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HIGH FINANCIERS
GROW LESS HOLD
An Excavation Among the
Ruins of “Them Happy
Days” Is Interesting.
By B. C. FORBES.
NEW YORK, May 31.—1 n their exca
vations among the foundations of Ameri
ca’s biggest fortunes governmental in
vestigators have unearthed quite a few
interesting specimens of high finance’s
handiwork. Most of our $100,000,000 for
tunes have come from corporate deals
of one kind or another. The richest
"killings'’ were made when mergers were
all the rage, when our captains of in
dustry corralled scattered plants and by
methods known only to themselves —then,
at least—transformed them into huge
combinations. The financial feat's then
performed were enough to make the
fairies of fables hide their heads and
wands. Done in darkness, it is only
lately that details of these deeds are be
coming known.
• • •
This w’eek the diggers into the finan
cial achievement of a decade or more ago
discovered a transaction that surely is
unique in either American or European
industrial history. Without as much as
“by your leave,” an important company
was cooly brought under the wing of the
steel trust. There was no bargaining—no
bargain, in fact. The steel trust bankers
simply told its victim to consider itself
sold and bought. The smoothness, the
harmoniousness, the entire friendliness of
the little proceeding was most captivat
ing. The president of the company was
decapitated so painlessly that he did not
know an operation bad been performed.
• ♦ •
So bright a financial gem deserves a
better setting than it received from most
of the newspapers. Here is an account
of the proceedings as set down by a
trustworthy authority:
That .1. P. Morgan & Co., in bring
ing about the absorption of the Ameri
can Bridge Company by the United
States Steel Corporation, did not go
through the formality of getting the
stockholders’ consent, and even didn't
bother the president of the bridge
company with any negotiations, was
the burden of the testimony elicited
yesterday at the steel trust hearing
from Percival Roberts, Jr., one of the
defendants .in the government’s dis
solution suil.
The witness said that J. P. Morgan
& Co. Issued a circular to the share
holders of the American Bridge Com
pany, saying that they would ex
change stock of the steel corporation
for that of the bridge company.
“Do you mean to say,” asked Mr.
Dickinson, "that there were no nego
tiations preceding this proposal—no
discussions about the basis of the ex
change?” •
"Absolutely none,” answered Mr.
Roberts. “The bridge company took
no corporate action W’hatever in the
matter. I was its president at the
time, and heard of no negotiations.”
“Do you mean to say that the first
knowledge you had of the desire of
the steel corporation to exchange its
securities for yours was through that
• circular?”
“No. 1 had had an interview with
Robert Bacon, of J. P. Morgan & Co.,
and at that interview he told me that
the United States Steel Corporation
was proposing to exchange its stock
for that of the American Bridge Com
pany. Then be asked me if I would
become a director of the corporation.
I said 1 would. That was ail.”
* * »
Painless dentistry--what is it in com
parison with that?
* * •
Other disclosures since the insurance,
lid was raised have shown that certain
capitalists did things in a most high
handed fashion. If they could not find
away leading to their ends, they made
one, illegally, if need be. Simultaneously
with the uncovering of the bridge-swal
lowing feat, comes new proof of nefarious
operations by the founder of the sugar
trust, a concern now reformed. Certain,
railroad exploits also come to mind, ex
ploits that were perpetrated without pro
test at the time- protests in those days,
like injunctions against a notorious poli
tician, didn't “go.”
• • •
Now, these things are here recounted,
not in a muckraking spirit, but mainly
in order that a contrast may be drawn
between conditions then and now. Would
such doings be tolerated today? Would
financiers dare act so cavalierly? Would
heads of corporations dream of thus arbi
trarily treating stockholders? Consider
the procedure attending the steel trust's
assimilation of the American Bridge Com
pany and its absorption of the Tennessee
Coal and Iron Company. The former was
done as already described: the latter was
not attempted without the sanction of
the preside! t of the United States. Have
we not traveled a goodly distance since
capitalists played fast and loose with
companies they coveted?
Admittedly crimes are still committed
by men in hign places. Too many law
yers are still engaged to facilitate the
evasion of laws instead of to show how
to comply with them. Efforts are still
made to tamper with legislation. Fla
grant instances of unfairness toward
competitors and occasionally toward em
ployees are still coming to the surface
and no doubt will continue to come, for
human nature has not been transformed,
into lily whiteness. But is it not some
thing to reflect that at least some prog
ress has been made in making Big Busi
ness amenable to law, to decency and to
humanity?
ASKS DISMISSAL OF WARRANT.
T. B Lumpkin today asked for the
dismissal of the warrant against Louis
Weinberg in Justice .1. B. Ridley's court.
Lumpkin had accused Weinberg of mis
appropriating clothing delivered to him.
Lumpkin said that further investigation
show’s Weinberg without fault and free
from any criminality in the matter.
ESTABLISHED 1861
The Lowry National Bank
OF ATLANTA, GA.
CAPITAL - 5i,000,000
SURPLUS - 1,000.000
Designated Depository of the United States,
County of Fulton, City of Atlanta.
INTEREST PAID ON SAVINGS.
WOMEN TO HELP
BMPIIIKS
Cochran Plans for Visiting
Board, as Club Federation
Asks City Improvements.
The Atlanta City Federation of Wo
men's clubs presented to the council
today the set of resolutions it has pass
ed with the object of beautifying the
city by law, and of furnishing Atlanta
children recreation parks second to
none in the country.
The resolutions take the form of a
petition calling up the council to pass
many new ordinances in older to bring
about the Improvements without de
lay. Simultaneously President J. O.
Cochran will introduce a resolution at
the next meeting of the park board
creating a board of lady visitors to the
city parks and playgrounds. His plan
is to further the influence of Atlanta
women in the improvement of paiks
and playgrounds. The double action
means that hereafter the women will
almost surely become more prominent
factors in that part of the city govern
ment than in any other “unequal suf
frage” municipality in the country.
Call For New Playground.
In their resolutions sent to the coun
cil today the Federation of Women's
clubs asked that the council authorize
the park board to sod and otherwise
equip vacant lots throughout the city
for use as playgrounds by the chil
dren of the neighborhoods who are
now forced to romp in the streets.
The petition points out that the city
would gain much by this plan because,
unless the property owners allow the
use of these otherwise unsightly, unim
proved spots, council itself must soon
buy land for playgrounds for the lit
tle ones. When the owner becomes
ready to improve the property for his
own use, they add, the city can easily
remove the swings and other equip
ment to some other playground.
Want Crematory at Once.
The resolutions also urge council to
lose no time in the installation of a
crematory for the disposal of the city’s
garbage and call upon the body, fur
ther. to enforce the law’ against ex
pectoration in the streets.
Declaring that the beauty of the
city is greatly marred by the lack of a
restrictive building line, so that vis
itors criticise causticallj’ the un
sightliness of the streets the federa
tion asks the passage of an ordinance
regulating the building line throughout
Atlanta.
Want Sanitary Fountains.
To suppress the “mosquito nuisance”
the resolutions request council to have
oil poured upon every lake and pond
in the city and they call for an ordi
nance that will prohibit the hitching
of horses near shade trees.
Sanitary drinking fountains are urg
ed for the convenience of strangers at
the various railroad stations.
The resolutions, signed by Mrs. Fred
L. Seely, Mrs. William L. Percy and
Mis Janies Jackson, as the officials
of Hie federation, were transmitted not
only to council directly, but to the park
board and the chamber of commerce.
WAITERS’ STRIKE
HITS N. E. HARR
NEW YORK, May 31. —Hotel men
who expected to crush easily the wai
ters strike in this city admitted today
their employees had gained the upper
hand and appealed to the police for
protection of their hostelries.
The situation has become much more
serious during the last 24 hours and
the strike leaders, encouraged by their
success here, asserted that they would
make the walkout'country w ide. This,
it is declared, embodied a threat that
a strike would be called in Chicago
during the Republican convention and
in Baltimore while the Democrats are
meeting there. Hundreds of cooks hav“
struck in sympathy with the waiters
Over 2.000 employees are now out.
Hotel managers are making frenzied
efforts to get strike-breakers and 225
negroes already have been imported
from the South, coming from Hot
Springs, Va„ and Palm Beach Fla.
Bell boys and porters have been press
ed into service and all of the affect’ d
hotels are maintaining a dining room
service, though badly crippled.
The strike was in full swing today
at ten of the most luxurious hotels of
the city. The number of men out were:
Hotel Astor. 350: Plaza, 200; St. Regis,
150; Gotham, 150; Belmont, 125: Bres
lin. 75; Waldorf-Astoria. 350; Knick
erbocker. 225; Imperial, 225; Prince
George, 250. Walters and cooks were
out also at Rector’s, Louis Martip’s
and the Elks club.
Edward Rlochlinger. financial secre
tary of the International Hotel Work
ers union, today threatened to call out
all the waiters in the cheaper restau
rants as well.
“We are fighting the hotel men to
the last ditch and we are going to win
if we call out every waiter in the
country.”
THE ATLANTA GEORGIAN AND NEWS:
i NEWS AND GOSSIP,
Os the Fleecy Staple
(From Hayward & Clark.)
NEW YORK. May 31.—Carpenter, Bag
got & Co.: The market was very quiet
and absolutely featureless at the open- I
ing.
Dallas. Tex., wires: “Texas. San An- |
tonio and Panhandle cloudy; balance clear [
and pleasant. Oklahoma, generally clear (
and cool.”
The Journal of Commerce says condi- i
tions during the past month have been
unfavorable in Arkansas and Tennessee. ,
The season is very late, with considerable
replanting necessary. Excessive rains I
and cold weather very harmful. Stands '■
generally poor and soil poorly prepared. I
In Arkansas estimates of percentage con
dition run rather low, but the weather |
has been fine the past two weeks, and a I
number of sections report wonderful im
provement. In Tennessee recent favora
ble weather has greatly improved pros
pects, but many localities report low per
centage condition. The majority of acre
age reductions range from 5 to 10 per
cent.
NEW ORLEANS, May 31. —Hayw’ard & i
Clark: The weather map shows perfect
conditions. Cloudy In west Texas and
Oklahoma: partly cloud)’ to cloudy in
Texas; fair rest of belt. No excessive
temperature anywhere; no rain. Indica
tions are for cloudy, unsettled weather
in northwest Texas and Oklahoma; in
creasing cloudiness in east Texas and
central belt; fair in the Atlantic®.
“We have never seen the crop looking
better at this season of the year, and the
fields are clean. We had a nice rain last
night, which was brought on by tem
peratures of yesterday, but we want to
say that high temßhatures at this sea
son of the year is beffeficlal to the plant.”
Norden & Co. make condition 78, with
7 per cent decrease in acreage.
The New Orleans Times-Democrat:
New York was in holiday yesterday. 1
Liverpool will be closed today and tomor- ;
row. New Orleans will observe Confed- .
erate Decoration day Monday. Tuesday
the agricultural department will issue its
cotton crop condition report. Under the
circumstances, the volume of contract
trading has shrunk almost to an irreduci
ble level. Locally the May position showed
no strength. It was traded in at the
opening at a decline of 14 points under
Wednesday’s close, whereas July opened
unchanged. Liverpool reflected more con
fidence in the future of the market than
low price men on this side expected.
The weather continues good, and the
trade is more inclined than ever to look
for a relatively high condition figure on
Tuesday next. Nobody expects the gov
ernment bulletin to show as high a con
dition as last year or as low a condition
as appeared probable several weeks ago.
As yet,opinion has not crystallized, though
the figure 80 is heard mentioned most
often.
| THE WEATHER |
CONDITIONS.
WASHINGTON, May 31—The weather
will be fair tonight and Saturday over the 1
eastern portion of the country, except in
the northern and western upper lake re
gion. where showers are probable late to
night or on Saturday.
It will be warmer tonight in the Ohio
valley and .lower lake region and warmer
Saturday in the Interior of New England
and the middle Atlantic states.
GENERAL FORECAST.
Virginia—Fair tonight; Saturday fair;
warmer in the northern portion.
North Carolina. South Carolina and
Georgia—Fair tonight and Saturday.
Florida—Fair, except showers near the
east coast tonight or Saturday.
Alabama and Mississippi—Generally fair
tonight and Saturday.
DAILY WEATHER REPORT.
Atlanta, May 31.—Lowest temperature,
70; highest temperature, 80; mean tem
perature, 75; normal temperature. 73:
rainfall in past 24 hours; none; excess
since first of month, 1.28 inches; excess
since January 1, 9.27 inches.
REPORTS FROM VARIOUS STATIONS.
Stations— I Weath. ITemperature'R’fall
I .7 Max. I 24
| a. m. y’day. Ihours.
Augusta (Clear 74
Atlanta ...... Clear 70 80 ....
Atlantic City.lClear 60 74 ....
Anniston (Clear 68
Boston (Cloudy 54 56 .14
Buffalo (Clear 52 56 .01
Charleston ...(Cloudy 78 88 ....
Chicago (Clear 62 60 ....
Denver (Raining 44 86 .18
Des Moines...(Pt. cldy. 64 80 ....
Duluth (Cloudy 52 52 ....
Eastport Raining 50 48 .44
Galveston ....(Clear 80 84 .44
Helena ...... (Cloudy 48 60
Houston (Pt. cldy. 78 . • ■■■■
Huron (Cloudy 58 84 ....
Jacksonville .(Clear 78 86 .02
Kansas City.. (Pt. cldy. 66 80 ....
Knoxville ....Clear 66 78 ....
Louisville ....[Clear 64 (
Macon [Clear 74 ! ....
Memphis Clear 62 ! 76 ....
Meridian Clear 68 [
Mobile [Clear 76 90
Miami [Pt. cldy. 84 . 88 ....
Montgomery’ .(Clear 72 ( 90 ....
Moorhead ...Raining 56 80 .02
New Orleans. [Clear 80 ; 90 .. .
New York.... I’t. cldy. 54 ( 76 .06
North T’latte. Cloudy 56 i 88 ....
Oklahoma ...Cloudy . 62 86 ....
Palestine .... (Clear 1 70. | 86 ....
Pittsburg ....(Clear 54 1 66 ....
P’land., Oreg. Pt. cldy. 48 f 66 ....
San Francisco|Clear ( 58 1 74 ....
St. Louis (Clear I 62 j iO ....
St. Paul. (Clear gh 62 ■ <0 ....
S. Lake City.lClear ”1 34 56 ....
Savannah .... (Pt-cldy.' 78 . .. ....
Washington ..iClear 64 l_Bo , ■. —_
cTF. VON HERRMANN, Section Director.
ATLANTA LIVE STOCK MARKET.
(By W. H. White, Jr., of the White Pro
vision Company.)
Quotations based on actual purchases
during the current week:
Choice to good steers. 1,000 to 1.200, 5.75
<S'6 50 good steers, 800 to 1,000, 5.50@6.00;
medium to good steers, 700 to 850. 5.0040
5.50; good to choice beef cows, 800 to 900.
4 50405.00; medium to good beef cows. 700
to 800, 4.25@4.75; good to choice heifers.
750 to 850, 4.25@5.25; medium to good
heifers, 650 to 750, 4.00@4.75. .
The above represent ruling prices of
good quality of beef cattle. Inferior
grades and dairy types selling lower.
Mixed common steers, If fat. 700 to 800.
4 2504.75: mixed common cows, if fat, 600
to 800. 4.00® 4.25: mixed common bunches
to fair. 600 to 800, 2.75@3.50; good butch
er bulls. 3.2504.00
Prime hogs. 100 to 200 average. 7.250
775 c; good butcher hogs, 140 to 160. 7.25®
7.50; good butcher pigs, 100 to 140. 7.000
7.25: light pig*. 80 to_100 ; 6.0006.25; heavy
rough hogs. 200 to 250, 6. i5@7.25.
Above quotations apply to corn-fed
hogs. Mast and peanut fattened hogs, 1®
l%c and under.
NEW YORK PRODUCE MARKET.
NEW YORK. May 31.—Wheat steady;
July, $1.1501.15%; spot. No. 2 red. $1.23
in elevator; $1.23 f. o. b. Corn steady;
No. 2, in elevator, nominal; export No. 2,
83% f. o. b.; steamer, nominal; No. 4,
nominal. Oats quiet; natural white, 61%
062%; white clipped. 63 065%. Rye quiet;
No. 2, nominal, f o. b. New York. Bar
ley’ firm; malting. $1.1601.28 c. i. f. Buf
falo. Hay steady: good to prime. $1.25®
1.65; poor to fair. $1.25® 1.45. Flour quiet;
spring patents. $5 5006.00; straights. $5.00
(a 5.50; clears. $4.8505.10; winter patents,
8(5.90® 6.10; straights, $5.35® 5.60; clears.
$4.75 0 5.00.
Beef firm; family. $18.00018.50 Pork
I firm: mess. $20.25020.75; family, $20.25®
21.25. Lard easy; city steam, 10® 10%:
middle West spot, 10.80® 10.85. Tallow
steady; city, in hogsheads, 6 ibid); coun
try, in tierces, 5’4,06%.
NEW YORK GROCERIES.
NEW YORK. May 31. -Coffee quiet;
No. 7 Rio spot 14%®14'i. Rice firm;
domestic ordinary to prime 4%05%. Mo
lasses quiet; New Orleans open kettle 35
4145. Sugar, raw firm; centrifugal 3.985,
muscovado 3 485. molasses sugar 3.235.
refined active; standard granulated 5.25,
cut loaf 6, crushed 5.90, mold A 5.60.
‘■itbes 5.45, ptfwdered 5 30. diamond A 5.20.
Cheese easier; whole milk specials 14%
I bld. whole milk fancy 14 hid, skims spe-
I rials 11®I1%, line 9%® 10%. full
• skirns 7® 7%.
LIGHT TRUDE IN
COTTON MARKET
Prices Rule Lower on Reports
of Good Weather and Crop
Condition.
I
NEW YORK. May 31—Cotton had a
narrow opening today, although the un
dertone of the market was steady. First
prices were 1 to 3 points higher. Clear
weather was reported over the Southern
belt. The Liverpool market was closed.
Trade was small with little feature to
the market. A small decline was noted
I at 2 o'clock in some positions, some were
I unchanged and March was 34 points above
the previous close.
The visible suply of American cotton
decreased during the week 139.215 bales,
against a decrease of 124,362 last year ano
a decrease of 125,955 the year before.
Other kinds decreased this week 25.000,
against a decrease of 8,000 last year and a
decrease of 12,000 the year before. The
total visible supply decreased 164.215.
against a decrease last year of 132,362
last year and a decrease of 137.955 the
year before.
At the close the market was quiet at
declines of 2 to 8 points from Thursday’s
final quotations.
_World's visible supply:
I American 13,025,774 1,810,217 1,839.453
; Other kinds 1,143,000 1,175.000 1,154.000
. Total all kinds.. 4,168,774 2,985,217'2,993,453
World's spinners’ takings:
( 1912. [ 1911. 1910.
For the week' 195?000( 177’000 207?000
Since Sept, 1,(12.821.000110,481,000: 9,571,000
Over Movement into sight:
' 1912. | 1911. I 1910.
Ovland, week! 12,833 3,700' 1,991
Since Sept. I,! 939,932 899,243! 753,199
Into s’gt. wk. 56.088’ 52,495 81.483
Into s’gt. mo. 333,117! 277.245 343,791
So, cons’mp..! 27,000! 27,000! 30,000
RANGE IN NEW YORK rUTURES
2 “ j 3-5 j £0
O XUaJCC U £ C
May 111.07 11.07110.95'11.98' ;omlna~U.o2-04
June 10.86 10.86 10.86 10.86(10.86-90 10 94-96
July t1.05i11.08 10.98,11 00'11.00-01 11'04-05
Aug. 11.11(11.11 11.04(11.07 11.05-07 11.09-10
Sept. 11.13 11.13 11.10(11.13) 11.10-12 11.12-13
Oct. 11.21:11.24 11.15 11.16(11.16-17 11.19-20
Nov 111.19-21 11.23-25
Dec. 11 32 11.33 11.24 11.2541.25-26 11.29-30
Jan. 11.27(11.29 11.20 11.22 11.21-28 11.25-26
Feb | 11.25-27111.29-30
Meh. 11.37(11.39111.31 11.31 [11.31-33(11.35-36
Closed quiet.
I HAYWARD & CLARK’S
DAILY COTTON LETTER
NEW ORLEANS, May 31.-The Journal
of Commerce gives an unfavorable report
on Arkansas and Tennessee. The word
ing of the report clearly shows the pes
simism which existed during the wet
spell. The reports wind up by saying
that there has been a great Improve
ment during the recent good weather.
Liverpool Is closed today and tomor
row.
The weather map continues to show
perfect conditions. No excessive temper
atures anywhere. Cloudy in west Texas
and Oklahoma; partly cloudy in east Tex
as; fair in the rest of the belt. No rain.
Prospects are for cloudy and cooler
weather, probably’ unsettled, with show
ers in the northwestern quarter, increas
ing cloudiness in east Texas and central
states, and fair In the Atlantics.
Norden & Co. make condition 78, with
a decrease in acreage of 7 per cent.
Our market opened about unchanged,
and held well aijound these prices, with
trading small. Anticipation of a low bu
reau condition publication on Tuesday
next is the cause of the steadiness in
face of the good weather and still better
prospects.
The unfavorable reports of The Journal
of Commerce show that the first condi
tion reports were made during a period
of general pessimism, and the trade
looks for a bureau around 75. some fear
ing that it may be as low as around 70.
We compare with 87.8 last year, 79.7 in
1908 and a ten-year average of 81.5.
RAN GE IN NEW ORLEANS FUTURES.
i M O t ?
c 2 2 6 £5
May~iri.59111.591iT.59-11.591 nom fiTaiilL6o
June i ) (11.58-60 11.61
July 11.65'11.66 11.58111.61 11.60-61(11.63-65
Aug. | 111.49-50(11.52-53
Sept !..... 1.....111.35-37111.42
Oct. 11.37(11.37 11.29 11.3141.30-31 11.35-36
Nov. ! | !11.31-33 11.36-38
Dec. 41.38(11.38 11.30111.32111.32-34(11.37-38
Jan. 11.36 11.38(11.36(11.38) 11.36-37(11.42-43
Feb. I I i i (11.38-40 11.42-44
Meh. | [....,1 ! [11.44-49111.46-48
Closed steady.
SPOT COTTON MARKET.
Atlanta, steady; middling 11%.
New York, quiet; middling 11.50.
New Orleans, steady; middling 11 9-16.
Liverpool; holiday.
Savannah, steady; middling 11%.
Augusta, quiet; middling 12c.
Mobile, steady; middling 11%.
Galveston, quiet; middling 11 9-16.
Norfolk; holiday’.
Wilmington, nominal; midling 11%.
Little Rock, quiet; middling 11%.
Charleston, nominal; middling 11%.
Louisville, firm; middling 11%.
Philadelphia, quiet; middling 11.50.
Boston, quiet; middling lie.
Baltimore, nominal; middling 11%.
Memphis, steady: middling 12c
St. Louis, quiet; middling 11%.
Houston, steady; middling 11%.
INTERIOR MOVEMENT.
I 1912. | ~l9ii.
Houston 303 | iOS?
Augusta. ...... 225 I 76
Memphis 908 ! 263
St. Louis 497 i 285
Cincinnati 631 ( 46
Little Rock .... | 77
Total 2,564 ( 856
COTTON MARKET OPINIONS.
Hayden. Stone & Co.: The short looks
to have the best of it.
.J. S. Baehe & Co.: Advise the purchase
of the distant positions on account of the
usual crop scares to follow
Ixigan & Bryan: Market is a small
trading affair.
COTTON SEED OIL.
NEW YORK, May 31.—Carpenter, Bag
got <S- Co.: The market opened weaker
on lack of demand from refiners, who are
well supplied, and bearish crop and
weather news from the belt.
Cotton seed ofl quotations:
I Opening. 1 Closing
Spot I 6.70&6.90
June ! 6.71®6.85 ( 6.72®6.78
July ! 6.83® 6.84 ( 6.82® 6.84
August 6.94® 6.98 6.92® 6.94
September .... 6.98®7.00 6.99®7.00
October 6.94®6.95 6.94®6.96
November .... 6.50®6.54 6.52®6.65
December ... 6.44®6.45 6 41®6.44
Closed weak; sales 21,900 barrels.
NEW YORK COFFEE MARKET.
Coffee quotations:
Opening^J_ Closing~
January 43 56® 13.60[ 13.54® 13.56
February 13.50® 13.60 13.62&13.53
March 'l3 57®. 13.59 13 56® 18 57
April 4 3.58® 13.60.13.56® 13.57
Mav !13.58@13.60( .. . .
Junel 13-25 13.27® 13 28
July 13.30® 13.50 13 31® 13 32
August 13.40® 13.50 13.40.® 13 41
September 13.54 13.49® 13.60
October 13.54® 13.60 13.52® 13.54
November 13.55® 13.60 13 52® 13.54
December. , .13.55 13 62® 13.54
Closed steady. Sales, 27,000 bags.
IKIDAY, MAY 31. 1912.
STDGKSBiII |
AFTER ADVANCE
Weakness of Rock Island Has
Disturbing Influence on the
Entire List.
By CHARLES W. STORM.
NEW YORK. May 31.--Accumulated
orders over Thursday's holiday resulted
in a display of strength at the opening
of the stock market today. Many stocks
sold ex-dividend because of the closing
of the books tomorrow One of the
strongest <vf these was Union Pacific,
which sold ex-quarterly’ dividend of 2%
per cent. This Issue opened at 169% for
a net gain of %. Canadian Pacific was
also strong on London and New York
buying This stock also sold ex-dividend,
the dividend amounting to 2%. Canadian
Pacific opened at 267%, against last
night’s close of 267%. With the dividend
figured in the opening gain amounted
to 2%.
The hard coal stocks reflected aggress
ive buying. Lehigh Valley advancing 1%
to 175%, while Reading moved up % to
17t%. A number of other stocks made
substantial fractional gains. After fif
teen minutes of trading, however, a sell
ing movement developed, which carried
off some of the advances
United States Steel common sold ex
dividend. the amount of dividend being
1%. This stock opened at 69%. against
Wednesday's closing of 69%. Other gains
were: Amalgamated Copper %, Smelting
1%, Erie %.
The curb was steady.
Americans in London were subject to a
waiting and colorless market. Canadian
Pacific in London made a good showing,
but at the close shaded beneath the best
price range.
Pronounced weakness was shown in a
number of the important issues in the
late forenoon. The weakness in Rock Is
land issues had a disturbing effect all
through the list. The common declined %
and the preferred dropped more than 2
points. Heavy selling in American Can
resulted in a decline of 2%. Lehigh Val
ley was weak, declining 2%.
Midday dullness was followed in the
late afternoon by a selling movement on
which a number of railroad and indus
trial stocks lost a point or more. Some
stocks sold at the lowest range they had
reached In several months. American Can
common continued extremely weak, sell
ing down to 34%, but recovered part of
the loss on moderate buying Reading.
Union Pacific and United States Steel
common yielded around a point.
Stock quotations: _
[Last 1 Clis |Pre»
STOCKS- High Low ISale I Bid . ICl’ss
Amal. Copper. 83 *’ 81%i 81%| 81%( 82%
Am. Ice Sec.. 27% 26%l 26% 24%! 27%
Am. Sug Ref. 128 127 127 !125%430
Am. Smelting 84% 81% 81%’ 81% 85
Am. Locomo... 41% 41%' 41%! 41 41%
Am. Car Fdy.. 68% 58 58 ! 57%l 58%
Am. Cot. Oil . 53% 53%| 53%| 53%l 54
Am. Woolen .... 28 j 27%
Anaconda .... 42% 42 42 '42 I 42%
Atchison 106 105%405%|105% 105%
A. C. L 139% 139%:139%>138% 139
Am. Can 38%| 35%' 35%l 34% 38%
do, pref. ..116%|116 |ll6 (115% 116%
Am. Beet Sug. 71%( 68% 68% 68%' 71%
Am. T. and T. 145% 145% 145% 145%|145%
Am. Agricul. .( ....( .... ....I 60%i 61
Beth. Steel ..( 36 (36 '36 (36 ( 37%
B. and D 408% 108%'108%' 107% 408
Can. Pacific ..1268%|264%(264% 265%'267%
Corn Products ! 16 15%i 15%( 15 j 15%
Ce and O !79 77% 77% 76% 78%
Consol. Gas .. 141% 139% 140% 139%[141%
Cen. leather I 25 24% ! 24%! 24%| 27
Colo. F. and I.( 27% 27%l 27%l 27% 37%
Colo. South...! ....( ....I ...J 38 I 40%
D. and H I ] ... . |166%1168
Den. and R. G.l ! ....( 18%; 19%
Distil. Secur. .1 32 3t%| 31% 31 I 32%
Erie 34% 34%: 34% 34%! 34%
do, pref. .. 52% 51% 51% 50% 1 62%
Gen. Electric . 169 168 1168 1167 (170%
Goldfield Cons. 4% 4%l 4%( 4%( 4%
G. Western . 17% 17%! 17% 17 I 17%
G. North., pfd.i133%i132%(132%J132%'132
G. North. Ore. ) 42 [42 (42 I 41%: 42%
Int. Harvester | ....I . ...j .... 117%!119%
111. Central .. . 425% 125% 125%.125% 126%
Interboro 20A»' 19%l 19%l 1 9 20%
do, pref. ..I 59% 57% 57% 56 58%
lowa Central ! ' ... | 12 12
K. C. South. . ....I 23% 23%
K. and T 127 26%! 26%l 26 26%
do, pref. .. I ! . ...! 58 59
1,. Valley. . '176% 172 172 (170% 174%
L. and N.. . .(157% 156%1156%'156 157
Mo. Pacific ..! 37 36’41 35%l 35% 36%
N. Y. Central'llß% H7%1117%[117>i 118 g
Northwest. . . 138% 138 (138%‘ 137%i 138
Nat. Lead. . . 57%| 57%l 57% 57%! 57%
N. and W.. . .(110% 110%|110%(110 [ll2
No. Pacific . .'120%1l 18%'118%'118% 420
O. and W.. . . ( .... ....( ....' 36% i 37
Penn [123%|123%1123%1123%1128%
Pacific Mail .( ....! ....! ...J 32%) 33%
P. Gas Go.. . .1114 1112% 112%112 1113%
P. Steel Car. .' ..... ... .1 ... .1 33% 34®
Reading. . . . 1171 %U 65 1166% 165% 170%
Rock Island. .1 25 ( 22%l 23 23%( 24%
do. pfd.. . J 51% 49 . 49% 49 j 51%
R. I. and Steel' 23%' 22 ! 22 I 21%' 23
do. pfd.. . .I ....I ....( ....• 76%' 78
S. -Sheffield. .(....I ....(....' 48 | 49
So. Pacific . .!109%1108%[108%. 108% 111%
So. Railway. .1 28% 27% 27%| 27%l 28%
do. pfd.. . .! 74%l 74% 74%l 73%| 74
St. Paul . . .1105% 104% 104%'104 105%
Tenn. Copper .1 45%! 41% 41%! 41-%' 44%
Texas Pacific I .... I 22%| 23
Third Avenue !38 1 38 38 I .37 ' 38%
Union Pacific 169%466% 166%(166%!171 %
U. S. Rubber . 63%' 62% 62% 62 | 63%
Utah Copepr . 62%| 61%( 62 61 % I 62%
U. S. Steel. J 69%l 66%l 6«%! 66%( 69%
do. pfd . . .410% UO% 110% 110 410%
V. Chem. J .... ...I ....I 50% i 51%
West. Union . 82%: »2%! 82% 82 I 82%
Wabash. . . . I 7 % 7 % 7%' 7% I 7 %
do. pfd.. . .' 18’41 18 18’4' 1 -7%l 18%
West. Electric I I 71 ! 72%
Wis. Central .! .... .... ....( 51% I 51%
W. Maryland. 58%! 58%1 58%1 58 58%
~Total sales. 6i4,900 shares.
Following stocks are quoted ex-divi
dend today: American Sugar. 1% per
cent: American Smelting, 1 per cent.
Canadian Pacific, 2% per cent; General
Electric, 2 per cent; Southern Pacific, 1%
per cent; Union Pacific, 2% per cent.
United States Steel. 1% per cent; Norfolk
and Western. 1% per cent.
MINING STOCKS.
BOSTON. May 31 Opening: Smelters
preferred. 48%; Calumet and Arizona.
75%; Copper Range, 58%; Shannon, 15;
Lake Copper. 39.
local STOCKS and bonds.
Bld. Ask»-a
Atlanta * West Point R R... 14» 145
American National Rank . *•« »ti
Atlantic Coal & Ice common. 101 102
Atlantic Coal * Ice pref..... 93 91
Atlanta Brewing & Ice C 0... 175
Atlanta National Bank .. 325
Central Bank * Trust Corp 150
Exposition Cotton Mills !8» jfjr,
Fourth National Bank 245 250
Fulton National Bank ’25 130
Ga Ry- * Elec, stamped.... 124 126
Ga Ry * Pow Co., common 28 si
do. Ist pfd 80 85
do. 2d pfd 42 44
Hillver Trust Company 125
Lowry National Bank 248 250
Realty Trust Company 108 110
Sixth Ward Bank 99% joj
Southern Ice common 71 72%
Third National Bank, new.. 205 210
Trust Co. of Ge0rgia......... 225 235
Travelers Bank * Trust Co.. Izs 125
lra BONDS.
Atlanta Gas Light Ist 55.... 101% 105
Georgia State 4%5. 1?15 .... 101 101
Georgia Midland Ist 3s g>
Ga Ry. & Elec. Co 5s 101
Ga. Ry. * Elec, ref 5s 99 99%
Atlanta Consolidated 5s 102% ...
Atlanta City 3%5, 1931 91 92%
Atlanta City 4%5. 1921 102 • 103
Southern Beil 5s 9t»«•%
Why not begin today and take ad
vantage of the numberless opportuni
ties that daily appear In the Want Ad
columns of The Georgian? Bargains
gaiore are there, that mean a big sav
ing to you. Answer quickly any ads
you may see that offer you things at
bargain prices. Remember that all At
lanta is watching these pages, and the
first one to answer gets the goods.
ATLANTA MARKETS
EGGS—Fresh country candled. 17® 18c.
BUTTER—Jersey and creamery, tn Ilk.
blocks, 20%@35c; fresh country dull, 10
®l2%c per pound.
DRESSED POULTRY—Drawn, bead anfl
feet on, per pound. Hens. 16®17c; fries,
25®27c. Roosters, B®loc. Turkey*, ow- '
ing to fatness. IS®2oc.
LIVE POULTRY—Hens. 40®45c; roost
ers. 25®>35c; fries, 30®50c: broilers. 25®
30c; puddle ducks, 35®40c; Pekin ducks,
40®45c; gaese, 50®60c each; turkeys, ow
ing to fatness. 17®18c.
FRUITS AND PRODUCE.
FRUIT AND VEGETABLES—Lemons
fancy, $4.00® 4.50 per box. Florida
eranges. $3.00® 3.50 per Pox. Bananas,
3®3% per pound. Grape fruit. $5.00®
6.00 per crate. Cabbage, l%@2c per pound.
Florida cabbage, s2® 2.50 per crate. Pea
nuts, per pound, fanev Virginia. 6%®lc;
choice. 5%®6c. Beans. round green
»1.75® 2.00 per crate. Florida celery,
$2.00® 2.50 per crate. Squash, yellow, per
six-basket crates. $1.50®2.00 Lettuce,
fancy, $1.25®1 50: choice. $1.25@1.50 pet
crate. Beets. $3.00®3.50 per barrel. Cu
cumbers. 75®$I 00' per crate. English
peas, per drum, $1 00®1.25. New Irish po
tatoes. per barrel. $4.50@5.00 per barrel.
Strawberries, s@6c per quart.
Egg plants, $2 50®3 00 per crate. Pep
iter, $1.75®2.00 per crate. Tomatoes,
fancy. six-basket crates, $2.50®3.00;
choice tomatoes, $1.75®2.00. Pineapples,
$2.50®3.00 per crate. Onions, $2.00@2.56
■ per bushel. Sweet potatoes, p. yam, $1.50
@1.75 per bushel Cranberries. slloo®
12.0 j) per barrel: &0c per gallon.
PROVISION MARKET.
(Corrected by White Provision Ce.)
Cornfield hams, 10 to 12 lbs. average.
16 %c.
Co-nfield hams. 12 to 14 lbs. average
16%c.
Cornfield skinned hams, 16 to II lb»„
17%c.
Cornfield picnic hams. 6 ti » lbs. aver- I
12%c.
Cornfield breakfast bacon. 23c.
Grocer style bacon (wide or narrow).
17%c.
Cornfield fresh pork sausage (link or
bulk), 25-lb. buckets, 12c.
Cornfield frankfurters, 10-lb. buckets,
age. 10c
Cornfield bologna sausage, 25-th. boxes,
9c.
Cornfield luncheon hams. 25-lb. boxes.
11c.
Cornfield spiced jellied meats in 10-lb.
dinner nails, 10c.
Cornfield smoked link sausage. 25-lb.
boxes. 9c.
Cornfield smoked link sausage In pickle,
60-Ib. cans, $4.25.
Cornfield frankfurters In pickle. 16-lb.
kits. sl.ao
Cornfield pickled nigs feet. 15-lb. kits,
SI.OO,
Cornfield pure lard (tierce basis), 12%c.
Country style cure lard. 50-lb. tins only,
12c.
Compound lard (tierce basis), 10c.
D. S. extra ribs, ll%c.
D. S. rib bellies. medium average.
12%c.
D. S. rib bellies, light average, 12%c.
FLOUR AND GRAIN.
FLOUR Postell's Elegant, $7.50; Gloria
(self-rising), $6.50: Victory (finest pat
ent), $6.50; Faultless, finest, $6.25; Swans
down (highest patent), $6.25; Home
Queen (highest patent), $6.00; Puritan
'highest patent). $6.00: Sun Rise (half
natentl. $5 50; Tulip flour. $4.50: White
‘.'loud (highest patent), $5.75: Diadem
(highest patent), $5.50. Farm Bell, $5.40;
Paragon (highest patent). $6.00; White
Lily (highest patent), $5.75; White Daisy,
$5.75; Southern Star, $5.50, Sun Beam,
$5.50; Ocean Spray (patent), $5 50.
CORN—Tennessee—White. red cob,
$1.08; No. 2, white, $1.07; cracked, $1.05;
yellow, $1.05; mixed, $1.05.
MEAL—Plain 144-ib. sacks. $1.01; 96-lb.
144-lb. sacks, $1.01; 96-lb. sacks, $1.02;
sacks, $1.02; 48-lb. sacks, $1.04; 24-lb.
sacks. $1.06.
OATS—Fancy white clipped, 74c; fancy
white, 71c; mixed. 72c.
COTTON SEED MEAL—Harper, $29.
COTTON SEED HULLS -Squars Back a
19,50 per ton.
SEEDS (Sacked) —German millet
I $1.65; cane seed, amber, $1.65; cane seed,
| orange, $1 40: Wheat (Tennessee), bins
stem, $1.40; rye (Georgia) $1 35; y.ppler
1 oats, Ssc; red rust proof oats, 72c; Burt
1 oats, 75c; Texas rust proof oats, 70c; wln
( ter grazing, 70c; Oklahoma rust proof,
60c: blue seed oats. 50c.
HAY-Per hundredweight: Timothy,
choice alrge bales, $1.90; Timothy, choice
third bales, $1.60; Timothy No. I, small
bales. $1.85; alfalfa hay, choice, $1.65;
Tfmothv No. 2. $1.50: Timothy clover
mixed. $1 45; clover hay, $1.50; alfalfa
hay, choice, $1 50; alfalfa No. 1, $1.70;
alfalfa No 2, $1.25; peavine hay, $1 20;
shucks, 70c: wheat straw, 80c; Bermuda
hay, SI.OO.
GROCERIES.
SUGAR—Per pound, sianoard granu
lated, &%c; New York refined, 6%c; plan
tation. 6c.
COFFEE —Roasted (Arbuckle's), $24.25;
AAAA, $14.50 In bulk; In bags and bar
rels, $2.10; green. 19c.
RICE —Head, 4%@6%c; fancy head, 6%
@6%c. according to grade.
LARD—Silver leaf, 12%c per pound
Soco, 9%c per pound; Flake White, 9%c
per pound; Cottolene, $7.75 per case;
Snowdrift, $6.25 per case.
CHEESE— Fancy full cream. 22c.
SARDINES—Mustard, $3 per case; one
quarter oil, $3.
MISCELLANEOUS— Georgia cane syrup
38c; axle grease, $1.75; soda crackers, 7%c;
per pound; lemon crackers, fc; oyster. 7c;
tomatoes (2 pounds), $2 case: 3 pounds,
$2.75; navy beans. $3.10; Lima beans. 7%c;
Shredded biscuit. $3.60; rolled oats, $4 per
case, grits (bags). $2.20; pink salmon.
$5.10 per case; pepper, 25c per pound; R.
E. Lee salmon, $7.50; cocoa, 38c; roast
beef, s3.so; syrup, 30c per gallon. Sterling
ball potash, $3 30 per case: soap. $1.5004
per case, Rumford baking powder, $2 SO
per case.
HALT— One hundred pounds, 49c; salt
brick (plain), per case. $2 26: salt brick
medicated), per case, $4.85; salt, red rock,
per cwt.. $1.00: salt white rock. 90c; 50-
pound sacks, ?29c; 25-lb. sacks, 18c.
FISH.
FlSH—Bream and perch, 6c per pound;
snapper, 9c per pound; trout, 10c per
pound; bluefish, 7c per pound; pompano,
20c per pound; mackerel, 16c per
pound: mixed fish. 6c per pound; black
bass. 10c per pound; mullet, $ll.OO per
barrel.
feedstuff.
SHORTS —Hallloay white, 100-tb. sack*
$1.90; fancy, 75-lb. sacks, s'.Bs: P. W.
75-lb. sacks, $1.80: Brown, 100-lb. sacks.
$1.75; Georgia feed, 75-lb. sacks, $1.75;
bran. 75-lb. sacks. $1.70; 100-lb sacks,
$1.65; Homcoline, $1.75; Germ meal Hom
ed, $1.75: sugar beet pulp, 100-lb. sacks,
$1.55; 75-lb. sacks, $1.55.
CHICKEN FEED Beef scraps. 50-
pound sacks, $3.50: 100-poimd sacks,
$3.25; Purina scratch. dozen pound
packages. $2.20; Purina pigeon feed,
$2.35; Purina baby chick, $2.30: Pu
rina chowder, dozen pound packages,
$2.30; Purina Chowder, 100-pound sacks,
$2.15; Purina scratch, 50-lb. sacks, $2.25;
Purina scratch, 100-lb. sacks, $2.16; Suc
cess baby chick. $2.10; Eggs. $2.20; Vic
tory baby chick, $2.30. Victory scratch,
50-lb. sacks. $2.25; Victory scratch, 100-
lb sacks. $2 15: Chicken Success baby
chick. $2 10; wheat. 2-bushel bags, per
bushel. $1.40; Rooster chicken feed, 50-lb.
sacks. $1: oystershell. 80e.
GROUND FEED—Purina feed, 175-io.
sacks. $2 00; Purina molasses feed. $1.95;
Monogram, 100-lb. sacks, $1.70; Victory
horse fee<l. 100-lb. sacks, $1.90: Milko
No. 1. mixed, $1.80; No. 2, $1.75; alfalfa
alfalfa meal. $1.50.
HARDWARE.
PLOWSTOCKS—HaIman, 95c; Fergu
>on. $1.05.
AXLES—S 4 7507 per dozen, bass.
SHOT —s2 25 per sack.
SHOES—Horse. $4.50@4.75 per keg
LEAD -Bar, 7%c per pound.
NAILS-WL-e. $2.65, base.
IRON—Per pound. 3c base: Swede »%«.
BUTTER, POULTRY AND EGGS.
NEW YORK. May 31. Dressed poultry
quiet; turkeys 13® 22. chickens 17® 28,
fowls 11 %® 15%, ducks 12®22. geese 14®
16. Live poultry steady: fowls 15%®16,
turkeys 13 asked, roosters 10% asked,
ducks 12 asked, geese 9 asked.
Butter steady: creamery specials 26%0
27, creamery extras 260 26%, state dairy
(tubs) e3®26%, process specials 26 bid.
Eggs steady; nearby white fancy 23 bid,
nearby brown fancy. 20%®21, extra firsts
220 22%, firsts 17%®19%.
NAVAL STORES.
SAVANNAH, May 31. Turpentine firm
at 44%®44%. receipts, 989.
Rosin firm, receipts 2.536; water white.
$7 75; window glass, $7.60; N, $7.50: M.
$7 40. K. $7.40. 1, $7.350 7,40; H. $7 30®
7 82%; G, $7 3007.60; F. $7 27%®7.40; E,
$7; D, $7.65; C. B, A, $6.1006.30.
SHORTS IN MAY
GORNGETWILO
Make Exciting Rush to Cover,
Even After Bell Taps—The
Wheat Market Is Tame.
*
ST, LOUIS CASH QUOTATIONS. 1 ~
Wheat-No. 2 red 119 @120%
Corn 79%® 80
Oats 33
CHICAGO, May 31. —Wheat showed
some strength at the opening and was
about %c higher, which drew out liberal
offerings, and a decline of % to l%c was
soon in evidence. Threatening rains iii
sections of Kansas, where most needed, a
collapse of the May deal in Liverpool and
increased offerings tn all the markets ..
were the leading influences.
Corn was %c lower to unchanged.
Oats unchanged to %c lower.
There was little excitement in any of ’
the pits during the morning and the like
lihoiKi is that there will be an absence of v
fireworks in any of the May grain fu
tures.
Provisions were slow and a shade
easier, although hogs were 5c higher at =
the yards.
While May wheat closed tame and
showed a loss of 2%c for the day, there
was wild excitement in the May corn
market, yet it sold between 78%c and
80%c, and closed %c lower at 80c. There ~
was a big trade In the May corn with
shorts rushing around to cover even after
the tap of the bell. July wheat closed
nearly %c lower at sl.lO to $1.10%. and
September was off about %c to $1.06.
May oats weer off 2%c and July lost ...
%c and September was %c lower.
Provisions closed irregular. J;
CHICAGO GRAIN MARKET.
Ps-«v. ~
Open. High. Lew Close. Clom.
WHEAT—
May 1.12% 1.13% 1.10% 1.10% 1.13
•Fly 1.11% 1.11% 1.09% 1.10 1.10% .
Spt. 1.06% 1.06% 1.05% 1.06 1.06%
Dec. 1.06% 1.06% 1.06 1.06% 1.06% .
=CORN—
Mav 88% 80% 78% 80 80%
July 75 75% 74% 74% 75% ■
Sept. 72% 73 72% 72% 72% -
Dec. 63 63'i 62% 62% 68
OATS
Mav 53 53% 50% 50% 58
July 49% 49% 49 49% 50
Sept. 42 42V, 41% 41% 42
Dec. 42% 43% 42% 42% 43
PORK —
My 18.20 18.20 18.20 18.20 18.40
Jly 18 40 12.45 18.37% 18.40 18.50
Spt 18.45 18.50 18.40 18.45 18.50
LARD— ~
Mv 10.82% 10.82% 10.77% 10.77% 10.52% I
Jly 10.65 10.65 10.65 10.65 10.62% j
Spt 10.77% 10.85 10.75 10.85 10.80 .
RIBS—
My 10.12% 10.12% 10.12% 10.«% 10.10
Jlv 10.27% 10.27',2 10.25 10.27% 10.22%
Spt 10.42% 10.42% 10.40 10.42% 10.37%
CHICAGO CAR LOTS.
Following are receipts for Friday and
estimated receipts for Saturday:
I Friday. Saturday. •
Wheat J 10 20
Corn 252 445
Oats I 102 164
Hogs I 16,000 11.000 ,
ARGENTINE SHIPMENTS.
This Last Last
Week. Week. Year.
Wheat . . . .3,296,000 3,792.000 3,752.000
Corn 3,758,000 4,063,000
LIVERPOOL GRAIN MARKET.
Wheat opened l%d lower to %d higher;
at 1:30 p. m was l%d lower to %d high
er; closed unchanged to %d higher. Corn
opened % to %d higher; at 1:30 p. m. was
%d higher; closed 6, to %d higher.
LIVE STOCK MARKET.
CHICAGO, May 31—Hogs—Receipts,
16.000. Market strong to 5c higher;
mixed and butchers, $7.05@7.55; good
heavv, $7.4007.55; rough heavy, $7.05@
7.35; light. $7.00@7.45; pigs, $5.00@6.75;
bulk. $7.35@7.45.
Cattle Receipts, 1.000. Market steady;
beeves, $6.000 9.30; cows and heifers. $2.50
@8.00; Stockers and feeders, $8.00@8.90;
Texans, $6.5008.25; calves. $7.5009.50.
Sheep -Receipts. 7,000. Market steady; :.
native and Western. $5.0006 60; lambs,
$6.1009.00. /
METAL MARKET.
NEW YORK. May 31— The market was
quiet today.
Quotations: Copper, spot, 16.25 016.62%; -
June. 16 25016.62%; July and August,
16 25016.62%. September. 16%®16%; lead.
4 20@4.25; spelter, 6.9007.00; tin, 44.00@
44.75. t-
R. R. COMMISSION TO
DECIDE IF IT CAN ACT ?
ON CREDITOR’S CLAIM
The state railroad commission has . ,
been called upon to decide whether or '
not it has power to act as judge be
tween creditor and debtor, when both
creditor and debtor are corporations - j
bonded under the commission's ap
proval.
The case, the first of its kind ever ap
pealed to the commission, was brought
by the American Bank Note Company
and involves an old prtining debt of
$7,000 said to have been contracted by
tiie old North Georgia Electric Com
pany, lately absorbed by the Georgia
Power Company and later by the Geor
gia Railway and Power Company.
When the Blue Ridge Electric Com
pany took over the North Georgia Elec
tric Company the debt was assumed
and later when bonds were approved _,
by the railroad commission it was spe
cifically stated that $7,000 in bonds
were to be used to liquidate the debt.
This arrangement followed down*
through the various mergers.
The American Bank Note Company
maintained that the debt has not beer _.
paid and has called upon the commis
sion to enforce its payment on tht
ground that the commission approved
certain bonds for that specific purpose
MOB SEEKS FARMER;
DROVE INTO BAND IN
MEMORIAL PARADE
MASSILLON. OHIO, May 31.—Because
of lynch threats, William Miller, a farmer,
was heavily guarded when taken into
court today to face the charge of driving
his horse among the members of a brass
band at Navarre, five miles from here,
yesterday as they were marching to head
the Memorial day parade, injuring sig,,
men. one will likely die. A mob threat
ened to lynch Miller when he was placed
in jail. Miller was held for the grand
jury on a charge of assault,
MARIST RIFLES TO ENTERTAIN.
The Marist Riflles. Company G. Na
( tlonal Guard of Georgia, will give a tnin
| strel and military entertainment tonight
lat Marist College hall, for the benefit
lof the company fund.
I
19