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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
May 23, 1917
Page
3
Market review covers Wilmington and New York spot cotton quotes with May 23 trading notes. Reports show July and October futures around 21.00 to 21.10, with prices fluctuating and nerves evident. Spot New York ready status set at middling 21.55, reflecting mixed demand and daily shifts.
Good cables and cold belt weather spurred early buying in New Orleans cotton, lifting prices 15 to 18 points. Reports of damaged cotton being cleared for food crops and government weekly crop data pushing bulls led to a late session rally with active months up 22 to 33 points toward noon before settling higher.
New Orleans on May 23 reports spot cotton sales totaling 3,858 to arrive. Price levels list good ordinary at 19.37, strict good ordinary 19.87, low middling 20.37, strict low middling 20.56, middling 20.75, strict middling 20.94, good middling 21.12, strict good middling 21.90. Receipts total 1,011 with stock at 252,060.
Liverpool cotton futures closed firm as demand rose for cotton spur. Prices for good middling and middling ranged around 13.40 to 13.65 with May at 13.31 and next spreads for May-June 13.23. Totals showed 12,000 bales traded, 11,300 American and 1,900 for speculation and export, receipts 100 bales all American.
Stocks rise at the start with United States Steel contributing a sharp advance to new yearly highs. Broad gains sweep through major issues as investors push prices higher amid steady volume and renewed demand.
Turpentine firm sales receipts shipments and stocks reported with 422 receipts 866 shipments and 9524 stocks. Rosin firm figures show 1841 receipts 4749 shipments and 65624 stocks. Bid quotes range from 6.00 to 6.40 for various grades IT WG WW and others.
Spirits steady with no activity. Rosin offered at 5.25 and 5.45. Tar priced at 3.40 and 15 12 cents. Crude market quiet with no trading.
New York May 23 raw sugar declines as Cuban houses push selling in response to a looser spot market and more liberal Cuban offerings. Futures close easy about 13 points lower with May at 4.91, July 4.99, September 5.07. Sales 20 500 tests.
New York market notes show butter receipts 11 249 tubs with creamery grade up to 41 1 2 cents. Eggs receipts 24 343 cases with fresh gathered extras around 38 1 2 to 39 cents. Cheese unsettled at 26 to 26 1 4 cents. Poultry live prices weak with dressed trades quiet. chickens 20 to 23 1 2 cents, fowls 19 1 2 to 25, turkeys 18 to ?.
Mercantile paper ranges 4 3 4 to 5. Sterling bills 60 days 4.72. Demand dollars 4.75 1 2. Cables 4.76 7 16. Francs demand 5.73 1 4. Guilder rates 41 1 4 to 41 3 8. Rubles demand 27 1 2. Bar silver 74 5 8. Mexican dollars 58 1 8. Government bonds firm. Time loans steady 60 days 4 1 4 to 4 1 2. Ninety days 4 1 4 to 4 1 2. Six months 4 1 2 to 4 3 4. Call money steady, high 2 1 2, low 2 1 4, ruling 2 1 2 1 2. Last loan 2 1 4. Closed 2 to 2 14.
New York May 23 Rio No 7 coffee at 103 8 futures steady as July holds 8 23 and September at 8 33 market notes steady pricing and near term outlook for grain and soft commodity markets.
Boston preparation for the General Assembly of the United Presbyterian Church is complete on May 23. The opening sermon will be delivered by the retiring moderator at First United Presbyterian Church tomorrow morning as delegates and visitors from across the country arrive for the assembly.
Severe hailstorm strikes Wilmington and surrounding areas with extensive glass damage to greenhouses and homes. Reports place hundreds of broken lights, shattered roofs, and ruined lilies, while crops in East Wilmington and Whiteville suffer near wipeout. Officials note unusually large hail and perilous conditions with ongoing investigations and forecasts for thunder showers.
The article notes ongoing consideration of allocating funds to secure a convention. Details remain limited with emphasis on potential financial commitments and projected impact on local plans.
Sunday service runs on a half hour cadence from 2 to 5 P M along Front and Princess streets and from 2 45 to 5 45 P M from Beach. The timetable notes Sundays only and that some routes supersede by a half schedule Sunday afternoons and do not run beyond Station No 3.
At Butte Montana on May 23 visitors arrive ahead of the Montana G A R encampment opening tomorrow. The gathering will include annual decisions of the State Woman's Relief Corps Ladies of the G A R Sons of Veterans and United Spanish War Veterans in addition to the Grand Army event.
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