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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Oct 30, 1916
Page
11
Fragmentary weather note reports clear to cloudy conditions with possible rain and snow. Mentions arrows wind, low temperatures near zero, and a small precipitation amount around 0.1 inches with a note on maximum wind.
Cotton prices continue to fall amid weak demand and unsettled trading. Market observers note a nervy atmosphere with Liverpool market activity described as very weak and futures trading showing renewed pressure.
The principal market quotes middling cotton across cities with San Antonio at 17.38. New York and New Orleans fell 32 to 40 points from Saturday, while Liverpool traded 10.82 pence. The day saw broad declines and nervous selling, aided by bad news of a British steamer sinking off Ireland.
The New York cotton market opened with declines of 7 to 18 points as easy cables sent prices lower. January slipped to 18.69 and May to 18.98, with widespread selling and active liquidation before midday. Spot demand was quiet, shipping unease grew after a British steamer was sunk off Ireland, but late deals saw some midday rallies and cover on declines.
New York cotton futures opened steady with December at 18.80 and later closed barely steady. Tracks show January 18.70, March 18.86, May 19.01, and July 19.01. The 11 o'clock call notes Liverpool set to open Tuesday, down 7 to 8 points, with the call closing near 18.50 to 18.97 across months.
New Orleans Oct 30 cotton opens 8 to 14 points down as Liverpool market weakness drags prices. Texas telegrams report picking nearing end in key areas. By midmorning declines narrow to 2 to 4 points, then noon shows 41 to 46 point net losses for nearby months. Afternoon trading steadies, closing with a 14 point daily decline.
New Orleans markets report cotton futures opening steady with December at 15.10 and January at 18.27. Futures Seacull shows mixed high and low readings, with most months trading around 18.2 to 18.8 cents, reflecting a cautious tone as traders parse the day’s quotations.
Spot cotton prices near ten pounds sixpence per hundred weight with receipts 2000. Futures barely steady with October November December January February and May futures quoted around 10.6 to 10.8 per unit and varied slight shifts across the season.
Doctors say war disruptions push U S consumers to switch from olive oil to corn oil. Dr William P Cutler notes U S grows three billion bushels of corn yearly and each bushel yields oil mainly used in starch products. By product oil now directed to salad oil markets replacing costly olive oil. Also reports brisk Trade Row activity with better receipts though car shortages hinder shipments. prices for potatoes onions apples fish and grapefruit listed with latest quotes.
New Orleans argued to host one of the federal farm loan banks in a hearing before three board members. The city urged a district covering Louisiana, Mississippi and Alabama, with a possible expansion to include Florida and Arkansas if a larger district was deemed essential.
Local packing house quotations to dealers list dry salt extras at 16 1 2 cents bacon extras at 18 cents dry salt bellies averaging 14 16 pounds at 18 cents fancy breakfast bacon at 7 cents farcy hams at 22 cents bacon bellies 14 16 pound average at 20 cents pure lard 17 1 2 cents compound 14 cents.
New York Oct 30 Two factors dominate the iron and steel scene last week heavy shell steel demand from the allies and brisk domestic pig iron buying. Shell steel purchases are expected to surge in the second half of 1917 with over 600000 tons reserved for shipment after June. Car and locomotive builders are securing steel bars plates and shapes to support plans for 20000 cars and 800 locomotives under recent contracts and renewals in fabrication work.
Drought advisories from Argentina boosted wheat as Rosario market rose fifteen cents amid tight world shipments. Domestically, profits trimmed gains but strengths in wheat curbed wider declines. Openings varied, with later upturns, and corn remained weak while hog arrivals weighed on pork. European stocks thin, U S supply relied upon to fill gaps.
Quotations listed in St Louis show wheat steady with No 2 red at 1.91 and No 2 hard at 1.91 to 2.00 dollars, corn higher at No 8 around 1.08 to 1.11, oats steady at No 2 and No 2 white quoted nominal, rye higher at No 2 about 1.40 dollars.
Quotations show gains for wheat with No 2 hard at 1.88 1.94 and No 2 red at 1.941.92. Corn remains steady with No 2 mixed 1.00 1.01 and No 2 white 1.01. Rye ranges 1.38 1.40.Feed grades cot.
Kansas City futures closed with wheat around 1.84 dollars and 1.82 for May. Corn December at 14 percent and May at 86 cents per bushel, reflecting modest gains and shifts across grain contracts.
Dealers report steady markets in San Antonio with country candled butter at 25 to 26 cents, creamery butter 30 to 34 cents, poultry firm including hens at 6 to 8 dollars per dozen, large fryers 4.50 to 7.00, broilers 2.50 to 4.00, turkeys 19 to 20 cents per pound, ducks 5.50 to 6.00 per dozen, and geese 7.00 to 9.00 dollars per dozen.
Chicago Ill Oct 3 Quotations for butter higher Creamery 31 1 2 to 35 cents Eggs higher Receipts 3335 cases firsts 71 2 32 cents ordinary firsts 29 310 at mark Cases included 26 1 2 cents Potatoes lower receipts 195 cars Minnesota and Dakota white 1 60 to 1 70 Wisconsin and Michigan white 1 50 to 1 70 Poultry alive lower Fowls 16 1 2 cents springs 16 1 2 cents
Market brief from Kansas City dated Oct 96 shows quotes for Butter at 29 1/2 to 31 1/2 cents, Creamery butter firsts and seconds reported, Bees firsts 3 cents, Poultry prices for hens and roosters 12 cents, broilers 20 cents, Potatoes firm with Northern early Ohio and Colorado rurals at 1.66 dollars per bushel.
Oct 30 at Union Stock Yards Fort Worth and St Louis reports scarce butcher cattle with prices steady from last week. Hogs fall 5 to 10 cents outside markets, choic e butcher stock up to 9.50 while stockers and feeders reach 7. National Live Stock Exchange asks ICC to cap stock cattle hogs and sheep rates at 75 percent of slaughter market rates to fix publication disparities.
Fort Worth market notes for October 30 show cattle receipts around 9000 with prices 10 to 15 cents lower. Steers 6.00 to 7.50, stockers 6.00 to 6.75, heifers 6.50 to 7.60, cows 3.50 to 6.00, bulls 4.00 to 5.00, calves 4.60 to 8.50. Hog receipts about 3500 with bulk 9.80 to 10.00, top 10.05. Sheep and lambs steady with lambs 8.50 to 9.50, yearlings 7.00 to 8.00, wethers 6.75 to 7.00, ewes 6.50 to 7.00, kids 4.00 to 5.00, goats 2.76 to 6.26.
Receipts and quotations from Chicago show hogs slow at 9.50 to 10.20 for various orders, cattle receipts 28,000 with native beef cattle at 6.40 to 11.55 and calves up to 7.90, and sheep receipts 30,000 with wethers 7.26 to 8.50 and lambs 8.30 to 11.10. Market tones reflect weaker hogs and steady sheep.
In St Louis on October 30 receipts show hogs 13 000 with prices 6 to 10 cents lower, lingers around 9.65 for the top, beef cattle receipts near 9 000 with markets steady, ranges for native steers from 7.50 to 11.00 and cows from 4.50 to 7.50, yearlings and calves also listed, sheep receipts about 3 000 with higher prices from 7.50 to 10.75 for lambs and 3.75 to 7.25 for ewes and yearlings.
Receipts and quotations from Kansas City show hogs at bulk 9.65 to 10.00, heavy 9.90 to 10.06, cattle receipts 27,000 with prime fed steers 9.50 to 11.00, dressed beef steers 7.90 to 9.25, southern steers 5.50 to 7.60, cows 4.50 to 7.25, heifers 5.50 to 9.00, stockers 5.55 to 7.25, calves 6.00. sheep receipts 14,000 with lambs 10.49 to 11.00, yearlings 7.50 to 8.0, wethers 7.90 to 5.00, ewes 7.36, stockers 5.25 to 10.0.
Receipts today show cattle at 177 head steady, hogs at 3300 down about 10 cents, and sheep at 2500 steady. Notable consignments include Milward Gazebo Oklahoma with 26 steers averaging weight 904 pounds at 6.20, Dunn Elgin with 30 steers around 928 pounds at 6.20, and Moffett Fuson Glahama with 30 steers about 853 pounds at 6.85.
Lead at 87.00 with delivery 9% 10 copper first quarter at 28.00 iron steady with No.1 northern 22.00 to 22.50 No.1 southern 21.25 to 21.75 No.2 21.00 to 21.50 tin firm spot 41.87 to 42.25.
London market prices show lead at £30 10s and £53 5s for spelter. Spot copper trades at £125 with futures £120 and electrolytic £143. Spot tin at £181 10s and futures £183.
The Interstate Commerce Commission suspended for export the Missouri Pacific lines increases in cotton rates from Alexandria Bastrop Rayville Eeeees and Clayton Louisiana until March 1. The action affects shipments for export and shifts the price outlook for the region's cotton trade.
The market opened higher with copper, sugar, paper and shipping shares leading gains of 1 to 2 points. United States Steel rose while others such as Centra Leather, Westinghouse, Lackawanna Steel, Republic Iron and Baldwin Locomotive gained. Rail stocks Rock Island, Erie, Kansas City Southern and Union Pacific were up. some declines appeared in Reading, Denver & Rio Grande and Crucible Steel with motor shares slipping. Mid-session reversals trimmed some gains before a late rally on abroad reports. final dealings were irregular.
Cotton Region Bulletin reports 24 hour weather ending 8 a m 75th meridian time. Belt generally fair with unsettled rain in the extreme east. Temperatures near normal with rainfall of an inch or more at Atlanta and Savannah. Buell meteorologist Weather Bureau.
New York Oct 30 Prices for cotton goods are expected to stay high as mills pay 19 cents a pound or more for cotton. Gray goods brown sheetings and the new duck list about Nov 10 will lift margins. Demand for immediate goods remains steady with wage pressures reported. export balance favors the U S with current prices listed for print cloths indigo denim tickings and ginghams.
New York reports quiet raw sugar at 6.64 for centrifugal and 5.77 for molasses. Refined sugar shows steady quotes across cut loaf to No 1 at 8.65 down to 7.35 for No 1. Futures opened very quiet with noon prices 2 to 4 points lower on liquidation.
Resignations accepted include Captain Ansel G. Kineman of North Dakota and Captain Andrew A. Wagnon. Lieutenant Robert Baeae New York and Captain Lawrence S. Carson are reassigned at Fort D. A. Rose with termaster duties.
The list records numerous guests and registers: Mr. and Mrs. Charles Pfaff of Boston stay at the St Anthony, W T Matlock of Floresville at the Gunter, Alfredo Perez and I M Castro of Laredo at the Menger, plus many others from Albuquerque, Alpine, Mobile, Clarendon, San Benito, Austin, Washington DC, Galveston, Mexico City, Fort Worth, Joplin, and more. Glen Stringfield from Orchard, Nebraska departs for Llano Grande for Y M C A duty with Nebraska troops.
On Oct 30 in New York mercantile rates show 60-day bills at 4 7 1 percent, commercial paper 60-day bills at 4 7 0 4 percent, demand 4 75 percent, cables 4 76 percent. France demand 5 84 percent. Guilders demand 40 percent, cables 41 percent. Bar silver 67 cents, Mexican dollars 52 cents. Government bonds steady, railroad bonds irregular.
Time language shows easy rates with 60 and 90 day loans at 3 3% per cent. Six months at 34% and %% per cent. Call money steady. High 2% per cent, low 2% per cent, ruling rate 2a cent, last loan 2% per cent, closing bid 8% per cent, offered at 2% per cent.
Edinburg, Oct 30 John Closner of Edinburg, president of the Hidalgo County Citrus Association, announced that an investigation of the Rio Grande valley fruit districts shows them entirely free of citrus diseases. Wrentings in a year are said to exceed 100,000.
Observations taken at 9 a.m. Monday October 30 1916 by Weather Bureau observers in Allen Buell area. Data covers temperature, humidity, wind and sky conditions. Record notes atmospheric measures and station identifiers for regional meteorological monitoring.
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