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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Feb 17, 1913
Page
10
Bears dominate trading with predictions of a bottom before a rebound while rates fall. Augusta Georgia remains spot interest hub for the section with Atlantic crop short and mill demand steady. prices show declines in grades with sales listed and regional quotings for Good Middling around 12 1 2.
The report lists Sterling commercial at 4.424% 4 4.8244 and New York Light commercial at 7ic dis with New Orleans Light at par values. Includes brief notes on rate levels for these light and commercial issues.
Cotton futures opened barely steady and then fell 12 to 19 points by afternoon with prices closing 12 to 18 points lower. Trading was dull as external selling suggested long positions exiting and South spot offerings increased amid favorable weather and Mexican outlook concerns.
Cotton futures start lower amid weak Liverpool cables and spreading bearish sentiment in the South with warmer belt forecasts and unsettled European and Mexican politics. A late session rally occurs on covering and trade support, but offerings stay heavy. spot middling prices rise to about 12.70 for middling uplands and 12.95 for middling gulf. No sales are reported as futures close barely steady.
Spot cotton in Liverpool saw moderate business with easier prices. American middling fair at 7.29 and middling 6.73 led the day, with 8,000 bales sold, 500 for speculation and export, and 32,000 bales received including 23,500 American. Futures opened easier and closed quiet and steady.
Market notes report Baldwin County sweet potatoes back in receipts with Bush els at 60 to 70 cents each. Florida strawberries bring 22.5 to 25 cents a quart and Cuban tomatoes sell from 2.76 to 3.25 per crate as demand remains steady. A local detective force nabbed a daylight thief on Commerce street during warm weather trading.
Receipts show shipments on Southern Railway with Baker Lyons Co. totals 760 bales across trains 130 and 3, plus 3 bales by Baker Lyons 187 on Louisville and Nashville. Mobile and Ohio 96 with Bevill Phillips Co. 2 bales, export compress 100, total 102. Steamer James T. Carney carries 4 bales for F M Ladd and Davis Wilson Gaillard. Steamer American lists 32 bales for Montgomery Davis Wilson Gaillard Baker Lyons Bevill Phillips Farmers Commission Co. Total 32. Steamer City of Mobile from Selma includes 31 bales with Farmers Commission Co. 14, Davis Wilson Gaillard 18, Zimmern Co. 8, Bevill Phillips Co. 1.
The list shows closing prices for Amalgamated Copper at 68 5 8, American Beet Sugar 35 1 2, American Cotton Oil 60, American Smelting 69 6 8, American Sugar Refining 114 1 2, and many more including General Electric 1387 8, United States Steel 61 1 2, Union Pacific 156, Texas Oil 116, and Chesapeake & Ohio 76, with assorted railroads, airlines, and industrials across the market.
The House approved a bill to authorize constructing a bridge across the Mississippi at Baton Rouge Louisiana. Memphis Tennessee becomes the southernmost point bridged on the river.
Wheat advanced then weakened on selling pressure as May futures opened slightly higher and moved to a high before retreating. Big receipts weighed on corn while oats mirrored the trend. Semi monthly stock reports lifted packing house products with May pork at 19.80, lard 10.62, ribs 10.57.
New York reports show a slide in prices after word of J. P. Morgan's illness, with stocks hitting lows not seen in over a year and bonds remaining heavy. A late rally brought some recovery as investors covered shorts to lock in profits, leaving most active months 5 to 6 points off.
London report details a new militant tactic in which small packages sent to cabinet members and MPs release snuff when opened. The devices described are part of a campaign labeled the Cause, with figures General Drumman and Lieutenant Kenny planning actions.
Washington Feb 17. Orders to the Third cavalry part of a general plan to keep troops ready for rapid movement. The Third cavalry forms part of the First cavalry brigade at Fort Sam Houston with the Second and Fourteenth cavalry attached. The Second regiment is at Fort Bliss Texas and the Fourteenth is spread between Forts Clark and McIntosh Texas and Marfa on border patrol duty.
El Paso report says Salazar, who controls about 1500 rebels, has recognized Gomez as president. Traffic on the Mexican Central is resumed between Juarez and Chihuahua City. Wires run toward Mexico City but censorship remains strict and authorities refuse questions. Chihuahua City reported quiet.
At the annual meeting in Chicago the Great Western circuit set racing dates for Dallas Texas from October 20 to November 3. J M Kellar of Decatur Illinois was re elected president of the circuit.
Cairo Egypt Feb 17 J Pierpont Morgan, troubled by indigestion before and during his Nile journey, has shown marked improvement since returning to the city Saturday.
Lair weather and moderate winter temperatures accompany high barometer pressure over the southern United States. A central area north of Montana over the Rocky Mountain region brings above freezing in elevation. Another low area with precipitation lies northeast. High pressure advances from the north Pacific coast. Fair weather and little temperature change expected for Mobile tonight and Tuesday. Albert Ashenberger local Forecaster, Weather Bureau.
The Webb anti shipping bill prohibits the shipment or transportation of any intoxicating liquor across state lines or from foreign countries into the United States. It declares related contracts null and void and bars any suit to enforce such contracts in U S courts.
Philadelphia February 17 The American Railways Company owner of street railways and other plants in various regions filed for a Delaware charter as the first move to evade Wilson era anti trust laws. The firm held operations in several cities and sites in this state.
Supplementary flood warning states the Tombigbee River at Demopolis will reach crest around 46 feet in about two days. Albert Ashenberger, local Weather Bureau forecaster, issues the advisory.
Rumors spread along the Mobile river front that the Sunny South may enter the Alabama river trade as an independent packet within 24 hours. The move would restore harmony among the river boat operators or modify the existing two weekly Mobile to Peach Tree service once run by the American and controlled by Henry Lindsey and associates. The withdrawal of the Mary S. Blees from the Staples route is cited as the trigger for the possible split in the combine.
Four Mobile fishermen traveling aboard the smack D. L. Trafton endured a perilous voyage after losing their boat off Grand Isle. The Mobile Fish and Oyster Company vessel, valued at 40000, sank with a full load of red snappers when the compass failed. The crew, warned at Grand Island, reached shore and sold much of their catch to local fishermen before their craft went down at the second bar.
Two lumber vessels from the Indies the Lampasas and Bertha arrived in Mobile over Sunday and Monday morning. A light cargo is loaded at berths after shifting from the stream anchorage. Other ships including Daisy Reed Coral Leaf Nubian Fort Morgan Alm Signe Manchuria and several fruiters are listed as due or under way with cargoes to and from Cuba Haiti and the Windward Islands.
Admiral Schley reports passing a submerged derelict off the coast described as a large schooner with a heavy mast about eight feet above water. This secondhand sighting comes from Jensen on February 13.
Trenton N J February 17 The American Railways Company a New Jersey corporation filed for a Delaware charter signaling possible pullout from New Jersey in response to Governor Wilsons sewer anti trust bills The bills ban future holding company formations and prohibit holding companies from buying more stock in other firms The American Railways Company acts as a holding company owning stock in several street railway operators nationwide
Mrs Bruce Crawford of Niagra Missouri reports Dr King's New Discovery transformed her pale weak sick boy into a healthy child. The remedy is described as tasty, harmless, and effective for colds coughs throat and chest troubles. Suitable for youngsters and adults alike.
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