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HEARST’S SUNDAY AMERICAN, ATLANTA, GA., SUNDAY, SEPTEMBER 7, 1913.
News and Views hy Experts of Finance, Industry, Crops and Commerce
PRICE EXPECTS Great Demand for Agricultural Brains;
Many Openings at Attractive Salaries
Drouth Eliminates Top Bolls, He
Says—State Still Sits in
Favored Position.
Agricultural Education Pays on Farm; Farm Demonstration Agents,
for Agricultural High Schools, for United States Bureau of AgrP
culture, for Agricultural Propaganda of Railroads.
By CHARLES A. WHITTLE.
FIFTEEN CENT East Needs Little to
COTTON LIKELY ^ nsure Splendid Crop
Moderate Rains and Average Frost Date Will
Put Proper Climax on Year.
Georgia fitate College of Agriculture.
By M. A. ROSE
Two million hales will bp the total ■
of Georgia's crop for the 1913-1914 ;
cotton year.
Three weeks ago It looked a* If
Georgia might produce 2,500,000 bales. |
J. D. Price, Commissioner of Agri- j
culture. Is responsible for the esti- ,
mate. Ho has revised his earlier
opinion of the crop, has scaled down |
his estimate, admits he feels "blue ’
This is a surprise. The Govern
ment report of condition as of August I
25 showed Georgia with a crop 76 j
per cent of normal. More, it Indi
cated that, contrary to the usual or
der of things, the month had brought !
no deterioration.
August is almost bound to cost cot
ton several points In condition, points
which can not be regained. Georgia
seemed to be "standing pat." So
there was considerable gloating while
the gloating was good
Drouth, says Mr. Price, Is the fac
tor which has cost the State a half
million bales of cotton.
"My desk is stacked with letters,
every one of them bringing complaint
from North, Northeast and Central
Georgia that the squares which were
to have made the top crop are fall
ing off.
Plant Is Beautiful.
"Some letters put the damage as
high as 25 per cent. From South
Georgia comes the comment thar
while the plant is beautiful and thrif
ty, close inspection reveals a paucity
of bolls, while it 1r evident the cotton
is three weeks late.
"Worst of all, the damage is done.
Rain now can not replace the fallen
ooIIb, nor can It bring new blooms to
fruit at this date.
‘The most it can do is prevent
premature opening, which has been
one trouble this season.”
Georgia’s crop last year was 1.888,-
000 bales. A crop of 2.000,000 bales is
not to be held In contempt The gain
of 112,0U0 bales means $7,000,000 gain
in money for Georgia, with 13-cent
cotton. TMlrteen-eent cotton seems
assured—some radicals look for 15
cents as not an improbable price for
middling.
If Mr. Price’s assumption that the
top crop is gone proves correct, the
date of frost matters not at all. But
if Mr. Prlca is mistaken as. of course,
he may be, the date of frost will be
all-important.
The average date of killing frowt In
the vicinity of Atlanta is November 5
The earliest killing frost recorded \v i i
October 11, this being in 1906. The
latent deferred serious frost was No
vember 29. 1889. Last year frost was
ahead of the average by two days. In
1911 it fell on November 13; the year
before on October 29.
Weather Man Cautious.
The weather man is cautious, very
cautious, indeed, about forecasting.
He will go so far as to say that the
chances favor a frost date this year
somewhat later than the average.
If there’s any top crop left the
chances then are that the weather
man will allow ll to open. And that’s
encouraging.
This is not to be taken as a gloom
column. Suppose, just for tne sake of
making it emphatic, that Georgia
through some impossible ill luck,
raised no more cotton this year than
last year—1.88$.000 bales. Even then
ehe will have a better crop in propor
tion than Texas or Oklahoma. She
will, by latest Indications, have a bet
ter crop in proportion than Missis
sippi or Alabama. Louisiana no long
er is a factor to be considered.
Georgia has made the crop at less
expense than ever before was believed
possible.
There will be no 16.000,000 bales tide
year—probably not even 15.000,000,
some say not 14.000.000.
Nine-tenths of the trade believes
the present high prices conservative
—it’s a bull year.
So things look good for Georgia.
$293,000 Steel Bonds
Withdrawn by Lot
Clerk Takes 293 Numbers from
Hogshead Containing 186,000
Disks—Winners Get Premium.
NEW YORK. Sept. 6.—By drawing
293 numbers out of a large mahogany
hogshead containing 186.0,00 enumer
ated celluloid disks, employees of J.
P. Morgan & Co. have withdrawn by
lot $293,000 United States Steel Cor
poration 5 per cent sinking fund
bonds for redemption November 1.
There are $186,000,000 of these
bonds in the hands of the public. The
securities drawn will be redeemed at
par and a 10 per cent premium, so
that the owners of the securities will
anxiously await announcement of the
lucky numbers
Redemption of the bonds is being
made out of the accumulated interest
on $13,000,000 of the securities which
were purchased from time to time
in the open market.
It Is estimated that the rapid in
crease in the annual amount in the
company's sinking funds due to ac
cumulation of interest will enable the
redemption of all the bonds thirteen
years before their maturity In 1963.
COPPER SHARES ADVANCE
AS META! GOES UP
BOSTON, Sept. 6.—In a period of
• little over two months there has
been an appreciation of over $102 *
900.000 In the market value of 32
representative Boston copper shares
Low prices for the year were made
about the middle of June, when cop
per the metal was to be had at 14 7-8
tents. Since the upward movement
in copper shares started, the metal
has advanced.
The share® of the Lake Superior
companies have advanced despite the
closing down of al! the mines in that
district.
Back to the farm with your brains!
Brains will pay well on the farm,
especially if they have been trained
in things agricultural.
At this season of the year the sons
of the farm arc* preparing to fill thr*
halls of learning and get brain power.
Many of them have no definite idea of
what they are going to do when they
have completed their courses. Oth< rs
have a notion that if they get an edu
cation they must forsooth turn to
other occupations than farming. Most
of both classes may find that, after
futile efforts to struggle up into place
in the fiercely competitive commer
cial world, their hearts pine for the
farm land, and they would return
to it for that longed for Independ
ence, wholesomeness arid inbred in
stinct for husbandry. But with all
their getting they have failed to get
agricultural knowledge, and to return
to the farm is to drop into the ruts
of time-worn and profitless ways.
It’s a Liberal Education.
The farm lad can find no education
better suited to him than an agricul
tural course. Since an agricultural
course also means a liberal educa
tion In other courses nothing is lost
in culture, or whatever the uses of a
general education, by specializing
upon things agricultural Nothing
will ever stand him in better stead,
whatever life pursuit he may follow,
whatever disaster may befall, than a
knowledge of the principles of agri
culture and how they can be b^st
applied for the greatest success.
The demand for trained agricul
turists Is great and growing. It wU I
he an immense task for the agricuj^j
tural colleges to furnish the men th w
are required for the new farm era.
The agricultural teachers are more in .
demand to-day than any other kind
and at better salaries, because of their
growing scarcity in consequence ofl
the great demand. No institution is
coming Into existence with such tre
mendous rapidity as the agricultural .
high school, and nothing hinders J
thvir increase so much as lack of
trained teachers.
Movement Sweeps U. S.
A movement which is sweeping the
country from one end to the other is
the farm demonstration agent mov°-
ment. The educated and trained ag
riculturist can not complete his course
without innumerable demands upon his
service at excellent salaries. The ideal
farm demonstration agent, of course,
Is the educated, college-trained agri
culturist, whose scientific knowledge
and general information the farmers
want. Here in the South the farm
demonstration agent is in great de
mand. The great difficulty is to get
men with agricultural training, an!
those in authority have to be con
tent to use such men as they can
find among the farmers for inaugu
rating the work.
In other sections of the country the
demonstrator is a superintendent, his
rvices are rendered to all farmers
who join in his employment, by ren
dering advice, assisting them to adopt
new methods. In a sense he is the
modern efficiency engineer for the
farm.
This movement of employing agri
cultural specialists has only begun in
this country. It is bound to assume
great proportions, and as an inviting
avenue of occupation for a young
man on the farm, farm demonstra
tion work or farm superintendency
work, is very promising.
The trained and scientific agricul
turist is not only in demand for the
schools and for demonstration work,
but there is a great demand, hard to
till, created by the Bureau of Agri
culture of the United States. Tl.fi
army of agricultural workers employ*
ed by this bureau is large and con
stantly growing. Legislation prom
ises soon to lie enacted that will
greatly increase the demand for this
class of workers, not only for farm
and laboratory work in this country,
but in the foreign dependencies.
Colleges Are Increasing.
The agricultural colleges with their
experimental stations are increasing
every year in their magnitude and in
their scope of operation. These in
stitutions present exceedingly attrac
tive places. They are continually on
the lookout for the most promising
graduates of every agricultural in
stitution in the country. The sala
ries which they pay are higher than
that paid in other lines of education.
Railroads and large industrial con
cerns have taken up the cause of ag
riculture, and the demonstration farm
and the trained agriculturists assist
ing the farmer with advice is coming
to be a work of large proportions,
necessitating the employment of a
large body of men. These industrial
enterprises realize that it pays to
invest in brains trained in agricul
ture.
But with all these incentives for
agricultural courses, the young man
on the farm will find that there is a
very important one in addition, and
that is the possibilities of the old
farm itself, when they are opened up
to his vision by agricultural informa
tion and training. The story of suc
cess of men who have received the
highest agricultural training could
be told over and over. The writer
has one in mind, that of a horticul
turist, a teacher in a .State university,
who, feeling the call back to the
farm, forsook his salary and attrac
tive surroundings and went into the
trucking business. He never spent
a year on the farm that he did not
make several times more than his
1 ormer college salary. But he was too
valuable a teacher to be left at the
farm, and the insistent call came till
he went back to the college and went
to the the position of dean of the
State College of Agriculture of I’enn-
sylvania.
Agriculture Diversified.
Tbe educated agriculturists of the
Southern colleges are doing most in
their farming operations in the South
by growing other things than cotton,
b.v applying their knowledge of live
stock husbandry, of trucking, diver
sified agriculture, their knowledge of
'Top rotation, their information about
ffiil fertility, how to supply the de
ficiencies at least cost bv miking their
own fertilizers, by using advanced
methods of marketing to get the best
prices; by dairying, by raising pure
bred stock, by raising rather than
buying feedstuff and live stock for
food and for work.
Of course, there are many men who
have not had tfie advantages of an
agricultural education who have
learned and are practicing with great
succeps some lines of agriculture.
These are exceptional men. They are
men with progressive ideas, men who
will tell you that one of the things
they would appreciate most la an ag
ricultural education. None of them?
successful farmers stand In the way
of agricultural education by their
own volition. They are always its
best friends. It is always the un
successful farmer who is attempting
to discount agricultural education.
But there is more than success in
any kind of vocational training to be
gained. Why should not the farmer
have brains, culture, refinement as
much as a man in any other call
ing of life?
Cultured Planter Passing.
The day was when the Southern
planter as a rule was as refined and
cultured as anybody on earth. It is
not so much so now following the
devastation of the Civil War and with
the departure of the slave system
which made possible a life of greater
luxury and refinement. Many who
then received their collegiate educa
tion found that they were not able
to give it to their sons and too often
the sons have not felt able or in
clined to give a collegiate education
to their sons in turn. Thus has the
rural South fallen away to an ap
preciablef extent from its former glory
of culture and refinement.
The former high status of the
planter of the South in the social sys
tem of the State can not now be re
stored except by agricultural educa
tion.
The Southern Slates being agricul
tural in resources and activities, is
it not fair that its leaders in legisla
tion and civic promotion should be
agriculnjrists? How far is it so?
It can be almost literally asserted
that farmers as a class are not repre
sented in legislation. It is the lawyer,
the doctor and the newspaper man
wlTo assume the political power. Why
is it htat a measure affecting
the welfare of the farmer is turned
lightly aside in the legislature? Why,
for instance, would a legislature turn
down an appropriation for $2,500 in
Georgia for farmers’ institutes at the
very time the newspapers were re
cording that as many as 41,000 farm
ers had attended the institute during
the summer, instites which had been
held by the use of a similar amount
asked for?W hy these and many other
inequalities falling upon the farming
class at the hands of the legisla
tures? The answer is that because
the farmer is not represented in the
legislative halls. The reason he is
not tehre is that he has not been edu
cated and trained to meet other class
es there represented and demand and
contest for his rights
Legislation favorable to the farmer
Is, therefore, another reason for brains
on the farm.
South Is Reorganizing.
The South is undergoing a period
of reorganization of its rural life, into
which enters a serious racial prob
lein. The white man’s school and
hurch in the country the involved
Men of trained minds and large and
clear vision are needed to work out
in every community its local prob
lems. It is the call for brains.
The agricultural South will come to
be more and more co-operative in its
growing, buying and marketing en
terprises. To the extent the farmers
are trained and are able to conduct
their business in a highly business
like way, without having to hire
brains for the purpose on the out
side, the more profit there will be to
the farmer. A call for brains on the
fa rm!
The days for entering college have
arrived. Which college? Will the
farmer make a mistake at this im
portant point? Will he spoil a splen
did farmer? Will he have his sons
educated away from the farm?
Second Generation
Of Weevils Eating
Mississippi Cotton
Farmers Lose Optimistic Feeling of
Two Weeks Ago—Fancy Wages
Offered Pickers.
JACKSON. MISS.. Sept. 6. - Re
ports from nearly all sections of the
State infested by the boll weevil in
dicate marked deterioration in cotton
crop prospects, due to the industry of
the second crop «>f weevils.
The farmers who were talking with
so much optimism two weeks ago
concerning the fight with the weevil
are looking a bit more serious, and
frankly admit that the pest is playing
havoc.
The new generation of weevils has
destroyed millions of blooms and
squares during the past few days,
and will destroy many more. Only
in the northern section of the Delta
arc the planters confident that the
staple is not going to be injured to
an> extent by the insects.
in fields where early cotton was
planted there is already a good bot
tom crop made, and it can not be
damaged, but prospects for a top
crop look rather slim.
After destroying blooms and
squares the insects next attack the
bolls, but the early varieties are so
far advanced toward maturity that
they will not be able to do much
harm.
However, even with a full second
crop of weevils actively at work, it
is still practically certain that Mis-
sto ippi’s cotton yield for 1913 will
be larger than that of last year if the
weather continues ordinarily favor
able
Gin plants have started operations
in many counties during the week,
and picking is general in many sec
tions. Fancy wages are offered negro
cotton pickers.
GLOVES FANCY STITCHED.
Wide stitching on fall and winter
gloves, in contrast to the glove color,
is in demand. Although prices of raw
materials are advancing, a manufactur
er said that retail glove prices would
probably no# change Both long and
short varieties are selling readily
SHOES IN COLORS.
The demand for color combinations in
•hoes is increasing One of the latest
examples is .i gaiter boot. This shoe
has a tan calf vamp, a champagne col
ored sueoe quarttr and a Spanish-Cu-
ban heel, covered with tan calf like the
vamp.
An order for 720 freight cars has been
placed by the Southern Hallway.
In the past thirteen years the Penn
sylvania Railroad has retired 7,478 men
under pay.
St. 1 .ouis is to have through passen
ger service to the Pacific coast over the
Missouri Pacific, Denver and Rio Grande
and Western Pacific. New equipment
for this service has been ordered.
A French statistician estimates that
during the holiday season tourists in
Kurope spend $30,000 per hour, or $160.-
OOO.OoO a year. Riviera, Spain and Italy
receive $60 000.OvU in all,-and Switzer
land. $32,000,000
Statistics gathered by the Bureau of
Ij&bor show that machinery turns out
a product ten times greater than possi
ble by hand, and that the United Stales
turns mit twice as much machine prod
uct per laborer as Europe.
Total of foreign securities listed on
the Paris Bourse ten years ago was
$14,000,000,000a now it is $16,140,000,000.
Russian securities alone, which footed
up $2 200,000.000 in 1902, were $2,720,000.-
000 at the end of 1912.
American Investments In Mexico ag
gregate $1,057,770,000. More than 60,000
persons in the United States are share
holders in these enterprises. As against
American investments the English have
interests aggregating $321,202,800, the
French. $143,418,000: and other foreign
countries, $118,535,380.
HOG BRAINS PURCHASED
TO MAKE INTO MEDICINE
According to an article in a Danish
newspaper, a stock sompany has been
formed at the city of Kolding, Den
mark. which will buy from the Dan
ish bog abattoirs all the brains from
hogs they cart produce. From these
brains the comnany will manufacture
"lecithin'* and "collestrln” for ex
port to Germany and Switzerland,
where they are used in the manufac
ture of certain medical preparations.
The brains arej paid for at about three
cents per pound (persumably Dutch
cents, making the three cents equal
1 2-5 cents U S. currency) and on an
average it takes four brains to make
one pound of the above-mentioned
products. Lecithin is a fatty sub
stance. while collestrln Is n dry
powder something like napthaline
BROADCLOTH IN DEMAND.
There are rumors of an increasing
demand for broadcloths The luster
that is produced in the new lines and
the popularity with tyhlch it has al
ready been received, tend to convince
dealers that it will be a big seller
before the end of the year Accord
ing to a local wholesaler, the lateness
of the season will work especially in
favor of the fabric.
Window Trimming
An Art Not Confined
To United States
Atlantan Gives His Views on the
Best Modes of Displaying Mer
chandise Effectively.
At the window dressers’ conven
tion it was said the stores of France
and England presented few attrac
tive window displays because of the
tax formerly levied in England, and
still levied in France, on the window
space in all buildings. This state
ment is not entirely true. Many of
the Paris and London stores can
boast of more window space than
those in this country. One London
store has 87 windows.
An expert Atlanta window trimmer
says, "1 agree with the idea that the
use of mirrors behind displays is det
rimental to the merchandise shown.
"I think well also of the suggestion
that dark windows should have light
displays and light windows dark dis
plays Novelty, not freakish, displays
also help, provided that they can be
made attractive, entertaining and
convincing. These three qualities are
essential to all good window dis
plays.”
STOCK EXCHANGE MEMBERS
CHANGE WITH RAPIDITY
NEW YORK, Sept 6.—The shifting
character of the membership of the
Stock Exchange is well illustrated
by the fact that those who have
joined that body as recently as 1895
are numbered around 275. When a
member is admitted he takes the
number at the foot of the list, 1.100.
and moves up as members die or
older memberships are sold. There
fore but 275 of the 1,100 members in
1895 are members to-day, and the
memberships of the 275 date from
November 20, 1857, to January 1,
1S95 a period of 38 years "Number
One” is J. H Whitehouse, still an
active "two-dollar broker." who will
complete his forty-sixth year of mem
bership November 20.
Few in New Orleans Will Admit
They Believe Present Level of
Prices Too High.
PICTURES ON NECKTIES.
In Engand the craze for novelty
neckwear is bringing out wide four-in-
hand svarfs, with waterplanes flying
over battleships, dancing girls, and
hunting scenes woven at intervals on
the silk.
NEW ORLEANS, Sept. 6.—A run
away bull market, reminiscent of the
Sully year, has kept the cotton ring
of the New Orleans Cotton Exchange
in constant turmoil and uproar the
past week.
Bullish sentiment gained headway
over the Labor Day holidays, and
when the market reopened Tuesday
morning, buying orders on a large
scale had accumulated, and their ex
ecution set prices Spinning upward
at once. Even before the bureau re
port had come out, showing disas
trous crop conditions in the western
belt, with an average condition 6.5
points below the ten-year average,
the market had advanced to 12 1-2
cents for December contracts.
After the report was issued short
covering on an immense scale set in,
and the level of 13 cents was prac
tically attained Tuesday afternoon.
Liverpool Seems Dismayed.
Wednesday morning Liverpool was
“up in the air,” having taken the
Government report very seriously
Indeed. Professionals played for a
reaction, but when the weekly weath
er report was read, showing that the
drouth was spreading to the pentral
and eastern belt, another violent cov
ering movement took place, and Jan
uary contracts sold as high as 13.41.
From that level a recession followed
as a result of heavy profit-taking Dn
the part of longs, reports of scat
tered rains in Texas also inducing
some fresh short selling.
With Secretary Hester's annual
crop statement, showing that the
consumption of American cotton dur
ing the season of 1912-13 was 14,900,-
000 bales, despite the detriment to
trade on account of the Balkan war
and tariff agitation, the proposition
that now confronts the cotton trade
is: To what level will prices go if
the present crop should be closer to
13,000,0000 than to 15,000,000?
The crop for Texas and Oklahoma
combined now is conservatively es
timated at only 4,900,000 bales, and
should the deterioration now report
ed from many portions of the central
and eastern belt continue, the out
look would be for a very small crop.
Consequently, notwithstanding the
sensational advance that has taken
place, few of the trade here are in
clined to admit that the present level
of values is high in the face of the
conditions that prevail.
Talk 15 Cents.
In fact, there are some well-in
formed cotton people who are now
talking 15 cents for cotton by Janu
ary 1.
The spot situation, In sympathy,
with the advance in futures, Jras
strengthened, and the export demand
is reviving on a large scale. Some
of the farmers shipping to this mar
ket show an inclination to hold for
higher prices, and consequently the
expected heavy receipts may not be
such a depressing factor as some of
the bears hope.
All indications point to this being
another bull year, and such being the
case, the Southern farmer will de
mand full value for an article which
he knows the whole world Deeds.
American Underwear
Beyond Competition
Comfort, Style and Workmanship
Excel Anything Foreign Makers
Can Accomplish.
American underwear is sold in nearly
every civilized country on the globe.
The comfort of short-sleeve and short-
leg garments, as well as the union suit
and athletic garments all ol which
originated here, is given as the reason
for the world-wide popularity of these
goods. Nearly all foreign-made sus
penders are more clumsy than the
American and none can compare with
the attractiveness of styles and pat
terns arul :he fineness of workmanship
displaveTI in the American products
The san e may be said of foreign-made
belts. They are too bulky and few are
less than two inches vide Our nar
rower belts are in heavy demand in the
hot countries, and have little competi
tion. There is also little foreign com
petition in garters, and practically ad
o. Europe and Central ani South
America are supplied by American mak
ers. In addition, the duties in those
countries make it difficult for foreign
dealers to compete.
Our exports of umbrellas and canes
have been comparatively small, and
mostly to Canada and South America.
The German and English makers bend
wood better than we can, but on the
other hand there are American houses
that produce mountings that can not be
duplicated.
Woolworth Sales
Show Big Increase
Gain for July Alone $424,484. and 37
New Stores Have Been Opened
This Year.
NEW YORK, Sept. 6.—F. W. Wool-
worth Company sales for the first
seven months of 1913 increased $3,-
225,782 over the same period of 1912.
Gain in July alone was $424,484.
These figures do not include sales by
F. W. Woolworth & Co., Ltd., of
England, from which the American
company obtains a percentage of
earnings annually. While this com
pany has been located in England only
three or four years, It has made ex
cellent progress, and to-day its stores
number 25. with four or five more
to be opened before the end of the
year. At present rate of business the
American company ought to receive
about $100,000 from the English busi
ness in 1913.
During the current year expansion
by the American company has been
even larger than during 1912, when
40 stores were opened. To date 37
new’ stores have been opened and 17
contracted for to be opened before
the close of 1913. This places the
total in operation at 66S, and the 17
' be opened will bring the total to
685.
MEMPHIS, Sept. 6.—-The Govern
ment report on the condition of the
cotton crop confirmed the most ex
treme bullish expectations, and has
led to a sharp revision of expecta
tions of yield. The figures 68.2 of
themselves would have caused reduc
tion of guesses, and, besides, since
the date of making up the percentage,
there have been continued unfavor
able conditions over a large portion of
the belt. The deterioration that had
gone so far has continued, and some
sections, which to that time had ut
tered little complaint, since have re
ported considerable damage from dry
weather and high temperatures.
The effect of the low condition fig
ures was startling. The indicated
crop, taking the official basis of lint
yield per acre for calculations, point
ed to an outturn around 13,000,000
bales. There were many traders who
thought such an amount very likely,
though others recalled that two years
ago the September condition report
was 73.2 per cent, yet final crop fig
ures were above 16,000,000. That year
the crop received plenty of rains the
latter part of August and early in
September, bringing about a wonder
ful change in prospects, while frost
date was late, enabling the late
growth all to mature. TJiis year the
territorj' where rains are needed has
been widening during the latter part
of August and to the present time.
Much of the crop is practically past
help, and general rains would do more
harm than good.
Oklahoma’s Loss Severe.
The loss in condition in Oklahoma,
being given at 36 points, standing at
45 compared w'ith 81 a month pre
vious, was the most severe ever ex
perienced by any State since these re
ports have been issued. Texas and
Arkansas also suffered severely, and
all three States no doubt have gone
back more during the past two weeks.
Mississippi, Alabama and Tennessee
lost more than normally for the
month, though portions of those
States have done very well, and have
good prospects. In the weevil dis
trict of Mississippi, deterioration was
very heavy. All three States need
rain at the present time, and with
out rain will continue to show de
creased prospects.
The showing made by the Eastern
States met expectations, and the feel
ing here is that the East needs only
a moderate amount of moisture from
now on and a frost not too early.
Another important factor In the
sharp advance in the market w’as the
report of Secretary Hester, of the
New Orleans Cotton Exchange, on
what American cotton the world con
sumed during the paRt season. He
fixed the amount at 14,903,000 bales,
which compared with 14,515,000 for
the previous season.
Trade Surprised.
The trade during the past few
months had made up its mind the
amount w r ould be 14,700,000 bales. The
commercial crop of the season Just
ended w r as but 14,167,000 bales, so
there was an actual withdrawal from
reserves of about 750,000 bales. This
was done with Europe involved in
serious troubles, political and finan
cially, and with the United States in
the throes of a Presidential campaign
and a change in her tariff system
contemplated. The showing was re
garded as remarkable, andf coming
with the bureau condition report, had
a tendency to awaken the spinners
and shorts.
The spot situation is the subject
of close attention, but spots did not
keep pace with futures in respond
ing to the changed aspect of supply
and demand. The first reflection of
the revised situation was naturally in
the contract department, and it has
been said that much of the buying
came from the spinners and the spot
interests. The profit-taking by the
speculative crowd and those who
thought the rise too rapid failed to
check it much below 13 cents, though
that level reported an upturn of over
250 points from the low level of about
the middle of August.
Spot Prices Advanced.
Spot prices have been advanced,
but business has not been as keen
as some expected, one reason, how
ever, being that offers were not press
ed and holders did not care to sell
until they could get a better line on
values. When middling at the chief
centers reached 12 3-4 cents, con
tracts were somewhat above 13 cents,
so many traders and spot people w’ere
disposed to put out hedges, which
helped to check the rise. It w'as the
first time in months that futures
were higher than spots in the belt.
Picking is general in all sections
of the Central and Western belt, and
it is expected the September move
ment w’ill break all records. There is
no complaint anywhere of insufficient
funds.
nun sees
L
With the opening of the Panama
Canal and the development of the
markets in Central and South Amer
ica, Atlanta merchants and manufac
turers are casting their eyes to the
new field, and studying the points
which may enable them to distance
competitors, who at present ignore
many things they might heed with
profit.
A subject of complaint among
merchants and importers in Central
America is the failure of some busi
ness houses in the United States to
make prompt shipments and to exer
cise care in getting off consular In
voices so that they will arrive simul
taneously with the goods or before
them.
With boats arriving once a week
w^here the service is of the best at a
Central American port, and two or
more weeks apart at the smaller
ports, to miss a steamer with a ship
ment when the goods are confidently
expected by the importer is a serious
matter.
If the buyer is a merchant In the
Interior he has probably sent a pack
train or has engaged a force of Indian
oargadores to be at the port, relying
upon the assurance that the goods will
be shipped on a certain vessel.
Delays Are Serious.
Failure to ship according to instruc
tions means a delay of at least a
week, and in all probability tw r o or
three weeks The houses that hold
the Central American trade are the
ones that are most careful about get
ting their shipments off on time.
Intimately connected with prompt
shipments. Commercial Agent Ger-
rard Harris points out in a recent re
port, is the matter of having consular
invoices available when the shipments
arrive at their destined port.
If merchandise has been sent ac
cording to schedule and the consular
invoice comes along a week later, the
goods can not be cleared from the
customs house until the invoice is at
hand. The general Idea is that the
people of Central Ajnerica are easy
going, but it is an error to assume
that business men there do not care
for the observation of strict business
methods in dealing with their ship
ments.
Not Considerate.
A third cause of complaint against
American business houses is that they
are not inclined to be considerate and
accommodating in small matters. As
an example is cited the experience of
a business man in the interior, who
gave an order of considerable size to
a house soliciting the business. In
addition to the goods handled by the
firm to w’hich the order was given, a
request was made that there be in
cluded in the shipment an article that
the Central American did not know’
where to purchase.
The firm that received the order
could have bought the article and
included it without any trouble, but
Instead of so doing the United States
firm listed the article on the invoice
and after it merely wrote, "Don’t
handle." There was no explanation.
Some three months afterward the
traveling representative of that firm
was astonished when the Central
American informd him that he did
not care to have any further business
relation* with it.
E
Atlantans next season may have the
opportunity of sampling th« latest
thing In the way of food products—
dried cantaloupe.
Dried cantaloupe Is a hrand-new
thing. Out In California, where they
raise big crops of cantaloupes, many
of the melons are a little too small, for
the trade. Thad D. McCall, of Im
perial, Cal., conceived the idea of dry
ing these melons. The result was a
dried fruit of exceptionally fine fla
vor. Now he is thinking of going into
the business on a large scale.
H. H. Whitcomb & Burke Co., At
lanta's foremost grocery brokers, saw
in the newspapers brief reports of
McCall's experiments. Believing the
Atlanta trade -would take kindly to
the innovation, McCall was asked for
samples and for Information. His
letter Is interesting.
“Relative to your Inquiry about
dried cantaloupes,” he writes "the
supply -was very limited, and' local
demand has been far greater than the
supply. Hope to come nearer supply
ing the demand next season. As to
the success of dried cantaloupes, they
are fine eating, and the Interest
shown by letters fro.n every part of
the United States and some from over
the borders would indicate that the
market Is ready for lots of this fruit.
It much resembles evaporated apples!
May Use Cartons.
"I may pack in cartons, if I get or
ders enough.
"The shrinkage is materially mor»
than other fruits and the weather a
shade hotter than the hot place ought
to be when the cantaloupe season la
on here, so prices will be good if I
pioneer the game.”
He concludes by asking how At
lanta wants the goods packed and
what the trade here will pay for the
product.
In reply, Whitcomb, Burke & Co.
express themselves as anxious to in
troduce the product In the South, and
say that if the fruit Is up to its ad
vance notices it ought to bring good
prices.
It seems to be like the dehydrated
berries, rhubarb and vegetables, which
have proved so great a success, and
which, by the addition of cold water,
return to their original plumpness
and flavor.
McCall Is Enterprising.
McCall seems to be a most enter
prising ranchman. He Is one of the
pioneer cotton growers In the Impe
rial Valley, where a very fine long
staple has been raised for the past
few years.
"Dried cantaloupe may be as fa
miliar In a few’ years as Is canned
asparagus." says W. M. Burke. "Sev
en or eight years ago everyone
thought It impossible to can aspara
gus. R. Hlckmott, of California, de
clared he could do it and turn out
an edible superior to the vegetable as
It comes fresh from the garden. How
w’ell he and the host of canners who
have followed in his footsteps have
succeeded is a matter of common
knowledge to-day."
Gross Earnings Make Gain Which
Is Eaten Up by the Heavy
Upkeep Charges.
NEW YORK, Sept. It Is neces
sary to go back'to the fiscal year 1908
to find smaller net earnings for Louis
ville and Nashville than the $12,913,-
620 reported for twelve months ended
June 30. In the Intervening period.
1910, net after taxes reached as high
as $15,966,402, when gross earnings
were some $7,000,000 below those of
the past fiscal year.
The increase In gross for the year
just ended amounted to $2,328,665, or
6.72 per cent. Net showed a decrease
of $1,808,977, or 12.24 per cent, as com
pared with previous year, the reason
for which Is not hard to find. Ex
penditures for maintenance of way In
creased $2,204,380, or 24.96 per cent
over the previous year At the same
time there was expended on mainte
nance of equipment $1,145,585, or 11,88
per cent more than In 1912.
For the last four years maintenance
expenditures have exceeded those for
conducting transportation, but it re
mained for the 1913 year to show
charges for maintenance practically 4
per cent of gross above transporta
tion costs. This followed a jump of
two points in 1911 over 1910. Not
many roads put as much back Into
property as they spend in moving
traffic.
In ten months to April 10 last Louis
ville and Nashville reported surplus
after all charges and sinking funds of
$7,701,398, equal to 10.69 per cent on
$72,000,000 stock outstanding. On $60 -
000,000 stock this would have been
equal to 12.83 per cent. As the $12,-
000,000 new stock was not fully paid
until February, when the final instal
ment of 80 per cent was due, the com
pany to date has received little re
turn from Its additional money.
If to estimated surplus for dividends
Is added the $3,350,000 increase In
maintenance charges show’n for the
year, the former figure would he
brought up to $11,850,000, or equiva
lent to 16 1-2 per cent on the stock.
Umbrella Business
Above Last Year’s
Handles With Animal Heads, Jew.
eled Designs and Change Purses
Are New Styles.
Pall business with umbrella mamrfao-
turers Is more active than last year!
Prices are advancing because of the In
creased cost of materials, but whole-
salers are having little difToulty tn get-
ting; their advances
h»nm2= g ,u noVe]tl * e 1 ? ffere ’’ "■« umbrella
handles the metal tops of which form
vanity cases and change purses. An
imported line of handles is topped with
sterling silver animal heads, Including
« 68 and , monkeys. A strong
fall line is one of slim rosewood, ebony
snakewood and ivory handles with small
gold caps Jeweled handles are shown
by a leading house. These are closelv
studded, for about eight inches at tha
top, with rhinestones, garnets tur
quoises and topazes In pleasing combi
nations. A line of children's umbrellas
Is topped with colored fruits, nuts and
animal heads.
A novelty in tassels Is a square-shaped
one w’hich forma a crocheted silk pocket
containing a small mirror Another
forms a crocheted change purse and has
a metel cover held shut by a snap clasp.
The fall color trend is toward blue,
green, taupe and black in regular
shapes. A manufacturer said yester
day that freak shapes featured last year
did not sell satisfactorily, and that they
are taboo this season.
France Takes Heavy
Lots of Jap Silk
Allotment for American Consumption
Likely To Be No Larger
Than Last Year’s.
The Lyons, France, manufacturers
have been buying heavily of Japans*#
raw silks this year. This is taken to
indicate that the allotment of Japanese
silks for American consumption will be
no larger this year than last.
Prices are still tending upward Ths
S~P g £ xc £ a c!L ge makln * business mors
difficult at Shanghai. Exorbitant prioe*
are being asked at Canton for the few
lots of silk that are being offered thereu
Buying at New York continues active,
and, while a slight reaction in prices is
expected In certain quarters, there is
little Indication of it yet.
“ALC0” CORPORATION MAY
CLOSE PROVIDENCE PLANT
TRAFFIC FALLS OFF.
Railways of the United Kingdom
carried 31,980,000 fewer passengers in
1812 than In 1911.
One of the interesting phases of
American Locomotive's decision to
liquidate its automobile business Is
the disposition which will be made of
the Providence, R. I„ w’orks. This
property is said to represent a cash
‘" v ® s „ t ™® nt of substantially more than
$2,000,000. American Locomotive di-
^•etorsdld, however, vote to charge
$2,300,000 against surplus as a re-
serve for liquidation of the automo-
blle business. Some of this reserve
K !;. 1 undoubtedly be needed In dispo
sition of cars, taxis and motor trucks
on hand. In fact, it is stated that the
company has over 500 vehicles of va
rious kinds In Providence or In lte
salesrooms w’atting to be sold.
The need of a locomotive works at
Providence is not apparent, and the
locomotive company will probably
continue Its policy of concentrating
production at the larger units like
Schenectady.
PITTSBURG BOND PLAN FAILS.
PITTSBURG, Sept. 6,-CRy Comp
troller Morrow has admitted his plait
to sell city bonds to the people has
fallen through, the issue of $150,000
for street Improvement going in all
probability In a lump aum to the Un
ion Trust Company. Offers from ths
people amounted to only $35,000
COST OF LIVING RISES.
A Government report on the cost
of living among British working class
shows there has been an average ad
vance in seven years of 10 per oent in
fuel, food and clothing taken togeth
er. W ages have increased not near- 4
ly enough to balance the increase in
the cost of living .
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