06 Feb 1940
Page 1
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Newspaper
Thomasville Times Enterprise
Location
Thomasville, Georgia, United States of America
Date
Feb 06, 1940
Page
1
Washington reports the Wage Hour Division will enforce wage hour rules on a weekly basis. An employer fails if a piece worker earns 12 dollars for 42 hours in one week and 4 dollars for 22 hours the next, needing 60 cents extra to meet the act. The rule applies regardless of weekly payment length.
Washington reports indicate President Roosevelt could back processing taxes if major farm groups unite behind the idea. Secretary Wallace backs an American Farm Bureau Federation endorsement of the income certificate ban, while parity payments and soil conservation funding face congressional cuts.
Washington figures warn that pink bollworm may force cotton farmers to abandon crops and move toward dairy and livestock. National Grange leaders, backed by Rep Rankin, urge more funds for bollworm control as appropriations rise from 800000 to over 1.25 million for the coming year.
The German news agency DNB reported between January 21 and 31 Allied and neutral shipping losses totaled at least 200000 tons. DNB said about 47000 tons were sunk by German air forces, with more ships damaged or likely unable to reach port. The German high command later put total losses at 145603 tons for the period, excluding Nazi aircraft victims.
An archival note discusses that a weekly system for determining pay may not bind courts. It cites potential rulings that hourly rates below 30 cents for certain tours could be unlawful, even if total weekly earnings reach amounts like 12.60 dollars.
New York stock market closes with moderate declines led by heavyweight names like U S Steel and Bethlehem. Transfers total about 450000 shares in a day of low volume and mixed small advances among select issues.
Markets at a glance show mixed currents with bonds steady despite gains in sterling. Chicago wheat and corn rise on crop and export signals while cattle and hogs edge lower. Wool tops uneven as steel output cuts press metals.
Combined hog receipts for today totaling 2 204 head at plants in Thomasville Columbus Moultrie Hinesville Demopolis Jacksonville and Lifton Georgia and Alabama and Florida, demand steady with prices near last week. Bulk good and choice hogs 180 to 240 pounds bring 35.00 upward with quotations from 4.00 to 6.10 per 100 pounds for various weights.
New York sugar futures closed modestly firmer in places on March delivery and later months. March price at 1.86 cents per pound and May at 1.13 cents, with duty free February position at 2.83 cents and Cubas at 2.83 on duty paid basis. Refined unchanged at 4.50 cents.
Chicago futures report shows cash wheat No 2 yellow hard at 1.00 per bushel while corn No 2 mixed ranges 37 14 to 62 12 with other grain values including oats mixed 37 to 42 and barley malting 55 to 64. Soybeans No 4 yellow 1.02 per bushel and field seeds per 100 pounds list timothy red clover alfalfa ranges.
Chicago livestock market notes salable hogs about 21 000–35 000 with slow activity above 250 pounds and bids off. cows calves and steers show mixed demand with steady to weak bids, notable finished steers at 11.00–12.06 per 100 pounds and lighter weights at 10.00–11.00, heifers and cows weaker, top hogs around 3.65 per 100 pounds.
Cotton futures in New York closed modestly higher after a colorless session. March old at 10.83, July 10.14, October 9.52, with old and new contracts showing limited activity and light hedge selling amid Bombay liquidation in March and May.
Memphis Tennessee February 5 prime cottonseed meal futures (41 percent) stayed firm. Closing prices for Memphis cover March 27.60, May 26.40, July 26.10, September 24.40, October 24.25. Sales totaled 1,700.
Chicago market data lists live poultry and fowl prices by weight and class. Included are hens leghorn white and colored, broilers under 4 and 5 pounds, wooden crates of Plymouth Rock and White Rock varieties, ducks geese and turkeys with price ranges across weight categories.
Chicago market summary shows butter at 664205 weakness with creamery scores around 93 and 30 percent, 29 percent and 91 2914 and 90 2994 figures. Eggs valued at 6516 with firm fresh graded extra firsts and local ears and firsts figures 9314 2314 224. Current receipts noted at 22 percent and prices carry a 8? tag.
Washington February 5 Representative Starnes of Alabama asserted that the Dies committee never accused any member of Congress of plotting against its continuance. He testified amid questions about David Mayne linked to forged letters in the Congressional Record.
New York financial note showsTreasury offerings with prices for several bonds including June Tulou 4s 04-d4 and fed farm mortgage issues. Bond listings list 108.11 for Fed Farm Mt 84? and 74s 19-44 108.11.
Savannah data show 5 turpentine firms with 5494 offerings and 1072 shipments. rosin firms report 14 offerings 5 sales 15 receipts 9919 shipments and 19590 stock. Prices noted for various grades range from 4.50 to 6.20 per unit with several lettered codes.
Moultrie Georgia on February 5 reports a steady soft hog market. Heavies over 240 pounds bring 60 to 4.74. No. 1 180-240 pounds 4.74. No. 2 180-180 pounds 3.25. No. 3 130-150 pounds 1.00 under. No. 4 110-130 pounds 1.00 under. No. 5 80-110 pounds 1.00 under. Fat sows price 1.00 under. smooth hogs and stags adjust to weight class 8.40 to 3.60.
The New Orleans market reports steady cottonseed oil with bleachable prime summer yellow at .8M, prime crude at 6.50H for May, G.ISE July at 6.02, and September at 6.67.
Former South Carolina governor and Democratic committeeman Olin D Johnston said in an interview that at least 80 percent of the people in South Carolina favor a third term for President Roosevelt.
Foreign and domestic buying and pre holiday cover pushed New Orleans cotton futures higher with steady closes. Prices showed gains from 8 to 9 points, with May and Dec contracts quoted around 10.50 to 10.94 and late bids around 8.58.
Los Angeles February 5 exiled Church of England clergyman Rupert A Jardine plans to become an American citizen after aiding the Duke of Windsor and Wallis Simpson in a past controversy. He says he will apply as soon as his birth certificate is secured.
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