Newspaper Page Text
Cotton Reflects Bullish Situation Rising 58 to 100 Points in New Orleans Early; Holders Refuse so Sell Staple
L.S. BANK RESOURCES LARGEST
IN HISTORY === $40,210,000,000
Atlanta bank clearings Friday..... ... ... ... ..$10,643,030.42
Samedaylastyear ... ... ........ ..» won oo 9,357,996.16
B G ey e i vess DR
Same day last week .. ... .. ... ... Lol 10,688,360.46
Bamoday 1016 ..... . ... vovvvit voe vue oo o 0 5,863,770.36
- " .
Atlanta spot cotton Friday m00n... ... ... ... .. .... 28.60¢
Samo day last JOOP ... .o oo cin i can ciie oos 39300
Bame BEP IS JOOF ... oi. siiiiiie conin ver esne. 80500
Bame GAY 2918 ... .o coh ciiiiiiies sesh aries senes 18 3.8¢
» s »
Atlanta cotton statement Friday:
1918. 1917, 1916,
T TR R N P 1,608 1,368
.ca 6 3T soe 0o DD 2,266 2,189
B Lil bes B 46,462 83,779
BT
. . «
WASHINGTON, Dec. 13.—The prices of cotton f_abrics
and cotton yarn which expire on January 1, 1919, will not
be renewed, ti was announced at the War Industries Board
this afternoon.
- . .
1 The bullish merits of cotto ngradually are being felt. The action of
the market since late Wednesday, when values recoiled fully $2% a bale
from the day's low levels following the publication of the Government crop
estimate, has impressed the trade that the “buying” side {s the safest.
Reflecting heavier exports, steadiness in spots and firm Liverpool
cables, the market started strong Friday, with initial prices on the New
York Exchange 5 to 28 points higher. A small reaction occurred on the
call, but this immediately was pursued by a swift rally that'lmed the
list to a net gain of 45 to 58 points, or 97 to 105 points above W ednesdays
low marks. December reached 27.75, while January touched 26.45, March
25.32, May 24.50, July 23.95 and October 22 cents.
Futures at New Orleans more fully reflected the bullish fundamentals
than did the Northern market After opening 9 to 156 points higher, the
market shot up to a net gain of 50 to 100 points, with December leading.
This option touched 28 cents, and the entire list at the top exhibited a net
gain of 143 to 180 points—s7.ls to $9 a bale—from Wednesday's lows.
That the spot situation is inflexible was evidenced in the following
wires sent to a large New York firm: “We can't buy good middling f. o. b.
Texas points. No selling of cashcottonin the South. Futures MUST reflect
this soon.”
While the week-end statistics are expected to be bearish on spinners’
takings, the export and crop movement figures are expected to be bullish.
Exports for the week will compare with 92,000 bales for the same week a
vear ago, 162,000 two years ago and 156,000 in 1915.
The trade anticipates a bearish consumption report Saturday, the
majority expecting the amount of cotton used last month to be in the
neighborhood of 390,000 bales. In November a vear ago 590,706 bales were
consumed, the second largest total for any month in 1917, Influenza and
lack of labor have handicapped mills considerably during the last few
months. Last October 440,833 bales were used.
3 * *
BANKS WELL FORTIFIED.
Despite unparalleled war financing, heavy taxes, etc., the banks of the
nation are in the strongest condition in history.
According to the Comptroller of the Currency, aggregate resources of
the 28,800 banks in the United States, State and nationa, last June 30
amo_u_uled to $40,210,000,000, of which $22,371,000,000 was credited to the
21,175 State savings and private banks and trust companies and $17,839,-
000,000 to the 7,705 national banks.
Deposits of the State banks amounted to $18,567.000,000 and loans to
$12,426,000,000, showing an increase of 5 per cent in deposits over the
l'P(‘ur:i of the year previous and 6.5 per cent in loans.
Ths report of the Comptroller showed that national bank deposits
aggregated 3!4,021.000.000. an increase of 9.8 per cent, and $9,620.000.000
in loans, an increase of 9.1 per cent. All banks, State and national, had
$32,589,000,000 deposits and $22,046,000,000 loans.
WEATHER FORECAST.
Following is the weather forecast for
the cotton belt for the next 24 hours:
Georgia—Cloudy, probably rain.
Louisiana—Rain, colder.
Arkansas—Rain, colder, west; Saturday
clondy, rain east, colder.
Oklahoma—Fair, preceded by rain east,
colder, freezing. Saturday fair.
mm Texus—Cloudy, colder. Saturday
i,
West Texas——Fair, colder, freezing ex
tept south. Saturday fair.
North Carolina—Rain, warmer,
South Carolina—Rain, warmer,
Florida—Probably rain except fair ex
treme south. Slightly colder Saturdgy in
northwest
Alabama—Cloudy, probably rain; some
what colder Saturday.
Mississippi-—Rain, colder; Saturday,
colder and generally fair.
——————————
N A AAP
{20005 Wgioon pesom |
Compiled by Atlanta Market News Of
fice by the U. S. Bureau of Markets, ¥. H.
Bottenfield acting in charge.
Following fiuotuuono represent rncel at
which the bulk of good stock of fruit and
Produce was sellinf Friday, with prices
on the basis of goods in the original pack
age sold by wholesale dealers o retailers
(some fancy stock bringing higher prices,
and produce In poor nondition selling
lower):
WHITE POTATOES —Minnesota and
;\ iscousin Round Whites, sacked, per cwt.,
« 40y 3,00,
APPLES - Barrels, Virginia Yorks, No. 1,
$7. Ben Duvis No. 1, $6; West Virginia, A
grade 2% inch, $7.00@7.60; New York
Baldwins B grade, 21 inch, §s7. Boxes:
Washington, Pearmains, XF, £3.256; Romes,
XF, 8i; Winesap, fancy and XF, $3@35.26;
Yellow Newtowns, XF, $3.25
ONJONS-—Northern Red and Yellow
Globes, 100-Ih. sacks $2.50@2.76; White
Globes, $3.50
CABBAGE--New York Danish, crated,
$° e per cwt
SWEET POTATOES-—Georgia Porto
Reans, sucked per ewit, $2.00@2.75.
ORANGES-—Florida, $4.20@4.00 per box.
GRAPEFRUIT—FIorida, desirable sizes,
$3..0603.60; small mizes, $3.00.
TANGERINES-—~Florida, fancy wrapped,
$7.00@ .10 per box.
LEMONS~California, $7.0 per box,
PBANANAZ -G @0 cents per pound
RUTABAGAS-~Canadian, sacked, per
twt., $2.36@2.60.
LES Ul Louisiana, barrsls, 8 dozen
Leads, $7.050
SHALLOTS-~Louisiana, 40 cents per doz
en bunches
SQUASH ~Ohio Hubbards, 4@6 cente
per pound
GRAPES- Imported, 6i-pound kegs, Ma!-
agas, $9.50
A P, S AN P
. FERTILIZER MATERIALS, |
WMW
sorrected by HARRY COHEN, United
States Feod Administration Liconse No
G- 27060,
Nitrate of soda, 95 per ceut, prompt
shipments, Government price, 4.42% ox
vesnel
Bulphate of ammonia, bulk, 6.60 per 100
pounds, single bags, 5.76 per 100 pounds,
f. 0. b, Baltimor,
Rlood. ground, December-January ships
1”8, 6.70 basis Chicago, bulk
Tunknge, ground, December-January
shipments, 6,606 10,00, basig.'hicago, bulk
Potasli, Trona, (40 per cent), 4.00 per
unit, delivered: Nebraska, 0‘“‘:0-7 cent),
$1.60 per unit delivered; beet Wugar, (36
per gent), 4,456 per unit delivered,
Acid phosphate, (16 per cent), 16256 ¢
A Baltimeß, $16.26 e. & . Philadelphia.
Tobueco stems, ground Kentucky or Vir.
ginta, 450 per unit potush and 678 per
Wit ammonia £ o b, Louisville or Rich«
Biond, freight aliowed te consulyer's plant
Kelp ash, ground, 15 per cent), 4.60
delivered
Fish tunkage, guaranteed 10 pep cent
ammonia, §5.00 ton. £ o b Raltimore,
Limestone, ground December-January
thl,mnlll, 3,00 £ o b mines
Cottonseed meal hulk, basis 7 per cent
Government price at miil, k 1 60
Peanut meal, bhulk, basis, | per cent, §
per cent, 9 per cent ammonia, at 1.20 per
unit ammonia f. o, b mills, Decomber, Jan
uury, February, March, April shipments.
OCTOBER COTTON “CHEAP.”
The New York bear element in cot
ton are being converted into friends
of the market. Read the following
from 4 leading New York paper:
After a sharp decline in juxtapo
sition to all the bullish theories that
had been expressed for months dur
ing the war, the cotton market is
beginning to get back to these same
theories. It is being reiterated that
the world is bare of cotton. But
aside from this, the technical posi
tion of the market has been im
proved by liquidation of long ac
counts which were accumulated
before the signing of the armistice,
Then came the cancellation of the
Government war contracts by for
eign countries. These disturbing
features upset the American manu
facturers, and they proceeded to
hedge against the cotton in their
warehouses and against the manu
factured product as well. These
hedges must be repurchased in the
open market upon resumption of
trade. It 1s this feature that is
causing bullish sentiment % again
spread around. With October cot
ton around 21 cents, several houses
are urging its purchase as an in
vestment to be held until spring,
when they are certain that option
will be selling between 30 and 235
cents.
ATLANTA LIVE SIOCK MARKET.
(Corrected by W. H. White, Jr., President
of ‘White PBrovision Co.)
tGood to choice steers, B§6o-1,000, 9.00 Q
10.00.
Good steers, 750-850, ¥.50499.00,
Medium to good steers, 650-750, 7.50@
£.OO,
Medium to choice bheef cows, 750@850,
7.00@7 50
Medium to good cows, 650-750, 6.50 Q
7.00.
Good to cholce heitérs, 550-650, 6.00@
7.00.
The above represents ruling prices for
good quality fed cattle. Inferior grades,
dairy types and range cattle quoted be
low
Medium to good steers, 700-800, 7.00 Q
8.00.
Medium to good cows, 600-700, 6.00 Q
6.0
obluwd commeon, 5.00@6.00
Good fat oxen, 6.050@7060
Good butcher bhulls, 6.00@7.50.
I',o|nr veal calvea, 70068 00
Y®arlings, 6.00@6 00
Prime hogs, 1656-220, 13.76@ 1450,
Light hogs, 130-165, lnlm?];l 80,
Heavy pigs, 100-130, 12006012 60
Light pigs, §so-1060, 11.00@ 1200
The above q'unulmm apply to goad
quality mixed fed hogs
ATLANTA PROVISION MARKET.
Corrected ‘n‘uu Whl;o Provision Com
pany, U States Food Administen
tion License G-21371.
Cornfield hams, 1012 sverage e Jxln
Cornfield hams, 12-14 average 25
Cornfield akinned hams, 16-19 sv.. 39
I‘nrnl}am plenie hame, 6.8 average . . o 8
Cornfield breakfast bacon + B
Cornfield sliced bacon, 1«<1b. boxes,
12 to case s . 0
Grovers’ bacon, wide or narrow . 40
Cornfield pork sausage, fresh link
or bulk . sras B 8
Cornfield wieners. in 10-Ib. cartons,. .23
Cornfield wieners, in 12.1 b. kits, in
pickle $3.25
Cornfield bologna sausage, in 26-1 h
hoxes : 20
Cornfield smoked link sausage, lin
26+1b. hoxes ise 1200
Cornfield lard, tierce basis s A 5
banis ey At ,m:z
Country style lard, tierce basin . ... .50
%ompaund lard, tierce busis R
randmother's pure leaf lard, tierce
D & extra ribs ’ sk 0
R B hellien, medium nverage. . ... 324
B bellies, lLight average. . vo J 30%
JACKRSONVILLE LIVE STOMOK,
Hogx Receipts heavy, prospects 200
lower. smbarge on hogs hold them out
Today's sales extra choice heavy 14259
14.60; ardinury choice heavy, 13 768 14.00;
roughs, 13.50@12.95; lights, 1250401300
hoavy pigs. 120001250, light pigs, 10 3
@O6O
Cattle Receipte medium prospects
wenk, do nat stir Hteers BlisM 1100,
bhulls, S 2588560, yearlings, 60065575,
cows, KESME 00, heifers »:.n’« 25, vea,
enlves, 11fl&..1fl. canners, 480 up. Wil
liamson & nnis, Dee, 13,
B L.. l:‘l’ MIARKE § 9 ANY WRFRIN o o
NEW YORK, Dee. 13.—After opening
6 to 8 points higher teday the cotton
market held steady and at the end of
the first fifteen minutes was 20 to 25
points net higher, -
Demand broadened later in the fore
noon, with values running up 43 (o 33
points net. Offeringe were light,
Bullish spot news and heavier exports
furnished the stimulating incentive,
Demand kept up durlnfi the late fore
noon with the list reach n, a net gain
gain of 46 to 68 peints, chiefly the result
of bullish spot news and expeclations
of much heavier exports,
Just hefore the neon hour realizing
pulled the list down some.
New Yorw 11 a. m. bids te Liverpool
were! January 26.46; March 25,32; May
24.48; July 28.90.
New Orleans 10 a. m. bids to Liverpool
were: January 26.86; March 24.85; May
24.05; July 28.80,
NEW YORK COTTON FUTURES,
| l { 112:30| Prev.
_________lgpg!!fl‘h;l.m}'. M. Clome.
Dec. , . .[27.50(27.76/27.46[27.75(27.23-30
Jan . ;26.05‘3015126.05;26 JB/26.00-10
N, titoh L sens s 124.90
Mch « .[26.06/26,32)26.03/25.30/24.87-90
April . | ¥ {. { ..124.20
By . . v'.'4.30521.60124,17\‘.'4.47,:1 02-06
June S PT e cikis i iR 80
July « s ,|23.56/23.96/23.50/23.80/23.37-38
Aug Nl Eva ki R ikl AR DN
Sept. . Lot .. | .122.00
Qct._. . [31.86]22.00]21.60/32.00/21.43-48
NEW ORLEANS COTTON FUTURES
| | | (12:30| Prey
|Open High!Low [P. M.| Close.
Dee. , o+ .|27.50/258.00{27.50(28.00{27.00-15
JBll. o 26.80026.56(25.80/26.24{26.70-89
Mch 24.40{24 85124 .40/24.76/24.26-30
May 123 .69(24.08(23.69(23.94/23.50-80
July . o 123.85-90
Oct. . . “.i21.15/21.16/21.15(31.16i21.70-80
LIVERPQOL COTTON.
LIVERPOOL, Dec, 13 Spot cotton was
quiet today; prices unchanged; sales 5,000
bales. American middling rair, 22.08; good
middling, 21.40; middling, 20.77: low mid
diing, 19.72; good ordinary, 18.20; ordinary,
17.67
Futures opened steady.
Prev.
Open. Close. Close.
December v 19.80-19.92 20.9 19.64
January Vé 18.76-19-61 1889 1845
February .. 17.86 17.96 17.65
Maresh 17.04-16.92 17.28 16.92
April 15.8% 16.26 16.02
Closed very steady.
ATLANTA COTTON SEED PRODUCTS,
| U. 8. Fixed
Description— Pricea.
Erude ofl, basis primde. ... .i.... 00 MY
Cotton seed meal, p. ¢. ammonia..s6s
Cotton seed meal, 7 p. ¢. Georgia
. commeon rate point . S i
Cotton seed hulls, loose ..........sl6
| Cotton seed hulls, sacked ........nominal
Linters, clean mill run .......... $4.67
| COTTON GOSSIP,
i Near months in Liverpool were strong,
i.lunumy being 25 points better than due,
| while March opened 21 lower
\ ‘*The main bull argument is the ex
\[u--‘tm.m) of larger exports and this has
created a somewhat mere bullish senti
ment among local traders,” sayve E. ¥
Hutton & Co. “The market shows a strong
tone while they support it, but from the
way it acted near Thursday's close it
seems that a better buying power must be
had to bring about a permanent advance.’
| The Times-Picayune says “Thursday's
i rally was mainly due to the firniness of
| the situation in spots. Farmers all over
|u|. cottoun belt are refusing to sell at
present prices and good grades of cotton
are commanding a very high basis. Trad
ers appeared to be convinced that the
bearish view taken of Wednesday's official
estimate was unwaranted in view of the
big increase in exports expetced from now
on The amount of tonnage available for
commercial purposes is already improv
ing and it is expected that the supply will
increase steadily from meonth to month
he big discounts at which futures are
selling under spots 18 encouraging trade
buyving and the heavy discount of the
October position is especially attracting
attention in view of the certainty that in
the late summer or early fall all obstacles
to a general resumption of the world's
trade will be removed and that there wiil
be an urgent demand for cotton in com
mon with all other raw materials It is
reported that a hig French steamer is ex
pected to take 30,000 bales out of Galveston
shortly and several Japanese steamers are
arriving at Pacific coast points and are
expected to take out cotton as part of
their return cargoes.'
ATLANTA SECURITIES,
STOCKS- Bid. |Askd
Atlant® Steel Co, com. .....[IOO [llO
B 0 PUOE s.sisvs nnasasensd BB 2
At. Ice and Coal Corp. ......| 62 85
G 0 DI iiiris Sasesesrl 1B 75
Atl. and W P. Railroad ......[l6O [156
Atlanta Natonal Bank ......|286 |[295
Central Bk. and Trust Corp. .[!160 [155
Fourth National Bank ........|313 [513
Augusta and Sav. Rallway ....] 92 |96
Atlanta Trust Company .....| %0 0
Exposition otton Milis ......|]lßs [l9O
Fuiton National Bank ......J117%/[l2O
Empire Cotton Oil, common ..| 67 80
do pref. .. sisssassnescl BRNRI OO
Cate City otton Mills ......[226 ss
Gu. Ry. and sdanging Ceo. ...(2% (243
Ga. Ry. and Blec. €oy wu.... ..jllO |ll3
do, IJ). € iiesenssncncas-of 18 |BO
G 0 B 8 R .00 s sk BB "w
d 0 COMMON . 2iovvs sesnersl B 1
Lowry National Bang ......[220 [22»
Southwestern Hallroad ........| 96 "
Third National Bank ........]2158 [llß
Trust Compnny of Georgia ....|250 [285
Atl. Cons. Bt. Ry. §0 ........]llOO 108
Atl.-Char. Alrline 6s ... .......[6.10 |Basis
Bends.
Atlanta 3%5, 1940 2o+ 00veese] 4. 40| Basie
Atlantic Ice and Coal, 68 ....[ 93 |97
Atlantic Steel 68 ... .. .. Sl 88 IR
Ga. Rallroad and Bank. Co. ... .| 86 | ¥
WEEKLY WOOL REVIEW,
| BOSTON, Dee. 13.-Receipts of wool in
pounds so rthe week ended, including
Wednesday, are as follows
I 1918 1017
Domestie 5 1,863,834 2,026,286
Foreign 2,{57")'.0- 9,613,768
- Totals .. 361,489 11,839,043
| T Total rece pts of 4,361 499 pounds coms
pared with 7,967,638 pounds for the pre
coding week, of which 1507887 pounds
were domestic wool Heceipts of wool In
pounds from and including January |
| 1018, compured with the same period in
i”l' were as follows
‘”‘ oo 1A
Dromestie . (IR 618.7T00206 544 84¢
Forelgn Voo |298,326.312(262,848,027
Fotals 476,9044,102(407 892,870
THE WEATHER.
WABRHINGTON, Dec. 13 Rain will con
tinue quite generally tonight and Saturday
in the Ohlo and the East and south. It
| will be warmer tonight from Virginia to
| Fouth Carolina and somewhat cooler in
the Ohio and lower Mississipp! Valleys
* It will _be colder Saturday in the Ohilo
| Palley, Tennessee and the East Gulf
Btntes
l —
| Forecnst by States,
i Georgin-~'loudy tonight and Saturday
probably rain
North Camrolina-~Rain and warmer to
l!-um Baturday rain 'n east portion
‘ Bouth Carolina~ Rain tonight warmer
i interior, Baturday riain
’ Florida Probubly rain toenight! and Sat
| urday except fanr N extreme south por
L tion, slightly colder Baturday 1o oextreme
northwast portion
i Alabamacat'loudy tonight and Saturdgy
’ rohably rain somewhat colder Egtur
| «in
l Mississipp Ruin tonight older in wonst
partinn Nnturday ealdes ind gEepernlly
fair
Lennesser Hain tonight wnd coldes n
wostern pgrtion, Maturday cleudy and colid
o 1 (luh:l‘ ruin i centind and sast por
tioe,
New York Stock Quotations
l?lx!OiPrev.
Bpt_l_tfs—- |High. LO_'_#P. M. |Cl'se
Allfs-Chalmors .| 80ty 50 [4O | 20y
do pref. : . ;,u 8y 23 10}
American Zine . | .l Crigd aid 13l
SN R i e 10T
Ama. Bewt Sugar .| 414 41 RN ]
American can ... 46y 15% Mw.l 45°
Amn, Uar Fdr{x 42 88 | BTTh| 8T 87
Amn, Cotteth Ol +.} ..., Sen sl S
Amn. Loco. o+ | A [ 63| 64 | a4t
Amn, Felting . | RIT| 8) | R3] “:t
wn, Bteel Pdre. .| 87 | 87 | 87 | RY
hin lurnr Ref. .| Pfiama i [LIIN
mn. Teli & Tel. . 103 VIOIN:IM%ZI-H
Amerlean Woolen | bile| 87%| 67% | 677
American Linseed : | ... ... 1.0 44%
Q 0 oMt . o s o] BTN
AL G SR W, 1. i i i e
Amn. H, and L. . ....0 ....0 .... 14%
do pref. . . .| Ikl vy vik| 5
Amn, Malt Corp.. i | i.oof vovef one Sl
do pref. . « . . i 0. ivail A 8
Ams. Tobacco ~ .| ....} ... C. 197
Amn. Bum. Teb. .. 07% 87 PTW| 64
American lce . . . i eeaaf e 2%
Amn, Writ. Paper [ .. veii] vonl] 82
Alaks Gold = . f ... i) il g 4
Anaconda . ... .| 6% 66%| Fi4| ae
Atchisen . . & 4} .. iond ouai] 9B
Baldwin Loco. . . .| 76 [ 76| 76%| 76%
Bal. and Ohlo . .| B4lk| 66T | 637) 64
Beoth Flsheries . .| ....| . {is 23 %
Beth, Bteel pret. . .. ..] o] isii]ooo
Beth. Steel B . ...| 67% 66% 67 67
Brook. R. T. . ...| 86%) 85| 86%4| 861
Butte Superfer . o.| ....f «.oof ooy 20y
Oal. Petroleum . .| ....| ‘:oof oooe] 21
Can. Paclfie ... ’ s | .. |159
hes. and Ohio . ..{ 87 | b 7 7T | BTY%
C. and N. W: . f., ¥ap ' 99 %
Ol ¥ and L o« ] i SEas 10
C., M. and Bt. P: . .| 464 464] 4hle 46K
de pref. . & | (S oo} eeind TR 8
Chine Copper . . | «..ef vs. Sienl A 0
Coneel. Gas . : .} . { | : 100
Oorn Products . . 47% 47% ‘.‘."i 1%
Crucible Steel . . | BB] 87% 57%| B 8
Cuban Cane Sugar | 804| 30% 30% .m&
R A e ~.‘]lu_u?
Cast Iren Pipe . .p ..., 4 | (ean] 2B
Clontral TasthWr . ) . .i) (aiv] daov] S3O
Chile Copper . .| 18%| 19%] 103 19%
Chandler Motor . . | “...| +.cof vt 64
Columbia GA® . . .| ...l ooof coney 433
Del. and Hudsen . & soo 111
Dist. Becurities . .| 401 40%/ 40%, 19
By ;e W ‘IS%‘W ~lhfifi
do pref. 18t . . il U 8
General Electric . .[149 |l4 [149 [l6O
General Moters o asask o] o ;12.
Goodrich Rubber . .| BT | 66| bilg| b 6%
Gt. Nor pref. . ..| 97 | 96%/| 96%/ 97%
Gt. Neor. Ore . of >el ge il oae| 3'%
Gt. Western pref. . | 2TI 27| 2T%; ..
Gulf Btates Steel .. . { A L
Greona-()an]anen Faland el .' ‘:
Jik. Osmtil . . | ...4
Inspir. Copper . : 4'!%' 47'%“ 1% 41%
Interbore « : . .| B%| 8% 64| §
Ind. Alcohel . ...1101%101% 101%101%
Int. Nickle . . ... 328 33%/ 323%| 83%
int. Agrl. Cerp. . b6k Bhlg) b 6 BTy
Sar. Pheeb . iet v B
l_\_QL_“_“_"__Ei’L____.__{_—-———‘—z!l'—
A A A I I
Financial Sunshine
inancial Sunshine
The per capita circulation in [
the United States on December
1 was $56.23. Z
A A A A A A
Cotton Goods Orders
- . . .
Slow in Materializing
NEW YORK, Dec. 14.—Cotton goods
primary markets are still very quiet and
mills that are detaching themselves from
Government business are finding it slow
work in accumulating civilian business.
To avoid complications in the market
that can arise from the unwarranted
dumping of Government goods on she
domestic markets, New York selling
\a‘enw have appointed a commitiee to
co-operate with the Government author
ities in finding markets for surplus
merchandise not regularly used in com
mercial channels,
| Quotations for goods are very irregu
lar, showing the varying degrees of pre
rarcdness of mil'® and merchants so:
mmediate or future business, but the
general tendency is downward. It is
proving very difficult to arrange sales
for export, as shipping facilities are lim
ited and uncertain.
The retail trade lhrou,hout the coun
try where the effects of influenza have
passed is reported as very good, while
Jobbers are having a seasonably quiet
time. Attempted cancellations are much
talked of, but are being resisted where
unmercantile causgs for them are given.
The cutting and converting trades are
quiet, awaiting a lead for future husi
ness.
. . e
Swift Internacional Will
. .
Vote on Dividend Dec. 28
CHICAGO, Dec. 13 —The meeting of the
diréctors of the Compania Swift interna
cional to deelare the Initial dividend will
take place at the central office in Buenos
Ayres on December 28, This meeting wil!
be attended by a representative of the
North American shareholders of the com
pany, who was appointed at a meeting of
these shareholders on November 6 No
official indication of the rate of dividend
to be paid has been made except that it
will be at least § per cent, or $1.20 a
share on the sls par stock. However, the
fact that the stock is selling around 45,
at which price a $1.20 dividend would
vield enly about 2.7 per cent, indicates
helief that the rate will probahly be higher
than 8 per cent
Kennecott’'s Out pul
Of Copper Decreases
Copper production of the Kenccott Cop
per Corporatign for Novembor showed a
decrease of 1.‘40.00 pounds. The produec
tion by months this year compare as
follows (in pounds).
N0v..... 12,146,000 May 10,163,00(
Oct o 13,286,000 Apri! 10,506,000
Sept 11,628,000 March 11,020,000
Aug 11,970,000 Feb.. .. 10,642, 000
July 12,126,000 Jan 5 12,170,008
June 12,336,000
FINANCIAL NOTES,
Senate Interstate Commerce Committee
opposes McAdoo's plan for further Federal
control of railroads; much disfavor among
Congressmen and financial interests
5 & &
McAdoo's request for legislation te per
mit extension of credits to Allles to the
amount of $1.500000,000 for vear aftor
peace I 8 declared bitterly opposed in
House Ways and Means Commitiee
5 B '
President Grace, of the Bethlehem Steel
Corporation, denies to national war labor
board that the company plans any wage
reductions
- . »
Intereste in Aetna Explosives Company
Approve readjustment plan suggested by
Fedeoral Court
R T
The average price of twenty industrials
2553, o 5% twenty Active rails 57 0%,
oft 82
2N
At & apecial meating the stockholder
of the Tobacco Prducta Corporation Ol
to increase the common share capital from
$16,000,000 to $20.000,000 Thir incrcase
will make possible payment of the 10 per
cent stock dividend on the common shuies
voted two weeks ago, which will be dis
tributed January 16 o stock of record
January 2 There will he required for
this dividend 31,600,000 of new conunon
stock, which will bring the total of this
iasue outstanding up to $17.600,000 oOf
the $8.000,000 preferred authorized there is
outatanding $7. 945 500
$9 4 ‘
At A special meeting of General Motors
Corperation the issue of §1560,000,000 de
benture stock and » reduction in the au
thorized preferred stock from $100,006 uon
to $20,000,000 were authorized ‘
L. . |
American Tobacea probably will de a
business of approximately $145 000008 in
the current yYear, as compared with less
than 380000000 in 1917
5 ¢ B
In & statement addressed “To the
American People.” Director Genernl M
Adea, of the United Kiator ratlroad ads |
ministration, pronses thut under nn ey
cunistances witlh “wastefyl and extravagant
practices ecommeon when rallronds were
under private control” b permitted (o bhe
tavived, Be matter what the Government
decided to do with the preopert'ss,
1 |},:so§ V.
ARIGES- e lon iR 8 cl've
Kennecott - &|4B | 84%] 36 | 94%
Keilly-Springfield. . 65 66, | 86 G 4
Lack. Bteel . : : i} “n M&i 69% [ 604
xLehlgh Valley ol] by Bhle) 68%
LBRE N o g o dioaPwrci 41028
Maxwell Motors: | iii.] siuuf csasf B 9
e et el | ol v riaet 88
CTE TR e e D
Mo. Pacific (new), ll\)é 281p| 2618 26 %
fl!!'x. Petroleum . . lg; ilg}w lg_}lfl. lg;l%
Marine. . .oy so 4gl i
de. prefi « : .jllp HHIA‘HB 1187%
Miami Cepper . . .| 2§ 24%! 25 25
Midvale Mteel . L ov o (lod el 4BY
National Cenduit | ... .| vt batiy 16 %
National Eunamel .| 47% [ 47% 47% ! 47%
N. ¥Y.C. and Bt. L..| 29 !29 28 ...y
N, Y. Central . .| 77| 763 T6%| 174
N. Y., N.H. & H..| 34%! 84l 341e| 8414
xNatienal Lead . .| <] viliocaval BB
N oand W. . . . (10741074 [107% 108
Northern Pacifle o el vovit sinit DA
Nev. Con, ('(au-er i 19% )18 119 19%
Ohio Cities Gas. .| 43 i 2% 48 435
Proifie Mall . ] .]i) s AR
Pennsylvania . . ‘ 6y um] 16 9 6%
Poople's QM .|i o) s.ii] i el B 4
P. Bl OBF .4 0 b vl davcl itac] A 8
Piteburg Coml | ] ;... - il e IT%
Plerca Ol . . . . .| 16% | 18% . 18%| ..
Pullman Cempany 120 130 ]l2O
Ray Conselidated .| 2234 22314 223 | 224
Reading . . . . .| 840 84 | 84%%| 8413
R. 1. and Steel . ‘ Thle! THhW! T6%!| 76
Rcckblnlandf. 30 i ‘ 21‘;‘
de. pref. s Pt
xRy. Bteel Spring ‘76 TS 76 7la
Sears-Roebuck . 168% 1689 1168% 1168
Sloss-Sherfield. ..| I ' 0
Bouthern Rallway .| 305 3081 208 | 3064
Soun‘\ern Pracmc L ROSg | BOSI OB 308
do. prel. . ] i st N
Btudebaker aßy fil‘hl 2% 81%
BE AW i S
Bimolate QN . . v .i) il BN
Tob. Products . .| ” 8 12 ; 83
Tenn, Copper .. . 8 oran! 14% ] 14%
Texas Ol . <1 /188|188 1188 ’lll
Union Pacific . . 11305 129%130% (1204
U A Ruhhe;r Vo T R 7I§ZV 75%11'{’:
R aeE. e il st
U, B Steel . . . .| 91%] oß%| 07 ["97
do. pref. . Lll2B, 111283111284 1110%
U. Cigar Stores . (1055105 [lO6 [1056%
Utah Cepper . . .| T9%}| 79 9% T 9%
Ya.C. Chemical . .| 65 | 86 | 6 “ 52%
FApEel & o v - el ey s
do. pref. A . .| 88%!| 3815 38%! 38
Western Unjon . ./ 00l B 8
Willvs-Overland . .| 26 | 256%] 2% 26
Woolworth . . . .} | v ..1120
Westinghouse . . .| 43% ! 43 | 43 ! 43y
White Motors . P el o 48
Wilson Packing Co.. 76% .74 Tl T 3%
BONDS,
Y. B Lib. 3%s 197.70 97.50]!97.75“7.00
e 30 4 0 laAolen:an 03 28183 20
e, TN . ,iug.m:‘paAusfM,mfsg.nw
g Jae BTN LA At
0 € 8 vy g P 196, ¥ 1
do. 4th 4%e . /96 B§6/95 .86/65.86 95 80
xEx-dividend.
CHICAGO CAR LOTS,
CHICAGO. Deec. 13- Following are re
ceipts for today:
Today. Cout Insp. 1917
wWhaet . . . 192 113 193 11
COrl o ook i 151 196 180
OMtE 5 . s 1B 180 78
Moms . . .o TR Wi :
WHAT IT MEANS IN AMERICA,
ENGLAND, AND FRANCE
There is a very interesting article in this week’s LITERARY DlGEST—December
14th—bearing upon the most vital topic likely to be discust at the great peace conference
—the Freedom of the Seas.
While Lieutenant-Colonel Repington, the famous British Military Expert, remarks
that ‘1 have not the slightest idea what freedom of the seas means, nor have I met
anyone who can tell me,”” London and French newspapers have quite definite
ideas as to its meaning.
Much of the comment in the L.ondon and Paris papers emphasizes the fact that
President Wilson has not yet defined what he means by freedom of the seas, but most
of the French journals agree with the Paris Matin when it says ‘‘if this doctrine means
any diminution of the power of the British navy, France will reject it.”
Other articles of timely interest in this number of THE DIGEST are:
Making War On QOur Chief Peacemaker
Summarizing All Shades of Public Opinion in America Regarding President Wilson's Visit to Europe
and His Presence at the Peace Table
Turning to the Pursuits of Peace
War Prices and Peace Wages
Shall We Take German Africa?
Russia’s Chaos Laid to the Allies
Abolishing the Private Kitchen
Why Arc Light Globes Turn Purple
New York’s Arch of Thanksgiving
and Welcome
A Way Open for Shakespeare
Cannon for Peace Bells
Christmas a Time for Food Service
(Prepared by U. S. Food Administration)
Many Timely lllustrations Including Humorous Cartoons
Just Ready—New Armistice Edition of The Digest Liberty Map
Fvery patriotic American will want to know just
where Igc war was won and to follow the movements
of the victorious armies of occupation. The wonder
ful NEW Armistice Edition or'l'hc Literary Digest
Liberty Map of the Western Area of the war, now
ready, shows you the German territory surrendered,
the bridgeheads extending East of therfihine. and the
Neutral Zone. It givesthe line reached by the Allied
Armies at the moment when hostilities ceased, shows
German Great Headquarters, the spot where Marshal
Foch imposed the armistice terms, the boundaries of
the recovered provinces of Alsace and Lorraine, and
December 14th Number on Sale To-dav—All News-dealers —lO Cents
'Tis »
Mark of
Distinotion to
Be a Reader of
The Literary
Digewt
FUNK & WAGNALLS COMPANY (Publishers of the Famous NEW Standard Dictionary), NEW YOR
i
NEW YORK, De¢. 13.--Although there
was a weak tone Inevidence at the open-
Ing of the stock market today, initial
losses were generally followed hy a mod
erate rally. 'l‘rudlnf wAR quiet
Steel common ylelded 8-8 to 96 5-8 and
recovered this less on the next few
transactions,
Marine preferred moved in the same
way, dropping 3-4 to 113 1-4 and then
reacting to last night's close within the
next few minutes.
The feature of the trading was the
further sagging off of Broeklyn Rapid
Transit to 85 1-8.
Trading throughout the forenoon was
largely of a professiona! character, with
the enly Important mevement in a nums
ber of speclalties, some of which mads
good gains, while others sustained muae
terial declines, Wilson & Co. moved
up nearly 4 polnts to 76 3-8, and Stude
haker advanced over | point to 3. Gen
eral Electrie was wv,ai(‘ droping 8 1.2
te 149
Steel commen wae steady with a nar
row range of M 65-8 to B, with ether
stae! ghares acting in about the same
m \'v(‘!
\NWrine preferred, after dropping to
113 i-4, rose to 114 3-8 American
Smerting for a time showed strength
moving up 1 points to 8% 3-8, but later
dropping to R 3.
NEW YORK PRODUCE MARKET,
NEW YORK, Dec. 13 -—Petroleum, firm;
crude Pennaylvania, 400
Turpentine CRBY 6.90@7.00
Reosin steady; cemmon, 14706 156.00
Hides, flrmi mative steers, 27% @28%;
branded steers, 261 @26 4%
Coffee, closed
Rice, firm; domestic, £7o@ 1075
Molasses, dull; New Orlean# open kettle
T6@B2; black strap, 18@23
Sugar unchanged
Potatoes, firm; nearby white, J.256@4.76
Bermudas, 5.00@8.00; Bouthern sweets, 3.50
w 4.00
Beans, firm MArrow choice, 1200@
12.60; pea choice, 10.00@10.560; red kidney
choice, 11.260@12.50
Dried fruits, firn apricots, choice to
fancy, 21@ apples, evaporaged, prime to
fancy, 1475, @16% ; prunes, 30s to 608, T, @
1034 ; seeded raisins, choice to fancy, 9% @
13 %
GRAIN NOTEN.
OHICAGO, Dec 1 Sentiment n corn
trade has become more bullish as a result
of the reduction in the crop retur bring
ng the supply down to below the average
domest requirements even with the
carry-over of 118,600,000 hushels, which
wus the largest in ten years, with one ex
ception 1913 when It was 138,000 000
bushels. Many of those close to the coun
try have predicted for soms time that
huskings were showing much smaller re
Yrns than public reports suggested, and
they have kept long a littie corn More
are digposed to buy on breaks than heres
totor Thomson MeKinnon & Co
Jiterery Digest
NEW YORK, Dec, 13T ansition
from a war to a peace basis ghould be
comparatively simple for \White Motor,
In the first place, Government orders
were for its standard trucks, requiring
no great factory alterations and conse
quently involving no great change for
the resumption of peace business.
The princtpal problem is getting sell
ing organization back in shape (o take
care of normal preduction. Though the
Government wag taking the standard
White product it was taking but one
maodel A 8 & result inventoiry and ma
terial stocks on other models were al
lowed to run down It will theretore
take a little while to get tha! material
in and going through the factory fer
preduction of other models
On the other hand, while White has
been runniog 100 per cent war business
for the pasi three or four months, at
the time it swung inte the war game it
had more or less stock in it: sarious
oranch offices and in transit While the
selllng organization hasg been cut down
It has not been cempietely disorgan
-Ized
The White Company management feel
that the domestlec market ior trucks
hereafter is golng to be bhigger than
ever before, for the war has convinced
many people who were unconvinced be
fore of the reliability and stability of
the motor truck. Canceling of war or
ders, In other words, Is expected to speil
only & modest manufacturing probiem
and only a temporary gap in produc
tion
So far as its new lé-valve touring car
i 8 concerned, the White people leel that
at present the truck nuulut i 8 more im
portant and justifies the bending of
every effort to get out a full line. Until
truck production is thoroughly reorgan
lzed not much attention will be given
to the passenger car end ['ntil spring,
White probably will be a 100 per cent
truck proposition
FINANCIAL BUREALU ON STOCKS,
When it is considered that the United
States has taken back three-quarters of
the European holdings of American securi
ties possessed hefore the war a reassim
ulation of at least three hillion worth
and has lent to Europe more than nine
billion dollars and now comes forward
with a hig appetite for new security of
fering there is hardly any doubt enter
tainable that the country faces a period
of unprecedented prosperity if the read-
Justment foundation s made sound
It is contemplation of this perspectlive
that has made for optimistic examinations
from high c¢hannels lately, according to
our advices. Odd lot buying of steel group
were very large during breaks in the stock
market It is expected that there wiil be
a centering in United Htates Steel, R. B
~ Bethlehem and Lackswanna for spee
ulative investment account of this nature
There are good reasons for belief that buy
ing of oil issues, especially Mexican Pe
troleum, will be of first grade on reac
tions at the present tine We are told
on good authority that large speculative
interests committed to the long side of
Mexican Petrolenm and which seld out on
the big advance recently, have teinstated
their lines and are willing to take on
nmor of the stock on breaks
A Vanished Railroad Ghost
Mr. Kitchin’s Plan of Taxation
How Canada Viewsthe President’s Trip
Surgical Moss Wanted for Red Cross Work
A Plea to Improve a Fatal Water Route
Machine-made Rubber
The Scene of the Peace Drama
A Christmas Call from the Red Cross
Are Bolsheviki Mainly Jewish?
The Best of Current Poetry
News of Finance and Commerce
Personal Glimpses of Men and Event:
12,000 towns and villages, with separate finding index;
railways, highways, canals, ete. One special insert
map shows the whole field of operations, including
Russia, Mesopotamia, and the Balkans, and another
the coal and iron areas in the belligerent countries.
Stril\inglyrrin(cd in four colorson strongbond paper,
size 4 ft. 4in. by 3 ft. 6 in., $2.75; on \iyecial Map
Cloth, same size, $4.50; latter style with all Hanger
and Roller, complete, $5.50. To be had at all book
stores or directly from THE LITERARY DIGEST,
354-360 Fourth Avenue, New York, on receipt of the
price. Satisfaction guaranteed or money refunded.
CHICAGO, Deec. 13.—Corn showed an
upward tendency at the opening of the
market today, reaching its highest level
in the January delivery. The market
was strong and offers were ‘aken up
quickly, with locals largely on the selling
side.
Onts showed a slight strength, running
fractionaily above yesterday's close,
Trade was light, but there was a little
scattered buying The locals were imn
clined to sel
Provisions were steady at yesterday's
closing prices, with a moderate trade.
Grain quotations
11:30 Frev
Open. High Low, A M. Close,
CORN
Dea 1.39 1.39 1.39 1.39 1.37%
Jan, LAa6% 1.36% 1.35% 1.36% 1.36%
Feh 136 1.36% 1.34% 1.36% 1.35
Mch, 1.36 1.36 % 1.46 1.36% 1.38
May 1.36% 1.36 1.35 1.356 1.35
OATS
Droc, Tin 1% T 3% 74 T
din 3% 3% 3% 73%
Feb, 78% 73% 3% 734 1%
Mech T 34 738 73% Ta% T 3 '%
May % T % 3% 75 % 7%
PORK -~
Jan e . . reaa 48.50
M'y siine 44.90
LARD-~
Deo . . g 26.22
Jan 26,05 26,10 26.00 26.10 26.23
M'y 256.60 26.66 26.60 26.66 25.76
Rißns
Jan 26.60 26.87 25.60 25.67 26.72
M'y 2486 324.86 2485 2485 24.90
CHICAGO LIVE NSTOCK.
(By U. 5. Bureau of Markets, Dec. 13.)
Hogs Estimated receipts, 77,000, Mar
ket lower Top, 17.80; butcher hogs,
heavy, 17.70@ 17 80; packing hogs, heavy,
16.85@17.40; medlum and mixed, 17.26@
17.65; light, 17.00@ 17.65: pigs, 14.26@15.75;
roughs, 16.00@ 16.86
Cattle Estimated receipts, 6,000, Mar«
ket steady Beef cattle, good choice, 15.26
@19.76; medium and common, 8.50@15.26;
butcher stock, heifers, 7.00@14.00; cows,
6.76@12.26; canners and cutters, 6.16@
6.75: stockers and feeders, good choice
10.00@13.40; common and medium, 7.3@
10.00, veal calves, good cholce, 16.25&'
16.76
Sheey Estimate dreceipts, 16,000, Mar
ket lower Shorn !lambs, choice and prime,
15.00@ 16,15 medium and good, 13 756@
1500, spring lambs, good choice, 12.353]!
13.00; feeder lambs, good choice, 13.00@
14,00, ewes cholice, prime, 9.00@9.50; me
dium and good, 7.75@9.00
ST, LOUIS LIVE STOCK MARKET.
BT. LOUIS, Dec. 13, —Cattle: Receipts,
2,000, Southerns, 130; market stemly. Na
tive beel steers, 11.50@ 18.50; yearling bAt
steers and heifers, 9.504016.00; cows, 7.76 @
12,60; stockers and feeders, §.50@12.00;
calves, 77.70@ 17.50; fair to prime yearling
heef steers, 10.004p18.00;. Southern prime
vearling steers and heifery, 6.50@8.00
Hogs Recelipts 2.000 market strong.
Mixed and butchers 17.25@17.56; good
17.60@17.656; rough, 16.25@16.40; lights,
17.60G017.40% pigs 13.00@16.00; bulk,
17.26@p17.65
Sheep Receipts 5600 market steady.
Ewes, 800@900; canners and choppers,
500@9.00; lambe, 15 004p156.50
("SAVEN
)
Ty
SERVE