Newspaper Page Text
6
Tri-Weekly Market Reports
COTTON
NEW YORK, March 27.—The cot
ton market opened barely steady to-
K day at an advance of 5 points on
?' August, but generally 5 to 15 points
< lower under overnight selling orders
brought in by the declines of yes
fl terday afternoon. Liverpool made
h relatively steady showing, how
tver, and after selling off to 26.50
for Mav and 23.95 for October, prices
here rallied on trade buying and
| covering, accompanied by reiterat-
I ed reports of a better spot demand
K in the south. May sold up to 2..0S
F and October to 24.20 within the
first hour, making net advances of
12 to 13 points.
J The earlv rally carried May up to
27.15 and October to 21.20 or I- to
20 points net higher. These prices
j met increased offerings accompanied
' be rumors that mills were selling
hedges against stocks of yarns or
goods, and the market weakened.
May sold off to 26.75 and October
to 23.80, making net declines of
übout 20 points. Rumors of millsell
ing’, however, lacked confirmation
«nd the market steadied up several
points from the lowest on the west
ern belt forecast for unsettled show
ery weather. Trading was quiet
around midday with the market,
showing net declines of four to
fifteen points on the more active
' weakened in the early
afternoon under local and southern
selling. May was relatively steady
hut broke to 26.65 or 30 points net
lower while October sold off to -3.a
or 53 points below yesterday s clos
ing quotations. The market was un
it settled around 2 o’clock.
.NEW YORK COTTON
The following were the ruling prices In
the exchange today:
Tone, steady; middling. 26.80 c; quiet.
Last I‘rer.
Open. High. Low. Sale. Close. Close.
*>7 00 27.16 26.45 26.71 26.70 26.95
j,. !v 26.30 27.59 25.85 26.06 26.01 26.29
k n ,q. ..24.011 24.20 23.45 23.60 23.60 24.08
I per ..23.65 23.76 23.15 23.22 23.22 23.80
J, n 4" "3 42 22.85 22.95 22.95 23.40
I* n’:4s"a*. m. blds steady: May. 26 90: July.
26.30; October, 23.00; December, 23.r0; Jan
1-. uary, 23.20.
NEW ORLEANS COTTON
NEW ORLEANS, March 27—The
cotton market opened irregular,
first trades being 18 points up on
May, but 2 to 13 down on new crop
months, compared with the Previous
close. Prices weakened right after
the. opening, May easing off to
27.08, Julv 26.20, and October to
23 40, or 14 to 22 points net lower
compared with yesterdays close.
Poor cables speaking of labor trou
s. bles proved the main bearish in
fluence. Market appears to be de
cidedly narrow.
The market eased off further dur
ing the first hour of trading on cables
reporting the spread of labor trou
bles in Great Britain. May traded
down to 26.94, duly to 26.07 and Oc
tober to 23.25, or 37 to 46 points down
for the early high. Later prices
recovered a good part of the loss
on an unfavorable weather forecast
and reports of rain in Texas, there
were also advices increasing the
amount, to be shipped from New
& York to 70,000 bales.
: After showing a disposition to do
B better around noon on good local
<’ spot demand, particularly from Rus-
sia, the market turned weak during
the afternoon under heavy selling
pressure, particularly from a leading
■ operator at Palm Beach. May drop
ped to 26.60; July to 25.72 and Octo-
■ ber to 22.97, or 65 to 80 points down
from the early high, and 62 to 65
under the previous close. Bad dry
goods reports, a heavy drop in raw
silk, was the cause assigned for the
| selling.
NEW ORLEANS COTTON
• The following were the ruling prices In
the exchange today:
Tone, steady; middling, 27.13e; steady.
Last Prev,
Open. High. Low. Sale. Close. Close.
May ..27.40 27.40 26.60 26.85 26.80 27.22
July ..26.45 26.46 25.72 25.92 25.88 26.3>
I Oct. ..23.60 23.62 22.97 23.02 23.02 23.62
Dee. ..23.32 23.40 22.84 22.90 22.90 23.45
Jan 22.69 23.30
Noon bids steady and quiet; May, 2/.0/;
July. 26.21; October, 23.33; Decineber, 23.13;
January, 22.98.
SPOT COTTON
Atlanta, steady, 27.25 c.
New York, steady, 26.80 c.
j New Orleans, steady, 27.3 c,
K Galveston, steady, 27.50 c.
| Mobile, steady, 26.75 c.
Savannah, steady. 26.75 c.
; Wilmington, steady, 26.75 c.
I' Norfolk, steady, 26.90 c.
Augusta, steady, 27.25 c.
I' Boston, nominal.
Dallas, steady, 26.45 c.
St. Louis, nominal.
Montgomery, steady, 26.75e.
Houston, steady, 27.25 c.
Memphis, nominal.
Little Bock, steady, 27.75 c.
ATLANTA SPOT COTTON
Atlanta spot cotton 27.25 c
Receipts •••• l‘- , o
Shipments 03
P Stocks 25,417
LIVERPOOL COTTON
LIVERPOOL, March 27. Cotton spot
fair demand: prices easier, flood middling.
17.00(1: fully middling, 16.55 d; middling,
lO.IOd; low middling. 15.25(1: good ordi
nary, 11,25'1: ordinary. 13.7,'x1. Sales, 6,000
" bales, including 3,600 American. Receipts,
1,060 bale-. No American
r Futures closed barely steady, net 25 to
28 points lower than previous close.
Prev.
Open. Close. Close.
Tone, barely steady; .sales, 6,000; good
middling. 17.0181.
March 16.03 15.99 16.25
April 15.92 16. IS
Mtv 15.95 15.89 16.15
June 15.82 16.07
July 15.58 15,51 15.78
August 14.97 15.2.5
September 14.50 14.78
October 14.0 S 1(.00 14.28
November 13.73 13 69 13.90
Dec 13.63 1.1.91
Jan 13.56 13.52 13.80
, February 13.45 13.73
COTTONSEED OIL MARKET
Open. Close.
K Spots 9.60f<(10.00
March 9 6<('<i 9.90 9.60a, 10.(to
K 1 April 9.606/ 9.‘.H1 9.606/ 9.80
. May 9.87ft/’ '.(.90 9.770/ 9.78
' .tune 10.00(0 10.20 9.900/10.10
July 10.2661 10.27 10.170/10.19
August 10.350/10.38 10.200/10.30
Sept 19.400/ 10.44 10.350/ 10.36
October 9.906(10.15
Tone easy; sales. 12.000.
ATLANTA COTTONSEED PRODUCTS
(Corrected by Atlanta Commercial Ex
change.)
Bld. Asked.
C. S. meal. 1 per cent am
monia, car lots 35.00 35.50
C. 3. meal, at common rate
t points, car lots 36.00 36. <SO
C. S. hulls, loose, car 10t5.... 18.(Mt
<’. 3. hull*, sacked, car lots.. 21.00
Linters, first cut. 1O(<f 11 %c.
Linters, second cut (oottonsecd hulls fiber or
savings. 3®4c.
I.lnters, clean, mill run. s%(fi6'c.
Crude oil. basis prime tank..s 8.50
Liberty Bonds
NEW YORK. March 27 C. S. govern
ment bonds .losing:
Liberty 3%s P 5.26
First 4« 1(1/1 99.17
Second 4s :«•.'.(
t First 4% 99.15
Second 4%s 9'3.12
Third 4%« 100.1
Fourth 4’jS 99.15
Treasury 4' ( s 100.7
Silk Quotations
NEW TURK. March 27. Raw <lk. ease.
Prices (per pound): Kansai double extra
cracks. J 6.65416.75. Kansai best No. I. 86.5 u
»rtt.6O: Shinshn No. 1. 8(1.406(6.50: Canton
extras A 14 16. >5.706(5.8(1: Shanghai, China,
eteam t. I. I. gold double deer, 17.156(7.25.
THE AILAVIA IM-Ri.hntiY JuUHAav
l GRAIN
CHICAGO, (Thursday), March
27. —Wheat was off to a weak Jtart
today, meeting with further liquida
tion and stop loss selling’. May and
July reached new low levels on the
crop.
AU of the stop loss orders appa
retuly were c'ft.ned up around t IH.
.for May and with a reduction in
pr’.’ssure and covering by shorts for
profits the market recovered the
early decline However, t i.e buying
lackel tne power to lift values
much above the previous c’ose.
The firmness in Winnipeg sug
gested a good export business in
Manitobas over night. Milling de
mand was better.
Wheat closed %c lower to %c
higher. May, $1.01% to sl.Ol % ;
July, $1.03% to $1.03%; September,
SIX 4%.
Corn had a severe slump, one of
the worst this season. The decline
was started by local bear raiders,
who forced the price down to a lev
el where stop loss selling was in
evitable, and as the decline got tin
der way there was more liquidation.
Shorts took profits on the decline,
but it will take a day or two before
confidence is restored in the con
servative side of the market. Ship
ping demand was light, and this
offset the effect of light receipts.
Cash corn discounts were 1-2 cent
narrower.
Corn closed l%c to l%c lower.
May, 75%c t0.75%c; July, 77%c to
77 1 /->c; September, 77%c.
Oats followed the lead of other
grains. Liquidation and stop loss
selling caused the break, and profit
taking bv shorts stopped it.
Oats were %c to I%c lower; May,
45%e; July, 43%c; September, 40%c.
Provisions were neglected, and
aside from a few trades in lard at
about previous closing levels there
was no trade.
Lard and ribs closed unchanged to
2%c higher.
CHICAGO QUOTATIONS
The following wore the ruling price* I*
the exchange today:
Prev.
Open. High. Low. Close. Close.
WHEAT—
May ... 1.01% 1.01% 1.00% 1.01% 1.01%
Jv. I y ... 1.03 % 1 .03 % 1.02% 1.03 % 1.03%
.Sept. .. 1.04% 1.04% 1.03% 1.04% 1.03%
CORN—
May .... 77% 77% 75% 75% 77%
July .... 78% 78% 77 77% 78%
Sept 79 79 77; 77% 79%
OATS—
May .... 46 46 44% 45% 45%
July .... 44% 44% 43 43% 44
Sept 41% 41% 40 40% 41%
LARD—
May ... 11.10 11.10 11.02 11.02 11.02
Julv ...11.25 11.27 11.25 11.25 11.25
RIBS—
May ... 9.52 9.52 9.52 9.52 9.50
Julv 9.85 9.85
BELLIES—
Mav 10.32 10.32
July ... 10.65 10.65 10.65 10.65 10.67
RECEIPTS IN CHICAGO
Today
Wheat 6 cars
Corn 82 cars
Oats 32 cars
Hogs 27,000 head
CHICAGO CASH QUOTATIONS
CHICAGO, March 27. —Wheat, No. 1,
hard. $1.07%: No. 2 hard. $1.03’/ 4 @1.04%.
Corn. No. 3 mixed, 74(/i74%e; No. 2 yel
low. 78%/>.
Oats, No. 2 white, 47%@48e; No. 3
white, 46frj47c.
Rye, No. 4, 64%C.
Bariev, 72@84c.
Timothy seed, $5.<50@8.00.
Clover seed, $16.50@23.50.
Lard, $10.90.
Rihs. $9.37.
Bellies, $10.25.
KANSAS CITY QUOTATIONS
KANSAS CITY, Mo.. March 27.—Wheat,
No. 2 hard, »8(a$1.l9; No. 2 red, $ 1.04 (a
I.
Corn, No. 2 yellow, 73(7('73%c; No, 2
mixed, 71%(«'-72c.
Oats, No. 2 white, 48%(/(49c.
TOLEDO QUOTATIONS
TOLEDO. Ohio, March 27. —Clover seed,
old. $13.75, asked: new. $11.90: March,
$11.90: October. $12.50. Alsike, $9.00.
Timothy seed, $3.80; March, $3.80; May,
$3.85.
BALTIMORE QUOTATIONS
BALTIMORE, Md., March 27.—Wheat,
closing, No. 2 red whiter spot, $1.06%.
export: No. 2 garlicky spot, domestic,
$1.07%. •
FLAX QUOTATIONS
DULCTH. Minn., March 27.—Close: Flax,
March $2.39; May. $2.32: July, $2.30%.
Sugar Market
NEW YORK, March 27.—Raw sugar was
quieter early today anil no fresh business
was reported. Prices were unchanged at
6.65 for Cubits, duty paid.
After opening four points lower to one
point higher, raw sugar futures rallied on
covering ami scattered commission bouse
buying, with prices at one time showing
net advances of one to four points. Around
mlddiiy offerings increased ami reactions
followed with noon prices one to two points
net lower.
Prices for refined sugar were unchanged
to ten |>oints lower, fine granulated being
quoted at 8.40 Io 8.50. The demand con
tinned light.
Refilled futures nominal.
NEW YORK RAW SUGAR MARKET
Open. Close.
Mav 4.92 5.0 1
Inly 5.01 5.1(1
September 4.98 5.06
December 4.52 4.<>9
NEW YORK COFFEE MARKET
NEW YORK. March 27.—Coffee Rio No.
7. la'-e; Santos No. 4, 19%e.
Open. Close.
Mac 13.62 13.60
July 12.95 12.90
September 12.25 12.35
October 12.30 12.20
December 11.85 11.85(rl 11 .89
NEW YORK "PRODUCE MARKET
NEM YORK. March 27. Flour, quiet and
unchanged.
Pork, dull: mess. 524.75 ft( 25.75.
I.arJ. steady; middle west spot, $11.,>5(1l
11.
Sugar Raw. easier: centrifugal. 96-test.
$6.60: refined, inactive; granulated, $8.40
(a 8.60.'
Coffee Rio No. 7. on spot, 15' i (<J. 15%e:
No. 4 Santos. P.lto 20e.
Tallow, steady, specials 7’ ,6/ 7 < ,c.
Hay. quiet; No. 1. $1.30; No. 3. sl.ls(tj
1.25; clover, 81.05 ft/ 1.35.
Dressed poultry, stead.': turkeys, 286 f
45c: chick 'ns, 18ft/32e: fowls.
capons, 28<1i45c; ducks, 20@27e; 1.. L, 25(<(
26e.
Live poultry, ill’ll: geese. 20ft/21i.: ducks.
15ft/34c: fowls. 27ft/'2Si-; turkeys 356145, ;
capons. 35(1/ 12e; chickens, 27f</35c; broil
ers. 50@50e.
Cl’.eese. steady; state milk, common to
special-. 16</r2sc' skims, common to spe
cials. 12@19e: low grades, 5011-.
Butter, weaker receipts, 6.615: cream
ery. extra. 43%e; do. special market. 43%
ftz’ll'.je: state <lalry. tubs, 38(//43e: Dau
isb. 44@45e: Argentine, 38' 4 (<i 42’ 4 c.
Fugs Steady- receipts, 32,211: nearby
white fancy, : tft/:,5e; nearby state whites.
256/33c: fresh firsts. 23'(ft/27>-: Pacific
/•oasi extras. 23>,f/(35e: western whites.
256/33c nearby browns. 28ft/30c.
CHICAGO PRODUCE MARKET
| CHICAGO. March 27.—Butter, receipts.
ii. 213: creamery, extras, 43’..: creamery
I standards. 13: firsts, 41%fti42; seconds.
I 40' ..'// 42.
Eggs, receipts. 13,850: ordinaries. IP’./b
20: firsts, 216/21'..
Cheese. ’Twins, 20'/i2OL-: Y oung Americas.
21 '..
Live poultry, none: fowls, 25: ducks. 28:
geese. 46; springs, 29; turkeys, 25; roos
ters. 17.
Potatoes. 2s t ears: Wisconsin round
whiles. 51.25'// 1.35: Minnesota and North
Dakota Red River Ohtos, $1.30'//1.45: Idaho
Russets, 82.752.55; Wisconsin Rurals.
Cl. 45.
METAL MARKET
NEW YORK. March 27. -Copper, easy,
electrolytic, spot and near-by, I3l._.'<} 13%:
futures. 13%6(13 s 4: tin. firm: spot and near
by. 852.(81; futures, $50.75: iron, steady,
prices unchanged: lead, steady; si>ot, $9.00;
zine, steady: East St. Louis, spot an! fu
tures. 86.30'u’6.35: antimouy. spot. sl2. po.
Crown Prince of Belgium
To Wed Italian Princess
| liOMl’l. March 27.—The newspaper
i Xnovo Paese today says that an of
-1 ficial announcement may be expect
ed soon of the engagement of Prin
cess Mafalda. second daughter of the
[ king and queen, to the crown prince
;■ es Belgium.
'24 COTTON SEASON
WILL OPEN UNDER
FAMINE CONDITION
C. B. Howard, general sales man
ager of the American Cotton Grow
: e.rs Exchange, with offices in At
lanta, has written a review of the
cotton situation “in view of the
present unwarranted attack on cot
i ton values,” which The Journal re-
I produces, as follows:
"The bearish hysteria of the cot-
I ton market in the recent past is, in
view of world conditions, incompre
hensible except upon a psychological
basis.
"Briefly, the facts are that Amer
ican growth is about 400,000 in ex«
cess of last year, other countries
probably less than last season, a
world’s production about the same
as last year, or a supply this season
two or three millions less than last
season. Prices now three cents be
low same date last year and new
crop also cheaper. At the begin
ning of last season India and China
had large stocks of goods. These
have been consumed and. they are
again buying from mills. Various
governments had stocks of war
goods, duck, etc., which have now
been sold and consumed. The world’s
trade and buying power is on a far
higher plane than the commence
ment of last season. Not only is
greater business being done here at
home, but Argentina. Brazil, Chile,
Cuba, the Far East and Europe it
self are in far better condition than
at that time. More cotton goods are
being sold over the counter and be
ing used for industrial purposes than
for several years. Even if Mr. Hoo
ver’s special committee makes no
changes in the census carry-over
and we accept it as correct, every
one knows that there must come
a. tremendous increase in curtail
ment or shutting down of mills be
fore new crops are available in or
der to bring consumption within
the limits of supply.
No Surplus in Sight
“Surely the trade can not have
forgotten so quickly the object les
son of this season—an acreage of
thirty-eight million producing only
slightly ovei - ten million bales of
cotton. What would ten million
mean next season or twelve million?
We will have no surplus the end of
this season to fall back upon as we
have had in the past and world con
ditions continue to improve and will
continue to improve. It is just as
sure that trade will work upward
toward its normal as that water
will seek its level. Suppose Euro
pean difficulties should be adjusted
shortly, and it is only a matter of
time —probably a short time now,
when they will be.
“We know' that foreign mills have
negligible stocks of cotton, that con
ditions have forced them to buy in
a hand-to-mouth way, that German
mills for some weeks have been run
ning full, some at night, and sell
ing most of their production to then
own people. When the International
Federation of Master Spinners is
sues its report on consumption of
foreign spinners, it will likely sur
prise many who have not thought
much of what has become of our
large exports, nearly 700,000 bales
in excess of last season, and which
still continue heavy. The American
mill stock March 1 was 440,000 bales
below same date last year and yet
their percentage of curtailment is
small.
"Methods of selling goods have
changed. Distributors no longer
carry the heavy stocks they for
merly did and for months they have
bought even these lighter stocks in
a hand-to-mouth way. but must buy
more frequently. There has been
and will be no buyers’ strike of the
ultimate consumer so long as busi
ness is good and he has the money
to supply his wants. He is still buy
ing and distributors are certain to
supply him.
Bears to Blame
“All of these admitted facts are
temporarily lost sight of and are
without present effect. Powerful
bears have pounded the market and
issued bearish propaganda until
they have created a •distrust and
loss in faith in values, obscured and
put in the’background the funda
mentally bullish conditions and
caused converters, wholesalers and
retailers, and consequently mills, to
anticipate lower prices, and refrain
from buying as long as possible ami
in as limited degree as possible. All
of this, however, renders the situa-1
tion increasingly acute. We may
compress steam, but something is
liable to happen when the pressure
becomes too great.
"What this year’s acreage may be
is. of course, yet unknown. Some
sections may increase but there m
little doubt that some of the older
states which had large acreage last
year and small production, will plant
less.
"There is very little -,’tton left
in first hands. Into sight figures
indicate this. Most of the cotton
not jet in sight is at the scores of
uncounted compress towns owned L'J
cotton merchants and hedges sold
against same. Mills have sold cot
ton hedges against stocks of manu
factured goods. When this cotton
and these goods are sold the owners
must buy contract hedges. There
will be no one except a speculative
short seller to supply this buying
demand.
Don’t "Follow the Crowd'
“Our southern speculators too fre
quently "follow the crowd" and get ;
nipped in the process. I wish to
warn them to think twice before
selling short under present and pros
pective conditions.
"We are on the verge of a situa
tion which has never existed in the
lifetime of any business man of to- I
day. We will begin next season un
der practically famine conditions j
and absolutely dependent upon the i
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r C (CgpyntYi'. by H c y
next crop for a supply. The Ameri
can crop for the past, three years
under so-called high price conditions
has been less than 9,500,000 bales.
As Weil Brothers have pointed out,
each state would have to produce
its largest crop of the past three
years to give a yield of 12,000,000
bales, and even xvith 12,000,000.
where are we? Years ago the world
consumed 15,000,000 American.
Census carry-over July 31, 1925:
American mill stocks 977,000
Warehouse stocks 866,000
On farms 60,000
. 1,903,000
This year’s crop .t 0.160,000
Total supply 12,063,00
American consumption to
March 1 3.410,000
Exports to March 1 4,302,000
American consumption five
months (estimated 475,000
per month) 2,375,000
Exports five months (esti-
mated) 1.200,000
11,287,000
Stock in America, July 31,
1924, including .mill
stocks, public warehouses
and on farms 776,000
Above figures exclusive of foreign
cotton and linters.
These estimates of American con
sumption and exports are reasonable
if cotton can be had. With a famine
supply on July 31, and, of course, all
of the statistical supply will not be
available, with the early producing
sections later than usual, what will
American mills do for cotton in Au
gust and September and foreign
mills in August, September and Oc
tober?
"The government added 579,000
bales last July 31 ‘to balance distri
bution,’ or about 400,000 more than
the average of several previous years
for this purpose. If last year’s high
prices drew out this amount of hid
den supplies, it is reasonable to pre
sume that it left the interior prac
tically bare of cotton and the figures
to balance distribution,’ this year
will be extremely small.
"The present bear drive is the pre
lude to a big bull movement, having
as part of its object an inducement
to the farmer to increase his acreage.
Mark my words, we will shortly see
the speculative interests reverse
their position, the at present latent
extreme bullishness of the situation
will be prominently brought out, the
improbability of a sufficient growth
next season under weevil conditions
will be exploited, improvement in
the world’s trade and political con
ditions will be exploited and widely
advertised, on the advancing market
goods buyers will compete xvith each
other for the limited supplies and
one will wonder why he was so blind
as not to have seen that such a de
velopment was inevitable under ex
isting conditions.
“The correction in carry-over just
made by the Hoover committee will
reduce the above figures just to that
extent.”
HAMON BOUGHT UP
ALL OF OPPOSITION,
EX-OUTLAW SAYS
(Continued from Page 1)
New York last night. The Missouri
senator was quoted as having said
the oil inquiry was accomplishing
very, little; that the people were
weary of it, and that things just a,s
bad had happened under Interior
Secretary Lane’s administration as
under Secretary Fall.
Walsh Asks Facts
Senator Walsh said he would pass
over the “impropriety" of a member
of the committee commenting on its
work iu that way, and would ask
Senator Spencer on what informa
tion he based the. statement about
Secretary Lane’s administration, so
the committee could investigate it.
Senator Spencer replied he would
produce his facts in "good time’’
after he had made further investi
gation.
“Do you believe the truth of your
statement?” asked Senator Walsh.
“I do not deny it,” Senator Spen
cer returned.
Then Senator Spencer >id there
was a report that Senator Walsh
had visited E. L. Doheny on his
private car to ascertain to what he
would testify.
“If the senator asks me about
that,’’ Senator Walsh interrupted. “1
will tell him 1 never talked with
Doheny befor he api eared here, and
never saw his private car.”
The crowd broke into applause,
and the committee adjourned until
tomorrow.
iiAMBONE’S MEDITATIONS
By J. P. Alley
Ip BE ALL R.IGMT EF I
COULT> JES' 6 it all nay
PEBTS PAip whut Folks
owes >
to
<ropyrl»l>«, IM4. Tb , jvil
EXHAUSTION IS SEEN
OF LOEffIEB SUPPLY
IN SOUTH IN ID YEMS
AV ASHINGTON, March 27.—Do
mestic lumber production is three
I times the annual replacement
through new growth, according to
a special report of the agricultural
department, made in connection with
its indorsement of the proposal that
a fofest experiment station be es
tablished “in the southern line re
gion of the United States.” The de
partment estimated that 97 per cent
of the mills now operating in the
south will have used their reserve
timber within ten years, adding that
these mills control all available vir
gin timber.
’’There can be no question,” the
report said, "of the urgent need of
the establishment of such a station
in the southern states at the earliest
possible moment. A few facts as to
the present forest situation will
make this clear.
“Recent estimates indicate that
the production of gum ( naval stores
in the southern pine belt will, with
in ten years, have’ beeh reduced to
such an extent that the export mar
ket, and even our own, must look
elsewhere for their main supply. In
North Carolina, which was for many
years the leading state, the produc
tion of naval stores is now negligi
ble, as is also the case in South
Carolina. Georgia and Alabama will
be practically eliminated as large
producers of naval stores within
five years, Florida and Mississippi
in eight years, Texas in ten years,
and Louisiana, the last stronghold
of the industry, in fifteen years. De
structive methods of turpentining,
coupled with lack of intelligent for
est management, has helped to bring
the naval stores industry to its pres
ent position.
“Many well-informed lumbermen
place the duration of Ihe important
commercial cut at no longer than
ten years. Although the cut of
hardwood in the southern Missis
sippi valley is still on the increase,
this last of the great hardwood re
gions of the country is well on its
way toward complete exploitation
and it is only a question of time
when the virgin stands and large
mills of today will be replaced by
culled second-grade stands operated
by small portable mills. While the
bulk of the bottom lands stands are
on the furtile soil which will, for
the most part, be clear for agricul
ture, there are also large areas par
ticularly in the uplands which can
and should be used for the perma
nent production of timber."
Senator La Follette
Has Pneumonia, His
Physicians Announce
i WASHINGTON, March 27.—Sen-
I ator LaFollette, progressive leader,
I has developed pneumonia, it was an-
I nounced here today.
A statement by LaFollette's doc
tors follows:
"Senator LaFollette has developed
pneumonia. His present condition is
satisfactory.
(Signed):
"DR. C. C. MARBURY,
“DR. T. S. LEE.
"DR. B. R. RANDOLPH.”
Senator LaFollette has been ab
sent from his office for several
w sk’s and his condtion heretofore
has been reported from his home as
being nothing more serious than a
cold. Some time ago he had influ
enza, which left him in a weakened
condition.
Senator LaFollette for several
years has suffered frequent, bilious
attacks which at times have been
so acute as to require emergency
treatment and to incapacitate him
temporarily.
SOX OF LA FOLLETTE
HURRIES TO WASHINGTON
MADISON, W’is., March 27.—Philip
La Follette, son of Senator R. M.
lai Follette, left Madison this morn
ing for Washington, having been
I summoned to the bedside of the sen
| ator, who is reported ill with pneu
j monia. Other members of Senator
I La Follette’s family are in Washing
ton.
Spending His 84th
Birthday on Golf Links
NEW YORK, March 27. —George
E. Baker, chairman of the First
National bank, of New A ork city,
I was spending his eighty-fourth birth
day in Asheville. N. C., today, play
ing golf and devoting himself active
ly to business affairs. He stopped in
1 Asheville on his way home from
! Jekyl Island, Ga. One of Mr. Bak
er’s friends here said he would give
several hours of his birthday to the
j consideration of a successor to toe
■ late A. H. Smith, as president of the
New York Central.
U. S. Army Aviator
Believed to Have Set
New Altitude Record
DAYTON. 0.. Mai’ h 27.—Flying
. a special airplane, equipped with a
' side type super charger. Lieutenant
Harold R. Harris today flew to a
. height of 28,411 feet, carrying a
I dead-weight of 589 pounds. It is
' believed to be a world’s record. The
I former record of 27,777 feet under
I .similar load conditions was made in
France.
Official announcements will be
made following calibration of Har
ris’ instruments. \
Fort Gaines Pastor
Leads Congregation
In Construction Work
FORT GAINES, Ga., March 27.--
I Bankers, lawyers and men of all
ranks of life, have donned overalls
along with the pastor of the Fort
Gaines Baptis tchurch, Rev. Hoke
Shirley, to make excavations under
the church building and to con
struct therein ten new rooms for
the Sunday school. All the work
will be done by members of the
church and Sunday school, taking
turns at. the job.
BIGAMIST PBOVES
MISSING SECRETARY
OF GRID ASSOCIATION
GREENSBORO, N. C.. March 27.
James E. Scholefield, held for the
grand jury in the county jail here
after pleading guilty to a charge of
bigamy, today admitted that he is
the missing former secretary of the
United States Football association.
He declined, however, to discuss re
ports that he is wanted in New
York on charges of embezzlement
and that he jumped his bond.
Scholefield was arraigned in mu
nicipal court here yesterday on
the charge of having married Miss
Nina Fulton, Greensboro society
woman, at Winston Salem last De
cember, while he already had an
other wife. The first Wife, Mrs. Ruth
Archie Scholefield, who says Schole
field married her in Bristol, Conn.,
in 1920, was the chief witness
against the former football associa
tion official. She traced him from
New England through Virginia and
finally caused his arrest here.
When arraigned Scholefield ad
mitted the two marriages and was
held in SIO,OOO bail to th_ grand
jury. He was unable to arrange
bond.
“When I met Mrs. Scholefield
(wife No. 1) I was secretary of the
United States Football association,”
Scholefield said today. “I went to
New York in connection with' my
business and got into fast company.
I absented myself from my office
for a considerable time and tnere
was an interval of several days -that
I don’t remember anything about.
When I came to myself I was
stranded in Rhode Island.
“Itj was several months before I
got a start at all,” he continued. “I
engaged in salvation army work as
campaign manager in Danville.
Staunton, Salem, Cumberland and
Fredericksburg, Virginia, raising
funds for the organization.
“I raised about SI,OOO a week while
I was doing that work for almost
a year receiving nothing but my
bare expenses. It was a work of
love. I plunged into religious work,
visiting jails, visiting the sick and
doing relief work that the Salvation
Army officers are called upon to
do.”
About this time Scholefield said,
he became connected with the Cham
ber of Commerce of Fredericksburg,
Va., and conducted Salvation Army
Red Cross and other campaigns for
funds for philanthropic work. He
naid he then became dissatisfied and
decided to go to some other place,
finally coming to Greensboro, wh.re
he obtained employment as an ex
pert accountant with an automobile
concern.
Kentucky Member
Os House Indicted
For Conspiracies
WASHINGTON. March 27.—Rep
resentative John W. Langley, Re
publican, of Kentucky, was indicted
by a federal grand jury here today
on a charge of conspiracy to inter
fere with the operations of the gov
ernment.
Two indictments were returned
against Langley, one individually
and the other with several defend
ants.
Others indicted are Millard F.
West, a deputy commissioner of In
ternal revenue: Russell M. Sackett
a prohibition agent; Ben L. Moses
and Harry Sattler, partners in the
Union Drug company, of Pittsburg,
one one Sidney Reis, not fully iden
tified in the indictment.
Langley is said to have been one
of those referred to by the Chicago
grand jury which said two members
of the house had used their official
influence improperly.
No other members of congress
were indicted.
It is alleged that Langley and five
other defendants combined to defraud
the United States of certain taxes to
become due it and “corruptly” defeat
the administration of the internal
revenue laws and the national prohi
bition act.
The indictment charges that the
accused men, with others, formed a
conspiracy to pay SIOO,OOO to Elias
H. Mortimer, the star witness in the
Veterans’ bureau investigation; Her
mann Geltzeiler, and Donald J. De
lancey to procure the purchase, with- ’
drawn 1 and transportation by Moses
and Sattler of whisky from a dis
tillery warehouse to the Union Drug
company.
It is charged in the indictment that i
$5,000 was paid to Representative
Langley to prevail upon him to In
duce West. John F. Krumer, Arthur:
McKean, Ralph E. Clepper and Rus- 1
sell M. Sackett to "connive” at the
removal and transportation of the :
whisky by “promises of official ten
ure and promotion.”
SA’f I (ilz.W, MAiieil Lff, 11'2.1.
GREAT THRONG SEES
RED HAT CONFERRED
ON TWO AMEBICANS
ROME, March 27.—(8y the Asso
ciated Press.)—Pope Pius today pub
licly conferred the red hat on Car
dinals Hayes and Mundelein, the final
act in the elevation of the two Ameri
can prelates to membership in the
Sacred college. The ceremony, per
formed in the right transept of St.
Peter's, was carried out with al)
pomp and pageantry of the Roman
Catholic church in a setting the like
of which does not exist elsewhere.
It was the first public consistory
ever held in the huge basilica, and
was witnessed by a congregation
which in numbers exceeded three or
four times those attending similar
functions in the past. It was truly
an American day, both from the fact
that the only cardinals raised were
United States citizens, as were the
great majority of the spectators.
The crowd began assembling at an
early hour. A steady stream of peo
ple poured into the vast edifice ,the
men wearing the required full dress
an dthe women the high necked
gowns and veils prescribed for papal
functions.
Besides filling the transept the pop-
BUY 0® SELL
Classified advertisements In The Trl-Weekly Journal can be used by our
readers to sell anything useful to others and to buy many things they nitd.
Oftentimes things are offered foi fess than market price.
The rate for this advertising is 60 cents a line tor a week —three issues, be
ginning Tuesday. Six usual words are counted as a line. Two lines is the
smallest ad used.
Send your a<l with payment to reach us by Saturday.
THE TM-WEEKLY JOURNAL
ATLANTA, GA.
WANTED HELP—MALE | FOR SALE—PLANTS
MEN-WOMEN, 18 up, wanted. Get steady
work. Sure pay, $133 to $250 month.
Quick raise. Pleasant work. No layoffs.
Vacation with pay. U. S. government life
positions. For list positions write iinme
didately, today sure. Franklin Institute,
Dept. J-78, Rochester, N. Y.
YOUNG men. if you want to train for a
real job, get this book entitled "About
Men and Their Work.” It outlines oppor
tunities offered as agent telegraphers,
freight clerks, etc. It’s free. Write South
eastern Kailroad College, 207 W. Peachtree,
; Atlanta.
EARN monev at home during spare time paint
ing lamp shades, pillow tops for us; no can
vassing. easy and interesting work: experience un
necessary. Nileart Company, 2258, Fort Wayne,
Ind.
ALE men. women, boys, girls, 17 to 65, "fill
ing to accept government positions, sll7-
$250, traveling or stationary, write Mr.
■ Ozment, 164 St. Louis, Mo., immediately.
BE A DETECTIVE—ExceIIent opportunity;
good pay; travel. Write C. T. Ludwig.
168 Westover bldg., Kansas City, Mo.
BE a detective. SSO-?100 weekly; travel over
world; experience unnecessary. American
Detective Agency, 1013 Columbia. St. Louis.
WANTED HELP—FEM.ALE
WANTED —Women to do fancy work at
home. Spare hours. Material furnished.
Good pay. Stamped envelope brings par
ticulars Underwood Art Goods Company.
Portsmouth. Ohio.
WANTED—AGENITS
GET OUR FREE SAMPLE CASE—Toilet
articles, perfumes and specialties. Won
derfully profitable. La Derma Co., Dept.
KJ, St. Louis, Mo.
Tobacco Factory Wants Salesmen
State experience and give reference. Han-
I cock Bros. & Co., CIOO, Danville, Va.
! WE pay S2OO monthly salary, furnish car and
expenses to introduce our guaranteed poultry
and stock powders. Bigler Company. X-664,
Springfield, Illinois.
WE START YOU WITHOUT A DOLLAR. Soaps,
Extracts, Perfumes, Toilet Goods. Experi
ence unnecessary. Carnation Co.. Dept 240. St.
Louia.
WE PAY SSO A WEEK and expenses and give
a Ford auto to men to introduce poultry and
stock compounds. Imperial Co.. D-56 Parsons.
Kans.
WOMEN, girls, wanted. Learn gown-mak
ing at home, $35 week. Sample lessons
free. Franklin Institute, Dept. J-510,
Rochester, N. Y.
FRUIT TREES for sale. Agents wanted.
Concord Nurseries. Dept. 20. Concord. Ga
FRUIT TKEE 8 A LE S M E N—Profitable
pleasant, permanent work. Good side line
for farmers, teacher* and others. Concoru
Nurseries. Dept. 20. Concord. Ga.
PERSONAL
JOHN FRANCIS has discovered the only
permanent cure for indigestion, constipa
tion, piles; no drugs, exercise, dieting; en
dorsed by medical profession; copyrighted;
price $3; cured forever. 834 Broughton st.,
Victoria. B. 0.
M’MILLAN’S GRINGONE cures all forms of
ITCH. Guaranteed. Not greasy. ONE
application (occasionally two, rarely three)
only. Postpaid. $1.65. Carefully tested.
McMillan Drug Co., 1300 Main ave., Colum
bia. S. C.
TEACHER—Let me tell you how to get a
first-grade license. B. 8. Holden, Ellijay,
Georgia.
WANTED- Antique desk, handsome, but not
too large. G., 28. Journal.
FOR SALE—SEED
KING’S Early Improved—Large boll, big
turnout, weevil beater; wonderful oppor
tunity for cutton farmers. Write for facts.
King Cotton Seed Co., Lavonia, Ga.
HEAVY FRLITER COTTON—Out yields all
others under weevil conditions. Get proofs
from your own state. E. S. Manley, Carnes
ville, Ga.
LAREDO Soy Beans. Free package for the
addresses of 25 good cottou growers. Box
14. Carnesville. Ga.
PROLIFIC seed corn, $2 bushel, delivered.
Fulgent Seed Company, Austell. Georgia.
ulace also occupied the spacious main
aisle through which the papal pro
cession passed from the Vatican, ft
i sestimated that there were easily
ten thousand persons present.
Girl Leaps From Train
INDIANA HARBOR. Ind.—Fright
ened by the actions of a man seated
beside her in a train. Miss Margaret
Hogan ran to the door and leaped
off. She was badly hurt.
Night
coughing—
exhausts you so that you are
more tired in the morning
lhau when you went to bed.
Dr. King's New Discovery
stops coughing by gently
stimulating the
mucous mem- ©
branes to throw j|
off clogging se- z
cretions. It has /
an agreeable]
taste. All drug-i ;
gists. \
FROST-PROOF CABBAGE PLANTS—For ,
immediate shipment, Early Jersey, Big
Type Charleston, Flat Dutch, Succession;!
prepaid mail, 2(X), 60c; 400, $1; 1,000, $2;
by express .$1.50 per thousand; immediate 1
delivery. Moultrie Plant Co.. Moultrie, Ga.
NANCY HALL and Porto Rico potato
plants, in root protection. 500, $1.18; I
1,000, $2.18 postpaid; nice basket free. Cab
bage and tomatoes, .’>oo, 75c; 1.000, $1.40
postpaid. Kentucky Plant Co., Hawesville,
Kentucky. - i
MURRAY’S genuine Wakefield Cabbage I
Plants. 500, $1.25; 1,000, $2.25, postage
paid. Genuine Porto Rico potato plants!
same price. Order now. Murray Plant Co.,
Columbus, Ga.
FROST-PROOF cabbage plants. 500 for,
$1.25; 1,000 for $2; Wakefield, Charles
ton or Gersey; parcel post prepaid. Pitts
Plant Co., Fitzgerald, Ga.
PORTO RICO potato plants, $2 thousand: 1
five thousand and up SI.BO thousand; trits
to name and fully guaranteed. J. H. Brig- ■
man, Baxley, Ga.
WANTED—FARMS .
FARM WANTED—lmmediately, from owner. I
Send particulars. Mrs. Roberts. Box 64,
Roodhouse. 111.
WANTED—To hear from owner having farm
or unimproved land for sale. John J.
Black. Chippewa Falls. Wisconsin.
~
QUALITY CHICKS—I 4 pure bred varieties, 109
per cent live delivery guaranted. Our Hth season. ,
Satisfaction guaranteed. Bank reference. Special ■
prices and illustrated catalog free. Lindstrom
Hatchery, Box 2C7-J. Clinton. Mo.
QUALITY chicks, egg*; fifteen standard ,
bred varieties: best winter laying strains.
Free delivery. Reasonable prices. Cata
logue free. Missouri Poultry Farms, Colum
bia, Mo.
QUALITY CHIN, be up; 12 kinds; guaran
teed delivery. Valuable ehick inform.i
tio.i FREE. Quality Poultry Farms, Box
2268, Windsor. Mo.
BABY CHICKS —Send for .valuable free
chick-book and exceptional 11)24 prices.
Rusk Brothers, Box 133, Windsor, Mo.
PURE black War Horse, free range, game
eggs at $1.50 per setting. Janies Col
cough. Penfield, Ga.
FOR SALE—
U. 8. GOVERNMENT saddles, complete
with fender" ug'""’o straps, real russet |
cowhide, A grade, brand-new. $6.20; same,
used, $5.10; perf.ct condition. Army brl- ■
dies, double bit. double rein, new, $2.50, used,
SI.BO. New army saddle blankets, worn
lined. $1.25. Used aadi''" ags in perfect
condition, $2 "0. Will ship C. O. D., ex- I
press, allow examination, or can ship parcel
post. W. W. Williams, Quitman, Ga.
GENUINE MeClelan army saddles, brand-,
new, with fenders, $5,115: reclaimed sad
dles, $4,115; new army riding bridles, $2.45: ,
new wool army pants or coats, $1.1)8: new
army shoes. $2.71). Ship collect, allow in- ,
spectlon. Ask for bargain bulletin. Fried
lander Bros., Moultrie, Ga,
TOBACCO—Postpaid, guaranteed, best red
leaf, 5 pounds, $1.55: It), $2.80; smoklaja.J
10. $2. Mark Hamlin, Sharon, Tenn.
MAGICAL GOODS Novelties. b!dM«HP
Herbs, Cards, Dice. Books. Catalog Frlf
G. Smythe Co.. Newark. Mo.
QUIT tobacco or snuff habit easily, inex
pensively with pleasant Florida root. Mend
address. N. Stokes, Mohawk, Fla.
FA'PENTS '
INVENTORS Simula write lot out guide
book, “Dow to Get Your Patent.” Tells
terms and methods. Send sketch for our
opinion of patentable nature. Randolph A
Co.. Dept. CO. Washington. I>. <l.
MEDICAL
DROPSY TRtAIMENT
\ T give* quick relief. Dis
rtM I tressing symptoms rapidly
disappear. Swelling * n <
wii J short breath soon gone. Often
7 entire relief In 10 days. Never
MHkheard of anything Its equal
for dropsy. A trial treatment
sent by mall absolutely FREE.
DR. THOMAS E. GREEN
Box IS. CHATSWORTH. GA.
LEG~SORES
Healed by ANTI-FLAMMA— a soothing
antiseptic Poultice. Draws out poisons,
stops itching around notes and heals while
you work. Write today, describing case,
and get FREE SAMPLE. Bayles Dis
tributing Co.. 1820 Grand Ave.. Kansas
Citv. Me.