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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Aug 19, 1917
Page
6
Wholesale prices for poultry and produce listed with per pound bids, including chickens ducks and potatoes. Naval stores and spirits prices noted with rosin tar and crude ranges from Wilmington market, indicating regional commodity activity and pricing.
Early trading showed irregularity with Delaware and Hudson slipping to 102 3/4 while United Fruit and others edged. Chicago grain opened with declines in corn and weak wheat, markets steadied later with slight rallies but ended mixed amid government price considerations and strong oats supply.
The Aug. 18 cotton market opened lower with light activity and declines of 5 to 24 points across active months. October fell to 24.40 and January to 24.23 before recovering late. overall session ends with a modest net decline as forecasts of drought relief fade and selling quiets for weekend coverage.
The New York spot market reported quiet trading with middling cotton at 25.65 cents per pound. Traders noted no dramatic moves and kept to light activity as the market digested broader demand signals.
New Orleans market sees cotton down early by 17 to 22 points as mill takings and Texas rain forecasts weigh. Decline widens to 22 to 24 points before shorts trim losses and a partial recovery. Close shows a 13 to 16 point drop with key futures around 23.6 cents.
New Orleans spot cotton remains quiet at unchanged levels. Sales of 266 bales reported with no arrivals. Prices shown include good ordinary 24.62, strict good ordinary 25.12, low middling 25.62, strict low middling 26.00, middling 26.25, strict middling 26.50, good middling 26.75, strict good middling 27.00.
The cotton seed oil market in New York closed firm on August 18 with spot at 15.00 and varying bids for future months from August to March. Total sales reached 16,900 contracts.
New York August 18 actual condition of clearing house banks and trust companies reports a reserve excess of 76,455,990 dollars above legal requirements. This is an increase of 4,420,620 dollars from the previous week.
In New York on August 18 the coffee market shows Rio 7, 9 18 futures steady. December futures quoted at 7.74 and March at 7.08 indicating little change across the benchmark contracts.
Savannah reports for August 18 show turpentine firm 381 2, sales 311, receipts 243, stocks 23 828, while rosin firm 1 416, receipts 1 032, stocks 90 332. Quote lists on B D E F G 5.25–5.30 H 5.30, 1 5.35, K 5.40, M 5.75–5.90, N 6.50–6.65, W G 7.00–7.10, W W 7.15–7.25.
New York market roundup shows butter receipts 6,958 tubs with creamery butter at 41 1 4 to 42 1 4 cents, eggs receipts 10,619 with fresh extras 43 to 44 cents, extra firsts 41 to 42, firsts 37 to 40, cheese irregular with state fresh specials 23 3 4 to 24, dressed poultry irregular with chickens 19 to 26 cents, fowls 18 to 25 1 2, turkeys 18 to 32.
B Marin of Savannah and Miss Marie Brown of Southport are guests at the Seashore Hotel. Mrs. Charles Dean of Memphis is spending time on the beach. Mr. and Mrs. J E Simmons and child of Charlotte are also Seashore Hotel guests.
United Press reports treasury officials will ask Congress to convert the 3 1 2 percent first issue into 4 percent bonds next week. A higher tax on the 4 percent issue could lift the tax free 3 1 2 percent bonds above par, risking subscriptions to the second issue. Printing losses from changing the first issue could total about 1.5 million dollars, with delays likely as bonds would need replacement and reprinting.
Mr and Mrs F M Smith of Whiteville are beach visitors staying at a local resort. The couple enjoys seaside leisure as summer crowds gather along the coast.
United States faces an 369,000,000 bushel wheat shortfall for European allies in 1917. Herbert Hoover urges Americans to cut wheat flour use by one pound per week, shift to corn oats barley and rye, and adopt “war bread” while preserving overall nutrition. France Italy and the United Kingdom would need large imports if normal consumption continues. US and Canada supply most remaining wheat.
Lumina concerts gather crowds with two programs at 3 45 P M and 8 45 P M by the Kneisel orchestra. Afternoon program includes marches waltz songs and a finale while the night program features Cavalleria Rusticana Pinafore selections and Sousa marches among others.
Medill McCormick congressman from Illinois arrived in Paris to study the war situation and its effect on America. He brought two trunk loads of chewing gum to be distributed to General Pershing's troops and lunched with Pershing. He will confer with Premier Ribot and French officials, visit the front next week, and then go to England before reporting to Congress on his observations.
Foreign ministers in London report Terenschenko vows Russia will seek allied revision of war aims to match the revolution. Vatican peace note leads Russian diplomats to say no reply without allied consult. Gompers meets Ambassador Bakhmeteff. possible talk on Stockholm conference and Vatican move’s impact. Treasury head McAdoo urges immediate passage of emergency war relief and insurance bill to aid soldiers and dependents.
Washington August 18 The campaign to weld opposing senators into a coalition against the 2 006 970 000 revenue bill failed today. The LafFollette Gore Thomas alliance gains some ground and will push the bill next week. Borah vows a speech on defects in the bill. Skirmishes yield small victories as amendments and rate proposals are debated.
A sequence of more than a dozen explosions at the Curtis and Harvel ammunition plant in Rigaud Quebec leaves a section of the town in ruins. Casualties are uncertain but could reach about 20, with total losses estimated above 11 million dollars as multiple small buildings and houses are destroyed.
Rev I M Powers of Wallace will conduct and preach at Hebenezar Baptist Church today at 11 am and 8 pm. The church choir will join St Luke’s AME Zion at 3 pm where Powers will also preach. He is a prominent North Carolina church leader, successful farmer, and community figure.
London August 18 The British government used the munitions of war act to prohibit a looming strike by 40 000 railway engineers and firemen. The action follows extensive conferences and directs the dispute to the Sea labor for resolution. Workers seek recognition of the eight hour day.
Southern Railway System announces reduced round trip tickets from all NC points to Raleigh and back for Boy's Short Course Farm Demonstration Agents Conference and Farmers' events August 21 28 and 26 30 1917. Tickets on sale August 19 20 21 26 27 28 with return by midnight September 2 in Raleigh. Travel agent J O Jones Raleigh NC handles arrangements.
The Winston-Salem to Beaufort Sleeping Car service becomes Winston-Salem to Goldsboro. Effective with last cars into and out of Beaufort Sunday Aug 12 the Fort Sleeping Car line is shortened to a erty earn same we 5 Car will continue to be handled on trains Nos 232-112 and 111-237. For details contact Southern Railway System Agents or J O Jones Traveling Passenger Agent Raleigh NC.
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