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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 09, 1936
Page
9
Professor Lewie Maney from New York University argues that global and national economies are failing to provide stable money, exchange, and growth. He warns that government debt and inflation erode savings, forcing a retrenchment in consumption and production while proposing saving as the only path to restore solvency and prosperity.
Six Black Legion members were detained in a kidnap case in Betroott on June 9. The charges involve abducting Robert Penfond, an ale worker, and coercing him to attend unreported meetings. Three captors reportedly transported him before a local authority for questioning.
A historical note explains the first formal government statement on federally established credit unions under an act of Congress. It describes cooperative management, eligibility by seven or more people with a community of interest, chartering, government oversight, deposits from a few cents, member loans, loan limits, dividend rules, and the 1935 profit average of 4.97 percent.
New York trading opened with restrained buying and scattered gains. Retail stocks led midday advances amid optimism from Sears Roebuck, Gimbel, Montgomery Ward, and others while rails touched higher values. Commodities and foreign exchange showed volatility as France guidance and reserve discussions weighed on sentiment.
London retain London quotes cover copper lead and silver prices with spot and futures figures in pounds and dollars. Foreign exchange rates show demand and cable and banker offers with New York call money steady at one percent input notes and bullion prices.
Market roundup shows mixed vegetable and fruit prices across Texas and U S markets. Sizable quantities of potatoes, yellow corn, cantaloupes, and tomatoes listed with varied weights and prices. weak demand noted in several hubs. prices for U S No 1 yellows and crystal wax cited, with regional differences and track car listings.
Livestock buyers and sellers reported varied demand across cattle hogs and sheep. Prices ranged with hogs steady near 2.70 to 4.60, cattle and calves mixed but largely steady, and sheep and lambs steady with strong spring demand noted in Chicago and Kansas City reports. Prices highlighted key loads of yearlings and feeder cattle, with several markets noting steady or firmer prices for top-quality lots.
Reading like a wartime dispatch, the article reports disputes over U S government disposal of machinery and tools from arsenals. It states lathes and other equipment, once used for armament, were sold as scrap or waste to private dealers who resold to Japan and Russia, with bids at Watervliet Arsenal yielding large sums. It notes officials cite shortages and quotes David Lloyd George on the need for supply. Leo Weiss and Morey Machinery are identified in the second-hand trade chain, signaling a booming but controversial market for used machine tools amid wartime.
WESLACO June 9 The world first bale of 1898 cotton may come this week as weather improves. A big rate has developed in the Valley with communities taking interest and a $500 stake posted for the first bale. Hidalgo Willacy and Starr counties lead contenders for the honor. Crisp crust noted for egg custard pies when milk is heated to the balling point before mixing with eggs.
Aberdeen observer reports D.W. Bleck and Ballimors zoologist recount a 1301 pound sea serpent found on a beach near berg. Description includes a goat like head and nine four foot tall muskeads with a ribbed body. Accounts compare to 1638 British Columbia sightings and rekindle tales of sun serpents.
Grain markets show upward movement in spring wheat with firm demand for shipment. No. 2 red winter and durum prices steady as futures edge higher. barley and oats mixed with minor declines. Regional quotes reflect North Dakota and Manitoba prices, with futures near unchanged and delivery windows noted through autumn contracts.
In New Orleans and New York, futures for cotton held steady with slight gains for some months. Prices ranged with July up while December and January showed modest movements, amid weather chatter and export demand.
New York report shows U S airlines' scheduled flying boosts gasoline use with 33,260,609 gallons consumed last year, up about 32 percent from the prior year, an all-time high. Kerosene and lubricating oil consumption also rose, totaling 79,775 gallons, near a six percent increase.
An afternoon report notes a plague outbreak starting on two farms near Coligny in Transvaal and spreading to adjoining properties. Officials claim precautionary measures are in place to prevent further spread as authorities monitor the situation and urge vigilance among nearby farmsteads.
The dollar market shows revived demand in foreign exchange with the United States dollar steady near 6.06 in New York terms. The French franc trades around 76.72 to the pound, versus 74.78 yesterday, while Paris reports mixed rates and commodities like sugar and turpentine fluctuating on light trading.
ANN ARBOR June 13. A physicist explains color origins in terms of atomic electrons. Dr C B Ellis of Michigan reports to the American Physics Society on experiments with metal oxide solutions to trace the color production mechanism.
In Oregon City an adult education woodworking class under WPA supervision by Robert L. Valleraux organizes women to make beds tables sewing cabinets and furniture using machinery. The program aims to provide practical skills and craft training for local women through the community education initiative.
A wide list of current quotations for fruits, vegetables, and meats from growers. Items include Beeplant at 250 a bushel, Texas Tilah potatoes at 150 a bushel, cabbage at 25 a bushel, carrots, beans, corn, and greens with multiple regional price points. Also noted are prices for apples, grapes, avocados, pineapples, and dairy products, with California and Texas origin references and assorted unit measures.
Market reports from New York and Chicago show poultry and produce prices largely unchanged. Butter and cheese markets in New York hold steady with mixed color egg standards, while wholesale wool demand in Boston remains moderate due to limited spot quantities.
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