Newspaper Page Text
THE SUNDAY AMERICAN'S FINANCIAL AND BUSINESS PAGE
Telegraphers’ Strike, Unrest Abroad and Break
in Securities Prevents Values From Making
Greater Response to Bullish Situation..
By VICTOR nmizbn.
HE stability of the cotton
l market was given a thorough
test last week and the way
values ware sustained was conclus
ive proof that the
oslan e bull crowd uei
P | masters of tbel
- SN situation,
B Despite a week |
B s of political un
"T ... "W certainty, the
S -@l telegraphers
LT e e strike and. some-
MBee - .% B what more favor
e w& able weather than
has recenfly pre
,mj vailed, the mmarket
i w more than held!
G its own, fugures‘
at New York
i . i closing the week
SRI R 190 to 255 points
R R above the pre-
L vioug week's
| —_— close, while val
» ues at New Or-
Igils caussea a net gain for the
week of 220 to 287 points—sll to
- $14.35 a bale.
. While the upward movement was
partly due to technical reasons,
owing to the break of a week ago of
- almost 4 cents a pound, the con
- tinued prevalence of rainy weather
over many sections of the beélt, to
gdther with a constant stream of
pessinristic erop advices and strong
spot markets, furnished sufficient
ammunition for the launching of a
fresh bull campaign. Had it not been
for*the strike of the wire men, with
the announcement that it will be
eome nation-wide Monday, which
was accepted as meaning serious de-
My with communieation in the in
terior and other markets and result-
Ing forced liquidation of acounts on
account of not being able to keep
margins good, the market, without
doubt, would have made even greater
response to the general bullish un
derlying factors. Thig forced many
/who really desired to enter the
market to await further develop
ments in the strike, as well as shak
ing out many weakly held long ac
counts, In addition to this business
was held in check to some extent by
a disposition to await the final de
cision of Gerpnany to the reply of the
pllies to her counter-proposals. Re
ports of fresh uprising abroad glso
wasg given consideration by the l’or“
conservative element. ‘
NEW CROPS MOST POPULAR.
Nevertheless, the bull erowd could
ot stand idle, nor were shorts dis
‘osed to stand aside and allow
chances of covering comparatively
cheap prices slip by. Demand alsn]
came freely from trade houses—here
and abroad—and leading spot housvs‘
and several big speculators were
anxious buvers. Expansion of values
was inevitable. New erop deliveries
were the most popular. Bullish en
thusiasm was at top-peak Monday
when values at both markets soared
the full limit-—slo a bale. This illus
trated the danger of being caught
short in & market that is liable to
register seénsational gains at any
imoment. Those selling cotton short
apparently have forgotten that the
bull ecrowd still have yet to play their
best triumph—the signing of peace
and lifting of the embargo on comn
shipments, This was followed by
Q!flhor gains Tuesday, which car
ried July (New York) to 3220, or
within 60 points of the high record
of May 26. October rose to 31.30,
while December touched 30.95, Janu
ary 30.66 and March 30.30. July at
New Orleans advanced to 32,50, Octo
ber 30,70, December 30.40, January
30.00 and March 29.90. At the high
est quotations futures exhibited a
net gain of more than 3 cents a
pound above Monday's low levels—
for most active options.
Naturally after such a stiff gain
longs was increased. The later, how
ever, took fright and sought ecover
on the merest spark of unfavorable
weather news, crop advices and other
items of a scary nature, However,
the market ruled more or less nerv
q:m with fluctuations rapid and er
tic late in the week. Everyone ap
parently appreciated the word “cau
tion” and abided by its definition.
But there was no abatement in bull
ish sentiment, nor confidence of a
better response to the various un
*erlyinn factors.
BREAK IN STOCKS HURT.
A glanee at the aforementioned
week's appreciation in values, one
might gather a better idea of the
strength of the market, especially in
view of the fact that the market had
to absorb a great deal of contracts
thrown into the ring by Wall Street
speculators, ogeasioned not only by a
desire to break cotton, but liguidation,
or rather short selling, as a hedge
agiinst severe losses sustained in the
gocurity market, owing to drastic
sélling, due to the tight money
market, brokers’ loang having risen
as high as 11 per cent on Friday and
seal gllt-edge shareg breaking vio
ntly=-many to the lowest point in
fi.mha. And the stocks that suffer
the most were not the ones the
public has gone wild over, but real,
sound Investment shares-—tractions,
motors, high class 01l tssues and steel
shares, There's an old saying th;n‘
Wall Street and the grain vrnwd‘
never use the eotton market except
Ay A lll\ll-ld to recoup losses suffered
‘in their respective departments, |
The 'strength of the market also
brought out a better demand from
axporters and domestic spinners for
the actual. But advices from the belt
stated that offerings were light and
commanding top prices. The spot
qmuflon was thusly summed up by
Would you be nterested 1h hah
diime a rEe hlock of ndustrin!
stodk (not mining or oil) for u Wes!
erni: corparation” Interests the most
onkervative investor Address K. A
Ogden, 621 Symes Building, Denver,
Cotprade,
ra veteran of the trade: “Spot holders
have gone back in their hele.” That's
just about right, too. It seems as
if holders of the old crop now are
financially able to withstand any kind
of pressure, as their purse recéntly
was made fatter by the selling of a
few bales at prices better than 33
cents. Word from many sections in
dicate that most holders are standing
firm for at least 36 cents.
GOODS MARKET B'IJOYANT.
The bears further were apprehens
ive over the geods market, which
continues buoyant. Print cloth sold
in New York during the week higher
than ever and the demand for goods
showed no abatement. The National
City Bank in its June circular sum
med up the textile trade in these
words: ‘
“The National City Bank's month
ly review says that clothing and all
textile goods and raw material are
in great demand and short supply.
Dealers instead of being afraid of
overstocks have become afraid there
will not be enough to go around.”
Business at Manchester continues
decidedly active. *“The whole textile
industry is in a very flourishing
‘condition,” read a cable from Liver
pool.
- With the domestic situation so
pronouncedly strong and prospects
extremely gloomy, labor scarce,’
acreage sharply reduced, season
three weeks late, approaching criti
cal period of the season, Wweevil
‘menace peace in sight and many
other items equally as bullish, the
feeling hag become almost unanimous
in conservative circles that the sup
ply of cotton this season will be far
below the* world's requirement.
Therefore, it certainly takes a great
deal of courage to sell cotton short.
CROP OUTLOOK ALARMING.
That the crop situation is becom
ing alarming was furnished in the
issuance of two private semi-monthly
condition reports. One called for a
congdition of 69 per cent and the
other 71.7 pér cent, as compared with
official May report of 75.6 per cent.
With the period to:be covered by
the ' government ‘condition report
more than half gone, and, as the
weather shows, signs o& continuing
rainy, there is a #m next
will ‘be sensationall§® under
e condition 'of June - last
vear—Bh—upon whichk the govern
ment estimated the erop at 15,825,000
balgg. Many sections report that the
erop is so poor that farmers are
plowing it up and replanting in corn.
A wire from Central Alabama said
‘the crop outlook is by no means
promising at this time; fields very
grassy and labor hard to get at any
prige; plant has begun its growth
without any tap-reot and if a dry,
hot July-August should follow these
rains this would turn out the short
est of the five past crops.
From the Delta eame similar re
port, Yazeo City reported present
condition of the crop in that terri
tory around 64 per cent. Cuero,
Texas, wired crop outlook poor and
boil weevil bad. iy
Pine Bluff, Ark., reported that cot
ton is being plowed up and replant
ed in corn, owing to grassy condi
tion and scarcity of labor.
IDEAL FOR WEEVILS.
A leading crop autherity asserted
that there may be considerable boll
weevils this year, as the open winter
and wet spring made ideal conditions
for them,
And as it takeg hot, dry weather to
fight this pest with, the crop ean not
withgtand the prevalence of this kind
of weather,
The government's weekly weather
snd crop report said cultivation gen
erally progressed very well but
grassy fields continue rather extens
ive in many localities with consider
able labor shortage reported; condi
tions fairly satisfactory in the east
ern portiong of Arkansas and Texas,
but elsewhere west of the river gen
erally poor,
Exports for the week amounted to
139,000 bales, or 111,000 in excess of
the outgo the same period a year
ago. This brought the total so far
thig season up to 4,662,000 bales, as
compared with 3,810,000 the previous
corresponding period. |
487,998 Bales Coltton
Consumed During May
WASHINGTON, June 14 —-Census re
wrt for May shows number bales for
l);“ and 1918, erspectively: .
Cotton exclusive of linters,
Consumed during May, total 487998
and 676,266,
Held in consuming establishments
May 31, 1,300,860 and 1,793,295,
Held in public storage and compresses,
3,450,944 and ).404.!2,.
Imported, 36,812 and 20,635,
Exported, including linters, 444,718
and 110,543
Held in econsuming establishments,
272,683 and 168,084,
Hald in public storage and compreses,
212,406 and 276,072,
Export, 889 and 12,012
Spindles: Number active during May
83,506,011 and 33,691,676
o
J. J. Williamon Admitted
To N. Y. Cotton Exchange
J. J. Willlamson, one of the most
prominent spot cotton merchants in
Atlanta, with offices in the Trust
Company of Georgia bullding, has just
been elected & member of the New
York Cotton Exchange. Mr, Willlam
sqgn has been in the cotton business
hére since 1904, moving here from
Woodberry. His business during the
last few years has grown considerably
and today he has agencies at all prin.
cipal concentrating points in this
State and Alnbama.
JACKSONVILLE LIVE _STOCK.
TACKRONVILLE June 14. ~ Hogs
steady Recwipts Hght, Prospects steady
Extras cholee heavy, 18 Nf[unu, nvvllllllJ
cholee heavy, 15006 15.25; Fough heav
10.00@ 1500, lighte, 18 oocu‘vu ",
12,5060 1750 ringe roge TLon #IB4O
range pigs, 6.004 900 ; y
Y Osttle ecofpts o light Prospectd
oy Steors, lnm: 00 bulls, vb LLY]
B 60, vea bings B.IMGON0; cows b 00:
00 heifors, 5008000, vepl calves, KBO
300 ayners, 400 upoeWilllamson &
EI_E_AE:T_‘S*§UNDAY AMERICAN - A Newspaper »!91'”Peopl. Who Think — SUNDAY, JUNE 15, 1919.
o »
lwm S COTTON RANGI.I
'w lhowg the highest and lowest
g'uo ns 1:::.' o‘B e t‘dtmtontlm at New
“ '“ -
er wlt.: Satarday’s . close, the 'prellm
week and net changes for the week:
Nf! YORK
| Th Net
|High | Lew lslfle!!l Ago.[Chis
o oee [ 32.201%20.30/31.20(20.30| + 190
October .. |431.30/*28.25(30,58 za.g +-233
ber o 30.95/*28.,00 30(25|27. im
Y 30.66/*27.70(30.10/27.67| 4 243
- *27.65/20.96(27.40] 4 255
| Sttt esedmmions
‘ NEW ORLEANS
| I | | ¥ri. | Wi,| Net
| ligh | Lew |Close| Ago./Chgw
| el o| SN s
e +§3.sn~i€4o fi“.wm.ulum
October ... |+430.7% '".4330.25 27.43| 4282
December igx *27.15(29.90/27.07 1“3
January . LOO/*26.95 20,65 zo.a&l 280
‘n,:h-....‘ +20.90/*27,30(29,40(26.53] - 287
onday; -+ »
I 0
NEW YORK, June 14.—There Worc|
some irregular movements in today's
quiet session -of the cotton market,
with the tendency generally to luwvr‘
levels. The disturbed local money
market conditions, together with the
unfavorable weather reports and the
pearluh census bureau report, were
facters in the training.
At the start prices were 7 to 31
points lower. Following the call there
was a slight rally, but this was not
supported and prices slumpea buuk‘
again. Toward the end of the first
hour another rally occurred which
carried prices up to about yester
day's closing level,
In the second hour price movements
were narrow. There was some buy
ing by Wall Street interests that had
previously been sellers. Toward the
close heavy profit-taking occurred,
which sent prices down, final quota
tions being 14 to 40 points lower, |
Spot cotton was quiet 10 points
lower, at 32.75. No sales. ‘
New Orleans spot cotton was quiet, |
prices unchanged at 31.88. Sales, T 44
bales. |
—___NEW YORK COTTON |
—|Oven. High. | Low. [L.Salel Close. |Prv.Closs.
July [31.25/31.40/31.05/31.20/31.20-24]31.34-40
Oet, llO.GMKO.Db{.’lolit'til().:')l 30.58-66(30.85-50
Dec [3O 30}30.66030.20;30.26;30‘25-30]30 60-71
Jan, [30.30{30.46/30.15/30.25/30.10-28 30.60-55
Mar (30.15/30.30(30.00/30.0029.95-30,30.27-31
May §....0.....[....1.....120.80 30.17 |
Closed steady. ‘
et e
NEW ORLEANS COTTON ‘
———e e e e
lfi@,lux. L'Salel Close. | Prv.Close
July 131.83(31.90(31.35/31.68(31.58 131.86-90
Oct, |30.40[30.50(30.05/30.29/30.25-29[30.46-46
Dec |3O 00332 12(29.70{29.92]20,90-95/30.10-14
Jan, [39.81(20.82(29.78(29.78/29.65-70/20.60-70
Mar [(29.62(29.62(29.40(29.40/29.40 [29.62 ‘
e b s
Closed steady. |
e = e
w BFUT COTION.
Atlanta Commercial Exchange guetes
basis !UM middling, 32.50; sales Friday,
1,000 es.
New Orleans, middling, 31.88; sales, 319;
arrived, . 425,
New York, middling, 32.75.
Liverpoeol, holiday.
Savannah, midadling, 32.00.
Augusta, middling, 31.37. ‘
Boston, middling, 32% 1
Philadelphia, middling, 33.15.
Charleston, middling, 31
Wiimington, middiing, 30,
Memphis, middling, 32
Norfolk, middling, 30%.
Bt. Louis, middling,, 3%,
Dallas, meddling, i 1.90,
Mobile, middling, 30
Houston, middiing, 32.
Little Rock, middling, 31
Montgomery, mldnnm’, 30 '%.
Galveston, middling, 32.60
ATLANTA COTTON DIFFERENCES.
Middling fair . ... ...cooneranns 162 nn‘
Strict good middling ......000000 I.!{\ on
Good middling . ienstbonssess B BB
Middling RbR ‘Huns
Strict low middling ons Niisonss sDD uff‘
Yellew Tinged. = |
Good middling e 1116 off
striet middiing g s saness DR U 8 |
Yellow Stained. 2 £
Good middling & “k ceo 2800 off
ATLANTA COTTON SEED PRODUCTS, I
8.8 F xv-dl
Descriptions- Prices. |
gnm. oil, basis prime ~.....e5. ¢ ".‘
“otton seed hulis, loose $16.00
Cetton peed meal, p. ¢. common . 55.00
Cotton seed meal, 7 p. ¢ Georgia w
eommeon rate point iivars 9508
Cotton seetl hulls, sacked . .nominal
WEEKLY WEATHER FORECASNT, 1
WASHINGTON, June 14.--The weather
bureau today issued the following fore- |
cast for next week {\
South Atlantic and Gulf States——A weex
of generally fair weather, although occa \
sional thunder showers are probable
Nearly normal temperatures,
Ohio Valley and Tennessee-——Oc« ;mm.."
local thunder showers are prebable, al
though f#r weather will prevail the sec
ond half of the wgek in the Ohilo valley.
Temperatures will average abouve normal
Region es Great l.‘|\|l Generally fair |
weather will prevail duYing the week, al
though some prospect of local showers
first half ever porth portion Temperas
tures above normal first half of week and
nearly mormal thereafter
NAVAL STORES.
SAVANNAH, Ga., June 14—
Market, spirits, firm; regulars lna"‘
sales 30. Market rosin, firm; WW
16.60; WG 16.60; N 18235; M 16.256;
K 15.85; I 1.535; G 15.80; F 156.30;
E 15.25; D 15.00; B 15.06; sales 569,
Receipts, spirits 166, rosin 455. Ship. |
ments, spirits 11, rosin 500, Stocks, |
spirits 6040, rosin H 4981, ‘
ATLANTA COTTON STATEMENT. |
Baturday
1910, Last Wk, 181 K, 17
Receipts ‘e i 1,206 . 792
Shipments 1.476 6 657 1,228
Btocks 7.100 29,023 19,034 48,245
Bules 1.000 1.000 31k "
Bpots 12.50 3060 26 46 M 0
CHICAGO CASH GRAIN, |
CHICAGO, June 14 Cash: Corn Nn_:
mixed, L76@1.756! No. 2 white, 1. M; No
yellow, 1.57 No, § yellow, 1.7 No. 4
white, 1.73;: No. ¢4 yellow, 1L.73
Oats; No. 2 white, TIH; No J white
AR EITON; No 4 white, 60 ; standard,
Vel \
NEW YORK PRODUCE MARKET,
NEW YOR} June 14 Petrolgum firm
Crude Pennsylvania, §4.00
Turpentine firm, 117
} n firm,; common ‘\l.’\ 50
Hides firm on sales Sutive steers, 17%
@iy, Wranded steors, 94 ‘
Coffee steady options opened 6 to 11
points higher, Rie No 7on spot M'l
S ice firm: domestic, S% @911% |
Molusses firn New Orieans open kettle,
60 5 binek wtrap, 13@17 ‘
Haw sugnr steady and unchanged |
THOMSON M KINNON ON STOCKS
NEW YOR) June 14 Runmors are
afiont in rogard to & combination «
tractions including Interbaro Brooklyn
Hapid Transit Third Avenue and other
New York Clity tractions. Detalls are Inck-
Mlmn {ing bankers are now exerting thep
solves to ereate an Interemt in foreign
securities and such & wovement hould
be beneficial In the long Fun, even though
temnporarily affecting our money market
an it will mean a bhig market for Amer
jean products W k«end money needs
b n@ heen watisfied, thers may be some
recovery today .
WORLD (OTTON CONVERENE
,The “world cottan vonfersnge’’ will bha
eld i New Orlewns Oetoher 158.14 p
.uvlv.( 1o nn Annauncement from Livers
800 Shten " thousihd delegntos
}!n.:, allb cauntries aof the glole are ex
s ? et |
New York Stock Quoiations
" Market closed irregular. '
Total stock sales 663,600 shares,
Total bond sales $5,222,000.
Total stock sales for week 8,200,900 shares.
l Total bond sales for week $68,278,000.
‘ el anlPrev.
STOCKS— [High. Low eOl
4
Ilis-Chalmers ~ .| 411/ 41
:rlx‘n. Int. Corp. o .|104% 12}& lgé g{u
Amn. @ine . 4 . Ha 8 TN
Amn. B. Sugar ~ . ::% Bl B 8 i
Amn. Can . .., .| b4o 3 8 103¥ 191
Amn. Car Fdrr. o J 103% § § i
Amn, Cot, Ol , . ll wxi N
Amn, %oco. i e 114 00l 3183
Amn. Smalting ~ ,| 8 ng‘ % % &
Amn. Steel Fdrs, . ;n@ 1:“;: 3918 ‘
e kT 106 % 106 © (106 %108 |
san w"oul‘en . wll2 T 110% (111 }("I%J
8 B O < aiwl isal an i 1
Amn. Linoeegl 00l g: 1?3 13“ 1%
)Alr'fna"lfngnd“l} it 31k 52
’A do pref. ... .1123%|123 123 124
‘ . SR S
B o Pl L G I‘}ss‘ s 3% t“
A B . o aain “;2
Amn. W. Paper . . e bt 8
Alloy Steel .. o - §e 3
Alaska Gold , , . . wicheoic] al g
Anaconda . . — ke "1” wdl B
A 0 Tanh Lt BTN 20 00N 1035
At, Co " S s [ 44
Baldwin Leoco. . . . ;:i| 23:?? go‘:‘; i
Bal, and Ohio . , . b ‘l.' 215& 4t
Boothsfia?e;'l_:: i .lfy..‘ 1N ey
th. Stee o i) aais L
g:tg. Steel 'rß o o) 89| 88%| 89% ::*
iifi‘i‘{l‘ Superior . .| 283/ zm' zs‘yg. is’x,z
Butte L 0 apd &. .| ... ]bob oL 32
Cal. Pflroh{'um &o e 'il o
do pref. . . .| sk $
Can, Pn':'l:ln eee .~1fi.1% lgl“.' lg}% 164%
Ches. and Otvno ae |64 " ohitl
C. nag N.ngyll. Meoliekal (40 H U
X . B i % o esdn
oM. and Bt p.. |42 czyg.’ 124 &
O PPRL. < o o] sien] s ....‘“
(‘hlnoit‘,o?‘pe: B | ‘IH‘ “l‘-i u‘% 100“
Consol. vl o el ik ey h‘% s eeu
Corn Products , .| 637%] 69 4
Crucible s:ml g¥l 90 ‘l'l%l u.) B
~ A uga ¢ 5 sp 4y 24 e . 2 ::x,l/
2:3%3:2 C. Sugar ~| 33%! 33 3:("9.‘ 334
cnat" o Bipe ©o} ) )4 S
ast Ir cohtag! il 4 ‘
Central leather .'IOO% 28
(‘:flln Copper ... .| 26%] 264 !S% ".‘2
Chamdier Motor . (l. il R
Columbia Gas ~ ‘ = Sos! soul oas
Corre-de-Pasco + .| b 0 okl Skl ot
Cont. Can . , .9% 105 e
Del, and Hud. , . sh fi% irl %%
T ik e 1:4 M S
do pref. Ist ~ | 28% l,A,’ oA T
S BRI "5 f cis o] cceel e .
(l«-ll Motors .. :: ‘2%‘42?:% ’76
Goodrich Rubber , q%‘ g:"t'. 831 88
G Norr pref e o) 98%8| 931 88%| 9%
v . wrel., . . .
= 5 viutaf 4894 “‘al 4% 4g:/z
Gt. Welll(‘r;l o ks 00l soal aed B 0
O et . e liF s &8
Quit States Steel .| 68 |63 ‘6" a4y
()mned‘nn?nea Dok oAI N ’ |9%
I Centrel ... f -::4 i slag
nspir. Copper , .| 58 ¢ 5% "
ln:srhoro byt ol 7& 7’.! l“ % 2
e prel. . o i iive 25 HE
Ind. Qlcohol . ...llfio,/ “:Z;{ l;:_’: N
Int. fokel . . . .2!‘@ 55%' i
TR $e 2 Y 5”1“ 995 | 997 10114
Keystone Tire , .ll“ ‘;‘* g
Int. Paper ...... ‘20% 11; 119 Hi%e
K’"’-(al’l‘. Sou. . 'll o W z;a
Kan. City - e of roaed saadl
Kan. and Texas | i lu‘ il 5%
de prer. -, . Ay Sk o e
Kennecott . , . . .| 39% :::I ‘g\ 8110
L vaney . | 88%| 83%| 3% 635
high falle v - f ,
l::\r‘lgard § o iAT ".%‘,)1?., Sin
100 TUE: . . ¢ W ikiil Eias
CHICAGO, June 14-—The grain
market displayed more or less
strength during the entire session to
day. July corn showed gains of 3-4
to 1 1-8 cents, September 3-8 to 3-4¢
and December 3-4 to le, Cash sales
of corn totaled 35,000 bushels., Week
ly receipts 6,412,000 bushels. Outs
closed 1-B@l-4c higher. There was
a strong under current in the mar
ket for oats on buying, by shorts. Pit
offerings were rather small with the
possible exception of grain that came
out from the hands of longs and in
which there was a profit. Weekly
primary receipts totaled 1212000
bushels. Provisions ruled higher to
day with the bulk of trading confined
to lard and both deliveries established
new high points. July pork touched
$62. Lard July was up 36,356 with Sep
tember at 35.50. July ribs highest was
28.35 with September at $28.25. Shorts
covered freely on the strength dis
played in hogs and corn. Commission
concerns had several good buying er
ders to execute,
Grain guotations:
Prev.
Open. High, Low. Close. Close,
CORN i
July 1.78% 1.76 1.13 1.73% 1.73%
Sept. 1.866% 1.47 1.66% 166% 1656%
Dec 1.44 1.46 1.40% 1L44% 1L4%
OATS
July 694 6% 68N 9% 69 %
Sept. 68% W9y 67 % 6814 68y
Dec 68 '%% 9% 68 68 68 b
PORK
July 5176 8200 6145 51768 6186/
B«F(. 49.65 49.66 4906 4950 49.30 |
JARD-- |
July 2613 3638 3540 3580 3585
Sept 3486 3070 J 4.50 385456 35.75
RIBS |
July 28.36 2836 2810 2830 38.34
Sept. 25.00 2320 2800 28512 2817
‘ CHICAGO CAR LOTS |
CHICAGO, June 14 Following are re- |
ooipts today: '!
Wheat s Easbtiostassssstbo it BRI 17
Corn SABEERssIS ressesetsem 156
BB 4o conhnsvas g setesatntnsing 173 |
;ll:xn A . . svsvorns IO
——— |
|
| ST LOUIS LIVE STOCK MARKET, |
#T. LOUIS, June 14-~Cattle, receipts,
boo Market steady native hpt nm-.-‘
11.80@18.00; yearling steers ana heifers,
9.50@ 16,00, cows 1060@12.60; wstockers!
and feeders, 10.00@013.50; calves, 13607
16.26: Texas steors, 9.0@14,00; prime
Bouthern steers, 7 104 14.50; beel cown and
heifers, 6.60@5.00, cholce veal colves, 13.50
1626 C |
Hoge-—~Receipts, 5600, Market 151 6 |
higher, M xed 07060 41.35; good, 21,2954 |
21.40; rough, |lf 120,00, lights, 20500 |
121.20; pign, 1600@19.50; bulk, 20800
21.36.
Shoep - Receipts, 360 Market steady. |
Bwes, 700@5 10, choppers and cannersy, |
4508 7.00; laml 15,300 15.80, i
| o
CHICAGO LIVE STOCK MARKKT, :
CHICAGO, June 14 (By Untied Btatos |
Buresu of Markets) i
Hogp Heceipn 00; mently 16@20c!
higher o 1.2 bulk 20 lh?ll 1
henvy, 20 %6qp211 medium, 20.80@p21.5
Hght, 18.76@ 2085, houvy packing sow
wmooths, 20 46 G2O 40 pueking msows |
rough, 18.765 a 2 piwe, 17.70@ 18756 |
Cattle - Receipt vnmrund with »
week ugo 0 hoice bheaf steels about |
stondy Medium and Hghtweights steady |
to 28u higher Fut cows steady to 206«
lower MHeifers and low grade she stock
stoally, bulls 26 b 1 higher; veal calves
|’.ug| 78 highet Frtockers and feeders
Nleady to strong
Bheep— Recoipts, 9,000 Market compured
‘nnh wek ugo Fat shorn iambs weak o
he lower springs 6@be lower Bhée)
yearling mos! ¢ lower Foeding and
\hrrad!lu. stock about steady i
| NEW YORK MONEY MARKET,
‘ NEW YnOi 14 4'all money or
the New Yor) Kxchange during tl
past weoek ro betweent 8§ and 12
eent M roant per was I modern
demand, 4 ju Ing practically ¢
minimu mrate
Timie money w wroe during the weol
with some | Ve n o renewal t
EA per oot ! el nipety -da
loutie ou indu « well a 8 o 8 s
volinteral . l
|High [ Low [Last Prev.
STOCKS— | A |Bale|Close
¥an "‘.‘i&. v ...”. “. .i..11l
xXweo otors ..| 4 4 4“4
H&ll Pac. (new) fi% 30 aos 30
Mex. Petroleum ~ |1 1763 (178% (178
Hurl‘;u‘_‘. B e ’:?i“fi l::: :9& 18
o pref, ~ ~ 116%]117
MIN W 8 BW . i LG N 1
Miami Copper ~.| 27%]| 27 27 27
Midvale Steel , , .| 491 48% 494% |49
Nk Bt G eLo s L Ll 80
Nat, Enamel ... .| 76 |'97%] 74 76
gkh‘. Pérod.! i oo ;:% 7:% 10 |lO
o . Central . | 8 9%
IN. ¥, N. H & H. .| 30%]| 30%| oz 304
Ak, lead . .. 90 7' 79 78
1&:. "'f» v:“ s - lgg“ 1:. 1(.>g1,6 108
o Facitie . . 95
N B o bWU .v‘ azll
New, Oop. Copper .| 00..] tunid.ivi] 19
N Foßisbeaka o) 00l oo bl e
Ohio Olties Gas . . | 55% ! b43g| Bave| 65%
Pitts. W, Va. Coal | ::::2] 3910 :0& 39
Pan-Amn, Pete ... 921(| 91%) 91%] 9214
Fagitie. Mall ". " .[ bt ol 3
Ponnsylvania o ... 45%) 458] 46%] 46
Plorce-Arrow . . | 508 | 5814 il:z‘ 9%
g:ople‘- Gas ~ .%] 521} h2lg| B 2 62%
essed Steel Car |Bl 81 81 81 |
Plerce Ofl .' ~..[ 23% amt:m 23
FUtabury. Coal & o] oo b ibieb b ovil 818
Royal Duteh (old) [llO% 110%[110% (1104
Ro;fl Duteh (new) |llOls/107% 1108|1101
Bay. Consol. ~ . 24&: 24 2431 4%
Reading . . o o .| 87%/| 86% | 86%/| 87
Rumley . . . o .| 44%] 44 449146
o AB, |BO 87 87 87
Rook llsland , . .| 26%| 26 | 26%| 26%
B i ¢ f RN
Nl IARd B . il il vl Vil S 8
Ry Weaal Springs . .. vl )L a 9
Sloss-Sheffield ~ . GZE 623] 62%] 63%
Sou. Pacific . .....]lO5 Ilocu 106 3 rogu
Sou. Railway . o .| 20 | 2045} 30 | 2044
do pref ...q.... 69&
studebaker ..7 (11017} 99| 99 |1014; |
Bt. I, & Ban. P. .| 20 l’% 1% 20
Sinclair Ol . , .| 69%/| 6842| 881/ 60
BRALOOK, AL go of (ooedi o Bl lER
B W ke gk e B eR il 8
WA s d ot o skl 308
SWIR &Co ¢ ] .30 anF i
Btutts . s . ~o ] TONR| 7O ‘O% ol
Tobaceo Prod. , . 103-‘)‘, 102 lgx 100
Tenn. Copper ~ q 13%{ 13 3l 13
Third Avenue ~, .! ..., ‘ Eft%l
Texas Olf . ', ...[261 (2591 '26014(264
Texas Pacific . . .| 49% 4s-,gl 4915 ] 49%
United Fruit , ~ (i8238(1828 1824 /183
Union Pacific , , 1315 181%131%[131%
ao-Prel. . & . .infusiiie 18
Food Prod. . , .| 76%| 76 75 5%
U. 8 Rubber , .|1163%[11456[116%]|114
O DN 00% ] il il oi it
U. 8 Steel o , .[106%[1043 [106%[105%
o e . . ....'VH.US“
United Cig. Stores .[154 152 1524|154
Utah l‘.ogpc-r s ] Y 8.%, 911 Rsz
Va.-C. Chem. Co. .{ 76 75 75 75
do pref. . , .|113% u.w'u.w #
Wabash . . ... .| 10%]| 10! 10%] 10
a 9 L. Ao il siislsai ¥bl B 8
Weatern Union , .| 89%/| 891 | 891, 8§
Willys-Overland , .| 34%] 343} 34%] 34
Woslwwith .~ . o geiidrivent . v 1937
Westinghouse . ~ .| 56%| 55 6514| 66
White Motors ‘ 56% | 664! B6Y| H 6%
Wilson Peck. (o. . ll‘_/!l 1% 91%| 91
‘BONDS,
U. 8. Lib. 3%s ....,.94462 99.62 99.52 9!.3,
U. 8. Lib, Ist 48 ... 95.00/95.00/95.00/95.10
U. S. Lib. 24 43 ....|93.96/93 96 93 9692 08
U 8. Lib. 4%s ....95.30/95.30/95.30/95.40
U. 8. Lib. Ist 4%58 ..|94.20/94.10/94.10{94.14
U, 8. Lib. 24 4%8 ... [95.40/95.36}95.36/95.40
U. S Lib. 4th 4%s . [94.26(94 26194 26(94.24
U. 8. Lib. 6th ......!99.90{99.90(99.90{99.94
S ———
CHICAGO, June 14.--Closing hog
prices today touched the high spot
for the week, prices advancing 15 to
20c with a long string of s2l to $21.10
sales Top hogs reached $21.25, a
grain of $1.25, compared with the
close last week l‘riu»y were actually
higher than indicated as buyers took
hogs mixed to hold down paper cost
Cattle closed on about the same
basis as last week A few shipping
orders made a clearance in the steer
at prices strong to 15 cents higher
than the Thursday lowest spot pos
sible, but the trade attached no im
portance to the improvement as a
liberal run is on the horizon for Mon
day
Choice calves at $17@17.75 were
$1.75 per hundred weight hlgher than
last week All kinds of cows, heifers
and bulls closed 45 to 50¢ higher than
last week
Sheep and lambs showed declines
of from 25 to ioc lower than a week
ago. The Imt was $18.25 at the close
wth most of the fat ewes at $8 to
$8.50
The Lanham Cotton Cultivator Company is now ready so consider the
seleetion of a site suitable for the establishment of its factory.
[t has been offered several loeations in and around Atlanta, bus up fa
this time has not been prepared to make a decision in this matter. The coms
pany is now ready to receive proposals from owners of suitable tracts.
Such proposals should be made not later than this week. They should
include all details of information as to aereage, location, position as re
oards railroad trackage facilities, ete. All proposals will receive due cone
sideration. The proposed manufacturing plant is to build the Lanham Cots
ton Chopper-Cultivator. Aecreage must be sufficient to accommodate a large
plant and permit of expansion later.
Proposals should be made to
Lanham Cotton Cultivator Company
NO. 425 EMPIRE BUILDING, ATLANTA
CALVIN TICHENOR, President
. . . .
Financial Sunshine
Reflecting the heavy volume
of business here in practically
all lines, Atlanta bank clearings
last week were the heaviest for
some time, aggregating $59,001,-
32021, as compared with $41,-
676,573.47 the same week last
year—a gain of $17,324,746.74.
NEW YORK, June 14—The dis
turbed money market induced fur
ther lquidation in the high-priced
motor and 01l issues during the easily
dealings of the stock marke today,
but after the early unsettlement a
steadier tone developed and prices
showed a rallyving tendency.
The greatest selling pressure was
exerted against stocks like Texas
Con.pany, Royal Dutch, Mexican Pe
troteum, Indiana Alcohol, General Mo
tors and Studehaker, which showed
early declines of from 2 to 6 points.
These issues made substantial ral
lies toward the close, General Mo
tors, after ylelding to 208, rallied at
the close to 209, while Royal Dtuch,
Texas Company and Indiana Alcohol
rallied over.l point from their low.
The copper stocks made good im
provement and rose over a point., An
aconda rose over 1 point to its high
price of 71 3-4, while Utah at over 2
points higher at its high of 91 1-4
Steel common, after early weak
ness, rose to a closing of 106 1-8, a
gain of nearly 1 point. The other
eteel issues made fractional advances.
Marine common was strong on the
report that the sale of the company's
ships to a British syndicate might be
blocked and rose 1 1-2 to 49 1.2
The railroad stocks wert qulet and
irregular
NEW YORK CLRB STOCKS.
NE WYORK, June 14.-—Prices generally
moved to lower levels in today's short ses
sion on the curb. Most activity was
shown in the 01l stocks and a few indus
trinls. The tobacco stocks and the tire
and motor issues displayed steadiness.
The moining stocks were quiet,
. Open. Closé
Salt Creek .... 0030“& 00}2 00&
Aetna Exp. . . 9% 10 10 10
Anglo. Am. Oil 234 @24 !t}‘ 24
Barnett Oil é o% 36- 6 (}-0
Cons. Copper . .
Cosden Oil . . 10%@ 10% 10% 102
Curtiss Aero. , 15 19 16 19
Houston Oil . 116 122 117 122
Indiana Pipe . 100 @lO4 100 104
Inter Pete , ... 28 @29 28 28%
I V. Conl s B 0 92 90 92
Magma . ... « 36 38 36 37
Marconl ~ .». . o}2 !:2 4% S&
Merritt Oil . 4 273 28 27N 28
Midwest Oil o . 3 2l 2 2%
Midwest Ref. . 177 @179 177 179
N. Am. Pulp .. 6% 6% G @ 6y
Ohije Oil .. . 370 376 370 2315
Prairie Oil ... 730 750 710 760
Bub, Beat . . 16 17 18 ® 17
8 O N X 4+ 24 378 374 @378
gO.N 1L . 108 713 708 _3743
8. O Oalr. , 172 276 472 e
8. O. Indiana... 770 @790 770 @790
Union Tank . 133 @136 133 @136
Vietoria Oil . . 2Y@ 2% ty@ 2%
Wright Martin.. 6% @ 6% L 5%
Cons, Arizona 1 3-16@2 1 316@ l’a’
Nipissing . . , 11%@ 11% 11% 11
B. & Wyo. Oil . 62 65 62 65
Glen Rock Ol ,6% 6% 6% 65
1. Ol Trams. . . ™% A TH® 1%
Northwest Oil . 63 68 63 @ 68
1. 8 Steamship 3 @ 34 3 3%
Sapulpa .... 8 g K 1 8 5%
Boons . - - . 100 3l 10u® 28
NEW YORK BANK STATEMENT
NEW YORK, June 14—The weekly
bank statement follows: '
Average Statement .
Loans increased $60,363 000; demand de
posits decreased $17,§88,000. 'Time depos
its increased $591,000; reserve decreased
$14.631,220.
Actual Statement
Loans inoreased $21,067,000; demand
deposits increased $43,034,000,
,rlnw deposits increased $2,917,000; re
serve decreased $38,111,210.
GASTON, WILLIAMS & WIGMORE
Gaston, Williams & Wigmnra reports
for the year ended April 30, 1919, a net
income aftor taxes and charges of §1,.-
zuz,wz e(})uul to $4.20 a share earned on
the .06,00 ghares of eapital stock of no
;ur value. Net income for the rrcvloun
welve mogths amounted to $1,208, 487, or
$4.32 a share earned on the capital shares.
OHIO CITIES GAS ASSETS,
BOSTON, June 14.--Assets behind Ohio
Cities Gas Company’'s common stock are
valued nt $92 a share in private report gul!
made for a group of bankers intere in
the company
CHILE COPPER EARNED §1.51.
Chile Copper Company, according to the
annual report for 1918, just lssusd, earned
a surplus of $5.754,262, equal to $1.61 a
share (par $256), compared with $5,440,613
or $1.43 a share in 1917,
New Companies To Be Launched Require Op
timism, Declares Broadan Wall—lndications
Point to Upward Movement in Steel Shares.
8y BROADAN WALL.
EW YORK, June 14 —~Two ques-
N tions above all others are be
ing asked in the financial dis
trict just now with increasing in
gistency. The old-time bankers and
professional operators are asking
whether the rise in securities is not
about over and are warning the pub
lic against further purchases. The new
leaders in banking and business and
the general public are asking what
stocks to buy and wonder why any
body should think of selling.
Each of these exireme parties has
strong, circumstantial evidence in
favor of its point of view, but the
‘weight of evidence seems to favor the
public. That there will be a wild
panic some of these days goes without
saying. But panics are merely evi
‘dence of life, China has no financial
paniecs. Panics are Lo American busi
ness life what cramps are to the small
boy who raids the orchard of green
‘apples—merely proof of too much en»
thusiasm. They hurt, but they teach.
Our greatest accomplishmenis have
been born of panics.
When the war panic will arrive is
a matter of guessing at the moment.
Some think it is near, but ecareful
study of the history ceems to Justify
a belief that it is two years in the
future. The big crops this year in
sure the country against panic. There
may be flare-backs, but nothing per
manent seems possible just now.
The panic, when it comes, will be
merely a writing-off of the war losses
o fthe orwld. All the nations aré
pretending at the moment that they
can be paid. They can't be and they
‘won't.
| If one considers only the 50 or so
'stocks that have advanced most
sharply, it would seem that the end
must be near. But the great bulk of
securities has remained quiet. Spe
‘clal, and in most cases, sufficient rea
sons can be given for the movements
that have taken place. The supply
of money for trading is abundant and
bank loans have not approached the
danger lavel. Loans are at the bil
lion-dollar mark, but they were there
before the new .banking wnm was
devised and before there any in
flation. Tt would taKe twp billions
of loans to cause trouble uq)or pres
ent conditions. »
A MONEY TEST.
“The New York bankers made a test
8f their own strength recently when
they marked money to 11 per cent.
They started a flood of money to New
York from all over the world. Eng
land has already landed $18,000,000
gold here as a result. The feature of
the bank clearances the last few days
has been the great number of out-of
town checks. The local bankers may
try again, but they have lost thepow.
"111.0 make the stock market do their
w
Furthermore, the bankers are not
unanimous in wanting the market
restrained. Many of them believe the
best interests of the country demand
a perfectly free expression of specu
lative sentiment by the people. They
believe the people should be permit
ted to express in stock market quota
tions the opinions of prices that they
deemed it unwise to express during
the war. The public is trying to ap
praise permanent raoe for the first
time in history. It will be an ap
praisal as sensational as the war was.
Action and reaction must balance. To
restrain the market now would be to
interrupt the swing of returning pros
perity,
Of course, there may come a bad
break in prices any day-—a break that
nobody can foresee. There have been
two recently and the market has re
covered because the basic reasons for
the advance are more powerful than
any temporary reason for reaction.
It i& the tide that is rising. The
surface waves are only of secondary
importance—of no importance at all
except to the small eraft. Brokers are
doing all they can to save the little
people by advising caution,
NEW COMPANIES COMING. -
Besides, many of the bankers are
interested in new companies about to
be floated. Several combinations of
great importance are about ready for
announcement. A broad, strong mar
ket is wanted for the reception of
these.
Resignation of President F. A. Van.
derlip from the National City Bank
probably marked the finish of the
struggle between the old conserva
tives, of which he was a leader, and
the new aggressive men, of whom his
successor, James A, Stiliman, is a
leader.
If ever there was a situation in
America demanding aggressive action
on the part of bankers and business
men it is now., Great speculative en
thusiasin is desired and the new lead
ers may be depended on to interpose
no stumbling blocks. The people are
in the saddle and the wise bankers
will try to do no more than suggest
and turn that speculative sentiment
jn certain directions. It would be
fatal to attempt to kill it. That would
cause an industrial panie of profound
roportions. The present plan is to
glvert speeulation gradually from the
stock market into commercial - and in
dustrial lines. To do that the market
must have free swing.
Reawakening of the steel industry
has been the great development of
the past week. The head of the n‘-
road administration lacked imagina
tion and leadership. He bhad his
chance (o be a great man, but scom‘d
it, and the opportunity was seized by
the head of the nuwmobg: industey,
The importance of what Mr, Durant,
of General Motors, did when he or
dered 345,000 tons of steel at current
prices is net fully realized by the
public. His ae¢t will stand out in
after years as a turning rolnt from
which great movements will be dated.
Swift reward has already come to the
motor industry and through it to olis
and steels, -
STEELS HMAVEN'T JUMPED.
| It may be that the motors have
advanced enough, but the steels have
hardly moved. There is hardly a steel
stock that is not selling for less than
its book value. All indications point
to a brom;“?uket for such shares in
the near ure, The volume of or
ders booked is not if importance. The
demand exists in excess of the ability
only a question of getting thohfubllo
started to buy. The General Motars
order has broken the deadlock. The
vast crops furnish the means of buy
ing and emphasize the necessity.
In spite of the warnings of persons
of the steel companies to fill it. It is
who have not studied the oil situa
tion, those stocks are still on the up
ward swing. There are a few swin
dles in oil, but the industry as a whole
is sound and is not being exploited in
the stock market unreasonably. The
discoveries in Texas are rich beyond
present appraisal. They are already
proved to be the most important out.
side of Mexico. With a stable govern
ment established in Mexiso, such as
there are assurances will be estab
lished before many maonths, the world
will have a demonstration of the
value of oil securities that will ll#»
present values look ridiculous. e
general public has obstinately re
fused io believe.the truth about the
olls. a
e ————————————————————
.
wrsemy DESKS
et Tubles, Chairs,
bl s J
e e ornes "aares
Lowest m
HORNE DESK AND FIXTURE OO\
93 N. Pryor 84, Phene Ivy 1158,
11A