Cotton Closes Down as Market Remains Unsettled
Prices slip amid unsettled sentiment as cotton futures end lower. Traders cite mixed demand and cautious buying, signaling a cautious close to the session.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jan 29, 1916
Page
7
Prices slip amid unsettled sentiment as cotton futures end lower. Traders cite mixed demand and cautious buying, signaling a cautious close to the session.
Daily quotations for middling grade cotton at major markets. San Antonio and Houston prices shown. New York and New Orleans figures listed with delivery basis noted. Small volumes are reported for each market. figures indicate a national buying and selling basis for country merchants.
The cotton market opened steady but weakened as Liverpool sold off. New Orleans bids slipped with May at 12.06, July 12.17, October 12.18, about 16 points lower. Late morning trading firmed on buying to an overall net loss of 7 to 10 points.
New York cotton futures closed narrowly lower as traders set positions after a quiet session. March slipped to 11.85, May to July 12.21, October 12.20, and December futures down 7 to 8 points from the prior close, with a high of 11.95 and low near 12.16.
San Antonio cotton buyers paid the following prices for cotton delivered to local compresses Saturday. Prices reflect standard market rates for staple lengths and moisture content as recorded by local merchants.
In New Orleans on January 29 the cotton market opened with a sensationally poor Liverpool, causing heavy selling and a weak tone. Buyers from yesterday led the selling, prices dropping 14 to 18 points from yesterday's close and trading months showing a net decline of 16 to 21 points at times. The market remained barely steady and closed with a net decline of 8 to 12 points.
New Orleans futures opened barely steady with March at 11.70, May 11.95, July 12.15, October 12.20, December 12.25 with bids. The market closed 11 to 12 points lower.
Liverpool Jan 29 spot cotton ease with Good middling at 8.22d middling 7.88d and low middling 7.50d. Sales 4000 bales including 500 for export and speculation. Receipts 26,000 bales.
Liverpool notes futures barely steady with a string of consecutive month contracts. January at 7.65 percent, followed by February at 7.65 percent and smaller declines through the year, detailing the curve from January to January next.
Chicago January 29 market report shows creamery butter at 23 to 20 cents per pound, eggs steady with 7538 cases received and firsts 21 inch to 26 cents, potatoes steady with 65 cars received. Minnesota and Dakota produce steady. fowls and springs described as available.
Fort Worth Tex Jan 29 cattle receipts 650 market steady Reeves 6.09 to 7.50 stockers 6.00 to 6.85 cows 38.25 to 6.25 heifers 4.50 to 7.50 bulls 4.00 to 65.00 calves 4.50 to 5.00 hogs receipts 1000 market strong bulk 7.80 to 7.85 heavy 7.90 8.00 medium 7.80 7.90 mixed 7.79 7.80 light 7.75 7.4 90 pigs 4.50 to 6.25 sheep receipts none market steady lambs 8.50 9.50 years in age 7.50 8.25 wethers 6.50 7.00 ewes 6.50 6.75 calls 4.50 5.00 goats 2.75 4.76
Eggs steady Texas country candled 27 28c storage 28 24c Butter firm Texas creamery 320330 per pound Common country and packing stock 16 117c Poultry firm Hens per dozen 4.59 6.00 friers 3.50 94.50 broilers 2.00 38.50 turkeys 15 116c per pound ducks 4.50 46.50 per dozen geese 7.00 10.00 per dozen Rabbits per dozen 76c and 1.
Kansas City January 29 market quotations note butter at creamery firsts 31 i cents, seconds 29 cents, packing 19 cents. Eggs firsts 28 cents seconds 20. Poultry hens 8 cents turkeys 18 cents springs 13 cents.
Wholesale prices to trade list extensive grades for potatoes tomatoes onions cabbage beans celery peppers and cucumbers. Also covers strawberries apples bananas oranges limes grapes dried fruits canned goods coffee rice sugar and meats with per unit and per weight figures.
Professional traders again showed bearishness with attempts to depress prices. United States Steel and major rails hit week lows as war issues slid several points and Bethlehem Steel dropped over four. New Haven and Canadian Pacific led rail declines while Union Pacific edged lower and bonds held steady.
New York report shows mercantile paper at 3.3 percent. Sterling 60 day bills at 4.7144, demand 4.763-16, cables 4.7615-16. Guineas demand 42 percent, cables 43 percent. Silver at 86 1/2 cents. Mexican dollars at 43 1/2 cents. Government and railroad bonds noted.
The weekly statement shows New York banks and trust companies carry 177,801,740 dollars in reserve in excess of legal requirements, a drop of 2,112,870 dollars from the previous week.
New York coffee market reports steady futures with Rio and Me options quoted. March futures at 7.36 and July at 7.48 as traders pause before the next session.
A brief update on cotton prospects in San Antonio highlighting market tone and seasonal factors affecting producers. Notes include price trends, weather impacts, and potential shifts in demand. No specific figures provided in readable text.
Wheat prices moved with volatility as expectations of larger Australian and Argentine shipments weighed on futures in Chicago. May and July contracts fluctuated before closing lower, while corn strengthened on reduced Argentina export forecasts and unsettled weather. Oats weaked on selling pressure, but pork led gains in provisions.
Authorities indicate a forthcoming demand for additional funds to finance expansion of the service branch. The move aims to bolster capacity and sustain operations as development continues.
Notice from Phil Ghrissler to friends and patrons that the White Horse Tavern will be closed for about ten days due to Mrs Geissler illness as they travel to Chicago.
Fifteen word classified ad rate at 15 cents promises 70 percent more paid home circulation in San Antonio than any competing newspaper.
Chicago market report shows hog receipts at 17,000 with a steady market and prices from 7.66 to 8.00 for various hog types. cattle receipts 800 with a weak market and beef steer prices from 6.30 to 9.70 for native and 6.60 to 8.10 for western. cows and heifers 3.16 to 8.19. calves 7.10 to 16.50. sheep receipts 1,000 with a weak market and wethers 7.35 to 8.00. lambs 8.10 to 10.35.
Hogs receipts 5000 with higher prices. pigs and lights 6.00 to 8.65, mixed and lights 7.80 to 8.10, good heavy 8.10. Cattle receipts 600 with steady market. native beef steers 7.59 to 9.50, yearling steers and heifers 8.50 to 9.35, cows 6.50 to 7.00, Texas and Oklahoma steers 5.25 to 8.50, cows and heifers 4.00 to 6.50, native calves 6.00 to 10.50. Sheep receipts none. yearling wethers 8.00 to 9.25, lambs 9.00 to 10.65, ewes 6.26 to 7.50.
Receipts and quotations report Kansas City market. Hogs receipts 2000 with bulk 7.50 to 7.85, light 7.35 to 7.70, pigs 6.25 to 7.20. Cattle receipts 190 with prime fed steers 8.25 to 8.75, dressed beef 6.75 to 5.25, cows 4.25 to 6.75, heifers 6.00 to 8.50, stockers 6.00 to 7.85. Sheep receipts none. lambs 10.00 to 10.60, yearlings 8.50 to 9.25, wethers 7.25 to 8.00, ewes 6.75 to 7.60.
In New Orleans on Jan 9 rough rice stayed quiet while other grades held a steady tone. Receipts totaled 4197 rough, 4197 millery, and 2058 clean. Sates 1467 pockets clean, Honduras at TM 4% ceiling.
The report notes active and rising wool markets in New York with firm cotton goods and yarns. Silk ribbons sold freely and ready-to-wear lines moved out in a liberal fashion. Jobbing markets remained active.
Savannah market brief shows turpentine bids at 64, sales 55, receipts 0.37, shipments 156, stock 12,483 while resin firm records sales 825, receipts 760, shipments 147, stock 63,535. Prices listed for various grades and months with uneven changes indicate a volatile early trading day.
New York reports firm copper prices with growing supply scarcity for early spring delivery. May shipment quotes reach 26 cents, while second quarter notations span from 25 to 26 cents. Iron prices hold steady.
London reports bar silver at 27 a ounce money at 4 discount rates set at 5 for short bills and three months 5 for bills. The figures reflect market conditions as of January 29 with wholesale bullion and banking rates unchanged.
In a light exchange Patrice teases Patience about wealth, noting he made his money in the varnish business while joking his family lacks finish. The comment appears in the Yonkerg Statesman style dialogue.
Senator Sorghum voices doubt that a man can be superior to his party. He suggests the usual demonstration is to organize another party, a remark cited by the Washington Star.
Carrot buyers paid prices in San Antonio for grain delivered Saturday. Wheat Texas 1.35 per bushel northern 1.36. Corn Texas No 3 8c per bushel northern No 2 mixed 78c northern white 50 88c per bushel. Oats Texas red 5s per bushel in bulk 5c in sacks 57c northern white in bulk 61c in sacks 63c per bushel. Oklahoma prices same as Texas grades.
The notice lists dry salt extras at 18 cents, bacon extras at 14 cents, 14 to 16 pound bellies at 18 percent, fancy breakfast bacon at 27 cents, bacon bellies 14 to 16 pounds, and pure lard at 12 cents per pound. It resembles a late 19th or early 20th century merchant price sheet.
Quotations listed for January values in Chicago include Wheat No 2 red at 1.26 dollars per bushel No 2 hard Wheat No 2 yellow corn and oats standard at 83 cents Barley priced at 68 81/2 to 69 cents per bushel with no further details.
Quotations recorded in St. Louis on January 29 show wheat at No 2 red 1.41 to 1.42, No 2 hard nominal, corn No 2 at 77, No 2 white nominal, and No 2 oats with No 2 white nominal values.
No 2 hard wheat at 1251.31, No 2 red at 1314 1.36. No 2 mixed 12 18e, No 2 white 314¢. Outs: No 2 white 58 Bic, No 2 mixed 48 49e.
Kansas City grain futures close with May wheat at 1.26 and July at 1.19, May corn at 76% cents, July corn at 76% cents, and May oats at 65 1/2 cents. Prices reflect the day’s trading in a concise market note.
TEW New Orleans La Jan 29 Delegates to the third national foreign trade convention in session since last Thursday prepared to adjourn before night Reports from group sections and action by the general session were on the agenda A steamer trip to inspect harbor dock and warehouse improvements at this port was planned for late today after the meeting.
Spot and futures for cotton seed oil firm in New York on Jan 29 with February through September bids listed. Total sales reported at 4800 units.
Observations at 8 a m 75th meridian time Saturday January 29 1916 indicate temperatures below zero marked by x. Wind under 10 mph and precipitation under .01 inch not published. Allen Buell Local Forecaster.
Washington dispatch reports Pan American Scientific Congress spurs US merchants with new “sample orders” from South American buyers. Consuls note growing demand for American goods on the west coast due to Panama Canal closure, with Antofagasta urging catalogs and trade publications to connect exporters with Latin American importers.
L L Laback a brakeman found a half buried package in an alley by the West Hotel that proved to contain a puppy. The pup escaped the box and cuddled into the warmth of traveler C A Boone who adopted it on the spot amid curious onlookers.
In a brief dialogue from Hoos ton Transcript, Mistrese laments loneliness as Bridget promises to stay until the house is filled with visitors. The exchange centers on family plans and reassurance amid hospitality.
Washington January 29 The proposed inland waterway would span 3000 miles from New York to the Gulf via Buffalo Chicago and St Louis linking the Hudson Erie Canal Great Lakes and Mississippi system. Cost estimates place completion by 1917 1918 with federal outlay under 7 million and notable gains in navigation security and national preparedness.
A humorous wartime postal card from a German-American correspondent describes shortages of lard grease and butter in Germany. Two women discuss hardships as dispensaries are stingy, one noting ointment for Hans lasted only until tomorrow and fearing a dry week ahead, per the New York Press.
Fragmentary dialogue records a tense moment on a trip with mentions of letters and mail. The text references Kansas City Jourmet and a busy schedule, hinting at a correspondence motif and travel duties.
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