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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
May 25, 1918
Page
7
New York stocks opened under pressure amid tax policy delays with virtually all active issues down 1 to 2 points. Rail shares fell modestly before a planned rate increase by federal authorities. Liberty bonds quoted near steady after a volatile session with about 460000 shares traded. Cotton opened irregular then firm as July and October contracts rose within the hour.
Cotton prices advanced 35 to 50 points in early trading in New Orleans as contract trading intervention loomed from Washington. Brokers expect potential impact on contract prices, while larger mill takings supported the market and prices closed very steady from 14 to 57 points up. Highs and lows noted for July October December and January futures.
Spot cotton in New Orleans unchanged with 1,412 bales sold on the spot. Totals show arrivals at 142 bales and price marks for low middling 26.25, middling 28.75, and good middling 30.0.
The cotton seed oil market closed quiet in New York. July and August prices held at 20.00 per barrel with total sales reaching 100 barrels.
The New York spot market reports cotton steady on May 25 with middling grade at 28.50. The market shows stable prices as traders monitor global demand and supply signals.
Mercantile paper four and six months quoted at 6 percent. Sterling 60 day bills bid at 4.723 to 4. Mendes, commercial 60 day bills on banks at 4.72, commercial 60 day bills at 4.713 to 4. A demand price at 4.751 to 2, cables at 4.767 to 16. Bar silver fixed at 99 1-2.
The New York Clearing House reports banks and trust companies hold 41,963,640 in excess reserves, down 4,235,300 from last week.
French troops repulsed two German raids south of Hangard wood and in the Voges. French detachments penetrated the German lines west of Noyod and returned with prisoners.
New York May 25 The stock market shows a renewed hopeful tone amid cautious activity in banking and industry. Leaders posted moderate gains and later recovered. steels and related equipment surged 3 to 10 points, while iron and copper stocks faced tentative moves as war board rules loomed. Shipping shares rose on speculative outlook but wavered on Mercantile Marine deal delays.
Weekend covering by shorts lifted Chicago corn prices as government alcohol orders spurred demand. Opening quotes rose 5-80 to 11-80 with July at 1.41 1-2 to 1.42, oats followed, and pork-led gains added to the advance before a late sag.
Graham and Burlington have approved seven cents city fare and four cents extra for travel between the two cities, totaling 14 cents. The move follows local opposition to Tidewater company rate hikes and highlights regional rate-raising efforts.
Washington May 25 forecast fair weather and near normal temperatures for the southeastern states for the week starting Monday. The rest of the note hints at caution about keeping plans flexible and avoiding premature schemes.
Fair tonight and Sunday with little temperature change. Gentle to moderate south winds. Cape Fear river stage at Fayetteville rose to 6.1 feet at 8 am yesterday. Sunrise 6:14, sunset 8:14. Weather Bureau reports.
The article details a German scheme to arm Irish rebels via a messenger in Ireland. It cites von Bernstorff sending a code for use with rebels and a submarine entry into Dublin bay. It notes von Jagow approving arms delivery and a nightly code word for the German wireless press service. Urgent messages from America to Berlin sought Easter delivery and coordinated attacks on England between April 24 and 26.
In France, Lt Edward Rickenbacher confirmed to have shot down a German biplane near Thiacourt on May 22 at 5500 meters altitude. He and a fellow pilot tangled with two enemy planes, the targeted machine diving in a nose over tail spin after Rickenbacher fired at close range. The crash was officially confirmed.
Paris reports that American forces in France will be doubled by midsummer and reach three times larger by year end 1918. Secretary of War Baker announced over 600,000 American troops already sent to France, amid statements by French high commissioner Andre Tardieu on arrival from the United States.
Rev. E. R. Welch of Norman Oklahoma, a former pastor of Trinity Methodist, will lecture to the Brotherhood Bible class of the First Presbyterian Church tomorrow at 10 o'clock. All are invited.
At the point of his departure for the shipyard Joe Jackson had totaled 369 hits in 17 games for the White Sox, showcasing a hot stretch before his service.
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