Newspaper Page Text
3§§_ fiale*s Cotton Sold Here Thursday at Record Price of 43 Cents, Basis—Futures Soar to New High Record—Big Rise in Stockfs,'
IR ;:‘-i‘f'"ll
lU. S. WILL ISSUE COTTON l
s e T s i e e
Auanta bank olearmgs Thursday ..... .. .... ..--$13,884,097.40
DS G 0 INEE FORY ... i. ciuecuine su seesis BN LT
—_—a
BRI ... i s e e Ry we sk RTINS
Same day last week ...... .....:. ... ...%.cn.. 1001880818
DR ONE TIEE ..o Y i e T
o N .
By VICTOR BARRON.
Spot cotton here Thursday sold at thehighest price in history.
+ J. R. Ellis Jr., president of the Cotton Warehouse Company, announced
that H. H. Fitzpatrick of Madison sold 335 bales to J. B. Gordon, local
T TP representative of the Latham-Bradshaw Company
M*‘i'fip% of Greensboro, N. C., at 43 cents, basis middling. The
POO o transaction was handled by the Cotton Warehouse
A %%&% Company. Expressed in dollars and cents, the trans
b S B action involved an unprecedented sum for this num
-3 ‘3?’ "5";9@753_;?77:5;;} ber of bales of that grade of more than $72,000.
A% s 3 Stimulated by further heavy rains in the eastern
"; belt, together with the vigorous rise in securities and a
j"‘ i-‘afl‘{"* marked reduction in the inspected stock of cotton at
j B 9 B Now York, the bulls took hold of the cotton market early
Fsae: < ame <@l 'hursday and hoisted prices to new records for the
eet B movement. First prices at New York were 3 to 2%
e T points higher. After the call heavy buying appeared,
N «d by shorts, trade houses and spot firms. Offerings
"fgi* were light and confined to realizers. Before the end of
‘*1‘):""%&% i thefirst hour and a half of trading futures at New York
o R § had risen to a net gain of 40 to 56 points on most active
o & % positions. May rose to 38.26, while July moved up to
s o 35.40, October 32.32, December 31.43 and January 30.96.
March touched Wednesday’s record of 40.24. Futures at New Orleans fol
lowed the course of the New York market, exhibiting a net gain of 27 to
46 points, with March rising to 40.10, May 38.05, July 35.36 and Ociober 32.-3.
Less apprehension with regard to the political crisis in Gremany and
large exports also inspired buying. The market also was stunulated by
pesimistic crop advices and continued rise n spots, wth demand showing
improvement.
CHICAGO, March 18.—Trade was
rather light in corn at the opening
and scattered commission house buy
ing caused a start of 1-4 to 1 cent
higher. A reaction set in later for
May and July, caused by heavier
selling.
After opening 1-4 to 1-2 cent high
er, oats reacted on realizing sales
through commission nouses.
Tz:&de in provisions was quiet, with
a higher opening on scattered buy
ing.
| | | , 15:—6]—15{5&,"'
. | Open | High | Low M. | Close
Corn | B 7
Mar. 1.60 1.61 1.60 1.61 , Y ortick s
May 1.67%| 1.59 1.67%| 1.681%| 1.567%
July 1.517)% 1.52%] 1.650%| 1.515] 1.501 f
Sent, 1.47%| 1.48 1.463 | 1.473%| 1.46%
Oats | | \
May | .87%| .88%/| .87%| .88% 87%
July ; .80 .81 .80 .815,1 79%
Sont, 0% .70%& 693% | .70%5 L 7014
Pork | | ',
My [rreievhoinnre o cadl i o CHEB R 0
July f civndsl RN TR 18810
Lard ! !
May 21,90 {21.90 [21.90 '{21:80 ' [21.60
July 2%:67 |22.57 |22.57 |[22.57 |22.37
Ribs | | l
May 18.95 LISAQS [18.95 18,95 [18.82
July |t eelalnd +e.-119.35
CHICAGO CAR LOTS.
CHICAGO, March 18.—Following are re
celpts for today:
RN SLVs s b b i 6
BDePR iek SN
BREEI L ey e S eAR 52
PAN SE AR OR IS R IR Y | L L
ST. TOUIS LIVE STOCK MARKET.
BT. LOUIS, March 18.—Cattle: Receipts,
2,200; market slow; native beef steers,
10.60@13.75; yearling beef steers and
heifers, 10.00@13.00; cows, 9.75@11.75;
stockers and feeders, 10.00@11.50; calves,
15.00@18.00; canners, 4.75@6.50.
Hogs: Receipts, 12,000; market, 15 to
25¢ higher; mixed and butchers, 15.65@
16.30; good, 14.76@15.75; rough, 11.76@
13.00; lights, 16.00@16.30; pigs, 12.75@
16.00; bulk, 15.85@ 16.26. .
Bheep: Receipts, 7.50; market, steady;
ewes, 13.75@14.00; canners and choppers,
5.00@8.00; lambs, 18.75@19.00.
JACKSONVILLE LIVE STOCK.
Hogs, receipts, medium ; prospects,
steady; choice heavy, 13.75@14.00; good
heavy, 13.75@14.00; rough heavy, 12.50@
13.00; lights, 12.75@13.00; heavy pigs,
11.75@12.00; light pigs, 10.60@12.00.
Cattle, receipts, light; prospects, steady;
steers, 7.00@11.00; bulls, 6,00%3.00; year
lings, 6.00@7.50; cows, 6.00@8.50; veal
calves, 7.50@11.00; canners, 3.60 up.—
Williamson & Dennis, March 17.
GRAIN MARKET OPINIONS.
Wagner & Co.: “Failure of the campeign
to reduce corn receipts may have con
tributed to present corn market.”
- - .
Press Bros.: “We feel satisfied with the
advance corn has made and think the
part of wisdom to secure profits.”
. . -
Lamson Bros.: “The high prices for the
futures is the chief/ bear argument and
many gniek breaks occur as the market
continues its upward course.”
.Y &
Ware & leland: “‘Further rapld upturns
whenever the pit becomes oversold are
to be expeeted. We would hesitate about
foilowing the advance.”
. - -
Rartlett, Frazier & Co.: “1t would seem
reasonable to have sillis sort of a sel
buck even if only a temporary one.”
COTTON
The market is advancing. Con
sign us your cotton and take advan
tage of the good spot market in At
lanta. We can sell both high grades
and low grades.
The Cotton Warehouse Company
25 vy Street Atlanta, Ga.
THE
> Exports from Boston Thursday
totaled 17,000 bales. The outgo Wed
nesday amounted to 31,436 Dbales,
bringing the total so fay this week
up to 63,306 bales. Since the first
of the season exports total more than
4,820,000 bales, including the 17,000
bales shipped from Boston Thursday.
The trade js awaiting for the final
census report on ginnings for the
season of 1919-20, which will be is
sued Saturday. Recently the Na
tional Ginners’' Association estimated
the season’'s ginnings at 11,100,000
bales. The government estimated
that crop at 11,030,000 bales, without
linters. Saturday’s report will com
pare with 10,322,148 bales ginned to
‘January 16 last, against 11,048,652
bales to the same date a year ago.
Ginnings to March 20 a year ago
totaled 11,906,480 bales, and the final
figures for that crop totaled 12,040,-
532 bales.
In order that the government's es
timate of 11.030,000 bales be con
firmed Saturday’s report must show
that 707,862 bales were ginned during
the final period—January 16 to March
20.
The srop in 1918 totaled 11,302,375
bales and 11,449,930 bales in 1917.
- @Georgia's ginnings to January 16
last totaled 1,650,621 bales, against
the government’'s estimate for the
State of 1,730,000 bales. The State's
crop for the season of 1918-19 totaled
2,116,032 bales, according to figures
of March 20, 1919,
GRAIN GOSSIP,
By JOSEPH ¥. PRITCHARD.
CHICAGO, March 18.—Egypt bought
147,000 tons of white corn flour in this
country Wednesday and made inquiry for
50,000 tons of yellow corn flour. Traders
believed this transaction was forerunner
for further export buninsu‘
- .
' Bears in the corn market continued to
put out short lines at the opening in the
belief that the marke was ripe for re
aetion. After selling sharply lower dur
ing the morning prices took an upward
trend and resting spots were at gains
of 1% to 2%ec.
- . -
The prospect that Germany’ would be
voted credit as one billion dollars for the
purchase of foudstuffs and raw materials
n this country attracted a great deal
of attention among the traders on the
board of trade. llg fcredit is advanced,
traders said, Germany will take a con
siderable quantity of corn, as well as
meat and lard.
. e
While ry futures were 3 to 1c higher,
more deferred months were Y%c lower,
The strength shown in rye largely in
=~ympathy with price gains in corn and
oats.
- . .
Oats ‘'was higher, with contract grades
selling at 101¢c over May. This was the
highest price ever reached in Chicago.
Traders considered it certain that the
May future would duplicate the action of
May corn—advance to the price of the
deliverable grade. |
. e 0
Hog products had a better undertone.
The possibility of loans or credits to the
Central Empires and the prospect of
large purchases of meat and lard when
credits were available encouraged trad
ers. The hog market was strong, Wwith
receipts light.
William Salomoen and Company, 88 man
agers, are organizing a svndicate te under
write $5.000,000 of 7 per cent cumulative
preferred stock of the Otis Steel Company. 1
Proceeds from the sale of the stock will he
used to construct eight new sheot mills, |
doubling the present sheet mill capacity of
the company. Of the total to be received
from the sale of preferred stock $2,500.000
will be used to increase working capital.
NEW YORK, March 18.~-The cot
ton market opened firm today at an
advance of 3 to 29 points on favor
able Liverpool cables, strength in se
curities, further rains in the eastern
belt and a sharp reduction in the in
spection stocks here following an of
ficial recount.
All months with the exception of
March made new high records for the
movement, but toward 38 cents for
May and above 32 cents for October,
heavy - realizing was encountered
which brought about a moaerate re
action. The undertone, however, re
mained steady and at the end of the
first fifteen minutes the list showed
net gains of 20 to 24 points.
The market rose to new high ree
ords during the late forenoon, with
May touching 38.26, July 35.40 and
(_)(‘tober 32.32. At the highest the
hs_t showed a net gain of 40 to 56
points, except March, which held at
40.24.
NEW YORK COTTON.
| ’ ! 112 IPrev.
_____ |OpeniHighl Low| M. | Close
March . .. 140.24{40.24|40.20140.24!40,15—2(
May .. .; “137.85 38.26»37.85“38.18|37.7]~73
duly ;o i .»3«90’35.40;34.90 39.33(34.84-85
At ..fl{l.flfi 32.:52{31.95’32.27 31.92-95
B, s S ...31.12|31.43131.1)‘31.42‘:'.1.00-02
an‘ VA da ey 301_3}:!30.56 30.65/30.96]30.50-52
NEW ORLEANS COTTON.
| J ' ‘l2 [Prev.
—___ lOpeniHigh| Low| M. | Close
March .. .. [39.90/40.10/39.88/40.10/39.83
‘May .. ~ .. [37.75/38.05/37.70|37.98/|37.66-70
July . ~ .‘,‘:;4A90135.36|34.93 35.24/34.90-92
Oct. .. .. ..|31.77/32.18)31.77/32.02)31.73-77
Dgo. <., ..|::|,01‘31.24f31.01 31.16/30.90
JAILS o :|7x0i55|30‘70;30.51130.70[}&;1
LIVERPOOIL COTTON.
LIVERPOOIL, March 18.—-Spots opened
in improved demand. Prices firm, sales
6,000 bales
American middling fair, 33.84: good
mnfddling, 30.64; Z2ully niddling, 29.64;
middling, 28.64; lew wdddling, 25.34; good
ordinary, ¢2.14; erdinary, 31.14.
Kutures epened steady.
| 12:00| |Prev.
o |Open|P. M.|Close|Close
March .. .. .. ..|26.56/26.72/26.84]26.44
April .. e . .45...,.]4...,{26.10]25.69
May .. s oo +.|25.45/25.60/25.66)25.34
June .. .. .. .. fi....1.....126.31124.84
JUY v i e salhy |24A60[24,67 24.86!24‘49
BRENUNE i v anv 24.09:.“..124.34;23.99
Heptomber .. oy .. ~4“..1...A.[23.69123.36
Qotober .. e ek ‘22.95]22.97123.09122‘80
NOVembEr .. ¢ o 4 Josovefeses.l22.64/228.41
December .. .. .. ~1..’:1.75!22.17’21.5x
SEBURYY oy s 21485.....;21‘9521.72
February .. .. .. 121.54|...../21.79{21.562
Closed steady.
COTION NOTES,
flugh McElroy wwes: “Shewers Aare
predictea for the Southwest, where they
will be welcemed, as “Wednesday's first
crop weather repor. ‘bdicated thal seC
tlenh wes becoming toe dry and that
rwins were useded (o (moilitate planting
«nd germalpnation The wtuanon conunues
Yulilah as ever.'’
. . S
DeGoemuns wires: ““Wa sull hetd &
our viewe that <he market wil' ultiinstely
ses higher pricas Shauid say g-u‘-”-
action oeccur, we advim ‘e purchase.
- . .
[.tverpesey bought nesz manths. ‘\lfiyv
Orleans sold. \Wall etreet sed July's
arouud 32 ceuts The market t-eh the
cullens very ®usy.
Weathar is uufamla in the Best
& .
Cartifireimd Stock of Cottan tn New
Tork I 8 now Apww te 11,220 %wales, which
waves «barts In nesr towesths helpless
Thare aserns te ue no'hing bea the loug
s7ds for ths tiue belvg.
s
The weather map shews tostly clnody
over the balt; @0 rwin, excejt in parts e!
Alameiaw snd Georgia; beavy et DBdaotn
and Acgusta: warmer; tamiecatar te L
iute Nerth Taxas,
. - .
ldverposl cables were €oe 1t 1035
petnts higher. The market apenad Aesdy
at 11 te 15 patots advanca, A< midday
the market was steady at o Dot wdvados
of 11 tw €l pofiats, lmiproved Jemand
tar spot cotton ut 7 polats adesace;
Btddling, '8 64; wmies (000, lashudive 5,
900 Ampicut; ‘uports, 4,008; Qaly
Aiuerican.
. » .
Bpot ~ottwn it Southern markabs Wed
aeadny weore guoted anchangsd to i
points agher.
“The ruurket 8 being wawastes by
(he rongestion in *he mnear moantha, Aas
there 1s still & largs shor: bdexasrest.” miye
Cleveaburg of New York ~i* @ owpe~
tese, o uo spot Cottos caaA ceame n-re( 2
even pressiil prices tUghar q’.‘tvm‘
seem fuevitable.” S ‘
The Times Picayune sa=s: ‘“‘Sentiment
was rather bullish Wednesday, American
markets appearing to take a more favor
uble view of German news than Liver
pool seemed disposed to take. Bullish
inent!mem was further bolstered up by
*he strength of near positions due to the
scarcity of cottonm available for tender
ing er contracts, and by the continued
‘raina Ip the eastern halr of the bott,
which threatened to further delay crop
oreparations. There has been a long spell
0! wet weather in the east of the Mis
wissippl River, further rains, heavy in lo
culities having fallen overnight, with
prospects for more molsture in that sec-
Bom in the immediate future. There
fere, farm work in the eastern half of
‘he %elt updoubtedly has been delayed
" all the more, 1t is probable that sewl
meothly private &ror arcou /s fer that
8 v&in, will be tess ‘awerable.’”’
COTTON MARKET OPINIONS,
E. F. Hutton & Oo.: “The position es
the lncal stock is e&till restrcting selling
and gives rcnewed.cor.lfld‘eneo to the bulis.”
Moss & Fergusen: ‘‘'urchases on reces
sons seein the best policy for the pres
eot.” =
;. . -
. Yabbard Bres, & Ce.: "It is wall s be
ecareful about following the advaucs al
these prices, although the market shows
no xgn of weakness.’
| NEW YORK PRODUCE MARKET.
. NEW YORK, March 18-—Petroleun:
Strong; crude Pennsylvania, 6.10.
| Turpentine—Steady; 2.27% @ 30.
~ Rosin—Steady; common, 18.00.
. Wool—Firm; domegtic fleece XX Ohio,
6231.00; domestic pulled scoured basis,
75@1.70; domestic Texas scoured basis,
1.00@1.75,
Hides—Firm; native steers, 35@37%;
‘branded steers, 32.
Coffoe—Weak; optiens opened 4 to 16
peints lower; Rio No. 7, on spot, 16@16%.
Rice—irm; domestic, s6@ls.
Mnlasses—Steady; New Orlcans open ket-
A 1.82@1.12; black strap, 26.
saw Sugar—Firmer; centrifugals, 11,00
@11.79.
Refined Sugar—Demand improved; fine
granulated, 14.00@14.50,
Potatoes—lrregular; nearby white, 5.00
@11.00; Bermudas, 6.50@14.00; Southern
swoots, 7.00@8.00.
MReuns—Firm: marrow choice, 11.50; pea
ehoice, 7.50G@7.75;: red kidney, cholce, 141,
Dried Fruits—Firm; apricots, choice to
tancy, 29@37; apples, evaporated, prime to
fancy, 14@26% ; prunes, 308 to 60s, 156@23;
60s to 1008, 10, @ 14%; peaches, choice to
fancy, 20@?25; seeded raisins, choice to
fancy, 21@29%.
BUTTER, POULTRY AND EGGS,
NEW YORK., March 18 -—-Poultry: Live
and firm; chickens, 28@35; turkeys, 46@
a 6; geese, 40@ 45,
Butter: Market, steady: creamery ex
trns, 7Y @7l; firsts, 65% @69; higher
wcoring, 68@72; State dairy tubs, 46@66%;
renoyated extras, 64@0505; imitation cream
oy, 40047,
("heese: Market, firm; State whole milk
specials, 29% @3l; fancy. 28@29: Wis
~onein lower grades, 14@27; whole milk,
fancy young Americans, 32@33; fair to
good, 106 12 lower grades, 4@9,
KEggs: Market advancing, 53@50; nearby
white, sane - “79%4: hrown fancy, 49@50;
vetrn "
WHAT ABOUT THE FUTURE? |
“For four years American manufaturers
have been literally swamped with foreign
orders and the export trade of the coun
{ry has grown from $2,100,000,000 in 1914
te $7,700,000,000 during the year just
pussed,” says The World's Markets, a
monthly publication issued by R. G. Dunn
and Company. ‘““The great propsperity
due to this enormous increase in business
has at the same time resulted in an ab
cormal domestic demand for merchandise
of all kinds, Some months ago it became
apparent that the manufacturers could not
Xeep up with both the foreign and do
westic demands. ‘
“In this emergency some manufncturera‘
adopted the policy of taking care of home
demands first and assigning the small sur
plus that remained to their foreign custom
ers. In the majority of cases the manu-;
tacturers argued that it was their domestic |
trade that made it possible for them to |
build up their business and therefore the
domestic trade should be given every‘
preference. This may be true in the main, |
but sight should not be lost of the fact
that an enormous foreign business has
beéen responsible for the present prosperity |
i New York Stock Market
. | I 112'?60(1fn’v'.<
STOCKS— it tew L JOue
AlUs-Chal: ;. i 43%| 43%| 43% 1-9
Am. Zine . . . feeiiificnni]ieans By
Am. 8. &(_'iom. g s eRt 28
Am. Agricul. . 3] i
f:xr:: T l gz’x ggl/, ?fsf so‘l:
Am. Car Fdry. ..[146 142" 142 "
Am. Cot. o vafrasiafienaifonses
'Am. Locomo. . <lO7 ’12:& 1gg;: 123%
AN Baaeit ... . i 9% AR B
Am. Steei I-‘;;lr‘f. . 46%\ i
- Am. BBug. es. L] ]
Am. Tel. & Tel. ../100% lg;)% llggh 11:?; ‘e
xAm. Woolen . .139%'1“% R
Am. Linseed . .. 8'”“164% st
LMy Gl WL T 08N -+ i g
k. L&R o 3TN 25% 1;5 119
| aO, . pfd. . . 118 MIEE Bt
A, Tob C. w 0 ebvsvioadl iiileiic 18
Am. Sum. Tob. ..| 98 9T%| 97% 2’;%
A Tob. Becur: .l . viali v vilirn i 22
Am. loe 00, gl ias s jiagedd B 8
Am. Writ. Paper.| 63 53 5
A:. Int. Corp. .[lOl | 98%{100% :gu
Alloy StGez:d. % ] %
Alaska o sel tda b ]
Anaconda . . . .| 62% g:% 21% g“:z
Atchison . . . ..| 84 1l
:.. C. I’i‘.ub' e
B.:ild_ Locomo. . /137111343 [134% 13;:2
B. & Ohio . . . ’ 3%
Booth Wish. | . govigilevaiiliiads e
Befhh Neeas hM BN D
Bosc agneto . . | (118 2
Beth. Steel “B'’ ‘ 94%l 927%| 93% ?fi%
BB T { - o
Butte Supe., . L | o
Bunfe (1;.t&1z.. ‘ ’ 3980
Calif. BtroLl’ o vl vani ok e v i
> . Pack. . . .| 83%]| 83%) 83% ‘e
g::‘lf PSt'(i".C oia o i R 18 1%?%
C.&&Ohbixo. S LY e HI
Chi. OF. .+ « ofe.esfenses faait 1
‘olo. F. &1.. ..| 38%| 38%| 38%| 3
gf’."’m. & St. P, .| 390%]| 39%| 39% ;:%
oo g S "““ 3”‘ o
Chino Copper . . Al o 27
Con. Gas . ~ Hoere plog iel Se g
Ger: Pred. - . 9?% gf:fi' 2222 :m,‘:
CocaColh ;. . v “3:% 2;:';‘7.’:;4 2331
Crucible fStee&l 5 ,-}i 4-:”/: Agt B
Col. Ol . . .. b 1 8l
Cuban Am.P‘SU;" B 487 | 48% | 48% 18/.
(‘ast Iron pe . slizacalrapsofiaasd 2
Gontral L. ' . gg‘é ?é; ggyz “‘2
Cnanaioe”Mot. . " |153 Plaala 188 149
Chandler Mot. . . 2 "59* S9%] 59
Ok Bl s ;* = 53, 8
(‘mrre-de-Pa:?co <o 88 3 b
Del. & Hud, ~. .|.....0.....0..... 4,
EriedA o S 1455| 14% uss 31
0. bNI on sad b a 3
Endicott-John. . .|ll9 1;? 1;? lgs‘%,
Free. R'[‘.b& 8.5 ’27 ‘ | Se%
Fisk b, . oo fieeaelesarfals H
B Harawlsgr .1.7;?%'32:
yen. M e T 5 122
Gen. Elec. . . . ,ilsexlms%wm 107%
Gen. Cig. Sto. . .|.....f0..0ifen.ee 4,
Gt-*Nor: pfd. v .l !‘!”‘»2 28% 53% mxz
5. NWB ;.. i lokl 1358| 681
Gulf St. Bteel . .| T3%| 7 ‘8
G W. & W. . . loeailoefone. 1
GreeneCananéa ~ 11...[....0 o SR
Nl Centem)l . " 22 R
tni. Thioemor”" ihas | 28u|a7 | sex
nd. )y o
Insp.H()op. t.er‘ ..| 56%| 56% 5??6.‘1”&2
Int. arves' o NN TN A .
ey P'Ft‘:-:r e :‘?2% §§‘(: ;g% .‘261,2
Kelly Spr. Tire ..|l2B 126% 128 125
K. C.&S% ssd sie el oLB
Kan, & Tex.''4 i Baidd 'fl‘/ "nv‘ ot
Kennecott . . . .| 31%] 31Y 31 an
Lackawanna Stee] .| 7T6% | 764% 'lbl,s‘ 3;‘2
Lehigh Valley .. .| ..s. %
Loft. Candy /. . 4+ i el d 0
Cents, Whelesale
Eggs suffered another heavy crash
Thursday, tumbling 4 cents a dozen to
36 cents for strictly fresh country re
ceipts. Some dealers quoted the market
at fromi 40 to 42 cents, but the average
ranged between 36 and 40 cents, with the
market showing a weak undertone as
the result of continued heavy receipts.
Demand is brisk.
' “lI wouldn’t be surprised to see prices
B 0 lower,” said one dealer, “as the coun
try still is heavily loaded and this is
the heaviest laying period of the season.
One leading retailer quoted eggs Thurs
day at 40 cents a dozen,
Following are wholesale prices to re
tailers:
POULTRY, BUTTER, EGGS, FISH, OYS
| TERS.
| Butter,
il"‘reah country, per pound ..., .35
‘ Eggs.
Fresh country, candled, dozen.. .45@ .44
Live Poultry.
Henk per.pounad ... ..vsnimvsie .35
Turkey, por poungd ... 00 43
‘BERES. Dok POURE ... i iisee .32
TPTS, POr DOUBA .. i 7 vdvs v .52
Neosters, per pound .......... 24
Puddle Jucks, per pound ~.... .30
(Gieese, per pound . ........... 224
ORlneßs, " aRBB . ... . oviaaih .40
| ¥ish, '
' Bock.Bhad, pound ...........0 20
' Roe Shad, pound ............ 40
InaopaY, DAL ponßd .ieieisibe 25
Pompapoes, per pound ........ A 0
Mackerei, per pound .......... <
i‘i'voul. PR DUBNAR . iiiiiiesaen 26
Rottam frish, per barrel ...... 12.50
MGlet; DOr - DOYISI ... ivihoeen 26.00
| Oysters,
Boject. por BNllon ... .. 000 2.50
[S(cwu, BOE BB iy 2.26
| FRUITS AND VEGETABLES,
Vegetables.
Btring beans, per drum (scarce) 65.60
Tematoes, per crate, owing
M BBy i ivisiinas v 3 HORLER
Cauliflower, per crate (scarce), 3.50
Canadian turnips, per pound .. 04
Lettuce drum (Cal. Tceberg).. 4.00
cal, lima beans, new crop, p. ib. AT
Black-eyed peas, new crop, per
POUME 5 iiviivassasassimmasy 00N 99
Celery, per crate, Fla. ........4.60@5.00
Bell peppers, per crate, owing i
Lo BURHEY . 7iiiihy s eia kOOB |
Onion, yellow, per pound ..., 07% l
Irish potatoes, 160 pounds .... 10.00
Cahoge, per crate . ...........5.00@7.00 |
Sweet potatoes, per pound ... 0314
Fruits,
Oranges, per box, Florida ....7.00@7.50
Strawberries, per quart ...... .76@ .80
Grapefruit, per box ..........3.50@4.00
Lemons, per box, Cal. ........ 17.00
Apples, fancy, owing to variety,
BOR S sisvsvitnartrsssssibss e IOREES
Apples, fancy, owing to variety,
DRPt i daiida v eie e « SOMEIO.OO
Bananas, per pound .......... 05
Pears, Nellis, Cal., box ........ 8256
Figs, Cal.,, box ......ccovvvien 3.26
Dates. 08, DR sicvniroviassvs 6.75
Peanuts, fancy, hand-picked,
per pound ......iiiiiiees 14
BEEY,
(Corrected by Swift & Ce,)
No.l. N 0.2. No, 3.
B 7ou i iidiviandi e 20 27 23
FAOIOE )i iy by o a 6 35
BROUDAS i oivvysevinnss 88 21 21
CHUCKE . .....i% caviri 1A 12 10
PIR'ON i cieidisiivipic A 810 19
NEW YORK BANK CLEARINGS,
NEW YORK, March 18.—New York
clearing house exchanges Wednesday were
$558.093,859
and so has increased the purchasing power
of the domestic trade.
“It must also be remembered that in
‘normal times the factories of this country
can supply the domestic demands by work
ing to only about 75 per cent of their
capaeity. This means that we must con
tinue to export if we are to keep our
factories busy. Our foreign customers
are in more urgent need of most com=-
modities than are the domestic customers.
If they find that they can not buy:.in
this marlket they will naturally turn again
to {lurope for their supplies. KFor years be
fore the war the European manufacturers
made a practise of keeping their foreign
customers supplied with merchandise, At
the present time they are doing every
thing possible to regain this trade by as
eigning a certain portion of their manu
fuctures to their export markets. 1f the
American manufacturers hope to retain
their foreign business, and thus insure
themselves of sufficient orders to keep
their great plants busy when the rate of
productjon overtakes the rate of domestic
connunfiion. they must find a means of,
meeting the most urgent demands of the
foreign merchants at this time.”
' fi j liz:oo‘!’rev.
_STOCKS— __ |High! Low |M. _Close
I R o i s bl st A9B
Maxwell Motors” . .| 81 |3l ' 31 |3B
Mo. Pac. (new) . l 20%| 20%% | 20% 28%
xexi Petroleum . . 19;2;,‘. lg:"? l;g* l:g}:
BE -G e A 0 y 369
do. plde . v ‘93 92 923 | 91%
Middle States Oil .| 323%) 313%)| 32 3%
Miami Copper .. | il il rni] H%
Midvale Steel . . .| 47%| 47% | 47%| 47
National Conduit .| ...:} ..o ....] 11
gatlong.l Emlmml . 75% - % 75% ;g‘a
o X Cont Eal v . 75 2
N. Y, N. H & H. .| 38%; 1‘58% 38% | 35
National Lead . . .| 82 82 82 80
Norf. & Western .| ....| ....] ....] 96
fior. Pncifk& L.« .| 83%| 83| 83% {3!,5
ov. Oon. Copper .| .:iv) sveif iocq] 20
gi(IYA léir-brgkc}e?L . A lléa IIA% 11;’%‘ xog%
. Pro. v
ghlo Clmes‘ Gas . .| 456%| 456%| 46% :g%
ennaylvania . . o] sees] secal sass
Pierce-Arrow . . .| 663%)| 6415( 66%| 63%
guntu A. Sugar ..| 84 84 84 §§g
eople’s Gas . . o cooif seeef coes s
Pressed Steel Car .{1031%(10214[102%/102
Pullman Oo . oy wbaiid st aeiie s
Pan-Am. Pete. . .| 99 9815 98| 97%
gore Margoette: . b o saintinae If:::
deree. O v i o) sien] snsat Fivs b
gayd Consolidated . ;g% ag% ;gz: ;g%
SRAInE i i . e %
Repub. I. & Steel .[loos| 98 1005, | 967%
Rock lslar‘\‘d S L R 3’;:&
& PrE VA L S avedt s b
Ry. Steel Springs .|102%/(100 101%| 993,
Royal Dutch (new) (1029102 [1021(101%
Sloss-Shetfield . .| 76 T 4%) T 4% ;:
St I CRrD.. . ] s iliive el sives 3
So’\.:mPfcrlgflc a'r . . (1012101 101 100“3
Sou. Rnilv(vluy e of atby| 2435 24% 2;2
QO PEA. o oo o] sisdlinsaekviais ¥
Studebaker . . . .[106%|103%|105%|102%
Shelll 'x;ransport sl Ak ek w A ;;;fi
Bt. L. Bl W% . b oo vaaelewesd A
Sinclair Oil . . . .| 44 4355 435 43%
Stutz Motor . . . .[lB7 [IBO |[183% lfi:‘;_'t_-
Sl e
switt &((;o. s 12475 ]12434 (124 % 122%
0. NE ) v v o cesallika el sy 4
Superior Steel . . I 4875 48%| 48%)| ....
Saxon Motor . . .| 17%| 17%| 17%| 17%
Tob. Products . .| 72%i 713 718 zgk
Tenms-comtoii © | 1| a 3 37| 2o
Texas Oil . . . . .[2156%(212 [214%]210
Texas Pacific . . .| 42| 41%| 41%/| 41
United Fruit . . .1208‘4 2061%(206%(203
Union Pacific . . .[1223%11213,{122 |121%
Tt Ny "prod., |o| &1 |8 B
nit. Fooc rod. '
U. 8. Rubber . . .IIH% 1093 {1144[108%
U. sd Bl . s .3102% 10036 (102% }221/
0, PR, Ry 08l v A sy s
IL}nlt, Retail Stores | 7(55;: 7g& ;gz“fi gilfi
tah Copper.. -« .| % 7 4
Va.-Car. Chem. . .| 78%/| 7T6% | 78%| 76%
Yanadium .. ..< .| 83 603 |62 VA
WRHESH . o b enak eeiihigeesl
e il YA G L ebk ish BTN
Wenthen Unlon . .ol aai o 5 8
Willys-Overland . .| 26%| 26%| 26% 12&
WEBIWORth - - o+ o ciosllini g e
Westinghouse . . .| 53%/| 53 531% | 628
White Motors . . .| 59%/| 68| 6912| 58
Wilson Pkg. Co. ..| 76%| 76%| 75%]| 78
e LPO e
U. B Liberty SWs. | ...} «..rf 5. < |98.80
Boi-Imb 3K .o e edd oI Bl
830 M i ) voand vk RN
88 30 RME . ub ] avl v BRI R
Su Wt 0. ] i R
BME BN oA vl il e i B BN
so. Bth SR . ] o] s seliae e i RRC 0
QO. Bth MW .il el el sva i [BROD
do. 6th 3%5. . . l ..167.60
Call Money . . . . 7 7 1 8
x Ex-dividend.
WASININGTON, March 18.—Drrmg
Fritay retn will extend castwart threugh
“Tennaseas end Wamarg Nurtd Carolina,
pwiebally resching tha ralsdis Atlmulic
cwint kvidoy afternson or night. In
My (1o wosthar wiis % gwosrally fair,
while tu o~ Fouth Atluntic Siates 3t
w# remein clendy with local ralass.
Ferecast by Stitrs
Do g 9, - < Uomady tenigh! end Wrotay;
pre¥oriy (vonl rains
Nerdh Gerolita—es twmoght Frdav
pasily csudy emd warowe (n aast rein
1 Wess pertien. ‘
Seuth Curolina~—~Clousy (emight wand
Fridey, prebabry twcal rains
e rvdo—ltwir tonigh' and #iidav.
Extreme Northwest Florida--Generally
rloudy tonight and Friday.
Alabama—-Generally cioudy tonight snd
F;rmny; probably local rains in north por
tion,
Mississippi—Cloudy tonight and Friday;
probably local rains in the interier;
somewhat colder Friday in north por=
tion.
| '{:nnesseo——flloudy tonight and ¥riday;
’w-. ally rein; warmer tonight; warmer
Fway » east portion; celder KFriduy iu
wvatrwine west pertion,
leulslane-Falr (onlghy) warmear in the
novth pertias; Iridey fur; light L 4 tued
ersio muth Winds en ceast
. Kentucky—<loudy and warmer tonight
and Friday; probably rain.
' CHICAGO LIVE STOCK,
CHICAGO, March 18.—Hogs: Receipts,
26,000; market, 256 to 40c¢ higher, Bulk,
14.60@16.10; top, 16.26; heavy weight,
14.20@156.60; medium weight, 15.10@ 16.25;
light weight, 15.70@16.35; light lights,
14854 15.10; heavy packing sows, smooth,
15.00@13.50; pucking sows, rough, 12,36@
12.85; pigs, 13.26@15.00,
~ Cattle—Receipts, 9,000; market, mostly
16 to26c higher, Beef steers, medium and
heavy weight, 13.66@15.50; cholce and
prime 13.60@15.560; medium and good,
11.66@15 66; good and choice, 12.26@15.10;
common and medium, 10.00@12.256; butcher
cattle, heifers, 7.25@13,26; cows, 7.206@
12.00; bulls, 7.50@11.00; canners and cut
ters, cows and heifers, 500@7.26; canner
Steers, ;,00@7.75: veal calves, light and
handy ecight, 17.00@18.00 ;feeder eteers,
9.00@12 00, stocker steers, 7.50@11.25;
stocker cows and heifers, 7.20@9.25; stock
er culves, 8.00w11.50, ‘
ATLANTA PROVISION MARKET, |
Cornfield hame, 10-12 avg. ........ .34
Cornfield Hams, 12-14 avg. ........ .34
Corfield skd. hams, 16-18 avg..... .36
Cornfield picnic hams, 6-8 . ....... .23
Cornfield B'fast bacon, wide or nar. .43
C'r'd sliced bac., 1 Ib. box 12 to ¢'se .62
Grocers bacon, wide or narrow,.... .32
('f'ld P'k §'sage, fresh link or bulk .24
Cornfield wieners in 10 Ib. cartons .22
Cornfield wieners in 12 Ib, kits. ... 3.00
't'ld bologna s'sage in 26 Ib. boxes .18 |
C'f'ld smoked I'k s'sage in 26 Ib bxs, .18
Grandmothers’ lard, tierce basis. ... .26%
Country style lard, tierce basis.... .26 |
Compound lard, tierce basis ...... .25
D 5 0580 PION i vivsiignivedare - iRI |
D. 8. bellies, light average......... .20
D. 8. bellies, medium average ..... .20
The United States Cast Iron Pipe and
Foundry Company in its annual report of
the year ended December 11, 1919, shows
a net loss of $503,703 after all charges
and taxes. Total surplus ot the close of
the year amounted to $3,204,920 n= com
parkd with $4,338,622 at the close of 1918,
In 1918 the company earned $1,109,037
equnl to $2.24 a share on the $12,000,000
common stock. Total income for the
vear amounted to € 44 against $1,600,-
| aa
~ NEW YORK, March 18.—Stocks
were in urgent demand at the open
ing of the stock market today, with
advances of from fractions to over
'8 points being recorded.
' All the steel issues were strong,
Baldwin Locomotive after yielding to
134 1-2 jumped to 137 1-4. Republic
Steel rose nearly points to 98 3-4;
Crucible Steel, 3 1-2 to 237, and Van
adium Steel 2 3-4 to 61 7-8. Steel
common rose 3-4 to 100 748, while
American Car and Foundry was 4 5-8
higher at 146,
General Motors rose 8 1-2 points
to 334. Studebaker 2 5-8 to 105 1-4;
Pierce-Arrow nearly 2 points to 65 3-8
and Chandler Motors 3 points to 153.
Texas Company was the strongest
of the oils, advancing 5 1-2 to 215 1-2,
Mexican Petroleum was 1 3-4 high
er at 192 3-4, and Pan-American Pe
troleum showed a gain of 1 1-4 at 99,
American Woolen was a strong fea
ture, seling ex-dividend 1 3-4 per
cent ahd advancing 5 1-2 to 139 1-4.
United States Rubber rose 3 points
to 112 and American International 3
points to 101 1-4.
Fractional gains were made in the
rails.
MARKETS .. ==.. iss wov wssns
The vigerous advances at the open
ing caused substantial profit taking
in many issues and some sharp re
actions occurred, but when the call
money rate started at 7 per cent,
renewed buying orders poured into
the market and nearly all the active
issues crossed their earlier high
levels.
Republic Steel was especialy ac
tive and strong moving up 5 points
to 101 7-8 while Steel Common on
large dealings rose to 102 3-8, Bald
win Locomotive after its early ad
vance to 137 1-4 reacted nearly 4
points,
The rails developed strength, Read
ing advancing 3 1-2 to 88 1-2, while
Southern Pacific rose nearly 2 points
to 102. There was not much doing
in the oil shares, Mexican Petroleum
moving up nearly 3 points to 192 3-4.
Bome of the motor issues were in
demand, Pierce-Arrow selling up to
66 1-2 and Studebaker to above 106.
NEW YORK CURB STOCKS
The market opened steady.
ASENN B, .. iiviivisveiiinn. b B 98
Anglo Am. Ol ... iv.aveineiv 0D 1%
Consolidated Copper ......... 4%@ 6
CORaRs O &.0 h b btk fi%z 9%
Henstan Ofl . ..ciiiiisviiss 2 21W 120
Indiant Plpe . vuis iisvspves ¥ 0100
Inter Pete’ ~ il iisiesees 43 T 8 535
L.ehigh Valley Coal ........ 86 @ 88
MERWER .. i sty B
MEPOBL i iskasessnn oIR aDRE
Merritt Ol ..o iiiisvicnnnnan 20%3 2115
MIQWORt Ol .. S vdivissive =2 2
BEEEWORt B ... il BITS
North American Pulp ........ %@ 6%
ORI viy oy e s AR TR R
PRI D icis i i BTR
Submarine Boat ...,......... 164 @ 17%
B. O New York ...... ......480 @470
8. O. New Jersey ...........885 @B7O
8. O. California .............360 @365
8. O. Indiana {66 @BBS
TRion STHK - ... i ivivernsnr 280 108
Vieterig O (.. a 5 i ressonn: KK 1%
Cons, ATizon& ......ivovvanve 14 %
NUVBURE o 5 ianyenpsnisinse S 0 1
Boston & Wyoming Oil ...... 1%13-16
Glon Roel Ol ... icireriisae SR 3%
Island Oil & Transport ...... 4% @ 5
U B Beanmhlp .. .iiiciisis z'l/.g 3
BRDMIBR 5 i isa ks I 5%
Cux TRt oo liiianiniide TR AR
Poans Ol i) .oviieviibiianes ARG B
BORNME oibl st e TN A
BRIt Crodle ;.. 0. inairersion RO 53
ASHOR Ol TN ievinanii vy TR3500 B-10
ARBRRIE vl iia i i s S
BOOBE M) 4. iiisiisaivrneas: S
Chalniers Motors ... viisisne 3.8 7
Bk BEA . cocrivr iinenirery IND 13
Podoral Ol 5.5 vvsisnisihucs RN 4
QUllend = sin ie s nsivis Vedaane B -98
Kere Lal® .iviiiscvobietaes S 4%
Marlanad ... ivsesiinsessnsee. PINAN BN
MeKMIEY . .siviiinviarvniais 38 B 18
Nunnslly. . isicsssesninsaisve SO ¥l
Omar Ol ....dviovucivsnrsns Y@ %
PEREIOIN .iy iviiviibasisvini B
Phllll&s MOPrIN i i B S
Perfotion TIFe i vvieraavin 4 B W
PHillips Pete. .....ccidiassene 81 48
BWEOEID it ivssidrisivaraiisn 2 ANEE: B 3
BREIY “iivs i cesiinevaninesins TR TE
Blmans Pt s iveririniaes 38 36
Salt Creek ..........ecooooo. 0% @ 61%
BERBLOB ..ivsistrnrsrviosann TR 4
Tobacco Products ........... 23 @ 24
U. 5P e iiisniresines 30 BN
Wayne Coal .....cooveissevsse 3%@ 04
White Off ... ..iviiiiniviic TONE.
FINANCIAL NEWS,
At a special meeting of the stockhold
ers of the Rainier Motor Corporation of
New York, held recently, a proposed plan
of recapitalization was adopted by 100
per cent of the capital stock outstand
ing. The new capitalization provides for
the issuance of 7,500 shares of 8 per
cent cumulative preferred stocl, par
value SIOO.OO, of which 7,000 shares to be
issued immediately, and 30,000 shares of
common stock, of@nn par value, all to
be immediately issued.
. - -
Thilafdsinhis “2mpnony hes declarsd the
evgulur quartwrty dividond,
. . -
Vrweenr ond Ommbia his declesres the
regular quassterly .l)v.wenl.
-
Ahany, N, Y., wires: “A bil] will he
tntroduced ‘n the l:&dnnro Thursdny
or Mondey, next, to Werease the tav on
transfer of stocice from $2 per hundred
sharcas te 3¢ per hundred. Thin Ml has
the backing of executive leaders, who
will urgo ‘tsa pnssage on the grouud of
necded revanue,”
. . .
T™he Vunadianm Cerperation has de
clarsd an initial quarterly dividend of
$1.50 « =hure payable April i 5, te stock
ot record April 1,
. . .
Steel trade organs eny the mnrked
shoartnge of coal and scarcity es ceors con
tinues, Eaquipmen' orders are belng re
ceived \p large volume
. . -
The Oenera! Kiectric Company has
leased ‘he new Remington Arms fertv.
wrre war plant «t Bridgenort for $7,000,-
000, with option .vn nur;chm.
.
Treasury dGepartment experts da not
telieve that the entire net loss throngh
the stock dividend decision will be ere
than $25,000,000, :
Safes and Vault Doors
[ ———r==m=s Bank and fireproof, new
PN i "nd ased. Agent for Hall's,
5 | Victer and Underwriter's
| ‘ Filing Safes, Expert epen.
I’,’ ,',’ ing and repairing. See us.
e Atlanta Safe Co.
=% 64 W. Mitehell St.
Main 4601,
SUNSHINE IRON &
STEEL CO.
Wholesale Dealers in Iron, Steel,
Meta!s and other Waste Mate
rials,
43 to 51 Maagnolia St
Phone lvy 7057.
Correspondence Solinited.
MANY COMPANIES IN POSITION
-TO DECLARE BIG DIVIDENDS
By BROADAN WALL. %
NEW YORK, March 18.—Wall Street had another day of wild excm
ment in the stock market Wednesday. In the morning there was a s ',;_
edvance in many issues, followed by a serious break. Dullness prevailed
for a brief time, and then there was a wild upheaval under the leadershii
of Baldwin, Stutz Motors, American Locomotive, American Can and U.
Steel. The rails participated in this advance only to a slight extent, but
they were well purchased all day long. The chief reason for the advan g
was the declaration by Crucible of a 50 per cent stock dividend and the
announcement that gold is actually on its way from England to New Yfgrz:‘
by way of Halifax. An attempt to discredit this report of gold coming
from London failed, for no bankers could be found who would deny it. Thl}
furtherest that any responsible authority would go was to say that thél;-*
was no official knowledge of its coming. The exact amount coming is nfi
stated, but it is understood to be about $25,000,000. This, added to the
$15,000,000 that the I'ederal Reserve Bank overlooked in last week's atat.'c{‘-
ment, makes an addition of $40.000,000 of gold in the New York Markct;u
It is nn wonder the speculators were excited,” Pares
Sterling exchange was strong and+
call money was obtained easily at 8
per cent, that being the renewal rate. |
In the ufternoon loans were made as
low as 6 per cent.
In the morning there was good sell
‘ing of all stocks on the list, partic
ularly of Baldwin, Crucible Middle
States Oil and some of the rails. In
the early afternoon this was all re
versed. The prices did not crumble,
as professionals had hoped they
would do. In the case of Middle
States Oil it was stated that a mrs
take had been made in the announce
‘ment the nrevious day of bringing 1n
a large oil well. This well was not'
on the property of the company, but '
on an adioining estate. There is nol
evidence that the Middle States Com-|
pany put out the renort, but It Is n
timated that the selling of this stock
was exceptionally rood.
American Woolen made, it is under-.
stood, about 150 per cent on its stock
in 1919 before paying taxes. This
gives ample scope for the imagination
of large stock dividends. A cash div
idend of 10 per cent has been in con
templation, but now that stock divi
dends are tax free it is probable that
the plans will be changed and a stock
dividend be issued. The American
Tobacco also has a stock dividend of
at least 75 per cent under contempla
tion. United Fruit, Westinghouse,
Stutz Motors, American Locomotive,
Central Leather, Standard Milling
and Cuban American Sugar are also
in a position to declare large stock
dividends.
FINANCIAL BUREAU ON STOCKS,
NEW YORK, March 18.—Baldwin Loco
motive's demonstration vesterday was the
subject of discussion after the close and
extremely bullish talk was heard regard
ing this issue,
. - .
There was disagreement of views as to
probable effect of Ser.retary Houston's
- -
American Locomotive is looked upon as
resolutions regarding tax laws.
likely to do better.
. . .
Southern Pacific and Reading continued
to be favored more than any other rail
road stocks, it heing reported that Read
ing was being steadily accumulated on all
its various marke!. mgvemems.
-
Fall River, Mass., reports doffers strike
caused closing of six cotton mills yester
day,
. . .
There is no indication of early settle
mant of strike of coastiwse longshoremen.
Managers of lines meet today.
NAVAL STORES,
SBAVANNAH, March 17.~Turpentine,
market firm, 2.12%; sales. 77. Rosin,
market firm. WW, 10.00; WG, 19.00; N,
19.00; M, 19.00; K. 1878 % 21 W,
$7.95;: G, 1.3 7, 11901 B - 8010 B
17.75; B, 17.00; sales, 667.
Receipts, spirits, 27; rosin, 255,
Shipments, spirits. 409; rosin, 93,
w_c_k. spirits, 1,806; rosin, 2,549,
D
& FIXTURE CO.
93 N. Pryer St,, Phone Ivy 1158
DESKS, CHAIRS,
FILING DEVICES.
Large Stock. Low Prices.
New Stock Issued by
The Georgia Savings
Bank and Trust Co.
Notice is hereby given that share
holders of Georgia Savings Bank &
Trust Company of Atlanta, Georgia,
have the right to subscribe for one
and one-half times the number of
shares of the new stock authorized
by a stockholders’ meeting held
March 1, 1920, as they shall own of
*he existing stock, on Tuesday,
March 23, 1920, at noon, central time,
as shown by the books of said bank.
Said new stock to be paid for at
$135.00 per share for stockholders or
their transferees, on or before 2
o'clock p. m., central time, Tuesday,
April 6, 1920, Notice must be given
to the bank in writing of the num
ber of shares each stockholder sub
scribes for of the new stock not later
than Tuesday, March 23, 1920, at
noon,
This first day of March, 1920,
GEORGE M. BROWN, President.
By order of board of directors.
—Adv.
Of Interest to Farmers
We wish to announce to farmers wishing to com
bat boll weevil we have acquired the selling
agency of Brown’s Numbers One, T'wo and Four
cotton seed, grown by Mr. Marcus L. Brown of
Decatur, Ga. Number T'wo seed are an improve
ment of the Cleveland Big 8011. Number Four
is an improvement on the Triumph. We offer
these very early seed put up in burlap bags at $3
per bushel at our uptown office, Number 25 Ivy
Street, Atlanta, Ga. Respectfully,
The Cotton Warehouse Co.
Cotton Factors.
[l
U.S.Sends $1,000,000
Daily to Germany
By 0. M. SMUCKER. j
CHICAGO, March 18.—United States ine
vestors are absorbing German munieipal
honds at the approximately $1,000,000
day. At current rates of exchange, this
means that close to $5,000,000 marks are”
being purchased daily in this country an
invested in German municipais. With many
the transaction is a speculation; withh
others an investment. ~
I.ess than two weeks ago German marks
could be purchased at 1.03 c to the mark,
against a par price of 23.8¢. During tl‘l‘: :
last week marks jumped to I.Bo¢c a rise
no doubt attributable ni the recent wide=
spread demand for German bonds here. 4
News of Germany's internal trouble caus
marks to slip baek, to. 1.15¢c. Lk
One Chicago investment house h 5
turned its entire force over to the traffia
in German bonds, abandoning entirely !og 4
the time being its trade in American ing’ 2
vestment securities. This instituion re=
ports a daily volume of business ranging
between 2,000,000 and 7,000,000 marks.,
It has set up direct connections wit‘ 3
German banks and receives shipments of
German bonds by every steamer. It now 4
has in transit securities totaling some
20,000,000 marks, all of which have beea
purchased in this territory.
With German exchange at a discount of
2200 per cent it is not strange that suc :
a demand has sprung up. If Germany &
able to work out her salvation without re
pudiating her obligations, the investment
should in time show a profit. Meantime,
German investors are tax exempt, both e 8
to principal and interest. 3 i
Such buying, too, should have a benefi=
cial effect upon German exchange. Since
the fad started, foreign exchange bank ,‘?
ers say, some German cities have t\l‘m’i'f:,}é
over their entire indebtedness two and
three times. Bonds of the cities of Frank
fort and Cologne have been the favorites, ,}
These issues, ~bearing interest at the rats
of 4 per cent, are now selling at
premium, i
The premium on Frankfort 4s is around
8 per cent. Cologne 48 command a premiuny
close to 7 per cent. Munich, anoth =
favorite, is quoted at 7 per cent above
par. Berlin 4sß are quoted at 93%. <
den 4s at 96.60 and Dusseldorf 4s at ’G‘? 3
These quotations represent the latest availq
able figures on the Berlin Stock Exchang ,
FOREIGN EXCHANGE, a 5
NEW YORK, March 18.—Wednesday's
closing prices of exchange were: Sters
ling demand, 3.71; cablees, 3.71%; banks
ers’ 60 days, 3.67; 90 days, 3.66; France -
checks, 13.60; cables, 13.58; Belgi S
checks, 12.98; eables, 12.96; Germa e
checks, 1.25; cables, 1.26; Austria checksy
47; cables? 49; Holland checks, 367%§
cables, 37; Italy checks, 18.47; cables;
18.45; Swiss checks, 5.80; cables, 5.7 A
Stockholm kroner checks, 20.40; kroi 3
cables, 20.60; Christiania kroner checks, -
18.05; kroner cables, 18.20; Copenh
kroner checks, 17.40; kroner cables, 17.50§
Canadian dollars, 88.65. : s
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Talks |
Being the title of & worth-whilp :
booklet that you ecan read with sub
stantial presemt and future prefit,
Full of timely information om the
financing eof business enterprises.
Explains the various types of invest
ment in untechnieal language. Tells
about our Partial Paymeat Plan
which enabies you to Invest your
saviugs safely and to earm extrs prof-
Its, Issued monthly, We will {hl- %
ly send a copy of the March issus
with no obligation on your part. 3
Ask fer Beooklet (
Securities Sales Co. /
64 Peachtree Street,
Atlanta, Ga.
Charlotte Birmingham
New Orieans Jacksonville
BONDS STOCKS 4