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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Apr 03, 1917
Page
3
In New York on April 3 the cotton market surged after Washington news, with old crop positions reaching levels not seen since the earlier break. May 19.64, July 19.36, and December 18.51, as outside demand and war hopes boost buying and cover.
Anticipation of a wartime declaration by Congress pushed cotton prices up in New Orleans. Early demand was broad with limited supply and better cables, leaving months like May to December up 36 to 50 points at noon and closing steady with a net rise of 39 to 43 points.
In New Orleans on April 3 buyers pushed spot cotton up 37 points with trading months 40 to 43 points above yesterday. Spot sales totaled 4,570 bales for arrival with 535 bales. Prices ranged from good ordinary 17.62 to strict good middling 19.74, with receipts at 1,839 and stock at 371,874.
The cotton oil market closed strong with spot at 14.65 and futures up to 14.92 for May and 14.90 for July. Trading totaled 52 000 barrels across contracts from April to November with various bid-ask quotes.
Savannah reports April 3 market figures with firm receipts for turpentine at 161 and rosin at 902. Trading quotes listed for grades B through WG with prices ranging from 5.60 to 6.00 per unit.
New York April 3 coffee futures steady with Rio No. 7 at 91 2 latest. May at 7.58 and July at 7.68 as market closes show little movement.
Chicago and New York markets show varied dairy and poultry pricing. Butter unsettled with creamery marks and high receipts. eyes rising, fowls and potatoes receipts steady. New York butter eases with creamery and firsts firming. cheese unsettled with state specials and averages.
Raw sugar prices showed initial firmness with May 5.09, July 5.20 and September 5.28 as the market opened higher on Wall Street buying. By noon prices hovered near yesterday's close and the afternoon session saw profit taking, closing steady at 2.7 points lower on the day with 23,500 tons sold.
The House met under the new Democratic leadership with chairmanship shifts among committees. Southern chairs were replaced by Northern Democrats in several panels, keeping party majorities but granting Republicans an extra seat on key committees. New chairmen were named for Rules, Poll, North Carolina Rivers and Harbors, Small of North Carolina, Education, Sears, Florida Claims, Stephens, Mississippi Accounts, Park, Georgia Elections, No. a Wilson, Louisiana.
Wall Street opened with mixed trading as President's war message raised nerves. Prices swung with rail and munition shares volatile while broad declines appeared in early afternoon trading, several prominent Industrials and utilities retreating from morning highs.
A stirring rally at the Association building featured Robert Ruark and Lacy Hunt as speakers. C C Chadbourn donated 100 for youth memberships, prompting cheers and votes of thanks. The drive to secure victory continues tonight with a 10:30 PM close and workers urged to visit every list member.
Balloting continues for Shriners Gala Week Queen with Vera Furlong holding first, Mary Houston close behind. Annie Banks reappears in sixth after a brief absence as Florence Morrison shifts to eighth and Virginia Farmer to tenth amid daily official tallies.
Water stage in the Cape Fear River at Fayetteville North Carolina reported 9.3 feet at 8 a m yesterday. The level indicates stage conditions along the river in the region.
Tomorrow Wilmington prepares for a big baseball afternoon as fans flock to Sunset Park to see the New York Yankees oppose the Boston Braves in a spring training clash. Notable stars like Home Run Baker and Rabbit Maranville are expected to play, with Donovan or Stallings possible on the mound and Dick Rudolph likely in action.
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