Newspaper Page Text
8C
THE SUNDAY AMERICAN'S FINANCIAL AND COMMERCIAL PAGE
Bears Hammer Values Down More Than 100
Points, While Support Lags,\Despite Mass of
Bullish News—Climatic Conditions Dominate.
; By VICTOR BARRON.
Upholding its tradition for this
particular season of the year for dom
ination, the weather map held cotton
bulls in check last week and injected
new life Into the bears' rank, which
dally was being deserted, and enabled
them to turn what promised early in
the week to be a runaway bull market
into a brilllant victory for themselves.
Had 1t not been for warm, sunshiny
‘weather, with a most favorable week
ly weather report of the season
thrown in for good measure, final
quotations last week without doubt
would have ben reversed to what they
really were—lol to 136 points below |
the previous week’s close in New York
and 77 to 127 points down in New
It was nothing but clear skles and
the fallure of the predicted cool wave
for the western belt to materialize
and the above-mentioned report that
caused the market to break. With the
possible exception of a growing belief
that the initial condition report of the
‘season will be higher than recently
expected, every development during
the week—from a market standpoint
~-sparkled with bullishism,
Some Bullish Developments.
Here are a few fundamental events
that tempted the bulls, but they lacked
courage to make use of them:
Decidedly oversold condition of
the market.
Cheerful war news.
Soaring prices of all securities.
Continued strength of spots,
Demand - for offgrade cotton,
owing to insignificant offerings
of desirable staple.
Heavy Government and civilian
orders for goods.
Rumors of considerabiy more
ocean freight room for shippitig
cotton.
Cotton famine in Lancashire,
where mills are swamped with
Government war contracts.
Lack of labor to replant area
necessitated by recent heavy
rains, frosts and cold.
801 l weevil appearancs in Geor=
%.t-th all the foregoing decidedly in
thelr favor, the old bull crowd lagged,
fell down on the job, or had cold feet
or something radically wrong with
them. In other words, they lot a few
days’ of bright weather take away all
their grit. \ 1
What if the bulls in Wall Street let
such a trifling thing knock the trig
ger from gilt-edge stocks? Not, it's
war-shock-proof and ‘suybject to no
bearish attack, except based on some
strong unfavorable news from the war
front. Why? RBecause practically all
securities are selling out of line with
their urnlngl and because the Gov
ernment is back as big business and
Delleves in keeping PROSPERITY IN
THE AIR. \
Why Depress Cotton? ‘
Isn't cotton as sessential as steel,
petroleum, leather, tin cans, ice, cop
per, etc., In winning the war? Then
why try to knock cotton down within'
g::ht of an absurb price of 20 cents‘
t because a fgw days of sunshiny
weather might improve the eondition
of the staple as of May 26?7 A con
dition on May 25 extremely high does
not mean anything. Can't a wet June
or a hot July and August and an early
frost play havoc with the most pro
pitious chance of a bumper yield? But
net one expeots the South to raise a
big cotton crop this year--not more
than 14,000,000 bales, ®ven taking the‘
bulls’ largest flgures. The South &8
raising something else this _vm:} be~}
sides cotton. It's endeavoring td pro
duce ENORMOUS FOOD crops that
our boys at the front, cur allles and
the home folks can have something to
eat. And, by the grace of God, the
South will raise her share, weather
K:-mltting and labor sufficient to
vest them.
Bears Have Little Argument.
I can't possibly see where the bears'
argument comes in. In fact, they
haven't a fundamental argument.
Have they? Well, what is it? All
one can hear from this element is
small exports, less consumption and
big crop—three insignificant utter
ances. Why, I gave ten reasons far
ther up in this article why the bulls
should have kept the market up. ach
one of them is more substantial than
the three I just named.
Just because the recent statistics of
consumption for April were a little
Jess than a year ago it doesn't mean
that the total consumption figures for
the season will be less than a vear
ago. Many close followers of the mar
ket contend that the final figures for
the season will be in excess of 1917'5.
The export outlook is much brighter.
Strong rumors have it that large ex
m. are pending for the near future,
there's lots of cotton waiting to
. go overseas, which, if it does, mean
that total exports for the seasgn
might yet make a decidedly better
gomparison than expected,
An Alabama authority states that
the crop is three to four weeks late,
mcnt conditions unsatisfactory and
i r a serious question. A Texas
authority places the State's planted
area 99.3 per cent of last season's,
with 70 per cent of the crop planted
&nd 41 per cent up, with the season
~ about eight days late.
- Crop Condition by States.
- Here’s the Government's summary
.:tho condition of the crop in each
aortant cotton State:
- GEORGIA.—Warmer weather has
- fmproved cotton; planting is finishedq,
e the replanted cotton is germi
‘ ng well. Chopping is finished in
~ the southern and beginning in the
g.n.h.r portion of the State. Weevils
e Al:XßAMvAa—Cotton is improved
hat. Stands are irregular,
¥ from poor to good; some
2 up and planted to corn or
crops. Chopping is becoming
g‘,}‘ in the southern portion.
- MISSISSIPPI.—With the warmer
- Weather, corn and cotton are growing
] have generally recovered from
. the previous cool weather. Most cot
is up and chepping is proceeding.
. ARKANSAS.—Excessive rains did
- much damage ffom th%‘western por
. %lon of the Arkansas Valley to the
~north ern corner of the State. Cot
%on is nearly all rlanted in all por
io and is coming up nicely. A
‘ ?
! Business Barometer ;
i T 5
§ That prevailing sunshiny
| weather has brought fresh ac- g
$ tivity in all lines of business ¢
! here is evidenced by last
{ weekls statement of the looal
¢ Clearing House Association,
; showing that clearings through
é the Atlanta natioral banks for 5
; the week totaled $45,255,398.75,
{ @as oompared with $24,539,-
§ 069.38 the same week a ‘year
; ago—a gain of $20,716,329.37,
considerable portion of the early cot
ton has been plowed up and the
ground planted to corn,
SOUTH CAROLlNA.—Especially
favorable growing weather. Cotton
has developed better stands; but re
planting continues extensively; chop
ping and cultivation are quite gen
eral,
NORTH CAROLINA.~Very favor
able weather prevailed, with benefi
cial rains the latter part of the week,
excellent for planting and germina
tion. The planting of eotton is near
ly completed and germination, thus
far, is satisfactory; but it is too early
to determine the character of the
stand; much replanting was neces
sary in some southeastern counties,
owing to damage by heavy rainfall.
TENNESSEE.—Conditions were
quite favorable for growth and fairly
80 for planting. Cotton is mostly
planted and early pianting is coming
up fairly well.
FLORIDA.—The dry, warm weath
er has been favorable for work, and
most crops are cleaned of grass, but
unfaverable for cotton. There are
complaints of poor stands, bad color,
slow growth and boll weevils plenti
ful in some portions.’ All crops need
rain.,
LOUISIANA—~Thoe weather was
very favorable except the last day,
which was too codl. Needed cultiva
tion has been rushed. Cotton has
improved zreaufi; it 1s falr to good
except in localities, where it {8 poor;
chopping is general.
TEXAS.~—The warm, sunshiny
weather was favorable for plant
growth except in the western and
northwestern counties, where the lack
of moisture and hot winds were detri
mental, “In East Texas the wet sofl
delayed farm work the first half of
the week; planting and cultivation
progressed favorably during the lat
ter half. Cotton is normally @ ad
vanced In the south, late elsewhere;
muech planting and replanting are yet
recnired in the north and wwest.
OKLAHOMA —Warm, clear weath
er during tho first part of the week
was favorable for all crops in the
north-central and eastern portions,
where soil moisture was sufficient.
Scant moistdure and hot winds caused
considerable damage in many locali
ties in the south-central and western
portions; but moderate .rains during
the latter part of the week gave tem
porary relief. Cotton is coming up;
stand fair to good; planting contin
ues In north and west.
Entirelv a Weather Market.
There is little more to add to this
review. There was renewed buying
by trade houses, covering by Wall
Street shorts, buying by spot firms,
Liverpool and less selling by the
South. Offerings came chiefly from
tired longs, professionals and wire
houses.
The big rise In stocks, optimistio
war news and other bullish news had
only passing effect on the market.
Each spurt was followed by renewed
pressure and subsequently lower
prices.
Hester's weekly statement showed
mill takings for the week of 120,000
bales, against 227,000 a year ago, and
exports for the week of a little more
than 10,000 bales, against more than
39,000 bales a year ago.
On the whole, it's entirely a weather
market, and will continue to be so un
til the season is further advanced.
Week’s Range
In Cotton
Following shows the highest and low
est prices of active cotton options on the
New York and New Orleans Cotton Ex
changes last week, together with Satur.
day’'s close and net changes from Fri
day’s close; also below net changes for
the week:
it NN VORI o
- H | ‘ Sat. lNet
2 . High.| Low.| Ciose. | Ch,
BN .1'27.02;125.0&‘35.04-09—11
A .j‘26.70r§24.65; 4.94.95/—ll
October. . . . .[*25.75123.8024.08-10|— 4
December . . .’\*25.81i§23.70‘23.98-24—4-
January. ... .|*25.73/123.60|23.86-89|— 4
i RN ORLRNR
5 { x Sat. ‘Net
LT e ngh.\ Low.| Close. | Ch.
May . . .. . .|*27.03/{25.14/24.564 |— B
RNI h ."&.96}124.14 24.53-55/— 5
October. | . . .|%24.86/122.9823.22.25/— 8§
December . . .!'24.69;;22.73 22.86-98 — 4
January . . . .[%24.31/122.50/22.86.88 — 8
*Monday; tWednesday; tSaturday.
Net changes for week:
MO, oo it e ..1013‘135
Now Orleans., ‘.. "ws <o os ui oo TTQ@IRT
.
Copper, Is Belief
On May 22 when the copper producers
agaln meet with the War Industries
Board to consider a price on the rfi
metal taking effect on June 1, a
agreement will be reached, according
to impertant stree? interests, on a price
.or 251;; cents a pound. The present price
48 23% cents a pound.
HEARST’S SUNDAY AMERICAN — A Newspaper .or People 'Wno Think — SUNDAY, MAY 19, 1918,
§.’ 1 E
F imnancial |
{
§
’g By STOXAN BONS.
AA A A A AP ANANPAPL,
Following Is a brier day-to-%ay sum
mary of the most essentlal financial
news made public last week:
MONDAY, MAY 13. |
Atlanta ~ spot cotton advanced 13
poifts to 2%%c.
Atlanta bank clearings, $10,150,006.12;
last year, $4,644,249.71.
New York cotton futures closed 40 to
51 points nigher, Rains in the eastern
and central belt, together with firm Liv
erpool cables and bullish spot news,
caused the advance,
New York Stock Exchange cloesd
strong. Vigorous buying sent all issues
Into ne high ground for the year, with
American SBumaltra soaring more than
$9 a share to 1257%. Industrial Alcohol,
General Motors, Distillers’ Securities
and Steel Common scored big gains, the
latter reaching 112.
Chicago grains closed more than 2
cents higher, as a result of light offer
ings and short covering.
Pacific Mail declared 50 cents a share
dividend and extra of sl.
Further restrictions were put on ex
ports from the United States to con
aer\;e malterials and labor and tonnage to
eet.
’ Unlon Pacific reported increase in net
operating income for three months end
‘ed March 31 of $1,354.706.
TUESDAY, MAY 14,
Atlanta bank clearings, $5,849,841.76;
last year, $3,5647,485.78.
Atlanta spot cotton declined 5 polints
to 29% cents.
~ New York cotton closed 91 to 110
points. Heavy selling and lack of de
mand, based on bearish Government
cotton statistics for the month of April,
caused the decline.
New York Stock Exchange closed ir
regular, Vigorous buying, based on rate
increase, sent all rail issues sharply
higher, with New Haven, ['nion Pacific,
New York Central, Canadian Pacific,
Soul;ern Pacific scoring the greatest
gains, Steels were under pressure—
realizing.
Chicago gralns closed irregular—corn
hlfiher and oats lower.
egular qguarterly dividend of % per
cent was declared on American Sugar
Company.
Rumored that the Southern Railway
would pay 4 per cent dividend on com
mon atoci under Government control.
Raflroad administration officials said
the 256 per cent increase in rates is nec
essary to meet increased cost of opera
tions
McAdoo ordered curtailment of pas
senger schedules from Chicago west. It
Is expected to result in saving of $lB,-
000,000 a year,
Charles Schwab gylanned to Increasa
United States shipbullding program 60
per cent,
bl 'WEDI\tIEstDIAY,dMAY 15,
nta spot cotton dro
toAztil.fiS cents. RS W pomnte
anta, bank clearings, 8,156,979.10;
last year, $4,625,606.91. ! el
New York cotton closed 47 to 58 points
lower. F‘nvorahl{wvok]y weather report
and absence of “demand caused the
break.
New York Stock Exchange closed
strong. Continued - heavy buying and
limited offerings, based on cheerful war
news and the Government's attitude to
ward business, sent all issues sensation
fl“gohlkhar. aldwin Locomotive soared
$9.50 a share to 97.
Chicago grains closed higher. The
market was easier early In the day on
favorable weather conditions.
Government’s weekly weather report
was the most favorable of the cotton
season. ,
Cuban-American Sugar Company de
clared usual quarterly dividend.
THURSDAY, MAY 16.
mAztshwta spot cotton advanced 25 points
Atlanta bank clearings, $6,747,927.15;
last year, $3,963,772.68.
New York cotton futures closed 2§ to
50 pointg higher. Heavy buying by
ghorts and outskle itnerests, based on
bullish spot news, predictions of cooler
weather and fresh peace talk, caused
the advance, which at one time during
the day was 66 to 77 points.
New York Stock Exchange closed
weak. Tremendous buyimi orders car
rled, all leading issues into new thh
gound early in the day, with Baldwin,
idvale, U. 8. Steel common and other
steel industrials rising 3 to more than 6
}m!nts. HeaVy realizing during the clos
nfi huor wiped out the entire galn,
Baldwin falllnr from 1013 to 95%.
Chlca%o graing closed irregular.
Interatate Commerce Commission re
port showed railroads of country earned
%.705@0 in first quarter of 1918,
Reported that negotiations were under
way %’r acquisition by Canadian Govern
ment of Grand Trunk Railway and
Grand Trunk Pacific.
' FRIDAY, MAY 17.
| Attanta spot cotton was quoted un
changed at 28.90,
‘ Atlanta bank clearings, $7,959,934.13;
last vear, $3,985,695.68.
Five Aflanta national banks, comply
‘ing with the Comptroller’s call for con
ditlong as of May 10, reported an ag
gregate deposit of $65,249,663,77, agalnst
‘§3,876.410‘82 on the same date a year
‘azo. Including the Central Bank and
Prust Corporation's figures, the deposits
amounted to $73,696,779.71, against $49,-
'844,442.99 last year.
" New Yorkcotton futures closed 30 to
63 points lower. Bear weekly statisties
and favorable weather caused the break.
New York Stock Exchanfe closed ir
regular. All issues scored vigorous gaine
with Marine Rreforred showing the
greatest strength. Realizing on a large
seale trimmed top levels before the
close.
Chicago gralns closed Irreguiar. Trad
infi{ was small,
- Mextean Petroleum declared quarterly
‘divldends on both the common and pre
ferred stocks.
Steel committee of the American Iron
‘and Steel Institute confered with war in
dustries board on control and distribu
tion of steel output.
Swift & Co. sold ex-dividend 2 per
cent, also 256 per cent extra.
SATURDAY, MAY 18.
Atlanta spot cotton declined 10 points
to 28.80 cents.
Atlanta bank clearings, $6,390,620.49;
last vear, $3,772,268.65. For week, $45,-
255.308.75; last vear, $24,539,069.38.
New York cotton futures closed 1 to
11 poinis lower. After decline 40 points
for July, the marked rebounded on bull.
ish spot news.
New York Stock Exchange closed ir
regular. Marine preferred soared more
than $4 a share to above 104 and cheer
ful news regarding British tonnage.
Other issues of this character advanced.
Steels reflected profittaking, but show
ed strength near (.ge close.
Chicago grains closed irregular for
corn and 11§ to 1 cent higher for oats.
Third Liberty Loan oversubscribed 39
% cent. Total subscribers over 17,000,
Special meetings of Mercantile Ma
rine directors to be held frequently in
connection with negotiations for sale of
company's British tonnage, whehi
lPreaident Franklin asserts is progress
ng.
Bradstreet's review sayvs growth in
war business is in broader demand for
civilian goods; improved retail trade;
further ease in transportation and ex
cellent erop report stand out as prin
cipal factors in budget of encouraging
news.
MONEY AND EXCHANGE.
NEW YORK, May 18.--Money on call
thlst week ruied between 6 and 3 per
cent.
Time money was dull, with lenders
reluctant to part with funds. . Rates 6
per. cent, iy
Mercantila paper was also dull, with
best names at 5% to 6 per cent.
ICur’tament in British Consump
tion of Staple—Exports Held
' Up on U-Boat Rumor,
NEW YORK, May 18.—Cotton was
unsettled today but mnnished firm.
Liverpool cables that the British
board of cotton control would re
duce the working time in the mills
frem 56 1-2 to 40 hours a week, cut
ting the consumption of American
‘(,ctton to 35,000 bales weekly, against
a previous rate of 48,000 bales, and
‘:L good weather map caused heavi
rness for a time.
Initial quotatißns were 2 to 20
points lower. ILater there was a
brief rally, but spot house and Liv
lr-rpool offerings followed and prices
displayed weakness for a time, In
the final hour covering rallied the
'list about 25 points, the close being
at a net decline #f 1 to 11 points.
’ Reports from New Orleans that
Gulf shipping had been held up owing !
to unconfirmed rumors of a subma-‘
rine in that vicinity had an unset
tling effect. Week-end crop ad
vices made fairly favorable readinz
~and although rains in the eastern
belt cauge some delay in farm work
the crop appears to have made con
giderable progress. Reviews of the
dry goods situation indicated a grow
ing scarcity of goods for civilian
needs and a generally strong tont to
the market.
Receipts at the port for the day
were 9,000 bales, against 4,615 a year
ago. The Chronicle estimates the
world visible supply at 4,118,325
bales, against 4.090,430 a year ago.
Spot was quiet at 10 points lower
at 26.556; no sales. New Orleans spots |
were unchanged at 29.25; sales 3,653,
Receipts at - Galveston were 1,265;
New Orleans, 3,825, and St. Louis
12,377 bales.
NE\N YORK COTTON FUTURES.
‘ li%en_._lfll_xm—;w—, |l.Balel Close. IPrv.Close.
My |25.08]25.08]25.00/25.00]25.04-09(25.15-25
B 8 Lot chni B BT
Jy 1256.00{25.05 24,65}24.90'24,9\4-95 25.05-07
Ag vabalivs sol s vnnd i o]o 06 24.75
Sp s omalad et ialas oBN B 8 24.42
Oc L-{O.") 24.21t23.80}24.09‘24.0‘2-10}24.12-19
Nv |....(’..4.,....]...‘24.03 24.07
De ]23.921 4‘0.'»‘23,70124.00!23.98-24‘24.02-05
Jn [23.86(23.87|23.60(23.60(23.86-89123.90-93
Fb ‘ « \ \ ....‘25.76-78123.80
l\»dx‘_ 23.62|23.65 23.&23.65 23.66 23.69-70
Closed firm.
NEW ORLEANS COTTON FUTURES,
[Open. [High.| Low. [L.Salel Close.” [Prv.Closs.
My |l T 50y s s
Jo | \ vevel eonsl 0v.0]26.53-55/26.58-60
Jy [24.45|24.65|24.83(24.54|24.53-55|24.55-56
Ag 1 ....24.43-4524.43-454
Oc ]23.26 23.34,28.03’23.22 23.22-25(23.30-32
De ]22.90{23.08]22.80/22.9722.96-88]23.00-06
Jn ....{....\....‘....22.86-8822.94-98
Mr |.ooooloeee]euad ....]22.76-78122.84-86
Closed steady.
3,953,885 Tons of
WASHINGTON, May 18.—Census re
port for period from '?ugust 1 to April
30 shows 4,121,673 tons of cotton seed,
less reshipments, received at mills and
3,953,885 crushed; also 201,715 held at
mills April 30. Production, crude oil
1,211,635,642 pounds; refined 1,007,887,195
pounds; cake and meal, 1,912,805 tons;
hulls, 911,870 tons; . linters, 1,036,801
bales; hufl fiber, 212,896 bales. Stocks
April 30, crude oil, 121,495,221 pounds;
refined, 339,256,970 pounds,.
Cotton sebd Treceived at mills and
crushed April 1 to 30, and on handd April
30 by tons by States:
Received Crushed. On hand
at mills. ‘ at mills,
Alabama ... 173,876 169,240 8,671
Arkansas . . 291,208 259,984 33,101
Georgia . ... 744,417 691,508 58,363
Louisiana . . 195,621 191,221 4,553
Mississiprl . 404,555 385,661 23,024
N. Carolina . 255,097 244,196 11,217
Oklahoma . . 303,602 289,434 15,123
S. Carolina . 330,450 318,009 13,906
Tennessee . 210,129 209,597 8,700
Texas .. ..1,104,336 1,003,584 19,145
All other . . 108,352 102,451 6,012
SPOT COTTON.
Adlanta Commerclal Exchange quotes
good middling, 28.80; sales, 250 bales.
Atlanta Warehouse Company quotees
good middling, nominal, 283;.
Liverpool, middling, 25.0’1'(1.
New York, middling,’ 26.55.
New Orleans, nominal; middling 291;
sales 2,763 bales.
Augusta, nominal; middling, 28%.
Sales 118 bales.
Philadelphid, quiet; middling, 27.55.
Savannah, steady; middling, 33.%.
Boston, steady; middling, 26.70.
Little Rock, steady; middling 30c.;
sales 532 bales.
Houston, steady; middling 17.75; sales
203 bales.
Montgomery, middling, 29%.
Dallas, nominal; middling 28.85.
Mobile, nominal; middling, 29.
Memphis. steady; middling 30c. -
St. Louis, middling, 30c.
Galveston, steady; middling 28c; sales
103 bales.
Norfolk, steady; middling 30c.
Charieston, middling 321%.
Wilmington, middling, 30c.
ATLANTA COTTON SEED PRODUCTS
l7%rude oil, basis prime-—May and June,
Cotton seed, 7 per eent ammonia—
May and June, 27.50.
Cotton seed meal, 7 per cent, Georgia
:;)r:snon rate point—May and June,
Cotton seed hulls, sacked—May and
June, 25.00@25.50.
Cotton seed hulls, lopse—May and
June, 20.00@20.50.
Linters, clean mill run—May and
June, 4% @5.
COTTON GOSSIP.
The first cotton condition report of the
seasony will be issued by the Department
of Agriculture at 11 o'clock June 4, in
stead of June 3, as previously announced.
* * -
Latest crop reports to the Southern
Products, of Dallas, Texas, indicate that
acreage is 993 per cent in Texas com
pared with last year. Seventy per cent
of the crop has been planted and 41 per
cent ‘\{s up. The season is about eight
days late.
- L
Wadesboro, N. C., advices state that
the crop is getting a bad and late start
in that State. Hundreds of farm hands
are being drafted for the army.
- * »
Acreage has been reduced 25 per cent
in the vicinity of Bristow, Okla., says ¢
wire from that point.
- - -
Much replanting is necessary in Nort]
Carolina, according to reports from tha
State. Little cotton is up and seed ;
reported to be scarce. .
|* * »
~ Georgia 4dispatches state that practi
~cally all of the cotton planted from April
i 7 to May 1 is being replanted owing t«
poor stand and lack of seed germination.
Possibly one-half of the cotton planted
in the county has a good stand.
New York Stock Quotations
SATURDAY, MAY 18.
Market closed irregular.
Total stock sales, 508.500 shares.
Total stock sales for week, 6,885,400 shares.
Total bond sales, $3,030,000.
Total bond sales for week, $45,835,000.
Following shows the highest, lowest and closing bid prices on the New
York Stock Exchange Saturday, together with Friday’s close:
Clos.|Prev.
Stocks— High| Low.| Bid |Cl'se
Allis-Chalmers . .| 337%| 33%| 33% 33§
M 0 DEeL . Ll eoliiies) B 85
ARG UZanE L. 0L M SR S 10 T
PR L W i e R 47%
SE BENE iil il B 84
G 0 pees. . Ll La) vaied TR IR
Am. Beet Sugar .| 74 |74 T 4 73
80, Brel- o vl vob Tl 83
Am. Can......”". .| 49%| 48%%| 48%| 48%
Ho. pret . . o ciciliie RIS
Am, Car Pdy. . .] T9%]| 79 | 79%]| 79
80, DYt 5. D dat Nl 00 T O
Amg. Cotton Ol & § S 5 i) 8L 3614
flo. peel. . . b ol s R 78
Am. Yoeo. . .....] 68 67%| 673%! 67%
A 0 PP o sl il it FUERL FIN
Am, Smelting . .| 82%| 813,| 817%| 87%
GO Pt e ]l s 08 KlO4
Am. Steel Fdys. ' 668 | 6634| 6634| 6734
Am. Sugar Ref. .!114 [113%/114 (1133
do gref .. .| sl o 0 10
Am. T. and T. . .| 98%]| 9815 981%| 99
Am. Woolen.. . .| 56i4] 56 )66 56
Am. Linseed.. . .| 33%| 33%/| 33%| 35%
a 0 peatic. i . LEs ' 1881 -...5
Atl. G, and W. L. [111%(110% 1113110
do. pref. Par o] seee] een 62 62%
AN By and' Tl of soagl vaai] 18 13
do. pref. . . .| 63 62%| 63 621
A, MAIY Cor..i ] o] s BT 19
80, prefi . v . sl v} i ASYL ST
AR, TODROBO. . v visi] v 10K 1458
Am, Writ. Paper .| ....| ....] 23%]| 23%
Am. Sum. Tob. . .[127 [126 [127 [126%%
B 0 PO - il i e Bee 99
American Ice . .| 32 |32 |32 321%
RO, DIGE . L slvl s il R 50
BIOY BLaBl . v bl e 80
Bigsks QOIA. ...« ol il vaaliagayid 1}?
Anaconda.. ~ . . .| 68%]| 68 ! 675 | 6814
Atchison . . . ...| 85%/| 85%| 86514| 861}
80. prel . ] et s LSS RS
Atl. Coast Line .1 ...l i.. 1 98 92
Bald. L0c0.... . .| 95%| 9214| 9354| 9415
do. pref... . .oof ..o va.. | 99881 993
B, and 0...... . .| 66%) 54%| 547%| 55
do. gref. (3w et sanal i 54:2 5415
Bogth TFisherien .| ....| ....| 28 25%
Beth. Steel ptd. .| ....| ....|lO6 [1063
do. pref. . . .| 893 881 89 891%
BB s O RRL R 4522 44
Batte Copper. .. b il il 0 e
Butte Superior . .| 25 23%| 23%| 25
Cal, Pet. . . . .| 18%| 1814 18%4| 19
QO. prel. . . @l wieddiveis] Ok
Can. Pacific..... .|l4B |14614114614(149
C.and O. . . ....| 58%| 585| 583 | 659%
0,00 E N W.. o] vt il 9L 8
GO, DM oo il ciar IR TATRE
Col. Fuel and 1. .| 48 47| 4T%| 48
C., M. and St. P. .| 456%| 43 | 43%| 43%
O W v a 1 74 .
Chino Copper . .| 45%| 44%| 44%| 45%
Con Oae-. o, Ll N 88 ‘
Corn Products ...| 41%]| 421%] 413%) 41%
O Pk . . i BB g
Crucible Steel . .| 70%| 6914| 69%4| 70%
QO BERE . i s d 90
Cu. Am. Bugar \..| ....] ..o 148 2 [l4B |
Cu. Cane Sugar .| 31%| 31 | 31%| 31%
BB . . sl il e 10 som
CRES Tran Plon |, L 1 0T Lo a 0 ] 168
Central Leather .| 69| 683%| 6914] 69%
do. press . o ... ....] +...]10878]008%
Chile Copper . ...| 16%| 16%/| 165 16%‘
Chandler Motor . | ....| ....| 8114/ 82
Columbia Gas . .| 33%| 331%( 331% 343
Cerr(_)-de-Pasco. .| 348, 343% ) 84%) 356 |
Continental Can . | ....[| ....| 72%]| 73 |
B Eel D L) G B 0 ‘
Del. and Hudson .|....| ....[IOB |IOB |
Distil. Securities .| 61 | 59%| 60 61&:
Erle. .... . .| 16%| 15%( 16%%] 16
do. Ist pref. ..| 32 |Bl| 32 32%
Federal Steel v . .} ... .. 8T 37
QO PEAIL S ST o] s ees] 4B 4722
General Flectric .[l6O [1491%/14915[150 |
General Motors . .|125%/1241%/124%5(125
do Eref. s sk i 3 9
Goodrich Rubber .| 44 |44 44 4415
AU, DPE .o x olaesilia s 008 8%
G. North. pref. . .| 91%| 911 915 913
G. Northern Ore .| 32%| 3214| 3214| 82%
Great Western . i 0.l .5, 'Hz 7221
80, Pref. . . 5. 3% BN
Gulf States Steel .| 88 |BB 86 86
Greene-Cananea .| ....| ....| 43 42 ‘
SRinols Central . o .oio] oussl 86 96
Insp. Copper . .. .| 56 | 54ag| 54%| 55
EBESFDOTO =« s oo} coie] ovas] 898 B%‘
0. orab . 4 el sl 4R 43«
Ind. Alcohol . . . .]132%/131 [132 [(130%
do. firef. wie Vel vt BB .
Int. Nickel :!. . .| 20%]| 29 |29 | 29%
Boc-prefl. ..v b i) gt 882 881,
Int. Agr. Corp. ..| 68 | 873| 57 65
Inter. Paper . &.| 42 |42| 42 .
do. ésref. Nl sl Ll A 190 }
K. C. Southern .| 18l 18%,| 18%| 18%
do, pref. . . il wadsl O FE
WE ARE ALL RIGHT
With the county facing vast ex
penditures for its military and naval
organizations, the fundamental finan
cial structure has been estabiished
upon ;, firm basis that improves with
each month. The monthly bulletin of
the Federal Reserve Board shows that
general business conditicns are very
active; that industry is expanding
and that money rates remain firm.
Labor is being paid well, and is re
ported in more settled conditions in
all districts.
The Third Liberty Loan has not
drained the banks of their strength,
being largely absorbed by mor= than
17,000,000 purchasers, and the Comp
troller of the Curren‘éy declares that
the total resources of the national
banks prior to the loan were more
than $18,000,000,000. With the flota
tion of three large war loans, approx
imately $9,000,000,000 in all, the re
sources have increased more than
$2,000,000,000 since March, 1917. |
The nation’s gold supply is showing
a steady gain. Since the beginning of
the war in 1914, the gold stock has
gaingyd $1,047,180,000. |
The list of State banks joining the
Federal Reserve system is assuming
an impressive form. The board re-.
ports 444 State institutipns having
been admitted to membership up to
April 30. The total capital of thdse
banks is more than $265,000,000, and
the total resources aggregate $5,872,-
851,587. B
.
Butte and Superior
Profits Smaller
g e ———
Butte & Superior Mining Company,
which has just won its suit on oil
flotation, did not do as well in the
first quarter of this year from * the
standpoint of profits as in the same
period last year. The report just is
sued, shows profits of $1.13 a share,
against $3.65 a share in the same period
of 1917.
Production was larger, but operating
costs and taxes absorbed gains from
this source. Total earnings were sl,-
651,080 in the initial quarter against
$2,275,619 in the same period of last
yvear. Operating costs and taxes were
$1.323,099, as compared with $1,214,599.
The report shows a charge for de
preciation, but none for depletion,
which will be taken care of at the end
of the year.
‘ |Clos.|Prev.
Stocks— High| Low.| Bid |Cl'se
Kansas and Texas| ...4{ ....| ....} B
B 0 SRNE o Al Gs ek el Tl Sg
Kennecott . . . .| 337%| 333 333 33
Lack. Steel . . . .| 8815 8715 8815| 8914
Lehigh Valley . .| 60%] 60%| 6014/ 60
IBN . o Ll AT lIN
Maxwell Motors. .| ....| ....] 27 | 26%
a 0 st el L] W) B 3
aO, . pret. . F i baiaal 20
Mo. Pacific (new).| 233%| 23| 235 | 235
QoC PO L b ] vl DER] sasse
Mex. Petroelum .[IOO 983, 99%| 99%
aO, DEel. + . ol vl ket 98
Marine. . . . . .| 30%| 29%| 30 | 28%
do. pref. . . .|104%(102 (103510014
Ifl{?a&s;n% Power . sl St 2% ggz
am opper . . 9% | 29 4
Midvale Steel . . . 55& 853% 1 843%4| b 3,
National Conduit .| 165 16| 163%]| 17
National Enamel .| 53%| 53 533%| 51%
SO TRIEE, . il it et BB RLNB
North American .| ....| ....| 43 s
N. Y. Contral . . 73'? 72% | T3%| T 3%
N. Y. N. H. & H.| 42} 405%| 417%| 40'%
National Lead-. .| ....] ....| 68%| 683
do. pref. & 00l e S 0 <L [30638
N.and W. . . . . .[1056%[106% [1053%[106%
a 0 prels: . L il ik saest T
Northern Pacific .| 87%| 87 37 871%
N. Y., o.and W. .| ..l.] .v..] 208 21
Nev. Con. Copper.| 21| 205 | 203 | 21
N. Y. Airbrake . .[1321%£(13215(132% (132
Obhio Cities Gas . .| 39%]| 3915| 39%| 40
Pitts.-W. Va. Coal| 293%| 29%| 29% 2922
do. poel. . %] aiid) chas] 0814] 68
Pacific Mail . . . .| 30%| 3074 30%4( 31
o pref. o L) Vil vie i [IOO%IIOB
Pennsylvania . . .| 44%| 445%| 4454/ 44
Pierce-Arrow . . .| ....| ....| 39%]| 39%
A 0 DM L Y St io] 96 95
People's Gas . . .| 4T%| 47%| 47%]| 47
P. Steel Car . . .| 61%]| 611%| 61%| 61
Ao-preß. .. vl NGI . oes) 959 08
Pittsburg Coal . .} «i..] «...] 54 | 5435
Qo pret. . ] Vo] i R 82
Pullman Pal. ©ar.] o...]l\ee.] o 0 117
Ray Consolidated.| 26 | 257 26 | 257
Reading . . . . .| 8814 8715| 88 | 881
R. 1. and Steel . .| 90%| 8934} 90 | %0%
AOrapret. o il it setabi cadil 39
Rock Island . . . 22& 22%| 22%| 22%
4o pref. A. . |3O 70 To%| 70%
do. pref. B. . .| b9%{ 59| 59| 60
Ry. Steel Springs.| 66 |56 56 5614
QoL HreL s 5 o e R 97
Sears-Roebuck . .| ....| ....[139 140
Sloss-Sheffield . .| 66 |64 | 65%]| 63
ao. press . o o ol dwes] 90 90
Southern Pacific .| 853% 8522 853%| 853
Southern Railway.| 24| 24 24| 24y
do, pref. . . .}62 62 62 J 62%
Superior Steel . .| 43%| 433 4322
Studebaker . . . .| 42%| 4134| 41 415
L & L ang) Ri Th 75
Btk and B Wil e 18
QO. PN, & o] ssinl vaed W 34
Sinelair Oil . . . .| 28%| 28%| 28%| 29
Bwitt & 00 .. Vi e LS RS
8h Loy s At ash B 08 T h
S 0 WL i vl 20N ITR
Savage ArmS . o of cooo| sooof T 9
Tob. Products . .| 59 | 68%| 58| 59
o PPI o .. i) siin] seei) TOBL sass
Tenn. Copper . .| li%| 1% 17%| 17%
Thivd Avenue . .} . ii:l .5:.]1 32 17
Texas Oil . . . .|156%[1566%[156%(155%
Toxanw PRdBS . . ol cviclosnes] 30 17
United Fruit . . .|127%[126 [127%(126
Union Pacific . .[124%%(1243%[124%124%
U. S. Realty . . .| 87 |B4 87 |Bl
U/ 8. Rubber . .|..) «...] 68%] 69
QO. OeE. oL R LN ed
U. S. Steel . . . .|110%(109% 1105 110%
do. pref. . . .[110%(110%|110%|110%
U. Cigar Stores . .| «csaf »0..] 913§| 913
GO, DEBEG S L dabs 0108 108
Utah Copper . . .| 84 | 838 84 | 84%
Va.-C. Chemical .| 46%| 46%| 45% /| 45
do. pref. . . .| ..vo] 0...[108 [106%
Webhsht.~. .s» .1 3 9 9 91y
do.pref. A. . .| 43 |42 | 42 | 42%
dofpref. B . .| peo] ooo.] 23] 284
Western Maryland| ....| ....| ....| 16%
‘Western Union . .| 93 927%| 92%| 93
Willys-Overland .| 21 | 19%] 19%] 20
do. pref. . . .f ....] ....|] 80 |BO
Woolworth . . . .| «...) ....[114%(114%
do. %ref. & miiledade] one [ REAIITIA NS
Westinghouse .. .| 445%| 44 445 | 44%%
a 8 OO L b i 9 e
White Motors . .| 41%/ 41%| 41%| 41
‘Wilson Pack. Co. .| 67%| 67%| 57%| 57%
oWL i v vl B 95
BONDS.
U. 8. Lib. 3%s . .|99.00/98.98]98.98/98.98
do. Ist 4s . . .[95.00{95.00!95.00/95.10
do. 2d 4s . . .[94.98/94.92(94.98/94.96
do. 4%s . . . .|97.78|97.76{97.78/97.88
Anglo-French 5s .| 923| 923%| 92%| 9215
‘ ’ . .
¢ Financial Sunshine
The Southern Railway start
| ed the month of May with a
determination to hang up an
other brilliant net increases,
and, if the gross return for the
initial week of the present
month has anything to do with
it, the road will come through
with a handsome increase.
Gross earnings for the first
week in May totaled $2,581,497
—a gain of $488,302 over the
same week last year. Gross
from January 1 to May 7 ag
gregated $45,327,676, as com
pared with $37,057,821 the
previous corresponding period
—a gain of $8,269,855.
To facilitate loans to farmers and
holders of agricultural securities the
Federal Reserve Board has reported
the completion of a survey made by
a group of secialists, which estab
lishes valuable information for bank
ers in guiding them in loans protect
ed by staple commodities offered as
collateral. ‘
Local Trade Good,
Following shows Bradstreet's sum
mary of business conditions here for the
week ended, Friday, May 17:
Wholesale and retail trade is
good. Manufacturing and industry
active.
Better weather conditions brought
about a resumption of activity in
practically all lines of business,
though a slacking off is apparent.
Male labor is being replaced to a
large extent by females and boys
of immature age, which has in
creased expense with comparatively
, poor results.
Collections good, though not in
keeping with records’ot past few
months.
Weather being cool and wet has
not ‘altogether favored growing
crops. Cotton and corn are in fair
condition.
Truck crops 'of all kinds are in
good shape. Fruit crops give prom
ise of large yields.
|
Public Buys Heavily While In
siders Sell—Street Cautious,
.
Pending Warßevelopments,
By BROADAN WALL. |
NEW YORK, May 18.—Mercantile
marine stocks were the one strong
feature of today’s stock ‘markei. In
the early trading the preferred ran
up 33-4 points and the common 2.
A great rush of public buying came.
into these issues with the result that
insiders let go a considerable amount
of the stocks bought much lower at
a time when the public helieved the
deal entirely off, Other stocks were
inactive and hca'ly. A few exceptions
were American International, which
owns a large block of Marine, and
National Enameling, Linsed and New
Haven.
Trading was on a lighter scale than
usual as the hanking interests have
apparently been required to pass out
the word to be cautious, in view of
the German offensive that is being
renéwed. Professional sentiment was
in favor of great caution until Mon
day. Should nothing adverse develop
before the opening Monday morning
the professionals will join the public
in buying stocks.
In the late trading Marine pre
ferred went as high as 104 3-4, clos
ing in the midst of a profit-taking
reaction. The market was steady up
to the end, but free selling, was ob
served in most issues. Net changes
for the day were not important ex
cept in Marine.
Wall Street is taking greater in
terest in the Red Cross drive than in
the previous one. Every Stock Fx
change house will contribute freely
and every corporation is expected to
declare a special Red Cross divi
dend.
In the actual bank statement today
loans decreased $19,395,000 in re
serves, decrcased $56,608,196, and net
demand deposits increased $6,950,000.
In the average statement loans in
creased $63,335,000, reserves increased
$6,627,150, and net demand deposits
decreased $90,443,000.
Following is the statement of re
sources and liabilities of the Sixth Fed
eral Reserve Bank at the close of busi
ness May 17:
Resources.
Gold coin and certificates
MoVl e S L NTTS
Gold settlement fund .... 10,068,000.00
Gold with foreign agencies 1,675,000.00
Gold with Federal Reserve
BEONE ©Lk Ahiveesse s USRS 00
Gold redemption fund .... 1,647,600.00
Total gold reserve .....$ 57,250,742.72
Legal tender notes, silver,
WOO, il ks sse s e aid 716,677.00
Total reserve ...........$ b 57,967,419.72
Bills discount
ed members $11,099,530.79
Member bks.
Coll, Notes . 10,203,600.00
Bills bought in {1
open market 5,567,175.76 ‘:E;
Munic. War- Y
YAREE .. qa 44,700.00 PR
U. S. Long . 4
Term Secs., ol
(bds.) ... .. 726,860.00 e
U. 8. Short !
Term Secs.
(Ctfs.) .. .. 1,205,000.00
Total Barning Assets ...$ 28,845,856.556
Transit items ............ 19,958,600.21
Due from Federal Reserve
DS .. o 5 i i dvers . lOIBOITO. T 8
National Bank N0te5...... 1,050,440.00
Mutilated Currency for
Redemption ...... ie. 192,000.00
All other resources ..... 571,589.85
Total Resources ........$118,745,085.08
Liabllities.
Capital Paid In ..........$ 8,016,250.00
Burpits Wunl .......cOOOO 40,000.00
Government Deposits ... 4,518,716.05
Due to Members, Reserve
ACCOUNE . ands wvriiinas 38,427,982.63
Due to Non Members,
ClearinfieAccoum aiavs 15,806.12
Federal serve Notes in
Actual_ Circulation .... 57,951,535.00
Transit Items ... 000000 14,121,532.88
All other liabilities...... 653,262.40
Total Liabilities ........$ 118,745,085.08
NEW YORK CURB STOCKS.
NEW YORK, May 18.—Trading on the
curb today wasg fairly aétive despite the
short session, and interest was scattered.
'Houston Oil scored an advance of 5
points, reaching anew high record for
‘the year and showing a total advance of
about 17 points from the low of the
‘week. Wright-Martin and Aetna fea
‘tured the industrial list with fair galns.
Metal stocks were quiet. |
Sales. Stocks. Close.
13,400 Aetna’' .. .. .. .. .. U%@ 15
200 Chevrolet .. .. .. ..125 @126
DOOO Maxing .. ;. .. .. ;.Y 18@ 9.16
400 North American Pulp 2%@ 3
1,100 U. S. Steamship .. .. 6%@ 7%
800 United Motors .. .. 23%@ 24
| 5,000 Cosden Oil .. .. .. @ %
1,000 Federal Oil .. .. .. 2%@ 3
1,000 Metropolitan Petrol'm %@ 3%
2,500 Midwest Oil .. .. .. 7T%@ 7%
3,000 Oklahoma Oil .. .. .. 3 @ 3%
JOO -Vietowda .. ... o .4 @ 41,
1,000 Atlanta, .. .. .. .. .. 6%@ T7i4
2,200 Big Ledge .. .. .. .. 3%@13-16
8,000 Boston Montana .. .. 56 @ 57
BOD Oon. A& .5 s & 1% 2
SOO-Jersme .. oL 0 %g 3%
6,000 Mother Lode .. .. .. 48 @ 49
3008 RegACon. .\ . oLop B%@ 9
Wyt e 1S
NEW YORK BANK STATE‘MENT.
NEW YORK, May 18.—The weekly
statement of the N?w York Associated
Banks shows the following changes:
Average Statement,
Loans, increase, $63,335,000.
Demand, decrease, $90,440,000.
Time deposits, decrease, %m,ooo.
Reserve, increase, $6,627,150.
Actual Statement.
Loans, decrease, $19,295,000. \
Demand deFosits, increase, $6,980,000.
Time deposits, decrease, $7,040,000.
Reserve, decrease, $56,608,190.
COPPER RANGE DIVIDED.
NEW YORK, )QO); 18.—The regular
quarterly dividend $1.50 has been de
clared on Copper Range,K payable June
15 to stock of record May 22. 3
0.0. Gossett & Co
47 East Alabama St. Bl
I THE BIG POULTRY hANI)d['IGG 'HOUSE
Eleventh-Hour Rally Commission
Houses Sell—ats Up—Pro
visions Score Upturn,
By JOSEPH F. PRITCHARD,
“CHICAGO, May 18.—Commission
houses in the corn trade adhered to
the selling side of the market today
and the more deferred futures were
1-2¢ to 3-4 c lower, while the May
future was the smallest fraction bet
ter. July corm was under pressure
from the opening of the session un
til late in the day, when there was 3
slight reaction and advance from the
lowest prices. The July sold from
1.411-8 down to 1.40 3-4 and closed at
1.41 to 1.407-8.
Resting spots for the day in oats
showed advances of 1-4¢ to Ic. Cash
sales were small at 5,000 bushels, but
vessel room was chartered for the
outward movement of a goodly lot of
this grain to the East.
There was a better mavket for hog
products today and fractional gaing
were shown for the entire list. The
buying was rot only on short account,
some of it being in the way of invest
ment.
High. Low. Close Prev.
Close
CORN—-
May'. +1.21% 1.27% 1.27% 1.27%
June.,. . 1.45% 1.39% 1.397% 1.40%
July . .. 142% 140% 141% 1.41%
UATS—
May . . 6% 5% 7614 5%
June , .. Tl% * 71} 1% 707
gy .., Bl 6614 6614 661
FORK~—
MRY v s &g 42.00 41.80
JULY .. o Sk 42.60 42,05
LARD—
May . .24.77% 247212 24.76 24.66
July . .25.00 24.87% 25.00 24.75
Sept. . .256.35 25.22154 25.32% 25.10
RIBS—
BERY o a i 22.65 22.35
July , .23.10 22.85 23.071% 22.17%
Sept. . .23.60 w. 40 23.60 23.30
CTICAGO CASH QUOTATIONS.
CHICAGO, May M,—Corn, No, 6 mix
ed, 1.15; No. 3 wnie, 1.60; No. 6 yel
low, 1.15@1.20; No. & yellow, 1.35@1.45.
Oats, No. 2 mixed, 72; No. 3 white,
TT@77%; No. 4 whily, 76% @76%; stand.
ard, 7T7% @7B.
AR
LIVE STOCK MARKET.
CHICAGO, May 18.—Hogs: Receipts,
5,000. Market strong. Mixed and butch
ers, 17.10@17.75; good and heavy, 16:25@
17.55; rough heavy, 16.25@16.65; light,
1@?.{%5@17.80; pigs, 1450@11.50; bulk, 17.25
Cattle: Recei?ts 800. Market strong.
Beeves, 10.50@17.75; cows and heifers,
7.26@14.50; eeockerl‘and feeders, 9.25@
13.10; calves, 8.00@84.00.
Sheep: Receipts 1,000. Market
strong. Native and Western, 12.75@16.15;
lambs, 14.75@ 20.50.
ST. LOUIS, May 18.—Cattle—Receipts
250. Marke steady. Native beef steers,
11.50@17.60; yearling bes sterg” and heif
ers, 9.50@15.50; cows, 7.50@12.50; stock
ers and feeders, 6.50@12.00; calves, 7.7¢
@15.50; fair to prime yearling beef
steers, 10.00@15.50; bes cows and heif
ers, 6.00@13.50; Southern prime yearling
steers and heifers, 7.50@10.00.
Hogs—Receipts 2,000, Market 10@15¢
higher. Mixed and butchers, 17.35@
17.75; good, 17.35@17.60; rough, 16.00
16.25; light, 17.%0@17.75; pigs, 16.50
17.25; builk, 17.35@17.65. i
Sheep—Market steady. BEwes, céip
ped, 13.50@14.00; wool and eclipped, z .00
@17.00; canners and choppers, 6.50@9.50;
lambs, wool, 20.50@21.15; clipped, 17.50
@IB.OO, 7
NEW YORK COFFEE MARKET.
Coffee quotations: /
| Opening, + Closing
January . . . .| Jeoveisessd] 8.59@8.60
February « o « | (viviisessd | 8.65@8.66
Marsh . « . . JBB 8.711@8.72
APHL. o 6 0l R g. 1 BiTl@B.7B
MRy o e R Y 108 16@8.18
JUNG .y s e el et or | 8.21@8.28
SO < .o e iy e | 3.3608.28
August . . & abiTal . | 8.32@8.34
September . . .| 8.35@8.84 | 8.38@5.40
Oosteher . 5 AIF an.. ..t 8.48@8.45
November . . .[%icisi.. /N 8.48@8.50
December . . .| 8.51@8.54 | 8.53@8.55
CHICAGO CAR LOTS.
CHICAGO, May 18.—<Following are re
ceipts for Saturday:
WHEAE .o oo it W ey ics .. 2
TT AR S 73
L RN e SR |
PRDBE . L e A L ey . 6,500
A
J COTTON SEED OIL.
NEW YORK, May 18.—No prices were
quoted at the close of the cotton seed
oil market today. There were no sales.
JACKSONVIL' E LIVE STOCK.
HogsJßeceipts light. Porspects weak
Heavy choice, 15.25@15.60; heavy rough,
15.00@15.25; mixed, 15.00@16.50; lights,
14.50@15.00; heavy pigs, / 14.00@14.50;
light, pigs, 1.75@12.50,
' Cattle (including grasé cattle)—Re
ceipts light. Prospects steady. Steers,
$8.0014.00; light sters, ,7.50@9.50; light
grass sters, 7.00@7.75y bulls, 6.75@9.50;
yearlings, 6.50@7.40;," cows, 6.30@8.75;
calves, 6.50@9.60; canners, 575 up—
Williamson & Dennis. March 18.
et e .
FOREIGN MONEY RATES.
NEW YORK, May 18.—Closing rates
of foreign exchange:
Francs, demand 5.71%, cables 5.69%.
Guilders' checks 5014, cables 51.
Lire checks’9o4, cables 9021%.
Rubles, checks 1400, cables 1500.
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