Below is the OCR text representation for this newspapers page.

ATLANTA GEORGIAN. 11 edited bv JOSEPH B. LIVELY THE GEORGIAN’S RECORD OF MARKETS AND FINANCE *%§ ely’s 25 ywiii experience :*ti la Atlanta and Ttith has mad* him a roc* authority In his specialty. tone hi shiei ii in Ibusuicss Checked By Near Approach of Government Condition Report. I CABLES WERE BETTER I Sales of Spot in Liverpool Larger Than for Some Time. n . print* Ltutd Wlr*. l.w York. Aofu.t L-Burino nt Mini of the cotton market was very .Mtot lielnf Checked by the approach of ?h. oohltatlon of the *orernmcat condl- Ian reoort. The cables were better titan Ifi "a 1 ? he sales of tho spot articUlb I Liverpool were lar«er than they have been I (or some time. SPOT COTTON MARKET. Atlanta,.teadyatlWic Sew York, tteady at 10.90c; delivered on I TKS^rleans, •teady at 10%c. Liverpool, dull at 5.9M. Augusta. quiet at lie. garannah. quiet at I0f*lic. gt. Loola. quiet at 1%. Houaton, quiet at 10%c. Memphis, quiet at 10%e. Galveston, steady at 10%c. Baltimore, nominal at ll%c. Mobile, dull at 10%c. LIVERPOOL COTTON MARKET. . Liverpool.' August 1 12jtf u P- m.-Cotton, I gpot demand Increased, with prices steady; I middling uplanda 5.90d; sales. 8,000: Amsrl- 1 can 6.500: apeculatlon and export 1,000; re- I celpta 4,000; American, none. 1 Futures opened quiet. Opening _ Previous Range. I Infant I August-Kept. . JgepL-Oct. . . I Oct.-Xov. . . . I Nor.-Pee. . . J I>ec.-Jan. . . I Jan.-Feb. . . . I Feb.-March. . I Marrh-Aprll. . Anri 1-May.. .. Cloaed dull. . .5.65 .. ..5.60 . . .5.56 *...5.57 Ii!#"*’ .. ..6.61 5.64-5.06 Ml 5.60- 5.61 5.69 6.66-5.57 5.65 a 6.58-5.59 6.57-5.58 6.60- 5.61 i.60-6.60 5.614.62 6.604.61 TODAY’S PORT RECEIPTS. The following table shows receipts at the I porta today, compared with. the same day I last year: I New Orleans. . Galveston. . . Mobile. . . . Savannah. . . Charleston. . . Wilmington. . Norfolk. . . . New York. . . Beaton. .... lM 1906 J 341 1018 r 8 . 1001 i 456 .■"« : j& , 24? ‘ ,7 S «* 1 2754 10983 ° INTERIOR MOVEMENT. . The following tnhlt shows receipt* at the Interior towns, compared with the same day last year: -• NEWS AND GOSSIP Of the Fleecy Staple. A condition of about SO u expected.'* Carpenter, Baggott & Co. say: “While the sentiment on tho floor Is predominately bearish, they tin*! It Impossible to hammer prices. Tho opinion Is popular that an ad vance of 20 to 30 points would be moat ac ceptable to even the most bearish and with little resistance." Tho Journnl of Commerce makes the con dition of cotton 81.7, ngninat *2.7 Inst month. Very favorable prospects, but too much rain causes deterioration. Some heavy grassing and sappy results. Weed, though small. Is stroug and Healthy and well fruited. No damage from Insects and no serious complaint of scarcity of labor. Many fields clean and well cultivated. Scat tered complaints of shedding. Cotton will be laid by about August ]. S.-im-m -mm “hat late." New Orleans. Aug. L—Liverpool higher Is n shade better thnn expected. Wi duo unchanged to 1 higher. Frank Ilayne says In an Interview of the July deal: "That It was a liquidation, ami no corner was attempted; that a loug In terest well over 50,000 bales existed, and that over two-thlrda of It was liquidated nt over 11c toward the close of the month. Improvement of Good Frac tion to Full Point Scored. STOCKS MORE ACTIVE Rise More General Than Any Prvious Stage of Up ward Movement. bales only on contracts." tw Private Wire to Ware & Leland. New York, Aug. L—Liverpool futures opened quiet, 1 up. At 11:15 p. to.. un changed to 1 up, dull. Kales 4,000. Spoti 1 down, 6.96d. Futures due to come un changed to 1 up. The New York cotton market opened quiet and steady; prices unchanged. Com mlsstou house business practically at a standstill. Even local operatora don't seem disposed to do anything either way. day Houston got no new cotton. _„ ago, the big crop, It got 81; three years ago, none. Shiner, Tex., wires: "Cotton opening fast creases and brokers ity ovei ok to i nt.. ... — The movement of new cbtton in Texas fa getting to be an impor tant factor, and la causing spot buyers to Is 28.118 it ato balei 5.208 at thin time last year. Amount on shipboard 4,672 bales, against 9,763 last year. Cables are favorable. They were due and 2 down on New Orleans and unchanged to 1 up on New York. Official cables re port a better spot demand. .. The weather map la favorable. Very lit tle rain la shown over the cotton belt. Tem peratures are moderate. „ It looks as though Hutton A. Co. were trying to aell some cotton. Thla la the firm Mias Giles la employed by, and their selling may be In anticipation of the re- art, ont Wilson took the cotton. Tne locals were disposed to hammer the * l.— n# \flaa nilaa' ra. By Private Leased Wire. New York, Aug. L—The market's recep tion of the welcome news of the Steel com mon dividend was scarcely more striking than was to have been expected. In spite of the eleventh hour rumors that some dis tribution would be 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 sales, rose Immediately IV i points from yesterday's closing, while the preferred gained a point. These were the top figures for the stocks for the morulnr enormous proflt-taklug holding down thoL r »rlces for the rest of the early session. But n other quarters the market showed Its exhilaration throughout the list. There were some sharp advances In the whole M of Northwestern Issues, In Union and ern Pacific, In both the hard and soft coal stocks. Copper, Kmelters and Brooklyn Rapid Transit Bt. Paul waa heavily bouAr on fresh talk of baying for control, tT * vorlte reasoning being that the prospi the road changing hands waa the cause for nothing having been done with the Pacific coast extension plana. The whole market waa exceedingly active throughout, and the rise more general than at any previous stage of the present upward movement . The stock market opened at general ad vances, extending to a point of Colorado fuel. Union Pacific and Amalgamated, tending gained %, Smelting and New York Central and Union Pacific %. steel common opened at 41% to 41 against 40 terday. LONDON STOCK MARKET. STOCK— market on the Issuance of Mias Giles re port, but Wilson tok the cotton. Miss Olles’ report Is 82.7, against 88.5 July 16 and 88.9 June 29. WORTHY OF NOTE New Ydrk, August 1.—The Sun say Anaconda .... .... Atchison Canadian Pacific.'. Chic., Mil. and St. Paul.. Erie do. preferred lllnols Central Louisville and Nashvtle.... New Y ; ork Central Pennsylvania....* •••••• leading Southern Pacific Union Pacific United Rtates Steel do, preferred...* have given a certalr 1906 D06 i, Houston. . Angusta Memphis . 8t. Lulls Clurluuatl Si 2 88 Mg t IS t 212 t 1 KW 0 Total 1632 V GIBERT & CLAY'S DAILY COTTON LETTER New Orleans, Aug. 1.—In Liverpool an ether dull session waa recorded, options Mining one point In the net result, while the reported Increased Inquiry for spot cot ton s day or so ago has resulted In sales to- . 8000 at lose of a point. The local market waa entirely featureless, prie* chaoses continuing along narrow tinea. The condition estimate of Jnly by Mlaa I Hf* was *2.7, and waa considered bullish, bat present prices are generally deemed smrblently high to discount even a lower | estimate. Extremely favorable crop re ports continue to lie received from reputa ble sources, and the Ideal weather of the past few days has added considerable con- I fldence concerning Ideas of existing proa- J^ets for a bountiful yield. * Nevertheless the crop has yet to pan through some four weeks of weather of vital import to tho farther maturity of the plant and Its fruit. Jarlng which period dally crop advices will b* largely Instrumental In shaping the rasr- ket« course. For the balance of the week, little or no change la looked for, 2* tr * rt f, *PPerently being well content to «nttl the Issuance of the government condition figures for Jnly on Frldny morn- ins next. Yor,t i August l.—The stock market ?*? »trong today from the earliest trading, and n large Increase In pnMIc Interest !.y ■ ,, PJV* rt followed fft a iVnlt of the Ht»tea Hteel report, and a general ! , ,n confidence In fundamentals. | The Russian situation, grave-as K la, seems J* r ‘‘f*rded M • minor Influence, and Interests are unanimously support- 15* their specialties to a greater extent 2&SLW I*®* ln recent past. Moat strength Is shown by the Ilarirman Issues, £»S%£n i rat. 8S2* &££ '""Jo'* m»nr* I thloM h«n rcralcd a, al.ni.nt. of rtoofit look to new In8ucnccs to nf- . ,h » IwMto vnlrnl and vnln.«. h l ,w •» * Mtlifactory .hap., »Mcr me* o, fond, nuke* tbt. S9™« »» »leni.n» to lie kept alw.,. We, eotwlte.d™. .nd It I, rtlll Impo.. S’l" ,n ' n,| fel/ dl.rcgsnl foreign rondl- wSti.Ui"® l, . t k-'-arw. no doubt of koto* on In Amertea. and we mint Iho.. 1 : 's? 1 -h.l.TM’ reaction mar ha 1... : .eeurttjr llat aa a rdilt of JKJ mtTln* on Thnradajr and Frl- rA- w|l i. *».;«««wad br atrona aanport la Si' l1lr erttoaa. wkara klith dlrtdend S85 rj a; n T m 1 " ni,t >wlh ■«**«• THE 8UOAR MARKET. Jap >nerator was disposed to hold ma and await developments. More light Is wanted on.the crop situation. The forth coming government monthly report on Fr day will. It- Is thonght by some, furnls decisive news on this aabject, altboug this opinion Is not unanimous. In tend that It la ranch too can leflnlte conclusion as to the r •f the crop, Inasmuch as August Is ns the most critical period In market weakened ■MMramwmilmraram] reporta ... .aore or less telling L aure from local traders, but the bun lead-1 er gave support, and later on scattered cpverf’ir took place and the market waa bWMlrtWg Jb-ory rains were reported In the aiiuuile statefl, and the weekTv gov eminent* report waa rather bullish. If nny-L thing, seeing that ft reported damage from excessive rslna In North Carolina, Bonth Carolina. Arkansas and Tennessee. The •peculation waa wholly .professional and lacked featnrea worthy of note.' —Olbert f ClayHH New ATLANTA MARKETS. FRUITS AND PRODUCE. Officially corrected by Atlanta Fruit and p E?ru*"M.(>o. Mines 50 to 75c. reaches, per crate, 60c to 81.00. Ineapplei, 8L50 to 2160. 220.00 per 100; de. Iiaunnna, straights. i»—- fl.75. Calla. per bunon, tl Watermelon J7.50 to ,20 mand rood. POULTRY AND COUNTRY PRODUCE.— ^lve hens 25 to J7H<?; fries 22V4 to 25c: Itrollers 15 to Mve ducks, Pekin 30 to 85c; puddle 26 to 17Hc. Dreaaeil hens, per lb., 12c to 13c. Eggs, per doxen. 15 to 16c. Butter, table, per lb.. 20 to 22%c; cook Ing, per lb., l&c to 15c. •Roney-New HflOe lb.; in 1-lb. racks 10 ^VEGETABLES.—Irish potatoes. • ^ ^ IL60, ■HMP9MS to 8L8E Old sweet potatoes, per bushel, fl to 8L2I; icw sweet potatoes $1.50 bushel. FLOUR, GRAIN. PROVISIONS. FLOCR-Poat.l. Patent, W.0O: Diamond ntent, Maacoutah Star, *<75; B patent, ».(S; Uluo lllhbon, M.10; anrlna wheat patent.jfc.S to 11 CORN—Cnotc, red cob, 77c; No. 2 lipped. Me; choice I,.Me; -reins ru.t OrlMitf, Anfuat l.—The TImi uemocrat; "barring a rather general ■ sir, on the part of the talent To eren np the bureau report due next Friday, yr terday'* cotton market wa. feotnrete«, d and lnactlT. to at Scalper* with appet lunch money out ot me piar. — crop new* merely added to the proof of Ta.oraMe progre**. Iterolntlon In Ruaala wa, without potential effect In the narrow market Fall option* held their own be. cauie shorts fwired the government condl, nla. Further clover mixed, *1.00; do. No, ! clot , ji.frt.nded the ataple. There nothing ambition. In the Immediate outlook from the viewpoint of either faction. Wan A belaud. WARE «L LELAND'8 DAILY COTTON SEED OIL MARKET Naw York, An was. rather featureless aside from a steady position. For the moat port, trading was dull, owing to tho fart that the eltnatlon la a waiting one. August wan prectJca ly • nditlll, owing to th. Inch .of In- tt n owing to the lnc_ tenet on the port of .Mcnlaion, who an 'their attention to white, Cfle; choice mixed,, proof, lie. UBAI Plan water ground, per In 74c; bolted lfMh. lutes per bu.hcl, 66c; Shorts white. 11.40: medium- Si.Si; brown, |1.»: pars bnn, IJ.11; mixed bran, *1.10. ■IIIAY.—Timothy. ch,*ee large tmlrs, ,1.101 cloaed 'mixed", 'cr.OVKIL-Cholce Me. The above price* an f. a b. Atlanta, and •object to Immediate .eceptance, GROCERIES. SUGAR.—Ptniulnrii grnnul»ted ork Refined 4>< to <H; plantatlooa 414 to Bfo 1*FKtt—Itonste-l ' Arhuekle'n E^if.r'sr^.T"- wWi *■ RICB.—Carolina 4H to 7Vie, according to grade. Market very strong. CIIEKHB-Fan<7 fnll cream dairy, 1414c; twins 14c: brick. 14c. UarkM .trong, PROVISIONS.—tinpreme hams 1fi\ Dov. ham. UHc. I'allfornl* hams 10He: Red t.'roM bams lie.' Dry salt extn ribs. *3.75: battles M5 lh.„ ,10.k: fat barks Sc; platas Ic: Drift com pound, ?gc, uW cross, \ giving moat of their i tk, new f September over ng to predictions of new crop deliveries Some oil has been offered from southern Texaa for Angu.t shipment, and a moderate anwnnt ha» also l>een offer ed for Reptember and Octolwr dellrerr. Th. MrUneu of the crop and the favorable prospects In the central and aottthweat producing dl.trtrta nuke, those ««tlon. the Important one, thl. Maapa. while In the ea.t the crop la later and of ten aat- (.factory proporfloas ^ bang*. Aagnat.. Reptember.. .. . October November December January.. .. .. . Cloeed steady. Edgar Alien Poe. American poet, slept with bln cat. He wa, fond of hit feet, Sd took reat prlde la their keen. Darwin, the fimoos Bogllah naturallat. aevercared anything for a bookjo.t to E ire a shelf. lie wonld tear a book Into Ives If It beat sernd bin purpose. COFFEE MARKET. New York. August 1.—The coffee market being on the lions aad at the of the ttlfn a~rvanlt of lower while the Increaslnjr demand de veloped as the rail progressed and steadied the later months, and the opening, as a whole, waa considered a very firm response to the character of the adlvcea from •broad.—filbert 4k Clay. Following la the range of New York cof fee today: Opening Range. i ranuary 7.85 KSSC7v. :: £ 7J# May!:'-I:* - - :l|f| juffM .6.96-7.68 .7.30-7.3* «s» ill “ 7.70 TTT. 7.70-7.' 7.7*71 7.00.7.1 WARE A. LELAND’8 DAILY COTTON LETTER GIBERT & CLAY ATLAC4TA.OA. corrcc. provision* . . MCMBCRIi Exchange|N>w Orleana Cotton nxchange.lChleago Board1 of Trade. Yo2 r?U on Ex^nge New Orleans React Exchange.(Liverpool Cotton Awoctation •a Coffee Lxchange.jXew Orleans Board of Trade.'Galveatoo Cotton Exchange I .. ■* , . Prlvat. Wire* to all Excbaa,ca. "* Long DitUnee T.I.phon. 5293.' W. R. FAGAN, Manage* been antlelpai The Ttmes-Dmaoent's report early la the week end the private estimate of the yenag woman •tatlstlrtan. showing a lom lene Hub a paint, wired to ex.it 1 ---that deprawing Influ.n. e oa the mar- Tl.!« wa. not luporuat. however, th* benaa U exoected oa Friday, and RANGE OF NEW YORK STOCK MARKET Aiimk'amfitfil Conner American Sugar Ilertnlng Atlantic Coast Lluc Auncimdu American I/>couiotlve.. do, preferred American Smelting Refining do, preferred Atchison (lo, preferred American Cotton Oil Baltimore and- Ohio Brooklyn Rapid Transit Canadian raelilc Chicago and Northwettarn Chesapeake and Ohio Colorado l-'uel and Iron Central Leather do, preferred Chicago and Groat Western Chicago, Milwaukee and Bt. Paul Iiclnuurc and Hudson Distiller's Bccurlties do, preferred., neral Electric.. _JMi OwtraL... American Ice Securities Louisville and Nashville.. Mexican Central Missouri rnrlMc...*....'.i NetVfYork, Ontario and Western ,,,,, National Load Northern Pncltlc New York Central N"i f.»ll» and Western Pennsylvania '.... People’s Cun Pressed Steel Car do, preferred Pacific Mali IG-ndlng Republic Bteei Itock Island do. preferred United ntntcs Rubber do, preferred.. Southern Pacific .. Southern Hallway do, preferred Sioaa-sheffleld. * Tennessee Coal and Iron Texas and Pacific UHN I ‘in'lllc United Htatcs Steel * A.... do, preferred Virginia Carolina Chemical do, preferred Western Union .' Wabash do, preferred.. Wisconsin Central .' ,o. preferred... Total stock sales today 1,867,006. RANGE OF THE COTTON MARKET AT NEW YORK. The following !■ the nags la cottoa fnturca la New York to-tav: Last 1'r.vlon. Open. High. Imw s*i. note, cioac. Aug. .4.97 9.97 9.97 9.97 9.96 97 9.95-97 Rcpt. .10.09 10.10 10.01 KUO 10.1H3 10.09-10 Out. .10.B 10J* 10.17 10.S 10 25 26 10.22-2J lov. , .... .... 19.27-29 10.14-36 Dec. .10.13' 10.36 10.28 10.85 10.84-58 10.M-S1 Jnn. .10.37 10.40 10.33 10.40 10.89-40 10.3617 gar’. ilO.ii 14.60 10. <6 uitO 1o!m52 10.'<*60 Closed atcady. AT NEW ORLEAN8. Th* following I, tho rang* la cotton futures In Now Orleans today: Last Previous Open. HIch. Low- Bsle. Close. Close. Aug. .10.40 10.45 10.40 10.45 10.43-49 10.37-38 Sept. ..... .... 10.29 31 10.26-28 Oct. .10.19 10.28 10.17 10.81 10.21-23 10.17-1! NOV. . 10.22-24 10.18-19 5SS: :lo a H $8 \& |P m Feb 19.31-83 Mar. .10.43 10.46 10.40 10.46 10.45-44 10.42-1* Closed tteady. TIPS FLASHED From Wall Street New York, Aug. L—Daniel "Bullish operations nre likely In the stock market today, particularly along specialty lines. Perhaps the best Indication or lnalde „„ Toe technical posi tion has been improved by tho tendencies of tho last day or two. Conservatively bull ish operations will eontlnuo, wo believe, to givo satisfactory returns ns a whole. Private information In high sources say dorado Fuel and Iren la not worth any thing. Would sell It and Brooklyn Rapid Transit on bulges and buy Union Pacific and Southern Pacific on weak snots." Marshall, Hpader & Co.: "Perhaps tho now phase of tho Russian situation may bo of more Influence in Europe this morning, and It la possible the market may broaden care i _j prl._ — _—_— — T prefer buying on such recessions as may lake place from special causes. Private Wire to Ware & Inland. New York, Aug. L—London firm at *4 to nnd Is n most bullffh feature, wh I to [ “ ^ cHjMM-lally. UksSJ^but ^"on^advances think It will be prudent to accept profits, aa a great deal of realising inlt undoubtedly take place and allow reactionary movements. Loudon a big buyar of Union Pacific. New STOCKS UEVJEWFI) ' BY NEW YORK SUN nil through the nctivo list, and for the first fifteen minutes or so the tendency of prices was upward under the Influence of a heavy domand, much of which seemed to come from tho short Interest. From about the mbldlo of tho first hour until well Into the nfternoon business was of small vol ume, the trading element showing «di“ disposition to await tho publication ol Bteei earnings. In the last hour, under the leadership of the United Btntes Bteei stocks, tho wnolo market took on renewed strength and activity, so that tho close was "111 v nt |• rn«• 11«•;111 v the highest flgur.-N of tbo day* but In the case of many promi nent stocks nt the highest level touched (•II fill* I'ICMI-Ilt II l« I \ 4* III 4*|| t. For tne first time In n long while the street gavo serious consideration to tho div idend possibilities in United States Hteel common nnd anticipations of a resumption of distributions were shown to have been liistlfied when, after tho dose of the mar* NOTES ON GRAIN Pointers on Provisions. Private Wire to Olbert A Clay. Chicago, Aug. L—Liverpool's decline In wheat not equal to oors, but reports of Russian revolution seem to be without ef fect on prices. Proniluont shorts covered their lines yesterday, and likely to lend the market support on any toft snots. Wa •ee nothing to cause any material advance lu wheat at this time, nnd In fset think •nme lower prices probable. But the long side on dins will hv as profitable ns short side on rallies. Clear oud hot weather In Illinois corn belt. bear on wbaat. Can see nothing In the oats situation to warrant further setback In values. Oats opened higher on good baying by commission houses, with selling scattered. Corn opened higher on lack of rein In parts of Illinois where most needed. Pre dictions are for a skipping of the sami sections by tomorrow's predicted rainfalls Strongly urge the purchase of May cori at the market and on a acnlo down. W<1 will certainly get a acare this month, no matter how the crop eventually tarns out. Chicago Record-Herald: "Large deliver ies of corn were made yesterday afternoon line waa also delivered by A. V. Booth. Thenf are only 1,800.000 bushels of contract corn In Chicago nubile elevators, and out of thla total 775,000 bushels were delivered yes terday. Private Wire to Ware & Leland. Chicago, Aug. 1.—Corn position growing - ~-p|« c — ■ who hn\e been holding iah corn were free sellers yesterday. | Car lots wheat todny In Chtcngo 29» cars, rnlnst 502 Inst week. If this falling off i receipts continues wheat has good chance for n small advance. This wheat Is getting Into n price where there le an aMnHh«iiHHMre|d bears will notL. . has been somo heavy buying by scattered local shorts from the nmuilng until around 7474c, when Armour brokers sold freely and a setback may toko plnce. Provisions n slmdo lower on the large .Dg receipts. Mnrket hns eased off on light M-lllmr by (’tiiiiinUI.*>oii h-.iif-s. I’n.-kiTH pur chased sparingly. Demand light Belling of Keptember onta by Updike drove market to He. Baying aosttarea. Hlniply shorts buying wheat, nnd now Ithat power la out or mnrkot It sinks of Its own wcIkM. I Chicago intar-Ocosn: All records were broken for wheat receipts In .Tidy here last month. Arrivals were 7.764J)00 bushels, exceeding the big run of 1902 by 1,173,000 bushel*. In Joly, last year, receipts were | H bushel*, and in 1904 only 938,000. r movement of wlient made also a I sh mark, being 8.886 cars, com pa rod with 3,1181 cars Inst year nnd 876 cars in There was a decrease of nearly 3,000 cars of corn and 900 cars of oats from last > ear. Cash business In wheat in Chicago Tuea- ... «•*« tfiA AAA liii.linln mcstl. V/x *9 c*i, largely to tho seaboard exporter*. J Bales of corn were 185.000 bushels, oats 160,000 bushels nnd rye 30,000 bushels. | The seaboard at tho close reported 400,000 bushels sold for export; also, 87.00 corn. Charters were made for 85,000 bushels of ^ at iqc to BonwH trades were cleaned np yes- delivery of 180,000 wheat, its, 1.750 barrels of day _ ,000 corn, 210,000 UIU . *,,iw .»n pork and 50,000 pounds of short rib ORIGIN OF THE TERM -PHILADELPHIA LAWYER. 1 Th. action of th* Rtcl director, ahonld ■bconrnge holla, and w. rather look for flmproT.rocnt- thouxh tho foreign situation U not no satisfactory. ■ taDow-Jonaa' ■□mra.ry: American stocks In London firm *cncr- PKaunn^u^'AlIroad^wm reduce mail! mum on.ivny fare cast of l-lttabor* to 2V4c ncr mile trnnfcrahl* mtlea*o. Jniiip* J. Hill ha* laid down the role that Great Northern alockboldern will Inercr reel re more thnn 7 per cent din- 1 YV*lli-F*rgn aurplna nenrir *I*.00»,690. Twin Cttr R»P*d Tmnnlt enraln* n#«rljr T per cent on common itiwk. Juljr lN>nd market mad* n now low ne urit for that month. ' Chesapeake nnd Ohio earned In Uw ll*cal Tear nboat I per cent nn lb* atock. r Jnittce Gaynor **r* that frclfht ralnn U th* mother of monopot*., , ■The reanmptlon of dividend! on flt««l it.e-k la dne lar**!, to Mcord earn- lc,l».lW for the necond quarter. WKchawe tranaaetton* In Jul/ »- ■ssft fflac* til* Brat of 'Tlv* T*«r« ornlna* of ten railroad, abflw an Inereaa* of 40 iwr rent In noon and 7* per cent In aurplns applicable to '"'Twelve*'Indnatrtala advanced -49 per cent. Twenty active railroad* advanced .» per cent —war. A I-eland. tk* new obll- tant a docn- cotton iu w operator, car* to undartaki tlona on the ev» of no Import: meat Th. rfovt «o mU a llttt* conon ran th* market off >04 point, very qnlckJr, after which It w*» supported vlxorooilj and prices meradl(me* to about lam ntnhtn 6*ur*a. WenknaM In to* »ot portion, aid In tk. nrar month. In Civ- Spool, with recjlpti of ovjr 3W bale, of naw cotton nt Houaton today nerved to •how th* wel*ht o^nctMljtnff. Very llt- the chan** In tStceiTI. looked for bafora to* rapovt, nod after that It will raqnlr* m» unforeseen trouble to brln* about au ad vance. ■ Hna the definite origin of tho phnus "a Philadelphia lawyer” over -boon Klvcn? Only two explanation, of tho expression are known to the present writer. When In Philadelphia n year or two n*o a bvnr of tfiat (fir M*| formed me that the expression had nothin* to do with hln,native town, but owed Ita Oiiffln- to a street In London tunned I ’ll' In'! •■ 11 tl In, wlu-r. yen lived. Thin explanation Is Inge nious and seems to have but a single serious defect—namely, that such i i- 'iid-m Mreci exlsta only In the Im agination of my Informant. Tho other expluruttI- ti Im f'-uml In Bartlelt’a Die tlonary of Amcrlcanlama (1177), where wn read: -Philadelphia lawyer. -That beat* a Philadelphia lawyer.' -He knows aa much an a Philadelphia lawyer.' The,* are common sayings, whence It Is to he Inferred that the bar of the Quaker City are distinguished for their let Ing and shrewdness.” (Page 462.) This In thn obvious explanation of the expression, and there seem, to be no rood reason for not accepting IL An, howevnr, thn history of the exprsa nlon hns never beeit *' ■■ or three extracts wll SOUTHERN EXCHANGE Oldost Established Office South. conon "STOCKS BONDS - MlIN Ground Floor Gould Building. Dally marfcet letter and market manual mailed on application. LJ. ANDERSON & CO Bankers and Brokers, COTTON. STOCKS, GRAIN Correspondint’s Capital $250,000 RCrCKCNCC, THE NEAL BANK PHONE S4I7. PRUDENTIAL BLOC >l<*a of now oats from South onlay, tenting 38 pounds end yields run ling t»d to 70 biifihf > ln to tho acre. Storm Lake, Iowa, unld tho flrat two flrlds of oats threshed yielded 46 to 55 buBhola nor acre. Crop Expert B. W. Know returned yes terday from the Canadian northwmt. Ho hhj-h: "Manitoba will rnlao the Urgent crop of wheat that over grew out of tho ground In tbnt country." Nebraska grain deplore predict a heavier movement of corn soon. "Almost every nftent we havo says there will bo free movement of corn next week," wired ** dike, of Omaha. “I believe myeelf aro going to have a good movement of corn. Farmer* are nlao commencing to ■ell oat*. Wo bought 3.000 burihHa nt ooo of oar Nebraska stations yestorday." OPENED STEADY AT FRACTION IIP Changing Over from August to September Option the Main Factor. LATTER IS ES T DEMAND Unsettled Political Condi tion in Russia Was a Stimulating Influ- By Private Lea.eil Wire. Chicago, August 1.—Cloning pvlreg for tho day showed declines of 1-4® 3-8o for wheat. S-8c for corn. l-4c for oat, and 71-2 and 32l-2c for hog pro ducts. The early strength In wheat proved tho downfall of tho market, aa tho selling waa on a liboral scale. There was talk of 75 boatload0 of wheat hav ing been taken at New York, but thla waa not confirmed at tho cIomo. Tho Kansas City Star estimated that Kan sas has raised 90,000,000 bushels of wheat this year, and there waa Home abort aelllng hero on thla. Cash salea, besides those given above, wort 100,000 bushels wheat, 60,000 bushels com and 80,000 bushels oats at *'hb ago, also ton loads corn and 150,009 bushels oats at the seaboard. Primary roodpts ..f wheat 1.491,000 bushels and com 377,000 bushels, com pared with 1,347,000 and 421,000 re spectively o year ago. Clearances Wore 479,000 bushels ot wheat, 46,000 bushels com and 24,000 bushels oats. CHICAGO GRAIN MARKET. Open. WHEAT- Rept.... 74% ~ee 77% :ay.,... 81% CORN- Bept.... 49»4 Dee 47% May..... 48 OATS- 8ept.... 31% Dec 82% May.... 84% J'ORK— Bept... 16.60 Jnn.... 14.00 LARD— Bept... 8.67% Oct.... 8.77% Jnn..*. 8.05 BIDES— Kept.. 8-90 t.... 8.72% High. Low. Close, « 81% 73% 79% 73% 76% 80% 50% 47% 48% 48% 46% 47% 49% 46% 47% 81% 32% 34% 80% 81% 33% 30% 31% 33% S3 16.72% 16 25 16 52% 16.15 14.05 14.00 14.05 14.15 Jan., 7.47 8.82% 8.65 7.47% K PRIMARY MOVEMENT. Interest In 1817 James K. Paulding wrote: "It would putxle a Philadelphia law yer to mako a romance out of a log nut" ("Letters from the South," 2, 44.) In 1881 Captain Thomas Hamilton, a younger brother of Sir William Hamil ton, and the author of "Cyril Thorn ton," visited this country, and his In evitable book of travels was published at Edinburgh In 1838. In It Captain Hamilton pays this handsome tribute to the Philadelphia bar: "During my stay in Philadelphia I frequently visited the courts of law. The proceedings I happened to witness were in nothing remarkable, and I have already described the externals of an American court. It Is not unusual among the lower orders In England, when any knotty point Is proposed for discussion, to say It would 'pussle a Philadelphia lawyer.' To do this, how* ever, it must be knotty, Indeed, for I ha v *• n« - .-I met a b«id> -f m«*n m u •* distinguished by acuteness and exten* sive professional Information than the members of the Philadelphia bar." ("Men and Manners In America," 1, 888-884.) These extracts show that the expres sion was In common use In this coun try nearly a century ago, and that It early found Its way to England. 1' • r F. Marlon Crawford has used the same Tho following figure* gl raovoajaot of wheat and corn Today: Wheat—Receipt! today, l,49I,0OO r>i] primary •olpts today, 1,491,000 husheia, against 1,847,0m busht-la Isst year; ship ments today, 997.000 hiishH*. ngnlnnt 748,0W bn ah obi last year. Corn—Receipts loday, 377,000 bushels, • • 421,000 biiRhcls lost year: ' ' J71.000 • * * els last year. NORTHWEST CARSl LIVERPOOL GRAIN MARKET. 6orn opened % closed % to % •r; 1 30 p m . % low to % higher. : 130 p. m., % lower; CHICAGO CAR LOTS. Wbaat., Coro.* . oats.. . Hop.. . Today Totnoi r KT Joaqnln Miller, American poet, always nnlleif his chairs to the wall. Kents, an English poet, ordered red pep- Longfellow, f* of them sit. took id sunset. It waa bllnieet thoughts. Alexander Dmnns. the French novelist nn<l dramatist, bought a fine painting every time ho brought nut 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. MADD0X-RUCKER BANKING CO. htw Orltjh. ware: a lelan d COTTON, CRAIN, PROVISIONS, STOCKS, BONDS, 8s. 2 Wall SI.. Fttm BviWag. Illaala. Ca. MIMBUS: Htw Yark Cattoa ittbaagt. ChUato Board sf Tradt. Btw Or Ira" 1 Colton hchangr. Chuaoo Stock tichaoge. rpool Cotton Attnoatlon. 8*w rath Co'fot tnhaago. hit at* Wires ta Item Yark. New Orteaas. Chicago. B. C. COTHRAN, bt stager. — - whs*