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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Oct 07, 1917
Page
10
Market Review from New York reports frost fears boosting cotton prices. Opening gains of 11 to 23 points on overnight covering as Eastern belt forecasts spurred buying. December touched 25.90 and January 25.72 with most active months up 46 to 73 points. close barely steady.
New York spots show middling cotton at 27.00, Wilmington spirits at 45 3 4, and varied naval stores prices. Chicago grain stalls after frost worries, with oats weak and exports aiding purchases, while stocks push lower on war shares and rails despite a broad list of major issuers and Liberty bonds near 99.70.
New Orleans trading today saw a buying wave as cold weather in the belt and anticipated frost in the east spurred activity. In the first hour months rose 44 to 48 points and the market closed steady 13 to 17 points higher, with a firm undertone evident.
Spot cotton in New Orleans stayed unchanged. Sales totaled 1,131 with 4,400 to arrive. Prices show middling at 25.63 cents per pound and good middling at 26.13, with examples including 25.00 for low middling.
The cotton seed oil market closed steady with spot at 17.75 and futures for October 41 745, December January 17.52, March 17.62, May 17.70. Total sales reached 26 800 barrels.
The New York Clearing House reports a substantial rise in clearing house bank activity for the period ending October 6, with total clearings totaling 6,977,480 dollars above the prior period. The report notes the increase reflects broader financial activity among member banks.
Mercantile paper prices and sterling rates are listed for New York on October 6. 60 day bills and commercial confirmations show modest movements with figures around 4.70 to 4.74 for on bank drafts and denoted bills. The fragment notes declines and gaps in quotation lines toward evening trading.
In Recorder's court, Buck Morriss, a white high school student, was tried on a reckless driving charge. The case was dismissed due to lack of evidence that the truck exceeded speed limits. The sole witness was a young injured Black boy who could not provide details. Hawkins, a second victim, remains in James Walker Memorial Hospital in serious condition. The second charge was postponed two weeks awaiting Hawkins testimony.
Paris October 6 Deputy Turmel was placed under arrest for questions surrounding a large sum of money found in his rooms in the Chamber of Deputies. The arrest marks the fifth in the Bonet Rouge case and Bolo Pasna, with officials denying details of the charge.
The Savannah market report lists figures for turpentine and rosin firms with sales, receipts, shipments, and stock totals. It also notes commodity quotes for several chemical and industrial shares and provides scattered prices for United States Steel Utah Copper United Fruit Westinghouse and other auxiliary items.
A quarrel over a coon dog in LaPine Alabama escalated to a shooting that killed Oliver Enzor and his son Q Enzor four men in total died and two were wounded. A posse sought a black man Alto Simmons linked to the dispute, but he remained at large as gunfire erupted on the Enzor porch.
Washington reports German submarine activity in the war zone is decreasing. The Bureau of War Risk Insurance reduced the Navy and cargo insurance rate from 6 1/2 to 5 per cent due to lower risk. Wilmington’s Liberty Loan quota is 9462,200 as citizens, banks, and merchants step up purchases to support the drive.
Indicted I W W members, including Walter T Nearr and Neff, face heavy bails of 320,000 each in Chicago court. Nearr, local treasurer of the I L W W W and Neff, acting secretary of the Marine Transport Workers, were listed in the decant indictments.
Fragmentary note states that making wine in any quantity requires government permission. It mentions the department's announcement and Uncle Sam’s control over wine production, with several garbled phrases implying a formal permit process remains essential.
Washington notes report the adjournment of Congress today as North Carolina members depart for home. Godwin remains to deliver several speeches before December’s session, focusing on defense of the war with Germany and urging Liberty bond purchases.
United Press reports Washington coal conference appealed to Fuel Administrator Garfield to raise prices for the public and permit wage advances. Garfield took the matter under advisement as the wage increases depend on his action. If he refuses to advance government mine prices the situation remains unsettled.
CAPTAIN HORACE COPPER COOPER, a Wilmington native and son of W B Cooper, has been promoted to captain in the Field Hospital unit. He is a 1916 graduate of the South Carolina Military Academy Charleston class and prior to U S entry was listed as a gent in the service now reassigned to European theater duties.
James and James Inc issues an important public notice about a half million loan plan and life insurance offerings. The statement signals new financial products and agency activity aimed at expanding customer services and securing funds.
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