Newspaper Page Text
10
Market Quotations For Week Ending April 14, 1914
Return of cold and rainy weather to the early cotton-producing sections.
as well as throvghout the cotton belt, was the most important development
in the cotton market this week, but greater prominence was given the ad
vices from abroad, to the effect that business was good. This, coupled with
unfavorable weather conditions, forced shorts to cover considerable lines be
fore the triple holiday. The demand from this coterie of operators, m.~
gether with general buying by leading spot interests who were short of May,
gave the general list a fillip, and each option established new high records
for the movement. On the bulge May touched 12.83, while July reached 12.52
and October 11.77. It was the bellef in conservative quarters that the spot
interests not only covered May, but that they went long of not only this op
tion, but of new crop optlons. .
Had it not been for the Raster holidays there is no telling where the list
would have found a resting spot, because news from Liverpool and the Con
tinent was uniformly bullish and mills are said to be doing a fair zmmunt' of
business and there is a feeling that with an improvement fn the political
situation better business would follow. In addition to this business in the
dry goods line continues on a fair scale, with indications pointing to further
improvement, despite the unfavorable weather conditions. This character
of news naturally gave shorts a nervous feeling and forced sellers of new
crop months to operate more cautiously, especially in view of the fact that
the old crop cotton is fast exhausting, with promises of a late
¢rop the present year. The estimated consumption this year |is
greater than the crop, which naturally wiil eat up what surplus was
left at the end of last season, leaving little or no carry-over August 31,
when the season of 1913-14 expires. This means that the world probably will
have to start out on little or no cotton September 1. However, by this
time the trade can get a fair line on what size the current crop will be. But
in the meanwhile the talent will certainly have to trade cautiously, because
no one can determine the ultimate yield of any crop. A hot July-August, or
an early killing frost can Kkill any crop—more so cotton.
However, it is natural that exaggerated views should gain currency re
garding the new crop because of the unfavorable developments, but it is not
logical, It is a fact that cotton will grow if planted, and grow abundantly
if planted heavily. Take, for instance, the severe drought last summer and
the premature freeze last fall, nelther could offset record acreage and liberal
use of fertilizer, which gave the South something like 15,000,000 bales. 'This
year farmers are in a better financial shape than they have ever been.
The Government has made it 8o that the farmer can secure loans with
out having to pay extreme interest, and having to pay it when so ordered by
bankers, which has caused many a poor farmer to lose heavily, simply be-.
cause he could not afford to stand pat and await his price. But this year it is
different. The acreage, it is said, will surpass that of 1911, the largest ever
cultivated in cotton. The sale of fectilizer is a record-breaker, and if the
weather man will only allow planters to work in their field at proper times
and furnish rains when needed, the crop of 1814-1815 will be a ‘bumper.”
And better prices will be pald on account of the New York Cotton EX
change adopting the nine different Government standard grades. This will
keep good white cotton up around extreme prices and keep untenderable cot
ton in its proper place.
According to advices from well posted traveling reporters, the west and
east planters intend to put full acreage into the staple, with chances of an
increase in acreage over last year. The farmers have just received the high
est average price for their cotton, and have every inducement to plant
heavily.
It has been said time after time that the larger a crop is the less money
it is worth. This has been the rule for year after year, but now the tide
seems to be turning. Several years ago ail the world could do was to ab
sorb about 12,000,000 bales, and this was no easy matter. But the consump
tion of American cotton continues to grow, and to-day the world can use
more than 15,009,000 bales, and then drain every cotton port in the world,
leaving each new season with hardly any carry-over., This year 15,006,000
bales was raised, or almost that amount, and the world has taken almost
every bale of it and has paid an average price of 13¢ for each pound. In
plain English, the consumption of cotton increases just as fast and faster
than (he production.
A large planter in the northwestern district of Alabama reports that he
has a perfect stand of cotten on one of his plantations and is completing
planting on five or six other large farms. 'This is very early for that re
glon, but every cone reports that the land ‘is in perfect condition.
With the exception of Arkansas and parts of Texas, precipitation over
the belt during March was below normal. The departure from normal rain
fall as reported by the Weather Bureau was as follows during that month:
Below normal, Nortfolk, .51; Charlotte, Al, Raleigh, .77; Wilmerding, .70;: Co
lumbla, 8. C., 1.62; Charleston, 1.38; Augusta. 2.96; Savannah, 1.87; Atlanta,
<.61; Macon, 2.61; Thomasville, 3.87; Pensacola, 1.72; Mobile, 5.17; Montgomery,
3.63; Anniston, 1.55; Birmingham, .47; Meridian, %.23: New Orleans, 1.50; Fort
Smith, 1.17; Little Rock, .31; Taylor, Texas, 1.22: San Antonio, .88; Cworpus
CHristi, .35; Memphis, 1.86, .
Above normal, Vicksburg, 6.04; Palestine, 3.33: Galveston, 1,70
This means that the ameunt of moisture during March was ncne too
great, and, with the exception of cold weather, conditions were generaily fa
vorable,
TUESDAY'S REVIEW, 4
NEW YORK, April 14 —ln response
to steady Ldverpool cables. the cotton
tmarket opened steady to-day, with first
prices at a net advance of I@4 points
from last night's close. The list grew
stronger after the call, based on the
bullish Census Bureau report on supply
and distribution of cotton during the
month of March, which showed cotton,
exclusive of linters, consumed during
March at 443,774 bales, a® compared
with 462,456 bales during the same
month Jast year. This, coupled with
considerable buying of May for Liver
pool account, caused active covering by
shorts, resulting in a further advance
and at the end of the first 30 minutes
the list had widened its initial gain to
465 points.
The weather conditions overnight
were regarded as unfavorable. The map
showing generally fair west of the Riv
er, with unseasonably low temperatures,
48 at San Antonio, 44 in central Texas.
Cloudy east of the River with general
rains, heavy in parts of Mississippi, Ala
bama, Ceorgia and Tennessee, with
rainstorm located over north Alabama.
Indications are for part cloudy to fair
and continued cool in the weslern
States, unsettled in the eastern Slates
and fair in the central belt.
A wave of profit-taking during the
early foremoon caused the list to lose
the entire early gain, but the market
ruled steady, with the demand coming
from strong sources.
The market was put under heavy sell
ing pressure during the late forenoon
by the ring and Wall street operators,
based on unfavorable Mexican news and
weakness in the stock market. Wall
street operators were probably the bes:
sellers. Selling from the quarter was
the result of an unexpected break in
stocks and traders sold cotton in order
to back up their stock. May was the
weakest option of the list, dropping 24
points from the opening to 12.41, whiie
July broke to 12,26, New crop positions
were also under pressure, dropping
about 19 points. The demand was scat
tered.
NEW ORLEANS, April 14.—The, cen
sus report on supply and distribution
published this morning shows that con
sumption in this eountry continues on a
record scale. Consumed by American
mills during March 493,774 bales this
yvear, against 462,455 bales last year,
making the total consumption by our
mills o far for the season 157,000 bales
greater than last year. Mill stocks in
this country at the end of March were
1,704,439, against 1,838,469 bales last
year
Liverpool was steadier than due and
shows large spot sales, total 10,000 bales
1l 5 points lower.
The map shows fair weather west of
the River, with rather low tempera
tures, 44 in south Texas. - Generally
TIHE GEORGIAN'S NEWS BRIEFS
cloudy east of the Mississippi River
with general rains, heavy in parts of
Mijssissippi, Alabama, Ge rgia and Ten
nessee. Indications are tor further
rains in east ‘Tennessee, north Georgia
and the Carolinas, increasing cloudiness
and rontinued cool in the Waestern
.:l?ws' generally fair in the. central
elt.
The feature aof the professional ad
vices from New York is that leading in
terests are uietly absorbing the aaily
scattered selling of May and July. ‘
Feh local market opened about 4
points higher on the bullish consump
tion statistics, but soon flattened out
under general selling, stimulated by
clearing weatner in the Central and
Western States, Selling on better
weather was in favor, although actual
facts are not very inviting to the short
side.
PORT RECEIPTS.
The foliowing table shows receipts at
the ports to-day compared with the
same day last year: N ey
boddid, - 1918
New Orleans. , .| 8,876 | 6,300
Galveston .. . . .} 8,434 | 8,015
MobHe: . .. 2,003 | 832
SAvannatr. -, - 0} 4,889 | 4,237
Cherleatolr. . , . .l 749 | 434
Wilmington . . .| 398 | 645
Norfeltle. . . . . . 715 1,915
New TOrE . . Lo 21
Boston, = . 2. 287 | 62
Peeific coast .5 .. i o 211,220
Varieus, . « il M L.
Tetal: ... 5 ¢ .. .1 25,535 | 33,690
INTERIGR MOVEMENT.
{lB4 | . Ans i
Boikton. ... | 8006 SR
Augusta. . . . . .| 447 1 207 |
Memphis. . . . .| 1,451 1,416 ‘
St. Louls, . . . .L....0..n 639 ‘
Cincinnati. . . .| 6 253
iEs - Moek . oLI iei 158
Totel: o v 4979 | 5,961
COTTON SEED OIL.
(Cotton seed oil guotations:
| Opening. | Closing.
T e o e e® |
Bpot . s ¢ o v ofievuaienies | LEI@TS6 |
Alprll “ieieiw ‘ 7.57@17.59 7.5587.57
May . . . . .| 7.87@7.68 | 7.51@7.53
gune & on Gl 7.6037!3 7.54@7.58
Wyo 0 3 7.66@7.67 | 7.56@7.63
August . . . . .| 7.73@1.75 | 170@1.71
September. . . .| 3.75 .77 3.‘.0@“2 |
October . . . . 7.20@7.35 ! ~2037.28 ‘
November . . . .| 6.60@7.10 | 6.83@6.90
T Closed steady; sales 11,500 barrels. |
——— ;
BAR SILVER. 4 ;
NEW YORK, April 14.—Bar mlver,i
584, ; Mexican dollars, 45%c. 1
NEW YORK,
Wednesday, April 8.
_.Bpot cotton; middling 13.99. _
i foeal
- o ;9
| §‘§‘=|3-.] 3 l
ot STB 13Nt B |EC
AD |recerclogonslssonclesess]lB.2o-30113.28-29
My '12.8312.8312.73/12.81 12.81-82'12.79-80
do: T odionliival i R Ii v
Jly (12.6012.52 12.43/12.5112.50-51112.48-50
Ag [12.2612.27 12.1112.25/12.26-27/12.24-25
B LR N
Oc [11.77/11.77/11.70/11.75/11.76-77(11.75-76
De (11.80(11.80/11.74/11.78{11,79 _ |11,79-80
Jn 111741074 11.69/11.6911.72-78]11.72-73
“Closed very steady.
Thursday, April 9.
Spot_cotton: middling 13.10.
< g el 8 9
g |8 slsel 5182
0 || | 3 a 0
Ap 1200 12.00 11.00 11.00 [2.95-05/13.20-30
My 12751277112 66/12.00 12.68-69 12.81-82
Jo ot 13 86-60113,66-70
Jy 12.45/12.48/12.3812.00 12.39-40/12.50-51
Ag 12.63(12.24112.1712 12.18-17(12,26-27
By Lo alasonils ol (1 TRBORRE TBO
Oc (11.73111,7311.66/11.00 1.68-69(11.76-77
De [11.76/11.76{11.69 1100 11.89 11.79
Jn (1070(11,70.11 61111001162 [11.72-78
Ciose dsteady.
Monday, April {3.
_ Spot catton; Tvi_(l_tll'lflg_l&-w.
| ‘
€ . . . ¢ :
g xlyl B
885 &|5
AD. | voiofenncslonciolersss|la.o4-94113.95-08
My |12.68 12.68/12.62 12.65 12.64-65 12.68-69
In fooieeoeeddiaados i, .112.66-60
Jy [12.38/12.4112.35/12.38/12.37-38]12.39-40
Ag (12.2012.2012.12/12.14/18.13-14/12.16-17
8D it ol stll 12-16{11:78-80
Oc |lB 1168 11.61/11'62)11'62 111.68-69
De '11.69/11.69/11,60/11.61/11.60-61 11.69
Jn [11.58/11.58/11.56/11.56/11.54-56111.62
Closed steady.
Tunda{{. April 14,
_Spot cotton; middling 13.40.
.
5 F o
[ . - »
§B| ¢l §| 2
ol Bl 3idgl © &G
Ap (12.91/12.91/12,72/12.72/12.62-67|12.84-94
My 112.65/12.68 12,40 12.42 12.42-43 12.64-65
IE ol a 0 AR 8
Jly [12.3812.42/12.2612.28 12.28-25112.57-38
Ag [12.14{12.17/12.03]12.03/12.03-0412.13-14
Sp [11.75,11.76/11.70,11.76/11.65-67 11.72-75
Oc 11.63/11.66(11.52/11.53/11.53-54/11.62
De (11.64]11.6511.50/11.52/11.52-53/11.60-61
Jn [11.56/11.5811.43/11.44/11.45-4611.54-56
Closed steady.
‘ . .
Mill Takings for
- Week 198,000 Bales
According to Secretary Hester, the
weekly visible supply of American cot
ton at the close of business last Friday,
April 9, showed a net increase of 87,092
bales, as compared with a decrease of
117,254 bales during the corresponding
week last vear and a decrease of 87,722
bales for the same week the year before.
Other kinds showed an increase of 50,-
000 bales, against a decrease of 5,000
Ihuh-s last year, compared with a de
;rreasn of 18,000 bales in 1913.
- The total visible supply of American
imnnn during the week decreased 37,002
' bales, as compared with a decrease of
122,526 bales for the same week last
| year and a decrease of 105,732 bales in
1012,
{ Worlds visible supple, o Lo
e 70.1‘1_'11’_'__1913._7‘__11'1‘.’.
| American ....'3,687,741(3,504,020 4,228,964
| Other kinds .:,2,001.711 1.’48‘,1.'@0 },2}1,()(7)0
_ Totals -.....15,688,7414,952,02015,439,969
World's spml_u»;g' takings:
| i li‘li___lgl}:im,__lfiw
| For week .| 198,000 271,000/ 288,030
! Since Sep. 110,868,000 10,618,000 1!.133,4."0(_)
{ _Movement into sight, week:
[ ROV RAER D R R s
| Overl'd w'k| 19,387 99241 23,185
| Since Sep. 1 1,019,261 966,455 1,064,716
In sight w'k! 111,198/ 152,419/ 189,601
} Since Sep. 113,500,968'12,769,009 14,568,106
ib‘ou. con...| 40,000 f 50,000 50,000
| _Weekly Tnterlor movement:
e = RV
| Becelpts .\..veovesaaerer] 61,987 57,942
lShipments dhasony s viess el it Q 0 19, 183
{ Stocks ...................1537,226[337.608
| T Weekly exports: =
B SR = ;fl 1914. | lf'l?,._
[ For weelk .= ... ... 77,483] 126,203
lflm-»- September 1....!7,781,47% 7,305,828
' NEW YORK PRODUCE.
| NEW YORK, April 14.—Petroleum
{ firm: crude Pennsylvania, 2.30.
Turpentine quiet, 47T@47%.
Rosin quiet; common, 4.10.
Wool firm; domestic fleece, 24@27:
{ pulled, scoured basis, 36@53; Texas,
i scoured basis, 40@56.
} Hides quiet; native steers, 17 (bid);
{ branded steers, 161, @16%.
; Coffee steady: options opened 4 to 3
i points decline; Rio, No. 7, spot. 2@9.
! Rice steady: domestic, ordinary tu
| prime, 3% @5%.
|~ Molasses steady: New Orleans, open
kettle, 35@55.
! Sugar, raw, firmer; centrifugal, 2.98;
4muqscovudo. nominal: molasses sugar,
1 2.38.
} Sugar, refined, steadier: fine granu
| lated, 3.75@3.90; cut loaf, 5.05; crushed,
1 4.95; mold A, 4.60: cubes, 4.00@4.15;
| powdered, 3.85@4.00; diamond A, 3.90,
| confectioners’ A, 3.65@3.80; softs, No. I.‘
3.50@3.65. (No. 2 is 5 points lower|
than No. 1, and Nos. 3 to 14 are each
5 points lower than the preceding
grade.)
Potatoes weak: white nearby. I.B@
2.75; sweets, 1.00@2.00.
Beans steady: marrow, choice, 4.85@
5.50; pea, choice, 3.20@3.65; red kidney.
choice, 5.25@5.30.
Dried fruits firm; apricots, choice to!
fancy, 16@17%;: apples, evaporated,
prime to fancy, 94 @12%; prunes, 30s to
€os,” 10%@12; 603 to 100 s, 6@10%;;
peaches, choice to fancy, 6% @8; seeded
raisins. choice to fancy, 5% @B%.
METAL MARKET.
NEW YORK, April 14 —The metal
market was weak to-day. Standard
Copper, spot to June, 14.15@14 20, spel
ter, 5.20@5.30; lead, 3.75@3.85; tin, 36.45
@36.75. ¢ 1
‘NEW ORLEANS,
w.dnuda{. April 8.
Spot cotton; middiing 13 1-16.
=Bt OO e
§1 8¢ ln" § ‘ 33
,o| & ‘ 5 /83| G__f':'
B ol sraan v LG 0E “.Zil >
My 12841296 12.58/12.9212.02 |12.91-92
Je { ....12.86-88(12.86-88
Ny ;12.35112.:5;1:.77‘12.:2;12.31-32!12.0142
Ag 12.61]12.63/12.6712.61)12.00-01/12.85-57
801 el vids ity sl BCTR RS
oc 178li1 1172 11181116 THHLT-18
De [11.76/1176/11.74/117,5/11.76-76/11.75-76
Jn |LL7B/11.78/11.7811.78/11.76-7 T 1.77-78
“Tloed steady.
Thurldas April 9.
Spot cotton; mid l’ing 15¢. 2
o . 1 . ° ‘v
< £ - >
FL eI 128 8.5 48
ol T w| © 10
S L e MM
My |12.85/12.90/12.81/12.82/12.81-82(12.92
Jly 12.7512.79112 7i{12.73/12.73 112.81-82
AE 12,5412 52/12.52]12.5312,47-48/12.00-01
B 9 1 culiosibic i io bl LS
Oc 111.70/11.76/11.69111.71111.70-T1111.76-77
Ny bbt cals ARSI L e
De |11.71111.7311.68/11.68/11.68-69/11.75-76
Jo [11.73011.78/11.71111.78{11.69-70{11.76-77
Closed steady.
Monday, April 13.
Spot colton; middling 1_1( g
£ £ 3 I“'o 3 l"g
=M It P 8
, 0 T .3 3’ 9 l t',?
Ap 1.....;.....;....A.....;1Z.58-GI 12.71-74
My /12.79 12379‘1'2‘7&12.7611‘.;.75-78112.81-82
I babliaali e 18A0IR LL co
By N27112.71112.65/1%67/12.66-67(12.73
Ag ‘12448.1‘.:.48'12.:;9 1z.3ui|1.38-40112.45-47
Sp ~.‘..|,A.‘.i,....!.,...n.'m [11.85
Oc 111.70111,70/11.63 11.65/11.54-55/11.70-71
Nv |l ielosisls i oMII,OB- 881816810
De |11:63/11.6311:61111.6211.61-62111.68-69
“Closed steady.
"ruuoa{, April 14,
_\_Qfl cnnon:_mi‘ dling 13e.
| ' 1
é =2 2 ° »
stk ‘=% 21
oL i 3 .Sm_ i 3]
A 0 Il asy INN
My [12.79/1286{12.60 1:.63/12.63-64/12.75-76
I Vb s AROOOSINL 1038
Jly [12.70(12.72112.56 12.58 12.57-58112.66-67
Ag 112.3812.38112.29112.29/12.26 |12.38-40
B 0 Lo e AR
Oc 111.89/11.69/11.56/11.57 11.57-58111.54-55
NV {ioounleneaafssosalssoeslll.s6-5811.02-60
De 111.66]11.66{11.55(11.55/11.53-55/11.61-62
(Closed steady.
In observance of Good Friday and
the RKaster holidays the New York
and New Orleans Coton Ixchanges
vlvore closed last Friday and Satur
day.
493,774 Bales Cotton
Consumed in March
WASHINGTON, April 14.—-A report
issued to-day by the Census Bureau
shows cotton, exclusive of linters, con
sumed during March, 492.77¢ running
bales in 1914, compared with 462.453
bales in 1913; held in manufacturing es
tablishments on March 31, 1,704,433
bales in 1914, and 1.828.468 in 1913, and
in independern. warehouses 1,833,979
bales in 1914 and 1.790,326 in 1913.
Imports 89,846 eqguivalent to 500-pound
bales in 1914 and 27,889 in 1913; ex
ports, including linters, 695.306 running
bales in 1914, and 372,074 in 1913. Cot
ton spindles active during March 31,
137,004 in 1914, and 30,375,028 in 1913,
Linters consumed during March 24.-
716 bales in 1814 and 23,118 in 1913;
held in manufacturing establishments
103,471 bales in 1914 and 93,083 in 1913,
and in independent warehouses 57,328
bales in 1914 and 40,790 in 1913, Ex
ported 39,619 bales in 1914,
ATLANTA LIVE STOCK MARKET.
(By W. H. White, Jr., of the White Proe
vision Company.)
Good to choice steers, 1.000 to 1,200,
$6.60@7,25.
Good steers, 800 to 1,000, $6.25@ 7.00.
Medium to good steers, 700 to 850, $5.50
@6.50.
Good to cheice beef cows, 800 to 500,
$5.50@6.25.
Medium to good cows, 700 to 809, $5.00
@5.75.
Good to choice heifers, 750 to 850, $5.25
@6.25.
Medium to good heifers, 650 to 750,
§4.50@5.50.
The above represents ruling prices of
good quality beef cattle. Inferior grades
and dairy types selling lower,
Medium to common steers, if -fat, 800
to 900, $5.50@6.50.
Mixed to common cows, if fat, 700 to
800, $4.30@5.50.
Mixed common, $3.5074.50.
Good butcher bulls, $4.25@5.25.
. éiood butcher hogs, 140 to 160, §8.50@
.60,
Prime hogs, 160 to 200, $8.70@8.80.
: Good butcher pigs, 100 to 140, §8.40@
.50,
Light pigs, 80 to 100, $8.0048.50.
Heavy and rough hogs, 200 to 300, $7.75
@8.50.
Above quotations apply to cornfed
hogs. Mast and peanut fattened I%ie
to 2¢ under.
LIVE STOCK MARKET.
CHICAGO, April 14.--Hogs— Receipts
12,000. Market steady. Mixed and
butchers, $8.65@8.90; rough heavy, $8.50
@8.70; light, $8.70@8.95;, pigs, $6.75@
8.60, bulk, $8.80@8."0.
Cattle—Receipts 35,000. Market steady.
Beeves, $7.25@9.50; cows and heifers,
$6.30@8.20; stockers and feeders, $6.25@
Kocg& Texans, $6.50@8.40; calves, 38.50@
10.00.
Sheep —Receipts 20,000. Market
steady. Native and Western, $4.50@
6.85; lambs, $5.75@8.50.
ST. LOUIS, April 14.—Cattle—Re
ceipts 3,800, im-ludinf 500 Southerns.
Market steady. Native beef steers,
$7.50@9.25; cows and heifers, $4.25@8.75;
stockers and feeders, $5.00@8.00; calves,
$6.00@11.50; Texas steers, $5.75@8.10;
cows and heifers, $4.50@6.65. .
Hogs—Receipts 9,500, Market steady.
Mixed, $8.80@8.95; good, $8.80@8.95;
pigs, $7.00@8.75: bulk, $8.80@8.50.
Sheep—Receipts 3,300, Market steady.
Mutton, $5.75@6.75; vearlings, 35.75@
;gg; lambs, $7 00@3.50; sheared, §6.75@