Bears Break Market After May Options Pass 20-Cent Mark
Bears push stock futures higher as traders react to May options crossing the 20 cent mark. Liverpool strengthens position with robust play and strategic lineup changes.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Oct 25, 1916
Page
11
Bears push stock futures higher as traders react to May options crossing the 20 cent mark. Liverpool strengthens position with robust play and strategic lineup changes.
The daily quotations show mixed spot values across markets with San Antonio and Houston listing varied prices while New York and New Orleans saw price swings. A brutal late session bear assault pushed futures lower by up to 44 points before partial recovery.
Cotton prices surged with May touching 20.01 on the call as general list gained 17 to 98 points. December and January slipped early, then rallied to near intraday highs before late selling and margin calls caused a 90 to 100 point drop, with a partial recovery later.
New York reports firm early prices with October at 19.50 and December 19.51 while January 19.77 March 19.88 May 19.99 and July 20.00. Fashions show irregular closes with values around 19 cents for front months and noted declines for Liverpool opening later in the week.
New Orleans traders sent July to 19 89 as smaller ginning returns sparked an 82 to 39 point early rise. All months hit new highs with heavy buying and selling pressure creating rapid fluctuations before noon and a net 17 to 18 point gain by midday.
New Orleans tobacco? Cotton futures opened with varied gains and losses. December and January led the curve with December at 18.85 and March near 19.66. Prices closed irregularly with notable swings and unclear final figures across contracts.
A New York report notes fall 1917 prices for low grade cotton sweater coats at 4.75 a dozen and full finished light Oxford at 5.87. It tracks spinners delaying underwear contracts post January and outlines war munitions exports totaling 1.473 billion since January 1915, with 21 percent of total exports.
Wholesale prices to trade list Colorado potatoes at 3 dollars, California onions and lettuce, tomatoes from California at 1.60 per log box, cabbage Texas 3.50 per hundred weight, sweet peppers Texas 60 cents per 4 basket crate, apples California 1.50 to 2.26 per box, oranges Valencia boxes 4.50, lemons California 6.00. Includes beans greens squash carrots turnips okra peppers and many canned goods with unit prices across farm and trade categories.
Census Bureau reports 7,291,733 bales ginned before Oct 18, down from 7,619,747 in 1914 and 7,708,730 in 1915. State figures list Alabama through Oklahoma with varied gains and losses, plus sea island delivery by Florida, Georgia, and South Carolina.
Liverpool Oct 25 spot cotton holds steady with Good middling at 11.27 pence per pound, middling 11.124, and low middling 10.697. Sales reach 10,000 bales with 1,000 for speculation and sport. Receipts total 15,000 bales.
Liverpool reports irregular futures with odd month pair figures and rates from October to July. Details show values like October 11.08, November-December 11.07, December-January 11.990, through July-August 11.21%34.
Alarming reports of drought damage shrinking Argentina’s exportable surplus spurred a rapid rise in Chicago wheat prices. Opening gains of 0.5 to 2 cents widened to 1.84 and 1.834 for December and May, then fluctuated before closing mixed with a net decline. Corn showed initial strength while hogs supported firm provisions. traders cited active foreign buying and limited export demand.
In Houston on October 25 a local firm sold 605 bales of cotton for 19.40 cents per pound. Each bale weighed over 500 pounds and averaged $105 per bale, with the grade slightly better than middling.
In Chicago quotations newsprint shows No 2 red wheat at 91 81 1.838 percent No 2 corn at 1.07 1.09 and oats standard at 55 1 5c. Batley prices range 85 cents to 1.22 dollars.
Raw sugar prices in New York on October 25 show centrifugal at 6.52 and molasses 5.64 with refined sugar firm at 7.50 to 7.60. Sugar futures rise on covering and demand from commission houses as spot market firmness prompts higher noon prices by 4 to 6 points.
The Union Stock Yards report Oct 25 shows heavy receipts of butcher cattle and stockers. Steers $5.50 to $6, some up to $6.50. cows $4.80 to $5.25. calves $6 to $6.50. Hogs steady local and higher outside. feeders $6.50 to $7. packing hogs $8 to $9, higher for extra choice offerings.
Fort Worth Texas cattle receipts reach 6000 with steers 6.00 to 7.00, stockers 6.00 to 6.68, heifers 5.50 to 7.25, cows 3.50 to 6.50, bulls 4.00 to 6.00, calves 4.50 to 8.50. Hogs receipts 3000 with loads 10.00 to 10.20 and top 10.30. Sheep receipts 50 with lambs 9.00 to 9.50, yearlings 7.00 to 8.00, ewes 6.50 to 7.00.
In St Louis on Oct 25 receipts and price ranges were reported for hogs cattle and sheep. Hog receipts 8500 with varied grades from 10.10 to 10.60. Cattle receipts 6500 with native beef steers and cows in wide ranges from 5.30 to 11.15. Sheep receipts 2500 with lambs from 7.00 to 10.65 and ewes from 3.75 to 7.25.
The opening showed uneven moves in specialties such as Hide and Leather and International Paper with declines to near two points, offset by gains in Industrial Alcohol American Writing Paper Sugar California Petroleum and Marine. Rail stocks Rock Island Denver and Rio Grande led advances of 2 points or more as General Motors hit a new high of 850, with later trading irregular and leaders heavier.
Weather in the belt is fair except in the extreme east portion and unsettled. Temperature below normal for the four hours ending at 8 a m 75th meridian time in the Houston district. Allen Bueli meteorologist Weather Bureau.
Chicago market summary lists hog receipts at 41,000 and cattle at 26,000 with mixed to easy demand. Hogs show varying prices from 9.70 to 9.95 for heavy and rough. cattle range from 3.35 to 11.60 for cows, calves, and steers. sheep are weak with lambs 8.25 to 10.45 and mutton 7.00 to 8.20.
Wheat prices rose with No 2 red at 1.90 and hard at 1.86 to 1.95. Crates up with No 2 at 1.03 and No 2 white at 0. Oats advanced with No 2 at 54 cents, No 2 white unchanged. Rye steady at No 2 level.
Wheat and oats closed higher with December wheat at 1.75 to 1.76 dollars. Corn futures advanced with March about 1.53 to 1.55 dollars and May around 0.57 to 0.58 dollars, reflecting market moves in the Kansas City session.
Kansas City market shows receipts around 10000 cattle and 8000 sheep with steady tone. Prime fed steers bring $9.50 to $10.75, dressed beef steers $7.00 to $9.25, cows $4.50 to $7.25, lambs $9.80 to $10.25, yearlings $7.50 to $9.50, stockers and feeders $5.25 to $9.25. Pigs and hogs quoted at $8.75 to $10.20 followed by other light ranges.
Buyers paid varied rates Wednesday with chicken and poultry prices firm. Egaes and Texas candled goods held steady while country produce ranged 2 26c per pound for country, 30 34c for creamery, and 2225c for packing. poultry values showed hens at 6.00 per dozen, large friers 4.40 to 7.00, broilers 3.50 to 4.00, turkeys 19 to 20c per pound, ducks 4.80 to 5.50 per dozen, geese 6.00 to 8.00.
Quotations dated Chicago report butter and potato price changes. Butter up with receipts 4532 cases and live poultry higher, fowls up 1 cent. Minnesota and Dakota white potatoes quoted around 1.50 to 1.55 with regional price variations. Firsts and ordinary firsts for butter shown with higher values. additional case numbers noted.
Quotations listed for Butter Creamery firsts at 80 44c second 29c packing 27% c. Eggs firsts 6c. Poultry hens 16c roosters 11% c broilers 21% c. Potatoes Kaw Valley early Ohols firm at 1.65 per bushel.
New York quotes show lead at 7.00 to 7.10, spelter quiet, copper firm at 27.60 to 28.00 for electrolytic, iron steady, tin firm at 41.50 to 41.75. London prices list lead 80 pounds sterling, spelter 54 pounds, spot copper and tin levels with futures listed.
Local packing house quotations to dealers list prices for dry salt extras at 164%c bacon extras 18%c dry salt bellies 14 16 pound average 18%c fancy breakfast bacon 25c fancy hams 22c bacon bellies 14 16 pound average 20c Pure lard 17%c compound 14e.
New York report notes Vanderbilt with 208 points leading five and six game totals as football season halves advance. Syracuse sits second with 190, Dartmouth and Penn State tied at 174. Gerrish of Dartmouth tops individual scoring with nine touchdowns and sixteen goals for 70 points.
New Orleans dispatch notes strong interest in rough and clean rice. Receipts list rough 28,129 sacks and 18,220 sacks to mills with 10,973 pockets of clean rice. Sales include rough Honduras 2100 sacks and 406 to Japan. clean Honduras 5926 pockets and 930 to Japan. Blue Rose 2517 pockets. Carolina 220 kets. Prices cited for rough Honduras 2.70 to 4.19 and clean Carolina 2. half 4%c.
Observations taken at 8 a m Wednesday October 25 1916 note wind under 10 mph and precipitation under .01 inch not noted. A baseball league of American Samoa was formed with four teams representing the U S naval station the U S S Fortune Tutuila and the Fitafitas Native Guard. Commander John M Poyer governor U S N will pitch the first ball in the league’s opening game.
New York on October 25 reports tickings up one cent per yard to eighteen and a half cents for ACA goods. Print cloths reach a new high at eight cents for 38%%-inch 64s x 40s. All cotton goods and yarns hold firm. Men's wear shows more activity with spot price advances. Silks remain quiet.
Savanna h report shows turpentine steady at 44 percent with sales 264, receipts 555, shipments 538, stock 26 205. Resin activity listed with sales 1088, receipts 997, and stock values noted. prices quoted for several lots and buyers.
Princess Mary and the queen visit the Tower of London where a spiked armor suit prompts the queen to explain knightly chivalry. Mary ponderingly suggests such armor would have scratched the furniture, revealing a humorous view of medieval gear.
Young Ahearn of Brooklyn outpointed Len Rowlands of Milwaukee over ten rounds using a keepaway left jab. The bout ended in a no decision, held Tuesday night in Milwaukee.
Arkansas University football is at 234 points through four games this season, with opponents held under fifty. The Razorbacks are viewed as a strong contender in the Southwestern Conference title chase.
First lieutenants in medical reserve reassigned to Fort Sam Houston and several officers promoted or relieved. Colonels Michie Johnson Hinds and Parker named. Bowes Bowen to Aero squadron. Glassford to Fifth field artillery. Jackson retired to Eagle Pass. Dacos ta to retiring board. Campbell granted one month leave. resignations accepted for Nicholson Miller Elliott Gordon.
The Watson trial in Teague, Texas, is set to begin tomorrow with a venire of 159 men reduced by nineteen moved to other counties. Banker T. R. Watson faces charges in the August 28 killing of John S. Patterson, state banking and insurance commissioner. Judge Munro voided the prior venire due to improper service. About 175 witnesses have been ordered to report.
Ottawa reports a tentative accord between Canadian Pacific railway officials and railway workers to settle the threatened strike. The agreement will be signed later today, per a Winnipeg telegram to Labor Minister Crothers.
Winnipeg date notes that a threatened CPR strike by conductors and trainmen, scheduled for tonight, was called off following a conference between union representatives and railway officials.
Esther rejects Harrys marriage proposal citing excessive compatibility of temperament as a flaw. He questions the idea while she explains that finances would force him to manage and skimp on household help, highlighting a clash over independence and economy.
A Washington Star quote notes the American Indian can excel in national pastimes and adaptable dancing. Misa Cayenne comments on his natural toeing and unique facility in modern dance, reflecting cultural perceptions.
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