Newspaper Page Text
10C
THE SUNDAY AMERICAN'S FINANCIAL AND REALESTATE PAGE
Figures Show 166 Per Cent In
crease for June Over Same
Month Year Ago — Suburban
Residential District Grows.
By 8. TWYMAN MATTINGLY.
For the month of June, Atlanta was
s&iven national credit for making one
ot the most notable increases in build
ing activities throughout the country
for an increase over the month ol
June a year ago. The percentage of
inerease, according to figures com
glled in the “American Contractor,”
was 166, which far exceeds that of
many large cities, and completely ov
s .ershadows the gain of every city of
f population In proportion to At
lanta's, |
* During the month of June, 1916,
{ WAtlanta erected 224 buildings at an
estimated cost of $252,776. For June
fhis year it is shown that 261 build
. Angs were contracted for at an esti
hnauad cost of $673.,6067, thus making
she increase of 166 per cent.
These figures confirm the prediction
of Atlanta builders, who some time
, Bgo said th®* within (his year At-
Janta would witness a growth nearly
&qual to that of 1912, when several
of the large office bulldings were
erected, thus changing the appearance
of the down-town section. -
Residential Section Expands.
The growth predicted for this year
§s unlike that of 1912 in that it is not
s+ ®he down-town district that is ex
ed to grow to such a noticeabla
nt, but it is the resklential sec
tions.
The entire year of 1916 witnessed
, @an expenditure in building of only 2,-
464 permits, at an estimated cost of
$3,685,663. The first six months in|
this year accounts for an estimated
ost of new buildings but a little less |
han those of the entire year of 19186,
far this year the cost of new build
: is estimated at s2,o6Tag3.
i ring July, 1916, the building in
®pector issued only 188 permits at a
ost of $200,717. So far this month
fOB permits have been fssued at a
cost of $234,436, which is $38,719 more
than the entire month netted last
wear.
~ Proof that more actual new building
k.\':eing done this year than was done
- year, is found in the fact that
during the first six months of 1916,
" 828 permits were issued for altera
_tions and repairs at an estimated cost
‘of $414,262. That number is 144 per
mits more than have been issued so
Jgar this year, while the cost this year
ds comparatively $30,678 less in the
estimated authorized cost of the al
terations and repalrs,
. This decrease, according to con-
Aractors and builders, cannot but
, rnn that people are not in the mar
et to repair their old houses but to
build new homes and places of busi
hess.
In predicting that the boom in the
®uilding would be seen most clearly
in the residential sections, builders
- find confirmation for their prediction
~§n that during the first six months of
‘ this year a gain of fifty new brick
buildings is recorded over the first
gix months of 1916. The month of
- June alone saw fifty-five brick build
‘: ‘:n erected, while there were only
3 irty-six for June last year, a galn
. Pt nineteqn.
i’ Busirgess District Will Grow.
While biylders and real estate men
. mssert that the major portion of the
uilding wllf\be done In the residen
sections, ey maintain that with
i residential sections expanding it
- 38 to be expected that the business
. district will follow on the heels of
t;.r‘:e expansion by growing farther
; to the old residential sections.
Another significant fact that makes
. for the expansion is the opening of
- pew subdivisions and the developing
. pf those subdivisions that have been
?“gpon for some time. It is becoming
. gfllculurly noticeable, say real estate
en, that those land owners who have
gubdivisions under process of develop
‘.‘r.:om. are now exerting every effort
?’ rush their development into com
fon within the coming few months,
'y reason that numerous clients are
% in the market for surburban
; es.
' The fact that real estate men are
{i’{:eoivln‘ numbers of calls for homes
_ln the subburbs over those close in, is
evidence, say those interested in the
. pubject, that residential sections are
}‘fl.fly moving outward in all direc
~ tions.
k‘s‘ R ———————————
y .
- Peachtree Circle
n. Apartments Sold
5 The most significant sale of the
! 3: week in the Atlanta real estate
. d was that of the Peachtree Circle
i} ent house which was sold by
51 M. C. Kiser Real YEstate Agency
i T. P. Moody, of Macon, to M. W,
%4 of Hampton, for a Q‘(\Y\fi'dq‘rfl.'
* of $§60,000. Mr. Harris will con.
. %inue the use of the building as an
mpartment house, :
It is of brick veneer, three storles in
;,,wt. consisting of twelve apart
“d ts, all of which are modern in
. every detail.
| As part payment Mr. Harris gave
o 600-acre farm in Henry County,
:duod at $30,000,
¥ This apartment houge has only heen
erected for two vears, being huilt by
*f. F. Eskew, who sold it shortly after
" Its erection to T. P. Moody, of Ma.-
. eon.
~ The fact that this hapdsome huild
ing has three times changed hands
_:fihfln such a short space of time in.
© @lcates its market value as a high.
. grade building and splendid location.
$ U. 8. EXPRESS DIVIDEND,
~ Distribution of an addltlonnwymmt
.pfß2 a share has been ordered by the
ted Btates Express Comgany a 8 an
3 step in the process o Hciuidl.u--n
" assets. This brings total &,)‘o\
e to stockholders to about $5,000,.-
s mt: fi:r]cont of '}'!l\'e assets htawr
uidated. e ment ©
LR RTR
Juniper Terrace Apartments Now Near Completion
New Structure Will Beautify Residential Section
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This shows the architect’s perspective of the Juniper Terrace Apartments, which are nearing completion at Third and Juni
per streets. This structure will enhance the appearance of one of the city’s prettiest residential sections,
Atlanta and Vicinity Are Well
Supplied With Working Men,
Declares Prominent Builder.
Atlanta anl the surrounding South
ern States, according to Charles W,
Bernhardt, prominent Atlanta build
er, who recently returned from Cin
cinnati, where he attended the con
vention of the National Builders’ Ex
change, at which was discussed the
country's economic problems pertain
ing to bullding, are now enjoying
what is undeniably the best of pros
perity in building, as compared to the
Central and Western States.
This is so, asserts Mr. Bernhardt,
because our labor conditions, as bad
as they apparently are, are better
than those enjoyed by most other
States. They are not only better now,
but it is likely that within the coming
months they will improve, he says: |
The building of the cantonment here
is tending to draw a vast amount of
labor into the c¢ity that would not
otherwise be here, and it is also tend
ing te keep in the city what labor we
have other than the negro element.
The burnt district is also tending
to draw laborers frcm over the coun
try, as they apparently reallze that
Atlanta now affords many months of
work for them.
The Middle West is the big sufferer
at the present time, Mr. Bernhardt
continued, for reason that hundreds of
‘tho foreign laborers who did the big
‘pn.rt of the work there have returned
to the old country to take up arms
in defense in lhoi;' native land. To
supplant these vacancies the negro
from the South is being imported, but
as has been seen by the recent riots,
the negro is not accomplishing what
his employer thought he would.
Here in Atlanta the contractors for
the most part aro doing a small busi
ness, while some of them are doing
a busines that is very nearly normal,
while in cities like Cincinnati, Indian
apolis and Louisville the contractors
are now inclined to pack up for a
summer's “fishing trip.” Those cm}-
tractors have not the labor Atlanfa
builders have, and they know they are
not very likely to get a sufficient
amount to do a great amount of work
for some time in the future,
The negro will return to the South,
and it will not be very long before
we will have the use of his labor as
before. The treatment they receive
in the North and Middle West is not
agrecing with them, and the little dif
ference in pay is not justifying the
change.
Another thing, sald Mr. Bernhardt,
that is entirely beneficial to Atlanta
{s that after the work is completed
at the cantonment the labor that has
been used by the Government will be
most likely to accept work here in the
city rather than go elsewhere to look
for it. They will do this for reason
that they will have become used to
the city, and with their families al
ready here, will desire to remain,
This, however, pertain only to At
lanta, Mr. Bernhardt said in conclud
ing, but it was strongly intimated at
the convention in Cincinnati that the
opinion is generally eirculating that
after the war there will be a great
change in the scale of wage paid to
laborers, due to the great amount of
American labor to be had, as well as
the vast inflow that will come here
from foreign countries.
COTTON MARKET OPINIONS,
E. F. Hutton & Co.: ‘“Although at
the moment the situation would seem
to warrant a further setback, we do not
look for low-priced cotton and are in
clined to favor purchases on good re
actions,.”
. - -
A, Norden & Co.: ‘‘There continues
to be a good demand for cotton on de
clines, and those who attempt specula
tive short smles find, as they have for
months, that the market {s bare of
floating contracts, and that the cotton is
not there when they attempt to cover.”
MONEY AND EXCHANGE.
NEW YORK, July 21.—Money on call
this week ranged between 10 and 3 per
cent Time money during the week
continued in very fair demand. Rates
on mixed collateral were quoted 4'? to
5 per cent. Rates on industrial collat
eral were i to 3% per cent higher.
Mercantile paper during the week was
rather dull. Rates 4% to 6 per cent
for the best names.
HEARST'S SUNDAY AMERICAN __ A Newgpaper for People Who Think — SUNDAY, JULY 22, 1917.
What will be one of the most beau
tifully designed apartment houses in
Atlanta is now nearing completion
at Third and Juniper sterets at a
cost of $86,000, with the title of “The
Juniper Terrace.” It is being built
by Dr. W. E. Lambright. M. G. Nor
ris is the acting builder, while S, H,
Benedict is architect. It will be ready
for occupancy September 15.
With its main entrance facing Juni
per street the building will have 21
apartments, The exterior will be of
cream impervious brick, with a green
Sranish-tile roof. The woodwork on
the interfor will be finished in white
enamel,
Three apartments with six rooms
and a sleeping porch, and three with
six rooms without sleeping porches
will face Juniper street, Facing
Third street will be six apartments
with flve rooms and sleeping porch;
four with one room and bath; three
with twe rooms and bath, and one
with four rooms and bath., The base
Work Is Progressing
Rapidly in Fire Z
Ensuing Week Promises Much Activ
ity in Rebuilding Line, Accord
ing to Builders.
During the last week In the fire
district several new bulldings were
started on their way to completion,
and according to builders there is a
vast amount of work now under way,
lwhlch. while yet in a tentative form,
will be materialized within the com
ing week.
- Many of those whose homes were
destroyed have signified their inten
tlon of rebuilding and have already
held conference with architects and
builders, On the other hand therai
are a few who are going to bll“fl‘
elsewhere, and have put their lots in
that district on the “for sale” list,
| According to A. B. Buehl, builder,
there is a greater number of plans
now under way for new homes to be
erected by those of the fire district
than is thought to be by the public,
and within a short time those who
are going to move from that section
will begin the erection of handsome
homes.
A handsome home that is being
erected in the fire-swept district at
the present time is that which L. C.
Green, real estate dealer, is building.
It will be a two-story, frame house,
located at No. 173 Highland avenue, at
a cost of SIO,OOO,
Mr. Green is one of those who is
now setting the example of rebuild
ing on the very spot upon which for
merly stood the home of the owner,
as it was this same site upon which
his former home stood before the fire
Another home that is now being
erected in that section by one whnsnl
former home was destroved, is A. M.
Lloyd, who is contemplating begin
ning work during this week upon a,
two-story, brick veneer house at (ha-l
southeast corner of Ponce Deleon
avenue and Jackson, at an estimated
cost of $5,000.
Announcement was also made Sat
urday that C. G. Aycock, real estatle
dealer, is now building a handsome
brick bungalow at No. 28 Boulevard,
at a cost of $3,500,
The city bullding inspector issued a
permit to the Harrington Investment
Company to erect two one-story
frame houses on Chickamauga street,
each at a cost of $2,500,
T. H. Nelson took a permit to build
a one-story frame house at No. 44
Old Wheat street at a cost of SSOO.
W. H. 8. Hamilton will start work
this week upon the erection of a two.
story brick veneer house to be lo
cated on Kings Highway, in Deca
tur, at afi” estimated cost of $6,000.
He is also now remodeling the home
of Mrs, J. P. Arnold, on the Wallace
Mills road, at a cost of approximate
ly $2,000.
Baldwin Books Big
Order for Engines
NEW YORK. July 21.-—Orders of 250
engines for Russian Government are
reported to have been placed with the
Baldwin Locomotive Works, The order
i reported to be a part of the inquiry
amounting to 2,000 engines and 75.000
ecars that the Government will place
within the near future.
ment will be equipped with a storage
room for each apartment,
Some of the significant features
about the new building are that 1t
will have a separate boiler room out
slde of the building at large, thus
tending to keep the temperature
within from becoming excessive due
to the usual boiler heat. The build
ing will be divided into three divi
#icns by fire walls, making it semi
fireproof.
Kach of the floors will be separated
with noise-proof material and water
proof ceilings. The bedrooms will
be equipped with the Murphy disap
pearing beds. The kitchens will have
already furnished to the tenant, a
gas range, enameled kitchen ecabinet,
electric fan, ironing board and re
frigerator.
On the main floor will be installed
a dining room for use of the occu
pants of the apartments, It will have
a very high ceiling and a red tile
floor which tend to make it exceed
ingly attractive. W. 1. & Jahn Du-
Pree are the acting agents.
.
Last Week Was Lively
One in Realty Circles
Sales of Combined Agencies Aggre
gated More Than $200,000, With
Many Substantial Deals.
The last week was one of the most
successful for some time in way of
the number of sales completed by
real estate agents, the total consider
ations aggregating more than $200,000
and this including only those sales
of houses and lots upon which imme
diate building is to be done.
The majority of the sales ranged
from $6,000 to SIO,OOO, a few, how
ever, reaching the $15,000 mark, and
one or two the $20,000 class.
Among the sales announced Satur
day the most prominant was that
made by the Martin-Ozburn Realty
Company of a nine-room, two-story
brick veneer house at No. 526 Ponce
Del.eon and Bonaventure avenues, to
a client for a consideration of $11,500.
~ The next hig sale was completed
by A. J. & H. F| West, who sold a“
tract of four acres of land, fronting
400 feet on the west side of Williams
street, just south of Fourteenth
street, to H. M. White, of Peters
burg, Va,, for a consideration of $lO,-
000,
Mr. White represents a very large
real estate company, and expects, at
an early date, to subdivide and im
prove this property.
The same agency also filed a war
ranty deed for a lot on Marietta
street to George A. Clayton, promi
nent contractor, for a consideration of
$6,300. This property is near the
Junction of Marietta street and Bell
wood avenue, and is 63 by 200 feet.
Mr. Clayton bought this property for
business improvements,
Evans & Dodd announced the sale
of a six-room bungalow at No. 44
Westwood avenue, for Mrs, J. L. Nis
bet to 1.. E. Williams, for a consider
ation of $5,2560 cash. The lot is 70 byl
220 feet.
. G. Aycock, real estate dealer,
sold for a client to Mrs. Epple 1.
Jones a ten-room house at No. 36
North Mayson avenue for a consider
ation of $5,000 cash.
Also sold for a client to R, E,
Moseley, a six-room cottage at No.
117 Kirkwood avenue, for a consider
ation of $3,000 cash.
The Martin-Ozborn Company an
nounced that they leased for the In
man estate the building at No. 87 and
89 South Forsyth street, for flve years,
to the Atlanta Electric Company,
The same agency sold for R. L.
Walker to a client a lot, 35 by 200
feet, at the southwest corner of Ponce
Del.eon and Randolph road. The
consideration was not stated.
NEW YORK COFFEE MARKET.
Coffee quotations:
| Opening. | g"!l!!__
URBUREY o v ke desinewess 1 BTGP
February ' '\ & .} iiiineeis | 8120814
MErch . . o 05+ 888 8.17@8.18
AW & o oauainp dlisinaiereic] SIRDEIR
May . . . « o | 8388 8.27@8.28
TURE L% oinia (] seinmianaas] 3330888
JUIY S a 1 1.50007.08
AVRust .. o o “ T.87T@7.88
September , . .| 8.00 T.9@7.95
OO .« 2 s lissrmsared BTNDTLE
November , , . .| 8.19 T.99@8.00
December ~ o .} 810 '8.03@8.08
CHICAGO CAR LOTS.
CHICAGO, J\;sr 21.—Following are re
ceipts for Saturday:
WRARE .\« 4 Liin e i amiaa 18
OOy ol el ah ke ot e N 85
CMIEE s« ed Al AT b e e ag
SRORE. 50 he. ob nb a 0 aihs s sonll
Local Realty Firm Closes Impor
tant Deal for Out-of-Town
Business Interests,
What is undoubtedly the largest
sale that has been handled by an At
lanta real estate agency for many
months was completed during the last
few days by the M. C. Kiser Real Es
tate Company, the sale being of the
large Highland City and Chinnabee
Cotton Mills, located in Talladega,
Ala., for J. H. Hicks, president of the
mills, to Lanier & Freeman Broth
ers of West Point. The mills pass in
to teh hands of the new owners
’ August 1.
- While the consideration was not
given it is known that by the very
‘nature of the transaction that it cer=
tainly runs up into hundreds of thou
sands of dollars.
Lanier & Freeman Brothers are
among the largest mill owners in the
entire South, being owners of several
mills in West Point and also several
in Lanett,
The newly-purchased mills are used
exclusively for the manufacture of
hosiery yarns, having one of the
largest outputs in the South. It has
over twelve thousand spindles,
By the purchase of these mills the
owners are apparently working thelr
way into possession of a chain of mills
that will exceed any south of the Ma
son and Dixon Line. The methods of
manufacturing yarns used by the new
owners are the newest, as they equip
their mills with the best mill machin
ery on the market, it is stated.
For several days it was intimated
in real estate circles that an Atlanta
agency handled the sale of the mills,
the news of which was first published !
in Talladega two days ago, and upon
investigation it was found that the
intimation was true. It was learned
Saturday that the Kiser agency had
sent its best salesman to Talladega to
make final negotiations. This bears
out the fact, according to real estate
men, that Atlanta is the real estate
center of the South.
lNegroes Are to Have
Big Apartment House
In way of raising the standard of
negro dwellings in Atlanta, Sam A.
Ozburn, of the real estate firm of
Martin-Ozburn, stated Saturday that
he will begin at once the erection of
an apartment house at the south
west corner of Irwin and Hilliard
\strm‘ts at an estimated cost of SIB,OOO.
It is to be built of brick veneer and
will contain twelve apartments, each
to have every modern convenience.
Eight of the apartments will face
[erln street, while four will face Hil
liard. The inner finishings will be in
pine. The kitchéns will be furnished
lwlth a gas range and other kitchen
conveniences. Ludwick Hill is the act
;lng architect,
~ Many applications have already
‘bheen made by negroes of the city for
space in the apartments.
~ Mr. Ozburn declared that it is no
‘more than right that somebody should
undertake to raise the standard of
the negro dwelling, as the lack of such
homes makes the negro the worse,
while if the better class of houses
would be erected for them they would
immediately take advantage of the
higher mode of living. |
o oo ,
GEORGIA PEACH MARKET,
The Georgia Fruit Exchange's tele
z:aphlc market quotations on peaches
Saturday follow:
Roston-—Georgia Belle, high, 2.75: low,
2.60. Fibertas, high, 3.25; low, 2.75.
Providence—Georgia Belle, high, 3.00:
lst\:g. 2.75. Elbertas, high, 3.00; low,
e 40,
,{g"‘" York—FElbertas, high, 3.50; low,
Philadelphia—Georgia Belle, high,
2.26; low, 2.00. Elbertas, high, 2.25.
zo(;lnclnnnl—mbenaa. high, 2.25; low,
Number of cars out of State, 81-17,
F. o. b, prices, $2.00@2.25.
~ LONDON BAR SILVER.
LONDON. July 21.— v
%d at 89 13-16 d, T ian
y ' '
Bradstreet's Report Highly Opti
mistic on Business Here.
Collections Good.
Bradstreet's weekly summary of busi
ness conditions here is highly optimistie,
It follows:
Wholesale trade good. Retail good.
Manufacturing active. Collections
good. Weather favorable, Whole
sale jobbers, dry goods and notions
note gains of from 35 to 50 per cent
over last year's bhusiness. Nfllls sold
up and tendency toward higher
prices. Department stores report
gain in volume of business over
same period of last year. Grocery
jobbers say semiannual balance
sheets indicate very satisfactory
gains for first half of year. Manu
facturers in nearly all lines are busy
and working full time, orders for
Government needs aiding mate
rially.
Construction work on cantonment
to house troops is progressing rap
idly. Plumbers, carpenters and la
bor as a whole are well employed.
Collections are good. Generous rains
have fallen in the northern and
northeastern section of State, which
has materially aided gmwinq crops.
In the South and Southeast Fenty of
rain has fallen and general improve
ment in crops except that a ten
dency toward shedding is reported in
cotton, and in a few places, crops
are becoming grassy. Cotton plants
are still very small in northern, but
in southern section, where sufficient
rain has fallen, it is fruiting well.
Old corn is earing well and is prac
tically made. Rice, peanuts, sweet
potatoes, sugar cane, beans, etec,,
seem to be doing well.
The shipments of watermelons and
cantaloupes is decreasing from the
extreme southern portion of the
State, but increasing from central
districts, and the yleld is good.
Peach sfilpmontn are decreasing. \
Federal Attitude
The Iron Age, in its weekly review of
the iron and steel trade, says:
Annnouncement of the result of
the conference at Washington last
week between Government heads and
the committee of gteel manufactur
ers gave an abrupt check to business
in iron and steel on any large scale.
Steel producers have expected to
accept special prices from the Gov
ernment and to have its require
ments take up an increasing share of
their output; but Chairman Gary in
hig address to the Iron and Steel In
stitute late in May said they also
expected that, as costs of production
were advancing, the Government
would be willing to increase its pur
chasing prices accordingly.
The conference at Washlnfiton not: °
only Yolnted in the other direction,
but also foreshadowed an effort by
the Government to get like low
prices for its allies.
The effect on buyers was just
what was to be expected. Through
out consuming industries the ones
policy 1s the postponement of buying
until the Federal Trade Commission
cost-finding inquiry is finished.
There has been a tendency to
weakening in the past week in pig
iron, scrap and coke.
’Corn Supplies
At Lowest Point
. WASHINGTON, July 21-—Supplies of
corn in the Central West have reached
the lowest peoint ever known, according
to a statement of the condition for June
1, 1917, just obtained from official
sources.
The five corn-producing States of
Towa, Illinois, Ohio, Indiana and Ne
braska had on hand at that date but
357,000,000 bushels, as compared with an
average of 467,00000 bushels for the
nine preceding years, a decrease of 24
per cent. This is the smallest reserve
by 15,000,000 bushels during nine years,
the smallest cro&) being in 1914, when it
fell to 272,000,000 bushels.
Towa's corn reserve for 1917 has de
creased 15 per cent from the nine-year
average. Illinois’ reserve shows a de
crease of 37 per cent and is the small
est reserve in the entire ten years by
11,000,000 bushels.
Ohio’s reserve is a decrease of 4§
per cent from the nine-year average,
and is 29 per cent less than the pre
vious low record for that period.
Indiana's reserve is a decrease of 23
per cent from the nine-year average,
and only in one year, 1909, was the re
serve less, and then only by 1,000,000
bushels.
Nebraska alone shows an Increase,
and that of only 4 per cent.
251,432,229 Lbs.
The New York bureau of copper sta
tistics, commenting on the copper sit
uation, says:
“Detailed statistics on copper produc
tlon and consumption by this country,
Canada, Mexico and South America for
the first six months of this year shows
actual overproduction of 251,432,229
pounds.
“Production of refineries and smelters
of primary metal amounts to more than
1,296,337,000 pounds, which, allowlnf for
the larger production period—invar ably
the last six months of each year—
would show total yearly output of 2,-
700,000,000 pounds, as compared with
9,259,387.315 pounds last year, and 1,-
568,104,478 pounds in 1912—a normal
year,
“Jstimated overproduction at the end
of this vear will probably amount to
240,432,000 Pounds. This is primary
metal, and in 1916 secondary metal rep
resented an increase in available cop
per of 663,000,000 pounds or 2,992,000,000
pounds."” |
. |
Decrtase in June
June production figures have Just
been announced for copper properties in
Mexico, Canada and the Lake reglon.
Greene-Cananea produced only 3,210,-
o 0 pounds In_June, the lowest for any
month since December last, and com
paring with 4,370,000 in May. Mexi
can troubles have closed the mines
ajnce June 22 last.
‘At Anyox, Granby Consolidated Min
ing. Smelt’ng and Power Comgan_v
produced 3,030,929 pounds in June
against 3,159,284 in Way. The Grand
Forks property in still shut down.
Calumet Hecla xroductkm in June
was 6.346,448 pounds, a decrease of over
500,000 pounds from May. With sub
‘sidiaries the June total was 13,347,525
pounds compared with 14,450,011 in May.
'or the first half year output totals 84,-
860,00 pounds.
Salisbaiien bt |
ELGIN BUTTER.
BELGIN, TLL., July 21.—Butter was
offered «t 38¢ on the Elgin market to
day. There were no sales. Last weeks'
price was 37%¢.
Beef and Wheat
America's burden of feeding the world
ls emphasized by a food administration
report that during April wheat exports
increased from 11,392,788 bushels, as a
month’'s average for the preceding nine
months, to 14,233,013 bushels. Even the
smaller nine-months’' figure represents
a 52 per cent increase compared with
the three-year pre-war period, 1012-14,
Beef exports, which had shown a com
parative galn of 330 per cent in the nine
month average over the pre-war period
increased from 22,295,972 pounds to 48,-
211,592 pounds,
Sugar, which had shown a 1,00 per
cent increase in the nine months’ pe
riod, decreased in April from the aver
age of 103,486,176 pounds to 92,283,738
pounds.
A notable decrease was in fish ex
ports. The average of 15,122,474 pounds
exported in the nine months’ period
dropped to 7,544,877 pounds for April.
NEW YORK, July 21.—The cotton
yarn market is voild of any new develog
‘ments at this time, Buyers who have
Government war contracts are in the
market from week to week and they are
taking supplies of both hosiery and un
derwear yarns to be used in their war
orders but outside of this there does not
seem to be much doing. To be sure
there is some small scattered demand
for varns from sources other than war
order sources but it is reported that the
total of this sort of business fs small
and scattered. tI would seem that mills
that are not working on war orders
are keeping out of the present market.
But despite the smaner interest in
cotton yarns at this time it is reported
that the market is ruling firm in all
qparters and the fienera'l outlook is for
advances rather than declines. Funda
mentally the market is strong and the
present small interest that some buyers
are showing is taken to be but tem
porary. The prices are firm and strong
and under present conditions it can not
be seen how anything but higher prices
can rule.
The continued peace talk that is being
heard is not giving the trade any con
cern as they feel that war or peace
there will continue a firm tone in the
cotton yarn market. Should peace be
declared they are of the opinion that
there will be a brisk demand for cotton,
cotton yarns and cotton in general
which will tend to send the price of
yarns even higher than they are at
present. Surely they claim they would
not or could not go lower. On the other
hand If the war continues it is felt that
the continued demands for war supplies
will hold the market where it is at this
time and will in addition send it even
higher.
GEORGIA PEACH PRICES.
The Georgia Fruit Exchange's tele
graphic market quotations for Griday
follow:
o_lzoston: U—Elbertas, high 3.25; low
«.00,
Providence: B—Georgia Belle, high
2.75; low 2.50. U—Elbertas, high 2.75,
low 2.50.
New York: S—Georgia Belle, high
3.25, low 2.50. U—Elbertas, high 3.25,
low 2.50.
Philadelphia: S-—Georgia Belle, high
2.00, low 1.75.
Cincinnati: S—Georgia Belle, high
1.90, low 1.75.
Number cars out of state, 90—1. 1
F. O. B. prices, $2@2.25. ‘
Week’s Financial Summary
Following is a brief day-to-day sum
mary of the most essentlal financlal
news made public last week:
A MOf;IDAY. JULY 16,
4 a spot cotton declined 45 i
to 25.45 cents. ¥ poings
Atlanta. bank clearirgs $4,444,591.41,
lastv year $2,819,159.11.
New York cotton closed 40 to 71 points
!owe‘r. Reported rains in the southwest
inspired heavy selling.
New York Stock Exchange closed ir
regular. High money rates caused
heavy selling, with the result that all
issues, led t_){ industrials, suffered sharp
losses. Steel fell below 120.
Chicago grains closed lower. Corn
showed the gß:eatest weakness,
American et Sugar Company de
clared the regular quarterly dividend of
lVb per cent.
arranza’s new tax decree so exorbi
tant for exports, that practically all
American mines and other industries
have been closed. Export duties on oil
now 50 per cent of value of product.
Dan Willard, chairman of committee
of transportations of defense council,
says every railroad in the United States
is now on war footing.
TUESDAY, JULY 17,
. Atlanta spot cotton declined 10 points
to 25.35 cents.
Atlanta bsnk clearings $3,5696,267.28,
last year $1,794,426.75.
New York cotton closed 2 points
higher to 44 points lower, July showing
the loss.
New York Stock Exchange closed
strong. After dropping sharply lower,
all issues rebounded during the final
hour, recovering all losses. Maxwell Mo
tors opened at 41, then fell to 35%, but
rallied,
Chicago corn cloged 1 to 4% cents
higher. Trade was enormous. Wheat
closed lower and oats higher.
Sears-Roebuck declared regular quar
terly dividend of 2 per cent on the com
mon stock.
Crucible Steel Company declaréd a
dividend of 2 per cent on account of
back dividends on the preferred stock.
This declaration cleaned up last of ac
cumulations in this Issue.
Row between Chairman Denman, of
the shipping board, and General Goe
{hals renewed when former blocked plan
of commandeering shipyards.
Reported ‘that Congress probably will
be asked to authorize another big loan
to Allles in autumn_ when present au
thorization exhausted.
WEDNESDAY, JULY 18,
Atlanta spot cotton advanced 5 points
to 25.40.
Atlanta benk clearings $4,208,050.83,
last year $1,853,516.35
New York cotton closed 9 to 31 points
higher. Decline came in the face of fur
ther rains in Texas, relieving drought
aection where most needed.
New York Stock Exchange closed
weak. All issues suffered material losses
during closing hour. General Eleetric
and American Hide and Leather Com
pany preferred were the weakest,
Chicago wheat closed 13 to 19 points
hhgner. Cnvering by eager shorts and
light offerings, due to the rerort that
the minimum price on wheat of $1.75, as
carried in tho bill before the House, had
been favorably passed on by the Senate.
Ohio Cities Gas Company declared a
eash dividend of $1.26 a share on the
new stock.
Government weekly weather report
was farvorable.
Republic Iron and Steel Company de
clared the regular quarterly dividend of
13, per cent on the {srererred stocks.
‘Payable dares October 1 to stock of rec
ord and September 15; also dividend of
114 per cent on the common, payable
tr:’(’nvirsflber 1 to stock of record ang Octo
r .
Reported that an excellent financial
:2(:::?8 wmthpf Ta&o in the (.OmplemJ
v report of International -
tile Marine Company. o
' ' '
Termination of War Will Have
Violent Readjustment of
Values,
By JAMES E. POOLE.
CHICAGO, July 2L—Live stock op«
erators are speculating on the proba«
ble effect on values of an early peace,
That a world's shortage of beef, pork
and mutton exists admits of no dis
-lute, but termination of the war will
have violent readjustment of values
as its logical sequence, and mainte
nance of present prices in that event
is regarded as impossible. As long
as the war lasts all classes of live
stock will sell high.
Since the boom in May somewhat
violent readjustment has been iln
progress. Good cattle are selling at
the high point of the year, however,
other grades having declined any
where from $1 to $2 per cwt,
Taking quality into consideration,
the decline on hogs is 75¢ to $1 per
cwt. Lambs have depreciated about
$56 per cwt; sheep half as much.
With the war over, Great Britain
and France would no lenger be under
the necessity of maintaining vast
armies on a heavy meat ration, and
while the Central Empires are facing
bare larders, it is doubtful if they
would be free buyers of American
packing house product except at re
duced cost.
Record Business
In Locomotives
’ NEW YORK, July 21.—Unfilled orders
on the books of the American Locomo
tive Company June 30 were valued at
‘ $85,000,000—a record-breaking total,
‘Less than a tenth of this business is for
‘munitions. The world demand for mo
tive power has filled the schedules of
the company for the next two years.
The Richmond works, which were
i“‘qnd to produce shells, are now being
prepared to handle the Russian order
for 250 locomotives. While the volume
of buslness now in hand is tremen
‘dous, it is stated that after-war trade
will take even larger scope, as railroads
throughout the world are waiting for
lower steel prices before contracting for
equipment.
| et ——————c———
Canada’s Wheat
WINNIPEG, July 21.—A Manitoba
crop report ijust issued shows there is
an estimated total acreage of 6,417,696
in the province, an increase of 151,488
acres over last year. The acreage fig
ures for the various cereals are: Wheat,
2,853,362; oats, 2,230,005; barley, 1,270~
724; flax, 63.505.
Figures issued by the Alberta Depart
ment of Agriculture show a spring
wheat average of 1,420000; winter wheat
10,000; oats, 1,600,000; barley, 250,000 and
flax, 50,000.
The Saskatchewan wheat acreage is
estimated at 7,862,57, as compared with
7,457,700 last year.
THURSDAY, JULY 19.
Atlanta spot cotton declined 45 points
to 24.95.
Atlanta bank clearings $3,862,491.13,
last year $1,984,222.13.
New York cotton closed 35 to 57 points
lower, Further rains in Texas and
Oklahoma and unfavorable export situa
tion caused heavy selling. Demand was
of a good character all day.
New York Stock Exchange closed
steady. All issues broke sensationally
early in the day, Steel common falling
lto 1187%, but renewed demand developed
near the close and a brisk rally fol
lowed.
Chicago wheat closed 4 to 14 cents
higher. Covering by shorts caused the
rise. Corn and oats closed sharply
higher.
Atlanta Warehouse reported that they
sold 1,500 bales of cotton late Wednes
goaoy at 25% cents, the lot bringing SIBB,-
General Electric $15,000,000 short-term
notes offered- at 99% and interest to
yield 6.10.
United States Express declared a,
fourth partial distribution of assets ot
$3 a share.
FRIDAY, JULY 20.
Atlanta spot cotton advanced 25
points to 25.20 cents.
Atlanta bank clearings, $3,728,562.62;
last year, £1,978,008.26.
New York cotton closed 5@26 points
higher, except July, which closed 10
points lower. Peace talk and complaints
of too much rain caused the rise, At
one time during the day the list stood
15@35 points net higher, or 37@78 points
above the day's low levels. Realizing
sales trimmed the highest marks,
New York Stock Exchange closed. All
issues, led by Steel comon, closed ma
terially higher. Steel climbed to. 122,
against 119%, the previous close. De
{':m}:)d was moderate all day; offerings
ght.
Chicago wheat closed %@lO points
higher. ©ats closed 5 cents higher.
Corn scored a sharp gain. Active buy
ing, led by shorts, caused the rise.
All eyes of the financial world were
;urned toward Washington—army draw
ng.
~ Senate placed food control In hands
‘of three men, but amendments to elimi
nate Hoover were rejected.
.Chairman Denman, of United States
Shipping Board, urged maximum ahlg—
building progsam. satying German -
boats sink 1,000,000 tons a month.
Twenty thousand miners in HKentucky
and Tennessee demanded 8-hour day
and recognition of union.
i
‘SATURDAY, JULY 21,
Atlanta spot cotton declined 50 points
to 24.70 cents,
Atlanta bank clearings, $3,316,184.07;
last year, §1,821,431.45. For week, $23,-
156,547.34: last year, $12,250,854.05,
New York cotton closed 3T@SO points
lower. General rains over the befl. in
spired heavy liquidation. July was the
weakest option, being under heavy
pressure.
New York SBtock Exchange closed
strong. All {ssues scored brisk gains.
General FElectrlc and United States
Steel common led the advance.
Chicago wheat closed 5@9%3%, cents
higher. Corn and oats closed lower,
Fallure in the United Btates last
week numbered 266, against 289 the
same week a year aepn,
Elgin butter advanced 1% of a cent a
pound o 38 cents,
Reichstag voted new war credit of
$3,750,000,000.
United " States removed embargo on
munitions to Mexico.
Dun’s Review said halting tendondg
appear both in new business and
prilcj-e:’ a?d r;sultt mainlyufromem
ued bouts akbout prospec ve
changes arising from war conditions,