Newspaper Page Text
12 D
IIKARST'S SUNDAY AMERICAN, ATLANTA, f»A., SUNDAY. AFfiTT. 27, 1913.
T
News and Views by Experts of Finance, Industry, Crops and Commerce
FOR PAST WEEK
Activity in Other Lines Ease9
Somewhat Despite the Fa
vorable Weather,
FARMERS MAKING PROGRESS
More Interest Shown in Banking
Laws Than in the Proposed
New Tariff,
By M. A. ROSE.
Activity in most lines except retail
trade ha* cased off a little during the
week.
Retail trade, aided by the best of
weather, and in Atlanta by the crowds
of shoppers from other towns, here for
the opera, was excellent. Summer
weight goods, shoes and men’s fur
nishings all moved rapidly, and some
Whitehall Street merchants say it has
been among the best weeks of the
year.
Demand for money continues brisk.
Though the rate for call loans in New
York has eased, the rate for time
loans remains about -the same. South
ern banks are supplying funds for all
going concerns worthy of credit.
Money for new enter prises or for ex
pansion is more difficult of access.
Deposits are holding up well.
It is said, and not denied, that it is
bard to borrow from State banks for
real estate purposes Just now. The
real estate market Is not as lively as
it has been. Whether the banks aw
conservative because the market is
duller or whether the market Ip duller
because the banks are conservative la
t nice question for debate.
Inquiry for’stocka and bonds shows
some revival. Those in the market
nave small sums, however, and nr«
bargain hunters.” so much po that
few trades are being made.
THE TARIFF.
Proposed tariff changes cause some
discussion, but only the dry goods job
bers seem vitally interested. Proposed
currency legislation is creating by far
more talk Atlanta bankers are now
and always have been keen advocates
of a revised national system of bank
ing, and they think proper laws in this
direction more important than any
• possible tariff change.
Statistics from the United State*
«’rop Reporter, just issued, show
that Georgia farmers pay higher in
terest for their loans than the farmers
COTTON PRICES NOW
ARE AN INDICTMENT
OF NEW YORK RING
NEW ORLEANS, April 26.— No
strongor indictment of the method*
prevailing in the New York cotton
market could be drawn than the cur
rent quotation* on May contracts
there and the price at which actual
cotton is selling In Southern markets.
May in New York closed Wednesday
at 11.37c, while the official quotation
for middling cotton in the local sopt
market that day was 12 3-(tc. or a
difference of practically 100 points.
Seldom, If ever, In the history of the
cotton trade has such a state of af
fairs existed, and the bold-faced ma
nipulation of the New York market,
which has been unduly depressed,
with tl.a Idea of forcing Southern
spot holders to turn loose their cot
ton, is calling forth the severest criti
cism here.
Colonel W. B. Thompson, former-
president of the New Orleans Cotton
Exchange, who has, on several occa
sions. appeared before congressional
committees to defend the system of
future trading, has denounced the ac
tion of the New York market as "out
rageous.” To the credit of Southern
spot Interests. It must Ire said that
they are bravely standing to their
guns. Although there has been some
shading of official quotations on of
ferings of scattered lots of spots, ex
porters vrho enter the market find
such great difficulty in obtaining
average running lots of cotton that
they are compelled to call for deliv
ery of cotton on contract In this mar
ket
In this market the contract is based
on Government standard types of the
various grade* Hence, the buyers
of contracts in this market know that
their contract calls for something,
and that there is no fear of their
being tendered and having to accept
what is known as "dog-tail” cotton,
such as In tenderable In the New York
market. The small discount at which
May contracts In this market are
running under spots represents only
a possibility of the receiver being
tendered tinged or stained cotton, the
penalties on which are not quite as
heavy as export interests In this
market would like to see.
But even with this little obstacle
in their way, several large export
firms have decided to take up cotton
on May contracts in this market, be
lieving that they esn fare as well by
taking up the cotton on contract ns
they could by going into the open
spot market. It is for this reason
that the May position In this market
continues lo rule at a premium of 15
to 18 points over July. The differ
ences between here and New York on
May continue to widen dallv, and
were recently running ns wide as 80
points In other words. May con
tracts in this market have been com
manding « premium of 80 points over
May in New York, that premium rep-
of any other State, with the exception
of Alabama. Texas farmers pay within
»n infinitesimal fraction of the same
rate.
Bankers have no quarrel with the
figures. They take them as a text,
and from this text preach currency
reform and diversified crops.
Georgia. Texas and Alabama, they
say. arc to a large extent "one crop"
States. It takes a long time to make
a crop of cotton: the farmer must
borrow enough to run him all season
This* makes keen demand. On the
other hand, the supply Is scarce, for
deposits are small.
Under the present banking system,
ilie only way for banks to get addi
tional funds In the face of high de
mand is to borrow in New York.
Banks iri cities the stxe of Atlanta
pay 5 pier cent In New York. Coun
try banks in the South pay 6.
It is pointed out that if there were
a central market for paper, the ooun-
:ry merchants' notes and the farm
ers’ notes could be rediscounted as
apldly as the demand for additional
funds arose. English and German
banks never owe a cent to other |
resenting the difference In the intrin
sic value of the two contracts
In the course of the trading recent
ly, It developed that the same inter
ests which have been depressing the
May position In New' York were short
of Mays In this market. As, even at
the premium prevailing over New
York. May contracts in this market
are not on a tenderable basis, the
New York interests short, of Maya
here are In a tight position, from
which It will be almost impossible to
extricate themselves without great
loss. First notice day has already ]
arrived, and while shorts will have
until the last day of May to deliver
on contract, they will find that they
will have to compete with the Aineri- j
can mills and spot shorts for such ac- \
tual cotton as muy be offering during
the month of May.
Such an interesting situation hav- 1
ing developed, the outcome of the
May deal in this market is anxiously
awaited. It is believed here that Liv
erpool interests may step) In at th<
last moment and take up, the entire !
New York stock, in which event the j
army of speculative trailers in that .
market may come to grief.
Prank I) Hayne. to The Vmeric an’s
correspondent, said that New York
would not have dared to have put
May contracts so low had It not been
for the Government suit which has
prevented bullish interests from co- j
operating against the combined ef
forts of Wall Street speculative inter
esls in New York to depress the pric,
of the South’s great staple.
The people of the South are already
becoming aroused over the concerted
attack being made by bearieh, inter- j
ests in New York to depress cotton
values and to force Southern spot
owners to unload, and It Is thought
likely that some united action will be
taken to have the Sherman antl-trusi
law amended so as not to militate
against bullish operations in the cot
ton market. If this can not he done,
then the agitation to reform the
methods prevailing on the New York
Cotton Exchange will be renewed.
Government supervision of cotton ex
changes is the remedy that has been
suggested.
Many complaints have recently
come in from Texas and other parts
of the belt regarding the damage done
to the new crop by the cool nigbi.e
The plant is growing poorlv and in
many localities replanting has been
necessary. The recent rains in Tcxh-
benefited the crop in that section, but
the benefit was offset by another ,old
wave, which is causing some concern
here, lest the Texas crop should get a
bad start. With warm, dry weather
from now on. the crop may recover
lost ground, but should n “wet Muy”
be encountered the talent here would
at once think of starting a bull cam
paign, on the theory that the crop
would probably be a short one. where
as the world will require one of at
least 15,000,000 bales.
LOANS EXPENSIVE
Average Rate of Interest for the
State 9,98 Per Cent, Federal
Report Shows.
SPOT DEMAND DIES;
OWNERS HOLD BAG
banks. They simply rediscount their
paper. But if an American bank were
to take one of its customer’s notes
across the street to its rival and at
tempt to sell it, everyone would
think the institution was on the verge
of failure.
It is said that Atlanta banka with j
a temporary surplus have sent funds
to New York to draw 2 per cent In
terest while banks a few blocks away,
with temporary' need for cash, have
borrowed in New York the same day
at 5 per cent.
For these reasons and other* the
South will profit more by some sort of
central reserve system than It possi
bly could lose from any sort of tariff
tinkering.
in the same set of figures was the
information that Florida farmers bor
row considerably cheaper than Geor
gians. Florida Is a State of varied
crops—citrus fruits, truck, berries
and the ordinary forage crop# and
grains prevent the reign of King Cot
ton from being despotic.
The Florida farmer makes several
crops a year, vegetables, fruits, po
tatoes and the other products follow-
ing in rotation. Every few months
ho has some money coming in. He
does not need to borrow, or if he
docs, not for so long a time. He has
deposits to make several times a
year instead of once. This epel 1 *
cheaper money.
These financial sermons are not
new, but seldom have they had so
striking a text.
FARM WORK PROGRESSES.
The weather has been decidedly
propitious for farm work. Well-In
formed cotton dealers think Georgia
will be through planting by May 15.
Cotton futures have declined still
more, probably because of the excel
lent new cron prospects, although the
futures markets seem to be under
going extensive manipulation, and
■pots are paying little attention to the
paper deals.
Dry goods trade is fair The num
ber of orders Is large, but most of
them are fqr small consignments
.ToDPers are preparing to open up fall
lines May 1. They have their sam
ples, but are not showing them. A
considerable number of buyers, at
tracted bv low fa-res, have been in At-
anta. Woolens, under the stimulus
of concessions In price, are moving
well until jobbers' stocks are well
trimmed to meet any change In the
tariff, what effect the tariff will have
on cotton goods is a matter for de
bate. Wholesalers are buying as lit
tle as possible until this question '-s
settled.
Wholesale grocers say they “have
no causa for complaint. ” The volume
^Jf busies Is about equal to that cf
wetik.
MEMPHIS, TENN., April 26.—
Weakness in the old orup futures, es
pecially in the May position in New
York, together with favorable condi
tions surrounding the start of the
new crop hud a discouraging in
fluence on spot buyers during the
past week. The result was that the
moderate revival In demand which
developed during the preceding week
sub sided and the owners of the un
sold remnant had the hag to hold.
There has been some weakening in
quotations, but not enough to adjust
the wide disparity between the ac
tual and the shadow, and It is still
a mutter of difference of opinion as
to when the adjustment w’ill take
place. Not only is there an unnat
ural difference between contracts in
New York and spot prices in the
South, but New Orleans summer
months are likewise out of line by
comparison with New' York.
Liverpool I* ruling at s premium
which indicates better support to the
bull side abroad than lies*, and it
strengthens the idea that there is
foundation for the report that when
Muy tenders are made in New York
In a few days, many of them will find
tlieir way to the hands of foreigners.
The proposition is regarded by many
spot people an attractive, ns there is
a considerable portion of good cotton
in the New York stock, and it is by
far cheaper than anything to lip had
In the belt at current price levels The
explanation of the comparative
steadiness of contracts in New Or
leans la In the fact that the Southern
speculative center keeps closer to the
spot markets than New York
Business at this center has fallen
off sharply from the previous week's
volume, yet prices have not been re
duced much. There arc more sales
than receipts front daj to day, but
unsold stock is still proportionately
large, slightly over half the total.
Middling is quoted at 12 1-4 cents,
which means that shipments fpr de
livery at New York are out of the
question from this territory. The
feeling among the factors is still one
of optimism, for it is believed there
will he sufficient demand before the
summer passes to take everything],
though opinion as to prices is hardly
so positive in favor of present’ levels.
The excellent weather has aided In
getting the new crop started Except
in those districts where the flood has
been a menace and lias kept ^planters
from pushing tlieir work, conditions
are much more favorable than a year
ago. There has been quite a lot of
planting arid some advices say that
stands are already good. Some re
port* say that the cool nights have
done injury to the young cotton, while
rains were needed in some sections
before they came. The receding wat
ers have been followed bv a rush to
the lowlands, anti It will not take
long, given suitable weather condi
tions, to get the seed into the ground
In some kinds of soil the seed will be
planted without waiting to plow as
this has proven satisfactory in the
past. The Indications now are that
the average start for the crop in this
territory will be several weeks ahead
of a year sgo. especially in the over-
flowed sections.
The presumption continues in fa
vor of some acreage Increase, though
estimates are not yet attempted
Georgia farmers pay $9.98 interest
per year for every *100 they borrow
from the banks.
They pay higher interest than the
farmers of any other State in the
South, with the exception only cf
Alabama, where the rate is 10.02 per
cent.
North Dakota, Oklahoma. Now
Mexico, Arizona and Alabama farmers
pay higher rates of interest than
Georgia. It may be noted that all of
these, except Alabama, are compara
tively new States.
Against lessened interest burdens
in many States, Georgians are paying
higher rates this year than In 1912.
Last year the average rate of interest
was $9.67 per $100. The average for
the nation Is $7.75.
These are figures compiled by the
Bureau of Statistics of the Depart
ment of Agriculture. To country
banks of the United States 3,000 let -
tors were mailed, asking:
“What is the average of the current
rates of interest paid to banks by
farmers for three to six months'
loans? (Rates which will represent
as nearly as possible the average c,f
til! such loans, secured and unse
cured.) •
"What was the average for similar
loans a year ago?”
About 90 per cent of the banks re
plied.
Averages bv States.
Average rate* of interest for farm
loans in Southern States follow: Vir
ginia, 6.21; North Carolina. 6.39;
South Carolina, 8.06; Georgia, 9.98;
Florida, 8.80; Kentucky, 6.86; Tennes
see, 8.28: Alabama. 10.02; Mississippi,
8.26; Louisiana, 8.33; Texas, 9.97; Ar
kansas, 9.67.
The divisional average for the South
Atlantic States is 7.36 and for the
South Central Stales 9.51. Rates in
the South Central States show a de
crease from last year, when the aver
age was 9.68.
As might be expected, the lowest
rates are paid in the North Atlanti:
States, where the average rate is only
5.96 per cent. Six per cent is the pre
dominant rate there for short-time
unsecured loans, and 5 per cent for se
cured loans.
The statistician comments;
'As one goes southward from Mary
land through the Atlantic Coast
Stales the rate tends to increase, ex
cept that in Florida the rate averages
somewhat less than in Georgia. A
banker in Maryland, who reports the
Interest, rate at 6 per cent, writes'
‘Mortgage loans made to farmers are
generally made through lawyers; in
addition to their fees for preparing
the papers, the lawyers charge 2 per
cent for getting them the money.’
Borro Won Crop.
"In South Carolina and Georgia the
rates quoted vary’ more widely than
in the States farther north, the range
being mostly 8 to 12 per cent. Eight
of the 31 reports from Georgia give a
higher average rate for this year than
for last year, and but one a lower
rate.”
It is remarked that farmers in these
States borrow on pledges of live stock
and cotton to be made, and that
short-term loans seldom are attempt
ed.
“In most of the cotton-growing sec
tions of the South loans are usually
made for six to twelve months,” the
report continues. ”A banker in Ala
bama writes: ‘Banks in this section
of the country make loans in small
amounts, say from $30 to $100 or $200,
to tenant farmers Who own only one
or two mules, a .vagon and a cow,
and who depend entirely upon a good
. rop to pay them out of debt; this
class of farmers usually pay about 1
per cent per month for their loans;
but farmers who own their farms can
get money at 8 per cent.’”
James J. Hill Gives
Railroads Advice
High Water Hampers
Lumber Shipments
Cypress Mills Threatened With Flood.
Demand Strong—Prices Higher.
Exports Heavy.
NEW ORLEANS, April 26.—High
water is making the lumber traffic sit
uation in this market more or less
acute, especially in the cypress dis
trict, In the Lafourche and Atcha-
falaya River levee districts large
forces of men are kept guarding the
levees night and day, and thousands
of feet of material for flood fighting
are being accumulated at spots which
are thought dangerous. The T. & P
bridge at Melville went out Monday
and, although the Gould lines out of
New Orleans are advertising they are
taking freight of all kinds, it is be
lieved it will not be possible for them
to accept lumber on account of the
mass of preferred freights. Cypress
manufacturers are rushing their stock
to market us fast as possible, so as to
have small stocks in factory’ yards :n
case of ari overflow.
The market on cypress of all glades
istflrm. with prices to advance from
$1 to $1.50 per 1,000 on common lum
ber during the next fortnight. The
Ohio Valley is beginning to flood the
factories with inquiries to repair flood
damage.
Yellow pine prices are also firm,
with local dealers making heavy ad
vances on all grades. The mills on
both sides of the Mississippi are run
ning double shifts to full capacity and
selling their output f. o. h. cars mill
as fast as they can turn it out.
Illinois and the central and upper
Mississippi Valley States are the
heaviest consumers. Bridge timbers
and hewn pieces, as well as piling,
ire in great demand from the Ohio
Valley States, the railroads being fhe
best bidders. The car supply on the
east side is adequate and operators
are well satisfied. A congestion Is
j likely to ensue on the west side.
In the export market things are
I humming. Prices are irregular and
almost any quotations can be had,
according to whether the dealer is a
buyer or seller. Somy report that
hewn timbers are down from 30 to 23
cents a cubic foot. Piling is steady
at 13 cents a foot, and creosote plants
are demanding long lengths—that is,
from 85 to 100 feet Timbermen coin
plain the price is too low.
.AHEAD OF IRON
Pig Being Made Faster Than
Taken, While Fabricated Steel
Is Badly Wanted,
BIRMINGHAM. ALA.. April 26. -
Curtailment of production of pig iron
in the Southern territory is not heard
of yet, though the make is considera
bly greater than the demand. Some
of the more optimistic iron men as
sert it will not be long "before some
buying will set in. The price for pig
iron in the Southern territory now
averages around $12.50 per ton. No. 2
foundry, though it is reported there
is a better price obtaining in some
quarters. Cast iron pipe makers are
melting iron steadily, and it is un
derstood there have been some orders
received recently. The greater num
ber of the pig iron manufacturers in
the South aver that tariff agitation
has affected the market. The activity
in the iron market the last half of the
past year cleaned off the yards well
and the make can bo kept up to rec
ord marks, and at least six months’
time will be necessary to stack the
iron up again. When the activity set
in last year the prices were under
$12.50 per tun, No. 2 foundry.
Cast iron pipe makers expect to
send their product in all directions,
as was the case in 1912. The extreme
West is beginning to make some in
quiry for cast iron pipe and the indi
cations are there will be a good de
mand from that section. There 1 ! is
need for pipe in the Southern terri
tory.
’J'he orders for steel are beginning
to dwindle. Good prices still obtain
and in some lines there is a little
strength shown.
There is but little, if any, steel be
ing accumulated or sent to ware
houses. Fabricated steel is in good
demand, the product being shipped to
various parts of the Southern terri
tory alone. This means active opera
tion of the rolling mills'at Bessemer.
’1 here* are reasons to believe that ad
ditional orders will keep the points In
fairly good operation through the en
tire summer.
Charcoal iron is being used freely,
wheel works In the South having or
ders on hand. Basic iron s well as
special brand and analysis .ons com
mand good prices.
The plant of th* American Radiator
< 'ompany, under c onstruction at North
Birmingham, will be completed soon.
It is asserted that when once in full
c i ration this industry will use a con-
sit 1 < rable tonnage of metal anu give
‘ mplovment to many mem. The plant
will cost upward of $500,000. The
new cast iron plant being erected at
Boyle?!, just outside of Birmingham,
will shortly begin making some prog
ress above the foundation. It is in
tended that this plant be completed
and in readiness for operation by fall,
when a general revival Is expected.
NAVAL STORES MARKET
IS REVIVING RAPIDLY
SAVANNAH. GA., April 26—There
: has been a general resumption of ac
tivity in the naval stores market fol
lowing the definite announcement
that the American Naval Stores Com
pany will not again participate as a
buyer. Uncertainty as to what the
suspended trust would do after the
creditors took charge of it was large-
| ly responsible for the recent stagna-
| lion.
Rosins are selling liberally on a
steadily rising market. Turpentine
has remained a ready seller through-
• out the depression, although prices
are now easing oft a little bit follow
ing the resumption of trading in
; rosins.
Receipts have been and are very
good. Much of t,he accumulated
stock is now moving. There is a
brisker tone on the market than at
any previous time during the season.
It is apparent that there is to be a
large curtailment in the output for
next season.
Buying orders from European fac-
! tors have been coming in with some
! regularity, which means, it is be
lieved, that, the foreign trade is being
gradually weaned away from substi-
! tutes.
OTHER EXPORTS
1FF5ET COTTS!,
During the five months from Oc
tober 1 to the f nd of February, *
third of the country's entire raur .
chandise export trade was made up
of cotton. Exports of that eommodi-
ty were $381,996,000, as compared
with *355,321.000 In the corresponding
period last year, when, as a conse
quence of the 18,100,000-bale crop
of 1911, cotton exports established i
high record. It was largely through
the enormous volume of the cotton
exports this past winter that wc built
up for the period a foreign credit
balance on merchandise account that i
had been exceeded only three times
in the country's history.
In March, however, as shown bv
the Government, the country's ex
ports of cotton decreased heavily
their value was *23,600,000, which
was the smallest for the month In
ten years past, and which compared
with $60,500,000 in March of 19ix
Agricultural exports as a whole fell
below March, 1912, by $28,200,000, or
no less than 80 per cent. Yet in t
spite of this striking decline, figure*
on the full foreign tra-de of March,
showed that total exports had fallen
behind 1912 by only $18,000,000, or it
per cent., and that, except for 1912
the full export trade had established
a high record for- the month.
It was in the export of non-agricul-
tural products that the offset to so
large a shrinkage In cotton shipment*
occurred, and herein lay one of the
most striking features of the March
trade report. Our shipments of Iron,
steel, copper, leather, and all other
non-agricultural products during the
month leached a total of $121,700,000,
comparing with $111,600,000 in March]
1912, and with $84,600,000 in the same
month of 1910. They were far be
yond all precedent for the month,
and they ran 54 per cent, beyond the
I then unprecedented March total of
1909. As a net result, the March
[ export balance, instead of falling
j short of other recent years, exceed-
I ed that of all previous correspond
| ing periods in the decade past except
; 1912, 1908. and 1906.
EUROPE SPENDS MILLIONS
TO AID COTTON GROWERS
England, Germany and France are
Indefatigable In their efforts to make
their cotton mills independent of the
American crop by stimulating the
growing of cotton in their posses
sions How much In earnest these
nations are over this question is
shown by the fact that to date they
have spent $3,184,458 to encourage the
production of cotton.
Within the three years. 1909,1911 in-
cluslve, $388,458 was made available
for this purpose, $110,659 by England,
$133,414 by Germany and $84,385 by
France. Up to 1909, England had
spent $2,237,200, Germany $404,600 and
France *216,200.
Russia has been pouring millions
into irrigation project* In Us Asiatic
possessions, one recent act alone ap
propriating $2,404,328 for the purpose.
The figures include both Govern
mental and private expenditures.
PREACHERS STARS ON
RICHMOND BALL TEAM
RICHMOND. April 26—The direct
.“tamp of approval ha* been put upon
the great national game by the church
in Blehmond. Two leading clergv-
men are to be star players of a pro
fessional men s team that is to cross
bats with a business men's nine.
The Rev. David Ralston is captain
:tnd pitcher of the professional men's
: team, while Father Sullivan ha* been
| aesignc>j£p right field.
GOWN FOR FLOOD RELIEF
CONTAINED DIAMOND PIN
WHEELING. W VA . April 26.—
when Miss Mary Pollock, daughter of
a stogie manufacturer, was a^ked for
a donation for the flood sufferers
she turned over to the relief com
mittee several of her old dresses with
out examining them closely. After
the clothing had been contributed one
of the dresses was found to contain a
diamond brooch, valued at $1,0(10. It
had been missing for six months, and
Miss Pollock believed it had been lost
or stolen.
Says They Should Stay Out of the
Money Market as Much as
Possible.
NEW YORK. April 26—While in
terest in the bond matket was at its
greatest height James J. Hill ex
pressed the belief, that at long as
everybody seemed to want nwmey the
railroads had better be careful in
making financial commitments. This
is what Mr. Hill had to say:
"Money is high in the East, and I
believe that railroads should exercise
extreme caution in making financial
commitments just new. The outlook
is not altogether favorable. Every
one wants money, and every one is
paying high prices for it. Great
Northern, already in a strong finan
cial condition, will maintain ns large
a cash balance as possible against
future contingencies.”
To follow Mr. Hill's advice, a rail
road with no floating debt must keep
improvement expenditures within its
cash resources.
.Since January 1 eight railroads
have arranged to take up or extend
short term notes maturing this year,
and before December 31. similar ar
rangements must be made by twelve
other companies. The amount of rail
way short term notes which must
still he financed before the end of
the year totals $121,000,000.
CUT THIS AD OUT
FOR FUTURE REFERENCE
Sooner or Later You Will Give Your Multigraph
Work to Our
LETTER CRAFT SHOP
Why Not Sooner? Phone Ivy 7011.
THE BUSINESS SERVICE CO., ioi-2*ubwi,A W .
Auditors, Accountants, Addressing, Mult’graphing.
ie World’s Largest Builders of S,i x - C y 1 i n d e r Automobiles
54” Phaeton
Electric Self-Cranlring and
Electrically Lighted
If You Drive a Car
Then Try This Six
You will get a new idea of motor pleasure if
you drive a Six.
All the things you have looked for in a motor
car seem to be contained in a first class six-
cylinder automobile.
It has the flexibility, power, energy, comfort
and luxuriousness such as is impossible to put
into any other type of car.
The HUDSON “37” is the masterpiece in
four-cylinder cars. But there are distinct quali
ties in performances and service in a six that are
not possible in a four.
This does not mean that a four v/ill fail to
please you. It means that a six will please
you more.
And Why a “54” HUDSON
Motorists who know see in it the qualities which
only Howard E. Coffin and his associates—48 all told
—were able to build into it.
They have not produced a Six by merely adding two
cylinders to a good Four. A good Six can’t be built
that way.
These 48 specialists, experienced in all the details of
motor car building, trained in 97 European and American
factories, started out to build a Six without being ham
pered by old manufacturing equipment and old ideals.
They had a new conception, the result of a combined
wider knowledge than was perhaps ever before centered
upon the designing of a motor car.
You naturally have more confidence in the diagnosis
of a skilled physician than you would in the conjectures
of a hundred laymen. Put equal reliance in these 48
motor experts.
Their reputation is staked on the “54” HUDSON.
That is a sufficient guarantee for most buyers.
But there also are HUDSON Sixes in every section.
They are doing the most abusive service that any
automobile regardless of cost ever did. And they are
standing up.
HUDSONS don’t disappoint.
The “54” HUDSON has electric lights. It is elec
trically self-cranked. The famous Delco system,
patented, is used. Every motor car luxury is included,
speedometer, clock, top, curtains, rain-vision windshield,
demountable rims, twelve-inch upholstery, etc.
Equipped with a five-passenger Phaeton body at $2450.
At $1875 you can obtain the HUDSON “37”—
designed by the same engineers that built the "54”—
and pointed to as the “Four-cylinder masterpiece.”
See the Triangle on the Radiator
FULTON AUTO SUPPLY CO., Distributors
46 E. North Ave. J. W. GOLDSMITH, President Atlanta, Ga
I i