Newspaper Page Text
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» THE ATLANTA GEORGIAN.
WKItHEHDAT. Arr.rUT 1. Iff*.
edited by
"Y?
JOSEPH B. LIVELY!
THE GEORGIAN’S RECORD OF MARKETS AND FINANCE
TONE VERY QUIET
AT THE OPENING
Business Cheeked By Near
oach of Government
Condition Report.
Approi
NEWS AND GOSSIP
Of the Fleecy Staple.
MUi title
to*
Idek Brea. k Co. say: “The attitude
he market I* a nulling oee. Jt him
•doped hu'Ii rigidity Hiii ti Is n"i lik.dt
II 1110V# mere than It ffK points either w
efuro thegtiiircuu. Traders are hesltntl
ml cautious. A condition of about 80
*JC£
orp*
ter, Ilnggntt k Co. any: “While
or is
CABLES WERE BETTER
Sales of Spot in Liverpool
Larger Thau for Some
Time.
By Private Lea awl Wire.
Neu* York. August L—Btialncaa at the
opening of the cotton market waa very
quiet, being checked by the approach of
the publication of the * government rondl-
eport. The cable* were better .than
and (Tie wine of the spot article In
Liverpool were larger thaa they have l*cn
time.
for i
SPOT COTTON MARKET.
Atlanta, ateady at 10%e.
.UUiiaV.li .
New Orleans, steady at 10%c.
Liverpool, dull at $.98d.
Augusts, quiet at 11c.
AlUOIlli **v.
Sava nosh, quiet at ]69-16c.
6t Louis, quiet at lOTic.
Houston, quiet at 19%c.
Memphis, quiet at 10$S“
sslbl
lomlnnti
hau
the most bearish and
with Hi11"
Tho Journal of Commerce makes the
dllb*n *»f cot ion hi.7, ngainst ''J 7 lust month
Verj favorable but
causca (Interiors tlo
and siippy results
ytroog * " *
grassing
• mall, li
fffltai ... ^
serious complaint of scarcity of labor.
Many Held a clean tad well cultivated. Heat
terra complaints of shedding. Colton will
be leld by about August L Season some
what lnt* ”
New Orleans, Aug. L—Liverpool 1
higher 1« n abode better than expected. Wi
duo unrbnngcd to 1 higher.
Frank Hoyne says In nn interview of tho
July dral: "That it w.-m a llipildatlon. »
no corner was attempted; that n long ‘
terest well over 30,000 bales existed. I
that over two-thlrda of It wan liquidated
at over lie toward the dose of the month.
The pool waa short and made a han.laonip
bales only on contracts."
Private Wire to Ware & Leland.
New York. Aug. L—Liverpool futures
opened quiet. 1 up. At 12:15 p. ID., un
changed to 1 up, dull. Hales 4,000. Hpota
1 down. 6.9M. Futures due to come
LIVERPOOL COTTON MARKET.
Liverpool. August L 12:15 p. m.—Cotton,
spot demand Increased, with prices steady;
middling uplands 5.98d; sales 8.000; Atnerl
mu v.,uw t speculation and export 1,000; re*
celpts t.onO; American, n
Futures opened quiet.
Opeulng Previous
Range. Close. Close.
..5.:$5.72 5.71-6.72 5.72
{ .U4.lt 1.64
!
.6.50
.5.56
.5.57
August
August-Sept. .
SepU-Oct. . . <
Oct.-Nov. . • .
Nov.-Dee. . .
I)ee.-Jan. . . .
Jnu.*Feb. .
Feb.-March. .
March-April. .
Aprll-May.
. \f65
..5.6 i
5.50
u.:*
5S7
CIO:
Ml dull.
..5.61
IH4.L
... tJMA iEu!!
I-jm-S Hj?8
5.61*5.62 5.664.61
TODAY’S PORT RECEIPT8.
’ Orleans.
Mobile.
annuh, .
Charleston. •
Wilmington. ••••••
Norfolk;
New York. . « • •
Boston. ......
Total.
&
INTERIOR MOVEMENT.
changed to 1 npJ ■
The New York cotton market opened
quiet and steady; prices unchanged. Com
mission house business practically at a.
standstill. Bren local operators don't aeem
disposed to do anything either way. m
New Orleans, Aug. L—Heavy receipts
new cotton at Houston are causing alt man
ner of bearish comment. Lost year this
day Houston got no new cotton. Two years
ago, the big crop. It got 81; three years ago,
nunc.
Shiner. Tex., wires: “Cotton opening fast
In this section. Up to last Saturday 74
bales were ginned. Town Is fall of farmers
after pickers."
There Is nothing doing around the ring.
Professionals have quit the game. Aa the
bureau geta nearer uncertainty OTer It in
creases and broken now look to oee no
change either way. The movement of new
cotton In Texas la getting to be an Impor
tant factor, and la causing spot buyers
hold off more than ever.
The net stock of cotton In New Orleans
Is 28.11$ bales, against 45^06 at this time
last year. Amount on shipboard 4,672 bales,
against 9,763 last year.
Cables are favorable. They were duo
and 9 down on New Orleans and unchanged
to 1 up on New York* Official cables
port a better spot demand.
The weather map Is favorable. Very
tie rain Is shown over the cotton belt T<
peratures are moderate.
It looks aa though Hutton k Co. were
‘ II some cotton. This Is the
trying, to sell some
firm Miss tjlles Is employed by, and, their
felling may be In antlelpraftni^BhBrata
The locals were disposed to hammer the
Wilson tok the cotton.^^^™
Miss Giles' report la 82.7, against 834 July
16 and S3.9 Jane
LACKED FEATURES
WORTHY OF NOTE
New York, August L—The Sun says:
■* - narrow, ns
ling
ended nt a small advance. Tho
Is understood to have given a certain
amount of support at times, and there was
HMPHHHkt.lir some, furnish
decisive news on this' subject, although
this oplulon la not unanimous. In fact,
some contend that It la much too early to
irrach n ‘ “
Me size
regarded
i a definite conclusion as to the preba-
[xe of the crop. Inasmuch as August Is
ded as the most critical period In
GIBERT A CLAY'S
DAILY COTTON LETTER
•lny or so ago has result)
loss of a point.
oral marice t was entirely feature less,
along narrow lines,
of July l»jr Miss
pri' e changes continuing along narrow 1
The condition estimate of July by
Giles was $2.7, and waa considered bu!
ulllsh.
earned
Extremely favorable crop re*
ok sources, and the ideal weather
K **t few days ham added considerable con-
•lence concerning Mea* of existing pros*
poets for a bountiful yield. Nevertheless
the crop has yet to paas through some four
be largely Instrumental In shaping the mar
ket's course. For the balance of the week,
however, little or no change Is looked for.
ntly being well content to
lug
Mg ...
of the^rnrernment
morn-
New York. August 1.—The stork market
rn 1UIK. t.— gur a uwia-u
- J strong today from the earliest trading,
and a largo increaae in puNIc interest
mid support followed i.*. a i\wlt of the
United Htntes Stool report, a ml a general
Inrrense in confidence In fundamentals.
The Husslnn situation, grave as it la, seems
to lw* rrgnrded ns n minor influence, and
larger interests are unanimously support
ing their sperlaltles to a greater extent
Gum ut any Mm- In Gu- nt ] *'
strength Is shown by the llnrlrman Issue*.
New York Central group. Atchison and the
Uoaiers. though tho Hteel storks were heav
ily bought and good buying appeared In
nearly nil directions. Ho many things
have l*een revealed aa elements of doubt
that wo must look to new Influence* to ef
fect both tho public mind and values.
Money matters are In a satisfactory shape,
bit the wider uses of funds makes tgla
question nn eieiiM-nt to be kept always
consideration, and It Is still Impoa-
elldo to
rhnt Is going on Jn America, and we most
■onHodr that whatever reaction may be
ihown in the security list as a result of
r»« n.-t|w huvlng <*n Thursday and frl-
lay will be followed by strong support in
nnnjr directions, where high dividend
■Mm now assured. will tempt both specu
lation and Investment.
THE 8UGAR MARKET.
. Frl vat# Leased Wire.
Y'ork, August 1.—Local refined and
steady and unchanged. London
hanged.
8; oeptt
there ■■■■
than there waa to trade, and, aa already
Intimated, the fluctuations In price* were
of the narrowest kind. At nno time, tho
market weakened slightly, owing to^ fa
lbl# *
inrai iraoera,
inport, and
ok place an
JWtry rain
on reports from
■ lets selling prrs-
mt the bull lead-
ernment report draa rather bullish. If anyl
thing, seeing mst It reported damage from
IrxcHMvu mine In North Carolina. Sontb
Carol Inn. Arkansas and Tenuesore. The
t nroiiun, rtiminsnn ■mi aruurwrr. x »!*■
speculation was wholly professional am!
Mckcd features worthy of note.“~aibert
New Orleany. August 1.—The Times-
Democrat: "Itnrrlng a rather general de
air* on the part of the talent to even up
the bureau report due next Friday, yen
tardaVs cotton market wae featnrelms, doll
and inactive to an umbltlonlesa dear
“ ‘ ^ - ‘ xu
Heal pern with appetites.could not extract
Ilmen money out of the play. Further
crop new# merely added to the
_ proof of
favorable progress. Revolution In Russia
waa without uotenttal efft
market. Fall options bal_
cause aborts feared the government condi
tion figure, and not because the friends of
the
notl
a figure, snd not l
J Bnee befriended
■ng ambitious In
Hthe viewpoM
‘ • u-I.
War# k Leland
the staple. There Is
the Immediate outlook
faction."—
WARE & LELAND'S DAILY
COTTON SEED OIL MARKET
New York.
Auguftt I—Colton weil oil
Wli tether fenlnrele.^ n»We from » atenit,
Doeltlon. For the mnet port, tradln, we.
doll, owloc lo the fuel ihnt the .llc.llon
le n waiting one. An,net wae practically
at a ataadetlll, ew|a, to tho lack of la
SUTteatlon to tbo aew
rinoTemeat >• aireetln, s*pterat« nndi
of Ket>tember nrerl
to pre'llellnti. nt new
I crop dellteneo. Pooie oil hae lieea offered
from MUthera Teia, for Anrn.t .hiptaeat,
and a moderate emotint haa aim beea offer
ed for Hepteather a ad October dellrerr.i
The eortlaeu of tbo erop and the f.TonbU
proepect. la the reatrel aad aouibwe.t
prod acta, dletrtrts atekea thooo eeetlooe
the Importaat own tkt^H
l.f.etnrj
ater aad of lem Mt
Arisu.t .. .. ..
September..
October.. •• •• •• •• -
November
December •• •• «
January.. ..
Closed steady.
Opening
Kang*.
Bd»«r Allen Poe, American poet, irtrpt
with bla eat He wa, food, of hu feet
tad took gn*t pride In thHr kmo.
Darwin, the faraooa Enrtah aatorallet.
would tear a hook Into
■ mini. IIP wrmi-i ■■
If It beat aerre.1 bla purpoac.
GIBERT & CLAY
•• K. ALABAMA
STOCKS. BOND*.
COTTON. CRAIN.
corrccpnovisioNS
ATLANTA, 04
New York Stock
New York Go ft on
24cw York Coffee
NCMBERSl
CaebanfufNew Orica. QMM Eieh.na* rhleaeo , n ,'?” l _? , .T r !5j.,„-
Rt'hanje jiew Orica, t-tark Eiehaaa^ UrWpoot L.ttoo AHOrt.llm
Eaehnoce lNew Orle.a. Hoard of Trade ]il.licton Cottoa Lxchaa,..
rrlrate Wlrea to all Eicbonrea.
Local and Long Diitanoo Telephone 5291. VV. R. FAGAN, Manager,
WAS AT ADVANCES
Improvement of Good Frac
-tion to Full Point
Scored.
STOCKS MORE ACTIVE
Rise More General Than
Any Prvious Stage of Up
ward Movement.
0/ Private Imaged Wlra.
Naur York, Aug. L—The market's recep
tion of the welcomo news of the 8tee! com
mon dividend was scarcely more striking
than waa to have been expected. In spite
of the eleventh hour rumors that some dis
tribution would b« made, the directors* ac
tion really took the street completely by
surprise, and It was simply a question to
day of how high the market would open
and how fast it would advance. Steel com
mon, on running Bales, rose immediately 1%
points from yesterday's cloelug, while the
i figures for the stocks for the mornlni
I -rices tor
o other quarters the market showed its
exhilaration throughout the list. There
were some sharp advances In the whole
group of Northwestern issues. In Union and
Southern Pacific, In both tho hard and soft
on fresh talk of buying for controC the fa
vorite reasoning being that the prospect of
the road changing hands was the cause for
imthlng hiving been done with the Pnrlflc
coast extension plans. The whole market
was exceedingly active throughout, and the
rise more general than at any previous
:age of the present upward movement.
Tne stock market opened at general ad-
nnoes. extending to a pMnt of Coloreds
Fuel. Union pacific n ml Amalgamated.
Heading gained Smelting 7 «. and New
York Central and Union Pacific V*. Steel
common opened at 41% to 41 against 40 yes
terday.
LONDON STOCK MARKET.
Brie.'.lH
5(11. and Ht. Paul.,
do. preferred.
Illinois Central,
Louisville nnrl Nashvlls...
New Y'->rk ('••Mtrni
Pennsylvania
Bending «.*• .
Southern Pacific
■’nlon rnclfic
-’nlted States Hteel..
do. preferred
ATLANTA MAFKETS.
FRUITS AND PRODUCE.
Officially corrected by Atlanta Fruit aai
Produce exchange,
Lemons, H754l6.
Limes M to .be.
^LJO to S16Q.
Bananas, straights. u* m l»u"ch |L50 to
|1.75. Culls, per bnuc-ti. II to $1.21
Watermelons, 17.50 to $20.00 per 100; de.
’ AND COONTBT PRODUCR.—
Lira hens 95 to 37%c; fries 22% to 25ej
hrollera 15 to 22%c. Live ducks, Pekin 33
to puddle 26 to 27%c.
Dressctl hens, per lb.. 12c to 13c.
“ »r dozen, 15 to 16c.
table, per lb., 30 to 22%c; cook
uuiici, |icr »i»., w ooTl*, swa-
t. in Mb rack. 10
VEaETABLES. —Irish pots foes. **-
stock $4 l«rrsl; No. 9 flock $3.50.
Tomatoes, per crate, 75c to $1.1
Tomatoes, per crate, TBc to $1.25. .
Old sweet potatoes, per bushel. $1 to $1.25;
new sweet potatoes $1.60 bushel.
FLOUR, GRAIN. PR0VI8I0N8.
FLOUR—Postela Patent. $6.00; Diamond
patent, $5.66; klaacoutah 8tar, $4.76; fancy
- ‘ $4.65; Blue Blhboti^ j4,10;__ fancy a
K tent, $4.65; Blue Ribbon, $4.10; fam
K, cbo.
white, 50c; choice mixed, 50c; Texas rt
proof, ilc.
4c; bolted 160-lb. latts. per
horts, white, $L40: medium, ijM; brown,
.30: pure bran, |Ui; mixed bran, $1 lo.
!lX\.—Timothy. ch»*iet* large bales, II.IO:
do, choice small bales, $1.06; do, No.
timothy Mies. »*.«, no.. No. 2 $1; do.. No.
clover mixed, $1.00; do. No. 2 closed mlxe<
►ore pi.
to ltnuie*1lnte *rrr*ptnnce.
GROCERIES.
jnGAR.-Stand*ra granulated 6e. Now I
Tork Itefinwl 4% to 4%; plantations 4% to
Arbnckle’, J16.60,
life, llftc; imo 10 to
lilCE.—E.rollo. «H to TU«. oceordln, to
ada. Usrkot rory pttoo,
JIEEHE—I'.ntr foil rrrmm dtlry. MHei
loo ltc; brick, lie. Market otroor.
B|*|{OV|A|i>NH.—Hopreia. bain. lie. Don
hamo 16lie. -‘allfoml. ham. HHe: Rnl .’row
bania. lie. Drr Hit extra rtbfc 19.76; lie I Mea.
lha., tl0.fS;-fat l.arka. ie; plate,, Se
Htiprem. lord. 69.76: Ite-I I ri*... 10c. Sno«
I Drift compound, lied Cron, TV-
COFFEE MARKET.
New York, Aacoat 1.—'The eoff« market
beginning _ _
cables, while the
loped aa tbo call
a lab
tho later months, and the opening, aa a
whole, waa considered a very firm respond*
very firm response
__ the character of the adlvces from
abroad.—filbert ft Clay.
Following Is the range of New York cof-
fee today:
Opening
Rffgv
January.. .. •• •• 7.8**
February 7.45-7J0
March 7.55
Jane...
July..
... ober-Novembor
November-1>eeeniher.. , .7.16-7.91
December-Janos ry 7.35-7.91
Closed -ateady.
.i.m
Close.
7J5-7.40
7.40-7.45
«?£
7.60-7.70
ml
ill
WARE A LELAND’S
DAILY COTTON LETTER
New York. Angust 1.—Tho event of the
if was Tha Journal of Commerce re
ar on the condition of the growing crop
tho first of August, showing a decline
but 1 per cent for the month. Thin
. • generally more favorable than bad
by aqtlHpated. and when combined with
■ report early In the
and the private estimate of the
young woman ate tint Irian. «bn»lng a loss
b** than a point, served lo exert
RANGE OF NEW YORK STOCK MARKET
AlimlKiHlinttMl Conpef I..
American Sugar ib-finlng.
Atlantic CiHint Lino
Ameria
f-oniotlve
Stncftjug Beflnlng.*.*
do. preferred
Ate hi so:
-I-. pr.-fern..i
Amerirtn Cotton till
BaJUnioro and Ohio
Brooklyn Rapid Transit
Central Leathei
do, preferred
Chicago and Gro.it Western....
Chicago, Milwaukee and St. Paul
_ it wars
Dlntlller'a Securities..
Erie
do, preferred
General Flee trie
Illinois Central...,.
American Ice Securities
Lnijin\iiie and Xashvtn#
Mexican Central
Missouri Pacific
New York, Ontario and YVestern
Natloft.il Lead
Northern Pacific .'
Now York Central
Norfolk and Western
Pennsylvania
People's daa
Pressed Hteel Car
do, preferred....
Uepubll
Itock li
ig
lie Hteel
United mates Rubber ....
do, preferred
S<>iitt.urn 1'at I tic
Southern Hallway
do, preferred
Slosa-Sbeffield
OllWff-nllffllieiU..,.........
Teuneasee Coal and Iron
Texas and Pacific
Union Pacific
United Btates Steel ...
do, preferred
Virginia-Carolina Chemical
do. preferred
Western Union
Wabash .......
: . preferred
Wisconsin Central
do. preferred........................
Total at.H'k sales ioiaj L5f7,o6&.'
NOTES ON GRAIN
Pointers on Provisions.
Private Wire to filbert & Clay.
Chicago, Aug. L—Liverpool'* decline
«he.n Iiot ••• 111:»I to ..nn*. I.ut r.-|M.rtfe
ItuRalan revolution seem to be without
foot on prices. Prominent shorts cov*
thek lines yesterday, and likely to I
market support
nothing to muse any uintorlsl sdvnnro
heat at thla time, and In fact think
lower prices probable. But the long
- -jm will In- hb profitable us short
id hot
rallies. Clear
■oru belt.
grains very week on final Julj
>n. and with this pressure remove*!
pays to bo an eleventh box
bear
Can see nothing In the i
wsrrant further setback In
Oats opened hi gin h
ats situation to
corninlsaloi
Corn opened high _J
parts of Illinois where most
goffei haying by
lung scattered-
k of rain In
■■■Mil this month,
matter how the erop erentuully turns i
Chicago B»--.»nl Herald: ’ l.a’rge i|e||
|cs of rorn were made yesterday “
of the line held In the affln
of Pringle was delivered out and a larg«
line wns also delivered by A. V. Boot;
There ora only 1.300.005 bushels of ttxotraet
terd.iy.
i were (Mlvend yes-
Prlvate Wire to Warn k Leland.
Chicago, Aug. 1.—Corn position growing
weaker. People who have been hotdlng
cash corn were free sellers yesterday.
Car lots wheat today In Chicago 297 ears,
against 508 lust week. If thla falling off
In receipts continues wheat bns good chance
for a small advauQU. •
This wheat in getting Into a price where
there la an argument, and from now on tho
bear# will not nave It their own way. Thera
has .been some heavy buying by scattered
local shorts from the opening until around
74%r, when Armour brokers sold freely and
a setback rnay take place
Provisions a shade lower on the lari
receipts. Market haa eased off on Ugl
2R years’ experience
rkets Is Atlanta snd
b has made him a
OPENED STEADY
AT FRACTION UP
Changing Over from August
to September Option the
Main Factor.
LATTER IS IX DEMAND
Unsettled Political Condi
tion in Russia Was a
Stimulating Influ-
"Ing
price*
1-41*
h^g pro-
selling by commlslaon houses. Packers pur-
RANGE OF THE COTTON MARKET
• 11 VI
that power is out of market It 'sinks of It*
own weight.
Chicago Inter-Ocean: All records were
broken for wheat receipts in July here
last month. -Arrival* were 7.764,000 bushels,
exceeding the Idg run of 1H02 hr 1,173,000
bushels. In July, last year, receipts were
L915.000 bushels, and in 1904 «»nPr 933,000.
also
AT NEW YORK.
Tli, following I,, in. raoo M cotto,
future. In New York teia,;
I .nut l>reilon»
B n. IIIcli. Low S'I, Clow. CIoh.
7 9.97 9.97 9.97 I.96-97 9.9M7
Sept. .10.00 10.X0 10.01 KM0 10.19*19 KMO-M
Oet. .10.M 10.96 10.17 10.16 10.3-36 10.33 3
Nor 10.77-39 »9f3«
AT NEW ORLEANS.
The following I, tho rnngo lo cotton
future, Id New Orletua to.lnj;
I.itRt rrorlooi
Open. Illth. Low* H-l., Oloso. Clo<w
Ang. .10.40 10.45 10.4) 10.45 10.43-0 10,37-3
oSi. iio'.ii loin lblir lb'.ii lo.'n-in
Nov W.22-24 10.1519
pec. .10192 10.25 15.19 15.24 10.34-91 10.9W1
■ 10.30 laiO 10.3042 10.26-27
1904.
81 cars last year and 678 cars Id
There was a decreaso of nearly 3.000 care
of corn and 990 enra of oats from la *
year.
Tosh business In wheat In Chicago Tues
day was 190.000 bushels, mostly No. 3 red
and largely to the seaboard oxpnrt
Hales of corn were 116.005 bushels, oats
i'-UMi bushels and rye 30,090 bushels.
Ud. .19.91 10.31
TIPS FLASHED
From Wall Street
M«W York. Stig. *L—Daniel
bullishness on the security llat la the aur-
prising action of tho United Htates Btael
*v».-rY, r atlon In placing tho common stock
dividend basis. Tho technical p«»*l
...... has been improved by the tendeiiclei
of the last dny or two. Conservatively hull
Ish operations will continue, wo believe, to
rivo satisfactory returns as a whole.
Private Information In high source* say
Colorado Fool and Iron Is not worth any
thing. Would sell It ami Brooklyn Rapid
Transit on bulges and buy Union Pacific
and Southern Pnrlflc on wonk snot*.”
Marshall, Hpader ft Co.: "Perbapa tha
new phase of the Russian situation may be
possible tha market may broaden
with henry settling operations to be taken
earn of. hut wo expect no permanent break
In the price level of the general Hat and
pr.-f.r l-'nlng •»» kimIi refresh,
take place from special cause*.
n firm at % to
Unite.! Btatei Steel laming* of $40,126,000
for quarter more than verified estimates.
cent basis waa clearly a surprise to ^*^7*
liody, and la a most bullish feature, whlj*
lending to stimulate the list of Industrial*
^Xgxreslire buying against shorts moat
likely, bat as advances think It will bo
low resr^li
Ixindon a Mg boyar
unary movements.
* *g buyer of Union Pacific. New
are climbing with Sugar In
’ take place and
►Her.
Indnstt
Tha ntHmi of the Steel director* ahould
enrnurage bufla. and wo ratbor look for
mproTement. though the foreign situation
i not so satisfactory.
I»ow-Jones' summary:
American stocks In London firm gener-
* , K P „':?,’rr c .;.7 > 'A.rs2A r -wm r ^,, m «.*
mum one-way (fere east of Pittsburg to
STOCKS REVIEWED
BY NEW YORK SUN
wary demand, much
L the trading element showing a derided
.... osltlou to await tho publlrntlo * gf
St..,.| i-arnlii,
ffBlp af
sIik-Vk. lb** who',- market t<",k nn n-ru-wi-,|
strength and activity, so that tho close waa
only nt prncflcnllr Ihe highest figures of
the day, but In the raso «»t many promi
nent atocka at the highest hnrel touched
common and anticipations of a resumption
ORIGIN OF THE TERM
“PHILADELPHIA LAWYER.
nsus'rirKn surplus iirnii/ »i»,w,vw.
Twin City Rapid Trantt earning nearly 7
per cent on common stock.
July bond market made a new low rec
ord for that month.
Chesapeake nnd Ohio earned In the fiscal
year about I per (Mtg^aMjH^m
■ HR I k— — the stock. ■ ■
Justice (Snyrnv snys that freight rates la
mother of monopoly.
The resumption of dividend* on Hteel
common stock Is due largely to record earn
ings of H0.12S.fO3 fog the second quarter.
Ht«>clc exchange transactions In July ag
gregated Ik JS.V9U shares, which Is ‘
Hlnee the first of the year, railroads have
ordered more car*, rail* and atruetural
steel than In tho history
of the coon*
five years* earnings of too railroads
show an Increase of 40 per rent In gross
and 73 per cent lo surplus applicable to
.llrMon^l *
Twelve Industrials advanced .© per
Twenty active railroads advanced .9
cent.—Ware k Leland.
few operators care to undertake new obli
gations on the eve of so important a docu
ment. The effort fo sell a little cotton ran
nnd pri<f*
■■
tfosltlon. *nd In the ne*r months — —
arpooL with receipt* of over 35) hale# of
cotton nt Houston today, served •-
Has tho definite origin of the phrase
“a Philadelphia lawTer** ever been
given? Only two explanations of the
expression are known to the present
’■wlfcr. When In Philiu1<-lphla a year
or two ago a lawyer of that city In
formed mo that the expression had
nothing to do with his nntlve town, but
owed its origin to a street in London
named Philadelphia, where many law
yers lived. This explanation la Inge
nious and seems to have hut a single
serious defect—namely, thnt such a
London street exists only In the Im
agination of my Informant. The other
explanation Ih found In Hart left’s Dic
tionary of Americanisms (1877), where
we read:
"Philadelphia lawyer. That beats a
Philadelphia lawver.* TI© knows as
much as a Philadelphia lawyer.' These
are common sayings, whence It Is to
be Inferred that the bar of tho Quaker
City are distinguished for their learn
ing and shrewdness." (P.tge 462.)
This Is the obvious explanation of
tho expression, and there seems to be
no good reason for not accepting It
As, however, tho history of the expres
sion has never been given, perhaps two
or three extracts will not be without
SOUTHERN EXCHANGE
Oldest Established Office South.
CO no* STOCiS - BONOS Mill
Ground Floor Gould Building. Dally
market letter and market manual
mailed on application.
LJ. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, GRAIN
ComspoiOtt’s Capital $250,000
RCrCRCNCC. THE NKAL BANK
RHONE 141T. PRUDENTIAL BLDG
ware: a leland
COTTON, CRAIN, PROVISIONS, STOCKS, BONDS,
fie. 3 Will SI., A Hats, C$.
Chltit* BarS ef Trade.
Chlaji Slitk fadaip.
ft*w Jtk Crffti fictiDM,
" ' “““I*. Mi soft .
Slt»4ird rknf 291
few fork Cefffs !i(hip.
Him Orltat Citto* ht km ft
Uttrpal Colla Anflitla.
Frl Witt Whit li gf or York. Him Or/fMf. Ckl<» f«.
Bill tbit* 1262.
Fbftrtera were tfiadc for 86,0$ bushel* of
[corn nt lkp to Buffalo.
AB tho July trade* were denned np yoa
•rday by the delivery of 180,000 Wbea
|TT»,»i corn. 210.000 nut a. 1.750 barrels <
pork and 50,000 pounds of abort riba.
July wheat aborts in Faria were given
harp squeeze the laat few daya, rrlee* b<
ng run up about 10 centimes n bushel In
the paat week.
Mlnm-npoiia receiving hoimea had aaru
ides of new oata from South Dakota yes-1
terday. testing 38 pminda and yields rngJ
Ing 6u to 70 bushels to the acre.
Hform Lake, Iowa, mild the firat t
Jflelda of oata thresbod ylelde«l 45 to 56
bushels per acre.
Crop I.xpert It. W. Hnow returned yea-
terday from tb<» (.'imndliin northwest. IT
says: “Manitoba will raise the Inrgei
erop of wheat that ever grew out of the]
ground In thnt country."|
movement of rorn next week," wired
dike, of Omaha. "I believe ruysolf
are going to have a good inovemeut of
corn. Formera are fleo roinmeming to
Interest. In 1817 James K. Paulding
wrotu:
"It would puzxlc a Philadelphia law
yer to mako a romnneo out of a lot
nut." ("Letters from tho South," 2, 44.JH
In 1881 Captain Thomas Hamilton, r
younger brother of Sir William Hamil
ton, and the author of "Cyril Thom
ton." 'visited this country, and his In
evitnblo book of travels was published
nt Edinburgh In 1838. In it Captain
Hamilton pays this handsomo tribute
to the Philadelphia bar:
"During my stay In Philadelphia I
frequently visited tho courts of law.
Tho proceedings I happened to wltnea*
were In nothing remarkable, nnd I have
already described the externals of an
American court. It Is not unusunl
among the lower orders In England.
discussion, to say it would 'puzzle
Philadelphia lawyer.* To do this, how-
ever. It must knotty, Indi-ed, f<»t I
have never met a body of men more
distinguished by ocutencNN and exten
sive professional Information than the
members of the Philadelphia bar."
("Men nnd Manners In America," 1,
883-384.)
These -extracts show that tho expres
alon was In common uso In this coun
try nearly a century ago. and that It
early found Ita way to England.
Marlon Crawford has tiacd the same
nboMrr for every word he line ever writ-
ink nod
penholder for every worn he hi
ten. .Ho always carries bis p<
stationery whorover bo oge*.
By Private Le*se«1 Wire.
Chicago, August L—Cl
for the day showed deoil
2-8c for wheat, 5-8c for roi
oata and 71-2 and 22 l-2c f
ducts.
The early strength in wheat proved
the downfall of the market, as tha
selling was on & liberal scale. There
was talk of 75 boatloads of wheat hav
ing been taken at New York, but this
waa not confirmed at the close. Tha
KAnAoa City Star eatlmated that Kan
sas has raised 90,000,000 bushels of
wheat this year, and there was some
short selling hfro on this.
Cash sales, beside* those given above,
were 100,000 bushels wheat, 50,006
bushels corn and 60,000 bushels oats at
< 'hit ago, also ten loads corn and 160,000
bushels oats at the seaboard.
Primary receipts of wheat 1.491,000
bushels and com 377,000 bushels, com
pared with 1,347,000 and 421,000 re
spectively a year ago.
Clearances were 479,000 bushels of
wheat, 46,000 bushels corn and 2 4,000
bushels oats.
CHICAGO GRAIN MARKET.
the Chicago grata quota-
WHEAT—
Sept.... 74%
Dec. TT%
May.,... »%
CQRN-
Sept.... 49%
Dec 47%
May 4ft
OATH—
Sept.... 31%
Open. High. Low.
60%
47%
4*%
$
Dec 32%
May.... 34%
PORK—
Mepl... 16.nn
10.72% 16 X, 16.52% 16 »
14.00 14 06 14 00 14.05
mi
!:n||
iS 3.2 !•**
PRIMARY MOVEMENT.
The fallow Ing flgnrt
Whoat He...Iota today. 1.491,000 hoeltol*
Knluit 1,347.0m tm«Uel« last year-, ship
ments today, F»7.mU husliels, s gal oat 745,955
igainst 4Zl,0<
odav. 371,001
•1* last yeni
377.000 husi
year; shlpm ,
Is. ngslnst 776,000 bush-
NORTHWEST CARSi
week and last year:
LIVERPOOL GRAIN MARKET.
Wheat .
r i5ss
r; 1.30 p. ui., % |ow«r|
CHICAGO CAR LOT8.
Toilar Tomorrow,
nobert I/otiis
A merles a poet, always
Keats, an English poot. ordered red pep.
i*r on tils t»»ast .'Tory time
Longfellow, th.* prime „t them all. took
Is walk at sunrts4> and sanaot. It was
iea he caught hla subllmest thoughts.
Alexander Dumas, tha French toweHot
and dramatist, bought a Aae paiatlag eveiv
time be brought out a new nook.
LOWRY NATIONAL BANK
CAPITAL, SURPLUS AND PROFITS
OVER ONE MILLION DOLLARS
Foreign Exchange, Travelers’ Checks, Brown
Brothers’ Letters of Credit available in all parts
of the world.
WM. t. PER... Pr.ild.nt.
nOOT\ r. MADDOX. Vlr. Pr.,
MADD0X-RUCKER BANKING CO.
CAPITAL
SURPLUS AND PROFITS .
ACCOUNTS INVITCIfe
$209,094.00
$509,000.00
We Invite aerounlH of individuals, corporations, banks
and bankers and offer the lx-st terms consistent with
conservative hanking.
In our Having. l>-n.rtm«nt w. »llnw Inl.rv.t at Ih. R«t. ot 11-J per
cent. Compounded 8cml-Annual1y.
4
r