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THE ATLANTA GEORGIAN AND NEWS.
11
Expert Recommends Convertible
Bonds—His Prediction of
Improvement Realized.
By B. C. FORBES.
Financially, we are emerging from
the thickets that have seriously re
tarded prosperity. Every day brings
us nearer clear fields and bright
skieg,
* * *
“Do you recommend the purchase
of securities?” I am asked.
* * *
Yes, many excellent bonds are to
day bargains, notably the convertible
issues of sound railroad and con
spicuously strong industrial compa
nies. Among the attractive invest
ments that rush to mind are the con-
, vertible6 of Baltimore and Ohio, St.
Paul, Atchison, Norfolk and Western,
and American Telephone. They are
safe, they yield a fairly generous
income, and the convertible privilege
gives them an added speculative
value not to be ignored.
* * *
What about stocks?
* * *
Well, a month ago, after having
urged caution for a year, I ventured
the opinion that the turning in the
long lane was near and that discrimi
nating outright purchases could be
made with every probability—cer
tainty, almost—of generous profits
in addition to the high dividend re
turns. Nothing has occurred to
change that view, except that prices
have already enjoyed so substantial
an advance that I believe a tem
porary reaction is in order. Then
the best stocks .will again be very
attractive.
» * *
I have enjoyed confidential chats
with certain of our most powerful
financiers, and their views are exactly
in accord with what has just been
written. v.
• * •
Bonds, however, are favored. In
vestors who like a speculative string
to their purchases are recommended
to buy trustworthy convertible bonds
in preference to stocks.
* * *
The strongest banking interests
are opposed to speculative activity
in stocks at present. "There should
not be, and very probably will .iot
be, much speculation in stocks for
two or three months,” remarked a
financier whose judgment is second
to none and whose position* i- one of
great eminence in American and in
ternational finance. "Margin trading
is not to be encouraged. Nobody
should buy stocks just now unless
prepared to hold them, no matter if a
setback be suffered. Of course, 50-
point margins are all right. I am
speaking only narrow margins.
Small investors who can pay in full
and who buy on re ctions are pretty
sure to come out well.”
* * *
Plungers are not to be encouraged
until the money necessary to mar-
I et the crops has been supplied.
* * *
I hear that cotton growers will be
at the earliest moment and that
grain growers will also be urged to
market part of tneir product without
delay. The double desire is to have
debts liquidated at ome and credits
built up abroad.
* * *
Our financial pro«oects are bette"
than our business conditions, a 1
though these are not wholly bad, *0
• any means.
* * *
Financial stringency, once gravely
threatened, now promises to be avert
ed. Inflation has been curtailed
throughout the country and the del
uge of new security issues has been
stopped. Abroad also, the banking
situation has been strengthened ax
every important center. If need arise,
the United States ought to obtain
assistance from London without pro
test, for the Bank of England's re
serve is phenomenal!'' high and the
leading Continental banks are also
unusually well fortified with bullion.
THE PLAY
THIS WEEK
Business Man’s Lost Keys Prove
It—Contestants Find It Easy
to Secure Want Ads.
When you lose something, do you
bid it good-bye and say nothing?
That’s bad business. Why not find
it?
An Atlanta business man lost his
office keys a few days ago. He tele
phoned The Georgian’s Want Ad
Man and had three lines published in
the “want” pages, asking that the
keys be returned to his office, where
a reward would be paid.
Next morning h e was offered Just
fourteen bunches of keys. One bunch
was his own.
The thirteen other losers may not
have their keys yet, unless they ad
vertised for them. The finders had
no clew to the ownership.
A Georgian want ad will get most
anything you want, from a housegirl
to a twelve-room house. That’s the
reason you see so many business
houses using them.
Atlanta folk know their value, too,
and that’s the reason The Georgian's
Want Ad Contest is proving so suc
cessful. It’s easy to get want ads.
Contestants need only make a sug
gestion or two and an unfilled want
is remembered, the advertisement
dictated, the want fulfilled.
The contest is still open and new
contestants have a fine opportunity
to enter and win a prize—an automo
bile, a piano, a trip to California, a
motorcycle or any one of the dozens
of trophies offered. There isn’t any
guesswork to rack your brains over,
no disappointments. Energy will
bring results and the prizes will go
to the best hustlers. The Want Ad
Man will tell you all about how to
enter, how to work, how to win.
Master Organists
Will Compete Here
Many of the master organists of
America will come to Atlanta to “try
out” for the position of city organist
made vacant by the resignation of Dr.
Percy J. Stat-nes. At a meeting of the
Atlanta Music Festival Association
Tuesday afternoon a list of the most
prominent was selected and a call
sent to each of them.
Recitals at the Auditorium during
the next two Sundays will be given
by Professor Charles Sheldon, of At
lanta, who has assisted the associa
tion greatly. He organized the cho
rus and helped out on many other
details.
The association decided that in fu
ture nothing will be allowed to Inter
fere with the concerts and that con
ventions and exhibits will have to
meet elsewhere on Sundays.
Mystery in Slaying
Of Man in East Rome
Rome, July 30.—Mysteriously killed
las't Saturday night, the death cf
Floyd Frisco has just become known.
Coroner Miller learned to-day that
Frisco had been done to death on
White Row in East Rome, and so fai
lie has been unable to unravel the
mystery. ,
Frisco was at the home of Wlii
Watley, but Watley, who was also
shot in the arm, can not or will not
divulge the nam" of the assaiiant, ex
cept that his name is Fred. BYatley
is being held until “Fred” can be
found.
Grand Films Interest.
Lovers of nature study and animals
are having an inning at the Grand, mat
inee and night daily this week, in the
illustrated report of the Carnegie Mu
seum ’Alaska-Siberia expedition, given
bv means of the motion pictures taken
by Captain Kleinschmidt throughout the
cruise. Arctic monsters of land and sea.
mighty glaciers moving majestically
down the mountain sides, icebergs in
formation and afloat, and the wild ilfe
of the frigid North are shown in all
phases.
Forsyth Bill Pleasing.
There is a splendid bill of comedy at
the Forsyth Theater this week. There
is a tremendous advance sale for all
performances.
Among the headliners. Bob Pailev in
a sketch called "Our Boh,” is a scream.
Joe Welch is again registering the big
hit that he made last season hy his droll
manner of telling stories and his ren
dition of a quaint song.
Toe Dancer a Hit.
There is a little toe dancer this week
with “The Girl From Dublin” at the
Bijou who is making one of the big hits
of the show. Such vivacity and energy
has seldom been displayed by a dancer
on a local stage. Her work Is decidedly
pleasing. A female quartet is also one
of the pleasing features of the perform
ance.
ACCUSED OF WHISKY THEFTS,
COLUMBUS.—Paul Edwards and
Lige Truett. young white men, ar
rested in Griffin for the theft of 29
pints of whisky in Girard. Ala., have
been taken to Seale, county site of
Russell, to await preliminary hear-
Gulf Stream Speedy;
Seaman Fears Storm
CHARLESTON, July 30.—Sea
captains coming into Charleston con
tinue to report an unusual speed for
the Gulf Stream, which* is raging
along, according to more than one
mariner, at a rate of two or three
knots faster than usual.
Captain Pennington, a well-known
coast sailing master, believes that the
speed of the Gulf Stream forecasts a
big storm, this being his experience
in the past when the stream was un
ruly.
COTTON MARKET
Women Voters Buy
Auto Fire Equipment
CHAMPAIGN, ILL., July 30.—The
purchase of two automobile fire trucks
and other modern fire-fighting appli
ances by the city of Champaign was
possible to-day because the women at
yesterday’s election voted unanimous
ly for the issuance of bonds for the
purchases.
Without the ballots of the women, it
was estimated, the proposition would
have failed.
Winged Fire Wagons
Forecast in Salem
SALEM, MASS.. July 30.—A fly
ing machine fire department for Sa
lem was predicted by J. F. Hurley,
Mayor of this city.
Fire engines, hook and ladders, hose
wagons and aerial water towers of
the future will go through the air
on the wings of aeroplanes, accord
ing to Hurley’s Ideas.
NEW YORK. July 30.—As there
was no rain in Texas over night nor
any immediate prospect of moisture,
according to the early weather map,
the cotton market opened rather ac
tive to-day, with first prices at a
net gain of 2 to 3 points, except May,
which was 4 points decline from
Tuesday’s final.
After the call a precipitant Selling
movement, led by Wall street and the
Uptown crowd, sent the market back
to the lowest level of the month. July
was dumped on the market in a sen
sational manner, resulting ina rapid
decline 20 points from the initial
level, which was 11.92; August
dropped 10 points to 11.56. Other po
sitions were heavily iliquidated and
displayed a net decline of 9 to 13
points.
Weather news not quite as bearish
as had been hoped for, but was con
sidered favorable; except in Texas,
where some private reports indicated
deterioration from the dry, hot
weather. This, however, was offset
as a bullish argument, when Okla
homa reported beneficial rainfal. In
addition to this a Liverpool cable
stated that spinngrs’ taking from
Liverpool wen* more freely as stocks
are pretty well used up. On the
other hand Manchester is quiet, as
India is not a free buyer and there
are trpubles reported again in China,
which have caused orders for that
market to be canceled for the time.
This, together with a bearish circu
lar from F. M. Cordill on the condi
tion of North Mississippi and Ten
nessee crops promoted sufficient sell
ing to send the market back into the
lowest levels.
Following are 11 a. m. bids in New
York: July, 11.78; August, 11.62; Oc
tober. 11.19; January, 11.09.
Following are 10 a. m. bids in New
Orleans: July, 11.50: August, 11.60; Oc
tober. 11.2v; January. 11.21.
Estimated cotton receipts:
Thursday. 1912.
New Orleans 500 to 1,000 82
NEW YORK COTTON.
Cotton quotations:
I f I T fPrev.
lOpenlHigh |Low|Noon| Close.
July
Aug.
Oct.
Nov.
Dec.
Jan.
Feb
Mch.
May
NEW ORLEANS COTTON.
11
.92111.
93|11 ,
,721
11.
.72!
.11!
.66 11.
66jll
.56'
11
. 561
.11.25111
.! 1...
.25%.
. .1..
.17'
11
.18
'll
.21 11 .
21 11
.11
11
.12
.1411.
14 11
.04
11
.07;
, 11
.2211.
22 11
.16
11
.17
,11
.2l!ll.
21 111
.20
11
.20,
COTTON MARKET OPINIONS.
Miller & Co.: “We can still only re
peat the opinion expressed during the
past few' days, that we think prices for
the time being are in control of Texas
weather.”
Atwood, Violett & Co.: “We believe
the rally has gone far enough.”
Morris H. Rothschild & Co.: “The
trade is awaiting further climatic de
velopments.”
Thompson, Towle & Co.: “Until rains
occur the market will not decline and
may go higher temporarily.”
Cotton quotations:
: Prev.
lOpenlHigh |Low Noonj Close.
July
Aug.
Sept
Oct.
Nov.
Dec.
Jan.
Feb.
Mch.
May
‘ ii
.64
1..
In.
:«j
ii:
:<54:
lii
27
in.
28
11.
! i7[i
.m
.2f>
Hi.
Is]
Tu
.1711
.ju
.27
in.
•27
11.
,i8b
!jii'
.32
TT
13
ii'
.30 :
...!.
11.61-63
111.21-22
LIVERPOOL COTTON MARKET.
LIVERPOOL, July 30.—Due 6% points
higher on July and unchanged to 1*4
points higher on other months, this
market opened steady ai a net advance
of 1 to 2 points. At 12:15 p. m. the
market was steady at a net advance of
3 points on July and 1% to 2 points
higher on other positions. Later the
market advanced 1- point from 12:15
p. m.
Spot cotton in moderate demand, at
1 point decline: middling. 6.53d; sales,
7,000 bales, including 6,000 American
bales; imports. 3.000, of which 1,000
were American hales.
LIVERPOOL COTTON MARKET.
Quotations opened quiet.
Opening.
R{
July . . .
July-Aug.
Aug.-Sept.
Sept.-Oct.
Oct.-Nov.
Nov.-Dec.
Dec.-Jan.
Jan.-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May . .
May-June . . .
Closed steady
ange
.6.26
.6.24%
.6.17
.6.08%
.6.04
.5.99
.5.99%
.6.00
.6.01
.6.02%
.6.04
.05
2P.M.
6.29%
6.27
6.19
6.10
6.05%
6.01%
6.02%
6.04
6.06%
Close.
6.26%
6.24%
6.16%
6.08
6.04
5.99
5.99
5.99%
6.01
6.02
. 604%
6.04%
Prev.
Close.
6.24
6.23
6.16%
6.07%
6.03
5.98
5.98
5.98%
6.00
6.01
6.02
6.03 Vi
COTTON GOSSIP
Weston on Last Leg
Of Minneapolis Hike
MINNEAPOLIS. MINN., July 30.—
Edward Payson Weston, the 76-year-
old pedestrian, was on the last leg of
bis hike from New York to Minneap
olis to-day.
He was officially welcomed yester
day as he crossed the State line at
Hudson, Wis., and into Minnesota by
Governor Eberhart and members of
his executive staff.
GRAIN MARKET
CHICAGO, July 30.—The corn market
was again the speculative leader on the
Board of Trade at the opening this
morning, prices during the first half
hour showing gains of % to l%e. when
compared with the resting spots of last
night. Dry and hot weather continues
generally in the corn country, maximum
temperatures being about 2 points high
er than this time yesterday. Numerous
buying orders w’ere executed in the pit
for people located in the corn belt, and
there was a good demand from local
speculators and professionals.
Although conditions surrounding the
wheat market at the moment are in fa
vor of the bears, values at the opening
showed some firmness, because of the
strong position occupied by the corn
market. Fine weather was reported in
the spring wheat country and Liverpool
was somewhat easier in price.
Further gains were shown in oats on
unfavorable thrashing returns and the
strength in corn.
There was a dull trade in hog prod
ucts at the opening, but values held
steady despite a break of 5 to 10c in the
price of hogs at the yards.
Grain quotations to noon:
Low. Noon.
High.
WHEAT—
86%
8674
90%
July.
Sept.
Dec..
CORN—
July. . . 66%
Sept. . . 66
Dec.... 64
OATS—
July. . . 40%
Sept. . . 41 %
Dec.. . . 44
LARD—
July
Sept. . .21.30
PORK—
July
Sept. . .11.77%
Oct. . .11.85
RIBS—
July . .11.70
Sept. . .11.52%
Oct
85%
8574
89%
85%
85%
89%
65%
65%
62%
40
41%
43%
21.15 21.17%
11.65
11.45
11.65
11.45
Prev.
Close.
85%
86%
90%
65%
65%
62%
40%
41%
43%
22.70
21.30
11.77%
11.77%
11.45
11.77%
11.80
11.55
LIVERPOOL GRAIN MARKET.
LIVERPOOL, July 30.—Wheat opened
unchanged to %d higher. At 1:30 p. in
the market was unchanged; closed %d
higher to %d lower.
Corn opened %d higher. At 1:30 p. m
the market was % to %d higher; closed
unchanged to %d higher.
Atlanta Markets
The New York Journal of Commerce
has the following on the condition of
the cotton crops in Texas, Oklahoma
and Missouri:
“Texas—Continued drouth and high
temperatures are reported from nearly
all sections, and have lowered pros
pects somewhat from a month ago.
Sections that are still needing rain re
port shedding and stoppage of growth
But, as one correspondent remarks, dry
weather and boll weevil don’t go far
together, and as a consequence, weevils
are doing very little damage. In dis
tricts where the rainfall relieved the
drouth cotton is generally of good size,
strong and healthy. Fields are well
cultivated, clean and labor plentiful.
Some sections are late, but as a rule,
no complaints are made of this feature
"Oklahoma—The genral need of rain
has caused some deterioration from a
month ago. when percentage condition
was 86.6. The plant is generally small,
but strong and healthy, well cultivated
and clean. Fruitage is generally good,
and the crop is free from insects Many
sections have received the needed rain
fall and prospects are for a big crop.
“Missouri—Except for lack of rain in
some localities, the crop is in excellent
growing condition.”
• • *
Dallas wires: “Texas clear, rain at
Houston yesterday. Oklahoma clear.”
* * »
NEW ORLEANS, July 30.—Hayward
& Clark: “The weather map shows
fair over Texas and Oklahoma. Cloudy
over the remainder of the helt: no rain
in the Western States; general rains
over East Mississippi. Alabama. West
ern Georgia and light showers in the
Memphis district. Indications are for
generally fair weather over the Western
States, except perhaps cloudy over Gal
veston coast districts, cloudy showery
in the Eastern and Central States.”
• » •
The New Orleans Times-Demoorat
says: “The cotton market presents a
small anomaly, a sort of forerunner of
what may be expected in the event
Congress shall strike the machinery of
of distribution a death blow wdth Its
legislative club. America believes both
crop anti the need will be large, that
the world can afford to pay current
values, and that, under normal oondi
tions of s imply and distribution, all
the cotton narvested In 1913-14 will
pass into consumers’ hands at a splen
did profit to the farmer. But America
fears the Clarke stamp tax and is in
no humor to enforce its price opinions.
“On the other hand, continental Eu
rope believes that America will try out
the uneconomic desire of many people,
by making the Clarke stamp tax on
futures a law. and Europe knows full
well that the death of the American
future market will mean the resur
rection of consumers' control over the
value of the raw material.”
MINING STOCKS.
BOSTON, July 30.—Opening: Butte
Superior 26. Granby 60 Calumet Hecla
409, Alaska 19, East Butte 12. Boston
Elevated 95.
LIVE STOCK MARKET
CHICAGO. July 30—Hogs -Receipts,
27.000. Market, weak to 5c lower; mix
ed and butchers. $8.45#9.35; good
heavy. $8.75^9.15: rough heavy, $8.35
€8.70: light. $8.95€9.50; pigs. $A00@
9.10: bulk. $8.75@9.05.
Cattle—Receipts, 17.000. Market,
steady, beeves, $7.35€9 10: cows and
heifers. $3.25®8.30: stockers and feed
ers, $6.25*37 90, Texans, $6.75(98.16;
calves. $9 35@ 11.00.
Sheep—Receipts. 22 000. Market,
steady: native and Western, $3 25^5 10;
lambs, $5.2568.00.
EGGS—Fresh country, candled, 16@
17c.
Bl/TTER—Jersey and creamery, In
i-lb. blocks 27%® 30c; fresh country,
f.ur demoiia ux&i&c.
UNDRAWN POULTRY—Drawn, head
and feet on, per pound: Hens, 19c,
fries, 22% @24; roosters, 8@10c; tur
keys. owing to iatr esss. 17Q/iyc. .
LIVE POULTRY—Hens. 40@45l
roosters, 30@35c; broilers. J5@3Uc pe*'
pound; puddle ducks. 30@3oc; Pekin*,
25@40c; gv-e.se, 50(oi6Oc e«cn: turkey*,
owing to fatness. 16oflW
FRUITS AND PRODUCE.
FRUIT AND VEGETABLES—Lem
ons fancy, $8.00<g:9.00; cauliflower. 100
12%c lb.; bananas, 2^c lb; cabbage,
$2.00 per crate; peanuts, per poind,
fancy Virginia, 6%@7c; choice. 5%g)6c;
beets. $1.75(32.00 in half-barrel mates;
ccumbers, *1.25(5)1.50 Eggplants 75c
4*1.00 per crate, peppers, $1.25® 1.50 per
crate; tomatoes, fancy, six- j&sket
crates, $2.00®2.50; onions, $1.00 per bu.;
sweet potatoes, pumpkin yams, 80®8oc.
>kra. lancy, six-basket crates, $1.50®
1.75.
FISH.
FISH—Bream and perch, 7c pound;
snapper, 10c pound: trout, 10c pound;
blueflsh, 7c pound; pompano, 20c pound;
mackerel, 7c pound; mixed fish. 6fi>6c
r ound; black bass, 10c pound; mullet,
11.00 per barrel.
FLOUR AND GRAIN.
FLOUR—Posted’s Elegant, $7.75:
Omega. $7.00: Carter's Best. $6.25; Qual
ity (finest patent!. $6.40; Gloria (self
rising), $6.00; Results (self-rising), $6;
fcwans Down (fancy patent), $6 00; Vic
tory (the very best patent). $6.40; Mon
ogram, $6.00; Puritan (highest patent),
$5.65; Golden Grain. $5.60; Faultless
(finest patent), $6.25; Homs Queen
(highest patent), $5.65; Paragon (high
est patent, $5.75; Sunrise (half pared),
*4.85; White Cloud (highest patent),
$6.25; White Daisy (highest patent).
*5.00; White Lily (high patent) $5.00;
Diadem (fancy high natent). $5.«6. Wa
ter Lily (patent), $5.15; Sunbeam, $4.85.
Southern Star (patent). $4.85; Queen
Spray (patent). $4.86; Tulip (straight),
$4.00; King Cotton (half patent), $4.75;
low-grade, 98-lb sacks. $4.00.
CORN—Choice red cob 90c, No. 2
white bone dry 87c, mixed 85c, choice
yellow 85c, cracked corn 85c.
MEAL- Plain 144-pound sacks 83c, 96-
pound sacks 84c, 48-pound sacks 86c, 24-
pound sacks 84c.
OATS—Fancy white clipped 57c, No. 2
clipped 56c, fancy white 55c, No. 2
mixed 54c.
COTTON SEED MEAL—Harper $31.50
COTTON SEED HULLS—Square
sacks $17.00.
SEEDS—Amber cane seed $1.00, can*
seed, orange $1.00, rye (Tennessee) $1.25,
red top cane seed $1.35, rye (Georgia)
*1.35, blue seed oats 50c. barley $1.25,
Burt oats 70c.
FEEDSTUFFS.
CHICKEN FEED—Beef scrap. 100-lb.
sacks, $3.25; 50-lb. sacks. $1.65; Purina
pigeon feed. $2.20; Purina baby chick
feed. $2 00; Purina scratch, 100-lb ska,
$1.85; 50-lb. sacks. $2.00; Purina scratch
bales. $2.05; Purina chowder, 100-lb.
sacks, $2.00; Purina chowder, dozen
pound packages. $2.20; Victory baby
chick. $2 00; Victory Rcrafch, 50-lb.
sacks, $1.90; 100-lb. sacks, $1.85; wheat,
two-bushel bags, per bushel, $1.26;
oyster shell, 80c; special scratch, 100-lb
sacks. $1.80: Eggo, $1.85; charcoal. 50-lb
sacks, per 100 pounds. $2.00.
SHORTS—White. 100-Ib. sacks, $175:
Halllday, white. 100-lb. sack9, $1.70;
Jandy middling, 100-lb. sacks, $1.76;
fancy, 75-lb. sacks. $1.75; P. W . 75-lb.
sacks, $1.65; brown, 100-Ib. sacks, $1.55;
Georgia feed, 75-lb. sacVs, $1.55; dlover
leaf. 76-lb sacks. $1.60; bran. 76-lb.
sacks. $1.25; 100-lb sacks. $125; 50-lb.
sacks. $1.30; Homeoline, $1.50; Germ
meal, Homeo. $1.50.
GROUND FFED—Purina feed. 175-lh.
sacks, $1.70; Purina molasses feed. $1.60:
Arab horse feed, $1.70; Allneeda feed.
$1.65; Suerene dairy feed. $1.50; Mono
gram. 10-lb sacks. $1.60; Victory
horse feed, 100-lb. sacks. $1.60; ABC
feed. $1.55; milk dairy feed. $1.66; alfalfa
molasses meal. $1.75; alfalfa meal. $1.40;
beet pulp, 100-lb. sacks, $1.60.
HAY—Per hundredweignt: Timothy
choice, large bales. $1.20; Ivgt- fancy
light cloved mixed. $1.15; No. 1 small
bales, $1.10; No 2 small $1; alfalfa pea
green, $1.10. clover bay $1.20, Timothy
standard. $1.05. Timothy small bales $1,
wheal straw 70c, Bermuda hay 90c. No
1 $1.20. wheat straw 70c, Bermuda hay
»0c.
GROCERIES.
SUGAR—Per pound: Standard gran
ulated 5c, New York refined 4%c, plan
tation 4 85c.
COFFEE—Roasted (Arbuckle) $24.50,
\ A A A $14.50 in bulk. In bags and bar
rels $21, green 20c.
RICE—Head 4%@5%c, fancy head 5%
XL6%o. according to grade.
LARD—Rflver ’eaf 13c pound, Scoco
4%'’ pound, Flake White 8%c ”otto-
! lene $7.20 per case. Snowdrift $5.86 per
case.
STOCK MARKET
By CHARLES W. STORM.
NEW YORK, July 30.—The feature
during the first fifteen minutes of trad
ing on the Stock Exchange to-day was
the Arts sale at 59% of United States
Steel common. This showed a net gain
of over a point The advance, however,
did not bring the issue here up t«» the
level established in London before the
opening In New Yohk. In Europe (he
stock was traded in on a large scale
above 60.
The traders said it was another case
of selling on good news and the realiz
ing was effective in preventing the price
here passing the London quotation.
The rest of the market displayed a
wavering tone. Prices as a rule were
generally above last night’s closing.
Trading in London was dull.
The curb market was steady.
NEW YORK STOCK MARKET.
Stock quotations to noon.
STOCK— High.
Amal. Cop. . . 71
Am. B. Sugar . 27%
Am. Cota... . 33%
do. pr$f. . .93%
Am. Car Foun. 45%
Am. Cot. 041 . 41
Am. Ice. . . 23%
Am. Loco. . .32%
Am. Smelt.. 64
Am. T. and T.128%
Anaconda . . 36
Atchison. . . 99%
All. C. L. . .120%
C. and O. , . 56%
Beth. Steel . . 35
B. R. T.. . . 88%
Can. Pacific. .217%
C. and O. . . . 56%
Colo. F. and I. 32
Consol. Gas. .132
Distil. Secur. . 15
Erie 28%
do. pref. . .46%
G. N. pref. . .126
Ill. Cen 113%
Interboro . . .15%
do. pref. . . 69
K. C. S. . . . 27%
M. , K. and T. 22%
L. Valley. . . 151 Vi
L. and N. . . 134
Mo. Pacific. . 33%
N. Y. Central 99%
Nat. Lead . . 49%
No. Pacific. . 110%
O. and W. . . 29%
Penna 114%
Reading. . . . 160%
R. I. and Steel 24%
Rock Island. . 17%
do. pfd.. . . 29%
So. Pacific . . 93%
So. Railway . 24%
St. Paul . . . 106%
Tenn. Copper. 31%
Union Pacific.. 149%
U. S. Steel . . 59%
do. pfd.. . . 108%
Utah Copper. 48%
Wabash. ... 2%
do. pfd.. . . 7%
W. Electric. . 64Vs
108 V
48
64
STOCK GOSSIP
BAR SILVER.
T OYDON, July 30.—Bar silver quiet.
27 %d.
The quarterly statement of earnings
of United States Steel Corporation was
an agreeable surprise yesterday. This
is the best barometer of trade condi
tions in the country, and shows that
business expansion continues, and that
existing conditions should justify a
higher level of security prices. I am
bullish -on stocks and believe the buyer
of to-day will have an opportunity of
securing a handsome profit before the
end of (he year.—T. D. Potter.
Uncertain political conditions abroad
exert a restraining influence upon stock
market activities. Information chan
nels continue to reflect a cheerful out
look We would look for good buying
opportunities in standard and attractive
issues for fair profits.—New York
Financial Bureau.
* * #
United States Steel Corporation re
ports best quarter since 1907; net earn
ings of $41,219,513 in three months end
ing June 30. at annual rate of 7 per
cent on preferred and 15.7 per cent ftn
common. Earnings for the quarter in
creased $16,117,648. Sinking fund $7,629,-
785; increase $2,554,666; halance $33,590.-
028; increase $13,562,882; balance after
preferred dividends had been paid ag
gregated $33,696,527, which is equal to
6.63 per cent on $508,302,500 common
stock for the six months.
* * *
The Inland Steel Company for year
ended June 30. earned 21.95 per cent on
capital stock against 12.38 the previous
year.
* * *
It is said that the majority of Demo
cratic leaders are opposed to reopening
money trust investigation by inquiry
into Secretary McAdoo's charges of bank
conspiracy to depress the price of Gov
ernment 2 per cent bonds.
* * *
The stock exchange begins Inquiry into
short sale of Government 2 per cent
bonds made Saturday. Bonds were pur
chased by the National City Bank.
* * *
American stocks in London firm, gen
erally % to % higher. Steel was. a
strong feature, advancing 1% points.
Grain Notes
New high levels for all cereals.
• • •
The export business In wheat last
week was placed at more than 5,000,(M>0
bushels.
• * *
The Kansas City Star reports the
Kansas corn crop the worst since 1901,
when the crop was 62,000.000 bushels.
• * •
John Inglis is reported estimating the
winter wheat crop at 475,090,000 bush
els; spring wheat 225,000.000 bushels, a
total of 700.000,000. He placed Canada’s
crop at 170.000,00 bushels against 205,-
000,000 last year
* * •
According to Slement, Curtis A* Co.,
the winter wheat yield is about 500.-
000,000 nushels, spring wheat expecta
tions 230,000,000; corn condition 80.
promising a crop of 2,830,000,00 bushels,
or about the same as last year, but
prospects are on the decline, against
Improvements last year Oats crop
about 1,000,000.000 bushels or 44)0,000,000
bushels under last year's final.
• • •
J. G. Steever & Co., of Chicago, say
of provisions: “During last week Chi
cago packed 40,000 more hogs than the
same week last year, while Western
receipts were 88.000 larger: Chicago's
net out-movement of lard was 200.000
pounds, and of meals 4,000.000 pounds
larger than a year ago. Next week
135,000 hogs are expected hut as last
week's liberal run broke prices nearly
25 cents, a decrease from above esti
mates is probable. Last year’s receipts
were 45,213 and 130,651.”-
* • *
The Chicago Inter Ocean says: “It
would not be surprising to the wheat
trade to see lower prices to-day. Should
corn advance, however, the talent may
be disappointed: with high tempera
tures over the Northwest, it might be
easy to get up a small crop scare. With
continued hot dry weather the corn
crop is expected to deteriorate and
there is no telling how high prices mat
go. The country has commenced to
back their bullish crop reports with
substantial buying orders, and they
have the market in hand to a great ex
tent.
“Patten is bullish and the Armour
interests bearish Gats specialists who ,
are bullish are looking for a sharp ris« j
in prices should corn continue to ad t
vance One local operator ciedits-
with buying ere million bushel®, p-*-^
December.
^S?<xxxxxx>coocccoc<
ooooo^
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This beautiful American Flag, the very latest, with 48
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Tins COUPON and 90c entitles the holder to an American Flag:, 5 feet
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THE ATLANTA GEORGIAN
20 EAST ALABAMA ST. 35 PEACHTREE ST.
Flags will be mailed at an additional charge of 10c for postage.
i
Every man is proud to say he is an American, and it is
his duty to see that “Old Glory is flung to the breeze” on
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See that you have one of these flags at your office or at
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Take advantage of this offer.
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Atlanta Georgian i-i
20 East Alabama Street 35 Peachtree Street
ATLANTA. GA.