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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Sep 24, 1916
Page
13
Review of weekly financial and commercial markets with weather hints. Includes temperature highs and lows, monthly excess, precipitation totals, and normal comparisons for the period. Mentions wind and rainfall readings, with figures for daily and monthly deficits.
Trade observers report general firmness in cotton markets over the week with prices holding steady across key spots. Buyers and sellers note steady demand and little price volatility as trading closes.
The Sept 23 cotton market shows firm trading with January at 16.40 highs, then retreating on bear sentiment. Bearish bureau crop forecasts and easy technicals pull prices. spot demand and southern ginning influence late moves. New York to Liverpool closing steady with slight gains. San Antonio spot prices listed for various grades.
The cotton market opened easy with declines of 8 to 16 points as selling resumed. December slipped to 15.90c and January to 15.96c, while late morning trading saw a rally to around 16.1c in January and active months firming despite a soft close.
Damaged sweet potatoes sold in San Antonio tested positive for the sweet potato borer. Entomologist N D Zuber warns growers to inspect slips, plant only pest free material, plant deeply, control nearby solanaceous weeds, fumigate stored tubers, and practice clean cultivation including hogs not allowed in the field to reduce infestation.
Heavy selling pushed cotton down 14 to 15 points at the opening in New Orleans. Fresh buying emerged as trading continued, with prices at the end of the first half hour 1 point down to 1 point up from yesterday's close.
New Orleans reports cot ton futures opening steady with October at 15.36 and later months around 15.68 to 16.16 while St Louis notes receipts and quotations for hogs cattle and sheep. Hogs show 10 to 16 cent higher receipts. cattle and sheep markets steady with varied price ranges for native beef steers cows and yearlings.
Bradstreet says general trade and business conditions are booming with rising buying power. Jobbers wholesalers retailers and manufacturers report strong activity despite high prices. Steel and labor bottlenecks persist while weekly bank clearings show substantial volume at 5 552 117 000.
Temperature and weather report for the Houston district covering 24 hours ending 8 a.m. 75th meridian time. Observations listed from 7 p.m. Saturday September 23, 1916, with details on temperature and rainfall.
July 1916 shipments of crude oil and related products to the United States totaled 1 578 827 barrels in the Tampico and Tuxpam district, with 1 098 339 barrels from Tampico and 485 488 from Tuxpam. Overall gross shipments reached 2 648 178 barrels as war tax and political disruption limited output early in the period.
The largest single consumer of cotton in America is the film manufacturer supplying over 90 percent of moving picture film. About 9 percent of film is cotton based and one firm produced and sold more than 90 million feet monthly. The industry uses 150000 bales monthly or 1.9 million annually.
C D Chamberlain of Cleveland, among 160 delegates at the National Petroleum Association meeting in Chicago, warned gasoline users of rising crude costs as wartime demand expands. W T James of Kansas City echoed the forecast while noting 1915 output at 225 million dollars. William Muir of Titusville was elected president with E S Anderson of Pittsburg as treasurer and Chamberlain as secretary. United States Senator Hollis of New Hampshire spoke at the banquet.
The following is the statement of cotton comparisons to actual issued by Secretary Henry Heater of the New Orleans Cotton Exchange. The document outlines the exchange’s view on how reported cotton figures align with actual market conditions and seeks clarity for traders and market participants.
New York September 23. Daily dealings ranged from 1,000,000 to 1,500,000 shares with United States Steel setting weekly highs and new records. Copper stocks including Anaconda Utah and Inspiration rose to new highs. Central Leather and Stutz Motors followed similar gains. Rails advanced amid strong activity. Union Pacific hit 148½, a wartime peak. Closing was strong with bonds firm, as a table showed last bids versus a week ago.
New York money markets show mercantile bills at 4.71 percent despite demand and supply moves. Cables quotes advance to 4.767-16 percent with Afb demand at 40 percent and cables at 40. Bar silver at 67 1/2 cents. Mexican dollars remain quoted. Government bonds and railroad bonds hold steady and firm.
London money market notes show discount rates at 4% and 5% with variations for short and three month bills. Bar silver quoted at 4 3244 money, with 4% and 5% levels reflected in the buying and selling.
Elgin markets report a 33 cent butter bid with no salee documented as oil prices hold.
Southern manufacturers seek foreign markets for cotton goods in the Dutch East Indies, the world’s third largest market with $40 million in annual imports. The Bureau of Foreign and Domestic Commerce notes American exports are negligible and urges exclusive agencies, strong sales networks, and careful agent selection to win share against Holland and England.
Chicago packing house quotations to deal ers show dry salt extras at 16 1/2 cents per pound bacon extras 18 cents salt bellies 14 to 16 pound range 18 cents fancy breakfast bacon 16 cents fancy hams salted bellies wax: pound average pure lard issued 1 1/2 cents per pound
Wheat prices rise with No. 2 red at $1.61 to $1.68 and No. 2 hard at $1.59. Corn advances with No. 2 at 85–85 1/2 cents and No. 2 white at 87 cents. Oats hold steady at 46 cents for No. 2, rye climbs to $1.20 for No. 2.
Chicago market report lists No. 2 red wheat at 1.55 per bushel. No. 2 yellow corn quoted at 82 to 83 cents, No. 4 white 82 cents, oats 45 to 48 cents. Rye bids No. 2 nominal and No. 4 yellow not specified.
Wheat prices rose as Argentine weather reports signaled rain shortages and heavy export demand. Traders eyed Roumania and Dardanelles issues but Argentine shipments and lower crop prospects supported futures with December and May contracts posting gains amid frost damage in Northern Iowa. Corn and oats followed the cereal rally while hog price strength provided mixed support.
A Kansas City market brief shows grain prices for corn and rye with bids for mixed and white corn. The report lists No 2 red and No 2 white corn at various values, along with No 3 white, No 2 mixed and rye quotations.
Kansas City grain totals show Wheat at Sept 1.52 and Dec 1.51. Corn quotes list Sept 8 cents and Dec 72 1/2 cents.
Cattle receipts 100 head and market nominal with steers and stockers listed. Hogs receipts 650 head with prices up to 10 55 top and bulk near 19.35. Sheep receipts 1600 head on throng billing with lambs and yearlings priced and ewes and culls noted.
Buyers paid steady to firm quotes for country produce in San Antonio Saturday with butter and creamery items steady. Poultry prices remained firm with hens at 6.00 per dozen and friers around 6.50 to 7.00 each. turkeys 18 to 19 cents per pound. geese 6 to 8 dollars per dozen. Butter 28 306 cents per pound, country 2 22 cents, packing stock 20 21 cents per pound. A nene market note shows varied values for poultry and dairy items.
Galveston Texas dispatch lists arrivals including Seeihe at Nov from Las Palmas Nueces and New ark. Sailing vessels include Comal El Rio bound for New York Dade Tampico Nils from Norway Sabine Vera ston Britain Andrea Italian Genoa Liverpool and Genoa with several ports of call noted.
Kansas City markets report hog receipts 800 with hogs at 10.10 to 10.75 for heavy to packers and butchers. cattle receipts 100 with prime fed steers 9.75 to 10.85 and dressed beef steers 7.25 to 9.50. sheep receipts none with lambs 9.75 to 10.35 and wethers 7.00 to 7.75. Butter eggs and poultry steady with valley Ohio prices for butter at 1.15 per dozen.
Chicago market report shows receipts of 9000 cattle and 1000 sheep with mixed hogs at 10.35 to 11.30 per cwt and cattle near 6.50 to 9.25 for native beef, western steers, stockers, feeders, calves, and lambs priced around 6.70 to 8.18 per cwt. Pigs listed at 7.00 to 10. Cattle and sheep values are given with several grade ranges and day-to-day comparisons.
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