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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Jul 10, 1916
Page
7
The market opened steady with August at 13.08 in New York and August at 12.81 in New Orleans. Other contracts moved to 13.14 October 13.34 December 13.40 January 13.55 March 18.55 in New York and 12.93 October 28.11 December 13.19 January 13.39 March 13.39 in New Orleans.
In New Orleans on July 10 continuing rains in the eastern cotton region spurred morning buying and caused prices to rise briefly. By noon the market slipped as shorts covered and profits were taken, with months 5 to 9 points under last week's close. Spot cotton held steady. Low middling was 12.50. The day closed with a net decline of 9 to 14 points.
The New York cotton market opened firm with gains of 6 to 7 points on steady cables and rain in parts of the belt. October and December contracts rose to new highs but eased early trading. prices softened to around 13.00% for October and 12.21 for December by midday before closing steady.
Wall Street Review notes irregularity in last week's pattern continuing at the opening. Specialties faced pressure with declines in Industrial Alcohol Mexican Petroleum Marine preferred and several munition and metal issues including zinc.
In Chicago on July 10 hogs declined with bids around 9.50 to 10.20 for various weights while cattle receipts reached 18 000 head and averaged lower with native beef cattle 7.25 to 11.20. Sheep receipts stood at 19 000 head with the market steady as wethers ranged 6.75 to 8.20 and lambs 7.50 to 11.10.
Chicago grain markets show wheat weakening as no new black rust threat to spring crop emerges. Opening quotes fall 13 8 to 11 2 cents with July at 1.06 to 1.06 1 4 and September about 1.08 to 1.08 3 4, later rallying then slipping again while corn holds firm on tightened offerings.
Liverpool July 10 spot quiet with prices steady. Good middling 8.28, middling 8.12, low middling 7.96. Sales 6 000 bales including 5 700 American and 500 for speculation and export. Receipts 17 000 bales. Futures closed barely steady with July 7.91 and May–June 7.70 among others.
London reports a reshuffle after David Lloyd George becomes secretary for war. Edwin Montagu moves to finance duties, taking the post as minister of munitions, while Thomas McKinnon Wood shifts to chancellor of the duchy and treasury post. Harold Tennant is named secretary of state for Scotland.
The Alabama Hotel Men's Association meeting scheduled for Mobile on July 11 and 12 has been postponed. It will probably be held later this month, announced Monday by Vice President C. B. Hervey.
Five city departments join a campaign to keep New York clean as an epidemic of infantile paralysis spreads. nightly flushing of four million gallons of water is ordered, with police to arrest those discarding ashes and garbage and tenement officials to compel cleanup in congested areas. Brooklyn will see doubled night flushing as officials urge cleanliness to curb transmission. Dr La Winter of the federal health service denies quarantine plans for New York City.
Legal notice announces car maintenance service offered by Auto Fixery Co at 308 St. Michael street, Bell phone 326. Also notes National City Bank Mobile Alabama closing affairs with claims due, and bids for storm damage repairs by a contractor crew. City engineer announces bid opening for a five ply felt gravel covering of about 1,600 square feet.
The Norwegian steamship Cratheus arrived late Sunday evening from the Windward Islands to load general cargo for return. She docked at Pier 3 and is chartered by the Caribbean and Southern Line.
The United Fruit liner Fort Gaines, idled in port during Wednesday’s storm, departed early today for Tela Honduras and other tropical ports with a cargo of bananas.
The Norwegian steamship City of Tampico of the Munson Line arrived at the harbor late Sunday night and began loading a general cargo for Cuba this morning. She is berthed on the north side of Pier 8.
The Norwegian bark Norstjerne of 1334 tons, commanded by Pedersen, arrived Sunday afternoon from Fort Morgan. She sails from Bilbao Spain and lies in the stream above Pier 8 awaiting cargo handling.
The American steamship Alamo of the Mallory Line is expected to reach the harbor in the afternoon from New York via Key West and Tampa. It was to arrive Sunday afternoon but the delay is attributed to the hurricane of Wednesday.
Advices to Mobile Liners Inc local Leyland Line agents say the British steamship Norwegian is due to reach Fort Morgan today. The vessel comes for a cargo destined for Liverpool England.
Local notice lists vessels arriving or due in port this month. Entries include Oranian from Liverpool for British Isles due July 12, Asian from Liverpool due July 27, several Cuban and Mexican cargo ships, and repairs or lumber cargo for Henry W Cramp and others.
Savannah Ga July 10 Reports from south Georgia confirm heavy rain and wind damaged crops including cotton and corn. Flint river rose ten feet in twelve hours threatening new floods while Bainbridge saw inches of rainfall. Rail traffic halted after three washouts Bainbridge to Cuthbert and roads remain impassable. May be libel suit for infringement.
Bridgeport Connecticut July 10 Gi mon Lake treasurer of the Lake Torpedo Boat Company says the firm will likely libel the German submarine Deutschland at Baltimore tomorrow to claim American patents on its submarine design The action would involve alleging patent infringement The lake company reportedly holds no German patents but is alleged to base Germanys submarines on similar even keel principles
Selma Alabama July 10 mayor Benish leads a relief party with nearly all able bodied men to reach the Lake Lanter region where several hundred negroes are reported marooned and in imminent danger. Every available boat was moved overland to the scene of the overflow.
The fragment references lighthouse charts 204 205 620 and various Light List publications from 1916 1914 1908 with inspector B B Dorry directing actions. It mentions relighting on July 1 after a prior extinguishment and lists district andSup references.
A wartime naval action near Guayamas involved a government ship locating a Mexican vessel. No further details or actions will be taken as the incident closes.
New York July 10 German envoy Bernstorff sent Baron Von Haniel to learn status of the U-boat Deutschland. The dispatch follows reports of submarine activity and diplomatic exchanges about maritime operations.
Commissioner R IL Wilmer visits Mackau after a severe storm, noting fatalities and ongoing danger in the neighborhood. Officials warn residents to stay indoors and heed warnings as cleanup begins.
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