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Newspaper
Thomasville Times Enterprise
Location
Thomasville, Georgia, United States of America
Date
Jun 30, 1932
Page
8
New Orleans cotton shows activity with July up to 5.50 and December to 5.77 as rain and the Bank of Madrid rate cut spur demand. New York cotton extends firmness with July 6.36 and Oct 5.79-80 as showers and weevil talk support prices. Eggs and butter hold firm in New York receipts. Chicago hogs and cattle wages rise with steady to firm demand.
New York closes the first half with mixed results as major issues slip after an early uptick sparked by a Bank of England rate cut and a lukewarm repeal plank. DuPont and Nabisco lead losses, with American Tobacco and Crown Cork among others down. gains fade by afternoon. ST. Louis cash grain prices noted with No 2 yellow corn at 31 to 31.5 cents and wheat at 46 to 47 cents for July contracts.
The platform committee voted 35 to 17 to substitute a repeal plank for Roosevelt’s proposal to let states decide repeal actions. Senator Walsh led the repeal effort while Smith drew the loudest cheers from the 4000 supporters, as Hull and Fitts opposed the submission plank.
About 150 men white and black lined up outside Fulton county courthouse in Atlanta for a relief demonstration. Police stood by. no speeches or disorder. The gathering followed a circular from the unemployment committee of Atlanta and came after county officials said there were no funds for relief and before a proposed one mill tax increase for charity failed.
Delegates faced protests as they debated prohibition repeal with Southern opposition and Northern support. Illinois Iowa Michigan and North Dakota backed repeal while Florida Kentucky Louisiana South Carolina Tennessee and Texas largely opposed. After a long day the convention advanced proposals on federal reserve deposits and a soldier bonus, with final platform decisions pending.
Mississippi's 20 votes will be cast under the unit rule for Franklin D. Roosevelt on the first ballot. The delegation voted 10 to 9 on the first ballot and then will poll to decide second ballot support. James A. Farley estimated Roosevelt would receive 705 votes on the first ballot, up 15 from yesterday. Indiana was projected to deliver 22 votes and Virginia appeared wavering. Farley said a running mate selection would wait until after nomination.
Moultrie Ga June 30 hog market quotes show No 1 hogs at 4.00 No 2 at 3.85 No 3 and No 4 at 3.50 and sows at 3.50.
New York call money is steady at 2 1/4 percent for the day with time loans at 2 1/4 percent for 60 to 90 days and 60 to 9 days post. Prime commercial paper quoted at 1 1/16 to 1 1/8 percent. Bankers acceptances unchanged. New Orleans cotton seed oil closes firm with prices for prime summer yellow at 3.20 to 3.40, prime crude 2.871 to 3.00, July 3.50, August 3.52, September 3.53, October 3.55, November 3.80, December 3.65, January 3.67.
In New York on June 30 cotton seed oil closed firm with values for prime summer yellow and prime crude between 2.871 and 3.00. July to December futures listed from 3.75 to 4.08 with 29 contracts sold.
Savannah market notes show a June report with a 35 percent turpentine firm, 63 sales, 303 receipts, 490 shipments, and 8971 stock. Rosin shows 1619 sales, 1530 receipts, 555 shipments, stock 174214 with prices for several grades and variations.
Butter and eggs prices in Chicago show firm creamery specials at 93 score, extras 92, firsts 88-91, seconds 86-87, standards 90. Bees firm receipts list 114 storage packed firsts 13 percent and extras 13 34, with fresh graded firsts 12 44 and current receipts 114.
Delegates disbanded after adopting by a large majority a call to remove the eighteenth amendment. The noon session featured William McAdoo and Gov. Murray proposals, then moved to nominating speeches. Roosevelt campaign manager Warley praised the platform and endorsed the prohibition plank. Alfred E. Smith denied withdrawing and said he would be nominated.
The Democratic convention voted against immediate cash bonus payments and rejected a bi metallism plank. The platform, noted for its brevity, calls for drastic economic changes including a billion dollar federal cut and a strong prohibition repeal stance while opposing the war debt cancellation and endorsing reform measures for labor, farm relief, and government spending.
The speaker Governor Joseph B. Ely of Massachusetts nominated Alfred E. Smith for president praising his bold, virile leadership and his record in public office. Ely argued Smith could guide economic recovery and warned against religious prejudice in politics while urging unity in the Democratic Party.
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