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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
May 23, 1916
Page
7
Reports from Savannah and New York reflect softer cotton spot activity with July and October futures drifting. Turpentine and rosin hold firmer while rails and steel shares swing with mixed gains and declines across industrial stocks led by General Motors.
Cotton spot eases in Liverpool with good middling at 8.80 and middling 8.64. Sales total 10 000 bales with 2 000 bales for export. Receipts 25 000 bales. Futures ease with July August 8.17 and September October 7.96. December January 7.77 1 2.
In New Orleans on May 23 the cotton market opened firm before rainfall in the Atlantic region pushed prices down. July and October futures fell, with later declines totaling 16 to 21 points and eventual net losses of 19 to 25 points. Spot sales were 170 to arrive 115, middling 12.94. In New York, early gains gave way to widespread selling as drought in the eastern belt and uncertain peace prospects weighed on demand. July fell to 12.96 and October to 12.98, with most months down 9 to 16 points by midmorning.
Chicago May 23 report shows hog receipts 15 000 weak with mixed and heavy sales. cattle 4 000 steady led by native beef 8.15 to 10.40. sheep 15 000 weak with wethers 7.75 to 9.90 and lambs 9.00 to 12.90. Wheat and corn quotes list No 2 red and yellow prices, oats, rye, barley, hay values, and a New York stock list with major issues such as Bethlehem Steel and U S Steel.
Reading shares rose sharply as trading resumed, opening with a block of 6,000 shares at 110 1 2 to 110 1 4 and climbing to 119 3 4 before pulling back. The market also tracked St Paul Wabash and United States issues amid volatility.
Spot bid at 10.75, May at 10.85, June 10.87 to 10.90, July 10.82 to 10.83, August 10.87 to 10.90, September 10.90 to 10.92, October 10.06 to 10.07, November 9.23 to 9.25, December 9.12 to 9.15. Total sales reach 30,500 barrels.
Nashville reports Judge Jesse Edgington of Memphis testifies in his impeachment case denying any bribes or beer money payments. He says he did not pay or receive money linked to official favors. James F. Bickers testifies Edgington gave him 500 dollars to influence the attorney general’s swearing in.
An order by District Judge Waddill allocates the $590000 from the Appam cargo sale to Norfolk banks including Bank of Commerce 140000, Norfolk National Bank 100000, Seaboard National 75000, Virginia National 75000, and Richmond First National 0s American National 75000, with the money earning 2 percent interest.
Paris May 23 reports President Poincare visiting the Belgian front and awarding Queen Elizabeth of Belgium the French War Cross. The medal honors her courage and untiring devotion to wounded under enemy fire.
Rev D F Ellisor has returned to Jackson Ala after a revival at the Toulminville Methodist Church. His Sunday sermon on Immortality of the Soul drew a large crowd despite threatening weather. Regular Mission Study Class meets at 10:30 with Mrs M H Carm. Several local families and visitors are noted in recent social events.
A list of vessels at or departing from Norfolk era docks and piers including steamships Vera Honduras and Karen for Cuba, Fort Gaines Belize, schooners EmilyS Malcolm and Ivelyn W Hinckley for the West Indies and Rosario, and other ships bound for Cuba, the West Indies, or undergoing repairs at Gulf Dry Docks and Ollinger Bruce Docks.
Meltonian a Br steamship will load cargo for the British Isles. Sylvanian a Br steamship to load Forceler a Br schooner to load lumber for Cuba. Albert D. Mills an Am schooner to bring sisal from Yucatan. Elizabeth T. Doyle an Am schooner from Africa to repair here. Wreda a Russ schooner to load lumber and timber here. Corinto a Nov steamship with bananas from Central America.
The Norwegian steamship Fort Gaines arrived from Belize and other Central American ports with twenty five thousand bunches of bananas. She discharged at Pier 1. The Fort Gaines is an Orr Laubenheimer liner.
The Mallory liner Lampasas departed this morning for New York carrying cotton naval stores and lumber. Earlier she returned with a large general merchandise cargo bringing goods to the port last week.
The British schooner Explorer departed for West Indian ports this afternoon carrying a lumber cargo. Captain Malachi Yates purchased the load and will dispose of it where a buyer is found. He is likely to return to Mobile with a cargo of coconuts.
The American schooner M. A. Achorn sails for Cuba after several days delay due to unfavorable winds. Captain Bush plans to take the vessel to Mobile once lumber cargo is discharged.
The American schooner Rena A. Murph arrived Sunday from Progreso Mexico with a sisal cargo and moved to Pier 2 this morning. She began discharging at 1 PM and will be hauled out on the Ollinger Bruce dry docks for bottom painting.
The Susie B Dantzler, laden with sisal, will shift today to Plier 2 for cargo discharge either late this afternoon or tomorrow morning, with operations scheduled to proceed promptly. A sister ship accompanies the move as part of a coordinated port operation.
Mauna Loa volcano erupts again near Honolulu, sending lava down the mountainside at about a mile per hour from 7000 feet elevation. Two lava channels form as glow lights the night landscape and newspapers can be read in distant towns. The flow mirrors the nine year ago eruption path toward the sea, about fifty miles away with little valuable property in the path.
City commission postponed action on selling the west side of Hallet street north of Dauphin used by Hose Co. No. 6. Gordon Smith, a baker, would buy for a cracker factory, but the city must provide a home for the fire apparatus and horses before deed signing. Commissioner Krog reported Fire Chief McCosker offered to store the apparatus and horses, potentially using an automobile.
E W Pettus of Selma urged the Alabama Democratic executive committee to back a 1918 convention for nominating supreme court judges and drafting a party platform. Pettus argued conventions curb deceptive campaigning while J K Dixon warned against such a long-range move. The measure failed after most members opposed dragging the vote.
In Washington on May 23 the rivers and harbors appropriation measure faced a third week of Senate debate as filibusterers led by Senators Kenyon and Sherman pressed for roll calls on all amendments. A Senate committee amendment approved $234,700 for the Arkansas river, up from $209,700 in the house bill.
Attorneys for local jitney operators pressed a federal court for a permanent injunction to block enforcement of the city jitney ordinance. They argued bonding requirements of 5000 per car would expose bonding companies to damages. Judge Foster took the case under advisement.
HATTIESBURG Miss May 23 A jury was completed late this afternoon to try L B Holland for killing 8 R McCrory in the Acme restaurant a few Sundays ago. Taking of evidence will begin tomorrow morning. A strong array of lawyers is entered on both sides and a third battle is expected. Holland is expected to base his defense on the unwritten law.
Secretary Baker asked Congress for a supplemental $533,000 for construction at the planned ordnance depot in the Panama Canal Zone and a $260,000 deficiency estimate. The $250,000 for the signal service covers needs arising from border and Mexican operations.
The Evening Standard reports moves toward granting home rule in Ireland at the earliest date with Ulster excluded. It notes a temporary government could be formed by an advisory Irish board drawn from both parties as an interim measure.
St Paul May 22 The illness of J J Hill railroad builder and capitalist is causing concern among his friends He has not been at his office since last Wednesday Early reports called it minor but later accounts say complications have arisen and that his condition remains unclear
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