Newspaper Page Text
24
FACT fiNO GOSSIP
IN MONEY MARTS
How One Big Wall Street
Firm Has Built Up Its
Business.
By B. C. FORBES.
NEW YORK. .Tiiiy 27 “How can a
young man get on?”
An ambitious youth put this question
yesterday to a notably successful banker
broker. head nf an establishment known
throughout this country and not unknown
abroad. The business has been built up
chiefly by half a century of zealous ef
fort by fts founder, although he attributes
not a little of his success to the “boys”
he has brought up In his office. He
never engages an outsider for any im
portant position Every clerk, every
member of the firm It is a very large
organization -began at the bottom of the
ladder with the house, and promotions
have been made strictly on merit. That
this sxstem has proved effective is
shown b\ the results achieved. “When
you get a box and bring him up your
self you are sure of his loyalty; there
are no leaks about your affairs, no im
parting of (onfiden’ial information to ri
vals.” this same veteran once remarked
tn me
* • •
Rut let us hasten to give the gist of
the prescription for “getting on.” Though
it was applied only to his own special
line of business, the prescription, you will
agree, would, with modifications, suit
other fields of endeavor
What is the key to success in Wall
Street? I ni afraid you will he disap
pointed by what I (ell you. There Is no
royal r«4id to learning. you know Well,
neither is there a royal road to success
in the financial world. Don’t fry short
cuts. Avoid them Ten chances to
one you will hand in the wrong place.
You tan no; find a short cut to (limb a
ladder, an you? Th* only safe way is
to move up one step at a time. By
watching your piovements Intently, by us
ing your head, your hands and your
feel intelligently. you have c\ iry chance
of r» aching the top without disaster.
“If you tried to fly up at breakneck
speed skipping a few rungs, you would
almost surely tumble down and hurt yo'ur-
FClf ”
• «■ •
“Do you mean, then, that one should
go slowly?”
• • •
“No, a young man should not move
slowly lazily. He should always be ac
tive, energetic. From the moment he en
ters an office he should exert every abil
ity he can command to earn more than
he is being paid. You have first to show
you are worth a better salary before you
can hope to get it. Tin doing all I'm
paid for' is a poor motto The fellow
who acts -»n that principle is likely to
be paid for wjiat he is doing, but no
more, with the conseouence that he sticks
pretty near the bottom
• • •
“Employers who conduct successful,
progressive establishments are always on
the lookout for bright, hard-working, con
scientious young men. the kind who keep
their eyes on their work rather than on
the face of the clock. So. when a youth
demonstrates and keeps on demonstrat
ing. for that is very important, since he
may not be recognized in a day or a week
—that he is worth a better position, he is
certain to get the better position sooner
or later and probably sooner than later.
As h«- rises he comes more directly under
the notice of his employers, so that his
chances for recognition increase If he
keeps on demonstrating expanding abil
ities he can not fail u» be advanced
a ♦ ♦
“If he makes himself so valuable that
his services ait worth a great deal, mther
than pay him a salary alculated to in
sure that he will stay with the house, the
probabilities are that he will be admitted
to partnership, thus limbing him to the
firm and at the same time giving him a
large sphere for ib»- ••xe’eiso of his tai
ent.”
■•R' w ’Dir; ' . . ■ - .it; .Io better by
starting a business of his own'."’ th
young p. u asked
“N« ; mpetiti »n is today so keen, the
existing firms I a.r speaking of the bank
ing and broker, business n ,\»w York
- are so well oiablished and th«-\ < < m
n'imi so much < ioii.il that ft is well
nigh impossible to ’■ iild up an entirely
new business •’! . pis who a»« worth hav
ing do n<'t - if fom <me h-mse to an
other when hi' it*' tcitlifuil' -wived.
Besides, a n< v, mkrown b< us ’an not
expect to win rveugnit . n for a long ’fine.
To (V'al’ sh ph to gather a (lien
tele, to an - • sulTh i nt amount of < ap
ital to be free ..on danger in time of
stress, is a -low p*i
“Things 'od;‘s ar. •' >i « on a big -.calc
The individual b •>; !<u Ho- mo. t pari he. n
Vacation Peace
Diking Tin-: siaimpk’ you
will sjientl t-oiisidf ruble money seek
ing mental ami physicaj rest; but you
can not enjoy pei i t'd pcat-e of mind if
you carry your troubles about with you
for tlie sake <>f a lew dollars.
Don't carry your silver, jewelry and
valuable papers wherever you go. or
leave them at home unprotected, when,
for a few dollars, you could put them in
one of our Safe Deposit Boxes, where
they will be proof against fire ami burg
lary. Do 1 his. and you can start your
vacation trip with a light heart.
Atlanta National Bank
The Oldest National Bank
in the Cotton States
i THE WEATHER
CONDITIONS.
WASHINGTON. July 27.- The weather
will he unsettled sunight <n<! Bunday over
the upper Lake region, with probably oc
casional showers runda' IJ- ' where eas,
of the Mississippi river fair weather will
prevail Temperature changes wdl no, be
of consequence. '
' I
GENERAL FORECAST.
Following is the forecast until 7 p. m. |
Sunday:
Georgia—Fair tonight and Sunday.
V‘ -g. ia- Fair tonight and Sunday; lit
tle change in temperature
North Carolina and South Carolina-
Fair tonight and Sunday.
Florida -Local showers tonight or Sun
day; except fair In n irthwest portion
Alabama and Mississippi - Generally fair
tonight and Sunday.
Louisiana, Arkansas, Oklahoma and i
Texas—Generali}- fair.
WOMEN CONVICTS
CRUELLTWHIPPED
I
State Prison Board Probes
Cowhiding by Deputy War
den in Muscogee Camp.
(’OLUMBUS, GA., July 27. -For thQ
second time in two months members of
the Georgia prison commission have
been summoned to Muscogee county to
investigate alleged whipping of pris
oners at the Wynnton convict camp in
Muscogee county.
’The first visit was made by Captain
Wiley Williams and Judge T. E. Pat
terson. who tame down, but nothing
was. revealed to cause unusual com
ment. This week Captain Williams was
again requested to come to the county
to investigate the severe whipping ad
ministered to two negro women by
Deput} Warden Lee. That investiga
tion is now on.
Tite story told by one of the county
officials is that Deputy Warden Lee
gave the negro women unmerciful
whippings, and then, in order to heal
their wounds, applied a strong lini
ment, which only aggravated the in
juries they had received.
Tile deputy warden did not report his
action to the road engineer, Julian
Lane, nor to County Physician Crosby,
to whom such reports must be submit
ted. Dr. Crosby went to the camp on
his regular rounds and found that the
women had been given a severe whip
ping and immediately requested Cap
tain Williams to come to the county
and institute an investigation.
’Pile county commissioners have taken
the matter up and have notified Deputy
Warden Lee that he must hand in his
resignation or they will discharge him
from the service of the county.
OROZCO TO EXECUTE
FEDERAL PRISONERS;
WAR JUST BEGINNING
FI. PASO. ’I’EXAS. July 27. The
suspension of constitutional guarantee
by the Mexican federal government will
hi met by the rebels with the execu-'
lion of ill federal prison* rs This was
the ont< nient of leaders of the revolu
tionary movement here today. The
si;spe!isi-»n of the guaraipees, they as
; > » t»‘d, was mer.-lv a pretext to permit
i.(h t';il troops to murder rebel prison
, r% and thev would r» taliate hi kiiwl.
Oencrol Aroz.en, who is still in ,lau
i fz. a-ser's that the war is just begin
, ning. ami that it will he pushed with
J ! etp’w ed v igor.
Th” s' pining f. ih i al victories, he says,
[ w < re a part of his plan of campaign.
I lit- retreats 1 northward to draw off the
I '• i; Is ami p. rmit otic r operations by
I ollie’ rebel leaders in rural Mexico.
1 submerged by (ho large firm or corpora
.lieu Therefore fs preferable (o throw
in allegiance with a strong, enterprising
I concern ami force recognition in it The
| highest places are open to the right kind
<>f men Rm as the competition is in
I tense, the effort necessary for success is
| ill the greater The aspirant for sne
| must not indulge in pleasures or
j practices injurious to ‘nis health He must
.arrive at his desk every morning >w ith a
I char ev. and a steady nerve
! ■ There is n<> ro\al road, as I have said.
, <> success Rut there is a oad a pretty
i f. hill ;>• success Xml It is worth
• v i‘.tie climbing it.”
THE ATLANTA GEORGIAN AND NEWS. SATURDAY. .TUT.Y 27. 1912.
COTTON REACHES
THIRTEEN GENTS:
Reports of Deterioration of
Crop Send Staple Higher.
Shorts Cover Holdings.
NEW YOHK, July 27.—New high rec
ords for the movement were established
at the opening of the cotton market '
today, prices advancing from 7 to 14 |
points and October touching 12.53 It was
a weather market, reflecting hot. dry*
conditions in Texan. Assertions were ,
made that '.tie crop there is deteriorating
and in urgent need of rain. In the east
ern belt con liticns were better, but the
trade Inclined to legard the Texas situa
ttomas critical. The weather tMp today
showed very little indication of moisture
In the western belt over Sunday.
Deterioration repor's from Texas say
the excessive temperatures Is causing
considerable shedding and the drouth is
becoming more serious than ever. These
reports caused an exciting scene among
the traders on the floor shortly after the
call. Shorts and commission houses made
a mad rush to cover, trading heavily upon
October and December. These two op
tions made a continuous advance, car
rying prices to the highest levels of the
year, October advancing from 12.86 cto
1.3.07 c without it pause, with December ad
vancing to 13.08 with only 1 point lead
over October. The July option made the
largest gain of the list, going to 12.88 c,
an advance of 36 points over the previous
close.
At the close the market was firm, with
prices showing net gains throughout the
list from 31 to 36 points from the final
quotations of Friday.'
RANGE OF NEW YORK FUTURES.
C £ I «• . *
* «. » |■ « ? J ?
0 K J| uM 5 iu
Julf Tl6<» T2TSS; Lf60112.87|1.2787 JIT i‘2.51-52
Aug. 12.60 12.86 12.60 1.2.85 ! 12.85-86 ; 1 2.52-5 I
Sept. 12.67 12.112 12.63 12.92 12.95-96|12.60-62
Oct. 12.80 13.07112.80 13.07 12.04-07(12.72-73
Nov.. 12.78 12.90 12.78 12.90 12.99-01 12.66-68
Dec 12.86 13.08 12.82 13.08 13.06-08(12.74-75
Jan 12.85:13.05 12.82 13.05(13.03-05112.71-72
Feb. 12. St 12.89 12.8 s 12.89 13.07-09J12.73-75
Meh. 12.11 l 13.15(12.1'2 13.14(13.14-16112.83-85
May 13 0211.3.25 13.02|13.25|13.22.;23112.90-91
< Hosed firm.
Liverpool cables were unchanged to 114
points higher opened firm 4 to 5 points
higher, closed quiet but stead? 5 to 8
points higher on old positions and 414 to
514 points higher on new crops, spots 13
points higher, middling. 7.44.
RANGE IN LIVERPOOL FUTURES.
Futures opened steady.
Opening Previous
Range Close Close
July 7.19 -7.181-2 7.2014 7.121 2
July-Aug 7.16 -7.16'4 7.1!) 7.11%
Aug.-Sept. . . . 7.09 -7.12 7.11 7.04%
Sept.-Oct. . . . 6.98 -7.01. 6.9914 6.94%
Oct.-Nov. . . . 8.90%-6.90 6.92 6.88%
Nov.-Dec. . . . 6.86 -6.85' . 6.87 6.81%
Dec.-Jan. . . , 6.84%-6.88 6.86 6.80%
Jan.-Feb. . . . 6.85 -6.81 6.86 6.81
Fel>.-Meh. . . . 6.86%-6.8t; 6.86% 6.81%
Meh.-Apr. . . . 6.86 -6.85 6.87 6.82%
Apr.-May . . . 6.87% 6.87% 6.82
May-June . . . 6.89%-6.86% 6.88% 6.83
Closed quiet but steady.
HAYWARD & CLARK'S
DAILY COTTON LETTER
—— I
NEW 1 >1(1 ,E A NS. July 27. 'the sudden 1
Jump in prices In the last hour was caused |
by late orders from New York, probably
In anticipation of the reports. -
The map shows fair weather over the I
entire belt, except partly cloudy in ex
treme northwest Texas, with .12 inch pre
cipitation at Amarillo. Otherwise no rain
is shown except .42 at Monroe, La. Tem
peratures over tlie eastern states, Arkan
sas and Tennessee, are somewhat lower
and more favorable. Indications point to
continued fair weather, except increasing
cloudiness by Sunday night in the cen
tral states
Our market opened around last night's
close, but as soon as the government fore
cast appeared anti predicted fair weather
in the western states over Sunday general
buying developed and carried new crop
prices over 13c, October selling to 13.24 c
and holding the gain well with hardly any
give way.
The marl 1 > s in a nervous state, owing
to private lb filiation reporting the crop
in tlie ws'lrn states in a critical stage
dependent fur immediate relief on general
rains. Weather developments over Sun
day will, therefore, have a decided bearing
on trade views and on the. markets.
Should there he no rain in Texas and
Oklahoma during the next forty-eight
hours and no prospects for rain appear by
Monday, the strength of bullish sentiment
I max be felt decidedly.
RANGE IN NEW ORLEANS FUTURES.
xI4 I i Iji i 5 i i
Is| = I ’l’4l s t;
JuD 13.72 13.72 13.72(13.72 13.88 13.57
\ug. 13.19 13.7!> 13.19 13.35 13.49 13.18
Sept 13.18’13.38 13.18 13.38 13.32-34113.67
1 >.l 12 I'7 13.25 12.95 13.20 13.19-26 12.94-95
X«v 13.19-20 12.94-95
I tee 12 97 13.24 12.94 13.19 1 3.19-20.12.1'4-95
i -lan 13 00 13.2'1 12.98 13.24 A3.23-24(12.99-13
I 13.27-29113.03-04
f M.T 13 o'l 13.38 13.09 13.29 13.33-34! 13.08
I 13.38-40:13.15-16
’ Maj 1:. 21 IX3I IS 21 13 33 Utl -45 13 21-22
! Closed! firm.
SPOT COTTON MARKET.
Atlanta, nominal; middling 13c.
; New Orleans, stead}; middling 13'4.
i New York steady; middling 13.25.
I'l’iladelphia. stead} . middling 13..’■0.
| Boston, steady: middling 13.25.
Liverpool, steady: middling 7.31 d
I Savannah, quiet and steady: middling
Augusta, quiet; middling !3'.,.
I Mobile, stead}'.
tlalveston. firm, middling 13’4..
Norfolk, firm: middling 13%.
Wilmington, nominal.
little Rock, quiet; middling 12’,.
I Charleston, nominal.
Baltimore, nominal: middling 13'4.
j Memphis, steady; middling 13'.,.
St. l ouis, steady; middling 13c.
Houston, stead}: middling 13c.
PORT RECEIPTS.
31 e following table shows receipts at
the ports today compared with the same
da} last year:
i i9i?. 1 __ini 1.
New Orleans. . . .1 268 1 122
Galveston .... 248 504
Mobilt *. II I
I Savannah 112 57
■Norfolk 125 2
j Boston . ... I 100
Total. . . . . ' '.’l7 786
INTERIOR MOVEMENT. ’
| I ,912. I ~i»n.
' Houston 1 ?»3 442
I Augusta 300 ...
1 M rm phis 37 29
|St Louis 1M) 25
; < ’incinnajj _■ . 213 . .
I Total. 025 49R
PARALYSIS CAUSES DEATH.
I \.X\IST<»X ALA . July 27. Clark Mor
ilgan. count' oom is ms loner of Calhoun
i! count' , was stricken with paralysis today
Hand dit'd j’ nis hoe at White Plains. He
| was a Cunt'ed('i*ate veteran and a success
j ful fariner.
CORRAL 13 BLIND TIGERS.
XXMS’D'.X. ALA.. Jul.' 27. Local of
ii< «'i - c<»rialtr<l tliiiteen blind ligers in this
city tciiax. cunh-ratlng large quantities of
liquor and hi.; They wil be tried by the
're-order Mondax nunning at a special
'-t <si<’U «»f th* police court.
READ FOR PROFIT
I GEORGIAN WANT ADS
i USE FOR RESULTS
HfllHt ISSUES
MOST IN DEMING
Stock Market Closes the Week
With Irregular Tendency To
ward Bullish Sentiment.
By CHARLES W. STORM.
NEW YORK, July 21.—A demand for
Great Northern preferred made that stock
the only feature for some time after the
stock market opened today. This buying
caused the stock to move up % to 140%.
and was followed by an advance of ’4 in
Northern Pa' iflc The recent strength m
the Hill stocks is said to be due almost
wholly to buying through houses closely
affiliated with James J. Hid, and the idea
prevails in Wall street that there Is
something back of oit more »tan the fa
vorable outlook for the spring wheat crop.
I’rice changes in other issues were lim
ited to small fractions. I'n.ted States
Steel eomon and Amalgumtaed Coppper
were up % at the end of fifteen niinutft'
trading, while Atchison, Baltimore and
Ohio and Erie showed losses of the same
trifling amount. I’nion Pacific was ff
General Electric started % lower at 182
with only one transaction recorded in the
first quarter hour.
Americans in London were narrow but
a firm tone prevailed.
The curb market opened steady.
The market closed irregular; govern
ments unchanged; other bonds dull, hut
steady.
Stock quotations:
_ i Last | Clos.lPrev
STOCKS— I High | Low.; Sal e.I Bld.JCl’se
Amal. Copper.. 82'4 82%’ 82%1 82%, 82%
Am. lessee.. 27%! 26% 27 ...J 26%
Am. Sug. Ref ' . ...| .... 126% 126%
Am. Smelting 83% 83% 83% 83 83
Am. Locomo. ’ 42%l 42%
Am. Car Fdy...! 58 i 58
Am. Cot. Oil .! .... 52%. 52%
Ain. Woolen ...I ! ... .\ 26 '26
Anaconda .... 41% 41% 41%; 41%: 41%
Atchison 108% 108% 108% 108% -08%
A. C. L 140% 140% 140%140% 140%
Amer. Can 36%| 36%
do. pref 116%1116%
Am. Beet Sug i 73 - 72%
Am. T. anil T 145’4,145%
Am. Agrlcul. . 1 .... 60 ’6O
Beth. Steel ... I ....I 35%1 35%
B. R. T ' 91', 91%' 91 % 91%: 91%
B and 0 109%|109% 109% 1109% 1109%
Can. Pacific .. 265% 265 265% 265%|265%
Corn Products 14%' 14%
C. and O. .... .1 .... 1 80% 80%
Consol. Gas I 144%|144%
Cen. Leather ’ I 26%l 26%
Colo. F. and 1.1 ...J 30%i 30
Colo. Southern ...' ....I .... 40 |4O
D. and H 168% 168%’168% 167%1167%
Den. and R. G. 18% 18%
Distil. Secur. . . ...| 32 I 32%
Erie 35% 35% 35%: 45% 30%
do. pref 53 I 52%
Gen. Electric jlB3 181 %|lßl %’182%1182%
Goldfield Cons. 4 4 4 I 3%l 3%
G. Western 17 17
C. North., pfd. 140% 140% 140% 140', 140%
G. .North. Ore.. 43% 43% 43% 43 43
Int. Harvester ;120 !20 120 119>i,120
111. Central . 133 132 133 133 '>l32’4
Interboro 20% 20%; 20%' 20 20%
do. pref. 58“4 58%’ 58%> 58%' 58%
lowa Central .I .... .... ....I 9 I 9
K. C. Southern 24%’ 24%
K. and T : 27% 27% 27%' 27% 27'
do, pref 60 60
L. Valley. . . 167% 167% 167%(167 167%
1. and N.. . . 158 158 158 157% 158
-Mo. Pacific . . ....’ i 36% 36
N. Y. Central .... ....|115% 115%
Northwest. . .‘139%139% 139%1139 ,139%
Nat. Lead. . . ....’ 58%’ 58%
N. and W. . .117% 117 117% 117 116%
No. Pacific . . .123%’123% 12.3 123 123%
O. and W.J 32 I 32%
Penn [ .... ....1123% 123%
Pacific Mail ............. 31% 31%
P. Gas Co. . ~ .... ....I .. . .jll5%!116
P. Steel Car .!....’ .... ....I 35%’ 35%
Reading. . . . 164% 164% 164%T64%’164%
Rock Island ....I .... 24% 24%
do, pfd 1 .... .... 48% 48
R. I. and Steel ....I .....’ .... 26% 26
do. pfd ; 84% 84%
S. -Sheffield ’54 54
So. Pacific . ,’IIO%’UO lIIO%TIO !109%
So. Railway . 29 29 29 ’ 28% 28%
do. pfd.. . . ' .i 21 27
St. Paul. . . . 1037, 103% 103% 103% 103%
Tenn. Copper . .... 42% 42%
Texas Pacific ...J .... .... *21% 21%
Third Avenue A....! .... .... 36% 37
I’nion Pacific 168% 168% 168% 168% 169
I'. S. Rubber . 52% 52% 52% 52% 52
I’tah Copper . 61%’ 61% 61%’ 61% 61%
t'. 8. Steel . . 70% 69%’ 70% 70 I 70%
do. nfd.. . . 11?', H 2% 112% 112 112
V. t'hem 49% 49
W. I’nion . . 82% 81% 81% 81% 82
Wabash 41 41
do. pfd.. . . 13% 13% 13% 13% 13%
W. Electric . . 80% 80 80% 79% 80%
Wis. Central 50 50
W. Maryland ' . .. ..' 59 j 58
Total sales, 57,800 shares.
NEW YORK BANK STATEMENT.
NEW YORK. July 27 The weekly
stutemei t of the New York Associated
Banks shows the following changes:
Average statement:
Excess cash reserve $18,801,800; increase
$5,142,650.
Loans increase $2,779,000
Snecie increase $5,473,800.
I .egal tenders decrease $356,000
Net deposits increase $4,645,000.
Circulation decrease $203,000.
Actual statement:
Loans increase 58.879.000.
Specie increase $3,108,000
Legal tenders decrease $228,000.
Net deposits increase $7,722,000.
Reserve increase $72,700.
LOCAL STOCKS AND BONDS.
Bid. Asked
(Atlanta A West Point R. R.. . 140 145
American Nat. Bank 220 225
I Atlantic Coal & Ice common. 100% 101
I Atlantic Coal & ice pfd 90 ti 2%
| Atlanta Brewing & Ice C 0... 175 ...
Atlanta National Bank 320 330
I B'-oad Riv. Gran. Corp 20 25
. do pfd 66 70
I Central Bank & Trust Corp. ... 150
Exposition Cotton Mills 160 165
Fourth National Bank 262% 267%
Futon National Bank 127 131
Ga. Ry. & Elec, stamped. .. 126 127
Ga. Ry. & Power Co. common 27% 31
<to. Ist pfd 81 85
do. 2d pfd 45% 46%
Hillver Trust Company 126 131
l,owry National Bank 248 250
Realty Trust Company 108 110
Sixth Ward Bank 100 110
Southern Ice common 68 70
The Security State Bank.... 115 120
Third National Bank. new... 29F 230
'Trust Company of Georgia... 225 235
Travelers Bank & Trust Co .. 125 126
BONDS.
\tlatita Gas Light Ist 5s 102 104%
Broad Riv Gran Corp. Ist 6s 90 95
Georgia State 4%5, 1915, 55... 100% 101
Ga. Ry. & Elec. Co. ss. 102 104
Ga. Ry. <<• Elec. ref. 5s 100 101
Atlanta Consolidated'ss 102%
A'lanta City 3%5. 1931 91 92
Atlant:, City 4%5. 1921 102% 103%
BUTTER. POULTRY AND EGGS.
NEW YORK. July 97. —Dressed poultry
dull turkevs 13(0 23. chickens 181827. fowls
121.'20. .lucks 18%18%.
Live poultry weaker; chickens 18(8 21.
’ fowls 15%. turkeys 14 asked, roosters 10%
tasked, ducks 14 asked, geese 11 asked
I Butter quiet: creamer} specials 26®t26' f .
I creamer? extras 27(ii27%. state dairy
I ittlbsi 21%(a26. process specials 25 asked.
Eggs unsettled: nearby white fancy 28
(u3O. nearby, brown fancy 24<<i2.‘>. extra
firsts 23(1124. firsts tß%<lt’l9%.
Cheese topheavy: whole milk specials
15 ,(o 15%. whole milk fane} 15<015',.
skims specials 12%f012’a. skims fine 10%
'Co 11%. full skims 6'«(bß%.
COTTON SEED OIL.
Cotton seed oil quotations:
... Opening. I Closing.
Spot ’ I 6.50416.75
till} ’ 6.30116 70 6.604'6.70
\ugust 6 47’86 4'B 6.531t6.54
September 0.6418 6.65 6.671/6.HR
October ...... 6 6741 6.68 6.694/6.71
November ..... 6,374/6.38 6.341/6’it
December 6 281/6 29 6,294/6.30
Januar? 6,371 r 629 6.284/ 6 .lit
Close,j ver' strong sales 7,100 barrels.
AND GOSSIP .
Os the Fleecy Staple
NEW YORk, July 27.—Carpenter Bag-
I got & Co.—The Journal of Commerce re
| ports on the condition of North Carolina.
South Carolina andFlOrida as follqwing: I
North Carolina—Tlie cotton crop is very
spotted. Some fields are looking fine;
others below the average. Owing to ex
cessive rains, cotton has grown too much
to weed and is poorly fruited and the
glass rather heavy. But conditions have
been very favorable for stiff lands and
prospects have greatly Improved in the
past ten days There are practically no
insects Labor Is scarce in some sections,
but with recent favorable weather culti
vation is proceeding satisfactorily. The
season is about two weeks Irackward.
j Several points deterioration may be look
ed for from last month's condition of 86.
South Carolina—Continuous rains have
caused the weed to become large and sap
py at the expense of fruitadge. and the
crop has not been properly worked. Some I
eotion has been drowned out in the low
lands end glass is general.
Army worms have appeared In many
sections and are doing considerable dam
age. Reports thus far received indicate
considerable deterioration from last
month s condition of 83. The season Is
three weeks late, and picking is expdbted
to begin about September 1,5.
Florida—Heavy rains have made the
prospects very poor, but the plant Is be
ginning to recover some fro,m these es-
Dallas, Texas, wires: “Texas weather:
The Panhandle generally cloudy; light
showers at Clarendon, southern and east
ern portion of Panhandle; heavv showers
at Amarillo.’’ ■ '
New York Commercial says: Spinners
are believed to have bought on an enor
mous scale.
Journal of Commerce says: Continued
hot weather is a dominant feature in cot
ton
Riordan big seller on call. 'Selling more
general than buying; buying scattered.
Following is the statistical position of
cotton on Friday. July 26, as made up b?'
The York Financial Chronicle:
I This | I.ast I Last
I Week. I Week. I Year.
Vis. supply . 2,695,235 2,824,655 1,858,116
American . J 1,868,116: 1.889,655’ 937,H6
In sight, w’k 60,556’ 54.545: 44,517
Since Sept. 1115.219,154115,158,608 11.701,980
Port stocks . 256,508! 266,330: 154,578
Port receipts ’ 12,4781 11,670 7,990
Exports ... 14,431 27.715 14,660
Int. receipts 8.565 7,932 5,926
In. shipments’ 18,268! 13,937
Int, stocks. . 110,503 120,206 96.276
NEW ORLEANS, July 37.—Hayward &
Clark: Map fair entire belt, except part
ly cloudy extreme northwest Texas. No
rain, except .12 at Amarillo, Texas; .42 at
Jackson, Miss. Temperatures somewhat
lower in eastern states and Arkansas and
Tennessee. Indications are for generally
fair belt, cooler Atlantlcs.
The New Orleans market after New
York close yesterday advanced 8 to 9
points on reports of high temperatures in
Texas. Oklahoma and. lower Mississippi
valley. Shorts reported heavy buyers.
December contracts changed hands up to
12.81 in New York.
Our traveling man wires from Fort
Worth. Texas, reported caterpillars ap
peared in south Texas. Drought becoming
more serious. Much shedding reported.
Reliable advice says that present market
inducing spot hedge sales. They appear
ing satisfied with existing prices.
New York wires: "Texas reports cotton
Shedding badly.’’
M'CULLOUGH BROTHERS’
FRUIT AND PRODUCE LETTER
The fruit and produce business through
out this section is and lias been for sev
eral weeks practically nt a standstill
The local truckers have monopolized the
field to a very large extent, which is cus
tomary at this season of tlie year.
The prospects for a fall business are very
flattering, indeed.
Fruit and vegetable crop throughout the
producing sections are reported of good
yield and superior quality, both of which
is necessary in order to produce the best
results.
Peaches have been plentiful and cheap
during the week, but in our opinion there
will be a decided faling off in in the sup
ply from now on. which should result in
a more active demand and better values.
■ The watermelon market has also been
badly congested, but at present it is
cleaning up with good prospects.
Cantaloupes of good quality are in light
suply at paying prices.
A fair demand prevails for pineapples,
while oranges are slow sale with some de
pression in values.
Bananas for the past week have been in
small demand, and no changes of conse
quence in prices.
There was no decided change in eggs
during the week.
Both live and dresed poultry plenti
ful and cheap:
Some reaction noticeable in irish pota
toes New crop sweet potatoes coming in
to the market |n limited supply.
LIVE STOCK MARKET.
CHICAGO, July 27.—Hogs -Receipts 10.-
000. Market'steady to 5c higher. Mixed
and butchers. $7,654/8.50; good heavv.
$7.80418.20; rough heavy, $7.50®7.75; light,
$7.854/8.15; pigs, $6.7541:7.85: bulk, $7.8041
8.20.
Cattle—Receipts 100. Market steady.
Beeves, $6.2541 9.75; cows and heifers, $2.75
@8.15; Stockers and feeders. $4,304/6.90;
Texans. .$6,304/8.35; calves. $8,754/ 10.00.
Sheep Receipts 5,000. Market steadv.
Native and Western. $3.25@4.90; lambs,
$4.75@7.70
NEW YORK GROCERIES.
NEW YORK, July 27.—Coffee barely
steady; No. 7 Rio spot 14%@14%. Rice
firm; domestic ordinary to prime 4%@5%.
Molasses steady; New Orleans open’kettle
36®50. Sugar, raw quiet; centrifugal 4.05,
muscovado 3,55, molasses sugar 3.30, re
fined quiet; standard granulated 5.15, cut
loaf 5.90. crushed 5.80, mold A 5.45. cubes
5.35. powdered 5.20. diamond A 5.15. con
fectioners A 4.95. No. 1 4.95. No 2 <9O
No. 3 4.86. No. 4 4 80.
ESTABLISHED 1861
Lowry National Bank
Now Occupy Their Remodelled Quarters
The officers and directors of this bank extend a cor
dial invitation to their friends, patrons and the public
generally to inspect our remodelled banking rooms.
We are confident you will appreciate our increased
and efficient service.
Capital .... $1,000,000.00 .
Surplus 1,000,000.00
Undivided Profits . 200,000.00
Lowry National Bank
Designated Depository of the United States, County of Fulton and City of Atlanta.
•T WEEKLY COTTON STATISTICS. £
Secretary Hester’s New Orleans cotton i
exchange statement of the movement of j
cotton shows an increase in the move
ment into sight compared with the seven
days last year in round numbers 14,000
bales, a decrease under the same days
year before last of 28,000 and a decrease
under the same time in 1909 of 12,000.
For the 26 days of July the totals show
an increase over last year of 43,000. a /le
erease under the same period year before
last of 48.000 and a decrease under the
same time in 1909’ of 43,000.
For the 330 days of the season that
have elapsed the aggregate is ahead of
the 330 days of last year 3,614.000. ahead
of the same days year before last 5,028,-
000 and ahead of 1909 by 1,822.000.
The amount brought into sight during
the past week has been 28.158 bales,
against 13,980 for the seven days ending
this date last year. 56,306 year before last
and 40,509 same time in 1909. and for the
26 days of July it has been 98,447, againsl
55.314 last, year. 146,321 year before last
and 141.758 same time in 1909.
The movement since September 1 shows
teecipts at all t’nited States ports 11.840,-
110, against 8,543,444 last year. 7,309,570
year before list and 9,930,052 same time
in 1909. Overland across the Mississippi,
Ohio and Potomac rivers to Northern millg
and Canada 980,816, against 932,458 last
year, 822,254 year before last and 1.214.-
059 same time in 1909: interior stocks in
excess of those held at the close of the
commercial year 19,221, against 26.645
last year and a decrease of 5,745 year be
fore last and a decrease of 952 under the
same time in 1909: Southern mill takings
2,476.000. against 2.201,038 last year. 2,-
162,286 year before last and 2,351.412 same
time in 1909
These make the total movement for the
330 days of the season from September 1
to date 15.316,147, against 11.702,585 last
year. 10.288,365 year before last and 13.-
494.571 same time in 1909.
Foreign exports for tlie week have been
11.723. against 8.912 last year, making the
total that far for the season 10,336,588.
against 7,405,486 last year an increase of
2,931.102.
Northern mill takings and Canada dur
ing the past seven days show an increase
of 5,539 as compared with the correspond
ing period last year, and their total tak
ings since September 1 have increased
313,250. The total takings of American
mills. North, South and Canada, thus far
for the-season have been 4,907,038, against
4.316.536 last year. These include 2,383.-
576 by Northern spinners, against 2,070,-
326.
Stocks at the seaboard and the 29 lead
ing Southern interior centers have de
creased during the week 22.423 bales
against a decrease during the correspond
ing period last season, of 17.975 and are
now 122,861 larger than at this date in
1911.
Including stocks left over at ports and
interior towns from the last crop and the
number of hales brought into sight thus
far from the new crop, the supply to date
is 15,603.121. against 11,950.547 for the
same period last year.
The statements of weekly movement
are now discontinued for the rest of the
season.
World's Visible Supply.
Secretary Hester’s statement of the
world's visible supply of cotton, made up
from special cable and telegraphic ad
vices, compares the figures of this week
with last week, last year and the year
before. It shows a decrease for the week
just closed of 180,543, against a decrease
of 111.798 last year and a decrease of 51,-
140 year before last.
The total visible Is 2,645.744. against 2,-
828.787 last week, 1,846.970 last year and
1 915.580 year before last. Os this the to
tal of American cotton is 1,741.244, against.
1.880.787 last week. 914.970 last year and
1.022.580 year before last, and of all other
kinds, including Egypt. Brazil, India, etc.,
907.000. against 948.000 last week. 932,000
last year and 893.000 year before last.
The total world’s visible supply of cot
ton as above shows a decrease compared
with last week of 180.543. an increase
compared with last year of 801.274 and an
ircrease compared with year before last
of 732,664.
Os the world’s visible supply of cotton
as above there is now atloat and held In
Great Britain and continental Europe 1,-
676.000, against 1,047.000 last year and
954,000 year before last; in Egypt 64.000,
against 76.000 last year and 58.000 year
before last: in India 555,000, against 478.-
000 last year and 365.000 year before last;
and in the United States 353.000. against
226.000 last year and 339,000 year before
last.
World's Spinners' Takings.
Secretary Hester gives the taking nf
American cotton by spinners throughout
the world as follows, in round numbers:
This week 168,000 this year, against 104,-
000 last year, 79.000 year before last.
Total since September 1, this year, 14,-
367.000. against 11,570.000 last year, 10,-
737.000 the year before.
Os this Northern spinners and Canada
took 2.384.000 bales this year, against 2.-
071,000 last year, and 2.054,000 the year
before: Southern spinners 2.523,000.
against 2.246,000 last year, and 2,240,000
the year before; and foreign spinners 9.-
460.000. against 7,258,000 last year, and
6,443,000 the year before.
NEW YORK COFFEE MARKET.
Coffee quotations:
I Opening. | Closing.
January 113.29® 13.45|13.35@13;36
February 113.35@13.45i13.31@13.33
March ’13.50 13.43 $13.44
April 13.48@13.55 13.45@13.46
May 13.52 13.4.7$ 13.49
June .......113.50.@13.53113.47@13.49
July ! 13.03$ 13.04
August 1.3.05® 13.07
September ’13.18@13.24:13.15@13.16
October !13.20513.32j13.20@13.21
November 13.25$ 13.75’ 13.26® 13.27
December ,13.36 13.33513.34
Closed quiet. Sales, 23.000 bags.
FIRE AT NARRAGANSETT PIER.
NARRAGANSETT °IER, R. 1.. July
27.—The little casino and seven cot
tages are afire here.
BLACK ROST TO
STEADIES WHEAT
Other Cereals Irregular at the
Close—Cables Strong and
Weather Favorable.
ST.’ LOUIS CASH QUOTATIONS.
Wheat -No. 2 red tnewt 101 fttoti
Corn Jt
oats
27 ~ Wheat opened firm
and %@%c higher on the stronger Li
erpool cables, export, sales of 500 O'V
bushels wheat yesterday and overnight
buying orders induced by reports of bla<-
rust, but eased off sharply later
Corn was weak and lower nn
general selling induced bv the favorable
weather.
July oats were very weak and after
opening %c lower sold down to 43% or
under the previous day's close. Deferred
futures were % to %c lower.
Provisions were 2% to 7%c higher in
sympathy with hogs.
The tone in wheat ruled firmer during
most of today’s session on steady tone
cables and fears of black rust in' both
i’nite/l States and Canada. Final prices
showed net declines of % to ',!<• on Sep
tember and December, 1-16 on Mav, while
Jul}- closed showing a net gain of 1%
Corn closed % to %c better. The mar
ket was heavy /luring most of the da'
but rallied toward the close on buying
by commission houses, added to report's
of damage in Oklahoma and Texas.
Oats lacked strength and final prices
showed net losse on July of S'.e, while
the deferred futures closed % to %<■ low
er. The July option rallied toward the
close from a bad break.
Provisions lost part of the early bulge
on selling by longs and finished unchanged
to 5 points higher.
CHICAGO GRArN MARKET.
Open. High Low. Close Close.
WHEAT - Pr ‘*
July , 97% 98% 96% 38% 96%
Sept. 94% 94% 93% 935 J 937.
Dec. 96% 96“ S 95% 95% %
May 1.00% 1.00% 99% 1.00 1 00
CORN—
July 71% 72 70% 71% 71
Sept. 65% 65% 64% 64% 65%
Dec. 56% 56% 56 569 s 56%
May 57% 57% 57 57% 57%
oats -
July 46 46 42% 44% 46%
Sept. 33 33% 32% 33 33%
Dec. 34% 34% .34 34% 3t%
May 36% 36% 36% 36% 36%
PORK—
Jly 18.10 18.1.0 18.10 18.10 18.02'-,
Spt 18.25 18.40 18.22% 18.27% 18.30 ‘
Dec 18.37% 18.45 1.8.32% 18.35 18.25
L ARD—
Jly 10.70 10.70 10.70 10.70 10.62',
Spt 10.80 10.80 10.75 10.85 10.75 '
Dec 10.87% 10.87% 10.80 10.85 10.82',
Bl’tS -
Jly 1.0.57% 10.57% 10.57% 10.57% 10.75
Spt 10.65 1.0.65 10.62% 10.62% 10.62',,
Dec 10.60 10.60 10.57% 10.60 1.0.57%
CHICAGO CASH QUOTATIONS.
CHICAGO, July 27.—Wheat -No. 2 red
98@L02. No. 3 red 96@>1.00. No. 2 hartj
winter 97%@1.00. No. 3 hard winter 95' ’
@9B. No. 1 Northern spring 1 06@1.12. N"
2 Northern spring l:04@1.09, No. 3 spring
98® 1.07.
Corn —Na. 2 73@73%. No. 2 white ,64/
76%, No. 2 yellow 74® 74%. No. 3 72® 72%.
No. 3 white 75@75%, No. 3 yellow 72%®
73%. No 4 70@70%. No. 4 white 73%®
74, No. 4 yellow 71@72.
Oats —No. 2 new 43, No. 2 white old 51.
new 48@50, No. 3 white old 46@48. new 45
@46, No. 4 white old 43® 46. standard D®
50%.
LIVERPOOL GRAIN MARKET.
Wheat closed %d higher on Jul} to %d
higher on December.
Corn closed unchanged
CHICAGO CAR LOTS
Following <*re receipts for Saturday and
estimated receipts for Monday
I Saturday.! Monday
Wheat I 34 277
Corn 1 142 .
Oats : 117 86
Hogs 10.000
PRIMARY MOVEMENT.
WHEAT— I 1912 J l9 ll_
Receipts . 7 ! 1,584,000 ! 1.476.000
Shipments 614,000 .i44.0t"
CORN— 1 ~i
Receipts J 356,000 : 460.000
Shipments ...■■■! 300.000 241. Q"",
NEW YORK PRODUCE MARKET.
NEW YORK. July 27.—Wheat firm.
July, 1.01%@1.01%; spot, No. 2 red. 1.0,
in elevator, and 1.09% f. o. b. corn dull.
No. 2, in elevator, nominal; export No. -
80. f. o b.; steamer, nominal; No. JJ?” I ,’
inal. Oats easy; natural white, 61® h '
white clipped. 63@65. Rye dull: N° „
nominal, f. o. b. New York Barley dull,
malting, nominal, c. 1. f. Buffalo. Ha
easy; good to prime, 90@1.35: poor to ran
80® 1.15. Flour unsettled: spring paten’
5.25@5.40: straights. 4.95@5.20_: clears
4.75® 5.00: winter patents. .'.50®».%
straights, 4.90@5.00; clears J' 50
Beef firm; family. 18.00®18.»0. [ ’
steady;, mess. 20.00@20.75: family. -9-91, '
21,25.' Lard firm: city steam, 10% ' bid ;
middle west spot. 1.05 <btd).
quiet: city, in hogsheads. 6% tasked',
country, in tierces, 5%@6%.