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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Aug 07, 1912
Page
11
In today’s markets report cotton futures moved lower early with declines around 46 points before recovering to near unchanged. Prices closed steady with middling at 12 3/4 cents and 52 market sales on the spot, reflecting cautious sentiment amid shower forecasts in the western belt.
Cotton futures in New York opened steady with a 6 to 13 point decline on rains in the Southwest and crop optimism from the East. Short covering supported a late-morning rally, but the market eased again with prices mostly 3 to 5 points lower, closing steady for the day.
Money on call steady at 2 percent with a 2 percent ruling rate. Time loans easier with 60 days at 3 percent, 90 days at 3 percent to 4 percent, six months at 4 percent. Prime mercantile bills 5 percent. Sterling exchange firm with bankers bills at 5 84.65 for 60 day and 4 87.15 for demand. Commercial bills 4 83 and bar-silver 0 14. Mexican dollars reflect regular rates.
Three stations in the Mobile cotton district logged rain in the 24 hours ending 8 this morning Aberdeen Mississippi .42 Macon Mississippi .23 Columbus Mississippi .04 Others were cloudy with no precipitation Waynesboro Mississippi topped the day at 92 while Aberdeen bottomed at 84 The district average high was 88 8 and low 70 Temps were near or below normal with scattered showers in eastern districts.
In Savannah Georgia nav al stores show caren firm at 42 percent rosin firm F six dollars sixty and six seventy five percent G six seventy seven and eighty six forty cents.
Receipts total about 22 000 hogs with prices around 5.70 for a general grade. Sheep receipts near 6 600 with bids from 6.20 to 6.40 for various classes. Cattle prices listed for native and mixed grades, with calves and cows showing wide ranges. Market notes indicate a weaker tone overall and mixed demand across hogs sheep and cattle.
James Becker appeared before Judge Champerlain in the inferior criminal court on a burglary charge for entering the Crichton residence of Arthur Lée and stealing worn apparel. Evidence supported binding Becker over to the city court with a $300 bond to assure the next grand jury’s action.
Police detain two young couples at the Louisville and Nashville depot as investigators verify identities. The quartet, accused as professional macers, allegedly cheated money from men who were told the women were hungry. Names given at the station were Mr. and Mrs. T. M. Sasith and Mr. and Mrs. J. F. Jones. Mrs. Jones claimed age fifteen. They said Birmingham as residence and had arrived in Mobile five days earlier. The women appeared well dressed and jewelry was present. They are held as dangerous and suspicious.
President Cochrane of the Chamber of Commerce and Business League announced a committee to outline the scope of the proposed Farmer's Bureau in Mobile district. The list includes Weinacker as chairman and Frank E Overall among others. Additional railroad committee members were named to study a Pensacola Mobile railroad crossing proposal. Each recipient received formal appointment letters detailing duties.
Prices mostly lower at the opening with Canadian Pacific down two points and declines in American Tobacco Smelting Beet Sugar and Biscuit. St Paul Lehigh Valley and Reach show gains later. American Tobacco and steel shares slip amid weakness abroad. Bonds steady as market ends with renewed strength in final dealings.
Wilson outlines two great aims for reform: justice in tariffs trusts and monopoly, and broader national renewal through conservation, banking reform, education, and equitable citizenship. He condemns private groups shaping policy, calls for inclusive counsel, and urges trusteeship over the Philippines while stressing the people's cause over private interests.
The Norwegian steamer Origen arrived from Port Limon with 19 000 banana bunches destined for United Fruit Company. Other vessels tied up include Grib, Signe, Belizé, and Ravn. lumber and asphalt cargoes noted and port activity described. The Tudor Prince headed to Sunderland with lumber.
New York August 7. The American Tobacco Company announces a special cash dividend of 20 percent on common stock and the regular 21 2 percent quarterly dividend. It also distributes 15,000 shares of American Machine and Foundry Company stock to its stockholders. The decree of disintegration frees the company from certain securities to be disposed of before January 1.
In Montgomery Alabama bail was set at 10000 for J H Felder and A Sidney Jones indicted in the Sloan Wan murder case. The judge ordered bond likely to be posted today while their cases were continued to the next term. The questioning of Walter Jones, sentenced to death, hints at further grand jury action when it reconvenes next Monday.
A telegram from Fuquay secretary treasurer of Alabama Association of County Fairs requests fixing the date for the Mobile fair. He notes most Alabama fairs have settled dates this fall and premium lists have been mailed. Meridiana and others reported preparations and support for the seashore event.
Charles G. Hutchisson a well known Socialist of Oakdale is likely to be the commissioner candidate opposing Pat J Lyons D D Langan and T Hartwell in the tenth ward where he resides. The ward list includes several Bolshevik supporters.
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