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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Oct 04, 1916
Page
7
New Orleans cotton opened sharply higher as fears of worse weather and rising demand from explosives makers spurred buyers. By noon gains reached 16 to 24 points, later easing but remaining firm with October to January futures up around 25 points, spot sales tallied at 1,915 bales and middling grade around 16.13.
Receipts at U S ports over four days total 173 621 152 719 with exports to Great Britain 59 863 and 25 622 and exports to Canada 52 699 and 35 131. Stock on hand 868 280 and 1 057 809. Cumulative receipts since August 1 reach 1 436 751 and 1 124 120.
An advertisement touts Dr King’s New Life Pills as fast relief for constipation and sluggish liver. It promises a non-griping bowel movement and a clearer complexion, urging purchase at the druggist for 25 cents and a cheerful morning after taking a dose Tonight.
New York opening shows moderate activity with gains across sectors. Industrials and specialties push higher with notable moves by American Sugar, Bethlehem Steel, Studebaker, and multiple rail and utility shares. price changes range from slight to over two points.
The Alabama Public Service Commission vows to enforce intra state rate laws against Southern Railway as cotton shipments to Mobile would move to interstate pricing. L. Greene of Washington, the railway’s traffic chief, is warned of maximum fines for violations. The railroad had claimed most Mobile cotton is for export or transfer to other states or countries.
Chicago market notes show wheat prices for No 2 red No 3 red and hard grades with ranges from 1.51 to 1.67 per bushel and corn and oats quotes including No 2 yellow 89 3 4 and 47 1 2. Hay and barley prices listed with Timothy and clover values. New York cotton seed oil market closes strong with spot and near term prices around 11 dollars per barrel and forward bids from October through February.
Sam Davis of Hose Company No 2 resigned Tuesday night to join another service. Herman A. Constantine of Hose Company No 6 refused an engine house transfer to replace Davis, was suspended by Chief McCosker, with approval from Commissioner Laz Schwarz.
Fort Worth Texas October 4 The present cotton crop will fall short of the 11 637 000 bales estimate issued yesterday by the United States department of agriculture says Henry N Pope president of the Association of State Farmers Union Presidents The government first estimate was for more than 14 000 000 bales but this was reduced by 3 000 000 bales due to climate and pests Pope argues the factors will further cut the revised figure He notes the top crop remains the smallest in history and that current acreage is high but yield per acre is the lowest in twenty years He also says small production tends to be followed by larger acreages and higher prices and calls for a reasonable price for a reasonable crop to help farmers escape debt and tenants become homeowners.
The data shows March sales at 10.74 and 10.75, April at 10.77 and 10.85, and May at 10.87 and 10.89 with total sales of 49 700. These figures indicate a steady progression across the listed months.
Turpentine firm shows 43 1 4 cents with no sales and 293 casks received. Rosin firm reports no sales and 1 075 Warrels received. Prices quoted for grades B through N range from 5.87 1 2 to 6.60 with various 1 2 increments and multiple letter grades including WG and WW.
The Liverpool market reports spot cotton steady with good middling at 9.89, middling 9.75, and low middling 9.59. Sales reach 10,000 bales with 1,000 for speculation and export. receipts total 32,000 bales. Futures show a steady up‑tick across the forward curve from Oct to Jun values.
The Federal Reserve Board released reports from twelve districts describing generally favorable business conditions. Some districts note steady activity with optimism, while others cite high prices, crop uncertainties, or labor shortages but overall positive outlook and improving bank clearings in several regions.
New York reports a sharp rise in infantile paralysis with 23 new cases in the twenty four hours ending at 10 am, up from 12, and seven deaths compared with eight the previous day. Federal travel inspections have ended though authorities say the epidemic is officially over.
The probate court issued marriage licenses on Wednesday. White and Marie Joseph Smith, Walsh and Allicia Irene Freeland, James G. Davis and Gertrude Cole, and Robert Harris and Arneta Bat were recorded.
The schooner Melbourn P Smith moved from the stream to Pier 6 to load a lumber cargo after arriving a few days earlier. The steamer Asian of Mobile Liners, Inc. reports in the lower bay under quarantine and expected to sail to the city tonight or Thursday morning to load cotton for Liverpool.
The bark Duncraig was shifted from the stream to the Pinto Docks for repairs. After repairs, it will sail to the Spanish river to discharge ballast before loading cargo.
The steamer Liguria went down the channel this morning and passed out to sea later in the day. She is bound for Tampa to load phosphate rock for Stockholm.
The Ward liner Nord Amerika, carrying sisal for James Gibboney & Co., sank in the channel today after sailing to the Mallory line. The cargo and details of the voyage are reported from the harbor.
The Danish steamer Nordfarer loaded pig iron, lumber and timber here for Van Heynigen and Company and sailed today. The tug Echo returned to harbor after towing the Edna V Pickles to Key Francis Cuba, then to Havana, took the Stranger to Pensacola, and back to Mobile. The nine and a half day voyage was considered a good run.
The Magnolia oil barge of the Texas Oil Company fleet has docked at the L and N wharf in Mo Ile for repairs. The vessel arrived recently and will undergo maintenance work while moored at the dedicated dock.
Williamson entered into rest October 3 1916 at 2 o'clock from the residence of J G Hines 65 Delaware street interment Magnolia cemetery.
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