Newspaper Page Text
Following Early Rise to New High Record for March Cotton Futures, Profit Taking and Weakness-in Securities Pull Values Down
lindld
Atlanta bank clearings Thursday..... se. oe. ...$12,315,616.04
PAND BAY 16 T 1o oon mosesmn shapm. mam =s . 01NT,307.10
7/ e — e
o T RS IR R R ey gy )
Bamo day lasb Week .. ... c..ccooe cun won oe. 10,071,351.56
Same da’ PELD ok e v gon senwy wew e 8;504!280‘19
Atlanta cotton statement Thursday:
3 1920, Last Week. 1919, 1918,
Receipts .. .... .. 857 489 492 1,603
Bhipments.. ...... 761 509 533 1,675
Books .. ~ .. ...82,763 33,399 23,850 51,748
. 9 &9
Atlanta Spot cotton Thursday.. co.cee ves 2o coves .. 40.45¢C
Sgge ANy IENE el Lee eVe DR
BTN T R TOOF .. oie ov i, when auiative da it + TRO
o e RN SO ISR e,
* . -
By VICTOR BARRON.
In response to firm Liverpool cables, continued trade house buying and
further covering of shorts, the cotton market exhibited a steady undertone
&t the start Thursday, with prices 3 to 14 points higher. Liverpool and ring
mewpmmswmmw—wn PTOf€sSionals sold after the opening, but a good demand
B i existed from leading trade houses, spot firms and Wall
Peiie) . & Street, which, together with covering of shorts, easily
RO n
B absorbed contracts. Following a reaction from the ini
3“”"}‘ tial range of 2to 15, the market quickly developed a
x“’“}e‘;' stronger tone on the unchanged bank rate in England
E "5.25.5;353'-’3?’ und renewed strength in the stock market. Although
;f?ff?f”;'-:j W e hesitancy was shown among those bullish inclined,
so 0 F TUME owing to fear that the Federal Reserve Board will raise
E . § @ 'he discount rate.
P % Demand increased after the end of the first thirty
~>, minutes’ trading, carrying March option to a new high
“; ‘ecord for all time, the spot month at New York rising
A S 12 points net higher to 37.89, while the same position at
. New Orleans advanced 50 points to 38.75. Other posi
b - tions at New York rose 25 to 37 points above Wednes
(; % day’'s closing quotations, with May climbing to 35.32,
- . BPN July 3295, October 30.75 and December 30.20. At these
[ < A% @R levels the market exhibited a gain of more than 100
points from Wednesday's low levels, or 300 to 409 points
higher than the low record, recorded February 4 last, when March fell to
$3.80, May 81.50, July 29.49,, October 27.62 and December 27.20.
Continued large exports from Galveston also invited buying, 16,108 bales
being cleared from that port Thursday morning for Great Britain, making
61,633 bales that have been cleared so far this week. Savannah exported
10,208 bales to France. In addition to this, reports of better demand for
gpot cotton in various sections of the belt and continued cold, wet weather
over the belt held pressure in check. 2
L A St L LSR i A
'{CHICAGO, Feb. 26.—Trade in corn
was steady but not large, Locals did
most of the buying, with commission
houses buying. The opening was 2-8
lower to 3-8 higher.
Oats had a falrly active, mixed
trade, opening steady to 1-4 higher.
There was a sloy trade in provi
sions, which opened slightly lower.
Corn closed % to 1% cents higher.
Oats closed %-cent higher to % -cent
lewer.
Provisions closed lower.
! ’ ‘ ‘ ll‘rnv.
_.__lOpen | High | Low | Close |Close
Corn |
»May 1.36% | 1.37%/[ 1.36 1.37%| 1.36%
« July 1.31%) 1.32%] 1.29%| 1.31%/| 1.30%
Bept. 1.27%| 1.28%| 1.26%| 1.28%/| 1.27%
Onts
May 808 [ .80%| .79%| .80%( .80%
July 728 73 J 2% JT2%) .72%
Pork
Mav H.’N.fis 34.65 [34.37 [34.55 [34.65
July 34.35 |34.40 34.26 [34.37 [34.45
Lard |
May [20.96 [20.95 [20.80 [20.85 20.90
Julv |21.50 [21.50 [21.15 |21.35 \21,50
Ribs | |
May ‘18.25 18.35 [18.15 [18.35 [18.37
July [18.75 [IB.BO [18.60 [IB.BO [18.36
i
" CHICAGO CASH GRAIN.
CHICAGO, Feb. 26.—Wheat, No. 1
\ northern spring 2.60; No. 3 northern
sprin 2.40.
Corn, No. 8 mixed 1.46; No. 4
mixed 1.42@142 1-2; No. 2 yellow
1.49@1.50 1-2; No. 3 yellow 148@
1.50 1-2; No. 3 white 1.50 1-2@1.52;
No. 4 yellow 1.44@1.46,
Oats, No. 2 mixed 85 1-2; No, 2
white 87 1-2@89 1-2; No. .3 white
86 1-2@88; No. 4 white 86 1-4@
‘B6 1-2.
CHICAGO PRODUCE MARKET.
CHICAGO, Feb, 26.-—Butter, receipts,
2019 tubs; creamery extras, 64%; firsts,
67@64; standards, 64%; packing stock,
So@3s.
Eu;s, receipts, 9,499 cases; miscella
neous, 47@49; held firets, 43@48; firsts,
650%; refrigerator, 25@40; checks, e
38; Airties, 40@44
Cheese, Twins, new, 37; dairies, 9% @
30%; Young Americas, 0@30%; long
horns, 32; bricks, 27
Live poultry, turkeys, 40; chickena, 37
T.'é““‘" 34; roosters, 24; geese, 26; ducks,
w e,
i
JACKSONVILLE LIVE STOCK,
Hogs, receipts, medium; prospects,
Jower; choice heavy, 13.35@13.75; good
heavy, 13.00@13.60; rough heavy, 12.00@
12.60; Mghte, 1200@12.76; heavy Dpigs,
11.00611.76; light pigs, 9.50@ 10,00,
Cattle receipts light: “rospects steady;
steers, LIGE11.00; i b loqgl 50;
yearlings, 5.50@7.50; vea calves, 0@
11.00; canners, 3,60 up.~Williamson and
Dennis, February 25,
————————————————————
& FIXTURE CO.
93 N. Pryor St., Phone Ivy 1158
DESKS, CHAIRS,
FILING DEVICES.
Large Stock. Low Prices,
'CALL A"
YELLOW
L
717173
THE GEORGIAN'S PAGE AND FINANCIAL NEWS
. A _sudden selling movement, chief
ly profit taking, coupled with the
weakness in securities and 10 per
cent call money, caused practically
the entire gain to be wiped out just
before the noon hour, March (New
York( reacting to 37,68 and May to
35 cents. oy =
The uncertainty of treaty news
from Washington and increased rea
lizing sales depressed the market to
new lows for the day during the late
trading, March reacting to 37.35 and
May 3481, During the final few
minute¢’ trading a fresh wave of
covering, due probably to the sharp
rebound in stocks, lifted the list
sharply from the lowest levels, final
prices at New York being 10 points
higher to 19 points lower.
Atlanta spot cotton was officially
quoted 20 points lower at 40.45 cents.
‘Middling at New Orleans advanced
25 points to 40 1-4 cents, and spots
J;t xN’ew York dropped 25 points to
9.85.
The comparativety light offerings
of spot cotton and small certificated
stocks at New York is causing un
easiness among shorts. There is no
indication of weaknes on the part of
holders, the upward reaction to 40
cents and better ‘at most points in
the belt failing to bring out free of
ferings. Holders realize that with mills
enjoying the heaviese business in his
tory at tremendous profits, and that
the supply of good spinnable cotton
daily is growing scarcer, that it will
be only a matter of a few weeks be
fore mills, both domestic and fof
eign, will commence to buy freely.
According to one large spot firm,
about the only argument left to the
bear side is the theory that all mar
kets are in for a decline, and there
seems to be a growing feeling that
cotton is an exception.
“In predicting that cotton must
decline with other commodities,”
says a New York trader, “it is per
haps lost sight of that the countries
most urgently in need of raw @otton
can grow their own potatoes, cereals
and other farm foodstuffs, but must
depend upon comparatively limited
sources of supply for their cotton.
Therefore, it would seem not at all
unlikely that cotton may remain
steady, or even advance, during the
period other commodities are declin
ing to nearer a pre-war basis.”
~ Some of those recently talking de
cidedly lower prices for raw cotton
‘have changed their opinions and now
‘are lined up with the most confident
‘friends of the market, and predictions
‘are heard that cotton will sell at
‘new high records before the new
crop has been planted. However, a
bull campalgn. at this period of the
‘geason is nothing unusual, and In
most instances the market has been
allowed to rise to attractive prices
in order to stimulate a heavy acre
age. However, Southern cotton
planters have received their diplo
mas in this experience and will not
be trapped into overplanting cotton
by the mere ruling of high prices
‘during planting season only .to see
them fade away immediately after
the seed have been covered.
With labor searce and commanding
record wages, fertilizer high, all
farming implements bringing record
prices and the cost of living at un
precedented heights, the South is de
termined to produce bountiful food
‘and feed crops this season and make
‘cotton a surplus crop.
| Tt atmeiiinien
~ (CHSCAGO STOOKR,
‘ C“[fihflffib. ’:‘!V:m recolpts, 23,.-
000 Market mostly 26c higher, Bulk,
H,lfign.lb; top, 16.00; heavy welght,
12.86@14.60; medium welight, 14.40@ 14.50;
light welght, 14.86@16.00; light lights,
iieglE bty T TG
o 403 ) "
12.60; plem, u.nMo o T °
| Onttle, receipts, 9,000, Markot steady
to mtrong. Beef steers, medium and heavy
weight, 13.76@16.00; cholce and prime,
13.75@16.00; medium and good, 11.26@
13.76; good and cholce, 11.80@16.25; com
‘mon and medium l,lo?ll.oo: butcher
cattle, heifers, mko,xn i cows, uo?
11.50; bdulls, 7.26@10.76; eanners and cut.
ters, cows and heifers, 470@06.50; can.
ner steors, 8.26@7.78; veal calves, light
and handy Welght, 16.00@160.256; feeder
steers, 7.00@11560; stocker wteers, 6.76
10.26; stocker cows and heifers, t‘"'
9.00; stocker calves, 7.75@11.00
Sheep, recoipts, 14,000, Market lower,
slow; wheep, -trong to higher. Lambs,
84 Iba down, 17.50402065; lamba, culls
and common, 14.00@17.25; yoarling weth.
omll.fl’ll.": ewes, 11 2&?1! B 0; ewes,
ou! and ecommen, 600@10.76; Zfeeder
ananbem, IL6AO€) LAOO, ‘
| e
NEW YORK, Feb. 26.—~Firm cables
‘and a continuation of yesterday's ac
tive buying by trade interests caused
further advances in some months at
the opening of the cotton market to
day, the initial range being 3 to 14
points higher, March was strong in
view of further covering by shorts
and more liberal sales of the spot
article in the South with only a smali
‘supply here, Although Liverpool sold
a little here, its offerings were well
‘absnrbed and at the end of the first
ithirty minutes the list was firm at an
upturn of 5 to 29 points.
March option rose to 37.80 during
the forenoon—new high record—and
other positions advanced 25 to 387
points, as the result of continued
covering of shorts, trade house buy
ing and demand from spot firms,
‘May rose to 35.32, July to 32.98 and
October 30.75. Toward the noon
hour the market reacted within sight
of yesterday's close on profit taking
and the break in stocks.
Further profittaking and less op
‘timism with regard to the peace
treaty news, depressed the market
lower during the afternoon, March
breaking to 37.37 and July to 34.81.
Towards the close demand increased
and values worked upward, with the
closing prices 10 points higher to 19
points lower than yesterday’s close.
Spot cotton was quoted 25 points
lower at 39.05,
—NEW ORLEANS COTTON.
| , t ‘IM(I | Prev.
. |Open High| Low| Sale| Close | Close
Mar. ;.‘&s.su{xu.7s!3s‘3lJ3l.s7|ss.sc-mfzx.zs-ss
May [36.65(35.80(36.30/36.53/35.52-54/35.46-51
July 133.25/33.45/32.83/33.07133.07-10/33.12-16
Oct. ]30.57/30.80/30.21 31.31!30.35 [30.54-58
Dec. (30.02(30.02(29.63129.61{29.60 ‘zo,u-so
Jan. |29.50/29.50(29.30/39.30]29.00 29.58-40
Closed steady.
| NEW YORK QOTTON.
| | ‘l l Last| ‘Pn-v.
|@pen/High| Low| Sale| Close | Close
Mar. 31‘65'37.39!3736‘37‘58{37.67-68!37.57~60
May [35.10/35 3:}34.81 34.95/34.60-98134.96-98
July |32.65(32.96/32 40/32.52132 52-55/32.61-65
Oct. [30.55/30.78/30.17/30.35/30.31-35(30.50 |
Dee, !29.98;3020'2!.1312',31jzf-.m 129.95-98
Jan. |29.15(29.90(29.58/29.55/29.51-55(29.65
Closed steady.
AMERICAN EXCHANGE,
Following were ruling prices on the
American Cotton and Grain Exchange Ine.
Thursday: P
| ’ | 1 | I]"rev.
[ Open|High|Low{Close|Close
March .. .. .. |37.65/37.85/37.38/37.68/36.78
MRY .. .. o. |35.08125.35]34.81.34.95/34.94
JUIY oo oo ou .|32.63|32.96/32.40]32.50/32.60
OCt. v. oo s+« +.]30,50130.78!30.17/30.31]30.49
Dec. .. .. .. ]29.98/30.20{29.75/2980/30.00
LIVERPOOL COTTON.
Futures opnmd__q_ui:t._»_ru
e 12:00! |Prev,
|Open|P. M.|CloselClose
PeDTUALY »a ~. 0.|28.19].....]29.19127.84
e . ..‘27.55125.04127.94»274u
N , cesales IR NN
MAY .o oo +o o |26.80/26.85/26.76/26.48
FUNE o ne e o’ [REERLE < IREIEERE DY
JUIYy .. ee o. oo |95.52]35.64]25.67/25.30
AUZUSt .. oo oo +.|24.07]25.02]24.97/24.68
Beptember .. e oo 15505:1e5e..124.30(24,18
[mmtwr v 8w 23,58’23.1:‘23.51»[23.45
November ... .+ [28:74]23 22123 13(33.01
'Devember sesn o 4 22.“’22.!3{!2.73!22.81
| January .. .. .. ..122768]22.66/22 45]22.39
| “Closed quiet.
Atlanta Cemmercial Ikzhfl- otes
L
New York mid 1inr.................:n.l e
New Orlean middling (sales 2,007)..40.26¢
Savannah middlng .......5e0......39.26¢
Liverpool goed middling ...........32.444
Norfolk mIdAIUNE ..evveeecsnesssssa 38,260
Augusta middling® ....oevveviessnss 39 00¢
Houston mlddlln: ihasise nrrhernts NI
Philadelphia middling ......seses..4o.3s¢
Boston middliNg . ....ceonssssssess.39.3so
Charieston middlng ......eee....0.39.250
yllmmnon mIAANDE .. ghesioen.oo.3B.26o
GREIie TIABMBE o 0.. T tsaseens 30:008
Bt. Louis mIAAUNE ... ccnsssesees.39.soo
Mobile MIAAINE . ....ccoovasees-0s:30.000
Montgomery middling ...‘..........g1.00c
Little Rock middlng .....eeee00:02:39.600
Galveston midANNE ....ccessasssess.4l.so€
Dallas middling e absadWET e s auks (TR
NEW YORK SUGAR MARKET.
e it Opeing. | CIEERY.
WY ov oo o #0 4s 9 60@9. 7210 RIMY.BS
TRDD s se W ks o.aoauou,?o 9.76
July .. ee se s +:]9.6080.75!9.66 9.70
AUugust .. «o os e 9.60@9.76/9.60@9.65
September .. .. .. .. 19.60@9.70{9.6009.65
————————
COTTON REED OfL.
_________|_°l!‘?"l!!;_,|_(?!°"!!!-_
MAroh oe ae +e |18.35@18.45/18.36818.50
ADPIL oo oe os +4|18.50@19.10119.10@19.60
MAY .. oo oo 0|18.55@18.58119.46@19.60
JUNE .. oo ov o+ |18.60012.85119.60@10.76
Yssw b 0 nunnvs.n‘n.uwu.m
August .. oo s 19.75m19.99119.60@19.85
geptember .. .o |l9 706919.90/19.40@19.65
Qctober .oo e llß.oo@lß 98/16.50018.25
“Closed steady; sales 35,800 barrels.
e ————————
e ————— i
MONEY AND EXCHANGE.
NEW YORK, Feb. 26.—Ca1l money
on the floor of the New York Stock
Exchange today ruled at 10 per ecent:
high, 10 per cent; low, 10 per cent.
Time money was firm. Rates were:
Sixty days, 9 per cent: ninety days,
9 per cent; four months, 9 per centi
five months, 9 per cent; six months,
9 per cent.
The market for prime mercantile
paper was strong.
Call money in London was 4 1-4
per cent,
Sterling exchange was weak, with
business in bankers' bills at 3:36 1-2
for demand.
New Stock Issue of
Fourth National Bank
of Atlanta
Notice s hereby glven that shareholdars
of the Tourth National Bank of Atlants
have the right te subseribe for the same
number of shares of the new stock, author«
jzed by & stockholders’ meeting held Febe
ruary 24, 1920, as they shall own of the
existing stock at 2 o'clock p. m., Central
time, on March 4, 1920, as shown by the
books of said bank, said new stock to be
paid for at S2OO per share by stockhold
ers or thelr iransferees on or before 2
o'clock p. m., Central time, on March 23,
1920
This 24th day of February, 1910
CHARLES I nn‘\dai,
By order of the board J' flmn
iiSECURITIES SALES COIE
INVESTMENT SECURITIES
PHONE Direct wire so our New York Correspondent GRANT BLDG
w 2200 Hayden, Stone & Compa:( ATLANTA
Members of New York Stock Ex ange.
New York Stock Market l
Market closed strong. s
Stock sales, 969,600 shares.
Bond sales, $12,153,000.
et
Last |Prev.
_BTOCKS— High| Low | Sale |Close
Allis-Chal. . ~ ..| 38%) 36%| 38%) 37 |
A BN . diisshiessdbiiisl R
Am. 8. & Com. ..| 20 »” MW Livis
Am. Beet Bug. . .| T9%]| 78 79%| 71
Am, Can . . . .| 41%] 40 4034 39%
Am., Car Fdry. ../127 123 [126%(126
Am., Cot. Ofl , ..| 4034 | 40% | 40| 41
Am, Locomo. . .| 90 87 90 87
Am, Smelt. . . ..] 80| 69%] 60%] 60
Am., Steel Fdr. ..| 40%/( 39 4022 39
Am. Bug. Ref. . .[126%[124%|126%4]12414 [
Am. Tel. & Tel. .| 883%| 96%| 87 967
Am, Woolen . ..[122 [118%4]121%/116
Am, Linseed . « |ooiiilooiielessa] 7
A, G &W. L , .|142 137 ]137%|139%%
Am H. & L. ~ ..| 20%] 19%4| 20%| 20%
do. ptd. . ~ .|[lol%]| 95 99%|101
L BN s s e wleiniilisia Ve LI PR
Am. Sum. Tob. ..| 82 80% | 813%] 80
B BB . . ivis sliiasslessielveiesl B 8
Am. Writ. Paper .| 40 40 40 %
Am, Int. Cor. ~ .| 89%/| 87%| 89 8%
Alloy Bteel . , ~| 43 424/ 43 43
Alska Qold . o Jessiiliie el s l:z
Anaconda . . o .| 56%| 64%| 66%] 66
Atchison , ~ , ..| 82 81 82 8134
Bt O RAES 4 v v dieveidsdonaßiaes] 38
AJRE BB - . » o sliasisbiasinlinass] ST
Bald. Locomo. ...[1073/104% (10711048
B, & Ohlo . . ..| 36%| 33%| 36%/| 34%
Booth Fish, . . .| 10%&] 10| 10| 10
Beth. Steel “B” .| 837%! 81%| 83%] 83
BiR T. . .. o . 13%] 13%5] 183%] 13%
BUEES WOPe. . o Jissssliissshoiisl B 8
Butte C. & Z. . .| B%| B%| B%| 8%
OBt Puttal. . o licsvalivossloicisl 330
CORIE XN, & & oleseialesnsstsosssf VI
Can. Pac. . « o .[121%]119%]120%1{120
C. & Ohio . o o .| 553 | 64%| 66| 63
SN OP, s o s anlilssalrasosl B 2
Celo, F. &I. . ..| 87%| 31 37 |B7
O, M. & Bt. P. .| 39%| 36%| 39 |37
a 0 Prd . o J|ebaeelisaaliiarali B 8
Chino Copper . .| 33 31%| 33 | 334
Obl. 88 . . « YV 1T 1T 1Y
forn Prod. . . 19 7% 18%) 77
Coon-Cola . . . .| 88 371 |3B 31T%
Crucible Steel , .[197%[19135]196 [l9l
Col. Graf. . . . .| 40 | 3914 40%]| 30
Cuban Cane BSugar.| 40%/| 39%| 40 401
Central L. . . . .| 79%] 76%] 79 %
Chile Copper . ..| 18 16 16 16
Chandler Motor .{122 {117%[123 (118
Ol KO -, . idevesilinsislyvaes] B 0
Corre-de-Pasco . .|.....|.coocfeeeed] 48%
L B « sihviiteliianilaiis 03&
Brie . « . +-. ] 1381 1334] 13%] 13
do. Ist pfd. .| 22%]| 21%] 204]| 22%
Endicott John . .[IOB [lO6 108 |105%
Pisk Bub. . . .« iBB 34% | 35%)| 35
ol TSN D l.s..laiciliiieidl 18
Gen. Xlee. ~ o ~]167 167 1187 |l6B
Gen. Motors . , .[244 [232%1242% /230
Good. Rub. . . ..| 67%] 64%| 67 65
Gt. Nor. pfd. . ..| 78 75 78 7514
at. l‘gr. Ore ~ ~| 36%] 36 5% 36
Gulf States St. . .| 60%] 68 59 56
B, OSBIPRE ¢ « ¢ JJesseslissastessssl 1858
Insp. Copper . , .| 62%] 51%| 62| 51
Ind, Alcohol . ..| 80%| 7TB%| 80 s
Int. Nickel . ~ ~| 20%| 203} 20%|-20
Int. Marvester . .|.....|...:.1i5...]118
Int. Paper . . . .| 73%| 70%| 73| 72
Key. Tire . . ; AN NN 27% "ni
K. OSo . . W] 30%1 18 16 87
Kelly Bpr. Tire , .[110%]10814111034(1 ;
K. C. 8o . . . 1681 18] 108 17%
\Kun. & Texas ~| 10 9 10 9%
it ———————————————
NEW YORK CURB STOCKS,
The market opened iregular and closed
frregular.
Stocks. o_ronod. Closed.
Aetna Exp. .... %@ 8% ™ 3
Anglo Am. Oil.. 26 826 25 26
Cons. Copper .. 4% 0& 4 5
Cosden Ofl .... S%@ 8 la 535
Houston Oil ... 80 @IOO 9 8102
Indiana Pipe .. 96 @ 98 95 98
inter Pete ..... 08§ 859 60 @g’
Magma ....... 33 37 34 z 8
Leh. Val. Coal. 82 zB7 82 87
Maroont ....... 4% 5 48 s
Mepritt Ofl ... fl& 18 l'l’& 18
Midwest Ofl .. 1 2 1 2
Midwest Ref. ..147 @l5O 150 152
North Am. Pulp 6% 5% 5%2 5%
Ohio Oil _,.....326 336 395 135
Prairie Oil .690 600 792 802
Sub. Boat ~ ~ 12%@ 13% 12%@ 14
£"S"N . _T. VY 385 183 1868
8 O N J. . 417 703 700 706
B. 0. Cal. , .307 311 308 312
8 0.-Ind. . .870 ?“0 672@082
Union 'X‘ln‘k 111 14 112 116
Victoria Ofl .. 1% 1% I%@ 1%
Cons. Ariz. . . % % ‘z %
Niplssing . .. 104 @ll 104 11
3& W& Oil, l‘;‘g 3-18 1% 3-18
Glen R. Ol ~ 3 Iy 3 3\’/2
18, O, & Tr. .. A%@ 6% A%@ 6
VEBR ..« DD 3 2%h@ 3
Bapulpa . . « ¢ U@ 6% h@ 5%
Car Light ..« %@ 2% 2%g 2%
Boone Ol . sevivtericeiinn 4% 4%
Brazos .« « «+ 18 @ 20 15 20
Salt Creek . .. 49 @6O 49@ 50
Allled Ol ....oeoevceivannnse .1: 11-18
AThflt vosns saiibnces iittecs TN 78
Elk Basin ....coo6ooooooooooo 3 @ 8§
GIUNAAA ......coi000000000:00 3§ @ 37
Int. PP ....coooovocoosooeee B 8
;;'rr FARS .ionteossopsistone ‘ 4‘
APIANA L ..ieeevciinnininans % 5
MeKINIeY .odecesscscncscsess 60 @ 68
NUNRAMNY cococsssssesadssces 39 @O 89
THNAE B iiiveersuseresiven SR B
POMMIEIE . iisisirrrnvscsssnce 0 @O &8
Phillips Pete. ....cvooovneesse 38 @ M&
DU . isevinriinassssiaie TN 8
BN . icissvvvaansansineriay INE 19
Bimms Pete. ....ooviooooooooo :l": 33%
Balt Creek .....coicoceeienne 49 50
T Te L %
Santa Ceeflla .00 cvvvvsses.s 68 80
Tob., Produets c.occccoveveves 18 19
U B ShiP c.covevsrecrsossons 2& besss
.80 P.OHAP. cocoverrcssstces 3 %
BoUme O ..i..istioaoooooooo. 8 B &9
l—————
DECLARES DIVIDEND,
The British American Tobaeco
Company has declared an interim
dividend of 6 per cent free of in
come tax payable March 31
e e e e
ST. LOUIS CASH GRAIN,
BT. LOUIS, Feb. 26.-—Corn: No, 4, 1.44
@1.46; No. 3 yellow, 1.48%; No. 3 white,
1.60@1.52,
Onts—No. 2 white, 90@91; No. 3 white,
9% @ 90.
SUNSHINE IRON &
STEEL CO.
Wholesale Dealers in Iron, Steel,
Metals and other Waste Mate
rials.
43 to 51 Magnolia St
Phone Ivy 7057,
| Correspondence Solicited.
WANTED
First-Class Bookkeeper
Must have some banking ex.
rrienoe. Apply in own
andwriting and give refer.
ences,
J. H. HILSMAN & CO.
Atlanta, Ga.
> Last |Prev.
STOCKS-— “'!.ELE“"‘ Sale |Cluse
& e
Kennecott . . ..| 28| 28 fla 28
Lack. Btesl . . .| 70 63 653%| 68
Lehigh Valley . .| 46%] 46 46%). ...
I I 8 5 o B! ofivrsa)ivass)inead] 39
Ta & N V' Joreodiveseee o jIOOB%
Max: Motors . o.icsssfesssslasisd] B 8
Mo, Pac. (new) ..| 28| 27 294 ( 29%
Mex. Petroleum . .]1723%]187 {l7O |167
MEMDS . L .. | OAS 0% 20%
do prd. . . . .| 82| THlp) R244| T
Mid. States Ofl ~ .| 20%| 28 28% | 28!
Miami Oopper o o) oyodf jas:] seoss] 83
Midvale SBteel . .| 44 4215 43 43 %
National Enamel .| 69 60}: 69 66 %
N. ¥. Central . . .| N 1 69 7 70
N. Y., N. H. & H. .| 34%/[ 34%] 3434 223'%
National Load . « o] vivs] sses] ooon] 18
Norf, & Weatern ..[ ....| ....[ ....| 80 1
Nor. Paocific . . . .] 76%] 76 7614) 76 |
N. Y, Ont. & Wst, | 19%]| 19 198%( ...,
Nev, Com, Copper .| 15 155 | 168} 15
N. Y. Airbrake . .| 96 93%| 96 0"
ORIS TP 8 NY. o] iasi] caoo] s:so] 8
Ohio Citiea Gas . . 41&‘ 407% nfz 1%
Pennsylvania . . .| 42 42 4235) 42%
Pierce-Arrow ~ . .| 63 50;2 653 b 0
Presscd Steel Oar .| 91 88 01| 88%
Pittsburg Coal . .| 64 B 4 64%] ...
)‘un-AH\, Pete. . .| 81 77 80%| 77
Pere Marquette ~.| 28 28% ] 28%]) 28
iaree OO v % . i aciiaat 1161 10%
Ray Consolidated .| 19 | 17%| 17%) 19%
Regding « .« .« + » 152 34| 75 73
Repub. 1. & Hteel .| 89 lln 88 RB4
Rock Island . . . .| 308/ 32 36 33
QOPI YA® . .| ssee] i o] TIIW
Ry. BSteel Bprings lz 90 90 89
Royal Dutch (new) : ’7& 98 96%
Sloss-Sheffield . .| 64%] 64 64 64
Strombery Carb. . .| 67 §7 57 56
Sou. Pacific . + .} 96 82 95% | 93%
Bou. Rallway .. .| 23 22 2311 22
do ptd, ... .:7 56 BT% “r
Studebaker .. . . aa loz LE 80
Bt. L, & Ban F. ..| 24 22 23%) 22y
Sinclalr Ol . . . .| 38%] 37 38%| 37%
Stutz Motor . . . .luza‘ 108 {1123%]108
BA L. .+ 8 0 Swi 7%
Swift %‘Oo (Int) ‘ I siralicinrl BN
Baxon Motor « « o of sooidiinis] csnd] 16
Tob. Products . .| 647%| 62%| 643 | 64%
Tenn. - Oopper « ] :.os] soge] soi] 10
Trans Cont. ON . .| 21| 20%| 21%) 21
Texas Ofl . o« o 1177 1171 1177 171
Texas Pacifie ~ . .| 36y 33 3683 33
United Fruit . . .|IBO [IBO |IBO 180
Union Pacifie . .[119%/116%/119%/118%
PR Ol 5 o it ibiissk il S9N
Unit. Food Prod, .| 67 56 % 5722 56
U. 8. Rubber . . .| 98%] 92&| 95 12y
ÜB. Steel . . . .| 95% 033 96%| 94
do pfd, . . . (110%[110% {llO4 110%
Unit. Retail ‘Stores |67 uzfl sex| oo
Utah Copper . . . 10& 68 7081 681
va.-Car, Chem. . .| 61 60 1% 614
Wabbth :»o4 s .01 381 8 ’a 9%
do pfd. "A" . . znfi 27 29 28
Western Union . .| 85 86 85 865
Wwillys-Overland ..| 24%] 22%/] 24 23
Westinghouse . ..| 60 "n b 0 494
White Motors . . .| 63%] 50 61 114
Wilson Pkg. 00. . o ....0 «ooil ouii] 68
e et
BONDS,
U. B. Liberty 3%5. |94.50/94.50194 50 94.50
do Ist 48, . o .|90.20[90.20/90.20{60.30
do 2d 48, . . .|89.00/89.90|89.90/59.90
do 3d 4%s . .192.50[92.50(92.50 92.54
do Ist 48 . .]91.10[91.10/91.10/91.3)
do 2d 4\&.. isk 4 virl i caal 2 v Y
do 4th 4%5. . .|90.50/00.50(90.50/90.64
do 6th 4!.. o fl.“‘t‘l.ll 97.56/97.64
do Oth SR o of 00l 00l cvaeiß7.B2
FRED W. COLE
FIRE INSURANCE
1014 Atlanta Trust Co., Bldg.
—————————————————
SEMI-ANNUAL STATEMENT :
For the six months ending December, 31, 1919, of the condition of the
- United States branch of the
Norwich Union Fire Insurance Society, Limited
OF NORWICH, ENGLAND,
Organized under the laws of the Kingdom of Great Britain, made to the
governor of the State of Georgia in pursuance of the laws of sald Swtg-
Rrincipal Office in United States—i 9 John Street, New York City,
N 3 i
I. CAPITAL STOCK. /
Nome.
: 1. ASSETS.
3. Stocks and bonds owned absolutely by the oom’uny:
B BERE Tl sy e Vige s be we s BRTINIDASN 5
“Market value (CRrried OU) ..... ... .os sos soe osee $5,396,688.50
6. Cash belonging to the company deposited In
B . i ek .ashih ue sx oI RTIG Y
S e B e cen mamimhace vea et sRN 5
Total cash items (carried out)... ... « «vs cress oo 514,704.27
8. Amount of agents’ balances not over three months due .. 742,781.37
9. Amount of interest actually due and accrued and unpald 38,852.19
11. All other assets, both real and personal, not included here
inbefore: Reinsurance due on pald losses ... ... «..es 42,616.80
Total assets of the company, actual cash market value. $4,735,003.13
111, LIABILITIES.
1 Touses Ao SNA UNPAIA ... o ssesis 1o se oo o 0 SIETIGTL
2. Gross losses in process of adjustment or in sus
pense, Including all reported and supposed
B 0 b isi ssi see wETECHEL Wb ba oF (x IOODEO
3. Losses resisted, including interest, cost and all
other expenses thereon ... «coov se os oo o 27.383.{1
4. Total amount of claims for 1088€8., .. so . oo 636,203.25
5. Deduct reinsurance thereon ... .. s+ oo oo +2 180,085.85
6. Net amount of unpaid losses (earried out) ... ... ..o «os $456,117.40
7. Amount of djvidends declared, but not yet due.. .. .. .. (e)
8, Dividends declared and remaining unpald or uncalled for (e)
10. The amount of reserve for reinSUrance ... ... «.+ =« 2,734,367.97
11. All other claims against the COMPANY ... coe oo oo e 150,072,156
13. Surplus beyond all Habilities .....ee see ses ses oos asee 1,304,635.61
16, Wolnl DB ... ./t aod sokiliias osd bin i iee bende MRS
V. INC.OMI DURING THE LAST 81X MONTHS OF THE YEAR 1919,
1. Amount, of cash premiums received ... s.. svs 000 +oo $2,196161.98
8. Received for Interest ... ... «ivise soe sse sos vee sns 78,365.67
1. Income received from all other sSources ... ... «es soves 218.76
5. American branches of foreign companies will please report
amount of remittances from Home Offiee during the six
SO o 5 cos o 5 bos 060 SoEbin S 0 ek ovs inh Al 95,114.81
6. Total income actually received during the last six months
B GEEE L . vl iiaes ais ek e ke BRI
V. EXPENDITURES DURING THE LAST SBIX MONTHS OF THE
YEAR 1919,
2. AOUIE 48 BN DRIE 0o hsv sbeun versen ses oo bbm. PERTICNGS
2. Cash dividends actually pald ..... ..e .vs sos sss oo (0)
8. Amount of expenses paid, including foes, salaries and
commissions to agents and officers of the company..
4. Pald for Btate, national and local taxes in this and 768,695.14
OthOr BERLOE .o cov cov 0006 soosss sos sss sos ssane
5. All other payments and expenditures ... ... ... v+ os 28,798.00
6. American branches of foreign companies will please report
amount sent to Home Offices during the last six
SRODEIE o 5 ove sne sus ooh BB GEARG was sus ses nale 23342707
ep——
Total expenditures Auring the iast six months of the
POUE IR 0888 o: oo ove sabues she wes oos osi e 8L8A5,001.00
Greatest amount {nsured In any one risk .. £75,000,00
Total amount of insurance outstanding .. 606,125,207.00
() Can not be anawered by United States branch, the subject being
entiraly within the provinee of the Home Office,
A copy of the act of incorporation, duly certified, 18 of file in the
office of the insurance commissioner
STATE OF NEW YORK--County of New York:
Personally appeared before the undersigned William Fare, who, being
dunly sworn, deposes and says that he ls the United States manager of the
Norwich Union Fire Insurance Soolety, Limited, and that the foregoing
statement Is oorrect and true, WILLIAM HARE, U 8. Manager.
Sworn to and subscribed before me this 24th day of February, 1620,
GEORGE H, WRAY,
Comminsioner of Deads for the Btate of Georgla.
Name of State Agent—AUG, WILKERSON.
Nume of Agent at Atlanta—~FßED W, COLE
NEW YORK, Febh. 26.—~Ernest A, Fair
child has sold his seat on the New York
Stoek Exchange for $95,000. The previous
transfer of a seat was at $93,000.
NEW YORK, Feb. 26.—Although
some stocks suffered declines at the
opening of the stock market today,
the list turned strong after the sta -t
and the gains of from fractions to 5
points were made.
Steel common yielded 1-2 to 98 3-4
pnd then rose te 94 5-8. Baldwin
Locomotive was prominent and after
falling to 104 1-2 rose to 106 1-2. Re
public Steel opened 8-8 lower at 88,
but quickiy rose to 89 3-4. Crucible
roge 2 1-4 to 194.
The early gains were not main
tained and before the end of the first
hour reactions were in order. On
the anouncement of an opening call
money rate of 10 per cent, further
selling appeared.
Steel common fell from 96 1-4 to
94 1-2 and Baldwin yielded from 107
to 105 1-4. Republle Steel dropped
1 3-4 from the high to 88 and Cru
cible fell over 4 points to 192 1-2.
General Motors roseé to 238 and
then yielded to 234 and Mexican Pe
troleum dropped from 171 to 167 3-4.
The rails were active in the final
trading. Baltimore and Ohio rose 2
points from the low to 36, and Read
ing over 2 points to 756 1-8. Steel
common held around its closing of
95 8-8. GCeneral Motors reacted 3
points from the higher to 241, Pan-
American Petroleum, after selling
up to above 81, dropped to 80 1-2 at
the = finish. Mexican Petroleum
closed at 170 3-4; Southern Pacific
95 5-4: Baldwin Locomotive 107 1-4;
Republic Steel 88 1-2; United States
Rubber 45 and American Woolen
120 7-8. |
The market elosed strong; gov
ernment bonds unchanged; railway
and other bonds strong. |
ot i |
METAL MARKET. |
NEW YORK, Feb. 26—Copper
quiet; spot, Februar yand March of
fered 19 1-4; April offered 19 3-4;
May and June offered 19 1.2,
Lead firm; spot, February and
March offered 9 3-8. \
Spelter easy; spot, Tlebruary,
March, April, May and June 880'@
8.95. . |
l BEARISH SENTIMENT AGAIN l
By BROADAN WALL.
NEW YOREK, Feb, 26 —BStocks closed active and weak at about low
prices Wednesdayv after a session of great nervousness. Report of the Re
publie Iron and Steel Company showing less than $1.560 a share earned for
1919, although it is paying dividends at the rate of $6, naturally caused
much speculation regarding what other independents would show, It i¥
known that the Lackawanna Steel will make a poor report, and Street
rumor magnified everything. On top of this, there was a meeting of the
Federal Reserve Board at Washington, which was followed by announce
ment that the Philadelphia and New York Reserve Bank had Increased the
rediscount rate on government certificates from 4% to 6 per cent. Wall
Street insisted that this meant another increase of the commercial redis
count rate. Call money opened at 7 per cent and went to 16 per cent at the
close,
Reduction of the dividends by sev-,
eral copper companies was in line
with bearish expectations.
In the last few minutes of trading
there were a few hundred shares of
short contracts covered but the rea!
speculative operators were still sell
ing waierever a firm spot could be
found in the market. These ipdivid
uals, it will be remembered, covercd
in the big break two weeksz ago ond
went long of the market believing
that the railroads were in for a big
rise. When the rails failed t> make
aay headway these traders =.ld out
and are now going short of tha mar
ket again. The jublic refusas to buy
because t is afraid o anoMme:s trap
like Republic Iror. The important
peopie have liquidatid rather freely
and are in no hurry to buy stoclks-—~—
at leart not undl sfter Dresident
Wilson signs the railroad bill,
DRAIN ON CASH RESOURCES,
Early In the day [t was evident
that money would go to higher rates
for it was difficult to secure accomn
modation, The fact that the first
payment of income taxes Is dus on
March 15 is making the banks care
ful about lending out their money for
they know there will be a nationwlide
drain on cash resources in a weck
or so,
Republic Iron and Steel was the
worst performer of the day, break
ing more than 9 points from its close
of the previous day and more than
12 points from the high point of the
preceding session. The idea of a
stock selling around 90 that is earn
ing less than 1 1-2 per cent appeals
to Wall Street as rather absurd, but,
at the same time traders are afraid
, Phone lvy 7139
ee e i
SEMI-ANNUAL STATEMENT .
For the six months ending December 31, %919, of the condition of the
OF PHILADELPHIA, . ‘
Organized under the laws of the State of Pennsylvania, made to the govs
ernor of the State of Georgia in pursuance of the laws of said State,
Principal Office—Third and Walnut Streets.
. CAPITAL STOCK. ‘
1. Whole amount of capital BtOCK. ..ees ses slo soe oea $760,000.00
5. Amotnt Pold UD 15 SR ... coonce 155 Ane ses AiE 750,000.00
1. ASSETS, .
3. Stocks and bonds owned absolutely by the company: ’ ;
* TP WRIBE s¢: ioi 2o sne dvens be on ss SR D. TRO
Market value (carried OUt) ..... see sve oos oos 00.. $8,606,262.00
5. Cash in the company's principal office .. .. .. SIOO.OO
6. Cash belonging to the company deposited in
DOAN .ot lih 235 vev wvi dvnirink Be o BN NN
7. Cash in hands of agents and in gourse of trans- -
PMOON cuv sk sag oo sun 2000 on bu bbb MLERLEY
TOA) coo 0060 060 Bes 600 ovcsens o 0 ba Be --‘7",1‘0.71
Total cash itoms (oarrled OUt) ... oid voe oo see 500 788,760.77
9. Amount of interest actually due and accrued and unpaid 49,353.39
10. Bills receivable, not matured, taken for fire, marine and
RIS DRIA ioc coo ssr sns sesa s sar ek Sae e ANE £OO.OO
11. All other assets, both real and personal, not included here
inbefore: Reinsurance recoverable on paid losses .. .. 2,633.33
e ———
Total assets of the company, actual cash market value., $4,497,3809.49
1. LIABILITIES. i
1. 208008 QUG and URDAIA ... .o ssos"da 0w s o 510.000.00
2. Gross losses in process of adjustment or in sus
pense, including all reported and supposed :
I ... sos sos v niniwnsad st & ¢ 3 R
3. Losses resisted, including interest, cost and all
other expenses thereon ... ...as os +o o« oo 897700
4. Total amount of claims for 108se8., .. .o +. .. 613,313.61
5. Deduct reinsurance thereon ... «v.. ee «s oo o+ 158,113.61 .
6. Net amount of unpaid losses (carried out) ... ... cee see $535,200:00
10. The amount of reserve for reinsSUrance ... ... s+ oss oo 1,672,762.40
11. All other claims against the COMPANY «.o coe oss s 126,263.46
Reserves for unpaid bills ...... «v oo oo «. $3,263.48
Reserves for federal and State taxes,, .. .. 110,000,00
Reserves for contingent commissions .. .. .. 12,000.00
12. Joint stock capital actually paid up In cash ... ..s soe 750,000.00
13, Surplus beyond all Habilitles ...... cle ose see see sees 1,514,503.88
e e e -
26. TOAI HABIBLION ..o cos ses 200 asssa sos sae wes sou vod s PRATENEEE
IV, INCOME DURING THE LAST SIX MONTHS OF THE YEAR 1919,
1. Amount of cash premiums received ... .ee see cos somss $1,851,140.44
8. Hoeooilved £or INTOIMEL .is sue sssdss o 6 ass 4e6 sse 809 93,454.09
4. Income received from all other sources: Profit on sale of
10GQOT ABBOLE ..o son sos Fesssvet Vo6 inek WEh abh dou 420.306
i o o et
6. Total income actually received during the last six
MODLAS IN ORER .os s besan sobsns sun #he ihd sos sions TR
V. EXPENDITURES DURING THE LAST SIX MONTHS OF THE
YEAR 1919,
1. AMount of 100008 PBIE Jve'sis isise s vos sVe secnd TIELUNREN
2. Cash dividends actually pald ..... ses sos avs oo ws 45,000.00
3. Amount of expenses paid, including fees, salaries and
commistions to agents and o'ficerg of the company .. 446,175.90
4. Puid for State, national and local taxes in this and other
BBEOE o' sin e ke 46, shston 4dh ek Lod wel sed 85,921.73
et
Totnl expenditures during the last six months of the
PONr 10 O i N 3 ai v obiy ik wer se ane asy s A
Greatest amount insured In any one rigk.. .. ..$75,000.00
A copy of the act of Mmrpomtlon. duly certitied, is of file in the ofs
fice of the insurance commissioner,
STATE OF GEORGIA-—~County of Fulton:
Personally appeared before the undersigned Robert N. Hughs, whe,
beinig duly sworn, doposes and says that he is the manager of the Alllance
Insurance Company, and that the foregoing statement is correct and true,
+ ROBERT N. HUGHS, Manager. _
Sworn to and subscribed before me this 26th day of February, 1930,
W. U, COTTON, Notary Publie. |
Name of State Agent-—-RICHARD N. CLARK, :
Name of Agent at Atlanta—FßED W, COLE
W?“ .a
to sell it short. The result i{s that
liquidation continued all day with
very little short selling to help the
technical tone of the stock,
The fact that the Central Leather
report showed that the company is
probably carrying in the neighbor
hood of $25,000,000 of finished ma
terials among its inventories was an
other depressing influence for it
seemed to confirm the charges of
profitecring. The company made 120
per cent more in 1919 than in 1918
but that is not consdered so bad by
Wall Street as is the fact that the
company seems to be carrying so
much finished material for which
there is a great demand on the part
of the publie.
Very naturally the opposition of
union labor to the railroad bill caused
some discouragement in the market.
This discouragement was the result
chiefly of the collapse of the bull
campaign n railroad stocks t
started so bravely a few days ke
The covering movement has left the
rails in a weaker condition than ever
and failure of President Wilson to
sign the Cummins bill would find
quick reflection in the stock market.
e e e St
NAVAL STORES.
SAVANNAH, Ga., Feb, 26.—~Mar
ket firm; regulars 192; sales 1850.
Rosin, market firm; W. W, 18.25; W.
G. 1790@18.00; N 17.70@17.76; M
17.60; - K 17.16@17.25; I 1700; H
16.90@16.95; G 16.80@16.90; F 16.70
@16.90; E 16.75@16.80; D 16.70@
16.80; B 16.00@16.10. Sales 6533,
Receipts: Spirits 27; rosin 48.
Shipments: Spirits 89; rosin 127.
Stocks: Spirits 7,097; rosin 32,653,