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Newspaper

The Mobile News Item

Location

Mobile, Alabama, United States of America

Date

Jun 01, 1929

Page

8

Market Trends Show Mixed Week With Rate Fears

The market faced an uncertain week as gains faded after a sharp session and traders speculated on rate movements. Rail and utility issues led the upswing while heavy selling weighed on others. Atchison and Norfolk & Western posted gains to new highs, New Haven surged, and General Motors and包other autos fell. Total volume neared 1.4 million shares.

Wen O'Fallon Itres Weck Otc Atchison Eack Norfolk & Western New Haven New York Central Peake & Ohio American Water Works Tric Aero Greene Canaria Vlm Caroon Union Carbide

New York curb stocks ease with utilities mixed gains

The New York market opened with weekend profit taking in utilities though Mohawk Hudson Power hit a new high. Super issues dipped from prior peaks while bonds and shares held firm. Transcontinental Air Transport eyes Pacific routes as Maddux Line and Humble moved in early trading.

New York York Mohawk Hudson Power St.Rigis Maddux Air ‘Line California Transsentinent Air Transport Pacfic Maddux Clace Humble

Foreign exchange rates reported in New York on June first

New York morning rates show international currencies listed with bids and asks. British pound quoted around 4847 and 16 to 4847 and 8, France around 3.90 11-16, Italy about 5.22 7-8, Belgium 13.89, Germany 23.81 1-2, Holland 40.13 1-2, Norway 66 21 2, Sweden 26.72, Denmark 96.62, Switzerland 19.24, Spain 14.03, Poland 11.25, Czecho 2.06, Jugoslavia 1.75 1-2, Romania .591-2, Japan 58.65, Montreal.

New York Britain France Italy Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Meece Poland Czecho Jugo-Slavia Getria Rumania Arime Brazil Tokyo Texas de Ween Tennil Real Hos M Gen & Eia Reo Motor Co Juneau Reynolds Gillette Saf Raz Rio Grande Corp Owe Bak Pow Am Agri Lidden Co Oeewe Dtch NY eWay Am Bank Note Gobel Adolph Am Sugar St Louis Am Bosch Mag Goodyear T & R Dopf Schulte Ret Br Bov el Aye Enseenne Graham Paige Grant Co Shell Union Gt West Rere Simmons Covenew Hawali Sim i Do Enbaey Simms Petrol Hide & Lea Sinclair Conou Gulf St Ste Hershey Choc Saa Porto Rio Bug Oreveee Southern Ry Amer Metal Eveen Holland Furn Spalding Oveeewnee Sparks O, Pow & Ltnt Howe Spear & F Hudson Motor Hud & Man Spencer Kelloggee Hupp New Jersey Stromberg Enet Ee Superior Steel Harv Co Sweets Co Match Tenn Cop & Ch. A Andes Cop Nick Can Archer Dan Mid Int Paper Avenue Tex Pac C & Oil Armour del Do C Tex Pac Ld Tr Do . A Print Ink Third Ave Ry Eevee Ee Thompson Co Timken Tel & Tel Atl Coast Line Dept Stores Atl Gulf & Wil Jewel Atlantic Atlas Kancpé&Lsb Cal Atl Balt & Ohio Enne Union Pacific Bangor & Aroos Kelvinator Corp Cigar St Barnet Leather Kenn Copper Barnsdall Anem Kinney Co Oeene Peenes Ever Bayuk Cigar Kolster Radio Eh Coal Vt Ctf NatRy Pte Kraft PhCeese United Fruit Kresge Co Wee Enone United Kreuger & Toll Borden Co Kroger Grocee Ind Alle Boston & Maine Lambert Co Leathin Briggs Om Oh Lee Rub & Tire Rity & Imp Brit Emp Brockway Motor Lehigh Prt Cem ann —_— Tr Ee Wwe Lehigh Val Coal Steel Oe Nena Bkiyn ‘Ubien Lehn & F Do Eeerrerer,s Brown Ovnewe Lig Univ Pipe & Rad Bruns ‘Balke Brere Yee Me Ut P & Lt Bruns Tr & Liquid Vadsee Corp Bucyrus Erie Ry Oe Seth Loew's Vanad Corp Burns Bros B Loft Ine Sccbeeevet Vick Chem Wiles Bisc Victor Tk Pr Pf .A Wen Lorillard Co Do Ist Pf Oweee Ae Virg Caro Oa Louis G@a Ludlum Steel Waldorf Lyst Callah Zinc Ld Macy Co Can Pacific Ee Warren Bros Warren Foly & P Celotex Co Maracaibo Oil Webster Eisen Central Alloy St Marland Oiocene Wesson Cerro de Pasco Marlin Rockwell Certainteed Marmon Motor Ul Western Mol Wy Wad Laa Martin Parry Weat. Pacific Pt Ches & Ohio Mathieson Alkali Penn el Ches Corp Penn P Chi & Alton Pf Western Ungel Westingh Air Br MulIntyre Pore M Westingh E & M P& Pl Melville Shoe McKeesport Tin Weston el Inst Mengel Co Cadeced Eagle Oi Chi Nor West Ri White Motor Co Chi Pney T Pfn Miami Copper Aespres A Cluett “Saisie Mo Pacific Eenee Wright Aero Wrigley Jr Cole Aikman Mohawk Cot Mill Atontgom Wa Young Cole Fuel & Iron Yngsta Sh & T Colo & Southern Ags Motor Wheel Motor Products Colum G & Eln Mullins Columb Carbon Nat Acmes Dorts Ree Com Credit Wm Nat Bellas Hess Am Roll Mills Nat Biscuit Am Stores Ou Enn Com Invest Trust Auburn Auto Congress Cigar Balt & Chiorts Ches Corp Rts Cons Textile Tex & Mex C&o Rts Eh Aewenee Crown Cork Neil Aj Cat & St Ace NH & Hudies Boss Hays Body Houdaille Bahn T & T Rts Kimb Clarke Norfolk & West Morrell Oven Nor Amer Co Nat Air Trans O Ee Ee Nor Ger Lloyd Newport A Ee Ee Crosley Radio Northern Pacific Newton Steel Eee Oliver Farm Cuba Norwalk T & Rub Nunnally Co Phelphae United Corp Com Curtiss Aero Otisteel Ssue U S Steelets Cushman’s Sons Owens Bottle Warner Bros N BTM Cutler Hammer Pac Gas & el Westvaco Chier Ee Cayamel Fruit Pacific Light Woolworth New Davison Chem Sy Or Pacific of Stub Bendix Avia New Debenhams Secta Pac Tel & Tel Granite’ C Steel Deere & Co Pf Rth Allegheny Rts Detroit Edison Park & Tilford Devoe & Ray A Park Utah Mines Poor & Co Sai Se Dome Mines Hy Eg Oh Wm Em Devote Regarts Dru Inc Oe Hom Se Tin& Ent du Pont de Nem Penick & Ford Duque Bento Penn Durham Hos Mn Kodak Phila Rag Cé Petrl Elec Auto Eaton Ax & Spr Philip Morris Philli Jones E el Pow & Lt Phillipoe Pietrol Emerson Bis Pittsburg Auto Ld Pitts Pitts It

New York Bonds Rise Amid Easing Market Tension

June 1 New York trading showed Con and German issues leading gains in the bond market. Convertible stocks touched new highs as prices moved to new levels across utilities and industrials, with several issues advancing and some backsliding in late sessions.

New York Ees Ger- Central Pacific Dit Dee Oni Cement International H American Cement O & Light Invest- Northern P & Ohio

Government Bonds Separated and Rearsons

Government bonds split into sections with adjustments and errors noted. Officials outline reasons behind the changes and potential impacts on investors and markets.

Markets at a Glance New York Stocks Atchison and Norfolk & Western Hit Highs

Stocks show irregular trading with Atchison and Norfolk & Western reaching new highs. Bonds mixed with convertible and government issues improving. Mohawk & Hudson Power at new tops in the curb market. Foreign exchange mixed while marks firm on reparations talk. Weather and holidays affect coffee and sugar markets.

New York Atchison and Norfolk & Western Mohawk & Hudson Power New Tops

Profit Motive Under Scrutiny Amid Stock Market Deals

The text notes that some profits in stock trading are earned without honor, signaling concerns about ethical practices and integrity in financial markets. It implies ongoing debate over questionable gains and the need for accountability.

Cotton Prices Open Lower Then Rebound in Bearish Day

New Orleans June 1 The cotton market opened with an early decline and then partially recovered before steady liquidation pushed prices down. The close showed a net decline of 13 to 16 points as crop prospects remained bearish.

New Orleans

Wheat climbs on optimistic price and policy outlook

Chicago reports wheat rising amid hopes of bottom prices and expected farm relief legislation. Trade leaders foresee a farm board within two weeks and reduced production in the US and Canada from last year. Cash grain prices show No. 1 northern spring at 96 1/2 cents and various corn oats and seed values.

Chicago United States Canada

New Orleans Cotton Futures Close Steady Decline

Cotton futures in New Orleans closed very steady with a net decline of 1 to 16 points. Prices for January through December contracts drifted lower, with middling at 17 points down and total sales recorded at 37 bales.

Orleans New Orleans

New York Cotton Prices Slip in Late Trading

In New York on June 1 the cotton market saw renewed liquidation in the late session. July dipped to 18.06 and December to 18.40, closing barely steady with a net decline of 7 to 10 points. A private crop report showing 60.7% condition versus 72.8% last year and a 2.2% rise in acreage had little impact on the near-term market.

NEW York Cotton New York

Liverpool Spot Cotton Prices Fall in Quiet Trade

Spot cotton in Liverpool slipped as prices declined across grades. American cotton dominated activity with 4,000 bales sold including 3,500 from the United States. receipts matched at 4,000 all American. Futures closed quiet and steady with July at 9.76 and May near 9.80.

Liverpool

Chicago livestock market notes June 1 via U.S. S.C.A price reports

Hogs receipts 3 000 with 225 lb class at 5.10 lower. top around 10.90 for 215 lb weight. Cattle receipts 200. fed steers and yearlings up to 40 cents higher. cows and heifers down to 25 cents. Sheep receipts 4 000. fed lambs 1.00 lower. wooled and shorn lambs quoted with top weekly prices. late bulk shorn lambs 11.50 12.00 and springers around 16.00. California springers 12.50 13.25.

Chicago Livestock Chicago U.8 S.C.A California

East St. Louis Livestock Prices Report

East St. Louis June 1. Hogs 5,000 and cattle 500 with vealers, lambs and sheep traded. Hogs mostly steady with top 11.00 for 160 to 225 lb. cattle up to 40 cents higher in several categories. vealers steady with week’s top at 14.60 for 964 lb yearlings. Lambs and sheep mixed with spring lambs about 14.75 to 16.25 tops. sheeps steady overall.

East ST. Louis USDA

Chicago Poultry Prices and Receipts Report

Chicago market report from June 1 lists live poultry receipts at 3 cars with detailed prices for fowls 27 1 2 to 28 1 2, broilers 40, roosters 20, turkeys 22 30, ducks 20 25, spring ducks 28, and geese 15.

Chicago

Naval Stores Market Report Savannah June First

Turpentine firm reports sales 473, receipts 494, shipments 39, stock 14 921 while Rosin firm shows sales 15 885, receipts 179, shipments 65 190. Prices are listed for multiple grades from B to WG with ranges from 6.30 to 8.70 per ...

NAVAL Savannah Turpentine Rosin

Chicago Dairy Butter Prices Rise on Stable Receipts

Chicago June 1. Butter higher with receipts of 27,293 tubs. Creamery extras on 42 1 2, standards 42 1 2, extra firsts 41 2, firsts 40 1 2. Changes in receipts show 36,301 unchanged.

Chicago Dairy Chicago

Chicago Potatoes Market Report June 1

Chicago market notes show 73 carload receipts on tracks and 215 new stock, total U S shipments 675 cars. Bliss Triumphs priced 3.50 to 3.75 in Alabama and 3.00 to 3.25 in Texas with 2.00 or higher for poor stock, Irish Cobblers in South Carolina 5.50 to 6.75, round whites in Wisconsin Minnesota 60 to 70 cents, russets Idaho 1.53 to 1.65.

Chicago United States Alabama Bliss Texas South Carolina Wisconsin Minnesota Tsosc Idaho

Grain And Provisions Market Report From Chicago

Wheat prices are seen as below cost of production in major exporting countries with global oversupply. Corn, oats and other provisions fall to new lows while US wheat supply nears 95 million bushels and new crop yields are expected to rise. Hog weights suggest increased corn feed. oats crop prospects look favorable.

Chicago United States Texas Oklahoma

Weekly Financial Review Signals Market Turmoil and Credit Easing

The New York weekly market summary reports a drastic stock decline tied to a wheat price drop reaching 15 year lows. Credit conditions ease as securities price declines free up liquidity, while bond prices hit new lows and call money remains at six percent.

Weekly Financial Review New York Wall Street Associated Press General Motors Hudson Chrysler Montgomery- Ward Anaconda Copper International Combustion Johns-Manville Marland Oil Wright Aeronautical Pubiic

May rainfall breaks Mobile record with heavy downpour

A major storm drenched Mobile with record May rain, dumping over two inches by 8 p.m. and more than two inches by 8 o'clock. Lightning damaged boats at Arlington docks and a transformer sparked a fire at St Louis and Royal. City streets flooded, sewers relieved flooding, and police logged over 50 calls.

Mobile Arlington St. Louis Royal Alabama Power Company

Health first in farming relief plan gains support

Washington reports public health officials from the United States and Canada back a Capper Bankhead bill for federal state rural health extension. Speakers argue farmer welfare hinges on physical health and sane voting, urging action over delays. Dr. James A. Hayne of South Carolina emphasizes improving health to enable sound decisions and leadership.

Washington United States Canada Capper Kansas Representative Bankhead Alabama Congress James A. Hayne South Carolina

Algonquin Docked Burning After Bay Fire

The Mallory liner Algonquin rested at a Galveston pier with bow sunk and bulging sides after a fire in her hold was discovered Thursday night. Passengers including eight foreign girls from the Galveston beauty contest joined the deck in night clothes. About four hundred tons of general cargo were likely ruined beyond salvage.

Galveston Texas

Trio Escapes Louisville Jail by Sawing Bars

Three prisoners escaped from Jefferson county jail in downtown Louisville early today after sawing bars from two cell doors and cutting a steel ventilator. They lowered themselves to the jail yard on bedsheet ropes and scaled a thirty foot nail with a painter's scaffold for aid.

Louisville Jefferson County

Kar sher Promoted To Assistant General Freight Agent

W E Karsher Jr of Mobile, longtime associate of the Alabama Tennessee and Northern railroad, has been promoted to assistant general freight agent. He will assist E C Ash, the general freight agent, in freight operations.

W. E. Karsher, Jr Alabama, Tennessee & Northern Railroad Mobile E. C. Ash

Market Summary Faces Mixed Steel and Oil Activity

Steel shares show sluggish gains amid strong output and demand. Vanadium and Superior hit new lows while Sloss-Sheffield halved on dividend omission. Oil shares stall despite price rises. crude output up last week. Industry leaders anticipate Hoover conference in Colorado Springs mid June. Mail order and farm equipment decline on wheat price drop. Case Threshing and Montgomery Ward slide. Advance Runnery issues tumble. Week brokers loans report indicates shifts.

Vanadium Superior Sloss-Sheffield Ind Hoover Colorado Springs Montgomery- Ward

Army Delves Into Fatal Duel at Fort Snelling

In St Paul June 1 army authorities investigated a fatal duel involving William Hirst who shot Lieut Walter R Miller in a home confrontation. Miller remains seriously wounded with a shattered left leg, possible amputation. Hirst faces assault with intent to kill charges as a board reviews the case. Miss Nan Ferguson testified to threats and was questioned then released.

ST. Paul Minn Fort Snelling William H. Hirst Walter R. Miller Army Ceste Ee Miller Ferguson Nan Feles Hirst Miller Col W. G. Sweeney Miss Ferguson

Rockefeller Gives Washington Portrait to Virginia Custody

John D. Rockefeller Jr. has placed the portrait of George Washington by Charles Willson Peale in Virginia’s custody. The Carter family estate lent the painting to Virginia House for display, and it is likely to remain in state hands with Governor Harry F. Byrd deciding its future location.

Richmond John D. Rockefeller, Jr Charles Willson Peale George Washington State of Harry F. Byrd Virginia

Atlantic City Debuts Diamond Jubilee Convention Hall

A quarter million people join in Atlantic City's threefold golden jubilee celebration. Vice President Curtis dedicates the new convention hall as part of the city's 1854 founding anniversary. The National Electric Light Association opens its first convention in the world’s largest auditorium, led by Preston S. Arkwright of Atlanta.

Atlantic City N. J Curtis National Electric Light Association Preston S. Arkwright Atlanta

Mrs Hoover Visits Providence en Route from Cambridge

Mrs Herbert Hoover wife of President Hoover spent the night with Mrs William Hoff of Barrington Rhode Island a national Girl Scouts leader. Mrs Hoffmans daughter in law said the Hoover party left Barrington by car for an unannounced destination after departing Radcliffe College where she was a guest of honor.

Providence R. L Herbert Hoover President Hoover William H. Hoff Barrington Girl Scouts of America

Harbord Elected President of Second Division Veterans

Boston June 1 Veterans of the Second Division elected General James G Harbord as president at their 11th annual reunion despite his wish to decline. General Wendell Neville was chosen vice president George W Gordon was re elected treasurer and Captain C O Mattfeldt re elected secretary. Los Angeles will host the 1930 reunion.

Boston James G. Harbord Harbord Wendell Neville United Aine Corps George W. Gordon Chicago C. O. Mattfeldt Washington Los Angeles

Mitchell Victor London Opens Selsdon Park with 36 hole win

Mitchell Victor London wins the opening 36 hole medal at the new Selsdon Park course with a total 145. Ed Dudley shoots a 66 in the second round but totals 146 for second place while Johnny Farrell finishes third with 147.

Abe Selsdon Park Course London Ame Mitchell Selsdon Park Ed Dudley Johnny Farrell

Also Mentioned on This Page

Mbtar R Pearian Reine Une Ng Toct NEW Farm Relief Algonquin Trio Karsher John D., Jr Mrs. Hoover Girl Scouts General Harbord Veterans Second Division Mitchell Victor Negro
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