Newspaper Page Text
FACT m GOSSIP
IN MONEY MARTS
Why Is It There Are More
Lawyers in Congress Than
Other Professions?
By B. C. FORBES.
NEW YORK. Aug. 14. -America is
’awyer-ridden. 'The be-all and end-all. the
Alpha and Omega of government is not
to grind out laws b\ the thousands, hut
t«» foster the happiness and welfare of
the governed. It is an old and accepted
maxim that that country is best governed
which is least governed. In a republic
n a democracy laws should be as few
and simple as possible, not as many and
hs intricate as legal ingenuity ran con
trive.
Think of 35.000 thirty-five thousand
laws being passed during one session!
■ • •
1 have looked up the records, and I
find thai lawyers have constituted from
6.'» to 70 per cent of our congressmen dur
ing quite a number of years, 'fake the
fiftieth congress. It was composed of 263
law vers. 69 business men. 27 agricultural
people and 42 others. In other words, of
every 100 members. 65 were legal gentle
men. 17 men of business,-7 agriculturists
and 11 followers of various other tasks or
professions. In the Fifty-sixth session
no fewer than 299 members were lawyers
—6B out of every 100—while agriculture
could claim only 5 and business 20.
♦ * ♦
The business of government should be
placed a little—a great deal- more in the
hands of business men. men of practical
experience in the actual affairs rather
than the theories of life. We are a busi
ness nation, a people of achievement in
the workshop, in the field, in the‘ factory,
in the counting house, in the laboratory.
Why not entrust our government to grad
uates of these stern schools rather than
to students of legal tomes?
* ♦ ♦
Let us be honest, however. Let us ad
mit that business men are partly, if not
chiefly, to blame for their sparse repre
sentation in the halls of our solons. Men
of large affairs have too often in the
past looked down upon politics. They
have regarded polities as a game to be
played. rot honestly, honorably and
above-board, but by stealth, by subter
fuge. by corruption. Unfortunately, too
n-an.x politicians did play dishonestly, did
ray more attention to their own purses
than to principles, and did drag law-mak
ing into the mire. But also unfortunate
lv men of big business were by no means
blameless, for not infrequently they were
parties to bribery, to underhandedness
to erooked dealings They used politi
cians as pawns. They sought favors and
•were willing to pay for them. “Yellow
dogs abounded in the subcellars of leg
islatures - fed from high sources often
times. (See the Standard Oil letter?
printed month by month in Hearst’s Mag
azine. >
• • •
Happily. the kennels have been thinned
to some extent. It is no longer considered
proper to feed Yellow’ Ilogs. The rail
roads for the most part have stopped it.
Standard Oil, having been “dissolved,’
max riot find occasion to spend so much
for legal or illegal—-services. Yellow
Hogs, it has been demonstrated, are apt
to be pulled from the darkness of their
subterranean kennels and placed in the
limelight. I
■ * ♦
Politics is becoming more respectable.
This being so, max we not hope that
hereafter business, agriculture, education
and other lines of activity will contribute
a larger quota of legislators7
» ♦ <
Lawyers have not proved a success at
making laws The laws of the United
States form the most jumbled-up. compli
cated. contradictory, impracticable, sense
less mess to be found in any nation on
earth. We pass more silly acts in one
year than any other country passes in a
generation. Some of our statutes are not
even meant to be. enforced. Others are
intended to please a passing whim and
are promptly forgotten The most dis
cussed American law today is the Sher
man anti-trust act. For some two decades
It was left in peaceful repose, its pro
visions utterly neglected and everywhere
violated with impunity. Then it was re
discovered brought from its pigeonhole
and made to do duty, although just what
duties i» ought to do could not be deter
mined by the courts, the final interpre
tation being a hopelessly divided one.
» • •
If the next two or three sessions of
congress. Federal and state, were devoted,
not to making more laws, but to making
bonfires nf most of the old ones, and con
solidating, classifx ing and remodeling the
sensible and necessary ones, the country
would be much better off. It is criminal
to pass statutes that can not possibly be
enforced, for thereby the innocent are
made lawbreakers.
* *
Instead of 70 lawyers in everx 100 leg-
Going Abroad?
VOT WILL SAVE 'TIME. AVOID
-*• delays, have your money always
safe. and. practically enjoy the many
benefits of having a bank account in
evei’y country in which yon may travel,
if yon carry with you a Letter of Credit
or Travelers’Cheque. Il will enable you
to know exactly the relative worth of
your money in foreign countries, and en
able you to keep an accurate account of
your expenditures.
And yet the cost is \ erv small. A
mere nothing compared will) the innu
merable benefits they afford.
We will be glad to have you come in
and talk the matter ov-er with us.
Atlanta National Bank
The Oldest National Bank
in the Cotton States.
-
DARBY ADV . ATLANTA ' ' ’ ~
Sam Jones Tabernacle Rebaptized
FACTIONS HEAL BREACH
CARTERSVILLE. GA.. Aug. 14.—1 n
the closing hours of one of the most re-
I markable series of rcligioils revivals
I ever know n in Georgia, the famous
I Sam Jones tabernacle, which for five
years had been closed, was “rebaptized
to evangelism" after what threatened
to be a serious factional breach be
tween the churches and the tabernacle
workers was healed and 2.000 persons
voted to raise the fund necessary to
perpetuate the annual tabernacle revi
vals. with Bob Jones as their evange
list.
>'n Sunday the final meetings of the
twelve days Revival which has been held
here by Bob Jones and Rev. Dr Mun
hall, of Philadelphia brought this to a
head
When tlte Alabama evangelist came
to Cartersville to open the tabernacle,
which itad been closed to evangelists
since Rev. Walt Holcomb's famous faux
pas and police court experience five
years ago. he found that <'artersville
was very much divided as to the ex
pediency of his evangelistic propagan
da. Two well known clergymen were
openly frowning and a great many pat
' ishiomis declared that the regular
I churches and ministers were ample to
take care of the religious situation in
< 'artersville.
Jones and Dr. Munhall went along
preaching three times a day. They drew
1 good audiences, and undoubtedly arous-
i Cotton Bill Up j ’
• To Taft to Sign •
9 _
• WASHINGTON. Aug 14. -The •
• senate toduv passed the cotton bill •
• as it came from the house, by a •
• vote of 36 to 19. This proposes •
• reduction of about 40 per coni in •
• the present schedules. •
• •
POLICE TO SID IT
: MANLY'S FUNERAL
i Men Who Were Under the
Former Chief Will Act as
His Pallbearers.
i '
I The body of Captain W. P. Manly,
former chief of police, who died at
Grady hospital last night, will be borne
i to the grave at Oakland cemetery to
r morrow by men who once received or
-1 ders from him. Members of the police
department will act as pall bearers.
They will take charge of. the eask'et
’during the funeral exercises at 10
o'clock in Greenberg A- Bond's chapel
i and will cs.ort it to the cemetery.
1 Captain Manly wa« a retired officer
when he died. He was one of the first
to derive benefits from the city ordi
nance providing pensions for superan-
l nuated members of the department. He
retired last November and lived with
’ his family at Austell.
For four years he was chief of police
t in Atlanta. In 1901 he was retired. He
i continued in the service and recently
‘ was wagofi jrfficer. and at the end of
' his connection with the department
had served 35 years.
s Captain Manly was an Odd Fellow
and a Mason. He is survived by his
. widow, a son and a sister. Mrs. Jennie
. A. Wiley, all of Austell.
» ,
The best Want Ad days in The Geor
gian are Monday. Tuesday, Wednesday,
Thursday. Friday, Saturday Try them
ALL. The results will surprise you.
’ islators. let us strive to have 70 non-law
yers, men drawn from the soil, from the
, mill, from the store, from the factory,
from the bank, from the mine, from the
I railroad, from the playhouse, from the
, school, from the publishing house, from
, the church, from, in short, every sphere
of our many-sided national life. And in
stead of 35,000 laws per session, give us
nearer fifty or five
1 E ATLANTA GEORGIAN AND NEWS. WEDNESDAY. AUGUST 14. 1912.
ed deep religious fervor. Nevertheless. ;
the situation among the religious peo
ple in the city remained tense.
On Wednesday, however, the revival
ists received a striking accession in
Rev. J. M. Long, pastor of the First
Baptist church, w ho, at one of the (
meetings, publicly approved the evan
gelistic work.
Sunday morning and afternoon the
I great edifice was crowded to its capac
ity. More than 2,00 b people from every
part of north Georgia attended. At-i
lanta sent a delegation of more than a
hundred. The great grove fringing the (
tabernacle was crowded with convey
ances of the rural folks.
At the end of the sermon Rev
Georfce F. Brown took the pulpit, sta
tioned ushers at the exits, and called I
for a personal collection for the evan- !
gelists. He was aided by W. D. i'p
shaw. of Atlanta. editor of The Golden j
Age. who called upon the congregation |
to join in "techristening" the taber-!
nacle. Mrs. Sam Jon’es led the sub- j
scriptions with $25. Others chimed in j
with sums of $2 to $25. so that more j
than SSOO had been collected before the,
ushers began passing the hats.
The great audience —including all the
pastors—arose to vote aye to the prop
osition of inviting Rob Jones and Dr.
Munhall back next year. It is said that
the $5,000 necessary to finance next
year's meeting has been, in large part,
already pledged
woolbillvote
PLEASES WILSON
•
Function of Politics Is to Pro
mote Justice and Right. He
Tells Church Party.
SEAGIRT, N. J.. Aug 14.-Governor |
Wilson today heartily commended the |
Democratic house of representatives I
for passing the LaFollette-Underwood I
wool bill over the veto of President!
Taft. When his opinion on that action |
was asked, he said:
"I am heartily in favor of the wool j
bill. I’think the action of the house |
was entirely justifiable. I suppose the I
bill has little chance in the senate."
To a Sunday school delegation of |
about 100 from Allentow n. Pa., who vis- ]
ited him today. Governor Wilson told I
'the Pennsylvanians how kindly he felt |
toward them for their slate's support in ;
the Baltimore convention in the face of I
strong opposition.
"And yet those are the things which
I am ready to forget." he continued,
“because there is no longer a division of
opinion among delegates nor a division
of feeling, and 1 am beginning to hope I
there Is no longer a division of opinion I
among Americans as to what they want I
Tltey want the state, by which I mean I
the entire Union of states, to lend it- |
seif to the service of humanity. In one I
sense the function of politics is the i
same function that you represent, it it I
the function of doing whatever legis I
lation can do to see that justice and
righteousness prevail on the earth. Tbs
disappointing thing to evert generation
is that it can make so little progress
toward that goal, that idea, but we
ought not let ourselves free from the
obligation because it is hard to fulfill."
NEW YORK CQFFEE MARKET.
Coffee, quota tion s:
•Open!ng. I Closing- 1
•lanuarvl'.:. 62ft. 12.64 12.58® 12.60
Februaryl2.6oftl2.64 12.63ft1J.65
March 12.68 12.65 ft 12.66 i
April 12.67 ft 12.68 I
May. ... 12.68 I
•lune 12.65 ft 12.70 12.65<a 12.67 I
July 12.65 ft 12.70 12.61 ft 12.62 '
Augustl2.3s
Septemberl2.4s© 12.55
October 12 50® 12.60 12 56© 12 57
November. . . . 1 ::.55ft 1: .60 12.51 ft 12 53
Decembet 12.55© 12 !: 54© 12 57
Closed steady. Sales. 102,510 bags.
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 1.20a. 5.75
©6.75: good steers 600 u. ’ non 5.25ft:5.7:i:
medium to good steers. 700 to 350. 4.75 ft
5.25: good to choice beef cows. SOO tn :0(t. |
4.50®4.75: medium to good beef cows 700 i
i• to 800. 3 75© 4.25: good to choice heifers.
1750 to 850. I.ooft 4 75. medium to good
heifers. 650 to 750. 3.75 ft t. 50.
The above represent riding prices on
good quality of beef cattle Inferior
grades and dairy types selling lower.
Mixeti common steers, if fat. 700 to 800.
I t.OOft 4. mixed common t ows, if fat 600
j to 800. 3.50 ft 4.00: mixed common bunches !
I to fair, 600 to 800. 2.75ft3.50; good butch-
I er hulls. 3.00© 3 15
Prime hogs. 160 to 200 average, 7.75©
8.25: good butcher Imgs. I to to 160, 7.50 ft ;
8.00; good butcher pigs. 100 to 140. 7.00 ft
7.50. light pigs. 80 to ion. 6.5041 7.0 o: luavv:
rough bogs. 200 to 250. 7.00 ft 7.50
Above quotations apply to corn-fed,
hogs Masli ami peanut fattened hogs
Iftl’-e lower.
I Good run of medium cattle in vard this!
week, although the supply of sir.i tlv g<. d
beef is short. Several mixed loads of
Tennessee cattle were among the arrivals
first of week. A few-good steers were!
selected from these oars and brought the
fop prices for this week
Grass cattle are coming more plentiful 1
from local points; qualitv not \>q up to '
standard. owing to heart rainfall this
season the grass has contained too mu< h ■■
moisture and grazing cattle arc not
fat
Marker is considered strong to higher
on better grades and about sttadx on
medium stuff Light and common^» at th i
are slow sale at under quotation of
a week ago.
Lamb market about steadv. supply
normal and quality continues fair!' good
Hog receipts moderate; market' strong
and higher.
it's like getting money fr in home sot
it's money easily made nv reading using
an.l answering the Want Ads in Tlte
I Georgian Few people realize the mart'
lopportunit.es offered them among tlte
| small ads It's a good sign that if the peo
ple did not get results from the Want \.is
of The Georgian that there would not b<
Iso inant of then. If. for nothing else - t
I down anti ct.euk off the ads that appeal .>
j ou. You will be astonished bow mat "f :
them mean mnner to you The Want .'<l:
pages a,c bargain counters In overs lice ;
Ti e a<l- are so onvcnlentls arranged tiiat
they an be picked out very easy. i
SOUTHERN MILLS
ACTIVE IN COTTON
Textile Interests Among Best
Buyers—Covering by Shorts
Causes Good Advance.
Nl-.\\ VORK, Aug 14. Firm cables
caused the cotton market today to open!
unchanged to 2 points better than Tues
| day’s .-losing prices. After (he call (he
market xveakened on favorable weather*
i conditifins. which caused an unloading
moxeinent by longs, and prices had a ten- .
j den-. \ to sag lower Most active post- |
tions declined aggregate of B to u points
; frojn the early prices.
Shorts covering during the late fore
-1 noon and afternoon trailing gave the mar
i Let a steady lone, and prices quickly de-
\ eloped an upward movement and the
[entire earl\ decline was soon gained. The
| December option displayed the most
i strength. This option rose from 11.28 to
| 11.5 X. October and January followed the 1
[advance moderated Some Southern mills
[were reported to have put in their ap-I
' pea rance and were among the best buy - i
; ers throughout the day's trading
Hutton & Go. issued their monthly re 1
port today at noon on the condition of I
’ ing crop, placing their figures |
lat against 78.5 last month, showing!
a decline in eondittona of 08 per cent. 1
At the close the market was steady.!
with prices showing a net adva.nce of 17
to 20 points over the 1 final quotations of
Tuesday.
RA L G E O F NEW YOR K FUTURES.
H fill I 9
-
J"* j 11.36-38111.19-21
•Sept. 11.12 11.12 11.12 11.12 11 36-38 11.19-21
Oct 11.37 11.53 11.20 I 1.52 1 1.52-53 1 1.35-36
j .Xov II , n 6 1 1.56 II .56 11.56 11.54-56 1 I 37-311 <
'.'c I 1 ■•'l9 1 1.61 11.23 II .60 11.5 U-60 11.3 H-42 !
I lan. 11.35 11.57 1 1.18 1 1.54 11.53-54 11.33-35
' 11.59-61 11 tn- 13
I Meh. 11. Hi 1 1.65 11.33 11.65 11.65-66 I I 47-18
I May 11.58 11.75 11 t 5 11.75 11.73-75 11.56-57
Closed steady.
Liverpool cables were due 101sffil2Vs
points higher. Opened firm at lift tit
points advance At 12:15 p. m. the mar
ket was steady at a net advance of 14® 16
taunts. Spot cotton quiet at 10 points ad
vance; middling 7.02. sales 5.000 bales, in
cluding 4,000 American.
At the close the market was steady
with prices a net gain of sft points
over the final figures of Tuesday."'
RANGE IN LIVERPOOL FUTURES.
Futures opened firm.
Range 2 P. M. Close. Prev.
opening Prev.
I Aug. . 6.48 -6.50 6.51 6 42' 2 6.36
■ Aug.-Sept 6.39 -6.42'.. 644 635 ’ 6.27'..
Sept.-Oct. 6.26 -6.30 ’ 6.31 6.22> 2 6.17'i
■Del.-Nov. 6.22 -6.25'0 6.26'j 6.17 1 -. 6.10> 2
I Not -Dec. 6.17‘ 2 -6.20> 2 6.21 6.12 6.05
, Dec.-Jan. 6,1. -6.18'2 6.191, 6.12 6.06
■ Jan.-Feb. 6.18 -6.21 “ 6.21'-j 6 12' 2
Feb.-Meh. 6.1.8 -6.21 (j. 6.22b 2 6.13',
'Meh.-Apt 6.20 -6.22‘» 6.23 * 6.14'... 6.08'..
. Apr.-May 6.21 ' 2 -6.23U 6 2.5 6.15' 2
'May-.lune 6.23 -6.22 6.25* 2 6.16',
I June-.lnly 6.22 -6.23’, 2 6.16
I Closed steady.
I HAYWARD & CLARK’S
DAILY COTTON LETTER
I NEW ('RLKANS. Aug. 14. 'The English
I market fully met the recovery on our side
[ and. according to the above cable, ap
| pears ready for further recovery in case
i crop news should become unfavorable.
Weather developments ox’er night were,
however, distinctly favorable. Tempera
tures are normal throughout the belt
ami the map shows some precipitation in
extreme west Texas ami .on at Galveston,
also some precipitation in North Carolina
where moisture is needed. Indications are
for unsettled, rainx weather coining in
Texas and Oklahoma, partly cloudy; pos-
I sibly some isolated showers elsewhere,
I followed by generally unsettled, showery
I by Friday night
; In regard to the market the first effect
of ra ns in west and south Texas would
probably Ire sentimentally bearish, as it
i would relieve the long expectation of rain
there, but the second effect would be bull
I ish. as rains would interfere with picking
land the movement and the trade depends 1
i on south Texas for its August cotton.
Furthermore, a wet spell in the central,
am! eastern states would .not he welcomed
outside of North Carolina and might lead ,
to insect complaints or damage and might i
give rise to the idea of delay in crop!
movement. The market has. therefore,
mm h to consider in regard to weather.
’The market opened with unchanged fig-|
ures dropped about 12 points on the g<»v- ;
eminent forecast of showery weather in
west Texas, but soon recovered There
was a better feeling and good buying on
dips probably coming front trade sources.
RANGE IN NEW ORLEANS FUTURES.
« i at tI; c |i *
r - r. - -
i f_Lz - _ '
Aug. '''ll.Bß 11.63
i Septll 76 11.52
<>ct. 1 1.16 11.73 11.35 11.70 1 1.70-71 11 46- 17'
i Nox-1 1.70-72 11.46-47
I Dec 11. *8 11.74 11.35 11.71*11.71-72 1 1.46-17 i
lai ' i :•• ’ ' 77 ” 39 11.74’11 74 75;11 49-50
Feb 11 76-78 1 I 51-53.
Meh 11.60 11.87 11.51 1 1.86 11.85-86 11.59-60!
\pr ... . .... 1 1.88-90 11.61-63 :
M ' ' 62 . i ~[4. ;o
Closed firm.
SPOT COTTON MARKET.
Atlanta, nominal; middling '2’ L
, New Orleans, steady; middling 11 13-16.
New York, quiet, middling 12c
Boston, quiet; middling 12<-.
Philadelphia, quiet: middling 12.15
Liverpool, firm; middling 6.72 d
Augusta, quiet. middling 12 1 1
Savannah, steady, middling 11L.
Mobile, nominal.
Galveston, quiet; middling 12 3 x.
Norfolk, steadx ; middling 12*4
Wilmington, nominal.
Little Rock, steadx : middling I2’fc.
Charleston, nominal
Baltimore, nominal: middling 12%.
. Memphis. <iuiot; middling 12c,
St. Louis, dull; middling 12 l : ,
I Houston, steady, middling 12<
i Louisville, firm; middling 13c
.
COTTON MARKET OPINIONS.
Bailex A- Monypimery. • 'The situation
I is such that a conservative policy should
i be adopted in following the market, cither
! in an upxvard or further downward direr- j
lion.”
Logan A- Bryan. “It is well to consider
■ the oversold condition of the market and
the uncertaintx that yet attends a lat»-
croo 1h fore selling cottone at inis level.” 1
Miller A- Co.; •Purchases made on weak
'.spots is the tight thing to do."
Morris 11. Rothschild A- ’ '<- “We think !
i a goo<l demand xx ill be found slightly
I above 11 < ents."
PORT RECEIPTS.
’The following table shows receipts at •
ihe ports to<iay, compared xx ith the same
. . i
1912. ‘ J I91l.”2
rleans . . . 734
Galveston. ... 2.805 7.594
Mobile 11
Savannah 415 963
Charleston
Norfolk .... 377 5 I
Boston 70
Total 1.013 9,341
INTERIOR MOVEMENT.
. 1912 ' r 1911
Houston . . '.87? . ■
Augusta 12!* 1
1 Memphis 65 301
St Louis ... 171 233
; < ’inefnna ti... 227 2 t
* Total 5,4*1 3.951 |
METAL MARKET.
MAI Y'IKK. Aug 14 Tlie mPtal px
|i> xx as fair!' .olive Coppet spot io
*»< toiler 7 :’»'»/1 7 5l». speiter. 6.'Jofd 7.00,
I!• I I"''*/ 1.60 tin, 4 ’i.’Cq 160
STOCK MARKET I
DN HIGH EEIEL
Steel and Industrial Issues
Show Added Strength-- Fa
vorable Crop Outlook.
By CHARLES W. STORM.
NLW YORK. Xug 14 Canadian Pa-
(■‘ifir. with a: oivance of 2 points, showed
, the greatest amount ,?f gain at tne open
ing of the stock market at the opening
i today, although strength pervaded the
, entire list and a number of issues rose
sharply
Nearly all the price changes during the
first fifteen minutes were toward higher
levels xxith some issues selling at the
highest figures of the present movement.
Persistent buying of the Dries xxas again
in evidence, the common selling at
.against 37’ H at the close last night and
the preferred show ing a gain of ■’•g upon |
the first sale Cana<lian Pacific's strength [
[was chiefly <iue to a bull movement in'
that issue in London. Good buying was •
noted here also in Reading and Lehigh
\ alley. Lehigh Vallex game.l \ and
Reading 12.
! Among the other advances in the in-
I itial trading were I’nited States Steel. s .
j Amalgamated Copper, >. Smelting, 4.
I Baltimore and Ohio. Atchison. and
| I nion Pacific. r, R .
Buying in New York market seemed to
< ome from a number of sources. 'The
curb was firm Americans in London
were steadx at improvements over last
night's closing.
The upxvard movement made further
progress during the forenoon, many Issues
scoring gains ranging from a fraction to
over 1 point. Steel and many of the
minor steel industries together with
American Car Foundry, American Loco
motive and the Pittsburg Coal issues
• were active anad strong
After a period of quietness right after
! midday a strong tone again developed in
i the market in the late afternoon trailing
, \ igm-His ,i.i \ a ii< .■ were made in a num
ber of Issues. U. S. Steel common gained
I point, goipg to 74.
Stocks closed strong.
Government bonds unchanged tuber
bonds steady.
stock quotations:
I I I Last I Clos.lPrev
STutJxS iligii Low Sai< Bid ICl’se
Amal • Jopper 86 BtM < 85 - 85 fa 85} ■
Am. Ice Sec 26 26
Am. Sug. Ref. 129 l2B’- 2 12!» 128% 12S'->
Am. Smelting R7’,2 86% 86 7 » 86% 86
Am. Loconio... 45% 45 45% 45% 44%
Am. Car Fdy. 61% 60% 61% 6! 60%
Am. Cot. Oil* 53% 53%
Amer Woolen 27 37
Anaconda . 43% 43% 43% 43% 13%
Atchison .110% 110 I |b% 110% 109%
A. C I. . . 148% 147% 147% ’47*o 147%
Amer. Can .. 41% 41% 41% 41 41
do. prefll9% 119%
Am. Heel Sug. 71% 71 71% 71% 70%
Am. T. and T ’46% 146 146% 146 145%
Am Agri< ul 60% 60%
Beth Steel 4< A 38 40 39% 38
B. R. T 93% 92% 93% 93 92%
B. and <>109% 109 109 109% 108%
Can. Pacific 281% 281 *2Bl 280% 279%
Corn Products 16 15% 15% 15% 15
<’• and <> 83% 82% 83% 83 82
xConsol. Gas . U7% 147 147% 147% 148%
Cen Leather 80% 29% 30
Colo. F. and I 32% 31% 32% 3: % 31%
Colo Southern. 40 40
D. and H I6'.i 16!»
i; Den. and R. G 22% 22
I Hstil. Secur 33> • ::.l , .33 4 33' t 33
' Erie 38% 37% 38% 38% 37%
do. prof. 55" k 55% 55% 55% 55%
JGen. Electric 183% 183»,o 183%183% 183
Goldfield Cons 3% 3% 3% 3%' 3%
G. Western 18% 18% 18% . 18%
i G. North., pfd. ’43% 1-12% 113% 1411% 142%
. G. North Ore 46% 44% 46% 46% 14
i I nt. Harvester ” 123% 123 %
‘ 111 Central 131% 131% 131% ...” 131%
i iDterboro .. 2'." -. ; 20%, 20% 20’ 2 20%
do. pref. 60% 60% 60% 60% 60
lowa Centrallo 11
K. C. Southern 27 27 27 27 27%
K. ami T. .. 29% 29% 2! % 29% 29%
do. pref . 64 64 64 ” 64 62 ”
L. Vallex. 173% 172% 173% 173% 172%
L and N . . 170 169% 169% 169% 168%
! Mo. Pacific . . 39% 38% 39% 39% 38%
N V Central 118% 118 118% 118% 117%
j Northwest .Ml 143% 143% 143% 142%
Nat. Lead . . 60 59% 60 59% 5!»
!N. and W . 118% 1.18% 118% 118’., 118%
, No. Pacific . .131% 131 131 131% 131%
j(>. and W. . . 33% 33% 33% 33% 32%
Penn . . . 125 124% 125 124% 124%
' Pacific Mail 32'- 32% 32% 32 31%
! P. Gas Collß% 117%
i P. Steel (’ar 37% 37 ; 37% 37% 37
. Reading . . 172% 172'., 172% 172% 172%
! Rock Islam! . 27% 27% 27% 27% 26%
do. pfd 53 52
R. I and Steel 28% 27% 28% 38% 27%
do pfd.. . . 90% 89% 90% 90% 89%
S. Sheffieldsß% 56%
So. Pacific 1’3% 113 113% 113% 113
So. Railway 30% 30 30% 30% 30
do pfd 81 ; 80% 81 81 80%
St. Paul. 109 108% 108% 108% 108
Tenn Copper 43% 12%- 43% 42 s h. 42%
'Texas Pacific . 22% 22 1 ,-- 22%' 22% 22% 1
Third Avenue I ... 38 3>%i
Union Pacific 174% 174 174 % 174% 173%
I’. S. Rubber . 52 52% 53 52%
i t-'fuli Copper 63% 63% 63% 63% 63
U S. Steel . . 71% 72% 74% 74 72%
do. pfd. . . 113% 113 113% 113% 112%
!V■< ’. < 'hem. . 18% 48% 18% 18% 48%)
W. Union . . 83% 82 83% 83% 81%:
IWa bash .. .' . . 1 % 4% !
i do pfd . 14% 14%
!W. Hlectrfc . 88 87 88 87% 87%
| Wis. (’entral . 61 60
I Maryland . . . 1 56% 57
Total sales, 610,000 shares x Lx-dlv-
I idend, 1 1 r < ent
MINING STOCKS.
RoST<»N. Aug '4 Opening < >ld <’ol- |
c-nx 'I. Sama Fe 3-* h . Shannon 17%.'
Ma\ flower 14%
LOCAL STOCKS AND BONOS
B‘d. Asked
Atlanta <v West Point R R . ho 145
American Nat Bank 220 225
I Atlantic Cool & Ire common 100% ]Ol
I Atlantic Coal & Ice pfd. ... 90 ” 92
j Atla ma Brew ing A* ice Co ..170
I Mlanta National Bank 325
i Broad Riv Gran Corp 25 30 i
do. pfd 70 72
Central Dank Trust Corp. ... 147
Exposition Cotton Mills iso jgs
Fourth National Bank 265 270 ;
Futon National Banki 2" 131
Ga Ry. Ar Flee stamped ... 126 127 I
(4a. Rj & Power Co. common 28 30 '
do Ist pfd 81 85 1
do. 2d pfd .. . . 46 47
Tlillyer 'Trust Companyl2s 127
Lowry National Rank24B 25u
I Realty Trust Company 100 105
Southern Ice common 68 70
< The Security State Bank . 115 120
I Third National Bank. . 230 235
Trust* Company of Georgia _‘is 250
Travelers Bank A- 'Trust C 0... 125 126 1
BONDS.
•Atlanta Gas Light Ist ’s ... 102
Broad Riv Gran. Corp Ist 6s 90 95
I Georgia State 4%5. 1915, 5s 100’-. 101% I
Ga. Rx << Elec Co 55.. . 102% 104 "
Ga Ry. & Elec. ref. 5s t OO 101
Atlanta Consolidated 5s 10:’%
Atlanta ’itx- 3%5. 1913 91 " 92
Atlanta city Is, 1920 98 99
Atlanta <’ity 4%5, 1921 102 103
x- Ex-rights.
NEW YORK PRODUCE MARKET.
NEW YORK. Aug. 14 Wheat steady;
September. 107'n't/108% , spot No 2 red,
nominal in elevator, ami 1.08 f <>. b. Corn
dull. No 2. in elevator, nominal, export
. No nominal, f. o. b.; steamer, nominal ’
Oats easier; natural white. 48<u51, white I
< lipped, 53fa55 Rye dull; No 2, nominal,
l <l. I» New York Barley quiet; malting
< i f Buffalo. Ha\ steadx. good!
to prime. poor to fair, 80. nomi l
nai Flour quieter, spring patents. 5.25(a |
| 5.50; straights. 4.75<a 5.00 clears. 4.65<u
| 1.90: winter patents. ;>.154i5.40: straights.
; 1 .‘-Oh 1 75. clears. 4 255/4.50.
Beef stead* familj 18.00® 18.50. Pork
dull, mess 20.00(6 20.75: family. 20 OOVt
21.25 Lard firm. < it.\ steam. 10 «hio%.
middle West sp"l. 10.90. ’Tallow firm,
<m. m hogshpißls 6%, nominal; country,
in tierces. s%'a 6%.
NEWS AND GOSSIP
Os the Fleecy Staple '
NEW YORK, Aug ’4. Carpenter. Bag
got Co.: Our opinion is unchanged.
This decline has been due largely to
{manipulation, assisted by some recent
1 hedge selling, this market against long
contracts in Liverpool The decline has
been exaggerated Ninety per cent of
•he crop news is verx bullish. Think large
crop impossible. While prices max he
lemporaiilx further depressed, strongly!
favor buying on every decline Believe
j in ultimately mm h higher prices.
The Journal of Commerce says that the
sharp drop in cotton has caused a natu
ral hesitation among goods buyers, but
I hai- a good steady business is reported
by jobbets. The export markets for cot
ton goods are not active. Shipments on
old eiders constitute (he chief feature, and
ihere%ire still many goods due.
Guild. Hubbard. Wentnan Longhi Jan
uary. Schill. Hentz. Schiff»r sold. Free
man. Lee, Johnson. Schill. Riordan bought
December. Rothschild, (’one, Hicks sold.
Lee bought October McElroy. Riordan.
Rothschild sold.
Dallas wires “’Texas Scattered clouds
south and southwest: balance dear
and warm Oklahoma Cloudx . light rain
at Newkirk. balance paril.x cloudx to
dear and cooler
'The bear .just could not resist the temp
tation today, and he put in an appear
ance The result is easilx guessed
The next bureau report will be issued
I Tuesday. September 3. and anticipations
1 are tha* it will he d’ a bullish character.
Hubbard. Craig. Hentz were best buy
ers today <»n the advance.
Some mills were reported to be good
buyers.
Hutton places the condition at 77.7,
against 78 5 last month
Hutton, by states: North Carolina. 81;
South Carolina. 75. Georgia. 77: Alabama.
73. Mississippi. 75; Louisiana. 80; ’Texas.
83. Arkansas, 76. Tennessee. 71: Okla
homa, 82
Following are 11 a m bids: October
II 24. Decern bet 11 32 January 11.23.
March 11.38.
NEW ORLEANS. Aug 14. Hayward X-
Clark: 'The weather map shows partly
cloudy to fair, with some isolated show
ers; .56 at Galveston. Some light show
ers in North Carolina, where rains are
reeded Temperatures are normal In
dications are for partly cloudy in west
Texas. Oklahoma, xxith possibly scattered
showers.
Few scatered clouds in south and south
west Texas, balance clear and warm
Oklahoma, cloudy, threataring at Ponca
City and light ram at Newkirk: balance
partly cloudx to dear.
The New Orleans Ti’mes-1 )emoerat’s
summary says; Again cotton values
’ dipped. 'This time (Jelober in New Or
leans dropped to 11.1*. At that price
support developed and October climbed
to 11.55. The reac tfc n came so suddenly
and was so sharp that even conservatives.
' who had been expecting some cheek to
the decline, were amazed. Southern mills
bought contracts freely. Some shorts took
profits. Some constitutional bulls got in
again at what seemed t<» he the bottom
Scalpers were in their element. When the
smoke had cleared a wax. the contract
market stood verx dose to the previous
day’s dose, while spots at New Orleans
rested 1-16 r below the 12c mark. One
xear ago the local August << ntract •dosed
at 11.99, as against 11.63 yesterday Oc
tober was at 11.08, against 11.46 yester
day. and New (Orleans middling spots al
12c against 11 15-16 c yesterdax Whether
these price comparisons signlfx anything
or not, the trade must judge
The bear sax s the situation in the long
run is as bearish now as it was this time
last xear because, whereas an enormous
requirement in *l9ll-1912 will ultirnatelx
effect an enormous yield, this year the
fact that the mills are not hare of sup
plies offsets any deficit in the x ield of
1912 under that of 1911
Estimated receipts Thursdax;
1912 190
New Orleans 16 to 50 225
Galveston 2.200 to 2.500 3,379
THE WEATHER "
t
CONDITIONS.
1 WASH INtUrON, Aug. 14. Generally
1 j fair weather throughout eountrj east of
| the Mississippi tonight and Thursday, ex
cept that showers and probably warmer
along the gulf coast.
The temperature will be somexvhat
lower tonight in the* lake region and up
per Ohio valle x and 'Thursday in the New
England and middle Atlantic states
GENERAL FORECAST.
Following Is the forecast until 7 p. m
Thursdax :
Georgia Probablx fair tonight and
Thursday. ,
Virginia, North and South Carolina -
Generally fair tonight and 'Thursdax.
Alabama and Mississippi I’robabix fair
tonight and Thursdax
Florida Showers tonight and Friday
Louisiana and Arkansas Unsettled
showers.
Oklahoma Unsettled.
East Texas- Unsettled showers
Uest Texas Unsettled showers
BUTTteR. POULTRY AND EGGS.
I NEW s<>Rl\. Aug 14. f’ressed poultrx
dull; turkeys 14*6 23. chickens Ufa 26.
I fowls ducks 18*6.18%.
Live poultry unsettled; prices nominal
Butter easier; creamery specials 25iz
25%, creamerj extras state dairj
I (tubs) 214125% process specials 24 z >/?4 1 -
Eggs firm: nearby white fancy 31(6 32.
i nearbx brown fancx .54/27. extra firsts
:2 I’ t■■ ." 1 -'u2 I % .
Cheese l rm . whole milk specials 15%f/
16. whole m ’ fancx 15%. skims specials
12%4/13. skim fine 10%4r11%, full skims
74/ 9.
COTTON SEED OIL.
cn/fnn seed on quotations:
I Opening. Closln r
1 Spot 1 *1.364/6
| August . . . .1 6.254/ 6.26 6.424/ 6.43
I September . . . 6 314/ 6.35 6.'64/ 6.47
1 October .... 6.40(66.12 6.174/6.48
November . . . J 6.224/6.24 6.274/6.28
December .... 6.154/6.16 6.194/6.20
January 6 144/6.15 6.184/6.19
February . 6.15(6 6.20 6.214/6.25
Closed very strong; sales 11.600 barrels.
Established 1861
The
LOWRY NATIONAL BANK
OF ATLANTA
I ft.
Designated Depository ",
of the Uni* states
County of Fulton. Atlanta.
Capital . . , 1.000,000.00
Surplus . . , $1,000,000.00
Accounts of Individuals,
Bank and Corporations
Solicited
MEALS RtGEQE
IN LATE SESSION
Market Loses Strength Under
Heavy Selling—Fails to Up
hold Early Gains.
ST. LOUIS CASH QUOTATIONS.
Wiieat No. 2 red 103 4/105
Corn so
( >ats 31 %Co 32
< HICAGO. Aug. 14. -Wheat strong and
% to •%(• higher at the opening with the
bullish advices from the Old world th*
leading influence. Weather in the United
Kingdom was reported as unfavorable for
Harvesting arid threshing. Liverpool was
higher and strong.
' ••in was up as much as % for Sep
u-mber this morning on shorts covering,
but part of this strength wast lost later.
More deferred months were % to %'•_
I igher earlx. but they dropped back to
a low] below the closing of yesterday.
oats acted in sympathy with other
grains
Provisions were again higher under a
good demand from shorts.
W iieat closed % to %c lower nri
weakening of rhe markets in the north
west lack of export demand and weak
ness in coarse grains.
• orn closed %(!/ 7 8C lower Liberal of
fer.ngs and lack of demand c aused the re
cessions.
t'ats were «4/’g lower. Values dropped
after the earlx demand.
Provisions were higher all around on
good demand. Trade was large.
CHICAGO GRAIN MARKET.
i’rev.
, * »pen High. Low. Close. Close.
WHEAT—
Sept !'3 % 93% 82% 93 93%
Dec. 93 % 93% 92% 92% 93
Max 96% 96% 95% 96% 95%
CORN
Sept 71% 71% 70 70% 71
s+%
Ma' 54\ .->3% 531.4 54-">,
('A 1 S
Sept 31’. 31’, 31?, 31=, 31\
31’, 33’,- 33'. 32>, 32\
Ma.' 31’. 35, 3!', ;',4Sf, 34’,
PORK
s l’t 1" 1X.12U 15.04',2 15.05 IS.OO
Oct IX 17'.., 18.20 18.07'j 18.12 UlB 05
lan IS.BO 18.57 U 18.72 V. 18.80 ' IS 77U
LARD- ‘ "
Spt 10.55 10 S7U 10.52 S 10.85 10.77 U
Oct 10.9::', HI. 95 10.90 10.95 10 S7U
lan 10.70 10.70 10.57 U 10.70 10.55
i: i P.S
spt 10,87'... 10.90 io.8;:l 2 10 87V> 10 S 3 %
I" •'■.■> io 95 10.85 10 87U 10.80
.lan 9 •>.'. H'.oo 9.92'j 9.SO
CHICAGO CASH QUOTATIONS.
i'HH'AGI) Aug It Wheat. Xo, 2 red
1.03 ft 1,05; Xo 3 red. 96ft 1.03; Xu. 2 hard
">nter. 93t 2 iii96, Xo. 3 hard winter. 92©
91';; Xe I Xorthern spring. 1.00®T05
No. 2 Xorthern spring. 97ft 1.03; Xo. 3.
9'ft 1.00.
Corn Xi*. 2. 76®76V>; No. 2 white, 771*
2'7.8; Nil 2 vellow. 77' 2 ft7B; No. 3. 75 a -,ra
7'2 Xu. 3 white. 77ft 77\: No. 3 yellow
I_.', Co 77 Is . No. 4, 74® 75Mt: No. 4 white
75' 2 ft76 No. 1 yellow. 75* 2 ft76 3 ,.
• iHts. No. 2. 32; No. 2 white, new 32',4*
137 , No 3 while, old. 32 a ,4133; new.
, '"32. No. I white, new. 30' 2 : standard,
i 1 old, 33; new. 32%.
CHICAGO CAR LOTS.
Following are receipts for Wednesday
and estiniated receints tor Thursday:
■I Wed n'day. I Thursday.
Wheal 275 I 155
''orn . 150 127
Oats . 278 I 137
Hogs . 25.000 ' 17,000
f ~~———
LIVERPOOL GRAIN MARKET.
W heat opened ' 2 d higher: at 1:30 p. tn.
"as -,,<1 higher for December and ’,d
higher for < n tuber. Closed ",<i higher.
• 'orn opened > 4 d higher; at 1:30 p. no.
was -nd higher for December and ? 4 d
higher for .September Closed AJd to %d
higher.
PRIMARY MOVEMENT.
I r 1912 i t»i»
; Reeeiids 1 1.346,000 867.000
Shipments 1,283,000 587.000
CORN— | |
Receipts 419.000 587,000*
Sh]|ini<-nts_ 377.000 325.000
BRADSTREET S VISIBLE SUPPLY.
!• oil' wing shows the weekly Bradstreet's
visible supply of grain for the week:
Wheat decreased 7.731.000 bushels.
Corn increased 364.000 bushels,
f lats increased 31,000 bushels.
LIVE STOCK MARKET.
CHICAGO. \ug. 14 -Hogs—Receipts
25,000. Market strong. Mixed and butch
ers $7.60® 8.60. geed heavy $7.80©8.40.
rough heavy $7.50©.7.80. light 57.85©8.60.
pigs <6.80ft8.00. bulk 87.85® S. 45.
Cattle Receipts 20.000. Market stead.'
to strong Beeves $6.60® 10.40. cows and
heifers $2.50©8.40. Stockers and feeders
$4 50ft 7.15 Texans S6.SOftST4O. calves $6.50
ft 8.10.
Sheep Receipts 20.000. Market weak
Native and Western $3.25©4.50, lambs
$4.60© 7.40
NEW YORK GROCERIES.
NI'IW YORK. Aug 14.—Coffee easy;
No 7 Rio spot 14 Rice firm; domestic
ordinary io prime 4‘ 2 ©5%. Molasses
steady New Orleans open kettle 36®50.
Sugar ra v steady; centrifugal 4.05. mus
i . ' ado 3 55. molasses sugar 3.30. refined
dull, standard granulated 5.05. cut loa f
5.50. ■ rushed i 70. mold A 5.35. cubes 5.25.
powdered 5.10. diamond A 5. confectioners
\ 1 85. N. 1 4.85, No. 2 4 SO, No. 3 • 75,
No I 470
15
