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Newspaper
The Mobile Item
Location
Mobile, Alabama, United States of America
Date
Oct 18, 1913
Page
15
Turpentine firm trading at 293-4,401-4c with no sales and 246 casks received. Rosin firm shows no sales but 1,284 barrels received. Quoted prices for grades B D E F G H and I range around 3.60 to 3.70 dollars.
The Mobile market shows steady activity with receipts and stock figures noted. Exports to Britain and the Continent are reported, along with U.S. port receipts since September 1 and overall export totals for the period.
Cotton futures opened steady with gains of 8 to 11 points on Western region weather and frost forecasts in Texas Panhandle. Prices advanced early but profits prompted selling and the market finished the first half hour 6 to 7 points above prior close, ending the session steady with a small net decline.
The Mobile Board of Commissioners grants Magnolia Compress and Warehouse Co a 30 year nonexclusive railroad franchise along Beauregard and Magnolia streets. The city will collect 10 dollars annually and reserves rights to street improvements including paving and utilities. Property owners may lay connecting spurs with authorization and on equal terms with Magnolia.
Prices opened firm with gains of 11 to 22 points led by October at 13.75. Higher Liverpool cables and weather fears spurred buying, though early trading saw some price easing as selling surfaced. Futures closed steady with mixed quotes across months.
The stock market opened lower with Union Pacific down to 147 as 1,600 shares traded. Canadian Pacific and Illinois Central sank 114, while most issues fell only slightly. Several stocks hit new lows before a fractional rally as exhaustion of selling pressure appeared and margins forced some traders to close accounts. The Mexican situation and other factors provided support amid signs of oversold conditions.
Weekly cotton statistics show imports at 177000 bales with American imports 137000. Stock levels total 481000 with American stock 302000. American forwarded 175000 and exports at 2300.
The Tombigbee river and its branches are expected to hold steady over the next two days. The Alabama river is anticipated to remain largely unchanged tonight with a possible rise by Saturday or Sunday.
Impeachment court reconvened with 67 members present as article five acquittal was pronounced. Senators Argetsinger Bussey McClelland Simpson and others explained their votes while awaiting Governor Sulzer’s anticipated statement on the case and future plans.
Spot cotton in fair demand with prices firm led by mid and good middling. Prices listed for various grades from good ordinary to low middling and ordinary, with futures closed steady showing multiple forward month quotes across the season.
Ad copy touts Nadine Face Powder in green boxes as pure and harmless for sunburn and skin return. Mentions rising popularity and a price of 50 cents from National Toilet Company, Ports Tam, with promotional phrases about soft velvety complexion.
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