Newspaper Page Text
335 Bales Cotton Sold Here Thursday at Record Price of 43 Cents, Basis—Futures Soar to New High Record—Big Rise in Stocks
Tgf *f”"
X el
U. S. WILL ISSUE COTTON
GINNINGS REPORT SATURDAY
étla.n'ck bank clearings Thursday..... e« oees ----$13,084,097.40
ame M( IBBE JORE ,os oe soscnvron an ascen *+ SOOO.OOO. 47
ey
BUOTOREO ... oo o 0 tons sosniian ooeon 5% Lone JROBGILAOO
Same day last WeeK ....q weeevew mee sos 0000-e 10,918,808.18
same day 1918 ese'e mame -o.'. -.. csel mw 90 sew vea 71019'898'11
.
*. Atlanta cotton statement T hursday: o
: 1920. Last Week. 1919, 1918, |
Regelpts . e wae 081 731 804 889
Shlpments. o Weiwei e 1,014 930 649 618
SLockS . our o o 32,077 33,022 25,512 25,378
. » *
Atlanta spot cotton Thursday..:-... el wev wes «+v +O. 42.150
DS Y It WOK .. .ooi bvioneion sos nonTnse 22 ves SIOOB
Same day lASt YEAT ooy ov eceioes wus woel Mol mat ww we 81-100
Bame day 1918 ... e+ weu +ueiioit wow ou oo seees 34700
9 By VICTOR BARRON.
.. Spot cotton here Thursday sold at the highest price in history.
fi R. Ellis Jr., president of the Cotton Warehouse Company, announced
/ ,Aghat H. H. Fitzpatrick of Madison sold 335 bales to J. B. Gordon, local
. representative of the Latham-Bradshaw Company
A :{;g". #ide of Greensboro, N. C., at 43 cents, basis middling. The
‘4_:;:,:,__ 2 transaction was handled by the Cotton Warehouse |
TN Company. Expressed in dollars and cents, the trans
*‘\““‘~ i action involved an unprecedented sum for this num-
V‘i::{*“ ber of bales of that grade of more than $72,000.
Q‘ k Stimulated by further heavy rains in the eastern
ke Tk belt, together with the vigorous rise in securities and a
oo 72l marked reduction in the inspected stock of cotton at
4,’*‘ | New York, the bulls took hold of the cotton market early
’m Thursday and hoisted prices to new records for the
:'fgf:f3lssss%§%f?s:§: ¥4 novement. First prices at New York were 3 to 29
e gag points higher. After the call heavy buying appeared,
e - led by shorts, trade houses and spot firms. Offerings
BTN B vere light and confined to realizers. Before the end of
‘l@” @ 8 (he first hour and a half of trading futures at New York
B@ B had risen to a net gain of 40 to 56 points on most active
"4:;5:::;55;?_2?.'\‘5'?;-"“ ‘SEed positions. May rose to 38.26, while July moved up to
SO s G 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 28.05, July 35.36 and October 32.18.
Less apprehension with regard to the political crisis in Germany and
large_ exports also inspired buying. The market also was stimulated by
pessimistic crop advices and continued rise in spots, with demand showing
“ improvement.
i R Li ot eet W PIVE es o A& vF
CHICAGO, March 18.—Trade was
rather light in corn at the opening
{md 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.
Trade in provisions was quiet, with
a higher opening on scattered buy
ing.
Corn closed unchanged to % of a cent
higher.
Oats closed 1% to % of a cent higher.
Provisions closed higher.
} R ‘ ‘ | Prev.
’____Open High Low | Close | Close
Corn l
Mar. 1.60 1.61 1.60 , 1.61 !
May 1.57%| 1.59% | 1.56%| 1.56%| 1.571
July 1.50%| 1.521] 1.49%] 1.50 | 1.50%
Sept. 1.47%| 1.48%| 1.45% | 1.46% ] 1.46%
Cats
May 87%( .88%| .86% .87 .878;
July .80 81 }99 9% T 9%
Sept. 0% 3 .69 69%| 7015
Pork | ]
May |37.00 (TN_SO 37.00 [37.50 [36.25
July 36.50 (38,26 [36.50 [37.90 [36.70
Lard |
May 121.90 22.00 [21.80 ([21.82 [21.60
July [22.567 |(32.80 [22.55 |22.62 |22.37
Ribs | |
May IIR.!)S 19.27 ‘1&95 19.07 [18.82
{ July 190.50 [19.77 [19.50 [19.62 ]19.35
CHICAGO CAR LOTS,
CHICAGO, March 18.—Following are re
ceipts for today:
VBB . . i v ssssesescnarsersanrsne s
C R S O RO T
R R e e 52
Hogs il e S e s G eg o ONO
ST. LOUIS LIVE STOCK MARKET.
ST. LOUIS, March 18.—Cattle: Receipts,
2 200: market slow; native beef steers,
16.50@13.75; yearling beef steers and
heifers, 10.20@13.00; ccws, 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, 11.75@
13.00; lights, 16.00@16.30; pigs, 12.75@
*16.00; bulk, 15.85@16.25.
Sheep: Receipts, 7.50; market, steady;
ewes, 13.75@14.00; canners and choppers,
65.00@8.00; lambs, 18.75@19.00.
JACKSONVILLE LIVE STOCK.
Hogs, receipts, medium; prospects,
steady: choice heavy, 13.756@14.00; good
heavy, 13.75@14.00; rough heavy, 12.50@
13.00; lights, 12.75@13.00; heavy Dpigs,
11.75@12.00; light pigs, 10.50@12.00.
Gattle, receipts, light; prospects, steady;
steers, 7.00@11.00; bulls, 6.00@8.00; year
lings, 6.00@7.50; cows, 6.00@8.50; veal
calves, 7.50@11.00; canners, 3.50 up.—
Williamson & Dennis, March 17.
wWare & Leland: “Further rapid upturns
whenever the pit becomes oversold are
to be expected. We would hesitate about
following the advance.”
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 Wy Street Atlanta, Ga.
. Exports from Boston Thursday‘
totaled .17.000 bales. The outgo Wed
nesday amounted ‘to- 31,436 bales,
bringing the total so far 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.
Growing tightness of near months,
owing to the scarcity of tenderable
cotton and small movement from the
South, coupled with the continued
rise in securities and low call money
—§ per cent—carried all positions to
new high marks during the after
noon, with March at New York ris
ing to 40.29, while May rose to 38.28,
Jaly 35.45 and October 32.35. To
wards the close a wave of overnight
realizing trimmed thke top levels
about 20 points, except March. - Final
prices were 13 to 41 pointh higher.
Spot cotton here was officially
quoted 15 pointh higher at 42.15 cents
—new high record. Middling at New
York and New Orleans remained un
changed at 41 cents.
The trade is 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 707,852 bales'were ginned during
the final period—January 16 to March
20.
The erop 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,
CHICAGO CASH GRAIN, i
CHICAGO, March 18.—Wheat: No. 2,
hard winter, 2.48.
Corn: No. 3 mixed, 1.61; No. 4 mixed,
1.58@1.60; No. 3 white, 1.63@1.63%; No.
4 white, 1.60% @1.61% ; No. 3 yellow, 1.63@
1.64; No. 4 yellow 160@1.62,
Oats: No, 2 white, 96@1.00; No. 3 white,
051 @97%; No. 4 white, 95@98; standard,
84@93.
COTTON MARKET OPINIONS.
E. ¥. Hutton & Co.: “The position of
the local stock is etill restricting selling
and gives renewed confidence to the bulls.”
Moss & Ferguson: ‘‘Purchases on reces
sion’g seem the best policy for the pres
en;ilxhhml Bros. & Co.: “It is well to be
eareful about following the advance at
these prices, although the market shows
no sign of weakness."”
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 moderate 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 rec
ords during the late forenoon, with
May touching 38.26, July 35.40 and
October 32.32. At the highest the
list showed a net gain of 40 to 56
points, except March, which, held at
40.24.
Continued covering of shorts and
trade buying boosted the market to
new high records during the after
noon, with March advancing to 40.29,
May to 38.28 and July to 35.45. Profit
taking during the final few minutes
of trading checked the advance.
At the close the market was steady
at a net gain of 13 to 41 points.
Spot cotton was unchanged at 41
cents,
NEW_YORK COTTON. ‘
| ’ I ‘Lastl ‘Prev.
___|Open[High| Low| Sale| Close i Close
Mar. ]40.24/40.29/40.20/40.29]40.29 |40.15-24
May 37.85!38.28 37.85/38.01 38.01-06!37‘71-73
July [34.90(35.45{34.90(35.24{35.23-25(34.84-8
Oct. ]31.95/32.35/31.95/32.11/32.06-11)31.92-95
Dec. |13],12|31.43531.11|31,23]31.20 31.00-02
Jan. }30.65]50.92]30.65/30.68/30.65-70]30.50-52
— NEW ORLEANS COTTON.
| ’ ! |La!t| ‘Prev.
|Open|High| Low| Sale| Close | Close
‘Mar. 39.90‘40.10]39.88‘40.00 39.90-95(39.83
May [37.75/38.65137.70/37.83|37.79-84|37.66-70 |
July 34.93}35.36 34.93‘35.09 35.97-12/34.90-92
Oct. [31.77/32.18/31.77/31.90{31.90-94/31.73-77 |
Deec. ’31.01131.25‘31.01'31.00‘31.00 ,30.90 ‘
Jan. [30.55/30.70(30.51/30.60{30.45 30.33 |
Closed steady. ‘
AMERICAN EXCHANGE.
Following were ruling prices om the
American Cotton and Grain Exchange Inc.
Thursday:
' ‘ | | ‘Prev.
Open|Higk|Low|Close|Close
March .. .. .. |40.25/40.35[40.24]|40.35/40.30
May .. oo oo --13790/38.25/37.90/37.97|37.70
July .o oy os ..[|34.92|356.46]34.92|35.20({34.82
Oct. ve oo oo .-.]31.9713233|3197|32.05]31.92
‘Dec. .. oo . ..|31.12]31.25/3112({3117]|31.00
LIVERPOOL COTTON.
LIVERPOOI, March 18.—Spots opened
in improved 'demand. Prices firm, sales
6,000 bales. .
American middling fair, 33.64; good
middling, 30.64; fully middling, 29.64;
middling, 28.64; low middling, 25.34; good
ordinary, 22.14; ordinary, 21.14.
Futures opened steady.
. | 12:00 | ‘Prev.
4 |Open|P. M.|Close|Close
March .. .. .. ..]26.55/26,72/26.84]26.44
AprHl .. «o se seficeacfiias. 28.10525.69
May .. +e . +.]|25.45/25.60/26.55/25.34
JUNE 5 A e v e AR R 28 e
JUIY .0 vs o saves |24.60]24.67|24.86/24.49
August .. ~ .. . |24.09).....]24.34/23.99
September .. .. «o f0.00.f.....(23.69(23.36
October .. .. .. |22.95[22.97/23.09/22.80
NOVEMDOY oo oo o 5 Je0r50fi5e5.122.64132.41
December .o oo oo |.....(21,78]22.17]21.98
JEDURTY . v e BLBRE V. IRE.DOIRE TR
February .. .. .. |21.54].....121.79i21.52
Closed steady.
—_—————
SPOT COTTON.
Atlanta Commercial Exchange auotes
basis good middling ...............42.15¢
New York midding ... oo000050.:.41.000
New Orleans middling (sales 1,677)..41.00¢
Savannah middling ......4.........40.50¢c
Liverpool good middling ...........30.64d
Norfolk mMIdANNG ..cococeecessess.3B.ooC
Augusta MIAHNE ....icooiseessssss4o,26C
Houston MidAling .ve.escosesssses..4l.ooC
Philadeiphia middling .............41.25¢
Boston mid@dng .....seorssersesss 41,800
Charleston middling ...............40.00c
Wilmington middling ........50....39.00¢
Memphis middling ..........0000...40.50¢
St. Louls MIAAUNE ...cveaesreessee-$0.600
Little Rock middling ......cc00....40.50¢c
Galveston middling .....ee555000...42.76¢
Dallis mIdAUBE ... a 0 rinsesses 2143356
Mobile middling ....cccoceveees...B9.soC
ATLANTA COTTON DIFFERENCES,
(Atlanta Official Grade Differences, U. S.
Government Standards.)
MIAAURE: TRIF . ireiosisednaionna 350 0B
Strict good middling ........0.....275 On
Gooll. TIAAMUNE i s tvairesnsansss 300 ON
Bteiot: MUMAHRE .o vcisssavve seesdßE OR
PIAAUDE " i 3 cavnarshe. sossdovalnes DONS
Strict low middling ..........e...300 off
YW AN T 100 ety
Yellow Tinged.
Gooll: MIAAHNE. . i iiis o iihaiens: 200 ORE
Strict midAling .........cc0000004350 Off
Yellow Stained.
Good MIMBIE 7. /i i iiianons 900 92R
ATLANTA COTTON SEED PRODUCTS.
Description— Price.
Crude oil, basis prime (tank 10t5)...518.00
Cotton seed meal cakes ....(not quoted)
Cot. seed meal, 7 p. ¢. (100 ton lots) 67.50
Georgia, common r. p. (100 ton lots) 66.50
(Cotton seed hulls, sacked (car lots) 16.00
Cotton seed hulls, loose (car lots) .. 13.00
Linters, N 6, % CI0t8) .iiivicsnvianie 08
Linters, NO. 3 (10t8) ....cvasnvsssse 08
Linters, No. 8 (10t8) .....ccoosooooo /03
s L JOOFRON SERD OYE. .
Cotton seed 01l quotations:
| Opening. | Closing.
Bpot .. .. ss s ...........txntsormzo.oo
March .. <o oo .. [19.30@20.50/19.35@20.65
April .. oo oo . |19.35@20.50[19.45@19.75
MARY .. ¢o oo o+ |20.306020.35{20.17@20.18
June .. .s e o« |20.30@20.70/20.26@20.45
(IUY oo W ae wa 20,68@20,70‘20.42@20.43
August .. .. .. |20.80@20.95/20.53@ 20.55
September .. .. [20.80@21.00(20.53@20.56
October .. .. .. |18.90@20.00/18.70@19.50
Closed weak; sales 171,000,
CHICAGO PRODUCE MARKET.
CHICAGO, March 18.—Butter, receipts,
4,189 tubs; creamery extras, 65%; firsts,
59@64%; packing stock, 34@39.
Eggs, receipts, 20,697; cases miscella
neous, 42@44; held firsts, 36@43%;
checks, 35@37; dirties, 38@39.
Cheese, twins, new, 28@2!%1\ dalsies,
201% @30%; Young Americans, 30@30%;
Longhorns, 30@30%; brick, 27@27%.
Live poultry, turkeys, 40; chickens, 40;
springs, 40; roosters, 26; stags, 22;
geese, 38,
Potatoes, receipts, 145 cars; Minnesota,
5.30@?5.50. .
BUTTER, POULTRY AND EGGS,
NEW YORK. March 18.-—Poultry: Live
and firm; chickens, 28@35; turkeys, 45@
46; geese, 40@ 45,
Butter: Market, steady; creamery ex
tras, 67Y% @7l; firsts, 65% @6Y; higher
gooring, 68@72; State dairy tubs, 46@6614%;
renovated extras, i4@55; imitation cream
ery, 46@47. ’
Cheese: Maiket, firm; State whole milk
specials, 293 @3l; fancy, 28@29; Wis
consin lower grades, 14@27; whole milk,
fancy young Americans, 32833; fair to
good, 10@12; lower grades, 4@9.
Eggs: Market advancing, 53@50; nearby
white, faney, 53@564; brown fancy, 49@F50;
extra, 4T@47%: firsts, 49,
METAY, MARKET,
NEW YORK, March IL.—Copper quiet.
Spot, April, May and June 18%,
Lead quiet; spot and March 9@9%.
Spelter steady; spot and March 8.50@
£.50% ; A&rll and May 8.56@8.56%; June
8.60@8.60%.
NEW YORK BANK CLEARINGS,
INEW "YOORK. guch g';mgy York
| clearin use exchanges were
uu,nf.m.
WHAT ABOUT THE FUTURE?
“For four years American manufaturers
have been literally swamped with foreign
orders and the export trade of the coun
try has grown from $2,100,000,000 in 1914
to $7,700,000,000 during the year just
passed,” 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
normal domestic demand for merchandise
of all kinds, Some months ago it became
apparent that the manufacturers could not
keep up with both the foreign and do
mestic demands.
“In this emergency syme manufacturers
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
facturers 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
been responsible for the present prosperity
New York Stock Market
Market closed strong. ’
Stock sales, 1,841,000 shares.
Bond sales $12,321,000. |
| ,Last ‘Prev.
STOCKS— High{ Low | Sale |Close
Allis-Chal. . . « .| 4567%]| 43%| 45%]| 43%
A Malee . . Liioiidees il il AR
Am. 8. & Com. .| 25%| 25%/| 25%]| 256%
Amy. Agrioul. o Gl Vi e os]e 08
Am. Beet Sug. ..| 89 83 8814| 8614
Am. Can , . . ..| 62%]| 503 61%) 50%
Am, Car Fdry. ~.[146 [142 [143 |l4l
Ak Cot., OB "¢ bl eyt A 8
Am. Locomo. . .[108%4]105%(106%{105
Am. Smelt. . . .| 69%/| 68%) 6815| 6934
Am. Steel Fdr. ..[ 49! 463 48%]| 46
Am. Sug. Ref. . .[132 [132 [132 |130%
Am. Tel. & Tel. .[100%(1003% (10032110034
Am. Woolen . , ./139%%]136 [136%|135
Am. Linseed . ..| 863 84%| 86| 84
A, G. & W. I ..[165 [1641%]166 [163
Am H. & L. 5 .18 2414 2215 24
do. pfd. . . .JllB%B [lls [116%|112%
eT S . it iIS
Am. Sum. Tob. ..[1003%| 97%/100%| 97
AW, Toh, Becur. .Ji.icideasial wsl SRB
i Xhe o O el P S e
Am. Writ. Paper .| 53 63 63 49
Am. Int. Corp. ..|lO4 98141104 981
Aoy 88l - q & i diviii)iiiaddianGl 4B
AMRsln Oold o = il il siiilacni] A 8
Anaconda , o » .| 62%] 61 613 | 6054
Atchison , « e ..| 85 84 85 837%
RO Tl e W W o)t sH O R
AR RUR: e x sloiiaiie i s T 8
Bald. Locomo. . .[l4Ol/133 [135 [134%
B. 0. . . . o .| 37T%]| 36%]| 37%] 365
Booth Flsl. v & ]iivdisiaihbaies] lA%
Beth. Mot. . . ..| 31%] 29%| 30%]| 30%
Beth, Steel “B"” .| 97 927| 94%)| 92%
BB v liivan el 38
Prlte Bupe. . wolGaileicidiani] (B 0
Butte O & B ¢ Jiociicdle eBB
Calif. Petrol. , ..| 405;| 40%/ 40%/| 39%
Calif. Pack. . % .| 833%| 833%/| 83%/| 8134
Can, Pac! . o » .|124%]124 1124%(122%
C. & oOhio . + o . BlK]| 6T%| 67%] 87
Chl. & Not. . o Jvioibisaaihiani] 80%
Colo. F. & I . .| 393/ 3834| 39%] 3814
C., M. & St. P. ..| 40%]| 39%]| 40%/ 39%
do. pfd. . . . 59 59 59 58
Chino Copper . .| 3453 34| 34%] 34
Con. Gas . o « . 87%| 87%]| 87%]| 87
Corn Prod. , « ..|] 95%| 94 948;| 9484
Coca-Cola . , « .| 35%]| 35%| 351%| 3515
Crucible Steel . ..|237 [|23714(235%(23314
Col. Graf. . . . .| 44%| 43%| 44%]| 43%
Cuban Am. Susg. '425
Cuban Cane Sug. .| 487%| 47%!| 47%| 47%
Cabt Tron Pigw: . ol iuso]verirlveiail 38
entral L. . . ~,..| 908 87%] 89%/| 8614
Chile Copper . ..| 188 183 18| 1814
Chandler Mot. , .1153 150%!151% 1493
Coi. Gas . . .. ..] 5% 53% 59%| 59
Corre-de-Pasco . .| 53 53 53 511
Del, & Huli i o JJivosdocvalatist B 8
Brie . . . o o ] 14%] 14%] 1451 14%
g 6 Dld . e ALI cendnaiat 3RS
Endicott-John. . 119|116 {117%[108
e T 8B .. & 27 27 MEA
Bl Bab. |, i Daavibiiiidial B
Gen. Cigar BSto. | 681 | 681 | 6814] 6713
Gen. Elec. . . ..166%]166% 166’\4[165
Gen. Mot. . . « 338 ,327 3331%1324
Good. Rub. . . .| 733! 72%| 73%| 71
Gt. Nor. pfd. . 1 831,] 83 | 8314] 824
Gt. Nor. Ore ~ ..| 41%]| 40%/| 41 4014
Gulf St. -Steel , .. 73‘/.‘ T 1N 6814
G W, & W. , ..|l6%]| 15%| 16%| 155
Greene-Cananea , |.....J.....J.....] 34
N, - Centrsl: ;o .] 31 91 91 80145
Insp. Cop. . « ..l 56%] 55%] 6Als| 6516
Ind. Alcohol , ..!102%! 9611100 963,
Int. Nickel . . |' 22 422 ‘22 22
Int. Blavvesteor o« .].....)ccoiifes, 2j5R058
Int Paper i & N'fi‘ 891, 1 9014] 881,
Key. Tire . . . .| 374! 36%| 3713] 3614
Kelly Spr. Tire . .!131%]126%[131%]125
008 . T
Kan. & - Tex & l’ 914
Kennecott . . ..| 313%/| 31 311%] 305§
Cents, Wholesale
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 from 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.
“I wouldn’t be surprised to see prices
go lower,” sald 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, ¥ISH, OYS
TERS,
Butter.
Fresh country, per pound ..., .35
Eggs.
Fresh country, candled, dozen .36@ .42
Live Poultry.
Hens, per pound ......covvvasoo .35
Turkey, por pounll .. ciiesssee .43
SIARS, DOr POUNA s .vssbevsvisi 32
Friers, per pound .......svooo .52
Roosters, per pound .......... .24
Puddle ducks, per pound ...... .30
Geese, per pound ........ev.o 221
Guineas, sBR .... . ccirsinsrpen .40
Fish,
Buck Shad, pound ......cOOOOO .30
Roe BEAL. - POUBY <5 ivisivens 40
Snapper, per pound .........00 .25
Pompanoes, per pound ........ A 0
Mackerel, per pound .........s 25
Trout, pDer DOUB® .....0¢ 044 .26
Bottom fish, per bartel ...... 12.50
Mullet, per barrel ........soeso¢ 26.00
Oysters,
Select, per gallon ........cOOO 2.50
Stews, per gallon ......... 000 2.25
FRUITS AND VEGETABLES,
Vegetables,
String beans, per drum (scarce) 6.50
Tomatoes, per crate, owing
to quality ..................3,6004.50
Cauliflower, per crate (scarce), 3.50
Canadian turnips, per pound .. 04
Lettuce drum (Cal, Iceberg).. 4.00
(*al, lima beans, new crop, p. Ib. Wil
Black-eyed peas, new crop, per
POUBE + . iccrrsnssevcinsvnnss 000 0084
Celery, per crate, Fla. ........450@5.00
Bel\ peppers, per crate, owing
toquality .....coveoiiaeese.4.ooo6.oo
Onjon, yellow, per pound .... 07%
Irish potatoes, 1560 pounds .... 10.00
Cabage, per crate ............500@7.00
Sweet potatoes, per pound ... 03%
Fruits,
Oranges, per box, Florida ... .1.0031,50
Strawberries, per quart ...... .76@ .80
Grapefruit, per box ..........3.50@4.00
Lemons, per box, Cal, ........ 17.00
Apples, fancy, owing to varlety,
‘box "........,.i...t......'..!..!.5004,25
Apples, fancy, owing to variety,
‘bplrrel sanssasbaasessienen s 900410.00
Bananas, per (Qound sessssnans .05
Pears, Nellis, Cal, box ........ 5.25
Pigs, Cul.,, bOX .....oosvvnesns 3.26
Dates, Cni., POR scvivosirrsnss 6.75
Peanuts, fancy, hand-picked, 1%
r ÜBA s ieiesi i ssnse .
P BREP,
(Corrected by Swift & Ce.)
No. 1. No. 2. No. 3.
RIDE oocosvonrsessssse 30 217 23
TR R | | 35 36
ROUNAS ..oovvvsocsssss 32 21 21
Chucks ....ioesvvanses 14 12 10
Plaled .coevcoscssnsess 12 10 1w
.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
capacity. 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 market they will naturally turn again
to Europe for their supplies. For 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
signing a certain portion of their ranu
factures to their export markets. If tuhe
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
production overtakes the rate of domestic
consumption, they must find a means of
meeting the most urgent demands of the
foreign merchants at this time.”
. A e ¥ TDe oy
: | | Lut‘?rev.
STOCKS — |High| Low | Sale|Close
Tack, Steel . . .| 81%) 76%] 79%] 73%
Lehigh Val. , . .| 46%| 4615| 46%]| 456%
Loft. Candy § o .of coos] oovn] voee 19%
LO, TIPG | 1 iiw a ] e swnn) s ore o BAK
TR N, il il aaes 108
Maxwell Motors , .| 3134 31 31 28
Mo. Pac. (new) ~ .| 29%]| 29%| 29%| 28%
Mex. Petroleum . .[195 |18915(19214]190%
Marine . . . . . .| 37%/| 363%| 36%| 353%
do. prd. ... .| 93 92 02%| 9131
Middle States Oil .| 32%| 30%| 31%/| 31%
Miami Copper . . «.oo] ooosl saaee 22%
Midvale Steel . .| 49 471% | 481 47
National Condult .| ....| ....] ....} 11
National Enamel .| 79%| 79%| 79%| 75%
N. Y. Central . . .| 76%| 76%| 76%| 76%
N. Y., N. H. & H, .| 36| 36%]| 35%| 35
Nationa] Lead . . .{ 82%| 82 8215/ 80
Norf. & Western «.| ..oo| civ:] 220:| 96
Nor, Pacific .(. .| 84 831%| 84 831
Nev. Con. Copper .| ....| ..v:f wnee] 18
N. Y. Airbrake . .[ll2 [lll [ll2 {lO7
Okla. Pro. & Ry. .| 6%| 6%l 6% 5%
Ohio Cities Gas ..| 46 458, | 45%| 45%y
Pennsylvania . . .| 43%| 4314| 431%| 43
Pierce-Arrow . . .| 66| 641%| 66%| 63%
Punta A. Sugar . .| 843%| 83| 84%)| 84
Peoblan Gel” - v+ o] aiaaliieaa] 380
Pressed Steel Car .[10315(10214/102%|102
Pullman Co, . . . .|119% us%lum 115%
Pan-Am. Pete. ~ .[1018;] 97%| 99%| 97%
Pere Marquette . .| .... ..|.. ....] 29%
Plarcs Ol i et Lol os] sisal AR
Ray Consolidated .| 183%| 183% 1835 18%
Reading . . . . . .| 88%| 86%| 88% 86
Repub. I. & Steel .[106%] 98+ 103 96 T
Rock Island . . . .| 37%| 37%| 37%| 374
do. Dta A" L | cicikiis vk ot
Ry. Steel Springs ./1022(100 |IOO% 9914,
Royal Dutch (new) [10284[101%(102%101%
Sloss-Sheffield . .| T7%| 74%)] 763%]| 74
Stromberg Carb, o .| T7%| T6%| 76%| 71%
Sou. Pacific . . « .[1027[101 [10114]100%
Sou. Railway . o « .| 24%| 24%| 24%| 24%
do. pfd. . « o .| 8834| 58%5| 58%| 67%
Studebaker . . o .|107%|103%|105%(102%
Shell Transport « . ... ccoc] 200 8%
St. L. & San F, . .| 24%| 2414] 24%) 23%
Sinclair Oil . . o .| 448| 43%/| 44%] 43%
Stutz Motor . « . .|l9O [l9O [lB9 [168%
A I Ll b ol g B
QO. DI, o&0 <} seai] seaE e 17%
Swift & Co. . « .|124%[124 (124 [122%
do. (Int.) «« .| 46 46 46 45%
Superior Steel » .| 49 48145 48%) ....
Saxon Motor . .« .| 17%| 17%| 17%| 17%
Tob. Products . .| 72%| 70%| 70%| 70%
Tenn. COpper > o o} isvos] cess] suns 10 %
Trans-Cont. Oil . .| 27%/| 26%/| 26%| 26%
Texas Oil . . . .|215%(212 [£1314]210
Texas Pacific . o .| 42%/| 41%| 425 41
United Fruit . o .|206%[206%|206%103
Union Pacific . . .[128%[1213{122%{121%
Uhilon O v ..+ ] 36 34 35 337%
Unit., Food Prod, .| 703%| 69 691 68
U. 5 Rubber . . 134141093 (1128 108 W
U. 8 Steel . . . .{103%|100% 1023|100
| 0. DL i o] el fesii] eI
Unit. Retail Stores | 77%| 7T6%| 76%| T 6%
Utah Copper . . .| 76| T 4% T4%| 74
Va.-Car. Chem. . .| 78%| 77%| 77%| 16%
Vanadium . . . .| 63 693 60%; ....
WalaEE - . i s idlendiait ol 8
| do. pfa. “A” . .| 28%| 28%/| 28%| 27%
‘Western Union . . ....] «...] <OO 87
Willys-Overland ..| 25%/ 25 25 25
Woolworth . . o .|124%4|1243(1124%1124
Westinghouse . . .| 543%| 63 543 | 52%
White Motors . . .| 59%/| 6814 | 5915 58
'Wilson Pxg, Co. . .| 77 7515| 76%| 75
s D ORI
U. 8. Liberty 3%5. e e i R e
an: TOE B 8 . o d iaii] ehedd vii (9080
rean A R S R
‘ do 30 638 vo] via) i) belne| DR B 8
| do. Ist 4%5. .. ‘ ....]91.00
Q 0 24 4UE i) vk ol 8008
do 4th 4%85. . | ceoe] ooss ver+]9o.o4
do Bth 4%85. « | svoef cece] +44.|87.80
do, 6th 3%, o.| coie] caos] +00,{67.60
l(‘,all Money . ... i 2 8 6 8
x Ex-dividend.
WEATHER FORECAST | .
l—__————l
WASHINGTON, March :ls.—Durlng}
Friday rain will extend eastward throuzh}
Tennessee and Western North Cuollna.‘
probably reaching the middle Atlantic
coast Friday afternoon or night. Xn}
Florida the weather will be generally fair,
while in the South Atlantic States it
will remain cloudy with local rains. ‘
Forecast by States.
Georgia—Cloudy tonight and Friday;
probably local rains.
North Carolina—Fair tonight, Friday
partly clondy and warmer in east, rain
in west portion.
South Carolina—Cloudy ¢onight and
Friday; probably local rains.
Florida—FKair tonight and Friday.
© Extreme Northwest Florida—Generally
cloudy tonight and Friday. |
Alabama—QGenerally cloudy tonight "ndl
Srlday; probably local rains in north por
on.
Mississippi—Cloudy tonight and F‘rlduy;‘
probably local rains in the interior;
-lomewhnt colder Friday In north por
tion.
Tennessee—Cloudy tonight and Friday;
probably rain; warmer tonight; warmer
Friday in east portion; colder Friday in
extreme west portion. ‘
Louisiana-—Fair tonight: warmer in the
north portion; Friday fair; light to mod-‘
erate south winds on coast. w
Kentucky—(loudy and warmer tonight
and ¥Friday; probably rain. |
e |
CHICAGO LIVE STOCK, |
CHICAGO, March 18.—Hogs: Receipts,
26,000; market, 26 to 40c higher. Bulk,
14.60@16.10; top, 16.26; heavy weight,
14.50@15.50; medium weight, 15.10@16.25;
light weight, 15.70@16.36; light lights,
14.85@15.10; heavy packing sows, smooth,
13.00@13.50; packing sows, rough, 12,35@1
12.86; pigs, 13.26 @15.00, ‘
Cattle—Receipts, 9,000; market, mostly
15 %0 25¢ higher. Beef steers, medium and
heavy weight, 13.66@15.50; choice undi
prime, 13.65@15.60; medium and good,
11.656@13 65; good and choice, 1126@15.10;‘
common and medium, 10.00@12.25; buteher
cattle, heifers, 7.25@13.26; cows, T7.26@®
12.00; bulls, 7.50@11.00; canners and cut
ters, cows and heifers, 5. 00@7.26; canner
steers, 6.00@7.76; veal calves, light and
handy weight, 17,00@18.00 ;feeder steers,
9.00@12.00; stocker steers, 7.650@11.25;
stocker cows and heifers, 7.26@9.25; stock
er calves, 8.00@11.50, 1
NEW YORK PRODUCE MARKET,
NEW YORK, March 18.—Petroleum:
Strong; crude Pennsylvania, 6.10,
Turpentine—Steady; 2.27% @ 30.
Rosin-—Steady; common, 18.00.
Wool—Firm; domestic fleece XX Ohio,
62@1.00; domestic pulled scoured basis,
15@1.70; domestic Texas scoured basis,
1.00@1.75.
Hides—Firm; native steers, 35@37%;
branded steers, 32.
Coffee—Weak; options opened 4 to 16
points lower; Rio No. 7, on spot, 16@16%.
Rice—Firm; domestio, 96@15.
MONEY AND EXCHANGE,
NEW YORK, March 18.—Call money
on the floor of the New York Stock Exe
change today ruled at 7 per cent; high,
7 per cent; low, 6 per cent.
Time money was steady,
Rates were: Sixty, ninety days, four,
five and six months, 8% per cent, ‘
The market for prime mercantile paper
was strong.
Call money in London today was 3%
per cent,
Sterling exchange was steady, with
business in bankers’ bills at 3.72 for de
mand,
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, 8 1-2 to 237, and Van
adium Steel 2 3-4 to 61 7-8. Steel
common rose 3-4 to 100 7-8, 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.
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 oi] shares, Mexican Petroleum
moving up nearly 3 points to 192 3-4.
Some of the motor issues were in
demand, Pierce-Arrow selling up to
66 1-2 and Studebaker to above 106.
There was a resumption of ag
gressive buying i na number of is
sues i nthe afternoon, causing many
of these issues to advance to new
high levels for hhe day. Baldwin
Locomotive was again prominent and
after reacting to 133 1-4 had a quick
advance to 140. Steel common sold
up to 103 3-8 and Lackawanna Steel
rose 7 points to 81 1-4, Industrial
Alcohol was in demand, advancing
over 4 points to 101 1-4,
General Motors after falling to 329
rose to 337 and Pan-American Pe
troleum moved up over 4 points to
101 3-4.
Influenced by the favorable rec
ommendations to Congress yesterday
by Secretary of the Treasury Hous
ton for a reorganization of the fed
eral tax scheme and an easier call
money rate, led to sharp and excited
advances on the stock market late
today. Every group of stock shared
in the general upturn and at the end
of the day’s trading prices showed
net gains of from 1 to 10 point:
Profit taking towars thd close led to
some recessions.
The steel issues were most actively
traded in with Republic Steel selling
up nearly 10 points to 106, but falling
back on profit taking at the close to
104 1-2,
Steel common was over 3 points
higher, at 102 5-8. American Inter
national was a strong feature, ad
vancing 7 points to 105 1-4, but yield
ing 1 point at the finish. Studeba
ker was in good demand, advancing
over 4 points to 107 1-4, Pan-Ameri
can Petroleum sold up 3 3-4 tu
101 3-4 and then yielded to 10.
The railroad issues yielded some
what from their best lavels,
The wmarket closed strong govern
ment bonds unchanged; railway and
other bonds steady.
NEW YORK CURB STOCKS
The market opened steady and closed
steady.
Stocks— Open, Close.
Actna Exp. . « 8 @ 9“2 Su@ 9%
An, Am. Oil , 26% @27 261%% 28
Con, Cop. . +o» %@ B 4 4%
Cosden Oil , . 8% 9% 9 914
Hcuston ©Oil ..115 120 115 120
Ind. Plrgw vy o 9T @IOO% 97 @l:’g
Inter ete . ,43 43 4%
Lehigh V. C. .85 88 Vivas sy dfasve
Magma . . ... 34 38 37 29
Marcont . , . 0% b 5% 653 55
Merritt Ol , , 203 21% 20% 21
Midwest Oil .. 1% 2 1% 2%
Midwest Ref. 171 2173 175 177
N. Am, Pulp... 6% 514 54 6%
Ohio 01l .....378 @385 376 @385
Prairie Ofl ~..700 @720 700 @720
Sub, Boat ..... 16%3@ 17% 14 @ 14%
8 O.N. Y. ....466 @470 475 @485
8. O, N. J, ...7866 @B7O 853 @865
8. O, Calif. ....360 @366 363 @356
S. O. Ind. ....866 @835 860 @BBO
Union Tank ...128 @133 126 @l3O
Victoria Oil .... 1% @ 1& 1“3 1%
Conm. Aris. ii.s v.@ % 3
Nipissing ..... 10% @ll 10%8 11%
B. & Wyo. .... 1% @ 3-18 134 3-16
Glen Rock Ofl., 3% @ 3% 3@ 3%
Is. Oil & Trans. 4% @ 6 4% @ 4%
U. 8. Bteam. .. 2%@ 3 2% @ 3
Snpul{m ceessse BN G 8% bY@ 5%
Car Light .... 2%® 2% L@ 2%
Boone Oil ..... 4% @ 6§
Bragos ........ 16 @ 17 16 @ 18
Salt Creek .... b 0 @ b 1 60y @ 61
ANG] ON . ...iviveinayivase 153000 Beiß
AIDRRIL 5o sesnnsnissonnt I ERANE
Boone Ol ..cosiivanssscisier G 48
Chalmers Motors .........cOO 3 T
Bk Basin ...ooeocensssesinve 1035 11
Federal Ofl s.oovvssncsssiness 2% 4
GUIANA covcosvovnscsonnnres §B 46
BEOUE LR iicssinciesontsinin 4&0 4%
MArland ..icoceovessrcerscrs BRI 6%
MEEIRIY i iviiiciitizinits BB 1B
NUNNRHY sotcsoscsossnsansses 180 3
omar Ol ..vivedooesssrosins %@ %
PORrions ...c.cvvovsvaivnsesri 40 @ €8
PHllipe Morrie . sniqesnries '8 @ 8
Perfoction TULO .covecessices & B ¢4
Phillips Pote! ..ccoccseacises 40 © 43
BWeOLtS ....icoooooosoooooooos 4%8 S&
Bhelly ....ocovvvvenvsnessenss 11% 11
BIMME PO o siaisvisvscinic I B 9
Balt Creok’ iisoessssensvsesve B 0 BIY%
BRANLON . ..iisiensnrrvaniiriy TeiooD %
Tobacco Products ........... 23 @ 24
5.0 P DAY civeiivseviois 3.0 B
Wayne Coal ....ooceecisrnive 3@ 4%
WHIS O cosroencranrronsirs- TR 39
CITIES SERVICE QUOTATIONS,
(Quotations Furnished by Atlanta Office
Henry L. Doherty Company.)
Bld. Ark,
Clties Bervice {)M. iisssseinie-10 @ 70%
Cities Bervice Deb, “C" ..,.., 102% @103%
Cities Bervice bankers’ shares 40 @ 40%
Cities Service common ..,.,,.301 @396
Fmpire Gas and Fuel pfd, .... 87% @ 89%
Citles Service Deb, “D” ..,.. 7%
Safes and Vault Doors
(= Bank and fireproof, new
I nnd used, Agent for Hall's,
) B}l Victor and Underwriter’s
i J Filing Safes, Expert epen
"‘l' ~ ing and repairing, See us,
bt Atlanta Safe Co.
L
T N o Mken st
SUNSHINE IRON &
STEEL CO.
Wholesale Dealers in Iron, Steel,
Metals and other Waste Mate
rials.
43 to 51 Magnolia St
Phone llvy 7057,
Correspondence Solicited.
MANY COMPANIES IN POSITION
TO DECLARE BIG DIVIDENDS
By BROADAN WALL.
NEW YORK, March 18.—Wall Street had another day of wild execite=
ment in the stock market Wednesday. In the morning there was a sharp
advance in many issues, followed by a serious break. Dullness prevailed
for a brief time, and then there was a wild upheaval under the leadership
of Raldwin, Stutz Motors, American Locomotive, American Can and U. 8.
sSteel. The rails participated in this advance only to a slight extent, but
they were well purchased all day long. The chief reason for the advance
was the declaration by Crucible of a 50 per cent stock dividend and tha
announcement that gold is actually on its way from England to New Yoric
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. The
furtherest that any responsible authority would go was to say that there
was no official knowledge of its coming. The exact amount coming is not
stated, but it {s understood to be about $25,000,000. This, added to the
$15,000,000 that the Federal Reserve Bank overlooked in last week’s state=
ment, makes an addition of $40,000,000 of gold in the New York Market.
It is no wonder the speculators were excited.
Sterling exchange was strong and.
call money was obtained easily at 8
per cent, that being the renewal rate.
In the “ernoon 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 Balawin, 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 ease of Middle
States 01l it was stated that a mis
take had been made in the announce
ment the nrevious dav o hringing 1n
a large oil well. This well was not
on the property of the company, but
on an ad ‘~ing estate. There is no
evidence that the Middle States Com
nany put .ut the ronart, hiyt it ja In.
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 756 per cent under contempla
tion. United Fruit, Westinghouse,
Stutz Motors, Americun Locomotive,
Central Leather, Standard Milling
and Cuban American Sugar are also
in a position to declare large stock
dividends.
NEW YORK COFFEE MARKET.
Coffee quotations:
Closing.
SRR Lol as ab oob v s «.14.63@14.65
Feruary .. .o oo o 4 o 0 oo +.14.60@14.62
MBPON- 0 2i s oib 20 6 0 4 TEEONIE R 0
ADPIL oo o we we o 5 0s e e 1088001460
MAY oo a 0 o 8 04 wv s 34 02070010 08
JRU® oy o) be enind vy so W 340501604
FRIY 05 ooies ewine a 4 se s 30950004008
ARBUSE .. .. "o. ui 0e ee 4 348301484
September .. oo 4. o 4 oo 00 +.14.70@14.71
OSIOROE .o 4o 43 o 0 o 5 46 o. M EDPNILAS
Hovember «. oo 40 4s 45 10 +. 140007070
ot og i UMI O T
NEW YORK SUGAR )_I.ARKET.
Bugar quotations:
Closing.
MAY 2o oo ¢ 60 o 4 o 0 ou +.11.50@11.60
JUNO on 00 .06 ow as ae ve ss3LEOOTL N 0
QWY L 66 wa wh v o sIL ARETTRD
BUEUIE .. s sans e i 4 20400100
DRSO % et ~11.40@11.50
NAVAL STORES,
BAVANNAH, March 18.—8pirit market
firm; regulars, 215; sales today, 53,
Rosin, firm. WW, 19.00; WG, 1900, N,
19.00;' M, 19.00; K, 1.75: I, 17.50@17.55;
H, 17.50; G, 17.60; F, 17.50; B, 17.50; D,
17.50; B, 16.50.
Bales, 209.
Receipts, spirits, 2; rosin, 114,
Shipments, spirits, 238; rosin, 1,637.
A At
& FIXTURE CoO.
83 N. Pryer Bt., Phene lvg 1158
DESKS, CHAIRS,
FILING DEVICES.
Large Stock. Low Prices.
e . Y W S S NI Ooet, PR S e wmaran.
e —
New Stock Issued by
. o
The Georgia Savings
Bank and Trust Co.
Notice is hereby given that share
holders of Georgia Suvings Bank &
Trust Company of Atlanta, Georgla,
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 stockholderg 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, Two and Four
cotton seed, grown by Mr. Marcus L. Brown of
Decatur, Ga. Number Two 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, i
The Cotton Warehouse Co.
Cotton Factors. ; J
IE
U.S.Sends $1,000,000
Daily to Germany
By 0. M. SMUCKER.
CHICAGO, March 18.—United States ine
vestors are absorbing German municipal
bonds at the approximately $1,000,000 a
day. At current rates of exchange, this
means that close to 85,000,000 marks ars
being purchased daily in this country and
invested in German municipals. With many
the transaction is a speculation; with
others an investment.
Less than two weeks ago German marks
could be purchased at 1.03 c to tiae mark,
against a par price of 23.5¢. During the
last week marks jumped to I.Bo¢ a rise
no doubt attributable to the recent wide=«
spread demand for German bonds here.
News of Germany's internal trouble caused
marks to slip back to 1.15ec.
One Chicago investment house has
turned fits entire force over to the traffie
in German bonds, abandoning entirely for
the time being its trade in American in
vestment securities. This {instituion re
ports a daily volume of business ranging
between 2,000,000 and 7,000,009 marks,
It has set up direct connections with
German banks and receives shipments of
German bonds by every steamer. It now
has in transit securities totaling séme
20,000,000 marks, all of which have been
purchased in this territory.
With German exchange at a discount of
2200 per cent it is not strange that such
a demand has sprung up. If Germany is
able to work out her saivation without re
pudiating her obligations, the investment
should in time show a profit. Meantime,
German investors are tax exempt, both as
to principri and interest. .
Such buying, too, should have a benefl
cial effect upon German exchange. Since
the fad started, foreign exchange bank
ers say, some German cities have turned
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 rate
of 4 per cent, are now selling at a
premium.
The premium on Frankfort 4s is around
8 per cent. Cologne 48 command a premium
close to 7 per cent. Munich, another
favorite, i 3 quoted at 7 per cent above
par. Berlin 43 are quoted at 93%. Dres
den 4s at 96.60 and Dusseldorf 4s at 9614,
These quotations represent the latest availe
able figures on the Berlin Stock Exchange.
FOREIGN EXCHANGE.
NEW YORXK, March 18.—Wednesday's
closing prices of exchange were: Sters
ling demand, 3.71; cablees, 3.71%; bank=-
ers’ 60 days, 3.67; 90 days, 3.66; France
checks, 13.60; cables, 13.58; Belgium
checks, 12.98; ocables, 12.96; Germany -
checks, 1.25; cables, 1.26; Austria checks,
47; cables? 49; Holland checks, 38%;
‘cables, 37; Italy checks, 18.47; cables,
118.45; Swiss checks, 5.80; cables, 5.78;
Stockholm kroner checks, 20.40; Xkroner
‘(’nhlen, 20.60; Christiania kroner checks,
' 18.05; kroner cables, 18.20; Copenha?n
kroner checks, 17.40; kroner cables, 17.50;
(Canadian dollars, 88.65.
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d Being the titla of a wourth-while
i booklet that you can read with sub- &
g stantial present and futare prefit. 2
3 Enll of timely informatios on the |
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B HRxplains the various types of invest-
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§ about our Partial Paymeat Plan
which enables jyou to imvest your :
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A 4 its. Issued monthly. We wili fh‘- M
1 |y mend a copy of the March lssue N
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