Saturday racing dull as cotton prices uneven
Market observers report a quiet Saturday with sparse racing activity and uneven cotton prices. Traders note small range shifts amid limited demand.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 29, 1916
Page
7
Market observers report a quiet Saturday with sparse racing activity and uneven cotton prices. Traders note small range shifts amid limited demand.
The New York cotton market opens with declines of 6 to 6 points amid gulf disturbance disappearances and Wall Street pressure. Texas showers ease drought fears while eastern belt rain forecast. prices drift lower after early rallies, with October at 13.24 and January at 13.48.
New York cotten futures for October 13.23 December 0 January 13.46 March 13.59 show small declines. Trading ranged with highs near 13.40s and lows around 13.20s, closing broadly lower for the session from earlier gains.
San Antonio cotton buyers paid specific local prices for cotton delivered at the presses on Saturday. The report lists prices achieved by buyers in the San Antonio market, detailing amounts paid for various fiber grades and lots.
New Orleans July 29 The ton market was steady in early trading with price changes small and mostly evening-up actions. First hour prices ranged from 02 points under yesterday to 0.2 above. A private bureau report on 8 percent normal activity aided slight gains as market moved modestly higher then steadied, with 1 point net declines to 1 point gains.
In New Orleans on July 29 the cat market opened steady with August at 12.96 cents, October 13.07, December 13.23, and March 13.48. Futures showed minor gains and losses, with erratic quotes and unsettled highs and lows. Liverpool Cotton Holiday noted with Iron Exchange closed on Saturdays August 6 12 19 26 and September 2.
Cotton seed oil prices for September to December are listed with ranges and totals for the period. Commodity freight rates from St Louis Dubai to several Texan cities are deemed unreasonable by the Interstate Commerce Commission, while Kansas City rates remain challenged relative to St Louis. Butter in Elgin shows a price increase with 50 and 28 cent figures noted.
A long list of wholesale prices is presented for fruits vegetables and staples to trade buyers. It includes Texas California and Washington origin items such as potatoes onions tomatoes peppers cucumbers apples grapes and dried fruits with per unit or per crate rates. The notice also features canned goods meats and fats with wholesale price points and seed and hog prices.
Shippers paid steady to firm prices for reefed spuduce and other goods in San Antonio. Butter and creamery products held steady with per pound quotes, poultry markets showed even pricing, and poultry items like hens friers broilers and turkeys plus ducks and geese posted stable ranges.
Butter higher with creamery at 24 27 cents per pound. Receipts total 7619 cases across firsts and ordinaries with varied centage marks. Potatoes drop as 20 carloads arrive. Virginia barrels fetch 2.25 to 2.30, Virginia bulk 78 to 88 cents, Missouri and Kansas 65 to 70 cents. Poultry alive weight fowls 17 cents, springs 20 to 22 cents.
Quotations to Gay recorded in Kansas City report show butter at 28 cents for firsts and seconds with packing 21 1/2 cents. Eggs for firsts 22 1/2 cents. Poultry Hens locally roosters 10 cents broilers 2 cents. New potatoes steady Oklahoma Arkansas Texas and Louisiana 60 cents. Kaw Valley early Ohios steady 60 cents.
In Chicago on July 29 the wheat market faced a bearish tilt as forecasts of cooler northwest weather and ongoing reports of black rust in the Dakotas and Minnesota spurred selling. Canadian prospects and rising winter wheat receipts added to pressure, with September and December futures ending lower after an unsettled session. Oats weakened slightly while provisions moved with hogs, and corn mirrored the late wheat weakness in a generally unsettled close.
Market brief notes New Orleans cotton prices and trends, with emphasis on current values and anticipated movements. Traders monitored futures and spot quotes across major upland grades, reflecting supply pressures, demand shifts, and regional freight factors.
Final quotations for the week list grain and pay delivered in San Antonio. Corn spreads include Texas No 2 at 94c, mixed 92c, Northern No 3 white 1.00. Oats Texas No 3 red 44c. Hay prices show Milemaige No 3 bulk 1.15, feterita bulk 1.15, Kaffir corn bulk 1.15, cane hay 12.50 per ton, prairie 12.50, John son grass 12.60, alfalfa New Mexico 15 per ton.
Chicago reports mixed grain quotes with wheat and corn values. No. 2 red wheat at 1.27 dollars, No. 2 hard at 1.23, corn No. 2 yellow at 0.8314, oats standard around 41 to 42 cents, barley about 64 to 71 cents per bushel.
Quotations today show wheat lower with No 2 red at 1 28 1 83 dollars and No 2 hard at 1 214 1 22. Corn declines with No 2 at 81 81 4 cents and No 2 white at 81 4 cents. Oats also slip with No 2 at 39 39 4 cents and No 2 white at 41 42 cents.
Quotations show No 2 hard 1.21 and 1.26 for futures or basis, No 2 red 1.19 to 1.26, corn values for No 2 mixed 79 to 80 cents, No 2 white 80 cents, No 2 yellow 80 cents, oats No 2 white 42 to 43 cents, No 2 mixed 39 to 42 cents.
Grain futures closed steady in Kansas City with Wheat July at 1.15 and Sept at 1.15, and Corn July at 80 1/2 cents and Sept at 76 1/2 cents.
Local packing house quotations for the week show dry salt extras at 16 cents, bacon extras at 17, dry salt bellies 14 to 16 pounds average 18, fancy breakfast bacon 27, fancy hams 26 to 28 cents, bacon berries 14 to 16 pound average 19, pure lard 14, compound lard 12 cents.
The Interstate Commerce Commission suspended a proposed coal and coke rate increase of 10 to 35 cents per ton from New Mexico over the Santa Fe route to Texas and Louisiana until November 29. The action was announced in Washington D C on July 28.
Cattle receipts 200 with market unchanged. Hogs 500 receipts down with heavy, mid, and light categories priced from 9.35 to 9.80. Sheep receipts none and market steady with lambs 9.00 to 9.76, yearlings 8.00 to 7.75, ewes 6.00 to 6.75, goats 4.50 to 5.50.
Receipts totaled 1200 hogs 250 cattle and 600 sheep with prices for hogs ranging from 9.75 to 10.65 per cwt and cattle sales from 5.00 to 10.26 for native beef steers and prime yearling stock. Sheep market held steady with bleating ewes at 9.50 to 10.00 and spring lambs 7.00 to 10.00.
Chicago dairy hogs and cattle receipts listed for July 29 with market firm to steady. Hog prices ranged from 9.20 to 10.20 for various weights, cattle receipts about 400 with beef cattle from 3.50 to 9.25, calves 8.50 to 12.00, and sheep receipts 800 with wethers 6.90 to 8.80 and lambs 7.25 to 11.05.
Receipts and prices shown for hogs cattle and lambs in Kansas City on July 29. Hogs receipts 500 with buyers quoted strong to five cents higher and ranges for bulk heavy and packers. Cattle receipts 200 with market steady and varied values for prime fed steers dressed beef and cows. Lambs and yearlings listed with price spans for different classes.
Turpentine firm in Georgia reports 438 sales, 151 receipts, 295 shipments, and stock totaling 14 690. Another firm shows 1065 sales, 1389 receipts, 798 shipments, and stock of 69 872 with various notations and price points such as 6.10 6.18 6.25 6.50 6.65 6.90 among listed letters.
New Orleans reports rough rice steady and clean rice quiet with unchanged quotes. Receipts total 800 pockets while sales of clean Honduras reach 1621.
Observations recorded at 8 a m on Saturday July 29 1916. Wind speeds under ten miles per hour and precipitation under .01 inch are not published. Weather Bureau meteorologist Allen Buell notes the data.
United States District Judge Van Valkenburgh sustains ICC ruling in favor of E B Spiller representing the Texas Cattle Raisers Association against the Missouri Kansas Texas railway. Spiller sought about 150000 dollars in excess freight charges. The case arose from ICC verdict previously favoring the cattlemen.
Shreveport officials announced five cent per barrel cuts for Caddo heavy and Red River crude oils and one cent per gallon gasoline at local filling stations. Texas Company set the oil prices with Standard and Gulf yet to match. Gasoline drops bring stations to 20 1/2 cents per gallon, effective Friday. this marks the second cut of the week.
Independence Kansas July 29 The Prairie Oil and Gas Company reduced crude oil by ten cents per barrel bringing the price to 1.35 dollars per barrel Local price cut announced at Independence Kansas in today’s report.
Swiss officers report success with a compact peering device that attaches to rifles enabling shooting from cover. Described as weighing about 5% ounces and usable lying kneeling or standing the system promises ammunition savings and steadier aim at 300 to 500 meters and beyond.
A humorous note from Exchange recounts young Bobby praying for a sister and deciding to stop, then being surprised when his mother later presents two sisters. He reflects that stopping praying was fortuitous.
Irregular trading opened the session with mostly nominal moves but a general uptick. United States Steel slipped briefly then recovered. Mexican Petroleum, Marine preferred, Industrial Alcohol, Studebaker and Baldwin Locomotive edged higher as rails also improved. Reading, Norfolk and Western, Illinois Central and Canadian Pacific led gains while Anglo-French bonds traded heavily and new French notes held at 98.
Bar silver quoted at 396 164 per ounce while money market rates show 4 percent. Discount rates listed for short bills at 5 percent and for three months at 5 5 percent, reflecting a firm money market with stable short-term yields.
On July 29 in New York Mercantile paper yields 4 percent. Sterling exchange bids 4.71, demand 4.76, cables 4.76. Guilders demand 417 16, cables 414. Bar silver 63 1 2, Mexican dollars 48 1 2. Government bonds steady. railroad bonds easier.
In New York on July 29 the No. 7 softs futures held steady with September at 8.43 and December at 8.54, reflecting firm but unchanged prices amid market activity.
The Cotton Region bulletin notes unsettled weather across the belt with near normal temperatures. Rainfall totals exceed one inch at Shreveport Louisiana Blackville and Kingstree South Carolina New Bern North Carolina Huntsville Texas and other locations. Meteorologist Weather Bureau reports.
Ad notices report a Bexar Social Club shirtwaist dance set for Saturday at W O W Hall with 25 cent admission. The page also lists local ads and brief items on accidents and community happenings including a serious train automobile collision involving a boy and a wedding trip, with various local services and sales.
A Seattle story reveals a large scale covert traffic in Chinese laborers smuggled to the United States via empty oil tank cars. Fundeberg, a Great Northern fireman, was convicted in a related case. The scheme uses Canadian ports like Vancouver and False Creek and ends in Everett Seattle or Portland with high fares and C O D deliveries.
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