Dry Weather and Peace Talks Lift Cotton Prices
Market activity rises as dry weather boosts cotton demand while peace talks influence bullish sentiment. Traders monitor futures as prices move higher on improving prospects.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Mar 22, 1916
Page
13
Market activity rises as dry weather boosts cotton demand while peace talks influence bullish sentiment. Traders monitor futures as prices move higher on improving prospects.
The New York cotton market opens steadier with May down two points while other months rise one to three points. July and October climb to 12.20 and 12.26 as Liverpool interests buy and weather in the western belt favors clear conditions. By noon prices ease but stay near last night levels with July around 12.15 and October near 12.44 as activity remains quiet.
Cotton futures in New York opened steady with May at 11.96 cents, July 12.10, August 12.20, December 12.35, and January 12.20. Futures finished the day 1 point down to 8 points higher, with reported highs and lows shown for May July and October. Liverpool expected to open Thursday for a 3 to 4 points lower call.
Buyers in San Antonio paid stated prices for cotton delivered at local compresses on Wednesday. Grades listed include strict middling, strict low middling, low middling, and strict good ordinary with varying prices.
In New Orleans on March 22 the cotton market gained 8 to 10 points in early trading as shorts hurried to cover amid rainless belt and Europe peace talk. Fresh buying and moderate volume kept prices advancing 10 to 11 points by noon before a light afternoon sag. by 1:30 PM the net rise stood from 2 to 6 points with good spot demand supporting the market.
New Orleans market reports steady opening in cotton on March 22 with May 11.83, July 12.01, October 12.00, December 12.11, January 12.17. closes 1 to 2 points higher amid varied daily highs and lows for subsequent sessions.
Cotton spot easier with good prices in Liverpool. Spot middling at 7.774 and low middling 7.514 with 6 thousand bales traded and 38 thousand bales receipts. Futures shown for months from March to March-April around 7.62 to 7.27 pence per pound with varying spreads.
New York on March 22 reports spot cotton seed oil steady with bids for March at 5 dollars. Futures prices quoted for April to October range from 9.73 to 11.00 dollars, with total sales reaching 25,400 units.
Classified notice seeking a middle aged woman with German preferred to work as a nurse and companion. Applications accepted at 114 East Cincinnati Ave.
California raisin crop dominates trade with large output and steady prices. Fresno county accounts for about 60 percent of production while domestic demand remains high, boosting imports down from 1885 levels. A 1912 organized effort seeks wider use of raisins.
Wholesale market prices for fresh vegetables and fruits across states. Potatoes onions cabbage peppers beets beans squash and more listed with per unit weights and regional sources Texas California Florida Louisiana Washington and others. Also includes canned goods coffee sugar and dried fruits with multiple price points for wholesale trade.
Market snapshot shows Texas prices in San Antonio with weekly cotton trends. Analysts report price movements, demand notes, and regional factors affecting supply. Local traders monitor futures, cash price quotes, and transportation costs shaping today’s outlook.
Good demand for cattle hogs and sheep noted at Union Stock Yards with higher early offers and active trade. Fort Worth and San Antonio show steady to firm prices. cattle receipts about 2,500 with steers 6.50 to 7, hogs 9.00 to 9.25, lambs 8.50 to 9.50. goats and sheep limited offerings with steady values.
Trading on the Chicago Board opens with corn futures slipping after an initial rise amid Northwest spring fears and peace talks. May and July wheat advance while corn shows selling pressure as oats mirror the trend and provisions stay steady.
Grain buyers in San Antonio posted Wednesday prices for Texas and northern grades. Wheat ranged from 1.28 to 1.31 per bushel, corn No 8 Texas and No 2 northern 78c and 77c, oats Texas red 48c in bulk 56c in sacks 67c, northern white oats 77c in bulk. Oklahoma prices matched Texas grades.
The value of Carranza money sank to 2 cents on the dollar in San Antonio on Wednesday as confidence in the Constitutionalist cause wanes after American troops crossed the border. Daily Mexican currency turnover is now only a few hundred dollars versus past peaks of about a million in a day. The 2 cent quote is the lowest seen locally, after a 10 cent high shortly after U.S. recognition of Venustiano Carranza.
Quotas for dry salt bacon bellies and fancy bacon set between 14 and 18 cents a pound with 16 percent for extra bacon and 21 cents for fancy hams. Pure lard quoted at 12.5 cents. Chicago market notes include wheat, corn, oats and barley bids with No. 2 red and hard wheat nominal and corn at 76 cents.
In St Louis on March 22 quotations showed No 2 red wheat at 1.17 and No 2 hard nominal. Corn values listed as No 2 at 72 1 2 cents and No 2 white at 72 4 cents. Oats remained nominal for No 2 and No 2 white.
Trading in Mexican money in San Antonio was reported with quotations recorded for Wednesday. The notes indicate market activity and price levels for the currency in the local money market.
Kansas City March 22. Wheat prices ranged No 2 hard 1.08 to 1.10 dollars. No 2 red 1.05 to 1.10. Corn No 2 mixed 68 cents No 2 white. Oats No 2 white 46 to 45 cents No 2 mixed 41 to 43 cents.
Kansas City market notes show wheat May at 1.00, July at 1.00. corn May 68 and July down modestly amid light volume.
Time loans showed little change with 60 days at 2.14073 percent, 90 days at 2 to 3 percent, and six months at 3 percent. Call money eased with high at 2 percent, low at 1 percent, ruling rate 2 percent, last loan 2 percent, closing bid 1 percent, offered at 2 percent.
Buyers paid prices for country produce delivered in San Antonio on Wednesday. Texas candied fruit 16% art, butter firm, Texas mery 31 33 cents per pound. Country 170cc packing stock 17 18 cents per pound. Poultry firm with hens per dozen 5.00 6.60, friera 4.00 6.00, broilers 3.60 4.60, turkeys 17 18 cents per pound, ducks 4.50 5.50 per dozen, geese 7.00 10.60 per dozen.
London market on March 22 reports bar silver at 27 ½ cents per ounce and Money at 4 ½ percent. Discount rates for short bills and three months stand at 5 percent.
Chicago market notes butter up to 31 3644c creamery eggs rise with 24 106 cases firsts at 1942c ordinary firsts 1184c. Potatoes fall with 85 carloads from Wisconsin Michigan Minnesota and Dakota white 95c. chips 850 98c. Poultry alive unchanged fowls 17c springs 174c.
In Brownsville March 22 the defense in Lieutenant John E Mort's Merced es court martial argues the border raid was guided by humanity as they sought missing soldiers. Prosecutors contend Mort disobeyed orders, crossed the Rio Grande and violated sovereignty while pursuing two soldiers' fate.
St Louis market notes show hogs receipts 16 500 higher with prices 7.00 to 9.75 per cwt. Cattle receipts 4500 steady with native bulls and cows priced from 4.00 to 9.60. Sheep receipts 2800 steady with yearling wethers 9.00 to 10.00 and lambs 9.00 to 11.65 per cwt.
Chicago reports show hog receipts at 23 000 with mixed bulk and heavy categories trading around 9.30 to 9.70 per cwt. Cattle receipts 13 000 with native beef steers 7.50 to 9.90, western steers 7.50 to 8.65, cows and heifers 3.80 to 8.70. Sheep receipts 10 000 with weth ers 8.40 to 9.15 and lambs 9.75 to 11.70.
Butter price notes list 34c for firsts 32c seconds 30c packing 20 2c. Eggs firsts 20c. Poultry prices include Heng 16 1c turkeys 20c springs 25c.
Vice Consul A Gordon Brown reports to the Commerce Department that coquito nut exports from Mazatlan to the United States totaled 620277 pounds in January and February, valued at 33106 dollars.
In Savannah on March 22 the Turpentine firm shows 50 percent sales 6K with receipts 129 and shipments 195 stock 8165. Resin firm reports sales 498 receipts 868 shipments 1653 stock 767284. Prices listed include multiple grades from $5.00 to $6.60 with various letters denoting grades.
Receipts show hogs 11000 higher with bulk $9.20 to $9.50 and pigs at 93.00 8.75. Cattle demand higher led by prime fed steers at 9.25 9.60 and dressed beef steers 8.00 9.15. Sheep receipts about 5000 higher with lambs 10.85 11.50 and yearlings 9.50 10.40.
New Orleans on March 22 reports strong rice trading across grades. Receipts and sales included rough Honduras at 3.85 dollars, Japan at 3.65 to 3.86, and clean Honduras at 3.40 to 3.36 per hundredweight with hundreds of pockets traded and price notations unchanged.
New York reports prints cloths firm at top prices and yarns steady to firm. Men's wear stays in steady demand for spring and fall. Labor troubles in silk piece manufacturing centers threaten to disorganize the industry. A London unrelated street anecdote is noted in the piece.
On March 2 in New York raw sugar weak at centrify 5.71 and molasses 4.94. Refined sugar quotes include cut loaf 8.05 mould A 7.40 cubes 7.40 and powdered 7.05. Other notes show powdered, refined, and numbered grades with several misprinted values.
U S Department of Agriculture weather bulletin notes 7 am observations for March 22 1916. Wind under ten mph and precipitation under .01 inch are omitted. Allen Btell Local Forecaster State Riding Master humor noted in Bystander reference.
New York March 22 Special stocks led by the war group opened the market in strength while the representative class remained firmer. Bethlehem Steel fell five points, Baldwin Locomotive, Crucible Steel, Tennessee Copper, Industrial Alcohol, Butte and Superior and American Zinc slipped one to two points. New York Central and Chesapeake and Ohio were the strongest rails, United States Steel held yesterday's close. Specialties rallied later with Marine preferred showing strength.
Mercantile paper 8 3% consumed, sterling 60 day bills at 4,724 dollars, demand 4.764 percent. Cables report 42% for Guilders and 42 percent for cables. Bar silver at 58 1/8 percent. Mexican dollars at 4 1/2 percent. Government bonds firm while railroad bonds hold steady.
New York market notes lead at 7.8 bid with no spelter quoted. London prices show lead at 1.36 and spelter at 1.94, with London figures given as 1.36 for lead and 0.94 for spelter.
The Texas Department of Insurance and Banking certifies that Phoenix Insurance Company of Hartford Conn has complied with Texas laws and holds authority to do business in Texas for the year ending February 28 1917. Signed by John B Patterson at Austin.
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