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Newspaper
The Mobile News Item
Location
Mobile, Alabama, United States of America
Date
Aug 15, 1925
Page
6
An Inter Service release shows the July general price level rising 1.6 percent from June with notable gains in farm products and meats while corn oats and wheat eased. Rubber and clothing groups rose modestly, and the overall year to date increases are strongest for farm products and oils.
The local Chamber of Commerce closes its Buyers Week with a total registration near 650 and aims to reach 1 000. Merchants expect strong turnover as buyers return to their home towns after late Friday departures. Many purchased goods valued at railroad allowances with refunds planned for those spending heavily.
Market data show shifts across the cotton complex with October and December positions quoted near 23 cents. New Orleans prices opened steady with futures steady to higher on early trading while New York opened barely steady amid mixed supply and weather news from the eastern belt.
The text notes broad declines in wheat prices follow government crop reports from Canada and the United States. Corn and oats fluctuated, with provisions varying, while traders cited hold policies by farmers and light domestic movement as factors in the market drop.
Sunday bar silver at 70 1-8 cents per ounce in New York with Mexican dollars at 54 cents. In Chicago poultry prices show Peary alive and four cars forecast, no fowls due, ducks 21 cents, spring geese prices listed.
The New York clearing house banks and trust companies report an excess reserve of 680,150 for the week, up from last week. Trading and exchange figures follow with cables and rates noted for several currencies.
Financial bulletin notes bonds fluctuated in a narrow range on Aug 16 with small volume. Arrow and Amer. cap. writing paper gains, rail issues mixed with fractional improvements for Southern Railway and Seaboard Refunding. 6s and foreign obligations remained steady as government issues held firm.
New York markets rose as favorable trade signals and bank policy relief boosted sentiment. Strong gains in transportation and industrials supported ceiling prices with high rails, crude oil, and auto shares led by General Motors and railmakers. division signs pointed to stronger year records despite fluctuations.
Wheat prices show weakness with December at 1.97 and May 1.603-4 while September stands at 1.587-8. No. 2 red Winter rents firm and other grains vary with mixed results across corn oats and coffee futures noted in a broad market summary.
Livestock prices in Chicago and East St Louis show a mixed week with fat steers mostly steady to unevenly lower and yearlings varied. Hogs receipts about 3,000 with offerings steady to higher in places while sheep and lambs trend steady to weaker, with top lambs around 14.75 to 15.50 and bulk veal and cattle values near 12 to 16 dollars for selected lots.
Chicago cash market summary shows No 2 hard No 1 mixed and yellow wheat values around 1.06 per unit with oats No 5 5 and No 3 white listed. Barley around 73 81. timothy seed near 8.50 and clover seed about 19.50. Lard ribs and bellies cited with prices near 17.27 19.00.
Chicago August 15 AP reveals Abraham Lincoln relied on Robert J. Walker as his press agent. Walker raised funds from European bankers, staged publicity in London and Frankfurt, and reportedly borrowed millions for the Union, aiding bond and loan campaigns while facing personal ruin and obscurity after his efforts.
Professor Edward East of Harvard warned at a Williams Institute of Politics round table that disease eradication alone won’t extend life if population growth continues. He cited global life expectancy around 50 years, noting Australia 57, US about 51, Italy 44, India 23, with Italy offering a stern lesson to growth advocates.
In the English Channel near Ouessant the cargo steamer Saint Marie ran on a rock in dense fog and foundered within minutes. The captain and ten crew members died, thirteen survived clinging to a boat and reaching Ouessant in frail condition. Nearby the Bereville, en route from St Azur to Swansea with coal, struck a hole in fog and was towed into Brest after tugs arrived.
In New Orleans on August 15 Benjamin J. Williams vicepresident of a trade group urged revision of the law requiring semi monthly cotton crop reports. He argued such reports disrupt trade by creating suspense and delaying purchases of finished goods, hurting price discovery and market activity.
Mrs J P Morgan wife of the international banker died at Glen Cove after two months of fighting a mysterious sleeping illness. Cause was heart collapse from indigestion though lethargic encephalitis was the underlying disease. Survived by two sons Junius Spencer and Henry Sturgis, two daughters Frances and Jake Morgan Nichols, funeral plans not announced.
In Kasito near St. Peter, two brothers aged 14 and 12 damaged the Kasito cemetery last week seeking a newspaper headline. The older boy confessed to tipping over 28 gravestones and to setting fire to a country schoolhouse last fall along with several petty thefts over the past year.
Lela V. Scopes, sister of the famous evolution trial figure, will join the Highland Manor School for Girls in Tarrytown New York. She will earn 1000 dollars yearly, have all expenses paid, and may become registrar or dean.
Police in a 24 hour drive against violators of the thoroughfare stop law arrested 127 drivers of various motor vehicles. 107 pleaded guilty, others failed to appear in court. fines ranged from 10 to 25 dollars. Norden was fined for failing to stop and tearing up his ticket. Patton was fined 25 dollars for speeding. Lott faced a 15 day sentence or 15 dollars fine for 30 mph.
Mobile Woodmen of the World members travel by boat to Daphne for a barbecue hosted by Daphne Camp 208. Delegations from Prichard 384 join, Ed K. Cogburn leads Mobile group. The program features a fish fry, Woodcraft talks, education remarks, dancing, music by the Mobile Woodmen Band, and bathing. East shore towns Fairhope Secour Robertsdale Loxley Perdido are represented. Lt. Gov. Charles B. McDowell is set to give the principal address.
Aug 15 Muscatine Iowa AP reports Norman Baker owner of B Station complaints AT and T monopoly of the air. He says ATandT denied broadcasting license but granted licenses to others using similar equipment. He seeks a Justice Department probe and asks Senators Brookhart and Cummings to investigate monopolistic actions.
Turpentine receipts total 481 with shipments of 13 and stock of 1138 at Navall Stores Savannah. Sales show 3,224 scents at firm prices. Notes indicate values such as 19.15 and 13.35 with other figures 13.4. Information appears from August 5 report.
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