Newspaper Page Text
8E
THE SUNDAY AMERICAN'S FINANCIAL AND COMMERCIAL PAGE|
Strength of Spots, High Temperttures in Texas,
Belief That Acreage Will Not Be Increased,
Chief Sustaining Factors—Bears Nervous,
By VICTOR BARRON.
Pluctuations in cotton continue in
significant, especially when contrast
ed with the wide movements of a few
weeks ago.
The week's net changes were ex
tremely trifling, the option llst in
New York showing a gailn of 13
10 & loss of 7 points, while in New
Orleans futures were 3 up to 2 points
net lower. There were only four ses
?‘“ during the week, Monday and
uesday being holidays,
While the changes are unimportant
. the market has sustained a firm tone,
“Which many close observers consider
rather significant,
Continued talk of Government price
regulation, the ilnterruption of mill
activities by the fuel scarcity and in
creased number of British shipping
losses were the most important fac
tors working against the market dur
"‘%‘:‘ week,
wnst important sustaining fac
tor was the continued strength of
_ #pots, scarcity of white cotton, ab
- sence of rain In Texas and larger
. domestic consumption during Jan
.’w.m,p generally expected by the
®. In addition to this, new crop
: rmpocu were not encouraging, ow
ng to high temperatures in the West,
drought and a growing feeling that
the acreage will not be Increased but
ttle ,if any, over 1917, owin to scar
city of labor, boll weevil, the Gov
ernment’s cnmml? for heavy food
and feed crops. This made a {ullllh
impression on sentiment, the feeling |
among the bhears plainly lhofln.‘
slgns of chanzing.
lig Short Interest.
Another bullish item was a report
i t electrically driven mills In the
& 8 would be permitted to work
t to catch up on Government
However, this was partly
owed by Boston advices to
p effect that the “heatless” days
gontinue in all the New Eng
h# Btates.
‘ rade houses, spot firms and shorts
_were the principal buyers during the
week, with offerings coming chiefly
from Wall Street, Liverpool and com
mission houses. Western liguidation
- was not in evidence. A big short
interest is understood to be g;nsln.
over t&o. market and conservatives
‘argue that this element will be forced
to even up sooner or later. At the
m t trading is held in suspense
vith bulls hanxin& back In absence
outside speculative interest in the
gfid and fears of political develop
ts at any moment. On the other
hand, the bears are timid. over the
firmness of spots and the continued
s of manufactured goods.
e U. 8. Orders for Goods.
.~ The Government continues to place
heavy orders for cotton goods with
‘the mille, which are sald to be en-
Joying a iurgo margin of profit at the
_present price of the raw material.
~ Although handicapped by traffie
0 tions, severe cold, fuel shortage
and shutdown on account of the heat-
Jess and thtlex holldays, domestie
mills used 524,08 bales of cotton last
“month, against 601,381 the same pe
riod last year. However, the month's
econsumption outstripped December’s
m‘lfl several thousand bales. The
Week’s Financial Summary
Following is a brief day-to-day sum
mary of the most essential financlal
news made public last week:
MONDAY, FEBRUARY 11,
tian bank clearings, $8,180,680.99;
& “‘:, $4,145,415.86.
%L‘o grain closed fractionally
lower.
All American exchanges exocept Chi-
Board of Trade were closed—'light.
w' and ‘‘heatless” hollday.
i TUESDAY, FEBRUARY 12
. Atlanta bank clearings $7,563,83874;
Jast year, $3,052,957.48.
~ All American exchanges were closed—
Lincoln's birthday,
WEDNESDAY, FEBRUARY 18,
Atlanta spot cotton was quoted un
e at 31.560,
an bank clearings $8,568,670.90;
las , $4,413,481.52,
; ew York cotton closed 2 points up to
W lower, Absence of demand
or less free selling by Liver
u:g commission houses, caused
d o,
oq’f Yerk Stock BExchan closed
weak.. All igsues broke lhl.rlp?r fiufln.
the n{ hour, with Gene otors
show the greateat bm% Liberty 48
ldé 10 A new low of §4.70.
hicago grains closed lower. Bhorts
w:nusod bu:’;{q of corn early, with
pi ers absofbing oats.
Usual dividand of 1§ per gent—quar
terly-~declared on Southern Paocific. |
R qunrterlé dividend of 13 per
cent lared on Cerro De Pasco, ‘
n & Co. declared the regular
quartérly dividend of 18 per cent on the
preferred stock, Pp‘nblo March 10 to
stock of record obmArY 18.
it 8% Comrcny declared the regu
lar rterly dividend of $1.36 and an
xtra dividend of $4.76 a lhlr. both
mnbb.mrch 20 to stock of record
19, Prices and condition cov
ering uetion and mmonu of zine
and la,q.d are normal unchanged.
THURSDAY, FIIRUARYJC. 4
to‘lwu £pot cotton advanoced 16 pointy
Atlanta bank olearings, §7,879,775.62;
BTs Yot fothim thteed ¢ netets'low
i ew Yor er
to § %olnt. m Trade filu and
: %B“ rme were the leading buyers,
all street, the Bouth, Liverpool and
the ring crowd seld.
New York Stock Exchange closed
steady. Rallway issues scored heavy
gaing dnrinf the closing hour, due to
-the declaration of a quarterly divfimd
of &15? per cent on lhflo'h::cmo..
cago gains closed er, w
: and from shorts and oommission
i Bee caused the rise In oats,
llers’ Securities declared the reg
vlar quarterly dividend of per cent
- and an extra dividend of 1 Por oent,
R"‘l“b‘f April 18 to stock o recora
g:. M. Woolworth Compan eclared
the regular quarterly dlvigcnlo’ 1% on
consumption for the month whils
called “small” was better than ex
pected and Increased bullish senti
ment,
An illustration of the firmness o\
spots is shown by the following from
a prominent Georgia spot buyer:
I never saw cotton go firmly
held as it now is. All the cotton [
know of in my territory that is
held by other than cotton men
will go Into next season unless
the market should reach 0 cents.
Banks never had the money they
| have now. In cities the deposits
~ have Increased from 40 to 100 per
cent since last Auq_u-t 3
| Larger Mill Takings,
Spinners’ takings last week agaln
were small, totaling*only 183,000 bales
against 231,000 bales the same weeh
last year, but the tukings were nearly
2,000 bales more than the previous
weck.,
KExports for the week, 73,462 balea
against 88,081 the same week in 1917
However, the outgq for the week ex
ceeded the previous week's oxporu‘
by more than 2,000 bales. |
The visible supply of American cot
ton during the week increased 16,.-
762 bales, against a decrease of 50,-
419 the same week last year. The
total visible -upgly of American ecot
ton today is 8,169,064 against 3,983
857 the previous corresponding pe
riod. While the movement into sight
last week totaled 187,269 bales, ot
more than 17,000 bales In excess of
the same wegek last year, the total
amount brought into sight so far for
the season amounts to 9,109,041 bales
against 10,692,713 the same date @
year ago.
Sees No Increase in Acreage.
With regard to Georgia's cotton
acreage this spring The New York
Commercial's State correspondent
sent in the following last week:
I have just completed a trip
covering about one-third of the
best farming counties In Geor
fh" thrnu#h mud and slush, and 1
alled to find any preparation for
this year's cotton crop. The only
plowing that has been done is
where wheat and oats have been
sown,
1 talked with numbers of farm
ers, bankers and cotton w?e
house men, and the very genéral
idea is that the cotton acru{o |
will not be increased in Georgia
any over 1917, 'They are buying
fertilizer In about the same quan
tity that they did in 1017; that
is they are placing their orders
for fertilizer. Nothing has been
hauled out on the platforms, so
you can't tell arything about or
ders until the actual has been
delivered and hauled,
1f the Government ¢alls all the
men that have been rhoed in
Class 1, which it is almost cer
tain they will do, then the cotton
acreage in Georgia will be re
duced somewhat, as farmers say
if their sons and tenants are call
' ed that are In the class men
tioned, they will have one or more
mules for sale, and certainly their
acreage in cotton as well as food
stuffs will be reduced in propor
tion. L
By STOX AND BONS.
the preferred stogk, able April 1, to
noc{tof record %fi‘m?i’
Rallwey employees' wage demands to
tal about ssa.&o.ooo annually, aceording
to teaflmm\“ before tne rallway wage
commission Wednesday.
FRIDAY, FEBRUARY 15, IJ
Atlanta ur;t;t“ootton was quoted un
changed at 31.66.
A't\l‘lntl hank oclearings §8,268,739.89;
last year $3,009,288.56.
New York cotton closed 1 lower to 15
points higher. Trade houses, spot firms
and shorts were the leading buyers.
New York BStock Exchange closed
strong. All {ssues scored viroroun
fnln-. with Union Paeifio oltmb ing to
18%. Bteel, shipping and spe ties
were prominent.
Chicago gains closed irregular., Oats
reached a new high record early in the
dng. but reacted on realizing.
pinners ukln{:d of cotton tokthc
week were repor at 183,000 lu.‘
against m,ooo the same week last year,
Subsoriptions to the fifth Itallan loan
excseded equivalent of $680,000,000, ao
oordlnc.n & report from Rome.
Congestion on eastern railroads re
duced about 20 per cent.
i
SATURDAY, FEBRUARY 16
"A.mh #pot cotton advanced 8 points
Atlanta bank olu;in . $6,483,074.68;
last r, $8,015 786.02, gbr woe "t“.-
l‘hdmh fut year, ”l.'lfl.l'fi.l{‘
ew York cotton closed 9 to 14 points
higher. Trade house buying and oover~‘
lng by ghorts caused the rise. w
New York Stock BExchange olosed ir
regular. Bharp gains were recorded in
most issues, but near the close !Mlll-‘
trials eased off under realizsing.
_Chicago grains olosed higher with oats
‘shonlnz & gain of 1% ocents and oats
up i,
| o B e & Co, orted January
sales at fx,o«a.w, /n ggmfio of slll,-
‘Mhorjn.blp;r cecr‘x,t over 1017,
awel Tea
for t’hhfour wuhwum
0{031.1 068, un comx-.r.a !f "'ui" -
250 for the om..‘on ing prelod of ¥,
a decrease of $5,087,
——————
WEEKLY WEATHER FORECAST,
WASHINGTON, Fob..r.—’l‘ho Weath
er Bureau today issn the following
forecast for next week:
South Atlantic and East Quif Im’.&
Falr and colder Monday. Pro 1y
rain Tuesday, followed by somewhat
colder Wednesday. Conditlons latter
part of the week uncertain, but without
decided tonwcntm-o changes,
ost Guif States.
It will be warmer )%on . Generally
falr Uio first part of the week, but the
3{:&!( ons after Wodnesday are unoer
with a grohhulty of n%v‘nul tam
remtura with no rain unt{l the end of
he week.
Ohio Valley and Tennesses.
Cold and fair weather Monday and
Tuesday; risfing temperature Wednesaay
with local r 4 The conditions for the
last part of 'Weosk are uncertain.
HEARST'S SUNDAY AMERICAN
, ‘ Ra
{Week’s Range
Following shows the nighest and low
ost ‘ruwo' active cotten options on
the New York and New Orieans Cotton
Exchanges last week, to%flhor with
Baturday's close and net ¢ -nao; from
Friday's close; also below net changes
for week:
_“.__._._'l!;!\'_l63*- '
F .lc_']flfl
c ________]Hlgn.,Low. Close, |C'se
Mareh. . . . ,:-so.a;}n.u'n.to-nuw
WEY: + o o+ "BV 2’.60‘!'.13-74!-01!
July. i d og:aoq B&fl‘gl\-RRH»M
October. .. . .|*28.11517.86/26.03-04) +l2
e NEW _ORLEANS.
' 7 ’ SatJNet
S N S Close. (C'se
Mareh. . . . .‘-al.za:m.u;n.u--fiu
May. . . . . .|%28,73/128.46/28.70-73 +l6
Nl . . ‘Ogn 1268.04 28.23. -1-‘0
October , . . .|*27.18/126.80,27.08-10} + 17
tThursday; (Friday; *Saturday. |
Net changes for week: |
New YOrk .. .. «s ss seee=T; +2013
New Orleans.. .. .. «s 3¢ +++% —l’l
S s |
Federal Reserve '
Bank Statement
Statement of rescurces gnd Habilities
l.t the close of business February 16 foi
ows:
Resources.
Gold coin and certificates
SRS N s eeeh ,s,m,m.n‘
Gold settlement fund...... 18,772000.00
Gold with foreign agencies 1,676,000.00
Gold with Federal Reserve
BOML ... aveiziiviivisie. AU
Gold redemption fund...... 1,224,800.00
’ Total gold reserve....... $68,771,826.28
Jegal tender notes, silver,
; 80, sscennanaosppnesrgsis 1,684,941.00
Total reserve ........... §70,406,266.23
‘Bills discounted
members ....$8,280,196.69
Member bank b
_ coll. notes. .. 2,089, 500.00
Bills bought in
open market. 6,620,049.64 ’
Muniocipal war
rants .:...... 133,613.00
U. 8. long-term
Secs, ‘(bds.) .. 8,494,260.00
U, 8. short
term Secs.
(ctfs.) ...... 8016,000.00
Total earning assets.... $28,582,509.23
Transit items . .......coo.. 14,009,986.38
National bank notes in
PRI i i iconnbsssrivies s MRS
Mutilated currency for re
dcm'xn0n........,....... 22,000.00
Due from other Federal
Reserve banks . ......... 1.914.901.:}
All other resources........ 1,922,688,
apmp————
Total resources .........5118,666,669.70
Capital pald 1 Linbiltles. $2.876,700.00
apital pa Beebsossnssssy , 700,
Surplus fund .....ooeeeseen 40,000.00
Government deposits ..... 2,002,990.87
Due to members, reserve
BROCOURE +ovvverevrrssscve 37,898,601.39
Due to non-members,
cleartn{ accouUnt L..c.iee 8.‘19.88
;l‘lnllll items Rehsesesnipd 12,035,616.67
'ederal Reserve notes In
actual cireulation ....... 67,262,880.00
All other liabilities ........ 438,651.44
Total llabilities ..,......$113,606,660.70
Milder Weather
Aids Steel Mills
L 1
Milder weather is helping the res
toration of steel mill scehdules, al
though capacity output will not be at
tained for some time, due to the ex
tended breakdown. A resumption of
severe weather would nrm cripple the
mills, as the r.arud situation has net
lmflov.d.
e lron Age reports mill operations
now at 60 to 70 per cent of capacity.
ghlpmentn are 50 per cent of normal.
estriction of exports is & hampering
factor, while uncertainty of Govern
ment requirements holds back the tak
ing of private orders. The British mis
sion {8 In the market for 120,000 tons of
mntel. ingot output of mills, represent.-
& 88 per cent of the country's ca
pacity, was 2,600,400 tons in January,
agalnst 3.106.‘00 tons in December.
The Iron Trade Review reports a 10
to 26 per cent improvement In steel
output as a result of milder weather,
Flood dangers at Pittsburg, however,
becloud the betterment.
NEW YORK CURB MARKET,.
The curb market openad steady and
closed irregular.
SBTOCKS— Opening. Closing.
Chevrolet .... 119 121 120 1!1
United Motors.. ?& 3585 %@ 36
Brit.-Am. Tob.. 17 18 17T @1;
Canada Copper,. 2 2% 2 @ 2%
AARE iiionn B 35 25 @ 8
Oklahoma ...... 7 712 7 @ 7%2
Hecla Mines..... 8% 87 %@ 8
Jumbo Exten... 16 17 15 @ 17
Lake BRoat ...... 2 8 XK@ 3
Manhat, Tran.... , G
Marcon! ~,..... 8 ‘ SHhQ 3
nglnlng akdss in A SR@ 8%
Submarine Boat 12 18 1215 @ 1814 |
World Film.... % LO |
St. Of], N. Y... 278 282 278 @2BB
St. 01, N, J.... 588 662 668 @b62
Bt. Ofl, Ca1....228 233 228 @2BB
Bt Ol 1nd....845 @655 648 @66
I‘uh‘t&l yorors iR IR 478 47 [‘7
Ohlo O ......, 828 888 288
Indiana Pt?o vOO 8 4Q@ 88
Houston Ol ... 48 4 0: Q@ 45
Cosden Oil ~... 8 8:2 ".‘ 3&
Anfks-Am. Ofl. 11¥@ 12 }1 @ 13%
Unfon Tank ... 88 87 gQ@ 88
Q’?vm;‘m(l)‘.‘..... 0“ 1(’)' tu Plg
otoria ewan (]
Inter, Pete..... 1; 1!(2 13 @ lla
LIVE SBTOCK MARKET, |
3HJOAGO. Febd, m——}log. receipts,
2.400; markets, ltronk 26¢c higher; mix
ed and butchers, 15.06@16.66; good :n
heavy, 18.000‘0.‘0; roufh heavy, ]l.& 0
f‘”‘ “T e ;s 16.65; pigs, 18, |
5.80; bulk, 16. o!c.oo, ‘
Cattle, receipts, 6,000; W-.
T ank Toers. s 3000.007 ot ‘
‘ows 4 . stoo
::u;“ feeders, 1.!%'10.80; oalves, lbw
~ Sheep, receipts, 28,000; markets weak;
native énd weatern, 10.00618.25; lamba,
1!3501 .76,
T, LOUTS, Feb, 18.—Oattle, melzu.
600, including 80 Boutherns; market,
ltudg‘: native beaf steers, i.oogn.so;
yearl ’ steers and helifers, 7.00@18.50;
cows, 6.00011.80; stockera and feeders,
s.oo&:o.oo: calves, $00914.00; prime
southern steers Q.Ol)ogli. 0; beef cows
and ll‘.'l?ofl, c.odmo. : prime yearlings
‘-n& .u-n.'-rt.so%o.ok ot
Ofs, eipts, A o
Mg et eet 1
.80; rou o 281 s, 16
1855 oigw 13,0001 50 Pt 18 §o@ 1878,
| "!hnp, ts, 3: rkgg, nomi
nally steady; ewes, 1& 1 chop
{nra an canners, X R lu!&s.
400@17.76; wethers, 115001925,
NEW YORK BANK STATEMENT,
NPEW YORKi Feb. 18.—The wee
statement of the g\'ew York Auool:}lg
Banks (filve days) shows the following
changes:
Average Statement.
Loans, inerease, §3,040,000,
gmnund dex]no.itl. decreass, {n.:n,m.
ime deposits, decrease, §8 ‘pooo
Reserve, decrease, $40,083 086,
Actual Statement.
Loans, increase, $6,143.000.
{r)‘.mu:id dex‘)()dl(dl, deuruo‘.l. PD:&M
me deposits, decrease. &
Rocrve Taesriant 0:0,504.000’. |
~ A Newspaper for People Who Think
Market Closes Steady, With Gains
and Losses Being About
Evenly Divided.
NEw YORK, Feb. 16.-—There was &
steady tone to the stock market at
the opening today, with the galns and
losses being about evemly divided.
Bteel common sold off % to ¥o% whue
Baldwiu rose one point to 78, Crucible
after opening % higher at 61%, reacted
5.
Atlantie, Gulf and W. I continued its
mwtrl movement advaneing % to 119
rine preferred ylelded %.'hllo the
common rose %to t!% neral Mo
tors rose h‘to 131%, but quickly re
acted to 130%. Texas (mgny sold one
rou,:lt ‘l:llgl\nu.;t Ilt’l uu:g exico etro
u o '
.'l‘ho rallroad %;%o showed fraction
al advances. Liberty 4s were aotively
"‘l‘(’:gnm ::t‘ - t': .:son mi
e o -
nent feu:u momtrrdln ” lnovm up
to m‘vs. . ,?tfl:nuol lc‘iuhll ;mf ‘W'utt llnlt:lll
ropp o point to v
3s‘hepr. were some ree.(.lom in the lu’o
dealings In the %teol ndustrials which
had previously been in demand, but
these declines were due almost wholly
to profit taking sales b( th:dprom tak
ing element. National Le was a
strong feature, moving up to §56%.
The market closed Irergular,
Government bonds unchanged; rafl
way and other bonds steady.
NEW YORK BTOCK MARKET.
Stock quotations:
| (Clos.|Prev
BTOCKS.— High |Low. Bid :!rcru
Allls- mers , . 24 2% 24 24
do, pro{.’ W 76% 7!% -ua 70;
American Zinc, ..| 16 1522 16 15
Amer. Beet Sugar. 7914| 79 9% 19
AP . i a T
American Can , ,| 41 | 40%| 41 | 40%
DR i) v et B 92
Am. Car Fdy. . .| ....| ....| T4%| 74%
Am. Writ. g@ror. 25 25 26 'k o'¥
Am. Cotton O, .| 31;12 31% :% 3iig
Am. lLocomotive ,| 63 2% 62% 6314
Amdoétg’ex}cfi"dir' o il et T a “%] gt%
Amer. Smelting. .| 837%! 8314| 837 8313
Am. Sugar Ref. .| ....| ....108 !106'4
Amer, T. and T, ./106 IIM 106 [106%
Amer, Woolen , ~ Sczr 63%[ 64 |62
Amar. Lln:eod . .| 83% ' 33% .3’236 ;:;A
I R Y -
fitl. ?l End Vgi 1120 ‘H;fi!!}:glly"a
mer. H. an ‘
00, T L ignk h 160 |B7
Am;r. Mnlt{Corp. BT e ‘ }“1”‘ }s'!x‘
O, Prof, , . of +44s] .ssed !
Amer ‘Fobccco . .|l6B ‘l6! 1166 |IOO
Am. Suma. Tob. . T4%| 74% | 74%! 7314
American Ice. . .| ..., ....| 19 |lB
Bi r T
AIONER TR sX it ks 2’2
Anaconda ... ..| 84%] 63 64:2 631
AUERINOB, ¢ .04 8(%: 84% | 8415 85
i 20,lprof. A istad ‘*o‘2(‘)2
Baldwin Locomo. .| 78| 71y 2% 1114
Booth Fisheries ..| ....[ ....| ....| 2585
B. and O. . . . .| 6214 l 52| 52 lsz
Butte Cop., Zinc. .| 10%/| 10% 10:;
Bet‘);lehem suo'l W ake ol wensl TN ;g
N 200 DOl bl el aaiy
| do, g.'l;et. «o« 8101 1101 (101 (101
do......'lGK‘N%‘IT%'I!
B.R T .. . . ¢ |3% 48%| ¢
Butte Superior .. nu {1 19%
C‘Ld Pctrol;,um o f 'l7 7 | }g%
R R & il il
Can. Pacific. - U 8 |m luc 1412
((:,. -ngg...-.\.u [M 54 g: ‘
>. an R dod Pkt aL ol B
Colo. F. and I. .| 39% 391‘.2 3912| 38
C., M. and St. P, . 43:2 43 43% |43
Chino Go'pper « o] ML) 3% 441¢| 43
gonsolldned SRB J e 0L OB
orn Products ~| 84%/| 843! 343/ 3 ‘
Crucible Steel .., .| 817%]| 80 613
Cub‘?n Cnn: Sugar.| 82 81 32 %
BN b ) Vi
Central Leather. .| 71| 70%| 7T1%! 70
Chile Copper. ~ | ....| ....] 16%] 16
ERUNIE 088 . & o +oo.booed o i) 88
Clorro Toe Paßeo. %ol 0000 l vosel ovve sg |
Continental Can .| ....] ....] ....]'® |
Del. and Hudson .| ....| ....[llO 112
?ln‘tll. Securities .| 40%| 401 14%)% ;:n
iy RS Gl e
gn, 2ldat pries. Jiveek ..‘.(24% {: |
o, ROF, ot S N |
General Ffl’e(-trlc 140 140 1140 140
General Motors, .[131%/128 11307181
Goodrich Rubber .| 47 45% | 46151 47
G. Northern, ptd, .| ..., } 9114 | n;
G. Northern Ore . .| 20%| 28 | 287/ 2
Great Weatern. . .| ....| ....| 7 7
0 Bkl Y ] 7
gulf States Steel | ....| ....| 97 90
reene-Cananea ..| .... ‘ 42& 41%
ynnoucmntul . 23;2 2&‘5 " } 2:“
nsp. Copper. . . {
Inugboro b #a M el ges 42!2 4:“
o, Sxpbaaaualaive
tndus: Lloohoi . . 12634 (135" '|l2s 124
Inter. Nickel .. .| ....| ....| 28%| 28
SHORR. PR, o lianaaliis e, 312' 31%
K. C. Bouthern. ..| ....| ....| 17
K, (c,nd T.r. ]el B 43
I BORE o o oal il by
Kenneoott . . . . aafi 83 u& s; |
ck. Steel , ~ .| 17R17T%| 11 8 |
D YReY »i Nl eSg
and N. . ~ 118 118 113 )11 |
Maxwell Motors .| 28 |2B |2B |2B |
dO. lat pref, .| ....|'..,.| 81 61
,Mo. Pacifie ?now). 28%| 28 2831 23
Mex. Petroleum .| 98 92 92% |O2
v R | 2831 2714| 26
do. pref.. . , ,1100%| 98 99 98
Rl Copper " | 41| 41| S| S
opper . .
I%:/nule Steel , . 45& 05{2 06:2 45
ational Conduit |l7 |l6 |lB |ll
vational Enamel .| 4§ 48] 44x! 44
North American .| ....| ....| 45 |4B
Bv RN T 70% T1%4
E.g..fi.n&n %g gg
Neional Taed o Ll
.and W, . . . 1108 110634105% 108%
i N el btk R
ev, Con, Cq&per. 10% | 193] 19% 19
N. Y. Airbrake .| ~..| ....[l2O |127
Ohlo Citles Gas, . 41& 41 14 |4l
tu.-‘y. V‘:. Coal :g ':‘os% 265% l‘%
n van R
pi e iy )y g
¢£% Conl .|| 53 sl%| £ 51&
y solidated. n& 24 u& g‘
DRS¢ 71718 17T
1. and Steel ..| 18 ‘Ha 18 [ %
k Island , . .| 31 |%O 21
. Bteel Springs.| 54 |64 | 63 ,uu
Bears-Roebuck . .155& 58 [155% (164
g:’ou-!lhemeld . . B 0 48%) 40 |4B
utgern fi:cmo .| 86 | 85% | 8514! 85
Southern flway.| 24V ) 388 | 2835 24
do. grer. Lt 69& gs 503 |SB
Studebaker ~ , .| 51 0
do. pref. s o) vaselianeey ssesl B 8
Bt. L.and 8 'W..O[ 00 il i 1 17
Sinclair Ol ~. .| 87%| 87 !; 87
s. A.d Lpr.ot. & O AR] s 18
Tob. %roaum || BBig| Bddg| 4%y Sii
Tenn, Coggn Ko} wase]vn sl 38 5] BBAR
;Mrd SRS . ] aiviloiacs ég z.
exas Ol , . . . (161 1864416534 (167
'tl;ox::d!’uofnto *vl piileagee 18 |1
U:Lz. gg{m' . Im& LI leo i
o B?I?ubbor o b asis] asen] O 188
g d Steel . . . . 984! 95| 06 R}
5 i i e
& per , . lflt l'i' 8314 82&
Va.-C. (?hemloa.l o seaeleee.] 40 ] 40!
Walesh ... bl 8 8
PR CARY L, ? 41%
Western Maryland 1& 7 *1
Wo;t nion g :: 1:2
Woolworth » &« 1| sel THii 18 (11
Wulglnfi\o?u o o 4| 18] 419 3!‘
White Mo 2 of aaedl astsl Sie
Wilson Pack. Co..| # 88i4| 66| 56y
BONDS.
T. B‘.‘,U{}‘l"A.l . .‘OI.OO’O'LDO‘M. gg
do. 24 4s . . foi.'»b" fic'!“fidui |
An.lo-l‘gmn:h bs . ....!i.... st W
Ideal Weather Is
. - ®
Big Stimulus to
Allßusiness Here
RADSTREET'S review of
B business conditions here
for the week ending Fri
day, February 16, follows:
Wholesale and retail: Trade
manufacturing and industry
continues active.
Splendid weather conditions
have greatly stimulated both
wholesale and retail trade. De
partment stores report heavy
volume of business, part of
which is attributed to soldiers
and others stationed here by
reason of the cantonment.
Grocers, restaurants, hotels
and soda fountains are doing a
large business.
The fuel situation ha sim
proved and manufacturers are
working full time.
The railroad congestion is
beinf cleared up and the roads
have resumed solicitation of
freight.
Farm work still is delayed
on account of wet soil, but
with a few days of sunshine
work will be in full swing.
' SPOT COTTON.
~ Atlanta Commerclal Exchan quo
gofd middling, umct. 31.70; ’:lu 3‘31
ales. )
Atlanta Warehouse Company quotes
good middiing 3134.
Liverpool, middling, 23.53 d. |
New York, middling, 31.45.
New Orleans, quiet; middling 30.38;
sales 480 bales. |
Charleston, middling, 30c. \
Wilmington, muddl 80c.
Galveston, quiet; m‘mllnf 30%.
Savannah, steady; middling 30; sales
l'slg;[mb‘dlel"m.. iet; middling 31% |
adelp! uiet; m n . |
Norfolk, atug)': middling 30e. |
oston, qulet; middllnf 31.30.
ttle Rock, steady; middling 30%. |
St. Louis, steady; middling fi% |
Montgomery, firm; middling 81c; sales
127 bales. |
Dallas, steady; middling 30.10.
Houston, quiet; mlddllnf 30.35.
Mobile, nominal; middiing, 3033, |
Memphis, steady: middling 31%. |
DECEMBER RAILEOAD !ARNIN‘GG. ‘
December reports to the Inter State
Commerce Commission from 98 steam
rallroads show, in the aggregate, the
following operating results:
Dec. gross ‘.....’149.172,9“ $140,283,043
Net oper, rev. .. 80,192,888 42,510,699
Bal, aft. taxes .. 21,442,516 36,353,377
12 mos.’ gross. I.m'm.un,n‘r,m.»
Net oper, rev.... 508,846,250 554,045,648
Bal. aft taxes .. 409,156,504 480,766,175
SEMIANNUAL STATEMENT
For the six months ending December 81, 1917, of the condition of the
Atiantic Life | ce Company
OF RICHMOND,
Organized under the laws of the State of Virgina, made to the Governor of
the State of Georgia in pursuance to the laws of said State.
- “dP‘rincipul Office—Ninth Floor, Virginia Railway and Power Company
uilding.
1. CAPITAL STOCK.
L Amount of oWpltal B .. cvair i i S 8 Yaes $300,000.00
2. Amount of capital gtock paid up in cash ... «cc ces os 300,000.00
1. ASSETS.
1. Market value of real estate owned by the com-
BRBY heo Tohoshg gk een ikeae ene oen i BRI
3 houmbered, 10 What amOURY, s sss sed 599 22t 5o $14,015.08
3. Loans on bonds and mortgage (first liens) on real estate. 8,074,395.41
3. Loans secured by pledge of bonds, stocks or other mar-
EURRTNG POURTRNREE - 2 e asial s ShE 405 bad b 28,920.33
4. Loans made in cash to policy holders on this company’s
policien assigned a 8 COUBRLOIAL s s "sar 210 355 sy Isee 643,206.04
6. Preminm notes, loans or lieng on policies in force .. ~ 50,191.22
6. Bonds and stocks owned absolutely, par va1ue,5167,400.00
*Amortized value caried out .... .. .. .. ~ 151,685.61— 151.58*.61
T Ooao 3 DODRRY'S O . b ins ves sha vk Bab has 8,881.37
8. Cash deposited in bank to credit of COmMPANY .s «s oo «« 189,472.07
10, Interest due or accrued and unpaid ... ... .se see sos o 48,910.09
35 RACREE BATARNE .. i ipa vafiveiags sed Bwr pew Lis 88,477.45
14. Net amount of uncollected and deferred premiums (de
duction 16 per ecent for average loaning from gross
T R A YR S e R i G e 58,763.61
15. All other assets, both real and personal, not inecluded
p7ST AT PR BSTeB, O S s RBSSI it el 14,169.98
TOtAL ABIBLE .i« o o svesaces von sl sos Sap Res 53 csaes ShIS4T.3B
Less agents’ DRIANCER ,i. cow eroe »v oo oo +-988,477.46
Less commuted ren'l, COME. oo sone v oo oo ¢+ 85,632.48
Less furniture and AXtUres .. <.ve <« e o« «, 8,000.00 l
Mgy $60,109,93
ACTULINN SABILE o, s9s ooe ooooe vedi aos epe sonpe oo §,815,857.33
*One hond at market value,
HI. LIABILITIES.
1. Net present value of all the outstanding poli-
QIOR IB SORBE 1o« bt was hae et e sviey s lOD 0L RBAY
Deduct net value of risks in this company, re
insured in other solvent companies .. .., 57,129.14 |
Net promium TeServe ~. cvv cocvsy aee sap=ese ses vss $8,248,087.68
2. Death losses and mutual endowments dug \
SR BRER "4% o aest b Rei e e 11,691.00 |
BN S O 2 e e s e B e e 11,691.00
7. Dividends declared and due and remaining unpaid ... .. 8,850.18
8. Dividends declared, but not yet due ... ... ... ..e.. 238,988.98
10. Amount of all other clalms against the company ... ... 191,163.18
11. Cash OBDIERL 400 2o 2ot sos “usees sugees res aßs ses 800,000.00
5. IS TOWY Rl TODIMLION: .o sriie Nad ude N eenl 226,226.3%
DR PIDRNMNN <. s hes sNhpee Bew cha e s vy BEDIREEL.OO
IV. INCOME DURING THE LAST SIX MONTHS OF THE YEAR 1917.
1. Amount of cach premiums received .., ~, ... ... ... $578,150.31
3, Amount of notes received for premiums ... ... :00 +oss 74,431.81
B DRUNINNR - FOOBETIR .oy s i N AN T 00 ik A pOF e 128,537.28
4. Amount of income from all other SOUrces ... ... ..s voe o 13,338.62
I TRORIE o 0 ssy phos nnl AON ST AV ORB TGS $794,467.97
V. DISBURSEMENTS DURIN%THE LAST SBIX MONTHS OF THE
EAR 1917, ‘
R FDENAD DM N s sha Ber s e ik g ..373,409.1} |
W N cor cesiisia ana R s e e il |
8. Deduct amount received from other companies |
for losses or claims of policles of this compa-
DY TRENIRE i ane eAt aau gt sl N EEE S 8
Total amount actually paid for losses and matured en- 4
CT TR eReRPe LI BR e $65,909,14
4. Gnnulmlu 395 AW ORE 9 e R bRI voaw e S e 1,610.00 .
5 IR DIRMRGE “ss 2 a 0 saß Sored mes THs 0% Neos wes 11,“i.%l
6. Dividends paid to Yollcy holders or others ~, ... ... ... 57,841.29
7. Expenses pald, including commissions to agents, and offi- {
BUTNE DRARIEM, o 005 OaBIR s € e e s Bre M.,M!.}T‘
By TR BREE .5 h cvn has A EELLOPNE v e Pesiewhonidhs 5,670.14
h.. All other payments and oxpenditures ... ... e« cos 42, "'°“‘"i
kIY e e
TRAEE DI UPIIRIIIN soi xs svsans s waeives ey 888,407.88
Greatest amount insured In any one risk ~.. ~ $10,000.00 ‘
Total amount of insurance outstanding .. .. ~ 86,518,647.00 |
A copy of the Act of Incorporation, duly ocrtified, is in the office of the
Insurance Commissioner, |
STATHE OF, VIRGINIA~-City of Richmond:
Ponounz appeared before the undersigned Roy M. Jones, who, being
duly sworn, deposes and says that he is the Secretary of the Atlantie Life
insurance Company, and that the foregolng statement is correet and true.
ROY M. JONES, Secretary,
Sworn to-and subscribed before me this 14th day of February, 1918, i ‘
ST R . WALTER CHRISTIAN,
Clerk of the Hustings Court of the City of Richmond, Va.
SUNDAY, FEBRUARY 17, 1918
Buying Increases After Call, Car
rying Values 11 to 16 Points
Net Higher.
NEW YORK, Feb. 15.—The c¢otton
’market opened steaay today, with
?’rlcea at a net gain of 3 to 16 Poinu.
‘Demand increased after the call and
ivuun rose 6 to 9 points above the
initial range. Trade houses and
shorts were the leading buyers.
| ”R':{oru of rains in Texas had little
e .
The market continued firm in the final
‘hour. The close was steady at a net
‘advance of § to 14 points,
. NEW YORK COTTON FUTURES.
Clelglylyl 3
flylyl B B
Mr [30.13(30.56]30:4336.30/30. 10 -20(30.08-11
’A‘, ‘luli 38.7)
y |20.65 29.79/29.65 a.vav;:.'r +74/29.63-63
Je 'xR :zo.n
Jly [29.15!29.80/29.16129.21 ‘9.21-” 20.07-08
BF 1 sces l 8.94 28.81
68 \o3o-1i b 6008 1 804 ok 4155
De figg@o’nifini»@nfia 84
Closed steady.
NEW ORLEANS COTTON FUTURES,
sl gl 218
' - =
s ml 3
BRI B&soba A & adfr At ne .....‘;.,70-"_ |
Mr [29.09/29.28/29.v8 29.28(29.28- 12¥.05-01
A !gzs iz 05-07
My 3641136 7312868 |25.73/38.70- uas-sg
I L ..,..Ig.n-wn.ac-s
Jly 20.1(4!8. g:.lfi 28.25(28.23-35/28.10-18
Oc [26.98]127.13/26.98/27.06/27.08-10/26.91-94
De |26.97|26.97|26.97/26.97/26. 96-47/26.81-83
Closed steady.
et gl e
ATLANTA COTTON SEED PRODUCTS
Cn‘?o 011, basis prime—February and
March, 17%.
Cotton seed, 7 per cent ammonia—
February and March, 47.50,
Cotton seed meal, 7 per cent, Geor
fln commoa rate point—February and
arch, 47.50.
Cotton seced hulls, sacked-—February
and March, 24.00@24.50.
Cotton seed hulls, loose—February and
March, 19.50@20.00.
mntar: elean mill run—February and
March, 4% @5.
MONEY AND EXCHANGE.
NEW YORK, Feb. 16.—Sterling ex
change was steady with business in
bankers' bills at 4.75; 6-16 for demand;
4.119‘ for 60 aays bills and $470 for
ninety days’' bills.
wmmwm
i Fertilizer Materialsi
Corrected by HARRY COHEN,
United States %od Admlnm.n’lu Ll
cense No, G-27360.
Vitrate of a, 95 cent, ex ves
ut 100 un::.‘ $4 4.46; futures, 100
pounds, awl.“. m
| fi?‘lphno 1% m-o{nu."bulk,’z lc 0..z11p.
‘ more, pounds, §7. 1 H .
te of monia, kz 0. b, Néw
Rork, 100 ’p%‘undo. .1.0*16‘1. b
Blood, o. a. 1. Atlanta, bulk, per unit
ammonia, $7.16; tankage, f. ?b, ct.-
sago. bulk, per unit gmmonia, $6.2
6.85; tankage, f. o. b. w York, bulk,
per unit, ammonia, “.0566.50.
Nebraska potash, c. a. f, Atlanta, per
unit potash, $5.40.
Camp Gordon manure, f. 0. b. Atlanta,
per ton, neminal,
Ac ho-rh&u. ¢a, f. Atlanta, bulk,
per gn? §l6.
’{‘:ahocohltgl‘u.wo. a !.tAtlan;a.‘.po‘r
un otash, $6; tobacco stems. c. 3
Au;ntn. r unit, ammonia, a.ao.
”guw bc?noo meal, f. 0. b. Philadelphia,
.a ,¢.& f. Atlanta, 1,000, $325.
Eo’: bean meal, f. o. b?.fi'. C. wf:.m.
Do cont otaah TLI per wail; L 1 pet
per cent ’ N unik;
cer;'t ;vdhfio phocphor’::cld. ‘ll}B g::
unit.
Peanut efl, zl.fl. in buyer® tank cars;
in barrels, $1.39, MP furnishing bar
rels, price f. o. bl mill
Pum‘t hay, m.(‘o f. 0. b. Atlanta.
Velvet bean meal, S4O f. o. b. Atlanta
Peanut meal, $47.60 per tom f. o. b.
Atlanta.
NEW YORK COFFEE MARKET.
Coffee quotations:
Opening. | Closing.
SRRETY. 5 « o + M *sasmweese .63@ 8.65
)luoh“ ry Tus% o] sedemecss ;.91 @ 7.93
fi:vfl. i v s .0 sl asssmavss |2O BN
B sy sOB .50 erammrisd A 0 B 0
SN, soa s sliciameess IRNT 00
July. , .+ .. s.ls@ 8.20 8.28@ 8.2
DUBHIE 5 20 aol frs3ks 0581 i.ts ug
September. . . .| 8.30@ 8.40| 8.41@ 8.4
G s 5 o b reesminee | OSSR 848
November ..o of seseeeese. ggl @ 8.58
December . . ..| $.45@ 8.50| 8.56@ 8.5%
ATLANTA COTTON STATEMENT.
“Saturday. Bales
ROCHIPES +-eceopsscnprsssesncensses] 979
Shipments ....secesesesssssccessss] 1,486
B =5 shsct st itWasonrtasiesests IEIED
COTTON SEED OIL.
Cotton seed oil yuotations:
Clodng}.
BRO .. 25 o 0 45 00 o 0 beae 2+ BRIED
FOUPRAIE oo o 5 65 00 oo »s « DETO NI
BAPERS, 55 03 00 se ap oo iR W 4
PPI o 6 oilas ks be ee He o« DD SN
MBY .y s eo oo 00709 se oo +.30.80 DI
GBI 26 o odins e sk iy 2RN P 8
Cloged steady., Sales 200 barrels.
SEMIANNUAL STATEMENT
For the six months ending December 31, 1917, of the condition of the
® . 2
"
Pan-American Life Insurance Company
OF NEW ORLEANS,
Organized under the laws of the State of Louisiana, made to the Governo!
of the State of Georgia in pursuance to the laws of said State.
Principal Office—Thirteenth Floor, Whitney Building, New-Orleans, La.
I. CAPITAL STOCK.
1. Amount of ecapital Stock ... iiv.vr 250 oes ese sae weo $1,000,000.00
2, Amourt of capital stock paid upin cash ... .«. sse vae «.™ 1,000,000.00
11. ASSETS,
1. Market value of real estate owned by the com-
PANY. 50 00s sse sav sa9 '8 2480 200 20010850409
12 incumbersd, 10 WhAL AMIOUNE, i« 204 09e s rro ses $122,684.09
2. Mortgages (first liens) on ro%l SUEBED isr isa aiv ann wy - RATRSMLN
8. Loans secured by pledge of bonds, stocks or other mar-
NS DAIRRRNAR: 5 008 bisnsr bsorr il dik sans 17,500.00
4. Loans made in cash to policy holders on this company’'s
policlies assigned as collateral... ... ... ... ... ... 938,302.94
5. Premium notes, loans or liens cn pelicles in force .. .. 45,171.20
6. Bonds and stocks owned absolutely, par va1ue.51,423,661.12— 1,428,561.12
T CH 1 SRR OUE .op s vhe e srl st s 200.00
8. Cash deposited in bank to credit of company ... ... ... 200,070.92
9. Cash in hands of agents and in course of transmission .. 6,764.64
10. Interest due or acerued and uUnpaid ... ... ... soe sooee 105,989,11
30 AN DETNRNE oo s i a 0 ost 4BTAs A% Riwash sud. Vee 48,792.54
14. Net amount of uncollected and deferred premiums (deduc
tion 20 per cent for average loaning from gross
BRI U e WU ean rh e AR SE S ael b s b 103,413.68
15, All other agsets, both real and personal, not included here-
RO .0 e wiv e et eune Raar ol o T U 48,647.18
RS GRUPEE wow sne & 1 Doscarinved sae was woa v ~ae $6:231,188:42
1. LIABILITIES.
1. Net present value of all the outstanding poli-
GIOD 10 FRIRD. vav 2os nseitor soan oo oa 585 100.40400
Deduct net value of risks in this company, re
insured in other solvent companies .. .. ~ 172,867.02
Net PromiVln POPATYO 10, o o 6 20 sn-poss sen oor los $4,082,760.76
8. Death losses and mutual endowmegnts in proc
ess of adjustment or adjusted and not due. 48,858.58
4. Death losses and other policy claims resisted
DY he COMPRRY coe voe noe ‘0266 40 Hé mi's 37,463.67
TOU DINOY SIRITRE oov bee osiiv eve Lin Rt R 86,322,285
8. Dividends declared, but not yet due ... .v. .vc ses vos 34,997.78
10. Amount of all other claims against the company ... ... 481,991.86
3 Coph BAPIBY 71 902 401 Evs sodona son e she.nve we - 1,000,000:08
18. Surplus ovew All BaDIHEIOR «cv seavs vis oss 256 oßs oss 565,108.62
BT
Toth! HabDIMURE o 0 cor vericesnis wes “aiid asa vino 0 - DEBBRIGRNY
IV. INCOME DURING THE LAST SIX MONTHS OF THE YEAR 1917,
1, Amount of cash premiums recßivVed ... ... vee seevesess $814,676.21
2. Amount of notes recelved for premiumg ... ... oo .. 28,638.04
8. Interast A NI TIRBIVOA .o. .oinv sov cor seh ass we 158,861.22
4. Amount of inceme from a.ll‘ OLRAY BOUPOME &oa sos soi: irss 21,514.%4
WOLAL IDOOIND ooy far abaians oovsl sy gl Buatih ot AR eg RN
V. DISBURSEMENTS DURING THE LAST SIX MONTHS OF THE
YEAR 1917,
RTR A e G RL S TYy e
2. Matured endowments pald .. .... ..., .. .. 2,000.00
WOLM-cabe 200 Tha & aWeih Sipein: naites 1S TELO
2, Deduct amount received from other companies
for losses or claims of policies of this compa-
BY. FRIDPREAE 000 siv T ien dsvie an b 7,700.00
Total amount aetually paid for losses and matured en-
BRI o 0 sol g chpas isA e S S $111,051.62
L ONNRISERER i) ior vurints sabitire Y Al aliii 240.00
5. Purrender policies and all other payments to policy hold-
OO Yee eR s e g e 168,638.27
6. Dividends paid. to policy holders or others ... ... ... ... 6,464.39
7. Expenses paid, including commissions to agents, and offi-
OUEN ORIRNIINE ooy vy o b Lpagpa o TR 897,677.08
BORABE DR 3] ihh av saah oaiiheh e e B TR AT 18,949.03
Ol SUODNCBOMANES ;. o 0 20sier sae shs soa PR m
Greatest amount insured in any one risk .., ~ $200,000.00
Totael amount of insurance outstanding ~ .. .... 47,833,591.00
Of which $190,000 is reinsured.
A copy of the Act of Incorporation, duly certified, ig in the offioe of the
Insurance Commissioner.
STATE OF GEORGIA—County of Fulton: .
Personally appeared before the undersigned A. J. Shropshire, Jr., whe,
being duly sworn, deposes and says that he {s the (General Agent of the
Pan-American Life Insurance Company, and that the foregoing statement
is correct and true. A. J. SHROPSHIRE, JR.,
General Agent.
Sworn to and subscribed before me this 16th day of February, 1918.
MAGGIE E. HUMPHRIES,
Notary Publiec, Fulton County, Georgila.
‘ T e ———
;Al |J- SHGROII S“IRE’ jRn, i
632-633 Healey Building Atlanta Ga.
l TS :
|
e :
Shorts Active Buyers—Final
- Prices Up Moge Than One
-7 Cent—Corn Dull, }
| CHICAGO, Feb. 16.-~Reappearance of
unfavorable weather conditions are ex-
Degted to check the movement of graln
to markets gave a firmer tone to the
market in oats at the opening here to
day. There was some scattered buying
and a littlé short covering, but offer
ings were small and trade light
Strength in hogs and smaller receipts
caused scattered buying orders was
found offerings light and made a higher
range In provisions. Opening prices
were well ahove the previous close,
Loecal traders bought corn at the
opening, but the market was featureless.
Prices at the start were about unchang
ed from yesterday’s finish.
Corn closed %to 3% higher. Onts
closed 13% cents hifhrr and provisions
ended with all monihs sharply up.
Graln quotations: -
High. Low Cloum(;l‘:::-
Mareh Ty oy 1278 : 197 .1:1
arch.. 1. 2 . .
May ot Ihe 18% I%g 134
March . 887 84% 85%
arch. ...
u?yifi'li" m/Z 821 83% ’&
ORK
May.... 48.00 41.78 47.99 41.67%
LARD—
May.... 26.25 26.17 26.20 £5.0%
July.... 26.17 256.90 26,10 26.85
RIBB—
— 235.87% 26.15 25.27 25.07%
July.. 2580 26.58 25.65 25.35
CHICAGO CAR LOTS.
CHICAGO, Feb. 16,—Following are re.
ceipts for Saturday:
Wheat .e.ccosseecsessrssssscesaccen 5
I osn o dsveosbetinesnshs sngseegusvy DER
BOAS ooshninesvenbohs ddnnneiyonsnsinl s IRO
_Hoga M B PSSR PR TR (R
CHICAGO CASH GRAIN.
CHICAQO,I\ Feb. 16.—Corn, No. 5
white, 1.65; No. 6 yellow, 1.45@1.50; No.
6 mixed, 1.30@1.38; No. 6 white, 1.55;
No. 6 yellow, 1.33@1.45.
Oats, No. 3, white, 88@89¢c; standard,
88% @891%%c.