Newspaper Page Text
Cotton Breaks Then Rallies on Covering of Shorts Over Holiday Thursday—Securities Drop Following Early Substantial Gains
¥’ ’
Atlanta bank clearings Wednesday ... ... ... ..$11,515,618.02
Sgme ST IR YRR C.. eR s 9,156,945.05‘1i
ERIIONID - i sey oo evienes aiviaes oo SRBURIIS |
: Bante day last weelt ... i ... il els . oo 11,880,807.78 1
“ Same day last year .... Seagregteae e sne men 8,566,670.90
: L i |
Atlanta cotton statement Wednesday:
1920. Last Week. 1919. 1918.
BeosDte .7 o ca 3 SN 1,156 e 3,606
Shipments ... «.. ... ..~ 3000 3 1,012 » 2,418
Stocks .- Jioo. ~ L L L EREEE SANEL *. 49,017
¢ = =
Atlanta spot cotton Wednesday....." ... ... ... ...... 3880 c
SR DN I WA L e e e e e R
T ReR e R s R e
B N TR i sanneniie ks Sen vs s U
. $ ¥
*Holiday. , '
EXCHANGES CLOSED THURSDAY.
, All leading American exchanges, witfh the exception of the New
Orleans Cotton Exchange, will be closed Thursday in observance of
Lincoln’s birthday. Foreign markets will remain open. /
By VICTOR BARRON.
A better tone in foreign exchange, exhibition of rallying power in the
stock market, strong cables, easier call money rates, while being offset to
some extent by the labor railway situation, gave the cotton market a stead -
B T . ier undertone at the opening Wednesday. Prospects of
2 *"»img, early ratification of the peace treaty also was a helpful
<.~.'«.,j1.' fi( factor. First prices were 5 points lower to- 10 points
R higher. A small rally after the call was followed by a
“';; fresh selling movement, causing values at New York to
;?)‘;5%5;‘0 break 27 to 48 points, with March falling to 34.43, May
i s WB2 cents, July 29.99 and October 28.02. New Orleans was
_ .% a good seller Spot houses also sold. During the late
i,*) #7°B forenoon demand broadened, chiefly covering of shorts
E‘\SVfi;/ over Thursday’s holiday and expectations that a com
i‘s'% promise will be reached next week on the treaty. Under
gm this demand the market regained practically the entire
w.m decline, with March rising to 34.72, May 32.20, July 30.14
a 8 4 | and October 28.29.
g o Bears are trying to capitdlize the threatened strike
'\“A 2 of railroad employees, but in the event the strike mate
o R rializes it would be a bullish item in that it would check
LR movement of cotton to the mills and ports and inter-
T & - rupt movement of fertilizer. Continued unfavora
oo " hla weather also is working against the bearish
element, and with the technical position of the market
so extremely strong, the market is in a good position to respond considera
bly -to any favorable news with regard to the treaty and money situation.
Tt is believed in some quarters that the course of the stock market will
govern the cotton market. If so, then the tendency appears to be upward,
as the security market seems to be getting in shape for the predicted spring
bull campaign, which is scheduled to develop the latter part of this month.
However, some are inclined to believe the upward movement will not take
place until about the middle of next month. - :
o S TP SRR Te S SRNE e t
The market developed considerable
strength during the late trading,
chiefly as the result of short cover
ing, easier money and continued
stubbornness on the part of Southern
spot holders. All positions rallied to
new highs for the day, with March
at New York rising to 34.85 and May
to 32.46, or more than $2 a bale from
the low levels. !
Final prices at New York were 2 to
3 points higher on near months and
7 to 22 points lower on distant
options. »
There is a better feeling with re
outgo Tuesday totaled 28,229 bales,
bringing the total number of bales
gard to the export situation. The
exported so far for the week up to
94,556 bales. Since August 1, last,
exvorts amount to 4,057,083 bales.
The census report on supply and
distribution of cotton during Jan
nory is expected to be issued Satur
dav. The report will make bullish
reading in the opinion of the ma
jor'ty, especially as to domestic con
sumption and. exports during that
period. Acgive spindles are expected
to sho wa new record.
The bugaboo about re-shipments
of eotton to this country is on the
wane, i
How absurd is the report that- Eng
lish buyers would reship cotton is
showxh by the report issued by the
Bureall of Markets at Washington,
§fter receiving private communica
tion from abroad, showing that spin
ning mills at Manchester and Liv
erpoo!, England, are making profits
ranging up to 300 per cent on capital
stock through manufacture of raw
cotton imported from the United
States.
Officials at Washington say that
this shows there is little likelihood
that English manufacturers will
maintain for any length of time an
#mbargo against importation of
American cotton. |
It is said that the mills need a sur
plus of raw cotton of at least 370,-
000 bales. When their reserve stock
goes below that amount the mills
face a shut down. |
English mills, according to offi
cials at Washington, are tonsuming
American cotton at a rate of ap
proximately 60,000 bales weekly. |
The Wall Street Journal has the
foHowing to say with regard to mills
enormous profits made on cotton:
Mill profits are so great substamtial re-
Auections can he made to wholesalers with
out a legitimate prétext for demanding
in turn, lower spot. The latter is in a
position to withstand such attempts hav
ing passed from growers ino strong hands.
With goods sejling at $1.25 a pound
apninst 39 and 40 cents for the raw prod
uet, representing a profit for manufactur
ers of over S3OO a bale, there ghould be
no ~vection as to who should bear the
b ¢ lower prices when the inevit
ah kening in retail demand at pres-
-
: Rheumatism
is completely washed cut of the sys
tem by the celebrated Shivar Mineral
Water. Positively guaranteed by
money-back offer. Tastes fine: costs
a trifle. Delivered anywhere by our
Atlanta Agents. Coursey & Munn
Drrg Store, Walton and Broad Sts.
~~Advertisement. .
Close Your Real Estate
¥ .
~ Deals Quickly
We have complete records to every piece of Real Estate in
Fulton County, and are prepared to expedite the closing of sales
or loans.
Banks and Insurance Companies prefer Title Insurance, be.
cause it is safer.
4
Atlanta Titie Guarantee Company
15 E. ALABAMA STREET. . ATLANTA, GA.
THE GEORGIAN'S AND FINANCIAL NEWS
Prices of Liberty
} Bonds Carried by
' National Banks
WASHINGTON, Feb. 10.—The comp
troller of the currency has given instruc
tions to bank examiners that they need
not, for the present, require national
banks to mark down the prices at which
they are carrying United States Liberty
bonds and victory notes below the bona
fide purchase price, paid for these securi
ties by national banks, Banks will not,
however, be permitted to carry these bonds
on their beks at prices above market quo
tations where the bonds cost the banks
only the market price or less.
There is, says the comptroller, no cause
for anxiety because of the recent decline
in the market value of Liberty bonds, and
the fall in price, he says, is no reflection
upon their intrinsic value and desirability,
but the lower quotations offer investors
an extraordinary opportunity to obtain at
very attractive figures the best securiy
in the world. He adds:
“TPhe people of this country need have
no doubt of the abilty of this nation
now and always to meet in full every obli
gation and commitment, and it is the opin
fon of well informed students of the sit
uation that it should nat be a 2 long while
before Liberty bonds and vietory notes will
command, not only their par value, but
probably a considerable premium.
“United States Liberty bonds have al
ready been very widely distributed to in
vestors and digested. «On November 17,
1919, the amount of Liberty bonds owned
by all national banks afiounted to only
8520,000,000. which was less than 4 per
cent of ‘the total reseurces of the national
banks at that time.
“The income of the neople of the United
States in excess of ordinary living ex
penses,” continues the comptroller, “proba
bly amounts at this time to more than
ten billion dollars per annum and dess
than one-tenth of this estimated surplus
investable income, would be sufficient to
absorb in twelve months all investments
still held by national banks in Liberty
bonds.””
ént figures comes. Mills are undoubtedly
within their rights in selling at prices
determined by the universal clamor for
their produet, but with planters’ organi
zations growing daily in strength cotton
men believe the day has passed when pub
lie refusal of high costs can be passed
along to the ruination of the grower.
‘The world's need of cotton products is
as great today as it was two monyu ago.
If exports had proceeded this year on the
game scale as last it Is improbable that
anything alarming would have been found
in the situation. A temporary cessation
of demand following an extraordinarily
heavy one will sti]l leave a high aver
age for the geason’s shipments. The most
modest of demands for the next six months
would bring about the expected reduc
tion in the carry-over and maintain the
present price level,
“The grower is also to be reckoned with
If it were probable Buropean sghipments
were to be indefinitely cut off, the im
mediate result would be a switch to other
erops, for it must be remembered that
the new ecrop is not ret in the ground.
. P Flaherty is In receipt of a cable
from Liverpool branding rumors on re
shipment of cotton to America as all
imagination and nonsensical in view of
the present status of Britain's textile
trade. Lancashire mills were reported to
be expecting even greater xroflu this
year than last, when'a dividend of 21%
per cent was paid as compared with the
regular 5 per cent the year before,
“With product sold for six monthe
ahead, it was held as perfectly logieal for
spiners to wigsh to see their supply of raw
material safely stored in warehouses in
England hefore the predieted short crop
of 1920 should have it® effect on prices,
Talk of mill shut down and cheap cots
ton wag characterized as ridiculous.™
' ]
- |
" \
| |
:
——i— & |
NEW YORK, Feb. 11.—Wall Street‘
was a seller at the opening of t.hel
cotton market today, but because of
¥ N\
Steady cables and foreing exchange,
first prices were 5 point; lower to
-0 points higher. A reaction of 2 to
15 points from the previous close
soon followed, and the list became
unsettled and weak, with business
partly of an evening-up nature for
the holiday. The trade was a mod
erate purchaser after the start. .Un
easiness over the railroad labor sit
uation seemed to be overshadowing
prospects for early action on the
beace freaty, and there was evi
dently bearish sentiment around the
ring.
The markét, after easing &r to new
lows for the day, developed st.renth|
during the late forenoon. on oover-‘
ing of short commitments over the}
holiday and lighter offerings. March
rallied from a low 0f’'34.42 to 34.72,
and May from 32 cents to 33.20. |
Covering of ghorts over the holiday
and trade buying, despite the heavy
fall in stocks, carried the list to new
high levels for the day during the
afternoon, March rising to 34.85 and
May to 32.46. |
At the close the sargket was
steady, 3 points higher to 22 points
lower.
Spot cotton was officially quoted
unchanged at 37 3-4.
NEW__!_{Ql_{_!(_QQTTON.___
Y el | | [ Prev.
____lOpeniHigh|Low| Sale | Close | Close
Mar, |34.80/34.85/34,43]34.72]34.72 134.70-73
Mav 132,40x32.46!31.98,32.33!32.33-35 32.30-35
Jul{v 30.40/30.44|29.98)30.28/30.28-30{30,35-42
Oct. |28.45/28.55/28.02{28,2|28,28-30/28.50-55
Deat !28.00*28.00!28.68]27.70 von iea o ISO, 40
Jan. [27.40{27.40/27,3127.85]........]27.75
Closed steady.
NEW_ORLEANS COTTON.
! I ’ jLast | Prev.
. AOpeniHighiLow] Bale| Claks | Olase
Mar. |35.51|35.69)35.31)35.65|30.62-65|35.53-64
May . . .133.10]23.20/32.80{33.18/33.05-10
July [31.12]21.22]30.84/31.15/31.13-15/31.10-13
Oct. [28.55 28.59’28.19 28,47|28.46-48/28.15
Deg. Joovifiioiideosia)s v} 208789 27.!3
AR b can dy v ks ln iGI e 27.4
Closed steady.
AMERICAN EXCHANGE.
Following were the ruling prices on the
American Cotton and Graing Exchange,
Inc., Wednesday:
| | { | | |Prev.
___ ' lopenmignlLowicloselCloss
‘Mar. . o, .....‘34.8?{34‘85 34.40’34472 34,75
May ~ . o o's +132.3432.40{32.00/32.31{32.28
July . eoe .o 30.38/30.42/30.01/30.27/30.36
[ OCt. . 4 oy e .28.46'28.60}28.10‘28.28!28.55|
DO e .28.02]2!.06 27.65 27.75|287.Q‘
- LIVERPOOL COTTON. |
LIVERPOQL, Feb, 11.—8 pots opened in
fair demand. Prices steady. Sales 8,000
bales.
American middling fair, 33.79; good
middling, 30.79; full middling, 29.79; mid
dling, 28.54; low, 25.54; good ordinary,
22.54; ordinary, 21.54.
Futures opened steady, |
! |Prev.
______-_____]_Q;_;gn Close|Close
FODPUATY cceevsscvenccss ...,.y27.00i26.65‘
MATCH ..cecsevncecnsses.|26.3sß/26.67]26.40
‘Aprfl .A...lzs.oslzs.fio:
MAY +.cceosvoscceccass..|2B.3o/25{44/25.38
JUN® s.ccecvsovcsssorsaslioes. n.ulu.sx
JULY s casssccsnsesansesval24.2l]24.22]24.26
ABEUILE 15, 5o oi B ons oo |9B TH zs.ss]zs.n‘
Septémber «....eceoveooeelov...l32.B3/23.06
OOLODIY. 4 isvscobiogesasss |32 3%20.183128.35
November ....c.cooeevessfs.cs.{2F.7l{2l.9s
December .........e0....{21.47|21,28{21,56
JONUREY - ...cc0ve00n50.,.181.18121.03181.2¢
Closed quiet. |
SPOT COTTON. |
Atlanta Commercial Exchange quotes
basis good middling q!l!!mc
New: York midaUßE :..lcviessries 85780
New Orleans middling (sales 505) ..38.50¢
Liverpool good middling ..........30.79d
Savannah middling ..,......e000...39.50c
Augusta middling .....ec000004000..37.75C
Houston middling ......eee5e0000..39.25¢
Norfolk middling .....gesesooooo...3B.ooc
Philadelphia middling ............38.00¢
Boston middling ......ecv00000.4..38.00C
Charleston middling .....c.c0000...39.36¢
Wilmington middling .....v0.00....37.25c
Memphis middling .....cevevvnses..39.ooc
St. Louis middling .....cccssses...39.ooc
Mobile middling ........eqe0000...38.00c
Montgomery middling .........5...37.76C ‘
Little Rock middling .......c0000..39.00c
Galveston middling ......ceensees.4o.ooc i
Dallas middling 40300‘
—.___©OTTON SEED OTL. ____ =~
',9}‘3“‘"‘-4,‘, _Closing.
Fob. . « o « « » +]19.60@20.40/19.50 @ 20.60
Mar. . « « « o - -/20.20@20.40{20.50 @ 20.58
APrl s eiiei e ,120.20@20.50(20.40 @ 20.55
MEY o « o o & o .’20,26020,29!.....,.....
June « o o o - «120.26@20.501...00.00000
JUly o « o o s o :120.50@20.68]......5...
AUGUSt « o o o o +[20.50@20.75),. .. ...
WO i v .1....1......fz“0._500;gp._gq
Closed steady. i
ATLANTA COTTON SEED PRODUCTS,
Deseription— Price |
Crude oil, basis prime............ 518.00
Cotton seed meal cakes......(not quoted)
Cotton seed meal, 7 P. C..covveaes 69.00
Georgia, common rate points,..... 68.00
Cotton seed hulls, 5acked.......... 16.00
Cotton seed hulls, loose.....coveves 12.00{
Linters, NoO. 1.....ccc0000v00000000 .0?]
Tanters, No. B..eieesesvcersssense 08
i
COTTON MARKET OPINIONS. '
Moss & Ferguson: ‘‘The market is sold
out and purchases on recessions still ap
pear advisable.” 2 e
E. W. Wagner & Co.: “The trade Is
awalting some new definite factor to give
tendency to prices and that is likely to
come from pitching or.the new crop.”
. .
S, M. Wald & Ce.: “We advise pur
chases on weak muztet:."
-
Bond, McEnany & Ceo.: ‘The cotton
market shows resistance to selling pres
sure and with Liverpool cabling that
Manchester is taking on renewed actlvity
| we should net be surprised to see a sharp
advance at any time.” {
Ao
MONEY AND EXCHANGE. 1
NEW YORK, Feb, 11.—Call money on
the floor of the New York Stock Exchange
today ruled at 6 per cent; high, 8 per cent;
low, 6 per cent. ‘
Time money WAaAS scarce.
Rates were: Sixty days, $% per cent;
ninety ‘davs, 9% per cent; four months,
9% per eccnt; five months, 9% per cent;
gix months, 9% per cent.
The market for prime mercantile paper
was strong.
Sterling exchange was steady, with busi
ness in bankers’' bills at 3.37% for demand,
U. 8. INDUSTRIAL ALCOMOL,
U. 8. Industrial Alcohol Co. directors
will meet February 19 to act on the
common dividend. The regular 2 per cent
quarterly dividend is expected.
Annual report for 1919 will not be pub
lished for several months. It will show |
company ir best financial position in ite
history and with working capital mueh'
improved over recent years. ‘
Altbough part of 1919 business was con-
Aucted on a readjustment bhasis, earnings |
wers h'ghiy satisfactory. Demand for com. |
mereint nicohol wag large and demand fori
alcogas, & new patented motor power fuel |
developed last year, exceeds pr(ulm‘?iun.(
| One of the largest customers for this mv-,
ter product Is the U, B. postoffice depart
lment‘. which, after extended experiments,
found it more potent for the use of alr
Lmall planes than gusoline, and also eco
inbmlul.
l I ENTERPRISES DURING JAN. I
A record number of new enterprises were organized under the laws of
the principal States in January, invelving the tremendous sum of $2,280,~
460,600; according-to the Journal of Commerce. The previous high record
in point of numbers was in October last, when 1,067 companies took out
charters, vgith an authorized capital of $2,368,635,200. In January, 1919, the
grand total was $492,079,400, and in 1918, $287,641,000, so that the past month's
figures show increases of 365 per cent and 693 per cent, respectively, over
the periods mentioned. All lines of business or industry are covered by the
returns, although it is to be said that they indicate a growing tendency on
the part of many old-established firms to organize companies with a greatly
enlarged capitalization to_meet their expanding business. A number of im
portant consolidations appear @#mong the incorporations in the different
States, while promoters continue active in the matter of forming new oil
and gas and shipping cnocerns.
The following are the comparative figures, compiled by the Journal of
Commerce, of companies incorporated in the principal States during the
last three years with an authorized capital of SIOO,OOO or more:
| 1920. 1919, 1918.
JRODAPY: doegdiconngresnees $2,280,480,600 $ 492,079,400 $ 287,641,000
EROIURLY . L diiiss csbnirsnane. ot dbsadsndene 323,635,000 182,183,000
iMurch 370,871,000 197,071,000
ADPL ..eviiiiiiiiiiiiiies cenenaiiiaaas 515,665,300 255,701,000
BT il di s i veyTna et v Aki 748,683,600 309,322,500
'Juno PPR G NR R SRR 1,255,427,500 227,243,000
L R R TR XiPR AT R 1,419,639,700 185,726,600
lAugust 822,746,000 144,786,000
entember Lol e i e 1,946,954,500 214,820,600
loctober 2,363,635,200 134,224,000
BNONBDIBEY : L ioiveavyonssbsn wwbedosssmae 1,341,447,600 131,080,000
DIOCOIDOL 40l iy ivs osman’ s Eiks et ebh 1,077,545,000 129,951,000
’ BUBRE bit osrianens - shnminiewts o $12,678,229,600 $2,399,749,600
l‘New York Stock Market l
Market closed weak. :
Stock sales, 1,346,000 shares.
Bond sales, $14,152,000.
1 | | Last [Prev.
|High| Low | Sale [Close
Allis-Chalmers ~ . .| 40%]| 39 39%)| 41%
Amarican ine .. i, el i vrasd 10
Amer. Ship & Com. | 18%]| 18 1815| 193
Amer. Agvicultural 1. il iiilaan ] 86
Amer. Beet Sugar .| T9%| 787%/| 79 79
American Can ~ , .| 44 42 42 45%
Amer. Car Fdry. . .{l2B (124 '[125%&|128
Amer.fouon O ot diss il il 2038
Amer, Loco. ... .| 88 85% | 853 ) 881
Amer. Smelting . ..] 5953] 58| 58%4] 59%
Amer. Steel Fdries. | 403 401, 40% /| 40
Amer, Sugar Ref. , 1124 [123%;(124 [124
Amer. Tel. & Tel. .| 97%] 96%| 963 | 97%
Amer, Woolen . . .|126%[121 (12135]122
Aoy, Tinseead ¢ o i lesniiteons 7%
Amer Snuff . , , .| 92%) 92% 92%] ....
Atlantic G. & W. I. [144% 14114 /14155|144%,
Amer. H, & L. . « 8 19341 21 21%
do. pfd. . . ~ .]lO6 |104% {lO6 |106%
Agner. Tobacco . . .{237 |237 237 |237
Anfer, Sum. Tob. . .| 83%/| 80%| 807 84
Amer. Tob. Secur. .| 655%|. 568 565]. ...«
American Ice . . .| 38%]| 39| 393 39
Amer, Writ. Paper J. .oV, Panéi] 48
Amer. Int. Corp. . .| 91 88%| 883%/| %0
Alloy 'Steel . .. .| 41 41 41 43&
Alaska Gold . . . J..eoi]ecasifesiad] 1
Anaconda . , . ..| 56 551! 56 55
Atchligon . . . . .~.] 18 T6%| 17 79
Atlantic Coast Line.| 853 | 8514| 8514) 86
Baldwin Loco, . . .[109% 1067 (1073 {10714
Balti. & Ohio- . , .| 29%| 28%{ 2814| 2935
Booth Fisheries . .| 10%]| 1014| 1035 10%
Beth.:Steel “B” ~ .| 88 85| ‘867%| 87%
Brook. Rap. Transit| 103%| 103 103%| 11
Butte Superior . . .| 23%| 2314 23%| 23
Butte Copper & Zinc|.....|.....]c55.. 8
Cal. Pete. . . . . .| 29%]| 29%/| 298] 31
CRI, PaoKINE . . o claivvle cmiilernsest T 8
Canadian Paeitic © [1193 [1153{115%4]118%
Chesa. & Ohio . . .| 4953] 484 49 4914
Chicago & N, W. ..| 78 78 78 79
Col. Fuel & Iron . .| 37 36 3684| 37
Chi.,, Mil, & St. P. .| 32%] 30%| 30%| 32%
AeR. L . b hil M
Chino Copper . . .| 34%| 33%]| 337%| 34%
Consolidated Gas . .| 78 6% T6%| 75
Corn Products . . | 79%| 77%]/| 77%| 78
Coca-Cola . . . ~ .| 37%/| 37%| 37%| 37%
Crucible Steel . . .[214 [207 "|2OB |[2o9
Col. Graf. . . . . .| 39%]| 39%] 385 3814
Cubah Am. Buge® . 1.....}5 0. 2400
Cuban Cane Sugar .| 43 427 |43 4215
de. pfa. . .- LTv%E Te%] T9%].....
Central Leather ..| 76%| 73 73 76:2
Chile Copper . . . .| 16141 15%1! 15%]| 16
Chandler Motor . .[1281;[124 |124 (128
Columbia OGS . . ilivss ot ifcacs ]93
COorreslsrPßlOß « iil vuoidiss s 4P
Dela, & Hudson . .§ 90% | 80%/| 901%| 90
Brie . v . o o 6 o 4 BN 2311051 12 %
48 Bl 88 . sl el 18
Endicott-John. . . .|123%%]120 [121%[12314
Fisk Rubber . .‘. .| 35 34 34 3614
Gen, Cigar Stores . 68%’ 58%| 5814| 60
Gen. Electric . . .|164 [153 [154 [15314
Gen, Motors . . . .[25014]235 |238 |[246%%
Coodrich Ruhbber .| 6914] 6814] 6855 6874
Gt Nor. 98d. ', il 2l ik ki 1N
Grt. Nor. Ore . . .| 35%| 35 | 35%]| 35%
Gulf States Steel .| 63 61 61 62%
Cagt: W, & W, . Mivalhiair g 18
Greene-Cananea . .| ....|] ....} ....] 33
Tllinois Central . .| 8214| 82 82 8214
Insp. Copper . . . .| 51%| 51 51 51
Ind, Alcohol , . . .| 88 83 83 88
Int. Nickel . , . .| 20%[ 204} 20%| 2014
Int. Harvester . .| ....1 ..:.] ..+ [|ll6
Int. Paper . & . .| 76%| T3%] 7T4%| 74%
Keystone Tire . .| 26% ] 257%] 26 27%
Kelly-Spr. Tire . ’ Sbss ek sas N
Rans. Clty BoW. ¢l vvei} void vianl i 4
Kaensas & Texa:/,1..... e Re )
WASHINGTON, Feb. 11.—The weather
will be generally fair tonight and Thurs
day in the South Atlantic and East Gulf
States, with unimportant temperature
changes, 7
Foreeast by States:
Georgia—Cloudy and somewhat colder
tonight, preceded by rain on the coast;
Thursday, fair,
North Carolina—Partly cloudy tonight
and Thursday; somewhat colder tonight in
east and central portions.
South Caroiina~—Cloudy and somewhat
colder tonight, preceded by rain on the
coast; Thursday, fair.
Florida-—Generally fair tonight anda
Thursday; colder tonight in extreme north
portion,
Extreme Northwest Morida—Partly
cl'oudy tonight and Thursday; colder to
night.
Alnbam‘—flloudy tonight and Thursday;
c‘nlder tonight in extreme southern por
tion,
Ml-mulppfi\lr tonight; colder in ex
treme south portion; Thursday, partly
cloudy.
Tennessee—Fair tonight; Thursday,
cloudy; probably rain in southwest por
tion.
Louigiana—Fair tonight and Thursday;
light variable winds on the coast, mostly
northerly.
.
$304,877,000 Subscribed
- -
For Treasury Certificates
WASHINGTON, Feb, 11{—8ecretary
Houston announces that the total amount
of subseriptions for treasury ceftificates
of indebtedness of series TM-4, 1920, dated
Ffil‘:ruary 2, 1920, maturing March 15, 1920,
w $204,877,000, The certificates of this
series bear interest at the rate of 4% per
cent, and the subscriptions closed on Feb
ruary 6, 1920,
The subscriptions were divided among
the several Federal Reserve Districts as
follows:
- Subseriptions
District— Allotted
BoOMON . ...cooessooosoooooso4.B 17,606,600
NOW YOPK ..coeossessbonvscsse 191,782,800
Philadelphia ...cc0060000000.. 10,418,000
Cleveland .......ieroooooooooo £8,043,600
Richmond .......ooooeoooo4iso 7,093,500
AUBRER sovevsvsovrnnpasinnnes 9,270,090
OBIOREN “isvovsisssseddssnsvois “DRLIV 0N
Bt LOUIB L. scciierrssoncrsanes 9,481,000
Minneapoffs ... . ...ii..ii... 8,969,500
Kansas City ...ccoccvveeesess 18,000,000
DAAS . ......ioooooooooooooee 14,868,500
San Francisco ....cevveeeveess 25,260,000
BPOTAL o 0 s 00055i555304,877,000
‘ FINANCIAL NEWS,
Export trade of Great Britain in Janu
ary totaled 105,879,000 pounds, an increase
of 68,000,000 pounds over January, 1918,
and o new high record.
l E ’ Last ‘Prov.
STOCKS— High| Low | Sale [Close
Kennecott . . . .| 28 273 27%/| 28
Lackawanna Steel .| 727@3] 70 Tl%| 73
Lehigh Valley . .| 40%| 40%| 407%| 41
Loft. Candy . . . .| 18%/| 19%| 19%| 18%
100 TIPS v 5 4 il i) SOt soo NN
BN O s vl ved aIARE
Maxwell Motors ..| 26 24341 24% *5%
Mo, Pac. (new) . .| 23%} 21 21%4( 23
Mex. Petroleum . .[16674[161 |162%,]165
Marine . .. . . | 297| 28%/| 28%( 28%
do pfd. . . . .| 79%]| 78 7814| 8014
Mid. States Oil . .| 31%| 29 31%| 28%
Miami Copper ..« Jf ...} cooof -5--| 21%
Midvale Steei . . .| 44%] 44 44 447
National Enamel .| ....| ....| ....] 70
N. Y. €Central ~.| 66 85 65;2 66134
N. Y, N. H, & H. .| 24%/{ 23%| 23 255,
National sand . )ooiod ceo ) vavslTß%
Norf. & Western . .| 80%/| 90%| 90%| 9034
Nor. Pacmk;c. L Wiy 6815 69%]| 6914
Nev. Con. Copper | ....| ....{ ....{ 143%
N. Y. Airbrake . .| 98%| 95 |95 9914
Okla. Pro. & Ry. ..| 7T%| 7%| 7%| 8
Ohio Cities Gas . .| 42%/| 411 41%/| 43
Pennsylvania . . .| 405¢| 4015| 404 | 40%
Plerce-Arrow . . .| 65 5185| 51%| 5535
Punta A. Sugar . .| 78%| 78% | 788 80
Pressed Steel Car .| 89 8614 8614 89
Pittsburg Coal . . .| 54 54 54
Pullman Co. . . .|llo%{llo%|llo%] ....
Pan-Am. Pete. . . .| T6%| 72%| 72%| T 4%
Pord Marauetts . | ...if Jooi] coeg] 38
IR AN ' o sl e vessd cdad] AT
Ray Consolidated .| ....| ....] ....] 19%
Reading . . . g . 6* 643%| 65141 6635
Repub. Iron & Steel |lO 100 [101134}1021%
Rock Island . . . .| 24%]| 24 247 24
do pfd, “A” . .| 65%| 65%| 65%| 66
Rwy. Steel Spgs. . .| 90 89| 90 90
Royal Duteh (new) | 963 (- 941%| 9614 | 944
Sears-Roebuek . .} ....} ....] ....]2lO
Sloss-Sheffield . .| 68 67 67 69
Stromberg Carbey. .| 633| 6334| 63%| 66
Sou. Pacific ~,. .| 90 8855 8’;& 901%
Sou. Railway . . .| 18 18 18 19
do pfd. . . . .[ 52 ['so%| 50%][ 53
Studebaker . . . .| 88 8316| 831%| 86%
Bt. L. & San F. . .| 16%| 1567%/| 16| 16
Binclair Oil . . . .| 36%/| 35%%| 36%]| 356%
Stutz Motor . . . .|llO [10534}106%{113
Bl Eh ol evt aabisar ik skl Rl
Swift & Co, . . . .[119% (119611108} ....
Saxon Motor . . .| 163 143%| 14%]| 15%
Tob. Products .. .| 69% /[ 68 68 Tl 3
Tenn. Copper . . .| 9% O%| 9%| 9%
Trans, Cont. Oil . .| 21 203 203! 21%
Texas Oil . . . . .[l7O [16774|16734{168
Texas Pacific . . .| 28 27 27%| 28
United Fruit . . .|179 [176 [178%%[178
Wolon Paßolfion . Risa sl said v ciliie
Union Oil . . . . .| 283 273| 2814} 28%
Unit. Food Prod. .| 57 563 | 56%| 65114
U. 8. Rubber . . .| 995%] 95 95%| 98%
R Ry £O, . oo it seald ol B
B Eaes e 9634 | 96%]| 97%
Aol . v Jia il v R
Unit. Retail Stores |7l 69%| 697% 71&
Utah Copper . ..| 70%| 70 0% 03
Va.-Car. Chem. . .| 61 603%| 60%] 6
Wabash ; & ... .. TH! 7% 1% 1%
! 80988, UA® . Livi] il viab 218
Westers Uplon' & ) . iaf iosl viiof 84
IWlllys-Overland .| 25%]) 24%)] 24%] 26%
Woolworth' . . . J 4.5 000 0200
| Westinghouse . | 50%| 49%] 503 |SO
White Motors . . .| 62 50 6114 511
Wilson Pkg. Co. . .| 68| 6814| 6814| 68
BONDS.
U. 8. Liberty 3%5. ' o ael e IO
a 0 I N .00 il i iitads SRRV
do 2d 4s. . . .|90.20{90.20{90.20{90.40
S 0 30 SBN - il i) s i DVES
do Ist 4%s . .191.00(90.98{90.80!91,40
do 2d 4%s . ,|93.56/93.50/93,50/90.86
do 4th 4Ys. . .9!.10.".06 91.06191.10
do sth 4%5. . .}97.70 97.70{97.70197.%0
___do sth 3%5. . .|97.76/97.76|97.76{97.68
Ol Mey © .. .84 30 RV 18
| Bid | Ask.
Atlantic Steel Co., common ~| 92 95
B 0 P i hisvriasit BB 95
Augusta and Sav. Rallway.....| 92 9%
Atl. Ice and oal Corp. ......| 81 83
GO. pref.,...ivcvooooooooos] 82 84
Atlanta Trust QO. . ccoeosss|i2o Lsoos
Atl. &W, P. Rai1r0ad........[145 [l5O
[Aunntu National 8ank........1300 [3lO
Fourth National Bank ......[375 |[......
Citizens and Southern Bank ..1276 |.....
Bibb Mfg Co. m-c0n)........'n0
Exposition Cotton Mills ......[350 |[..,,.
Fulton National 8nnk.........11“ Seses
Empire Cotton Oil, common ..| 81 85
B Bt Gt
Eagle & Phenix Cov.’ Milia.!Ill200 " ...
Ga.* Ry. and Banking C0......|230 |235
'Ga. Ry. and Electric C0.......[106 [106%
‘ do, § per cent.....0.0c000.] T 8 76
Ga. Ry. and Power, Ist pref...[ 70 75
0. 34 Ppref. . .osessinensvel 38 15
do. COMMON. .....o.ooooess| 10 12
Bouthwestern Ra11r0ad........| 93 tL
Becurities Sales Co. .........-1145 |......
Trust Company of Georgia ... ~360 l.
Lowry National Bank ........1240 |.....
GRAIN GOSSIP.
By JOS, ¥, PRITCHARD,
CHICAGO, Feb, 11.«-The grain markets
surprised many traders Tuesday and also
‘prqved that it is dangerous to put out
ghort lines at this time, for prices ad
vanced in all the grains. Corn went up
3% to 4% cents, oats jumped 2 to 2%
cents, rye was s‘,* to 53 cents higher, and
barley advanced 3% cents, The cash mar.
kets were also strong at good n.dvnncclk
with wheat gaining 3 ceats, corn 1 to
cents anc oats 1 to 2 cents, Sales of
cash corn came to 106,000 bushels, while
the cash oatp sold totaled 335,000 bushels.
5 s 9
The change in the general conditions sur
rounding the grain markets will doubtless
prove encouraging to the farmer, and it
will also be more or les sos a help to the
owners of large quantities of the various
grains in country elevators,
N 0 0
‘ Expectation that the embargo on Fast
ern shipments would be modified so that
Jimited shipments may be made Bast was
one of the strengthening factord. Strength
at outside mnorkets, cnsh corn going 7 to
10 cents higher at Omaha, aiso helped
eheck the bears. The sterling exchange
situation also was more settled,
. s
Grain is not being sold freely hy the
country because of the recent price re
‘eessions, Advices say many producers, ros
fuse to sell their grain until better prices
are offered.
All leading spgt markets were un
changed, Atla.n@'s quotations being
38.80 cents. g 1
? B
! @
‘ ‘
\
|
‘ \ —————
NEW YORK, Feb. 11.—There was
an irregular tone to the stock mar
ket at the opening today with the
price tendency generally being to
higher levels.
~ Steel Common rose 3-4 to 97 3-4.
General Motors rose 3 1-2 to 250.
American Woolen, after its violent
decline of vesterday, sold 4 1-2 higher
at 126 1-2,
Baldwin Locomotive advanced 1 5-8
to 109 1-8 and Republic Steel made
an equal gain to 103 3-4. Studehakeri
rose a point to 88 and Pierce-Arrow,
after selling 2 1-2 lower at 63, rs-‘
covered to 54 1-2. All the railroad
stocks were in supply, New Haven
falling a point to 23 3-4, Northern
Pacific 2 1-4 to 68 1-4, Reading 1 1-4
;8 66 1-4 and Southern Pacific to
Marine preferred c}ndnued under
pressure, dropping 2 3-4 to 78.
American Can yielded 2 1-2 to 43;
Tobacco Products 3 1-2 to 68 1-4
:;;dl Llnlted States Rubber 1 point to
Mexican Petroleum rose 1 1-2 to
166 1-2, while Pan-American Petro
leum fell 1 poln\t}. to 74. Texas Com
panlys,’after vielding to 167 1-2, rallied
to i & \
After the early advances there was
renewed liquidation in a number of
issues during the forenoon, especially
the closely held specialties which
found little support and RQroke vio
lently at times.
Studebaker dropped mearly 4 points
to 84 1-4, while Stutz Motors broke
8§ 1-2 to 106.
Steel Common yielded 1 point to
96 1-2 and Baldwin, after selling off
to 107 1-2, rallied to 109,
The railroad issues were in sup
ply, Southern Pacific yielding fur
ther to 89 3-4, Pan-American Petro
leum dropped 2 points to 73 and Mex
ican Petroleum, after selling up to
166 1-2, broke to 163,
The market showed many mixed
movements during the afternoon,
moving up sharply at first and then
reacting again (o almost the low lev- l
els of the day.
- Steel common after advancing to‘
97 7-8, reacted a point. Crucible
rose to 213 and then fell to 208 1-8.1
Baldwin yielded nearly 2 points from
the high to 107 3-4. Marien common
rose to 28 3-8, and the preferred rose
1 1-2 to 79 1-2, followed by a reac
tion of over a point. Mexican Pe
troleum rose 4 points frof the low to
166 1-2 and then lgst meost of this
‘gain. General Motors reacted from
260 1-2, but broke to 244 1-8.
~ General Motors broke from a high
of over 250 to 2%, with a rally to
238 at the close. Pierce-Arrow broke
to 517-8 and Chandler Motors over
4 points to 124, Mexican Petroleum
dropped to 1621-4, but had a quick
‘rally at he finish to 1661-4. Pan-
American Petroleum slumped to
| 721-2 ° Republic Steel closed at
. 100 3-44 Steel common yielded to
96 1-4, then rallied to 96 3-4 at the
| close. The railroad stocks contin
;ued under pressure, Southern Pacific
closing at 891-2 and Canadian Pa
cific at 117. Central Leather was
‘over 3 points lower at 73 1-4. Bald
win was finally 107, Studebaker
83 1-4, Ttchison 771-2, Illinois Cen
tral 811-2, Marine preferred 78 and
United States Rubber 95 7-8.
The market closed weak; govern
ment bonds unchanged; rallway and
other bonds steady.
|NEW YORK CURB s'rocxsl
The market opened heavy and cloged ir
regular, |
Stogks— Open., Olose.
Aétna Exp. ... TH@ 8 1;2 %
Anglo Am. Oil ~ 24% @ 25 24 25
Costes B¢ & 1 :u S
‘osden ¢ .
Ind. Plpe .., 94 98 94 :l
Inter Pete . , 64 56 52 3
Lehigh V. C, . 82 87 82 87
Magma . . , 32 38 32 38
Marconl .. .. 422 4% 4% 454
Merritt Ot ~18 19& 18 184
Midwest Oil . ~ 1% 1 1% 1%
:Jdldv:lelt Rel:l'.l.lséu llg* ug* ll:%
orth Am. Pulp
Ohio 011 ....,.323 330 320 330
Prairie Ol ....600 610 600 610
Sub, Boat ..... 13 14 13 14
8 O.N. Y. ....393 398 203 398
8. ON. J ....805 698 695 700
8. 0. Calif, ~..310 315 310 831!
8. O Ind ~..080 700 680 700
Union Tank ..104 @lO6 104 @lO6
Viet. Ofl ..... I%@ 1% 1% 1%
Cons. Ariz, ~.. Y% @ % % %
Nipissing ..... D“g 10 I%@ 10
Glen Rock Oil.. 3% @ 3& 3 g 3%
O &% s b 54
U. 8. Steamship.. 3%8 % 3@ 8
SapUlpe . i B 6 B%Q 6
Car Light . . 2% 3
Braaon .- .4 356 030 15 @2O
Balt Creek....... fl%g 48
Oklahoma 01l ...ivvvvrveeess 6% 7
GIUNANRA . iviinroses sansscsns 38 331
Nunnally ..oeeoee voosssraess 18% 21
ORYDIAS ... covves seshosnvese 38 34
MAKIIIOY ossivisia bvdninairpns B 65
HHY LAKS civosrsinasskines 180 4%
Phillips Pete .ocoovesvsvsness 36 z 38
BANtON . ....00e sopesvnsoass T=l6
Bimms Pete .....coooooooooo 38 @35
ganta Cecelisa ....isovosooo. 80 @ 84
White Ol .....ocvvsssvrneess 28U ® 27
Chalmers Motors .......seoes 3 @ 7
ABDBAIE ... vi vs sissiais 380 B 8
Int. Con. Rubber ....ceccoese lg' @ l:
MATIANGA ... coviivvreve aasnns
U 8 P. Bhar, '...icovssivecs 2'28 z»'z
POOrIOBE .. ...oooviie sosnssee 40 0 48
MOPPIS .. iosve ssassirsrsin’ z 8
Ing. Pook, 00, .ioiossenpuses 3T 17%
U 8 BhD. ivssisensnvasene %0 %
Wayne COAIL ~...oosovoooso¢ 4UR §
BRENY . cicorionnve sonneinnee DRG 108
Ray Herculos ......coveseoes laz 114
BIK BONIR viocririssnmetognsr B 8%
Tobacco Products ......,.... B%U®@ 9
Hooms O " viivaivannesopsnrs SHE. BN
BWOIEE /. cvioiiiien, snespsass B R 0 %
Allied Ol .oovvovennsrscnnnes H%@ll-16
POUIDOCKE .iicocise seniatsser § O 9%
JUBDO . vas s nvie samisiise WA B
Colonial Tire ......cevvooo:¢ 83%H0@ 9%
J. ¥. CLARK'S LETTER,
. NEW ORLEANS, Feb. 11.—Liverpool adg
vanced as much as 30 points on near vo
‘mtlons, with spots 42 points up and sries
%,000 beles, but was lower on the distint
poritions. Although general press news
was quiet, containing mnothing especially
provocative to pressure the market, the
opening was bearish from the start, with
near positions opening unchanged to §
down and liguldation selling causing the
decline to become extended soon to 30
points, The news from Japan of a grow
ing fear of bolshevikl invasion recelved
most attention. Dry goods report saia dry
goods showed an casier tone,
New York will be closed tomorrow, but
the local market will be open.
" The weather map shows generally cloudy
‘helt, no rain except over the southesst
quarter of the helt. 'The outlook is for
continued cloudiness and colder in the
northwest quarter, probably loeal rains.
“The market rallied about 20 points after
the first selling rush and seems strong at
‘present around 23 cents for May,
| METAIL, MARKETY.
. NEW YORK, Feb. 11.-~Metal prices:
Copper, quiet. Spot and February, offored
19; March, April and May, offered n:’,.
~ Lead, firm; espot, February, <h,
April and May, $% @9.
Smelter, firm; spot, February, Maroh,
April and May, 8.62% @8.71%.
STOOKS IGNORE LOW MONEY
AND BULLISH STEEL FIGURES
By BROADAN WALL.
NEW YORK, Feb. 11.—With call money being offered at 6 per cent and
the United States Steel Corporation reporting an increase in unfilled orders
for the month of January amounting to 1,020,078 tons, stocks broke badly
Tuesday and closed the session with prices of the standard issues down
from 3 to 5 points from the previous final figures. Specialties like General
Motors and American Woolen ended the’day with net losses of about 10
points each. New low records for this year were made ni many directions.
At the opening quetations showed frac
tional losses and for a time it looked as
though the list would rally when the
calp money rate eased off to 8 per cent
and the Steel Corporation issued its fa
vorable unfilled tonnage statement. The
market, however, lacked purchasing
power so that when the bears began a
drive in the early- afternoon quotations
yielded easily under the leadership of
General Motors and Steel' common, both
;:M\.vhlch touched new bottoms for this
In the last hour there was a feeble
rally but twenty minutes before the
close acute weakness developed in all
directions and prices were fading awsy
when the session closed. Stop loss or
ders were encountered on the way down
and this accelerated the decline.
The volume of business transacted in
¢éreased as prices depreciated so that when
the gong sounded for the end of business
the ticker tape was about eight minutes
behind. ; Shortly before the close eall
money was offered at 6 per cent but ap
parently no attention was paid to the low=
ering of the rate.
The fact that the market developed
weakness in the face of favorable news
was disheartening to those who have been
predicting that lower money rates would
furnish the basls for a sharp rebound,
Trading was considered highly professional
with the bearish element dominating,
Announcement that the railway em
rloyeeu would strike on February 17 un
ess granted an increase in wages had
an unfavorable influence on the market
for railway shares which has been thin
for weeks. Southern Pacific, which I 8
considered mosat favorably among the
rails because of its equities in oil lands,
lost nearly 3 points and sold at a new
low for this movement. Union Pacific
was also offered In liberal volume at the
expense of quotations «nd closed with a
net loss of nearly 4 points. Considering
that Texas and Pacific sells for a low
number of dollars per share, its drop of 4
points emphasized the weak technical po
sition of the rails.
Railway executives state that prepara
tions have been made sor the return of
the roads to private wwnership on March
1, but even with the passage of the pro
poserl new railroad legislation there are
prominent bankers who believe that this
will not prevent a number of reeeiver
ships and bankrupteies that are expected.
Large houses report steady liquldation
of securities by Europeans, especially
British investors, The securities include
bonds and stocks of railroads, industrials
and some public utilities. o
Large commission houses report that
their customers are stubbornly holding on
to their securities. Calls for additional
margin are followed by the receipt of
large amounts of funds by these brokerage
houses. One firm today received nearly
$750.000 in cash in response to a call made
on some customers. ‘There is also some
cash buyving of stocks, but this is on a
light secale,
Middle States Ol was strong most of
the day and was one of the few stocks
to close above the previous final quota
tion.
South Furnishing
New York With
- Banking Talent
- Banking Talen
The South has furnished New York with
more banking talent in the past few years
than any other section of the counfry can
boast. This observation is given point by
the announcement Wednesday that Frank
K. Houston, a Tennessee boy, has been
eleeted vice president of the Chmical Na
tional Bank of New York. He goes there
as an associate of Percy H. Johnston,
president of thig staunch oid institution,
a Kentuckian who hiw been in New York
less than three years, going there from
the Citizens’ National Bank of Louisville.
Mr. Houston goes to th# metropolis from
Bt. Louis, where he has heen several years
as vice F‘relldant of the First Natinoal
Bank, although ne started his banking ca
reer as secretary of the Tennesee Bank
ers’ Association,
The Guaranty Trust Company, which is
the largest institution of its kind in this
country, has added nine Georgians to its
staff, two of whom, Eugene W. Stetson
and Merrell P. vC‘m’twny, of Macon, are
vice presidents, ile two others, John M,
Ross of Macon and Kennevh Ward-Smith
of Atlanta, are assistant treasurers. New
Orleans llkewise furnished the Guaranty
with one of its most prominent vice presi
dents, A. Breton.
Other New York hanks which have re
cently called Southerners to official posi
tions ¢re the Chatham and PHenix Na
tional, ir\(n? Natfonal, Metroyollmn Trust
Coéompany, National Bank of Commerce,
and the National City Bank, while various
others have ap{minted Southern men to
important unoffieial posts,
e————————
ATLANTA LIVE STOCK MARKET.
(Corrected b‘y W. H. White Jr., President
of White Provisien Company.)
Good to cholce steers, 560 to
1,000 pounds ........00000 o 9.73@10.50
Good steers, 760 to 850 pounds 9.60@10.00
Medium to good steers, 760 te ]
850 Poundt e 'vin's honp wains cams, HPOR . 0.80
Good so cholce beef cows, 750
to 850 pounds ........iOOOO B.oo@ 8.50
Medium to good cows, 650 to
760 POUNAS .....:eccscsess. 1,000 7.60,
Qood to cheice heifers, 550 to
650 pounds ri 6.50@ 7.00
The abové represents the ruling prices on
good quality fed cattle. Inferior grades
and dairy types quoted below:
Medium to good steers, 700 to
800 pOUNAS .......coooo.cs.§ T.so@ 8.50
Medium to god cows, 600 to
700 pounds .......cesarnens 6.50@ 17.56
Mixed common SOWS ........ 4.50@ 6.50
Good AL OXON ..p.csesseesss 1,500 8.00
Good butcher bulls .........0 6.60@ 8.00
Cholce veal CAIVEB ....oovvse G.SOg 8.00
Yearlings .......coeoesveicans 4.50@ 6.00
Prime hogs, 1656 to 225 pounds 13.26@13.50
Light hogs 1156 to 165 pounds 12,26@ 12,60
Heavy plgs, 100 to 136 pounds 10.26@10.50
ng'ht pigs, 60 to 100 pounds 9.25@ 9.50
he above applies to good quality fed
hogs. .
CHANDLER MOTOR EARNINGS LARGE.
Directors of Chandler Motor Co. are
scheduled to meet for dividend action early
in March and earnings at the present
time are running at a rate to justify the
expectation that the present dividend rate
of $8 a share on the stock will be increased
at this meeting.
~ Shipments of cars in January, which lis
‘usually the slowest month of the year,
totaled 2,260 and an output of 8,000 cars
is expected for the fireét quarter of the
year, against a production of 18,000 cars
in 1919, Net earnings in January were
SBOO,OOO and an official estimate of earn
ings for the first quarter of the year places
them at $2,700,000, or at the annual rate
of s6l a share before taxes.
The car shortage is not’ hampering the
company’'s deliveries as shipments are be«
ing made overlamd when railroad space is
not aveilable.
is amagazine that is teaching
thousands of people how to
make a profiton listed stocks
and bonds. Write for this week’s
issue, which %wno up-to-date
information a several estab
st *a i it o Herh
retnrllh INVESTD&NT l% P‘el{l.*.
WRITE TODAY.
KRIEBEL & CO.
1 TIN Aol owl 1O
152 H South LaSalle St., Chicage
|
! ‘
»
-
i CHICAGO, Feb, 11.—Leading com=
’misslon houses had good buying or- -
ders today when the corn market
opened and took most of the offer
ings at prices ranging from 1-4 to
|6-8 lower. e
Trade was moderate in oats with
little pressure, opening prices being
1-8 to 1-4 lower followed by prompt
recovery.
Provision offerings were limiting,
short covering starting prices § to
12 1-2 cent higher.
Corn closea' 2% to 214 eents higher,
' Oats closed 14 10 1% cents higher. +4
Provisions ciosea higher® fi"\
CHICAGO GRAIN MARKET,
’ ‘ | | lPrev..z
o |OpeniHigh|Low|Close|Close
\)l;orn ' 1281 ( f T
May 2816( 131%( 12 130%| 128%§':
‘July ‘ 1263 128%) 12434] 128 125%'
S(e)p; 12330 125%) 131%) 125%] 12314
ats
May 77 8% 76% TBU] 7T
July 69%| BBl%| 68% 70%| 69% '
Pork |
May 34.37] 35.10 f 34.35| 34.85| 34.25
July ceeoif 834.76] 34.50] 34.76| 33.95 '
Lard
May 21.25! 2155/ 21.10{ 2145} 21.30
JH)L 21.771 21.97| 21.57] 21.85 21.70
Ri
May 18.45/ 08.57/ 18.30[ 1847 18.37
July 19.00] 19.00] 18.80| 19,00{ 18.90
© ST. LOUIS LIVE STOCK MARKET.
AT. LOUIS, Feb. ll‘—%rttle. receiptsy
4,500; market strong. Natfve beef steers,
15.60@16.75; yearling beef steers and heife -
ers, 10.00@12.00; cows, 9.75@10.00; stocke
ers and feeders, 10.00@10.75; calves, 16.00@ '
17.75; canners, 5.50@7.50.
Hogs, receipts, 18,000; market, 5@108"
higher. Mixed and butchers, 15.25915.753
good, 15.10@15.50; rough, 12.50@15.75.
Sheep, receipts, 2,200; market, steady,
Ewes, 10.00@12.00; canners and choppersy
5.50@6.00; lambs, 20.00@ 20.35.
CHICAGO LIVE STOCK. &
(By U, 8. Burean of Markets,) o
CHICAGO, Feb. 11.—Hogs, receipts, 13,4
000; ‘market 25 to 30 higher; some light
hogs 40c higher. Bulk, 14.60@15.50; top,
16.60; heavy weight, 14.40@15.00; mediu
welght, 14.76@15.30; light weight, 14.855'
16.60; light lights, 14.756@15.50; heavy
packing sows, smooth, \12.60@14.25; packs
ing sows, rough, 13.00@13.50; pigs, 13.78
@15.00. !
Castle receipts, 7,600; market generally
| steady. Pees stcers, medium and heavy, -
weight, choice #nd prime, 15.00@17.003.
’tht weight, 11.00@15.00; good Ind choice.™
‘12.00@16.00: common and medium, 8.50@
12.00; butcher cattle, heifers, 6.50@10.50¢
cows, 6.50@11.25; bulls, 7.00@11.00; ecan=- ,
nets and cutters, cows and heifers, 5.25@
6.50; canner steers, 6.25@7.75; veal calves, '
light and handy weight, 16.26@17.503
feeder steers, 7.85@11.75; stocker steers,,
7.00@10.50; stocker cows and heifers, 6.7!!
@9.00; stocker calves. 7.75@10.10,
Sheep receipts, 6,000, Market 25a:
higher, Lambs,~ 84 Ibhs. down, 19.00 M
21.6565 lambhs, culls and common, 15.25@ °
18.50; wvearling wethers, 15.50@19.15; ewes,
11.25@ 14.26; ewes, culls and common, 6.50
@10.25; feeder lambs, 16.75@18.00. ¢
‘ JACKSONVILLE LIVE STOCK. o
Hogs—Receipts, medium; prospoctaA
#teady. Choice heavy, 13.00@13.25; good |
heavy, 13.00@13.26: rough heavy, 12.00‘2
12.25; lights, 12.00@12.25: heavy pi
‘11.00@11.25: light pigs, 9.00@10.00. W
Cattle—Receipts, light; prospects atead:,
Steers, 5.50@12.00; hulls, 5.00@7.00; years
lings, 6.00@7.00; cows, 5.60@7.50; veal
calves, R.oo@l2,oo.—~Williamson and Do*-
nis, February lb. Q
NAVAL STORES, 3
| AVANNAH, Feb, 11.—8pirit: Regularsy
1.96; sales, none, 4
Rosin: _ Northing: WW, 20.75; WGy -
20.50; N, 20.00; M, 19.75; steady; K, 18,503
1, 17.75; H, 17.75; G, 17.75; ¥, 17.75; He
17.76; D, 17.76; B, 17.50.
Receipts: Spirits, 44; rosin, 489,
~ Bhipments: Spirits, 6; rosin, 842; stocksy
spirits, 9,098; rosin, 36,215,
NEW YORK PRODUCE MARKET,
. NEW YORK, Feb. 11.—Petroleum, firme
Crude Pennsylvania, 5.50. i
~ Turpentine—Weak, 2.03, e
Rosin—Easier; common, 18.75.
Wool—Firm; domestid fleece XX Ot;:z
62@1.00; domestic pulled pscoured ba: *
76 1.65; domestic Texas scoured basisg.
‘I.OOQ‘I.'IS.
Hides—Dull; native steers, 44@463
;brnndod steers, 4% @35, 5 £
Coffee—Rasy; options opened 2 to 20
points lower; Rio No. 7, an spot, 14.34.
. Rice—TFirm; domestie, 9% @165.
| Molnm’»mrm; New Orleans open kotd
tle, 1.0261.12; hlack strap, 12@21. 3
. Raw Sugar—Easy; centrifugals, 12.75@
13,04, -~
Refined Bugar—Dull; fine granulatedy
16@16. i
CHICAGO CASH GRAIN, ot
CHICAGO, Feb, 11.—~Wheat, No. 3 1
2.226@2.36; No. 3 hard winter, 2.25@2.3
. Corn: No. 3 mixed, 1.39; No. 4 mix
1.31% @1.35: No. 3 white, 1.42; No.
white, 1.37@1.39: No 3 yellow, 1L.40@1.413
No. 4 yellow, 1.34@1.39, ¥
" Onts: No, ? white, 8414 @B6; No. ¥
white, 831% @BS; standard, 77.
One Hundred Dollar
Investments
Do you beliéve the couftesy
and attentién of a reliable in
vestment securities concern is |
medsured by the yardstick of *
wealth and affluence? :
Bend for Our Booklet
“Concerning 28 Cents”
We Believe 1t Will E
4 Interest You i
SSECURITIES SWEES COY 1
eS v y
“Grant huumn; i
ATLANTA
Charlotte Birmingham
New Orleans Jacl ville ;
BONDS i