Rain damage in eastern belt lifts cotton prices
Weather toll in the eastern belt harms cotton crops pushing prices higher while mentions of improved cables appear as a secondary note.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 17, 1916
Page
9
Weather toll in the eastern belt harms cotton crops pushing prices higher while mentions of improved cables appear as a secondary note.
The July 7 cotton market showed early strength with gains of 5 to 19 points as fears of storm damage to the eastern belt rose. Prices drifted back to opening levels, New York and New Orleans futures fluctuated, reports of a submarine sinking and storm damage rattled sentiment, and both markets closed near the day’s opening levels. Local San Antonio prices for ginnery grades were also listed with low middling and strict low middling bids shown.
New York cotton opened steady amid fears of rain and floods in the eastern belt and uncertainty about the Indian storm. First prices barely higher, with October at 18.10 and December 13.28, later slipping about five points.Contracts scarce, Liverpool steady, selling by Wall Street and South. Cotton closed barely steady amid nervous sentiment and damage doubts.
New York July cotton futures opened steady with prices listed for July October and January contracts. Reports show mixed intraday highs and lows and Liverpool set to open Tuesday with markets down several points.
In New Orleans on July 17 buyers pursued both accounts amid eastern belt crop damage and news of a submarine sinking. Trading months rose earlier, eased near noon, and by 1:30 PM edged up several points before closing steady with little further movement.
In Orleans on July 17 the cotton market shows steady futures with opening bids for various months. Prices listed include around 12.77 to 13.30 for different delivery months and closing figures near 12.75 to 12.96 with minor variations.
Spot cotton prices ease with Good middling at 8.224 and middling at 8.064. Sales reach 6000 bales including 500 for export and speculation. Receipts total 1000.
Futures quoted in Liverpool show a sequence of rates from July at 7.924 to June at 7.734. Each contract period lists successive daily figures, indicating a steady but modest adjustment across months and delivery windows.
Monday's produce market showed light receipts but brisk trading with several gains. Lemons advanced steadily to around 5.75 per box and traders predict they may reach six or more. Elberta peaches eased to 1.40 from 1.50 while Cal ifornia Malaga grapes stood at 2 per crate. Cantaloupes remained plentiful at 1.25 to 2 per box and Bartlett pears traded at 2.75 per box.
Wholesale to trade lists extensive prices for Texas and California produce including potatoes onions tomatoes celery cabbage peppers and more. Listings cover fruits such as apples bananas oranges peaches grapes apricots and figs with case and crate rates plus canned goods meats and coffee, reflecting broad market rates.
Mercantile paper 4 1/2 percent. Sterling exchange 60 day bills 4.71 percent demand 4.75 11-16 cables 4.76 7-16. Guilders demand 41 7-16 cables 41 9-26. Bar silver 62 3/4 cents. Mexican dollars 48 1/2 cents. Government bonds steady. Railroad bonds irregular. Time loans firm 66 days 3 1/4 percent 4 percent 90 days and six months 4 1/4 percent. Call money easier high 3 percent low 2 1/2 percent, ruling 3 percent, last loan 2 1/2 percent, closing bid 2 percent, offered 2 1/2 percent.
Weather lifts corn as heavy selling hits wheat in Chicago trade. Initial strength fades on reports of black rust, with July and September futures slipping. Corn gains fade after Lincoln downpour and Southwest crop damage news, hogs decline largely ignored amid rising provisions and warehouse stock signals.
Carlot buyers posted prices for grain and hay delivered in San Antonio. Corn types ranged from 41 to 86 cents per bushel while various milo and Kaffir corn grades sold from 41 to 86 cents. Hay values included cane and prairie hay around 10 to 11 dollars per ton and alfalfa at 16 dollars per ton in New Mexico materials.
Chicago quotation update shows Wheat No. 2 red at 1.18 to 1.18 1/4, No. 3 hard at 1.18 1/4, Corn No. 2 yellow at 80 81 cents, Oats Standard at 42 43 cents, Barley 65 78 cents.
Quotations dated July 17 show No 2 hard wheat at 1.07 to 1.14 dollars, No 2 red at 1.09 to 1.16, No 2 mixed corn at 77 to 79 cents, No 3 white corn at 77 to 79 cents, and No 2 white oats at 41 to 42 cents.
Quotation data shows wheat No 2 at 1.20 to 1.23, No 2 hard new at 1.15 to 1. Corn No 3 big time and No 2 white around 2.2 to 2.2, oats No 2 around 40 to 60 cents and No 2 white roughly 40 to 50 cents. figures reflect last sale period.
In Kansas City on July 17 grain futures show wheat for July at 1.05 and September at 1.06 while corn quotes appear mixed with July and September figures. The report shows market activity for wheat and corn with shifts in nearby months.
Provision markets in Chicago show new quotations for Monday arrivals. Dry salt bacon extras at 17 half cents, dry salt bellies 14 to 16 pounds average 18 cents, fancy breakfast bacon 27 cents, fancy hams 19 cents, bacon belief 140-pound average 19 cents, pure lard 14 1 2 cents per pound.
Paul July 17 Georges Loftus a railroad rate and market reformer died last night in Paul. He led efforts before the Interstate Commerce Commission for reductions in sleeping car rates.
New Orleans market notes show cotton price trends and trading context. Analysts track futures bids and cash prices, with attention to weekly shifts, supply expectations, and regional demand impacting prices in the port area.
J. J. Covington of San Antonio for H. and B. Beers opened the Corpus Christi Cotton Exchange today. The project faced initial difficulties as a local exchange is seen as a long term venture, but Covington plans to run the exchange through the season in the region.
The Mallory Steamship Company modifies its October 19 1915 embargo on car load shipments from rail lines billed to New York via Galveston. The change allows certain commodities including cotton linters wool hides cotton seed meal cottonseed cake rice and bullion to be received.
Buyers paid prices in San Antonio for country produce Monday. Candied Texas country priced at 21 cents per pound. Creamery at 25 12 1/2 cents per pound. Country 20 to 25 cents. Packing stock 18 1/2 cents. Poultry steady with hens 4.50 to 6.50 per dozen. Large fryers 4.50 to 6.50. Broilers 3.10 to 3.55. Turkeys 16 to 17 cents per pound. duck 4.00 to 5.00 per dozen. Geese 4.50 to 5.00.
Butter holds firm at 221% 27 cents while creamery fats steady. Eggs unchanged with 13 623 cases received. Potatoes drop as Virginia barrels fetch 2.60 to 2.65 and other regions show varied gains. Poultry prices ease for live fowls 17 cents and spring birds 20 to 23 cents.
Prices listed include butter at 28 and 26 cents with second 28. eggs at 15 cents for hens and 10 to 12 cents for roosters. poultry springs at 22 cents. new potatoes steady. Texas Oklahoma Louisiana Triumphs and Kaw Valley Ohio varieties steady at 60 to 65 cents.
Daily cattle sales in Oklahoma City show receipts of about 2100 head with prices ten to fifteen cents lower while hogs total around 1500 with a five cent drop. The report lists average weights and prices per head for key consignors including O Gorman and Shamrock Texas, with overall sales indicating softer demand. Fort Worth reports similar cattle sale activity on July 17.
In a report from Washington on July 17 the comptroller of the currency notes that among nearly ten million checking account holders in national banks an average of 1039 checks were protested daily for three months. The average daily total was $141,500 with overdrafts reaching $6,994,000 on May 1.
Raw sugar with centrifugal at 6.40 dollars and molasses at 4.63 dollars. Refined lines hold steady with cut loaf at 8.80, crushed at 38.65, powdered at 7.75, and fine granulated at 7.65.
The Union Stock Yards opened the week with a steady to active market. Prices for prime steers hit $7, cows $5.00 to $5.50, calves $5.50 to $7.25, and heifers $6.00 to $6.26. Local receipts totaled cattle 281, calves 602, hogs 59, horses 621, and one goat.
Fort Worth July 17 cattle receipts 3000 Beves prices range from 4 to 8 75 stockers 5 to 8 50 cows 4 to 26 Heifers 5 to 5 70 bulls 4 to 5 25 calves 4 to 9 25 hogs receipts 3500 heavy 9 70 9 75 medium 9 60 9 70 light 9 59 9 70 common 7 25 8 25 pigs 4 50 7 60 sheep receipts 800 steady no quotations.
In St Louis on July 17 receipts totaled 9500 hogs and 6500 cattle with mixed market moves. Hogs sold from 3.60 to 9.90 per cwt with various grades. cattle ranged 5.00 to 11.75 for natives and prime bales, and sheep receipts reached 3500 with wethers 4.00 to 8.00 and lambs 7.00 to 10.36 per cwt.
Chicago July 17 receipts show hogs 37 000 with mixed prices from 8.00 to 10.00. Cattle receipts 22 000 with native beef 7.00 to 10.85 and western steers 8.00 to 9.10. Sheep receipts 13 000 with wethers 6.75 to 8.30 and lambs 7.25 to 10.70. Market described as weak to steady depending on category.
Receipts hogs 8900 with market 5 to 10 cents lower. bulk 9.50 to 9.76. heavy 9.70 to 9.80. packers 9.60 to 9.80. light 9.40 to 9.65. pigs 9.00 to 9.40. Cattle receipts 19,000 including 1500 southerns. market steady to 15c lower. prime fed steers 9.75 to 10.50. dressed beef steers 7.60 to 9.65. southern steers 6.80 to 8.50. cows 4.75 to 7.75. heifers 6.00 to 9.25. stockers 6.25 to 7.25. Sheep receipts 11,000. market steady to 10c lower. lambs 10.00 to 10.75. yearlings 7.75 to 8.25. wethers 7.00. ewes 5.75 to 7.40.
The Interstate Commerce Commission today declined to disturb freight rates on vegetables and berries from eastern shore counties of Virginia to Ohio Indiana Illinois Michigan Missouri Wisconsin and Iowa and dismissed a complaint by shippers that rates discriminated in favor of Norfolk Virginia.
New York July 17 Gains ranged from fractions to over a point at the open as liquidation and short selling resurfaced. Motors and allied issues including Crucible Mexican Petroleum and Industrial Alcohol were weak, Reading fell sharply, U S Steel under moderate pressure after a brief gain. Marine preferred advanced up to 2½ points and Denver & Rio Grande preferred rose two points. Prices see-sawed in the final hour with fresh liquidation in specialties.
Texas and Louisiana gulf field petroleum production totaled 20,577,103 barrels in 1915, up 7,459,575 barrels or 67 percent from 1914. Humble pool in Harris County drove the Texas gain with deep sand development, boosting daily output from 26,000 to 67,000 barrels and expanding the pool southward.
July 17 report from New York shows No. 1 Rio 9% coffee futures holding steady with September at 8.40 and December at 8.44, reflecting a flat session as markets digest supply signals.
Little Maria Sali nas Narro, four years old, daughter of Mrs Ysabel Narro of 315 North Santa Rosa Avenue, has been missing since about 6 pm Saturday. Her mother, a widow, told police the child left in the care of elder siblings and vanished. A separate item notes a horse and buggy stolen near St Marys and Houston, later recovered by patrolmen on West Commerce Street. An auto collision injures A D Bruce, who was riding in a jitney and was hospitalized briefly.
A burglar, described as a negro, entered the Garrett residence at 1006 Lake View avenue about 4 AM Sunday. H C Garrett fired at the intruder but missed, and the burglar escaped unharmed. The article notes Garrett’s lack of expert marksmanship and identifies plumbing firm ties to W G Schuwirth & Co. at 231 W Commerce St with a contact phone Crockett 641.
Mrs. M. Schwimmeur was knocked down crossing St Marys and College streets by bicyclist John Munoz who was arrested for reckless riding. She was taken to the city hospital with not serious injuries and later returned home.
San Antonio Y M C A secretary Walter Janert returns from Lake Geneva summer school where he studied city administration. On the way home he visited Chicago and New Orleans Y M C A Cozy Corner Saloon opposite Hot Wells and will be open Monday July 17 election day. Jewish soldiers to meet in Temple Beth F1 Thursday at 8 pm with prayer books and a booklet on Judaism distributed. Professor Stewart at Austin County. Superintendent P F Stewart serving on state examining board. Furnished rooms and boarding advertised by Dulling Printing Co. Crockett. Graham to Retain Office Assistant.
District Attorney Joe Graham will likely retain his office through the end of Linden term after resignation and persuasion. He and assistant Theo Simmang are preparing cases for trial at the Thirty seventh District Court special term convening late July.
Lead at 66.40 asked while copper remains firm with electrolytic at 24.00 to 26.00. Tin weak with spot offers at 38.88. North and South tin grades listed from 19.75 to 22.75 with varied ranges.
London on July 17 reports lead at 288, spelter 48, spot copper 8, futures 86, electrolytic 123. Spot tin 166 with 1200 futures at 157 pounds sterling.
Galveston July 17 reports the arrival of the El Cid from New York and the Mount Vernon during November, and Barrios. Sailed: RF A B McKinetry a British vessel heading for ports via Port Arthur.
Temperature above normal with rainfall of an inch or more at several stations. The report lists locations such as Montgomery Alabama Allendale Toccoa Hazelhurst Vicksburg and Robelinas with a general weather belt condition and notes Allen Buell as the meteorologist for the Weather Bureau.
Department of Agriculture weather bulletin notes morning observations for Monday July 17 1916. It records wind speeds under 16 miles per hour and rainfall under 0.01 inch amounts. Meteorologist Allen Buell is cited.
Classified ad offers 15 miles from Las Tonias in Corpus Christi area. acres with cultivation, 4 room house, windmill, and a 55 dollar per acre price. Includes encumbrance and payment terms. Leard and Schnelle contact at 316-17 Alamo Nat Bank Bldg Ty 186.
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