Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-07-13

NEW YORK. July 10. tAPl-The stock
market turned uuict and accomplished
partial recovery after a substantial
break IN the first few minutes today.
IN response a week end Developments
IN Germany.
Early Losses Of 4 to S points in many
prominent shares were cut down dur
ing the morning. although the list be-
gan TO slide back a little toward mid
day. Transfers In the first half hour
market turned almost dull later.
u. S. steel reduced IN opening loss
OF 3 l-2 points 10 less than ?. then sag
ged a little. American Telephone cut
an early drop or 2 i-2 In half. Auburn
sold OFF 2 II points. then recovered
Cali money renewed az / Ia per cent
NEW ORLEANS COTTON
NEW ORLEANS. july 10 tAPl-Cotton
had a very weak opening today owing
TO a sharp decline IN Liverpool cables
and the serious financial situation in
Germany. First trades showed losses Of
"a points. The market continued 70
ease off after n start under pressure
OF long liquidation. October dropping %
Oil and December TO 9.32. or IS TO &c
points below Saturdays close.
Prices rallied three TO four points
near the end OF the first our but the
undertone continued weak.
The textile report for June was very
ercnuragtng showing that sales OF DOM
este cotton goods had increased 36-S
Yer cent over production. owing 20 the
Teak foreign situation. the textile Zig
ures failed 70 influence the market.
Following the sharp early decline.
cotton became teadier as the morning
advanced IN sympathy with steadief
stocks and owing 70 b belief by trad
ers that the German situation had be-
come so bad that something would be
promptly done n.y. vas Of remedy.
october traded UP TO 925 and Decem-
Der to 9.f6. a recovery OF IA points
from the carry lows.
At mid-session the market was quiet
but steady. retaining nearly oil the
recovery.
NEW YORK COTTON
NEW YORK. July ~. tAPl-Cotton
oncned barely steady TO-DAY. ~ 70 81
points lower. under more or less gem
EN- selling which was evidently IN
ffrlnced ~ the financial news from
cqFuaany and the weakness q Liver
rThere wa some trade buying and
covering. but the selling was active
and sent prices about - TO 81 points
above Saturdays closing quotations
with October selling OF 20 sos and
January To 9.A2. Offerings subsidized
enmewhat after the first ruAn or SELL
ire had been absorbed and the market
was less active at the end 81 b first
half hour. with prices showing rallies
OF . or 6 points from the lowest. Houses
with continental connections had cru-
ers on both sides Of the market but
were credfted with selling OF balance
Liverpool cables reported continental.
fnndon and Bombay liquidation and
sald business IN cotton cloth and yarn
was generally restricted. The stancarq
cloth statistics showing a decrease OF
as per cent IN stocks on hand az the
rrd uf last month with an increase "a
"a Der cent in untitled orders came IN
for very little comment a. the opening.
After the early selling had run ITS
course. the volume OF business tapercd
of a offerings were comparatively
light. They were absorbed Dy covering
and trade buying which was promoted
~ a steadier turn in the stock market
following It's opening decline. and prices
recovered part or the early losses. Ocfo-
Der contracts sold up from 9Oo " s1d
and January from 942 20 955. with the
midday market quiet at net declines
OF p 10 % points.
KANSAS CRY LIVESTOCK
KANSAS CITY. july IL. tAPl-tU- >
Dept. AFri)-Hogs $500: s5o direet. un-
even: steady 10 10 lower than Frlday's
average. top 7.20. l90-225 lbs. i40-l6O
Ire 6T5-7I0: I60-250 lbs. 6.85-T 20: ESQ
300 lbs. 6fO-6 B5. 29o-350 lbs. 5.70-6-55.
nackinr sows 275-S00 lbs. 4.z5-323. stock
MICS 70-l30 lbs. 62S-725-
cattle 1000: calves 1000. fed steers
ana ycarlings steady 10 strong. top $50
An around 900 ~. steers. most stock
cattle Of lighter weight. Stock calves
ss7. steers. 6o0-900 lbs. 7.00-7.T5: 500
fsO0-fSOO los. 625-7.75. 600 lbs UP 425-
= "a. helfers. 550-850 lbs. 6.50-525. cows
a 00-5.5O: vcalers milk fed medium q
choice 450-7.5O. stocker and feeder
steers. fall weiahtsl 500-725.
sheen 1000. lambs active. 15-33 high
or sorting light: odd lots sheep steady.
fon native lambs 7.6O. lambs. 30 lbs
down CTS: medium 30 lbs. down $50
rs. ewes. $50 lbs. down 100000.
CHICAGO GRAIN
CHICAGO. July 10. (APl-Influencer
~ Gcrmany's financial crisis and by
wnw York stock market weakness
Grain prices underwent share early
Eetbarks today. In a furry Of stop loss
.~riiirr. all deliveries Of wheat. corr
~ oats except July corn fell 70 new
rotor records. u
Doprnirx 3-4-l 80 cents down. wheat
neferward saeRcd further. Corn started
a-4-2 off and subsequently, held neal
tie initial limits