Newspaper Page Text
4B
THE SUNDAY AMERICAN'S FINANCIAL AND COMMERCIAL PAGE
Price Fixing Talk, Transportation Conditions
and Fuel Holidays Helpful to Bears—Prices
Off 88 to 102 Points—No Legislation Seen.
Cotton bulls hacked away from the
market ast week and allowed the
bears to hammer prices down mate
rially,
SBaturday's closing quotations in
New York showed futures 82 to 98
points below the previous Saturday’s
close, while the list in New Orleans
cisplayed a loss of 88 to 102 points,
Spot holders were indifferent, with
offerings light. Advices from the helt
state that the position of the actual Is
“*es strong as ever, with holders inde
* pendent and confidently antieipating
. higher prices
. Reports that th¢ President had
+ asked for blanket authority to fix
prices of commodities essentinl to
prosecution of the war, together with
continued talk of curtailment in con
sumption and the unfavorable trans
portation situation, furnished the
prinelpal incentives for the attack on
the market,
Selling Liberal 01l Week.
Selling was more or less liberal all
weel, coming chiefly from specula
fi}g sources, conalsting of liguidation
of long lines and short melling. The
West was credited with getting out
of cotton bought early In the week,
The South, Wall Street and commis
sion houses figured prominently on
the selling side,
? Trade houses, spot firms and Liver
pool contributed the bulk of buying
orders. However, the old bull erowd
held back, with the result that values
were depressed without much resist
ance,
While peace prospects looked
' brighter than for some time, early
in the week, the speech of the Ger
wman Chancellor diminished the feel
o ing considerably that the war will
end this year. Tha report of a revolt
in Austria was helpful to the bulls,
but after the German C'hancellor's ad
dress peace talk grew less and buy
- ors backed away from the market. |
Mill Takinas Fall Off.
“ The bears also used smaller mill
_ takings and exports to sell the mar
ket on. Exports last week were 50, -
- 692 bales, against 162,047 the same
© week last year, Exports so far this
~ meason total 2,613,861 bales, or more
than 1,000,000 bales less than the pre
~ vious corresponding period--8,674,209,
. Spinners’ takings for the week weres
.. materially off from the same week
-~ last year, being attributed partly to
~ the five.day shutdown and unfavor
~ mble transportation conditions, which
48 Paving considerable effect on the
Northern mlils, who are experiencing
- much difficulty In getting from South
~_ern points. Ml takings for the week
_amounted to 251,000 bales, against
~ 866,000 the same period in 1917, To
_ tal takings since August 1, 1917,
~ mmount to 6832,000 bales, compared
% *.‘v“lth 8,027,000 the period correspond
£ La
~ Bouthern consumption last week
. totaled 90,000 bales, against 126,000 a
__Year ago.
; The effect of the extremely bad
“ weather and rallroad congestion on
:i:umon is evidenced by the overland
~ movement last week, which totaled
L only 1664 hales, agalnst 28518 the
4 Same week las! year. So far this sea
~ #on the movement totals 911,172 bales, |
Semgainst 1.072,001, 1
% No Price Fixing Seen. l
" That thare Is no danger of the price
Week’s Financial Summary
Following is a brief day.to-day sum.
mary of the most essentlal flnlnclll‘
naws made public last week: 4
; MONDAY, JANUARY 21. |
Atlanta Commercial Exchange, .\'r\\l
#York and New Oricans cotton exchanges
aln. the Metal Market were closed--in
i ('o-ogfirnliun with fuel administration at
#'Washington.
Atlanta bank clearings $10,636,985 !»4.‘
last year. $4,700 220 66, |
New York Stock Exchange closed
#Bteady. Under the leadership of copper
Band 01l shaves. all lssues scored sharp |
gains, with Texas Oil showing the
Ereatest strength, Trading was Ilgln.;
S owing to cold and absence of lghts,
heat and other n(swrm\n. facilities. Op.
s erators used candles at wires to receive
sand send messages. ‘
% Chicago grains closed -ll.htlf- higher
_Trading was light and featureless. Big
S revelpts of corn and hogs caused early
ne.
% mot‘d that copper prices will be
*)‘l to 20e. i
~ __Greatest snowstor! in recent years in
e rm Texas, Heavy snow drifts
o ed trains in all directions,
- __ln the year ended December 31, 1917
. the National Biscuit Company reported
~ 3987 a share earnsd on itsa common
. stock, compared with $8.73 a share in
th: fiscal t:u‘ ended January 31, 1817
t ’&ul n made by the Ohio Citles
Gas Company to the New York Stock
% lmln‘ committee to list §l,-
S additional common stock.
= mercial fallures last week in the
© United States, as reported by R. G. Dun
" & Co, were 287, against 285 the pre
* wious Wweek, 218 the procodlnr week and
' 858 the corresponding week last vear.
% TUESDAY, JANUARY 22
Atlanta spot cotton declined 48 points
10 31.80
Atianta bank clearings, $6,422,°5).31;
. lyst year, $4.278.690.46.
. New York cotton declined 43 to 68
. points during the forenoon on active
* welling, due to price-fixing rumors. At
. poon all wire communication to South
© was cul off, owing to sleet.
~ New York stock market was active,
! Uut'sfiee movement was narrow at the
© opening. Later all active issues moved
~up on modemte buying. Wire trouble
% mfld Afternoon movement of the
B from being received here.
' Chicasv grains wre fractionally lower,
Yowing to light demand and heavy re
n“&.‘,
* ng to demoralized \oucr:rhlc
service-—-North and South—due to sleet,
-‘;l market quotations were delayed.
w quotations were published here.
e Buckeve Pipe Line Company de
«!ared the regular ?utflnly dividend ot
$. and an extra dividend—amount not
given in wire report,
Dr. Garfleld sald his four days' sus
pension of tusiness has brought more
conl to the East than it has had in
weeks, but New York State fuel admin
or sald famine in New York has
been relieved.
By VICTOR BARRON
’
Changes Idle Monday
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 Sugar and New
York Produce Exhange will be
colsed or not.
fixing bill becoming a law 1s evi
denced by the following from Thurs
day's New York Commercial:
In important trade circles little
importance is attached to talk of
a fixed price for cotton, It {8 un
derstood that Southern Congress
men would line up solidly against
legislation on the theory that [t
would cheek the disposition ‘now
noticeable to enlarge cotton acre
age. The opinion is expressed
that, even If a price Is fixed on
cotton, 1t 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 recelved 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 from Washington
that there will be no price fixing
on cotton by the President, even
if gilven the power. Also, that
present prices fixed on wheat,
coal, etc, will be modified fur
ther. That from an economle
standpoint consider law govern
ing the fixing of prices of cotton
as anything but an economic
measure, and should be discour
aged In every way possible, espe
clally at this time; in fact, farm
ers should be encouraged to ralse
large crops.”
Albert C. Rucker, of New York,
comments as follows with regard to
Government price fixing:
If any price fixing on cotton
should be serlously contemplated,
which is doubted by the trade at
large, such action will hardly take
place at this time of crop prep
arations 8o as not to encourage
any reductton in acreage unless a
price well above recent high lev
els for spot cotton should be de
cided upon. Moreover, due con
gideration by the thinking world
should be given the fact that no
arbltrary price AXing can ever oc
cur such as would heneflt one side
to the detriment of the other, but
that actual commercial conditions
must form the basis for price
regulaticns,
By STOXAN BONS.
WEDNESDAY, JANUARY 23. |
Atlanta spot cotton declined 15 points
to 31.65¢.
Atlanta bank clearings $9,893,733.20;
last year, $4,306,219 28,
New York cotton closed 3 to lsdpolntl
lower. After scoring a sharp advance
during the late forenoon, the market
broke on renewed selling and absence
of strong demand. ‘
New York Stock Exehange cloged
weak Specialties were strong and |
higher early in the day, but duripg the
rh\sln{ hour they slumped materialiy,
with United Clgar Stores falling from
99 to M.
Chlcago grains closed with gains of
more than a cent.
Regular dividend declared on Penn
sylvania, Norfolk and Western and Con
solldated Gas.
New Orleans Cotton Exchange voted
to clos# on all heatless Mondays.
President Wilson extended until June
prices of 23'%¢c for copper fixed for Sep
tember 21,
Sears. Roebuck & Co.'s surplus for
1917, after deducting excess profits tax
and {\rerarrm dividends, was estimated
at § 3.0’0‘000 equal to $18.25 a share
on the $75,000000 common stock, ac
cording to Wall street reports. § e
THURSDAY, JANUARY 24. =
Atlanta spot cotton advanced 35 polnt
to 32 cents. g 3
Atlanta bank clearings, $8.774,738,63;
last vear, $4,033.529.66 X
New York Stock Exchange closed
strong. Strong demand caused \‘izr-'
ous gains throughout the list.
New York cotton closed 26 to 38 points
higher, due to active buying by lrol‘
houses and trade interests. The buying
was stimulated by news of a revolt in .
Vienna and that the ;lmce-nxlng bill
has been held up indefinitely. |
Chicago grains closed slightly higher.
Seaboard houses were strong buyers of
oats early in the day, with the result
that January rose to a new high reeord
of 82 cents.
Usual dividend declared on Greene-
Cananea—32 per cent quarterly.
‘ Gaston, Willlams & \v\'rlfnmn de
c}ur':d the regular quarterly dividend
o .
Columbia Gas (‘on‘\su\y declared the
lar quarterly dividend of 1| per cent.
T retned Stesl Car Company, deciaped
the quarterly dividend of $1.75 on the
common stock. and the regular quarter-
Iy dividend of $1.75 on the preferred
stock.
The New York Stock and Coffee Ex
changes voted (0 close on coalless Mon
days.
u ‘ngrfl Electric Company's profit and
loss account for nine months ended
tember 30, 1817, showed balance of
7.776.950. equal to $27.3¢ a share on
101,512.500 capita! stock outstanding.
FRIDAY, JANUARY 25
Alh.r‘u spot cotton declined 20 points
to 31.80
Atlanta b‘:‘:g, :l:;‘r‘!nrs, $8,479.025.70;
last vear, L 876.31.
New York cotton market closed 31 to
l_ll‘].\KS'lj'S SUNDAY AMERICAN A Newgpangr for Peon]e Who Think — Sl'NleY, JANUARY 27, 1918.
- f
All Business
Here Is Active,
Bradstreet Says |
OLLOWING shows Brad
,F street’s summary of Iocal;
¢ business conditions here for ¢
;tho week ended Friday, January §
! 26: ?
% Trade at wholesale and re- !
! tail good. Manufacturing in
| dustry active. Jobbers and !
| manufacturers report active g
? demand for goods, ¢
{ Deliveries necessarily de- ?
| layed by enforced inaction, (
! freight congestion and bad
| weather conditions. {
3 Retail business has suffered
y {
from same causes, though ¢
! where weather permitted sales ;
have been active. Altogether
é for reasons above stated re. ¢
g sults have not been satisfac- $
tory. Collections are good.
é The fuel situation is gradu
( ally improving, though manu
. facturers dependent on coal
are nil' badly handicapped. !
Week’s Range
In Cotton
Following shows the nighest and low
est prices of active cotton options on
the new York and New Orleans Cotton
Exchanges last week, tomflhcr with
Baturday’'s close and net changes from
Friday's close; also below net changes
for week: FGMI . S
' NEW YORK. ST
| ; | Sat. |Net
|High.| Low.] Close. |C'se
January . . . .|031.35/130.88]........]....
March . . . . .|031.03 %*30.15 30.31.36|—14
WY « ovow I .60 *29.65 29.83-85 —lB
July, . . . . ./180.27!%29.30| 29.47-49 —l7
October. . . .|128.88/+28.04| 28.14.15 —l3
NEW ORLEANSES.
] | Bat. [Net
High.! Low.| Close. (C'se
January. . .1-50.68(320.68].. ... ..[....
March. . . . .nzuoflm.m a.oavoo‘—u
May. . . . . .|129.60/%28.60 28.71-76—17
July. . . . ~. 120.32/%28.31 28.42.46 —lB
Ottober. . . '.|129.70+27.02| 27.16-17|—11
F’Tuuday; {Wednesday; -Thursday;
oFriday; *Saturday.
Net changes for week:
NOW YOI 2 caan oo o 4 ss7iey —o2’ 98
New Orleans.. .. .. .. ++ .. ..—BB@lo2
A A A AAN I
. . .
Fertilizer Materials |
A A A A AANA AN ANAA AN AR ANANNNPPAAAAIS
| Corrected by HARRY COHEN,
United States Food Administration Ll
cense No. G-27360.
Nitrate of soda, 96 per cent, ex ves
sel, 100 pounds, “.WJQ.“; futures, 100
pounds, $4.0064.45.
Sulphate of ammonia, bulk, f. 0. b.
Baltimore, 100 pounds, $7.00@7.25; sul
gmne of ammonia, bulk, f. 0. b, New
ork, 100 pounds, "LnOOOT.u.
Blood, c. a. f. At ta, bulk, per unit
ammonia, §7.15; tankafle, f. 0. b. Chica
fo, bulk, rer unit ammonia, $6.26@6.35:
ankage, f. 0. b. New York, bulk, per
unit, ammonia, $6.45@6.50.
Nebraska potash, c. a. f. Atlanta, per
unit potagh, $5.45. |
Camp Gordon manure, f. 0. b. Atlanta,
per ton, nominal.
Acid pho.ghuu-. c. & f Atlanta, bulk,
per ton, sls.
Tobacco stems, c. a. f. Atlanta, per
unit potash, $6; tobacco stems, c. a. f.
Atlanta per unit, ammonia, 356.40.
”:uw bone meal, f. 0. b. Philadeiphla,
Bags, o. a. f. Atlanta, per 1,000, $320.
Armour Eranings
20 P. C. on Stock
CHICAGO, Jan. 26.—Armour & Com
{uny‘l business in the United States In
917 amounted to $575,000.000, on which
a net profit of $21,000,000 was earned,
lncordlns to the firm's financlal report
Just made publie., The firm's bull-‘
ness in products originating in this
country-—sold both here and abroad-—
was $50.000.000 greater than the world
business of the firm in 1916,
Net income was equivalent to 14.5 per
cent on invested CIK“II. or 2 ger cent
on the (-n¥|t|l stock. The profit from
the sale of meat and other food prod
ucts amounted to 2.21 cents on each dol
lar of sales.
In 1916, Armour’'s total profits were
$20,100,000—14.7 per cent on Investment
and 20 per cent on capital stock.
RAILROAD EARNINGS.
Reports for November from 183 rail
roads in th‘::nl"st’x;t;bi_ States show in the
nggregate ,607 net after taxes, a
decrease of $29,2%4 922,
—_—— s
42 points lower. Active selling and llfht
demand, due to unfavorable political
news, bearish spinners’ u.klsxn and |
transportation ,conditions, caused the
slump.
New York Stock Exchange closed ir
rofulu'. Rallway issues score vigorous
gains during the afternoon, while steels
and other issues drgg»ped.
~ Chicago corn clos lower and oats
‘higher. Commission houses were tho‘
leading buyers.
~_Directors of the Chicago Board of
Trade voted that trading in corn for
January delivery be discontinued.
American lce Compun{ reported to
‘have harvested so far this vear 100,000
tons of natural ice, more than was har
vested during the entire season a yec.r‘
ARO. § ‘
. American Woolen Company during
‘the last year made larger earnings, it
‘was reported, than in ar_nllhothor year of
'its business career. e company's
‘Government contracts amounted to
§100,000,000.
Value of the automobile tires to be
manufactured in the United m&u dur
ing 1918 expected to exceed $500,000,000.
SATURDAY, JANUARY 26.
Allucmn spot cotton declined 20 points
to 31.60.
Atlanta bank clearings, $6,886,008.41;
last year, ‘1.825.100.“. For week, $51,~
013,846.79; last {au-, $24,353,382.35.
New York cotton closed 7 to 17 points
lower. Week-end liquidation caused the
decline. Short covering and buying by
trade houses was the sustaining factor
early in the day.
New York Stock Exchange closed ir
nglur. Steel issues wore in demand.
jougo grains closed higher, with
oats most prominent.
Provisions closed higher.
Standard Of] of Kansas declared the
regular qumefl]y dividend of $3 a share
“’b:: extra dividend of $3.
controlier of Great Britain told
Hoover that Allles must have 75,000,000
bushels of wheat to insure victory.
Reported that pnaidol‘ and vice presi
dent of Denver and Rio Grande will be
named receivers of the road.
Court granted permission to Equita
ble Trust Company, which holds judr
ment of $33.600.000, 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 tone
of the market was weaker although
toward the end there was a rally from
the bottom,
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, attention 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 § 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 a whole was not
active, By 11:30 o'clock the list
showed a ne¢ loss of 12 to 15 points,
The market turned weak in the late
morning with offerings increasing in
volume and stop loss orders werk 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 un
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 2,936,
Savannah 952, Norfolk 356 and Hous
ton 5,247.
NEW YORK COTTON FUTURES.
! ¥
3 -l .-’l ¢, »
1§ 18] ssl |3B
o 2 2 ReS
T O S AR RIR R R
Mh ‘30.40,00 50/30.15/30.21/20.31-35 30.45-47
Ap .'&001 “30.05 |
My ".'9.'0"80.08'1915‘29.85!29]8-85}29."-30
I 8 Lieasdicod il 0N o lENTY
Jy “29.72“29.'.'2,29.30‘29,47}9.47-49}29.04-6!
Ag [oooal.ontliinn]. . 0.129.32-33/29.39
Oc |28.30/29.6/28.04/28,15(28.14-15/28.27-28
De |28.12/28.12/28.12128.1227.90-93 28.04-06
Closed firm. -
NEW ORLEANS COTTON FUTURES,
| .9
| 8 | ®© I »
ey yl i
Lo K T | koo
Fb ",'zux 29.85
Mh |29.2629.32/29.08|29.06|29.03-05/29.17-19
Ap ....,|..........1.....\z0.0a-oqzo.n-w
My ]2!.96 29.98/28.60 28.75/28.71-76/28.88-91
Jo Lovoalsiinillyoiles. s 88:71-16(88.88
Jy |28.55/28.68 28.3128.46 28.42-4828.60-65
Oc 27.25')’!.36,27.02‘27.15{27.16»17‘2‘.26-21
Do f.ooeedensiidenesie....|27.oo-08{27.10
Closed steady.
SPOT COTTON,
Atlanta Commercial Exchange quotes
golod middling, firm, 31.60; sales 650
ales,
Atllnfa Warehouse Company quotes
good middling, 31 ~
leer(;ool. mlddlfnz. 23.894,
New York, middling, 31.60.
New Orleans, firm, 30.87; sales 865
bales.
Charleston, middling, 3lc.
Wilmington, mlddlln:. 3014,
Galveston, qulet; middling 31.10; sales
74 bales.
Savannah, nomal: middling 81%.
Auguseta, steady; middling 21c: sales
1,120 bales.
Philadelphia, quiet; middling 32c.
Boston, quiet; middiing 31.80.
Norfolk, steady; middling 20.28.
Little Rock, steady: middling 3ic;
sales 640 bales.
Bt. Louis, steady: mfiddling 3114.
Montgomery, qulet; mlddll;\g 31y,
Dallas, firm; mlddllnfi 30.40. ¢
Houston, steady; middling 30.80; sales
146 bales.
Mobile, nominal: middling 30.88.
Memphis, steady; middling 31 ; sales
1,600 bales.
COTTON'PORT RECEIPTS.
The following table shows receipts at
the ports today compared with the same
day last year:
T I I
e Sl
ew Orleans . . 5,963 l 867
Galveston . . . .| 5,668 6,617
M oo o 0 B
Savannah . . . . . 952 { 869
Charleston , ~ . [ 230 | 5
Wilmington ~.| 100 41 ‘
B eik 350 | 896 |
TP oi) ek s 64 ‘
New York. . . 200
I 5 e e s e 704
Phlladelfhla el s Wil 167
BRRRROBI: " & <\ o o] v ivnan ] 526
o RN l!,flt_l 10,977
INTERIOR MOVEMENT. ‘
. R L (e
Houston . . ~| 5,447 | 4,456
Augusta . . . . .| 767 | 883
Memphis . . . ./ 2,384 3,009
oy ol i . G 6,336 883
Cineinnatt . , ..} 530 | 208
Little Rock. , . .| 634 | ll?__
RN Vs L I 9,907
oA e
ATLANTA COTTON SEED PRODUCTS
Crude’ 011, basis prime--January and
February, 1.81,
Cotton seed, 7 per cent ammonia—
January an¢ February, 47.50@48.50.
Cotton seed meal, 7T per cent, Georgia
common rate point—January and Feb
ruary, 47.50@48.50.
Cotton seed hulls, sacked—January
and February, 22.50@23.50.
Cotton seed hulls, loose-—January and
February, 19.00@20.00.
Linters, clean mill run—January and
February, 4% @s%c.
NEW YORK CURB STOCKS.
NEW YORK, Jan. 26.— I‘rafllng on the
curb today was of the usual short ses
sion character, dull and mixed as to
rflce movements. Chevrolet Motor ear
y scored an advance of about 2 points,
but this was all lost near the close.
Olfl stocks were active, but declined
near the close. .\!lnlnf stocks were
fairly active and without material
change in price. Quotations:
Sales. Stocks. Close.
SL.o iy R e sTR 7%
2,000 Chevrolet.. .. .. .. ..110 112
700 United S. Steamship.. 4& 4&
700 Asnglo-‘-\merlcan Akna 13%
SNO Comden O .. i o 1o ¥ T
1,000 Federal Oil .. .. .. .. 34 @ g",'i
200 Inter. Petroleum ~ .. 134, @ 13%
‘1.500 Metropolitan Petroleum 7-16@ 14
5,000 Midwest Oil .. .. .. .. 118 118
2,000 Oklahoma Oil .. .. .. .. 3% 4
500 Oklahoma P. and R. .. 7 Y%
BTR b S an vOB 371
1,600 Big W{'-- voo owe I EPIB-1
2,000 Jome erde .. i +.ll-16@ %
SOO M rragh .. .. .. 56 @6O
1,000 Mother lode .. .. .. 25 27
IR, Dk o lin e o ok au il 10
2,000 Success .. .. .. .. .. .. 8% '.'z’
1,000 Tonopah Extension .. .. I%@ 1
MONEY AND EXCHANGE.
NEW YORK, Jan. 26.—Money on call
thlnt week ruled between 6 and 2 per
cent.
Time money was a scarce commodity
Rates on_ industrial collateral were
g)oted at 6 per cent, with 5% per cent
r mixed collateral.
- Mercantile paper was quiet during the
rnx Rates, fi: to 5% per cent.
Covering Over Holidays and Buy
ing for Long Account Gives
List Boost.
By BROADAN WALL.
NEW YORK. Jan. 26.-—Stocks
closed strong both on the exchange
and the curb, with the motor shares
in leadership. Both [isheries 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.
Official announcement was made of
the purchase by the Tobacco Products
Company of. the Falk Tobacco Com
pany. The deal was made without
borrowing money, . payment being
partly in cash and phrtly in preferred
stock of the Teobacco 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 exchange was not af
fected by the deal. \
The advance in Hide and Leather
preferred was due to employment of
H. W. Coverdale, the engineer whe
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 dividend rates. No
change from the present rates is ex
pected by bankers, who base 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 companles 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
hem. That company is also prepared
to participate to the fullest extent in
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
glven.
Denver preferred was weak on an
nouncement that a recdiver had final
ly been appointed for the property.
Canadian Pacific was strong in ex
pectation in close relations with the
Dominion Government. A\l'l railroad
stocks showed the effect of the legis
lation now going through Congress in
their behalf. Copper stocks were
strong because of the splendid profits
guaranteed by the Government whep
it agreed not to reduce the price of 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 in
loans of $7£,963,000 and a decrease in
net demand deposits of $50,000. The!
average statement showed an in
crease in surplus reserves of 813.664.-l
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:
| | IClos. Prev
_BTOCKS— [High|Low./Bid.|Cl'se
Allis-Chalmers . } 1915 19 ] 19 ;18%
GO, prel. oot 1 T 8
American Zinc . . ....| ....| 14%| 144
Amer. Beet Sugar | 7’7'-?] T MUV
40, praf . ]k ifiine.] 8001 g
American Can ~ .| 371 36%, 36% 37
Q 0 pret . LlLdlalv k BEIAT BYE
Am. Car Fdy. . .| 71%! 71 | Tl%| 70%
Am. Cotton Ofl ./ 28 !28 |2B |2B
Am. Locomotive , b6l 56 | 56% 55:2
00, Brefy.t, Tiiuti. 1088 196
Amer. Smelting .| 83%| 83 | 82% o
WL RERE . ISR LIS I
A RO TR LN
Am. m;;ar Ref. .[lO5 (106 (105 1061,
Amer. T. and T. [/10414 10414|104% 1038
Amer. Woolen. . 4714 47% 47%| 47%
do, zref. e ot aianlTiae ) doad 923.;
Amer. Linseed . .| 82% 32:21 321% | 331
do, pref. . .| T4%!| T4%| T 4%! TB%
Atl G. and W. I .]102% 102% 10214/108
Amer. H. and L. .| 12 |l2 112 |l2
do.\gref. . .. 53%) 833 53% 53
Amer. Malt Corp. .| ....| ....] ....| 9%
Ba TR esk e] B
Amer. Tobacco . 160 (160141601 160
Am. Suma. Tob. .| 66 ] 66 | 66 [ 66
Amarican Ice . . ....|.... ... 11
I il g bovaz AT
Alaska Gold . . . 2&[ '.::z; 2!23 214
Anaconda . . ..| 61%] 6114 613 611
Atchison . . . .| 84% | 843 8433 83%
do, pret .. k vaniel ey s(U OREGT 8
B A U ANI s R SR
Baldwin Locomo. .| 61%| 50% 6114] 59%
SREEE e R 'so':‘ 507% 508
L ek R SRR
Bethlehem Steel .| ....| ....! 76 | 76
QRO P il oL
do, pref. . . .| 9813 981g| 9816 983
do, g. e WL 7630 Ten! T3] T 4%
BORT. ] 4 %) 48 |IY
Butte Superior . .| 187 187 187 18%
Cal. Petroleum . .' 15 18 | 16 | 153§
S 0 DL, L ol el s kel e
Canadian Pacific . HS;«: 1418 1142 141
COnol O . iSB ]BS 62%
o R S, Rito TTR
Colo. F. and 1. . .| 38 | 86 |35 ! 85
C., M. and St. P. .| 43%] 43 | 43% 423
80, WOBR i g Giil e L S TR
Chino_ Copper . .| 42%' 423 423 42ig
Consolidated Gas .| ....! ....! 87;. 8718
Corn Products . .| 38315 828 232%! 323
Crucible Steel . , BEY | Bdle| 561s| H4le
Cuban Cane Sugar! 317! 313 3133/ 31y
o DR L o] e et T
Cast Iron Plple 30l matshianset RIDE KON
Central Leather . . 6515 641 6435 6515
Chile Copper . .| 183;] 181§ 161,' 16%
Columbia Gas . .! ....| ....| 331 333
Cerro De Pasco . ‘ v 8 siR el BN
Continental Can .} ....] ....1 ....! 86
‘Del. and Hudson | 110 /109% 110 'lO9
Distil. Securitles .| 384 371 374 37
v ] ‘l4 | 1430 1414
- do, Ist pref. .| 24| 24 | 24%| 243
‘ do.!d{)ref..‘h.,.!‘.‘.. SN
General FElectric ..1”&_130 1130 131
'Geenral Motors .'llß% 116% (117 118
00 PRI - a 0 ]O%
‘Goodrich Rubber | 5 |3% 43 4314
‘G. Northern, 8!(1. | 88%| 883, 883 801 y
G. Northern Ore .| 273, 26% 263% 29
Great Western & .| ....| ....| ....] 8%
QU PR " bGE L G 190
Gulf States Steel .| 1| 11| 871 86
Illinois Central .| 95 |BS |95 | 94
Insp. Copper . .| 45% 45 @ 456% 44%
Interboro . . . .| ...1....| T%| 7
do, pret. . L iIV I «gadl a 8
Indus. Alcohol . .‘1189.‘118'(;115‘.'119
Inter. Nickel . ./ 20 | 28% 29 | 38y
Inter. Paper . . .| 27! 273 27y 27y
K. C., Southerm .17 17 "17“' 17
o oL g e
A o )t e R
&et s . *St i 3 73
Kennecott . . . . 32"2 32! 32%| 32
Lack. Steel . . . .| 75%! 75% ! 754! 7575
aNigh Yalley . i ... .l 0810
Liberty Bonds 315598 04 98 04 98 . 04. . ...
do. d4s. . . . .|96.2496.24/96.24 . ...
Loand N. . . . . .[113%/1133,/113% 113
Maxwell Motors .| 27 |2B |26 | 26%
do. lat pref. .| ....| ;...| 7% 6%
gn. Pacific (new).| 221’ 22 | 224! fl&
eXx. Petroleum .| 91 lam»a;u
) 5
'Atlanta Bank ;
) el {
. Clearings for ‘
¢ y ¢
. Week $51,013,846
ESPITE unfavorable weather
) D and in view of the fact that |
Monday virtually was a
%holidny, owing to Administrator
Garfield’s fuel order, Atlanta en
{ joyed splendid business last week. !
Here's the proof: §
2 Clerings through the local |
| days aggregated $51,013,846.79, |
! national banks for the last six
{ as compared with $24,353,-
'} 282.35 the same week a year |
/ ago—a gain of more than |
2 twenty-six million dollars. {
{ The week’s total was remarka
! bly large, considering the fact that g
5 there were two days that clearings
{ failed to .reach s7,ooo,ooo—Tues- ?
! day and Saturday. §
The Tron Age today says:
“With so large a -part of their
product, particularly in heavy lines, go
ing to the Goveérnment or its allies, or
to plants having Government contracts,
the ifron and steel industries felt less
than others the closing down order of
the fuel administration. :
“It is estimated that the five days
endlnf Tuesday brought a curtailment
of 10 to 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
plants were d¢wn, the Government buy
lnf converter product, and only such
rolling mills were run as had been en
a ed‘in producing for ships and shells,
rmfiudlng plate mills and some struc
tural and boiler tube mills.
Soldiers Pay No Dues
NBEw YORK, Jan. 26.—New York
Stock’ Exchang2 members who are alone
in business .~nd at present in active
naval or military service are relieved
from paying the usual membershin dues.
The governing committee of the Ex
change passed a resolution remitting
dues paid November last by such mem
bers. The resolution does nnt affect
assessments pald by such Inembers.
Dues are SSO every six months.
Commercial 'Change
The second annual meeting of
stockholders of the Atlanta Commer
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; 15c lower; mixed
and butchers, 15.30@15.85; good and
heavy, 15.30@15.90; rough and heavy,
15.30@15.40; 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,
6.10@11.65; stockers and feeders, 7.25@
10.40; calves, 9.00@15.50.
Sheep—Receipts 4,000, market weak;
native and Western, 9.75@13.40: lambs,
14.60@17.75.
ST. LOUIS, Jan. 26.—Cattle—Receipts
1,300, including no Southerns: market
steady; native heef, 8.00@13.50; year
ling steers and heifers, 7.00@13.50; cows,
6.00@11.50; stockers and feeders, 6.00@
10.50; calves, 6.00@15.75; Texas steers,
0.00@12.75; prime Southern steers, 6.00
gi&oo; beef cows and heifers, 7.50@
Hogs—Receipts, 8,500; market, 30@45c
lower; mixed, 15.50@16.00; good, 15.80 Q
16.00; rough, 15.25@15.50; lights, 15.50@
}g‘fig; pigs, 13.00@14.75; dbulk, 15.70@
Sheep—Receipts 150, market steady;
ewes, 11.60@12.00; choppers and can
ners, 6.00@9.00: lambs, 14.00@17.55;
wethers, 11.50@13.25.
FOREIGN EXCHANGE.
NEW YORK, Jan. 26.—Closing rates
of foreign exchange:
Francs: Demand, 5.72; cables, 5.70.
Guillders: Checks 431%: cables 44.
Lire: Checks 8.47%: cables 8.4614.
Rubles: Checks 13.00; cables 13.25.
SO WL . bas il
, |
Martte.” Sv, .;2(2; 243 245:0 241
do. pref. . . .| 9130 90%| Sll4] 90ip
Montana Power .| ....| ...l 68 ! 68
Miami Copper . .| 32" 33""| 32 | 313
Midvale Steel . . f 437 | 437%| 437% | 433,
National Conduit .| ... . | i 1514
.;‘\«'atlonal Enamel . 44 | 433;| 43% | 4355
orth Ameircan .| ....| ....|/4314| 43
N. Y. Central . .| 70%| 70" | 7034| 70
01, N N.E R 28151 2814
National Lead . .| ....| ’ 4415 44
N. and W. . . . [[loßi4loß% 103:2‘103%
Northern Pacific .| ....] 'B3 8314
N, Y., O. and W..| ....| sooel oo ] 1888
Nev. Con. Copper.| 183%;' 18%| 183, 1814
K. Slrbeake. ICo o hoEE 122‘;&'15‘1
Ohio Cities Gas . 36% 363/ 36%; | 365
PR W, Voo Colll .71 ) sisshy AT
Pennsylvania . . .| 46 | 46 | 46 | 46
People's Gas . . | svebbie sl B 4 @
P. Steel Car . v .| ....| ....| ¢o%]| 61
Spvel. Uy o e
Pittsburg Coal . .} ....| ...) i ] 48%
Fullman Pal cav.l .. 1000 00 Helgae
Pullman Car . . /112 112 112 "112
Ray Consolidated.’ 231 2314! 2315 ‘_’37‘.‘
Reading . . . . . .| T3%/| 738 731, 737
R. I. and Steel . . 75% 75 | 753! T 414 |
do. {)ref. wit o Abea s bopasiv sl S
Rock Island . . -l 203! 201! 2035’ 197
Ry. Steel Sprimgs.! 51 | 508 51 50
Sears-Roebuck . .| ... ....[l5O (160
Sloss-Sheffield . .! 3915/ 39351 3915! ...,
Southern Pacific .| 821! 8215| 821/ 82
Southern Railway.' 237;| 23 | 28% ) 234
do. pref. . . .| 58 b 8 o
Studebaker . . .' 51 | 504! 501 50‘;2
do.cgpel .. SRO ] 8
St. L. and 8. W, .| ! Rl el R
Sinclair Oil . . . .| 33 _32%: 32’4' 33
Boolke B o of eened cvaad 71,4‘ 3%
0o« Per® L . \Vil Sl l 16 | 163
Sugerior Bted . ..o SIS
Tob. Products:. .| 843 B 4 | b4’ 54
Tenn. Copper . .| 15! 15% 15&: w
Thira Avenue: .. .o b s 0017
TGRS CH -|l5O 1149 1160 ‘149‘4
Texas Pacific . .| cved) eenl )17 | 173
Unioy Pacine. | [tk {risw i ianiniai
nion o, . . !
B, o, o R ‘7O
U. S. Rubber .. .| 66 553:] 56 |56
U. 8. Steel . . . .| 913%/ % 19”‘l
do. pref. . . .|llO Huo 110 1109
U. Cigar Stores (95 | o4is) 9416) 94
Utah Copper . . .| 82 | 81%/ 82 (lm
YVa.-C. Chemical } 0% 401 4015 408
IR s sk kbl o 8 81
B PR BALY Gl el @ 41
BB Prlly B kel Ll ol IR
Western Maryland! ....| ....| ....| 183%
Wesatern Union . ‘ sedil devel B 0 8915
“’lll{--overland < 17%) 17 17%! 17
Woolworth . . . ‘ ws o E ants JERE 1116
Westinghouse . .| 404] 40 |4O 401
White Motors . | .... ‘ ‘ 38
Wilson Pack. Co..j ... ....! 5115) 51%
Total sales of stocks Saturday were
240,500 shares; bonds, $2,436,000.
Total sales of stocks for the week
were 2,112,000 shares; honds, $22,024,000.
Bad Weather Responsible for Buy-}
' '
ing—Corn Easier—Farmers
' ",
Offering More Liberally. !
SR |
By JOSEPH F. PRITCHARD. ‘
CHICAGO, Jan. 26-—Fluctuations
in corn futures today were na.rrow!
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 afe more
disposed to sell the grain and with a
larger supply of transportation facili
ties available a freer movement is ex
pected. Cashk corn was strong and
unchanged.
Oats closed at a net advance of 3-8
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. 7 Shorts bought
freely in onder 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 oats are wanted tq take
care of orders unfilled by:exporters
and there must be some accumulation
in the various positions tb prevent
‘shorts from becoming alarmed and
dding 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 small 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 demland served to ad
vance prices easily,
Grain quotations:
Previous
High. Low. Close. Close.
CORN—
March... 1.267% 1.263, 1.26% 1.265
May.... 1.20% 1.26 1.25% 1.25%
OATS--
Jan...... 84 8314 83% 83%
March... 83% 8235 8314 82
May..... 80Y% 9% 799, 9%
PORK—
MR 4P 47.25 47.12%
May.... 46.20 45.87% 46.15 45.821;
LARD—
Jan.... 24.76 24.65 24,75 24.67 T%
May.... 25.05 24.82% 25.02% 24.82%
RIBS--
Jan.... 23.80 23.16 23.80 23.65
May.... 24.45 24.22% 24.42% 24.25
THOMSON-McKINNON ON GRAIN.
CHICAGO, Jan. 26.—Corn—Decided
lack of interest continues to be a fea
ture in the market. Values were only
slightly affected by 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 fllled with load
ed cars awaiting movement.
Oats—Heavy sSnows and severe tem
peratures in extreme West and headed
this way gave oats market a new im
petus. Transactions seemed largely in
the way of an adjustment of former po
sitions. Eastern houses were buyers
from time to time, but nothing has been
said of new export business. In fact
no bids weres 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 this price at country stations
would meet good accaptance. 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. |
\
JACKSONVILLE LIVE STOCK. \
JACKSONVILLE, FLA., Jan. 26—
Hogs—Receipts medium; pros ects
steady; heavy choice, 14...0@&.50‘.
heavy rou%h, 13.85@14.15% mixed, 13.75
@14.00; 1015 ts, 13.00@13.25; heavy pigs,
12.75@13.00; light pigs, 9.00@9.50.
Fed Cattle—Receipts light; prospects
hl&her; steers, 700&11_00; light steers,
5.75@7.10; " bulls, 5.60@7.00; heretics, 5.00
@5.50;, cows, 5.50@7.00; canners, 4.75-_1
up.
e s 13
CHICAGO CASH QUOTATIONS.
CHICAGO, Jan. 28.—Cern—No. 6§
mixed, 1.43: No, 4 yellow, 1.70; No. 6
mixed, 1.35@1.38; No, b yvellow, 1.45; No.
6 white, 1.44; No. 6 yellow, 1.35@1.40.
Oats—No, 2 white, ssr@sm; No. 3
white, 85% @B6; No. 4 white, 8514; stand.
ard, 86@86%.
CHICAGO CAR LOTS.
CHICAGO, Jan. 26.—Following are re
ceipts for Saturday:
WRORE L. .o, doh o i s waie o ikt s 3
QUER oo v osvtte swmevidisnaie. 381
ORI o st o i e e T R
R S G el il e
COTTON SEED OIL.
('otton seed oil quotations:
. Opening. Closing.
BDOb. (v ve be os Eobihaks us AROLRD
January ... ... .. 20.30@21.00,20.50
February ... ...!20.30 120,50
March ... ... ...|20.45@20.56/20.50
April (.. .. ove oo 20,40@20.50,20.50
MRV AR Jy .«120 .40 120.50
Closed steady; sales, 500 barrels.
' NEW YORK COFFEE MARKET.
Coffes quotations:
| Opening. | Closing.
JARUALY .. .. Bet e ] RODEE. N
POOERMRIY -y 6o . fediwich soego g 8.60%8.65
MAreh ooig.. i BBYE . 8.84@8.86
APPE 00, il it iTR OSB O
May .., ... ..] 8.90@8.92 '9.07@9.09
June ... .., .. 9.60@2.05 | 9.1929.30
RO Tt S Gl 8t [ 9.30@9.31
AAEBE . 1.5 D ey P SRR
September .. .. 9.38@2.89 | 9,49%9.50
OBODEr ... Wuoleievivsiss] 9.58@9.67
November .. ..1............! 9.62@9.63
December .. .. 850 | 9.868@0.69
Cotton Seed Meal--Festilizer Materials--Cotton Seed Hulls
Prompt, EXPERT attention to all INQUIRIES and ORDERS.
Any DELIVERIES obtainable and PERMISSIBLE.
Shipments- ANYWHERE in any CARLOT quantities.
LN
A B
s
.
T
TAYLOR COMMISSION Co.
Healey Bidg., Atlanta, Ga.
U. S. Focd Adminisiration
License No. G-02701.
Oodes: V;"s & Robinson's
No Storage Stock on Markes,
' '
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 the market.
Receipts of fresh eggs were ex
tremely small and readily sold 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 Mc-
Millan Produce Company. With an
other bad spell of weather predicted
and no improvement in the railroad
congestion, 1 see little chance of re
ceipts increasing. I was unable to
locate a single case of cold storage
eggs Saturday.”
Business on the row was dull, with
arrivals late»
McCullough has a car of Florida
oranges rolling—due to arrive Mon
day.
Fidelity has several cars of Cana
dian turnips several weeks overdue.
C. J. Baisden received two cars of
Georgia 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 during a weeks’' time,
All produce houses will close Mon
day at noon in accordance with the
order issued by Fuel Administrator,
Rail Earnings Grow
Despite § Del
LDespite Storm Delays
’ Gross earnings of fl}s TUnited States
rallroads making weekly statements still
irenect the adverse ; traffic conditions
arising from Inclement weather in many
sections. The total of ail roads that
‘have so far reported for the first week
in January amount to $5,335,823, an in
crease as compared , with the eor
responding week a year ago of only 1.1
:per cent.
' This is the most indifferent com
‘purison made bg these roads for many
weeks, but aside 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 period up to that time.
Quite a number of lines report fall
ing off, as compared with last year,
but these losses are more than made up
by the substantial gains that continue
to appear on Texas and Pacific, Mls
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 corresponding period a
‘year ago; also for the roads that report
'ad for the same week in the two im
‘mediately preceding months, together
iwlth the percentage of gain over last
year:
[ 1918, Pet.
Jan., 1 week .....$5,356,822 Gain.... 1.1
' Dec., 1 week ~... 8,831,227 Gain.... 5.9
Nov. 1 week .:... 7,472,086 Gain.... 8.1
Sugar Crop Estimate
Set at 5,915,000 Tons
" The following figures give the sugar
crop in the Western hemisphere: 1
1 1917-18.
Tons.
U. S.—Loufsiana, Oct.-Jan..... 275,000
Texas, 0ct,—.]1_gn............... ‘2,000
Porto Rico, Jan.-June........ 475,000
Hawaijan Islands, Nov.-July. 525,000
W. Indies-St. Crofx, Jan.-June 15,000
SBan Domingo, Jan.-June........ 145,000
Cuba, Dec.-June ...............3,200,000
B. West Indies—Trinidad, Jan.-
Ueke vk T
Barbadoes, expts., Jan.-June. 55,000
Jamaica, expts., Jan.-June.... 30,000
Other B. W, Indies, Jan.-June 35,000
French West Indies—
Martinique, expts., Jan.-July. 40,000
Guadelope, Jan.-Ju1y......... 40,000
Mexico, Dec.-June............es 36,000
Central America, Jan.-June.,.. 26,000
South America—
Demerara, expts., Oct.-Dec.
and May-June ...........= 120,000
Surinam, Oct.-JAN......ceceees 15,000
Venezuela, Oct.-DeC........... 15,000
Ecuador, Oct.-Feb. .......... 8,000
" Peru, Oct.-Feb. ..........ccee 265,000
Argentine, June-Nov. ........ 150,000
Brazil, Oct.-Feb. .......ccc... 375,000
BPGERE ~. . 50 s oo sssonssniesseanh VIHOOO
SRR b b
Stutz Motor Co.
Earns 14.33 P. C.
Stutz Motor Company earnings in 1917
wore e%ual to $14.33 a share, thé net
profits being $1,074,778, againts 1;”1,016
in the last seven months of 1916. No
deduction has been made for war taxes.
The company produced 2,207 cars In
1917, against 1,535 in 1916, and 1,079 in
1915. The 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
T
A 0
ACRE
Dt
A
Refs: The Mercantiio Agencies