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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Jan 17, 1918
Page
7
New York spot cotton quoted 31.80 middling as futures turned higher late in the session. Merchants reported heavy covering of shorts and fresh demand from the South with prices finishing near the day’s highs in a quiet market with limited naval stores activity and modest receipts.
New Orleans January 17 A government order holiday triggers a five to six dollar per bale drop as the market opens. Prices fall sharply in the first half hour amid heavy liquidation and selling for short accounts. The market closes with a net decline of 67 to 87 points.
New Orleans spot cotton quiet with sales on the spot 1432 bales. Prices quoted low mid landing 30.00, middling 31.25, good middling 32.00. Receipts 7,022, stock 116,030. Uptake for arrivals 519 bales.
The cotton seed oil market in New York closed quiet with spot bids at 25 and forward contracts for January 20.15 March 20.20 and May 20.30. No sales were reported.
Washington reports Brig Gen BH K Cole who led marines in Haiti is reassigned to command Paris Island station. He is succeeded in Haiti by Col J K Russell. The note places the transfer amid ongoing post conflict duties in the republic.
An early 20th century style advertisement urges women to preserve youth and avoid prejudice by using Qban Hair Color Restorer. It claims Qban restores natural hair color, does not stain scalp, washes out, or affect washing, and guarantees satisfaction with a 75 cent price and money back offer.
Chicago markets report strong receipts for hogs cattle and sheep on January 17 with ranges across categories. Hogs bulk 16.20 to 16.60 light 15.75 to 16.55 mixed 16.00 to 16.70 heavy 16.00 to 16.70 pigs 12.50 to 15.25 cattle native steers 8.35 to 13.60 stockers 6.90 to 10.90 cows 5.90 to 11.85 calves 8.50 to 15.75 sheep wethers 9.75 to 13.35 lambs 14.40 to 17.65.
Chicago and New York markets show mixed reactions as Fuel Administration limits suspend industrial activity. Corn and oats soften slightly on easing traffic impact expectations, while hogs push provisions higher. New York stock prices rebound after early losses with gains in rail, steel, and coal stocks, and Liberty bonds slide modestly.
Liverpool reports spot cotton slow with steady prices across grades led by good middling at 22.96 and middling 23.44. Sales reach 3,000 bales including 2,600 American while receipts total 5,000 bales with 900 American. New contracts show January 23.33 and May 22.39, while old fixed prices list January 21.99 and May-June 22.55.
In the prior week the admiralty logged 18 merchant ships of 1,600 tons or more lost to mines or submarines, three smaller merchants, and four fishing vessels. January 2 figures recorded 21 sinkings, eighteen of them 1,600 tons or over.
The Carolina Insurance Company held its annual meeting noting total capital surplus and reserve rising to 138 759 78 and premiums totaling 540 677 09 since founding. Losses paid 277 233 82 and dividends 86 707 70. Directors re elected include Sol Sternberger H L Wollers R A Parsley Clayton Queen Donald MacRae and others.
Stocks opened fractions to more than three points down on Fuel Administration fuel order fears. General Motors fell four points and United States Steel traded 89.5 to 90 as officials said the market would operate normally. Within half an hour losses were almost erased and a sharp rally followed, with some gains above prior close.
Fire at about 4 30 Thursday morning destroyed two small unoccupied frame houses at 15th and Ann streets. Alarm from box 61. Firefighters arrived too late to stop the blaze. Loss around 1200 dollars. One house owned by Wright Real Estate Co. the other by Dr E S Bullock. Cause unknown.
Mrs C L Taylor died Thursday morning at James Walker Memorial Hospital after a two week illness. The body will be taken to Fayetteville Friday for funeral services and interment, with a house service likely by Rev J M Wells. Survived by husband Charles L Taylor two children Charles and Florence and her father John Allen of Fayetteville. Sisters Mrs Eva Dodson Mrs Gaither Scott Mrs Alton Moffitt all of Fayetteville and Mrs George Osborne of New Haven Conn. Mrs Taylor belonged to First Presbyterian Church and was about 45 years old.
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