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Newspaper
Thomasville Times Enterprise
Location
Thomasville, Georgia, United States of America
Date
Jun 22, 1931
Page
6
A brief market summary shows stocks buoyant and bonds firm with foreign exchange firm. Commodities advance with cotton sugar and coffee higher while Chicago wheat remains firm and hog prices rise amid overall market strength.
New Orleans June 22 Cotton futures rose sharply on news of a proposed one year moratorium on international debts. July opened 46 points higher, later reaching 9.42, October 9.80 and December 10.03, with intraday gains eroded by profit taking before a late rally. Close showed steady advances of 66 to 68 points with October near 9.92 and other contracts up amid buying strength.
New York traders cited firmer cotton prices following favorable talk on Washington debt moratorium proposals and gains from late selling. July and December contracts advanced, with mid afternoon quotes showing 57 to 59 point gains as covering and trade buying supported the market.
New Orleans spot cotton closed steady 66 points higher on June 22. Sales totaled 644 bales while middling quotes stood around 6.58 to 9.58 with good orders in effect. Receipts reached 372 and stocks 648,3870.
Wall Street rose on Hoover's war debt moratorium proposal with gains led by U S Steel American Telephone and International Harvester as traders weighed the impact on government finances amid a volatile session. Commodities and bonds followed equities higher as investors eyed the possible one year pause on debt payments and its effect on foreign holdings.
The weather bureau predicts continued hot weather with no rain in sight and a high of 87 degrees for today in Atlanta. Yesterday temperatures reached 95.6 degrees while Fulton Superior Court room conditions prompted judges to order lights off and jurors to sit without coats.
Raw sugar held steady with refiners showing interest at 3.35 for spot but asking 3.38 to 3.40. No sales reported. Refined sugar unchanged at 4.55 for fine granulated.
New Orleans reports firm prices for cotton seed oil with a range across grades. Prime summer yellow trades at 6.85 to 7.10, prime crude 6.25 to 6.50, with June 6.75, July 6.75, and other futures listed through December.
Savannah reports for June 22 show Turpentine firm 4824 51 with 435 sales, 687 receipts, stock 35174 and no shipments. Rosin firm 861 sales, 2250 receipts, stock 213929 with mixed price quotes from B to XN and containers MO WG WW.
New York on June 22 reports butter at 7 816 firm er creamery higher than extra 24 2414 extra 2 score 2814 2314 first 88 91 score 21 238 packing stock current make No 11 16 No 2 1444 15. Cheese totals 142 436 firm state whole milk flats fresh fancy to fancy special 18 15 do held 21 23.
Potatoes steady on good stock with prices for Louisiana Texas Mississippi and Arkansas up to 1.50 for cobblers and fancy Texas up to 1.25 decayed 1.00 up. North Carolina barrel cobblers sold around 2.50 to 2.55 while ordinary ranged 2.25 to 2.35.
Memphis Tennessee June 22 cotton seed futures ended steady with June 21.50 and Jan 21.50 to Oct 21.00 while July through Dec hovered around 21.00 to 21.25. No sales were recorded. Cotton seed meal futures rose with bids from 22.00 to 22.05 and 22.00 across several months. Sales of 600 toys noted.
Chicago live stock reports show hogs 38 000 fairly active with gains 15 to 225 higher and 230-320 lb hogs 6.65 to 7.60. sows 5.35-6.00. cattle 21 000 butcher stock weak to 25 lower with steers 7.75-9.00 for 600-900 lb and cows 4.00-6.00, stockers 6.00-6.50 for 500-1050 lb.
Atlanta news reports state Fish and Game Commissioner Peter S. Twitty prepared a bill for a state wide closed fishing season. The measure, to be introduced in the next legislature, would regulate fishing by season and require licenses, prohibit seines, and set penalties for violations with specific protections for mountain trout in 18 North Georgia counties during April May and October 15 to December 31.
National League games feature Chicago at New York with Wilson Horsby and Terry homers, St Louis at Philadelphia Whitney homer, Pittsburgh at Brooklyn Wood Phillips Lopez, and Cincinnati Boston date pending. American League notes Boston Detroit Swaney homer, Washington Cleveland rain postponement, Philadelphia Chicago game with Shores Heving Frasier Grube.
The proposed act would ban sale of fresh water fish during the April May closed season extending into June. It requires licenses for sellers and fishermen, with varied fees by role and residency. License funds go to a Fish Propagation and Protection Fund and violators face penalties.
State highway engineers announce contracts totaling about 1 750 000 to be awarded July 16. Northern division lists Cherokee Stephens Franklin Wilkes DeKalb Carroll counties with numerous miles of concrete grading and bridges in cities Canton Toccoa Royston Villa Rica Madi gan Augusta and more. Central and Southern divisions cover Savannah Statesville Milledgeville Cuseta Thomaston Washington Cairo Richland Cairo Thomasville and other locations with concrete lime rock grading and bridges.
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