Atlanta Georgian. (Atlanta, Ga.) 1912-1939, March 12, 1920, Home Edition, Image 19

Atlanta Georgian., March 12, 1920, Home Edition, Image 19

About Atlanta Georgian. (Atlanta, Ga.) 1912-1939 | View Entire Issue (March 12, 1920)

Page of 24

Prev Issue Next Issue

Text PDF JP2 (3.9 MB) Clip/Print Image

Page of 24

Prev Issue Next Issue

Return to Top

Newspaper Page Text, After Scoring Heavy Gains on Vigorcus Buying, Leading Stocks Keact Under Kealizing—Cotton Regains Early Reaction F=o e CEPABRIANG BARE AE B ADBNIES . 000 A N \A /¢ .t a 5 || THE GEORGIAN'S PAGE AND FINANCIAL NEWS| IZa 8 . A ————————————————————) Atlanta bank clearings Friday....... ... ... ...$11,736,522.82 Pane daylagi year o i h v L U b s ) BTeB 28101 i ] STOEBAND 1., . (.0 e o AR 0 S 0 281 D) SR day e waeke o v iaa L el s 1019802878 Bane gy JORG ¢, 0 LO, 0L T RRe SOR T " .- » | Atlanta cotton statement Friday: ; . 1920, Last Week. 1919. 1918. Regmpts’y. <& (.- 660 1,432 623 1,429 Shipments .. .. .. 959 933 778 01,731 Stooks .. .. ;. .. 32,718 32,285 25,223 53,957 N * - By VICTOR BARRON., Trading in the cotton market was light during the early session Fri day, with prices showing a reactionary tendency as the result of increased realizing. However, there was nothing in the news to occasion any change erworesessemezn from the bullish feeling, and the reaction was entirely 5 ,ﬁi'? figs technical and a logical sequence to the advance of the :,\ last few days. At the opening futures at New York ’ >»°,‘;h were irregular, being 4 to 15 points higher on near i _ .Y} months and 3to 10 points lower on distant months. A | 4 74§ further upward movement in demand sterling, together ,s with strength of the security market, continued unfa ",t e :* vorable weather in the belt and expectations of bullish %,ri;“. \ week-end statistics, kept the market well supplied with ~% buying orders, and the setback was held down, futures *?t“* at New York receding 9to 20 points from Thursday'’s "vc’gm close during the first hour’s trading, with March, the \AV@ ‘:Mx exception, holding at 39.65, or 15 points net higher. Oec- G @ tober dipped to 31.40 and December 30.40. E“%':‘:;Em::' i R Active options recovered the entire gain during the e e T extreme forenoon, due chiefly to increased demand and o;?g& 8 falling off of offerings, caused principally by a wire Qﬁ;ﬁ;}, i B ‘rom Savannah speaking of increased demand for spots; o O % S oD Y% offerings light and exports of 22,000 bales. Evidence srsennemsa s e” that Southern holders are not turning loose the staple freely at prevailing prices is shown by the fact that spot sales as officially reported in the Southern markets Thursday amounted to only 10,000 bales, or 12,000 bales less than the number that were exported from Savannah Friday morning. Exports for the week are expected to exceedd 200,000 bales, the total up to and including Thursday amounting to 177,770 bales thus far for the week, as compared with 145,000 bales for the entire week a year ago. . . Great Britain’s _ . Trade Increasing LONDON, March 12. REPORT issued by the British A_ Board of Trade showed that imports into the United King dom for the month of February in creased 63,440,401 pounds, while exports increased 36.049‘.079 pounds, as compared with the correspond ing month ‘last year. The following tabel shows the trade of the United Kingdom for 'the month as compared with the same period in 1918: Pounds. Pounds. 1920. 1919. Imports . . .170,514,000 107,073,399 Exports . . . 85,964,000 46,914,921 Excess of im- % ports . . . 84,550,000 60,158,478 From Jan. 1 to Feb. 20— Imports . . .345,012,000 241,591,453 Exports . . .191,843,000 94,257,864 Excess of im ports . . '.162,169,000 147,333,589 - . ) : | CHICAGO, March 12.—Corn open-] ed steady to 1-2 cent lower withl - gcattered commission houses selling and weak buying power. There was a lack of buyihg sup port in oats, which started 1-4 to" 1-2 cent lower. Prov‘lsmns opened a Mhade higher for May lard. Trade was liimted. ‘ CHICAGO GRAIN MARKET, | Grain quotations: 3 | | ‘ , 12:00 I Prev. o JOpslt LEogh | Tow |M. ).Closs. Corn | Mar. i ev v iE Lva sl SRN May 1.49 1.48 1.47%/| 1.47%| 1.48% July 1.43%| 1.43%| 1.415) 1.413,] 1.42% Sept. 1.39%| 1.39%| 1.38%| 1.38%/| 1.39 Oats May 83%| .83%| .82yl .sak| .83% July 5%l 16l .75%| .75%| .76 Pork l ‘ l | | : May e P T G R SIS R s L ey Lard | ' ‘ May [21.70 ?21.77 $1.70 13170 [al.BF - July {22.23 [22.45 [22.22 |[22.45 [22.20 Ribs l | May chatabv il vl vt veRN S July il s s o] vy a v LR b ATLANTA PROVISION MARKET. ‘ S (Corrected by the White Provision Com pany.) ‘ Cornfleld hams, 10-12 average.....s .34 Cornfield “hams, 12-14 average .... .34 ‘ Cornfield skinned hams, 16-18 aver- S i e i e ‘ Cornfield picnic hams, 6-8 average. 221 | Cornfield breakfast bacon, wide or { NEFPOW .o s qibors soredvsiabos 43 Cornfield sliced bacon, 1-ib. pack« ABES. 5210 OB (5.5 iisscivach wBB Grecers' bacon, wide or narrow ... .32 Cornfield pork sausage, fresh link SF Dalk s ei e Cornfield wieners, in 10-Ib. cartons. .22 Cornfield gyieners, in 12-Ib. kits.... 3.00 Cornfield ’olognu sausage, in 25-Ib. BORME . ..\ isss aexiaaniie 2B Cornfield smoked link sausage, in BTN BREE s i ia ek 3R Grandmother’'s lard, tierce basis.... 26 % Country style lard, tierce basis..... .25 ‘ ‘_‘l'b 8. extra ribs . i s R bD. 8. bellies, light average ........ .20 . 8. bellies, medium average..,... .20 Compound lard, tierce ba5i5....... .26 WEE LY BUSINESS REVIEW. Following is Bradstreet's weekly review of toeal business conditions: “The street car tie-up has materially af fected the retail trade here, and no relief is in sight Wholesale dealers report a continueds good volume of business, in gome lines wholesalers are experiencing great difficulty in obtaining their mer chandise, due to inadequate transportation facilities. They believe that there is no immediate relief 'in sight “Tle building activity continues unabat ed, with all materials high, and the supply scems limited, - Investigat'ons are under way regarding the rent situation, but no \ effect has yet sheen seen. Building per niits continue to reach high figures. “Local banks show large growth in busi ness, “There is appurently & ’erlur(inn in prices of certain food commodities, and. it i# generally believed that the reduction goon will be seen in practically all lines. “Clearings, $65,631,352. Faflures, none.” CHICAGO CAR LOTS, CHICAGO, March 12.~—Following are re coipts for today: ‘ WIRORL .i i i sl et v lige s 6 COPN L eaiii v iviabnas drgples vae 8N 108 RS 08. mh oIRES PRTLy 45‘ Hogs SR ok TRI iy ysse sD e VRO » This brought the total number of bales shippe®abroad since the begin ning of the season up to 4,687,338 bales. World’s spinners’ takings for the week promise to show a large gain over the same period a year ago, when only 162,000 bales wer taken by spinners, and 170,000 bales the same week in 1918. ' Technicaily the market daily is be coming stronger and there still is a large outstanding short interest. The bullish front of those inclined to that side of the market daily is growing stronger. ILeadirg spot firms are de cidedly bullish, especially on near crop deliveries. Seven out of eight market opinions issued Friday were bullish. The trade has its eyes on the fall options, as the big discounts they are selling under spots are af fording themy a good investment. Farm work is being further de layed by prevailing rains in practi cally every section east of the Mis sissippi, as well as in sections in the western belt. The increased movement of cotton to the continent also is encouraging kullish sentiment, in that it shows that the cotton industry in those countries, which were badly ham pered, if not entirely checked, dur ing the war, now are reviving their industry, and exports are generally expected to continue to increase from now on. | A hullish census report on con-‘ sumption during February is expect ed Monday. It will compare with 433,000 bales consumed by domestic mills in February, 1919, ‘ One of the main reasons responsi ble for the slowing down of business‘ in the market is the probable effect on the money stringency of income tax payments Monday. Naturally that will take a huge amount of col lateral from banks in all parts of the country. ¢ | The chief topic of discussion in fi nancial circles is whether this will indirectly occasion a further advance in rates, and® whether—in the event rates are lifted—it will weaken the stand of Southern spot holders. Thus far high rates have been without effect in so far as breaking the “stand pat” attitude of holders, there beingl little cotton carried on loans. I FRUITS, VEGETABLES, I POULTRY AND BEEF Following are wholesale prices to retalii ers: POULTRY. BUTTER, EGGS, FISH, OYS TERS. Butter. Fresh country, per pound .... 35 Eggs. Fresh country, candled, dozen. .40@ .45 Live Poultry, Hens, per pound .......cco4., .38 Turkey, per pound ........,... .43 Stags, ger pound ......c..0000 .82 Friers, per pound ...|......... 652 Roosters, per pound .......... .26 Puddle ducks, per pound ...... .30 Geese, per pound ....... 0000, 22% Guinegk eaoh ~.... ... 00000 .40 Fish, Buck Shad, pound .........040 25 Roe Shad, pound ............, .30 Snapper, per pound ........... .26 Pompanoes, per pound ........ .40 Mackerel, per pound .......... .25 Trout, per pound . ....:iceooss .25 Bottom fish, per barrel ...... 12.50 Mullet, per barrel ......ivieee .7 26.00 Oysters. SOot POr HaNOR ... v iiveis 2.76 Stews, per gallon .............2.25@2.560 DRESSED BFEF. (Corrected by Swift and Cempany.) No._ 1. No. 2. No. 3. Riba:Poand . .o, ...ohen 0 .37 203 JOIDE DOURT . iiiines BB .35 .36 Rounds, pound ........ .2% 21 51 CHE“Rs, pounßG .. .uvevs 18 a 2 .10 Plates, pound .......... .13 .10 .10 FRUITS AND VEGETABLES, Vegetables String beans, per drum (scarce) 5.00@ 5.50 Tomatoes, per crate, owing B 0 QUATIEY - s s evinsri« 3000480 Cauliflower, per crate (scarce). 3.50 Canadian turnips, per pound. .. 04 Lettuce, drum (Cal. Iceberg).. 4.00 ILettuce, drum, owing to qual ity (Big Boston) ...........2.00@3.50 Cal. lima beans, new crop, p. Ib, A 7 Black-eyed peais, new crop, per g pound . ...i.iassccencssenes 0@ 009 Celery, per crate, Fla. ........4.00@4.50 Bell peppers, per crate, owing to quality ... ... choo.ooo. . 4.00@6.00 Onion, yellow, per pound .... 071 Irish potatoes, 150 pound ....9.50@10.00 Cabbage, per crate .....,.. ... 5.00 Sweet potatoes, per pound.... 03% Fruits. Oranges, per box, Florida ......6.75@7.25 Strawberries, per quart ...... .80 Grapefruit, per box .......... ‘3‘so@4 0o lemons, per box, Cal. ......... 7.00 Apples, fancy, owing to variety, DOK - shvi v albcsssoenpnmny e MRSk Apples, fancy, owing to variety, BRVEL D s e nee sDD EROO Bananas, per pound ..........5% 056 Peanuts, fancy, hand.picked, per pound ......eceaciniians 14 NEW YORK, March 12.—The cot ton market was irregular at the open ing today, being 15 points higher to 10 points lower, followed by further losses on quite general realizing. At the end of the first 30 minutes the list was 5 to 20 points net lower on active months. NEW YORK COTTON | | | \l2 | Prev. lOpen_?jigh[Low M. (Close March .. .. [39.65/39.65/39.65(39.65/39.50 May .. .. ..|36.60/36.65/36.44|36.57|36.53-56 July .. .. ..|33.81/33.92/33.68/33.82|33.77-80 Oct. .. .. ..|31.50/{31.56]31.40{31.42/31.556-50 Dee. .. .., ..[30.50130.60(30.40/30.42{30.60 Jan, .. ..;;s:o.l4l3o.lsggpojzo.osﬁso.n-xs 1 NEW ORELEANS COTTON. ) I | | 12.] Prev. [OpeniHigh|Low| M. [Close March .. .. [39.50/39.50{39.50/59.50/39.50 May .. .. ..|37.00{37.16{36.91/37.07/36.96-98 July .. .. ..[|34.40/3440({34.15 34.35‘34,25-26 OBt 4. oniee 31.4.’}|31.H 31.17|31.28/31.27-32 Dec. .. .. ..]30.44/30.56/30.44 30.45{30.56-60 Jan, 000 U ARSERO) 80.00 LIVERPOOL COTTON. LIVERPOOL, March 12.-—Spots opened in increased demand. Prices firm. Sales 5,000 bales. American middling fair, 33.65; £ood middling, 30,65;'b11y middling, 29.65; middling, 28.65; low iddling, 26.35; goed ordinary, 22.15; ordin(;.ry. 21.25. Futures opened steady. | ||z:oo I] ‘Prev. i lopen|P. M.[CloselClose March .. .. .o . 12673|26,.57 26.92!26!45 RDEH .. s S el ateh .o 135, 83134 .78 May .. .. oo o» |25.58/25.57]86.37124.36 JUBe M iy SR T e abe s aan 24488]25.87 WY .0 o iee N, ‘24.55 24.58/24.39123.38 AUgubt .. .. e 3. [B3 .09 A....".’8.5l Bentomber .. vy v Jasiiafils a]33, 1015280 October .. .. .. [22.66(22.52(23.48/22.41 INuvember e e Rk L R NSIEL «98 \December .. .. .. |21.78]..... 21.6.]. Sty JERURY .. Ve e 21.50‘. .e5+]81,36{21.26 Fébruary .. .. .. lese.oles... 21._13_]21.02 COTTON NOTES. The weather. It is considerably colder fn the Westmand Northwest. There will be rain I'riday east of the Mississippi River and clearing Sa%urday In the Middle and South Atlantic States. lln Tennessee ané the East Gulf States the weather will be fair Suturday. It will be colder Fri day and Saturday east of Mississippi ex cept in the Florida peninsula. Spot cotton Thursday at Southern mar lets, firm, ranging between 40 to 42.25 cents. Sales at nine places, 11,300 bales, { The market is becoming a weather prop | osition much earlier than usual, and trad ]vr: are getting away from the old crop months, fearing manipulation. ] Liverpool cables were 3% points lower on May and 12% to 17} points lower on { other months. The market opened steady at 17 to 24 points advance. At midaay the market was quiet but steady at a net advance of 17 to 21 points. Spot cot ton, quiet at 55 points advance; middling, 28.65 d. Sales, 5,000, including 3,000 Amer. scan. - - - ’ The weather map shows generally cloudy over the belt, very little rain in the West ern half of the belt, but general rains in North Louisiana, Mississippi, Alabama, Arkansas and Tennessee; however, mostly light, except in localities, where heavier. COTTON MARKET OPINIONS. Moyse & Holmes: ‘“We consider it ad visable to take advantage of all sort spots to buy July and October contracts.” - . - Munds, Rogers & Steckpele: “We favor purchases of new crops on all easy periods for the present.” . . . Hirsch, Lilienthal & (e.: “We recom mend as before the purchase of October ‘on all setbacks.” : - . . . l E. F. Hutton & Co.: ‘““We think it is {too early in the year to bull the new crops, especially at this lever of prices.” . . - R. H. Hooper & Co.: ‘“The market seems healthy and it is probable that fur ther advances will be seen.” . . - Mess & Ferguson: ‘‘We continue to ad vigse buying on weak spots.” . - L I Hubbard Bros. & Ce.: ‘“While some further reaction might easily oeccur. the lgnneml sentiment is for higher prices, on the theory that outside financial condi | tions will not affect the value of cotton until next summer or fall.” ¥ . - - S. M. Weld & (Co.: “We do not recom mend the short side, but would only buy on good setbacks.' ATLANTA COTTON DIFFERENCES. (Atlanta Official Grade Differences, U. S.° . Government Stnndnrd' Miadling TRIr ...... coodaves B 300 oh Strict good middling ...............275 on GOOO MIGANDE .../ ivvassnncesons 200 0N IO i i iRy LR e i Btrict low midaling ... .cvccociiei, > 200 ofF ! XOW MIGAIIRE . ... iidiviesviss 5T O NE Yellew Tinged. | Good middling ....................250 off BRIt IR . g AT Gk ROR T Yellow Stained. GO6d MIBAKMBE ... 0 cviivis iaes s HOD SET ] ATLANTA COTTON SEED PRODUCTS, Description— - Priee, | 'Crude oil, basis prime (tank 10t5)..518.25 Cotton sed meal cakes ....(not gquoted) Cot. seed meal, 7 p. ¢. (100 ton Ints) %6.50 Georgia, common r. p. (100 ton ints) 6550 Cetton geed huMs, sucked (car Intg) 17.00 Cotton seed hulls, loose ' (ear lots).. 13.00 fantars. NO. 1 CIOM) v ebilliceiss 10 Lntary Wh 3 QOte) oG v o Jinters; No. 3 (10t8). .o istinsvera 05 NFEW YORK PRODUCE MARKET. NEW YORK, March 12.—Petroleum: Strong; crude Pennsylvania, 6.10. Turpentine—Firm; 2.15. Rosin—Flirm; common, 18.50. Wdol—Firm; domestic fleece XX Ohio, 62@1.00; domestic pulled scoured basis, 756@1.70; domestic Texas scoured basis, 1.00@1.75. ~ Hides—Steady; native steers, 35@37%, branded steers, offered, 32. Coffee—Steady; options opened 1 to 4 points higher; Rio No, 7, on spot, 15%. Rice-——Full; domestic, 9% @ls, Molasses—Firm; New Orleans open ket tle, 1.62@1.12; black strap, 29. Raw Sugar—-Steady; centrifugals, 11.00 @11.03. Refined Sugar—Firm; fine granulated, 14@ 15, y [ Potatoes--£teady; nearby white, 5@ 11144 germudas, T@l3; Southern sweets, offered, Beans—Firm; marrow choice, 11.00@ 11.50; pea choice, 7.256@7.560; red kidney, choice, 14.50. Dried Fruits—Firm; apricots, choice to fancy, 29@37; apples, evaporated, prime “to fancy, 14@26%; prunes, 30s to 60s, 15@ 23; 60s to 1008, 10% @l4 % ; peaches, choice to fancy, 20@25; seeded raisins, choice to fancy, 21@29%. | § e e POULTRY AND EGGS, NEW YORK, March 12.—Poultry: Dressed, unchanged; chickens, Butter: Market, firmer; creamery ex tras, 67@701 ; firsts, 65@6ERY%; higher scoring, 67% @ Tl%; Btate dairy tubs, 45 @ 66; renovated extras, 54@55; limitation creamery, 45@46. Cheege: a™Mrket active; State whele milk specials, 29% @3l; fancy, 28@29; Wiscon #in lower grades, 15@27; whole milk, fancy young Americas, 32@ 32, State skims, specials, " 17@21; cholce, 13818; fair to good, 10@12; lower grades, 4@9. * Eggs: Market, unsetied; nenrbx white fancy, 653@64; brown fancy, 49@50; extra, 46@47; firsts, 43@44. ) vt iasbodopas il THOMPSON-M'KINNON ON STOCKS. NEW YORK, March 12.—The navy is unable to obtain an ample supply of oil. This is because of consumption outstrip ping production. This {8 what makes for high prices and can not be controlled by restriction of credits or any other arti fieinl metheas. The law of supply and demand wins in the end. That there is ample justification for the recent market activity is clearly indicated by the cor porate reports that are being published. Studebaker is the latest tp give us fig ures that show a delightful state of pros perity. When, you have such business he fore you, you are compelled to entertain a high reégard for stocks, whether money s higher or to low. The one weak point in our industrial situation §s found in copper, ¢ NEW TREASURY OFFERING; WAR FINANCE BONDS SOUGHT Coinciflent with the first payme nt of 1919 taxes next Monday, the treasury department will offer an is sue of certificates in anticipation of the initial payment on the 1920 fed eral taxes. Why this new offering is made at this time is not quite cl ear, as the department announced some weeks ago its financing had be en brought to a temporary close. Tax payments, it was said, would probably care for the treasury's re quirements the greater part of this year. On Monday’s payment the gov ernment estimnates it will receive $1,000,000,000. Against this amount it has some $850,000,000 of maturing certificates outstanding. This would leave a net cash balance according to the treasury of $150,000,000. The new certificates are designated as Series TM. 192]1. They are dated March 15, 1920, mature March 15, 1921, and bear interest at the rate of 4 3-4 per cent per annum. Although they are tax exempt, their intgrest rate is considered somewhat out of line with present money market con ditions. They carry two interest cou pons maturing September 15, 1920, and March ¥, 1921. No minimum subscription quota has been set. It is possible, althpugh the treas | New York Stock Market | ‘l2:oo\*’ll\34 STOCKS— Ileh! lew | M. |Clore Allis-Chalmers . .| 44 | 433%)| 43%| 434 AR BIHG a 0 b b RbR Am. Ship. & Com. . 2T%| 27% 27%] 27% |Am, Agricultural . .| 90%/| 90%| 90% 90 Am. Beet Sugar ..| 84 84 84 'Bi Am. Can . . . . . .| 46%| 45| 45%| 46% Am, Car Fdy. . . .[140% 1397 140% |139% Am, Cotton Oil . .| ....fv.oif cu.i] 46% xAm. Locomotive .| 991;| 983 98%‘ 907 ;Am. Smelting . . .| 663! 6614| 6634| 603 { Am, Steel F'dries .| 46 45%| 40 l 4515 P Tel & T ] ] e \ Am, Woolen . . . .|l2O [126%{127%2{1206% i Am. Linseed . . .| 83%| 831%| 833 $3 |AtL G. &W. I . .[1568% /1583441568 12156 ] Am, Hide & lea. .| 24 | 23145| 233 2314 lx do pfd. .. . .10 [lO5 |lO5 [105% | | Am., TobBBCCQ & i wf dawsl wuleaf ives (RG34 | Am. Sumatra Tob, .| 91%| 91% 9&"/. 4 ‘ Am. Tob. Secur . .; G6le| 65%| 6634 €45, AR Tl ey NG s S|4s - Am. Writing Paper bl ot T {Am. Int. Corp. . . .| 99%( 98% 99%1 883 Alloy Stasl 5.« ol doask sil thal A 8 Alaska Gold . . . .| ! { .17& Anaconda . . . . .| Bo%| 59%| 60| 593, {Atchison ... . . {867 85| 85 | 854 OO R U roe T Nel S P et !9 Ajox Rubber . . luie il el ‘ 4 Bald. lLocomotive . 122%&110%;119'{.!131}_“, li).&(),. A T i v -)bl"( { Booth lisherfes . .| ....] ....| ....| i ; Beth. Motors . . .| 27 | 26%] 26%| 244 lßtlh, Stes] ‘B . .| 93%< 9231 9315 9'.‘:5 ‘Brook. Rap. Trans. | 14% 14%1 1430 149 [ Butte Buperior . .| ...e] ....] .| 26 ;ButteCop.&Zinc. iath s bk 395 | Calif. Petroleum . .| 37%| 37% 3734|303 [RI PaoklNg & . o «iva] et toniing 19M ’gmnadmn SRy LA G L 1188 I & O .. 00l bbbl sl REK| AE% PR SR N W e T A ' Colo. Fuel & Trom .{ 40%]| 401! 40% 4014 'C., M & St P. .. .| 80%| 60%]| sov;‘l 613 L RORING COPPOE: c ao o] sival viniel vsss] 0% | Consolidated Gus .| 85 85 85 | 85 ‘Corn Products .. .| 93%] 91 9115 913% i Coca-Cola . . . . .| 36%| 36%| 36'%| 30% Crucible Steel . . .[231 ‘22’l 228 (22% Colum, Graph .. .| 48%! 48 ABY | ATy | Cub. Am. Sugsar . . ‘ Vaa g o 1808 | Cyb. Cane &agar . .| ....1 ..af ... 46% Cawt Iron Pipe .. .| 183 &g% 18 1813 | Central Leather .| 8871 %64 8614( 87% | Chile Copper . . 7 .| 18%! 18%| 18%]| 1814 | Chandler Moter . .|14315]14515 1@!5;154 IColumbia Gas . . .| 60 ! 59%| 59| 59 | Clirre-de-Pasgo . . | L..ifp . evill B L Continentad Can . b, b 00l 8% ‘Dela.&Hudson. Lo eißel e Brie . v o v .0 1001 14N 39861 14% B 0 TBt OG- . F 0l et Vel Y Endicott-Johmson .| ....} ....] ... .‘IOG!/, Famous Players \ .[-....| ....| ....} 80% PR RUDDEE . . i) viask ssiv] anaat 2% Gen. Cigar Stores .| 69 69 69 |69 Gen, Eeletric . . . ...} . ... ....]1686 | Gen. Motors . . . .|332%/3253.(327 |323 Godrich Rubber . .| 73%' 7846| 713% | 73 }Great Nor. pfd. . ‘ 82141 8114( 82 30% Ireat Wor. Ore & ). vl iiiilida: 1 30% | Gulf States Steel . .| 68 |6B | 68 | 65 | Greene-Cananea . .f ....}] «...} «.o.] 95 Illinois Central . 1 Lo los o RS o] 9% Insp, Copper . . .| 663%| 553%| 653 55% Ind, Alcohol . . .| 95 |92 | 933! 80% 'InL Nickel . . . .| 22%| 22 | 23%| 22% Int. Harvester . .l ....|J ... .4 5.5.1129 Int." Paper . . . . .| 81%]| 80| 81 | 811 Keystone Tire . .| 393 38%| 39%| 19 Kelly=Bpr. Pira oo Vb vooil vt ilt % Hane Oty BoW . WA vavel sivd aan<) K% Eanens & Texanw ol o b s il ivei| 19 | Kennecott .. . . | 30%| 30%) 30%/ 31 Lackawanna Stee]l .| 74 74 74 ‘ 733, Lehigh Valley . . .| ... ... ... 47 % LoV’ Genmt o T e o] 3% T TivE i ] R LN Ssl el e Cotton Mills In G ' In Good Condition Information coming from Germany through reitable sources, states that tex tile mills and factories there are in much better' condition than those in England, France and Belgium, attributing this to the fact that Germany, never believing she wutngoinx to lose the war, kept her plants the highest state of efficiency throughout the conflict and even expanded and modernized them in anticipation of the much larger world trade she beiieved would be hers when the war was won, -ccording to a recent issue of Women's Wear. 'he article further says: “Labor in Germany, according to the information in t}uenlon, while net so amenable to discipline as before the war, is still much mozre so than in any other country with the result that the German | workmen are really prodcing. | *Prior to the war a weaver received 68 marks weekly. Today he gets 180 marks l‘:\loh, at the present rate of exchange in r money would he SI.BO a weelk, J4The Germans in German mills were of fering for sale, in Germany, 2-40 s, combhed yarns at 61 cents, which is far under the price in America. , ; “The belles was expressed that the cot | ton used for these yarns in either raw | material, which Germany has had stored | for some time, or yarns purchased by Eng , | land from this country and still being de lieved to England at the original contract price, considerably below the rpesent market, and by England sold to Ger many. “From another source, information has been received to the effect that one dozen pairs of cotton hose, dyed with the best German dyes, can be purchased in Ger many for the same price as a single pair of ‘equa) quality hose in this country at the present time.” COMMERCIAL CREDITS. NEW YORK, March 12.—Prominent bankers say that there arq indications that the liquidation of commercial credits had started, this being especially true with regard to the country banks. These bank ers and business interests expect that the liquidation of commercial credit will be going on in a satisfactory manner in one |,nr two monthe. Improvement in un!lmer? | with regard to the money situation foun | raflection yesterday in larger purchases of aceptances by country bankers. One dealer sald that the volume of business done by | his concern was the greatest ever. ! EX. DIVIDENDS FRIDAY. Stocks. Per cent. Americon Hide & ILeath. pref.. ... 1% AN LOEBRIOUIWD: . iiiiivvasnaisnsnds TN Chino COPPer .......coovsssvsesasnses % Mexloan Petroleum .......cccooooo.o. 2% | National Lead .........ooceunvninnnn 1% PAN-AMErICAR ..., iconsenessiresse 1% Nevade Cons. Copper .......vuvcvoe % Ray CODS. (. covvovovovtsvpsssnvsssnnns % TUION RIS %oo drvrsrrenvdsditneds i BN Utah CoDPer is.oicvvissnsnsaseodsd -390 -ury department does not so state, that the primary purpose of the new issue is hope of persuading holders of war finance corporation bonds maturing April 1 next to switch their holdings to treasury certificates, thus refunding a part of that issue before maturity. At least, it is announced that these bonds will be accepted at par with an adjustment of accrued interest in payment for certificates of the new series. Treasury certifi cates of any or all the feru®issues maturing Monday may also be used in payment of subscriptions. Purchase of treasury certificates on the installment plan is made possi ble by a ruling announced early this week by Secretary Houston. Gover nors of federal reterve banks were notified the treasury would permit the partial payment arrangements, established during the flotation of Liberty loans, to continue with re spect to sales of the savings certifi cates. The plan will hold until Oc tober, 1921, but if successful will be come a permanent feature of the gov ernment’s financial operations to en courage thrift. 3 " rev. i ]lz.Oolglose 3 IHit.‘.‘.f_’ﬂ 2t 20 s — eabinsey 1 S e 29% 3"‘!334 e s-|i |il e s RO A (e, a 5 Sag s NG Mex. NS 14 81 } Marine . .. nch % oyl e 33 do pfd. . ‘oil .| 38 3l Gl e iB o el iami Co e i il g I?&ld\’ale o ] ( 6% | 76% SR % TAriongr Doaduls Tael 10l TI%I 10 e 5o Seim| serm) $2 N. Y. (*enuﬂ& H. .| 35% d 81 o R S| Es I Ak? g e 1 Nt Pﬁ(“ft“‘;w. e T Nosis N. Y"(%';l'('ulw"r("" et eLy xNev. Con. ke . 1o 4614 . Alirbrake .of vaed 16 b Sd f | ]G| £ pre ety ! sin) $o 0 pennﬂy‘vnni& Ay S 817%| sl""l o ‘Piﬂrfe'ﬁrrgugar <o 81&‘ I 9'7‘4 Punta A. Sar 00l SR 1;:-09'0" G“:| Car .| SR | ' 1;:». Pressed s“(.‘gal b Rl tEiapen Pittsburg G | -,"—'* 93% 195 $0 14 Pulliman L?"ot(‘. 2 ”;'““, 29%| 20% 18% xPan-Am. attne 3)&."»-”. 19\‘. Pere Marqu el s is%l 18 % 339, Pierce Oil oliduted | 18 ’ﬁ| 837 84 [ 95 £ Ghaspliaety pB% $415! 847 281 Reading & Bioel .s‘ﬁ'ﬁ‘ 37"'21 ::7;‘9,‘ 98 Repub. 4. a feat Al ~gu‘ 98141 98 1‘1”“ " Ret kb 10134110254 1100 Ry. Steel hp(;‘e“,) 108% | 67| ﬁ""“»":lb i Royal Dut“h. L. BTy i 1210 Savage A:;"l;“;k S s i]’(‘»(:' ﬂear!-Ro""Md S e 3015 110014 SN s 10034 {lOOl3 | 2644 Stromberg C : "H”%I 24%4| 25 |25 Sou. Pacific . . || 26 87%! 57 % i Sou, Railway . <o BT Dl.i'l’«i s‘:‘..; 0 do ;‘\(f'dr ¥ || 98 o Saigl 24 SPUARSr <ot 3434 2414 2 B B | ala it Sho e SBel d sg6 has 84 Y. .’l-\8 v2o I gA‘ o e 8. A 4 ey P TH, v 04L . 8 gaxon Motor } th) shi o/ 108 “Tob. i 27% 388 Copper 27 0214119 Senn. Tapber = ¢ rozidg iaozid s Trans-Cont. Rl i : ge 41%] 3 ettt B | Ui ey iaglEd,, Tt Fl ie 4 nion s T a4y 7 kB7 / Enion 01l . Prod. .| 61 !136% g ne yst Foed Frod. 100 t osse| 90k 35 U. 8. Rubbe . 110014 ” 1115 B R < YR 15 | 18k 15% . pfd, Stores | 751 3% | 13%| 9% Unit. Retail < N 1%l 71! 7 xUtah Copper .o] 71 , 504 B Le R 285, oRN G e 3% 38 Wa! s e 26% do pfd. 'o P %|'26%]| 267 ity oo - T o st 54 et i i ’ Shel 83% Woolworth . Van Il 58%! 5815/ 23 Westinghouse - | 59%| o] T 2 e wror e Jae e O 'Bo'NDﬂ"‘-z‘.rvﬁm = 3'47‘““‘23‘:317nt90-2" 1550 ‘T”W |90.7 89.50189.50/8 ‘lO 49 1:; .- 'lgg'gg!iﬁ.oﬂﬂ'% 3:1,.20 G 5 ) 0.70(80. 70190, ) b L ogl T T 2R AR . f[oolﬁlzi"%; 97.32 g 4 do 4th L |97 881975 e 197, g 0 Sthoana. / . ’ YLt T do Gth I%s. . g 7 oy ey el S L L g—#‘;ll'i;_‘_dlvldend. : s Great Increase In United States Production of agricultural type tractors, ‘says the Wall Street Journal, in the United States during the current year is esti 'mated at 300,000, This compares with 176,000 turned out in 1919 and 7,460 in 1913, the first year in which the small ricultural type tractor demonstrated its efficiency and worth to the farmer. Fol }lowm’ table shows tractor produection in the United States since 1013, with esti mate for 1920: IS i rsisssepresseis N ARO OV cvin o iions sisvva s onie 10008 : WD o rovsinnonpraniiinins SAOOO » G", . cin it iiiniaanones 28,000 AT s iviv o siianrsnne SRIOO MR . iciiiihin s inninie i 200000 BRED by e s soo L TRONE IOM® .oty nliidrs 300,000 *Estimated. At the end of 1817, there were about 34,370 tractors in use on farms in this country. At the close of the following year there ware ahout 140,000, and it is estimated that there are now nearly 250,- 000 being used by American farmers. The extent to which American rtactors are heing used by foreign agriculturists is re vealed in the fact that about 12 per cent of our total production of tractors since 1916 has heen exported. A tsbulation shows that the greatest number of tractors exported in one year to any country were taken by England in 1918, when 8,862 American tractors ,wora imported. The fact that in the fol lowing year only 2,273 were shipped to England indicates that tractors were evi ‘donuy playing a large part in that coun try’s war time endeavor to cultivate every inch of available soll ~ Italy llkewise looked to the tractor to increase its crops during the war, From the importation of only 136 American tractors in 16017 her demand ran up to 5,406 in 1918, then dropped to less than than 3,000 in 1919, F}rnnca has been taking o steadily inereasing number of tractors from us each year, and Rus sia’'s requirements were heginning to ns sume fair sized proportions when chaotic conditions practically closed our market there. Canada has purchased about 17.- 000 Ameican rtactors since 1918, and while Australia and New Zealand were importing a negligible number of our tractors prior to 1919, Australia took 206, and New Zealand imported 365 laat year, Argentina’s importation of 276 tractors last year was alomst ten times a 8 many as the total for the three previous years, and Peru shows a simlilar large in crease, OITIES SERVICE QUOTATIONS, (Qumlt!lom l;urnlnh% by(‘ Atlultu) ()fﬂu‘ en . Doh /mgny. o x id. Ask, | Qitien Boryvies P.. .ivesvis 1 g % Cities Service Deb. “C* " 100% @lO3 Cities Service Bankers shares. 40 @ 41 Cities Bervice c0mm0n.....,.392 @402 Empire Gas apd Fuel pfd..... 88 91 Cities Service Deb,. “D",..... s 100 \ . | | vy -~ NEW YORK, March 12,—Vigorous buying at the opening of the stock ‘market today caused upturns of from fractions to 10 points in all of the ‘avtive issues. . ~ Steel common sold at 100 1-8, an lupturn of 1-2. Baldwin Locomotive 'rose 1 8-4 to 122 1-2; Crucible Str\eﬁ 2 1-2 to 231 and Bethlehem Steel B. 1 point to 93 1-4. General Motors led the motor group with an advance of 10 points to 333 | 1-2. Pierce Arrow rose 1 7-8 to 66; IStudebaker, 118 to. 98 3-3. and | Chandler Motors 2 3-4 to 147. Mexican Petroleum, selling ex-div idend of 2 12 per cent, rose 3 points to 188. Pan-American Petroleum sold ex-dividend of 1 1-2 per cent and ‘after receding to 93 7-8 rose to 95 3-4, a gain of 1 1-4 from yesterday's close. Texas Company was 2 58 higher at 2000 5-8. Reading . was most active of the rails advancing 1 1-2 to 85 1-4. ~ After its display of strength, the market was subjected to pronounced pressure causing & heavy tendency during the forenoon, although there seemed to be good buying on all the reactions. - Steel common dropped over one point to 99 1-8 recovering again to 99 5-8. “Mexican Petroleum dropped 2 1-2 to 185 1-2 and Pan-American Pe troleum yielded over one point to 94 1-4, General Motors after selling up to 333 1-2 broke 8 points. Studebaker yvielded 1 3-8 to 97. Rock Island ad vanced to 39 and then yielded over 1 point while Reading fell 1 1-4 to 83 7-8. The lower priced oils were in demand, Sinclair selling up to 4 1-4; Trans-Oil to 28 1-2 and Middle States Oil to 38, NEW YORK CURB STOCKS. The minrket opened steady. Stocks Opened. Aetna Exp b ke i est suey BN Anglo Am. Ol .......o..coev. 2T% @ 28% Consolidated COpper ...v..e.. 4%@ 6§ Cosden oOil Vh s biadige e v o kBN 9 Fouston: O ... iisivisnnsaifl - DIS 6 Indiapn Pipe .. .. iciniiia 81 309 THter Bete . vuniass i s 0 SEL Lehigh Valley Coal ........., 86 @ 88 Magma : . iasEeavEd kg D LK 38 Marcon AOFNIE RS SRR eT AR MRPFItE O .o s tvevees X 21N Mittwent- O s cocissevivnn 10§ Mid el RV & iivias s aats s B ITe Norih American Pulp ......... %@ 6% Ohio Oil Vikie s vedcaes ke o BTE GO BN Prairig Oil Asg veduresr e REE .WB RG Subincrine "RoMt .. . sarvevie 30 B 17 8, O -NoWw YOPK . iiicieses 408 BEIS 8 O. Now Jersey ...c.ce+:..780 @785 B O, Oalifornia ..i.cseass:.943 @348 8 O InTINOR i msrivineocßis SESS Dhton e TOR ol ikv i V2OO 3136 Victoria tOIL iy os Vi sdda v s dnne D 248 1% Cons: ATIBORI o isisiaicesases s L@ y NIRIUMBR 8 . i s ssavabsy DRRE ITW Boston & Wyoming Oil .... 1% @1 3-18 Glen Rooki O ... .00 .ovanve K‘rig 3% Island Oil & Transport ....n. 4% 5 U. B Bteamship .......eeo« 31%0 3 BEPUIDR s, & sv v serasce. A =0 . B Car Llght L i s cibvreve 2%2 2% Boone <Ol . gaicsvnissssnsoscoy &0 4% BORSoS . W iirineravsiasiees il 08 3L SalCeOreel 'L viiianiiessie sBE 0 BS AMEA M.« s o v civan v i Rel Gl Bekß ASBREIY .k voi oo Tiivesievie s » JOOC NS G 2 "hnli?wers MOROPE .. ccvsrearny SIS BIE PRI R e iadiss v SR 830 Fedoral O ii.it: insvisesure BHE A Gilllan? 43%8 441% INE PRCS. v viaseiPrani e BE 71 Kerr TaNe idieinsianiessnve il W R MEMEN » . Siveiivigrvibesany, B ENEN MOWIBIOE iivssrconrsevcnvinis 08 & S 8 WORBAHIY |, inin s e vven vae i3B ol MG Oitar O . . vidtiiniid R BT POOTIONE .« vnardbannvmns iropns 40 8 45 Bhillips MOrrIN ....ocrcsveens 4 @ 7 Perfection Tire (new) ....... 4 @ 4% Phillips Pete. .....c..000000. 40 @ 40% BWOSEE: .;o 4v i aia haatg st N R BEellY el iavsind s nngianpns. 3R 11% Simme Pebe, i i deir i ri BN 0 AR B OO o ist v sos 1D N 8 BIADLON .. sensebenssssssrnny N @ % Tob. Products ......s.senseoq 1T @ 20 VB BME . coiiviamisieaiviy, RN 3 . B BAAY. ccsnsissies e bty %!53 z\‘ Wwayne Coal ....corecsiboogoss g Boone Oil :‘l‘/-0’ 4% White Oil ...ciessnarsonnnes 29% @ 20 GOIAWYN | 4 e varissnsinesr 38 @ 25 P. LORILLARD STOCK OFFERING. At the annual meeting of stockhelders of the P. Lorillard Company the plan to offer 60,622 shares of common stock was approved. Shareholders will he of fered 40,411 shares on a pro rata basis and the remaining 20,211 shares will be set aside for sale to persons connected with ths management and operation of the company. The steck will be sold at par. and stockholders will have the right to subscribe for about onea share of the new stock for each six shares of stock now held. ATLANTA LIVE STOCK MARKET, (Corrected by W. H. White Jr., President of White Provision Company. Gond to cholce steers, 850-1,000, 10.25@ 10.75. - Good steers, 750-850, 9.756@10.25. j Medium to good steers, 7T50@850, 9.00@ 9.60 Good to choice beef cows, 750-850, 8.00 @8.50. Medium to good cows, 6560-750, 7.00@ 8.00. Good to cholce heifers, 560-650, 6.50@ 7.50, (The above represents the ruling prices on good quality fed cattle. Inferior grades and dairy types quoted below.) Medium to Eood steers, 700-800, 7.50@ 8.50. Medium to good steers, 700-800, 7.50@ 7.50. Mixed common cattle, 5.00@6.00. Good fat oxen, T7.50@%8 50 Good butcher bulls, 65087 50, Cholce veal calves, ( 7.00@8.00, ‘ Yearlings, 5.50@6.50 Prime hogs, 165-225 14.00@14.25 Light hogp, 135-185, 13.006013.25, Heavy pigs, 100-136, 11.606@11.75, Light pigs, 80-100, 10.00@ 10.25. (The above applies to good quality mixed feed hogs.) et bt atm e CHICAGO LIVE STOCK, CHICAGO, March 12.—Hogs: Receipts, 22,000; market, mostly 25 higher; bulk, 14.50@16.80; top, 16.00; heavyweight, 14.00@15.26; medium, weight, 14.76@15.90; light weight, 15.40@16.00; light lights, 14 50@ 15.00; heavy packing sows, smooth, 13.00G@13.60; packing sows, rough, 12.26@ 12.85; pis, 13.25@14.65. & Cattle; Receipts, 6,600 market, steady to 25 lower; heef steers medium and heavyweight, 13.76@15.60; cholce and prime, 13.76@15.50; medium and good, 11.65@13.76; good and choice, 12.60@156.00; common and medtum, 9.50@12.50; butcher cattle, heifers, 7.25@13.26; cows, 7.10@ 12.265; bulls, 6.76@11.00; canners and cut ters, cows and heifers, 4 76@7.00; canner steers, 6.00@7.50; veal calves (light and handywelight), 16.00@17.00; feeder steers, £.756012.00; stocker steers, 7.60@11.00; stocker cows and heifers, 7.00@9.26; stocker ealves, 7.76@11.00, Bheep: Recelpts, 9,000; market, 'sharp, slow; lambs steady; wooled lambs, 25 to 36¢ lower: lambs (84 Ibs. down), 17.00@ 19.66;: lambs, culls and common, 14.00@ 16.75; yearling wethers, 15700@17.75; ewes. 11.00@14.60 ewes, culls and common, 6.00 @10.76; feeder lambs, 15.756@17.00 Safes and Vault Doors [f=—==g=wm of all kinds, new and ! second hand. Agent for | ‘ Hall’s, Vietor and Under | L || weod. Expert opening and 0 § repairing. L LA Atlanta Safe Co : ‘ anta >aic¢ Lo, e : = a 64 W. Mitchell Bt, J Muain 4601, WALL STREET DOUBTS NEWS | ABOUT GOLD IMPORTS TO U.S. | . By BROADAN WALL. ; NEW YORK, March 12.—Although there is the highest authority for the report that gold in large volume js actually on the way to New York from London no official announcement of the fact has been mad and for that reason Wall Street Thursday expressed doubts regardin, it. The result was a wave of profit taking that closed some of the most active issues net lower. But this selling was not of the be character. It came spasmodically and most of it was just at the close.. The action of foreign exchange in advancing to a new high recor: for the movement, with sterling at 3.82 1-4 together with the fai that call money was plentiful at 7 per cent and time money was to be had at 8 and 8 1-2 per cent indicated that the banking situation h changed. It is not clear why official announcement of the gold ship-# ment is withheld, but shipment of this same gold from Berlin to Lons don was made secretly. Perhaps the bankers want to execute som eoup in the stock market. " In the early trading new high prices for the movement were recorded in General Motors, Chandler, Stude baker, Reading and several inactive jssues, notably American Brake Shoe preferred. Business was on a large scale. The reaction in the market toward the close was not severe enough to mean anything more than a fluctuation, Leading borrowers of money said the real reason for the advance in the stock market at this time is not the gold imports nor the stock divi dend decision so much as it is the fact that the Senate has asked the Federal Reserve Board what about usurious rates being charged by the banks. For several weeks the mar ket for stocks has been at the mercy of the call money market. With in terest rates held down stocks can not help but do better. Today be ing Friday when stock market loans carry over to Monday the money market will be tested in such a way as to give a clear idea of the Im mediate future of the market. Pay ment of the income taxes on Mon day will make a heavy drain on the banks. At the bulk of the checks are not to be mailed until Saturday the strain may not develop until next week, for it will be Tuesday or Wednesday, and may be a week later, before the tax checks can reach the banks. Therefore easy money might easily prevail for a whole week but the sentimental influence of the situation will be felt today. Several important pools are ready to take an aggressively bullish position if they get the least encouragement. Automobile stocks were the fea ture of early trading. General Mo tors was expected to perform won ders and it did. Piérce-Arrow joined the advancing column and made good all the expectations of its friends. Studebaker and Stutz were strong in expectation of interesting developments. Announcement that George J. Whelan was going away for a month or so resulted in a 5 point advance in A. T. securities. The stock divi dend that American Tobacco di rectors are planning may not be announced for several weeks but it is in the minds of the market makers. Leading American captains of “in dustry are canceling plans to do big business with Europe. It was 'said Thursday that several gigantic corporation schemes has been en tirely abandoned. Reports of butter and other good products into the United States from Europe together with large imports of manufactured articles now plan ned is something of a paradox. The reason is that vast quantities of merchandise were accumulated in neutral warehouses of Kurope ready for sale to the Germans at the close of the war, The Germans are will ing to take the ‘stuff, but can not pay for it and the high prices in the United States make reshipment here profitable. After the American goods are all imported into America Eu rope will have great quantities of her own products to be gold here. Owing to the disparity of exchange rates American importers can make handsome profits buying on the Continent for shigment to the United States. A tremendous growth of im ports is therefore in sight with con stantly declining export trade, DIVIDENDS DECLARED, Pe- Pay- Holders (‘fompany. Rate riod able of Record Am. B. Bh &F. 1% 8 Mar. 31 Mar. 19 40, pia;:. . .. /B Mar. 31 Mar. 19 Am. Win, GI. . ‘3 e A L MR B do. pfd. . ... 1% Q Apr.: 1 MErii3 Cont. Candy . 26c Q Apr. 20 Mar. 20 Guan. Bug. . .$1.26 Q Apr. 1 Mar. 17 Loose WBllpf 1% Q Apr. 1 Mar. 18 NYO&'W: | '} o T APY. 18 AR 8T SAT T RTRo,e TR AR \'5“");(;‘; NSO il N |lB !SECURITIES SALES } g INVESTMENT SECURITIES | PHONE Direct wire to our New York Correspondent GRANT 8156 |52 2|WW2200 Hayden. Stone & Companz' ATLANTA (£ D Members of New York Stock Exchange. JG TT B 3 e S e e TO INVEET 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 seekers need not waste their time or ours. If inter ested, write, Box 1072, The Atlanta Georgian, Atlanta, Ga. : ‘ . & Regulations Issued . For Refunding Taxes STRICT regulations have been is sued by the Bureau of Internal Revenue to safeguard the govern ment in refundinz taxes on stock dividends, the collection of which was held unconstitutional by the Bupreme Court, % 2 In applying for overpayments &le them, individuals must set forth full details of the stocq dividends re~ ceived, together with a statement of any subsequent sale of such shares, and must present statements from the corporation which distributed the dividends as to the amount paid and the year. When the claims are verified, the taxpayer ”\ay be reim bursed or have the overcharge ered ited against any tax installments to which they are liable. It is expected that the amount to be refunded by the government wiil be lessened greatly by crediting against income taxes this year, the first installment of which is due Monday. l WEATHER FORECAST l». WASHINGTON, March 12.—There wi be rain tonight over the greater porti of the Atlantic States followed by generais ly fair weather Saturday. There will a considerable fall in temperature, nce%‘ in the Florida peninsula. q Forecast by States. it Georgia—Local rains this afterncon and, tonight; colder tonight in north and wes# portions; Saturday fair, colder. ¥ North Caroina—Rain tonight, possibly: turning to snow in mountains, colder im interior; Baturday fair, colder. South Carolina—Local rains tonighty cojder in west portion; Saturday fair, colder. s Florida—Partly cloudy, probably loeg rains tonight and Saturday, colder tonig! in northwest portiou; colder Saturday ' north portion. A Fixtreme Northwest Florida—~Colder and generally fair tonight and Saturday. ) Alabama—Much colder and generaldy fair tonight and Saturday. i Mississippi—Fair much colder tonlght.; probably frost in interior; Saturday fi h'.f Tennessee—Fair, much colder lom‘ttr B‘Murday fair, colder in extreme east por-‘ tion. : Louisiana—Fair and colder; frost im north portion; Snturdn{ fair; colder im’ southeast poptigm; light to moderate west winds. . LEE RUBBER EARNINGS. 3 T.ee Rubber and Tire Company repo for the year ended December 31, 1919, earnings after all charges and federal taxes of $471,805, equal to $3.14 a share on the, 150,000 shares of common stock”outst s ing, of no par value, as compared wi . 8230‘348. or $2 a share earned on 100,000 shares of common stock in 1918. Total net sales for the year amounted to r.-, 583,993, an increase of $974,069 over 1918. President Watson says: ‘“‘Substantial ad ditions have been made to the plant which will permit us to increase production enable us to take advantage of the lm creased demand for our product, which the present tima ia the largest in the his tory of the company. The company shoukd soon be in a position where the direct ’ can give consideration to the distributl of such part of the earnings as condi tions may warrant.” o NEWS OF OIL FIELDS. y The annual report of the Phillips P troleum Company for 1018 shows an | crease in property values of $9,789,679. : over hook figures, or sl9 per share om the outstanding 511,000 shares of stock. The consolidated halance sheet shows the stock to have a hook value of S4B per share, '\\'et earnings from the operatie for the ‘vear amounted to $1,727.664. Farnings for the last half of 1919 were nearly double the earnings for gu first half. VIVAUDOU DIVIDEND. NEW YORK, March 12.—Directors of Vicaucou Inec. have deciared a quarterly dividend of &0 cents a share on the common stock, payable April 1, to stock of record March 15.. Am initial dividend of the same amount was declared three months ago.