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Newspaper
Charlotte News
Location
Charlotte, North Carolina, United States of America
Date
Jun 29, 1911
Page
10
Late market reports describe cotton prices slipping five to six points on old crop and nine on new crop as trading slows after early covering. New York spot cotton quotes middling uplands 14.80 and gulf 15.05 with 200 bales sold, while stocks and other grains also show varied activity.
New Orleans June 29 cotton futures opened steady with advances of 3 to 7 points as dry weather in Texas and Oklahoma and reports from Bombay India supported buying. Old crop futures rose 3 to 9 points by noon while new crops extended gains. market rumors spoke of long cotton being sold. Cotton seed oil prices also moved higher with spot and near dates showing gains.
Money on call remained steady in New York with short term rates at 2 3/8 to 2 1/2 percent. Ruling rate stood at 2 3/8 percent with closing bids at 2 3/8 and offers at 2 3/8. time loans varied from 60 days at 2 1/2 to 90 days at 2 3/4 percent and 6 months at 8 1/4 to 8 1/2 percent.
Fragmentary price list shows butter eggs and poultry rates with entries for hens chickens ducks geese and turkeys alongside a 15 percent correction note credited to Ernest Hill. The readable figures include per pound and per dozen values with several blanks indicating missing data.
American Cities Company to hold trolley and electric light firms in Memphis New Orleans Knoxville Tenn Birmingham Little Rock and Houston. Capitalization about 37 million with 21.01 million in six percent cumulative preferred shares 16 million in common. Also offering 10 million collateral trust bonus.
In Dover Walter Mc Ginnes a day laborer bought a basket from a public sale of Mrs. Thompson's goods. While examining the contents he found $45 in a memorandum book inside the basket. He paid five cents for the basket. A separate report notes a state wide senatorial primary debate in Atlanta with a possible legislature move before the July 11 ballot.
President Taft announced the appointment of Philander Claxton professor of education at the University of Tennessee as commissioner of education. He succeeds Elmer E. Brown who resigned.
London stocks opened steady with prices near unchanged and later advanced on fair buying. At noon values ranged from unchanged to 7 8 higher than yesterday's New York close. Afternoon trading was uneven as New York support helped end the day steady. money was in good demand and discount rates remained steady.
Prime mercantile paper ranged 4 to 41 2 per cent. Sterling exchange eased with bankers bills at 484.20 for 60-day bills and 486.15 to 486.30 for demand. Bar silver at 52 38 4, Mexican dollars at 45c. Government and railroad bonds steady.
Cotton spot markets report steady or unchanged middling prices in multiple cities on June 29. Memphis shows steady middling at 1b, while Macon Savannah and Augusta list middling 15 1 4, 15 1 8, and 15 3 8 respectively. Charleston and Columbia report no quotation or unchanged middling at noon.
Liverpool cotton market reports 4000 bales traded with 3500 American. Spot prices range from good middling at 8.33 to ordinary at 7.40. Futures opened and closed steady with June-July around 7.94 and March-April near 6.97.
Butter steady with creameries at 19 to 23 cents. daisies 17 to 23. Eggs steady, receipts 8 126 cases, firsts 13 1/2 to 14, prime firsts 14. Cheese steady with Daisies 12 to 4. Twins 12, Young Americas 12 1/2 to 3 4. Long Horns 12 3/4 to 13. Potatoes unsettled, new 4.65 to 4.75, old 1.00 to 1.15. Poultry irregular, turkeys 12, fowls 12 1/2, springs 20 to 22.
Chicago grain prices showed a mixed day with winter wheat harvest nearly complete and rains improving the northwest outlook. Corn rose on hot southwest weather while oats drew buying support. cash grain values for wheat and corn ranged with various No. 2 and No. 3 grades listed alongside futures bids for September.
Overview of grain and feed movements with re ship receipts including flour, wheat, corn, oats, rye and barley. Car lot receipts show 34 wheat cars, 181 corn cars and 95 oats cars with contract grade notes. Total wheat receipts at Chicago Minneapolis and Duluth today reached 268 cars, up from 236 last week and 154 a year ago.
Following a Spartanburg meeting, the Carolina Clinchfield and Ohio Railway will be leased by Chesapeake and Ohio and Seaboard Air Line. Through trains from Chicago to the Gulf will use the new network via C&O and Seaboard connections. The Clinchfield will extend 40 miles to Elkhorn City, linking with C&O, with existing Seaboard connection at Bostic. Key officials attended the inspection tour and supported the deal, noting Clinchfield’s strategic mountain gateway and $55 million invested in the road and coal lands. Existing relations will remain intact.
Hardy Teat vice president of the Firemen's Federation refused to discuss the Southern strike after returning from Washington. He pledged secrecy. The strike reportedly yields the best wages and working conditions yet seen for Southern firemen.
The field notes multiple Charlotte banks announcing their semi annual dividends payable July 1. First National Bank leads with 6 percent, followed by Commercial 5 percent, Charlotte and Merchants & Farmers 4 or 5 percent, American Trust 4 percent, Southern Loan and Savings 4 percent. First National, oldest since 1865, posts its highest payout aided by President Henry H. McAden.
St Petersburg reports the battleship Sevastopol, Russia's first dreadnought, launched at the Baltic works with ministry officials and a large attendance. The 23,000 ton vessel, 590 feet long, 87 feet beam, 42,000 horsepower, is slated for 23 knots. armed with 12 12 inch and 16 4.7 inch guns. Sister ship Poltava to launch July 40 anniversary of Poltava. keels laid for Petro Pavlovsk and Gangut to form first Baltic squadron.
President Taft weighs pulling back troops forming the maneuver division in Texas. A final cabinet decision is set for tomorrow.
Sealed bids for constructing certain sewers and drains on specified Charlotte streets will be received until 8 30 p m July 5 1911. Bids must include a 5 percent certified check payable to the City Treasurer. Plans and forms available at the City Engineer office. The city reserves the right to reject any or all bids.
The defense in the Rodney J. Diegle case unexpectedly rested its case today. Diegle, the senate sergeant-at-arms, is charged with abetting in the alleged bribery of State Senator L. R. Andrews. The trial is underway in Columbus, Ohio, with Associated Press reporting.
Maurice Thompson of the Northwest and Mickey OBrien of Sacramento Cal fought ten fast rounds in Butte Montana last night ending in a draw.
The Charlotte Board of Aldermen has laid out a permanent improvement district along East Fifth street and College street sections, to be cement paved. Assessments of special benefits will be determined at City Hall on July 10, 1911 at 8 30 p m. Owners and interested parties must appear to show cause why the assessment should not be made. City Clerk and Treasurer.
Sealed proposals for paving streets in Charlotte will be received by the Executive Board until 8 30 p m July 5 1911. Work covers about 58400 square yards with bids on Bitulithic Sheet Asphalt Bituminous Macadam Double Bond Pavement Vitrified Brick and Wooden Block Pavement. A 5 percent certified check payable to the City Treasurer accompanies each bid. Plans and specs at City Engineer Office. By order of the Executive Board City Clerk and Treasurer Joseph Firth City Engineer.
The forecast calls for generally fair conditions tonight and Friday across the south with light to moderate winds. High pressure across the Gulf to Lake region shows little movement, keeping temperatures cooler in the northwest. a low in the Rockies strengthens slightly, bringing rainfall to northern border states.
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