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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 01, 1916
Page
7
An 8 a.m. weather note reports air pressure near sea level, wind arrows with the wind, first figures for temperature, second for precipitation at .01 inch or more in the past 24 hours, and a maximum wind. Reading is garbled with lines and dotted segments, but suggests a partial cloudy to cloudy sky and missing report.
A sharp bearish report triggers a dramatic fall in cotton prices. Market observers note startling declines and rapid losses across trading sessions. Major exporters and textile firms monitor the downturn as futures react to the new data.
Daily quotations from Principal spot cotton markets show a bearish shift after a census bureau report pegged the crop at 81.1 percent condition, with yield estimated at 14,266,000 bales and acreage at 35,994,000. Prices fell sharply in New York and New Orleans while San Antonio and local compress prices showed varied declines across grades.
In quiet July trading, New York cotton edged down after the government acreage and condition report. Early gains gave way to a sharp drop with October around 12.81 and December near 13.02, closing six to seven points higher than the day’s lows but still down 26 to 29 points from the session's end.
New York July 1 futures opened steady with July at 13.06 and October at 14.22. On close, values hovered near steady with quotes in the 12.75 to 13.38 range for various months amid thin movement and mixed bid activity.
New Orleans July 1 The cotton market gained 3 to 4 points in early trading on bullish expectations from the government report on condition and acreage. Futures swung to gains of six to eight points, with October up 15 points after the report was read, then weakened as the list closed irregular, down 26 to 33 points from morning highs.
Cotton futures opened steady with July at 2.47 and later prices for October 13.06 December 13.19 January 13.28 and March 15.48. Closing bids were irregular with highs and lows shown for the session and for specific delivery months.
Liverpool plans to reopen Monday after a Saturday holiday in the Liverpool market left shares down by 13 percentage points. The market pause affected traders and investors seeking to gauge next steps.
New York reports July cotton seed prices with ranges for July through December. Quoted values show July at 10.75 to 10.90, August 10.73 to 10.75, September 10.64 to 10.67, October 9.66 to 9.67, November 8.77 to 8.84, December 8.65 to 8.74. Total sales amount to 3400 dollars.
Wagers paid for country produce delivered in San Antonio show steady fees. Texas country candled prices 2 mete. Creamery 25 to 30 cents per pound. Country 20 to 25 cents, packing rock 18 to 19 cents per pound. Poultry steady with hens $4.50 per dozen and up to $6, large fryers $4.50 to $5.50, broilers 0 to 3.50, turkeys 16 to 17 cents per pound, ducks $4.00 to $5.00 per dozen, geese $4.50 to $5.00.
Kansas City market update lists creamery eggs and firsts at 29c and 21% cents respectively. Hens bring 16c and roosters 10% with packing at 22c. Potatoes steady amid mixed regional notes from Texas Oklahoma and Louisiana.
Quotations were as poisons today with creamery items at 22 to 27½ cents and receipts of 15,153 cases. Potatoes unsettled with receipts 75 carloads across regions from Oklahoma to Illinois. Old and new vegetables and poultry prices vary, with fowls at 15 cents and springs at 2.
San Antonio traders report a tight stock of dried beans with prices rising. War Department contracts and limited California offerings push up costs for fancy beans to 9.60 per hundredweight, pinks to 10, and limas to 7.75 as Saturday receipts remain fair. East Texas tomatoes command higher prices as local demand stays firm and poultry shipments to New York bolster prices despite ample receipts.
Wholesale markets list prices to retailers and shippers for vegetables and fruits. Texas potatoes and onions show per hundredweight and crate rates. tomatoes onions celery cabbage peppers lettuce cucumbers cantaloupes watermelons and more are priced in crates baskets and per dozen or hundredweight, with California and Washington items also included. Commodity varieties include peppers, beets, beans, squash, carrots, turnips, apples peaches pears and dried fruits with coffee rice flour and canned goods price notes.
New York reports cotton goods firm with print cloths and brown goods more active. Yarns in strong demand. Ready-to-wear market turning active for fall.
July wheat opened around 1.01 dollars with September near 1.04 dollars as European demand for the new U.S. crop improves. Corn rose on lighter offerings and weather supports. later wheat fluctuated with a rally then unsettled close while hog prices strengthened provisions.
On July 1 the Chicago quotations show cash wheat with No 2 red at 1.06 and No 2 hard nominal. Corn No 2 yellow at 78 cents, oats standard at 41 cents, barley at 64 7/8 cents.
Saturday prices reported for grain and hay delivered in San Antonio include Corn Texas No 3 4 mixed 82 cents Northern No 3 white 86 cents mixed 86 cents Oats Texas No 3 red 41 cents Hay Mile maize No 3 bulk 1.15 feterita No 3 bulk 1.16 Kaffir corn No 3 bulk 1.15 cane hay per ton 11 Prairie hay per ton 10 3 1 50 Johnson grass per ton 11 alfalfa choice pea green New Mexico per ton 16
Quotations from Kansas City show No 2 hard wheat at 98 cents and 1.05 dollars, No 2 red at 98 cents and 1.03 dollars. Corn prices list No 2 mixed at 79 3/4 cents, No 2 white at 78 7/8 cents, No 3 at 71 1/4 to 78 cents, No 4 yellow at 74 cents. Oats quoted No 2 white at 49 1/4 to 51 1/4 cents.
Kansas City report shows wheat for July at 96 1/2 cents and September at 98 1/4 cents, while corn for July trades at 72 1/2 cents and September at 74 1/4 cents.
Quotations list grain prices from St. Louis on July 1 with No 2 red wheat at 1.1001 12 per bushel, No 2 hard nominal, No 2 corn at 76 76 cents, No 2 white 75 cents, and No 2 oats at 39 39 1/4 cents per bushel, with some data cut off.
Provision markets quotation list reports Saturday prices for dry salt extras at 15 percent bacon extras at 17 cents dry salt bellies averaging 14 to 16 pounds fancy breakfast bacon at 27 cents fancy hams at 21 cents bacon bellies 14 to 16 pounds average 19 cents Pure lard 14.5 cents compound 12.5 cents
July 1 at Union Stock Yards reports a very dull local cattle market with few transactions to move prices. Demand remains for good beef cattle and heavy butcher hogs. Dealers expect a noticeable local market improvement this month. Receipts: cattle 30, calves 10, hogs 1, horses 54.
In Fort Worth on Saturday receipts were light with 150 cattle and 150 hogs yarded. Hog prices topped at 4.70 with choicer hogs quoted around 9.90, while Chicago reports show varied hog, cattle, and sheep receipts and prices across several classes, including native beef cattle at 7.50 to 11.25 and western steers at 8.40 to 9.45.
Kansas City reports receipts for hogs at 300 with nominally steady bids from 9.65 to 9.98 for various hog categories and cattle receipts at 200 with prime fed steers quoted 10.25 to 10.75 while dressed beef steers run 8.00 to 10.00 and cows 4.00 to 8.25. Sheep show no receipts with lambs 8.59 to 10.75 and other classes at 6.25 to 7.50.
Receipts listed for Hoge and Cattie yards with notes on market directions. Hoge: pigs and lights to 10.19, mixed and butchers to 10.19, heavy hogs 10.10, cattle prices shown for native beef steers 7.50 to 11.35, yearling steers and heifers 8.50 to 10.65, cows 5.50 to 8.25, stockers 5.50 to 8.50, Texas and Oklahoma steers 5.50 to 9.90, prime yearling 8.75 to 10.25, native calves 6.00 to 11.78. Sheep: wethers 6.00 to 8.00, ewes 4.00 to 8.06, lambs 6.00 to 10.00, spring lambs 7.00 to 11.00. Market noted as steady or higher in parts.
Raw and refined cattle sales across New York totaled 14.87 million dollars as of July 1. Elgin Butter in Illinois reports butter prices at 27 cents per pound for July 1.
Temperatures and rainfall data for stations in the Houston district show generally normal temperatures with rainfall exceeding an inch at Livingston, Alabama. Greensboro, Glenville, Georgia. Charles, Conway, and Kingston. Greensboro, Wilmington and Weldon in North Carolina. Beeville, Texas. Allen Buell, Meteorologist.
Observations recorded at 8 a m on Saturday July 1 1916 by meteorologist Allen Buell note wind speeds under ten miles per hour and precipitation under .01 inch are not tabulated.
NEW ORLEANS La July 1 The rough rice market remained nominal and clean today with no receipts and quotations unchanged Sales clean Honduras 800 Japan 642.
New York July 1 The stock market opened under the Mexican situation with declines spread across many issues. Texas Company and Canadian Pacific were firm while Baldwin Locomotive Crucible Steel Studebaker Industrial Alcohol Mex ic an Petroleum and American Smelting fell sharply. U S Steel dipped, Bethlehem showed a small loss, industrials and rails weakened. Canadian Pacific rose nearly 2 points with gains in Wabash preferred. Closing was heavy and bonds fell.
New York July 1 bank statement reports actual condition of clearing house banks and trust companies with excess reserve of 89,293,940. Loans rise to 3,360,135,000 while reserves in vaults and at Federal Reserve shift lower. Net deposits fall slightly as time deposits rise. Circulation stands at 31,655,000 and aggregate cash reserve at 650,048,000.
Mercantile paper stands at 4 1 4 percent. Sterling dollar bills bid at 4 72, demand 4 75 716. Cable rates 4 768 716. Guilders demand 4 14 cables 41 %. Silver scarce at 5e. Mexican dollars 50c. Government bonds steady. Railway bonds easy.
Metal markets from New York show copper dull and unchanged for electrolytic near term, with September and later at 26.50 to 29.00. Tin grows firmer with spot offered at 29.50. Market notes Tren steady.
The Census Bureau forecasts a 1916 cotton yield of 14 266 000 bales in 500 pound units, based on June 25 crop condition and acreage. Area planted is 35 994 000 acres with weather affecting growth. boll weevil reports and variable rains influenced development across the belt. Final production may differ with remaining conditions.
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