Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-08-06
NEW YORK STOCKS

NEW YORK, Aug 8. (APD-Stocks
moved irregularly in a narrow range
today. Early fractional losses were re-
covered In q number Of principal shares
and moderate declines elsewhere were
reduced.
New York Central. after dropping a
IA to II la. the lowest in ten years.
cut It's decline to a fraction. Ameri-
can Telephone dipped half a point and
then showed q net gain Of similar
size. u. s. Steel sagged TO 80 "a. q new
low for the movement before making
full recovery. Union Pacific. American
Tobac b and Foster Wheeler sagged
q point. Western Union lost 2. Case and
Columbia Carbon rallied one.
Call money renewed at ! ID per cent.
NEW ORLEANS COTTON
NEW ORLEANS. Aug 9. tAP)-The
cotton market had a quiet but steady
opening. Liverpool cables were very
much better han due and first trades
here showed gains OF 5 10 8 points
which was hardly a full response 70 the
advance abroad. The market gained
a little further after the start owing
to Berlin cables reporting that the
German government has Offered %
buy 600 900 bales OF the farm board
COTTON ana IAkt I'll 0HAAOh VA w
bales additional. October advanced 70
SIS and December I o5.37. or 8 10 =
points above yesterdays close.
Later prices eased off s points from
the top on some liquidation In advance
OF the government report due SATURDAY.
At the end OF the first hour the mar
kcSrss steady and 2 to > points ABOVE
ne market ruled very quiet all
morning with prices fluctuating narrow
ly within the earlier range. Near mid
session prices improved somewhat from
the lows, October trading al 814 and
December at B.3i. or 5 70 7 points above
yesterdays close. Ifs improvement was
attributed to several rather smaller
crop estimates than those given out
earlier in the week.
Three private estimates are issued
during the morning. one placing the
cron at i4.liT.0 900 bales. another at b.
$50. 200 Inc another at i3.456.OOO. me
average guess OF the members OF the
New York exchange is l3.si3.O0o bales.
NEW YORK COTTON
NEW YORK. Aug. 6. tAP)|Cotton
opened steady today. 4 TO s points
higher In response 20 relatively firm
cables. There was only a moderate de-
mand. however. and after the opening
demand had been supplied. prices cas-
ed under n continuation OF the recent
selling movement. whicn appeared "
be promoted by the ruling OF stocks
and wheat.
After selling UP 10 s13 AZ the start.
October reacted to 6.07. while January
sold Off from SAT 70 $40. or back 20
approximately yesterdays closing quota
tions. Three more private crop reports
were issued with condition figures
ranging from 7O5 70 T3A and figures
on the indicated crop from l3.45o.0Oo
up 20 14.1l7.O 900 bales.
Liverpool cables reported covering.
trade calling and continental buying
In that market. but said that sales OF
cotton cloths and yarn were poor with
coriidence lacking.
Trading was quiet later In the morn
ing and fluctuations were narrow with
the tone no better than steady az Q
yesterdays closing quotations. Cover
ing became a little more active on the
din and there NAV have been some
buying on expectations that the
strengthened technical position OF the
market would reflect by rallies In ad-
vance OF next SATURDAYS government
report. There seemed little inclination
TO follow IN the advance with ouvinC
orders and the market AZ midday was
rDlng around $50 for October and s43
January.