Newspaper Page Text
EDITED BY
JOSEPH B. LIVE!
*1 THE GEORGIAN’S RECORD OF MARKETS AND FINANCE ~)j
.Irely's 25 years* experience
editing markets in Atlanta it ml
Smith ha* made him a tee.
ognfzetl authority In hi* specialty.
Due to a Weak Set of Ad
vices From the English
Market.
STARTED- NEAR HIGH
After Which Prices Were
Steadily Forced Lower
on Heavy Selling.
flr Private I-ciiwd 3$ Ire.
S>w York. A off. 17.—The rot ton mnrket
"flit nml point* down on the
brenk in the Liverpool market and atop
ies* selling. Alter tin* cull, tin* list allow
—*“ “ ,4tie on cuv
Th** rottoii market for future delivery In
jCfw York today was u weak nml slowly
(seeing affair.
Liverpool furnlnlioil tho rue, early nil
tins from that renter showing Ueciilei)
frankness in ,both spot nml future* at the
(tart, though jmrt of the decline was re-
catered at the elosc, whloti was unchanged
t<> .1 point* down. Sjmt was quoted f
points lower nt 6.5td tor middling.
t‘n<l<T the Induetirc ij Liverpool * weak
Rms. New York nt the opening showed
a decline of G*f# 10 jHduts and with only
•light necntdonnl mllles prlees eotitltiuetl
d'lwnwartl throughout the session, large
bliM-k* of nil |H>sltloiiN being offered on n
ng
„ offsetting It.
I'p to and Inoludlug tmlny, the amount
of cotton brought Into sight for the
i»u aggregates 10.997.31.' hales, whleh
sure** a erop of over 11,000,000 hales
the son non of 1905-J9u6.
At the elom*. prices showed decline* of
from IS to 24 |*dnts lower, as compared
with v»sterdny's eloae, August sidling below
the 9c
SPOT COTTON MARKET.
Liverpool, sten....
Augusta, quiet at 10Uc.
Smiunsli. easy nt 9 ll-16e.
St. I.ouls. dull nt 10V-
Charleston, steady nt 9 lie.
Heston, ateudy at
Houston, quiet nt 10c.
LIVERPOOL COTTON MARKET.
I.lverpool, Aug. 17. 12:15 p. m.—Cotton,
ipet Intslnesa moderate, with price* easier;
lu'ddling njdands 6.51 d; snles 5.000; Amor-
lean 1.800: speculation and export 500;
r-VvIpts 2,000; American 300.
Future* oiamcd steady.
Opening Previous
Hange, Close. Close
August 5.-N-5.2S 5.27 6/27
August-Sept. . . .6.25-5.21 6.23 a.23
Kept.-Oct.. 5.18-5.14 6.155.16 5.10
IM.-Nov. . . 0 ..5.17-5.13 5.14 5.15
Jim |»oc 6.18-5.13 6.14-5.15 5.10
P.r .fan 6.2 ML16 5.15 5.10-5 17
Lui.-Feh 5.21-5,19 5.10-6.17 5,18
IM.March. . . .5.21-5.19 6.18-5.19 5.31
Man'll-April 5,24-5.19 5.14-5.1$ 5.22
April 5.25-5.20 6,21 5.2J
Private Wire to filbert A Clay.
New York, Aug. 17.—Liverpool opened
d.m n. Win rapcrtnl l'.4«5 il|..
*2>* : “At the opening, nothing
offered; market atendy, owing to good re-
p<»rts from New York. It wns affected
unfavorably by selling of Egypt Inn* and
prominent Arm selling and showing report*
of erop prospects splendid. Haying very
limited, t outlueiit sold very freelr."
Price has taken advantage of the mis-
cel mucous short Interest In Oetotier, add
trying to boost the market.
Taking buyers on n basis Inst few day*,
t Is a most certain Miss Giles’ report will
lie bullish.
It I* rumored McFadden has sold 12,000
bales of spots out of local stock here.
The Journal of Commerce says: “lltiycrs
In tho primary market were less eager for
goods for the day. but the relative tailing
off In trade was not as large ns some fac
tors looked for lii the fitre of advancing
prices for cloth and declining prices for
cotton virtually while the business was
going cm. Many order* are lu hand await
ing the appearance of good* that are now
scarce. The trading Is limited In many
direction* by the iimldllty to secure good*
for quirk delivery, and there are innnv
thing* that show that large quantities
of goods will be wanted liofore the first of
October."
New Orleans. Aug. 17.—Liverpool 3 down
* very |**or; was due 1 up.
Liverpool cables: "We have an unfa-
.■arable opinion of the market; no de
mand."
New York wire*: “Crop conditions ex-
dlent; look* like a bumper. Hplnner* In
different. Expect iiiueh ‘ lower price*.'’
Covering bv satisfied shorts causing
on dines*. Market docs not b*>k healthy,
ud lower prlees are expected.
New York wire*: "No pressure here to
day; feeling improving; g***! spot business;
nnv covering would give sharp rally; think
rl|H>nlng for sumo; looks like Price Is a
• * ’ hiiypr,"
'oduy’a map Is nil that could Ih» desired—
ur and dry with one or two exceptions
lu the western l*elt. and nlteriinte cloudy
and clear, with showers on the coast In
the eastern states.
The weakness of Liverpool mid such ex-
•I lent weather conditions should strongly*
influence lower price*.
Mitchell offers 6,uotl January at 9.49.
Itooiu traders are frying to break the
..j.irket on Miss Giles' rejiort on the theory
that rwmMifnhlr cotton lias lien* IxMight
III nutleipatlcii of It.
In sight for the week. <*oniplled by Super
intendent King. New York. Is 56.80S. against
80,925 IumI week. For season 10,997,816,
against 13,542.748.
Korn hey, Ilenlelrlck A Co., cable from
Iverpool: “Expect a heavy decline.
Declaration of Dividends on
Two Pacifies Caused
Excitement.
ORDERS WERE TO BUY
Sefasational Advance in Un
ion Pacific the Result.
Others Irregular.
CHICAGO CAR LOTS.
Todftjb Tomorrow.
Hen to Wire to Ware A Iceland.
New York. Aug. 17.—Llvcrpmd opened
quiet 1 up on near; 2 up on late. At 12:lo
p. m., 2 to 3 dowu and easy; sales 5,000;
’* down at 6.8ld. Future* were due
io Hi 2 up.
New York market Is dull but very
There has been enough buying
• scattering offerings off the market,
to have a better tone. Look for
•ally, but until condition* 'hange
would self on bulges for scalp for the time
being.
LcsMcr-Coldmrtti Cotton Company, St.
Louis: “There is very little change to re-
port in conditions a* far a*'Missouri. Ar
kansas and the northern portion of the In
dian Territory are concerned, excepting
that we have again had nil excess of moist
ure. This has given rise to complaint*
of too rank growth of the ’weed' mid n
stoppage of frultlug. We do not look upon
this at all seriously, as there Is enough
fruit now on the plants, and with normal
outlier, permitting maturity, we belle
I* to the advantage of the growing er«
a* Indicated In former letters, the eott
crop In the territory named lm* developed
erv satisfactorily during the end of sum
mer, and prospects lor o c«hm| out-turn
still hold good at this wrlGflff. '
New Orleans, Aug. li.-*Mi»rt* are
Ing profit* freely, and the market Is steady
•In consequence. Hulls lire offering no
support, although both New York and Llv-
or pool have I wen wiring bullish messages
t«m»1 cables: “The market Is depress-
, ... . mnequeiice of laur movement*.*'
Weather map Is favorable. Utile rain
and ni'slernte temperatures are shown over
the cotton belt. .
Houston up to date received 26,635 bales
of new cotton.
THE WEATHER.
TODAY’S PORT RECEIPTS.
The- fnllanrlns tnhl. hUoiv. receipt, nt th.
|»ri, t<nU/, vumparctl with tilt Mine dnj
INTERIOR MOVEMENT.
Mm, .iny tn.t year:
PH ICE OF COTTON
SHOULD NOW 00 UP
to The fleorgliin.
A'lgiisqi, Aug. 17.—"Th** price of cot-
‘ I- ns b*w now a* It ought to go.
M. O'Dowd yesterday, when asked
, n > "pinion on flic rottnn question. Mr,
bt*w.| u tin* oldest man on the cotton
rj®,' '""I !"• declare* that the situation Is
^ :, b'* that th" price ought to go
I 1" not believe that the condition Is as
’T 1 'other states a* It Is qiiofetl, and I
''•c ,, eve that the condition In some re-
in Ocorgtn hss Ik*ch luliS|tiotwl."
Werdny. the price fell *Ae, and new
'll- II••!*.•> \% quoted at lOUe for middling,
lower than the price last year at
I>IVIDENDSDECLAR ED
BY TWO PACIFICS
^M'rhate T.onsed Wire.
2 Vork - Aug. 17.—The Southern Pa-
deelnnsl n dividend -«*f C’e pef
*">' >>ii it* conumm *toek. This la the
JJI ‘bvldeinl ever faijd. The dividend I*
,H * senil-nnunal.
I 1 ,' 0 ' 1 Pnelfle has nnnonnce«l a *"inl-
»t,l'b nl '• v blend of 5 per cent on common
and the regular seml-aununl dividend
- F' r »c»»t on |(* preferred st«*'k.
LOCAL FOKECA8T.
STATE FORECA8T8.
, Cieorgla—Fair tonight; local rains Kntur-
4l, ji.*utlt t’nrollua—Local rains tonight and
Hat unlay.
Alabama—Fair tonight and Saturday.
WEATHER CONDITIONS.
outturn**
Fair wokther c
but shewers hav
hours in the Ohio valley,
lantle coast and at
the south At-
. i*l stations In
,» west. A* a rule the amount of precip
itation Is light. Thunder storms occurred
nt quite II iiiiniber of stations during Ihurs
lly ITlvate leased Wire.
New York. Aug. 17.—The declaration of
a dividend of 5 per cent for the half year
on Union Pacific stock* and the announce
ment that Houttiern Pacific had l»een placed
on a 5 per cent basis, were the astonish
ing news” whleh greeted Wall street fif
teen minutes after the oftenlng today. This,
with thp sensational price movement which
followed, will rank the whole episode as
one of the most remarkable in the history
of the st«**k exchange. The utmost that
had been expected on Union Pacific stock
up to the dose of Imslnes* yesterday was
a dividend nt a rale of 7 per rent a year,
and with some sort of extra distribution.
Instead of this, the stork Is placed square
ly on a 19 i*cr cent basis, and tho extraor-
dlnary If not unprecedented fact confront
ed the financial community till* morning
that Union Pacific shares. If measured by
tlie size of other high dividend p^ylug Is
sue*. was selling anywhere from *0 to 60
points ton low. In the case c.f Southern
Pacific, the possibility of readjustment to
the other st'M*ksi selling higher and paying
smaller returns wns hardly less. It wns
suinll wonder, Iherefnro, that the whole
market should, for the time Indue, have
been struck with consternation ns fo what
effect the news should have.
The rest of the market sold off. Hut
the unchrtntnty lasted only for, a brief
Interval, and then enmn n rush to buy.
converging msm tin* Pennsylvania and i .wi
shares, but also extending into other
quarters.
There was nothing to the market tmlny
at the opening of tlie stock exchange, ex
cept Southern J'ncltlr nml Union Pacific.
The opening showed « gain on the closing
prices of last evening. Union Pacific dosed
last night nt 162H. Nouthern Pacific opened
nt 83fi83*i. nml bet won tlicae figures 4.000
shares were traded In. It dosed yesterday
nt R?ty. This morning there continued sonic
profit-inking lu the leaders. The general
notion wns that Union Pacific nml Southern
Pacific were selling high enough on the
bants of the most sanguine expectations ns
to dlrl'lraitl*. There wss a great deni of
dissatisfaction over the failure of tin* direc
tors of the Union Pacific to nnmmucc the
Hcml-nnnnnl dividend ysterdny. There wna
sold to be entirely satisfactory authority
for the statement that the. dividend on
Union Pnelfle common stock has been fully
decided upon, and that notice with re-
apect to the dividends on Southern Pacific
common 1ms also been agreed on.
In *ome circles It wn* even claimed that
the dividends on Southern Pacific would be
nt the rate of 5 per cent Instead of 4 per
cent, ns .has Iwoti commonly reported. The
balance of the market movemeut* were Ir
regular.
There was no need of gossip to account
for the trading movements tmlny. The
facts were enough, nml when the official
aiinoiineeiueut was made' of the declara
tions of the llnrrlmnn dividends the trad
ing In these stock* was more exciting than
has ever 1h**ii noted on the exchange, ex
cept In times of panic. Many brokers had
orders to buy 1.9,000 of these stocks at the
market. Ibmm trader* rushed to buy for
their own neoiint. and after them came a
*tniggle to cover large lines of short*. The
two crowd* Iwennie howling, surging masse*
and little attention was raid to prices lu
the execution of orders. Union Pacific rose
point* nml ftoitthern Pacific 6 points,
Ih*«Ii by fast stages.
Next to the Harrlnc-n stock* the great-
•» strength was shown In Pennsylvania,
which rose 3<4. Price changes In the ma-
jorltv of the stock* were Irregular and un-
rtriln
„ Sugar Itcflning
Atlantic Const Line
Anaconda
American Locomotive.,
do, preferred.,
American Cot toil Oil
Baltimore and Ohio
Brooklyn ttnpld Transit
Canadian Pacific
Chicago and Northwestern
Chesapeake and Ohio
Colorado Fuel and Iron...
Central Leather
do, prefer red
Chicago and Great Western..
Chicago, Mil wn * ~ - - •
lielnwnre and 1
Distiller's Beenrlties...
do,* p^ferwi.V.V...V.
General Electric
Hllmds Central
American Ico Securities
Louisville and Nashville
Mexican Central
Missouri Pacific.....
New York. Ontario and Western......
National Lend..
Northern Pacific
New York Central
Norfolk nml Western
Pennsylvania
People's Gas
Pressed Ktecl Car
do, preferred
Pnelfle Mali
Heading
Republic Steel
Hock Island
do, preferred
United States Rubber
do. preferred
.Southern Pacific
Southern Railway
do, preferred
Sloss-ShcffMd
Tennessee Coal and Irou
Texas and Pacific
Union Pacific
United States Steel
do, preferred
Vlrgluln-Carullua Chemical
do. preferred
Western Union
Wabash
do. preferred...#*
Wisconsin Central
do. preferred...
Total slock sale* tmlny 2.629,W0 shares.
Pnclfltj 488,300.
Total sales Un
RANGE OF THE COTTON MARKET
AT NEW YORK.
Dec. ,
Jan. .
Feb.
9.31
9.12
9.42 ....
9.45 *9.67
I |J
9.21-221 9.40-41
9.27-29 9.45-47
9.31-32 9.60-51
9.471 9.47-481 9.68-69
Closed barely steady.
AT NEW 0RLEAN8.
Sept. . ,
Nov. ’. *.
Dee. . .
Jnu. . .
Feb. . .
March.
V
a
9.27- 29
9.21- :
9.22- 24
9.23- 24
9.28- 29
9.33 35
9.40-41
9.50-51
9.43- 44
9.44- 46
9.45- 46
9.57-53
9.65-66
Closed barely steady.
BEARS CONFIDENT.
OF LOWER PRICES
LONDON 8TOCA MARKET.
12 pniflTn* ICIo*
|2r,-",4ia7i
Th" pri^.ui" rnnitiiiir. Hut nml nlngiil.li
r mortfitiPiil. Tim Inin-iimliT In litKlmni
n-i'f N,w Entilmiil nml lowi.t In Muntnnn
Tim riniilltlmm fnvnr tin* rti-v,.|i>|iiii,*nt of
lorn I tlmmlrr nhuni'm In tnl» mi'll
nlulit nml Knt.tr.lnj-.
Aiimrli'
i<l lint.
WEATHER IN COTTON BELT.
Ti'xnn—lloimtnn, IWIta, «t»l *nn Antnuti
rloni' ini'l wnrm. TJ'Ut nun Fort Wortn
rl.ni' nml lint.
MlMlHjiipl-IInllT KprliiM. Aiimirrn.
Aiiiott, Tu|inK> mnl New Allimiy elenr nml
ll, Aii.1mmn->t"iit*nnmry ••'.■nr nml 6"' ,
I,tin nml Op.'IIUn i lnni- nml wnrm. ttelran
pnrtlr I'lnmlv nml wnrin. Itlltit.vlll
nml imt. Mnl.tln ntiimly nml tint.
Cnnieln—.Mill-oil linin' nml lint; hurt ratii
I'..tmlny nftnr
will in. Allmiiy
pnrtl.v .■Iniiily nml Jmt.
North t'nrnllitn—tlriH'iinlmm clnmly nml
nml: .nml rnln tn.t nl*ht. Flinrlntte
pnrtly nlninly nml iili'imniit; hart rnlu yon-
ti'Plny nftnriiiKiii.
WEATHER IN WHEAT BELT.
Uxtiviiin Nnrthwi'Ht- llnm'rnlly fnlv. with
Tnliw Irinpmitiirr; 4-' t—
Xnrthwnnt—t1«r. Srtmr
'\vc.t' nml thinthwent—tleimmHy nh-nr nml
wnmmr; «!tn 7« nUnvn; now rnln-
tin. III OktnUmnn: Infill rnlim Iti Inwn,
WEATHER FORECAST.
tienrirln, WMteni Florhta nml Ahili.imn-
Ijm-hI rnln, nml thiimlnmMriiin Frhlny nml
Kntunby: Ht-ht wlmln. mmitly nmiili.
! oulnlmin nml Mlwlnnltipl—tnwnl rnln,
Krhlny and Baturtiy; ll«ht wlmln. nmnlly
"vinn't Tnm%—Fiilr Krtilny not JatnrRy:
warmer lu northenrt portion f’Hdny; light
south wind*.
Waste
""Ar'knnwt^lmfnl rnlnn Frldny nml Hntur-
day; warmer In western portion Frldny.
Texas—Isaul rnlns Friday and
GI BERT & CLAY
*• 1 ALABAMA ST.
ATLANTA. CA
corvee. PROVISION*
MCMDCRU
*Mr \nrk Coffes ExcU*nge.|.\ew Orleans Boonl of 'lrnfle.|t»nliest«m «-oiyoh r.xLan.ig»
^ecal and Ltnfi DlsUnci TslephcncTMJa? W. R. FAGAN. MsnitiaB
\
! 9tvi 95 I S
|*ae|fle (166tX'167H'1fl
....I. and Ht. Paul 1R7MUR7H 18
Krle., ! 4345 43^1 44*4,
I Him s t'entral il75Ul1745ill76H
Louisville and Nashville. . JWljJMWj
Bending 1133 H32Hll»l*i
Pennsylvania ••••1*2^1^
Southern Pnelfle ;
t’l.i.i.i i>n< 'iii. • ... ,,,,, ,|16:!t*^ll68 i l'2t* v
ended at itl**ut -the el«»*lng nflee* of \\i*<|
nesdav. The recovery wns traceable large-
covering of shorts anil mare or less
buying on the theory that a rnlly
life after tin* severe dec lilt* nml dnjs-
..qulilntlon of late, especially a* the
short Interest Is eonsldered large. Liver
pool sent somewhat better advices than
expected, nml the market here opened a
shade higher. Hut leading Interest* again
sold freely, niifl prlee* soon weakened slid
declined with nami traders selling. Hpo
Interests sold. t'*>, mid the Houtli sent
large selling orders. The weather wns fa
vorable In the main, and the crop re|M»rts
were of nil eiMiMirnglng tenor, iis n rule,
though some eoinpIniutM of Insect damage.
received from
a slow rally set In.
* ,»y shorts, Ineludlug
some of the more proinlnoitt nieuilH'— •
shedding.
s<mtliwest. latte,
owing to eoverlng
COTTON REGION BULLETIN.
For the 24 hour* ending nt * a. m.. 7
no* rid In u time. August D.
STATIONS OF
DISTRICT.
•Atlanta, clear. . . .
•t huftnnoogn, clear.
••Columbus
Gainesville, clc*ar. . .
Greenville, cloudy. .
Griffin, clear
•Ma'am. |>. cloudy. .
Montleello. clear. . .
New iiiiii. elenr. . . .
ffome. dear, . . . .
Spartanburg, eloiidy.
TallaiHHts-i. elenr. .
T.H-eon. elenr
Went point, elear. .
if!
•Miniiiiiim teiiiperatiues are fm
hour perlo'l ending nt 8 ir. m. this
••Missing.
HEAVY UAINFAI.LS.
Charlotte. N. C
HoblenvIJIe. J. T..
CKNTRAL
station.
'»|St. Average:
Atlanta ! 13
Augusta j 11
Charleston 5
Galveston ! 29
l.lt.tl« ll'M*k 1 15
Memphta 15
Mobile I
Montgomery ' W
New ttrlcnu* ! 16
Oklahoma ! 11
Kflvannnii i 18
Vbksbnrg I 13
Wilmington. . ■ ■ .1 11
T" Indicates Inapprednble rnnifall.
Ii|
Hi
nlmi more or
turn on tlie long side
by those who l*ellev»*d that the market wna
entitled lo. nt least, a temporary upturn,
a view lu whleh even some of the l»ear*
eoucurretl. There are few, however, who
have faith In more than a moderate re-
eovery. and even that mar not oreur. Tlie
weather and erop reports are so very gen
erally favorable that the bears are ap
parently as ctMtlhletit as ever flint the mar
ket mi st decline to a lower level.' —t.lbert
Ae Ulny.
New Orleans. Aug. 17.-«The Time* Deni-
mTiit: “On the surface, the talent gave
but a passing thought to the development
of n distinct note of jiesslmlsi)) In sonic
of t h<» cotton field reports nml a furl her
decline was recorded, though a mid session
reaction caused the recovery of part «»l
the loss and cheeked the rampant etitlmsl
asm. tin the whole, professloaal*
Just about ns bearish
small coinpnny of
Ing recruits slowly
the turning imlnt ■
NEW YORK COFFEE.
New York, Aug. 17.—The coffee mnrket
opened nt a decline of 5{f!0 points nml
eased off still further on one or two |h>sI-
tlons during the forenoon, und nt uilddtiy
were tfifS point* net lower. The deellne
wn» due to the renetlonnry teudeney of
the Knro|ieiin markets, which In turn was
thought to arise front tlie dlsnpiKdntliig
Mhowing of the primary mnrket*. Trailing
here was much lea* active than yesterday,
mid sales for the first half of the session
ere nlHitit 14,000 bug*.—Gllswt Sc Clay,
Following were the opening range and
oso In the New York coffee market to
day:
B.r Private Wins to filbert Sc Clay.
New York. Aug. 17.—.Mar shall. Spader
& <*«.: Whatever the market may do t«»-
or tomorrow tindei* existing In-
nee* we shall consider the time right
long eommltmenta on any good op
portunity. We believe fiiiutaiiieutal* nr#
vimiig enough to ilo/nhmtc casual l»»-
siuciii'CH ami look for «•»«>'! support to the
market and higher prlees.
liuw-JoDeH A Co. say: “Union PscUlc do-
elnrod 5 |H*r cent dividend, payable *.»n»P
aniiiuilly.
Ibtr 1*4. Paul for a turn
The Flei'.uelal flurcxu says: fieenuse
the action in regnrd to the flnrrlmnn Pa
cifica ns (o dividend* has been postponed
Is no reason why the stock* should de
cline. for tt Ik practically certain that the
dividend on Union Pacific wlH be raised,
and that the Initial dividend on Boutlieru
Pacific Is near. This group ts only otic por
tion of I In* stock market, and there are
at present mAllidlcnfloii* that the IIiiitI-
uiaii party lias relinquished II* bull posi
tion; In fact, we understand *enfo-down
buying orders will lie met from llnrrlnj
interest* on extension of recess’
think the Morgan Interests may nmv take
up their Issues, for good buying has, lieetl
taking place therein, cud Morgan broker
age souses of exclusion are biilllsli* oil
th" list. We continue to believe In the
policy of specialty improvement, which
seems best lu view of the money status,
while as to the general list we would
maintain a neutral position, mid try for
a short turn In stock* that appear vul
nerable, but only selling them when strong.
We wntild remain ronservalively hopeful
ns regards the general market.
The declaration of a 10 per cent basis nml
n 6 per cent bnsls dividend for Union Pa
cific and Southern Pacific, which euiis-M]
wild excitement cn the floor, while Mice
criticised for the manner of- disclosure. Is
regarded throughout the street n\ one of
the strongest bids for - public Investment
mid speculation ever made In the street,
and It Is Indlcvcd tlmt. money permitting,
one of the greatest markets witnessed will
be realised in the not distant future from
policy of banking elements Itchlnd the
"T.
Caused a Sharp Upturn ir
Wheat at the Opening
Today.
CABLES WERE STRONG
Shipments From Argentina
Small, Which Were Addi
tional Influences.
Pennsylvania.
Increased dividend In
lower. Russian
Nmv Ht. I^iill stock Issue of 125.000,
permits holder* to subscribe for 2.1 ;
nt at par. At 1S7‘,4 for sttwk rights :
nrth $16.26.
Following n wenk close, further re
urn can be expected, although there Is
don Id of Hnnthrru Pacific going on
... - , —, nndltlmis.
lid If Mold down ettu be taken on. it Ion x
iirli Atchison. Mlwm-I Pacific and other
low-priced rails and Industrials.
* g'Mnl bank statement Is expected, but
me *“ L 11
Is held very stiffly.
Dow-Jones' summary:
Amerfeuii *toeks ill l-nii'Inn be
parity
n July 1 and
United Htates revenue betws
Allgust 16 Increased $9,683,791. With
crease lu expeuillture*.
Re|*»rts of terrorist disturbances from
ItiiMsIrt on mi Increasing setile.
Hteel sales a gen Is reports extrnordlnary
demand for iaw material.
Intel borough Metropolitan I* now earn
ing full dividend on preferred stock.
St'wk* ideiitlful Iii loan crowd.
Gain of banks from sub-treasury partial
ly offset I lug lu** to 8t. liOttl* aii'l other
point*.
Loudon stock market closed tomorrow.
All reiMWts Indicate sup«*rlor quality of
* wheat.
January
February
March
April..
May
June
July
August
geptemlM»r
Oetolvr
N'»veml»er
Itecember
Closed steady.
T.2»
.. ..7.»-7.3i)
. ..7.35
.. ..7.40-7.50
.. ..7.50
....7.60-7.60
.. ..7:55 7.60
. .6.95-7.05
.. ..6.JM-7.0fi
. ,.8.95-7.00
.. ..7.00*7.16
.. ,.7.15-7.20
7.35 7.40
7.40-7.4!
7.46-7.50
7.5ti-7.55
7.55-7.80
6.95-7.0.1
6,90 7.00
7.00 7.10
7.107.15
7.15-7.2
GIBERT & CLAY’3
DAILY COTTON LETTER.
New Orleans, Aug. 17.—f.lverpiHd advices
*rv numeruusf and
•<>rd In favoring a lower range of
•wing to the splendid crop prosper
MlllCN,
III.
snd the
alive* I* gain-
noiigh. Just wlie
deluging l.lveriMMd with
orders to sell the stuff the foreign mar
ket will evidence some kind of a reac
tionary tendency. Then, too, careful stu
dents of I lie
conditions lo
speculative
beneficial Influence
for the reason that
bast*' broaden In* far torn are ru
„...l none hut radicals lndleve the Interior
will follow option fluctuation* to •»*• lim
it of speculative endurance, flbotild the
farmer again stand pat, the about-face
will come In short order solne day. but
meanwhile setting the other man's proper,
ty l* n very entertaining ITttle game, and
It Is not worrying anylaxly either. — Warn
COTTON SEED OIL MARKET.
With the break In
ii Increased Inquiry
for ronmi iota of re«l and hard winter
from tlm eastern aenlmnrd and from mill
ers. Most of the bids were suit of
lints, but sales In all nnsttloiia were l'si.-
0.10 bushels. Including lto.OD No. 2 rail. 10.-
« No. 1 imrthoru nt equal to VM over
sptemlier In afore and 1W mlxeil lota,
gale* of corn were 250,009 nml oats ,0,000
at the seaboard. • .
Kxport business In wheat wn* 200.000, and
iMNNdldy more, ns sab* were not nil re-
porfcl. Then* wns also 80,tV» «.*orn nml
100,00.) oats.
lack of ilennimi for spot cotton and tlie
free offering* ef I4ith Rrltlsli and contl
neiitnl Interest*, tiprbm* closed 1 b
IMilntn down, while »|*>! trnnmii'tlnnn w
qiloied 5 points lower, sale* 6,000 bales.
Opening pries* were uniformly lower.
uniformly ..
. ... „ » nrevallliig liiflueiiev
bearish diameter, but Inter and Up to
responding to the
Donrlsli diameter.
Git* time for the l*siinnre of the Giles
port the market recovered tin* greater part
of the morning’s loss on the reported heavy
haying iii New York, which canted nervous
short* to nivr freely In uiitldpntlou of a
furl her reaction. The Giles report for the
half mouth gave the condition at 82 against
82.7 on the first of the month, nml there
then ensued considerable l*><irlsh activity,
principally on account of tlie dlsnpnplnt
ment of the figures, many expecting the re
port to be bullish. As n result of till* see
sawing of market prlees. considerable activ
ity war Instituted, bringing with It the
more general Interest of outside npccnln
♦l«m. Fundamental Influences, however
have In no wise changed, and as long a*
SOUTHERN JXCHANGE
Oldest E-tabllehed Office Bonth.
conoil—STCKS—BOHOS—BRAIN
Ground Floor Gould Building. Dally
mnrket letter ntid market rmmonl
mailed on npp’b’ntl'T.
L J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, GRAIN
Correspondent's Capital $250,000
I’harlotte, X.
PIIVIIU*. I. T.
J. IV MAUItUUY.
fleetlou Director.
Item Orleans.
WARE & LELAMD
coitonTgrain, provisions, stocks, bonds,
He. 2 Wan SI., Atfaala, C».
Ifew fnrk Catlen taehany.
Mew Orleans Celtea tnckant
KtkBlKS:
Ckicage Beard el Trade.
Hew Orleans Callen Ittfangt. Ckleaje Sletk li(kanje.
lit erneat Cettea Asterfalle*. Hew Tark Celle t ft change,
hlsate Wires la Mew Vert. Mew Orleans. Cftlctf*. B. C COTHMAM. Waaaeer.
Itli Skene 1X2.Standard Skem
ATLANTA MARKETS.
FRUITS AND PRODUCE.
Offlelally corrected by Atlautu Fruit am'
Pnsliicc «*X''lmtige.
launous. $4.754r5.oa
Limes U\ to ’.;m\
Ueadies. per crate. D.fltl*$|.W.
llneapples, $1.60 to $2.60.
Hauauas, straight*. »-••• hunch ll.M to
11.75. Culls, per hnmtt, St to $1.25.
Wntenueh***. $7.50 to $20.00 per 100; dr.
maud nasi.
POULTRY AND COUNTRT IMIODUCB.—
Live Uciis 35 fa 37Vie: fries 22'/k to 25c:
broilers 15 to 22V£c. Live ducks, Pukttt 2)
tu 33c: puddle 25 to 27$|c.
DrcMed lieu*. |»cr ll».. 12c to 12c.
Kg::*. |H*r daxeii, 20i*.
Hiittrr, table. |M*r lb.. SO to 22 ( /kct cook-
lug, |ier lb.. 13Mc to 15c.
floney—Now »4fl0c lb.; In 1-lb. racks W
«12c.
VKGKTAOLR8—Irish potatoes. No. 1
tit'M'k, $2.50 barrel; |H a r biirliel. 9>e.
itiilmi*. $L50 bushel: cnblwige. 2c pouud.
new sweet jKitatoes $1.50 husheL'
FLOUR. GRAIN. PROVISIONS.
FlAJUR—Post el* Patent. $6.00; Diamond
tMitent, 86.50; Mnsi'mitnli Ktar, $4.65; fancy
patent. $4.iiu; Red Kaglc. $4.40; Hiue ItlblMiu.
$4-00; fancy, $3.lw; apring wbv-at pateut, $3.23
i $5.15.
COICN— Choice
H.v Private Leastnl Wile.
Chicago, August 1J.—Wheat was ir
regular and unsettled. It xxoe'up early
«nd down before the -close. Lopg hold
ings came out freely on all hard spot*
to develop. The close showed declines
of 3-8 and l-2c for wheat, 1-4' and
3»8c for corn, 5-8 and 7-8c for oats and
2 1-2 and 27 l-2c for provisions.
rash sales here were 12,000 bushel*
wheat. 90.000 corn. 120,000 oats. At
the :>cnbonrd eleven loads wheat, nine
teen loads corn and 200,000 bushel*
outs.
Clearances for the week: Wheat,
2,827,000 bushels and corn .523,000 bush
el*. compared with 1.004.000 and 1,177,-
000 bushels, respectively, a year ago.
tinny of those who bought early were
sellers late. The volume of trade wn*
la-ger In nil the pits. The weakness
In corn was ngnlnit the wheat price;
CHICAGO GRAIN MARKET.
grain and pmrlidotis quotations
High.
70%
4S-%
I
I
47
43%
41V*
I
73'i
17%
47% 48
ii M
82?
Open.
WIIEA'J -
Hcpt 70\
Dec 73%
May 77%
UOUN-
Sept
Dec...... 44^
May 44%
OATS—
Wept 30*4
ihlc ml
May 2.1%
POHK-
Hopt... 17.05
'■in.... 13.50
LAUD—
Kept.. 8.70
Oat.... 8.77’,a
Jnu.... 7.87%
HIDES—
Kept.. 8.97*,*
Get.... 8.75
Jnu.... 7.22% 7.22%
t'AKII XVI IK AT—
No. 2 red 70%®72: xo, a no ai
2 bard winter 7tM4f/70%; No. 3 do 6»VPS70V4.
17.00 17.00 17.271*
13.32'A 13.32 Vk 13.50
7.00
S.97H
m m
7.85
8.90
8.70
8.75
7.W
8.95
s.s7lk
8.70
7.22%
No. 3 do 70%«71: No,
7.12
LIVERPOOL GRAIN MARKET.
'•ob. 76cs No. 2 white,
OATH
bite, 60c; choice
proof, 50r
nixed,
lipped,
I. 48c;
Tex** mat-
Wheat—Opened %<• higher; nt 1:30 p. m.,
%1t\c higher; closed higher.
Corn—4t|»enc<l uncluingfl: at 1:30 wns tin-
clitingcil and closed %c higher.
NORTHWEST CARS,
The follow'ing figure* g|r* the north west
car* today. Inst week nud last y#nr:
La*r Last
Today. Week. Year.
'PRIMARY MOVEMENT.
The
imvemoiif of wheal
Wheat—RcrelpIs t»»da.v
owing t figures give the primary
661,010 bushels,
ngnmsi HR..1RRI imini:<*im m*i year. Shipment*
today, JIO.O)') busIieH, against 457,000 Iiusb-
els last year.
1'orn—R'Milpt* today 103,000 hiishel*.
nngluMt 508.0IM bushel* last year. Hlilpmcnt*
t'Hlay 444.003 lm*hels, agaliiNt 467,003 faisbcl*
Inst year,
THE, SUGAR MARKET.
MKAL—Ittnlu water ground, per bushel,
e; ludte<l 140-11*. Jut***, per bushel, 6&4-;
Slmrts, white. $1.6u, iiietlimu. $1.40; brown,
$1.35: pure I ran. $1.10; iiilxml bran. $1.(6.
llAl.-TImotlOV ej;,*ire three Imtes, fl.JO:
do, rliolce small bale*, $1.06; do. No. I
timothy bale*. *1: do.. No. >1; do.,* No. I
clover mixed, $1.00; do. No. 3 closed mixed,
t’l.OVKIL-Chide# 90*
Tha above prices am- *. o. b. dXtlaat*, and
object to immedlnt* eee*»ptnnc*.
GROCERIES.
RUGAR—Ktnndnrii mauuhited. $5.20. New
York Refined, 5VJ; plantations, 6%. Mnrkel
**wy strong
CO FFKK-Roasted Arhuckla'a $I6.G0;
bulk, lu bag* or hurrels, 13c; green, 10 to
CIIKK.HE—Fancy full cream *ln
twins 14c; brick. l4c. Mnrket srrv
Hv Private I .cased Wire.
Now York. Aug. 17.—Lornl refined and
•.»w sugar uiichnuged. London I wet firm:
August up 1% to 9%«J; Kepteuitier up %d
to 8m 11*4*1-
CRUDE OIL QU0TATF0N8.
H.v Vrhntc tinned M'Ir».
Pittsburg. Aug. 17.—Credit balance quota,
tb n* for entile oil of the various grades
are: IVniisylvanln 158, Tlonn !68. Rlcldand
176. Heeoiid Hand l.'S. Newcastle 135. Corn-
lug IF*, Caf'ell US. North Lima 92. Prfu«*e-
toil. I nd., HU, Kent It Lima 87. India tin 87,
Homerset 87. Raglan 60. Casey, Ills., 61,
Kiimn* ami Indian Territory 42.--
No
trade
In domestle
hnm* were ndvn . .
unlly ndvnnelng prlee* are reported In th#
raw silk market. Trade at first hands
showed some halting fli sympathy with a
r#tHirtw| today, and especially
dress giMHl*. Southern glng-
* ‘ %e per yard. f»rm|.
III... W0.M: fit tmvkm. V: rt«lw. So;
ffnnrom. Innl. W.75; Uni Cron. 10o. Snow
Urlft oiiiniiomiil. 7Vo: Hiol crow. J«ic.
u; i :i*z^'£E&aannBEsmniiBrBiJSB
CAPITAL, SURPLUS AND PROFITS
OVER cm MILLION DOLLARS
Foreign Exchange, Travelers’ Checks, Brown
Brothers’ Letters of Credit available in all parts
of the world.
LXOBSnSSS
Wil. I. I-KKU I’r.-Irtil»lit.
uoirr. k. Maddox, viw-rw*.
THUS. 1. PBKI-I.KS. Cnabl.r.
JAS. (i. I.K8TKU, Ant Co.lil.r.
MADD0X-RUCKER BANKING CO.
CAPITAL $200,009.00
SURPLUS AND PROFITS .... $500,000.00
* ACCOUNTS INVITED
XVe invite nccountB of individmdR, corporations, banks
and bankers and offer tlie Ixat terms ooasistent with
eonfiervatlvo banking.
of S 1 -2 p.r
(J