The Atlanta Georgian. (Atlanta, GA.) 1906-1907, October 03, 1906, Image 11

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THE ATLANTA GEORGIAN. WEPNEKDAV, OCTOBEn *, HOC. 11 MS11 COTTON They Succeeded in Forcing Prices to Decidedly Lower Level. SOUTH WAS SELL'ER Kecent Buyers Aided Bears by Selling to Realize Good Profits. York, Oct. 5.—The undertone of the „V#,» n market nt tf!fe outset was unsettled ^/ Srit prices were 15©18 points lower, following ft sharp decline In the market nt I rinmffi Ux-nllr *01116 of the l*»dla* were »ethre ,eller« and there «•»» » •» 0 Il.le nrewiire. In reipon*e to the ad- - ™ roraroteslon home* lo*t night to i The ndrnnee wn, too rapid. The h«nd«ome nroflt* In favor of the friend* of cotton flrrived too tempting and they roalUed on 1 * - _ t.ul n l,i nil tlio a ,i..nil 111 Vd I lveri*ooi *»» »»uc i» < ”nit- **» i” — niher In re»pon*e to the rnnawny Anierletin market, ye*terdny. In*tend of the advance Sue flrnt price* were unehnnged toJ points hrlier This wn* very (ll*cmrnglng. nncl ..ii tho poor (howlng New York wn* due to ..eel) 28 point* down. Following I* the r*nge In the cotton mar ket In Liverpool today. Open. High. Ix>w. OrtSor 6.67 £*7 5.53 t n n -Fob * . 8.60 5.67 5.53 M.h-Aprlt 6.60 6.71 6.67 MsvJune &.6G 5.»t> •‘•O* * tW spot market was firm, however, the r.rlcf* for middling being marked up 15 imlnts to 6.0Sd. Spinners Increased their inking*. sale* amounting to 12,600 baler. There wss less excitement around the nooning this morning, apparently the reault or tlio Shifting and the covering process from the boar to the bull side of the ac count The boars have I*een nervous, and the bulls ate confident that this element la not entirely “out of the woods” yet. Initial priors wore 15 to 18 points lower on tho ctlre months, practically the high points. Pecemticr 40. January 88, and March 37, an compared with tho high polut of yes- * Tho N>w York Commercial, In Its review of tho market laat Monday, says: "Tho market saw the most sensational ad- Tnn<o of the season. It was an advance following nn advance, which made It the more sensational. Liverpool had not had Its rhnnee to run until Monday—and It ran thnt Is. the shorts did. There was no un dignified retreat on the other side, how ever. n»d Liverpool, while it showed a good ml van co, was not sensational, considering the tone of the local market, mid the wild .•allies that had lien sent abroad. The New York bulls were out fop blood, however. There was no thought of the morrow, tentlon was pnbl to lienrs* reports I_ two women statisticians, no attention r id to anything except the prop was nn easy game to seud prf<r South sold on the advance, hut i wn* paid to that. The nubile dl In to buy, but the bull* did n thnt. It was an easy game, and the thing seemed to be to push It even ns the driver of a racing automobile drives his msehlne. brenk 1 that cr mentioned thnt days have hail no chance to take down profits, but that does not seem to worry any of the crowd; they seem to be looking ' still greater profits.” NEWS AND GOSSIP Of the Fleecy Staple. Private Wire to Glbert & Clay. New York, Oct. 3.—Liverpool at 12:30 p. m. was unchanged to 1 point up. Was due 14 uml 15 points up. On this basis New id o ■ “ ¥o«* should open about 2S points lower. The New \ork Commercial says: ’There was never before a case In the history of the cotton trade where a crop lost 3,000,000 bales in a week.” Showers over east gulf nnd south At lantlc states tonight and tomorrow, fnl over western belt. Weather bureau report of late lust ee— - • -■ gulf dls^urbain Itoom traders hammering the market, with the Mouth a heavy seller. The Journal of Commerce savs: “The dry goods market wits very strong for the dny more especially In the cotton goods section It was the currently expressed opinion thut all merchandise was iftovlng toward a higher level under the impetus of a short supply and a demand In excess of the nor mal nt this time of the year. Undoubtedly Edited by Joseph B. Lively MARKETS Mr. Lively's twenty-lire years' experience of ed iting markets In Atlanta nnd the South has mado hits a recognised au thority In bis specialty. TIPS FLASHED From Wall Street RANGE OF NEW YORK STOCKS AND COTTON MARKETS the higher prlc ie ye reached in the raw mate stiffening effect, but ild take plat flurry In si>eeulutlve rial market had ninny lines udvun there had been i channels." Liverpool cables: "At the opening mnrket was full of sellers against actual cotton, and to take atlvnntnge of expected strong market afterward on steadv Ki pean buying. Think English shorts eovei but continent still some short." New Orleans, Oet. 3.—Liverpool cables: Market depressed on nccouut of hedging ed weak nnd Irregular; unehnnged nnd 3 up on late. At 12:15 p. m„ 24 to 3 up and very steady. Males 8.6.T). Spots 15 up at fl.08d. Futures were due to come 13 to 15 up. Carpenter, Rnggott Sc Co. say: “An In telllgcnt forecast Is hardly possible nt this time, os the trade seems to have lost Its head, nnd no wilder market was ever seen on ordinary reports. Eleven cents is freely predicted for cotton now before Snturduy CONDITION 71.2; GINNED 2,044,426 niC following tables. Issued yesterday by the crop reporting hoard of the bureau of statistics or the department of agriculture, nt Washington, shows the condition nnu quantity of cotton ginned up to Mepteml>er 25 by states, compared with last year, and tho 10-yenr average as to condition. The weather Is still unsettled In the enst- rn rot ton belt, heavy rains being reported i *evern! sections, though in Texas favora- illtlon* prevail, ns showu by the fol- 1/ ci'Mitijr mill Temple, clear nnd ami cool; Colorado nnd Abilene, clear and fine; IIIco and Dub lin, clenr nnd cool. Estimated Receipts For Tomorrow. ' ™ f 1906. 1906. ?Guv Orleans*.. I 6,000 to 6,00ft 1 16,626 i rumored late In the afternoon set- thnt Price was wiring confidentially int thr * .* « "tld go lower. At the close. Liverpool was lUtf?2H points Imver. Now York 214149 points and Now Orleans 3T.ff40 points down. Liverpool Is due to come nbout 7012 points noun tomorrow morning. , SPOT COTTON MARKET. Liverpool, spot cotton fair nnd Arm: mid dling uplands 6.08d; sales 12,000; American t.Vni; speculation and export 1,<W0; receipts t/M; American 1,600. Atlanta, steady at I0*4c. New York, quiet nt 10.55c. New Orleans, steady nt 104c. Augusta, quiet nt luS-lflc. Hnvnnnnh, Ann at 10 3-16c. St. Louis, quiet at 1014c. Wilmington, firm nt 9f*c. Memphis, Arm nt 10%c. Galveston, firm nt lOUc. Baltimore, nominal nt lOVfcc. Norfolk, steady at 10 7-16c. Charleston, firm nt 10c. Mobile, steady nt 10c. „ TODAY’S PORT RECEIPTS. ib" following tnlne shows receipts st the gj* today, compared with the same day 7061 16561 1226 7836 836 4493 1905 3340 25797 1634 14554 1611 4266 10037 58 3799 INTERIOR MOVEMENT. i f " ! '' m, ag tnlne shows receipts at the inn. f ’".was today, compared with the States. Virginia. . . . . N. Carolina. . . . S. Chfollnn. . . . Georgia Florida Alnbnmn Mississippi. . . . Louisiana Texas Arkansas Tennessee Missouri Oklahoma. . . . Indian Territory. United- States... 71.6 1 Sept. 25,1 Sept. 25, , 10-Year Average. 74 ' ‘ by the recent caused since September storm on the gulf const. The ginning report by states for the pres ent year shows the number of active glnner les ns follows: Alnbnmn 2.167, Arkansas 1,- 346, Florida 194, Georgia 3.552. Indlnu Terri tory 342, Kentucky 1. Louisiana 1.551, Missis- slppl 2;657. Missouri 30. North Uarollnn 1.567, Oklahoma 189, South Carolina 2,332, Tennes see 266, Texas 3,871. According to a bulletin Issued yesterday by the census bureau, there had been 2,044,- 426 bales of cotton ginned of the present crop up to September 25 last, counting round bales ns half bales. For the same pe- rouud ns half hales, follow’s by states: Alabama. Arkansas Florida Oeorgln Indian Territory. Kentucky 227,542 hales 36.613 bales 10.539 bales 218.566 1 tales 9,696 bales r 30 bales Louisiana 130,780 bales Mississippi 148,534 bales Missouri 1,042 bales North Carotins 41.890 bales Oklahoma 8,965 bales Mouth Carolina 130,231 bales Tennessee 7.330 bales Texas 1,009,147 bales Virginia 408 bales There are Included In the statistics 66.221 round bales for 1906 nnd 14.816 for 1906; sea Island 2.702 bales for 1906 and 11,936 for 1906. The distribution of the sea island cotton for 1906 Is ns follows: Florida 1.295 bales Georgia 1,361 bales Mouth Carolina. 46 hales WARE 4. LF.LAND’S DAILY COTTON LETTER. New Orleans, Oct. 3.—Cotton was com paratively quiet today after the heavy trad ing of yesterday. In the enrly session, prices had a declining tendency on the dis position of longs to take profits, nnd also on some heavy fresh short selling, which dbl a great deal to keep alive the belief thnt large shorts had refused to run to cover, and that the market still held a good- sized net short Interest. Liverpool re fused to make a full response to the net advance on this side yesterday, and this caused a lower opening, hut later In the day unfavorable weather reports caused a renewal of buying, which sent December up to 10.40, which was not so far from the level of yesterday’s close. Private cabl egrams from Liverpool said that the market had been kept from ndvnndng by heavy hedge sales against actual cotton. The weather was bad, considerable rain was re ported over the cotton belt, with tho ex ception of Texas, nnd prlvnte telegrams from Mississippi said that creeks In some localities were over their hanks nnd flood ing the lowlands. Press reports said that floods were prevailing in tleorgla, Alabama and Tennessee. The forecast promised fa vorable weather, but until more . news Is nvnllable concerning the real extent of the damage to the crop by the recent spell of bad weather, we advise conservatism In placing sales. Any bullish developments nil! cause quirk advances, for the belief Is becoming general thnt the trade has greatly overestimated tills crop. Just as vear It underestimated It. The spot inond was good nt full quotations. NAME OF STOCK. Amalgamated Copper.. Atlantic Coast Line. .. Americau Sugar Kef. .. Anaconda American Locomotive.. do, preferred. . . . Anier. Smelting Uef. . uu, preierreu. . . • American Cotton Oil. . Arner. Car Foundry. .. Baltimore ft Ohio. . .. Brooklyn Rapid Tran.. Canadian Pacific. . . . Chic. ft Northwestern.. Chesapeake & Ohio. . . Colorado Fuel Sc Iron.. Central Leather do, preferred. . . . CJIc. A Great West'n. Ch c., Mil. ft St. 1». . . Dela ware St Hudson. .. Distiller s Securities. .. Erie do, preferred. . . . ! 1J?S tjfnwal Electric, Illlnol* Central Atncr. Tee Hecurttle*. .. Louisville & NuabvUle,. Mexican Central MI,*onrt Pnclflc Quotation* tiro »« po*ted on Iw*rd of local exch»n<.. Total »toclt ante, today 1 NEW YORK. NAMB OF STOCK. hi. V.. Out. Sc Western National Lead Northern Pacific New York Central. .... Norfolk & Western Pennsylvania People's Gas Pressed Steel Car do. preferred Pncllle Mall Heading Republic Steel Rock Islsud - _ do. preferred United States Rubber* * * do. preferred. ...... Southern Pacific Southern Railway do. preferred Sloes-Sheffield Tenn. Coal & Iron. Texas ft Pacific Western Union. Wabash do. preferred. twres In New York today: Oct. . . Nov. . . Dee. . . Jan. . . Feb. . . March. May.* * Closed steady. nil 10. id 10.06-10 10.0610.06-06 lit. oy! 10.0809 10.14110.12-1! 10.21-21 10.27 10.26-77 10.34 10.35-36 10.64 10.38-40 10.88110.43-45 I? 1530-42 10.50-62 10.5466 10.67- 68 10.67- 60 10.73-73 10.82-83 10.88-85 10.88 90 LIVERPOOL. The following figures give the opening range and dose, compared with yesterdays dose. Futures opened barely steady. Opemr- Kam October . Oet.-Nov. Nor.-Dec. Dee.-Jan. Jan.-Feb. Feb.-Mob. Msy-Juue . . • June-July . . . Closed steady. ange. Previous Close. Close. . .6.61 -5.63 *« HA . .6.57 -6.58 . .5.56 -5.56 .'ig tt* . .5.61 -5.60 . .6.60 -5.63 . .5.60 -5.61 . .5.66 -5.664 . .6.64 *.*6% NEW ORLEANS. ^ T OTES ON GRAIN Pointers on Prorlilont. Private Wire to Ware ft Lelnnd. Chicago, Oct. 3.—Ilnve rallied wheat on rumor of exports made yesterday. Pit traders doing the buying as far ns can « at the moment. Chicago Inter Oeenn: Cash business In wheat yesterday was 25,000 bushels; sales of corn were 100,000 nnd oats 90,000 bushels. At the seaboard, exports of wheat 140,000, corn 40,000 nnd onts 200,000. *J* n £ c . rnt0 " n ’* r « reported He higher, lHc being paid for lOO.Ouo corn to Buffalo. Deliveries on Octolter trades yesterday were 16,000 bushels corn and 600 tierces of lord. Acceptances of wheat at Nebraska yester- dny were the largest for some time, one bouse buying 25,000 bushels, and others also made good pnrehase*. Elevators nt Portal. Maakatchawan, North- extern •Territory, are full of wheat nnd farmers are obliged to dump their grain on the ground. Threshing from shock Is nbout over, and It Is claimed that tho Can adian Pacific Is making no effort to fur nish ears to move the grain. Cash premiums on wheat were considera bly lower iu tho northwest nt Minneapolis. Millers were holding off, nnd No. 1 north- was offered freely nt l\c over De »er or lHc lower than Monday. Du was off 1H<*. No. 1 northeru In that market being offered 184c over December. Southwestern markets were off at nbout He, Kansas City No. 2 red selling at 73c, — ~ ~ T rd at 70Hfl73e. At St. Louis, i 77c, and No. 2 hard 78tf76e. Prlrnte Wire to Glbert ft Cloy. Chicago, Oct. 3.—Would much rather buy wheat on tho recession than on bulges. Think corn should prove a purchase nos- ml espeelr" — ~ - * Believe oi soft spots. THE COFFEE MARKET. Following Is the opening range and close Opening Range. . ..6.65-6.70 .. . .6.70-6.80 .. ..6.80 .. . .6.85-6.90 .. .6.95 . . .6.96-7.05 ....7.00 7.06 .. .7.05-7.10 . ..7.10-7.15 .. ..4.4A4.W .. . .6.50-6.65 6.85-6.4fl 6.40-6.4: 6.50-6.55 GIBERT & CLAY '* C. ALABAMA AT. COT I un, b correc, provisions IEMDCRSi ATLANTA. OA. . Trade. Association Exchange* Private Wires to all Exchanges, kecal end Long Distance Telephone 5298. w. n. FAGAN, Mansner. ALONZO RICHARDSON & CO., PUBLIC ACCOUNTANTS AND AUDITORS Empire Building. Bell Phone, Main 858. ATLANTA. GEORGIA- CROP REPORTS BAD; LIVERPOOL HIGHER New York, Oct. 3.—The Run says: "Un favorable crop reports from the eastern gulf nnd central section of the cotton l>e!t. together with a higher Liverpool market, a bullish weekly government report, heavy buying for New Orleans, nnd other Mouth- ern shorts, nnd a number of other bullish factors, nil contributed to make up nn ac tive speculation at rapidly rising figures. The spot business at Liverpool was larger, •pot markets In this country were higher under the stimulus of damage news, nnd a good demand, the South was offering the actual staple less freely, shorts wt*re every where stampeded, and there wna not a lit tle general buying lor a rise. On the other hand, the threatened new storm from the direction of Yucatan seems to he a small affair, not seriously threatening the gulf states and the monthly government report on condition was considered bearish, rather than otherwise. But the advance of |5 a bale within less than a week wn« natural ly considered very tempting to bulls, nnd n good many of them took profits, others who believed thnt the flurry has been based on very flimsy foundations, resumed opehn tlons on the short side, and what, with long liquidation nnd bear pressure, prices nt one time gnve way very noticeably. They rallied again later on, however, on renewed buying, due to persistent reports of d * * —**— * u ‘ belt. ..... Moreov .... and Galveston estimates for today nrrr small, not because of bad weather In Texas, for that state has escaped the Moitthern hurricane, but evidently because of the unfavorable news from the other side of the Mississippi, nnd the rapid rise of futures encouraging farmers to hold for higher prices. Foreign house* and spot In terests were large buyers here, and hnglisb nnd continental spinners bought heavily In Liverpool.”—Glbert ft Ulny. New Orleans. Oct. 3.-The Tlmes-Demo- ernf soys: “Monday's cotton market de veloped the fact that *he speculative short Interest was larger, nnd because of the ab sence of a large speculative long Interest In a more precarious position than the tab DEMAND LIGHT FOR CASH WHEAT Wheat Deal Pressing for Sale Responsible for Low er Opening. Chicago, Ot*t. 3—The market In wheat was tight ss a drum. The talent was un- happy as an onlooker, with here nnd there a trade. It Is know*n that Wall street holds 12.000,000 bushels of long wheat here. In which there were losse. It was sug- f ested that the recent Idg purchase was or Wall street account. The export trade was enormous—200,000 bushels corn at 2c to Buffalo, 75,000 bush els of onts were taken here. Primary wheat receipts 1,157.000 bushels, nnd 1,683,000 bushels of corn, compared with 1,457,000 nnd 559,000 bushels, respectively, • year ngo. Clearances for the day were 263,000 bush els of wheat, 209,000 bushels of corn* No oats. Closed steady, I § s J oct iSsff 10.30 0.06 Dec ■Tnn Feb March. . . . M*r June. . . . July.’. . . . io.40 10.48 10.40 10.48 10.08 10.17 7069 10.77 law 10.77 1034 10.67 10.78 10.73 1073 10.06-06 10.09*11 10.11-12 10.20-21 10.2638 10.3S-39 10.48-49 10.53-66 10.58-60 ;|0.40-41 10.47-49 10.60-51 10.58 59 10.65-671 10.78-79 10.88-90 10.93-96 10.98-11 THE WEATHER. LOCAL FORECA8T. WEATHER FORECA8T. CHICAGO GRAIN MARKET. for today follow: Open. High. WHEAT— Dec 7514 May 79$ i'ORN— GATS- Dee J May i Jan.... 13.35 LARD— Oct.... 8.87* ^ SS S5 43 42* 43 42* 43* 43* 43* 43* 9» ss 33* 34*4 35* 33* 13.42*4 13.32*4 13.4214 13.35 Nov.. 8.56 Jsn.... 7.874 SIDES— Oet.... 8.27 1 Jan.... ASH WII 8.874 8.60 7.85 1.924 8.874 1.874 8.624 Ht ?:i?S HEAT— sGeorgla—Showers and thunder storms Wednesday and probably Thursday; fresh southeast to east winds. Virginia—Partly cloudy Wednesday with occasional show’era; Thursday fnlf fifj.l wanner; light to fresh northeast winds. Louisiana—Fair Wednesday, warmer In northwest portion; Thursday fair, light Thursday, diminishing north winds. Arkansas and Western Texas—Fair Wed nesday and Thursday. North Carolina—Mhowers Wednesday nnd probably Thursday; light to fresh north east winds. Mouth Carolina nnd Eastern Florida— Mhowers aud thunderstorms Wednesday and probably Thursday, fresh southeast to east winds. Western Florida—Fnlr Wednesday nnd Thursday. light to fresh northwest winds. dny nnd In east portion Thursday. West Virginia—Light winds Wednesday Thursday fair. WEATHER CONDITIONS. Private Wire to Glbert ft Clay. New York, Oet. 3.—Atchison declared dlv Idend of 24 per cent, pnynble setnl-nn uttaUy. Better prices nre probable today. Th« markets seems to be In good condition, and standard rails. In our opinion, nre a pur chase on weak spots. New York Financial Bureau: Bullish op erntlons are likely to he oentlnued In the stock market today. We look for specialty prominence. We also expect to see the low- priced shares receive more attention, nnd the reaction In the afternoon yesterday should have !*een embraced as an opportti nlty to buy. We believe all these recession!, will for a time be succeeded by recoveries. We very strongly advise the selling of stocks on bulges, ns ofteu stated. The gen eral situation seems to tie steadily Improv ing. as near ns we citn ascertain nt this time. The outlook to us seems very good with money easing ns It is, for money has been the cb*— ■- ard me, from the Wall street view during the next thirty days there seems to be but little to prevent a broad bull mnrket. provided the prospect Is not Injured by reckless action beforehand. We counsel conservatism there fore, but continue to be bullish, as hereto fore stnted. Dow-Jones’ summary: American stocks In I^mdon firm, with special strength In crease to a 5 per cent basis or better « sblered probable. Presldeut strongly opposed to annexation Idea and will give Cubit another chance to govern itself. Atchison surplus for common stock equal to 15.63 per cent. United States Steel earnings estimated nt $40,000,000 for third quarter. Steel earnings In October expected to brenk nil records. Light demand for stocks In loan crowd with Amalgamated Copper loaning nbove two mouth* 15.43 pec com Rankers expect gold Imports to continue so long ns money continues higher here than In London. Total gold engaged on present movement 839.952.000, of which I17.869.ft00 Is to arrive. Forty roads for the third week of Sep tember show nn average gross Increase of 13.04 per cent. Twelve Industrials declined .36 per cent. Twenty active railroads declined .29 per GIBERT A CLAY’S DAILY COTTON LETTER. New Orleans, Oct. 3.—Heavy selling of options In Liverpool ss hedges ngnlnst spot transactions forcibly withheld the foreign market from responding In full to the cis-Atlnntlc advance. Closing prices were 1 @2 points lower, while spot sales denoted great Improvement on tho demand for cot ton, 12,000 bales changing hands nt nn ad vance In quotations of 15 points. The weather continues to be the nit-nbaoridng factor In shaping public sentiment. The market consequently pursues a nervous nnd erratic course, with first one side covering nnd then the other. Today's map was very unfavorable, only Texas of all the states reporting clenr, dry weather, while the balance of the belt was exceedingly wet nnd cloudy. This section has already bad excessive moisture, nnd the fear of damage grows with each day of rain. Hellers, there fore, hove been extremely scarce, nnd ad vances have l*een easily consummated. Nevertheless, forecasts for tomorrow nre decidedly more favorable, nnd the failure of the second tropical storm to material ize has removed considerable anxiety from the trade, nnd It Is very nrolwble thnt some slight easiness will be observed shohld the weather admit of more favorable progress In the fields. At any rate, a far-reaching nd brooder Interest Is now discernible In .he mnrket nffnlrs. nnd the old-time stag nation seems over, for a wQllft. at least The weather continues cloudy and unset tied over the enstern half of the United States, but the storm that came In from the S ulf lias decreased In energy, causing nr a mage aside from general rains. The fnl lowing stations report heavy rains Iii the Inst 24 hours: Atlanta, 1.96; Thomnsvllle, cut k the This nd Tuesday's opening found •overeff fellows desperately anxious, newspaper’s report of the condition of rop, secured under great^ difficulties report , J under u.— —- . if the telegraph wire troubles, ond published yesterday morning, revealed se vere damage In a number of sections. The government condition figures of il.o nerore the storm were not very bearish on see. oiul thought. The glnners' bulletin showing quarter of u million bales less cotton ■irinned on Meptember 25 than at the same time Inst year, added fuel to the flames. Selling power was lacking until the monu mental advance attracted some fresh sli*»rt lilies nnd profit-taking by scalpers on tne long side. The short's real troubles were the outgrowth not so much of a prorions unwarranted low price ievei. but of loci- cal Immediate conditions. Exporters who coil hi not get s|M*t cotton,, or who were THE PRIMARY MOVEMENT. The following figures give the primary movement of wheat nnd corn: Wheat—Receipts today 1.160.000 bushels, •gainst 1*467,000 bushels Inst year; ship ments todnv 618,000 bushels, against 098, 003 bushels last year. Torn-Receipts today 601,000 bushel*, against 558.000 bushels Inst year; shipments today 426.000 bushels, ngnlnst 648,000 bush els last year LIVERPOOL GRAIN MARKET. Wheat—Opened 4c lower; nt 1:30 p. ‘4c lower; closed Corn—Opened *i HflJ4e lower; closed „ .. lower. Corn—Opened HCDSiC lower; st 1:30 p. m., — losed 4®4c lower. NORTHWEST CARS. SOUTHERN EXCHANGE Oldest Established Office South. conos STOCKS BONDS GRIIN Ground Floor Gould Building. Dally market letter nnd market manual mailed on application. gy Is centered over Wyoming. This low Is followed by nn area of cloudiness nnd rain to the northwest of its center. The highest pressure Is over New England, while Iii the Mouth the pressure Is below normal at all stations. The temperature has risen nt most atn tlons, the exceptions being In Oregon und Washington and cm the coast of New Eng land. The outlook favors partly cloudy weather nnd probably show*ers in this section to night and Thursday. COTTON REGION BULLETIN. STATIONS OF ^Atlanta, cloudy. . ‘t'hnttnnrtogn, rnln. Gainesville, elotnl Greenville, rnln. . . Griffin, cloudy. . . •Macon, p. cloudy. . Mmiflcellp, cloudy. . Newnnn, clear. . . . Rome, cloudy. . . . Spartanburg, rain. . Tallapoosa, cloudy. Toe eon, cloudy. . . . West Point, cloudy. ■ Minimum temperatures art for the 12- it I i ! 67 1.82 hour period endlug nt I this date. HEAVY RAINFALLS. Fort Gaines, Gn Lake I’ity. Fla not ready fo work out their hedges, held ‘cally “ “ ‘ * rnetlci There „rmall the long contract wan no reason why these men should K°- and shorts In a frenzy pushed the market themselves. Europe bought cotton iv. amt ln.nl m.my cable requests for offers. Ihe in {prior and the room trader bought contracts rlienever possible. The rings were turb"- lout nnd uncertain. Ther analysis nnd less losses. With no , loser hoped for nothing letter than tiding of his w« ... .... time for the summing up of iiey in th. ervatlve traders not like the outlook. Au advance of i a bale within a few days Is Idg 4t» to everylssly. letuand nnd pause i It dls .-.,->ugh to glv , . . , „ , ootuit* giHHi trade demand and a not ojer- abundant supply. With 10c for middling “,tton obtainable la the Interior, the fanner can not now be expected to do much bold ing.”—Ware ft IedomL L. J. ANDERSON & CO Bankers and Brokers, COTTON, STOCKS, 6RAIN Correspondeit’s Capital $250,000 RCtKfiKNCE, THE NEAL 1C t4IT. PRUDENTIAL BLOC r.Sa? Max. Min. Charleston. . Mobile. . . . Montgomery. REMARK8. Somewhat lower temperatui most of the eastern districts . hours. Rains were general, with heavy falls In Georgia and Florida. Reports from the weatem half of the l*elt were uot c« cejved In time for publleatb CHICAGO CAR LOT8. STOCKS AT START E IRREGULAR Various Groups Being In fluenced By Large Specu lative Operations. DULL FIRST HOUR Fluctuations Generally Cov ered a Narrow Range. London IVas Buyer. New York. Oct. 3.—The announcement of ft 214 per cent semi-annual dividend flu Ateh* Ison common, placing the atoek on a 5 l»er cent baaia, was the Important news of the day. It has been known for come time thnt directors of the company were divided In opinion on the dividend ques tion, some fnvorlug nn Increase from 4^5 per cent, while others favored a larger In crease. The recent rise In the stock mar ket had evidently discounted something midway between these two views—that Is, between 107 and 109, the range lately pre vailing. The stock was too low for a 6 per cent Issue, nnd too high for a 5 per Ont. But a fair Judgment based on comparison of quotations with other stocks would be that the Atchison shares have been holding much closer to ft 5 er cent level than to the level they would arc been entitled to selL had the divi dend distribution been larger. Accordingly, the effect of the announcement on the mar ket today was not seriously depressing. Atchison promptly broke 3 points on tho ’* and other lending issues dropped a point or so. But heavy orders were Im mediately thrown Into the mnrket nnd the upward niovnient was resumed. New York. Get. 3.—The stock innrket opened at general gains, extending to In St. Paul nnd Northern Pacific, United Htstea Steel preferred Union Pacific. Hteel common. Uolorndo Fuel 4, Rending 4. Southern Pnclflc nnd Baltimore nnd Ohio 4. Atchison opened nt IftSVfflftS. th# ‘ >wer figure showing a net gain of 14. The stock mnrket Trading nnd price move ments during the first hour were Iwtb de cidedly Irregular, various groups of stocks being Influenced by large speculative opera- of others. Atchison fell don bought 20,000 shnres so far. Government lionds unchanged. Other bonds lower. THE LONDON 8TOCK MARKET. RTOCKS-- Anu condo Atchison Canadian Pacific.. Chic., Mil. nnd 8t. Erie.... Southern Pacific Uftloft Pacific... ». . United Mtatcs Steel, do. preferred,. .. LIVE 8T0CK MARKET. , Chicago, Oct. 5.—Hogs— Estimated re ceipts today 22,000. Mnrket slow nnd strong to a shade higher: quality fnlr: left over 4,183; hulk $6.3&fpi.70: estimated for tomorrow 25,090; light $6.30J?6.7?4; mixed $6.20fiC.f5: henry $6ij6.80; rough I8Q6.26; R nckers 16.70^6.76; good to choice heavy J.75ti0.88* Cattle—Estl ran tod receipts 21,000. Mnrket Steady to 10c higher; quality fnlr; beeves $427; cows $1,362*4.50; heifers $2.4065.25; calves $5.6008.60; good prime steers $507: poor to medium $405.40; Stockers ana feeders $2.5004.65. Hhecp— Estimated receipts 35.000. Market weak; quality fnlr; untlvos $3225.49; west ern $305.40; yearlings $5.3005.90; lambs $4.2507.50; western $Co5®7.40. THE METAL MARKET. New York, Oct. 8.—Tin was slightly flrih- er; spot nnd nearby deliveries Improved THE CUOAR MARKET. New York, Oct. 1—Local refined and raw sugar markets steady and unchanged. Lon don beet innrket steady; October 9s 44d; November 9s 3d. STOCKS REVIEWED BY NEW YORK SUN par __ —_ ___ — ment that entirely governed the mnrket on Monday made further progress, no thnt be fore mid-day recoveries of from 3 to 7 |»oInts In the prominent stocks from the low quota tions made In the latter part of last week were common. But again, ns has so often happened In the Inst thirty days, after a sharp movement In the market In one direc tion or another, a period of dullness set In. followed In a short time by n reversal or the trend previously followed. Superficial conditions seemed even more farornblo to an advance In vnlnes thnn they did Mon day. While the atoek market was advanc ing the Distlllera Securities and Ice Mecuri- ties stocks declined with some violence. These ure stocks In which n large advance In price has racently occurred, unaccompa nied. however, by any notable degree of port, and the decline In the shares did not check the upward course of the general market. The drop In Distil lers was due presumably to the announce ment of opimsltlon raised fcy a number of the stockholders of the cnuiiMny to the exe cution of plana that have been framed for the man- __ As much of a faetor as anything In the recession lu the market In the nfternoon seemed to be the selling of stock by holders who were disappointed regarding the conclusion of the ore dfal between the Great Northern Rail way and the United Btatea Steel Corpora- tlon*—Glbert ft Clay. WM. L. FEEL, President ROBERT F. MADDOX. Vice President THOMAS J. PEEPLES. Cashier. JAMES O. LESTER, Assistant Caahtee. JAM. P. WINDSOR, Assistant Cashier. MADDOX-RUCKER BANKING COMPANY. CAPITAL $200,000.00 SURPLUS AND PROFITS . . $500,000.00 Accounts, small as well as large, invited. 3 1-2 per cent interest paid and compounded semi annually in our Savings Department. Safe Deposit Boxes Prank Hawkins. President. , . . ., H. AUI«json,^F. P ; Tnoms^C. Erwin, Asst.^ Cashier. 1 Third Capital Surplus Tnomas C. Erwin, assc. lsi R. W. wyera, Aast. Cashier. National Bank . . . . $200,000.00. . . . . $300,000.00. directorsi Frank Hawkins. !!. M Atkinson. Joseph A. McCord. For rent in our vaults in lie lasement of the Empire {Building for only $5.00 each per annum. Absolute Security and all Modem Conveniences You should not be without one. We Invite you to call and Inspect them. Title Guarantee and Trust Co. 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.