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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 23, 1916
Page
11
Cotton prices rise sharply as confidence grows and trading volume remains robust. Market watchers note higher bid activity and sustained demand supporting the upward move.
New York began February 3 with nervous trading as Liverpool advanced and American markets lagged closed yesterday. March contracts slipped to 11.15 before rebounding to 11.38, May to 11.64 and July to 11.85 as covering and buying supported prices. Afternoon activity faded with 2 to 3 point declines, while late spurt lifted March to 11.40, May to 11.6 and July to 11.85 before final reductions.
Cotton futures opened steady on February 23 in New York with March at 11.39 and December at 12.02. The market closed 11 points higher after a day of mixed highs and lows, with October around 11.87 and May near 11.47 as traders noted modest gains.
The report notes Liverpool is due to open Wednesday with a 2 to 2 percent point higher stance. The eleven o'clock tally references New York input and market calls, with figures for May and July futures appearing as 11.37 and 11.61 respectively, indicating calendar spread moves.
Poor cables spurred selling at the market open in New Orleans with prices down 7 to 9 points. Buying from shorts covering and longs entering supported near positions, pushing the market toward a better tone by noon with gains of 13 points over Monday's close and a 14 to 16 point net advance by 1:30 in the afternoon.
In New Orleans on February 3 cotton futures opened steady with March at 10.91 and May at 11.18 for nearest contracts. The market closed 11 to 12 points higher as figures show gains across several months with prices in the 11.0 to 11.6 area and volatility noted in nearby notes.
Liverpool Feb 23. Cotton spot easier with good middling at 7.99d and middling 7.124d while low middling sits at 7.38d. Sales reach 7000 for speculation and export. Receipts amount to 35000.
In Liverpool trading on February 23 futures stayed firm with a chain of rates listed across multiple delivery months. Notable figures include February at 7.60 percent and January-February at 7.19 percent, showing a narrow band of moves.
Lead is listed at 6.27%4. Copper remains firm with electrolytic nearby at 28.50 and June and later at 27.00 to 27.50. Iron is steady. Tin is firm on spot at 42.50 to 42.75.
London notes lead at 32 pounds 5 shillings, spelter 195, copper spot 196 pounds 10s, futures 104 pounds 10s, rectrolytic 136 pounds. Spot tin 181 pounds 5s, tin futures 181 pounds 10s.
Chicago market notes from February 23 show creamery quotes down 4 9 4 4 9 4 area. Receipts total 6962 cases with firsts 20 percent and ordinary firsts 19 to 20 percent. Potatoes receipts at 2 dollars per car. poultry alive prices higher with fowls up 6 cents and springs up 17 cents.
Market reports show rough rice in short supply with strong demand and higher prices. Eggs arrive in volume with prices easing. butter and poultry remain in demand at attractive levels. Seed merchants expect rain to boost sales while cotton products influence lard prices stays firm.
Wholesale figures list Colorado potatoes at 2.85 and 2.40 per cwt California onions at 2.56 per cwt new onions 1 50 per crate Cuban tomatoes 3.00 3.50 per six basket crate California celery 90c per dozen 1 crate, green beans 8 per lampers squash 8c lb etc. Fresh fruits include Texas strawberries 5.60 6.00 per crate Washington Winesap apples 2.25 fancy 2 Black Twig 1.85 2.09 per box and assorted canned goods and staples with wide price ranges for flour, coffee, rice and dried fruits.
Uneasiness marked the opening of today’s market as post holiday developments prompted caution. War shares led activity with American Locomotive Continental Can Studebaker and Crucible Steel showing strength mid session before slipping on light offerings and final hour weakness in Marine preferred and copper.
San Antonio price roundup shows current cotton values across grades with local traders noting market pressure. Analysts cite supply levels and weather conditions in Texas as influencing futures while buyers watch for price stabilization.
Demand for beef and pork was active while mutton lagged. Steers and cows held firm to higher, hogs strong, sheep weak. Chicago 46,000 hogs slow on porkers with no lower prices. San Antonio market steady. receipts include 226 cattle 66 calves 84 horses 764 hogs 82 sheep. Steers up to 6.50. cows 6.50 to 6.35. calves 6 to 7. hogs 7 to 7.50. sheep not quoted.
Oklahoma City market report lists three hundred cattle and three thousand eight hundred hogs with steady demand. Top hog price noted at 8.26 while bull ranges run 7.90 to 8.10. Late sales show varying weights and prices for buyers including J A Mitchell Davenport and others.
A. F. Collins notes portable wireless gear used by both sides in modern war. Ten men on reglar gun carriages form a battalion with a self contained transmitter receiver and aerial reel. They can deploy and reestablish contact in under five minutes over thirty to fifty miles using balloons or kites and a hydrogen gas tank.
New York market notes show mercantile paper at 343% on struce, 60 day tea near 4.71% to 4.76% demand, cables at 4.77, tea demand 42%, cables 42%. Bar silver at 51, Mexican dollars 434c. Government bonds steady, railroad bonds heavy.
Time spans and rates hold firm with 60 days to 242 percent, 40 days and six months at 2 to 3 percent. Call money firmer with high 21 percent, low 1 percent, ruling rate 1 percent, last loan 2 percent, closing bid 1 percent, offered at 2 percent.
London market brief notes bar silver at 27d per ounce and money at 4 415 per cent. Discount rates listed for short bills and three months at 644 per cent.
Galveston wireless reports list arrivals including the British Gilgai El Valle Comal and Ossabaw Oxonian along with Liverpool via Pergacola Medina New York El Cid Kilpales and Crisio among others. Sailed vessels include Ossabaw New York Oxonian and Kilpales with connections to British ships.
Hogs receipts 3500 higher with pork and light hogs at 6.80 to 8.70 for various classes. Cattle receipts 3500 with native beef steers 7.59 to 9.50, stockers 5.50 to 7.00, cows 4.00 to 7.00, calves 6.00 to 7.00. Sheep receipts 2800 lower with lambs around 11.50, ewes 0.50 to 8.10, yearling wethers 4.00 to 10.00.
Kansas City market today reports hog receipts 17 000 with prices 8.00 to 8.55 for bulk and 6.50 to 7.75 for pigs. Cattle receipts 5 000 with prime fed steers 8.50 to 9.00 and cows 4.59 to 7.90. Sheep receipts 7 000 with lambs 19.40 to 40.90 and yearlings 9.25 to 10.60. wethers 7.75 to 8.25. ewes 7.00 to 9.??.
Chicago market today reports hog receipts 49 900 with mixed and heavy price ranges from 8 10 to 8 60 per cwt. Cattle receipts 16 000 with native beef steers 6 75 to 9 05, western steers 7 80 to 8 20, cows and heifers 3 20 to 5 28, calves 8 50 to 11 25. Sheep receipts 18 000 with wethers 7 90 to 8 35 and lambs 9 00 to 11 20 per cwt.
Quotations eased today with Wheat at No 2 hard 1.15 to 1.19 No 2 red 1.15 to 1.19 Corn No 2 mixed 70c No 2 white 71c No 2 white oats 48 to 49c No 2 mixed 45 to 46c.
New York price report shows No 7 Rio coffee at 2 4 cents, with futures easing. March at 7 61, July at 7 82.
A British dispatch portrays the Saint Mihiel wedge and Meuse defenses with Mont Mousge and Chavencourt as key positions. It notes river barriers and lines of trenches, plus Russian prisoners’ escape, during the siege area near Verdun and Nancy.
The retired burglar explains that summer is not always best for crime noting homes are often left open for air. He argues that clear advantages bring new risks and shifts in opportunities as seasons change.
In Kansas City on February 23 the six day bicycle race reached its fifth day with nine teams riding a total 775 miles in 33 and a half hours, reportedly 42 miles above the former record, yet the standings remained unchanged from the start and no teams were bunched at the finish.
Wholesale prices for the trade show eggs steady with Texas country candled at 17 cents per dozen. Butter remains firm with Texas creamery 31 to 33 cents per pound and country 18 to 20 cents. Poultry costs steady with hens 5 dollars per dozen, friers 4.50 to 5.50, broilers 2 to 3.50, turkeys 15 to ived pounds, ducks 4.50 to 5.50 per dozen, geese 7 to 10 per dozen.
Observations taken at 7 a m February 22 1916 report wind under 10 miles per hour and precipitation less than 01 of an inch. Local forecaster Allen Buell notes calm conditions with light moisture.
Fort Worth cattle and hog market summary for February 23 shows cattle receipts around 2000 with varied classes priced from 3.50 to 7.60 per unit, hog receipts about 4500 with prices from 7.25 to 8.25, sheep and goats also listed with mixed figures for lambs yearlings and ewes.
Chicago wheat markets opened with declines of about 1½ to 2 percent due to heavy Winnipeg receipts and a doubling of Australian surplus alongside rising European interior supply. May and July wheat fell before partial steadiness and a late upturn amid forecasts of Winter kill losses. Corn rose despite wheat weakness while oats followed wheat trends. hog prices supported provisions though pork lagged.
Carrot buyers paid prices in San Antonio for Wednesday deliveries. Wheat at 1.35 per bushel Texas price. corn 86c per bushel for Nebraska mix 78c for No 2 mixed. white 80 83c per bushel. Oats Texas red 53c per bushel, sacks 5c. northern white 61c bulk 63c sacks. Oklahoma prices align with Texas grades.
Wednesday quotations list dry salt extras at 13 to 14 per cent bacon extras 14 per cent dry salt bellies 14 to 15 per cent fancy breakfast 26 per cent fancy hams 1 cent bacon cure rate per pound 17 cents pure lard 11 per cent compound lic forgotten and incomplete terms.
St Louis market notes dated February 23 show wheat nominal and corn prices with No 3 at 72 and No 2 white around 42 to 44 cents, reflecting typical futures or cash bids. The scattered figures indicate a damp market tone and variability in grain values.
Quotations listed for February 23 show No 2 red wheat at 1.214 and 1.23 for 1.23s, No 2 hard at around 1.20’s, corn No 2 yellow at Tec, oats standard 45 to 46 cents, barley at 654.
In Kansas City on February 23 Moe futures show Wheat May at 1.183 percent, July at 1.3. Corn May 7 2 percent, July 7 34 cents, and Oats May 45 45 cents. Prices reflect modest gains and losses across wheat corn and oats.
Texas railway incomes for the six months ending December 31 1915 rose sharply over the prior year. Total operating revenue reached 35.87 million dollars with freight and other earnings driving a 7.78 percent gain, while expenses rose modestly.
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