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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
May 08, 1915
Page
5
The market opened violently with widespread declines across the list after overnight news tied to the Lusitania disaster. United States Steel offered 15,000 shares at 62 to 62 1-2, Bethlehem Steel fell sharply, and many industrials like Westinghouse Electric Studebaker and Reading declined several points while Baltimore and Ohio edged up briefly.
The report lists closing prices for various cotton grades in Mobile, noting low ordinary and middling values with few sales. Prices shown include 6.136-265 for low ordinary, 5.75 for ckacuaree, 6.75 for 6.75, 7.18 to 7.25 for good ordinary, 8.13 to 8.26 for low middling, 6.0 for middling, 9.25 to 9.88 for good middling. Tone is nominal with no sales recorded.
Cotton rises 15 to 18 points in early New Orleans trading on better cables and short profit taking. Spots steady with 26 bales sold for delivery and Middling at 9 cents as prices drifted after rains in the eastern belt.
Cotton opened steady with prices 8 to 1 points higher amid active positions. Cables improved while foreign-connected houses bought heavily. domestic trade remains favorable and spot cotton is quiet. Middling uplands near 9.85 with May at 9.85 to 9.98, July through January futures shown.
Spot cotton eased with good middling at 5.51 and low middling 4.71. Sales reached 4,000 bales amid 17,000 bales receipts while futures quotes showed a quiet session with May-June at 5.05 and June-July at 5.11 1-2.
Turpentine prices steady to firm with bid quotes B 3.25 D 3.30 E 3.35 F G 3.50 H 5.65 I 3.65 70 K 3.75 M 4.20 N 5.15 W 5.70. Receipts 605 casks shipments 349 stock 21 203. Rosin activity quiet receipts 1704 barrels shipments 1307 barrels stock 70 565.
New York May 8 The statement on clearing house banks and trust companies shows they hold 162,393,840 in excess of legal requirements, a decrease of 7,786,530 from the prior week.
George W. Guthrie American ambassador to Japan arrived in Pittsburgh last night on a four months leave of absence.
The item congratulates children born on May 8 across years from 1901 to 1914 and invites them to a birthday picture party at the Empire Theatre this afternoon. Tickets mailed. Boys and girls to send full address and birthdate to the Children's Editor at least two days before their birth day.
Prices slid 2 to 10 points on Lusitania concerns with United States Steel under heavy selling, 1,700 shares offered at 2 to 12 point decline. A 6,000 share block of Westinghouse off at 7 to 10 point loss. Concerted support later boosted Amalgamated Copper American Smelting and Mexican Petroleum. Closing irregular amid broad bond weakness and varied gains are seen in some issues.
In Ocean Springs Mississippi Mr T J Miller and son T L Miller visited Mobile. The Orange Grove school trustees elected H R Murray as trustee and assigned new teachers after a picnic near the Cowart place. Local residents traveled to Pascagoula for business and leisure events including an Epworth League meeting.
Mr and Mrs J Lewis and their daughter Edith of Oklahoma City were reported safe in a cablegram received today after booking passage on the Lusitania. Lewis is described as a cotton buyer.
Berlin reports military gains on two fronts as German operations in Courland Galicia and Belgium push toward Libau Riga and Ypres. Field Marshal von Hindenburg leads toward Libau with aims to sever Russian lines, while Austro German forces press the Carpathian front and push west toward Lemberg. British and French forces retreat near Ypres as German gains widen.
Rev Laury of Bucatunna filled his pease appointment at the Epworth League service at the Methodist church. A crowd attended. Miss Frodsie Pullen led. Eight box cars on a side track loaded with cranberries burned Sunday morning origin unknown. Mrs Warren Wadsworth visiting Escatawpa friends. Misses Lina D and Virgie Causey hosted guests near Escatawpa Friday. Locals attended Vinegar Bend church services Sunday night.
Mr. and Mrs. Albert H. Eastman of Chicago and many others toured Dauphin Island last week. A weekend party included Mrs. Patterson and chaperones with a group of Misses Blacksher Horn Broadwood and others. Theresa Maguire of Minneapolis plans a several day island stay. Probate Court in Mobile County dated April 23 1915 sets May 25 1915 for settlement in the W C Carrell estate insolvency case with Bart B. Chamberlain to appear and finalize remaining assets.
Sealed bids will be received by the Mobile County Board of Revenue and Road Stoners at ten o clock Monday May 10 1915 for 16000 feet of lumber delivered to Mobile Cotton Mills Switch. Specifications available at the Clerk s office. The board reserves the right to reject any bids.
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