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THE ATLANTA GEORGIAN AND NEWS. SATURDAY, MAY 25, 1907.
15
AMERICAN WHEAT CROP
IN UNPROMISING CONDITION,
The recent rise In wheat prices elves
some promise of being maintained at a
higher level than has been the rule for
the greater part of the current crop year.
The grounds for this advance are tw<
fold. Firsts the unpromising condition i„
the American wheat crop, arising from lack
of progress within seasonal limits, rather
than from any final judgment as to the
crop outcome. Secondly, on account of the
more or less sudden development of Euro
pean demand which has apparently only
been discovered at the beginning of the
fourth qnartcr of this crop year.
Europe has been taking wheat freely,
while using up her own supplies, ever
since last harvest. Now that this has be
come evident, the American market It re
sponding to conditions, the appreciation of
which has probably been altogether too
alow for the good or tho market Since the
beginning of March wheat haa moved on a
much larger scale. On passage tor Europe
there has been a movement of an average
of little less than 60,000,000 bushels per
week. In the beginning of January the
quantity afloat was only about half that
amount, so that the great impulse to Euro
pean Importation from various parts of the
world catno In the later rather than the
earlier portion ef the current crop
Yet Europe has been unusually
drawing off American wheat ever since Au
gust, l'JOC. In that month. American ex
ports were three times as large os In Au
gust, 1906. and in but one month, Decem
ber, had tho total fallen below that of tho
corresponding months of any of the three
preceding years. For the first nine months
of this crop year Europe took 111.404.000
bushels, whereas the average for the twelve
months or the three preceding years was
only 70,000,000 bushels. Indicating that this
. year’s business for nlno months only in
American exports of wheat and flour main
ly to Europe were 46 per cent greater than
tho average for tho three full years be
fore.
Of European countries whlrti are spe
cially forehanded. Germany and Great Brit
ain arc noticeable. The large Argentine
shipments arc chargeable mainly to the Ger
man and British demands. Argentina's
weekly shipments are now twice what they
were last year. Her exports for two weeks
averaged 4,500,003 bushels against 2.264.000
for last week of May, 1906. In Germany
the market for home wheat supplies has
been pretty well exhausted, and It Is es
timated that there will have been Imported
between January and July, next, 30.000.000
bushels. For the United Kingdom, Broom-
hall estimated that Uj®. * a ? , °*
April imports were 840.000 bushels In ex
cess of net requirements, giving the country
a surplus stock of wbrat and flour not
mueh short of 20.000,000 bushels, compared
with 13.Wio.ono bushels in the corresponding
period of 1900.
The factors back of these conditions are
found In the rather discouraging European
crop outlook In which Russia and the lkinu-
Wan provinces nre tho least
Germany has suffered from winter killing.
In both notitli Russia nod tho Balkan ataten
tato seeding, lessoned aereaite on aecount
of c x renal v o ra I □, and political disturbance
have combined to prejudice tho outlook,
lint here, aa In tho Wtod Mates. warmer
weather Is likely to show that proopeet.
have struck bottom and are apt to Improve
with tho program of the rnihmer. The mar-
ket at Itadnpeat baa. however, /'enwarn-
lag which western Rurere follows and
America emphasires In ealatlng options.
There may he considerablei recession as the
season ndvances, boeauaethe spurtto 5“
the market la now keyed Is too suddeni to
he the product of well-lnfomed lenders.
Nevertheless aa a tentative eatlmate It U
not likely that wheat ralnea will aeo the
low level of tho Brat thro, <!“ r ** r * °J„
current yonr, nnlosa the weather athorne
and ahroad works wonders during tho next
ten weeka. This has happened before.
STANDARD OIL DISBURSED ^
$380/153,700 IN NINE YEARS
Tho directors of the Standard Oil Com
pany have declared a quarterly dividend of
19 per share, tha anmo amount that was
paldln tho corresponding quarter last year.
This compares with fttThreo months ago.
Tho Standard,Oil dividend la payable June
IS to atork of record May 20. _
The dividend record of the Standard Oil
Company from 14M to the present followa-
Amount
Disbursed.
J23.730.000
»2M,0»
amoM
35.280.000
43.123.000
44.100.000
47.040.000
47.040.000
22.340.000
a,400.000
Year. Dividend.
1907.. .. J94
1904 40
1906 40
1901 9*
1909 < 44
1M*. «
1901 46
1900
12W S
Total
Tho fallowing table show* the quarterly
dividends declared by the Standard Oil Com
pany from 1W2 to the Brat quarter In 1907 In-
Yaar. March. June. Sept Doe. Total.
1906 15 6 f » JJ
1902.. ..;..,.: 20 10 _ 6 10 4o
Aa ahown by the foregoing flgnrea, the
Standard Oil Company haa disbursed 6290.-
452,700 to shareholders over a period of nlae
and one-half years. By the does of IMS
year disbursements will have reached 64«.-
000,000, or four time* the outstanding capital
of the corporation.
FACTO RS AND GROWER8 LOST
MANY MILLIONS OF DOLLARS.
A special from Memphis «ay»: "f<J*
stated that cattail f»ctor» andgrowersin
the South lost between *16.000,000 and 62>.-
000,000 during the pant aenaon oo account of
shortage of can. m . . . .
••Most of this loss was gmj
of tho cotton to the element* hJMimgf
of cotton centers like Memphis while awilt-
ing Crnnaportatloo. Tby^rollny^d
the country over, especially «n.i
middle west. Is Named, pmuasds and
thousands Of Mlj» rf I »T?nSiSnrS
one place, after Nils at lad!BfJ*®*®lasted
consigning It to all part*
••All winter long cotton haa been unsnei
tcred In the streets. Bain, ball Mdwow
have fallen, 11 tentHy aoakln' 1
until It has rotted like a decayed apple.
Tho warehouse* were overcrowded.
••After the rush season this cotton has
been spilled out Ud allowed to dry The
very best that can be picked
not bring more than 1 cent per pound and
U low aa ft cent. That figures as low as
THE WEEK REVIEWED.
By JOSEPH B. LIVELY.
actual cotton <£ tnrrent season, any one had stated that
date fo£t£“SX? "mm!'*"* he would 1 " lvo tad no opposition as a candl-
whleh*thSr i ^i7.fi?Jf®L hold th4t °P ,n ' on - ■* wan evidenced by the rapidity with
Southern fvSim. c ! m around tho "bread and meat" Uno-lOc-flxcd by tho
•n,e ** .«"■!■«<* Price for the crop,
mum iv, Faraicra Union were apparently satisfied with tho mlnl-
Dart^wIth^h/ti^KfxSii 0 ^ ***** association, as is evidenced by their willingness to
par o»i5 Ul “ e A r b °Wings around that figure.
brInc?nr C «?/l ??* oJ - the hands of the fanner and good cotton Is
?SSderod cbiS? r ^ U CD ° U * h 10 t”**™ 8plnuubl ° gradc8 ‘
wtSO** • c ® nc, ***▼• witnessed In the cotton exchanges of the world the past
enUr ® control, and on no day has prices sagged only
caslnn^wi/i?^ £ crcd * reaction healthy for speculative purposes. On these oc-
”£wi°£ ,net ?® rc «nall and quickly recovered.
in<i wVin Si!?6. n ?^ a ^ da T during tho week. Fluctuation* have been rapid
JjJu m2? tendency^upward. Tho South has been lined up on tho buying
I>aw 9*9 JWgthi being favorites, the low condition of the growing crop
2$-iPf J certainty that much better prices would be obtained for It from start to
2™JS cSbSW": The W«tcrn operator, convinced that the crop Is serious!;
forces with the Southern operator, and together they have boost-
11,0 y®®** natural reactions occurring one or two days.
#K _ V 1 ,® * wo hurines* days of the week under review—Saturday and Monday—
Jg* *H arkct - wa " closed on account of tho Whitsuntide holidays. Satur-
wfZliS 08 f ? day of evening up aud light trading, was the busiest day In many
jnoojhs *na furnished excitement of all kinds, and for tho first hour presented
scenes not witnessed in a long time.
* J° • points higher. Tho bear* were veir timid, and under
the leadership of July prices from tho start began to climb, In a scml-panlcky
• “ ort time, July Belling up to 11.20 from 11.06 at tho opening. At top
prices Jo v longs rnahed to secure profits, the bears recovered from their fright
closed** 61100 foUowed ' wW ch carried July down to 10.X, recovering 2 points at the
u® w crop months kept pace with July, despite the fact that more favor
able weather waa reported from the S’outh, tho trade in October, December and
January being very heavy, and showing advances of 19 points for October and Do-
*6 points for January at the high point The break In July extended
Into the fall months, and cotton was thrown on the market from all quarter*, forc
ing October down 12 point*. December 23 points and January 21 points. There was
a somewhat better feeling at the close, which was barely steady on the old crops at
a decline of I to 9 oolnts and steady for tho new crop months at 6 to 11 points ad
vance, aa compared with Friday, May 17.
Monday was a nervons day. The American markets were still deprived of for-
elgn Influences,, at the Liverpool market was still observing the Whitsuntide holl-
dsys. Domestic Influences were construed as bearish. In that the weather wa*
still favorable and reports were being wired out that tho •‘bull leader” was ••short."
It is hardly probable, however, that the •'ball leader” is cutting aiiy great figure
In ahaplng the course of prices nt present—only doing the "clown In the ’circus”
stunt A speculative reaction was due, and apparently this combination brought It
about the market closing steady 2 to 10 point* lower than Saturday.
On Tuesday tho market waa decidedly active, the fluctuations bordering on the
sensational. The opening was 4 to 16 points lower on heavy selling, encouraged by
the "holl leaders.” The weekly weather report was issued at noon, but wda not
as bad as bad been expected, ana a decline followed Its publication. The close Toes-
day waa barely steady, 18 points lower on July, 15 down on October and 14 off for
December.
Wednesday’s market waa 1 to 4 points lower at tho opening. Initial prices prov
ing the lowest of the day. and working steadily upward the entire day. *Tbe
close was steady 14 to 21 polnti higher.
Thursday wa* high nay for the week. Business at tho opening was active with
E rices 8 to 17 point* higher. Liverpool set tho pace. Price* In that center were
uoyant. with manipulation all on the bull side. Thd Jdrcrpool close wa* fever
Isb, with futures 22ft to 23ft points ar* ‘ rr ‘ ,c ^
season. Heavy realising In the late i
from the high point, the close being at
On Friday Liverpool was again clc
ernlng prices. It was none too favoramc nnu »ot? opening w«* a vo o points mgucr.
Around the high point heavy selling orders made their appearance, and prices sold
down before the decline waa checked. Tho selling waa well absorbed, however, and
on a renewal of unfavorable weather In Mississippi prices turned upward, the
close being steady net unchanged to f points lower.
Aa a result of the week’s transaction* In New York, tho near months show de
clines of 6 to 7 points an compared with Friday, May 17, while the new crop months
clow 8 to 11 points higher.
In New Orleans the clow on Friday, May 24, ahows advances of 27 to 40 point*
as compared with the Friday previous.
NEW YORK.
NEW ORLEANS.
Ms, -----
Sate?-::—:
December .■
January
l *. 4 — l ».y< w
■■10.72 l&M-ll I
11.43 10.96 11.27
11.51 ll.M 11.36-27
11.64 11.15 11.47-41
11.03-tt
1L0G0G
11.19-10
11.*-*
11. SM
May™::: .v.:i5WjiiA4(ii«r ihmt
July 12J61L76 UL2244I1L9M11
October Ill.90[ll.36>11.77 111.5051
December J1LR7I11.SJ 11.74-75111.47-4*
[January .|u.*(lL» 1LT7-78 1L6051I
Spot cotton during the week has moved upward. Comparison with Friday, May
17, shows the following changes:
Liverpool
New York
New Orleans
Atlanta
May 17.
. 7.10
. 12.16
. 1113-16
. lift
May 24.
6.96
12 :t,
US
12.50 for 1 bale, and possibly as high as 65
pur bale.
"An on
more that _ _» ....
1< "lf*hss°b«'n estimated that more than
300.000 bales of ration hare been ruined here
this season. Those are recorded ss low
flenres. KlRurrd at 645 per hsle. It would
mess nearly 610,000,0M In cash raise whleh
farmers, factor*, and buyers bars loot Is
this district.
"Yet the outside world has hardly heard a
whimper from ths South this season. There
have been very few talluree In any dlrec-
11 "To avoid the possibility of another such
season, the railroads and steamship comps-
ales have ramldned with factors to build
Immense storage houses."
AMERICA'S SILK INDUSTRY.
The silk Isdsstry of the United States
now employs 79.010 operatives and la utlnf
6109,556.621 capital. A few years i(o the
United Stales did not hare any "silk Indus
try"
Productive Quality of Seeds.
The variance In the amount of seeds
produced to the acre by different plants
Is very great, aa some vegetables will
give 660 pounds to the acre, and oth
er* 6.000 or 6.000 pounds. A conserva
tive average Is 600 pounds to the acre. —.
Flowers run to the moat remarkable yield from smaller farms It Ib almost
have sufficient diversity of climate and
soil to grow In profusion any seed
which Is now Imported. Most of tho
seeds In the United States aro pro
duced In California, where, In tha
Santa Clara valley, there Is ono farm
alone containing 10,000 acres.
Thirty-five Kinds of Onions.
Some vegetables lend themselves to
variations more readily than others.
There are seventy-four varieties of lot.
tuce and thirty-live kinds of onions.
Beans, cabbage, com and tomatoes,
appear In the catalogues under twenty-
five or thirty different names. Mus
tard Is about the only vegetable that
has remained untouched by the am
bltlous seed-growers. Up to tho pres
ent time one kind of mustard has suf
ficed for all our needs.
Sweet Peas in Plenty.
Sweet peas have elghty-stx divisions,
and over 309 sub-divisions. In Cali
fornia, where almoat all tho flower
seeds are grown, one form of 600 acres
Is given up to the production of sweet
peas alone. The total production year
ly Is about 660,000 pounds, and even
when this amount is augmented by the
extremes In this yield. Sweet peas,
which seed more freely than any flow
er. sometimes produce 6,000 pounds to
the acre—a ton and a half of seeds.
The double petunia, which Is known to
seed growers os the "shyest seeder,
will sometimes fail to yield a pound to
the acre.
Progress in Seed Industry.
The last quarter of a century has
done more for the seed Industry In
America than all the prevloua years
of Its existence. In that time seed
growers have not only produced more
than-half tho seed used In this coun
try as compared with a much smaller
wru-ntw In former years, but they
have demonstrated the fact that weUmated at 62,000.
impossible to meet the demand. Sweet
peas are the moot popular Heft** <■
America for home gardens, except the
nasturtiums, and even these cannot al-
way compete with the sweet peas.
Had Collection of Cigars,
la a French country town s •trance and
peculiarly useless collection Is being put up
for sale, says The Ixsidon Telegraph. It
had taken the owner, an eeeeatrle count.
Just dead, years to get It together. lie
spent the greater pan of bis lifetime buy-
in- specimens of every known brand of
eigsr. Tha colleetioa. Jnmbartag thousands
of samples, all of whleh hnve long since
become uosmokabtc,-Is said to be veil-nigh
complete. The value of the collection Is es*
LUMBER PRICES INCREASE
100 PER CENT IN 10 YEARS.
Much complaint through the West
Southwest has been voiced against
what Is said to be tho exorbitant
prices of lumber. In Texas the attor
ney general reported to the house of
representatives thnt there existed In
that stato a lumber trust which was
responsible for remarkable advances In
prices.
A representative of the lumber trado.
In answering theso allegations, con
cedes that there has been an advance
In tho last ten years of os much ns
100 per cent In lumber prices. Ho
says that tho price of stumpage In
Northern plno has increased from 69
cents to 616 per 1,000 feet, and that
timber lands In the Southwest which
ten years ago would gladly have been
sold for 61 an acre, now bring from
610 to 625 for timber rights alone.
Tho extent to which these rights
have been secured may bo gathered
from the fact that In Texas, Louisiana
and Arkansas the holdings of 100,000,-
000 feet or more are almost entirely In
tho handB of operators, many of whom
after clearing out tho forests In tho
North, have possessed themselves of
theso tracts In tho South. Nor aro
they slow to turn them to account.
Ftfty-six mills have commenced oper
ations in nno county alone In Texas
within twelve months. In ten years
plno stumpage has advanced 900 per
cent, or from 60 cents to 65 per thou
sand.
There Is no doubt that tho yellow
pine mills havo made money rapidly
within tho lost five years. But It is
alleged that tho profits aro not so much
from manufacturing as from enhance
ment of the value of stumpage. Where
as It cost from 65 to 66 to make
lumber, exclusive of stumpage, In 1896,
today the corresponding cost Is 69 to
610, and with stumpage nt 65 the man
ufacturer Is said to be fortunate If ha
mokes a net gain of 63 per thousand
on hla output.
From another aource It Is held that
the prices of lumber, compared with
farm products, hardware and other
commodities, havo not advanced so
rapidly as lumber prices. For In
stance, tho farm products of the state
of Iowa In ten years are said to have
advanced 74 6-4 per cent, against 66 2-6
per cent for lumber. Dimension stock
has, howover, advanced as much as 86
per cent. Attention Is also called to
the conditions under which lumber Is
now marketed. Ten or more years ago
much of It was handled by water, on
rivers or lakes along whose shores It
was cut. Nowadays available tract* .
lie far Inland, and freight rate* have
advanced rapidly. In Cedar Rapids ter
ritory a 6 to 7 cent rate haa been
replaced by ono of 12 to 16 cents.
Whereas tho Northern pine region west
of the lakes supplied the central West
ten years ago, now much of the lum
ber has to be brought from the Pa
cific coast, on which a 66-cent rate Is
paid for shingles and a 60-cent rato
or fir and spruco lumber.
The facts aa to co-operation of the
members of the trade seem to be that
no combination of prices Is made; but
that expressions of opinion are ex
changed systematically and an official
price list Is printed and published.
Careful statistics are collected as to
the cut, the stocks, and tho number of
mills operating, so that at any time
tho relation of demand and supply
may bo approximately determined. Tho
enormous increase In tho demand for
lumber, tho contraction .of availablo
areas of timber supply and the longer
distances between forests and mar
kets bavo generally been the chief In
fluences In tho enormous Increase In
prices which is complained of. • Theso
changes havo given timber investments
a highly favorablo position.
An Underground Farm.
Atchison. Ksu.. will soon have an under
ground mushroom farm. Between Mound
and Ijirainie. on the west side of Klghth
street, are two long, damp, spooky vaults
of a brewery thnt stood over them years
ago. J. A. Dcmond has leased these cave*,
lie has been rending government re|iorts
on mushroom eulture. nnd will grow thin
vegetable In thb "enve." Demond says ho
used to grow mushrooms In Detroit nnd HI.
Joseph, ond was succenvful lo their eulture,
lie rceelved 90 cents n pound for them. Ilia
Brat crop. If tho "raves" prove the right
place for the mushrooms, will be ready for
market In about six weeks.
Lizards 8uccsed Birds.
V. If. Herrick, In "Bird Inn," describes
s peculiar state of affairs whleh, be says,
exists In Italy In consequence of the merri-
less slaughter of birds of all kinds la that
country. Bpring and fall the Italian mar
kets ant filled with hints, and the land Is
virtually dcpopolatcd of winged Inhabitants.
, ths a treats of the birds.
This consists In the multitude of Itssrds
which dsrt shout everywhere nnd dlnplny
the utmost agility and admirable appetites
In capturing snd devouring Insects.
Raven Not 111 Omen,
i ere generally regarded as birds of
bnt the nncieat Danes considered
them s good portent. King Alfred believed
that ir the lfanes were ilcstlnoil to gain a
victory over him the signal would lie given
by the appearance of s live crow nyi
the middle of the enemy's unfurled f
■■■■hang 11 in p. IVrliap*
_________ footed the raven for their
standard out of feelings of gratHml**, for
before the invention or the mariner’s com
pass they are said to havo found him ex
loose s raven. If the bird saw land hs
sailed away forever; If he did not he
turned to the ship.