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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Feb 02, 1913
Page
11
Fresh water perch and red snapper gains mix with lower orange demand as packing delays and car shortages affect receipts. Butter holds at 36 to 39 cents per pound while kumquats and Florida tangerines sell quickly. A Scotch Collie shipment sparks market amusement as hotels expect visitors in town.
Piker market shows slight steadiness in Liverpool New York and New Orleans while demand remains nominal. Traders fear further declines as spot demand falters and holders resist selling though evidence of selling pressure grows.
Mobile and Ohio Railroad Export logs record 545 bales across lines including Oisville Nashville Train 126 F. Lott-Blacksher Baker Bevill Quin F M Ladd and others with quantities 526 15 14 11 7 totaling 545 bales noted by John Quill Vienna Ala and Wilson Gaillard Bevill Co Baker Lyons Co Quinn and F M Ladd.
Cotton futures in New Orleans opened steady near yesterday's close with slight gains in March at one point. Sellers and short covering dominated early trading as dull demand kept several months weak while the market later steadied and recovered to Friday’s level. Bearish talk cited a routine week end bounce after a bearish week.
The weekly cotton review notes small skirmishes between bulls and bears with no clear advantage. Prices shift as buyers push up March while bears press other months. Balkan peace hopes restrain bulls and may lift prices if settled. Strong Fall River reports and rising New York March contracts worry shorts. spot cotton strengthens in the South with holders resisting auction prices.
International News Service reports very decided inactivity in the world cotton market over the past week. Declines were not notable, and the market shows little speculative interest, awaiting new incentives tied to crop conditions and demand.
International News Service reports from Wichita and other Kansas points that the winter wheat plant shows resilience to zero weather. Experts note uncertainty remains until growing weather clarifies conditions, while market opinion splits on price directions as cold snaps affect futures and cash markets.
The article notes the 1912 U S cotton crop could reach about 14 6 million bales with linters included and a value near 1 0 billion dollars, driven by strong yields, high prices, and rising seed oil usage. It argues the United States will still outpace global production and that corn remains king before cotton. The piece lauds the South’s expected prosperity from the harvest.
Chicago cattle and hog market summaries show hog receipts at about 14 000 with prices near yesterday's level and strong tone. Cattle receipts around 200 with steady trading and assorted categories including Texas steers and stockers. Sheep receipts near 1 000 with steady values across native muttons yearlings and lambs. Also note New York cotton markets with middling and gulf quotes provided.
Grain and Provisions in Chicago show wheat easing after initial gains as selling by commission houses slows. May wheat opens near 93 7-8 to 94 and retreats to 93 7-8, while corn weakens despite receipts, May trading around 62 3-8 to 52 1-2 cents and fluctuating. Oats follow broader grain trends as May tops at 84 1-8 to 34 1-8 cents, with declines to 34 and 34 1-8. Provisions fall on packer unloading with May pork near 19.05 to 19.10, lard around 10.15 to 10.17 1-2, and ribs near 10.17 1-2.
Coffee futures in New York drifted with May at 13.48 and July at 13.66 as trading remained steady. The brief market update cites Rio No 7 with a value of 121-2.
New York February 1 sugar markets show Muscovado at 9 test 2.98 cen trifugal at 6 test 3.48 and molasses at 89 test 2.73. Refined sugar quiet with crushed at 5.08, granulated fine 4.35, powdered prices noted.
New York trading opened dull with Colorado Fuel leading advances at about 3 1 4 percent and its preferred by about 4 points. Steel common at 65 1 8, Union Pacific firm near 161, Southern Pacific at 107 1 2 down 1, and liquidity seen in Pennsylvania rumors of future financing. Am Tele over sold on convertible bond claims while market eyes strength ahead with some weakness for Southern Pacific.
Money on call remains nominal with no loans. Time loans gain strength across terms from sixty days at 3 1 4 to 4 per cent. Prime commercial paper quoted at 4 1 2 to 5 per cent. Sterling steady with bankers bills at 4.83.10 for sixty days and 4 87.26 for demand. Commercial bills 4.83. Bar silver at 61 7 8, Mexican dollars 43 1 2. Government bonds steady. railroad bonds show irregularity.
The Mobile clearing house reports week ending February 1, 1913 clearings total 1 522 339 41 dollars. January 1913 clearings amount to 7 440 673 26 dollars.
An OCR read of a market section lists apples, celery, eggplants, grapes, nectarines, onions, oranges, potatoes, pineapples and rutabagas with varied prices per unit, crate, or sack. Several items show prices like 2.50 per 4 tea, 1.90 to 2.00 per 150-lb sack, and 3.00 to 6.00 ranges, reflecting wholesale or retail quotes.
Walter and Co advertises special attention to country orders with prompt handling and reliable service.
Lige McHaney, transported from the state penitentiary to Grove Hill Clarke county to testify in a case, jumped from a moving train near Dickinson after distracting the officer. The train was about fifteen miles per hour when he slipped free after being allowed water. McHaney, convicted in Clarke county circuit court for two counts of grand larceny, has relatives in Louisiana and is sought by the state for arrest.
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