Atlanta Georgian. (Atlanta, Ga.) 1912-1939, March 12, 1920, Morning, Image 11

Atlanta Georgian., March 12, 1920, Morning, Image 11

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Newspaper Page Text“ New Crop Deliveries Lead Sharp Advance in Cotton, Due to Increased Demand—Securities Continue Upward Movement AN ® COTTON EXPORTS INCREASE; MERCHANT SEES HIGH PRICE .ls\tlant,:a bank clearings Thursday..... ... ... ....$10,918,808.18 am ) ) edaviasbyear ... ... . ... 1.8 .. ~ L (BB TRO . THODEARE. %.. .. .. es e e 53083 RN S 5 Same day last week ...... ........ 10,6563,703.26 Same day 1918 LR L O : CUreie needn es e 8,048,740.26 Atlanta colton statement Thursday: 20 1920. Last Week. 1913, 1918. il o T 1,505 832 1.650 ”»J.pments R 0 L. 880 698 618 1,623 ocles .. . ... 33023 32,288 25,378 54,269 " LI Atlanta spot cotton-Thursday. ................cv.00...41,500 I Bk duy b woek ..} ... ... ~ 000 Ss IS BRI e yor . o s e RIS G et R 8§ 8 8 By VICTOR BARRON. & In response to the rise in futureu. and increased demand from mills, adnta.spo.t cottoq advanced 20 points Thursday to 412 cents, basis goo rmd:?lmg. Th_ns represents a gain of !> cent since last Saturday and the 'hnlghest‘prlce ever officially posted here. . Rea‘hzmg trimmed the best quotations in the future contract mar gt during the afternoon, final prices at New York being 2 to 30 points higher than Wednesday’s close. x % . The feature !n the cotton market Thursday was an increasing demand for new crop deliveries, with all options rising to new high marks for the present movement. Part of this buying was attributed to the sharp rise ; in demand sterling, continued unfavorable weather in W it the South, broad discount of new crop positions under )9(""{;?% ¥ near months and vigorous rise in securities. At the s‘Wg& & opening futures at New York were 5 to 30 points §ﬂm§;zw§m higher, while the list at New Orleans showed a net gain %»yﬁg@)&;f‘hj‘ %4 of 2to 22 points. Immediately, after’ the call demand ;%%;!%%%& ¢ increased, coming from all directions, especially shorts, 4-.;:;;5,,\ g S ® dometic trade houses and the "South. Liverpool was *qu;;? reported a heavy buyer of October. Offerings were "‘zﬁ light, the bulk of selling being of nearby months, one “z‘g“ fy,u o ";i; large firm turning loose 10,000 May and July. Under g‘v;:-;_,;:é.g;: ‘ this buying futures at New York rose to a net gain of eey 30 to 64 points during the first hour and a half of trad e ing, with October reaching 31.80, December 31 cents e e and January 80.45. March advanced to 39.75, May 36.63 \% o and July 34.04. At the highest futures at New Orleans R exhibited a net gain of 22 to 65 points, with March {Yﬁv‘ 7&8 SUE reaching 29.70 and October 81.55. Another stimulating b v'".;‘i ™ item was further large exports, the Pacific coast clearing Tg % W 11,574 bales for Japan and China. Exports for the weex promise to be heavier than for the last several weeks, the outgo up to Wednesday night totaling 129,142 bales thus far this week. 'This com pares with 145,000 bales exported for the entire week a year ago. Exports since the beginning of the season now total (to Wednesday night) 4,638,710 bales, as compared with 3,288,000 bales up to and including March 15, 1919, a gain of 1,850,710 bale. . & A TNY R R-AP PP | TS SRy The upward movement In sterling exchange, and which generally is ex pected to show further marked im provement owing to the ‘movement of millions of dollars in gold to this country, is considered decidedly bull ish on both cotten and 'securities. News from domestic goods markets continues bullish, and leading*whole galers report record demand for all | merchandise.” . ] The census report on cotton con sumption during February, which probably will be lssued next Monday, is expected to be bullish and Twill compare with 433,516 bales consumed during the same month a year ago. Active spindles in February a year ago totaled 33,282,593. Domestic mills need 591,726 bales during January last, when 34,739,071 spindles were humming. Consumption for six months ended January 31 last totaled A THREE DAYS’ Chronic Coughs and Per sistent Colds Lead to Pneumonia and Serious Lung Troubles. You Can Stop Them Now With Mreomulsion, an Emulsi fied Creosote That Is Pleasant to Take. A New Medical Discovery With Twofold Action. Soothes and Heals the Inflamed Surface and Kills the Germ. Endorsed By Highest Authorities. Money Refunded If Any Cough or Cold, No Matter How Long Standing, Is Not Relieved After Tak ing According to Direc tions. ‘ *TNF WOR BUILDING UP THE SYSTEM AFT "R COI.DS OR THE 71. U. Of all! known drugs, Creosote {8 recoznized by the medical fraternity as the greatest healing agency for the treatment of chronic coughs and colds and other forms of throat and lung troubles. Creomulsion contalins, in addition to creosote, other healing elements which soothe and heal the inflamed membrane and stop the irri ration and inflammation, while the oretsote goes on to the stomach, is ahsorbed into the blood, attacks the geat of the trouble and destroys the germs that lead to consumption. Creomulsion is guaranteed satisfac tory in the treatment of chronic coughs and coldg, bronchial asthma, eatarrhal bronchitis and other forms of throat and lung diseases, and is excellent for building up the system after colds or the flu. Increases ap petite and bodyweight. Ask your druggist.—Adv. THE GEORGIAN'S PAGE OF MARKETS AND FINANCIALNEWS 3,143,201 bales, as compared with 2,053,664 bales the previous corre sponding period. Consumption for seven months ended February 28, 1919, totaled 3,387,000 bales. | Exports for February, while prob | ably sharply less than in January, ' when a record breaking total of 929,- ]671 bales was exported, will show a substantial gain over the same month a year ago, when 449,623 bales were gent abroad. e Condition surrounding the cotton market daily are becoming stronger, despite apparently easier technical conditions. Sentiment lis distinctly bullish and much higher prices are expected. Ome Atlanta leading dry goods merchant who is well inform ed on the cotton situation expresses the belief that cotton will sell ma terially higher. In fact, he confi dently expects the staple to bring decidedly more than 50 cents a pound before season is over. “With mills receiving such record prices for goods and marking prices higher still—fall prices of goods will be considerably higher than present quotations—together with indica tions of a small crop, I believe that the 1920 crop will bring the South thled greatest return in history,” he sald. Atlanta spot cotton was marked up to 41.30 cents Wednesday—the highest price of a generation. Ex pressed in dollars and cents this means that each standard bale—soo pounds—of basis good middling, brought a record price of more than $206. While total sales of cotton are not officially reported here, lt‘ is conservative to estimate that about 1.000 bales echanged hands| here Wednesday at the record price. Based on this caloulation the day's . turnover brought approxi-l mately $206,000. | NEW YORK PRODUCE MARKET. | NEW YORK, March 11.-—Petroleum, firm; crude Pennsylvania, 6.10. | Turpentine—Firmer, :.oh. ‘ Wool—Firm; domestic fleece, XX Ohlo, 62@1.00; domestic pulled scoured ,basis, 76@1.70; domestic Tevas scoured basis, 1.00@1.75. Hides—Bteady; native steers, 35@37%: branded steers offered, 31. | Coffes—Weak; ;?uonl opened 30 to 36 points lower; Rio No. 7, on spot, 15%. | Rice—Firm; domestio, !%.51‘%. | Molasses—Active; New Orleans open ket tle, 1.02@1.12; black strap 26. nrz.;w Sugar—Weak; centrifugals, 11.00@ “%elf‘(nod Sugar—Wealk; fine granulated, Dried Fruits—Steady; apricots, cholce to fancy, 29@37; apples, evaporated, prime to fancy, 14@26%; prunes, 30s to 60s, 16@ 23; 60s to 100 s, 10%014%’_: peaches, choice to fancy, 20@25; seeded Talsins, choice to fancy, 21@29%. BUTTER, POULTRY AND EGGS. NEW YORK, March 11.—Poultry, dressed, unchanged. Live ' poultry, irregular; chickens, 23@ 26; turkeys, 40?45: fowls, 40@42. Butter market, firm; creamery extras, esgu%; firsts, 64@68; higher scoring, 671@70%: State dalry tubs, 44@868; reno the‘:c extras, 63@64; Imitation creamery, gwese market, firm; State whole, milk specials, 29%?30%: fancy, 32@33; State skims, speicals, 17@21; choice, 13?16; fair to good, 10@12; lower grades, O’-] Eggs, market quiet; nearby white fancy, 63@54; brown fancy, 652@53; extra, 47@ | 48; firsts, 44@45. j s iby | CHICAGO LIVE STOCK. i CHICAGO, March 11.—Hogs: Receipts, $2,000; market, slow. / Bulk, 14.38@16.50; top, 15.60; heavy weight, 13.85@14.85; medium welgnt, 14.60@15.60; light weight, 15.20@15.80; light lights 14.25@15.50; heavy packing sows, smooth, 12.75@13.35; packing sows, rough, 12.00@12.65; pigs, 13.25@14.50. Cattle—Recsints, 14,000; market, slow and steady to 26c lower, Beef steers, me- Alum and heavy weight, 13.85@14.55; cholce and. prime, 13.85@15.76; medium and good, 11.75®@13.85; good and choice, 12.60@15.00; common and medium, 9504 12.80: butcher cattla, helfers, 7.36@13.75: cows, 7.10@12.60; bulls, 6.75@10.75; can nera and cuters, cows and heifers, 4.75@ 7.00; canner steers, 6.00@7.50; veal calves, light and handy weight, 15.60@17.00; feed er steers, 8.75@12,00; stocker steers, 7.25@ 10 75: stocker cows and heifers, 7.00@9.25; stocker calves, 7.75@11.00. " Shéep—Recelpts, 12,000. TLambs, 84 Ibs, down, 17.25®19.90; lambs, culls and. com ‘mon, 14.00@17.00; yearling wethers, 1500 @18.00; ewas, 6.00@10.75; breeding ewes, 15.76©17.00. | - NEW YORK, ‘March Il.—Late months led in an advance of 5 to 32 l points at the opening of the cotton market today. Profit faking later depressed the list about 10 points from the top on old erop months, but failed tc affect the new deliveries, which remained strong during the. first twenty minutes at a net ad vance of about 28 points. The big rise in sterling exchange was a stim ulating factor. ' Under a wave of active buying by shorts, trade houses and spot firms, the market rose to new high marks ifor the present mogement during the } late foremoon, with distant months in heaviest demand. October rose to 31 and December to 31 cents. March advanced to 39.75. During the after noon the market reacted from the high levels on increased offerings, chiefly profit taking. At the close the market was steady at a net gain of 2 to 30 points. Spot cotton was officially quoted unchanged at 41 cents. _____ NEW YORK COTTON. f | l lLastl | Prev. _____|OpeniHigh| Low| Sale| Close | Close Mar. }39.66!39.75'39.50’39.50'39.50 J 39.45-50 May [36.35/36.63(36.30/36.53/36.53-56(36.27 July [33.80/34.03/33.65/33.80/33.77-80/33.75-77 Oct. ).’n.45i31.80L31.45|31.57‘31.55-58|3L25 Dec. [30.60131.00/30.60/30.60]30.60 Hao.xs-:ﬁ Jan. [30.25(80.45(30.12[30.17/30.17 _ [29.95 Closed steady. —_NEW ORLEANS COTTON. | | ‘ ,Last% ‘ Prev. | ____lOpen|High| Low| Sale]_Close | Close _ { Mar, [39.50(39.70(39.60(39.50/39.50 |39.48-50 | May' |36.9637.26|36.85)36.97|36.96-98/36.82-85 | July |34:15/34.4534.12/34.26/34.25-26/33.99406 | Oct. [31.25/31.5631.20/31.32/31.30-32/31.03-10 | Dec. 30.70'3&90{30.55.30.60 30.56-60/30.36-40 Jan. [30.16/30.16]29.97/30.05[30.00 [29.85 1 Closed steady. | it i T ' AMERICAN EXCHANGE. l Following were ruling prices on the Anjerican Cotton and Grain Exchange Inc. { Thursday: ’ ‘ | | ‘Prev. Open|High!Low|Close!Close falurel ~ T, 0. (8960 .’!9,65[‘39.50’39‘50 39.50 | May .. «s .. ..|36.35/36.50{36.42|36.53|36.26 tJuly e s e+ ..|33.80/34.03133.65/33.77|338.75 LOCL. oy oo wie.5.|31.451831,76]31.46/31.66/31.26 Deo. X ~ .. . |3O/53]80c86 30.53]30.60!30.35 LIVERPOOL COTTON. LIVERPOOL, March 11.—Spots opened quiet. Prices steady. Sales, 4,000 bales. American middling, faiv, 33.10; good middling, 30.10; full middling, 29.10; middling, 28.10; léw, 24.80; good ordinary, 21.60; ordinary, 20.60. Lntines opebed quieh €. I. ‘ 2:00 | lPrev. i JODRGEE: 1. \Cve|Cldse Mavoh o 0 G 0 aO, 06, 45]08 .01 LApEL o s o B e(A TRias 38 |My it o, 24.851.....'24.36}24496 jJune .. .. . .. [24.73 ,‘...!24.37‘24.50 JUy i .. e« .. |23.97|28.98(23.38124.04 tAugust e A ....;..4‘.!23.03|23.46 September .. .. .+ 1....0.....|22.80/22.82 | Ootober &, oo oo ..[22.12122.12/22.41/22.21 | November .. .. .. ]2l .64l ....|21.96121.73 December ;. .. .. [21.27].... ~21,56121 .36 | January .. .. .. .Jj20.99.....121.26/21.08 lFebruary Thioaada, I Aes s .;021.02:22_._52 I, SPOT COTTON. | Atlanta Commercial Exchange aquotes | basis good middling ...............41.50¢ | New York middling ...............41.00¢ }New Orleans middling (sales 2,062)..40.75¢ Savannah middling ................40.00c ‘ Liverpoo! good middiing ...........30.10d Nerfail HRAGHNRE ... .. eoiiieisan 008 Aupunte MIAAINE .. iiiiiiisiiases 40,008 Houston middling .......ca0000.+...40.50¢ i Philadelphia middling .........5...40.76¢c {Boston MIARINE ... .cccvvvnpeshh. 8070 { Charleston middling ...............40.00¢ | Wilmington middling ..............39.00¢ | Memphis middlng .. ......ovueree..4o.oo¢ Bt. Louis mlrldlgng e ssaadss i 1 BREDE Bt. Louls middlHng .....ce5u004000.39.26¢ Montgomery middling .............39.26¢c Little Rock middling ......¢........39.60c Galveston middlng ..........0v5...42.25¢ Dallah MIGRIINE ... «s%-vessserss 15800 | ATLANTA COTTON DIFFERENCES, (Atlanta Official Grade Differences, U. 8, Government Standards.) MIAAURE PRIP ... i vniusssssasnserßßblon Strict good middling ...............2756 on Good MIAAHNE .....oovsvrsrsisees2oo On MIBALURE ... i ivarvevsnnssans v DIREIA Strict low middlNg ......c0u0:.0...300 off Low midaNRE ..\l . ... csdniones 700 off Yellow Tinged. Good mIAAINE ......c..civoeeerss 350 off Strict midAMAE .......c:i5000044+.380 OFf Yellow Stained. GOOB MIAANNE ....sveievisiifre---500 001 COTTON SEED OIT. Cotton seed oil quotations: ARSI, o T ¢k et ek |” Opening. | Closing. March .. v .« ..r‘n.mnzo.zﬁnmn@n.m APril <i s WY e 19.50@20.26119.35@ 20.00 MBY .. ié'ss =i 120.35@ 20,45(21.20@21.23 TUNG .. vs oo o+ |20.30@20.75/20,25 @ 20,75 JUly. . cereeiiny 20.82@20.87!20.50@ 20.53 August: .. ... 44 21.13321.25’20.70@20}0 September .. .. (21.10@21.26 20.50@20.80 October.. .. .. |19.00@19.26/19.27@20.70 Closed irregular; sales 23,800, et R e aiotormriiifiion CHICAGO PRODUCE MARKFT. CHIOAGO, March 11.—Butter: Receipts, 2,181 tubs; creamery, 681; firsts, 63@ 87%: seconds, 62@58; wstandards, 67%; packing stock, 33@3%. Eggs: Recelpts, 12,428 cases; miscellan eous, 41@42; held firsts, sw‘; firats, 4222; refrigerated, 25@37; dirties 38@38%; dalses, 20&030%. Chese: ins, new, unchanged. Tive Poultry: Turkeys, 40; chickens, 40; springs, 139; roosters, 26; stags,. 33; geese, 22; ducks, 38. Potatoes: Receipts, 40 cars; M.Pnasom. Dakota, Ohio and Wisconsin, b.20@6.50. e S it Al ysats ATLANTA COTTON SEED PRODUCTS, Description— Price, Crude oil, basis prime (tank 10t5)..518.25 Cotton seed meal cakes......(not quoted) Cot. seed meal, 7 p. c. (100 ton lots). 66.50 Georgia, common 1. D. (100 ton lots) 65.50 Cotton seed hulls, sacked (car lots 17.00 Cotton seed hulls, loose (car lots).. 13.00 Linters, No. 1 (lots) .........¢06.. .10 Linters, No. 2 (10t8) ......ovovvivs .06 Linters, No. 8 (Jots) ...........0.. 03 el ————— METAL MARKET, NEW YORK, March 11.—Metal prices: Copper quiet. Bpot and March, offered 18%; Aprll offered 18%; May and June offered 18%, Lead quiet. Bpot, March, April and May 91, @9%. %pe\ter firm. Bpot, March, April, May and June 8.75@8.90. ‘ e e &7, LOUIS LIVE STOCK MARKET, BT. LOUIS, March 11.—Cattle: Receipts, 2,100; market, steady. Native heef steers, 10.50@13.50; yearling beef steers and heif ers, 10.00@13.00; cows, 9.76@10.75; gtock r and fesders, 9.00@10.75; calves, 15.50@ ;C.M)' cutters, 4.76@6.75. Hégs—Receipts, 132,000; market, steady to higher, Mixed and butchers, 15.26 15.80; {om‘l. 14.25@14.85; rough, Hm 12.76; llghts, 15.35@15.60; pigs, 12 @ 16.25; bulk, 16.25@15.65. Sheep—Receipts, 500; market, steady, Ewes, 13.75@14.00; canners and choppers, 8.50@9.00; lambs, 19.00@19.50. . JACKSONVILLE LIVE STOCK. _Hogs, receipts. medium; prospscta. steady; choice heavy, 13.76 to 14.25; gond heavy, 13.76 to 14.00; roufh heavy, 12.50 to 13.26; lights, 12,75 to 13.25; heavy pigs, 1176 to 12.25; light pigs, 10.50 to 12.00. Cattle, receipts, light; prospects steady; steers, 6.756 to 11.00; bulls, 550 to 7.50¢ yewmn, 560 ta 7.00; cows, 5.60 to 7.60; ve palves’ 7.50 to 11.00; canners, 3.50 up.~~Willjamson and Dennis, March 10. New York Stock Market eavy. Market closed heavy : 491,700 skares. 1 1 ) Stock sales, 1, : 8 sll’2B4’oo ; ev. S ge, ! hilow | Sade |Glom High| Low & oo s ] Allis-Chal §e il 2014| 20% Tial 27% Am"gine " "1 2% 2Th Sl 54 . gow . -+ 413 i uan A s Sug. . - 4’.’§! :8",4 1:0% 140 Am. B e 1 AG b il el A, * il e ] & AR Socoms. . %} ikl 18] Am, e bt .8 A Bawre . . | 3%%:;132 ‘132 8554 1B S R Am, S“l"& Tel. ‘l3l 127% 123 831 Am. 29 solen . .. lxa% 82 83%1155% Am Linsesa | .. ssila i nrae ARyl 3y 08 (1057 MW a L SR e Am.déi‘ DEa 0L }'Gsi"élzgiw a(’iz‘z' ’q% r S Lhr el 51 e 62 ee b olil 8% Gt Bl oh 48 |4B ‘s% 45 Am. ’l‘? . &t 467 46% ‘B’/6 98 Am, lcg . Paper. \“% 9 Y Am. W”t'Corp, ..|IOO Rl% Am. Igtt.eel R ahere lieny Sl A Alloy old .*o| 60 | 85° S s R e B 83%11;“:‘1”:‘; Atc L 1% B 8 e 2 K Al K s B'&oﬂh-"'u%”%z, 918, Booth l-‘im" Lilgt 92 921, 147 Beth. Moel wgn T el 275 Beth. ‘;‘le. e2B 27%| u‘%' 10 B. R. b el 40 Butte G- &7|sl el | 1 Bu BRI ----""""-26% ORIIE Py "é{;'%,llzﬁwll"’”f'lu% Calif. -Pa il 'lss% 58%| 58% i), cnn& Poalcl‘.io ssv aey 40%| ‘g:ﬂ :g'&] 101, 8 hsone 4 604 & a e B J ;f‘l:’ gé%lt 3%325 353 /Qo prd. . | 811 o Copper .. 4 32221 8411 !5%3 914, oy e 1% | i e ‘?3?;, %‘;‘:d- il ‘ 2‘7%‘ 3;:2" ;‘;’22, 463, Gs e 1 Sl S vl it £ 981 6 “übai N b Cast Lran, relepla . 232 ,{zig% 3% 3@'(2 Gai. Orat’ TR |s| S 5 19w 155 ‘C°"’“"‘-~‘ B%| 18% Sk i s Motor . jugß [ s e BT el sl Rl ’(‘or;e‘(g‘(:m o !}]s, 15% e T Ssk 14 43 ol 24 24’/‘1 0151108 " Erie . Ist pfd. .| 7%1106%|107% %0 | do-!t Jotn .llgll!' 80 ‘ sol} 3814 indicott-John. | R e eit ‘ 38%} 3?'_,,.,..!133% 1?:1‘( }‘E»‘u“i' Bth: "iiéii{ll"g ’;g:%isn ki .2R 31 ¥ Gen Mt T ity Gen. Mm;h' vy 815 805! 1 | six Good. e w 4] 39 | 394 §7 eey 7 S e Gt I\g: (;’;teel A 70 i ;} }“% ;G“" g = Ath N e ley dvingl 1 | &W . e 9314 Groone-Cananen | Ban hn \(;ﬁee%’en(ﬂ;] W ! 568 ] 66 ti :g‘“ 85 G Ind. A_k:el Yy 22%,””."__..‘[1“ Int. ;\{’;‘rveuter i gz%T 30%| :;;t' 3ty 14t Paper ... 4014 3941 3 1208 int, o 41122% 1237 Key. Tire T .l!23'¢-4123%‘ 74%{ 78 Kelly sm& l'f‘" oo Ta%l T Lack, Stéel . . Increased Prices. Not Result of . Higher Cott on Labor and’ overhead expenses are the main factors contributing to the present-day prices of cotton goods, rather than the advances on raw cot ton, is the opinion of Orvis Brothers & Co., commenting on the outlook for cotton goods, which they term ex tremely promizing on the whole. “The American public is a good buyer and collections are satisfac tory,” their article reads, and goes on to say: ‘Stocks are below normal everywhere. The mill, the jobber, the retail merchant and the clothing manufacturer have, during the war, disposed of all surplus holdings, and while there seems to be actual shortage in but few lines, everybody appears anxious to secure more goods. Production is on the increase, and the efforts of American manu facturers to secure a larger export business, coupled with a growing home consumption, will see American mills running to the full capacity that labor will be able to supply. “Bvery housewife buying plece Qoods. every man buying a shirt, ffows that prices are high, but ac tually this has little to do with the price of cotton. A shirt weighs but a few ounces. If cotton has gone up 26 cents a pound, the cotton in that ghirt costs only a few cents more, Still, the $1.50 shirt now costs $3. T.abor and overhead expenses are the factors which created the prices that stagger the average buyer in the re tail store. It is well known that cot ton goods are belng sold my the milis at prices that yleld 30 cents and more pn&lt on the pound of cotton con sumed. Manufacturers used to say their profit was wiped out by an ad vante of 5 cents a pound for raw cot ton. They are not complaining on any such score now. “Whatever point of view may be taken, it seems assured that the world will readily take all the cotton goods that can be supplied for sev eral years to come.” 1t is pointed out that the pamphlet in which this article appears was written early in December, 1919, aif {‘lculties in connection with printing aving delayed its publication. NEW YOR KSUGAR MARKET. Sugar quotations: Closing. Mey .. +a Vs 54 54 4 he i ~10.50@10.65 TURE .ieye e v S 0 SO, 60 JUIY . st aei ke N ..10.30@10.40 AUEOIE. . e beesiies e ..13,.06@13.48 September .. .. .. .. o 2 e .. 16.35@16.45 st PINANCIAL BUREAU ON STOCKS. NEW YORK, March 11--Bignificance is attached to the strength in coppers Wednesday and some hellevea this was due to knowledge that Germany has been heavy buyr of metal. Intrest Is attached to indiecations that leading banks haye changed their position and are in favbr of promoting more bank accommodations for Wall strest purposes, Banking in terests generally meem to put most con fidence in the outlook for the hetter class of rallroad stocks, with New York Cen tral, Reading and Routhern Pacific men tloned. Buying of Corn Products is sald to have coms from one of strongest in terests in the street and higher prices are peedicted. CHAIN RTORE, EARNINGS. MeCRORY STORES CORPORATION, MeCrory Stores Corporation reports sales ax follows: Month of January, 1920, $28.216; 1919, $686,49%: per cent {ncrease, 78265, JONES RROTHERS TEA ('O, TNC, Jones Brothers Tea Company, Ine., re ports the store sales as followa: Month of January, 1920, $1.511 444; 1919, $1.145,774; increase, 3165670, 8, 8 KRERGE COMPANY 8 B Kresge Company reports sales as follown: Month of FPehruary, 1020, $2.074.033; 1919, $2.632.085; per cent increase, 1285, Year to date, 1020 $4,025618; 1919, §5,- 248,644; per cent inorease, 14.34. o 5 ILut ‘Prev, T STOCKS— &Hixhl Low Salfv Close 3. 0. B 8, 18 |lB ] 19X 00 B, 1 18, [MIB | % Ken & Tex: . . . ll)%ll 10%[]10%{;:;; anigh val, R | Kennecott o ‘“‘a’ml;xh\dﬁ%txﬁb; g & Nush. , . . 110! Mtnxwen Motors .| :y_w,q z"oag.l ;(‘)) ] zgl/g Mqg. Pac. (new) ..| 30l he s ‘lﬂ Mgx. Petroleum .‘191% el Sl 500 Marine . , s. . ;!;’% él = 205 iadis o tes Ol l 39 ’37%* 38 | 34% Middle States Oil .| 3 = 2'354,‘ 2wl 83 Miami C?per v o) 23% 4..5/ h i Midvale Bteel . s AB% 1 4T% AO% | National Conduit .| PREETEI R wmon{n trat .01l 8 (16 | 76% N. ¥. Central . . .4 7 i !‘N. YN B%M 3(‘!'% %gz: gg% Sgh INatlonal lead , . . gs s sanl 99 { Norf. & Waestern . 2 {”% 1 3 Nor, Pacific ... !‘%,”1 2.1 314 Nev. g, Ompees.| 15 a 8 180 48 Nev. Con. Co 1 16 i?\'.e‘Y. Airbrzk%q .‘\lo4 1}03% 10615 10!53% Okla. Pro, Yool wonal soia] ains Ohio Cities Gas‘ Lo 46%| 0% 46%1 ;g‘é Pennayivania .| 34| i¥s| 4] 43 ennsylvan il | 43 L Pierce-:rrosw ditt 64%| 61 | 643 :2»5/: Punta A. Sug: oo aait] aaeidibas People's Gas i . )S‘Al 9815 9815 2215 Pittaburg Coll « .| o] o waey i Pullman Co. . . ‘“1;"‘11;; 1;2% v 95% Pan-Am. Pete. . 90%. PR 14118441 Pere Marquette . . 39% o % 3 Pieree DU AR Ry il s Ray Consolidated .| 19% “‘: Mkl say Rerding . . . v & lg% S seit! wsit Repub. T. & Steel .| 87 Sl a 2 Rock Island . e 398 3ris do p:d.s"A_n‘s. Rk i ke i Ry. Bteel Spri b S . Royal Dutch (new) ‘102"% g'!;&. lxgg::uoo,‘ Savage Arms . . l 671 q%‘ Alote eRT T T Sloss-Sheffie Gier T L o 6 Stromberg Carb. . '-‘Il!(/. 1862,2 ‘gg% o Bou. Paeific . . . . 15‘:6 4| sl a 8 Sou. Rallway . . . 38%! Sl i ke 1 | 958 87 | 948 Studebaker ... . . %l 80 wl6 Bhell. Trans. . . . 2080 30wl 24| 24n Bt, 1.. & Ban F... . . ui el 41 Sinclair Oil* .. e % L IBtutz lMotor oL W asY 188 AT R e T e R | 8 ey i R 3 { saxon Motor . . . ‘lg% ‘l‘g% ég& :7% Tob. Products . . ?1% Rai b e Tenn. Copper . . . il BoR 2wl dekt | Trans-Cont. Oil . . 2521‘2 isanlisr 2liea Texas O ¢ o v & oo l'es %! alat Texas Pacific . . . 18515184 1 185 % |2OO United Pruit . . A ‘Umon Pacific . . . 1?5 33%1 Sinl33% Unie™ Food Prod. || 69%| 6814 69% 871, nit, 5l IU. 8. %übll)ter éo. . 108%‘106%4'107. . 12:'/: iU, 8. ealty sl ” 4,5 1O Soßet ¢ ssl Unit. Retail Stores |77 77?;% :‘_2% "75;‘, Utah Copper .. . ;7(13% “ d, 01 Va. -Car. Chem. . . . Rul 'Vunudi;:m e o e pf'%.‘ ;"A"' Lo 20%) 200 ) 20 ) 28y Western Unfon . .} ....0 ...l .00 & Willys-Overland . . gg% gg% gg% 6;5‘ Westinghouse .. . d Sk‘,ﬁ £ 4 White Motors . . .| 69% a 3 Wilson Pkg. Co. . . .::_[ BONDS, S . S Liberty 3%5. |96.20/90.16/06.16]96.06 R aoﬁ'rol:o.so 0. 6019060 ae 58/89. do 2d 4s. . . |89.58(89.58 lg.w 0 do dat 4% o Ila1dolat.00(01:00(91 22 b -} 44;'4‘: . 1]89.98/88.08 n.n\s’.?z do fih dun . cßndpe e iaen ) so Sih Sace | [97:0/97.36/97 3697, 40 l “h0am:m....n..1';’1% ; Call Money . . . . 1T b ‘____.__—._————-I WASHINGTON, March 11.—Rain may be expected tonight and Friday east of the Mississippi River. Temperatures wllll remain high, except that they will be fali ing during Friday in the lower Ohio Valley and Western Tennessee. Forecast by States: Georgla—Cloudy tonight and Friday; probably rain. North Carolina—Cloudy tonight and Fri day; probably rain; warmer tonight in central and southwest portions. South Carolina-—Cloudy tonight and Fri day; probably rain; warmer tonight in central and southwest portions ° Florida—Fair tonight and ¥Friday, ex cept probably rafn in north pertion, Extreme Northwest Florida—Probably rain tonight and Friday. Alabama—Probably raln tonight and Friday. Mississippi—Probably rain tonight and Priday; colder Friday in north portion. Tennessee—Rain tonight and probably Friday; colder Friday in west portion. Louisiana—Probably rain in nerth and fair in south portions tonight and Friday; colder in north portion Friday; light to moderate south winds on coast, Touisiana—Friday, unsettled; probably rain in north; cooler. Arkansas and Oklahoma—Fair and colder. East Texas, North and South—Cloudy, cooler, except Friday; fair, cooler. West Texas—North and South: Fair, colder; freezing in Panhandle. Friday, falr. Chandler Motor May s, . . Declare Big Dividend NEW YORK, March 11.-—lt was learned Thursday that the management of the Chandler Motor Company now has uTiPl' consideration the declaration of a 33 1-32 per cent stock dividend. According to those in close touch with the company's affalrs this action will probahly he taken in May or Juns. This has heen made possible through the recent stock tax decision. RAILROAD EARNINGS. ‘ Ratlroad earnings as reported to the Intarstate Commerce Commission follow: GREAT NORTHERN, 1920, 1919. January gross .....$10,151,925 $8,874,400 Balance after tax... 1,609,409 936,707 Net oper-un; income 1,804,341 924,968 ERI RA!LROAD’ngﬂ'EM."" January ,'rou 8}.0101.2" $7,777.8%7 Deficit after taxes. . 470,680 602,378 Net operating deficit 576,635 673,686 NORTHERN PACIFIC, 1920, 1019, January gross ..... $9,451,063 §7,934 352 PBalance after tax .. 2,007,753 1,444 647 Net operating income 2,384,480 1,670,608 PHILADELPHIA AND READING. 1920. 1919, January gross ...... $6,931,822 §5.860,981 Balance after taxes. 461,008 * 52,717 Net operating income 274,269 *357,644 + *Deficit. CITIES SERVICE QUOTATIONS. (Quetations P]‘nrﬁlah«l by Atlsnu) Office Henry L. Doherty Company. m. Ask. Citles xrvlce NP i 2 g 72 Cities rvice Deb, “00"......100% @lO3 Cities Bervice Bankers shares. 40 z 41 Cities Bervice c0mm0n.......382 402 | Empire Gas and Tuel pfd.... 88 1 Cities Bervice Deb. “D"...... 100 NEW YORK COFFEE MARKET, Coffee quotations: Closing JOBURPY (v & v ieer seias i HLETT43D MEFOM o o co s 5 a 0 4r 4s . 14.70014.05 RIS Ju L bRk e W L 14.32@14.35 RERE . iovs B hs oy iR STEERE A% TURG .y iv e detas ee wn 0 INSRENTE B 8 JUIY .. ioias in 0 ws LIARR@I4.7O AUBUSL .. s 4c 40 v GIOO Boptember . oo o 0 o 8 ne 1o oill 478141. OMONIY .. v veimv biioh bolooß TN 8T Novermnßer .. .. .. o 4 od o4+, 1448014.48 December . . Lo e 100014 00 NEW YORK BANK CLEARINGS. NEW YORK, March 11.—New York clearing house exchanges Wednesaay were $827,625.981. B. ¥. GOODRICH. 3 Stockholders of the B F. Goodrich Campany at a special meeting Monday voted to retire an additional 3 per cent of the praferred ?mrk in accordance with the charter of the company. Ry this action the total outstanding capital stock will be reduced frem $109,800,000 to $108,412,000, consisting of 484,120 sHarews of preferred stock with a par value of sllO a share “3C and 600,000 shares of \eommon stock & par value of SIOO. SIEALING 3 Rlat BOOSTS STOCKS NEW YORK, March 11.—A jump of 9 cents in demand sterling indhced good buying at the opening of the 'stock market today, on which prices | rose from fractions to more“than 5 points, ‘ Steel common rose 3-4 to 101. Gen eral Motors made the greatest up turn, selling at 320, a gain of 6 1-2/ points. Crucible rose 2 points to 230, which Republic Steel and Baldwin made upturns of more than 1 point. The raiis continued their advance, St. Paul common rising 2 3-8 to 42 3-8, Baltimore and Ohio 1 3-8 to 38 3-8, while Reading and Union Pa cific advanced 1 point. | American Tobacco securities were. The market was irregular duving the greater part of the afternoon, s/ “ e many issues losing from 1 tc 3 points while other stocks weee in demand. ) Steel common dropped to 100 1-8; Crucible nearly 4 points to 129, and Baldwin Locomotive after falling 2 points to 120 5-8, rallied to a.bove| 122. Southern Pacific yielded over 1 point to 100 5-8. Industrial Alco hol was prominentn, advancing 8| points to 93 1-4. Mexican Petroleum’ rose 4 points to 191 3-4, followed byj a reaction to 189 1-4. Sinclair Oil bace active advancing over 2 points to 43 3-4. , The motor stocks receded | 'trom 1 to 3 points from the high levels. g l Steel cornmon was forced down to |99 5-8. Republic Stel broke to 95 3-4‘ and Baldwin Locomotive yielded 2 points te 120 1-2. General Motors dropped to 319, but rallied to 323 1-‘.'.i' at the finish. The rails yielded frac tionaily from the top. Mexican Pe | troleum after selling above 190 drop- Iped to 187 1-2 .at the close wlulu) Pan-American Petroleum was off nearly two points at 96. Cruciblei was finally- 228 1-2; American Wool- | en, 127; United State} Rubber, 107; Indusfrial Alcohol, 91, and Swde-’ baker, 97 1-4., } The market closed heavy; govern ment bonds unchanged; railway and other bonds irregular. Broker Expelled From . New York Stock Exchange NEW YORK, March 11.--Announcement was made from the rostrum of the stock exchange today that Brune B. Marcuae had been expelled from membe-sin y of tha cxchange for making a false states ment to one of the committee of the slock exchange. Mr, Marcuse, who was adiitted to the exchange in Dacsmber, 1417 is a member of the firm of Mar cuse and Company, of Chicago. NEW YORK CURB STOCKS, The market opened steady and closed strong. Stocks— Open. Close. Aetna Exp. .. B%@ 9 8@ 9 !Anxlo Am. Ol 2Thiw 28% 2Th@ 28% Con. Cop. . . 4KI & 1@ 4% Cosden oOil .. B%@ 8% %o 9 Houston Oil :.106 @llO 116 @l2O Ind, Pipe . .. 97 @IOO .97 @IOO Inter Pete . . 690 @ 71 0 @ 7 Lehigh'V. C. .86 @BB A v Magma . . .. 34 @3B < 37.@ 39 Marconl . . , U@ 6% su@ 6 Merritt Ol . . 19%; 19% 20y @ 21 Midwest Oil .. I%@ 2 1@ 2 Midwest Ref.... 170 @172 178 gli’s’» Nor. Am, Pulp.. ‘6@ /% 514 5% Ohio Oil .......370 @3BO 370 @376 Pralrie Oil ~..660 @6BO 6656 @685 Bub, Boat .... 16 @ 17 18% @ 17% 8, O.N. Y. ....465 ' @470 468 @473 8.0 N'J. ....748 @756 780 @790 8 .0 Csl. ....388 @342 343 @350 80 . Ing. .../ 180 %770 816 @R3H Union Tank ...127 133 120 3136 United Motors. . 40 60 Victoria Oil ... 1% @ 1% 1% @ lrﬁ Cons. Arizona . 1% @ 8 P-16@11-16 Nipissing ..... 10%@ 11% 10%3 11 B. & Wyo. Ofl.. 1% @ 3-18 1% 3-18 Glen Rock Ol .3% @ 3% 3@ 3% Is. Ol & Trans, 4% @ 6% 47 @ & Northwept Ol . Vi e 40 @45 U. 8. Steamship 2% @ 2 2%8 2% Sapulpa ....... B ® 6 5% 2% Onar Light ..... 24@® 2% 246@ -2N Boone Oil ...... 4@ 4% A@ 4% Brazos «........ 16 @ 20 15 @ 18 Balt Creek +.... 49% @ 50% 652 @ 12% BRI O . .uiiuiivitiiiiens Tolß NS FASRhME oAT e B }r‘,hnlmnru Motbws ...i.hiviv SR T Bk Basin .....cioiiinnseess 10550 30% ;Federnl O oiiasevimrinwine SR % GIMIBNR oo viinsivimiiianine 95 8 44 Int, Pote. ....cciibmenrivioss 89 9 13 Torr LAME ..o v riasiie A 1B ‘;2 RN . iy RO B ENOETAMIEY sv it andaahon B 8 40 B 8 Msienatly Lo g e OMBE O iiy B 0 0N EIRNSTIONR i i ibscuiiiivia AOB 8 4B I Puilitas Movely .. ciiiiciiine 8 B 8 Pl Peth. . iiviveriieiie 49 @ 41 va”ha i i s a ity BRE 6:2 Bplly i 118 B BlnmN PO, . hiiicciieinane 33 0 83% Bl Orafk. ....oivorionnvscs. HOU G B} BEABton ... i.issannisnneirne % @ % Mok PVRBGEN .. i eisnisardl A U. 880 D . ..isnviviinannns 2"/.% 3 Y. B P BOAL. isciiioninmnes B 2% AT EORE s esiioniirenises SR 4 PO DI 0.0 i viiiindesien 1T 5 WURIS Ol ..o ivoniiesnnin 30 'O 2008 MONEY AND EXCHANGE NPFW YORK, March 11.-.-Call money on the floor of the New York Btock ¥Ex change today ruled at 7 per cent; high 7 pér cent; low 7 per cent. Time money weas slightly easier. Rates were: Sixty days, 8% @9 per cent; ninety dayvs, 8% @9 per cent; four months, 8% @9 per cent; five months, 8% @9 per cent; six months, 8% @9 per cent The market for prime mercantile paper was steady, Call money in Londen today was 2§ per cent, sterling Fxchange was easy with husi. ness in bankers’ bills at 3.74 for demand, NAVAL STORES. SAVANNAH, Ga., March 11.-—Spir its—Rirm. Regulars, 2.06. ESales, 61. Rosin—Firm. W.W, 18.76; W.G, 18.76; N, 18.60; M, 18.50; K, 18.00; I, 18.00; H, 18.00@18.06; F, 18.00; D, |18.00; B, 17.00. Sales, 267. Receipts—Bpirite, 10; rosin, 265, Shipments—Spirits, 63; rosin, 2,669, Stocks—Spirits, 4,344; rosin, 30,471, CHICAGO GRAIN MARKET. CHICAGO, March 11.-~Wheat—No. { hard, 2.50@2.51; No. 3 Northern spring, 2.42; No. 3 mixed, 2.45, Corn—No. 3 mixed, 1.63@1.531-2; No. 4 mixed, 1.60@1.5611-2; No. 3 yel” low, 1.564@1.566 1-2; No. 4 yellow, 1.60 @1.53; No. 3 white, 1.54@1.566; No. 4 white, 1.50 1-21.611-2. Oats—No. 2 white, 911-2@92 3-4; No. 2 mixed, 891-4; No, 3 white, 901-2@91 34; No. 4 white, 901-2; standard, 82, ORNE DESK & FIXTURE CO. 93 N. Pryor Bt. Phnn:v Tvy 1158 DESKS, CHAIRS, FILING DEVICES. Lerge Stock. Low Prices. GOLD IMPORTS BUOYS STOCKS; BIG DIVIDENDS EXPECTED | By BROADAN WALL. : 36 l NEW YORK, March 11.-—Reports of gold imports actually on the hi&l {seas resulted in a sharp advance of sterling Wednesday, and this broug imoney rates down slightly and in turn sent the stock market into new h tlerritory for the movement. While industrials furnished most of the day's 'husiness. the rails were also very active. Reading was really the leader‘qf ,the whole market. Even the coppers moved upward sharply, that group ibeing under the leadership of American Smelters. Tire stocks were higher, {and also the tobaccos. Steel stocks were all stronger because trade reports were cheering. In spit of the heavy profit-taking in the afternoon, the !market closed at about the best prices of the day, with material gains in inearly all active issues. i ’ : The stock dividend decision now, Ithat it is rightly understood, is hailed‘ ;with delight by the financial world al- i jthough the tax collectors are upset }hy it. Commissioner Roper says: it ;\\'ill mean a reduction of $500,000,000 iin federal taxes for 1919. That lsl jone reason it is so bullish on the :stm"k market, This remission of . $500,000,000 is the first break in the |upward movement of taxes since the | war began and will relieve the situa tion tremendously. In addition to that feature of the decision it paves the jway to new stock dividends. That | they will be declared in great num |bm- goes without saying. The action {of Magnolia Refining Company Wed ;nesday in increasing its capitaliza {tion from $60.000,000 to $120,000,000 | to furnish stock for dividend purposes | shows which way the wind blows. The | vear 1920 will be one great orgy of ' stock dividends and the market will iaf:t accordingly. ) { Announcemgm that the Steel Cor iporation had fincreased its volume of | unfilled orders only 216,640 tons for the month of February was not a gmatter'nr any importance. Every ibody knows the country needs more isteel than can be produced. The only lquestion is as to the ability of the ipeople to pay for it at current prices land the ability of the companies to | get the labor to produce it. ' Several weeks ago announcement ‘was made in this column that the | Pennsylvania Ralilroad would buy up lthe minority Pan Handle stock that fls outstapding, issuing a 6 per éent ibond for it. Official announcement lof that fact was made Wednesday, ’ There was some inquiry for Con | solidated Gas stock on the theory ‘that the courts would permit a higher fcharge for service. The courts are }g!ving stockholders their dues these 'days and persons who have their sav ings invested in great corporations are cheering up mightily. All the oil stocks had ‘a surge up ward on announcement that the gov ernment, having failed to get enough }ou through private bids, would go into the market and buy in competi tion with other consumers. That does ’not settle the Mexican question, but it does help the oil companies. There is already a shortage of fuel oil and a big customer buyving in that way is sure to create disturbance. Wall Street hears from very high authorities that the Reading and the Lackawanna ~ ailroad Companies are both planning segregations or stock dividends. The segregated property in each case may well be worth SIOO y& share. It will be worth that much "in Lackawanna at any rate. Read ing is moére of a mystery, but now that the stock dividend question is Safes and Vault Doors (=== of all . kinds, new and ] second hand. Agent for E 1] Hall's, Victor and Under | wood., Expert opening and “! ll' li repairing. @l | i Atlanta Safe Co. € 64 W. Mitchell St. ”77 Main 4601, ’SECURITIES SALES COI INVESTMENT SECURITIES | PHONE Direct wire to our New York Correspondent GRANT BLDG 1vv2200 Hayden, Stone & Compang' ATLANTA | Members of New York Stock Exchande. | ) ALL PAINTS BURTHIS y WRITE OR PHONE FOR : COLOR CARDS @\\ | PHONE IVY 516 . : TRIPAD PAINT £&. An Atlanta firm has a patented product with a wide distribution through advertising. More money is needed to carry on the business and to enlarge it. The product is a ready seller anywhere. We want someone to invest with us. Our proposition will stand the strictest investiga tion. All business confidential. Curiosity seckers need not waste their time or ours. If inter ested, write, Box 1072, The Atlanta Georgian, Atlanta, Ga. [ gettled in an agreeable manner the segregation can be proceeded with. For the first time in months there was aggressive buying of copper stocks under the leadership of Ameri can Smelters, i | ! CHICAGO, March 11.-—Con opened 1-2¢ to 1 5-8¢ higher on a rush of commission house buying and with the strength in rye bulling the mar ket. Offerings were limited until some longs started to take profits. Practieally the same condition pre vailed in the opening for oats, whieh started 1-4 cto 3-4 c higher. Pro visions opened 10c higher for lard and a shade lower for ribs, with a qulet trade. There were no opening sales of pork. Corn closed 1% to 2 cents higher. Oats closed % of a cent higher. Provisions closed Highew . s ’ | | ‘ | Prey, _| Open | High | Low | @lose | Closa Corn 3 Mar, ? 1.54 ' 1.54 I 1{.2%’ 1.52‘&1 1.62 May | 1.47%!.1.50 | 1.47!;,] 1.4&1’,{ 1,48 July | 1.425] LAIT] 1415 L43%] 140% Bant. | 1,::714,!' 1.397’.| 1.37%! 1.39 | 138 ats May ! ‘53%, RIEA ﬂlf!‘!i’ .B.’(‘,&! Bhl% .Ml\'k" A'Ml,é' .76%!1 .759(,} .78%; 76% Por May |35.50 (36.60 [25.50 (15,75 135'53 .I'ulvd "36.70 ;3580 ;515.70 135.60 136.36 Ar 5 May 121.95 [21.95 [21.60 “JLGQ "1% J"{Ylv 135.70 |35.80 :35.70 ;35.50 |35‘35ﬂ bs | t May hsrs linrs hasr (1560 ,u.u* Julg 118.85 [19.22 [18.85 [19.07 118.87 P —————— e GRAIN MARKET OPINIONS, .© Lamson & Bros.: ‘‘Easterners continue to cancel purchases of both corn &:-1 oats, Country elevator stocks are d to be unusually heavy.' Bennett & Co.: “Unless weakness &e --velops in the cash corn market we do not look for material declines for pres ent."” Ware & Teland: “At “this time .we doubt if there i any outiook for tha terially lower nprices. Would by oatls on reactions only." Bartlett, Frazier & Co,: “We are ot tnelined, to look for further recessions' of importance in 'cash values and when the market steadies the futures will take care of themselves." - CHICAGO CAR LOTS. X CHICAGO, March 11.—Following are re ceipts for today: 1 WHORE i iicisisiainntscithesnn *: COrN s oliisidivasbvesispvhnashoning SRS LR RL TR e e 8 SUNSHINE IRON & . STEEL CO. & Wholesale Dealers in Iron, Steel, Metals and other Waste Mate rlalg\. B 43 to 51 Maganolia St ¥ Phone lvy 7057. # Correspondence Solicited. o