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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
May 26, 1918
Page
7
New York trading opens with broad liquidations as revenue tax delays weigh on sentiment. Most active issues fall 1 to 2 points with rails catching a modest bid despite losses from short covering. closes steady with about 160000 shares traded. Liberty bonds move around 98 to 99 while first and second 4s around mid 94s and 97s respectively.
Savannah reports for turpentine firm 461-2 sales 168 receipts 96 shipments 38 stock 21988. Rosin firm sales 866 receipts 357 shipments 1336 stocks 91263. Price quotes list several grades from 7.70 to 8.50 with letters B D EB F G J K M N W G and W W referenced.
In New York on May 25 the cotton market opens irregular, first prices 20 points higher to 2 points lower. Near months show firmness while later deliveries fall on favorable weather and bearish crop data. July climbs to 24.20 and October to 23.32 before easing, closing firm with July around 24.45 and October near 23.42.
Cotton in New Orleans trades rise as contract trading talk from Washington looms and mills take more than expected, closing very steady with gains from 14 to 57 points. Prices for October and December show higher highs and steady closing values amid market optimism.
New Orleans May 25 Spot cotton steady and unchanged with sales totaling 1,412 bales for delivery. Prices on the spot exclude the 0.25 point adjustments showing 26.25 for low middling 28.75 for middling and 30.0 for good middling. Arrivals listed at 142 bales.
The cotton seed oil market ends quiet with July at 20.00 and August at 20.00. Total sales reach 100 barrels in New York trading on May 25.
New York reports on May 25 show cotton spot steady with middling grade at 28.50 cents per pound. The brief market note records no change in price for the day.
Mercantile paper four and six months at 6 percent. Sterling 60 day bills quoted 4.725 to 4. com mercial 60 day bills on banks at 4.72 and 4.713 to 4. Demand 4.761 to 2. Cables 4.767 to 16. Bar silver at 99 1-2.
New York reporting week shows banks and trust companies with a reserve 41,963,640 dollars above legal requirements. This figure is 4,235,900 dollars less than the prior week.
Weekend covering by shorts pushed corn prices higher in Chicago trading on May 25. Government alcohol orders reportedly spurred demand, with July futures around 1.41 to 1.42 and oats rising in sympathy. Pork-led strength lifted provisions as the market advanced before easing later.
Nine nine Cumberland county selectmen were sent to Camp Jackson by the exemption board at 12 15 p m for Columbia on a special train carrying men from eastern North Carolina. Col C W Broadfoot spoke at the Lafayette theatre as Red Cross girls pinned badges and refreshments were offered by Red Cross canteens and a citizens committee.
A. J. Hanley plans a new development marketed by James Owen Reilly Real Estate. Mr Reilly will personally supervise the project between the city limits and Sunset Park facing Carolina Beach boulevard. The site backs Greenfield Lake with graded streets and granite walks. Prices expected on pre war basis with easy payment options.
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