Newspaper Page Text
EDITED BY
JOSEPH
B.uvelyI THE GEORGIAN’S RECORD OF MARKETS AND FINANCE )
Mr. Lively'* 28 year** experience
>t editing market* In Atlanta and
tlie South has made him a rec
ognized authority In hi* specialty.
RESPONSE FEEBLE
TO BETTER CABLES
First Prices of Session Were
at Advances of Only
Five Points.
NEWS AND GOSSIP
Of the Fleecy Staple.
SOLD HIGHER LATER
Profit Taking, Favorable
Weather and Crop News
Turned Prices Down.
By Private Leased Wire.
New York, Aug. 22.—The cotton market
bad a poor opeulug In view of the cable*.
First price* were 5 point* higher. Pro
fessional trading predominated early In the
session, and It looked ai though strong ef
forts would be made to force a number of
The opening for cotton for future dellv-
srv in Now York wna disappointing In that,
irhlle an mtrauce wna noted. It wai not {i
followed the opening, the high point of the
The New York Herald. In Ita review
of the cotton market laat Saturday, aaya:
•Some Intereata protest to have confl-
*iu linin' a. the maximum figure,
under the circumstance* It would
that a mlraculoualy flue condltlou
must prevail from now on to give up a
crop ii million bale* larger than the last
one. In order to raise 13,000,000 nates from
this season's acreage. It mean* that
nrr» must l»e picked and every acre pr
29) iHiinidH. flow much likelihood th<
of the
It menu* that every
-* — produce
__ mere 1*
iiytiling of the kind can lie deter*
mined by eomparlag thla season with that
of two years ago, when the average yield
was 223 pounds to the acre, and the crop
condltlou throughout decidedly better."
SPOT COT! ON MARKET.
Atlanta, quiet at 9 7-16e.
Now York, quiet at 10.10c.
Liverpool, quiet at 5,44il.
Augusta, quiet at 9ftc.
savannah, steady at 9S-16C,
St. |,oula, quiet at 10c.
Boston, quiet at 10.10c.
Houston, steady at 9ftc.
Baltimore, nominal at 10c.
Galveston, quiet at 9ftc.
Memphis uiilet at 9ftc,
Norfolk, steudy at 9%c.
Mobile, dull at 9ftc. ^
New Orleans, steady, 9%c.
New* York. Aug. 22.—Liverpool opened 6
up. Expected 4«6 up.
Liverpool entiles: "Market has good
dertone; nothing offering, with Improved
maud fronUsidutiera.”
Carpenter. Ilaggot ft Co. say: "The fset
must not lie overlooked that this short
selling has been going on since Decent!>*r
was selling at lie. so that, with all other
things equal, the shorts have the advantage,
nml there must lie sdmo decided change
before a bull campaign can he conducted
with success, and we favor operating from
the short side."
Dick Bros. ft Co. say: "Under the c!r-
cuius fauces and on technical snecuf
grounds alone we can see how this market
could Jmun over a half cent n pound
quite readily before the sad of the w’cek,
no matter what the expectation may be
regarding the next bureau of the census
report.
Mitchell offered 500 January,at 10.28; Weld
took them. Weld brokers good buyer* on
opening.
New Orleans. Aug. 22.—Liverpool 6 high
er is a shade hetter than expected, an ad
vance of 5 points being due. and Indicates
a readiness to respond, to any further mod
erate gains recorded In e!»-Atlantlc mar
kets.
Liverpool cables; "Market has advanced
In consequence of less favorable crop nc*
count*, reported serious damage by rains,
market will advance, and purchases can be
made cheaper now than for tome time to
come.”
Waco, Tex., wires: "Crop continues to
*|1 maintained on scattered buying for a
turn. t
Map show* widely scattered rains over
belt, with elondy weather In the western
portion, snd alternate clear and tfloudy In
eastern.
Liverpool better than expected, and nu
merous bullish cables may cause a higher
market at opening, although crop news
•hows no falling off from the excellent
tenor previously maintained.
A. dispatch from Brenhnm, Washington
county, Texas, says: "Showers bare fall
en again here today, and In some localities
weevils are reported as doing considerable
damage. Some farmers say that the crop
is made now, hut that conditions
.... in n of nt Iciint 13000 000 hales ** made now, nut tnnt condition* are not
II.. more conservative estimators regard
LIVERPOOL COTTON MARKET.
spot demand increased, with prices l —„,
middling uplands 6.44a; sales 7,000; Amer-
-Icnn 6,300; speculation aud export 600; re
ceipts JO0, all American.
Futures opened steady.
- Opeulug **— , ~’“
Banr*
i steady;
August. . . . ■
August-Sept. .
kept.-Oct. .
Oct.-Nov.. .
Nov.-Dee
I»ee.-Jan. . .
Jnn.-Feb. . .«
Feb.-March. . .
March-April. .
Aprll-May. . .
Closed quiet.
Close.
-6.17 6.1K
, ...6.09-6.11 6.08
fUl
Eg-
..6.03-6.06 6.02 4.99.
.6.00-6.03 4.99-6.00 4.96
.•.6.00-6.02 4.99-6.00 4.98
•au
6.02-6.02
6.03-6.04
TODAY’S PORT RECEIPTS
The following table showa reeelpU at the
New Orleans. • •
Galveston. . • »
Mobile.
Havsnnah. • , .
rharleaton. • • ,
Wilmington. • »
Norfolk. • v • •
Boston. . . • • •
Philadelphia. . .
Tout. , , .
INTERIOR MOVEMENT.
. The following table showe receipts at ths
Interior towns today* compared with tbq
same day last y*ar:
Houston. •
Augusts. •
Memphis. ,
a - "
l
L. J. ANDER80N & CO.’S
DAILY COTTON LETTER
“nneavored to raise tne price or
infs morning hy opening steady at i
vnnee of T points, which advance
maintained op to the 2 p. m. call. Bn
'ork responded only feebly, and aftqr an
«*arly advance, prices sgaln began to sag
"fr. Liverpool losing the biggest part of
>Js gain. Heavy rains were reported
throughout tbs belt, bnt otherwise the news
°t the day was featurelesa. Complaints
weevil and shedding are also reported
ji-oin some sections, but the bulk of the
^enr during the next month, we continue
}o believe It dangerous to eell abort at this
*5 T /h , Cotton at 8ftc to the farmers (a
I 10 Kolng to flood the market unless a oer*
J»iniy of 14.000,000 bales Is shown, and
Just now that is a decided uncertainty.
THE DRY GOODS MARKE*T.
York, Aug. 22.— 1 The dry goods mar-
as firm with au active trade going
p >n the Jobbing houses. A white goods
V* was the feature of the day’s misl*
and a Urge volume of goods waa
k*»t
H^ry^wIthln JhhrS <1
moTt>d.
fll - * , ’* r <*. Cotton yarns were steady on
; n * pner numIters, bat week on the coarse
hiinWre A moderate business wae doing.
LM® bale# of 3.50-yard sheeting have
f T** n *°‘d for Hail Rea ports, and nn ac-
^uth American east coast trade Is
,R l ,r, *gre»s.—Olbert ft Clay.
now In the plant, which, with favorable
weather, would increase the yield consid
el Waco, Tex., wlrea; "Rains delayed open
ig, picking and marketing, but 119 seriouL
...image, although worms and weevils are
doing some dnmnge. Crop In Texas Is a big
one. '
Greenville, 8. C.. wlrea: "Crop Green
wood to Greenville spotted, bnt generally
good. Weather continues Ideal, and crops
improving dally. Carolina ten days late.’ r
Private Wire to Ware ft Leland.
New York, Aug. 22.—The market opened
steady 4 up. At 12:15 p. tn., 6®7 up. and
very steady. Sale* 7,000 spots, 3 up at 6.44d,
Future* due to come about 4 up.
Cotton opened disappointingly.
Weld broker* heavy lrnyers.
Commission houses sold. . ‘
Weather map looks good again this morn
ing. Trace of too much rain In Georgia
covering by weak aborts. Cun fee nothing
t<f bar cotton on, however.
Hehfll hammering the cotton market snd
dM
46S un on both mtrkrti, th.nfor., op to
now the Encll.h fnture nuirk.t vru rerj
farorahle. Brim more farornble, howorer,
w«. the better .pot demand.
The weather map ahonj Terr little rain
belt. Temperature! are
orer; the cotton
moderately high.
THE WEATHER.
LOCAL rORECABT.
WEATHER CONDITIONS.
In Montsna, where the pressure Is only 90.00
Inches. Over the rest of the country the
pressure la low. flat snd sluggish.
The temperature has changed bnt little
except In tne upper lake region, where it Is
northern border of the United States snd
at a number of stations In the Itocklea.
The sluggish eastward drift of the atmos
phere Is favorable tor continued wsri
weather In this section, with acattere
* t and Thursday.
. B. MAItBURY,.
Section Director.
CHANGES SMALL
• AT THE_0PE1G
Commission Houses and
London Were Heavy-
Sellers Early.
CAUSED THE DECLINE
After First Few Minutes
Quiet Buying Stead
ied Prices. u
By Private Leased Wire.
New York, Aug. 22.—It was difficult dur
ing the first two hours of today’s trading
to dlstlu;:u!sh any tendency nt all In tlio
price mo.euient, For the entire morning,
the tide of speculation moved restlessly
and fro. At Intervals, creditable
strength was shown; nt other times It ap
peared that realising sales were sufficient
io* fill Overy bid of speculators anxious to
renew the rlae. Generally, the trading by
comparison with the previous day* was
more subdued, nnfl the nuigo of price*
was much narrower. The feature of the
morulug was Great Northern preferred,
which was bid up violently 10 poluttf
from Its opeulag figures. Northern Pa
cific rose briskly in sympnthy, and the
near association jvhtch these stocks
RANGE OF NEW YORK STOCK MARKET
AmaIgniuated Copper ...
American Sugar Refining
Atlantic Coast Line..*-
Anaconda
American I.ooiSnotlve
<!<«. preferred
Atnorleun Smelting Refining
do, preferred
Atchison ;
do. preferred
American Cotton Oil
Baltimore and Ohio
Brooklyn Rapid Transit
Canadian 1‘nclflc..
Chicago and Northwestern....
Chesapeake and Ohio
Colorado Fuel and Iron
Central Leather
do, preferred
declines. Elsewhere, net changes on
community was one of profound uncer
tainty.
In the stock market opening changes for
the moat part showed irregular fractional
change*. Union I’nclflc opened off but
recovered its loss. Declines aa a rule
eraged \k to Amalgamated Copper „_~
ed nt g gain of % to 1WV4. then rose to lOoW.
The stock market’s principal topic of dis
cussion is of the Great Northern ore deal.
Houses that have been hear/ buyers of
11111 and UnrrUnan stocks, and also of the
Steel shares say that an announcement in
regard to the ore contract Is very close to
hand and may be mado today.
Ixmdon today sold 60,000 to 70,000 shares
and commission houses were heavy sellers
of the list. The supply and pressure from
these sources caused early declines ranging
from small fractions to a point, but after
the first few minutes there waa quiet bnt
persistent buyltig all around th* room. The
volume of business in the first hour fell off
again.
Governments unchanged. Other bonds are
Irregular. _
LONDON STOCK MARKET.
raiiauian rsrinc.. .. .. .
Chic. v Mil. and 8t. Paul..
miuM* ^entrar.r".."
LotilsriHs and Nashville.
Heading,. •• «• •• .. ...
Pennsylvania
Southern Pacific
Union Pacific.. .. .; ..
United 8t«toa Steel
do, preferred.. /. .. .
8TOCK8 AND BONDS.
Distiller's Security
Eric -
do, preferred
General Electric
Illinois Central
American Ico Securities
Louisville and Nashville
Mexican Central
Missouri Pacific -
New York, Ontario and Westert ...
National Lc ’
Northern Pa.
New York Central..
Norfolk and Western...,..,
Pennsylvania
People’s tins
Pressed Steel Car
do, preferred
Pacific Mall ...:
Rending
Republic Steel,
gonthith Parian
Houthcrn Railway
do, preferred
Slosa-ftbeffleld
Tennessee Coal and Iron
Texas and Pacific
United Whites Steel
do, preferred
Ylrglula-Carollan Chemical ;
do, preferred
Western Union
Wojuish
do, preferred
Wisconsin Central
do, preferred
Total stock sale* today 1,663,900 shores.
AT NEW YORK.
AT NEW ORLEANS.
The following Is ths range In cotton fu
ture* In New Orleaps today:
i
s’
a -
k
3
n
2S
?
u
8'
1
1
3
11
I
5
u
Aug
Kept
Oct. . . . .
Nov
EE*:;::
Feb
Maryh. . . .
9.10
9.17
9.18
9.27
9.39
'll! 96
9.16
is
' 9*.ii
*8.18
9,5
9.14
I'.Ti
9.22
'9:22
'8.89
9.06
9.14
li
"tM
8.76-80
8.87-89
9.05-06
9.11-13
m
9.30-M
9.35-26
8.80-88
8.91-92
9.0S-09
9.18-15
111
Ang
Kent . . . .
Oct
RE::::
Jan
Feb
March. . . .
9.62
1:3
* 9* i&
9M
■9.33
9.66
9.23
0.18
* •* i 1*
Ml
’9.36
9.62
{.§
9.08
'jes
eft
».*
9.66
9.17
8.10
9.19
*9*28
9.6643
Jlo-ii
9.13-12
m
9.21-21
9.28-29
9.6040
B 16-17
9.11-12
iE
9.22-23
9.294)
Closed harelv steady.
Closed steady.
TIPS FLASHED
Fr.m Wall Street
WEATHER IN COTTON BELT.
T«i«»-Tjl.r clear soil irerm. Dalln,
.irtljr cloudy and worm Hou.ton rult/'-
clmidr end plceeent. Fort Worth cloud
reined leet nlfht. Ben Antonio elondy *i
W Teiee Relnfell—Dallee. M; Blenco tree;
OrecnTllle .41; Kerrrllle ,<M; temnnee* .It;
I/onfrleer .45; I.ullng .41; Moxlo .(B: Nero*-
dochee .19; Perl. ,04; Hen Marco* Hher-
inen .19; Teylor ,M:> Temple .09; W.co ,50;
Wexthitchle .90; Weatherford .99; Wharton
.01; HnntSTlllc, Oelrcxton and Hen
, °Mltileidpn , |—Yexoo City pertly cloudy and
_ot. Netchci rlrer end trnrtn: tempera
ture 93. Jeckeon eleer end pleeeent Alter-
deen, New Albeny end Tupelo clear aud
’ Aiehe me—Selma, Montgomery. Opelika
end Mobile dear end hot. lluntirllle clear
and warm.
WEATHER IfTwHEAT BELT.
Extreme Xorthwext-Partly cloudy; 19 to
abore; general rein*.
Northweet—Cloudy; 54 to 91 abore; fen
g ’weetand Southweet-Partly cloudy; 99 to
nhore; go nr re I reins In IlllnoU; local In
o’hlo 1 Valley—Pertly cloudy; 71 to 79 abore;
local nine.
WEATHER FORECAST.
Thuredey, light to freeh rurlalilc wlnda.
Virginia, North Caroline. Mouth Carolina,
Eeeteru and Weetcrn FlorhU-Local ralne
Wcdneeday and TMireday; light to froeh
V, Alehem« r . lllll Mleetealpi&, I,ouleleh» and
cal reine Wc,lucedey_end. Thuredey.
Arknnee*—Hhowefe Wedncedey ana Thor,-
day. cooler Thutwdey.
Indiana—Show-era tonight or Ttanradey;
cooler In north portion.
^«*^Th.x* h iir«fr5Sudy;
’’iovre^Hhowete SfJStS^mt Thure-
sr showers: cooler In east portion.
Missouri—Showers tonight or Thursday;
Cn KMn, b »nS > Vaath Dnkot^Showenl end
A71ANTA.M
GIBERT & CLAY
STOCK*. BONOJ
ALABAMA BT.
?c?.r4 fisssffisr "w&afBgBWJiSj;.
;k CoBee iichaige|New Orleen. Hoard of lreSe.|iiel»eeton Lotton Exchang*
i\ and Lena DUUnea'Ta&hona*ten! ******%!. n. FAGAN, MantfitK
... Ii, 1910.,
Savannah 5a. 1909.... .
Macons 6s, 1910
Atlanta, 6s. I91L.
Bid, Asked.
Aunnini Mi t-Iff. • »m. .
Atlanta, 4?4i. 1921 19P 1 ??«H
Atlanta 4e.lM4.. .. .... 1«
Atlanta and Weat Point. . . .!«
Atlanta and Weat Point Deh(a..I97
Central Itallway of Ueorgla lat
Income ffH
do, 5d Income *L,
do. Id Income .. .. y. t;7H
Auguatn' and' gara'nnah'. ! . . . .115 117
fflSc ii.v.v:: 1JJ
C.| C, and A. lata 113
COTTON REGION BULLETIN.
For the 24 honra ending at I a. m„ 71th
meridian lime. Auguat 22, 1909.
STATIONS OF
ATLANTA
DISTRICT.
-Allante. clear. . .
•Chattanooga, clear,
t'olumhua, clear. . .
tjalneirltlc, clear. .
tlreenvlllo, dear. .
tlrlftln, clear. . . .
MontlceIlo.*clcar.'
Netrnan, clear. . .
Rome, clear. . . .
Spartanburg, clear. .
Tallapooea. clear. .
Toccoo. clear. . . .
Weet Point, clear.
' -Minimum temperaturea are for. the 12-
hour period endltuf at 5 a. m. thla date.
IlEAVT RAINFALLS.
Macon. Oa.. •
Ulackvlllo, H. C .
B
M I tu
.g a
Nsw York, Aug. 21-
Itoaas will ai woSncfudegosslp' ’conrrriilng
the ore deal and report* that Union Pa-
rifle holdings of Investment securities may
pass Into the bauds of a syndicate on val
uation* exceeding 1100.000,0m. The question
of gold Imports becomes Important in view
of the narrow margin of surplus respective
ly held by ths banks, and the kind of re
lief to be effective should assume very
Important proportions. Meantime, the only
S ide you have to these developments la
e action of tho market, which may have
to endure a fnrther selling movement this
morning before the right kind of
would logically appear. We expect.
the metals aud steel stocks supported; also
the coalers.”
Daniel Odell ft Co.: "Market may dis
play fnrther weakness today, but think
good stock* like AtebJwn, Southern Pacific,
nt. I'aul and Norfolk, will then he good
K rckaaes. There was good buying In thi
uea yesterday.”
Think lVnnsylraala and Union Pacific
The New York Financial Bureau aaya:
"Discriminating purchases, especially on
wenkness t«xlay, will, we tovc reason* for
•nrate with the advance and will
re-extension of shortage and strengtbenlni
of technique much to he desired, now tbn
the public has taken a good weight 01
stocks. That there has lieeii distribution oi
.stock* Is plain to un, but that the bulk ye.
remains In Inside hand* la nlso manifest,
l the market Interest* shall have anc-
ed In disposing of their holdings the
trend will continue upward under existing
conditions, as we calculate them. We un
derstand developments ara pending, to he
announced from time to time, that will
furnish plenty of bullish enthuslashi. W*
expect to see banking support against too
aggressive raldigg today, and If good stocks
have already been bought on the recession
we Mleve they should be averaged confi
dently on further declines, which are likely
to he but temporary. It will protmhty be
found that a Recovery will be led by ape-
Americus, Ga..
Milieu, Ga..
oultman. Ga,
..1.94
..1.24
..2.28
WARE ft LELAND'9
DAILY COTTON LETTER
actor of the coti
NOTES ON GRAIN
Pointers on Provisions.
sell
Private Wire to Wa
Chicago, Aug. 22.—
the advance In the Northwest, which, some
think, was due to u little run on the part
of short* in September up there. Armour
sold December here.
The tone of the wheat market I* distinctly
ehanged from tho past two days. Hales
only be made nt concession*.
Tne undertone of wheat ha* gradually
gained strength the past few days, uud ns
prices hold steady With no selling pressure
on the market, some further rally seems In
order.
Tha pit crowd who on Mondnxwere sell
ing H*bteml>er wheat short nt 70c are nmv
going Jong of Dm— * ”—**
see tbs logic of It.
Oats opened shade higher on buying by
tho pit crowd. Bartlett, Frasier ft Co. are
now fair seller* of May. Updike
lug May.
inter-ucean>» Vaudusen-IIarrlngton,
Miuueapolla, snya: "It Is too early to esti
mate tiie shrinkage of Jute crop lu the
Northwest, caused hy heat. Reporta Mon
day of damage of 10.000.000 bushel* on uc
count of hot weather seem to i»e very ex
frame from later reports. There was un
doubtedly some shrinkage. Weather uortb
is good.’’
to Nebraska corn, Fremont wires:
pies of growing corn coming to the of-
esterday and today show they are best
tvor hud at this time. Kernels are
between milk nud dough, ears are filled to
tip Mild very heavy. With continuation of
warm weather and uo frost or rain for two
weeks the hulk of our corq'crop la made."
Southwest. The Minneapolis market waa
the stronger yesterday, reflecting deteriora
tion of the crop outlook. We still believe
this factor will have a potent argument for
000 hushela Kcpt-unher wheat ... .....
elevator concerns, which gave the Deeembr
lu return at a premium of He per bushel for
the latter. Small holdings of September
have been pretty well liquidated during the
continual -decline of J5c per bushel. The ae-
tunl grain Is now In atroni
of cash grain In rhlcago 46,0
^ti and 170,000 oats.
‘Seatainrej sales 104,000 wheat, 26,000 corn
and 75.000 oats. One firm yesterday bought
40.000 bushels coru, the largest purchase lu
thirty days."
COTTON HIGHER
ON PROFIT TAKING
New York, Atig. 22.—The Sun says: "The
tendency to rally waa ntlll noticeable nml
at tho close prices were slightly higher for
Incut luterests. Is still bearish, hut
the time being, at any rate, there
more disposition to secure profits than
there was to engage extensively lu
ventures on the'abort side. Yet nt
i prices were lower, owing to heavy
ng for Southern account through va
rious wire houses and commission houses.
Then, too, the receipts of new cotton were
heavy, IloUston getting 8.989 now bales,
Galveston 6,702 and New Orleans 93. The
weather at the South was. In the main,
favorable, though showers were reported nt
many points in Texas and ft further precipi
tation occurred in North Carolina, when*
the government says heavy rains of late
have canoed considerable damage. Bnt, on
the whole, the crop reports continued to
indicate a Urge yield, and this accounts
for the bearish sentlnieut prevalent al
most everywhere. Yet the recent slurp de
cline Is believed by many to liavr dis
counted for the time, at least, the favor
able crop prospects, ami there was con
siderable baying for the -long- acewmt
‘ ’rdny by prominent commission
I KK’FfitaKjf-V promlnont
SSSr nulT”*'* WPre
rlaUlMj anil ttwa* one, li, (omul among
loir-prlral luuna which • - *
i take Irea mtfoejr to
Int.rcat heciuiac i
> greater Mfrtr.
atM laappreclabl* ralo/all.
REMARKS.
Her tcmiternturw were report-
... „ ... th. wcat.rn and •oathern dti-
trteta. Ralne orettrred In all nc»pt th. Mo
bil. dletrlct. Th. nmounta were h«ry nt
> n <> M nrla Vnpth nntI S/Mftft I'amllnt
THE 8UGAR MARKET.
Rr rnrat. IxHtanl Wire.
K.w York, Aug. 2L-Kugar, retlnnl nml
raw, unchanged. Ixtndon Iwot mnrk.t
atMdjr; Auguat 9a 29id; Hcpt.mb»r 9e 2d.
eoolrr tonight; Thnrmlar partlr clmtdr.
North Itnknta—Hhow.ni tonight; cooler In
Mat^and aontb portion; Thnrador fair and
^ sion to nn—Partlr rloinl, tonight; abowera
In mat portion; Ttraradaj fair and alight-
Ig wanner.
ahniild marS'llm. ami Co> irreniar letBpo
rnrll., during which period a abort Intcreat
will built op In anticipation of Imprtnre-
m-nt later on. A cunacrvotlr. bull i-oltlon
will. w. firmly b»ll-tf, glr. good reanltg.”
rrlvnte Wire to War. A Inland.
New York, Aug. 22.-London point
‘ with call money likely to atllt.n further,
• cactlona can h* look«l for, although th.
marint will bo extremely Irregular.
There la a renewal of talk i.tallng to
Vnlteil State# Hteel taking orer Fuel, lint
a peace and Ohio. Brie and the Jow-prleed
r *Taik la atlll hollleh on Harrlman raclfirt
and Hill laauea. j , .
It I* reported from good <i(uirter« that
Republic Steel la ready for n moreinent
npwanl of 10 point#. The (late# faction Is
unileretond to be handling the morament.
Tina come direct from tot Heud of thla
GIBERT & CLAV8 -
DAILY COTTON LETTER.
New OrleaDa. Aug. a.-F^rly 12r»fpf^l
cable# were illitlnrtTy l.nlllai on newi of
n In* favorable ebara«-ter concerning lb*
crop, which sentiment option# earlier fully
reflected, hat later lost when the large
short Interest bream© mart thoroughly 11*
, greater percentage
crop accounts at hand from tho Bout
ip are on a more restricted acal...
the uncertainty and the fsellng
market may l>« In for a reaction
_ _ points on nn oversold technical
condition. Beyond thla, there seems to bo
no radical rhangd In the position, and «en*
tlroeut continues bearish, ns a result of
ths progress of the cotton crop. It Is still
early- In the Besson, and as cotton has
not sold at 9c In tome time, nml the world’s
dry goods trade la In a profitable condition,
the buying by spinner* and tho trade gen
erally at present prices ts not surprising.
In fact, It Is the part of wtmlnm for
spinners needing n large quantity of rot-
ii>u the coming ssason to lay In n portion
of the stock at present prices. This sup-
and matt; ■■ I
to both ony and sell at the current
The market seems to be In a reactionary
tnoud, but on nny advance, the Mouth Is
_ny
likely to begin selling again, and, of course,
Inducements for the trade to buy how no-
tlcenble would be absent on n rise. It
looks as though wo would have a good
trading market for some time to come.
quldated, final prices being S points over
yesterday's close. Hpot sales amounted to
7,000 I hi les, with quotations 2 points high
er. lu the past few days, the market
has developed Into a comparatively narrow
affair, sorely In need or the broadening
Influence of a more general outside Inter
est. Under existing circumstances, the
more professional element* arir not in
clined to aid the market either one way
or the other, the txdlof prevailing that
a slurp advance, would not be In keeping
with the favornhleiics* of crop news,
while, on the other hand, the recent de
cline has been so thorough that consid
erable difficulty would, In all probability,
be experienced should an attempt lie made
to force values lower. Under the sur*
face, however, there Ilea Important fac
tors directly and Indirectly Itearlpg «|»on
the rot ton market, and which, at their
proper time', will undoubtedly exert thetr
proportion of Influence. First, the free
moveiucut of early cotton, which seems to
portend sufficient supplies and the early
—— — •--*—)* against spot commit-
the recent questionable
good buyer*. ”—01b«rt
New Orleans, Aug. 22.—The Timer-Dem
ocrat: "Yesterday’* cotton market was er
ratic because of the conflict of nrofea-
„„ new cotton
»nougb to Ihj counted among each
days Influences. Meanwhile, careful
students of the staple are unable to mold
a bearish argument out of the nhsenro
of concrete crop mention In the govern
ment's cotton region bulletin As a mat
ter of fact, there would now worn to be
same renson for Gie belief that tho
crop nnd flic tenor of the government a
weekly weather reports have lacked lise-
mony of detail, nnd that deterioration
lias been more pronounced In some sections
than generally suspected. However, pend
ing the growth of tbe new 'ntoremenf, n
steady If not a reactionary market Is quite
logical. logically, the spot market bi\s not
yet gone on the basis of new crop values
because new crop cotton has not begun
to move In the New Orleans territory.
This, of course, accounts for some of the
discrepancy In spot nnd option value*. —
Ware ft Leland.
S EXCESSIVE
IN THE NORTHWEST
Influence for a Firmer Open
ing in the Wheat
Market.
CABLES WERE HIGHER
The Canadian Crop Report
ed Damaged Was Also a
Bullish Help.
r Private Leased Wire.
Cblago, Aug. 22.—There was a firm#*
opening In wheat today Influence*
chP-jiy by reports of excessive rains
in the northwest and a forecast for
more today. Cables were 3-8d higher
on reported damage to the Canadian
crop and a firm Winnipeg market
CHICAGO GRAIN MARKET.
-Jlrtigo grain si
for today follow:
Open. High-
9*
79
Sept 4*10- 80
Dec 31ft 81ft
May 55ft Mft
PORK-
Kept
Jnn.... 13.60 13.60
LARD—
Kept... 8.66
St
- 8.66
in.... 7.82ft
HIDES—
m
7.86
8.60
8.16
7.82ft
8.67ft 8.67ft
7.82ft 7.37ft
If if
8.96
ll
9.00
m
Sept.. 8.97ft
Oct... 8.70
J ‘cAHIl 7 \vft>!AT-
No. 2 reil ?9<4«73«v Nn. 3 rnl 7J'4fi7:'.;
_fo. 2 hard winter 7Ifttf72; No. 3 do i0ft
4#70ft. .
PRIMARY MOVEMENT.
Ml. ■ mtf —.— .
against 821.000 bushels last year; shlnineril*
. . — — . -gainst 316,00o busli-
tndny 632,000 lmehel*.
last year; sblnmenta
tmlay 400,000 bushels, against 460,000 bushels
LIVERPOOL GRAIN MARKET.
Mied higher: at 1:80
r; closed at ftoftc higher.
N* unchanged; at 1:20 p.
Wheat—Opened
m , %c higher: c'~
CsnMHWIw r _ ,
ftc higher, nnd closml ft^f^c higher.
NORTHWEST CARS*
Minneapolis,
ftolufb.' . . ,
CHICAGO CAR LOTS.
Wheat..
Porn.. ..
oats. .,
Hogs.. ..
Today. Tomorrow.
COTTON SEED OIL MARKET.
New York. Aug. 22.—The market for cot
ton seed oil wna moderately active and
steadier. There waa some little commis
sion house buying, and the pressure in
Hcptemlter ws* much less active. There Is
a general feeling that the ucnrhy positions
have I teen pretty well t-vened up, although
some Interests are claiming that there is
still quite a liberal open account lu Hcp-
tetnber. The recent weakness In future*
has unsettled the market for crude. Re
crop continue
era I estimate* of (he cotton
to 1*» the principal Influence
l>earlsh sentiment, and In opposition the
fear that an over-burdensome short tn-i
Iterest may result In causing a further re-
Itctldii fn»m low IcvcfH rccfiidy nt»>..rvc.t.
SOUTHERN EXCHANGE
Oldest E,tabll«hcd Ortlca Soutti.
COnON STOWS BONDS—DRAIN
Ground Floor Goutd Building. Dally
market letter rutd m»rket inanunt
matted on .ppttf»tton.
L. J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, GRAIN
Correspondent's Capital $250,000
aereatNce. the neal bank
PHONE I4t7. PRUDENTIAL BLOG
WAR
COTTON, GRAIN,
Hew Orlesnt.
E A LELAND
PROVISl&NS, STOCKS, BONDS,
Ms. 2 Will SI., friers Bsltdlsg, Atlssts, 0«.
HlMBiKS:
Cblago Bard of Trsds.
Cb/aao Stock ttcksngf.
r York C “ *
Ujtr ^Wn,\rSST.rb. Mew Orlnss. Cbicsgs. T l/eW ^
Bell Pbose 1H2. SUsdsrd Hose 22L
opening.—War#
August
September. . • .
Octolaer
November. . . ,
December. , *, ,
January. . . .
Closed steady.
■■ THE COFFEE MARKET,
New York. Aug. 22.—The opening of th*
coff9»e market made rather a boor showing,
considering the farornble rah lee. whb-li dM
not fully resitond to the New York de
cline of yesterday. Thta atnlilllty «»f the
Hu repeat ii market appear* Rlugular. inas
much ns a Isrgc share <»r the recent sell
ing here I* Ntipposcd to have been for
Kurnpenii account, and a* the local mar
ket la not aimer a parity the reveran
faring the cn*e.—Gltacrt ft t’iny.
Ojtenlng range and close of the New York
coffee market for to«lny wn* a* follows:
Opening
March.. .. .
Aiarll #.
Maty
June.../
July....i.. ....
Augunt
Heptcniber.. ., „
October
Novemliar.. .. ,
December
i'looeil steady.
Ibiii_ .
..7.06-7.10
. .;7.r*-7.35
,.7.n
...7.16-7.45
....7.467.50
..8.79-8.90
..6.PM.96
.. .7.03,7.06
t’lnee.
7.36-7.40
7.40-7.46
8.704.78
6.704.76
6.80-6. M
6.96-1M
Home demand for Canadian I'acltlr In th*
loan crowd, but other rtockt plentiful.
Gerntany placing order* for Smelting Iron
York to engage gold
J6JD0.O0 bar gold will
lae nffer»il In the open market,
State hank Increase* its capital from flrt),-
000 to fl.006.000.
faike competition causca Tednctlon In ex
port grain rate*.
Twelve Industrial^ daereased .30 per cent
Twenty active railroads declined 1.33 per
cent.
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. L. PlfL President.
Til08. J. PEKFLE8. Cashier,
BOBT. F. MADDOX. Tki PWE
JAS. G. LESTER. Aw't Cashier.
MADD0X-RUCKER BANKING CO.
CAPITAL
SURPLUS AND PROFITS
ACCOUNT* INVITED
$200,000.00
$500,000.00
We invite accounts of individuals, corporations, banks
nnd bankcre and offer tlic best terms consistent with
conservative banking.