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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Jul 12, 1917
Page
3
Spot prices seen at 95.63 for a grade with weak demand while new weather reports temper selling in the southwest. July futures jump then retreat as Texas forecasts show little rain. October and December trade unevenly before noon with overall quiet, closing irregular. Wilmington naval stores prices listed for spirits rosin tar and crude.
New York spot cotton markets reported quiet trading with middling cotton at 26.75 cents per pound. The market showed little movement as traders waited for further data and export demand signals.
Lack of rain in the western belt especially Texas and warmer weather spurred buying in cotton today in New Orleans. Prices advanced 17 to 25 points after an initial 1 to 8 point break, with active months up 1 to 1 1/2 points at the end of the first half hour.
Spot cotton in New Orleans remains steady with sales totaling 1 745 and arrivals 800. Prices shown include good ordinary 24 54 and strict good ordinary 25 00 with middling 25 88 and strict middling 24 07. receipts 1 400 and stock 192 167.
Liverpool cotton market reports a 25 cent drop in spot prices with American middling at 19.68 and sales of 2 000 bales, including 1 900 American. Receipts total 3 000 bales, all American, with futures 25 points lower across various delivery months. The note states prices above are fixed.
The cotton seed oil market in New York on July 12 closed steady with bids across several months. January 14.75 to 15.78, February 15.80, July 15.10, August 15.12 to 15.16, September 15.08 to 15.10, October 15.03 to 15.04, November 14.80 to 14.83, December 14.77.
Raw sugar values edged higher in New York as “Verlag” influenced early trade with a firmer opening. By noon futures showed about six points gains, closing steady with increases of 7 points. Notable sales reached 16,250 tons for September, with prices listed for December January and March.
Savannah notes for July 12 show turpentine firm 33 with receipts 53 ship ments 207 and stocks 24130, Rosin firm receipts 2299 shipments 5 stock 74946, plus price quotes B through WG and WW ranges from 5.00 to 6.65.
Chicago brokers react to a maximum price directive for new crop corn, with sharp early declines of up to 1 to 2 cents and mixed movements in wheat and oats. In New York trading, Wilson’s profits statement triggers a stock market dip, led by drops in steel and war shares, before selective recoveries later in the session.
New York July 12 Report shows butter steady with receipts of 10 604 and creamery prices about 39 1 2 to 40 1 2 for extras while eggs stay steady amid 21 509 receipts. fresh gathered extras 37 to 38 and firsts 33 1 2 to 34 1 2. Cheese declines with state fresh specials 24 to 24 1 4 and average run 23 1 2 to 23 3 4. Live poultry firm with broilers 33 to 34 and fowls 22. turkeys 16. dressed demand dull. chickens 18 to 26, fowls 17 to 25, turkeys 18 to 32.
Waters stage in the Cape Fear River at Fayetteville North Carolina at 8 a m yesterday was not reported due to unavailable data leaving the forecast incomplete for the period.
New York reports coffee riots with futures firming for September at 7.90 and December at 8.02, amid July market activity. The bulletin notes a riot context and price levels 91 8 for the session.
Norlina July 12 G B Crew Seaboard Air Line agent took his own life yesterday afternoon shortly after 6 with a 25 caliber automatic pistol. The cause is not stated though despondency is suspected. He is survived by his wife and one child.
AP reports the ship Kansan carrying 50 crew members, flour and 4,000 tons of steel worth about 2 million, sank presumably off the French coast on July 9. The vessel, formerly the Massachusetts and built in Camden in 1903, had a varied wartime history including mine strikes and U-boat encounters.
Washington dispatches late yesterday say the American steamer Kansas was destroyed by a German submarine. Four crew members are missing though all armed guards are safe. Missing are First Assistant Engineer J. M. Murphy American F Aguirre English A P Kua Honolulu and C Hanan Singapore.
President Wilson urged coal operators and manufacturers to set aside self interest and aid the nation. He warned against profiteering while promising fair prices from government and public support for patriotic cooperation guiding wartime price policy.
Directors fixed a maximum price of 1.28 for the December and May 1918 corn deliveries. No action was taken on September corn.
Kozlowski a Russian Pole is arrested at Esparto near Woodland California and held by local police as a suspect in the Mare Island navy yard explosion that occurred Monday.
The North Carolina Good Roads Association wrapped up its 1917 convention in Asheville. H. B. Warner was reelected president. Dr. Joseph Hydé Pratt secretary treasurer. new officers include Beneham Cameron Julian Carr and R P Cabe among others. The executive committee will pick the next meeting site with Kinston Greensboro Wrightsville Beach among applicants. Silver trophies honored Mayor E V Webb Pitt County officials and J C Askey Jr for travel. Resolutions urged use of able bodied convicts on state roads and urged funding for the State Highway Commission.
The North Carolina Cotton Manufacturers Association calls a Raleigh meeting of state business representatives on July 26 to discuss the war revenue bill before Congress and explore relief strategies against objectionable provisions.
Coroner A. S. Holden and Deputy Sheriff A. L. Kelly were called to the Belt Line tracks at Carolina Metal Products to examine M. D. Mitchell. The 27 year old man died of heart trouble while aiding others load a car of sand. Mitchell resided with Alonzo Mitchell and was originally from Charleston, South Carolina.
The House of Representatives began daily recesses after clearing its calendar. No session today, but a brief meeting is planned for tomorrow and a session on Saturday pending Senate action.
District Attorney Swank released further details of Alfred Cocchi s confession in which Ruth Cruger rejected a pledge to remain silent about the attack. The disclosure adds context to the murder case and Cocchi s admissions.
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