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Newspaper
Wilmington Dispatch
Location
Wilmington, North Carolina, United States of America
Date
Oct 23, 1916
Page
3
The cotton market showed strength with all active months at season highs. Opened firm advancing 28 to 32 points, January at 18.85 and May at 19.06, over 60 points above last week’s low, then trimmed losses after the call as prices moved off several points.
Local markets report a strong Liver pool driven rise in today’s cotton, with traders optimistic that prices may reach 25 cents in coming months. Analysts caution prudence on long positions as sentiment and large operators drive apparent demand and higher prices. Two deeds filed in the register of deeds detail property transfers including a Kreslar lot and an alley parcel. Major Lucas sells his former home at 308 South Front Street.
Stock dealings resume at high levels on opening with high records set by American Beet Cuban Cane Sugar and Central Leather. United States Steel gains a point as do American Car Pressed Steel Car Westinghouse International Paper and Inspiration Copper. Wabash Chesapeake & Ohio and Rock Island lead rail inquiries and other metal issues rise. An odd ad-lib line about a husband and money appears in the Exchange column.
Naval stores prices show Spirits at Savannah 45 and 44, Rosin at Wilmington $6.30 and r $5.60 and $5.35. Tar at $2.60 with 10 1/2 cents, Crude listed between $4 and $3 in the latest market report.
Charlotte October 23 spot cotton rose with only 17 bales offered by farmers at 18 1 2 cents. A year ago 101 bales sold at 12 1 4 cents. Seed sold at 80 cents. Spot cotton prices mark a fifty year record trend.
New Bern reports from Morehead City say a fire last night heavily damaged the home of Mr. Duffy Wade. Insurance records agent Miss Mary Bryan heads there to inspect the damage. A busy shopping day drew large crowds as Craven and surrounding counties spent cotton and tobacco proceeds. Lina Sutton urges car operators to keep fares to fifteen cents during the Eastern Carolina Fair week. A shuttle train from Norfolk Southern is planned to run to the fairgrounds at a modest cost.
Rain and northeast winds forecast by the local Weather Bureau with stormy conditions off the coast tonight or tomorrow morning. Storm warnings posted this morning indicate a storm slightly off the coast.
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