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? „ 262ICI9BSI 1,111 TIF.ARST’S SUNDAY AMERICAN, ATLANTA, C,A.. SUNDAY, MAY 18, 1913. NEED IF IN PUIS HAVOC WITH COTTON Attention of Talent Is Focused on Georgia and the South eastern Belt. BY M. A. ROSE. Georgia and the Southeast gener ally have attracted more attention during the past week than ail other cotton producing area.* combined. Rain was the Imperative need of the cotton crop of this section. Drought and poor growing weather were causing bad stand? and in some rases, no stands at all. Much of the propitious start seemed lost, and while there still was time to replant and make a crop, the outlook warn not rosy. General fains Friday changed the situation. It is early to gauge exact ly their full effect, whether they were all that were neede, hut at any rate, the outlook is much improved. What Georgia needs worse than anything else is a good cotton crop this fall, with a fair price for the staple. Unless replanting runs up the cost of labor and of seen, ,his will be the cheapest crop ever pro duced in the State. Farmers are making the old harness and the old plow, the old mule and the old over alls serve this year. If the soil and the weather are kind, and a good yield is forthcoming, obliga tions hanging over from 1912 and the relatively small obligations of 1913 will be wiped clean. Other wise—w r ell it’s a long time ahead. Let's expect the normal rather than the abnormal. Turning from the future to the ph*sent, trade is slack, especially trade based on forward deliveries. Actual, week to week, requirements hold up well. Some of the banks have idle funds. In the face of tight money and a keen demand by borrowers, this Is some thing of an anomaly. It is explain ed easily. Anything even mildly resembling a “plunge” is forbidden the banks' customers. “Take care of your normal trade. Don't attempt any great expansion until this cotton crop is picked,’’ is Below are the highe.1t, lowoet and closing prices of stocks on the New York Exchange Saturday, with the net change from Friday’s close: Clos. Net K. C. Southern 2*» V. STOCK— H Igh. Low. Old. Ch'g. M., K. and T. 23'* Va Amal. Copper. 74 73% ’/» do, pref. 60 60 59% Am. Ice Sec 22 Am. Sug. Ref. 109 L. Valley 163% Am. Smelting. 66% 66% 66'/ a . ' H L. and N. . . 131'/ a * '/. Am. Locomo 3* 2 Mo. Pacific . . 34% 34'* 34'/, * % Am. Car Fdy . 48' „ 48'/« 48 ' a • '4 N. Y. Central 99% 99% 99' 4 '/, Am. Cot. Oil... 40 Northwest. 129% 12934 129'/ 4 * '4 Am. Woolen 18 • /a Nat. Lead . 1053* 105 Vt Anaconda 37 37*4 37Vf N. and W. 114', 114' , 114'/, * Vt Atchleon . 9#V„ 99^ 99< 4 '/, No. Pacific . . 2»' 2 29'* 29 A. C. L 121 * \ „ Penna 110% 110'/, 1103* American Can 32'/* 32'/, 31% H Pacific Mall . 22% 22% 22% do, pref. 92V* 921/2 92'", • H p. a,, Co . 108' 2 '/. Am. Beet Sug. 30'* 30/* 2»"i '/« P. Steel Car 24 Am. T.-T 128'* 128'4 128 '/« Reading 160 159' .> 159'% \'a Am. Agrlcul.. . 48 v* Rock Island 18% 17/4 173/, »'4 Bethlehem Steel '/• do. pfd.. . 31 29'/, 29/2 % B. R. T 91% 90% 90-* • '/« R. I. and Steel 23 * ** B. and O 98'/, »«% 98'% do. pfd.. . . 81 Can. Paclflo... 237'/ a 286 236 2'/ a S.-Sheffield . 31 Corn Products * 10'4 '/« 80. Paclflo. . . »6'/« 96 96 '/» C. and O 64% 64 64 % 80. Railway 24'/, 24'* 24'* * '/« Consol. Gas 1293/ 4 do. pfd.. 78'/, 76'/ 2 76 Cen. Leather. . 224. 223,4 22% '/, St. Paul'. . . 108% 106' * 106' 4 Colo. F. and 1. 31'/, Tenn. Copper . 34' 4 * V* Colo. Southern 30 Texas Pacific 15 Vt D. and H. 158 Third Avenue. 34/2 * '/» Den. and R. G.. 19*4 18% 18% H Union Pacific . 149* 1489* 148*, '/, Distil. Secur. . . 151/j U. S. Rubber 62% 62%, 62'/* Erie 28% 28 28'/, '/, Utah Copper 505* 509, 60'/* do, pref. . . . 43% 43 42' 2 Vt U. S. Steel . . 60 59', 2 59'/2 '/, Gen. Electric.. 138 do. pfd.. . . 106 106 106 * /a Goldfield Cons. 2 '/« V. C. Chem. . ... . 26 G. Western . . . 1334 W. Union * . 65 G. North, pfd.. 126',. 126 126% • H Wabash 2' 2 G. North. Ore . . 34' 4 34'/, 33 Vt do. pfd.. . . 77, 7% 7/2 Int. Harv. (old) 103 W. Electrlo 61'/ 2 61'/ 2 61 Illinois Central. 115 115 114*4 * Vt W. Csntral . . 50'/, Interboro 144, 14>„ 14y. W. Maryland . 38 V, do, pref. . . 493.4 49 3 4 49*„ Total sales, 93,000 shares. the advice handed over the marble counters to the W'ould-be borrowers. In this way, caution is enforced, and while any one of the strong banks could lend a million or so more than it has loaned, the restricted policy has bt'en followed so closely that funds have accumulated to some small degree. Much gloom emanates from New York Writers on ilnancial affairs talk of foreboding 111 and of new menace* they discern on the hori zon. This is nil very well, but what ;hey fall to point out is that they are not the only sources of financial wisdom. Business men of the South, and presumably of other sec tions, saw these signs long ago. They have curtailed, economized, even scrimped. “Storms ahead!” shout the New' Yorkers, and from their alarm it might be thought that business is careening ahead with all sail set ready to capsize when the winds break. As a matter of fact, there is not a keen business man in the Southeast who has not reefed and trimmed sail The cheap prices prevailing are at tracting some few buyers of odd lots of local securities. Georgia power common and second preferred are attracting considerable attention at present levels. Dealers in grain report heavy de mand for cereals, particularly the coarse grains. For some reason, the Southeastern trade seems to have turned largely to corn meal. The flour trade has not been good, and though showing some slight signs of revival for the past week or so. is for from prospering. Com, how ever, is being sold in large quantities and at firm quotations, 1 1-2 at 2 cents above recent levels. Oats and hay are moving well at stronger prices. Millers are buying little wheat, and this cereal is the weakest of the list. Few Price Changes On News of Rain Liverpool Closed and New York Might Have Been for All It Did, Says Ranlett. By EDWARD LOW RANLETT. NEW YOKK, May 17.—Helpful rains In the Bantam belt did not cause much depression in the cotton market to-day. This partly confirmed the theory that no extensive long account had been formed on the dry weather talk. Karly prices were from 2 to 6 points lower. Subsequently the undertone steadied, with shorts buying moderately. Crop prospects at this time are re garded as very favorable. Spot houses continue to buy the distant deliveries against future requirements. The trading to-day narrowed down to Muctuatlons of about 20 points. The Liverpool market was closed to-day and as far as public interest was concerned the New York market might as well have remained closed. Cotton is selling in New York for new crop deliveries something over 11 cents a pound. This price would look high if it had not been for the fact that more than 30,000,000 bales had been taken by the world’s spinners during the last 21 months at above this average. From a speculative standpoint, per haps, the market has little that would attract the public, but the fact that cur- iailment is going on of spindle produc tions and the still more important fact that no accumulation of goods is being reported should discourage short sell ing. In the cotton goods division of the dry goods trade there is a degree of con servatism on both shies. Both buyers and sellers are waiting for a positive indication of what may be the effect of tariff revision. RANGE IN NEW YORK FUTURES. My 111,45 .J’e |.... •J1V 111.56111.59 11.1 A’g {11.83(11.36|11. .45111.45'11 I. .. . 111. .54 11.58111. 33111.35,1 1. Hpt {11.04 11.04 11.04 lAOl 11. OH jl0.93H0.97 lQ.93 10.97 10 94 10.98110. 93*10.95 10 .02 11 03 11 kU ’ 10.5 D’c 10.95; 11.00 10 J’n 110.93110.96 10 Mh 111.0^1 11.0311 Closed steady. ! weather conditions continue favorable 1 from now on, a strong bullish sentiment is likely to spring up especially as the spot demand showH signs of reviving. NEW ORLEANS COTTON. NEW ORLEANS, May 17.—Official reports of rain in the Atlanttcs, where badly needed, gave an easier tone to the cotton market to-day. Liverpool was again enjoying a holiday, and con sequently trade interests were inactive encouraged by the rains reported in the Eastern belt, the hear element attacked the market rather aggressively fluring the early trading, when October con tracts sold as low as 11.07. At that level, however, the market received- good sup port, and a slight rally took place, in sympathy with the strength of the July position in New York, where shorts are rendered nervous by the dwindling stock of that market. • Speculators who Tmve been selling the distant months at the prevailing dis counts find great difficulty in getting hack their contracts when they attempt to cover on any easy periods. Unless r. 1 8 h i V <n 0 O X •4 1 M 0 Cm'J Mv 12.21 13 aT 13 20 12:21 12 21-22 12 24 J’e 12.01- 03 12.04-05 Jly 11.411 1 1 HD 11.HG 11.99 11.98-99 12.01-02 A'g 11.55 11 67 11.66 11.67 11.56- 58 11.59-60 Hot 11.23-24 11.26-27 O t 11.07 11 10 11.07 11.08 1 1 OS-OH 11.12-13 Nv U. 08-10 D’c 11.06 11.08 11.06 11.08 11.07-0HY1.11-12 J’n 11.10 11 11*11.10 11.10 11.10-11 11.14-15 F’b j. ... 11.07-09 Mh 11.18*' 11 22-23 Closed steady. Snot I .Vfay 6.90@6.95 June 6.91 fli'6.96 July 6.94@ 6.97 August 7.02 @7.05 September .. .. 7.04 @7.06 October 6.75(^6.77 November . . . . 6.447/6.46 December . . .. 6.34@6.40 SPOT COTTON MARKET. Atlanta, quiet; middling 11%. Athens, steady; middling 11%. Macon, steady; middling 11%. New Orleans, quiet; middling 12 5-16. New York, quiet: middling 12c. Philadelphia, quiet; middling 12.10. Boston, quiet; middling 12c. Liverpool, holiday. Savannah, steady; middling 12c. Augusta, Hteady; middling 1.2c. Norfolk, steady; middling 12%. Mobile, quiet', middling 11%. Galveston, steady; middling 11%. Charleston, quiet; middling 11%. Wilmington, quiet; middling 11%. Little Rock, quiet; middling 11%. Baltimore, nominal; middling 12%. Memphis, quiet; middling 12%. St. Louis, quiet; middling 12%. Houston, steady; middling 12c. Txjuisville. firm; middling 12%. Greenville, quiet; middling 11%. Charlotte, steady; middling 11%. COTTON SEED OIL. NEW YORK, May 17.—The cotton seed oil market was firmer on scattered speculative buying, light offerings and in sympathy with the firmness in lard. I Opening. | Closing. 6.90016T 6.95@6.97 6.96@6.98 6.98@6.99 7.07(37.08 7.08(37.09 6.78(36.79 6.35 @6.40 Closed strong; sales, 3,600 barrels. PORT RECEIPTS. The following table shows receipts at the ports Friday compared with the same day last year; 1913. 1912. New Orleans. . . . 1,689 3,466 Galveston 1,394 1,143 Mobile 12 38 Savannah 1,800 1,178 < 'harleHton • 65 237 Wilmington . . . . 109 267 Norfolk 738 524 Pacific coast. . . . 3,959 Boston 109 94 Philadelphia . . . 29 Various 47 27 Total 9,950 7,474 INTERIOR MOVEMENT. | 1913. 1912. Houston 1,121 515 Augusta 440 540 Memphis 498 919 St. Louis 480 484 Cincinnati 505 1,157 Little Rock. . . . 37 Total. .| 3.044 | 3.655 BONDS. NEW YORK. May 17.—Government bonds were unchanged. Railroad and other bonds were irregular. May Wheat Tight, Shorts Discover Small Purchases Stir Market to Fever Heat, Indicating the Underlying Firmness. NEW YORK COFFEE MARKET. Coffee quotations: j Opening I Closing. .111.42® 11.46 11. ST. LOUIS CASH QUOTATIONS. Wheat—No. 2 red .. Corn—No. 2 Oats—No. 2 ..98 (3103 . 58%@ 59% . 37 @ 37% By JOSEPH F. PRITCHARD. CHICAGO, May 17.—Conditions and circumstances surrounding the wheat market point to the fact that the shorts In the May future are to be rounded up, and this, too, without a great deal of ceremony. The tightness of the May future W’as partially demonstrated to-day when 75,- vO bushels were purchased against cash -ales of wheat, which go to Buffalo. If these small purchases stir the entire market up to a fever heat, a real active demand, with the offerings small, would cause a runaway affair With the shorts forced to remit for all damages. Farmers seem to be willing to continue is sellers of cash wheat;, as the receipts at primary markets this week were 3,- ;-;29,000 bushels, and while that was 1,- 00,000 bushels smaller than the pre vious week, it was 600,000 bushels in excess of the corresponding period a year ago. Speculative trade in corn was at a low bb to-day and price changes were the narrowest in some time. No pronounced weakness, however, w r as manifest. »oats displayed considerable stubborn ness and maintained yesterday’s prices vith temporary weak spots. The May delivery more than held its own, as it was in demand from shorts. Provisions showed considerable strength and closed higher all around. Previous High. Low. Close. Close. WHEAT— May 90 89% 90 89% July 88% 88', 88% 88% sSept.... 88% 87’, 88% 88% Dec . 90% 90% 90% 90% CORN- May 56 .55% 55’i 56 July 56', 55", 56 V 56 Sept.... . 56% 5654 56% 66% Dec 54S4, 54% 54% 54% OATS- May 38% 38% 38% 38% July 36 % .25’, 364, 363, Sept . 35% 36% 359, 36% Grain quotations. PORK May.... 19,80 19.75 19.75 19.80 July.... 19.6214 19.45 19.60 19.42% Sept.... 19.40 19.30 19.35 19.20 LARD— May.... 11.06 11.00 11.05 11.02*4 July.... 10.90 10.85 10.90 10.85 Sept.... 10.95 10.92% 10 97*4 10.90 RIBS- May.... ll.M 11.87*4 11.90 11.85 July.... 11.15 11.10 11.12 11.07% Sept.... 11.00 10.97% 11.00 11.05 CHICAGO CASH QUOTATIONS. CHICAGO, May 17.-^Wheat—No. 2 red 1.05(31.08, No. 3 red 95@1.01, No. 2 hard winter 90%(392, No. 3 hard winter 90%@ 92, No. 1 Northern spring 91(393, No. 2 Northern spring 90@91, No. 3 spring 88 @90. Corn No. 2 56%@57, No. 2 white 59% (360, No. 2 yellow- 56%@57, No. 3 56@ 56%, No. 3 white 59@59%, No. 3 yellow 56% @56%, No. 4 55@55%, No. 4 white 58 @58%, No. 4 yellow 55% @56. Oats No. 2 white 39%@39%. No. 3 White 38 1 1 @38. No. 4 white 36%(337%, standard 39@39%. January. Kehruury 1 11- March ;1147 April n May 1120 U June |D July 11.25 11. August Tl.33@ll.38 11. Septemhei .... 'll.43 October 11 November. . . . ,11 December 'll. 43 11 40 @11 41@U 42@U 42 @11 I8u 11 19@11 20{£ U 30 (Fz 11 3i)(fl 11 39 @11 39© 11 39 @11 Closed dull. Sales, 12,250 bags. NEW YORK BANK STATEMENT. NEW YORK, May 17.—The weekly statement of the New- York Associated Banks shows the following changes; Average statement; Excess cash reserve $24,547,400. in crease $7,606,900. Loans, increase $14,004,000. Specie, increase $2,958,000. Legal tenders, increase $2,242,000. Net deposits, decrease $8,538,000. Circulation, increase $52,000. Actual statement: Ixians, decrease $3,238,000. Specie, increase $4,735,000. Legal tenders, increase $1,664,000. Net deposits, increase $3,390,000. Reserve, Increase $5,776,800. LONDON STOCKS. LONDON, May 17.—Trading in the stock market* to-day was quiet. The tone was heavy on Paris selling. Con sols were 1-16 lower. The general list was irregular. Discounts in Lombard Street were 1-16 per cent easier. At Vienna the rate w r as up 1-8 and at Paris 1-8 lower. Paris exchange on London •%e higher at 25 francs 21% centimes. Berlin rate % pfennig higher at 20 marks 45% pfennigs. Hand Mines 6 29-32; de Beers 22. Frisco at Lowest Level Since 1900 Rock Island Declines to Cheapest Since 1908—Canadian Pacific Loses Friday’s Gains. NEW Y'ORK, May 17.—Only fractional changes were recorded In to-day's short session of the stock market, with the exception of Canadian Pacific, Rock Is land and Frisco common and second pre ferred. Canadian Pacific lost all of yesterday’s gain, presumably on profit- taking sale# for the account of Berlin, which was closed yesterday. 'Frisco shares touched the lowest levels since 1900 and the Rock Island issues de clined to the lowest since 1908. It was reported that the Frigco had found it expedient to rid itself of the obligations to Chicago and Eastern Ill nois stockholders by sharing its control of that road with another system, pre sumably the R^ock Island. These obli gations amount to $1,207,040 yearly. In midsession, an upward movement in Union Pacific and Reading caused a general advance, but the continued weakness in Canadian Pacific, Frisco and Chicago, Rock Island and Pacific, In duced realizing just before the close. Final prices were at substantial reces sions from the midsession bulge.. Generally speaking, business in the agricultural sections of the country - good, while in the industrial and finan cial East conditions are unsatisfactory. OUTSIDE SECURITIES. NEW YORK, May 17.—The trading on the outside securities market to-day was again quiet with prices holding about steady. British-American Tobac co was higher. Metal shares were ex tremely dull, but with prices holding steady. BANK CLEARINGS. NEW YORK. May 17.—Bank clearings to-day $206,353,053, against $360,991,716, a decrease of $64,638,663. MONEY AND EXCHANGE. NEW YORK, May 17.—Nothing said in money. Posted rates: Sterling ex change. 4.86%@4.87, with actual busi ness in bankers' bills at 4.8670 for de mand and 4.8640 for sixty-day bills. BAR SILVER. NEW YORK. May 17.—Bar silver In London to-day was 1-16 penny lower at 28d per ounce. To day’s New York price was %c lower at 60%c. Mexican dollars were 48@ 52c. NAVAL STORES. SAVANNAH. May 17.—The final call in turpentine was firm at 36%c, sales totaling 1,035 barerls. The final call in rosins was firm at asked price unchanged from yesterday. Total sales were only 21 barrels, these being on N to WW. Rosin to-dav firm: WW 6.75. WG 6.60. N 6.25. M 5.65, K 5.20, 1 4.90, H 4.80, G 4.75, F 4.70. E 4.65. D 4.60, B 4.55. NEW ORLEANS RICE. NEW ORLEANS, May 17.—A better feeling is in evidence in the rice mar ket, the tone being strong. Following are the quotations on the leading grades: ’Honduras. Japan. Head 4%@5% 3%@4 Straights 3%@4 3@3% Screenings 2%@3% 2%@3 White City Park Now Open Have You Sold Your Automobile? If you have a good car but want a better model, you can ^ dispose of It through the Au tomobile Columns of the “Want Ad” Section. If you desire to purchaser a car but do not want to pay the price of a new one, or if you want a particular kind of car at a -t ■ price you can afford to pay, watch these columns and you will eventually find what you want. ALWAYS GOOD Distributed 10 Merchants from 106 Whitehall St., Atlanta, Ga, Latest Reports From the World’s Great Markets—Cotton, Grain, Stocks Saturday’s New York Stock Market