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FACT Si GOSSIP
• IN MONEY MARTS
Why Is It There Are More
Lawyers in Congress Than
Other Professions?
4 By B. C. FORBES.
X'E\A YORK. Aug. 14. America is
lawyer-ridden. The be-all and end-all, the
Alpha and Omega of government is not
to grind out laws by the thousands, but
to 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—
in a democracy—laws should be as few
and simple as possible, not as many and
as intricate as legal ingenuity can con-
* trive.
Think of 35,000—thirty-five thousand
laws being passed during one session!
■ « •
I have looked up the records, and I
find that lawyers have constituted from
, 65 to 70 per cent of our congressmen dur-
ing quite a number of years. Take the
Fiftieth] congress. It was composed of 263
lawyers. 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
couid 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
ihe 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 politics as a game to be
. played, not honestly, honorably and
above-board, but by stealth, by subter
fuge. by corruption. I’nfortunately, too
many politicians did play dishonestly, did
pay more attention to their own purses
than to principles, and did drag law-mak
ing into the mire. But—also unfortunate
ly—men of big business were by no means
blameless, for not infrequently they were
parties to bribery, to underhandedness
to crooked 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 letters
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 Dogs. The rail
' roads for the most part have stopped it.
Standard Oil, having been ‘dissolved.’
may riot find occasion to spend so much
for legal—or illegal- services. Yellow
Dogs, it has been demonstrated, are apt
to be pulled from the darkness of their
subterranean kennels and placed in the
limelight.
• * »
Politics is becoming more respectable.
This being so, may we not hope that
hereafter business, agriculture, education
I and other lines of activity will contribute
a larger quota of legislators?
» • •
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
(ear than any other country passes in a
generation Some of our statutes are not
1 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 It 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
t congress. Federal and state, were devoted,
not to making more laws, but to making
bonfires of most of the old ones, and con
solidating, classifying and remodeling the
sensible and necessary ones, the country
would be much better off. It Is criminal
tn pass statutes that can not possibly be
enforced, for thereby the innocent are
made lawbreakers
• •
Instead of 70 lawyers in every 100 leg-
Going Abroad?
YOU WILL SAVE TIME. AVOID
delays, have your money always
safe, ami. practically enjoy the many
benefits of having a bank account in
every country in which you may travel,
if you carry with you a Letter of Credit
or Travelers’ Cheque. It will enable you
to know exactly the relative worth of
your money i n foreign countries, and en
able yon to keep an accurate account of
your expend!tures.
And yet the cost is very small. A
mere nothing compared with the innu
merable benefits they afford.
We will be glad to have you come in
and talk the matter over with us.
Atlanta National Bank
The Oldest National Bank
in the Cotton States.
DARBY ADV.. ’
Sam Jones Tabernacle Rebaptized
FACTIONS HEAL BREACH
CARTERSVILLE, GA.. Aug. 14.—1 n
the closing hours of one of the most re
markable series of religious revivals
ever known in Georgia, the famous
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.
on 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 the Alabama evangelist came
to Cartersville to open the tabernacle,
which had been closed to evangelists
since Rev. Walt Holcomb’s famous faux
pas and police coujt experience five
years ago. he found that Cartersville
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 par
ishioners declared that the regular
churches and ministers'were ample to
take care of the religious situation in
Cartersville.
Jones and Dr. Munhall went along
preaching three times a day. They drew
good audiences, and undoubtedly arous-
Cotton Bill Up j
: To Taft to Sign •
• •
• WASHINGTON. Aug. 14.—The •
• senate todav passed the cotton bill •
• as it came from the house by a ®
• vote of 36 to 19. This proposes •
• reduction of about 40 per cent in •
• the present schedules. •
••••••••••••••••••••••••a*
POLICE TO AID AT
WSLBL
Men Who Were Under the
Former Chief Will Act as
His Pallbearers.
The body of Captain W. P. Manly,
former chief of police, who died at
Grady hospital last night, will be borne
to the grave at Oakland cemetery to
morrow by men who once received or
ders from him. of the police
department will act as pall bearers.
They "ill take charge of the casket
during the funeral exercises at 10
o’clock in Greenberg & Bond's chapel
and will escort it to the cemetery.
Captain Manly was a retired officer
when he died. He was one of the first
to derive benefits from the city ordi
nance providing pensions for superan
nuated members of the department. He
retired last November and lived with
his family at Austell.
For four years he was chief of police
in Atlanta. In 1901 he was retired. He
continued in the service and recently
was wagon officer, and at the end of
his connection with the department
I bad served 35 years.
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
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.
THE ATLANTA GEORGIAN AND NEWS. WEDNESDAY. AUGUST 14. 1912.
ed deep religious fervor. Nevertheless,
the situation among the religious peo- i
pie in the city remained tense.
On Wednesday, however, the revival- i
ists received a striking accession in ;
Rev. J. M. Long, pastor of the First
Baptist church, who. at one of the ,
meetings, publicly approved the evan- I
gelistlc work.
Sunday morning and afternoon the;
great edifice was crowded to its capac- I
ity. More than 2.000 people from every ■
part of north Georgia attended. At- i
lanta sent a delegation of more than a I
hundred. The great grove fringing the
tabernacle was crowded with convey- !
ances of the rural folks.
At the end of the sermon. Rev. !
George F. Brown took the pulpit, sta
tioned ushers at the exits, and called I
for a personal collection for the evan- j
gelists. He was aided by W. D. Up- |
shaw, of Atlanta, editor of The Golden ,
Age. who called upon the congregation i
to join in "rechrlstening" the tabor- 1
nacle. Mrs. Sam Jones led the sub- i
scriptions with $25. Others chimed in •
with sums of $2 to $25. so that more I
than SSOO had been collected before the
ushers began passing the hats.
The great audience—including all th«
pastors —arose to vote aye to the prop
osition of inviting Bob 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.
WOOL BILL VOTE
PLUSESMN
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 j
Democratic house of representatives I
for passing the LaFollette-Underwood l
woo! 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 1
bill. 1 think the action of the house
was entirely justifiable. I suppose the
bill has little chance in the senate.”
To a Sunday school delegation of
about 100 from Allentown. Pa„ who vis- I
ited him today. Governor Wilson told I
the Pennsylvanians how kindly he felt |
toward them for their state’s support In i
the Baltimore convention in the face of
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
there is no longer a division of opinion
among Americans as to what, they want.
They want the state, by which I mean
the entire Union of states, to lend it
self to the service of humanity. In one
sense the function of politics is the |
same function that you represent. It is I
the function of doing whatever legis- j
lation can do to see that justice and j
righteousness prevail on the earth. The '
disappointing thing to every generation ;
is that it can make so little progress j
to.ward that goal, that idea, but we|
ought not let ourselves free from the!
obligation because it is hard to fulfill.”
NEW YORK COFFEE MARKET.
Coffee quotations:
January 12.62®12764’12.58®12.'60
February 12.60012.64 12.63012 65
March 112.68 12.65012.66 I
April 12.67'0 12 68
May 12.68 I
•Time 12.654? 1.2.70 12.65(1/12.67 I
•luly 12.65® 12.70 12.61012 62 .
August 12.35
September 112.45012.55 ,
October 12.504712.60 12.56012 57
November 12.55« t 111.60-12.51 ®l2 53
■ e_r._ .... 12.55® 12.65 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 1.200, 5.75
@6.75; good steers SOO to 1 non 5.2505.75;
medium to good steers. 700 to 850. 4.75®
5.25: good to choice beef cows, 800 to 900
4.50® 4.7smedium to go,-al beef cows, 700
to 800. 3.754/ 4.25; good to choice heifers,
750 to 850, 4.000 4.75: medium to good
heifers. 650 to 750. 3.75@4.50.
The above represent ruling prices on
good quality of beef cattle Inferior
grades and dairy types selling lowe>
Mixed common steers, if fat, 700 io 800.
4 000 4.60: mixed common cows, if fa:. 600
to 800, 3.50® 4.00: mixed common bunches
to fair. 600 to 800. 2.754)3.50; good b-iu-li
er hulls. 3.000 3.75.
Prime hogs. 1.60 to 200 average 7 75®
8.25; good butcher hogs. 140 tn iso. 7.50®.
8.00: good butcher pigs. 100 to 140.' 7 000
7.50; light pigs. 80 to 100. 6.500 700 heave
rough hogs. 200 to 1:50. 7.000 7.50
Above quotations apply to corn-fed i
hogs. Mash and peanut fattened hogs I
l®l%c lower
Good run of medium cattle in yard this’
week, although the supply of strictly good
beef is short Several mixed loads of
Tennessee cattle were among the arrivals)
first of week. A few good steers were
selected from these ears and brought the!
top prices for this week.
Grass cattle are coming mote plentiful l
from local points: quality not ver up to 1
standard. Owing to heavy rainfall this |
season the grass has conmined too much
moisture and grazing cattle are not \et
fat '
.Market is on«idered strong to % higher 1
on better grades and about steady on ’
medium stuff. Light and common cattle
are slow sale at % ® % under quotation of 1
a week ago
Lamb market about steady, supply I
normal and quality continues fairly good I
Hog receipts moderate: market strong 1
and higher.
It’s like getting money f’;,m home fori
it's money easily made ov reading using
and answering the Want Ads in The
Georgian Few people realize the many
opportunities offered them among the '
small ads It's a good sign that if the pen. I
pie did not get results from the Want Ads 1
of The Georgian that there would not be |
so many of them ts. for nothing else, sit |
down and cheuk off Ihe ads that appeal to
you You will be astonished bow manv of I
iliem mean irnwi to you The Want Ad i
pages are bargain counters In every Hoe ;
The ads are so conveniently arranged that
they an be picked out very easy
SOUTHERN MILLS
ACTIVEINGOW
I ’ •
Textile Interests Among Best
Buyers—Covering by Shorts
Causes Good Advance.
1
I ~
NEW YORK, Aug. 14. Finn cables
caused the cotton market today to open
unchanged io 2 points better than Tues- !•
I day's closing prices. After the call the .
market weakened on favorable weathers
; conditions, which caused an unloading
' movement by longs, and prices had a ten
dency to sag lower. Most active posi
t:<»ns declined aggregate of 6 to 11 points
I from the early prices.
Shorts covering during the late fore
[ noon and afternoon trading gave the mar-
I ket a steady tone, and prices quickly de
veloped an upward movement and the
[entire early decline was soon gained. The j
i December option displayed the most I
i strength. This option rose from 11.28 to!
] 11.58. October and January followed the
j advance moderately. Some Southern mills
I were reported to have put in their ap
! pea rance and were among the best buy
j era throughout the day’s trading.
Dutton Ar Co. issued their monthly re
port today at noon on the condition of
the growing crop, placing their flgui-es
at 77.7. against 78.5 last month, showing
a decline in conditions of .08 per cent. 1
At the close the market was steady, I
with prices showing a net advance of 17
to 20 points over the final quotations of
T uesday.
RANGE OF NEW YORK F U T_U RC 3.
jjJ I| J | ilj 11
Aug. : • 11.36-38111.19-21
l-ept. 11.12 11.12 11.12111.1.2 1 1.36-38’11.19-21
Oct. 11.37 1 1.53 11.20:11.52 11.52-53 11.35-86
Nov. 111.56111.561H.56111.5611.54-56111.37-39 I
Dec. 11.39111.61:11.28’1 1.60111.5j-60ill. 39-42
•lan. 11.35'11.57 11.18 1 1.54111.53-54 11.33-35
■’ P V 111.59-61 111.40-43
Meh. 1.1.49-11.65’ 11.33111.6511 1.65-66 J 1.47-48
May 11.58 11.75 11,45 11,75’11.73-75 11.56-57
Closed steady.
Liverpool cables were tine 10%®12%
points higher. Opened firm at U@l3
points advance. At 12:15 p. m. Hie mar
ket was steady at a net advance of 14@16
points. 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 5®7% points
over the final figures of Tuesday.
RANGE IN LIVERPOOL FUTURES.
Futures opened firm.
Range. 2 P. M. Close. Prev.
Opening. Prev.
, Aug. . . . 6.48 -6.50 6.51 6.42% 6.36
, Aug.-Sept 6.39 -6.42% 6.-14 6.35 ’ 6.27' a
Sept.-Oct. 6.26 -6.30 6.31 6.22% 6.17%
I Oct.-Nov. 6.22 -6.25% 6.26% 6.17% 6.10%
I Nov.-Dec. 6.17%-6.20% 6.21 6.12 6.05
Dec.-Jan. 6.17 -6.18% 6.19% 6.12 6.06
■ Jan.-Feb. 6.18 -6.21 6.21% 6.12%
Feb.-Mch. 6.18 -6.21% 6.22% 6.13%
Meh.-Apr. 6.20 -6.7*5% 6.23 6.14% 6.08%
.Apr.-Muy 6.21'4-6.23% 6.25 6.15% 6.09%
'May-June 6.23 -6.22 6.25% 6.16%
June-July 6.22 -6.23% 6.16
Closed steady.
HAYWARD & CLARK'S
DAILY COTTON LETTER
j NEW ORLEANS. Aug. 14. —The English I
j market fully met the recovery on our side ■
iand, according to the above cable, ap- ,
I pears ready for further recovery in ease I
[ crop news should become unfavorable. |
Weather developments over night were,
however, distinctly favorable. Tempera - |
tures are normal throughout the bell :
and the map shows some precipitation in I
extreme west Texas and .56 at Galveston, j
also some precipitation in North Carolina 1
where moisture Is needed. Indications are
for unsettled, rainy weather coming in I
Texas and Oklahoma, partly cloudy: pos
sibly some isolated showers elsewhere,
followed by generally unsettled, showery
by Friday night.
in regard to the market the first effect
of rains in west and south Texas would
probably be sentimentally bearish, as it
would relieve the long expectation of rain 1
there, but the second effect wotild be bull
ish. as rains would interfere with picking
j and the movement and the trade depends
I on south Texas for its August cotton.
Furthermore, a wet spell in the central
j and eastern states would not be welcomed
outside of North Carolina and might lead
j to Insect complaints or damage and might
! give rise to lhe idea of delay in crop
I movement. The market has, therefore,
I much to consider in regard to weather.
The market opened with unchanged fig- |
I ures dropped about 12 (Joints on the gov
ernment forecast of showery weather in >
(west Texas, but soon recovered There;
was a better feeling and good buying on
dips probably coming from trade sources.
RANGE IN NEW ORLEANS FUTURES,
t u «i Iwil ? 5?
5 'A O "" I ?■, f--
D r u? Jta j u
Aug, f 1.... ...k ,'llt.Bß liiT63
Sept. 1 ’ 11.76 ’11.52
Oct. 11.46 11.73 11.35 11.70 1 1.70-71 11.46-17
I Nov. ! 1 11.70-72,1146-47 1
I Dec. 11.48’11.74 11.35 11.71’11.71 -72’11.46- 17 I
1 .lan. 11.50 1 1.77 1.1.39 1 1.7-1 11.71-75 11.49-50 I
I Feb 11.76-78,11.51-53 1
I Mell. 11.60 11.87 11.51 11.86 11.85-86 11.59-60
Apr 11.88-9011.61-63 1
•'!_ J ' 11 9511.62 11.95 1L95J16J11 .69-_7O
Closed firm.
SPOT COTTON MARKET,
Atlanta, nominal: middling 124.
New Orleans, steady; middling 11 13-16.
New York, quiet; middling 12c.
Boston, quiet; middling 12c.
Philadelphia, quiet: middling 13.15.
Liverpool, firm; middling 6.72 d.
Augusta, quiet; middling 124
Savannah, steady; middling 114
Mobile, nominal.
Galveston, quiet; middling 124.
Norfolk, steady; middling 12’ 4
Wilmington, nominal.
Little Rock, steady: middling 124.
Charleston, nominal.
Baltimore, nominal; middling 12%.
Memphis, quiet; middling 12c.
St. Louis, dull; middling 1?4-
Houston, steady; middling 12c.
Louisville, firm; middling 13c.
COTTON MARKET OPINIONS.
Bailey A Montgomery. "The situation
is mih Ii that a conservative policy should
be adopted n following the market, either
in an upward or further downward direc
-1 ion.”
Logan A- Bryan; “It is well to consider)
[the oversold condition of the market and j
• the uncertainty that yet attends a. late
cron before selling cottone at this level.”
Miller A Co.; “Purchases made on weak
I spots Is the right thing to do."
Morris H. Rothschild A- Co.: "We think
a good demand will be found slightly
| above 11 cents.”
PORT RECEIPTS.
The following table shows receipts at
lhe ports today, compared with the same
day last year:
_JLI 19,:
I New’ Orieana ... 375 734
I Galveston 2.805 7.594
I Mobile I 1
[Savannah 445 963
! Charleston 3 ...
; Norfolk ' 577 5
• ■ • • J° 44 _
* Total ". . ’ 4,013 9 341
interior movement,
l 191 1 i mt
1 Houston 4.879 3.41 1
I Augusta !-!!• 1
' Memphis 65 301
| St. Louis 171 233
< 'inclnnati 227 2
I Total 5.471 3,951
METAL MARKET,
I NEW YORK, Aug 14 The metal ex-
If’ang. whs fairly active Copper hi»oi to
j October. 17"5'a17 5O spelter. 6.!>0'h7,00;
I hod, 1 lO'ottiO. tins
STOCK MARKET
ON HIGH LEVEL
Steel and Industrial Issues
Show Added Strength—Fa
vorable Crop Outlook.
By CHARLES W. STORM*
NEV\ YORK. Aug. 14.—Canadian Pa
; eific. with ar. u.ivance of 2 points, showed
i the greatest amount of gain at tne open
ing of the stock market at the opening
today, although strength pervaded the
entire list and a number of issues rose
sharply.
Nearly nil the price changes during the
| first fifteen minutes were toward higher
j levels witli some issues selling at the
| highest figures of the present movement,
i Persistent buying of the Eries was again
i in evidence, the common selling at 37%
against 37% at the close last night and
the preferred shewing a gain of % upon i
the first sale. Canadian Pacific’s strength I
was chiefly due to a bull movement in I
that issue, in London. Good buying was I
noted here also in Reading and Lehigh
Valley. Lehigh Valley gained % and
Leading 12
Among the other advances in the in
itial trailing were United States Steel, %;
i Amalgamated Copper. %; Smelting. %;
I Baltimore and Ohio, %: Atchison. %, and
Inion Pacific, %.
Buying in New York market seemed to
come from a number of sources. The
curb was firm. Americans In London
were steady at improvements over last
night's closing.
The upward 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
i motive and the Pittsburg Coal issues
were active anad strong.
After a period of quietness right after
midday a strong tone again developed in
the market in the late afternoon trading.
Vigorous advances were made in a num
ber of issues. U. S. Steel common gained
1 point, going to 74
Stocks closed strong
Government bonds unchanged. Other
bonds steady.
Stock quotations:
I I ILastlClos. Prev
STOCKS— IHigh|Low.|Sale.l Bld. Cl’s*
Amal. Copper.l 46 f 85% 85%; 85% 85%
Am. Ice Sec... ... J ... J .... 26 26
Am. Sug Ref.l29 128% 129 '128% 128%
Am. Smelting 37% 86%’ 86% 86% 86
Am. Locomo... 45%! 45 1 45%! 45% 44%
Am. Car Fdy,.j 61%l 60%! 61%1 61 60%
Am. Cot. 0i1...! .. . J ... .1 ... J 53% 53%
Amer. Woolen I . .. 27 37
Anaconda .... 43% 43% 43%' 43% 43%
Atchison 110%|110 .110% 110% 109%
A. C. 1 148%'147%H47'4 147%’147%
Amer. Can ... 41%' 4'l%| 41% 41 41
do. pref . . ... 119% 119%
Am. Heet Sug. 71% 71 1 71% 71% 70%
Am. T. and T.’146% 146 1146% 146 145%
Am. Agricttl. . .... 60% 60%
Beth. Steel ... 40 38 ;40 39% 38
B. It. 'l' ... . 93% 92% 93% 93 92%
B. and O :109%i109 1109 1091; 108%
Can. Pacific .. 281-% 281 28! 280% 279%
Corn Products j 16 1 15% 15%- 15% 15
C. and 0 83% 82% 83%: 83 82
xConsol. Gas . 147%;147 147%i147% 148%
Cen. Leather .. 30%' 29%, 30 29%: 29%
Colo. F. and I. 32%l 31%i 32%l 32% 31%
I Colo. Southern .... .... 40 - 40
ID. and H 1 169 1169
I Den. and R. G. ■ ....’ ... | . . i 22%' 22
• Distil. Secur. . 33% 33% 33% 33% 33%
Erie 38% 37%. 28% 38%!37%
do. pref. .. 55%: 55% 55% 55% 55%
Gen. Electric |183%1183% 183% 183'4’183
| Goldfield Cons 3% 3% 3%l 3% 3%
G. Western .. 18%: 18% 18% .. .. 18%
G. North., pfd. 143%.1421,. 143% 14*%,142%
|G. North. Ore.j 46%l 44%: 46%l 46%; 44
i Int. Harvester I ...J ...J .... 123% 123%
| 11). Central ~T 31 131%'131%; ~!.1131%
Interboro I 20%; 20%| 20% 20%, 20%
do, pref. ..I 60%' 60%- 60%! 60%: 60
| lowa Central 10 ,11
IK. C. Southern 27 27 '27 27 ' 27%
K and ’l’ 29%. 29% 29% 29%) 29%
do, pref. .. ’64 '64 64 -64 '62
Vallet . • . 173% 172% 173% 173% 172%
L. and N . . 170 t69',i 169% 169% 168%
Mo. Pacific . . 39%: 38% 39% 39% 38%
N. Y. Central 118%!H8 118% 118% 117%
Northwest.. .1144 143%;143% 143%J42%
Nat. Lead . . 60 I 59%! 60 59%| 59
N. and W.. . . 118% 'llß% 118% 1181-118%
No. Pacific . . 131% 1.31 131 131% 131%
O. and W . . 33%' 33%: 33% 33% 32%
Penn.. . 125 ,124% 125 124%-124'j
Pacific Mail .] 32%’ 32% 32% 32 I 31%
P. Gas Co. . .' ... 118 '/j 117%
I’. Steel Car . 37% 37", 37% 37% 37
; Reading . 172% 172'4 172% 172% 172%
[ Rock Islan/l 2/% 27% 27% 27% 26%
do. pM ...... 53 1 52
■R. I. anti Steel 28% 27%' 28% 28% 27%
i do. pfd.. . . 90% 89% 90%' 90% 8:1%
S.-Sheffield. .... .... ....: 58%: 56%
So. Pacific . .1131,1113 113% 113% 113
So. Railway . 30%i 30 30% 30% 30
do. pfd.. . 81 % 80%' 81 81 80%
St. Paul. . . 109 108% 108% 108% 108
Tenn. Copper 43% 42% 43% 42% 42%
Texas Pacific . 22% 22% 22% 22%. 2'!%
Third Avenue ' I ....I 38 | 35%
I’nion Pacific 174% 174 174 % 174% IT.':-,
I' S. Rubber . 53 52" n 53 . .. 52%
I’tah /’oppel- 63% 63%’ 63% 63% 63
I'. S. Steel . . 74% 72% 74% 74 72%
. do. pfd.. . . 113'4 113 113%’113% 112%
I v.-c Chem.. 48% 48% 48% 48% 48%
’W. I’nion .. .1 83% 82 83%' 83%l 81%
I Wabash . . . i .... 4% 4%
! do. pfd. . . ... .' ... J .... 14% 14%
IW. Electric . . 88 87 ’BB ! 87% 87%
Wis Central . I I ... .1 61 I 60
W, Maryland .' . ...' ...J . ..! 56% 57
Total sales, 610,000 shares x Ex-div)
idend. 1% per cent.
MINING STOCKS.
BOSTON. Aug 74.—Opening Old <’ol
cn> 11. Santa Fe 3%. Shannon 17'-,
Mayflower 14%.
LOCAL STOCKS AND BONDS.
Bid. Asked
Atlanta 4 West Point R R . 140 145
American Nat. Bank 220 225
Atlantic Coal Sr Ice common 100% 101
Atlantic Coal 4- Ice pfd 90 yj
Atlanta Brewing & Ics C 0... 170
Atlanta National Bank 325
Broad Rlv Gran Corp 25 30
do. pfd 70 72
Central Bank 4 Trust Corp. ... 147
Exnosltto’ - Cotton Mills 150 jgs
Fourth National Bank 265 270
Futon National Bank /27 jsj
Ga Ry. A Flee s'amped. . 126 127
Ga. Ry. 4 Power Co common 28 30
' do. Ist pfd 81 85
i du. 20 pfd 46 47
: Hlllver Trust Company 125 J 97
Lowrv National Bank 248 25,1
Realtv Trust Company 100 105
Southern Ice common 68 70
The Security State Bank... 11,5 120
Third National Bank 230 235
Trust Company of Georgia 245 250
Travelers Bank 4- Trust C 0... 125 126
BONDS.
Atlanta Gas Light Ist ’» 102
Broad Rlv Gran. Corp Ist 6s 90 95
Georgia State 4%5. 1915, ss. 100% 101 %
Ga Ry a Klee. Co. 6e 102% 104
Ga. Ry. 4- Elec, ref 5s ,00 101
Atlanta Consolidated 5s 102%
Atlanta City 3%5. 1913 91 92
Atlanta Citv 4s, 1920 98 9s
Atlanta City 4%5, 1921 102 103
x-Ex-rights.
NEW YORK PRODUCE MARKET.
NEW YORK. Aug. 11 Wheat steady:
September, 107 I «'a 108 % . spot No 2 red,
nominal in elevator, and 1.08 f. o, b. Corn
idttll; No. 2, in elevator, nominal: export
No. .’, nominal, f. <>. b.: steamer, nominal.
Oats easier; natural white. 48® 51: white
clipped. 53®55. Rye dull: No. 2. nominal,
f n b. New York Barley quiet: malting
70®80 c. I. t Buffalo. Hay steady; good
to prime. 95® 1.35; poor to fair, 80, nomi
nal Flour quieter; spring patents. 5.25®
5.50 straights. 4 75® 5 00: clears. 4 65®
4.90: winter patents. 5.15®6.40; straights,
4 50® '• 75. clears. I 25® 450
Beef steadi . famil ~ 16 00® 18 50 Pork
• lull: mess. 20.00 ®2O 75; family. 20 00®
21 25. I ard flrm; cit.' steam. 10-'%®lll0 1 -.
middi* W, st spot 10 90. Tallow firm,
di', in hogsheads. 6%, nominal, country,
111 tiercca, 5%®6%.
NEWS AND GOSSIP,
Os the Fleecy Staple i
NEW YORK. Aug. 14.—Carpenter. Bag
got 4- Co.: our opinion is unchanged.
This decline lias been due largely to
manipulation, assisted by some recent
hedge selling, this market against long
contracts in Liverpool. The decline has
been exaggerated Ninety per cent of
tlie crop news is very bullish. Think large
crop Impossible. While prices may be
temporarily further depressed, strongly
favor buying on ever) decline. Believe
in ultimately much higher prices.
The Journal of Commerce says that the
sharp drop in cotton has caused a natu
ral hesitation among goods buyers, but
that a good steady business Is reported
by jobbers. The export markets for cot
ton goods are not active. Shipments on
old orders constitute the chief feature, and
there are still many goods due.
Guild. Hubbard. Wenman bought lan
uary. Schill, Hentz. Schiffer sold. Free
man, Lee. Johnson, Schill, Riordan bought
December. Rothschild, Cone. Hicks sold.
Lee bought October. McElroy. Riordan,
Rothschild sold.
Dallas wires: "Texas—Scattered clouds
soutli and southwest: balance clear
and warm Oklahoma—Cloudy; light rain
nt Newkirk; balance partly cloudy to
clear and cooler.”
The bear just could not resist tlie temp
tation today, and lie pul in an appear
ance. The result is easily guessed.
The next: bureau report will he issued
Tuesday. September 3. anti anticipations
are that it will he of a bullish character.
Hubbard. Craig. Hentz were best buy
ers today on 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
11.24. December 11.32. January 11.23,
March 11.38.
NEW ORLEANS, Aug. 14 —Hayward 4
Clark: The weather map shows partly
cloudy to fair, wit® 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, with possibly scattered
showers.
Few scatered clouds in south and south
west Texas, balance clear and warm.
Oklahoma, cloudy, threatening at Ponca
City and light rain at Newkirk; balance
partly cloudy to clear.
The New Orleans Times-Democrat's
summary says: Again cotton values
dipped. This time October in New Or
leans dropped to 11.15. At that price
support developed and October cllmbe/l
to 11.55. The reaction came so suddenly
and was so sharp that even conservatives,
who had been expecting some check to
the decline, were amazed. Southern mills
bought contracts freely Some shorts took
profits. Some constitutional bulls got In
again at what seemed to be the bottom.
Scalpers were In their element. When the
smoke had cleared away, the contract
market stood very close to the previous
day's close, while spots at New Orleans
rested 1-16 c below the 12c mark. One
year ago tlie local August contract closed
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 yesterday. Whether
these price comparisons signify anything
or not. the trade must judge.
The bear says the situation in the long
run is as bearish now as it wss this time
last year because, whereas an enormous
requirement In 1911-1912 will ultimately
effect an enormous yield, this year the
fact that the mills are not bare of sup
plies offsets any deficit in the yield of
1912 under that, of 1911.
Estimated receipts Thursday:
, 1912. 1911.
New Orleans 16 to 50 225
Galveston 2,200 to 2,500 3,379
PthTweather ”
L
CONDITIONS.
WASHINGTON. Aug. 14.—Generally
fair weather throughout country east .of
the Mississippi tonight and Thursday, ex
cept that showers and probably warmer
along the gulf coast.
The temperature will be somewhat
lower tonight in tlie lake region and up
per Ohio valley and Thursday in the New
England and middle Atlantic states
GENERAL FORECAST.
Following is the forecast until 7 p. m
Thursday:
Georgia —Probably fair tonight and
Thursday.
Virginia. North ami Soutli Carolina
Generally fair tonight and Thursday.
Alabama and Mississippi—Probably fair
tonight and Thursday.
Florida—Showers tonight and Friday
Louisiana and Arkansas—Unsettled
showers.
Oklahoma -Unsettled.
East Texas—Unsettled showers.
West Texas- Unsettled showers.
BUTTER. POULTRY AND EGGS.
NEW YORK. Aug 14. Dressed poultry
dull: turkeys 14®23. chickens 14®26.
fowls !2®20. ducks IS® 18%
Live poultry unsettled: prices nominal.
Butter easier: creamery specials 25®
25%. creamery extras 26®26%, state dairy
tfubsi 21®25%, process specials 24®’24%.
Eggs firm; nearby white fancy 31®32,
nearby brown fancy 25027, extra firsts
24026. firsts 20%®21%.
Cheese firm; whole milk specials 15%@
16. whole milk fanev 15%. skims specials
13%®13. skims fine t0%®11%. full skims
7@9.
COTTON SEED OIL.
r-Q/ton seed oil quotations:
I Opening. 1 Closlng.
Spot 1 ' 6.3606 60
August 16.250 6.26 8.4206.43
September . . . .! 6.340 6.35 - 6 46'3 6.47
October ..... 6.4006.42 ' 6.4706.48
November .... 8.2206.24 ‘ 6.2706.28
December .... 6.1506.16 6.19&6.20
January 6 1406.15 ' 6.1806.19
February . . . . . 6.1506.20 I *.3t®5.25
I’loseil v<-r' strong; Mies 11,800 barrels.
Established 1861
The
LOWRY NATIONAL BANK
OF ATLANTA
Designated Depository
of the United States
County of Fulton, City of Atlanta.
Capital . . . $1,000,000.00
Surplus . . . $1,000,000.00
zXccounts of Individuals,
Bank and Corporations
Solicited
CEREALS RECEDE
IN LATE SESSION
Market Loses Strength Under
Heavy Selling—Fails to Up
hold Early Gains.
ST. LOUIS CASH QUOTATIONS.
Wheat No. 2 red 103 @165
Corn sn “
CHICAGO, Aug. 14.—Wheat strong arid
% to %c higher at the opening with the
bullish advices from the Old world thr
leading influence. Weather in the United
Kingdom was reported as unfavorable for
harvesting and threshing Liverpool was
higher and strong.
Corn was up as much as % for Sep
tember this morning on shorts covering,
but part of this strength wast lost later
More deferred months were % to %c
liighcr early, hut they dropped back to
a level below the closing of yesterdav
Oats acted in sympathy with other
grains.
Provisions were again higher under a
good demand from snorts.
Wheat closed % to %c lower on
weakening of the markets in the north
west. lack of export demand and weak-1
ness in coarse grains
Corn closed %@ %c lower Liberal of
ferings and lack of demand caused the re
cessions.
Oats were ’.0% lower. Values dropped’
after the early demand.
Provisions were higher all around on
good demand. Trade was large
CHICAGO GRAIN MARKIT.
„ FTSV.
Open. High. Low. Close. Close.
WHEAT—
Sept. 93% 93% 83% 93 93%
Dec. 93% 93% 92% 92% 93
May 96% 96% 95% 96% 95%
CORN— 1
Sept. 71% 71% 70 70% 71
Dec. 55 55% 53% 54 54%
OAT8 6 -' 54 ’’ 53%
Sept. 31% 31% 81% 31% 31 a.
Dec 32% 32% 32% 32% 32%
PORK- 4 35 3 *' 4 S4 ’‘
Spt 18.10 18.12% 18.04% 18.05 18.00
9 ct IH I’'4 1 ’' 4 IS - 2I) 18 07% 18.12% 18.05
LARD—
Spt 10.85 10.87% 10.82% 10.85 10.77%
Oct 10.93% 10.95 10.90 10.95 10.87%
Ja ßlßs‘° 70 ,0 S7 ' 4 10 7n ,0 - 55
,o ' 9o '5-82% 10,87% 10.82%
Oct 10.95 1(1.95 10.85 10.87% 10.80
Jan 9.95 10 00 9.92% 9.97% 9.80
CHICAGO CASH QUOTATIONS.
CHICAGO. Aug. 14.-Wheat, No. 2 red,
10301.05: No. 3 red. 9601.03; No 2 hard
winter. 93%®96; No. 3 hard winter, 92®
94%: No. 1 Northern spring. 1.0001.05;
No. 2 Northern spring, 9701.03; No 3
9401.00.
Lorn No. 2. 78078%: No. 2 white. 77%
®7B: No. 2 yellow. 77%®78; No 3. 75%®>
76: No, 3 white. 77077%; No. 3 yellow.
• 7'4077%; No. 4. 74075%; No. 4 white
• 5%@76; No. 4 yellow. 75%®76%.
Oats. No. 2. 32: No. 2 white, new 32%0
32%,; No. 3 white, old, 32%®33; new, 31%
@32; No. 4 white, new, 30%; standard,
old, 33: new. 32%.
CHICAGO CAR LOTS.
Following are receipts for Wednesday
and estimated receipts for Thursday;
Wheat I 275 | tM
Corn 150 127
Oats | 278 137
Hogs | 25,000 17,000
LIVERPOOL GRAIN MARKET.
Wheat opened %d higher; at 1:30 p. m
was %d higher for December and %d
higher for October. Closed %d higher.
Corn opened %d higher; at. 1:30 p m.
was %<l higher for December and %d
higher for September. Closed %d to %c
higher
PRIMARY MOVEMENT.
tV HEAT— I 1918 [ l»n
Receipts I 1,346.0001 867.000
Shipments | 1,283.000 587,000
CORN— | |
Receipts I 419.000 587,000
Shipments | 377,000 326,000
BRADSTREET S VISIBLE SUPPLY.
Following shows the weekly Bradstreet's
visible supply of grain for the week.
Wheat decreased 7,731.000 bushels.
Corn increased 364,000 bushels.
Oats increased 31,000 bushels
LIVE STOCK MARKET.
CHICAGO. Aug. 14.—Hogs—Receipts
25,000 Market strong. Mixed and butch
ers $7.6008.60. good heavy $7.8508.40,
rough heavy $7.5007.80. light $7.85@8.60,
pigs 46.8008.00, bulk $7.8508.45
Cattle —Receipts 20,000. Market steady
to strons. Beeves $6 60010.40, cows and
heifers $2,500'8 40. Stockers and feeders
$4.5007.15. Texans $6.50®8 40, calves $6.50
@8.40.
Sheep—Receipts 20,000 Market weak
Native and Western $3.25@4.50, lambs
$4.60@7.40.
NEW YORK GROCERIES.
NEW YORK. Aug 14—Coffee easy;
No 7 Rio spot 14. Rice firm; domestic
ordinary to prime 4%05% Molasses
steady; New Orleans open kettle 36@50
Sugar raw steady: centrifugal 4 05. mus
covado 3.55. molasses sugar 3.30. refined
dull; standard granulated 5.05, cut loaf
5.80. crushed 5.70, mold A 5.35, cubes 5.25.
powdered 5.10. diamond A 5. confectioners
A 4 85. No. I 4.85. No. 2 4.80. No. 3 4.75,
No 4 4.70.
15