Atlanta Georgian. (Atlanta, Ga.) 1912-1939, April 28, 1913, Image 12
12
Till- V I! ,\ N r \ (i KOI{( i IA N AND NEWS. MONDAY. APRIL 28. 1913
COTTON GOSSIP
it
Mh
lie
in
•<I
PIlfH | U Spot Houses Stop Many Notices,|
lllttl III' General Selling Follows Fore-
lifficult task t<» K**t
amount tendered.
Saturday that full.v
>0 hairs would ho t elide red Some of
large spot houses were credited with
>rblng the greater quantity.
Today's NewYork
Stock Market
But Public Hostility to Wall
Street and Its Business Is
Still Rampant.
BY B. C. FORBES.
The New York Stock Exchange
governor* are manifesting unprece
dented vigilance. They Have done
more real housecleaning than the
public realize. The suspension last
week of two members is significant
©f the new order. The Exchange also
probed a complaint against an im
portant banking house, but did not
find that the facts warranted repri
sals.
* * *
The Hearst papers Have vigorously
advocated Stock Exchange reform.
They have also insisted again and
again upen a fuller measure of pub
licity. But tho managers of the
Stock Exchange have no control
whatever over non-members. This
point is too often forgotten.
The Stock Exchange cannot make
men honest. Governments have beon
trying to do that for centuries, but
human nature has remained human
nature. The best the Exchange can
do is to watch closely the doings of
its members and immediately pounce
upon wrong doers. That more is be
ing done in this direction than ever
before no one familiar with Wall
Street will deny. That there is room
for further improvement is also ad
mitted. *
Public hostility to Wall Street is
still rampant. Several recent inci
dents have not tended to allay it.
^ Numbers of newer industrial stocks
have been handled disgracefully by
insider , Outsiders have lost heav
ily. Whether the Exchange authori
ties—or the Federal authorities—
can‘do anything to stop such fll'm-
flamming is an open question.
• • *
A correspondent has seen a lengthy
communication which is illustrative
of how a good many people feel to
ward Wall Street. He berates me
for not scold'ng Wall Street enough,
for not “going for" Albany politicians
and for once in a while discussing
the better side of human nature. He
refers to the manipulation of certain
newer shares on the Stock Exchange,
and then adds:
“This dirty finance is. in my judg
ment by far the most important
question before the American people
to-day. It seems to pervade all
classes of bankers, promoters and
corporation officials. Every pieae
of news is “discounted" on the Stock
Exchange, which »s only another way
of saying that the insiders have
played their official knowledge
against the stockholders and the
public. Juggling of figures for the
benefit of officiale, speculating in the
stocks of their companies, is so com
mon as to be almost the rule; and
Well Street smiles indulgently as
who should say, “Yes; it’s crooked
but it’s part of the game."
• * *
“The Stock Exchange appears help-
It does not dare to discipline
any of the “big men," because it is
absolutely dependent on the co-opera
tion of the banking houses and direct
ors of the principal corporations for
>ts existence.
• A few years ago, when Mr. Harri-
man returned from abroad to die, the
he*d of one of our largest banking
houses went to sec him the day be
fore His death, and was thon reported
to have given out an interview in
which he said, ‘Mr. Hamman is prac
tically a well man.’ This enabled a
rally in Union Pacific to about 211;
but not so many months later, after
the insiders had unloaded, the stock
was down some 60 points. Did the
Stock Exchange ever take any notice
of this? No; it didn't dare. This
same banker to-day holds up his head
and takes a prominent part in civic
and charitable movements among
men who presumably are honest and
honorable. Meantime, are we un
charitable in assuming that the bank
ing house of which he is head, sold
its Union Pacific above 200, where it
has never been since?
“While the standard of morality
in Wall Street is so low, ?t is useless
to hope for improvement from within
This financial clique has shown itself
impervious to any sentiment of de
cency, and utterly opposed to any ef
fort to destroy its system oL graft.
Incorporation of the Stock Exchange,
periodical reports of earnings, finan
cial conditions etc., of concerns
whose securities arc listed, are steps
toward reform of conditions.
“But the real vital issue is plain
honesty; reforming conditions, afte-
all, only reformng the machinery.
We must find means of compelling
honest and disinterested service in
the directors of our 'arge corpora
tions, and plain honesty in the offi
cers of our bank."
^ell some of us have been trving
our best to preach honesty, and to
criticise dishonesty. But miracles
cannot be wrought in the twinkling
of an eye. It is some consolation to
know that the trend is in the right
direction.
THE WEATHER.
WASHINGTON. April 28. - The weath
er will b*‘ unsettled with shower* dur
ing the next 36 hours in the 1'pper Ohio
Valiev, the Lower l ake region and the
Middle Atlantic and New England
States Fair weather will prevail to
night and Tuesday ir. the Squib At
lantic and Fast Gulf Stme>. the Mis
sissippi Valley and T’pp* r Lage region.
Temperature will be Imur to-night
and Tuesday in New Fr,gland and east
ern New York and >-n‘g’nt on the mid
dle Atlantic coast It will rise Tuesday
in the South Atlantic and Fast Gulf
States, the Mississippi and Ohio Val
leys, and the T T pper Lake Region.
FORECAS
Construction Chief Reiterates He,
Won't Pay More Than $21.75 j
for Material.
(‘ity I'liief of ( 'oiMtrtJi lion It. M
flay ton to-day gave out a statement
sharply attacking Chairman Shelby
Smith, of the County Commission, for
hla attitude in uiging the purchase of
lake asphalt at practically twice the
price at which oil asphalts can he
purchased. He reiterated that he
would not approve material costing
more than $21.75 a ion
Captain Clayton quotes records of
analyses by the Pratt Laboratory, of
^Atlanta, and Dow Air Smith, of New
York, stating that the oil asphalt?
were as good as the lake aaphalts.
Raps Smith's Lack of Data.
“I don’t know any other way to
determine its worth except by chemi
cal .analysis," said captain Clayton.
“But. Chairman Smith, after two years
pf experience, comes forth as an ex
pert without even this data.
“J am informed that no specifica
tions were required for the recent bids
received by the County Commission
ers and that no bids were advertised
for, but notice was sent to a few pre
ferred dealers.
“The county hoard is proceeding in
the dark. They are about to pay ex
orbitant prices with the people's tax
money for material that can be se
cured at just prices."
Claims Difference in Prices.
He ret ailed how the city advertised
for bids on asphalt and awarded the
contract to the Texas Company for
$21.75 a ton for oil asphalt. Then In
stated that the County Commission is
about to pay $41.1*4 and $31* per ton
for lake asphalt.
“By scientific test the cheaper prod
uct proves to be Just as good as the
lake asphalts," continued Captain
Clayton. “Chairman Smith said he'
would take the convicts off the city
streets if the material specified by the
"unt.v w. n not ^sed I have nothing
to sa 5 a bout v, hwf be dot i wit h t h<
county convicts, but I never will con
sent to a squandering of the people’s
money The city will not pay more
thart $21.75 per ton for asphalt.
lie criticises Atlanta's streets.
They all are paved with the lake as
phalt he is insiHing on."
ATLANTA MARKETS
country, candled. 150
Jersey and creamery, In
27% 0 30c. fresh country,
17 %0 22 %c.
POULTRY- Drawn, head
pound: Hens, 65055c;
esters, 80 IQ? turkeys
cast of Warmer Weather.
NFW YORK, April 28. There was a
steady tone in the cotton market to-day
at the opening, prices being 6 points
lower t«i 2 points higher. Trading was
quite active and sentiment somewhat
mixed. Notices of about 50.00Q bales
were Issued ibis morning, but from the
character of the buying they were being
well cared for.
Liverpool was a buyer after the open
ing and brokers who frequently act for
spi»t houses bought old crops
Immediately after the opening, a large
quantity of May contract notices were
issued. Tenders were* quickly absorbed
by McFfliliten, Craig anil Liverpool, re
sulting In the market developing a
steady tone, with May advancing 12
points to 11.37; July was under aggres
sive buvfng by the larger spot bouses
and rallied 13 points to 11.53. while other
posit'ons gained 5 to 8 points over the
initial level. Offerings were rather lib
eral, which was said to be. profit-taking.
During the forenoon a \v0ve of sidling,
thought tii be profit-taking. cauAed the
old crop positions to sag a few points
under the early best, while new crops
•■'liowed weakness, inspired bv free of
ferings from the ring and Wall Street
Prices dropped about 4 points under tho
opening level
The map Indicates favorable weather
over the entire belt Tin* map shows
fair and warmer, with the exception of
ntbinary temperatures in North Caro
lina and Fast Tessennee. Cloudy
weather in the Atlantic’s with general
to light rains as needed are shown.
Higher temperatures will prevail over
the western and central half, which off
sets the prospects for frost, which has
been a stimulating factor 1n the mar
ket and causing considerable unfavor
able apprehension among short sellers
During the late forenoon the market
faced general selling by brokers who
were early purchasers. McFadden and
other big spot interests sold July heav
ily. also May Wall Street and the ring
crowd continued to liquidate. No one
seemed to want cotton and prices fell ^
to 13 points under the previous close.
May dropped to 11.24, July to 11.32, Au
gust to 11 24, October to 11.01, Decem
ber to 11 04, while January touched 11
cents. There was no support in evi
dence Everything was bearish.
Weather news arid crop reports were
against the market.
The long Interests seem pretty well
eliminated and the average trader in
clined to sell further short. New crop
months showed considerable weakness,
as the Interest has been centered in the
old crop positions. The buying was ex
ceptionally light and concentrated.
At the close the market was steady
with prices a net decline of f, to 13
points from the final quotations of Sat
urday
RANGE IN NEW YORK FUTURES.
4 if. I
EGGS—Freah
16c.
BUTTER-
1-lb. blocks,
fair demand.
DRESSED
and feet on. pet
fries, 22% 025c;
owing to fatness, 20©22He
UVF POULTRY Hens. 500 55c.
roosters 2.Du 30c, fries 35© 40c. broilers
30035c, puddle ducks 30© 35c. Pekins
35© 40c, geese 50069c each, turkeys, ow
ing* to fatness, 18020c.
FRUITS AND PRODUCE.
FRUITS AND VEGETABLES— Lem -
ons fancy $0 00 grapefruit $2.75©3.00,
cauliflower 10012 %c lb., bananas, 3c per
pound, cabbage $101.10 crate, peanuts
per pound, fancy Virginia. 6%@7e,
choice 6%@6c, lettuce fancy $2,600,300,
beets $1.000 1.25 in half-barrel crates,
cucumbers $2.2602.50.
Fgg plants (scarce) $2.2602.75 per
orute, pepper $2.500 2.75 per crate, to-
inutoes fancy, six-basket crates $2,250
4 to. pineapples $2.5002.75 per crate,
onions 600 65c per bushel, sweet pota
toes, pumpkin yarn 65070c. strawber
ries !O0i2%o per kuart. fancy Florida
oeler\ $2.5003.00 per crate, okra, fan-
ey 6-basket crates $3 0 3.00.
FISH.
FU’di Bream and perch, 7c pound,
snapper, lOc pound; trout, 10c pound;
bluettsh. 7c pound; pompano, 20c pound;
mackerel. 7c pound; mixed fish 506c
pound; black buss, 10c pound; niulle
per barrel
FLOUR AND GRAIN.
FLOUR Postell'H Elegant
Omega $7.50, Carter’s Rest $7.75, Qual
ity (finest patent) $6.65; Gloria (self-
rising) $6 60. Results (self-rising), $6 25
Kwans Down (fancy patent) $6, Victory
(the very best patent), $6 65. Mono
gram $6. Queen of the South (finest
patent) $6.60. Golden Grain $5 60. Fault
less (finest) $6.25, Home Queen (high
est patent) $5 85. Puritan (highest pat
ent^ $6.85, Paragon (highest patent)
*6 S.-. Sunrise (half pdtent) *5.25, White
Cloud (highest patent) $5 50. White
Daisy (high patent) $5 50. White Lily
(high patent) $5.60, Diadem (fancy high
patent) $5.7a. Water Lily (patent) $5.15,
Sunbeam $5.26, Southern Star (patent)
$5 25, Ocean Snruy (patent) $5 25. Tulip
(straight) $4.16, King Cotton (hair pat
ent > $6, low grade 08. pound sacks D
GROCERS.
SUGAR Per pounu: Standard granu
lated 5c. New York refined 4%c. plan
tation 4 85c.
COFh KK — Roasted (Arbuckle’s)
*24.50. A AAA, $14 50 in bulk; in bags ami
barrels. $21; green 20c.
R1UF Head 4 x '<i 5% c, fancy head 5\
u6'v' • according to grade
LARI*- Silver leaf 13c pound. Sooco
poumL Flake White 8 %o pound,
Oottolene $7.20 per case. Snowdrift $5.85
per
Ap
11
.46
11
.46
11.42
ill
.42.
11
.45
11
.38
My
11
. 26
11
.44
11.22
11
25
11.
,25-
• 26
1 1
.32-
•34
Jn
11
.40,
11
. 10
1 1.39
11
.pi
1 1
.37
-38
11
.47-
19
.11 V
11
40
11
53
11.32'
11
li
.37-
-38
1 1
.45-
■ 16
A g
11
.30
! 1
.38
11.20
ri
.22
11
, 22-
-24
11
28-
«9
Kpt
11
10
11
. 17 1
1 1.05
11
.05
1 1
.03
-05
1 1
.15-
17
()c
11
.111
11
16
10.98
10.
99
10
99-
-11
11
.12-
13
Dc
ill
.11
11
.19
11.00
n
.03
1 l.
0.3
04
11
.11
15
Jn
11
.08
11
.14
10.Its
ii
.00
10
.99-
-01
11
.11 -
12
Mh
11
.13
11
.13
11.03
n
.08
11
07
-09
11
.16-
1&
Cloned steady.
HAYWARD A. CLARK'S
DAILY COTTON LETTER
NEW ORLEANS, April 2$ The po
litical situation in Europe at the mo
ment is very critical and important de
velopment s are set for to-day. Paris
says the financial situation and outlook
are unfavorable, owing to the prospect
ive heavy taxation for the purpose of
providing for military needs,
j Weather conditions over Sunday were
favorable, except over the northeastern
belt, where night temperatures were too
low.
Liverpool came in with futures about
4 points lower than due on old crops.
Spots were 3 points lower.
(>ur market opened about 2 points
higher and was carried 6 points further
up on n sudden advance of 20 points in
Max in New York, which gave hope of
professional bull .support in that option.
The general situation is recognized as
so unfavorable that the following of any
suggested bull move is more than cau
tious. This accounts for the rapid loss
of the advance here as soon as May in
Now York easvd,
NEW ORLEANS COTTON.
Quotations in cotton futures:
My
Jne
Jly
\g
$7.75, |S “ l
t. $12
1 r -
o
C.
1 °
d 1
to
* 34
3 131
xn
o
U
V o
u . -
cuy
12.10
12.19
12.00 12.01
12.12-01
12.10-11
l1.94-96
12.04-06
lii. 93
1 1.99
11.77 11 77
1 1.78-79
11.90-91
11.57
11.64
11.43; 11.43
11.43
11.55
11:18-20
11.28-29
ii.2i
i i .26
ii.OS 11.09
11.08-09
11.18-19
11.08-09
11.1,8-19
i 1.23
11.25
11 08 1 1.08
11.08-09
11.18-19
11.25
11.26
11.13 11.13
11.10-12
11.20 21
11.09-11
11.19-21
11.88
11.98-12
Nv
Dc
In
Fb
Ap
Closed steady
LIVERPOOL COTTON MARKET.
duli. neglected ami lower tci
disposition to sell.’’
e ported
Mote
Below ;ir<“ yivt n the highest,
lowest and dosing prices of
stocks to-dav, together with the
previous dose:
According to special reports sent to
The Journal of Commerce, /the cotton
n< reage will be increased in Arkansas,
Louisiana and Tennessee. The season
is earlier than last year and the ground
In a fair state of preparation. Weather
conditions have been very favorable to
the crop.
The Lake St John levee, twelve miles
north of Ferridav, La’. went out yes
terday, tlqoding lower Tensas and Con
cordia Parishes.
Brown, Drakeford A- Co., Liverpool,
cable: "Spot houses and Continent sell
ing old crops.'’
Memphis vs ires. "Memphis territory,
cloudy to clear, prospects clear and
warmer."
• * *
Dallas wires: "Texas and Oklahoma
clear and pleasant."
• * *
Following are 11 a m bids: May,
11.38. Julv, 1.1.42; October, 11.06; Janu
ary, 11.05.
NEW ORLEANS.*April 28. Hayward
& Clark; The weather map is very fa
vorable It shows cloudy over the ,\t-
lantii s vvitii general rains as needed; fair
and no rain and warmer over Central!
and Western States
* * *
Washington forecast for week: Gen
erally fair weather, moderate tempera
tures 'luring next several days in South
ern States. Disturbance now In far
Northwest will move slowlx eastward
and prevail over the great Central val
ley about Thursday. It will cause local
showers and thunder storms in the lat
ter part of the week in the Southern
States.
Liverpool cables: "American middling
tv.ir, 7.22d; good middling. 6.70d: !"\x
middling. 6.54d; good ordinary, 6.20d; I
ordinary, 5.86d."
The following report came from a
well-known crop reporter. "From Dal
las. Shreveport and Jackson to New Or
leans and North and East. Texas the
soil is in perfect condition Planting is
general. In Louisiana and Mississippi
planting is general. Work is well ad
vanced. Some cotton is up in the cen
tral and southern parts Dry and cool
weather prevented rapid germination,
hut general rains have fallen over the
greater part <>f Texas, Louisiana and
Mississippi. Rain was excessive in
parts of Louisiana and Mississippi.
Conditions are fairly normal, except that
river conditions are extremely critical."
• * *
The steady decline in the Atlantic
spot markets, which suggests liquida
tion. is being particularly watched.
Following are 10 a. m. bids: May,
12 12: July. 11.91: August. 11.55; Oc
tober. 11.1.8: January, 11.21.
Estimated receipts for Tuesday:
1913. 1912.
New Orleans 3,500 to 4.500 4.536
Galveston 5,000 to 6,000 1.110
TODAY’S PORT RECEIPTS.
The following table shows receipts
at the ports to-day compared with the
same day last year:
37
101
121
Now Orleans. . .
1,097
2.656
Galveston. . . .
2,909
2.877
Mobile
1,307
266
Savannah. . . .
1,933
4.103
('harleston. . . .
38 i '
42
Wilmington. . .
105
:■.!«
Norfolk
866 1
2.767
New York. . . .
171
Host on
60 '
10
Pensacola. . . .
2.846
Total
8.658
16,478
^INTERIOR MOVEMENT.
! 1913. ! 1912
Houston
3.550
4,009
\ ugusta
. | 288 !
406
Memphis. . . .
937 i
2.992
St. Louis. . . .
1.823 !
1.280
Cincinnati. . . .
. I 346
1.281
Little Rock . . .
99
Total
.! 6,944
10.067
I LIVERPOOL April 28 This market
| was due to open 2% points lower on May
and % point higher on July and un
changed to 1 point lower on other posl*
Itions, but opened quiet, at a net decline
of i to l% points. At 12:15 p in., the
J market was steady 3 to (% points lower
on near positions and 2 to 2%. points
lower on late months. Liter the market
advanced %» point from 12:15 p. m
Fair business doing in spot cotton at
3 points decline; middling 6.70d; sales
8,000 bales, including 7,700 American;
imports 5.009 hales.
Port receipts are to-day estimated at
S.OOo bales, compared with 12,198 last
week and 16.$44 bales for the corre
sponding week last year, against 14,016
bales for the same week the year before.
SALT One hundred pounds, 53c: salt i
brick (claim tier «*:»*»• S’ 1 • won n.-i.a-
brick (plain) per case. $2 25; salt brick
< medicated) per case. $4 85; salt red
hock ls-r hundredweight $1; salt white
per hundredweight 90c. Grunocrystal.
per case. 25-lb. sacks. 75c; salt ozone,
per case. 30 package*. 90c; 50- lb. sacks.
30o; 25-lb. sacks 12c
MISCELLANEOUS Georgia cane
*vrup 37c, axle grease $la:>, *oda
crackers 7%c pound, lemon crackers Sc,
oyster 7c. tomatoes (2 pounds) $1,65
case, (3 pounds) $2.25. navy beans. $3 25:
Lima beans 7%c, shredded biscuit $3 60,
rolled oats $3.90 per case, grits (bags)
*2 40. pink salmon $7. cocoa 38c. mast
beef $3.80, syrup 30c per gallon, Sterling
ball potash $3.30 per case, soap $1 50-a
4 per <ase, Rumford baking powder $2 50
per case
LIVE STOCK MARKET.
Futures
opened easier.
Opening
Pre\
Range 2 1* M.
Close.
April • • •
. . .6.47%-6.44 6.46
6.48%
A pr. - May
. .6.40 >..-6.39 6.40
6.44
May-J une
. . .6,42%-6.39% 6 40
6.43%
J ane-J uly
. . 6 40 % -6.37 % 6 38
6 41 %
July-Aug.
. . .6 37 " 6.24 " 6 35
6.38
Aug.-Sept,
. . .6 27 -6.24% 6.25
6.28
Sept.-t *rt.
. . .6.15 6.13% 6.13
6.15%
Oct -No*
.6 08 -6.06% 6 06%
6.08%
SPOT COTTON MARKET.
Atlanta, quiet; middling 11%.
Athens, steady; middling 12%.
Macon, steady; middling 12c.
New Orleans, quiet ^ middling 12%.
New York, quiet; middling 11.70.
Philadelphia, quiet: middling 11.95.
Boston, quiet: middling 11.70.
Liverpool, easier; middling 6.70d.
Savannah, steady; middling 12c.
Norfolk, steady; middling 12c
Augusta, steady; middling 12%.
Mobile, steady; middling 12c.
Galveston, steady; midling 12%.
Charleston, quiet; middling 12c.
Wilmington, nominal.
Little Rock, steady; middling 11%.
Baltimore, nominal: middling 12%.
Memphis, steady: middling 12%
St. Louis, dull; middling 12%.
Houston, steady; middling 12%.
Louisville, firm: middling 12%.
Greenville, quiet: middling 11%.
Charlotte, steady; middling 12c.
COTTON SEED OIL.
Cotton seed nil quotations: t
Opening. Closing.
Spot | ! 6.99@7.06
April 6.9206.95
May . . , . . 6.94 0 6.96 6.97 0 7.01
June 6.970 6.98 ! 7.010 7.03
July ! 7.030 7.04 1 7.030 7.04
August 7.020 7.04 7.0907,10
September . . . .1 6.67 , 6.090-6 10
October 6.5006.52 ’ 6.7706.78
November ... 6.4006.42 6.5i06.53
Closed steady; sales 21.400 barrels.
NEW YORK COPFrE MARKET.
STOCK— High.
Amal. Copper. 73' 4
Am." Ice Sec.. 25
Am. Sug. Ref. 110' 2
Am. Smelting. 67
Am. Locomo.. 34' 2
Am. Car Fdy.. 48' 2
Am. Cot. Oil.. 44
Am. -Woolen ..
Anaconda
Atchison
A C. L.
American Can 32
do. pref.
Am. Beet Sug. 30 4
Am. T. T. 129' 4
Am. Agricul... ...
Beth. Steel.. 33'?
B R. T 89' 4
B. and O. 99' 4
Can Pacific.. 241'4
Corn Products 10 1 4
C. and 0 64%
Consol Gas . 129
Cen. Leather..
Colo. F. and I
Colo. Southern . .
D . and H. t57' 8
Den. and R. G
Distil. Secur. . .
Erie 28
do, pref. . . 44
Gen. Electric 138'a
Goldfield Cons.. .
G. Western. 14
G. North, pfd. 126' 8
G. North. Ore. 33%
Int. Harvester ....
III. Central... 1143- 4
I nterboro .... 15'/ 8
do. pref. 52%
Iowa Central
K. C. Southern 24
K and T. 24 ! 8
do, pref
L. Valley. .
L. and N. .
Mo. Pacific.
N. Y. Central 101%
Northwest
Nat. Lead
N. and W.
No. Pacific
O. and W.
Penn 114%
Pacific Mail
P. Gas Co. .
P. Steel Car
Reading . .
Rock Island
do. pfd..
155
131
36%
49
104' 2
114'/ 2
29%
109%
24
160' 2
21
35%
R. I. and Steel 23' 2
do. pfd.... 83' 2
S. -Sheffield
Soj Pacific . . 98-%
So. Railway 24%
do. pfd.. . . 77' a
St. Paul ... 107
Tenn. Copper. 34%
Texas Pacffic 17
Third Avenue
Union Pacific. 149%
J. S. Rubber
Utah Copper . 51%
U. S. Steel . . 60' 2
do. pfd.. . 108
V. -C. Chem
W. Union . . 65 1 2
Wabash .
do. pfd.
Low.
71%
24'/ 2
110' 2
66%
33%
48' 2
44
36%
100 %
121
30» 2
29%
129
33
88' 2
98
239%
10' 4
64' 8
128 8
157' f
28
43%,
138%
14
124' 2
33' 2
114' 4
14%
51' 2
24
24'/a
153%
130%
36' a
101
49
104 ! /2
114
29%
114
109' 4
24
158%
21
34'/ 2
23 Vz
83' 2
97%
235 a
76
10o%
33%
M
503 4
59%
107%
10%
62'/;
'io‘
62'
W. Electric
W. Central
W. Maryland
Total sales. 384,000 shares.
Clos.
Bid.
72*/ 4
24%
1103 4
66%
34
48 1 2
43
20
26%
100%
120 1 2
31%
92' 2
29' 2
129
50 4
89
98
240' 2
10' 4
64' 8
129
23%
32' b
29
157' 4
20
15' 4
273 4
43' 4
138' 2
2
14
12534
33
103
114', 4
143*
51%
8
23
24
593 4
154' 4
131' 2
36' 4
101* 2
128'/ 2
49
104%
114' 4
293 4
114'/ 4
34
1093- 4
23 3 4
160
21«/ 4
35
23
83' 4
32
98 2
24
76' 4
106%
34' 2
15%
34
148%
61
51 Vz
60*4
107' 2
31' 2
65' 4
3
10
61' 2
52
38' 4
Prev.
Close.
73
243 4
111
67'/ 4
34
48%
44' 2
20
37
100%
121
32
93' 4
29' 2
129'*-
51
89%
98' 4
2423 8
10%
64' *
129
23%
32' 4
29
157
20
15' 8
28' 8
44
138
2
.14%
125' 4
33' 2
102
115
15
54' 2
8
23' 4
24%
59
155%
132
36%
1011/4
127%
49
1041/2
114
30
114
24
109
24
160
21 %
35' 2
233 4
83%
30
98'/ 2
24%
77
106%
343 4
17%
34' R
149' 2
61
51' 2
60%
108
31%
65' 2
3
10' 8
62' 4
52
35
WHEAT IS LEADER
AS CEREALS RISE
Firm Cables and Bad Weather
Cause Heavy Buying by Big
Commission Houses.
ST. LOUIS TAS! QUOTATIONS.
Wheat No. 2 red 110 @112'4
Corn—No. 2 58%
Oats—No. 2 35
CHICAGO, April 28. The sharp ad
vance in the price of wheat at Liverpool
this morning was the bull help at Chi
cago. coupled with the unfavorable
v^eather in the United Kingdom and the
backward seeding there. Northwestern
receipts were considerably in excess of
a year ago and the same may be said
of the world's shipments
Corn was unchanged to % to %c
higher on the unset tied weather in the
Argentine, which is unfavorable for the
movement and is likely to create a de
mand from abroad for American corn.
Oats were unsettled with September
strong and other months w r eak.
Under a run of 60,000 hogs at Chicago
and a 20-cent decline in the price at the
yards hog products were 12% to 17%c
lower early.
Wheat closed strong at about the best
price reached, showing gains for the day
of %c to a jO with the exception of tak
ings at Chicago, which were small at
25,000 bushels. The total sales here
were 75,000 bushels, part of which was
forced on the millers.
Corn closed %c to %c higher and oats
were up Lc to %c.
Cash sales were corn 135,000 bushels
and oats 95,000 bushels
Provisions closed lower on the severe
break in hogs as the day wore away.
CHICAGO GRAIN MARKET.
Previous
WHEAT
High.
Low.
Close. Close.
May
92%
92%
92*%
92
July
92%
92 %
92%
91%
Sept
92
91%
92
91
CORN—
May
55%
54 %
55 %
54%
July.. .
55%
55’'4
55%
55%
Sept
56%
56'4
56%
56%
OATS-
May
34 »4
34 %
34%
34%
July
34'«
33%
34%
34%
Sept
34%
33%
34
34
PORK
May.... 10.52%
July.... 10.57%
Sept.... 19.40
LARI)
May.... 10.87%
July.... 10.85
Sept.... 10.85
RIBS
May.
July.
Sept.
11.25
10.92%
10.75
19.45
19.50
19.25
10.82%
10.72%
10.75 "
11.20 .
10.85
1.0.67%
19.45
19.50
19.30
19.62%
19.67%
19.42%
10.85 10.90
10.80 10.82%
10.77% 10.82%
11.22% 11.20
10.90 10.95
10.72% 10.77%
CHICAGO CASH QUOTATIONS.
CHICAGO April 28.—Wheat No. 2.
l.O6%0 1.07 s 4 ; No. 3. 1.0001.02; No. 2
hard winter. 93%0 95; No. 3 hard winter,
92094%; No. 1 Northern spring. 93%0
95; No. 2 Northern spring, 91%093%;
No. 3 spring, 890 90.
Corn No. 2. 57 0 67%; No. 2 white, 58
0 58%; No. 2 yellow. 560 57%; No. 3.
54%055%; No. 3,. white. 57057%; No. 3
yellow. 54% 056: No. 4. 53%054%; No.
4 white, 54% 0 55; No. 4 yellow. 53%0
54%. ,
Oats No. 2 white. 35%036; No. 3
white. 34%035; No. 4. 32; No. 4 white,
33%034; standard, 35%035%.
PRIMARY MOVEMENT.
I
Coffee quotations:
Opening, j Closing.
January 1 ,11.490 11.
February ; 11.50® 1L
April '11.53011,
May 11.10 11.15011
June 11.18® 11.25 11.23® 11
July 11.25 11.27011
\ugust 11 35011.40 11.370 11
September. . . .11.46 11.480 11.
(»etober 11 4X0 11
November. . . ' 11.48® 11
December. . . ._l 1.460 11.47 ' ICS® 1 i
Clos( 1 steady*. Sales. 50,750 bags
LARGE INTERESTS
SUPPORT STOCKS
War News Abroad and California
Situation Blamed for Break,
inactive Issues Weak.
By CHARLES W. STORM.
NEW YORK, April 28. — \V eakness was
dominant at the opening of the stock
market to-day and losses ranging from
fractions to about 2 (joints were scored
by many imporiani issues. Trading
was very active. The pressure resulted
from the European war scare.
.Among tlie losses were Amalgamated
Copper 4%, American Cart L%, Amen-
< an Smelting l, Canadian Racine 1%, £>i.
Raul J. Erie %, Illinois Central %, Le-
nigh Valley l •*. Missouri Racine •%.
I tnted Slates Steel common %, Utah
Copper > 4 , Union Pacific %, Reading %
anu Pennsylvania %■
After a half hour’s trading, a stronger
tune developed and some oi the stocks
made partial recoveries. New York Cen
tral advanced •*. while Northern Pa
cific gained V American Can recovered
nearly all its decline. Missouri Pacific
recovered and gained.
The curb maraet was ep*>v.
Americans in London wt v* above New
Y' rk parity, hut did not f --e assurance
of stability. Canadian Racuie in London
was weak on Continental selling.
Severe losses were recorded in the
market during the forenoon. Lehigh
Valley lost 1% to 154%. Canadian
Racitic declined 2 points to 240%. St.
Raul broke a point to 108. United States
•eel % off. Amalgamated Copper was
off -%^ Fractional tosses were recorded
in all the other issues.
Money loaning at 2%0%.
There was not much change in the
last hour. Amalgamated Clipper sold
around 73 fay a gam of % over ihe mid
day level. Sieel crossed 60 for a gain of
Reading. United States Rubber.
American ('an and American Smelting
made fractional gains over the noon
range Lehigh Valley declined. Trading
was quiet.
WHEAT—
1913.
| 1912.
Receipts
1.369,000
555,000
Shipments
501,000
431,000
CORN— 1 |
Receipts
538.000
| 977.000
Shipments
426.000
! 610,000
CHICAGO
CAR LOTS.
Follow mg are the
receipts
for Monday
and estimated for
ruesday:
Monday.
I Tuesday.
Wheat
33
46
Corn
96
149
Oats
18.3
194
Hogs
9,000
| 15,000
OCCASIONAL*
OB3EKMttiON3
The head of a corporation whose se
curities have slumped millions of
dollars since recently floated
ventured into Wall Street last
week and was roughly handled.
One hanking firm caught in the
sntash-up nearly came to blows
with him. The end Is not yet.
* * *
Financial conditions in Mexico ire
expected to attract unpleasant
notice. Things are nearing a
deadlock, bankers learn.
* * *
From a well-informed source It
learned that the enormous stock
holdings of a veteran multi-mil
lionaire are being sold whenever
the market will absorb them.
This throws light on the liquida
tion of certain high-grade is
sues usually very inactive. The
seller is planning to retire from
the business arena.
* * *
Any one walking along, wall Street
after an absence of half a dozen
years would rub his eyes in be
wilderment, so great have been
the changes in its buildings.
Another pretentious bank build
ing will be opened In the world's
best known thoroughfare this
week, while Morgan & Co.’s new
home will shortly begin to rise
on the site of the doomed
Drexel Building. Everybody
downtown is becoming, aesthetic.
It* costs money.
* ♦ *
The alternative to dear money in the
fall is duller trade. The latter
is the more probable.
* * *
"Let ’em all come" is the slogan
certain Tailroad presidents in
reference to the men’s demands
for higher wages. The heavier
the addition to pay-rolls forced
upon the roads, the less excuse
will the Interstate Commerce
Commission have for refusing an
offsetting increase in freight
rates. v
The bond wor: i is about to turn, it
would, seem. Borrowers are re
fusing to pay the price demand
ed. A change in the status ap
pears to be due.
* * *
California is not hurting Wall
Street. You can't kill a dead dog.
* * *
“I was talking to J. P. Morgan to-
da^," began one man. "What?’'
ejaculated the other. “1 mean
J. P., junior," hastily added the
speaker. Wall Street hasn’t yet
become accustomed to a new "J.
P. Morgan." „
NEW YORK PRODUCE MARKET.
NEW YORK. April 28. Petroleum
firm: crude Pennsylvania 2.50.
Turpentine steady; 42 bid.
Rosin quiet; common 4.75 bid.
Wool quiet: domestic fleece 28030.
pulled scoured basis 38055, Texas
scoured basis 480 55.
Hides dull: native steers 16%®19>,,,
branded steers 15% 015%
Coffee steady; options opened 2 to 5
higher, Rio No. 7 on spot 11%011%.
Rice steady; domestic ordinary to
prime 4%%5%.
Molasses sieady; New.Orleans open
kettle 35050.
Sugar, raw quiet; centrifugal 3.36®
3.39, muscovado 2.8602.89, molasses
sugar 2.6102.64.
Sugar, refined quiet: fine granulated
4.200 4.35. cut loaf 5.0505.15. crushed 4.95
05.05, mold A 4.600 4.70. cubes 4.450 4.60,
powdered 4.3004.45. diamond A 4.35 bid.
confectioners A 4.10 0 4.20. Softs No. 1
4.0004.10. (No. 2 is 5 points lower than
No. 1 an i Nos. 3 to 14 are each 5 points
lower than the preceding grade.)
Dried fruits steady: apricots choice to
fancy 10 % 012 %. apples evaporated
prime to fancy 5%®8%, prunes 20s to 60s
5% bid, 60s to 100s 3%0.4%. peaches
choice to fancy 606%. seeded raisins
choice to fancy 50 6%.
Naval Stores Houses
Oust 'Middle Man'
Government Approval Is Secured
to Plan to Sell Direct to
the Consumer.
SAVANNAH. GA.. April 28.—Naval
stores factors in Savannah and Jackson
ville. who handled 85 per cent of the
product a^ these ports, have arranged,
with the approval of the Government, to
go back to the old method of doing busi
ness, eliminating the middle man. or
such a selling company as the American
Naval Stores Company.
According to J. A. G. Carson, presi
dent of the Carson Naval Stores Com
pany, who returned frorr Washington,
where he was in conference with the At
torney General on the prohibition, the
operation of the plan will revolutionize
the methods of distributing rosin, and
will effectively eliminate Ihe speculator.
Alexander Ackerman, o? Macon, Dis
trict Attorney, accompanied the delega
tion to Washington.
A general meeting of the naval stores
factors of the South has been called
for this city on Friday for the purpose
of perfecting plans to market naval
stores direct to the consumer. The
agreement as at present outlined will af
fect rosins only, but it is said that the
factors may decide later to market spir
its in the same way.
New Carat Weight
Has Been Adopted
Uniform Decimal System Will Be
Employed in Selling Precious
Stones.
NEW YORK, April 28—Lack of
uniformity in the weight of the carat
for different countries has induced
American dealers in diamonds and
other precious stones to adopt a uni
form decimal carat weighing exactly
one-fifth of a gram, or 200 milligrams.
The new weight will be used by
American jewelers beginning July 1.
France, Germany, Austria, Italy,
Spain and Japan ’now use the inter
national carati England has not yet
legalized it.
The new weight reduces the sfce of
a carat by 2^1-2 to 3 per cent.
NATION’S BANK CLEARINGS
IN WEEK SHOW DECREASE
Bank clearings in the United States
for the week ending April 24 aggregated
$3,140,417,000. against $3,102,020,000 the
previous week and $3,192 165.000 in the
same week last year, accor ding to Brad-
street’s tabulation. Cana lian clearings
aggregate $166,956,000, as against $169.-
807,000 the previous week and $167,508,-
000 in the same week last year. Fol
lowing are the returns for the principal
centers, with percentages of change
from the same week last year:
April 24.
New York
. .$1,787,285,000
.. *295,906,000
- 4.2
Chicago
2
Boston
.. 14 2:928,000
-22.0
Philadelphia
.. 155,676,000
6.8
St. Louis
8 >.229,000
7.4
Pittsburg
66,§96,000
46.1
Kansas City
67.925,000
• 8.3
San Francisco
4',408,000
2.7
Baltimore
86,259,000
13.6
Cincinnati
21.301,000
-12.6
Minneapolis
21.102.000
19.4
Los Angeles
21.798,000
9.2
Cleveland
22,307,000
16.6
Detroit
14,116,000
23.8
New Orleans
36,473,000
-15.9
(>maha
15,585,000
1.4
Louisville
12,918,000
5.8
Milwaukee .........
14,278,000
13.8
Atlanta
11,620.000
- 2.8
Seattle
11,628.000
16.3
Portland, Dreg
11,105,000
2.3
St. Paul
9,940,000
3.9
Buffalo
11,419,000
20.3
Denver
8,815,000
6.3
Providence
7,177,000
- 9.6
Indianapolis
7,654,000
2 2
Richmond
7,789,000
- 7.4
Memphis
6,980.000
8.7
Washington, D. C. .
7,530,000
4.3
' (-) Indicates decrease. Others are gains.
GRAIN CLEARANCES.
Following are the grain clearances for
the week:
Wheat, 335,000 bushels.
Flour, 75,000 barrels.
Corn, 7.000 bushels.
Oats, 167,000 bushels.
Wheat and flour equaled 673,000
bushels.
GRAIN VISIBLE SUPPLY.
Following are the weekly visible sup
ply changes in grain for the week:
Wheat, decrease 2.102.000 bushels.
Corn, decrease, 3.635,000 bushels.
< »ats, decrease, 452.000 bushels.
‘ LIVERPOOL GRAIN MARKET.
LI\ ICR POOL, April 28.—Wheat open
ed 1 *®3d higher; at 11:30 p. m the
market was %®%d higher. Closed %
0 %d higher.
Corn opened unchanged; at 1:30 p. m.
the market was %d lower to %d higher.
CDsed unchanged to ',d lower.
Deposit Your Money Where You
Get Both, Absolute Safely and
Highest interest Rate---
4 Per Cent, Compounded Semi-Annually
Strongest State Bank in the South
Capital and Surplus: $1,800,000
TRUST COMPANY OF GEORGIA
Equitabje Bldy. - - - - Pryor St.
Nq\ ,-d
Dec.-Jan.
Jan. - Feb
Feb.-Me
$50,000 FIRE
I ARY IND. A
Opium, Whutii'y *nd Oruc Habit* treated
• t Horn* or KtWiniljrium Rook on s» s jfn
FW*#. DR R WiXM l KY, 24-N. View*
Saultarium. Atlanta. Geoiaia-
P-R-I-N-T-O-R-I-A-L-S I
No. 98.
T kc " Economy of "Quality
is merely a synonym of the old saying that "the best is al
ways the cheapest." Low prices and "quality" will not "yoke"
but the BEST AT THE LOWEST PRICE is the combina
tion to hitch your hopes to We do "QUALITY" PRINTING
at a price that PROTECTS RESULTS!!—and that's equivalent
to PROTECTING YOUR ADVERTISING INTERESTS. To get
deeper into the logic of the thing, phone for our Representa
tive to call. He will
preach "Quality." for
that's our text—hut
he will surprise v o u
with price conserv?
T:sm. for that’s our F) * . * . /”*
Printing L<o
P r,n0l l lle 4S-4S-50 W Ala
Fhones M-1560—2608--2614. Atlanta.
BYRD
THE REPORT
DEATH CLAIMS: “Claims are paid fully and promptly.”
GENERAL: “The books are carefully and accurately kept and
all the Company's records are in first class order. ” “Attention is
being paid to economy in expenditure, consistent with efficiency.* *
“The calculations of the Company's Actuary have been
checked and total shown is in agreement with his figures. ”
The laws of Alabama require an annual examination of the insurance
companies chartered in that state.
1 he foregoing extracts are from the report of W. R. Halliday, official
Examining Actuary for the Alabama Insurance Department, made in compliance
with that law, in his examination of The Southern States Life Insurance Company
of Alabama, on March 29th, 1913.
|| yy « This report is in keeping with the previous
C reports based on an annual examination
January showed an increase of SI** 1 tl v j j r .i- ,
February showed an increase of 35^ 1 he *uncriticised record of this company and
March showed an increase of 28^ the splendid co-operation of the home office should
appeal to life insurance salesmen.
Attractive and Liberal Agents’
Contracts for the right men
“The Company That Has Never Contested a Death Claim"
The Southern States Life Ins, Co,
WILMER L. MOORE. Pr*e. ATLANTAL GA,
f
i