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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Aug 28, 1917
Page
3
Market activity shows short covering in New York cotton with October near 22.20 and January around 22.28 after an early rise to about 22.28 and 99.05 for adjacent months. Private crop reports and forecasts keep traders nervous ahead of Friday government figures as prices trim 10 to 12 points from session highs.
Spot cotton in New York on August 28 listed middling at 23.45 cents per pound with quiet trading across markets.
Favorable belt weather and continued weakness in Southern spot caused a 16 to 1 point intraday drop. By the first half hour, active futures gained from yesterday's close with October to May futures listed, closing steady with a net advance of 24 to 31 points and quotes ranging by month from 21.02 to 21.97 cents.
New Orleans spot cotton remains quiet and unchanged on August 28 with 191 bales sold and 100 expected to arrive. Prices show low middling at 21.87 cents, middling 22.50, good middling 23.00. receipts total 7,571 and stock 79,407.
Liverpool cot ton market reports limited demand with spot prices up 10 points. American middling fair at 19.23 and good middling 18.90 while sales reach 3,000 bales, receipts 25,000 bases. Futures also higher with August at 17.25 and March–April 15.37.
In New York on August 28 the cotton seed oil market closed strong with spot at 11420 and futures for January through December ranging from 14.68 to 14.90. Total sales reached 30 000 barrels.
Chicago trading started with scattered corn buying as northwest cold deterred gains. December futures rose to 1.09 1-8 while May touched 1.06 7-8, but both eased below opening. Oats edged up then slipped, provisions held steady as live hog strength confronted embargo talk.
Savannah market reports cite turpentine at 37 1 2 to 38 with 729 sales and 446 receipts. Rosin and naval stores figures include stocks, shipments, and specific price quotes for grades B through WW.
Mincoms New York August 28 reports the first and second coast artillery companies from Roanoke and Lynchburg Virginia with 312 men plus 118 men from the 117th Virginia Military Police arrived at Camp Mills today.
The first officer casualty in Pershing's forces in France, Second Lieutenant Frederick Wahlstrom of the Marine Corps, was reported after a motorcycle accident. He died August 21 and was buried in France August 23, aged 39, with details limited in the cable message from Colonel Doylen.
A historical note states the individual was appointed by President Wilson to serve as the federal controller of coal prices, overseeing pricing during the wartime period. The assignment placed the person in a key national regulatory role addressing coal market controls.
New York opening sees mixed trading with rails ships and equipment down slightly while metals face pressure led by Anaconda Copper. Early losses broaden into late morning, then rally falters as industrials and copper dip, closing weak with Liberty bonds at 99.92 to 99.96 and a slate of prices listed for major firms.
An Atlantic port report claims a German submarine was destroyed with all hands by a British submarine after firing on a British trader en route to a British port. The trader's crew fled to lifeboats and witnessed the sinking by torpedo.
The Greek steamship Nea Elias of 3517 tons gross sailing from Baltimore May 20 with grain for Italy was sunk June 9 in the Mediterranean by a German submarine. Crew member William White said no lives were lost and the ship went down after crew abandoned to lifeboats. They were rescued by a French cruiser and landed at Saloniki.
Forty thousand exhibitors and buyers have entered the autumn fair in Leipsig with attendance high for wartime. Visitors largely come from Austria Hungary Bulgaria Turkey and neutral European nations. Exhibits show German light manufacturing continuing despite material shortages offset by substitutes. War time food products and textile substitutes draw notable interest. New metal compositions are used in lighting fixtures.
West Point N.Y. Aug 28 One hundred fifty two cadets of the class of 1918 will be graduated Thursday morning the second class sent to the army in five months following the 1917 class which graduated in April last. The 1918 class would normally graduate next June.
The Birmingham district miners strike has been averted through Secretary of Labor William B. Wilson. Most union demands, including recognition, have been indefinitely postponed, easing potential disruptions to the industrial situation.
An authorized commission of 20 Italian army officers headed by Captain Carlo Tappi arrived at an Atlantic port aboard a French steamship. The mission, reportedly to purchase aircraft, was not publicly discussed by Captain Tappi.
The Rotary Club in a Y M C A session discussed improving roads in Federal Point township based on a letter from W. W. Love. County Commissioner W. B. MacMillan urged focus on broader county road needs and warned against misallocating funds to neighboring counties.
Secretary McAdoo told the House Ways and Means Committee about the upcoming 11.54 billion dollar bond and certificate bill and the treasury request for an additional 2 billion dollar bond issue. Democratic Leader Kitchin said the new estimate may raise the year's available funds to about 21 billion dollars. The extra two billions is urged as a safety margin for emergencies.
Carson City Nevada August 28 The discovery of a new process for extracting oil from shale wins a pardon for A H Crane serving a burglary term. Parole board grants release to perfect the process and oversee an extraction plant. Federal expert says Crane’s method could be of incalculable value to the government.
Washington reports iron and steel workers per capita earnings rose 53 percent and woolen workers 45 percent over 2.5 years, while food prices climbed 42 percent from July 1914 to July 1917, indicating wage gains exceeded living costs.
Washington August 28 a petition signed by all Texas members of Congress asking withdrawal of all negro troops from Texas was presented at the White House by Senator Sheppard before President Wilson White House officials gave no hint of expected action A Baker department report says Houston is normal and the riot investigation by army officers proceeds rapidly Indications are that soldiers implicated in the outbreak which cost 17 lives will be tried by a military court.
In Washington in August 1898 Daniel Blumenthal an Alsatian former Reichstag member said Alsatians would bitterly oppose Chancellor Michaelis plan to create a federal duchy of Alsace Lor raine. He argued the proposal is not new and would be rejected by Alsatians and their Reichstag representatives.
A brief sun rise and set note showing a 6 42 time for sunrise or sunset with unclear surrounding details. The fragment lists times in a terse format without full context.
Water stage of the Cape Fear river at Fayetteville North Carolina stood at 3.6 feet at eight this morning yesterday, indicating a change from prior readings and signaling conditions for local navigation and flood risk assessments.
Kansas City August 28 Ap Catholic leader Whalen says three million Catholic men and women will show undeviating loyalty to the country in war. He estimates Catholics will make up 85 percent of the fighting forces and reports a federation membership of 2,000,000. Active work for spiritual and physical needs continues, with a Catholic Young Men's Christian Association formation announced.
Craney Island near Norfolk will become a National quarantine station. The Navy cement property is turned over to the U S Public Health Service which asks Congress for funds to build hospital facilities on the island. Norfolk has used the island for contagious disease care, mainly smallpox, for ten years. Dr Powhatan S Schenck says the Public Health Service will take over care of cases after the station is established.
A sample ad proclaims a cure for catarrh through constitutional treatment. Hall's Catarrh Medicine is taken internally to destroy the disease's foundation, strengthen the patient, and support recovery. The owners offer $100 for any case it fails to cure and invite readers to request testimonials.
Thomas K Woody of Wilmington writes Edward Sandlin of Sandlin's Dead Shot Co praising a piano polish. He claims seven years in the piano business and thirty minutes to clean an old piano, versus days before. He says the polish produces a factory fresh surface and asks to be allowed to recommend it widely.
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