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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Mar 03, 1913
Page
10
English consols and French entes rose while buyers hesitated. Traders noted thin activity with a speculative crowd lingering as the market steadied. The focus shifted to the impending Democratic inauguration and cotton receipts across rail lines and steamboats showing modest movement.
Mobile Exchange in Sterling shows a commercial rate around 4.82 percent. New York sight lists a 75 cent discount. New Orleans sight marks par for a related commercial quote.
Cotton futures in New Orleans opened steady with gains of 1 to 4 points on good cables. Favorable weather slightly restricted buying. early highs were 1 to 6 points higher, but selling soon pushed prices off. After 30 minutes of trading, prices were unchanged from Saturday’s close with the main months showing little further movement.
New York March 3 cotton futures start higher by 2 to 7 points on better cables and dry goods signals. Active buying by foreign houses and spot brokers keeps the market unsettled though midmorning prices show minor gains from Saturday's close.
New York traders held long opera tions amid belief unfavorable factors had been discounted. Buying spanned coalers, coppers, Pacifics and other leaders, with copper gains lifted by metal market prices. Corn products fell after government actions against a company. A midday dip tempered demand while bonds remained steady.
Market resume notes dull Monday activity for Mobile bay crabs and stable 30 cent per dozen hardback butter prices. Elgin Illinois butter board meets at noon. quotations to be public tomorrow. Wholesale grocery labor focuses on unloading cars for warehouse stocks rather than loading outbound drays. buyer name often drives shipments. produce shows high demand for apples and oranges.
A dated ledger style list presents prices for top U.S. stocks including Amalgamated Caper 111-2, American Beet Sugar 36 1-4, American Cotton Oil 49, American Smelting 71, American Sugar Refining 115 1-4, and many others. Notable entries include United States Steel at 62 1-2, U S Steel pid 108 1-4, Southern Pacific 100 1-2, Union Pacific 154 5-8, and New York Central 107 1-2. The list spans electricals, railroads, steel, and resource firms with bid and quote style figures.
In Savannah turpentine firm 42c with no sales, receipts 309. rosin firm none, receipts 680. Bid prices ranged from B 6.25 to WG 7.85 and WW 7.65. In Kansas City cattle receipts 10,000 head with 800 Southerns, market strong. hogs 6,000 head, market lower. sheep 12,000 head, market firm with muttons 6.25 to 6.50 and Colorado lambs 7.90 to 8.40.
Wheat futures eased as larger world shipments cooled demand while May grain opened modestly lower and edged down. Corn declined early then rallied. oats fell as commission house selling pressured prices. Hog strength lifted provisions with May pork around 20.50 to 20.55, lard near 10.85 to 10.87, ribs about 10.77.
March 3 reports butter at 36e per pound in Elgin Illinois with dairy markets noted.
New York on March 3 reports money on call strong with rates near 2 1/4 to 4 3/8 percent. Ruling rate at 4 3/8 percent, closing bid 3 percent, offered 3 1/2 percent. Time loans firm at 60 days 4 1/2 to 5 percent, 90 days and six months 4 3/4 to 5 percent. Prime mercantile paper 5 1/4 percent. Sterling exchange firm with bankers' bills at 483.25, silver 59 6 8, Mexican dollars 48. Government bonds steady, railroad bonds firm.
Government files civil suit in United States district court under the Sherman anti trust law charging Barret Manufacturing Company of West Virginia and 14 subsidiaries American Coal Products Company and several officers with suppressing competition in coal tar coal tar pitch and roofing felt. The complaint cites purchase of competing properties special agreements and contracts that reduce and fix competition as violations.
A critical piece arguing that some judges spoil justice by making jokes in court. The author asserts such humor irritates women litigants, wastes time, and drives up legal costs, urging judges to fund their own comedic conduct or write and perform a private comedy to curb the habit.
In the Law and Equity Court Judge Berney the court sustained demurrers to pleas in W P Roberts vs S H Bradshaw filed February 6 1913. Tuesday’s call includes Battles Fuel and Building Material vs Kooiman Co Foreign Tool and Machinery vs Henderson Iron Works.
Mrs D P Bestor was escorted to Birmingham Sunday night by the serious illness of her sister Mrs J P Billups. Mrs Billups has stayed in Birmingham at her daughter's bedside who recently underwent several serious operations. Her illness will be learned with regret.
The Black Warrior will fall while the upper Tombigbee remains steady and the lower Tombigbee rises over the next two days. The Alabama River at Montgomery will fall slowly tonight into Tuesday, Selma’s river level will rise until tonight or Tuesday morning and then fall. Albert Ashenberger, Lucas Forecaster.
Weather guidance warns of 38 degree risks for 36hour northbound shipments and 40 degree east, with moderate west temperatures. A curious remark follows about the o. i. man who ate too much and claimed he did not want to die in debt to his stomach.
The board discussed continuing funds for juvenile work and examined costs for the Coden revetment, which remained unresolved. Written petitions will be required for road improvements, and a verbal request near Carver's precinct was denied for lacking written form. Joseph Nixon pressed to remove a fence obstructing a road near Grand Bay. owners were notified two months prior, with the fence to be removed or a court citation issued. Rockwell and Muth were ordered to fix a ditch into Government street loop property. if not done by Saturday, the county will complete the work and bill the firm. Acme Cornice Works won a bid to renew skylights and reinforce the county building framing. White & Benson received a contract to repair the jail water heater for 50 dollars, per Commissioner Gailliard’s recommendation. James Radcliffe of Southern Fuel and Material Co asked to include twelve in his final estimate.
Fair weather with frosts on the east Gulf and south Atlantic coasts and freezing interior temperatures accompany the high pressure over the Atlantic and Gulf states. A separate high extends from the Pacific to the Rockies with rain in the North and fair weather in the South. A cold high lies north of Minnesota. A low pressure area stretches from the southern Rockies to the upper Great Lakes driving a warm southerly wind into the middle Mississippi valley. The interior low will bring fair and much warmer weather to Mobile tonight and Tuesday. Forecaster Weather Bureau.
The county approved a request concerning cars of material arriving before the month’s start. McRea and others’ two mile road project from Mount Vernon to Mobile River was laid over after about a year. A bill by A H Downey for 24 dollars due for pest house work was passed for payment.
The Norwegian steamship Bertha of Munson line reaches Pier 8 Mobile and Ohio docks with 230 crates of pineapples from Havana. Other Munson vessels and shipments from Cuba noted, including the British Hoyle Bank and the Ravn from Puertz Cortez with bananas. The Endicott and Beachum schooners also appear in port for lumber loading and sailing to Cuba or Caribbean ports.
Liverpool cotton market reports a moderate closing with easier prices. American middling fair at 7.38, good middling 1.c4, middling 6.38, receipts 18,000 bales, sales 3,000 bales including 800 for speculation and export, American 7,800 bales. Futures quotes by period shown from March-April to January-February.
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