Atlanta Georgian. (Atlanta, Ga.) 1912-1939, October 01, 1916, Image 3

Atlanta Georgian., October 01, 1916, Page 3A, Image 3

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Newspaper Page Text"THE SUNDAY AMERICAN'S FINANCIAL AND COMMERCIAL PAGE .Traders Anxiously Await Census Figures on Ginnings and Condition—Operations During Week Confined to Evening Up Lines. . There was not a spark of life to the . cotton market last week. On the ~ whole, the market was a slow, draggy o effalr, with price changes the smallest " in months. Traders adopted a watch ful-waltlng attitude, pending the pub ~ lication of two of the most important Government cotton reports to he pro mulgsted this season. ‘ At the close of business Saturdayl the New York future contract market stood 2 points lower to 7 points higher than the closing quotations of the pre vious Saturday. The New Orleans market showed prices unchanged to 11 points net lower, while Liverpool showed a net decline of 20 to 261-2 points. Spots remained practically unchanged from the previous week. Operations were confined almost entirely to evening up In advance of the census report. At no time dur ing the weck were traders Inclined to commit themselves to any extent on elther side. Southern hedge selling and realizing sales encountered ready absorption from Wall street, the West and trade houses, which sustained values within striking distance of the olosing quotations of Saturday, Sep tember 23. Loow temperatures throughout the belt, reported frosts and builish pri vate condition reports stimulated ac “.tive demand. but all the market could do was to back and ngrg Shorts satis fled themselves with diping” and taking hazardous profits . & J.ttribute: s In the Hish market to offerings ' South ‘and o selling of . nst c%o& iready pur- Ehased, tosgher with ex RoL ‘ginnin res, gowever, the ::'lt‘;e{‘ therei ad late in the week on s ein{ Yhat the. Ameri can markets were ho'gdi steady. Record Ginni ected. The Government ng: filgures will be issued at ¢ a. onday, and will show the numberfef bales ginned to September 25. On hour later, the condition report will flashed, show \ ing the condition of/the crop to the game date, a 0 Indicated yleld per acre in pounds. dnd also Indicated to tal production in bales, . Close students of the situation ex ject ginnings to sau all previous vecords, and represent the greatest percentage of the !ot.&cron In his tory. Perfect wea! ring the pe riod has permitied ‘i picking and ginning., Crop ! B are a unit in saying the crot wi gathered ear ller than ever known. E Judzing from privaté. crop reports. . the Governmmt edndition figures k \ikely will be ‘igher than the trade Wes Financial Summary ' The follow ‘A a brief day-to-day ‘summary of mltt essential financial news madepublic last week: " ' MONDAY, SEPTEMBER 25, Atlanta bank cleari , $4,293,000.76; last year, u,m.m.m.m ‘Atianta spot cotton advanced 10 points to 16.00, ’ New York cotton Scored a sharp ad- Yance early in the session on strong Liverpool cables. H vy realizing, how ver, trimmed the vamco in the clos k hour; prices ciosed 3 to 9 points er. New York Stock Exchange had the Nl?st boom day of stock spcuation in its istory. United Stutes Steel soared to 120. New high records were made in the copper issies. Just before the close the . bottom dropped out of the market on selling by timiq speculators. Steel dropped to 114%. The market close nervous. Liquidation by lo depressed whea in the closing hour.n" Marshall Field & Co. reported heav demand for ary goods, , q:g;eet‘s reported record retal M. Bphis Commerctal- 1 mad the °.nt'mon ol &:cono:’gr‘o‘p at b 8 ! ;o.unuter Genera! ted a gain o 85,000,000 for the mot?hm,:f Au‘ﬁ:t b postal savings bany. Wlho'n addressed National Gra! Dealers’ Association at Baltimore o o 8 uliarly related to business, | l esale prices of commodities Ii ÜBL)' 'll(l;l:'- lcgordm'.u:o Bureau « stics sho i:- nm'gor on Noor:." ® highest in TUESDAY, SEPTEMBER 26, Atlanta bank o'earin, $8,836,125.95 last year, $2,481,003 46, - ““A.;l.nu SPOL cotton unchangea ¢t New York cotton closed rnctlcalh‘ lnch-n{od from Monday's close, Re nhewed buying checked the early declina. znt houses and New England mills } go th‘ leading buyeps, New York Stock " Exehange clossd nron:. Union Pacifie .oue«f to 150%. lnr Issues mada new high records. Bieel was exciteq hroaghout the day * Chlc‘fo Wheatideolined Bto 1 cent on %“ on by longs eral reserve got and 'MM bill o gald Government s now friend, not en 08{. Of business, . W, Bllsa'Company declared l”"*l" .'ooatk extra divideng on the ocom ‘:: ; gn'tnl Leather o decla regular qunrl'erli ,li\v;a:wror}yx per c:n! Oh common stock 5 d dividé¢nd of 1 per cent. ™ S { .\VIDNIQDAY. SEPTEMBER 27 Atlanta bank clear ,260,081/.04; Int“ut:, 82,711,007 g, " $4.200,08 - Rta spot goy, was ot 'é‘ is onwo; at xzno(,m . eW York cotten closed 3@5 nts g . Market wag dull and unIIII:: t %“::W’“‘ the day, “Bullish priviate TePOrts had ny effeot on q ol York Btoex n 7 :O.:nonl tln&. h:dv.n‘hg"d rmt; 184% &t the outnet No =) :I‘l'mhllmnutol % b Chichg .K'.“' lower. Recel from Kaneay ;'.,.m‘ the oriop e t;::‘rl 'l u’“ fl% er Sk v o B ’.m}eellral on Ngf?cﬁk and Wes)i --l", .AT Quarts a 1 fl% T * i "‘:. %"":"’3 o?d"\'ge:?nnmmu © T -by Y any, 2 By VICTOR BARRON. éxpected early in the month. One private authority estimates ginnings to date at 4,290,000 to 4,390,- 000 bales. A majority of traders con téid that these figures are too high, The trade looks for the figures to be in the neighborhood of 3,800,000 to 3,- 900,000 bales. The condition figure is expected to be between 57 and 58. Ginnings and condition to Septem ber 25 for the last five years, as fur nished by the United States Depart ment of Agriculture, are given below: Year, Ginnings. Condition. R . s 2,904,000 60.8 B s 3,349,000 73.6 B ik sl 3,237,000 64.1 S 4\ eb e 3,015,000 69.6 R i 3,663,000 71.1 BN i sy 3,312,000 66.6 " Ten-year average el Ny Rapidity of picking and ginning of the crop were emphasized in the Gov ernment’'s weekly weather report is sued last Wednesday. It showed that weather has been favorable for pick ing and that the growers throughout the belt have rushed their staple to the gins because of the high prices. , Mills Large Buyers. Evidence that mills continue heavy buyers of cotton was had in Hester's weekly statement, which showed that spinners’ takings during the week amounted to 207.000 bales, bringing the total takings so far this season up to 1,648,000 bales, against 1,792,000 bales the same period last year and 724.000 the same time in 1014, While exports for the week showed a slight falling off, the total amount ed to 123,711 bales, bringing the total for the season np to 814,180 hales, agalnst 530,817 bales the correspond ing period a vear ago, Public Switches to Stock. There was a noticeable diminution In outside trading during the week, The public, which cleaned up hand some profits in cotton recently, switched their operatlons Into Wall street, where the supreme activity of securities offered considerable specu lative opportunity. After tomorrow's ‘census reports are out of the way the public likelv will be tempted to re enter the cotton market, should the bull movement be resumed. With the ginnings expected to eclipse all records and the condition report sensationally low, lively scenes are expected Monday, The market e {in a healthy condition to accept both renorts, The stage is set, with everyone pa tiently awaiting the two important documents, which will either cause prices to tumble or to soar, condition of the cotton crop at 56.8 per cent; 6.5 below last month. Jo« W. Jay & Co. made the condition of the cotton crop at 59.7 per cent. Government's weekly weather reports was unfavorable. | THURSDAY SEPTEMBER 28. Atlanta bank clearings, $3,823,098.13; last year, $2,711,027.50, ‘Atlanta spot cotton was quoted & points higher at 15.95. New York cotton closed 3 up to 3 points lower. The market ruled dull and featureless. New York Stock Exchange closed ir regular. Republic Iron and Steel soared to 82, for a net gain of 8 points. Less vigor shown in trading. ~ Chicago wheat advanced 2% cents. It was a bull market throughout the day. Inspiration Corpor Company dec.ared extra dividend of 2 per cent. Virginia-Carolina Chemical Company declared regular quarterly dividend of 3 per cent. National Ginners made the condition of the cotton "380 at 598 and placed ginnings at 4,290, to 4,390,000 bales. Henry Ford in urgln% Wilson election denied war is responsible for country's prosperity and sald business of United States has momentum that no man or group of men can stop. FRIDAY, SEPTEMBER 29, | Atlanta bank clearings $4,267,605.35; last year, $2,647,653.00. ‘ Atlanta spot cotton was gquoted un changed at 15.95, | New York cotton closed unchanged to :fpolnu hiihen Trade houses absorbed erings. Frost warning heiped to sus tain values, New York Stock Exchange ciosed strong. United Stateg Steel made a new high record, reaching 120%. All steel shares soared. Reported that new pools were behind these issues, y Chicago wheat dropped on heavy pron(-u\xlnl by bulls, who took advan tage of dullness and lack of outside trade and hammered prices down. | A. Norden & Co. made the condition of the cotton crop at 58.3, while Miss Giles made the condition §8.2. Spinners’ takings for the week verol 207,000 bales. | President Vanderlip, of National City Bank, speaking at a meeting of the American Bankers' Assoclation, urged broad national preparedness. Syndicate underwriting $50,000,000 city 3; Parls five-year 6 per cent bonds paid » ] SATURDAY, SEPTEMBER 30, Atlanta bank clearings, $4,251,25308; last ;’enr. 12,700,601 47. For week, $34,- 721,178.31; last year, $16,070,401.66. For month, $§91,098,202.57; last year, $77,780,- 094,44, Atlanta lrot cotton was left wun changed at 15695 | New York cotton closed ? points high er to b points lower. The market wul steady In the face of weak Liverpool cables. Cold weather sustained va ues. New York Stock Exchange closed ir regular. General list suffered sharp re. Chicago wheat elosed 1o Reptem cago e wer. Mo - I'” dropped 3% oents on liquidation by Eouml of Commeroce morto‘ the ocondition of the cotton emr at 506 & decline of more than 4 points for the onth. Whatkins made the condition "7..1 per oent. Reported that the Assoclated Dry Ooodp-olncorpontod under Virginia laws will take over properties of Assoclated rehants Company and United Dry %. Company, completing reorganisa. ton of chﬂ- business : HEARST’S SUNDAY‘ AMERICAN, ATL.ANTA, GA. SUNDAY, OCTOBER 1, 1916. 1 Week’s Range! The foliowing shows the highest and lowest prices of the active options on the New York, New Orleans and Liver puol Cotton Exchanges iast week, to gether with Saturday’s close and net chang2s from Friday's close; also below net changeg fgr the week: NEW YORK. e ... e e sttt 'Hlzh.LLow.l Sat, | Net I ! | Cioge. |Chgs Qct. . . . .| 116.08] $15.66/15.80-82|— 2 Dec. . . , .| t 18.27 *16.00/16.08-00|— 2 SRR . 116.34 *16.08/16.10-12/— 5 Muareh, , . . YIG.IB, *16.24/16.30-31'— 3 MYy i ;16.65‘ {16.43;16.51-52 + 1 SUY. 4.k 16.75] 18.43/16.59-60| 4 3 NEW ORLEANS. leh.j Low.! Sat. k Net | Close. | Chgs. Oct. . ~ .| $15.63] $16.28/15.44 |— 4 DO, ~ l 115.88] 115.61‘1562-64‘— 5 SOl . 116.02) *15.74/15 76-77/— 8 Maren. ", . 1 118.48) 169816 96-08 — g s .46 -16.19/16.18-20|— July. . . .| t16.59] -16.39]16.34-36|— § . LIVERPOOL. e st g Hngh.{ Low.] Sat. | Net a ! [ Closs. | Chgs. Oct.-Nov. ~ .[¥9.52 [z0.24 1928 I—7 Jan.-Feb. . .|19.55 129.34 19.35%|— 7 March-April |19.58 |29.38 19.39 -7 May-June *, .jf9.6() ;z&_&_o_ws.msgf_'z iMonday; *Wednesday: tThursday; zFriday; -Saturday. Net cjanges for week: MW - Xl =2 4+ 7 Naw- Orleans,. .. %, es oougd; —ll SIETSRPRORLE g L e —20@26 IR el g S TSE Worth $35.22 a Ton Prices paid for cot—t—on seed on the farme the middle of August this year compared with last year are shown in the following table: : Cotton Per Seed, Ton, State— 1916, 1915, SIS G s s 30.00 North Carolina .. .. .. .. ..35.00 27.30 South Carolina .. .. .. .. ..36.00 2180 SR 4 A L ek ..33.60 20.60 TORBBIINS.E oy o e o e ..36.00 21.60 BOEBRIER .Lo s Ne e RROO 21.40 Mississippl .. .. .. .. .. ~38.80 19.30 LOGISIONG .o oy oo o 0 os 4o .. 3660 17.00 AOBEB .. oo oo on su i ou o 3000 1800 Oklahoma.. ~ .. .. ~ ~ ..3350 16.30 ATEKADBRS.. .. o 5 i o 4 ss. 4200 19850 United States.. .. .., .. ..35.22 20.14 . N. Y. National Banks Buying Securities NEW YORK, Sept. 30.—The latest re port of the national banks of this city to the Comptroller of the Currency shows that those institutions have been recent heavy buyers of securities not withstanding the higher money rates. Of the six banks which were the larg est holders of securitles on September 12 the five following disclosed approxi mate increases between that date and June 30, the last previous call of the Comptroller: First National, $20,000,- 000; National City, £10,000,000: (‘hase National, $7,000,000; Bank of Commerce, $6,500,000, and Mechamca and Metals, §500.000. The sixth of the group, the Hanover National, alone showed a de crease In holdings. ‘ Wheat Esti ; eat Listimates 'ls ~ 69.8 Per Cent of .~ OTTAWA, ONTARIO, Sept. 30 —A cablegram received today from the In ternational Institute of Agriculture at Rome, Italy, gives the following estimate of this year's wheat production: The total production of wheat In Spain, England and Walrs, . Ireland, Italy, Ewitzerland, Canada, United States, Indla, Japan and Tunis is esti mated as 1,626,041,000 bushels, or 698 per cent of the production in the same countries last year and $2.6 per cent of their averase production in the five }yearl 1909-1913, ‘Baby’ Bonds Are i “Dbaby bonas Are in I ; Record Demand | NEW YORK, Sept. 30.—Small as well as large investors have entered the bond market in large numbers. The de mand for ‘‘baby’ bonds Is now greater than it has ever been. One house which specializes in these SIOO denomi nations says it is doing the greatest business In “baby’’ bonds in its history. The demand is for all classes of is sue. Onme favorite is the Arfennne Gov ernme%l 58 which are not listed on the Stock Exchange, but which are part of the same issue. These unlisted bonds are selling at 87, or about six points under the price of the listed ones. 200,000,000 Pounds . vopper May NEW YORK, Sept. 30 —The copper trade reports that the Allies have an option on 200,000,000 pounds of copper at a price approximating 27 cents per g:und. If the report be true this is 'tter by about 2 cents a pound than the grlco understood to have been paid by the Allles for last week’'s big con tract. Should this option be exercised its consummation will bring foreign gur— chases of 1917 copper to the neighbor hood of 650,000,000 pounds. Small Railroad NEW YORK, Sept. 30.—The continued absorption of emalil rallroad bonds has c'eaned up the available suprly, Houses report they have a substantial volume of orders on hand for Issues that they can not now obtain in the market, par ticularly Chicago, M'lwaukee and 8t Paul convertible 4%5, and Norfolk and Weatern consolidated 4s, and some mu nicipal issues. HUTTON & CO.'S COTTON LETTER NEW YORK, Sent. 30 —Llvoerol ra bles were docld’«‘!ly lower than due, and our market doubtless would have met their decline nocrr for reports of kill ing fro= in parts of Oklahoma, Texas and Tennesses .lourrl of Commerce makes the condition 59-8, which Indicates a erop of about 13,400,000, Includln‘ linters. This ia considerfably larger than the trade I» ﬂl’uﬂns on, and shoulM the Government oconfirm m-1 I.lgnm on Monday a sharp decline In likely, u'mo ecrowd is looking for about B& f or. To for.e:.t the rr:mrtot Monday ,n qu' ing on the report, #0 we can y " prfou decline on It we t«lnk n“u should be bought freely. ELQIN BUTTER UP 1 CENT, ELGIN lc;n. 30.—~Butter sold on the Board today for $4 cents, an advanes of 1 cent over last week. | LONDON BAR SILVER. ‘ LONDON, Sept. 3. Rar allver ‘I 184, u.uu g | | { 1 ’ Liverpool's Weakness Is Ignored at Start—Evening Up Before Bureau Day Feature, S NEW YORK, Sept. 30.—1 n the face of disappointing cables from Liverpool, cot ton here opened very steady today, with July 6 points higher and the other act- Ive positions were I@6 points lower. Spot houses were buyers, but the larg est demand came from Wall street in terests ‘with commission houses also taking limited amounts. Cold weather over the belt and reports of light frosts in Oklahoma favored the bulls. Room traders were the principal trad €rs, two Important interests selling 10,- 000 bales of January and May. There was conslderable evening up of accounts pending the Government report on Mon day. After the call the demand in crez«l to a large extent, and as the sup ply fnad been practically all taken earlier the market rose 6 to 9 points from the initial levels by the end of the first ten minutes. Later prices sagged 2@6 points from the top leveis. Declines of about 7 points were re corded in Liverpool. At the close the market was 2 points h‘lxher to b points lower than Friday's close. Spot coton was officially quoted un changed at 16.00. e et e New York Cotton Futures. T e T )s it & 3 5.1 A B IRy | £ 185 1y I]a o |E|3 |33 ol &6 Oc [15.82}15.34‘15.8015.82‘15.80-32115482-85 Nv f....d0..]....).....[16.94 [15.94 Dc [16.04'16 15/16.04 16.08 16.08-09,16.10-11 Jn 16.12(16.31/16.10(16.11,16.10-12,16.15-16 Fb 1.....‘...‘.|...A.1.....:e‘u 116 22 Mr [16.3116.38/16.29 16.30‘16.30-81'16.33—34 & fiue i B LU HER e My [16.49/16.58 1649}652‘16516—62‘16.50-51 8O wnvasleces s aiidei oIS 116,58 Jiy [16.63/16.65/16 58/16.60 16.59-60 16.57-60 Closed steady. New Orleans Cotton Futures.l —— dlad.l ok @ :¢ ‘ | £[%]s]s) 1 | | © }:__L.S__LS&H*S m&u_»‘ Oc [15.48/15.48/15.44 15.4415.44 |15.48-50 Nv il foealicerdos. olbbdd-g1{15.55-87 De ]15.63]15.70 15.62/15.63 15.62-64,15.69-70 Jn ,15.81;15.“,15.75 156.77 15.76-77,15.84-85 Fb ... .....|.....|.....|15.86-88/15.94-96 Mr [16.0116.06/15.9615.97 15.96-98 16.05-06 AP l.oooileanailennsd.....|l6.oß-06/15.11-13 My 16.2416.27/16.19/16.20 16.18-20/16.26-27 J 0 [oeoelesenales vesless 00l 16.28-38(16.29-81 Jiy 116.39 16.39/16.39/16.39 16.34-36‘16.42-43‘ Closed steady. ‘ LIVERPOOL COTTON. LIVERPOOL, Sept. 30.—Due %®2% points higher, this market opened quiet . % point lower. At the close the market was easy with prices at a net decline of 7 points. ‘ Spot cotton_dull, at 3 points advance: middling, 9.47 d; sales, 4,000, including 3,000 American bales; imports, 12,000, of which all were American bales; ?eculn tion and export, 500 bales; tenders on new docket, 3,000 bales. Prev. Opening. 3 p.m. Close Futures opened quiet. Sept. 9.37 8.40 257 1 Sept.-Oct. 9.35 2535 938 | lum.-Nov. 9.33 -9.34% 9.28 935 | Nov.-Dee. 9.35% 930 9.37 y | 'Dec.-Jan. 928 9.32% 9.39i4 | Jan.-Feb. 9.41 -9.42% 0.35% 9.421; | Feb.-Mch. 9.43 8.37% P4y I Mch —Q{\rﬂ 9 44%%5-9.46 9.39 9.46 April-May .40 9.40 9.47 May-June 9.47 -5.48 5.41% L 4384 June-July 9.39% $.391 9.46% Ju(ljy-Aux. 9.43 §.37T% 944 y losed easy. | SPOT COTTON. ! ATLANTA, STRONG: GOOD MID. | DLING 15.95, New York, quiet; mlddllnd; 16c. New Orleans, steady; middling 15.50. Liverpool, firm; ml&fhng 9.50. Philadelphia quiet; middling 16.20, Savannah, firm; mlddllni 15.63 Boston, quiet; mlddlln‘f 16.15. Little Rock, quiet; middling 15.63. Charleston, quiet; middiing 1533. Aug\ula. steady; middling 15.63. Mobile. quiet; middling 15 50. Norfolk, quiet; middling 15.69 Wilmington, guiet; middling 15%. Montgomery, quiet; middling 14.88. Galveston, steady; middling 15.65. St. Louis, steady; middling 15.58. Houston, steady; middiing 15.55. Memphis, steady; mlddlln! 15.76 Dallas, steady; middling 15%. INTERIOR MOVEME_NT. VRCARG W) WO T Houston .. .. ..| 19,019 | .12,907 Augusta.. .. .. ) 8,911 } 6,855 Memphis.. .. .. ..| 6,444 8,422 St. &mu.. ¥ e 1,463 | 550 Cineinnat! .. .. ..| 649 | 134 Lt Mok .. .. boooo..oai] 9 “Total .T‘.",T’.‘T—:Lgma.fm_ LIVERPOOL COTTON STATEMENT. ‘ 5 RH MRS Wal 3 Week's sales ..............| 42,00 61,000 AMEricAn ...ivoeesssnnnessi 32,00, ¢5,000 FOr eXport ......ceceresess| 1,000 1,600 For speculation ..........| 2,800 7,500 Forwarded ......cocceeeeees] 63,000 70,000 Total stock ..............]564.000 983,000 American .........v..000..]480,000/743,000 Actual week's exports.....| 1,000 19,000 Receipts for week.........| 35,000 38,000 AMIEPICAN .1v vvvvnensnens] 34,000 20,000 R?CMPI. since Sept. 1...../453,000 215,000 AMOLICAR ..civovvssnsisvesid 4.0 108 | Stock AfIOAL .....eu.e..5..|204,000/216,000 | RIS 2 :5:i06485 s __k M"SI-U-V)] ATLANTA COTTON STATEMENT. | _Snurda_!. |Bales Receipts.. .. ..ov 000 0 40 o 0 o] 3,018 Bhipments.. «¢ oo o ¢v 4o o 0 ] 2,083 BROREE.. 4 25 28 85 co o 8 s o NN L —— COTTON MARKET OPINIONS, Hlﬂ'll‘ wummr & %‘l “On declines the market runs Into buying erders by trade lnterests and :t.l.cn." - Jenks & Gwynnei. “Look fer trade te broaden out considerably after the re rzrt u&o‘aymm not help, but lisve t prevailing Meas regarding the orop must undergo somewhat of a revision, resulting In an Ilorr of of ferings, whioh the market will find 4im. oulty in absorbing.™ ————————— LIVINP?OL SPOT COTTON, LIVERPOOL, Bept. 30 ——mt cotton duil; prices steady. Sales, §, Ameri can middling, falr, 10.22; good middling, $.60, middiing, 8.98: low ""“""il 9.34; mﬂ ordinary, 8.9; ardinary. t fae 4 Aloaad asaw General List Suffers Sharp De clines Early—Market Stead ies in Closing Hour. By CHARLES W. STORM. NEW YORK, Sept. 30.—Many of the leading stocks showed a lack of demand around previously prevailing prices at ilie beg.nning of business on the Stock Exchauge touay and some sharp declines were recorded in the first few minutes. Sieel common declined a point to 119 and Union Pacific 2 points to 149%. Frac tional losses were sustained in Ameri can Smeiting, Reading and Marine pre ferred, as well as in numerous other is sues. There were some strong features, however, Pressed Steel Car opening up 2{1‘.9;0 6’9% and Lackawanna Steei 2% to 90. Before the end of the first fifteen min utes trading the market steadied, with Union Pacine rallying to 150% and Steel common to 119%, whiie slight recessions occurred in Colorado Fuel and Pressed Steel Car. Third Avenue declined 1% to 60. Republic Iron and Steel declined % to 81%, foilowed by an advance to 8254, but was in supply at this level and reacted to 81%. Colorado FKuel, after opening % higher at 63, declined to bil4. American Can rose % to 673%. The general list suffered sharp losses during the first hour. United States Steel fell to 116%. Union Pacitic drop ped to 149%. American Smelling broke to 113%. Colorado Fuel and Iron broke to 60, against 634 at the opening. Part of the losses were recovered during the final hour. ihe stock market closed Irregular. Government bonds unchanged; railway and other bonds strong. The following table shows the highest, lowest and closing bld prices on the New York Stock Exchange Saturday, togeth er with the changes from Friday's ciose: | | |Clos.| Net STOCKS— |High |Low. Bid.,Ch’'ge Allis-Chalmers ..| 27%] 26% | 26%|— % PR R o ill < R American Zinc ..| 43 43 | 41%) ..... Am. Beet Sugar .| s7%| 97 | ¥R — % American Can ..| 67\,.1 Gﬁ%i 65 |— 1% Am. Car Fdy. ...[ 18 |7l (11 I—-— % Am, Cotton Oil 165 | 55 | 54%%|— i Am. Locomotive .. 813 79%| To%|— 1 Amer. Smelting .[115% 113% 118%|— 2§ Am. Steel Fdy. ..| 61%| 61%| 61 |— 13 Am. Sugar Ref..[ll2/4(112 (112 | Amer. T, and T...[1331%/133% |l33%|— 4 Amer. Woolen 148 {4B ST voo Anaconda Copper| 8% |97 197 |—l Atchison ..........[IOB% 106% 106%(+ % Baidwin Locomo. 885 87% 874p|— & B. and O. .........| 89%'88%| 88%/ ..... Beth. Steel .......| ....| ....;560 |— & B B Bi ssiomacns t ssvsl 88 Cal. Petroleum ! 23%, 23%, 34— % Can, Paoific ..iec| sousf .o, (11856 1— z: C. and O, .........| 673 65% 66% | — {Colo. F. and L. ..| 63} 60 | 60%,— 138 {C., M. ang St. P..| 96 |96 |96 |— 1¢ | Chino Copper .....| 67 | 563 | 56%! ! Consolidated Gas caeef ....’139 + % Corn Products ...[ 16 | i 6 [ 16" [— 1§ Crucible Steel ...{ 95| 92 | 93y| ..... Distil. Securities .| 45% 45% 6% ..... Erie ‘ 0% 39% 40 — 3 do, Ist pref .| b4%| 6414 54% 4+ iy Gen. Electric ceeolß2 1817 |lßl% — B General Motor I ‘ cer. 735 | —lO Goodrich Co. ......| T6%| T 4% 6% i— % |G. Northren, pfd.[ll9 (119 [llo%|— g G. Northern Ore .| 46%| 45%| 45%/— & liinois Central ...[lO6 10414 (105% — & Insp. Copper .....| 67%| 66 | 66%/— 74 Interboro ......... .oof 00l IT+ & aO, TP, visiol coidh oen T 8 = K Interna. Harvest | ....[ ....[ll7 |4+ 1 Central Leath.. | 8% 3% T2%l— % Kan. City South.| soesl sose] 0% ..., M, K. and Tex. | ... ...l ¢ - & S 0 PR, .iseoof iaiil cieif 20 B 2 Lackawanna St. |%O |B7 87% + & Lehigh Valley ....| 85| 82% /| 841+ 115 Miami Copper ....| 40 | 89%) 39%| ..... L. and N, ........[l3¢ [134 [183%1— 35 Max. Mot., Ist pf.| ....| ....| BT%(+ ¥ Misouri Pasifie ..| ....] ....] &% 1 Mex. Petroleum ../112% 111% 111% — 114 | |N. Y. Central ....|109% /109 1098 — 14| N. Y, N. H., H...| 0%/ 0%/ 60%|— 35 National Lead ..., 0%/ 70 |7O | ..... N.and W. ........|187% 135 136%— %W North. Pacific_...|ll37% 113% 113 |— 15 N X, OV Wool 00l o 0 6%— 1 | Pennsylvania .....| 58% 57% 68 |4+ 1§ |Po 0; GBS CO ocvef soes] oo 1108012 I P. Steel Car ceeae| 69 |67 | 67 [— 1% Ray Consolidated | 264 | 261 25% |4 14 | Reading .........|113% 112% 112%— & | Rep. I. and 8.....] 83" | 713/ 80i4|— 1% | G 0 B <oiael ‘ ceea|lll%4] veses | Rock Island ......| ....| eens] 18K} 0000 Rumely .........}| ..| ....[ls | | Sloss-Sheftielq .| 68" 64id/ 64 | 11117 So. Pacific ........[102%101% 101%[ ... . | So. Railway ceeeee| 5% 25% 259, — 14 do, pref. .....| 60 | 69 | 68 | ) Studebaker Co, .. 133% /132 350! <oo.o Tenn. Copper ceeee| 4% 23% ) 23% — 1Y Texas Company .j 221 1220 21915 — 119 Third Avenue ....| 60%/ 58%/ 593 '— 2 i Union Pacific ....‘ISI 149%(150 |— 1% | U. 8. Rubber ....] 62% 6115 61%— 3¢ U. B. Steel .......zll?% 116% 1177% |— 2 | SO DEOE Jivvel sues) sas AN oines Utah Copper ......| 96 | 951 95%/— 11 V.-Car. Chemical.| 42% 42 |42 |~ 14 Western Union ..} ....] ....]loo%] ..... West. Electric ..| 8514 64%/ fd4%|— % Willys-Overland .| 47%' 43 46 |— % NEW YORK CURB MARKET. ! Curb market closed steady. ( STOCKS-- Opening. Clnslng. ’ Atlantic Steel . 80 80* 75 5 Chevrolet .....208 @2OB 202 @2OB | Brit.-Am. Tob. 19% @2O 19:2 20 ] Canada Copper. 13 1% 1@ 1%/ Hecla Mines ... 6% bsy bl 58 Inter. Motors... § 7 5 Jumbo Exten. 87 29 37 L Kathodian pfrd.. 15 17 15 17 ] I”Mte%Mnmrl.. 66%. @ 6674 GEND 66% Lake Boat ... 8@ 8% SXQ 9 | Manhat. Tran, s W sagsaninisiil Marcon! ........ 8% 3% %@ 8% Midvale Steel. 76, @ 77 %G 5% BMENE oo ooooeos B 3 ?03 41 43 Nipissing ....... 8% 84 8 $ i Riker-Hegeman. 5%@ 57 5% 5% Submarine Boat 44 Mg 43% 03’2 White Motors . 55%@ 55% B5W@ 6514 World Fi1m..... I%@ 1% I%g 1% Bt. 00, N. ¥..384 g:n 233 @236 ; St. Ofl, N. J... 580 585 680 @582 St 011, 1nd....79%0 gsm 795 ROSS PIAIFIS v.ii. 888 467 465 gun Ohlo Oil .......303 @307 303 308 ‘lndlana P1pe...105 108 106 @lO9 Houston Ol .. 16 17 15 @l7 ‘ Cosden 01l ..... 16% 17 16% 17 Anglo-Am. Ofl, 16, @ 16% 16 g 16% Union Tank..... 89 02 89 302 Savoy 01l ...... 11%@ 12% 11% 12'1 Vitoria Ofl ... 1% @ 183-1¢ 14@ 131 Inter. Pete.... 10%@ 11% 11 @ 11% METAL MARKET, NEW YORK, Bert. 30.—~Metal ®Ex chu\g'o prices: Spelter irm; prime Ry " ovembg and December lu‘ &'»- per -mn& ovember, M @2o\ : De cember, 39 @29%. First qua 4o 38, second quarter, ﬂnﬁm liver. isa for the remainder Iy, QK A ——————— NEW YORK BANK STATEMENT. NEW YORK, Bept “.—Jl%o weekly statement of the New York Associated Banks shows the following ohanges: Average Statement. Loans Increassd SB2 458,000, Demand deposits Increased $31,764,000. mo deposite Increassd &;n.m erve deoreans $24 8445 Actual Statement, Loans Increased s3l 825,000 Net demand deposits increased $7,- 755,000, Time deposits decreased $2,056,000, i ivil W Recalls Civil War . Days in Wall St. { EW YORK, Sept. 30.—Veter ¢ ans of Wall Street were ! reminded this week of the 3 wild markets experienced in Civil g \A‘{‘ar times. One of them remark )y ed: { “You think this is a wild mar ? ket. In the days of the Civil War ¢ it was ru::thinq< for active stocks to ? jump or break 30 or more points (in a day. | have seen New York ) Centrai stock close at 110 and open the next day at 160. In those étimes we had no tickers and no telechones. No tare gave quota { tions every second. The only way { commission houses couid gct word . of what wae going on over the § floor was through messengers, { The bottom could drop out of the ) market while mes=ages were being delivered and the fact not become ; known for minutes at a time, Brokers would send out printed ) forms from the Stock Exchange floor on which they filled out quo ! tations at a given hour. These { would Le distributed around the ¢ Street. Imagine such a s/stem of ¢ publishinﬁ quotations on days like ! we have had this week! NEW YORK, Sept. 30.—With today the end of the month, closing the third quarter of this year for the United {States Steel Corporation, estimates are jalready being made of what the show {ing will be, despite the fact that the | statement will not be prepared and made | public until the last of Oectober., All | these estimates, which are made by in !zeresta who make a close study of the | corporation’s affairs ,establish new high | records. | In the thres months ended June 30 |last the corporation reported net reve inues amounting to $81,126,048, a new | top mark, and an increase of about $20,- | 400,090 over the first quarter of the year, | whiie the balance after the payment »f | the Freferred dividend was $59,401,341, {equal to 11.69 per cent on the outsand | ing common stock, or at the annual rate |of 47% per cent. In the first three | months the balance available for the jcommon stock amounted to $39,207,053, i equivalent to 7.71 per cent on the junior | issue, or at the rate of 30.84 per cent per annum. I As the highest prices in the history of the steel trade were realized on the or ders being filled during the currnt three | months it is certain that the net earn ings will be considerably ahead of those for the second quarter. Estimates now | belng made generall; a*e for an in crease of more than $10,000,000 over the revenues oft he three months ended June |3O lagt. Some Interests who follow close |ly the Steel Corporation’s business are looking for as high as $95,000,000 to $96,- 000,004 in net earnings and the estimates range from these totals downward to | $91,000,000 | Allowing for deductions of the same totals that were charged for depreciation and reserve, interest and premium and preferred dividend in the second quar ter, or appreximately $21,725,000, a bal ance for the common stock of about §69,275,00 would be left on net revenues of $01,000,000, while on earnings of the Ihigher estimate, namely $56,0600,000, a | balance of agrroximuely $74,275,000 I would be available for the junior issue. | Federal Reserve ' Bank Statement | _The condition of the Atlanta Federal | Reserve Bank at the close of business | Friday, as reported yesterday, was as follows: | A dlelo‘uacc:. Gold coiln and certificates— . golq settlement n(»jm .t.t‘..u.m.ooo‘oo Five per cent redemption ! fum‘r sobé s sisssmissniney . SINEEL.IO . Held by the bank ......... 4,453,302.83 ! TOtRl ..ccivcevinnencess §7,734,000.11 | Bils discounted— | Commercial paper ......... 7,083,301.28 | Investments— | Municipal warrants .......$ 28928500 United States bonds ...... 2,034,000 00 1 DORRL oogiocicnsinconeses BB 00500 ' Due from Federal Reserve RR . .ossivnsinne 56.080.19 | All other resources ......... 316,708.78 ‘ s iiipssiengsspsid | TOE . icovnescecicneens T 800.000.08 Liablities, ‘ | Capital patd in .............$2,490,950.00 Government Aeposits ........ 8.857.642.18 Reserve deposits, net ........ 9,883,366.902 Federa! Reserve notes, net HABIHEY ..vccsvrcicinseees 1/000.998.00 PIONE BRE E & ..conchsanna 1.295.569 All other liabilitles .......... 65,060 67 TOAI ,covvicvcicnnneees 117,000,800.98 Federal Reserve notes is- i Bued ... $19,040,700.00 | Federal Reserve notes on i BARM ccccoocsecnioacssees 1,000,005.00 Federal Reserve notes outahnd!:g ceseesssoes . $17,384,085.00 Gold with Federal Reserve Agent ..............0... 16,287,950.00 Net labllity, Federal Reserve nOtes ........ccvvneeee.s.Bl,oß6,oßs.oo Much for Tickerl NEW YORK, Bept. 30.—New York ! Stock Exchange dealings have outgrown | the capacity of the ticker used to record | transactions. The institution has now | under consideration tentative plans for the establishment of a bond sale ticker. ~ Transactions In stosks, the number of | which has increased heavilv, have grown | 80 since the war that dealings in bonds are often crowded off the present ticker | tape for hours. This was particularly | true last Monday when the stock turn- | over was morg than 2 250,000 shares. I l As a bond ticker will require the lay ing of a double set of cabley its instal- | lation will take & long time, mecording to SBtock Exchangs members Trade, Says Iron Age NEW TYORK Sept. M—The Irem Age '45. --‘ real pineh of oar shortage out rcvu shipments at some P!!ulm‘ distriet steol workg in the m'nk | here and thers more has Inr‘moq labor shortage Dellvaries are not Im rroﬂn. nd all Indlcations are that the ension i\n increase rather than relax. "I)om tie buying of finished steel !orl delivery after .eruur;' 1 Is not heavy. “There are signs of fresh export buy ing for every day rather than war pur poses. » “Wires. plates, sheats and tin plntu‘ are wantzd In lareor nuantitise ¢as = i ! ' ' v Option Closes With Net Decline of 2 1-8 Cents—Corn Lower. Oats Irregular. CHICAGO, Sept. 30.—Wheat opened stronger today with prices up % to 1 "cem higher, followed by another advance of 14 to %c, within a few minutes. Ar gentine cables were more bullish, lack of rain was reported from the Northwest, Where the crop was said to be going backward, and Liverpool refused to foi low the decline here yesterday. - Corn was steady with prices 14 higher. Provisions were sold easier. _With the closing of September con tracts these deliveries received the bulk of attention of the trade'during the iast ten minutes of the session. gJ‘he only real excitement occurred in the wheat pit. September wheat was bid up to 1.56%; ten minutes before the close and In the next five minutes there was a break to 1.50% when longs started to unload. The close was at 1.532, or 2%ec lower. The dropL in September cansed some selling of the late months in | wheat, but good support was encoun- | tered at the finish, which was % to %c¢ under the previous close. In corn, September finished un- | changed with the leading long support- | ing shorts at the figure. Late months were % to c lower. BSeptember shorts in oats had some cause for worry and the finish was &c¢ higher. Deferred months were sac lower, | Provisions isplayed much irregu larity. Local cash sales were 40,000 bushels of wheat; 60,0600 bushels corn, and 120,000 bushels of oats. Graln quotations: l Y Previous WHRAT High. Low. Close. Close. ISept..... 1.66 1.50% 153 1541 | Dec..... 1.85 163% 1.54 1543 iu%ﬁﬁ. 1.55 1.63% 1.563% 1.53% Sept..... 90 89% 89% 89% NS, cvie 1B 73;{ 7314 733% May..... T 76% 76 6% T 6% 'SeotA icogd” "we 46y Ry oo oik e e “zz 48 4%?.‘ 483 M. ... B 61 b 1 51% - PORK— Sept.. 28.87% 2860 28.87% 28.45 0ct..... 26621 26.35 £6.65 26.4214 'Dec..... 23.50 22.80 22.95 23.35 Jan.. . 22.95 22.45 22.50 22,97 y . LARD-- Sept.... 14.60 14.40 14.40 14.50 0et..... 1480 14.30 14.30 14.36 Dee.... 13.67& 13.50 13.50 13.70 Jan..... 13.27 13.15 13.15 13.30 RIBS— Sept.... 14.82% 14,45 14.75 14.37% 0ct..... 1390 13.8214 13.85 13.8214 Jan..... 12.37% 12.20 12.22% 12,40 LIVERPOOL GRAIN CABLE. LIVERPOOL, Sept. 30.—Wheat closed unchanged. Corn closed unchanged to 24 higher. s CHICAGO CAR LOTS. CHICAGO, S:&: 30.—Following are re ceipts for Satu ¥ FEROEL 55 ies s sl te s . S SR So Ah W W el i D SO oeß ke e e N U € v e av 0 b e ol e DS MR NS MR vWi CHICAGO CASH QUOTATIONS., CHICAGO, Sept. 30.—Wheat: No. 3 red, 1..N%i1.“; No. 2 hard winter, 1.67%; No. 3 hard winter, 1.57@1.86. | . Corn: No. 2 mixed, 89%: No. 2 white %@9%Y%; No. 2 yelow, 90!.,'“ No. 3 mixed, 17617 - No. 3 white, 4%?!8: No. 3 vellow, Iqu; No. 4 mixed, 31 g“; No. 4 white, 84@8434; No. 4 yellow, %. Oats: No. 3 white, 47%; No. 3, %G 47, standard, 47%. LIVE STOCK MARKET. CHICAGO, Sept. 30. —Hogs—Receipts 14,000. Market 10c to 150 lower. Mixed ang butchers., 9.35@ 10 50; zood heavy, 9.70@10.45; rough heavy, 9.2 @9.70; ll‘ht,] 140610.45] pigs, 1.00G4.00; buik, 0.75 el Cattle—Receipts 600. Market steady. | Beeves, 5.75@11.10; cows and heifers, 3.75 @9.50;, stockers and feeders, 5.25?7.40: Texans, 6.75@8.60, calves 11.00@12.50. Sheep—Receipts 600. S!arket steady. ?\"nsuv?o ;snd Western, 4.0098.50; lamba, S’! LOUTS, l?t. 80.—Cattle: Re ceipts 900, including 200 Southerns; market steady; native beef steers, 7.00 11.00; yearling steers and heifers, 3.508, 10.65; cows, 6.50@7.50; stockers and | feeders, 5.30@7.50; calves, 690@11.75:] Texas steers, 5.50@8.00; prime Southern ! Steers, 8.00@9.00; commons and heifers, | ‘.soghso; prime yearlings and heifers, | 7.60@9.00. [ Hogs: R»celgt-, 2,600; market 10c | higher; m.xed, 9.90@ 10.59; good, 10807 | 10.60; rough, 9.25@9.50; lights, 1010 l 1050; pigs, 3.00@9.40; bulk, 9.50@10.50. | Sheep: Recelpts, 1,350; market gtend{; nuugf;ta; qerxel. 5.00@7.25; reed ewes, 8, 9.50; yearlings, 8.00 os.oo;nﬂmb-. 7.006?0.00. - KANSAS CITY CASH GRAIN. KANBAS (;ITY, 8?!. 30.—Cash. Wheat: No hard, 1.54@158; No. 3, 1.53@1.68; No. 4 red, 1.54?1.30. Corn: No. 8, 85; No. 3, 82%; No. 2 vellow, 85; No. 2 white, 85. Oats: No. 2, 45@46; No, 3 white, ¢7. -y a.i' L : A 2k AN ANT T T [ S 2 VT T 3N 2 ..a'_:"}‘“ Good for Improvement Is there ground for improvement in your banking connection? If so, become acquainted with the factors of safety, the disposition to serve and the facilities which the American National Bank places at your disposal. ATLANTA, GA. ' e Fifty Million Dollars Is Oversub . . . . scribed Ten Times Within Twelve Hours. NEW YORK, Sept. 30.—The syndicate which will underwrite the new $50,000,~ M 0 loan to the City of Paris, Francenz has more than ten times overserib Ithe loan, according to authoritative sources. The laan, negotiated by Kuhn, Loeb & Co., for reiief work and to re imiburse the city for heavy axpenuugﬁ connection with the war, was offer to the underwriters at 97, Bankers declared the loan is one 011 the most popular ever floated In Wa Street, as a large part of the proceeds will be used to ald war sufferers. The loan will be offered to the public ear! next week and is expected to be lol§ in record time. .\‘othin&l definite coul be learned regarding e price the public muts pay, The oversubscription by the syndi cate is said to be a record. The sub scriptions totaled more than the amount of the Anglo-French loan. It was reported the syndicate would underwrite only about $30,000,000 of the loan at present, but this could not be confirmed. According to this story, the bankers who participate in the present underwriting will receive an %lon to subscribe to the additional $20,000,000 in the same proportion as their subserip~ tion to the $39,000,000. The financial district expects the pres ent loan will be foliowed by similar loans from other foreign citles, especially in England. 'Morgan Sails to Fix 1% ew British Loan NEW YORK, Sept. 30.—Among the passengers aboard the American lin |er New York, which salled today for Liverpool was J. P. Morgan, who is reported to be going abroad to ar range a new Britlsh loan eof $£250,000,000 i NEW YORK COFFEE MARKET, Coffes quotations: | ning. ! os JANUArY: ~ . FLI .81 TeDPuRLY oy + o} iossiive: 'l R March . , ~ . .| 8.85@8.90 | 8.87@8.89 BPEE . s e ] et B t” May . o o « o .| 8.94@8.97 | 8.95@8.9¢ Ijulnc boAas 'M’ﬂ :o’; gz Y oL N X ) X | August * % S 1 T | Setdsee October . v, o of cocisnvs | SENRED November . . .| ....c.isxl RIS December , . .| 8.75@8.85 | 8.78@5. Closed steady; sales 10,250 bags. COTTON SEED 011. ; MLME!_‘!P_"_'L____, ; | Opening. | Clos! January . , . .;1024@10.26{10.23 10.? (February . . . +:0.33@10.37/10.35 @ 19. MMATEN & i se ."10 43’(;10.4401043 ‘lO-& AL Lok 10.50310.53110.5 x 10. May . .0 00 (10.58@10.62/10 58@10.60 November' . *." 11032010.33/10.51@1 November , . ,/10.22 ; A Il‘i"?."‘.b"f;_'_;".@iog 170.2/10.22 l&a Closed steady; sales 10,100 barrels. NEW YORK SUGAR MARKET, Sugar auotations: | Opening. ng. January ~ . [ ¢.16@4. 23G4.95 TNy « . o o 400@401 | 4.05Q4.08 March . o . . . . 3.95@4.04 | 4.0404.08 A .S, Ret 418 DAY « .5 & & &) oo BEEE SUBN . 4.8 4. ‘ 4.14@4.18 July . ~ .. . L1504t | £17@4.19 AUBuUst « 5 o o of cocerenis | GIDDEEE October . . , . .| 4.838@50 | 4.95@5.00 November ~, .| 472@4.7¢ | & 4.8 D.“e."!b':"._;.;__-a.!ﬁigi‘” 4.59@4. Closed steady; sales 2,850 bags. CHICAGO PRODUCE MARKEYT. CHICAGO, Se;z-;;.:Butthleodw 9,737 tubs. Creamery, extra uga $ extra firsts, 33@33’3‘; firsta, 31% % packing stock, 26@27 Eggs—Receipts 6,356 cases. Ordinary firsts, 28@29; firsts, 29%080:&: n& ;g‘q@%h; checks, 17@22; dirties, CEees&-Twln-, new, 19%; aum-bn; gzinx::‘z:\mertca. 20'%; longhorns, % rick, . Live Poultry—Turkeys, 20@25; °.hl3- ens, I]l:«‘ﬂ@l'lT sgr!r;(gs,léglioo.tou. $ eese, 17; ducks, . ‘Potatoes—-ﬁecoifu 45 cars. Minne sota and Ohlos, 1.10@1.15. S rdneseceegitiil S§T. LOUIS CASH GRAIN, ST, LOUIS, Sept. 30.—Cash v&w No‘ 2 red, 1.60@1.60; No. 3 hard, 1. 1.6¢ Corn: No. 2, 86%: No. 2 yellow, STH O 88; No. 2 No. 2 white, 87, Oats: No 2, 46%; No. 3 white, %0 47%; standard, 8. 3A