Cotton Prices Rally After Decline. Liverpool Improves
After a spasmodic decline in cotton prices, market activity surges as prices soar again. Reports indicate Liverpool's market performance improves amid renewed demand and trading volume.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Sep 19, 1916
Page
11
After a spasmodic decline in cotton prices, market activity surges as prices soar again. Reports indicate Liverpool's market performance improves amid renewed demand and trading volume.
Prices rise across New York and New Orleans as bullish signals from the crop-condition reports and impending weekly gains sentiment push markets higher. October around 15.93, December 16.12, January 16.16, March 16.32 with gains of about 21 to 31 points noon to close steady.
The New York cotton market opened with renewed firmness as prices rose from 15.87 to 16.18 for December and 16.26 for January amid active buying from Liverpool, New Orleans, and spur houses. Traders cited heavy realizing and speculators reentering after recent declines, with overall trading easing later in the day and prices retreating modestly from peaks.
Futures opened barely steady with October at 15.75 and December 15.04, January 16.04, and March 16.19, then closed very steady as the market held firm through the session.
In New Orleans the cotton market opened higher by 5 to 7 points on better Manchester and Liverpool news. Heavy selling followed, but by late morning trading months stood 28 to 29 points above yesterday's close before a spot demand push steadied prices. By 1:30 trading months showed 23 to 26 points gains over the prior close.
Liverpool Sept 19 cotton market reports good middling at 9.714 cents with high and low variations. Sales total 8000 bales including 500 for speculation and export. Receipts recorded at 6000 bales with noting of market conditions for the day.
Liverpool reports futures prices for wool and related commodities with settlements across multiple monthly spans. The data lists September through July futures, with ranges around 9.4 to 9.6 and minor adjustments, plus stray contract figures such as Race Cavohe and October.
Market 15 reports near famine levels for hens chickens turkeys ducks and geese as supplies lag. Fryers wholesaled at 60 cents each with wagons on Market Plaza nearly empty and hucksters unable to secure stock while demand remains steady on Commission Row. Receipts are liberal and provisions trade for local packing houses stays steady amid a rising hog market.
San Antonio buyers paid firm prices for country goods with butter steady at 28 to 30 cents per pound creamery and 21 to 28 cents for country items. Poultry stayed strong with hens at 6 dollars per dozen and broilers up to 4 dollars. Chicago reports butter at 27 to 32 cents, eggs steady, potatoes lower, and live poultry higher with fowls and springs at about 20 cents.
Butter creamery 81 2 3c first 29c seconds 27 to 28c packing 24c Eggs firsts 28c Poultry hens 16 4c roosters 10c broilers 20 4c New potatoes steady Kaw Valley early Ohios 1.25 dollars.
Wholesale prices to trade across vegetables and fruits list extensive items with origin state names California Texas Colorado and Washington. Potatoes onions tomatoes celery cabbage peppers beets green beans squash lettuce and more priced per unit or weight with per crate per basket per dozen and per hundredweight. Canned goods meats and fish plus flour alfalfa seed seed potatoes nuts and other staples priced for trade.
At Union Stock Yards on September 19, stocker cattle demand improved while overall cattle market stayed steady. Receipts totaled 336 cattle 496 calves 150 hogs 163 horses. Yearlings brought 28 to 33 dollars 2 year-olds 41 to 45 dollars and 3-year-olds 45 to 49.50 dollars. Hog prices in foreign markets varied 60 cents lower to 10 cents higher with Fort Worth market dull and local prices near unchanged.
Fort Worth market data shows cattle receipts about 6100 with steers 6.50 to 7.50 and cows 4.00 to 4.50 while bulls fetch 4.0 to 4.75 and calves around 4.50 to 5.00. Sheep receipts 150 with lambs 9.00 to 9.50 yearlings 8.00 to 8.50 and goats 4.60 to 6.00.
Receipts show cattle at 900 head with native beef cattle trading from 86.60 to 11.20 per hundredweight and stockers at 4.60 to 7.65. Cows and heifers move from 3.50 to 9.36, calves 8.25 to 12.75. Sheep receipts reach 27 000 with wethers at 6.75 to 8.40 and lambs from 6.75 to 10.8 per hundredweight.
Receipts and price quotations from St Louis market show hogs at 10 500 head with declines to 5 10c. cattle receipts 10 000 with steady values for natives and calves. sheep receipts 1 800 with lambs 7.00 10.75 and ewes and yearlings priced per line.
Kansas City Missouri September 19 livestock market update shows hogs receipts 15 000 with bulk price 10.75 to 11.15 and heavy 10.60 to 11.05. Cattle receipts 21 000 with steady to 10 cents lower prices for rime fed steers 10.00 to 11.00 and cows 4.75 to 7.25. Sheep receipts 12 000 with lambs 9.50 to 10.50 and yearlings 7.50 to 8.25.
Oklahoma City reports receipts of 1500 cattle and 4500 hogs with steady to slightly lower cattle prices and varied sales at local farms including Simma LisSeay Paoli Florence Purcell and Avhereen. New Orleans notes strong demand across rice grades with rough Honduras Japan and blue rose quotes and byproduct prices.
Turpentine firm shows 43 sales 65 receipts 242 shipments 110 stock 12 847. Resin firm posts 549 sales 743 receipts 618 shipments 84 207 stock. Market quotes list various grades with bids ranging from 5 75 to 6 60 and higher for selected items.
New York raw sugar prices show firming directions with centrifugal at 5.52 and molasses at 4.62 while refined remains steady at 6.40. Futures opened active and advanced, with noon levels 5 to 12 points higher on Cuban interests and commission house demand.
Cotton growers can raise fiber value by careful picking assembling hauling ginning and bale handling. With tight supplies and steady demand, higher grades yield greater returns. Practice include wait for full maturity avoid trash, dry ginning, slow even linting, and proper seed storage to maximize profits.
In New York on September 19 cotton goods stayed firm and quiet while yarns and silk showed steadier demand. Dress goods remained steady and jobbers conducted the full trade as reports noted interference with export shipments of dry goods.
Farmers and business leaders from Kansas Oklahoma and Colorado gather at the Hutchinson Commercial Club as the farm loan board chaired by Secretary McAdoo considers Hutchinson as one of twelve bank sites. A. C. Malloy from Hutchinson presents local facts and farmers tout Hutchinson’s convenience to the location.
Texas life insurance companies collected gross premiums of 6 982 898 in the past year. Total income reached 110 468 242 with losses of 1 127 722. By December 31 1915 policies in force stood at 221 146 667. Outside Texas firms wrote 4 970 827 in premiums and paid 1 470 633 in losses with 187 984 416 in force at year end 1916.
Up to Saturday 6800 bales of this year's cotton have been shipped from Halletsville Texas, well above the same date last year. The 1914 crop progress shows a higher percentage gathered and shipped, with last year totaling about 10000 bales and this year estimated around 9000 bales on liberal estimates.
Stamp collectors at the American Philatelic Society convention noted wartime issues from Europe. Red Cross stamps fund relief for soldiers. Holland uses Queen Wilhelmina portraits for entertainment gifts. surcharged German, Polish, and Belgian issues show sections of origin. Canada Britain and Italy also issue Red Cross and special stamps to aid expeditionary forces.
New York and Chicago market news describe early trading with gains outpacing declines. Rail stocks such as Reading Union Pacific Baltimore & Ohio Chesapeake & Ohio and Erie rise while munitions equipment petroleum and copper advance. Wheat and corn prices mixed as bears receded after a Dutch government wheat purchase and later liberal sales to Britain lift sentiment.
Quotations listed for wheat corn and oats in St Louis and Kansas City markets. No. 2 red and hard wheats range around 1.55 to 1.62 dollars in St Louis and No. 2 hard wheat around 1.48 to 1.56 dollars in Kansas City. Corn and oats prices shown as No. 2 and No. 2 white varieties with fractions indicating bid and offer levels.
Kansas City grain markets finish with Wheat at Sept 1.46 and Dec 1.46, Corn at Sept 83c and Dec 2ter.
Local packing house quotations list prices for dealers including dry salt extras from 16 to 18 cents and bacon extras 18 cents. Dry salt bellies 14-16 pound average at 18 cents with fancy breakfast bacon and hams at 22 cents. Bacon bellies 14-16 pound average and pure lard compound at 12 cents.
Car shortage in Pittsburg and nearby territory is described as the worst ever by shippers and railroad men. Railroads, shipper associations, and the Interstate Commerce Commission have issued circulars urging all consignees to unload cars quickly to ease the bottleneck.
New business booked 109,810,890 feet, shipments 499,416,268 feet, orders on hand 487,819,206 feet as of close of business Friday, per the Southern Pine Association.
New York Sept 19 Directors of the American Agricupures Chemical Company announce a quarterly dividend of 1 percent on common stock. This increases the annual return on that issue to five percent.
In New York on September 11, coffee futures showed little change with Sept at 9.05 and March at 4.92, indicating a stable trading mood for the commodity.
In World Outlook Willard Price notes Pyongyang’s transformation from a waterborne city blamed on devils to a modern urban center. Hygiene, Christian missions, and Japanese-era water works cut disease, with new hospitals and a sewer network replacing old beliefs.
Lawrence Priddy reports to the National Convention of Life Underwriters on the year’s tax changes. The new revenue bill raises life insurance company taxes from 1 to 2 percent, likely increasing revenue by 200 000 to 400 000. He notes defeats of uniform 2 percent state taxes in Rhode Island and premium taxes in Louisiana for foreign and domestic firms.
Lead quoted at 7.00 to 7.20 as markets show mixed moves. Spelter steady with East St Louis delivery at 9.5 to 9.4. Copper firm electrolytic at 27.00 to 28.25. Iron steady. Tin firm spot at 38.75 to 39.75.
London market notes on lead 30 pounds sterling per unit and 68 for spelter 56 pounds sterling. Copper futures £112 and spot £116 2d, electrolytic £186, tin spot £171 futures £172.
Arrived Nils Progress tug Tormentor with barge Badger from Tampico. Sailed Norman Korsoer via Charleston Indian Liverpool via Pensacola.
The Cotton Region Bulletin reports for the Houston district 24 hours ending 8 p m showing generally fair weather with temperatures below normal. Allen Buell meteorologist Weather Bureau notes the belt remains fair.
A prune industry representative touring St. Louis warns price increases and shortages will hit consumers as a May frost devastated Idaho crops. Large markets from New York to St. Louis will feel the impact while prune shipments move in ripe form, often mistaken for plums. Kansas City is noted as a major prune consumer.
Wheat prices fell amid selling pressure and weak demand in Chicago. An Newport News grain export embargo added weight while frost damage reports supported selling. Corn and oats followed wheat lower as traders stayed cautious and hog prices lifted some provisions.
New York inoculates a snapshot of mercantile paper and sterling rates with 60 day bills at 4.71 and demand at 4.75. France exchange quotes show demand at 5.86 and cables at 5.65. Guilders trade at 40 and cables at 41. Silver at 68½ cents per ounce. Mexican dollars at 52½ cents. Government bonds hold steady while railroad bonds show irregular movement.
Bar silver at 32 11 164 per ounce and money at 4 percent. Discount rates show share bills 5 percent, three months 6 percent. The figures reflect current financial conditions in London.
New York reports time loans at 60 days 34 3 percent, 90 days 3 percent, six months 3 4 percent. Call money steady high 2 percent to 14 percent, closing bids around 2 to 24 percent.
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