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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
May 08, 1917
Page
3
The New York cotton market opened unsettled and steady to firmer, with July and October futures showing gains before some profit taking. Prices closed mixed as rumors and selling pressure limited gains, ending around 19 cents for nearby months and lower for later contracts.
The New York spot market on May 8 reported quiet trading for middling cotton at 1999 cents per pound. Traders noted stable demand and little price movement with the day closing without notable changes.
Cold weather along the belt spurred moderate buying at the opening of the New Orleans cotton market. Prices rose 10 to 15 points early, with short contracts liquidating and the front months showing gains of 3 to 6d at midmorning. By 1:30 traders reported 19 to 21 points net advances, and the close was very steady with gains of 22 to 27 points across the listed futures. May through January contracts all posted higher settles.
New Orleans on May 8 reports spot cotton quiet and unchanged. Sales on the spot 261 with none arriving. Quoted values: good ordinary 18.12, strict good ordinary 18.62, low middling 19.12, strict low middling 19.21, middling 19.50, strict middling 19.69, good middling 19.87, strict good middling 20.05. Receipts 6,835. stock 172,088.
Liverpool notices steady spot cotton with middling at 12.83 to 12.97 and 8,000 sales including 1,000 for speculation and export. Receipts reach 9,000 while futures hold steady with May at 12.39 and later months easing to 11.58 by January February.
The cotton seed oil market in New York closes steady with spot quotes from 16.05 to 16.35 and near month prices ranging 16.12 to 16.25. Various months show narrow changes as traders note limited activity and total sales recorded.
New York May 8 coffee futures firm with No 7 Rio at 101.4. July at 8.30 and September at 8.45, outlining steady price levels for the next contracts.
Chicago May wheat rose to 98 cents with May and July futures strengthening to 2903 4 and 2999 respectively. Corn reached new high levels as oats followed the broader advance amid light trade and waning support.
Market activity opened cautiously on Wall Street and rose to momentum led by United States Steel and rails. Steel climbed to 116 1 8 with two point gain for Bethlehem. Canadian Pacific and Delaware & Hudson advanced two points. Shipping Motors and other majors gained about one point. Texas Company up over three points.
Turpentine holds steady with quotes for grades B through WW. prices range from 5.75 to 6.10. Rosin remains firm with prices listed for grades B to N and WG to WW. Shipments and receipts noted for the period, with stock levels for turpentine and rosin.
War mood rises in China as Berlin detains the Chinese Minister in Berlin and reports circulate of a forthcoming declaration of war. The scene shows a well trained Chinese infantryman in full equipment. the army is not large but thoroughly equipped and prepared for potential conflict.
The final bell saw utilities and rail and industrial shares slide. early leaders like American Can and U.S. Steel showed declines as the market finished on a soft note. Numerous rail and copper names traded lower amid broad selling pressure.
The May term of Superior Court for criminal cases finished quickly with a slim docket cleared on opening day and petty jurors discharged the same day. The grand jury remains in session amid ongoing consideration of Oscar Johnston’s possible involvement in Neal Walton’s incident. Judge Bond heard habeas corpus petitions. W A Odum Jr failed to gain possession of his four children Eva May Anna Estelle and Elza Odum, who stay with their grandfather Trodd and aunts.
More than 3,000 applications for the officers' reserve corps were received at Fort McPherson with many more expected. Applications postmarked by the deadline will be considered, but late entrants may be admitted only if exceptional and justified. Five hundred more applications are already in than can be accommodated.
Washington May 8 Herbert C Hoover urged the Senate Agriculture Committee to create a distinct food department and to establish absolute government control of key staples especially wheat and sugar.
Butter steady with receipts of 8 840. creamery extras 40 1-2 to 41. firsts 38 1-2 to 39 1-2. Eggs irregular with 32 515 receipts. fresh gathered extras 37 1-2. storage packed firsts 36 to 37. fresh gathered firsts 35 to 36. Cheese lasier 26 3-4 to 26 1-2. live poultry firmer with dressed chickens 25 to 31. fowls 20 1-2 to 26 1-4. turkeys 18 to 35.
New York May 8 raw sugar markets opened steady for centrifugal and refined grades with slight declines by noon as selling by Cu ban interests weighed on prices. May futures at 5.85, July 5.48, September 5.55, December 5.16 with 7,700 tons traded. closing irregular with 2 to 4 points losses.
In Mexico City the senate approved a bill granting President Carranza extraordinary financial authority after a lengthy session. Carranza had urged the measure and warned that without it he might appeal directly to the people.
Meadville Pennsylvania saw its first paper produced from straw and hay in 1828 marking an early step in the region's industrial history. The article notes the use of agricultural fiber before traditional pulp materials became common.
The report notes Germany as considerably smaller in total area than the State of Texas, reflecting a comparison of national size to a US state. It underscores Germany's land extent relative to Texas without detailing precise figures.
The Wilmington Rotary Club plans to register county men for the selective draft without pay and supports establishing a cottage at Jackson Training School for delinquent boys with state funding. Rotarian Galvin notes tin can shortages but says manufacturers will supply cans at high prices and will lobby Washington for relief.
In Christiansburg Virginia on May 8 the trial of Prof Charles E Vawter began after lengthy pretrial conferences The Commonwealths attorney R I Roop opened with a strong attack on Vawters alleged bargaining in a May letter and suggested blackmail in an undated copy The prosecutor depicted the Vawter home scene with vivid dramatic language as he argued for the defendants guilt
Sofia reports artillery fighting along the Macedonian front with west of the Vardar enemy infantry attempting an attack toward Alchak Mah south of Gieveli. They were repulsed by barrage fire after heavy artillery preparation.
Brunswick county commissioners voted to appropriate funds to employ a Farm Demonstration Agent, reviving a program halted after the previous agent resigned. A countywide campaign, 14 meetings, and district organization aim to boost home food production, with data showing Brunswick’s per capita rural wealth and deficit in dairy and feed, alongside a broader piece arguing against woman suffrage.
Secretary Lansing announced further restrictions on information to the public reinforcing a gag order at the State Department. He said any official who criticized the department’s policies by releasing information to newspapers would be dismissed. Information to the public would be limited to him and the new bureau of foreign intelligence.
The Winter Palace in Petrograd is described as capable of housing six thousand people.
By Mrs. John Balch, President, the Women’s Anti-Suffrage Association of Massachusetts announces the formation of a state chapter aimed at opposing women’s suffrage, outlining goals and leadership.
Swamp Root stops serious backache and urinary discomfort. Dr Kilmer’s Swamp Root marketed as a physician’s prescription for kidney and bladder diseases. Available at druggists 50c and 1.00. sample by mail for ten cents from Kilmer Co. Wilmington notice reference.
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