Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-09-18

N1ANAE1O
NEW YORK STOCKS
NEW YORK. Sept. IS. (Apl-After
partially recovering early stocks. stocks
slumped heavily today as selling pres
sure was renewed.
American Telephone was particularly
weak. Selling ex-dividend. the stock
dropped under so TO the lowest quota
ton since 1876. Union Pacific broke
=. McKeesport tin plate. Borden. Allied
Chemical. American a n Western
Union lost 2 IL 70 ,. while u. g. Steel
dropped 2. Most leading shares were
off AZ least q point.
Resumption OF weakness was appar-
entity based on the markets Inability
70 extend yesterdays rally. which was
regarded as purely technical Call money
renewed at rs per cent.
NEW YORK COTTON
NEW YORK. Sept. Ia. iAPl-Cotton
opened steady ut unchanged prices TO
m advance OF , points which was only
. partial response 20 relatively firm
Liverpool cables
Grade buying and covering but II was
supplied By southern and scattered SELL
Ing which seemed 10 come partly from
Liverpool and the continent. Prices
worked Off slightly after the call with
December selling of from STA 10 SIS
and March from 7.17 TO SOS. or bach
TO about the low records OF yesterday.
Trading was moderately active at the
start with southern hedging somewhat
more In evidence. although Il was said
20 be still below normal for this seas
on Of the year. Liverpool cables said
the market there had been influenced
oy local and continental buying on
acreage restriction. which was sup
posed 10 refer 20 progress made with
the proposed acreage bills IN the Texas
state legislature. These cables also re-
ported rather a better British home
trade In cotton goods.
NEW ORLEANS COTTON
NEW ORLEANS. Sept. rs. tAP)-The
cotton market had a very quiet start
today and although Liverpool came IN
much better han due owing to the
Texas acreage restriction action. the
market here remained unchanged to
Prices eased off after the start on
hedge selling. October dropping to 647
and December TO 6.70. or 4 10 5 points
down from the opening. When the
hedges were absorbed. prices were steadi-
or. October rsllying two points to Gao
Trading during the first hour was
very moderate.
The cotton market ruled easier all
morning and prices reclined slowly
under pressure OF some hedge selling
but mainly because Of selling by ring
traders owing to weakness OF the stock
market
October traded down to 643 and
December to 665. eight to nine points
under yesterdays close and new low
levels for the season.
At mid-session the market was still
easy and at the lows.
LIVESTOCK
CHICAGO. Sept Ia. tAP)-fU. 8. ID.
A.l-Hogs. IL 900 including 1000 direct:
steady: heavies and packing sows strong
TO 10 higher; is0-2S0 lbs. S65-5.e co. top
SOS: 330-lbs. SIS: l40-l50 lbs. 5.3s-5 so:
pigs 47S-5.i0; packing sows 3.90-4.75;
smooth sorts 70 $40
steady ON all classes. grassy and short
fed steers mostly of southwestern orr
gin comprise bulk OF run: no choice
cattle offered: slaughter cattle and
v~ealers: Steers. 600-l500 lbs. 700-e75:
common m medium 6o0-l300 lbs. 3.75-
725: hefiers. 550-s50 lbs. 6.75-s.50; cows,
375-6.00. bulls (yearlings excludedl
fbeef) 425-5.50; vealers milk fedl 500
9.75: medium 100000: stocker and
heifer steers. 5O0-l050 lbs. 525-7O0.
Sheep. 1900. mostly steady: early
bulk native eve and wefher lambs 900
Gas to packers; good Montenas 800:
native throwouts 3T5-4 90: lambs 90
lbs. down. 575-6.Ss: ewes a0-i50 lbs. 90
las; feeding lambs 50-75 lbs. 5.25-5s5.
CHICAGO GRAIN
Cant 20 fADA- E~nNrw -
vanced early today after an initial sag
that was associated with Liverpool
wheat quotations going lower than ex-
pected, and with pressure OF Argentine
offerings abroad. Speculative buying
however. developed on the declines here.
with nearby deliveries in demand on
the part OF previous sellers
Opening unchanged TO 3-8 cent low
err. Chicago wheat afterward scored
gains all around. Corn also started IN
changed 20 80 off and later showed a
general advance.