New York Spot Cotton Prices Quiet at Middling 24.60
New York spots report on July 30 shows spot cotton quiet with middling grade priced at 24.60 cents per pound.
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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Jul 30, 1917
Page
3
New York spots report on July 30 shows spot cotton quiet with middling grade priced at 24.60 cents per pound.
War shares and equipment stocks formed the bulk of today’s early dealings. Major issues showed gains from fractions to a point. Steels Baldwin Locomotive Industrial Alcohol and Ohio Gas were most active while shipping and motors were irregular or reactionary. Rails and coppers remained sluggish.
New York cotton futures rose at the opening as favorable weather and crop news supported prices. October touched 23.65 on the Call and 23.78 later, while January slipped to about 23.35 then recovered. Trading cooled midmorning with October around 23.79 and January near 23.48. closes showed gains of 19 to 22 points.
The New Orleans cotton market opened with prices rising 9 to 11 points due to dry weather in Texas. Trading waned briefly before paring gains, then rebounded near midday to levels just below Saturday’s close amid forecasts of continued dryness. Spot cotton was quiet with 495 bales sold and prices listed from good ordinary to strict good middling.
Spirits 36 1 4, Rosin 4 1 2 cents per cwt, Tar 3 4 cents, Crude 3 1 2 to 3 1 2 dollars. Market figures show varied bids with unit values listed for naval stores products.
Savannah dated July 30 reports turpentine firm at 37 1/4 with 542 receipts and 171 sales. rosin firm with 1 401 receipts and 89 shipments, stocks 83 250. Price quotes for various grades range from 5.05 to 6.75 with multiple letter grades and ranges.
Chicago July 30 bearish sentiment in corn as switchmen strike settled and German talks renew. Early gains faded with rains in the Dakotas and Minnesota easing crop fears, wheat slipping after opening higher, oats and corn easing, provisions down on resumed switchmen work.
The cotton seed oil market closed firm with spot at 13.80 and futures quoted across August through March. Totals show 17,200 barrels sold as bids ranged from 13.80 to 14.03.
New York July 30 Butter Fattened receipts 8627. Creamery and extras prices range 39 3 4 to 40 1 2 with some 92 score 39 1 2. Eggs receipts 6314 irregular with extras 38 to 39, extra firsts 36 to 37 12, firsts 33 to 35. Cheese firm with receipts 2158, whole milk flats 21 24 to 22 1 4. Dressed poultry prices show chicken 19 to 26, fowls 15 to 25, turkeys 18 to 32.
Raw sugar prices held steady in New York with firm refined grades and various forms listed. Futures at noon were 1 to 6 points higher, with 6,000 tons traded. activity closed unchanged to 4 points higher at 12,000 tons. September 5.82, December 5.45, January 5.07.
Stage meat IRE Fear river at Tavetteril at a.m. a day, 16.1 feet.
The article debates wartime funding to win the conflict, estimating up to 20 billion dollars in outlays for the current year and 1919. It discusses sources including taxes and bonds, the role of loans to allies, and the fiscal plan from the Treasury while stressing efficiency and minimal waste. It notes potential additions for Shipping Board and aviation fleet as essential to hasten victory.
King George VI accompanied by Queen Elizabeth Princess Mary and Field Marshal the Duke of Connaught visited the American camp at Bordon near Aldershot. They inspected the engineers under Col Charles H McKinsley and viewed soldiers at close range as censorship allowed publication of camp pictures.
Councilman L. M. Bunting in charge of Streets and Wharves announces repair work on the Greenfield bridge. A temporary bridge has been erected across the Tidewater trestle and drivers are urged to slow down while crossing.
An unusually large crowd on the beach attracted attention as a turtle emerged to deposit eggs, and was anchored by the aforementioned young men.
Liverpool July 30 spot cotton in fair demand trades 20 points lower with American grades weak. Prices listed for American middling 19.63 good middling 19.25 middling 18.95 low middling 18.50 good ordinary 17.55 ordinary 17.05. Sales 3 000 bales, receipts 100 bales all American. Futures quoted 20 points lower with fixed price series July August 17.60 September October 16.97 October November 16.59 December January 16.00 January February 15.90 March April 15.56 May June 15.56.
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