Newspaper Page Text
4B
THE SUNDAY AMERICAN'S FINANCIAL AND COMMERCIAL PAGE
Srice Fixing Talk, Transportation Conditions
and Fuel Holidays Helpful to Bears—Prices
Off 88 to 102 Points—No Legislation Seen.
By VIOTOR BARRON.
Cotton bulle backed away from the
met lamt week and allowed the
to hammer prices down mate
Hally.
Saturday's closing quotations in
New York showed futures 82 to 68
ints below the previous Saturday's
, while the liat in New Orleans
;h.)'ed a loss of 88 to 102 points,
ipot holders were indifferent, with
mnla light. Advices from the belt
that the position of the actual is
in wl as ever, with holders inde
t and confidently anticipating
prices.
1 rts that the President had
for blanket authority to fix
e#s of commodities essential to
ution wf the war, together with
atinued talk of curtailment in con
r on and the unfavorable trans
: tion wsituation, furnished the
. ineipal incentives for the attack on
: market,
3 Belling Liberal 0!l Week,
- Belling was more or less liberal all
% K, comirg chiefly from specula
e sources, consisting of ligquidation
) long lines and short selling. The
st was credited with getting out
g.‘utton bought early in the week,
South, Wall Htreet and commis
nn houses figured prominently on
#elling side,
Trade houres, spot firms and Liver
-1 contributed the bulk of buying
ors. However, the old bull erowd
3 back, with the resulit that values
_ yeré depremsed without much resist
fle peace prospeets looked
: ter than for some time, eatly
_ week, the speech of the Ger-
Chancellor diminished the feel
] m-ideubl* that the war will
this rr. ha report of a revolt
6 m was helpful to the bulls,
-the German Chancellor's ad
peace talk grew less and huy-‘
. H?d away from the market,
- Il Takings Fall Off,
‘ bears also used smaller mm‘
; and exports to sell the mar
-5 Exports last week were bO,- |
: % against 102,947 the same
: year, Exports so far this
i total 2,618,861 bales, or more
~ han 1,000,000 bales less than the pre
corresponding perfod 8,674,200,
' ners’ takings for the week weorn
: ly off from the msame week
. being attributed partly to
«Aay shutdown and unfavor
; aportation conditions, which
ving considerable effeet on the
- Northern mills, who are experiencing
b Glmc\n;{ in getting from South
_rn points. Mlll takings for the weok
o ted to 251,000 bales, agalnst
] he same period in 1017, To.
: Ak, ngs since August 1, 19817,
t to 6,882,000 bales, compared
% 087,000 the period correspond
hern consumption last week
4 80,000 bales, against 126,000 a
it effect of the extremely bad
; r and raliroad congestion on
b ia evidenced by the overland
~ povement last week, which totaled
= 1,684 bales, against 28518 the
. Rmeé week last year Ho far this sea
~ bn the movement totals 911,172 bales,
~ gainst 1,072,001, :
> No Price Fixing Seen.
~ That there is no danger of the price
Week’s Financial Summary
walng Is a briet dly-h-d:‘y sum.
pary of the most essential financial
"ll made public last week:
MONDAY, JANUARY 21,
Atlanta Commereial Exchange, New
or'! “nd New Orleans cotton exchanges
nd the Meotal Market were closed-—ln
-0 tion with fuel administration at
As ln’ton.
~ Atlanta bank clearings $10,536, 985 64;
Bt your, §4,700 225 66
formg d}ock Exchange closed
eady. Under t\g leadership of co;‘\p r
nd 01l s na‘ all issues scored s I£p
R wi exas Ol showing the
_jeatest strength. Trading was light.
Wi ? eold and absence of lights,
it and other o(rmtln( facilities. Op.
fators used candles at wires to recelve
e Bt clossd sightly high
O clos s 1t igher.
Rd W!Jfl and fmlurn{;n‘ Big
BCe D of corn and hogs caused early
in
© Rumo that copper prices will be
uiged to 26
Greatest snowatorf in recent years in
Veste ‘“‘fun. Heavy snow drifts
{ | na In all directions.
1 h yur‘nded December 81, 1917
e Mh&l.l {scuit Company reported
BAT a re earned on ita common
tock, compared with $5.72 a share in
‘Se flacal mr ended January 81, 1917,
~_Applicat made by the Ohlo Citles
jas Uompany to the New York Stock
"mmfl committes to list §l,-
tional common stock.
3 ?fihl fallures last week in the
it tflu.“? reportad hy R. G. Dun
1 Co. "f' . against 286 the pre
-s’o . 318 the preceding week and
48 the corresponding week last year,
: TUESDAY, JANUARY 22,
bAl'll‘.no“ spot cotton declined 45 points
Atlanta bank clearings, $6,422°3).81;
st year, $4.378,6%0 .46
New York cotton declined 48 to 68
pints luflnf the forenoon on active
, due to price—flxinf rumors, At
all wire communication to Seuth
out off, owing to sieet
?o' York stock market wes aotive,
ut rne. movenient was narrow at the
ing. Later all active issues moved
: on moderate buying. Wire trouble
dyvented afternoon movement of the
mm being received here.
*h raing wre fractionally lower,
nin’ to fighl demand and heavy re
wing to demoralized telemrhlc
&—North and South-—-due to sleet.
market quotations were delayeq.
uotations were published here. |
Th‘k‘hkeyo Pipe Line Company de- |
: & regular r}x.n"(nly dividend ot
and an extra dlvidend—amount not
i in In wire report
4 s Garfield sald his four days' sus
. of bysiness has brought more
10A! the East than it has had in
but New York State fuel admin
nk{ famine in New York has
n relieved.
’
ChangesldleMonday
All important exchanges will
be closed Monday, with the
exception of the Chicago Board
of Trade, on account of the
“heatless and lightless” Mon
days.
The Atlanta Commercial
Exchange also will be closed.
It is not known whether the
Coffee and Sugay and New
York Produce Exhapge will be
colsed or not.
fixing bill becoming a law is evi
‘denced by the following from Thurs
day's New York (ommercial:
| In tmportant trade circles little
~ importance is attached to talk of
‘ a fixed price for cotton, 1t is un
derstood that Southern (‘ongress
men would line up solidly against
legislation on the theory that it
would cheeck the dispositlon now
noticeable to enlarge cotton acre
age. The opinion is expressed
that, even If a price 1s fixed on
cotton, It would not apply to the
crop about to be planted unless
the maximum, as was the case
with wheat, was fixed at such a
high price as to furnish added in
centive to planting the staple,
A private message received from
Washington early in the week said
that there will be no price fixing on
this crop and that it Is extremely
doubtful if prices will be interfered
with at all in Government needs are
taken care of.
A Charleston firm sent the follow
ing wire:
Am advised irom Washington
that there will be no price fixing
on eotton by the President, even
if given the power. Also, that
present prices fixed on wheat,
conl, ete, will be modified fur
ther. That from an economie
standpoint consider laWw govern
ing the fixing of prices of cotton
as anything But an economic
measure, and should he dlscour
aged In every way poesible, espe
clally at this time; in fact, farm
ers ahould be encouraged to ralse
large crops.”
" Albert . Rucker, of New York,
comments as follows with regard to
Government price fixing:
If any price fixing on cotton
ghould be serfously contemplated,
which is doubted by the trade at
large, such action will hardly take
place at this time of crop prep
arations so as not to encourage
any reduction in acreage, unl_o,s’ a
price well above recent high lev
els for spot cotton should be de
clded upon. Moreover, due con
sideration by the thinking world
should be given the fact that no
arbitrary price fixing can ever oc
cur such as would benefit one side
to the detriment of the other, but
that actual commorcxl conditions
must form the basls for price
regulations.
By STOXAN BONS.
WEDNESDAY, JANUARY
4 A‘tln&tn #pot cotton docuno% lhomu
o 31.66¢c.
Atlanta bank clearings $9,808,738.20;
last year, $4,806,219 28,
New York cotton closed 8 to llelnu
lower. After scoring a sharp advance
during the late forenoon, the market |
broke on renewed selling and absence
of strong démand,
New York Stock Exchange closed
weak, Sreoialues were strong and
higher early in the day, but durm‘ the
closing hour they slumped mater ally,
;vs!th 1;?“.“ Clgar Stores falling from
to b
Chlcago grains closed with gains of
more than a cent.
Regular dividend declared on Penn
sylvania, Norfolk and Western and Con
solidated Gas.
New Orleans Cotton Exchange voted
to _close on all heatless Mondn{s.
President Wilson extended until June
prices of 28%c for copper fixed for Sep
tember 21,
Sears, Roebuck & Co.'s surplus for
1017, after deductln(‘dxceu profits tax
and {)rc!srred dividends, was estimated
at $13,690,000 wal to $18.26 a share
on the §76,000000 common stock, aec
cording to Wall street reports,
THURSDAY, JANUARY 2,
Atlanta spot cotton advanced 35 points
to 32 centa,
Atlanta bank clearings, $8,774,735.63;
last vear, $4,033520.66,
New York = Stock Exchange closed
strong. Strong demand caused vigor
ous gains throughout the list.
New York cotton closed 26 to 38 points
higher, due to active buyln*nlby ;ro!
houses and trade interests. e buying
WAas unmuh(q“ by news of a revolt In
Vienna and that the ?Hce-flxlnl bil
has been held up indefinitely.
Chicago grains closed slightly higher.
Seaboard houses ware strong buyers of
oats rrly in the day, with the resuit
that January rese to a new high record
of 82 cents.
Usual dividend declared on Greene-
Cananea-—~2 per gent quarterly.
Gaston, Willlams & \\'Mmoro de
clta;id the regular Quarterly dividend
o .
Columbia Gas (‘om?ma' declared the
;rep:llr quarterly dividend of 1 per cent,
essed Steel Car \‘omfpany declared
the quarterly dividend of 3175 on the
gommon stock. and the nvllr quarter- |
Iy d‘:\'idend of §1.70 on the preferred
stock. '
The New York Stock and Coffee Ex
changes voted to close on coalless Mon
days. :
écneral Eleotric Company's profit :
loks account for nine months en
tember 30, 1917, nhnw:d balance o
?77‘.’60. equal to $27.38 a share on
101,518,500 capital stock outstanding.
FRIDAY, JANUARY 25
.\stlanu spot cotton declined 20 points
to 31.80 %
.étltnu !.):In.l’t. 'c%:‘a:rlin(s $8.476,025.70;
) year, 3 .
New York cotton market closed 31 to
HEARST'S SUNDAY AMERICAN . A Newspaper for People Who Think — SUNDAY, JANUARY 27, 1918
\
! o 8
‘ All Business
.
' Here Is Active,
- Bradstreet Says
4 OLLOWING shows Brad
i F street’'s summary of local
¢ business conditions here for
?’,tho week ended Friday, January
| 25:
¢ Trade at wholesale and re
i tail good. Manufacturing in
| dustry active. Jobbers and
l' manufacturers report aoctive
’é demand for goods,
“ Deliveries necessarily de
| layed by enforced inaction,
| {reight congestion and bad
{ weather conditions.
§ Retail business has suffered
! from same causes, though
{ where weather permitted sales
! have been active. Altogether
! for reasons above stated re
g sults have not been satisfac
tory. Collections are good.
; The fuel situation is gradu
{ ally improving, though manu
{ tacturers dependent on coal
' are still badly handicapped.
Week’s Range
.
Following shows the nighest and low
est prices of active cotton options on
the new York and New Orieans Cotton
Exchanges last week, toghother with
gnurdly‘l close and net ¢ .nqc" from
riday's close; also below net changes
for week: sk S gl e R
NEW YORK.
| | } Sat. |Net
|High.| Low. clou._lg_'!’
January . . . .|031.38/130.58]........{....
Mareh . . . . ./031.03 -g).w 30.31.!8'—14
MBE . . 4;13)..0‘ .gz 29.83-8 '——ls
July . .1130.271%29.30| 29.47-49|—17
October. . . . 128.88%28.04] 28.14-15/—l3
NEW ORLEANS.
’ ’ , Sat. [Net
High.| Low.| Close. [C'se
Jahuary. ~ . .[-30,68/t29.68| .. .. .../,
Marsh. - ,jkm.so‘z‘fo’.n] 29.03-05—14
May, . b . R 28.71.76/ —l7
July. e 20.32/%28.31 28.42.46 —lB
October. . | .1129.70/#27.02| 27.13_17!—11
?Tual‘lg: iWednesday; -Thursday;
oFriday; *Saturday.
Nat cfinnneu for week:
NOW YO, .o ohavoa ol o —82::;
New Orleans.. .. .. «i +« .. «.—BB@l
N U
{ Fertilizer Materials f
R AA A A AAAN PN TTN
\
| Corrected by HARRY COHEN,
United States Food Adminlstration L!-
cense No. G-27360.
Nitrate of soda, 95 per cent, ex ves
sel, 100 pounds, $4.40@4.45; futures, 100
pounds, $4.007%4.45
Suliphate of ammonia, bulk, f. 0. b.
Baltimore, 100 pounds, $7.00Q7.25; sul
phate of ammonla, bulk, f. 0. b, New
York, 100 pounds, $7.00@7,.25.
Blood, e, a. f. Atlanta, bulk, per unit
ammonia, $7.15; tankafle, f. 0. b. Chica
go, bulk, rer unit ammonia, $6.25@86.36:
tankage, 0. b. New York, bulk, per
unit, ammonia, $6.45@86.50. ‘
Nebraska potash, ¢. a. f. Atlanta, per
unit potash, $6.45. |
Camp Gordon manure, f. o. b. Mlantl.‘
per ton, nominal,
Aecid ph sghate. e, a. f, Atlanta, bulk,
per ton, %l 3
Tobacco stems, c. a. f. Atlanta, per
unit potash, $6; tobacco stems, ¢, a.' f.‘
Atlanta, per unit, ammonia, $6.40,
“;‘WW bone meal, f. o. b. Fhiladelphia,
Bags, . a. f. Atlanta, per 1,000, $320.
Armour Eranings
20 P. C. on Stock
CHICAGO, Jan. 26.—Armour & Com
fn;y‘s business in the United States in
917 amounted to im 000,000, on which
a net profit of $21,000,000 was earned
lmeurdlng to the firm's financial repor‘
just made publle. The frm's busi
ness in products originating in t;\II
country-—sold both here and ab e
was $560.000.000 greater than the world
business of the firm in 1916,
Net ingome was equiviilent to 14.5 vx{
ocent on invested cafinu. or 21 %er oe
on the u?ltul stock. The profit frgg\
the sale of meat and other food prod
ucts ?moumed to 2.31 cents on each dol
lar of sales.
In 1018, Armour's total profita wers
$20,100,000-14.7 per cent on investment
and %0 per cent on capital stock.
RAILROAD EARNINGS.
Reports for November frem 183 rail
roads in the United States show In the
aggregate §72,336,007 net after taxes, a
decrease of $29,204, 032,
42 points lower, Active selling and lirh‘
demand, due to unfavorable politica
news, bearish spinners' takings and
ul'anaporutlun conditions, caused the
slump.
New York Stock Exchange closed ir
regular. Railway issues score vigorous
gains during the afternoon, while steels
and other issues dr&rpod,
Chicago corn closed lower and oats
Ehlgs.r. Commission houses were the
leading buyers,
Directors of the Chicago Board of
Trade voted that trading in corn for
January delivery be discontinued.
American Ice Company reported to
‘have harvested so far thli year 100,000
\!ons of natural ice, more than was har
vested during the entire season a Yyear
ago.
American Woolen Company duri
the last year made larger earnlnx.
was reported, than in m¥ other year
{ts business career. he con;slny'l
Government contracts amount to
$100,000,000.
Value of the automobile tires to be
manufactured in the United States dur.
ing 1918 expected to exceed $500,000,000.
SATURDAY, JANUARY 26.
Atlanta spot cotton declined 20 points
to 31.60, |
Atlanta bank clnfln.;,o $6,888,998.41;
last year, *8.3!5.700.!.. r week, $31,-
013.846.79; last year, $24,358 38235,
New York cotton closed 7 to 17 points,
lower. Week-end liquidation caused the
decline. BShort covering and buying by
trade houses was the “sustaining factor
early in the day.
New York ?tock Exchange closed ir
xes\!lar. Steel issues were in demand.
hicago grains closed higher, with
oats most prominent.
Provisions closed higher.
Slfi):‘!nrd OU of Kansas declared the
regu qmflefl( 3Mdend of $3 a share
':ng an extra dividend of SB.
controller of Great Britain told
Hoover that Allles must have 75 (00,000
bushels of wheat to miu" victory.
L Ropor\gleuut presider¥ and vice m
dent of nver and Rio Grande will
named receivers of the road. =
Court granted permission to Rquita
bhle Trust Company, which helds Jmlf
ment of $3%.600.000, to intervene in suit.
" '
; Market Regains Part of Loss Near
- Close—Offerings Free at Start.
Stop Loss Orders Caught.
NEW YORK, Jan. 26 —Offerings of
cotton were free today and the ton:
of the market was weaker althoug
toward the end there was a rally from
the bettom.
Near months were easier at the
opening, March being down 3 points
and May showing a loss of 4 points.
By the time trading in May ended on
the call, however, attentioh was at
tracted by the firm tone in New Or
leans where prices were several points
higher and the later positions in the
local market were steady, recording
advances of 5 to 8 points.
Following early irregularity the
market developed an easier tone on
reports of Texas rains and predictions
for further precipitation over that
section, Business as o whole was not
active, By 11:30 o'clock the list
showed a net Joss of 12 to 16 golnu.
The market turned weak in the late
morning with offerings increasing in
volume and stop loss orders were un
covered. The close was firmer on a
short covering movement\at a net de
cline of 7 to 15 points,
Spot here was qulet at a decline
of 20 points at 31.60; no sales. Spot
at New Orleans was steady and uh
changed at 30.87; sales 1,752 bales,
Receipts at the ports for the day
were about 16,000 bales, against 10,«
977 a year ago.
Receipts at New Orleans were 3,936,
Savaunah 952, Norfolk 356 and Hous
ton 5,247,
NEW YORK COTTON FUTURES.
I = = 'u°! l ‘
g ol ” 5 9
Py Wl il set 160
Mh !20.40:30.50 30.15;30.31?30.31-35‘30.45-47
&Ll a 0 S 0
My |26.90]30.03 29.65|20.85|20.83-85/29.98-30
a 8 Lot bes s
Ty ,‘29.72}2».72)29.30‘29.47;29.41-49!2;.64-65;
ALo aliogdin ol - 8088 ONEOBO
oo \23,3039.9«23.04.z5.mgz5,14-15'2&:7‘20‘
¢ |28.12!28.12/28.15/28.12/27.00-93138.04-06
Cloged firm.
NEW ORLEANS COTTON FUTURES,
l .82
B
8] sls »l Ilp
Fh L.oodo. ol 129.68 [29.08
Mh |20.46)39 92 |20.5829/05|29.03-06|20.17-19
# wieocloton sl 129.08-08128.17-19
y |28.95/2%.98/28.60/28.75/28.71-76 zi.ss-sx
Je .....1.....;...“-”...1z5.n-vo%‘.cs'
Jy tg.sfigzs,es 28.21128.46 28.42-4¢ 28.60-65
Oo |2 .26;27.26]27.02-27.15‘2;.15-17(28]5-37
o }.oilicn ....,F..'.IJ 00-0827.10
Closed steady.
SPOT COTTON.
Atlanta Commercial Exchange quotes
golod middling, firm, 31.60; sales 650
ales.
Atifnta Warehouse Company quotes
good middiing, 315,
Liverpool, middiing, 23.89 d.
New g’m;k, middling, 21.60.
New Orieans, firm, 30.87; sales 865
bales,
Charleston, middling, 31c.
Wilmington, middling, 304,
Galveston, qulet; middling 31.10; sales
74 bales,
Savannah, nominal; middling 31%.
Augusta, steady; middling 3l1c; sales
1,120 bales.
Philadelphia, quiet; middling 32e.
Boston, quiet; middling 31.80.
Norfolk, steady; middling 30.38.
I:Hlt' Rock, steady; middling 8le;
salés 540 bales.
St. Louis, steady; middling 31%4.
Montgomery, quiet; mlddllng 3114,
Dallas, firm; middllnq 30.40.
Houston, steady; middling 30.80; sales
146 bales.
flobile, nominal; middling 30.88.
emphis, steady; middling 311; sales
1,600 bales.
COTTON PORT RECEIPTS.
The following table shows receipts at
the ports today compared with the same
day last year:
191_§_. B S9N
New Orleans . .| 5,963 897
Galveston . . . .| 5,558 6,617
Pl ~ . . | 15 321
BaVlimah SN 952 869
harleston . . . . 230 | 5
{imington . . . 100 | 41
BRI . . . 850 696
BEEROPe- . 00l ik 64
W York. ..l ML
TR b i) 704
ghllldelphis. Rl e 167
ensgcola. .. . ... | 526
_Totals . . . .| ~,lm*__',“ 10,077
INTERIOR MOVEMENT,
St ] JUL BT
Houston . . . .| 5,447 | 4,456
Sußusta . . .. 767 | 888
Memphis . . . .| 238 | 3009
Rl ..o L] 6,386 | 883
Cineinnatt . . | .| 530 299
Little Rock. .. .| es 4|- 187
T - L. TEoeN :
ATLANTA COTTON SEED PRODUCTS
Crude 011, basis prime—January and
February, 1.31.
Cotton seed, 7 per cent ammonia~
January and February, 47.50@48.50.
Cotton seed meal, 7 per cent, Georgia
common rate point—January 'and Feb- |
ruery, 47.50@48.50. |
Cotton seed hulls, sacked—January
and February, 22506 23.50.
Cotton seed hulls, loose—January and
February, 19.00@20.00.
Linters, clean mill run—January and
February, 4%@5%ec.
NEW YORK CURB STOCKS.
NEW YORK, Jan, ls.—frnfilng on the
curb today was of the usual short ses
slon character, dull and mixed as to
rflco movements. . Chevrolet Motor ear
y scored an advance of about 2 points, |
but this was all lost near the close.
Ofl stocks were active, but declined !
near the close. .‘\Hnmf stocks were |
fairly active and without material
change in price. Quotations: |
Sales. Stocks. Close.
BEE AL .. . .G L. Th
2,000 Chevrolet.. .. .. .. ~110 @ll3
| 100 United S. Steamshipl. 4% 47%
700 ASnglo-American .. .. 12X @ 13%
l.& AN O L 0 7
il. Foieml oR R 2%
200 Intér. Petroleum ~ .. 13‘ 13
500 Metropolitan Petroleum 7-16@
000 Midwest Oil .. .. .. .. 116 118
.% Oklahoma Oil .. .. :. ~8% 4
Oklahoma P. and R. .. 7 P TY
Y Vietenls .. .. .. +. .. THO 37/‘
1,600 Rig ledge.. .. .. .. %@ls-1
2,000 Jerome Verde .. .. ..11-16@
809 McDarragh .. .. .. 86 @ o 0
1,000 Mogher Lode .. .. .. .. 25 217
N MAR.. i 3w sy i 10
l.xSu ‘.Gn Ta
1, Tonopah Extension .. .. 11 1
MONEY AND EXCHANGE.
NEW YORK, Jan. 26.—Money on call
this week ruled between 6 and 2 per
me money was a scarce commodity.
Rates on industrial collateral were
a:oted at 6 per cent, with 6% per cent
nl'l'x!xed‘n.ct.)lltte»nl. Siktng B
quiet dur
’Covenng Over Holidays and Buy
ing for Long Account Gives
.
List Boost.
By BROADAN WALL.
NEW YORK. Jan. “.—Etogk
closed strong both on the exchange
and the curb, with the motor shares
In leadership. Both Fisheries and
Hide and Leather and many of the
rails were higher, Trading was on
a light scale, but in addition to pro
fessional covering against the holi
days there was some accumulation of
long stocks because of a belief that
conditions will be much better when
the market reopens on Tuesday.
Officlal announcement was made of
the purchase by the Tobacco Products
Comptn% of the Falk Tobacco Com
g-,ny. he deal was made wiw‘n
orrowing mone!, payment ng
partly in cash and partly in preferred
stock of the Tobacco Products Com
pany, whose annual dividend require
ments will be Increased less than
$40,000 as a result. Tobacco men con
sider this a splendid way to use the
surplus of the company, which might
otherwise have increased its common
stock dividend. Price of Tobacco
Products on the exghange was not af
fected by the deal.
The advance in Hide and Leather
preferred was due to employment of
H. W. Coverdale, the engineer who
will go through the plants of the
company and realign them so as to
get the greatest operating efficiency.
Bethlehem Steel and United States
Steel directors meet on Tuesday to
announce the dilvidend rates. No
change from the present rates is ex
pected by bankers, who basé this ex
pectation on the theory that the Gov
ernment has asked the directors to
do everything in their power to help
the investment situation in order to
make the Liberty bond issue go bet
ter. Both companiés can well afford
to maintain these dividends, as pay
ments are made out of 1917 earnings
Both companies are also assured all
the work they can do as far ahead as
they can look into the future. The de-,
mand for more big guns helps Bethle
hém. That company is also prepared
to participate to the fullest extent ln‘
the business of peace. The astonish
ing deal alleged to have been planned
by the Mercantile Marine directors for
sale of all the company’s ships under
the British flag to'a British syndicate
‘at a price far under, their current
value is off by expiration of the option
‘ given.
Denver preferred was weak on an
nouncement that a receiver had final-
Iy been appointed for the property.
Canadian Pacific was strong in ex-‘
Yectation in close relations with the
Dominion Government. All railroad
stocks showed the effect of the legis
lation now going through Congress ln’
their behalf. Copper stocks were |
strong because of the splendid profits
guaranteed by the Government when
it agreed not to reduce the price oY the
metal below the 23 1-2¢ figure estab
lished some months ago.
The actual bank statement today
showed an increase in surplus re-|
serves of $29,005530, an increase ln'
loans of $78,963,000 and a decxease in
net demand deposits of $50,000. ’l‘hel
average statement showed an in
crease in surplus reserves of 813.664.-|
740, an increase in loans of $3,971,000,
and a decrease in net demand deposits
of $89,912,000.
Stock quotations through closing bid:
| | |Clos.|Prev
STOCKS — |High |Low. ?B!fl;EC[{sg
Aflis-Chalmers . | 19%] 19 | 19 | 18%
TS MR N BN
Amerfean Zine . .| ....| ....] 141 14%
Amer. Beet Sugar | |77 |77 ’7%
o prel. D . oo [
American Can . .| 27% 3613 36;’2‘ 37
do, pref. . . | ....| ....]| 80%41 8974
Am. Car Fdy. . .| Tl%! 71 | Tl%| 70%
Am. Cotton Ofl .| 28 |2B | 28/ | 28
Am. Locomotive ,| 56%| 561 | 56%! 55
@O, pret. .. .| oot . |9BC 06
Amer. Smelting .| 83%| 82 | 828;| 83
A 8 pref. .l T G 106 Hoadg
Al Btdel Py .| 00l Lo 60 o
Am. Sugar Ref. .[lO5 |lO5 105 [106%
Amer. T. }nd S .}104% 10414 110474 1032’,
Amer. Woolen. .| 47%' 47§;f 4% 47
do, flref. & l i as 924;
Amer. Linseed .|| 82| 3214| 3214 331
do, pref. . (74 sm«; 4| 3%
Atl. G. and W. I .]1028,110215 10215 103
Amer. H. and L. .[ 13 ["l2° | 12 |l2
do, pref. . . . b53%| 53%! 53% 53
Amar. .\?alt Corp. | v : o) 53?.
0, BESE. . ) ioaalian il e Lo
Amer. x')l’ot(mcoo .YI“‘A:IO(W. 18014160
Am. Suma. Tob. .| 66 |66| 66 |66 !
Amerioan Tee .- liGo, (sci 4] ; 11
do, préf. . . i} gl #ij) il 37
Alagka Gold . . .| 23‘ 24 2@ 214
Anaconda . . . .| 61 6114 61 6115
Atchison . . . .| 8435 843 843;| 833
do, pref. . . ] sovslaeriil 80 1 82
&R T L gl it NS R
Baldwin Loeomo. .| 6114 50% 611, 59
8. amd O, . . 051 | 50%/| 5075 503
¢ TR iy | S i e
Bethlehem Steel .| ....| ....| 76 | 76
S 0 DINE PAE: ] vl sl st B 8
do, pref. . . . 9815 9814/ natz! 98y,
do, E v e .| 8% T4%| 6 !74;2
BB T .~ . A 0 FeORrAS |4B
Butte Superior . . 187% ! 187% 187%! 1813
Cal Petroleum . .| 158 |ls | 15 | 15614
88 préf. .. ciadbaaal 49 149
Canadian Pacific . 1433, /141% 14214141
C.OGQ « v .| BRI | K 52%
RN L g el 8 18
Colo. F. and I. . . 85 |35 |35 |35
C., M. and St. P. .| 43%| 43 | 43% | 428}
RAR P R R R
Chino Copper . .| 423 42%| 423, 421
Consolidated Gas .| ....| .... 87l 8714
Corn Products . .| 3314\ 32% 325 32%
Crucible Steel . .| 68%] 5422; 66le’ 5414
Cuban Cane Sugar; 313} 31331 313! 314
40, Dref. . . 1:| saus| 2ive| 19 ‘mgi]
Cast Iron Pipé . .| ....0 ....| 18% 12 |
Central Leather . .| 65% 64120 641, 6515 |
Chile Copper . - 1614} 1614, 1614! 16‘%’1
Columbin Gae . .| ...l ....| 33% 88 |
Corro D 8 Pased . [ ....] ....] ....| 0%
Contisuntal Oub ] .0 o 0 o hee
Del. and Hudson | 110% 109151110 109 1
Distil. Securities .| 3834 3713! 871 37
AR a 5 g o] 14:2“ 143 148 141
l Qo. iat’ preb. || 2B 348 bl 24%
RSB INNE . bl SRR AR
General Electrie .;130%‘130 130 131
Geenral Motors ./118% 116% 117 116
O P - ol s 80%1
Goodrich Rubber .| 45 ! 433, 45 ' 43
G. Northern, Bfd. | 88%| 88% 883, 89:2‘
G, Northern Ore .| 273! 26%| 263, 29 |
Great Western . ; Taval ael v, .| €W
B o oa e
Gulf States Steel .| ....! ....! 87%| 88
Illinois Central . 95 | 95 | 95 | 94
Insp. Copper . .| 46% 46 | 45% 447%
nterhore . as ot T TR
do, peab . .o o ECU T aell o
Indus. Alcohol . .'llß% 1183%/118% 119
¥n{:r. };\'lckel o NE 2 1'5’87,.{ gs fgg%‘
i Inter. Paper .. .| 27Ty! 274! 274
K. C. Southern ; 17:2' 1753 17“2? 17“
ogL . i ’ iiae] 49 }4l
AT I Sieo) snnsl S 8%
L, i) ettt diod o
| Kennecott . . . .| 32%! 83y 32% 33’2
Lack. Steel . . . .| 75| 5%/ 751! 76%
FAhigh Yalley . .i ....1 ...<l'6B | §7
Liberty Bonds 31s 98.04 98.04 98,04, .. ..
do. 4s. . . . .|96.24/96.24/96.24] .. ..
L.and N. . . .. . 113%/113% 113% ‘ll3
Maxwell Motors .} 27 | 26 | 26 | 2634
do. Ist pref. .| ....] ...} B 7%;: 67
Mo. Pacific (new).| 22! 22 | 23y 21y
Mex. Petroleum . 91 | 8933 0%, 9115
Atlanta Bank
.
Clearings for
Week $51,013,846
ESPITE unfavorable weather
D and in view of the fact that
Monday virtually was: a
holiday, owing to Administrator
Garfield’s fuel order, Atlanta en
joyed splendid business last week.
Here's the proof:
Clerings through the local
days aggregated $51,013,846.79,
national banks for the last six
as ocompared with $24,353,-
28235 the same week a year
agb—a gain of more than
twenty-six million dollars.
The week’s total was remarka
bly large, considering the fact that
there were two days that clearings
failed to reach s7,ooo,ooo—Tues
day and Saturday. |
The Iron Ase today says:
! “With so large a {mrt of their
‘Froduot. particularly in heavy lines, go
ng to the Government or its allles, or
to plants having Government contracts,
‘the iron and steel Industries felt less
‘than others th?stolosinl Jdown order of
the fuel administration.
~ “It is_estimated that the flve days
;cndlng Tuesday brought a curtailment
of 10 so 15 per cent from the already re
‘stricted rate of recent weeks. Probably
70 per cent of the flast furnace, open
‘hearth steel and coke oven capacity was
‘kept In operation, but all Bessemer
fla.nts were down, the Government buy
ing converter product, and only such
rolling mills were run asg had been en
fra.ged in producing for ships and shells,
ncluding plate mills and some struc
‘tural and boller tube mills.
| bSI i
Soldiers Pay No Dues
NEw YORK, Jan. 26.—New York
Stock Exchang2 members who are alone
in business ~nd at present in active
naval or military servize are reliaved
'from paying the ugual membershin dyes.
The governln‘f committee of the Kx
change passsd a resolution remitting
duyes paid November last by such mem
bers. The resolution does nap affect
assessments paid by such Inembers.
Dues are SSO every six months. 1
Commercial 'Change
~ Stockholders M
| e
The second annual meeting of
stockholders of the Atlanta Commar
cial Exchange will be held Tuesday,
Januery 29. This announcement was
made Saturday by Secretary J. Hope
Tigner.
Luncheon will be served in the ex
chaige room following the meeting.
LIVE STOCK MARKET.
CHICAGO, Jan. 26.—Hogs—Receipts
30,000, market slow: 15¢ lower; mixed
and butchers, 15.30@15.85; good and
heavy, 15.30@15.90; rough and heavy,
15.30815.40; light, 15.10@15.70; pigs,
12.00@14.25; bulk, 15.50@15.75. ]
Cattle—Receipts, 5,000; market weak:
beeves, 8.30@13.70; cows and heifers,
6.10911.65; stockers and feeders, 7.25@
10.40; calves, 9.00@15.50.
Sheep—Receipts 4,000; market weak:
native and Western, 9.76@13.40; lambs,
14.50@17.75. ’
ST. LOUIS, Jan. 26.—Cattle—Receipts
1,300, fncluding no Southerns; market
steady; native beef, 8.00@13.50; year-
Hns steers and heifers, 7.00@13.50; cows,
6.0 yll.EO: stockers and feeders, 6.00@
10.50: ealves, 6400%15.75; Texas steers,
9.00%’.75; prime Southern steers, 6.00
%’& i beef cows and heifers, 7.50@
Hogs—Redeipts, 8500: market, 30@45¢c
lower; mixed, 156.50@16.00; good, 15.80@
16.00; rough, 15.253%5.50; lights, 15.60@
%g:g, pigs, 13.00@14.75; bulk, 15.70@
Sheep—Receipts 150; market steady:
ewes, 11.50@12.00; chogpers and can
ners, 6.00@9.00; lambs, 14.00@17.55;
wethers, 11.50@13.95.
ey bbb i
FOREIGN EXCHANGE.
NEW YORK, Jan. 26.—Closing rates
of foreign exchange:
Francs: Demand, 5.72; cables, 5.70.
Guilders: Checks 43%: cables 44.
Idre: Checks 8473} cables 8.46%,
Rubles: Checks 13.00; cables 13.25.
¥
do. pref. . . [ [ !
arine. . . . . .| 24%| 841/( 24 244
TR i 5 mZ“ 9014 33&, i
Vitmomn™ a 8 i
SO L
%3?&. sé’eexd. 4 ' iy dnul ivn| 4y
National Conduit .
Natlonal Tomanst ) 43%| 122/21 i)
North Ameircan .| siial o £a 8
N. ¥. Central . .| 70%| 70 és%l és%
Nutlonal Lead”.""| 0| - 3] 8%
N..'and o .;103%3103% 1(8)?’%4‘12.;%%
Northern Pacific R] [ ?lgb‘
N. ¥, O. and W..] sl it saal 181,;
Nev. Con. CoEper‘] 18%’ 1 ‘11‘” .‘]2l,
N, Y. Airbrake. ) aaed il 56%‘ so%
Ohlo Cities Gas .| 36% /| 363/ %/ ®
Pitts.-W. Va. Coal| iaes | 6 “’ 2
gennlsy'lve(\}nl: S { 4 145 B
eople's RN G
P’ Breet Cor [ |oo woesl Bo%] ¢ ‘
do. pref. .. ! [bl
Pittsburg Coal , .1 ....| ceend .....I”%‘
Pullman Pal. Lar.’ soee] i hiagt i
Pullman Car . . .‘11.121,11,g i
Ray iConsoHdated.' é} % ;:,;4; 53'7; By
et NS Y.l o \' s {is b 8
g.e‘f(., :gd Sfteel i 752‘ | T 5%! &;I,‘_s
Be. bref. . aoal 00l B 8
Rockolsland - - 209 201 g({‘hv‘, 197
Ry. Steel Springs.! 51 A:)()‘ikil ng
Sears-Roebuck . .| ....| -ai) g&fi
Sloss-Sheffield . .l 325&‘ g.zli 8‘31,9 e
Southern Pacific .| 8..14' 23‘/3; N
Southern }}axlway.' ggé &"f 4
6. pref. ...| 58 | § : FE
Studdobn.kerr soinan ok GK 1 ;y()l,f.i 503{;i g‘;z
el . . . “tags et il g S 3
§. L and 8. W. | 0 ou| 165
Sinclair ofl . . . .| 33 | 32% | 3%‘ 3; .
SRR i S 18 164
- N SRR S LR
Supe S 00l wdirliasis i%) & -
5 oducts . .| 54| B 4 | 541| 54
;:En.PEopper <l 15:2} 15%/ 15&! 1
NG BYenOe . )il TR s
Texas OF . . [jlßo° 148" |ugd [l;;}2
t‘f:& 7w Lec BRI L
{‘:nzn Pacilnc.' & .114»;;113;4;13[(4)5‘(1;73\‘
o, pref. . . .| ... .. .|
U. 8 R\?bber s o o]+ B 8 | 552‘5‘ gg*; ggkz
U, 0 Bteel . . . - 915, 93.;110 4]
| do. pref. . . .'llO ‘l}‘ igl 8¢
R, )(I}lsar S:‘ore! “ gé ré{%-! 82 “&‘.
J! or - iR ‘ 5
)"\?t:-c. ‘Chemicai .| 40%) 401 o) 10
Wabash .. . el (1 el |
| do. pref. A-"i TReil inad s
do. pref. “B B ethel bhonb il i.i
Western lA\'min‘-‘lsmdi sabal wei .g{ ?
Btn Union . | ....0 .. 00 | 89
gvV?ll.t{s-O;':rland - 1.%? 17 }l}l%'ll6
wor Eo= a9} 2oßs] saed !
| Westlngn ouse. BRTUHET !l_m s
Shi Motors' . ] ..o E N 3
Wilson Pack. ctoL ‘sam_s:;g:::
“Total sales o stoc!
!;g«‘v shares; mm.."?:.m.o’oflfi Saih
Total sales of stocks for é:‘dg(m
were 2,112,000 shares; bonds. 024,000,
O—— ”
'
Bad Weather Responsible for Buy
ing—~Corn Easier—Farmers
Offering More Liberally.
By JOSEPH F. PRITCHARD.
CHICAGO, Jan. 26.—Fluctuations
in corn futures today were narrow
and final prices showed small change
as compared with the previous close.
There was nothing in the news to
materially influence, prices though it
was reported that farmers are more
'disposed to sell the grain and with a
'larger supply of transportation facili
tics available a freer movement is ex
‘p(-vted. Cash corn was strong and
unchanged.
- Oats closed at a net advance of 5-8
to 1 1-4 c. Most of this strength was
a reflection of the storm which was
raging in the West Friday night and
| today and the promise of lower tem
peratures possibly to the middle of
the coming week. Shorts bought
freely in order to even up their posi
tions before prices were forced to
higher levels and in addition to this
buying considerable oats were taken
by investors.
More cash oatg are wanted to take
care of orders unfilled by exporters
and there must be some accumulation
in the various positions to prevent
gshorts from becoming alarmed and
[biddlng the price still higher. It is
generally believed that the longs are
headed by a coterie of Eastern spec
ulators who are known as exporters.
There were smail advances in the
market for hog products and this too
in the face of sharply lower prices at\‘
the yards for hogs. The decline on
the hoof today brought the price
‘down around the minimum of $15.50
'set by the food administration. There
‘was no pressure on products and a
very modest demand served to ad
vance prlces.txasily,
Grain quotations:
Previous
High. Low. Close. Close.
CORN—
March... 1.26% 1.26% 1.26% 1.265
May.... 1.26% 1.26 1.25% 1.25%
OATS—
BRI 8814 833 831%
March... 83% 823 g 8314 82
May..... 8014 9% 793, 7915
PORK—
TR . < tasa 47.25 47.12%
May.... 46.20 45.87% 46.15 45.82%
LARD— :
Jan.... 24.75 24.65 24.75 24.57 T%
May...®2 25.00 24.82% 25.02% 24.82%]
RIBS-—
Jan.... 23.80 23.16 23.80 23.65
May.... 24.45 24.22 Y% 24.42% 24.25 |
THOMSON-McKINNON ON GRAIN.
CHICAGO, Jan. 26.—Corn—Decided
lack of interest continues to be a fea
ture in thfi market. Values were only
slightly affected hy strength in oats,
together with highly unfavorable move
ment. Eastern congestion was reported
clearing up, one Western road claim
ing to have received more empty cars
in 24 hours than for the entire week.
Those who have been in the West say
that sidetracks are well filled with load
ed cars awaiting movement.
Oats—Heavy snows and severe ten
peratures in extreme West and headed
this w,y gave oats market a new im
petus. / Transactions seemed largely in
the way of an adjustment of former po
sitions. Fastern houses were buyers
from time to time, but nothing has been
said of new export business. In fact,
no bids were in the cash market and
no requests for offers. The country is
not disposed to press its holdings for
sale’ bids at 80 cents meeting very poor
response, although it had been thought
that thi& price at country stations
would meet good acceptance. The tem
per of the market is such that contin
uation of the present rough weather
would probably bring high prices, but
it seems to us that as the export de
mand 1s not following these extreme
prices the advance has gone far
enough for the time being. o~
JACKSONVILLE LIVE STOCK.
JACKSONVILLE, FLA. Jan. 26—
Hogs—Receipts medium; prospects
steady; heavy choice, 14.20@14.50;
heavy rough, 13.85@14.15; mixed, 13.75
@14.00; %fits. 13.00@13.25; heavy pigs,
12.75?13. ; lght pigs, 9.00@9.50.
. Fed Cattle—Receipts light; prospects
higher: steers, 7.00&11.00; light steers,
5.15@7.10; bulls §60G7.00] heretios, 5.00
@5.50; cows, b.50@7.00; canners, 4.7§
up. .
CHICAGO CASH QUOTATIONS.
CHJCAGO, Jan. 26.—Corn—No. §
mixed, 1.43; No, 4 yellow, 1.70; No. 6
miixed, 1.85@1.38; No. b yeilow, 1.45; No.
6 white, 1.44; No, 8 yellow, 1.35@1.40.
Oats—No. 2 white, 83% @8714; No. 8
white, 85% @B6; No. 4 white, 8514; stand
ard, $6@86%,
CHICAGO CAR LOTS. .
CHICAGO, Jan. 26.—Following are re
ceipts for Saturday:
REBOAE o) ld vkt e e 3
WP O shact ol ekt 98
DAt S Wie fes i e vl asvrr il
BOWN 5. T 8w et i 3, 000
] COTTON SEED OfL.
Cotton seed oil quotations:
- $ Ogeningu !.Cloaln!.
BPOE s Uil atsiie. 1Y
January ... ... ..}20.30@21.00,20.50
February ... ...[120.80 120.50
March ... ... ...120.45@20.586|20. 50
April ... ... .. ..!20.40@20.50|20.50
MBV a 0 dais ) 08040 120.50
+ Closed steady; sales, 500 barrels.
NEW YORK COFFEE MARKET.
Coffee quotations:
| Opening. | Closing.
Jenualry . ...l 8.6098.60
February ... ..|....Je.-c..) 8.60@8.66
Mareh . ..o 486 [ 8.84@8.85
MDREE . o den G feiag vt BSR 9
May .., ..: .. 8.950@8.92 ! 9.07@9.09
June ... ... ..| 5.60@9.05 9.1989_20
TSIy Lo L 9.30@9.31
August ... ..110.i.. ] 9.3909.40
September .. .. 9.38@9.39 | 9.49@9.50
OEtober ...\ ... il LT
Novembetr .. ..1......0L....; 6209.63
December .. ..l 850 | 9.68@5.69
. 07
Cotton Seed Meal--Fertilizer Materials--Cotton Seed Hulls
ST 9UOB MEal-T i UNIOr matoriais--votion secd Hulis
Prompt, EXPERT attention to all INQUIRIES and ORDERS.
Anry DELIVERIES obtainable and PERMISSIBLE.
Shipments ANYWHERE in any CARLOT quantities.
/‘(P‘j"-’
N 5
e 5
= A
TAYLOR COMMISSION Co.
Healey Bldg., Atlanta, Ga.
U. S. Food Ad ministration
License No. G-02701.
Codes® Yopp's & Rebinson's
No Storage Stock on Market.
. '
McMillan Predicts One Dol
lar Per Dozen.
Fresh country eggs jumped 3 cents
a dozen Saturday to the highest price
ever known—7o to 75 cents a dozen.
No _cold storage eggs were reported
on tflg market,
Receipts of fresh eggs were ex
tremely small and readily s¢ld to ho
tels, restaurants, clubs and mer
chants,
“It looks like eggs—fresh country—
will go to a dollar a dozen,” com
mented W, V. McMillan, of the Meo-
Millan Produce Company. With an
other bad spell of weather predicted
and no improvement in the railroad
congestion, I see little chance of re
ceipts increasing. 1 was unable to
locate a single case of cold storage
eggs Saturday.”
Business on the row was dull, with
arrivals late,
McCulloufh has a car of Florlda
gmnges rolling—due to arrive Mon
ay.
Fidelity has several cars of Cana
dian turnips several weeks overdue.
C. J. Balsden received two cars of
Georgla sweet potatoes, making seven
cars this firm received this week—
probably the largest number of cars
handled by any one firm on record in
Atlanta durlng a weeks’ time.
All produce houses will close Mon
day at noon in accordance with the
order issuéd by Fuel Administrator,
' .
Rail Earnings Grow
Despite Storm Del
Gross earnings of the United States
railroads maling weekly statements ufn
reflect the adverse traffic conditions
arising from inclement weather in many
Sections. The total of all roads that
have so far reported for sha first week
in January amount to $5,335,828, an 1:\-
crease as compared with the ecor
responding week & year ago of only 1.1
per. cent.
This lis the mo,lt indifferent ocom
parison made bx these roads for many
weeks, but aslde from the difficulties
‘with which many systems have had to
contend with in the way of snows and
storms, allowance should be made for
‘the fact that earnings at this time last
year were far the largest ever recorded
for this perfod up to that time.
Qulte a number of lines report fall
ing off. as compared with last dyea.r,
‘but these losses are more than made up
by the substantial gains that continue
‘to appear on Texas and Pacific, Mis
souri, Kansas and Texas, Southern and
a few other roads.
~ In the following table are given the
gross earnings of all United States rail
roads reporting to date for the first
week in January, and the gain as com
pared with the earnings of the same
roads for the cor";sspondin%l period a
year ago; also for the roads that report
ed for the sama week in the two im
mediately preceding months, together
‘with the percentage of gain over last
year:
| 1918, Pot.
Jan., 1 week .....$5,355,8%2 Gain.... 1.1
Dec., 1 week ..,.. 8,831,227 Gain.... 6.9
’Nov.'l week ..... 7,472,085 Ga1n....8.1
Sugar Crop Estimate
Setat 5,915,000 Tons
The following flgures give the sugar
crop in the Western hemisphere:
1917-18.
Tons.
U. S.—~Louisiana, Oect.-Jan..... 276,000
TORas, CCC-TRI. .. 0. isevay 2,000
Porto Rico, Jan.-June........ 475,000
Hawaiijan Islands, Nov.-July. 525,000
W. Indies-St. Crofx, Jan.-June _15.000
SBan Domingo, Jan.-June........ 145,000
Cuba, Deb.-June ...............3,200,000
B. West Indies—Trinidad, Jan.-
CRRRA Ll il At 10000
?arb?doea, expts., /JJan.-June. 55,000
amaica, expts. Jan.-June.... 30,000
Other B. W. Indles, Jan.-June 85,000
P ttinius, eepth, Jan-Mdly. 40,000
artinique, expts. an.- Y. )
Guadelope, Jan.-Ju1y......... 40,000
Mexico, Dec.-June.............. 35,000
Central America, Jan.-June.... 25000
South Amerfca—
Demerars, expts., Oet.-Deoc.
and May-June ............. 120,000
Surinam, ' Oct.-JaN.:.cciveeeees 15,000
Venezueld, Oct.-De0........... 15,000
Ecuador, Oct.-Feb, .....cease _ 8,000
Peru, ?Ct'-gd" L teeeneds %g(s)'?)gg
Argentine, June-Nov. ........ s
Brazil, Oct.-Feb. ....cecoe.... 375,000
WO 0o disinas chie 5,915,000
Stutz Motor Co.
Earns 14.33 P. C.
Stutz Motor Company earnings in 1917
were e%ull to $14.33 a share, the net
rofits belng $1,074,778, againts $381,016
Pn the last seven months of 1918. No
deduction has been made for war taxes.
The company groduced 2,207 cars in
1917, a%mt 1,635 in 1916, and 1,079 in
1915 @ entire output for 1918 has
been sold,
' People with land-own
! ing ambitions! Read The
; Georgian and American’s
{ “Farm Land” columns.
: The best located farms of
; the South are offered for
. sale here. |
| The Georgian - American
! Atlanta’s Want Ad Directory
» Read for Profit-—-Use for Results
YTb\\
o 2 o;s\\
u 2
ACES
%a“ S
A
Refs: The Mercantile Agenoies