manner. The fragment suggests a mood of coercion and restrained emotions within staff interactions.
Cotton buyers in Texas and neighboring states press a campaign by the Texas Industrial Congress to discourage planting and purchasing of the half and half cotton. Dealers expect lower prices and potential market withdrawal, citing law and fiber standards. Proponents urge growers to favor standard long fiber varieties such as Mebane Lone Star and Rowden.
Wholesale prices for the trade on Saturday show eggs steady with Texas country candied at 27 2/3c per dozen and 23 24c storage. Butter firm with Texas Creamery at 32 33c per pound. Poultry firm with hens 4.60 to 6.00 per dozen, friers 3.50 to 4.50, broilers 2.00 to 8.60, turkeys 15 to 16c per pound, ducks 4.60 to 5.50 per dozen, geese 7.00 to 10.00 per dozen. Rabbits per dozen 76c to 1.00.
Washington Feb 12 An illustrated report from the Department of Agriculture explains the official cotton standards issued in December 1914 under the Cotton Futures Act. The article notes broad adoption by southern markets and mills and details storage of original and duplicate sets in vaults and vacuum to preserve color and leaf characteristics.
Chicago market notes show butter at 24 to 31 cents, eggs down with receipts at 2,199 cases. Firsts 21 to 23 cents, ordinary firsts at 2 cents, potatoes lower with 16 carload receipts. Wisconsin and Minnesota poultry prices mixed with live fowl at 16 to 5 cents and springs at 10 cents.
Quotations show creamery butter at 31 cents for firsts and 29 cents for seconds, packing at 19 cents. Benes creamery quoted firsts at 23 cents and seconds at 20 cents. Poultry prices list hens at 13 1/2 cents, turkeys at 20 cents, and springs at 18 cents.
ELGIN Illinois February 12 Butter sold at seventy five tubs priced at 31 percent each.
In New Orleans on February 12 the market showed a strong tone across all rice grades except clean Japan which held steady. Notations and receipts listed clean Honduras at 2 5/8 to 2 1/2 percent, with sales of 1999 pockets.
The New York stock exchange closed for Lincoln's birthday with a cautious mood on Wall Street. Trading occurred amid uncertainty as weekly developments yielded mixed signals from domestic and foreign markets. Investors watched Lusitania policy, central powers submarine tactics, copper booms, steel demand, and railway earnings while bank clearings reached record highs.
London on February 12 reports bar silver at 274 per ounce and money at 4 percent. Discount rates for short bills and three months stand at 56 percent.
Wind speeds under ten miles per hour and precipitation below .01 inch are not published here. Allen Buell, local forecaster, notes this in Hester's statement.
In a brief exchange from the Boston Transcript a Burroughs figure notes a man who resembles him while a lender accuses the subject of not repaying a five dollar loan sent three months ago. The dialogue captures a quick, sharp confrontation over identity and debt.
Dr. E F Pratt head of the bureau of foreign and domestic commerce told the National Canners Association in Louisville that U S canned goods export trade is small compared to the domestic industry With a 1909 output of about 192 million to 250 million in 1914 exports last year before the war stood at 18 35 million He urged American manufacturers to adopt bold business methods and expand exports noting price competition from foreign goods and tariff barriers could be overcome with education and decisive action.
Chicago board reports wheat down nearly five cents a bushel amid shipping fears and cheap South American grain in Europe. May wheat fell about four percent while July dropped three cents. corn shows slight strength on improved foreign demand and weaker U.S. crop outlook. Packers and meat futures rise as Park closes higher by week’s end.
In a hotel lobby Brown and Green plan a social ruse by introducing a neighbor with a new car to a man known as Madison who has just welcomed a baby. The aim is to trigger a slide of conversation about the automobile and the baby as a pair. The scene unfolds with light humor and urban social maneuvering.
San Antonio grain prices show wheat at 1.38 per bushel in san antonio, 1.36 for northern. Corn notes No. 3 in Texas and No. 2 mixed northern 7 83c. Oats list Texas red and white with 33 60 per bushel in sacks and bulk. Oklahoma prices follow Texas grades.
Local quotations list dry salt extras at 18c and bacon extras at 14 41 per hundred pounds. Dry salt bellies average 14 1 2 percent, 15 percent 4c, fancy breakfast bacon 28c, fancy hams 19c. Bacon bellies 14 to 16 pound average 16 4 percent. Pure lard 11c, compound lard.
Guests waited as the bridegroom arrived two hours late after the ceremony was nearly canceled. The best man joked with the bridesmaids performing a ten step fox trot while ushers passively passed coins and the minister smoked. The event ended with quiet acceptance as the ceremony proceeded.
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