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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
May 18, 1915
Page
5
Tuesday vertical market notes show decline in mobile cotton futures as buyers pause. Early closing prices indicate cautious trading with demand soft across most grades. Officials warn of seasonal fluctuations affecting prices through the week.
The cotton market showed early gains then a slide with prices ending modestly down. Trading noted German press comments on a national note and steadying into afternoon with spot unchanged and futures down about four to six points.
Cotton opened steady or slightly higher with active months gaining a few points on scattered buying and wet weather fears in the southwest. After favorable weather, prices turned easier as demand remained light and sentiment softened amid Wall Street selling.
A Copenhagen dispatch reports Admiral von Tirpitz has resigned citing disagreements with the German admiralty and Kaiser Wilhelm over the Lusitania sinking. The accompanying photo shows Kaiser Wilhelm, Tirpitz, naval minister, and Admiral von Holtzendorf.
Prices eased in mid day sessions with a net decline of 5 to 9 points as activity slowed. Spot middling uplands sold at 9.55 with 700 bales traded while futures held steady with modest daily highs and lows across May to January contracts.
Liverpool notes cotton spot steady with good middling at 5.59 and mid 5.23, low middling 4.79. Sales reach 10 000 bales for speculation and export while receipts total 60 000 bales. Futures markets show barely steady with May-June at 5.18 1 2 and other recent pairs listed.
Receipts totaled 710 casks of turpentine and 2,304 casks of rosin in Savannah. Turpentine quotes ranged from 2.95 to 6.40 for various grades, with rosin steady around 5.60 to 6.40 depending on quality.
The May 18 market report from St. Louis shows poultry largely unchanged with turkeys as the notable exception. Butter and eggs hold steady while creamery products mark modest shifts.
Early trading showed broad declines across all major lists with many leaders off a point or more. Trading was cautious and moderate with United States Steel Reading and Union Pacific under bear pressure as prices for standard stocks edged lower and bonds eased.
Chicago May 18 cash grain and provisions prices list Wheat No 2 red 1.54 1 2 1.56 1 4 No 2 hard 1.54 1 2 1.55 3 4 Corn No 2 yellow 75 1 2 76c Rye nominal barley 72 78c Hay Timothy 5.00 0.25 clover 8.50 12.75 Provisions Fork 17.60 lard 9.42 947 ribs 9.75 10.25 United States Marshal C c Gewin from Atlanta Ga went into business.
Captain W W Wood of the Leyland line steamer Livateent ceut recounts orders not to approach the Lusitania after two submarines surfaced. He details wireless calls from the Lusitania and Narragansett, near-miss torpedo incidents, and his ship’s rapid speed to avoid attack while staying away from the sinking line steamer.
Walter Parker of the St Louis Business Men's League indicates Chinese commercial interests may fund a Mississippi Valley to China steamship line. Parker spoke with B Atwood Robinson an American adviser to the Chinese government during a visit by Chinese trade commissioners en route from New Orleans.
Norfolk May 18 The frigate Constellation, Seyansot, left Newport in tow of the Uncas for what naval men believe will be her last sea voyage. The ship had been towed from Boston to participate in the nation’s Decades Banner celebration months ago.
GLASGOW Scotland May A liner from New York reports sighting a submarine the night before near Greenock. The Gundrder tech passenger says the submarine zigzagged and the liner raced away with small boats manned in readiness.
Residents petition for Isle of Pines to be declared American territory. A copy of the petition has been sent to the Cuban government for consideration.
Fragmentary OCR notes list Touart and Quinn with 1 bale, a total of 4 bales from Louisville and Nashville agents, Baskinsky Co. with 5 bales, and a total of 10 bales across entries.
Griffing, agent of the Mobile and Ohio and president of the American Association of Freight Agents, attends the association's annual convention in Richmond, Virginia.
A fragmentary OCR item from the Mobile Chamber of Commerce presents a list titled Quotations of Provisions with numeric entries 33 40 12 1 2 12 3 4 80 85 3 230. The readable text shows no clear events or names beyond the organization and a sequence of numbers.
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