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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
May 24, 1917
Page
3
New York May 24 The cotton market was nervous with late yesterday’s sharp rejection causing some liquidation. Opening was 30 points lower for nearby and 6 to 11 points under last night’s close for other months. Declines were absorbed as bulls renewed, July and October slipping only modestly, and close shown steady with mixed intraday levels. Spot cotton middling price fixed at 21.00.
Market report lists eggs and butter with per dozen and per pound pricing. Also shows prices for chicken beef oranges lemons apples pork cabbage hides wool corn and other items with ranges and averages. Economic notes indicate Florida cabbage and California oranges among items traded at local markets.
In New Orleans the cotton market dipped early as buying dried up on poor cables and recent sales. Warmer bids and lower temperatures later attracted support, closing with May July October December and January futures all stronger than opening, May near 20.50, July around 20.70, with gains of 15 to 18 points.
New Orleans May 24 spot cotton holds steady with measured sales of 2 583 to arrive 483. Prices range from good ordinary 19.37 to strict good middling 20.56 and middling 19.15 to 20.93 with receipts totaling 1 238 and stocks 253 363.
Liverpool cotton markets show steady demand with good middling at 13.95 and 13.54 for low middling. Sales reach 10,000 bales, 9,800 American, imports include 4,900 American. Futures close irregular with May at 13.22 and later spreads reflecting unsettled trading.
Liverpool reports weekly cotton statistics with totals for forwardings, stocks, imports and exports. American cotton figures are highlighted within the broader market data across 51 000 bales sent to mills and 541 000 bales in stock.
The seed oil market closed firm with bids across months. Futures activity shows May at 16.50, June 16.40 to 16.75, July 16.51 to 16.54, August 15.50 to 16.53, September 16.50 to 16.52, October 16.45 to 16.46, November 16.20 to 16.21, December 16.16 to 16.19, and spot near 16.30.
Chicago markets report Butter higher at 35 to 39 ½ cents with Creamery. Eggs lower after 26 512 cases receipts. Firsts 34 to 35 cents, Ordinary firsts 32 to 35. Potatoes steady with new receipts 10 cars. Regional prices listed for Florida Alabama Texas Louisiana Idaho Wisconsin Michigan and more. Poultry alive unchanged in trade.
New York sugar markets show nominal raw sugar 5.96 and molasses 5.08 as buyers cover ahead of June shipments. Fine granulated sugar runs 7.50 to 8.50 with steady to firmer tone. government discussions of coastwise vessel commandeering push buying. Noon quotes 4 to 8 points higher. close 4 to 8 points up. Sales total 18 500 tons for May and July 5.03 September 5.12.
New York May 24 stocks edged higher on renewed appetite for war stocks and equipment shares while industrials advanced. United States Steel neared a record high as rail and utility groups showed little change and various blue chips posted modest gains across the board.
Turpentine firm 42 reported receipts 470 and shipments 16 with stocks 9 978. Rosin firm receipts 1 713 shipments 200 and stocks 67 137. Market quotes show various grades ranged from 6.00 to 6.40 with multiple letter grades and spreads.
Bearish crop reports weighed on wheat with July at 2.25 and September at 2.00, a brief rally followed by more losses. Enlarged country offerings weakened corn as commission houses led selling. Oats fell due to favorable weather and July delivery holders sought to unload. Hog market weakness pressed provisions with continued lard selling.
Coffee Rio No 7 trades at 103 8 as futures quiet on New York trading floor. July 8.23 and September 8.32 prices appear for later contracts.
J Paul Spence supervisor of instruction in Norfolk public schools and ordained Baptist minister was sent to the corporation court on charges of housebreaking and larceny. Police say he was found leaving a house with $20 worth of plumbing fixtures he claimed to protect from theft by boys. He was released on bail.
Raleigh May 24 Governor Bickett today honored a requisition for James Reavis and Edgar Gill both negroes of Henderson North Carolina wanted in Atlantic City New Jersey in connection with the disappearance of a diamond pendant valued at about eight thousand dollars The pendant containing fifty diamonds with stones of thirteen and twelve carats was recovered by Henderson police when the men were arrested there.
Bridgeport hosts the Connecticut Federation of Women's Clubs for its annual convention with war service as the leading topic. Delegates from New Haven, Hartford, Waterbury and other cities arrive to participate this week.
The National Association of Retail Grocers voted to hold its next convention in Washington. Washington won the bid with 71 votes to 67 for Atlanta, as announced May 24.
Wake Forest College opened its 82nd commencement with a baccalaureate address by President William Poteat and a sermon by Rev. A D McMurray of Brooklyn. McMurray urged love and sympathy as the true touchstone for world problems and noted education alone cannot solve them. Medals were presented and Dr Henry Churchill King of Oberlin College gave the literary address. Afternoon festivities include the 1907 reunion and Senior class exercises, with alumni address tonight by Rev M L Kesler and a senior reception.
The Two Sefore Recorder reports a colored boy named Thomas Williams arraigned for larceny of four Belgian rabbits and a separate automobile violation case against Edward Massey, both left open.
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