Newspaper Page Text
.- ' ■ ' " - — " — -- ILATE MARKET REPORT I _TBUCK MQygMKNT—8TOaLS—COTTON—«*AIN—LIT«8TOCK—POULTBT—■COt STOCKS UNEASY AT OPENING Irregular Start Reveals Both Small Gains And Losses NEW YORK, Aug. 13.—(JP)—The stock market developed irregularity at the opening today as a result of profit-taking inspired by yester day's brisk rally. U. S. Steel com mon opened with a block of 10,000 shares at 229 7-6, ap 1-4 and a new high record. Sears Roebuck ad vanced 2 1-4 points and New Haven 1. Westinghouse Electric dropped 2 3-8 on the first sale and New York Central, Frisco common and Atchison yielded a point or so. Selling increased as trading pro gressed and many early gains were cancelled. A number of issues sag ged 1 to 4 points below yesterday’s final quotations. U. S. Steel common set a new high at 230 and then slid off nearly 2 points before the end of the first half hour. General Electric dropped 3 1-2 points, American Can 2 and American Water Works, Interna tional Telephone, Standard Gas & Electric, Radio, Johns Manville. American Locomotive, Dupont and General Refractories yielded a point or more. Oils were in fairly brisk demand on unofficial mid-continent advic es that the proposed decrease in crude oil in that territory had been delayed for at least 30 days. Pan American B opened with a block of £>Of«l shares and Standard Oil of rX*' Jersey with a block of 8000 iffiarcs. both up fractionally. Hous ton oil ran up more than 2 points. Foreign exchanges opened steady with cables unchanged at $4.84 13-16. The market closed strong, with total sales approximating 4.100.000 shares. (FOREIGN EXCHANGE NEW YORK. Aug. 13.—(JP)—For eign exchanges irregular: Great Britain in dollars: others in cents: Oreat Britain, demand 4.84 5-16: cables 4.84 25-32; 60-day bills on banks 4.79 1-2. France, demand 3 90 3-4; Italy 8.22 1-2: Belgium 13.89: Germany 23.78 1-2; Tokyo 46.75; Montreal 98.25. NEW ORLEANS OPENING NEW ORLEANS. Aug. 13.—t/ipv— Ootton opened steady; Jan. 18.37-B; March 18.56: May 1879-B; Oct 18.03; Dec. 18.34. NEW YORK OPENING NEW YORK. Aug. 13.—Cot ton opened steady: Oct. 18.12; Dec 18.45; Jan. 18.49: March 18.71; May 18.86. GOVERNMENT BONDS NEW YORK. Aug. 13 —(^—Gov ernment bonds: Liberty 3 1-2, 32 47. $97.4 first 4 1-4 $98.16: fourth [4 1-4 $9819; treasury 4 1-4, 47-52. $106.24. CALL MONEY NEW YORK. Aug. 13—(P)—Call money easier; high 8; low 7; ruling rate 8; close 7. Time loans firm; 30 days 9; 60-90 d\mf' 9: 4-6 months 9. ^ /Prime commercial paper 6-61-4. Bankers acceptances unchanged. r Wheat Goes Up On I Export Prospects CHICAGO, Aug. 13.—OPv—Indica tions of good-sized export buying of United States wheat led to earlv upturns today in wheat here. There were also advices that in three Ar gentine provinces where rain was most needed, showers only were re L ceived. Opening 7-8c to 1 7-8c higher, Chicago wheat prices kept near to the initial range. Corn and oats sympathized with wheat, corn starting 1-4 to 1 1-4c up and later showing losses, but then advancing again. Provisions tended higher. Wheat closed easy, at 5-8c net de cline to l-8c gain, with corn 1 l-2c to 2 1 -8c down, oats 3-4c to 1 l-8c off, and provisions varying from 40c setback to a rise of 2c. FT. WORTH CASH GRAIN FORT WORTH. Aug. 13.-<P)-~ Good demand continued for wheat on the Fort Worth cash grain mar ket today but other grains were slow sale even for the small receipts. Jf Wheat was unchanged but white and yellow' com were lower. Expoit grains and milling wheat unchanged. Coarse grains: Dealers’ bids and offers as follows basis delivered Te$|f common points: (5^: No. 2 mixed unchanged; No. 2 white 1.10*6 1.12. five cents off; &o. 2 yellow 1.1491.15. Oats: Unchanged. Barley: Slow 2 cents off; No. 2. I 68 to 70. Sorghums: No. 2 milo per hun dred pounds 1.50® 1.63; No. 2 kaf fir 1.54® 1.57. Sorghum heads: Nominally un changed; no sales. CHICAGO CASH GRAIN CHICAGO. Aug. 13.—i/p>—Wheat: No. 4 red 12\; No. 4 northern spring 110. Com: No. 4 mixed 98 1-4; No 3 white 98 1-2. Oats: No. 2 white 42 3-4 to 43: No 4 white 40 1-2. BUTTER AND EGGS CHICAGO. Aug. 13.—(/p)—Butter firm; creamery extras 43 1-2; standards 42 1-2; extra firsts 41 to 42; firsts 39 '-2 to 40 1-2; seconds 37 to 38 1-2. Eggs firm: extra firsts 34 1-2 to 35; firsts 33 1-2 to 34; ordinary firsts 30 to 32 1-2. POULTRY CHICAGO. Aug. 13.—UP)—Poul- I trR easy; fowls 27; springs 27 to 28: btw ts 25; roosters 22; turkeys 20 toTfl: ducks 18 to 21; geese 15; spring geese 19. MARKETS AT A GLANCE ——i ■- — i mmmmm— i ■ i — ■ J (By the Associated Press, Aug. 13) New York: Stocks strong; U. S. Steel crosses 240. Bonds irregular; railroad mort gages steady. Curb irregular; Crocker Wheeler soars 74 points to new high. Foreign exchanges irregular; Ca nadian dollar at a discount of 3-4 of a cent. Cotton higher; unfavorable wea ther. Sugar easy; increased spot offer ings. Coffee higher; Brazilian supports Chicago: Wheat easy; favorable weather forecast. Corn lower; bearish Illinois re ports. Cattle irregular. Hogs steady. I _ _ _ __ _ i FORT WORTH. Aug. 13.—(>P>— Hogs: 800; steady; rail top $11.30 for good to choice 200-lb. butchers; truck top $10.85; better 180-240 lb. truck hogs 10.50ft 10.70; packing sows 8.25ft 8.50. Cattle: 2,400; calves: 700; butcher and beef grades she stock weak to lower; other classes steady; well finished light steers 13.75; plain grassers 8.00ft9.00; fat cows 7.50ft 8.00; plain butcher grades 6.25ft 8.75; bulls 5.50ft7.50; stock steer calves 11.50ft 12.50; slaughter calves heavies 11.00ft 11.50; other weighty averages 10.75 and less. Sheep: 2,000; steady; yearlings 10.75; feeder lambs 10.00; truck lambs 11.50ft 12.25. CHICAOO, Aug. 13.—(/P)—Hogs: 18,000; slow; top $12.25; packing sows 9.00@10.15; pigs 10.50@11.65. Cattle: 8,000;.calves: 2,000; most ly steady; grassy steers, yearlings and she stock weak; slaughter steers, good and choice 950-1500 lbs. 13.50'« 17.00; fed yearlings, good and choice 750-950 lbs. 13.25® 16.25; cows, good and choice 8.75® 12.25; vealers (milk fed) good and choice 14.50 ft 17.00. Sheep: 14,000; steady to 25c low er; lambs 13.00ft 13.90; ewes 4.75ft' 6.50, KANSAS CITY, Aug. 13.——! Hogs: 8.000; steady to 15c lower; j top $11.65 on choice 190-210 lbs.; packing sows $8.25® 9.50. Cattle: 7.500; calves, 1.200; steadyj to strong; slaughter steers, good; and choice 1300-1500 lbs. $13.25® 16.30: 1100-1300 lbs. $12.50® 16.50; | 950-1100 lbs. $12.50® 16.50: fed yearlings, good to choice 750-950 lbs. j $12.25® 16.15: cows, good and choice1 $8.25® 11.50; vealers (milk fed) me dium to choice $8.50 <i 14 50; stocker, and feeder stpers. good and choice1 (all weights) $10.75® 13.25. Sheep: 7.000; lambs steady to 25c low'er; sheep weak: lambs $12.25® 13.25; ewes $4.75ft6.50. NEW YORK COTTON NEW YORK, Aug. 13 — f/P)—Cot ton opened steady at an advance of 2 to 6 points on buying which ap peared to be based on an unfavor able view of the weather. Offerings were light, and the market worked up to 18.22 for Octo ber and 18.77 for March in early trading, or *bout 9 to 14 points above yesterday’s close. Some trade buying and covering were reported on the advance. The advance extended to 18.27 for October and 13.82 for March later or 15 to 20 points above yesterday’s close. Some further Wall street and local buying was reported but gen eral business continued quiet and the market was a few points off from the best at midday under real izing. Futures closed steady. 17® 25 points higher. Spot quiet; middling 18.30. N. Y. COTTON FUTURES CLOSE Prev. High Low Close Close Jan. 1870 1848 1868-69 1843 Mar .... 1891 1871 1889 1868 May.... 1905 1886 1901 1884 Oct. old 1838 1818 1836noml 1816 Oct. new 1835 1810 1831-33 1808 Dec .... 1865 1843 1860-62 1839 Opening: Jan. 1841: Mar. 1871: May 1886: Oct. old 181: Oct. new 11810; Dec. 1843. COTTON FUTURES CLOSE CHICAGO. Aug. 13.—</P—Cotton futures closed: Jan. 1870; Oct. 1830; Dec. 1857. • Solons Put Joker Over on Governor AUSTIN, Texas. Aug. 13.—UP— The legislature played a smart trick on Governor Moody—unconsciously, however. Just poor calculators. When F. B. Hardeman, statisti cian In the comptroller’s depart ment. checked the legislature's add ing the found five items in the ele emosynary bill totalled $233,000 more than the footings vouched for by the legislators. Governor Moody had accepted the legislature's total as correct when he adjusted his sights for re ducing the state's cost of govern ment. THRILLER LOSES LIFE DAMARI8COTTA. Maine, Aug 13.—Up—The attempt of Loring Burnham. 32. of Damariscotta Mills, to thrill a crowd of spectators costhlm his life. After making several dives from the top of an iron bridge here into the river. Burnham, although warade, started to strip off insula tion on ahigh tension line running the length of the span. He lost his balance and grabbed the almost bare wire. The force of the current held him imtll the high voltage, short circuiting through his body, melted one of the strands and he dropped into the river 30 feet be low. MAY EVACUATE RHINELAND THE HAGUE. Aug. 13.—<AV Complete evacuation of the Rhine land before Christmas was today practically decide dupon at a meet ing of the principal delegates of Germany. Great Britain. France j and Belgium to The Hague repara-, tions conference. I EARLY COTTON TRADE STEADY Market Opening Shows No Change As Compared With Close NEW ORLEANS, Aug. 13.—<*»>— The cotton market opened steady, first trades showing no change to three points up compared with yes and reports of too much rain in the East were influences behind the firmness. October sold up to 18.12, December 18.43 and January 18.41, or 9 to 12 points above yesterday s close. At the end of the first hour the market continued steady and prices were near the highs. Values continued to gain owing to unfavorable weather, expecta tions of a bullish consumption re port tomorrow and an unfavorable weekly weather and crop report. Under covering and trade buying October traded to 18 20, December 18.47 and January 18.48, or 14 to 17 points above yesterday's close. At mid-session the market was steady and at the top. N. O. COTTON FUTURES CLOSE NEW ORLEANS, Aug. 13.—(i^P)— Cotton futures closed very steady at net advance of 18 to 22 points; Prev. High Low Close Close Jan. .... 1857 1841 1856-57 183* Mar. 1873 1853 1873 1855 May .... 1832 1882 1886-B 1869 Oct. 1824 1803 1823-24 1803 Dec. 1852 1834 1851-52 1831 j Opening: Jan. 1837B: Mar. 1856; May 1870B; Oct. 1803; Dec. 1834. NEW ORLEANS SPOTS NEW ORLEANS. Aug. 13.—— Spot cotton closed steady. 21 points up. Sales 1326; low middling 1864; middling 1834; good middling 1889; receipts 294; stock, 40 882. N. O. COTTONSEED CLOSE NEW ORLEANS. Aug. 13.—— Cottonseed oil closed steady; prime' summer yellow 905; prime crude 7121-2*1725. Jan. 822; Feb. 822; Mar. 830; Aug. 810; 8ept. 810; Oct. B15; Nov. 815; Dec. 820. N. Y. COTTONSEED CLOSE NEW YORK. Aug. 13.—OP>—Cot tonseed oil closrd steady: prime summer yellow 922; prime crude 712 1-2^725. Jryv 920; Feb. 920; March J32; Aug. 910; Sent. 908; Oct. 909; Nov 910;; sales 1300. — TEXAS SPOTS DALLAS. Aug. 13.—,!P)—Spot cot ton 17.70; Houston 18.25; Oalveston 1830. LIVERPOOL SPOTS LIVERPOOL, Aug. 13.—A’)—Cot ton spot dull; higher: American strict good middling 10.97; good! middling 10.57; strict middling 10.37: middling 10.17; strict low middling 9.92; low middling 9.62. strict good ordinary 9 22; good ordi nary 8.82. Sales 2 000 bales. 1.700 American. Receipts 10.000; Ameri can 800. Futures closed steady: Oc tober 8.77; December 9.75; Januarv 9.77; March 9.85; May 9.91; July 9.92. i By WILLIAM R. HI HNS (Assciated Press Feature Writer) NEW YORK. Aug. 13.—<*»»—Be hind the recent flotation of the far in 1929, lies a story of human greatest industrial bond issue thus skill and the adventurous alliance which rescued the nitrate industry of Chile. The rescue came at a moment when the industry, which was worth more than $30,000,000 yearly to Chile in export taxes alone, was threaterted with serious injury or extinction by the development of synthetic nitrate. In more leisurely days a few years ago, two provinces in the arid northern part of Chile, Tarapaca and Antofagasta, produced 70 per cent of the world's nitrate. Science intervened with a low cost method of extracting the pre cious fertilizer from the air and the Chilean industry faced what look ed like slow death or the necessity of fighting science with science. The Lautaro Nitrate company, largest present producer in Chile, owns 27 plants. 10 of which are operating. All use the old Shanks process. The company, through its recent bond issue, obtained $32. 000,000 lor the purpose of erecting Valley Dry Cleaners Form New Association (Special to The Herald) MERCEDES. Aug. 13 —Valley dry cleaners at a meeting here Monday night organized into the Rio Grande Valley Dry Cleaners’ association, and elected officers and directors for the coming year as follows: Charles A. Allison. San Benito, president; Claude Smith, Harlingen, secretary’-treasurer. Members of the board of directors are: C. A. Burton, Brownsville; W. E. McMeehan, McAllen, and C. M. Sanders, Edinburg. Approximately 30 representatives from Valley cities attended, and it was decided in the future to hold monthly meetings. The next one will be held at Brownsville. C. H. Neblett is here from Hous ton on business. J. H. Ingold and Wm. Minnhoff er, both of San Antonio, arrived Tuesday morning, and are guests at El Jardin hotel. Edward Moore is here from Syra cuse, N. Y. W. Timberlake of San Antonio is in the city, and is a guest at El Jardin hotel. Eugene Branshaw of San Antonio is here. E. H. Groth arrived Monday from Houston. Mr. and Mrs. R. A. Curtis and Mr. and Mrs. Truby B. Wildman. all of Dallas, are visiting Browns ville, and are at El Jardin hotel F. B. Calhoun and S. J. Horning of the Southern Pacific Lines, are in Brownsville Mr. and Mrs. A. A. Yates are here from Dallas. M. C. Swain and Joe Swain of Corpus Christi, are here. Charles G. Long of Harrisburg. Pa., is a guest at the El Jardin. Lute P. Stover and son. Buck, were in town Tuesday from Las Comas. J. K. Adams and W. L. Clark, both of Dallas, came in Monday. Mr. and Mrs. J. O. Milledge ar rived Monday from Houston. Sidney W. Cornell of St. Louis Is in town. Wm. H. Brewer is here from Dal las. Harry Behr and E. R. Gibson of Houston arrived Monday. Frank Fritchctt of Martindale is a guest at the Travelers. Milton Fore is here from Hous ton. F. A. Fitch and D. J. Byers, both of San Antonio, are here on a hunt ing trip, and are guests at the Travelers. Mrs. Ham’ L. Oleson of Mercedes was here Monday. Mr. and Mrs. Howard Bouldin of Austin are visiting the city. Mr. and Mrs. Charles Nevard of Bartlesville. Okla., are registered at the Travelers. J. E. Weaver came in from Hous ton Tuesdav morning. J. E. Reifrhneider is here from Galveston on business. CULVER. Ind-. Aug. 13.~-^,PV-^ Ellsworth Vines of Pasadena. Calif one of the two heavy favorites in the national junior tennis singles tournament, was forced to three sets before he could dispose of Don ald Frame. New York, to enter the fourth round today. 6-2. 5-7. 6-1. i Keith Gledhill fo Santa Barbara, a number one seeded player, romp ed into the fourth round, defeating Henry Blabaugh of Philadelphia. 6-1, 6-0. “TIIE OTHER WOMAN” PAYS LONDON.—Mrs. Edith Ramsay Hill. named in the Countess of Er roll's successful divorce suit, must nnv the costs. * ■+ New Extraction Scheme Rescues Chilean Nitrate ® -_■ C - --1 The Shanks process for extrariing Chilean nitrate (boiling vats above) has been superseded by the Guggenheim process, which uses the type of “leaching” or dissolving vat shown below. a plant using the new Guggenheim process. Between the Shanks and Gug genheim processes are several scien tific and mechanical differences of striking simplicity but far reaching results. Capellan Smith, the in ventor. and officials of Guggenheim Brothers say they have demon strated that 100 per cent more ni trate can be obtained from a giv en quantity of ore at a cost of 40 per cent less than under the Shank', process. The latter uses vats of 70 to 100 tons capacity. The ore is crushed to the size of hens’ eggs, covered with water and boiled. This dis solves the nitrate and several other soluble salts, reducing the residur or “tailings” to a muddy mass. The hot liquor is run off and, in cool ing, crystallizes the nitrate ahead of the other salts. The Guggenheim process use* vats 100 times larger. The chang in temperature required to crystal lize the. nitrate is obtained by re frigeration. In other words, the range of temperature is from at mospheric down to about 18 de grees below zero Fahrenheit in stead of from boiling down to at- 1 mosphenc. 1 Colorful Races of the Air Will Attract 1,000 Planes Cleveland's airport, scene of the National Air Races. Upper left, Floyd J Logan, air race chairman; up per rig ht, Clifford Henderson managing director. CLEVELAND. O., Aug. 13.—Avi ators from every corner of the Uni ted States and Canada soon will be tuning up their motors preparatory to taking off for Cleveland to at tend the National Air Races, Aug. 27-Sept. 2. Approximately 1.000 planes are ex pected to take part in the colorful spectacle—ships of every type and shape will compete in the 38 major events outlined by the race com mittee, according to Floyd J. Logan, race chairman, and Clifford Hen derson. managing director. Colonel Charles A. Lindbergh, who never misses the races, has prom ised to be present, and Art Goebel, winner of the Dole Hawaii flight, has announceld his intention of comneting in one of the flights from the Pacific coast to Cleveland. Derby for Women Flyers Among the interesting events is the Santa Monlca-Cleveland derby for women fivers only. Prizes amounting to $8,000 and some lap urlze money has been raised for the flight. The racers will start from California on Aug. 18 and arrive in Cleveland Aug 26. Stops are to be made at San Bernardino, Calexico, Phoenix. Tucson. Douglas, El Paso. Pecos. Abilene. Fort Worth. Okla homa City, Tulsa. Wichita. Kansas rr=T-'.. ~== City. St. Louis. Terre Haute. Indi anapolis and Columbus. A 50-mile race for women has been scheduled and a special prise is offered to the woman breaking the solo endurance record. Twenty-six different events, af fording radical tests for speed, ef ficiency and performance of air planes are Included In the closed course series. A spectacular feature of the pro gram is the national parachute jumping contest. The nation's best will demonstrate the most approved methods of leaping Into space. Especial interest is attached to the two Pacific coast to Cleveland races, a Miami-Miami Beach to Cleveland, a Portland, Ore.-Cleve land derby, a race for Canadian pi lots from Montreal and a Philadel phia to Cleveland derby. Endurance Hop Scheduled Valuable prizes also go to the winner of the non-stop-non-refuel ing Bight, and to the pilots who I set a new endurance record by re fueling. Civilians have a special race, and several events have been planned for army andn avy planes. Visitors to the races also will have a chance to see the rapid strides made in aviation during the past rew years at tne aeronautical snow at the Public hall. There exhibitors will display motors, planes, acces sories. airport equipment, aeronau tical instruments for the edification of the “airminded.” RAYMONDYILLE SOCIETY Mrs. J. R. Wiikerson who has been confined to the Marlin Hos pital for the past four months was moved to the Kingsville hospital Wednesday in he hopes that the change may effect an Improvement in her condition. Mr. Wiikerson spent Wednesday with her in Kingsville. ? Mrs. Lacey Reasonover left Tues day with Miss Peggy Lusk who has been visiting her for the ’ast few weeks for Miss Lusk’s home in Mar lin where she will spend several weeks. Mr. and Mrs. J. A. Pennington and daughter Betty Jane leave Sun day for Brookheaven Miss., where they will visit his sister. Mrs. J. T. Lambert and Brother. F. A. Pen nington for about three weeks. On their way home they will come by way of Waco and Austin where they ! will visit relatives and Mrs. Pen- 1 * ningtons parents, Mr. and Mrs. A. F. Martin. Mr. and Mrs. W. A. Harding who have been on an extended trip thru the north, visiting in Detroit, Buf falo, and St. Louis, returned Mon day afternoon. Miss Ophelia Byers who has been visiting In Oklahoma for the past month etumed Saturday. Mr. and Mrs. Alden Coulter and children, John and Ruth who have been spending the summer with friends In Indiana, and Detroit re turned home Saturday even'4g. Mrs. W. V. Pittman who has been attending the summer school at Kingsville spent the week end In Raymondville. ^===i==™r~Tii DOCTOR CALLTD IN SNOOK CASE Rebuttal Witneaa For Stoif Tells of Examining Professor COURTROOM, Columbus. O., Aug. 13.—tA*)—Judge Henry L. Scar lett today overruled a defense mo tion for a directed verdict of acquit tal in the first degree murder trial of Dr. James H. Snook, charged with killing Theora Hlx. COURTHOUSE. Columbus, O, Aug .13 —OP)—Dr. J. M. Dunn, a Columbus physician, who made an examination of Dr. James H. Snook, testified at the start of to day's session in the trial of the former Ohio State professor for the killing of Theora Hix that he found a slight pigmentation that indicated a bruise on Dr. Snook’s body, but that in his opinion it could not have been more than two or three weeks old. Dr. Dunn was put on the island as a state rebuttal witness to con tradict testimony of Dr. Frank W. Harrah that he had found appar ent marks indicating such an at tack as the defense maintains was made on Dr. Snook by Miss Hlx immediately before the killing. Both physicians participated in the ex amination which was made last Friday. Dr. Dunn also described the bruise as being of such nature as to Indicate it could not have been made by Miss Hix in the manner described in Dr. Snook’s testimony. TAKE VACATION SAN BENITO. Aug. 13 —Mr. and Mrs. L. S. Boling will leave here on Wednesday on a vacation trip. They will go to New Mexico and other states and take their two children. w* Sammy Mandell and Tony Can zoned may fight again, this time in New York, where Tony is very popular. ‘Another Voluntary Testimonial on The Brownsville Herald’s I pulling power.«• • • • Another reason why more advertisers than ever are taking advantage of this un U usually productive advertis ing medium. J