Cotton Suffers a Bit Decline Under Liquidation
The market shows a modest drop as heavy liquidation leads to crumbling spot values. Investors process lower demand and sell off positions amid uncertain conditions across futures and cash markets.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 24, 1916
Page
13
The market shows a modest drop as heavy liquidation leads to crumbling spot values. Investors process lower demand and sell off positions amid uncertain conditions across futures and cash markets.
Cotton futures fell sharply amid new international tension with Germany. Daylight losses reached about 25 points or 1.25 per bale with spot cotton down nearly 1. Prices slid throughout the New York and New Orleans sessions. Texas markets saw limited spot business as holders resisted lower offers. A Houston conference of insurance and warehouse officials sought uniform handling standards for the South including compresses and warehouses. Local San Antonio quotes show various grade prices with middling around 11.00 to 11.26 per bale.
The cotton market opened steady with gains of one to five points as March touched 11.42 and July 11.86 before weakening on limited demand and international worries. By late morning prices slipped to 11.29 for March and 11.70 for July, aided briefly by local covering but later pressured by liquidation and southern selling. the session closed steady after fluctuating with rumors of freer spot offerings.
New York buyers saw March at 11.89 and December at 12.22 futures while May 11.64 July 11.84 and October 12.07. Futures closed 18 to 23 points lower amid steady early activity and a lower finish.
Liverpool is set to open on Fridays from 8 to 9 15 and a later 11 o clock call is listed with New York Call and other service notes. The fragment mentions times around 11.35 11.19 and 11.49 11.69 with various letters and initials.
In New Orleans on February 24 the cotton market opened firmer as March notices for 4400 bales were issued, but selling pressure on political news pushed prices lower. By 1:30 pm most active months fell 23 to 28 points from yesterday, with weaker months off 32 to 48 points. Trading closed steady but down 20 to 24 points.
New Orleans cotton futures opened steady with March at 11.16, May 11.46 asked, July 11.70 asked, October 11.88, and December 11.09. The session closed 20 to 24 points lower amid mixed trading and brief price ranges observed during the day.
Liverpool spot cotton was steady with good middling at 8.08d, middling 8.24d, and low middling 7.47d. Sales totaled 6000 bales including speculation and export 500 bales, with receipts of 15000 bales.
Liverpool market reports enable futures prices for February through January, with dates and rates listed such as February 7.64d and January-February 7.24d. The notation includes several adjacent contract periods and shifting values indicating ongoing speculative activity and pricing adjustments.
Prices for oranges stay firm as California harvest nears while reports warn of potential car shortages to move fruit. Storms in the Midwest hamper shipments, with East coast lines struggling to assemble enough cars. Eggs move in large volume with prices easing to 17 to 18 cents retail. Salt fish demand rises ahead of Lent while supply remains ample and prices steady.
Marine intelligence lists arrivals and sailings: Galveston on Feb 24 shows El Paso, Holtby, Savan a via Oran. sailings include Kingsgate, Victoria de Warrinaga, Manchester. New York records Feb 24 arrivals include Giuseppe Verdi, Nieuw Amsterdam, Rotterdam via Falmouth.
Scores of delegates gathered in Memphis for the two day convention of the Southern Retail Lumber Dealers Association. Motion pictures showcased the industry from tree felling to ship ready products for visitors. The Hoo Hoos social group will hold a convention tonight directed by Julius Seidel of St Louis.
In Kansas City produce listings prices for wheat, corn and oats are shown. Wheat No 2 hard and No 2 red range from 1.15 to 1.19, corn No 2 mixed 70 cents and No 2 white 71 to 73 cents, oats No 2 white 48 to 49 cents and No 2 mixed 45 to 46 cents.
Elmer Werth died Wednesday afternoon in his San Antonio apartment at age 14. Born in Frankfort Indiana, he had been in San Antonio three months for health reasons. He is survived by his father Paul Werth and a sister in South Dakota. body to be moved to Frankfort for interment.
John Nations, 28, native of Missouri, died at 1410 West Commerce Street at 12 40 PM Wednesday. He had lived in San Antonio about six weeks. The body is held by the Shelley Loring Undertaking Company awaiting word from relatives in Arkansas.
Dennis Bryan Marshall aged 19 died at 9 o clock Wednesday night in a San Antonio sanitarium. A native of Newport Ohio he had lived here two months. Survived by parents Mr and Mrs Frank Marshall and five brothers Wilfred Roger Otto Oswald and Francis all of Ohio. Body to be sent to Houston Ohio under Riebe Undertaking Company escort of parents.
Advertisement notes Shelley Loring Undertaking Co offering automobile equipment and lists two phone numbers for contact.
South Texas traffic officials of the Southwestern Telegraph and Telephone Company held a Thursday morning session in the Telephone building to outline 1916 plans. They aim to boost department capacity and foster social ties among department heads to improve cooperation. Delegates dined at the Menger Hotel Wednesday night and will attend dinners at St Anthony and the Gunter Thursday and Friday evenings.
New York Feb 24 Markets opened with an irregular tone as late developments in international affairs weighed on stocks. Metals faced pressure with American Zinc and Chino Copper down a point each, while Lackawanna Steel rose over two points amid a war group rally. Major issues like United States Steel and Reading slipped. mid-session weakness intensified before a modest late recovery.
Union Stock Yards reports higher cattle prices with steers selling to 6.60 and cows from 5.75 to 6.25 while hogs hold steady at 7 to 7.50. Sheep are steady as stock cattle demand rises. buyers see strong spring- time activity across Texas and eastern markets.
Willett's Orchestra provides music for a Dixie Social Club dance on Thursday night February 24 at Dixie Hall 1425 South Flores Street Ady staging the event.
The San Antonio Beethoven Club hosts a Thursday night event for Captain Herman Barber marking his seventy fifth birthday. The celebration features several talks and a musical program organized by the Maennerchor, highlighting Barber's fifty years as a Beethoven singer.
U G W of A announces a prize mask ball at W O W Hall on Saturday February 26. Admission is 25 cents.
Dr Albert J Caldwell announces ENT services at 513 Gibbs Building. Phone Cr 8299 for appointments or inquiries.
Knights of the Gran Quivera gather at the San Antonio Automobile Club north loop Thursday night for the annual initiation and banquet. Automobiles depart from the Travis Club at seven o clock.
Dulling Printing Co announces over 600 calendar styles for 1917 with a 10 percent discount on office orders and free delivery. The offer appears as an advertisement for the firm at 131 Losoya Street.
Thieves stole a bicycle chained to a telephone post on Commerce and Presa streets. The thief removed the seat and left it dangling at the chain end. A garden hose found with a Mexican suspect is held for owner identification at the central police station.
Strength in wheat from Liverpool quotes and thinner Northwest receipts lift Chicago prices. May wheat opens around 1.25 and July near 1.18, then advances before a bearish Germany tension rumor drags the close. Corn moves with wheat with volatile sessions, oats rise on red cereal strength, provisions steady as hogs draw focus.
Fort Worth market report shows cattle receipts 1300 with steady bids across beef cows calves and bulls. Hogs receipts 3500 with values sliding 5 to 19 cents lower across bulk heavy and light categories. Sheep and goats sparse with lambs yearlings and wethers trading, ewes and goats price ranges noted.
Receipts and quotations show hogs at 36 000 with a steady market. Bulk 8.30 to 8.55, light 7.95 to 8.55, mixed 8.18 to 8.55, heavy 8.10 to 8.60, rough 8.10 to 8.25, pigs 6.50 to 7.60. Cattle receipts 4000, market strong with native beef steers 6.80 to 9.50, western steers 6.75 to 8.20, stockers 5.65 to 7.70, cows and heifers 3.26 to 8, calves 8.50 to 11.26. Sheep receipts 12,000, market firm with wethers 7.90 to 8.50, lambs 9.25 to 15.00.
Beethoven Stall hosts a grand orchestra of 75 musicians for the annual Musicians Ball on Tuesday February 29. Admission is 10 cents with ladies admitted free.
Judge Arthur W. Seeligson will address the Men's Liberal Club Friday night at the Travis Club. The meeting is expected to draw a record crowd of members to hear the divorce topic discussion.
Reinhard and Co coffee roasters assure quality at Red Swan Coffee.
In a Soledad street rooming house thieves entered a vacant room while the occupants James and Malcom Del so were away. They stole ten dollars and two gold watches. On East Commerce street thieves entered two rooms, a trunk was broken and Mrs Battest lost sixty dollars in currency, and Mrs Hart’s trunk yielded twenty dollars.
Former students gather at the Peacock W T M A and A and M Chamber of Commerce hall Friday night for a social event and reunion.
Masquerade ball sponsored by Werman Sons Maennerchor at Herman Sons hall on Saturday February 26 with admission 25 cents. Four cash prizes awarded. music by Puppe's Orchestra.
Rabbi Samuel Marks will speak on “Prevaricators” at the 8 p m and 11 p m services Friday evening at Temple Beth El. The public is invited to attend the services.
In St Louis on February 24 receipts totaled 11 000 hogs with markets steady to lower. Pigs and lights 6.50 to 8.55, mixed and butchers 8.25 to 8.62, good heavy 8.60 to 8.68. Cattle receipts 1 869 with native beef steers 7.50 to 9.50, stockers and feeders 5.50 to 9.50, cows 7.90, Texas Oklahoma steers 5.25 to 6.00, cows and heifers 4.00 to 6.00, native calves 6.00 to 11.09. Sheep receipts 0, yearling wethers 8.00 to 10.00, lambs 11.36, ewes 6.50 to 8.19.
Grain buyers in San Antonio paid per bushel for Wheat Texas 1.35 and northern 1.36. Corn Texas No 3 0.80, northern No 2 mixed 0.78, northern white 0.83. Texas red 0.63 in bulk, 0.05 sacks. northern white 0.63 in sacks, Oklahoma prices match Texas grades.
The firm advertises new service rates with $1.50 and $2.00 per hour for active auto livery.
Receipts and quotations dated Feb 24 show hogs with 8000 head and steady market. Cattle receipts 2590 with prices for prime fed steers and dressed beef varieties. Sheep receipts 6009 with lambs and yearlings priced. figures vary across categories.
Trading in Mexican money in San Antonio showed quotes for bank notes and Carranza money amid mixed bank note activity. Time loans in New York on Feb 24 were steady with 60 day at 2 1 2 percent and six months at 3 percent. call money ranged from 1 1 2 to 2 percent, with the ruling rate at 1 1 2 percent and last loan 2 percent.
Thursday quotations list dry salt extras 18 cents per pound bacon extras 14 cents per pound dry salt bellies 14 to 16 pound average 154 cents fancy breakfast bacon 2 cents fancy hams 1 cent bacon bellies 14 to 16 pound average 174 cents pure lard 11 and a half cents compound llc issued a note of these prices to dealers.
A post marked letter dated February 21 at 12:30 PM warns parties who sent a false accusation unsigned by mail to contact the accused before Friday February 25 or the letter will be handed to authorities. The ad notes suspicion has fallen on the right people more than once.
W. T. Garven, a furniture dealer, filed a plaint marking the first such case in the local corporation court in several months.
W G Schuwirth Co advertises sewer connections and plumbing services at 231 W Commerce St with phone contact Crockett 641 offering experienced local work and reliable service.
Local ad notes Alamo Jewelry Co at 315 Alamo Plaza buys or trades in old silver diamonds and coins. It emphasizes accepting worn pieces and suggests inquiry in person.
Observations recorded at 7 a m on February 24 1916 by Allen Buell Local Forecaster noting light winds under 10 mph and precipitation under .01 inch not noted.
The Interstate Commerce Commission ruled that carload rates on banana and tropical fruits from New Orleans to Texarkana by Illinois Central and other railroads are excessive compared to New Orleans to Shreveport, by more than ten cents per hundred pounds.
In New Orleans on February 24 a strong tone persisted in rough Honduras and Japan rice and a steady clean Honduras grade. Receipts totaled 1577 rough and 1367 millers, clean at 924 dollars. Sales reached 2897 pockets of clean Honduras OS 4A 4 Tin at 7s wine.
An advertisement for Overland Auto Livery at 216 Soledad Street lists charges Cr. 5100 and 4100 with a new rate structure. Cars priced at 900 dollars plus hourly fees of 1.50 and 2 dollars.
Quotation snapshot from St Louis on February 24 shows No 2 red wheat at 1.22 dollars No 2 hard nominal. Corn No 2 nominal No 2 white 73 1/2 cents. Data No 2 421g No 2 white nominal.
A board of commissioners led by COL William H Arthur and COL Guy L Edie convenes at the Army Medical Museum in Washington for exams to determine fitness for promotion. Officers named include BEN J WARRINER HARRY L DALE BERTRAN F DUCK and others with travels to Hampton VA Eddystone PA Frankford Arsenal Sandy Hook and Springfield Armory for official duties. CAPTAIN WALTER C JONES receives two months leave.
New York on February 24 reports strong cotton goods markets with firm yarns and strong demand for laces and embroideries. Ongoing labor troubles continue to hamper textile production.
An accidental discharge of a shotgun near 819 North Center Street wounded Nelson Mackey in the left arm, nearly severing at the shoulder, as he hunted rabbits east of the city. He was brought home and given medical attention at 5 o'clock Wednesday afternoon.
Wholesale prices to the trade Thursday show eggs steady Texas candled 17 15c per dozen butter firm Texas creamery 31 33c per pound country 18g 70c packing stock 13 15c per pound poultry firm hens per dozen 5.00 6.60 friers per pound 4.50 5.50 broilers per pound 2.00 3.50 ducks per dozen 4.0 5.5 geese per dozen 7.00 10.00
Chicago on February 24 reported grain prices with wheat No 2 red at 1.21 to 1.24 dollars for No 2 red and nominal for No 2 hard, yellow corn unclear, oats standard at 44 to 46 cents, barley at about 6 to 6 1/2 cents.
New York financial brief shows mercantile prices up 3.3 percent with sterling rates for sixty day bills at 4.711, demand 4.765 16, cables 4.76. Guilders demand 42 percent, cables 427 percent. Bar silver 57, Mexican dollars 48 4e¢. Government bonds strong, railroad bonds heavy.
Kansas City report lists today’s quotes for wheat corn and oats with standard grade ranges. No. 2 hard wheat sells around $1.159 to $1.20 a bushel, No. 2 red near $1.15 to $1.18, corn No. 2 mixed about 69 to 70 cents, No. 2 white about 70 cents, oats No. 2 white 48 to 49 cents and No. 2 mixed 45 to 41.6 cents.
Quotations show creamery butter at 24 to 32 cents per pound and eggs lower with 6962 cases received. Firsts 20 cents, ordinary firsts 19 to 20 cents at mark. potatoes at 3 dollars per case unchanged. poultry alive higher with fowls 15 cents and springs 174 cents.
Grain futures closed with gains in Kansas City. Wheat May at 1.08 and July 1.076. Corn May at 1. and July 0.724. Oats May at 0.44.
London financial brief notes par silver at 271 pounds 16? pence per ounce and money rates at 4 1 2 percent. Discount rates shown for short bills and three months at 5 1 4 percent.
The market closed lower with spot bids at 980 and futures across months from February to September showing declines. Totals show 35,000 contracts sold across the session.
Turpentine quiet at 6 14 to 6 15 with receipts 18 and shipments 210, stock 9628. Resin steady with sales 986, receipts 3996, shipments 1942, stock 57 330. Quotations list several grades from G to W, reflecting a stable tone in Savannah on February 4.
In New York on February 24 coffee markets showed slight gains with March at 7.66 cents, July contracts quoted higher as traders weighed steady demand and supply signals amid a cautious session.
O'Connell Loan Co at 112 E Houston St offers loans on diamonds watches and jewelry.
Prof. Sureddin provides Medico Osteopathic, electric and Swedish massage plus adjustment services at 316 17 Hicks Building.
A man attempted to enter a dwelling in the 1800 block of Buena Vista street shortly before 6 am Thursday. He was detained by residents, with detectives Long and Bradford taking him to the central police station after police were alerted.
Company W Davis advertises Elgin and Waltham fabric swatches for sale with easy payments and credit terms, catalog reference 6114.
Henry Ripps owner of a moving and storage establishment was fined ten dollars by Judge Lowther in the police court Thursday morning for failing to report the relocation of a citizen’s household effects. The sentence was suspended.
New York metal market report notes copper firm with nearby at 28.50 and June and later at 27.00 to 27.50. Lead at 6.35 with no quotation for spelter. Iron steady and unchanged. Tin strong with spot price at 42.00 bid.
Lead at 32, spot copper 103 pounds sterling, futures 102. Electrolytic at 136 pounds. Spot tin 182, futures 182 pounds. The fragment records precious metal prices and futures remaining in British currency.
Realty listing notes a bungalow in the select residence district owned by an owner moving away. Property offered for cash or terms with Travie 4450 provided for contact.
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