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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Mar 16, 1917
Page
3
The cotton market opened steady with May around 18 cents and October near 16.75 as railroad-supply hopes sparked brief rally. Prices eased by midday with May around 17.7 to 18 cents and October about 16.86 as buyers held back while brokers offered limited support. Local markets list varied prices for produce and staples, including chickens, potatoes, and citrus, with Wilmington naval stores quoted and receipts noted.
New York spot market reports quiet trading with middling cotton priced at 18.00 cents per pound. Trade activity remains subdued as merchants await further market cues and potential shifts in demand.
In New Orleans on March 16 a sharp early drop in cotton prices gave way to a partial rebound before noon. By late morning prices remained below the previous day, with a net loss of 2 to 5 points at noon and a 6 to 12 point under yesterday's finals in afternoon trading. The session ended steady with an overall decline of 5 to 14 points as railroad labor tensions limited activity.
New Orleans market note shows spot cot steady with 1 624 bales sold for delivery. Prices listed include fed ordinary 1613 and strict good ordinary 1663 with high and low middling values up to 1825. Receipts 4120 and stock at 421254.
Savannah notes turpentine and rosin activity with figures for sales receipts shipments and stocks. Turpentine firm sales and rosin dulls shown with totals including 12 734 turpentine stocks and 80 035 rosin stocks. Various price quotes listed as B D BE F and G 600 HI KMN W G and WW 620.
Kansas City hogs 5,000 receipts higher bids 14.35 to 14.90. cattle 600 receipts steady with prime fed steers 11.75 to 12.25. stockers and calves mixed. St Louis hogs 7,000 receipts higher, bids 14.40 to 15.00. cattle steady with native beef 10.50 to 11.75. sheep lambs 13.00 to 14.90. Chicago hogs 19,000 receipts slow with bulk 14.65 to 14.95. cattle weak 9.00 to 12.60. sheep steady 11.00 to 14.85.
Chicago notes March 16 with butter unchanged and eggs higher as receipts total 5 616 cases. Firsts 27 3 4 to 28, ordinary firsts 26 3 4 to 27 1 2. Potatoes higher with 25 carloads. regional egg and poultry prices listed for Wisconsin Michigan Idaho Oregon Colorado and Washington. Kansas City report shows butter 42 for creamery, eggs firsts 27 1 2. Poultry prices rise with fowls 23 1 2, hens 20 12, roosters 15, turkeys 25.
Cotton spot prices list good middling at 12.18 with 4,000 bales sold and 20,000 receipts. Futures for March-April and May-June are quoted with mixed notes and ongoing closing prices. cotton seed market in New York shows a strong finish with spot at 40.68 and varied futures bids. total sales reach 20,300.
Stocks opened irregular but mainly higher as traders weighed a looming nationwide railway strike and foreign developments. Leaders like United States Steel Utah Copper and Marine preferred gained, while Ohio Gas rose about 3 points. The session turned mixed with a few specialties active and notable moves in General Motors and Virginia Coal and Iron, as rail strike prospects and Wilson mediation hopes influenced sentiment.
Stockton Heth Jr. died days after being fatally shot at the Blacksburg home of Professor Charles E. Vawter. His body is held by an undertaker in Roanoke awaiting his father’s arrival from California. Funeral is expected in Radford, likely Sunday, with autopsy results pending.
Mercantile paper quoted at 4 1 4 percent with 60 day bills at 471 and 90 day bills at 4703 4. Demand rates for francs marks and kronen shown with cables. Government and rail road bonds listed as steady and time loans steady with call money high at 21 4.
The United States seeks rights for armed American merchantmen to enter European neutral ports. Danish officials have not responded yet, while Sweden and Norway reportedly back the use of their ports. Holland may extend its ban to armed American vessels.
Havana reports government troops under Colonel Sanguily disembarking at Santiago to take possession of the city. American blue jackets and marines concentrate supplies on the wharves at 11 o clock in readiness to embark on their war vessels.
Liverpool March 16 weekly cotton statistics show 76 000 bales forwarded to mills with 62 000 American. Stocks total 785 000, American 682 000. Imports 89 000, American 68 000. Exports 5 000.
Former President William Howard Taft outlines a Paul Revere style tour through the South and West to promote preparedness. He will speak in Richmond Greensboro Atlanta Birmingham Nashville Memphis Little Rock Dallas Oklahoma City and Chicago before returning to New Haven. He supports compulsory military training as the nation moves toward possible hostilities.
The readable OCR lists figures for assets liabilities and equity including capital stock, undivided profits, dividends, bills payable deposits and customer acceptance. The numbers include totals around 2.7 to 2.8 million with liabilities and deposits noted. The text appears as a partial financial statement segment with incomplete entries.
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