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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 16, 1916
Page
11
Cotton prices fall amid a dull session as traders await cues from the market. Analysts note limited movement across futures while Davis issues a warning about near term volatility and potential pricing shifts.
Daily basis quotes show middling grade prices for note market delivery. San Antonio sales total 3,642 with price around 11.86 and 21.40 for Note narket. New Orleans figures list 1,546 sales at about 11.56 and 1,994 for another rate, with large overall volumes.
February trading in cotton shows 9 to 11 point losses at key centers as Texas spot prices fall 25 to 50 cents per bale. Reported grain crop failures prompt farmers to plant more cotton, while oats and Lusitania tension dampen exports. San Antonio buyers confirm local compress prices for Wednesday deliveries.
In New York on February 16, March liquidation and scattered selling pulled futures down from early steadiness. May and July dipped to around 11.95 to 12.11, with Liverpool factors weighing on the market. After brief rallies on covering, prices hovered near yesterday’s close and closed steady despite ongoing labor and arbitrage concerns.
New York trading shows cotton futures easing with March at 11.75, May 12.00, October 12.22, December 12.34. Prices closed 9 to 11 points lower amid broad market softness and unclear demand signals. odds of further declines noted as market eyes seasonality and output concerns.
Liverpool 예정 opens Thursday after a decline in performance with eleven o'clock call leading to updates on New York and PeMOO developments.
In New Orleans on February 16, cotton prices fell six to nine points in early trading as good weather and freer offerings weighed on the market. Sentiment showed oversold conditions with bear gossip. by noon prices drifted around yesterday's close before edging down five points at 1 30. Labor troubles in eastern mills and wheat damage claims in Texas were cited as factors influencing demand.
Cotton futures opened steady in New Orleans with March at 11.46, May 11.76, July 11.98, October 11.98, and December 12.13. The session closed 7 to 9 points lower amid uncertain trade, with erratic price cues and occasional misprints in the report.
Cotton spot good middling at 8.194 cents with middling on 7.86 cents. Sales for speculation and export 3000 bales. Receipts 1000 bales.
Futures in Liverpool steady with the February contract at 7.74 pence, and continuous year spread quotes from February to January including March-April at 7.69 pence and December-January at 7.27 pence. The curve depicts a gradual fall toward year-end maturities.
Cottonseed oil closed strong in New York with spot bids at 9.65 and near-month and next-month contracts posting various bids from 9.70 to 9.78. Monthly bids extend through September, with total sales reported at 35,400.
Galveston dispatch notes arrivals on February 16 including El Oriente from New York and Cuthbert from Liverpool with Victoria de Larfrinaga and Manchester in port. Mailed: Clifton from Havre.
Prices for refined sugar rose 10 cents per 100 pounds with cane sugar at 6.75 and beet sugar at 6.55 as beet seed shortages threaten 25 percent of output. Industry warns only half the needed seed is available, delaying supply while onions and Texas crops loom. Coffee prices rise modestly amid a strong market, eggs show weakness, and poultry demand stays active.
Lead at 6.20, spelter not quoted. Copper firm with electrolytic around 28.59 and later 26.75 to 27.50. Iron steady. Tin steady with spot prices 41.75 to 42.25.
London market update lists lead at 312,864 pounds, spelter 100, copper spot at 104 pounds 10s, futures 102 pounds, electrolytic 136 pounds 10s, spottin 182 pounds, futures 182 pounds, and antimony at 125 pounds sterling. Prices given in pounds sterling with specific reference times.
Wholesale prices Wednesday show eggs steady with Texas country candled at 19 to 24 cents per dozen storage 23 to 24 cents per pound. Butter firm with Texas creamery at 32 5 to 36 cents per pound. Country 18 to 20 cents. packing stock 18 to 16 cents. Hens at 4.69 to 6.00 per dozen. fryers 3.50 to 4.50. broilers 2.00 to 3.50. turkeys 15 to 16 cents per pound. ducks 4.50 to 5.50 per dozen. geese 7.00 to 10.00 per dozen. Rabbits 75 cents to 1.00 per dozen.
Chicago prices show butter higher with creamery at 24 82c and eggs lower. receipts 2845 cases with firsts 231ec and ordinary firsts 22 23c with cages at 20 23 percent. Potatoes down with 51 car receipts. Minnesota and Dakota wholesale prices listed. poultry alive lower with fowls 10c and springs 9c.
In New York on February 16 print cloths held firm while large dress goods lines saw withdrawals and forward sales into July and August. Men’s wear stayed feverish as Burlap markets hardened on reports shippers cannot secure more vessels at Calcutta for April May and beyond.
New Orleans rice trading shows continued strength in rough and Honduras cargoes while prices for Japan and Honduras miscues hold. Receipts total 38? sacks rough, 43,833 millers, 11,055 clean. Sales include 1,145 sacks rough Honduras at 3.85 to 3.92, 389 sacks Japan at 2.75 to 4.00, 2,159 pockets clean Honduras at 2 1/2 to 4 1/4, 50 pockets Japan at 3 1/2.
Union Stock Yards report Feb 16 notes strength across cattle hogs and sheep with higher prices at packing centers. Fort Worth hogs gain 10 to 18 cents, steers 6.25 to 6.50, cows 5.50 to 6, calves 6 to 7, with overall brisk receipts and a clearing yard by noon.
Fort Worth Texas February 16 receipts and quotations for cattle show 1200 head steady with Reeves at 6.57 to 7.35 per cwt stockers 6.00 to 6.90 cows 2.25 to 6.60 heifers 5.50 to 7.80 bulls 4.00 to 5.25 calves 4.00 to 5.00. Hogs receipts 6600 with bulk 8.00 to 8.10 heavy 8.05 to 8.10 medium 7.95 to 8.05 mixed 7.85 to 8.05 pigs 4.00 to 5.78. Sheep receipts 1100 unchanged lambs 8.50 to 10.50 yearlings 7.25 to 7.50 ewes 4.00 to 5.00 goats 3.25 to 4.00.
Receipts and quotations for hogs and cattle listed with ranges. Hogs showing steady receipts at 12 500 with mixed and butchers from 5.00 to 8.35 and good heavy near 8.30 to 8.36. Cattle receipts at 32 000 with strong demand. native beef steers 7.50 to 9.50. yearling steers and heifers 8.50 to 9.50. cows and feeders 4.00 to 6.50. calves and other categories noted but incomplete in text.
Kansas City reports receipts for hogs at 13 009 with steady to higher prices from 6 25 to 8 20 per cwt. Cattle receipts around 6000 with prime fed steers 8.40 to 9.00, dressed beef steers 7.00 to 8.85, cows 4.25 to 7.00, stockers 6.00 to 7.75. Sheep receipts 11 000 with lambs 16.40 to 11.10, yearlings 9.25 to 10.00, wethers 7.75 to 8.50, ewes 7.25 to 7.
Turpentine quiet at 53 with sales 56 and stock 11,086. Resin steady with sales 407, receipts 1,640, shipments 1,270, stock 65,237. Various lot prices shown for different grades and companies.
Chicago market summary shows hogs with receipts around 40 000 and values from 6 25 to 8 30 for various grades. Cattle receipts about 15 000 with native beef steers at 6.60 to 9.66 and cows 3.16 to 8.20. Sheep receipts about 18 000 with lambs 9.00 to 11.50 and wethers 7.75 to 8.35.
The Interstate Commerce Commission refused to reconsider its decision raising rates on agricultural implements about two cents per hundred pounds. The National Implement and Vehicle Association had requested a rehearing.
The note states wind speeds under 16 miles per hour and rainfall under one inch are not to be considered here, signed by Allen Buell as local forecaster.
On February 16 raw sugar listed at 4.89 and molasses sugar at 4.12. Various sugar products show prices including cut loaf 7, crushed 6.90, mould A 6.55, cubes 6.45. Powdered varieties range 6.25 to 6.10 with granulated 6.10 and confectioners A 6.00.
Auction notes show butter prices at firsts 30e and seconds 28c, creamecy 30e, puritan 19 with 23e for firsts eggs and 2c for seconds. Hens, ide, and turkeys listed at 2c with springs 18.
New York stocks opened with irregular tendencies but overall gains led by war shares and specialities. Canadian Pacific faced renewed pressure while Cuban American Sugar rose to 2.02, United States Steel and Standard Oil remained firm but inactive. late declines softened any gains and the close was weak.
London quotations show bar silver at 26 13 14 per ounce, money 44 percent, discount rate at three months 5 percent and short bills 6 percent.
New York bulletin notes mercantile paper at 243 percent, sterling 0 day bills at 4.71 and demand at 4.76, cables 4.76, guilders demand 423 and cables 42, far silver 56, Mexican dollars 43. Government bonds irregular with railroad bonds described as easy.
New York financial brief notes time loans at 60 and 90 days with 2 percent, six months at 1 percent. Call money remains steady with highs and lows at 2 and 1 percent, ruling rate 1 percent, last loan 2, closing by 1 percent, offered at 2.
The State Department announced the export ban on hides from Mexico will remain in effect until March 1. American buyers and traders protested the decree to the department, seeking relief or reversal.
American securities sent to New York bankers and banks were among mail seized by Britain from ships Noordam and Rotterdam in British waters. The papers, mostly Dutch and German in origin, were resold in the U S market. heavy losses may follow. The State Department likely to press Britain for release of the assets valued at many millions.
Washington February 16. Northern and western farmers petitioned the federal trade commission to probe a ten million dollar American backed company alleged to disrupt Yucatan sisal hemp production. They claim higher binder twine prices and accuse the Michigan state prison of participating in the complaint. The Yucatan corporation says it aims to offer producers a living price.
The railroad commission amended commodity tariff 36 to apply a 19 cent per 100 pounds cement rate in carloads with a 60,000 pound minimum per car from Harrys to Manchester via Texas and Pacific Houston and Texas Central and Galveston Harrisburg and San Antonio railways. The special rate expires June 1 1916 and does not become a leasing rate or affect intermediate points rates.
IMA reports Western Ohio and Indiana crude oil advancing to 1.75 dollars per barrel, marking another record high as of today February 16.
The San Antonio Equal Franchise Society shifts to one morning business session and one evening general session for educational and extension purposes. Officers to be elected next meeting. Extension work, membership drive, and protest letters over Texas suffrage opinions noted.
Wheat advanced as southwest crop damage reports from Missouri and Kansas lifted prices while higher Liverpool quotes and rumors of British food control fueled gains. May and July wheat finished higher. corn also rose due to smaller receipts and Argentina crop doubts, with oats following suit and hogs and grain prices up.
Carrot buyers paid multiple grade prices for grain delivered in San Antonio on Wednesday. Wheat Texas No 2 Northern buyers paid 1.35 to 1.36 per bushel. Corn Texas No 3 0.80, No 2 mixed 0.78, northern white 0.80 to 0.88. Oats Texas red bulk 0.58, sacks 0.58, northern white bulk 0.61, sacks 0.63 per bushel. Oklahoma prices mirror Texas grades.
Dry salt extras 18c bacon extras 14 4c yt salt bellies 14 16 pound average 16c fancy breakfast bacon 28c fancy hams 19c bacon bellies 14 16 pound average 16c Pure lard 11c compound lnc
Chicago quotations list wheat with No 2 red at 1.31 1 31 and No 2 hard at 1.29 1.30, corn No 2 yellow nominal, oats standard at 60 cents, and barley at 69 78 cents.
Quotations show No 2 hard wheat at 1.21-1.28 dollars and No 2 red at 1.23-1.29. Corn prices list No 2 mixed around 70 to 71 cents and No 2 white about 72 to 74 cents. Oats quote No 2 white 48 to 60 cents and No 2 mixed around 46 cents.
Grain futures closed with modest gains and mixed quotes in Kansas City. Wheat May 1.20 percent, July 1.17, corn May 74 4 24 sacks, July 74 1 4, date May 48 1 0.
Quotations in St. Louis show No 2 red wheat at 1.33 1.34, No 2 hard wheat nominal, No 2 corn at 74 cents, No 2 white 48 1/4 cents, other No 2 white quoted nominal.
In Durango on February 16 reports say famished rabbits and other wild animals are starving due to deep snow. County agriculturalist KE. PD. Smith works with fruit growers to exterminate rabbits, as orchards and livestock suffer in Southwestern Colorado and Northwestern New Mexico.
The State Department of Insurance and Banking in Austin issued 40 licenses to insurers for the current year. Metropolitan Casualty Insurance Company of New York reported last year’s Texas premiums of $14,585.40 with losses paid $11,482.71. North River Fire Insurance Company of New York had premiums $20,655.56 and losses $24,741.15. Caledonian Insurance Company of Edinburgh posted premiums of $29,260,038 with losses of $23,604.54. General Indemnity Corporation of America of Rochester reported premiums $2,442.14 with no losses paid.
The attorney general's department approved an $8500 Orange county common school district bonds of district No. 1 40-20 5 percent and a $6600 Washington county common school district bonds of district No. 22 maturing serially 56 percent.
Texas fire insurance commissioner announced a February 24 meeting at the Rice Hotel with representatives of insurance companies, compress firms, and cotton factors. The aim is to discuss revising the cotton insurance schedules and to reach an understanding for insuring cotton in the upcoming season.
A budget committee report from Constantinople says since the war began the central powers have advanced Turkey 21,600,000 pounds. Turkey is said to seek a further 21,200,000 pounds from Germany.
A taxpaying group formed in San Antonio after protesting the school board's 800000 bond sale to R M Grant & Co Chicago. The meeting appointed a permanent taxpayers committee and a messenger to deliver the protest to the board. A statement claimed saving 191185.28 by selling at 4 percent versus 5 percent.
The Brandeis Supreme Court nomination inquiry in Washington moves to sworn testimony under attorneys. A. G. Fox, representing Harvard President Lowell and Boston lawyers opposing Brandeis, agreed to present evidence against the nominee as the committee asks G. W. Anderson to lead proceedings.
San Antonio saloons may close on election day April 1 due to city precinct voting rules for the county wide school trustees. The court seeks attorney general guidance on how the independent city district affects closures. Two additional April 1 elections were assigned in districts 35 Carmine and 23 Elmendorf for tax and bond matters with appointed presiding officers.
County Judge James D. Davis says the county commissioners will not appoint the hospital board now. A majority of commissioners concur. the court will name the board at the proper time with one woman, as required by law. The current roster includes three architects, one supervisor, and a contractor.
Washington February 16. Bids for two new ocean going submarines opened at the Navy Department showed Electric Boat Company as the lowest bidder at 1 million 491 thousand dollars for each submarine. Congress has appropriated 1.6 million dollars for each submarine.
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