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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Oct 07, 1916
Page
7
Week end liquidation pressed prices early with declines of 4 to 9 points before buying interest returned as weather favorable across the belt kept offerings scarce. Active months rose 19 to 21 points from yesterday with futures ending very steady up 18 to 20 points. Spot cotton closed unchanged with middling at 16.19.
The New York cotton market opened unsettled as early prices showed small gains and declines. December slipped to 10.75 with January near 16.94, but covering lifted contracts to around 17.12 for December and 17.06 for January before steadying. spot cotton quoted middling 17.10 with no sales.
New York trading opens with uneven moves as gossip and official denials influence prices. Some recoveries precede sharp late selling by speculators, but overall activity remains orderly with strong final hour closes and mixed bond results.
Wheat and corn prices are listed with various grades and bid ranges. Oats and barley show modest quotes, while hay and provisions reflect current market values including rome, lard, ribs, and related items.
In Naval Savannah on October 7 a turpentine firm shows 431 1/2 sales with 232 casks and no receipts. A rosin firm reports 999 sales and no receipts. Quotes list B D E at 6, F G at 20, H I K M N at 6.25, WG at 6.40 and 6.50.
Large crews repair vessels at Ollinger Bruce Gulf Docks with hulls and barges moved. The Lamberga hull was freed from Pinto ways and the Allegheny Minto and BE L Russell in port awaiting work. Elizabeth T Doyle damaged earlier is queued. Port Antonio brings a bananas cargo for United Fruit Company.
The government steamer General Holabird resumed service after repairs and left the wharf around 9 o clock for the run to Fort Morgan. The vessel had been laid up for repairs prior to this schedule.
An American steamer Dorothy is expected to dock from Cuba towing the barge Josephine. Reports issued this morning indicate the vessel Dorothy will arrive soon and the Scale is expected shortly.
The steamer Asian of Mobile Liners Inc shifted from pier 2 to loading cotton for Liverpool. The vessel began loading a partial cargo of cotton this morning at the same pier.
The schooner M. A. Achorn, reported arriving leaky, is in good condition after rough weather forty miles ESE of Mobile. Captain Bush says the ship is undamaged and returned to the lower bay for a safe harbor before resuming its voyage from Moss Point to Gilbar a Cuba with lumber. The vessel will stay in the bay awaiting favorable winds to sail again.
The steamer Yunrut reported at the lower bay station now fumigating. It will proceed to the city as soon as released. Sha is consigned to James Gibboney & Co and comes to load cargo.
The tug Nellie departed the harbor today towing the barge Hollis wood toward Cliba. Holliswood carries a lumber load and remains in tow behind Nellie during the voyage.
The tug Dawn arrived in the harbor with the barge Jim in tow loaded with staves from the schooner Albert D. Mills which went ashore during the July 5 storm in the lower bay.
London dispatches report Count von Dohna-Schlodien commander of the German cruiser Moewe killed in France. Earlier reports note Moewe raided Allied shipping from 1914 and carried 199 prisoners and 1,000,000 marks in gold before returning to a German port.
Lord Robert Cecil defends Britain's blacklist as lawful and says Britain seeks fresh trade talks with Sweden to restore old friendship and commercial ties. He cites Sweden's needs postwar growth and rejects accusations of arbitrary imports limits while urging neutrals not to hinder belligerent rights.
The prime minister voices opposition to mediation by Sweden stating it could compromise Germany and alarm the allies. He emphasizes determination for victory to secure lasting peace and condemns German submarine atrocities and the blacklist controversy while defending Britain’s stance on neutral trade and enemy prevention.
President Wilson returns to Shadow Lawn in Long Branch New Jersey at 10 20 this morning after his Middle Western trip. He will address Progressives and Independents this afternoon and may reference the threatened railroad strike. Officials say he did not seek legislation and that his intervention came only after both sides signaled readiness to strike.
New York reports indicate potential peace overtures from Germany fueling a broad but unsettled market. Trading runs about 1 000 000 to 1 400 000 shares daily with rails showing strength on earnings boosts while declines follow circulating peace rumors.
Washington officials said there is no basis to reports that Ambassador Gerard is en route from Germany to seek mediation in the war for the Emperor. They asserted no peace overture has been received and would remove all doubt about his return.
W D O'Brien former Tallapoosa county tax collector will have his trial postponed to the next Tallapoosa circuit term after a state defendant agreement. Indictments accuse him of failing to make final settlements totaling about 4500 dollars to state and county. Postponement requested to aid his family.
Lord Robert outlines that only guaranteed imports may proceed to prevent re export to the enemy and avoid letting home industries lose exportable goods. He favors centralized control via government bodies or trader associations as used with Holland Denmark and Norway to prevent price manipulation. He notes Sweden talks failed last year and calls for fresh negotiations considering Sweden’s normal requirements.
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