Newspaper Page Text
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TLW'TA (JFOlMil \N* \XI) \T.\YS. MONDAY. APRIL 28. 1913.
CTOPK
u I UufxLAUf
uii DIPS
COTTOK CLOSES
Today's New York
Stock Market
>unt
end
But Public Hostility to Wall; Construction Chief Reiterates He]
Street and Its Business Is Won't Pay More Than $21.75 j
Spot Houses Stop Many Notices.
General Selling Follows Fore
cast of Warmer Weather.
rlmiK
i n the a mo
rwired Saturday that fully
>ul<J be tendered. Some of i
houses were credited with
greater quantity.
WHEAT iS LEADER
AS CEREALS RISE
OCCASIONAL
ODStn/AnOMS
Orleans wires: Sp
eglefied and lower t<
(Ion 1 o sell."
ts reported
sell. More
Below <ire civen the highest, I
lowest and elosit
! stocks to-day, toge
| previous close:
Still Rampant.
for Material.
BY B. C. FORBES.
The New York Stock Exchange
governor* are manifesting unprece
dented vigilance. They have done
more rer.l housecleaning than th#|
public realize. The suspension last
week of two members is significant
of the new order. The Exchange also
probed a complaint against an im
portant banking house, but did not
find that tho facts warranted repri
sals.
• * *
The Hearst papers have vigorously
advocated Stcck Exchange reform
They have also insisted again and
again upen a fuller measure of pub
licity. But the managers of the
Stock E change have no control
whatever over non-members. This
point is too often forgotten.
The Stock Exchange cannot make
men honest. Governments have been
trying to dc that for centuries, but
human naturo 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 rec«nt 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—oi the Federal authorities—
can do anything to stop such fllim-
ftamming is an open question.
* * *
A correspondent has seen a lengthy
commumca'ion which is illustrative
of how a good many people feel to
ward Wall Street. He berates me
for not &colbmg Wall Street enough,
for not “going for’’ Albany politicians
and for once in a while discussing
the better tide of human nature. He
refers to the manipulation of certain
newer shares or. the Stock Exchange,
and then adds:
“This dirty finance is. in my judg
merit by far the most important
question before the American people
to-day. !l seems to pervaae all
classes of bankers, promoters and
corporation officials. Every piece
of news is “discounted” on the Stock
Exchange, which is only another way
of saying that the insiders have
played their official knowledge
against tho stockholders and the
public. Juggling of figures for the
benefit of ■ Totals, speculating in the
stocks of the-r companies, is so com
mon as to be almost the rule; and
Wall Street smiles indulgently, as
who should say, “Yes: it's ciooked
but it's p"rt of the game.”
• * *
“The Stock Exchange appears help
less. 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 tlie i .ncipal corporations for
its existence.
“A few years ago, when Mr. Harri-
man returned from abroad to die, the
head of one of our largest banking
houses went to see him the day be
fore his death, and was then reported
to have given out an interview in
which he said, ‘Mr. Harriman is prac
tically a well man.' This enabled a
rally in Union Pacific to about 211;
but not so many months later, aft^sr
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 * prominent part in civic
and charitable movements among
men who presumably are honest and
honorable. Meantime, arc 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 b:en since?
“Whi'e thA standard of morality
in Wall Street is so low, it 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 of graft.
Incorporation the Stcck Exchange,
periodical reports of earnings, finan
cial conditions, etc., of concerns
whose securities are listed, are steps
toward reform of conditions.
onat ru
e nut
< 'halrman
y Comm i n
ug flu* pur
n H .VI
•tat omen*
l Shelby
nun,
•has
Clayton to-day ga
sharply attacking*
Smith, of the Conn
his attitude ir; urgl
lake asphalt st practically twice the
price at which oil asphalts can be
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 & Smith, of New
York, stating that the oil asphalts
\v» n as good as the lake asphalts.
Raps Smith’s Lack of Data.
“I don’t know any other wh\ to
determine Its worth except by chemi
cal analysis,” said Captain Clayton
But Chairman Smith, after two years
of experience, comes forth as an ex
pert without even this data.
”1 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 board is proceeding in
the dark. They are about to pay ex
orbitant prices with the people’s tax
money for material tuat can be se
cured at just prices ”
Claims Difference in Prices.
He recalled how the city adv rtis d
for bids on asphalt and awarded the
contract to the Texas' Company for
$21.76 a ton for oil asphalt. Then he
stated that the County Commission is
about to pay $44.94 and $39 per ton
for lake asphalt.
“Bv scientific test the cheaper prod
uct proves to be just as good as the
lake asphalts,” continued Captain
Clayton. “Chairman Smith wild he
would take the convicts off the city
streetif the material specified by the
county were not used. I have nothing
to sav about what he does with the
county convicts, but I never will con
sent to a squandering of the people’s
money. The city will not pay more
than $21.75 per ton for asphalt.
“He criticises Atlanta's streets.
They all arc paved with the lake as
phalt he Is Insisting on.”
■ - —
NEW YORK. April 28. There was a
steady tone in the cotton market to-day
at tie opening, prices being 6 points
lower to 2 points higher. Trading was
'i iiii act i\ *■ and sentiment somewhat
mixed. Notices of about 50.000 bales
were Issued this morning, but from the
character < f the buying they were being
veil eared for.
Liverpool ■was a buyer after the open
ing and broken* who frequently act for
spot houses bought old crops
Immediately after the opening, a large
quantity of May contract notices were
issued, 'l ender- were quickly absorbed
by McFadden. Craig and Liverpool, re- j
suiting in the market developing a t
steady tone, with May advancing 12 j
points to Jl.37: July was under aggres- j
slve bnvfrig by tin* larger spot houses
and rallied 13 points to 11.53. while other l
positions 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 wave of selling,
thought to be profit-taking, caused the
old crop positions to sag a fc»w points
under the early best, while new crops
-Imwed weakness, inspired bv free of
ferings from the ring and Wall Street.
Prices dropped about 4 points under the
opening level.
The map indicate- favorable weather
over the entire belt The map shows
fair and warmer, ,vlth the exception of
itionarv temperatures In North Caro
lina and Fast Tesscnnee Cloudy
weather In the Atlantic? with general
to light rains a- needed are shown
Higher tempera!ures will prevail over
the western and central half, which off
sets the prospects for frost, which has
been a stimulating factor in the mar
ket and calming 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 Mnv Wall Street and the ring
crowd continued t*» liquidate. No one
seemed to wont cotton and prices fell 8
to 13 points under the previous close
May dropr»ed to 11.24. July to 11 32. Au
gust to 11 34, 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 and crop reports were
against the market.
The long Interests seem pretty 'well
eliminated and the average trader in
clined to sell further short. New cron
months showed considerable woakfiess.
as the interest has been centered ir the
old crop positions The buying was ex
ceptionally light and concentrated.
At the close, the market was stepdv
with prices a net decline of *» to 1.3 ,
points from the final quotations of Sat
urday
RANGE IN NEW YORK FUTURES
According to special reports sent to
Tin* Journal • f Commerce-, the cotton
hi reage will be increased in Arkansas,
Louisiana and Tennessee. The season
is earlier than last year and the ground
In a fair siate of preparation Weather
conditions have been very favorable Jo
the crop.
The Lake St John levee, twelve miles
north of Kerr:.lay, I«a . went, out yes
terday. flooding lower Tensas and Con
cordia Parishes.
Brown. Drake-ford A Co.. Liverpool,
cable Spot bouses and Continent sell
ing old crops."
Mem phi:
cloudy to
warmer."
"Memphis territory.
prospects clear and
67
34i/a
48' 2
44
37
101
121
Dallas wires; “Texas and Oklahoma
clear' and pleasant."
Following are 11 a m bids: May,
11.28. July, 11.42: October, 11.06; Janu
ary. 11.05.
NKW ORLEANS.*April 28 Hayward
& Clark: The weather map is very fa
vorable It shows cloudy over the \r-
lantics with general rains as needed: fair
and no rain ami warmer over Central
and Western States
* * •
Washington forecast for week: Gen
erally fair weather, moderate tempera
tures during next several days in South
ern States Disturbance now in far
Northwest will move slowly 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
fair, 7 23d: good middling 6.70d; low
middling. 6 54d good ordinary, 6.20d;
ordinary, 5 85d.”
* * *
The following report came from a
well-known crop reporter: “From Dal-
la«*. Shreveport and Jackson to New Or
leans and North and Fast Texas the
soil is in perfect condit’on Planting is
general In Louisiana and Mississippi
planting is general Work is well ad
vanced. Some cotton is tip in the cen
tral and southern parts Dry and cool
weather prevented rapid germination,
but general rains have fallen over the
greater part of Texas, Igmisiana and
Mississippi. Rain was excessive in
part" 1 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. tn. bids: May,
12 12; July. 11.91; August, 11.55; Oc
tober. 11.18; January, 11.21.
Estimated receipts for Tuesday:
191.3. 1912.
New Orleans 3.500 to 4.500 4.536
c
4)
JZ
(A
t I w y
■ 1
o
=
a h t
r;
ATLANTA MARKETS
Ap
My
EGGS- Fresh country, candled, 154$
16c.
BETTER -Jersey and creamery,
i-lb. blocks, 27% ©30c, fresh country,
fair demand, 17%©i22%c.
DRESSED Pol 'Lilt \ -Drawn, head ! HAYWARD A CLARK’S
Hens, 55©56c;
Dc
Jn
in i Ml.
11.46 11.46111.42111.42.11.45 11 38
11.26 11.44111.21011.25 1 1.25-96 11..32-V
11.10 11.40 11.39 11.39 1 1.37-38 11.47-0
1 1.40 1 1.53 11.32 11.37 11.37-38 11.45- 16
11.30 1 1.38 11.20 11.22 11.22-24 11.28-29
11.10111.17111.05:11.05 11.03-05 11.15-17
11.1111.16 10.98 10.99 10.99-11 11.12-13
11.11IJ1.19 11.00 11.03 11.03-04 11.14-15
11.08'1 1.14 10.98 11.00 10.99-01 11.11 -12
11.13 n 13111 03 11.08(11 07-09 11 16-13
Closed steady.
and feet on, per pojind: Hens, 55©55c; j DAILY COTTON LETTER
fries, 2Sc; roosters, tsitfjd; turkeys I .., , v E OKJ.KANS. April 2K I'lie po-
u , (fl . ... | litio.nl situation in Europe at the mo-
ow ng to fatness, -0© 22 %c Intent is very critical and Important de-
POULTRY Hens, 50©56c; velopments are set for to-day. Paris
©.30c, fries 85©40c, broilers I MUVS the financial situation and outlook
LIVE
roosters
30© 36c, puddle ducks 30© 35c, Peking
3<»©40c, geese 50© 69c each, turkeys, ow
ing to fatness. lo©20c.
FRUITS AND PRODUCE.
FRUITS AND VEGETABLES Lem
ons fancy $6.00 grapefruit $2.75© 3.00.
cauliflower 10012fcc lb., bananas,
I are unfavorable, owing to the prospect
ive heavy taxation for the purpose of
; providing for military needs.
Weather conditions over Sunday were
j favorable, except over the northeastern
belt, where night temperatures were too
low.
Liverpool came in with futures about
i I points lower than due on old crops.
3c per j spots were 3 points lower
Galveston
5.000 to 6.000 LUO
TODAY'S PORT RECEIPTS.
The following t
tble shows receipts
at the ports lo-dav
compared with the
-ame day last yea(
1313.
1912.
New Orleans. . . .
1,097
2.656
(Jalveston !
2,909
2.877
Mobile !
1.307
266
Savannah '
1.933
4.103
Uharleston !
381
4.2
Wilmington. . . .1
105
393
Norfolk I
866
2,767
New York '
171
Boston 1
60
10
1 Vnsarola 1
2.846
total |
8.658
16.478
INTERIOR
MOVEMENT.
1913.
1912.
Houston 1
3,550
4.009
A ugusta '
288
406
Memphis
937
2,992
St. Ijouis 1
1.823
1.280
(Cincinnati '
346
1.281
Linie Rock . . . .!
99
Total |
6,944
10.067
—
pound, cabbage Jl©1.10 crate, peanuts I ''«»r market opened about 2 points
per pound, fancy Virginia «,..<ie7r ,M ‘ r a,ul WUM *'arrl«l li points further
r .. . . , ... up on a sudden advance of 20 points in
choice 5%©6c. lettuce fancy $2,500,300, I Mhv in New York. which gave hone of
beets $1.00© l 25 in half-barrel crates, professional bull support in that option,
cucumbers $2 25© 2 50 j The general situation is recognized us
I-gg Plants (scarce) $2.26©>2.75 per so unfavorable that the following of any
crate, pepper $2.50© 2.75 per crate, to- suggested bull move Is more titan rau-
maloes fancy, six-basket ('rates $2.25©) | tlous. This accounts for the rapid loss
2 . .. pineapples $2.50©2.75 per crate, of the advance here as soon as May in
onions 60© Ooc per bushel, sweet pota- New York eased,
toes, pumpkin yum 65© 70c. strawber- •
lies lOfiDia^c per kuart. fancy Floridal
celery $2 50© 3.00 per crate, okra, fan- j
cy 6-basket crates $3©3.00.
FISH.
Bream and
NEW
nation!
ORLEANS COTTON.
In cotton futures:
I STOCK— High.
: Amal. Copper. 73 1 4
Am. Ice Sec... 25
j Am. Sug. Ref. 110' 2
: Am. Smelting
j Am. Locomo.,
I Am. Car Fdy.
Am. Cot. Oil.,
Am. Woolen.
Anaconda
Atchison
A. C. L.
American Can 32
do, pref
Am. Beet Sug. 30 1 4
Am. T. T. ... 129 4
Am. Agriqul
Beth. Steel.. 33'. 2
B R. T 89 4
B. and 0 99' 4
Can. Pacific.. 241' 4
Corn Products 10' 4
C. and O. 64 %
Consol. Gas. .. 129
Cen. Leather
Colo. F. and I
Colo. Southern ....
D and H. ... 157' a
Den. and R. G
Distil. Secur
Erie 28
do, pref. . . 44
Gen. Electric 138 a
Goldfield Cons
G. Western.. 14
G. North, pfd. 126' *
G. North. Ore. 33- T 4
Int. Harvester ....
Ml. Central... 114 3 4
Interboro .... 15' «
do. pref. 52%
Iowa Central
K. C. Southern 24
K and T. . . . 24' „
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
Pacific Mail
P. Gas Co. .
P. Steel Car
Reading . . . 160 1
Rock Island . 21
do. pfd..
R. I. and Steel 23' 2
do. pfd.. . 83 2
S. -Sheffield
So. Pacific .
So. Railway
do. pfd.. .
St. Paul . .
Tenn. Copper.
Texas Pacific.
Third Avenue
Union Pacific. 149%
U. S. Rubber
Utah Copper
U. S. Steel .
do. pfd.. .
V. C. Chem.
W. Union .
Wabash . .
do. pfd.. .
W. Electric
W. Central
W. Maryland
Total sales, 384.000
155
131
367/.
49
104 ; 2
114/2
293/4
1143-s
1093-4
24
35 3 8
98*4
24H
77 8
107
34«/a
17
61?4
60' 2
108
Low.
717«
24/2
110' 2
66%
33 7 a
48' 2
44
36 3 4
100-a
121
30' 2
29’ 8
129
33
88' 2
98
239- 4
10 4
M a
128 «
28
43*0
138 a
14
124- 2
33' 2
114' 4
14*4
51' 2
24
24 a
153*4
1303/a
36' a
101
49
104'2
114
29 * 4
114
103' 4
24
158 *-4
21
34'/ 2
23/2
83' 2
97*4
23%
76
10o7 a
33*4
1/
50-* 4
59-4
107' 2
65 i, 2 65',
10'*
62'/:
10
62/
prices
of
• with
the
Clot.
Prev.
Bid. Close.
72' 4
73
24*4
24%
110%
111
66%
67' 4
34
34
48' 2
48 3 4
43
44 ! ^
20
20
36'%
37
100%
100%
120' 2
121
*1%
32
92' 2
93' 4
29 'a
29' 2
129
129‘ 4
50' 4
51
89
89*4
98
98 4
240' 2
242%
10' 4
10%
64* 8
64' 4
129
129
23%
23%
32'%
32' 4
29
29
157' 4
157
20
20
15' 4
15« a
27*4
28's
43' 4
44
138' 2
138
2
2
14
14%
125%
125' 4
33
33/ a
103
102
114* 4
115
143 a
15
51%
54'/ 2
8
8
23
23%
24
243 4
59*4
59
154' 4
155%
131' 2
132
36' 4
36%
101' 2
101', 4
128/2
127%
49
49
104%
104%
114%
114
29%
30
114%
114
34
24
109%
109
23%
24
160
160
21! 4
21%
35
35' 2
23
23%
83' 4
83%
32
30
98/ 2
98' 2
24
24%
76' 4
77
106%
106%
34 ; 2
34%
15%
17%
34
34%
148%
149%
61
61
5L2
51%
60%
60 a
107' 2
108
31' 2
31' 2
65' 4
65%
3
3
10
10' 8
61/2
62%
52
52
38; 4
38
Firm Cables and Bad Weather
Cause Heavy Buying by Big
Commission Houses.
ST. LOUIS-CASH QUOTATIONS.
Wheat No. 2 red
Corn—‘No. 2
Oats No 2
.110 ©112%
. 58%
. . 35
LARGE INTERESTS
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
weather in the United Kingdom and the
backward seeding there. Northwestern
receipts whre considerably in excess of
a year ago and the sarrje may be said
of the world’s shipments
Corn was unchanged to % to -,c
higher on the unsettled weather in the
Argentine, which is unfavorable for the
movement and is likely to create a de
mand from abroad for American corn.
<>a:s were unsettled with Heptember
strong and other months weak.
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* 2 c
lower early.
Wheat closed strong at about the best
price reached, snowing gains for the day
of %c to 3 1 o w ith* 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.
‘■•‘>rn closed 3 8 c to %c higher and oats
were up %c to ' 4 c.
Cash sales were corn 135,000 bushels
and oats 95,000 bushel*
Provisions closed lower on the severe
break in hogs as the day wore away.
CHICAGO GRAIN MARKET.
Previous
High.
Low.
Close. Close.
WHEAT—
May 9;:%
92%
92%
92
July 91: %
92%
92%
91%
Sept 9L*
92
91
CORN—
May 55%
.=.412
55 %
54%
July..*... 55%
56*
55
55%
Sept.... 56 %
•VC,
56%.
56*4
OATS—
May 84 s 4
34 >4
34%
34 %
July 34%
33%
34%
34%
Sept 34%
33%
34%
34
PORK—
May.... 19.52%
19.45
19.45
19.62*2
July.... 19.57%
19.50
19.50
19.67 %
19.42%
Sept.... 19.40
19.25
19.30
LARD—
May.... 10.87%
10 82%
10.85
10.90
July.... 10.85
10.72%
10.80
10.82%
Sept.... 10.85
10.75
10.77%
10.82%
RIBS—
May.... 11.25
11.20
11.22%
1.1.20
July.... 10.92%
10.85
10.9()
10.95
Sept.... 10.75
10.67%
10.72%
10.77%
CHICAGO CASH QUOTATIONS.
CHICAGO. April 28.—Wheat No. 2.
I.O6V2© 1.07*4: No. 3. 1.00© 1.02; No. 2
hard winter. 93%@95; No. ?, hard winter,
92©94%; No. 1 Northern spring." 93%©<
95; No. 2 Northern spring, 91% @93%;
No. 3 spring, 89© 90.
Corn No. 2, 57©)57%; No. 2 white, 58
©58' : .; No. 2 yellow. 56© 57%; No. 3.
54-% ©55%: No. 3, white. 57@57%; No. 3
yellow. 54©56: No. 4. 53%©54%; No.
4 white, 5444 © 55; No. 4 yellow, 53%©)
54%.
oats—No. 2 white, 35%©36; No. 3
white. 34%© 35. No. 4. 32; No. 4 white,
33%©34; standard. 35%©35%.
PRIMARY MOVEMENT.
The head of a corporation whose s
curities have slumped millions of
dollars since recently floated
ventured info Wall Street last
wpek and was roughly handled.
One banking firm caught in the
smash-up nearly came to blow s
with him. The end is not yet.
* * V
Financial condltionj in Mexico are
expected to attract unpleasant
notice. Things are nearing a
deadlock, bankers learn.
♦ * *
From a well-informed source it %
learned that the enormous stork
holdings of a veteran multi-mil
lionaire are being sold whenever
the market will absorb them.
This throws light <>n 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, 90 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 she 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 railroad presidents in
reference to the men's demands
for higher wages. The heavier
the addition to pay-rolls force J
upon the roads, the less excuse
will the Interstate Commerce
Commission have for refusing an
offsetting increase in freight
rates.
* * *
The bond won ' is about to turn, ic
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
day,” began one man. “What?”
ejaculated the other. “I mean
J. P., junior,” hastily added the
speaker. Wall Street hasn't yet
becom»a accustomed to a new “J.
P. Morgan.”
| 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 ami Jackson
ville, who handled 85 per cent of the
product at these ports, have arranged,
with the approval of the Government, to
go back to the old method of doing busi-
D6M, eliminating the middle man. or
such a selling company us the American
Naval Stores Company.
According to J. A. G. Carson, presi
dent of the Carson Naval Stores Com
pany. who returned from Washington,
where lie was in conference with the At
torney Genera! on the prohibition, the
operation of the plan will revolutionize
the methods of distributing rosin, and
will effectively eliminate the speculator.
Alexander Ackerman, of Macon, Dls 1 -
trict Attorney, accompanied the delega
tion to Washington.
A general meeting of the naval stores
factors of the South has been called
f<*r 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»
feet rosins only, hut it is said that the
factors may decide later to market spir
its in the same way.
WHEAT—
1913. |
1912.
Receipts
1.369,000 I
555,000
Shipments
501.000 '
431,000
CORN— ! |
Receipts
538.000 1
977.000
Shipments
426,000 j
610,000
CHICAGO CAR LOTS.
Following are the receipts for Monday
and estimated for Tuesday:
NEW YORK PRODUCE MARKET.
NEW YORK, April 26.—Petroleum
firm; crude Pennsylvania 2.50.
Turpentine steady; 42 bid.
Rosin quiet; common 4.75 bid.
Wool quiet: domestic fleece 28©30,
pulled scoured basis 38© 55, Texas
scoured basis 48© 55.
Hides dull; native steers 16%© 19%,
branded steers 15%©1576.
Coffee steady; options opened ? to 5
higher, Rio No. 7 on spot 11%©11%.
Rice steady; domestic ordinary to
prime 4%%5%.
Molasses steady; New Orleans open
kettle 35©50.
Sugar, raw quiet: centrifugal 3.36©
3.39. muscovado 2.86© 2.89, molasses
sugar 2.61©2.64.
Sugar, refined quiet; fine granulated
4.20© 4.35. cut loaf 5.05©5.15. crushed 4.95
© 5.05, mold A 4.60©4.70, cubes 4.45©4.60,
powdered 4-.30©4.45, diamond A 4.35 bid,
confectioners A 4.10©4.20. Softs -No. I
4.00© 4.to. (No. 2 is 5 points lower than
No. 1 an1 Nos. 3 to 14 are each 5 points
lower than the preceding grade.)
Dried fruits steady; apricots choice to
fancy 10%©12%, apples evaporated
prime to fancy 5%©S%. prunes 20s to 60s
bid, 60s to l()0s 3%©4%. peaches
choice to fancy 6©6%, seeded raisins
choice to fancy 5@6Y 2 .
! Mv
j 3ne
I Jly
Ag
“But the real
vital
sue is plain
per h
hundrt
honesty; reforming conditions, after 'medicated
all. only reforming the machinery.|
Wo must find means of compelling
honest and disinterested service in
the directors of our large corpora
tions, and plain honesty in the offi
cers of our bank.”
I' IGli Bream and perch, 7c pound;
snapper. J0o pound; trout. 10c pound;
hluetlsh, 7c pound; pompano, 20c pound;
mackerel. 7c pound: mixed fish 5©6e
pound, black bass, 10c pound, mullet, $12
per barrel
FLOUR AND GRAIN. j Snt
FLOUR I’ostell’s Elegant $7.75, *>
Omega $7 50. Carter's Rest $7.75, Qual
ity (tines! patent) $6.65; Gloria (self
rising 1 $6.50. Results (self-rising), $6.25;
Swans 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-
es: patent) $5.85, Puritan (highest pat
ent) $5 86. Paragon (highest patent)
$5 8;>. Sunrise (half patent) $5 25. White
Cloud (highest patent) $5.50. White
Daisy (high patent) $5.50, W hite Lily
' high patent ) $5 50, Diadem (fancy high
patent) $6.75, Water Lily ipaient) $5 16,
Sunbe.'.m $5.25, Southern. Star (patent)
$5 26. Ocean Spray (patent) $5.25. Tulip
(straight) $4 If*. King Cotton (half pat
ent) $5. low grade 98• pound sacks $4.
GROCERS.
SUGAR Per pound: standard granu
lated 6c. Nett York refined 4%c, plan
tation t 85c.
COFFEE — Roasted (Arbuckle’s)
$24.50, A A A A, $14.50 in bulk; Iti bags and
barrels. $21: green 20c.
RICE--Head 4%©5%c, fancy bead 5%
©6%according to grade.
LARI)—Sliver leaf 13c pound. Sooco
8*x<* pound. Flake Whit* 8 %c pound,
Cottolene $7.20 per case. Snowdrift $5.85
per ease.
SALT One hundred pounds, 53c: salt
brick (plain) per case, $2.25: salt brick
I 0
12 10 12
K
33
t c
I a. 5
.19 12.00 ’2.01 12.12-01 12.10-11
11.94-96 12.04-06
' 1 93 11 .!•:• 11.77 11.77 11.78-79 11 90-91
1 1.57 1 1.64 1 1.43 11.43 11.43 11.55
11.18-20 11.28-29
11.21 11 26 11.08 11.09 11.08-09 11.18-19
1 1.08-09 11.18-19
I 1.23 11.25 11.08 11 08 M.08-09 11.18-19
II -6 11.26 11.13 11.13 11.10-12 11.20-21
i I | 11.09-11 H.19-,21
■ I ! :11.88 11.98- 12
Closed steady.
LIVERPOOL COTTON MARKET.
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 posi
tions, but opened quiet, at a net decline
of I to 1 % points. At 12:15 p m . the
market was steady 3 to 4% points lower
on near positions ami 2 to 2% points
lower on late months. Later the market
advanced % point from 12:15 p m
Fair business doing in spot cotton at
3 points decline; middling 6.7©d; sules
s.CKH) bales, including 7,700 American;
Imports 6,OOO bales.
Port receipts are to-day estimated at
8,000 bales, compared with 12.198 last
week and 16.444 bales for the corre
sponding week last year, against 14 016
bales for the same week the year before.
Futures opened easier.
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. MUlet: 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%.
('harleston. quiet; middling 12c.
Wilmington, nominal
Little Rock, steady: middling 11%.
Baltimore, nominal: middling 12%.
Memphis, s'eady; middling 12%.
St. Louis, dull, miiidling 12%
Houston, steady; middling 12%.
Louisville, firm; middling 12%.
Greenville, ouiet: middling 11%.
/harloite, steady; midtiling 12c.
COTTON SEED OIL.
New Carat Weight
Has Been Adopted
Uniform Decimal System Will Be
Employed in Selling Precious
Stones.*
NEW YORK, April 28—Lack of
uniformity in tlie weight of the carat
for different countries has induced
American dealers in diamonds and
other precious ptones to adopt a uni
form* decimal carat weighing exactly
one-fifth of a gram, or 200 milligrams.
The new weight will he used by
American jewelers* beginning July 1.
France, Germany, Austria, Italy,
Spain and Japan now use the inter
national carat. England has not yet
legalized it.
The now «ight reduces the size of
0 carat b 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.(K)0, against $3,402,020,000 the
previous week and $3,152.165.(XK) in the
same week last year, according to Brad-
street’s tabulation. Canadian clearings
aggregate $166,956,000, as against $169,-
80.7,000 the previous week and $167,508,-
000 in the - same w r eek last year. Fol
lowing are the returns for the principal
centers, with percentages of change
from the same w r eek last year:
April 24.
New York
Chicago
Boston
Philadelphia
St. Louis
Pittsburg
Kansas City
San Francisco
Baltimore
Cincinnati
Minneapolis
Los Angeles
Cleveland
Detroit
New Orleans
Omaha
Louisville
Milwaukee
Atlanta
Seattle
Portland, Oreg. ...
St. Paul
Buffalo
Denver
Providence
Indianapolis
Richmond
Memphis
Washington, D. C.
.$1,787,285,000 - 4.2
295,906,000
_ .■»
141928,000
-22.0
158,676,000
6.8
82,229,000
7.4
66,896,000
46.1
57,925,000
8.3
4:*,408,000
2.7
26.259,000
13.6
24.301.000
-12.6
21.102,000
19.4
24.798,000
9.2
22,307,000
16.6
14,116,000
23.8
16,473,000
-15.9
15,585,000
1 4
12,91.8,000
5.8
14,278,000
13.8 1
11.620,000
- 2.8
11,628,000
16.3
11.105,000
2 1
9,940,000
3.9
11,419,000
20.3
8,815,000
6.3
7,177,000
- 9.6
7,654.000
2.2
7,789.000
- 7.4
6.980,000
8.7
7,530,000
4.3 ,
Others are gains.
Colton seed oil quotations:
i tpening
Spot . . . . . .! 1
April
May
June
July
August ....
September . . .
October ....
November . . .
(Mos *d stead >
6.92© 6.9:
6.94 ©6.96
6.97© 6.98
7.03© 7.04
7.02© 7.04
4i,67
6.50© 6.52
6 10 ©6 42
tales 21.400 barrel
Closing.
6"99© 7.06~
0.97© 7.01
7.01© 7.03
7.03© 7 04
7.09© 7.10
6 09© 6 10
6.77© 6 78
6.51 © 6.53
NEW YORK COFF-rE MARKET.
' o ff e e quota lions
per
per case
’ per case,
! 30c: 25-1!
Well some of us have been trying I
our best to preach honesty, and to
criticise dishonesty. But miracles
cannot be wrought in the twinkling
of an eye. It »s some consolation to ;
know that the trend is in the right V* 1 5;: ::o l u r *eap $1
direction. ! 4 pt ’: ' R umford baking powder
per case. $4 85; wait red
ndredweight $1; .salt white
weight 90c. Granocrystal.
25 lb. sacks, 75c: ^ult ozone,
30 packages, 90c; 50-lb. sacks,
sacks 12c
MISCELLANEOUS Georgia cane
«ynq* 37c, axle grease $1 75. soda
crackers 7%c pound, lemon crackers 8c.
ster 7c. tomatoes (2 pounds) $1.55
pounds) $2 2;,. navv beans. $3 25;
Lima beans ?%<-. shredded biscuit $9 60.
polled uats $3.90 per case, grits (bags)
pink salmon $7. cocoa S80. roast
8<). syrun 30c per gallon, Sterl
April ....
Opening
Range 2
. 6.47%-6 44
P. M.
6.46
Prev
Close.
6 48 %
Apr.-May
. .6.40%-6.39
6.40
6.44
May-June .
. .6 12%-6 39%
6.40
6.43%
June-.Inly
. .6.40%-6.37%
6 38
6 41 %
July-Aug. .
. .6.37 -6.34
6.36
»; 38
Aug.-Sept. .
6.27 -6.24%
6.26
6.28
Sept.-Oct. .
. .6.15 -6.13%
6.13
6.15%
<»ct.-Nov. .
. 6 0S 6 06**
6 06%
6.08%
W>\ - Dec. .
. .6.05 6 03%
6 05 V*
Deo.-Jan. .
. .6.02%
6,04 %
Jan.-Feb. .
.6 03 -6 01%
6.03
Ueb.-Meh. .
. 6 03
6.04 V,
January.
February. . . .
April
May
June
July
August . . .
September. . .
October . . .
November. . .
December. . .
Closed steady
Opening. | Closrrig.
jll.49©lt.l
11.50© 11.i
i 11.53©ll.i
11.10 1.1.15© 11.
11.18© 11.25 11.23© 11 :
11.88 L1.87011.:
I1.35lfll.40 11.37©1I.:
11.46 1 1.48© 11*
1 1.48© 11.-
11.48© 1 L-
1 1.46© 11.47 U *8© 11.
Sales. 50.750 bags
War News Abroad and California
Situation Blamed for Break,
Inactive Issues Weak.
By CHARLES W. STORM.
NEW YORK, April 28. Weakness was
dominant at the opening of the stock
market to-day and losses ranging from
ttactions to about 2 joints woe scored
h> many important issues. Trading
was v*r\ active. 1'he pressure resulted
from the European wai scare
Among the losses were Amalgamated
(’upper j.%, American Gan 1%, Ameii-
> jui Smelting l, Canadian Cacinc L',s, St
Haul i. Erie %, Illinois Central %, Le
high \ alley i *. Missouri l’acinc ».
I mted {States Steel common .t, Utah
t opper **. Union 1‘acitic %, Reading 8
aim I’ennsylvama %.
After a uall hour s trading, a stronger
tone developed and some oi the stocks
luuie partial recoveries. New York Cen
tral advanced •», while Northern i'a-
eifle gained %. American Can recovered
neany all its decline. Missouri Facilic
recovered and gained.
The curb market was easy.
Americans in London were above New
York parity, but did not give assurance
of stability. Canadian Uacific in London
was weak on Continental selling
Severe losses were recorded in the
market during the forenoon Lehigh
Yalle> lost 1-jj to 154%. Canadian
Uacific declined 2 points to 240%. .St,
Haul broke a point to 108. United .Mates
ict'l % off. Amalgamated Copper was
off •%. Fractional losses were recorded
in all the other Issues.
Money loaning at 2%© %.
There was not much change in the
last hour. Amalgamated Cupper sold
around 7 3 for a gain of % over the mid
day level. Steel crossed 60 for a gain of
s Reading. United States Rubber.
American Can and American Smelting
made fractional gains over the noon
range Lehigh Valley declined Trading
was quiet.
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 weeklv visible sup- I
ply changes in grain for the week:
Wheat, decrease, 2.103.000 bushels. I
Corn, decrease. 3.635.000 bushels
«‘ats, decrease. 452.000 bushels.
LIVERPOOL GRAIN MARKET.
LIVERPOOL, April 28.-Wheat open- !
e<l % © 3d higher; at 11:30 p. rn. the j
market was %© 7 8d higher. Closed % 1
© -k(1 higher. j
Corn opened unchanged; at 1:30 p. m.
i .e market was %d lower to %d higher. I
Closed unchanged to Hrt 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
Capita! and Surplus: $1,800,000
Equitahje Bldy.
Pryor St.
Ft
50 (i
THE WEATHER.
VT.TON, April 28 - The w ent I
* settled with showers dur- *
36 hours In the Upper Ohio >
Lower Lake region and the i *
and New England !
r weather will prevail to- I Cattle Re< <
foesday In the South At- 25c hover H.
'• !•" Gulf States, the Mis j heifers. 3 35© I
ey and Upper l uge region ;*:;, »*<•(• T*
re will 1*. lower to-night 7 oe© 9 0"
“ in New England and east- sheep Keo
K and to-night on the mid- lower. Nhtu.
coast. It will risH Tuesday jambs. 6.40© 8
h Atlantic and East Gulf J
Mississippi and Ohio Yal-
Upper Lake Region. , GARy> IX
UNTIL 7 P M. TUESDAY tenter of u
’loudy to-night; Tuesday I stroyed one
wlv rising lemtverature. » 1
LIVE STOCK MARKET.
C\Co. Vprll 28 -Hogs -Receipts
'l. ‘ vet : •) to 25c lower. Mixed
utche»> 8:u. ©8.75; good heavy.
T< . 'o q;h heav\. SS0fr8.5O; light
1 73 pigs* 6 90©8 30; bulk. 8 45©
,e 109 MMN4
' ITfc AVk. in
1 TAYLOftl
FEED I
31.000 Market. 15 to
7 25©8.90: cows and j
stockers and feeders. 1
6.75© $.00; calves, \
35 «>A0 Market 19c i
J Western. 5.40©6 96. i
$50,000 FIRE IN GARY. IND
district '.c-
ock, with a j
| COM* AIT
U»ra «kj >• einr Wn*» %oJ»j
MALLARY TAYLOR IRON WORKS
7. Mncon. Ga.
g Fnftiwu. B-'UeM. SltlngW? MaWuium. C’v
T.
of $50,000.
I Opt* n». and Dfi« ll’hit*
lat H-me or Sanitarium. BocV- on ;
Ifw*., PK R M. W OOLLCY, 2«*N, Vlctai j
18«i‘lt«nur.i. Atlanta. GcoiV*. , 1
i P-R-I-N-T-O-R-I-A-L-S I
No. 98.
TKe Economy of Quality
is merely a synonym of the old saying inat "the best is al
ways the cheapest." Low prices ami "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—but.
he will surprise you
with price conserva
tism, for that’s our D t. « w C* ^
Jrrinting \^o.
piincip.e 46-48-50 W Ala.
Phones M-1560—2608—2614. Atlanta.
BYRD
DEATH CLAIMS: “Claims are paid fully and promptly ”
CmENERAL: “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.
The 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.
HOW W© GrO re ** 0rt ' S 5n * <eep ' r,g w * i * 1 t * ie P r ®vious
reports based on an annual examination
January showed an increase of 51 e * -pL • • i , r «• ,
February showed an increase of 35^ 1 he uncriticised record ot 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 lias Never Contested a Death Claim”
S3t/
III IV1
WILMKR L. MOORE. Pres.
The Southern States Life ins, Co,
ATLANTA- GA.