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TITE ATLANTA OEOliOTAN AND NEWS.
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NOW WE’LL HAVE A
WHISTLE WHERE WE
USED TO HAVE CROW
American Corporations Able Only
to Float $123,140,000 of New
Securities in May.
MAY OUTPUT OF
NEW SECURITIES
railroads.
Change
q , „ 1913. from 1912j
Bonds $13,966,500 —$42,851,150
56,124,000 * 6,424,000
btock — 23,140,000
Total $72,390,500 —$59,567,500
INDUSTRIALS.
Change
a , 1913 from 1912.
Bonds .. $.3,000,000 —$31,180,000
notes 24,250,000 * 19,720,000
St ° c k 23,500,000 — 10,550,000
Total $50,750,000 —$22,010,000
G'd total .$123,140,000 — 81,577,000
♦Indicates increase
By B. C. FORBES.
Only $123,140,00 of new securities
were issued by American corpora
tions during May. This is $81,577,000
short of the total for May, 1912.
Since January 1 the total output
of bonds, notes and stocks by rail
roads, traction, industrial, mining and
miscellaneous companies has been
$766,918,000, a decrease of $465,357,000
as compared with the figure for the
first five months of 1912.
Not one dollar’s worth of railroad
stock was floated during the whole
of last month, a fact heavy with sig
nificance.
Five Months’ Record.
The year's record of new issues,
and comparisons with last year, reads
as follows:
Output. Decrease.
January ... $198,105,000 $142,895,000
February ... 132,362,000 185,470,000
March 148,829,000 .1,621,000
April 164,477,000 53,788,000
May 123,140,000 81,577,000
$776,913,000 $465,357,000
Financing *s being postponed
wherever possible. An unusually large
proportion of the 1913 output has been
for refunding operations or to pay
off maturing obligations. The net ad
dition to railroad and industrial cap
ital outstanding has been much less
than the total flotations of $766,913,-
000 would suggest.
And let me here state very em
phatically that the St. Louis & San
Francisco Railroad receivership will
rfod«r the raising of new capital
^oubly difficult, for security holders
have had their faith gravely shaken.
The European Market has been
shocked by the extraordinary episode
and threatens to boycott American is
sues unless foreign investors receive
the fullest redress.
During May two-thirds of the coun
try’s new capital issues took the form
of short date noes. This is a most
unhealthy sign.
The railroads could find a market
for less than $14,000,000 bonds, as
contrasted with more than $55,000,000
in the corresponding monttr of in'st
year. Notes were resorted to with
such freedom that their total flota
tions reached $58,600,000.
Industrial corporations put out
eight times as* many notes and
bonds and $20,000,000 more than a
year ago.
The world’s money markets are
still uncomfortable at bottom. Su
perficial ease here and abroad may
mislead those who are not ‘familiar
with what Is going on under the
surface.
Thos who try to raise capital—
as distinct from temporary loans
amply secured by Stock Exchange
collateral—And how hard it is to ob
tain even moderate sums,
Dawn Still Delayed.
I have been calling attention for
nine months to the basic monetary
conditions throughout the world and
urging extreme prudence in run
ning into debt and in assuming
avoidable obligations. Unfortunate
ly, daylight cannot yet be descried.
It is to be hoped very fervently
that Congress will take up currency
legislation in earnest and provide,
with all possible speed consistent
with conservatism, the machinery
for avoiding monetary stringency.
Meanwhile, a further decline In
new capital issues and quieter trade
should afford some relief preparatory
to the fall demands for crop mov
ing.
Before then, however, there may
be a mild flurry abroad and at home
before the enormous July 1 require
ments can be financed.
The following is a detailed list of
the new offerings in May:
Railroad Bonds.
Chicago City Railway $1,500,000
Chicago, St. Paul, Minneapo
lis & Omaha 2,500,000
Commonwealth Power, Rail
way & Light 1,466.50ft
Louisville & Nashville .... 4.000,000
Midland Valley 4,500,000
Total $13,966,500
Railroad Notes.
Ann Arbor $ 750,000
Boston St Mains 12,000,000
Boston & Maine 5,000,000
Chicago, Rock Island & Pa
cific 4.500.000
Lake Shore & Michigan ... 10,000,000
Louisville & Nashville 6,500,000
Massachusetts Electric .... 3,100,000
Missouri, Kansas & Texas. . 1.900,000
New Orleans Railway St
X^jght 4,000,000
New York Central 5.000,000
Southern Pacific 5,000.000
St. Louis Southwestern .... 674.000
Total $58,424,000
Industrial Bonds.
Northern M.ssiss’ppl River
Sc Power $2,500,000
Rolland Paper Co., Ltd 500,006
Total $3,000,000
Industrial Notes.
Elk Horn Fuel $4,000,000
General Petroleum 3,000,000
Pacific Light & Power .... 2,500,000
Union Oil- Co. of California 2,000,600
United Fruit 12,000,000
Walpole Tire Rubber (50,000
Total $24,250,000
Industrial Stocks.
-^.moripu rt-.Tf> bO-CLlAA . . iA-AJOdjUliU
Assistant Secretary of Agri
culture Dr. B. V. Calloway will
shortly make experiments to try
to put the “soft pedal” on the
crowing of roosters. It is said
It can be done by a simple
operation of remoying one of the
fowl’s vocal chords.—News Item.
Oh, I’m the guy that put the ‘‘sell in
selzer.
And I put the “whiz” in whisky, too.
But when I took the "lick” from
liquor
Everybody said that I was through.
But next I put the “sin” in Cin
cinnati;
(“Oh, yes, I’m quite a booster)
And now that I’m a wee bit batty,
I’ll take the crow from out the
rooster.
♦Note to Editor—that’s no Joke.
HY’S HUMOR (?)
][., H TTLI
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mu
liJl'UuK.
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TOWN
But This Cat Didn't
Have Nine Lives.
The tragic death of a cat has caus
ed seme very hard feelings in a prom
inent neighborhood of Atlanta. Also
it has brought out in harsh contrast
man’s innate antipathy and woman’s
deep love for the little animals of the
velvet paws. And while the cat has
failed to reveal the proverbial nine
lives; The - Incident of his death has
immortalized him in the annals of
gossip.
His history began at the recent
pure food show when he won the blue
ribbon. He was a blooded Persian
and the property of one of Atlanta’s
most popular young women. His
prize greatly endeared him to his
mistress but when she sent a collect
telegram to her father in New York
telling him of the wonderful event
the father winced and said. “Scat.”
Innocent of his cunning neighbor,
a blue jay built a neat In a tree in
an adjoining back yard. The spoiled
feline thought the birds his just prey,
and they would have been except for
the noise. Those birds fought a bat
tle royal to protect their home early
each day. And the fight grew more
and more intolerable to the sleeping
neighbors of the owners of the cat.
When sticks, old shoes and garden
hose failed to dislodge the proud
Persian from the tree* of the bird nest
one of the’ neighbors applied a par
lor rifle.
He thought he had killed Just an
ordinary old alley Tom. But when
he, returned at lunch and found the
beautiful young gill weeping over th^
dead body in the alley he knew that
trouble was ahead. All that saved
the situation was the father of the
pet lover. He laughed in his sleeve
that the purring beast was gone.
The names? Well, the neighbor
hood feeling is too acute. Gossip will
have to give you that.
They All Asked Pay
For Pulling Him Out.
A young Atlantan, whom his
friends all envy because he owns an
automobile, declares he should be
pitied.
A few nights ago he went calling
in Inman Park. Some boys found
his car In the street and when the
young man started to leave he was
horrified to find his seat filled with
horizontal pins.
On his way to town he rolled into
one of the “rare” mud holes in At
lanta’s streets and found himself se
curely stuck. He called a half-dozen
loafing negroes to his rescue and
when they had pulled him out he
very nonchalantly requested them to
call at his office next morning and he
would pay them.
Congratulating himself that his ex
periences’ of the night before were
4Mngs of the dead past he threw his
feet over his desk next morning and
lighted a cigar. A gentle knock at
the door did not disturb him but
when he looked around he threw up
his hand*.
The six big negroes bad just filed
in.
By-Products Coke 1,000,000
Canadian Car St Foundry'.. 9,000,000
Consolidated Gas. Baltimore 3,500,000
Consumers’ Chemical 500,000
Dominion Steel Corporation 2;50ft.000
Maxwell Motor 6,000,000
Nova Scotia Steel & Coal . . 1,500,000
Regal Motor 2,600,000
FACE FOB
TABOO AT FETE
Vi?
American Women to Take Promi
nent Part in Gorgeous Costume
Ball in London.
LONDON. June 4.—Exclamations
of dismay were heard in society cir
cles here to-day when it became known
that it will be considered incorrect
for ladies attending the great histor
ical costume ball, “A Fete at Ver
sailles," to wear face powder. Inas
much as representatives of most of
the royal courts of Europe are to be
present, and the event to be held at
Albert Hall to-morrow is under the
direct patronage of Queen Mary and
the Queen Mother, society was forced
to smile away its annoyance and
comply. *
The reason for taboo is that the
use of powder as part of a lady’s
toilette did not come into fashion until
after the periods of Louis XIV and
the costume ball is supposed to be.
a reception by that monarch at Ver
sailles. The fete is conducted In aid
of the Soldiers’ and Sailors’ Society,
and will be one of the most gorgeous
balls ever given in London.
Lady Paget a Leader.
Lady Paget, an American, will have
charge of the arrangements for the
French Court, wh’ch is to receive all
of the visiting royalty. 'Count Sau-
marakoff Elston will portray Louis
XIV. Marie Therese, his Queen, who
was the daughter of Philip IV of
Spain, will be represented by the
Countess of Dudley. Prince Paul of
Servia will take the part of the Dau-
phine of France. Albert Paget will
be the officer of the guard in close
attendance upon Louis XIV.
Among the women In the Court of
France will be Ladies Crewe, Des-
borough, Islington, Helen Vincent, I
Diana Manners, Castlereagh and In - |
gestre, the Baroness E. De Roths
child, Mrs. Cecil Bingham and Mrs.
W. B. Leeds, the last two Americans.
Sir Herbert Beerbohm Tree, famous
English actor, will represent one of
the cardinals.
Other Amerioan Women.
Other Americap women who will
appear In costume are the Duchess of
Marlborough, Lady Newborough, Mrs.
Schwab and Mrs. James McDonald.
The costumes for the French Court
will be most elaborate. Masculine at
tire reached the highwater mark of
magnificence during 1680. The men
in the Court will wear embroidered
brocades, 3tlks and satin. 1 ', and in the
seams of their coats will be sewn
pearls and other jewels, all surmount
ed by enormous periwigs.
Output of Pig Iron
Sets a New Record 1
NEW YORK, June 4.—A new ^llgh
record in pig iron output was regis
tered in May—close to 6,500 tons a
day. Merchant furnaces’ production
probably averaged 28,000 tons a day.
This indicates that the country Is
now producing pig metal at the rate
of $34,000,000 tons a year.
Steel ingot output, too, next to the'
October, 1912, production, was the
largest in the history of the indus
try. The United States Steel Cor
poration alone produced approximate
ly 1,600,000 tons.
“Gary Dinner” Held
To Help Stem Panic
NEW YORK. June 4.—An explana
tion of the reasons for the famous
“Gary dinner” during the 1907 panic
was given by Judge Elbert H. Gary
when he resumed testimony in the
Government’s dissolution suit.
Gary testified it was realized the
price of steel was a barometer of
business conditions. To prevent any
demoralization of steel prices and
forestall any further panic, Gary said,
the dinners were given, after which
steel manufacturers were exhorted to
hold up the price of steel.
OBITUARY.
Mrs. Eliza Boyd, aged 73 years, died
at her home, 33 Inman Avenue,
Tuesday night. She is survived by
her husband, B. C. Boyd; a son,
John Reynolds, and a daughter, Mrs.
J. C. DeFoore, of Augusta, Ga. The
body will be sent to Augusta for
burial.
Mother’s Advice
To Her Daughter
A Real Live Dolf to Fondle Is
Woman’s Greatest Happiness.
nouikt, aua perouix nor to go uiruimu uir (
period happy in mind, free In body and thu* '
(WUned to anticipate women's area test happl <
nv*s as nature intended she should.
Tbs action of Mother’s Friend make* the (
muscle* free, pliant and raaponslve u expen < 1
ston Thus all «trair and tension upon the < I
nerves and ligament* Is avoided, and. In place <
of a period of dtocomfort nod consequent dread, (
ft to a season of calm and Joyful ex- *
pecUQ—.
Th«r« Is no naneea, no morning sicknoas. no (
nervous twitching, none of that cooatari* strain ;
known to so many women, hence Mother’s J
Friend is really one of the greatest blessings <
thut could be devtoed.
This splendid and oertain remedy can be <
had of any druggist at $1.00 a bottle, and is <
sure to prove of inestimable value, not only ‘
finon ‘ the mother, bnt upon the health aftd \
future of the child. Write to Bradfleld Regu ,
lator Co.. 1.12 Lamar Bldg . Atlanta. Oa., for '
their book to expectant moUurs.
OUR CLUB PIANO
* rj ,
For Out-of-Town Customers
FILL OUT COUPON AND MAIL
Regular Price $375.00 Cillb Price $267.50 fitSPl’e^Week'
CONDITIONS: No.interest, one year’s trial and exchange privilege, 15e
WEATHERHOLT PIANO CO.,
Atlanta, Ga.
Gentlemen: inclosed please find $10.00 membership fee (first cash
payment), for which shiD to my address your Club Player-Piano at once.
Including bench, scarf, 12 rolls of music and free delivery, with the un
derstanding 1 can pay balancer in $10.00 monthly payments.
rebate on payments made before due, free life insurance feature, ten-
year guarantee.
Name
All of which accompany In writing the sale of every Club Piano.
Address •
Total ... .......... *,«. .. .S23.50d.009 ‘ v^»rr
lerholt Piano Company
The South’s Foremost Piano House”
72 North Broad St. Weatherholt Building Atlanta, Georgia.