Newspaper Page Text
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li.uvoi iS bi .mi.u AiUi^itiOAiN, AiLAivTA, UA., iiUADA\, MAY 4, 11)13.
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Latest Reports From the World’s Great Markets-—Cottony Grain, Stocks
COTTON GOSSIP
FURTHER DECLINE
May and July Quoted Twenty
Points Below High Level
of the Week,
DRY GOODS TRADE AFRAID
Opinion Now Well Formulated as
to Area Seems to Indicate
36,000,000 Acres.
WEEK’S RANGE.
Following Is the statistical position of
cotton on Friday, May 2, as made up by
The New York Financial Chronicle:
j This
J Week.
Last
Week. |
Last
Year.
Via. supply..
American .
In siglit w’k
Hincu Sep. 1
Port stocks.
: Port rec’pts
i Exports . . .
Int. receipts
, hit. shlpm’s
Int. stocks.|
4.631,070
3,201,070
111,552
12,442.320
556,005
71.230
168,829
31,380
62.471
448,000:
4.817.408
3.333.408
133,611
12,330,768!
665,224]
81,197
107,388
41,212
71.7961
479,150!
4.916.221
3.729.221
111,853
14,454.733
660,502
75,737
97.668
49,945
80,653
284,000
Following is the Liverpool cotton
j statement lor the week ending Friday,
| May 2:
1913.
1 1912.
; Week's sales
Of which American ...
For export
For speculation
Forwarded
Total stocks
: Of which American . .
1 Actual exports
Week's receipts
Of which American ....
Since Sept. 1
Of which American ...
Stocks afloat
Of which American ...
&0.0OC
43,000
1.000
1.900
89,000
1,168,000
978,000
JO,000
80,000
3,97(>,000
3.189,000
148,000
121.000
56.000
48.000
1,700
5,000
i 108.000
1,355,OcO
1.242.000
16,000
110.000
j 90,000
4,538,000
3,931,000
204,000
158,000
NEW YORK.
Net
NK^V YORK, May 3.—The cotton mar-
ket made a further decline to-day, the
old crop months, May and July, being
quoted at about 20 points under the
highest levels of the week. There was
no particular feature to the trade* which
seemed to be Influenced mainly by fa
vorable crop news and lack of ‘activity
in the Southern spot markets.
Liverpool cables were better than ex
pected. but the market failed to make
even a temporary response to this in
fluence. The Financial Chronicle, in
its weekly report on weather condi
tions. states that diy weather has pre
vailed over large sections of the belt
this week, and where rain has fallen
the precipitation has been light.
The Financial Chronicle, in its re
port on the cotton goods division of
the dry goods trade, states that con
fidence in the future on the part of
t he dry goods merchants is badly shaken
\v the proposed tariff. The market is
discounting the effect of the drastic cuts
to be made.
Fair and warmer weather is predicted
for those areas of the cotton belt lying
east of the> Mississippi River
After a decline during April in the
May future of over $5 a bale, the mar
ket made an upward turn late in the
week of nearly 40 points in that month
and in July. This result was caused
by the fact that a substantial deple
tion of the local stock was definitely
promised through engagements for ex
port. This forced a snort interest to
cover, and had no other significance,
though a sympathetic rise in the new
crop months took place. The rise in
the new crop futures was partly the
result of somewhat less favorable crop
reports from the eastern cotton belt
and from the northern part of the west
ern areas. Low temperatures and lack
of rain seems to be holding back the
growth of the plant. Crop conditions as
a whole, however, stand better than on
the corresponding date last year.
Opinions on the acreage increase have
become more definite during the week
and the general consensus now is that
the area contemplated and actually
planted already will exceed last sea
son’s by fully 3 to 4 per cent. This
might mean that an excess of 35,000,000
acres will finally be under plant and
laid by during June. Such an acreage
would justify, under normal conditions,
a yield of between 14,000,000 and 15.000,-
‘ )o bales of lint cotton, exclusive of
lintejrs.
Open.
High.
Low.
Last
Sale.
Close.
£?
£u
M’y 111.41111.42111.36111.35111.36-36I11.41-42
Jun | ' Jll.40-42 11.46-48
J’ly 11.50 11.51111.43(11.45 11.45-46 11.51-52
A’g 11.28(11.28111.22111.24 11.23-24111.29
Sep 11.02111.02 11.00 11.00 10.98-99 11.01-03
Oct 10.95(10.95 10.88(10.93 10.92-93 10 95
Dec 10.97 10.97; 10.90; 10.9310.93-94 10.96-97
Jan 10.93:10.93110.89 10.90 10.90-91 10 94-95
M’r : 10.99j 10.99110.97110,97110.99-01.11.03-04
Closed steady.
LIVERPOOL COTTON MARKET.
LIVERPOOL, May 3.—Due 1% to 4
points lower on near positions and 1 to
1 % points lower on distant months, this
market opened steady, at a net decline
of 1 to 2 points. At the close the market
was steady, net unchanged to point
higher than the final figures of Fridav.
Spot cotton steady, at 4 points decline;
middling 6.68d; sales 8,090 bales, includ
ing 7,000 American: sales Include 4.000
hales made late yesterday; imports 13,-
,000 hales, including 8,000 American.
Port receipts are to-day estimated at
9,000 bales, against 7.909 last week and
2,734 for the corresponding week last
year, compared with 7,630 bales for the
same week the year Derore.
Futures opened steady.
Opening Previous
Range. Close. Close.
May
.6.39i/o.
-6.38
6.41%
6.41
14
May-
June.. .,
6.40“
-6.38
6.41
6.41
#une
-July. ..
6.37
-6.36%
6.39%
6.39
Julv-
Aug....
6.34
-6.33
6.36%
, 4
Aug.
-Sept...
6.23%
-6.23
6.26
6.12
Sept.
-Oct.. . .
6.11
-6.10
6.12
6.05
Oct.-
•Nov . . .
6.04
-6.03
6.05
6.02
%
N'ov.
-Dec ...
6.01 %
6.02%
6.01
%-
Dec..
-Jan. .
.6.00
6.01 %
6.01
Jan.-
Feb
6.00
-5.99
6.01
6.02
Fch.
-March.
6.02
6.02
6.02
%
March-April.
6.02%
6.0216
Closed steady.
NEW ORLEANS COTTON.
NEW ORLEANS. LA.. May 3.—Cotton
futures declined somewhat to-day on
iX .'rr favorable weather prospects and on
the drop in French rentes. There was
no anxiety to sell, however. Weather
prospects were excellent and were a
controlling factor. Liverpool was bet
ter then due. Rumors of labor trou
bles in the Lancashire spinning district
ere persistent and cause some appre
hension. The trade here believes also
H at English interests will re-enter their
May contracts in New York.
NEW ORLEANS COTTON.
Quotations in cotton futures;
M’y
|11
.98!
12.03 11.98 12.
.03
12
.00-
-03
12.0!
-05
.1 tin !
111
,8b-
-88
11.88
J’ly
11
.83:
\f: 1 1 1.80 11
.82
11.
.82-
■83
11.84
-85
A’g
11
44
D.44'11.3911
.42
11
.41
-42
11.44
-45
Sep
11
.02
11.02 11.02 1 L
11
.12-
-14
11.15-
-17
Oct
111
05
11.05110.09 j 11.
.02
11
.01-
-02
11.CM
-do
X’v j
,11
.01-
-03
11.04
-05
Dec
■11
.02
11.0210.
,6i
‘11
.00-
•01
11.03
-04
Jan
ill
.05
ll.06u.05in
,05
ill
.05-
-06
11.07-
-08
Fb
j1l
.02
-04
M’r
111.
.10
11.09-
•io
dosed steady.
NAVAL STORES.
W YORK. May 3. Turpentine
4P.,c: ai Savannah, 38Vi ^ ; Jt>V-c*: lar oil.
barrels. $5.50@6.7o; rosin, C to G, steam
er, $4.75.
High.
Low.
Close. Ch’ge
May .. .,
11.59
11.22
Fri.
Mon.
11.35-36 -3
July ..
. 11.65
11.38
Fri.
Wed.
11.45-46 ugd
October
. 11.06
10.81
Fri.
Wed.
10.92-93 - 20
NEW
ORLEANS.
May.. ..
.12.19
11.90
Mon
Wed.
12.00-03 -.10
July.. ..
11.99
11.65
Mon.
Wed.
11.82-83 -8
October
.11.26
10.91.
Mon. Wed.
LIVERPOOL.
11.01-02 -.17
May-vJune
. .6.45
6.28%
Fri.
Wed.
6.41 -.2%
July-Aug.
6.40% 6.24
Fri.
Thur,
6.39% -.1%
Sept.-Oct
. 6.15
6.02%
Mon.
Wed.
6.12 -.3%
1913.
1912.
New Orleans ....
2.325
1,331
Galveston
3,166
2,752
Mobile
536
782
Savannah
2,443
2,595
Charleston
756
44
Wilmington
305
129
Norfolk
358
999
New York
64
267
Boston
92
Port Arthur
215
Various
28
10
Totals
10,196
9.001
INTERIOR
MOVEMENT.
1913.
1912.
Houston
1,560
1.490
Augusta
575
314
Memphis
397
798
St. Louis
1.809
2,264
Cincinnati
1.089
508
Little Rock
1,002
Totals
5.430
5,376
d
Cl
a
ti
0
3 -j
»
0
« 0
S-, .—
O
-2 r/j
r J
CmU
Estimated receipts for Monday:
1913. 1913.
New Orleans ....1,800 to 2,200 1.207
Galveston 13,800 to 4.800 2,669
PORT RECEIPTS.
The following table shows receipts
at the ports Saturday compared with
the same day last year:
THE WEATHER.
WASHINGTON. May 3.—The weather
will he unsettled with showers and thun
derstorms during the next thirty-six
hours in the region of the Great Lakes,
the Ohio and Mississippi Valleys, and
the East Gulf States, and fair and
warmer tonight and Sunday in the At
lantic States.
Temperatures will he somewhat lower
Sunday in the upper lake region and the
Mississippi Valley.
Forecast until 8 p. m. Sunday:
Georgia: Fair to-night and Sunday.
SPOT COTTON MARKET.
Atlanta, nominal; middling 11%.
Athens, steady; middling j2c.
Macon, steady; middling 11%.
New Orleans, steady; middling 11 !4
New York, quiet; middling 11.85.
Philadelphia, quiet: middling 11.95.
Boston, quiet: middling 11.85.
Liverpool, steady; middling 6.68d.
Savannah, quiet; middling 12c.
Norfolk, steady; middling i2c.
Augusta, steady; middling 12c.
Mobile, steady; middling 11%.
Galveston, steady; middling 12%.
Charleston, quiet; middling 11%.
Wilmington, nominal.
Little Rock, dull; middling 11%.
Baltimore, nominal; middling 12c.
Memphis, quiet; middling 12%.
St. Louis, quiet; middling 12%.
Houston, steady; middling 12%.
Louisville, firm: middling 12%.
Greenville, quiet; middling 11%.
Charlotte, steady; middling 12c.
Strength Evident
In Wheat Market
Rains In Southwest Fail to Cause
Expected Recessions—July
Corn Quietly Absorbed.
ST. LOUIS CASH QUOTATIONS.
Wheat—No. 2
Corn—No. 2
Oats—No. 2
red
.105 ©107
. 57
By JOSEPH F. PRITCHARD.
CHICAGO, May 3.—It was expected
that with rains in the Southwest where
needed, wheat values would tumble in
an attractive manner to the bears. While
it is true that there were losses of %
© •%c to-day, there was some heavy re
covery from the bottom prices reached
and the undercurrent was certainly one
of strength.
There are many conservative men in
the wheat trade who are of the belief
that wheat is worth the present price,
and this, too, in the face of the most
promising crop outlook In the South
west ever known.
There is a general belief in the trade
that scattered longs generally have liqui
dated, and in the absence of "hedging”
sales from any direction the situation
may be called strolnger. There was
some wheat bought to-day on the knowl
edge that there will be a set of bullish
routine statistics the coming week. The
visible supply will decrease freely Mon
day. the world’s shipments will be small
er than a year ago. Chicago stocks will
decrease still further and there will he
a free falling off in the amount of bread-
stuffs on ocean passage for the week
just closed.
The buying of wheat to-day was no
ticeably strong. On the other hand, the
selling was considered rather wea. B.
W. Snow, who is now in Crawford Coun
ty, Kansas, claims that chinch bugs are
destroying the wheat in that section,
and the house with which he is con
nected—Bartlett-Frazier- bought consid
erable grain on this information. John
Inglis wired from El Reno, Okla., that
while the bugs are in the wheat fields
in large numbers, they have up to the
present tiem done no serious damage.
There was little in the corn trade of
moment. The plant is above the ground
in Oklahoma, and Is now being har
rowed. In Nebraska the weather was
reported as colder, but field work is be
ing pushed. There was a killing frost
at North Platte, Neb., on Friday night.
The South is reported as a good buyer
of the cash article at St. Louis.
A noticeable feature in the corn mar
ket during the past few days has been
the quiet but persistent absorption of
the July that has been offered. This
buying was doubtless for the coterie of
men who have liquidated their May
holdings and secured their profits.
May oats ruled very strong, but the
deferred futures eased off fractionally
on the rains. Country offerings were
a little freer.
The larger men in the provision trade
are friendly to both lard and ribs.
Charles Roberts was a liberal buyer of
September lard and ribs and other prom
inent brokers were buyers of July lard
and ribs, all of which was believed to
have been for Armour and Swift.
CHICAGO GRAIN MARKET.
Grain quotations:
Saturday'sNewYork
Stock Market
The following table shows the
highest, lowest, and closing
prices of stocks sold on the New
York Stock Exchange Saturday,
together with the net change
from Friday’s close:
Business Is Above
Spring 1912 Level
Great Lakes and Pacific Coast
Regions Fare Best; the South
east Lags Behind.
“The best business conditions are
still in the States touching the great
lakes and on the Pacific Coast. The
poorest conditions are in the South
eastern States, not including Florida,
and in the recently flooded districts.
The average of all business Is far
above the situation at this time in
1912,” says the Fulton National Bank
in its April trade letter.
“With business generally so active
and money so well employed that
none is available for the financing of
new concerns or for stock exchan ;e
operations, there should be little room
for complaint in manufacturing and
mercantile lines. # Prospective tariff
reduction is holding back some lines
but the total volume of business s
far above the average for this season.
Some decline In imports and in man
ufactures will be apparent until the
tariff bill has been disposed of. Jf
the matter is properly handled by
Congress, there need be no upsetting
of business and the effect of such tar
iff reduction as may be made wi.l
soon be dissipated in the increasing
business which will naturally result.
“Approximately one-third of the
cotton, one-fourth of the corn, ana
one-third of the oats are in the
ground. Too much water in tye
Southeast and Northwest has de
layed planting and a considerable
part of the recently flooded district
is not yet in % shape to plant.
“The average price of all commodi
ties has steadily ^decreased since De
cember and is now only a shade high
er than it was a year ago. Low prices
for all foodstuffs except meats and
lower pig iron quotations helped •>
bring down the average. Present
prices on rtaple crops average :'.5
per cent Jower than a year ago, 3.7
per cent lower than two years ago
and 18 per cent lower than three
years ago.
“Bonds average 5 points below a
year ago and stocks average 15 points
below the quotations at this time last
year. So far for April, the Exchange
has been more active and trading for
the month should show a considera
ble increase over March but will
hardly equal April of last year.”
NEW YORK PRODUCE MARKETS.
NEW’ YORK. May 3.—Petroleum firm;
crude Pennsylvania. (*2.50.
Turpentine firm. 4l%@42%c.
Rosm quiet; common. $4.75 bid.
Wool active; domestic fleece, 25©26c;
pulled, scoured basis, 35 H-55c; Texas,
scoured basis, 48©55c.
Hides more active: native steers. 16%
©19%c; branded steers, 15%@15%c.
High.
Ix>w
Close. Close
WHEAT—
May
91%
90%
90%
91
July
91%
90%
91
- 91%
Sept....
. 91
90%
90%
91%
CORN-
May
55%
54 %
55
July
• 56%
55%
55%
56
Sept....
. 56%
56 y,
56%
56%
OATS-
May
. 35%
35%
35%
35%
July
34%
34%
34%
34%
Sept....
34%
345,
34%
34%
PORK
May....
19.52%
19.52%
19.30
19.30
19.60
July....
19.40
19.42%
19.50
Sept....
19.30
19.17%
19.17%
19.30
LARI)
—
May....
10.85
10.77%
10.85
10.87%
July. . ..
10.75
10.70
10.70
10.97%
Sept....
10.77%
10.72%
10.75
10.77%
RIBS-
May....
11.45
11.37%
11.37%
11.47%
July....
10.95
10.92%
10.95
10.97%
Sept....
10.77%
10.75
10.77%
10.77%
CHICAGO CASH QUOTATIONS.
CHICAGO, May 3.—Wheat—No. 2 red.
1.02@1.04%; No. 3 red, 96@1.00; No. 2
hard winter, 92%@93%; No. 3 hard win
ter. 90@93; No. I Northern spring, 92%
@93%; No. 2 Northern spring, 91@92;
No. 3 spring, 89@91.
Corn—No. 2, 56©57%; No. 2 white,
58@58%; No. 3‘yellow, 66%@56%; No.
3, 55@55%: No. 3 white, 57% @57%; No.
3 yellow, 55%@55%; No. 4, 54%@55; No.
4 white, 56@56%; No. 4 yellow, 54%
@55.
Oals—No. 2, 36%; No. 3. 35%@35%;
No. 4 white, 34@34%; standard, 36%.
ST. LOUIS CASH.
ST. LOUIS May 3.—Grain markets
easier. Cash No. 2 red wheat 1.07@1.10,
No. 2 corn 57.-No. 2 oats 35.
Futures: Wheat, May 91%, July 88%,
September 89; corn, May 55%, July 55%,
September 56%; oats, May 34%. July
"4%, September 34%.
PRIMARY
MOVEMENT.
WHEAT—
| 1913. 1
1912.
Receipts
! 530,000 i
268,000
Shipments
! 974,000 I
825,000
CORN—
Receipts
1 595,000
610,000
Shipments
, 576,900 ' '
542,000
CHICAGO
CAR LOTS.
Following are the receipts for
Satur-
day and estimated
for Monday:
1 Saturday.' Mondav.
Wheat ,
34 1
122
Corn
204
149
()ats
160 I
154
Hogs
9,000 1
50,000
LIVERPOOL GRAIN MARKET.
LIVERPOOL, May 3.—Wheat closed
%<i to %d higher.
Corn closed unchanged to %d higher.
LIVE STOCK.
CHICAGO, May 3.—Hogs--Receipts.
9,000; steady; choice light, $8.55© 8.60:
light mixed. $8.50@8.55; prime light
butchers, $8.45@8.50; prime medium
butchers. $8.40© 8.45: prime heavy butch
ers, $8.35©8.10; heavy packing, $8.25©
8.35; mixed packing. $8.30© 8.35.
Cattle—Receipts 100; steady; good to
choice steers. $8.26@8.85; fair to good
steers, S7.35© 8.25: fair to choice vealers,
£8.50©9.00; heavy calves, $7.50© 8.00;
feeding steers. $7.25© 8.10; fair to choice
vealers, $9.00@9.65: heavy calves, $7.50©
8.75; stockers, $6.50@7.75.
Sheep—Receipts. 1,000: steady; fed
yearlings, $7.00@8.00: native lambs. $8.50
@8.75; fed lambs, $8.60© 8.80: clipped
lam os, $7.00©7.75; native yearlings, $7.00
@8.00: feeding lambs, $7.50©_8.00: good
to choice wethers. $6.60© 7.25; good to
choice ewes, $6.25@6.75.
ST LOUIS. May 3.—Cattle—Receipts.
3,600, including 400 Texans; steady; na
tive beef steers. $5.75© 9.00; cows and
$5.25@8.00; Texas and Indian steers,
heifers. $4.50@8.75; stockers and feeders.
$0.25©8.50; cows and heifers, $L00@7.00.
calves in carload lots, $5.00@6.50.
Hogs Receipts. 2.500; steady: pigs and
lights, $7.00@8.50; mixed and butchers,
$8.39© 8.50; good heavy. $8.30© 8.50.
Sheep—Receipts, 900: steady: native
muttons, $5.00@7.25; lambs, $7.00© 8.80.
NEW ORLEANS RICE.
NEW ORLEANS, May 3.—A steady
tone prevails in the local rice market.
Quotations orr the leading grades of
clean rice arc as follows: Honduras. 4%
• .-% : Japan. 3% to ■?'«: stra/Gits, Hon
duras, 3 % to 4; Jaj»an, 3% to 3%; screen
ing- Honduras, 2% to 3%; Japan, 2%
to 3.
6TOCK—
Amal. Copper.
Am. Ice Sec...
Am. Suq. Ref
Am. Smelting..
Am. Loccmo.
Am. Car Fdy..
Am. Cot. Oil..
Am. Woolen..
Anaconda ....
Atchison ....
A. C. L
American Can.
do, pref. ..
Am. Beet Sug.,
Am. T.-T. ...
Am. Agricul..
B. R. T
B. and O
Can. Pacific..
Corn Products
C. and O. ...
Consol. Gas. .
Cen. Leather .
Colo. F. end I..
Colo. Southern..
D. and H
Den. and R. G.
Distil. Secur...
Erie
do, pref. . .
Gen. Electric.
Goldfield Cons..
G. Western . . .
G. North, pfd... 126'
G. North. Ore
Int. Harv. (old). .
III. Central... 1123,
Interboro 14 5
do, pref. . . 51
Iowa Central
K. C. Southern. ...
K. and T 23
do. pref.
Lehigh Valley. 154
L. and N
Missouri Pac
N. Y. Cen. .
Northwestern
Nat’l Lead..
N. and W. . .
North. Pac. .
O. and W. . .
Pennsylvania
Pacific Mail.
P. Gas Co...
P. S. Car. .. .
Open.
High.
Bid.
73
72%
72%
25' 2
243*
243 4
110' 2
. 66%
66' 2
66*8
33
. 48' ?
48' 2
48
43
20
37
37
37'/a
99' ft
99
99
120
. 32' >
32'
32*/2
92'/ 8
. 28' 2
28' '4
28
128
4914
. 89' 8
88%
89
98' 4
9814
98'/ 4
238°a
237*/ 4
238
10'/ 4
10'/ 4
10' 4
64
64
64
1291 2
129' 2
127
Clos. Net
*h’ge
* */4
♦
-1
* V*
* '/a
- '/ 8
*1'/4
-1'/a
'4
14%
34'
101'
129
114
15' _
28
W;
126
14%
51
23
154
34'
1013 ;
129
113%
- 1/
- Va
114% 114'
22'
31
283.
155
19' .
15',
28
45
138
1?
143
126
.... 31'/* . .
.... 102 *1
112% 112
14'/ 2 - -
51
7
23
2314
59
153/2
130'/2
34'/2
101' 2
128'/' 2
48
105
113%
99
114%
22
108 3 4
24
- %
'/a
* /#
'/*
Reading 1603.-4 160/* 160*/*
Rock Island .
do. pfd
R. I. and S.
do. pfd
Sloss-Sheff. ..
South. Pac. . .
South. Rwy. .
do. pfd.
19
973 /4
24
183/4
97'/*
233 4
18%
31%
22'%
82%
29
97%
24
75%
* %
- 14
%
St. Paul 106% 106% 1063,
Tenn. Copper.
Texas Pacific.
Third Avenue.
34% 34%
34%
16
34
Union Pacific.. 148% 148% 148 3 4
U. S. Rubber. .
64' 4
63/ 2
64
Utah Copper..
503 4 ,
501/2
50'
U. S. Steel. . . .
60'/8
59%
59 7 i
do. pfd
108
Va.-Car. Chm.
30'-4
30
30
West. Union. ..
65
Wabash
3
3
3
do. pfd
9^
West. Elec
61! 2
61' 2
61
Wis. Central
51
Western Md . . .
38‘ .
- %
Trading Is Dull
In Stock Market
Insignificant Price Changes Made.
Southern Railroad Earnings
Show Mixed Results.
NEW’ YORK. May 3.—The stock mar
ket to-day continued along the same
imcs that have prevailed since the be
ginning of the week. Trading was dull
and price changes Insignificant. Local
bears made no effort to take advantage
of the weakness of the European mar
kets.
Adverse influences were the New Ha
ven expose, the tariff agitation, the poor
silowing of the national banks in re
sponse to the last call of the Comptroller
of tiie Currency and the probability of
higher money rates as the result of
heavy borrowing by corporations and
tii<' governments of the world.
There was no real pressure, but there
was decided apathy and no one wanted
stocks. In some quarters sentiment was
depressed over the labor outlook. Some
traders went so far as to predict a strike
and a general tie-up of Eastern traf
fic Tht> conservative element, however,
dl«l not share in this view.
Losses of from % to % were recorded
in the active list.
Some of the specialties made greater
declines.
International Steam Pump issues were
notably weak on reports that the com
pany was to be reorganized. The com
mon sfock lost 2 points, the preferred
5 points and the 5 per cent bonds 5%
points, making a loss of 10% for these
bonds in two days.
A number of Western and Southern
railroads published their March earnings
statements to-day.
Of four Southern roads, two reported
moderate decreases in gross and larger
decreases in net. while one reported a
good increase In both gross and net, and
one an increase in gross, but a decrease
In net The Boston and Maine reported
a small Increase in gross and big de
crease In net. Western loading reports
for April all showed gains over the
April totals of a year ago. The New
York Central reported the largest num
ber of loads ever handled during the
month of April.
Week-end trade reports are somewhat
mixed. Business Is lagging in the East
ern manufacturing districts, but is well
maintained In the West and In most sec
tions of the South and Southwest.
OUTSIDE SECURITIES.
NEW YORK, May 3.—Stagnation was
shown in the market for outside securi
ties to-day, and what little business ap
peared caused no fluctuations worth
mentioning The copper shares were al
most entirely neglected. Greene Cana-
nca was unchanged, notwithstanding the
passing of a dividend which was fully
discounted some time ago. Silver shares
were unchanged. Close: Bay-State Gas,
3-16@%; Br. American Tobacco, 23©
23%: Standard Oil. 1060@1100; Br. Col.
2%#3; Con. Arz.. 3-16@%; Davis-Daly,
2%@2%; 108 Giroux. 2 3-16©2 6-16; 300
Greene Cananea, 6%@6%: Kerr l^ake,
3-16©)%; 100 LaRose, 2%@2%; McK.
Dar. 1 15-16© 2; Nlpissing, 8% ©8%; Ton-
opah Ext. 2%@2%; United Copper, %@
%: 100 Yukon, 2%@2%.
ATLANTA MARKETS
BAR SILVER.
NEW YORK, May 3—Bar silver in
London to-day was l-16d firmer at 27 %d
per ounce. To-day’s New York price
was %c higher at 60%c. Mexican dol
lars. 48@52c.
BONDS.
NEW YORK, May 3.—Government
bonds were unchanged to-day. Railroad
and other bonds were dull. Bank clear
ings to-day $344,292,899. against $349,-
633.404 a year ago. a decrease of $5,340,-
505.
MINING STOCKS.
BOSTON, May 3.—Speculation in
mining issues was extremely quiet to
day, but the tone of the market in the
main' was firm. Close: Superior and
Boston, 3%; Utah Apex. 1%: Chino,
38%; Greene Cananea, 6%; North Lake,
1; Old Dominion, 47; Shannon, 10; Butte
and Superior. 28%.
NEW YORK COFFEE MARKET.
Coffee quotations:
1 Opening. | Closing.
♦Indicates gains.
- Indicates losses.
Total sales 88,000 hares.
Number of shares sold to-day. 88,360,
against 439,302 a year ago.
Par value of bonds sold to-day, $709,-
000, against $972,000 a year ago.
ATLANTA SECURITIES.
Bid.
A. <*v W. P. R. R 150
American National Bank .220
Atlanta National Bank....£05
Atlantic Ice & Coal Corp 94
do, preferred 80
Atlanta Brewing & ice Co. 175
Atlanta Trust Co 107
Central Bank & Trust Oorpl40
Augusta A- Savannah Ry, .105
Decatur Street Bank 100
Exposition Cotton Mills.. 160
Fourth National Bank ....270
Fulton National Bank ....126
Ga. R
y. A-
Elec.
Co..
stamped ..
Ga. Ry
. & P
. Co., 1st
pf •
Ga Ry
. & 1
*. Co. 3d
pf.
Ga. Ry
. & P.
Co., com
Empire
Cotton Oil Co.,
com
Empire
Cotton Oil Co.,
com
Lowry
National Bank
Trust (
’o. of
Georgia.
Realty
Trust
( ,'o
Sou. 1c
e Co.
(N’hville)
com
Sou. Ic
e Co.
(N’hville)
pf.
Third !
National Bank
Sou tii w
estern
Of Georg
;ia. .
Travele
•rs’ B.
A Trust
Co.
. .119
248
250
BONDS.
Atlanta 4%s. 1922
Atl. Ice & Coal. Corp. 6s. ’20 90
A.. B. & A. 1st 5s 60
Ga. Ry. & Elec. * Co. 1st
preferred 5s 9!*
Atlanta Consolidated 5s ..104
Ga. Ry. & Elec. Co.
consol 5s 102
Southern Bell 5s- 97
Asked.
153
225
310
96
88
200
110
142
108
110
165
275
129
121
80
37
23
97
23
250
252
97
58
82
250
110
112
300%
92
62
103
106
103 %
99
I Opening
Closing.
Spot
May
June
July
August
September ....
October
November. . .
December. . .
6.86@6.86
6.90© 6.92
6.9706.98
7.0207.03
7.03© 7.04
6.70@6.75
6.44(0)6.48
6.30© 6.40
6.82 @6.95
6.85 @6.86
G.90@6.94 1
6.96 @6.97
7.01 © 7.62
7.02© 7.03 j
6.68© 6.71 :
6.. .#6.41 1
6.30 @6.33
NEW YORK BANK STATEMENT
NEW YORK, May 3. -The weekly
statement of the New York Associated
Banks shows the following changes:
Average statement:
Excess < ;-sh reserve, $15,402,650; de
crease. $1,032,650.
Loans, increase $72,017,000.
Specie, increase $991,000.
Legal tenders, decrease $870,000.
Net deposits, increase $9,119,000.
Circulation, increase $169,000.
Actual statement:
Loans, decrease $246,000.
Specie, increase $1,785,000.
Legal tenders, decrease $2,794,000.
Net deposits, decrease $7,953,000.
Reserve, increase $809,950.
MONEY AND EXCHANGE
NEW YORK, May 3. Money on call
nominal; no loans. Time leans strong.
Sixty days 2% @4 per cent, ninety days
4.@4%, six months 4%@4%.
Prime mercantile paper 5@5% per
cent Sterling exchange steady with ac
tual business in bankers’ bills at,4.8310
for sixty-day bills and 4.8680 for demand.
Commercial bills 4.83.
LONDON STOCKS.
LONDON. May 3.—Traders were idle
on t He Stock Exchange to-day, waiting
for the next turn in ti e Montenegro sit
uation. Consols < net charge in price.
Among home fills there was a slightly
lower level and Kaffir mires eased.
Paris exchange « n London uncharged
at 25 francs .0% centimes. Berlin rate
de< lined % pfennig t<< 20 marks 46%
pfennigs Di-Beers 2°%, Rand Mines 7.
. .11.06011.
. .11.06011.
. .11.29
January. .
February.
March. .
April . .
May . . .
June . . .
July . . .
August. .
September
October. .
November.
December. . . .(11,27@11.*
Closed steady. Sales, 10,000 bags.
COTTONSEED OIL.
NEW YORK, May 3.—After opening
irregular, the cottonseed oil lisj. eased
off under liquidation in May, occasioned
by liberal tenders on May contracts and
the lack of the consumptive demand.
Cotton seed oil quotations:
Closed very steady,
rels.
Sales, 7,600 bar*-
BUTTER AND EGGS.
CHICAGO, May 3.—Butter market was
easier. Eggs held firm. Butter receipts
7,764 tubs. Creamery extra 28, extra
firsts 27. firsts 26, seconds 24© 25, dairy
extras 26, firsts 24, seconds 21, ladies
21, packing stock 20.
Eggs- Receipts 32.C08 cases. Ordinary
firsts 18%. firsts ‘8%, prime finds 19©
20. extra 21, checks 14. dirties 15.
ATLANTA LIVE STOCK MARKET.
(By W. H. White, Jr., of the White Pro-
vision Company,)
Cattle receipts light. Market steady.
Hogs coming more freely. Market
lower.
Quotations based on actual purchases
during'the current week:
Choice to good steers, 1,000 to 1,200,
$6.00© 6.50; good steers, 800 to 1,000. 5.50
©6.00; medium to good steers, 700 to 850,
5.25©. 5.75; medium to good cows, 700 to
mjO, 4.50©5.00; good to choice beef cows,
800 to 900, 5.00© 5.75: medium to good
heifers, 650 to 750, 4.25@4.75; good to
choice heifers, 750 to 850, 5.00@5.76.
The above represent ruling prices of
good quality of beef rat Me. Inferior
.radcs and dairy type selling lower.
Medium to-cominon steers, if fat, 800 t*
900. 5.00© 5.75: medium to common cows,
if fat. 700 to 800, 4.50@5.50; mixed com
mon, 600 to 800. 3.25@4.2h; good butcher
Oulle. 3.60@4.50.
I Time hogs. 160 to 200 average, 8.65@
8.85; good butcher hogs, 140 to 160, 8.40©
8.60; good butcher pigs. 100 to 140 8.00@
8.25; light pigs. 80 to 100, 7.00© 8.00;
heavy rough hogs, 200 to 250, 7.75© 8.25.
Above quotations apply to coin-fed
bogs, mash and peanut-fattened hogs,
1 to l%c under
DARTMOUTH ADDS EFFICIENCY.
HANOVER, N. H.. May 3.—Dart
mouth College will offer a course next
year in scientific management as part
of the second year work in the Arnos
Tuck School of Administration and
Finance. At their last meeting the
trustees of the college appointed Pro
fessor Henry W. Shelton, Yale ’04. to
the faculty and he will conduct the
courses in the application of scien
tific management to manufacturing
and merchandizing. In taking this
step Dartmouth perhaps becomes the
fir it college to offer, a course in the
“Taylor System.
EGGS—Fresh country, candled, 15©
16c.
BUTTER—Jersey and creamery, in
l-lb. blocks, 27% ©30c; fresh country,
fair demand, 17%@22%c.
DRESSED POULTRY—Drawn, head
and feet on, per pound: Hens, 55©55c;
fries, 22%@26e; roosters, &@iu; turkeys
owing to fatness, 20@22%c.
LIVE POULTRY—Hens, 60 @ 55c;
roosters 25@30c, fries 35@40c, broilers
3l)@35c, puddle ducks 30@35c. Peklna
35@40c, geese 60© 60c each, turkeys, ow
ing to fatness, 18@20c
FRUITS AND PRODUCK.
FRUITS AND VEGETABLES—Lem
ons fancy $6.00 grapefruit $2.75@3.00,
cauliflower 10@12%c lb., bananas, 3c per
pound, cabbage 51@1.10 crate, peanuts
per pound, fancy Virginia, 6%®7c,
choice 5%(a6c, lettuce fancy $2.60@.300,
beets $1.00©>1.25 in half-barrel crates,
cucumbers $2.25@’2.&0.
Egg plants (scarce) $2.2&@2.7& per
crate, pepper $2.50@2.75 per irate, to
matoes fancy, six-basket crates $2.25@
2.75, pineapples $2.50@2.75 per crate,
onions 60@6t>c per bushel, sweet pota
toes, pumpkin yam 65© 70c. strawber
ries 10@12%c per kuart, fancy Florida
celery $2.50@3.00 per irate, okra, fan
cy 6-basket crates $3@3 00.
FISH.
FIlJH—Bream and perch, 7o pound;
snapper, 10c pound; trout, 10c pound;
bluefish, 7c pound; pompano. 20c pound;
mackerel, 7c pound; mixed fish 6@6c
pound; black bass, 10c pound; mullet, $12
per barrel.
FLOUR AND GRAIN.
FLOUR—Postell’s Elegant $7.76,
Omega $7.50, Carter’s Best $7.75, Qual
ity (finest patent) $6.66; Gloria (seif-
rising) $0.50, 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
est patent) $5.86, Puritan (highest pat
ent) $5.86, Paragon (highest patent)
$5.85, Sunrise (half patent) $6.25, White
Cloud (highest patent) $5.60. White
Daisy (high patent) $6.50, White Lily
(high patent) $5.60, Diadem (fancy high
patent) $5.76 Water Lily (patent) $5.15,
Sunbeam $6.25, Southern Star (patent)
$5.25, Ocean Spray (patent) $6.25, Tulip
(straight) $4.15, King Cotton (half pat
ent) $5. low grade 98-pound sacks $4.
ATLANTA MULE AND
HORSE MARKET
(Corrected by the National 6tock Yarda
Commission Company; C. Q. Tur
ner, President.)
Mules.
14 to 14% hands, rough, good ages,
$116 to $130.
14 to 12%, finish with quality, $156 to
$180.
14% to 15 hands, rough, $130 to $170.
15 to 15% hands, finish, $180 to $205.
16 hands, with quality and finish, $206
to $230.
16 hands, heavy chunk weighing form
1,250 to 1,400 pounds, $255 to $330.
Horses.
Southern chunk horses, from $76 to
$110.
Southern chunk, finish, $110 to $135.
Good driving horses, quality and finish,
ranging in price from $160 to $210.
Heavy draught horses, rough, $160 to
$210.
Heavy draught horses, finish, $210 to
$300.
Coffee dull; options opened unchanged;
Rio No. 7 on spot. ll%@lT%c.
Rice steady; domestic, ordinary to
prime, 4%@5%c.
Molasses steady; New Orleans, open
kettle, 3&@50c.
Raw sugar steady; centrifugal. 3.so©
3.39c; Muscovado, 2.86@2.89c; molasses
sugar. 2.61@2.64c.
Refined sugar steady; fine granulated,
4 25@4.3&c; cut loaf, o.l5c bid; crushed.
5.05c bid; mold A. 4.70c; cubes. 4.50©
4.60c; powdered, 4.35@4.46c; diamond A,
4.35c b;di confectioner's A. 4.10@4.20c;
I softs—No. 1, 4.00@4.10o. (No. 2 is-5
points lower than No. 1 and Nos. 3 to
I if are each 5 points lower than the pre
ceding grade.
Potatoes steady; white, nearby, $1.8<
@2.10. *
Beans quiet; marrow, choice, $5.90@
6.00; pea. choice, $3.85@3.95; red kidney,
choice, $4.20@4.25.
Dried fruits steady; apricots, choice
to fancy, 10%@12%c; apples, evapo
rated, prime to fancy, 5%@8%c; prunes.
30s to 60s. 5%c bid; 60s to 100s, 3%@
4%c; peaches, choice to fancy, 6@7%c;
seeded raisins, choice to fancy, 5©6%c.
GROCERS.
SUGAR—Per pound: Standard granu-
j lated 5c. New Y'ork refined 4%c. plan
tation 4.85c.
COFFEE — Roasted (Arbuckle’s)
i $24.50, AAAA, $14.50 in bulk; In bags and
! barrels, $21; green 20c.
! RICE—Head 4%@5%c, fancy head 5%
i @6%c, according to grade.
LARD—Silver leaf 13c pound, Scoco
8%c pound. Flake White 8%c pound.
| Cottolene $7.20 per case. Snowdrift $5.85
: per case.
i SALT—One hundred pounds, 63c; salt
! brick (plain) per case. $2.25: salt brick
(medicated) per case. $4.85; salt red
| rock per hundredweight $1; salt white
per hundredweight 90c, Granocrystal,
I per case, 25-lb. sacks, 75c; sail ozone,
per case, 30 packages. 90c; 50-lb. sack9,
30c; 2">-lb. sacks 12c.
MISCELLANEOUS — Georgia cane
syrup 37c, axle grease $1.75, soda
crackers 7%c pound, lemon crackers 8c,
oyster 7c, tomatoes (2 pounds) $1.65
case, (3 pounds) $2.25. navy beans, $3.25;
Lima beans 7%e, shredded biscuit $3 60,
rolled oats S3.90 per case, grits (bags)
$2.40, pink salmon $7. cocoa 38c, roast
beef $3.80, syrup 30c per gallon. Sterling
ball potash $3.30 per case, soap $1.50@
4 per case. Rum ford baking powder $2 50
per case.
I CORN—Choice red cob. 86e. No. 2
white bone dry No. 2 yrhite 78c. mixed
i 86c. choice yellow 75c, cracked corn 85c.
MEAL—Plain 144-pound sacks 35c, 96-
jpound sacks 79c. 48-pound sacks 85c,
f24-pound sacks 83c. 12-pound sacks 80c.
OATS—Fanck white clipped 54c, No. 2
clipped 53c. fancy white 52c, mixed 51c.
CJF- TON SEED MEAL Harper
$28.50, Cremo feed. $26.00.
COTTON SEED HULLS — Square,
1 sacks $15.50.
SEEDS—(Sacked) : Wheat, Tennessee
1 choice Burt 70c, rustproof 60c, Okla*
blue stern $1.60, German r^illet $1.65.
amber cane seed $1. cane seed, orange
, $j, rye (Tennessee) $1.25. red top cane
seed $1.35, rye (Georgia) $1.35, blue seed
oats 50c, barley $1.25.
HAY—Per hundredweight: Timothy,
choice, large bales. $1.30. No. 1 small
bales. $1.25. No. 2 small. $1.15: Timothy
No. 1, clover mixed, large bales. $1.25,
silver clover mixed bay $1.16, Timothy
No. 1. clover mixed. $1.15; clover hay,
$1.10, alfalfa hay, choice green $1.30, No.
1 $1.20. wheat straw 70c. Bermuda hay
90c.
PROVISION MARKET.
(Corrected by White Provision Co.)
Cornfield hams. 10 to 12 pounds aver
age, 18%o.
Cornflelo hams. 12 to 14 pounds aver
age, 18%c.
Cornfield skinned hams. 16 to in
pounds, average 19c.
Cornfield pickled pig's feet. 15-pound
kits. $1.25
Cornfield Jellied meat In 10-pound
dinner pail, 12%c.
Cornfield picnic hams. 6 to 8 pounds
average, 13 % c.
Cornfield breakfast bacon 24c.
Grocer style bacon (wide or narrow),
18c.
Cornfield fresh pork sausage (link or
bulk) 25-pound buckets, 12%c.
Cornfield frankfurters. 10-pound box
es, 12c.
Cornfield bologna sausage. 25-pound
boxes, 10c.
Cornfield luncheon hams. 25-pound
box:-: 1.3 %C.
Cornfield smoked link sausage. 25-
pound boxes, 13%c.
Cornfield smoked link sausage. 25-
pound boxes, 10c.
Cornfield smoked link sausage in
pickle. 50-pound boxes, $5 00.
Cornfield pure lard, tierce basis, 12%c.
Country style pure lard, 50-pound
tins. 12 %e.
Compound lard (tierce, basis). 8%c.
D. S. extra ribs. 12%o.
D. S. rib bellies, medium average, 13%
D. S. bellies, light average. 13%c.
SUDAN PRODUCING
GREATER AMOUNTS
OF COTTON YEARLY
The culture of cotton in the Anglo-
Hgyptian Sudan is making rapid
strides under the direction and assist
ance of the British Government, ac
cording to Arno Schmidt, of Man
chester, England. Mr. Schmidt, at the
meeting of the National Association
of Cotton Manufacturers in Boston,
jyave an interesting and detailed ac
count of the methods used to increase
the production of the white staple in
the Sudan.
As a result of the extension of the
railway system, large areas of great
fertility have been tapped, and Mr.
Schmidt says an enormous quantity
of cotton could be produced, but the
drawback Is that the native* must be
educated in order to get tho best value
from the land
The Anglo-Egyptian Sudan, he said,
extend** from 22 degrees to 6 degrees
northern latitude. The area of the
Anglo-Egyptian Sudan is about 1,-
000,000 square miles. North Sudan hfts
very little rainfall, indeed, tho climate
there being almost Identical with that
of the south of Egypt. Farther south
the rainfall increases
Wise Law in Pores.
Great praise Is due to the depart
ment of agriculture and to the va
rious governors of the respective cot
ton growing provinces who have elab
orated the Sudan Cotton Ordinance of
1912. This ordinance regulates the
Importation of cotton seed; the supply
of cotton seed by the director of agri
culture; provides for special licenses
for ginning factories, and enables the
government inspectors to viBit the
ginning factories; It insists upon the
clean picking of cotton, the separation
of cotton seed of different qualities,
and gives special powers to the gov
ernors of the provinces to establish
such regulations as may be requisite
to B P ec,ft l local conditions.
IT similar acts were In existence In
Egypt, India and some of the African
colonies less deterioration of quality
and the other evils resulting from the
mixing of seed in the ginneries would
follow.
a Tl ? e cotton-growing districts of the
Anglo-Egyptian Sudan are best dealt
with In the following divisions-
1. Flood Irrigation—Tokar, with a
cultivated area of 50,000 feddans wa
tered by the flood of the Khor Baraka.
with a cultivated area of
4 000 feddans. watered by the flood of
the River Gash.
2. Pump Irrigation—North of Khar
toum. principal places, Zeidab, Fad-
lab. Darmall in the Berber Province,
and several plantations in the neigh
borhood of North Khartoum viz., Ka-
dro, Sagai. etc.
3. The Gezira—The Tayiba Test
E arm. at present irrigated by pumps
The final scheme provides perennial
irrigation by means of a barrage and
canals.
4. Rain-Grown Cotton—South of the
Gezira, Singa, Renk, Mellut and Ko-
duk; some rain-grown cotton is raised
in the Gezira.
Deep Silt Deposit.
It has been ascertained that the
i*
i\$T
silt deposit on the lower potota off
the delta, around Tokar, is in places
40 feet deep. These floods carry th«
crop to the rainy seasons, which,
may begin towards the end of Oc
tober. The only additional moisture
which the plants receive 1s from tho
heavy dews, which set in about tho
middle of September. The air gen
erally is humid. Throughout, tho
winter months there are many cloudy
days. The Kohr Baraka has a habit
of flowing into different districts front
year to year, and this alteration off
its course is an enormous drawback,
as the % cultivators, not knowing
whether the flood will come on their
land seldom prepare it in advance fotr!
cultivation. As the farmers are nev-*
er sure whether the flood will reacJi.
certain land* they are careless and
refrain from preparing for the flood,
and do not weed nor hoe the ground.
Hoeing Peye Well.
It has been proved by the inspector
of agriculture on the Government
farm at Tokar that hoeing prior to
the flood, gives increased yields. Tho
uncertainty of the river reaching tho
land makes the cultivation an ele
ment of chance. Attempts in a small
way at directing the flood into cer
tain courses have been fairly success
ful. There has been elaborated a
flood controllng scheme, whereby an
area, of at least 70,000 or even 80,00o
feddans will be flooded sufficiently
every year.
The land in the Tokar district
owned by the Government, whh3
hires it out on a yearly tenancy, the*
native paying land taxes in lieu off
rent.
The average yield of cotton pe *
feddan is very /small, viz., about 400
pounds seed-cotton giving about 31.5
per cent of lint. The quality and
the color of the cotton are satisfac
tory. Owing to the unsatisfactory
method of cultivation, the yield is
small and the staple is somewhat ir
regular. That the yield can be in
creased has been proved by a Gre?k
farmer, who had last year an aver
age crop of 700 pounds of seed-coi-
ton per feddan. This was entirely
due to slightly better cultivation than
the natives adopted; even on this
plantation no ploughing or preparing
of the land prior to the flood was un
dertaken. ,
According to the new cotton ordi
nance, no mixing of the different
grades is allowed, the intehtion be
ing to establish a reputation for To
kar cotton. As, however, several
Alexandria Arms buy the cotton on
the spot and have it ginned, partly in
Egypt and partly in Suakin. It is
evident thai the good intentions of
the Sudan Government are frustrated
by their action. The owner of the
ginnery at Suakin told me repeatedly
that the Alexandria houses insist up
on mixing the grades. The cotton
ordinance will have, however, that
advantage that each class must 1m
ginned separately, and therefore the
seed of the first-grade cotton which
must be kept apart should be use -
* ful for sowing purposes.
- Statement of Condition of the
Guarantee. Trust & Banking Co.
ATLANTA, QA.
At close of business April 3, 1913
ASSETS.
Cash in office and banks . . .
Loans and discounts
Bonds and stocks
Real estate (appraised value)
Office furniture and fixtures .
Persona! accounts
. $ 7.965.89
. 215,268.19
. 349.356.00
. 297,860.31
12,528.55
184.54
$883,163.51
LIABI LITIES.
Reserve for bondholders $378,500.41
Certificates of deposit 400.0 *
Bills payable 79,599.29
Reserve for taxes • 2,500.00
Reserve for depreciation of furniture and fixtures 2,000.00
Capital stock $500,000.00
Less treasury stock 171,866.66— 328,133.34
Undivided profits 92,030.47
$883,163.5'
I. Allan Asher, president and general manager of the Allan Asher Audit
Company, hereby certify that the above and foregoing figures were com
piled from t he records of the Guarantee Trust and Banking Company, and
that the condition of the said Guarantee Trust and Banking Company, as
herein set out, is true and correct to the best of my knowledge and belief.
ALLAN ASHER.
Sworn to and subscribed before me this the 3d day of April, 1913.
G. B. LYTHGOE,
Notary Public, Fulton County, Georgia.
Reputed Character
nr UK TITLE BY WHICH A PERSON
or business is known can not bo too
carefully safeguarded; and especially is
this so in BANKING, for a bank’s .REP
UTATION is truly the “immediate jewel”
of its existence.
By conservative management, cour
teous treatment, and in every way endeavor
ing to further the interests of its? depositors,
the name of the ATLANTA NATIONAL
BANK forcibly impresses upon the mind
advantageous banking service and CON
VENIENCE in PERFECTION
We would like YOU to profit by such an
association.
Atlanta National Bank
The Oldest National Bank
in the Cotton States