Newspaper Page Text
ATLANTA GEORGIAN.
11
edited bv
JOSEPH B. LIVELY
THE GEORGIAN’S RECORD OF MARKETS AND FINANCE *%§
ely’s 25 ywiii experience
:*ti la Atlanta and
Ttith has mad* him a roc*
authority In his specialty.
tone hi shiei
ii in
Ibusuicss Checked By Near
Approach of Government
Condition Report.
I CABLES WERE BETTER
I Sales of Spot in Liverpool
Larger Than for Some
Time.
n . print* Ltutd Wlr*.
l.w York. Aofu.t L-Burino nt
Mini of the cotton market was very
.Mtot lielnf Checked by the approach of
?h. oohltatlon of the *orernmcat condl-
Ian reoort. The cables were better titan
Ifi "a 1 ? he sales of tho spot articUlb
I Liverpool were lar«er than they have been
I (or some time.
SPOT COTTON MARKET.
Atlanta,.teadyatlWic
Sew York, tteady at 10.90c; delivered on
I TKS^rleans, •teady at 10%c.
Liverpool, dull at 5.9M.
Augusta. quiet at lie.
garannah. quiet at I0f*lic.
gt. Loola. quiet at 1%.
Houaton, quiet at 10%c.
Memphis, quiet at 10%e.
Galveston, steady at 10%c.
Baltimore, nominal at ll%c.
Mobile, dull at 10%c.
LIVERPOOL COTTON MARKET.
. Liverpool.' August 1 12jtf u P- m.-Cotton,
I gpot demand Increased, with prices steady;
I middling uplanda 5.90d; sales. 8,000: Amsrl-
1 can 6.500: apeculatlon and export 1,000; re-
I celpta 4,000; American, none.
1 Futures opened quiet.
Opening _ Previous
Range.
I Infant
I August-Kept. .
JgepL-Oct. . .
I Oct.-Xov. . . .
I Nor.-Pee. . .
J I>ec.-Jan. . .
I Jan.-Feb. . . .
I Feb.-March. .
I Marrh-Aprll. .
Anri 1-May.. ..
Cloaed dull.
. .5.65
.. ..5.60
. . .5.56
*...5.57
Ii!#"*’
.. ..6.61
5.64-5.06 Ml
5.60- 5.61 5.69
6.66-5.57 5.65
a
6.58-5.59 6.57-5.58
6.60- 5.61 i.60-6.60
5.614.62 6.604.61
TODAY’S PORT RECEIPTS.
The following table shows receipts at the
I porta today, compared with. the same day
I last year:
I New Orleans. .
Galveston. . .
Mobile. . . .
Savannah. . .
Charleston. . .
Wilmington. .
Norfolk. . . .
New York. . .
Beaton. ....
lM
1906 J
341
1018
r 8 .
1001
i
456
.■"« :
j& ,
24? ‘
,7 S
«* 1
2754
10983 °
INTERIOR MOVEMENT.
. The following tnhlt shows receipt* at the
Interior towns, compared with the same day
last year: -•
NEWS AND GOSSIP
Of the Fleecy Staple.
A condition of about SO u
expected.'*
Carpenter, Baggott & Co. say: “While
the sentiment on tho floor Is predominately
bearish, they tin*! It Impossible to hammer
prices. Tho opinion Is popular that an ad
vance of 20 to 30 points would be moat ac
ceptable to even the most bearish and
with little resistance."
Tho Journnl of Commerce makes the con
dition of cotton 81.7, ngninat *2.7 Inst month.
Very favorable prospects, but too much
rain causes deterioration. Some heavy
grassing and sappy results. Weed, though
small. Is stroug and Healthy and well
fruited. No damage from Insects and no
serious complaint of scarcity of labor.
Many fields clean and well cultivated. Scat
tered complaints of shedding. Cotton will
be laid by about August ]. S.-im-m -mm
“hat late."
New Orleans. Aug. L—Liverpool
higher Is n shade better thnn expected. Wi
duo unchanged to 1 higher.
Frank Ilayne says In an Interview of the
July deal: "That It was a liquidation, ami
no corner was attempted; that a loug In
terest well over 50,000 bales existed, and
that over two-thlrda of It was liquidated
nt over 11c toward the close of the month.
Improvement of Good Frac
tion to Full Point
Scored.
STOCKS MORE ACTIVE
Rise More General Than
Any Prvious Stage of Up
ward Movement.
bales only on contracts."
tw
Private Wire to Ware & Leland.
New York, Aug. L—Liverpool futures
opened quiet, 1 up. At 11:15 p. to.. un
changed to 1 up, dull. Kales 4,000. Spoti
1 down, 6.96d. Futures due to come un
changed to 1 up.
The New York cotton market opened
quiet and steady; prices unchanged. Com
mlsstou house business practically at a
standstill. Even local operatora don't seem
disposed to do anything either way.
day Houston got no new cotton. _„
ago, the big crop, It got 81; three years ago,
none.
Shiner, Tex., wires: "Cotton opening fast
creases and brokers
ity ovei
ok to
i nt.. ... —
The movement of new
cbtton in Texas fa getting to be an impor
tant factor, and la causing spot buyers to
Is 28.118
it ato
balei
5.208 at thin time
last year. Amount on shipboard 4,672 bales,
against 9,763 last year.
Cables are favorable. They were due
and 2 down on New Orleans and unchanged
to 1 up on New York. Official cables re
port a better spot demand. ..
The weather map la favorable. Very lit
tle rain la shown over the cotton belt. Tem
peratures are moderate. „
It looks as though Hutton A. Co. were
trying to aell some cotton. Thla la the
firm Mias Giles la employed by, and their
selling may be In anticipation of the re-
art, ont Wilson took the cotton.
Tne locals were disposed to hammer the
* l.— n# \flaa nilaa' ra.
By Private Leased Wire.
New York, Aug. L—The market's recep
tion of the welcome news of the Steel com
mon dividend was scarcely more striking
than was to have been expected. In spite
of the eleventh hour rumors that some dis
tribution would be made, the directors’ ac
tion really took the street completely by
surprise, and It was simply a question to
day of how high the market would open
and how fast It would advance. Steel com
mon, on running sales, rose Immediately IV i
points from yesterday's closing, while the
preferred gained a point. These were the
top figures for the stocks for the morulnr
enormous proflt-taklug holding down thoL
r »rlces for the rest of the early session. But
n other quarters the market showed Its
exhilaration throughout the list. There
were some sharp advances In the whole
M of Northwestern Issues, In Union and
ern Pacific, In both the hard and soft
coal stocks. Copper, Kmelters and Brooklyn
Rapid Transit Bt. Paul waa heavily bouAr
on fresh talk of baying for control, tT *
vorlte reasoning being that the prospi
the road changing hands waa the cause for
nothing having been done with the Pacific
coast extension plana. The whole market
waa exceedingly active throughout, and the
rise more general than at any previous
stage of the present upward movement .
The stock market opened at general ad
vances, extending to a point of Colorado
fuel. Union Pacific and Amalgamated,
tending gained %, Smelting and New
York Central and Union Pacific %. steel
common opened at 41% to 41 against 40
terday.
LONDON STOCK MARKET.
STOCK—
market on the Issuance of Mias Giles re
port, but Wilson tok the cotton.
Miss Olles’ report Is 82.7, against 88.5 July
16 and 88.9 June 29.
WORTHY OF NOTE
New Ydrk, August 1.—The Sun say
Anaconda .... ....
Atchison
Canadian Pacific.'.
Chic., Mil. and St. Paul..
Erie
do. preferred
lllnols Central
Louisville and Nashvtle....
New Y ; ork Central
Pennsylvania....* ••••••
leading
Southern Pacific
Union Pacific
United Rtates Steel
do, preferred...*
have given a certalr
1906
D06 i,
Houston. .
Angusta
Memphis .
8t. Lulls
Clurluuatl
Si
2
88
Mg t
IS t
212 t
1
KW 0
Total
1632
V
GIBERT & CLAY'S
DAILY COTTON LETTER
New Orleans, Aug. 1.—In Liverpool an
ether dull session waa recorded, options
Mining one point In the net result, while
the reported Increased Inquiry for spot cot
ton s day or so ago has resulted In sales to-
. 8000 at lose of a point.
The local market waa entirely featureless,
prie* chaoses continuing along narrow tinea.
The condition estimate of Jnly by Mlaa
I Hf* was *2.7, and waa considered bullish,
bat present prices are generally deemed
smrblently high to discount even a lower
| estimate. Extremely favorable crop re
ports continue to lie received from reputa
ble sources, and the Ideal weather of the
past few days has added considerable con-
I fldence concerning Ideas of existing proa-
J^ets for a bountiful yield. * Nevertheless
the crop has yet to pan through some four
weeks of weather of vital import to tho
farther maturity of the plant and Its fruit.
Jarlng which period dally crop advices will
b* largely Instrumental In shaping the rasr-
ket« course. For the balance of the week,
little or no change la looked for,
2* tr * rt f, *PPerently being well content to
«nttl the Issuance of the government
condition figures for Jnly on Frldny morn-
ins next.
Yor,t i August l.—The stock market
?*? »trong today from the earliest trading,
and n large Increase In pnMIc Interest
!.y ■ ,, PJV* rt followed fft a iVnlt of the
Ht»tea Hteel report, and a general
! , ,n confidence In fundamentals.
| The Russian situation, grave-as K la, seems
J* r ‘‘f*rded M • minor Influence, and
Interests are unanimously support-
15* their specialties to a greater extent
2&SLW I*®* ln recent past. Moat
strength Is shown by the Ilarirman Issues,
£»S%£n i rat.
8S2* &££ '""Jo'* m»nr* I thloM
h«n rcralcd a, al.ni.nt. of rtoofit
look to new In8ucnccs to nf-
. ,h » IwMto vnlrnl and vnln.«.
h l ,w •» * Mtlifactory .hap.,
»Mcr me* o, fond, nuke* tbt.
S9™« »» »leni.n» to lie kept alw.,.
We, eotwlte.d™. .nd It I, rtlll Impo..
S’l" ,n ' n,| fel/ dl.rcgsnl foreign rondl-
wSti.Ui"® l, . t k-'-arw. no doubt of
koto* on In Amertea. and we mint
Iho.. 1 : 's? 1 -h.l.TM’ reaction mar ha
1... : .eeurttjr llat aa a rdilt of
JKJ mtTln* on Thnradajr and Frl-
rA- w|l i. *».;«««wad br atrona aanport la
Si' l1lr erttoaa. wkara klith dlrtdend
S85 rj a; n T m 1 " ni,t >wlh ■«**«•
THE 8UOAR MARKET.
Jap
>nerator was disposed to hold ma
and await developments. More light Is
wanted on.the crop situation. The forth
coming government monthly report on Fr
day will. It- Is thonght by some, furnls
decisive news on this aabject, altboug
this opinion Is not unanimous. In
tend that It la ranch too can
leflnlte conclusion as to the r
•f the crop, Inasmuch as August Is
ns the most critical period In
market weakened
■MMramwmilmraram] reporta
... .aore or less telling L
aure from local traders, but the bun lead-1
er gave support, and later on scattered
cpverf’ir took place and the market waa
bWMlrtWg Jb-ory rains were reported In
the aiiuuile statefl, and the weekTv gov
eminent* report waa rather bullish. If nny-L
thing, seeing that ft reported damage from
excessive rslna In North Carolina, Bonth
Carolina. Arkansas and Tennessee. The
•peculation waa wholly .professional and
lacked featnrea worthy of note.' —Olbert
f ClayHH
New
ATLANTA MARKETS.
FRUITS AND PRODUCE.
Officially corrected by Atlanta Fruit and
p E?ru*"M.(>o.
Mines 50 to 75c.
reaches, per crate, 60c to 81.00.
Ineapplei, 8L50 to 2160.
220.00 per 100; de.
Iiaunnna, straights. i»—-
fl.75. Calla. per bunon, tl
Watermelon J7.50 to ,20
mand rood.
POULTRY AND COUNTRY PRODUCE.—
^lve hens 25 to J7H<?; fries 22V4 to 25c:
Itrollers 15 to Mve ducks, Pekin 30
to 85c; puddle 26 to 17Hc.
Dreaaeil hens, per lb., 12c to 13c.
Eggs, per doxen. 15 to 16c.
Butter, table, per lb.. 20 to 22%c; cook
Ing, per lb., l&c to 15c.
•Roney-New HflOe lb.; in 1-lb. racks 10
^VEGETABLES.—Irish potatoes.
• ^ ^ IL60,
■HMP9MS to 8L8E
Old sweet potatoes, per bushel, fl to 8L2I;
icw sweet potatoes $1.50 bushel.
FLOUR, GRAIN. PROVISIONS.
FLOCR-Poat.l. Patent, W.0O: Diamond
ntent, Maacoutah Star, *<75; B
patent, ».(S; Uluo lllhbon, M.10;
anrlna wheat patent.jfc.S to 11
CORN—Cnotc, red cob, 77c; No. 2
lipped. Me; choice
I,.Me; -reins ru.t
OrlMitf, Anfuat l.—The TImi
uemocrat; "barring a rather general ■
sir, on the part of the talent To eren np
the bureau report due next Friday, yr
terday'* cotton market wa. feotnrete«, d
and lnactlT. to at
Scalper* with appet
lunch money out ot me piar. —
crop new* merely added to the proof of
Ta.oraMe progre**. Iterolntlon In Ruaala
wa, without potential effect In the narrow
market Fall option* held their own be.
cauie shorts fwired the government condl,
nla. Further clover mixed, *1.00; do. No, ! clot
, ji.frt.nded the ataple. There
nothing ambition. In the Immediate outlook
from the viewpoint of either faction.
Wan A belaud.
WARE «L LELAND'8 DAILY
COTTON SEED OIL MARKET
Naw York, An
was. rather featureless aside from a steady
position. For the moat port, trading was
dull, owing to tho fart that the eltnatlon
la a waiting one. August wan prectJca ly
• nditlll, owing to th. Inch .of In-
tt n
owing to the lnc_
tenet on the port of .Mcnlaion, who an
'their attention to
white, Cfle; choice mixed,,
proof, lie.
UBAI Plan water ground, per In
74c; bolted lfMh. lutes per bu.hcl, 66c;
Shorts white. 11.40: medium- Si.Si; brown,
|1.»: pars bnn, IJ.11; mixed bran, *1.10.
■IIIAY.—Timothy. ch,*ee large tmlrs, ,1.101
cloaed 'mixed",
'cr.OVKIL-Cholce Me.
The above price* an f. a b. Atlanta, and
•object to Immediate .eceptance,
GROCERIES.
SUGAR.—Ptniulnrii grnnul»ted
ork Refined 4>< to <H; plantatlooa 414 to
Bfo 1*FKtt—Itonste-l ' Arhuekle'n
E^if.r'sr^.T"- wWi *■
RICB.—Carolina 4H to 7Vie, according to
grade. Market very strong.
CIIEKHB-Fan<7 fnll cream dairy, 1414c;
twins 14c: brick. 14c. UarkM .trong,
PROVISIONS.—tinpreme hams 1fi\ Dov.
ham. UHc. I'allfornl* hams 10He: Red t.'roM
bams lie.' Dry salt extn ribs. *3.75: battles
M5 lh.„ ,10.k: fat barks Sc; platas Ic:
Drift com pound, ?gc, uW cross, \
giving moat of their i
tk, new
f September over
ng to predictions of new
crop deliveries Some oil has been offered
from southern Texaa for Angu.t shipment,
and a moderate anwnnt ha» also l>een offer
ed for Reptember and Octolwr dellrerr.
Th. MrUneu of the crop and the favorable
prospects In the central and aottthweat
producing dl.trtrta nuke, those ««tlon.
the Important one, thl. Maapa. while In
the ea.t the crop la later and of ten aat-
(.factory proporfloas ^
bang*.
Aagnat..
Reptember.. .. .
October
November
December
January.. .. .. .
Cloeed steady.
Edgar Alien Poe. American poet, slept
with bln cat. He wa, fond of hit feet,
Sd took reat prlde la their keen.
Darwin, the fimoos Bogllah naturallat.
aevercared anything for a bookjo.t to
E ire a shelf. lie wonld tear a book Into
Ives If It beat sernd bin purpose.
COFFEE MARKET.
New York. August 1.—The coffee market
being on the
lions aad at the
of the ttlfn a~rvanlt of lower
while the Increaslnjr demand de
veloped as the rail progressed and steadied
the later months, and the opening, as a
whole, waa considered a very firm response
to the character of the adlvcea from
•broad.—filbert 4k Clay.
Following la the range of New York cof
fee today:
Opening
Range.
i ranuary 7.85
KSSC7v. :: £ 7J#
May!:'-I:*
- - :l|f|
juffM
.6.96-7.68
.7.30-7.3*
«s»
ill
“ 7.70
TTT.
7.70-7.'
7.7*71
7.00.7.1
WARE A. LELAND’8
DAILY COTTON LETTER
GIBERT & CLAY
ATLAC4TA.OA.
corrcc. provision*
. . MCMBCRIi
Exchange|N>w Orleana Cotton nxchange.lChleago Board1 of Trade.
Yo2 r?U on Ex^nge New Orleans React Exchange.(Liverpool Cotton Awoctation
•a Coffee Lxchange.jXew Orleans Board of Trade.'Galveatoo Cotton Exchange
I .. ■* , . Prlvat. Wire* to all Excbaa,ca.
"* Long DitUnee T.I.phon. 5293.' W. R. FAGAN, Manage*
been antlelpai
The Ttmes-Dmaoent's report early la the
week end the private estimate of the
yenag woman •tatlstlrtan. showing a lom
lene Hub a paint, wired to ex.it 1
---that deprawing Influ.n. e oa the mar-
Tl.!« wa. not luporuat. however,
th* benaa U exoected oa Friday, and
RANGE OF NEW YORK STOCK MARKET
Aiimk'amfitfil Conner
American Sugar Ilertnlng
Atlantic Coast Lluc
Auncimdu
American I/>couiotlve..
do, preferred
American Smelting Refining
do, preferred
Atchison
(lo, preferred
American Cotton Oil
Baltimore and- Ohio
Brooklyn Rapid Transit
Canadian raelilc
Chicago and Northwettarn
Chesapeake and Ohio
Colorado l-'uel and Iron
Central Leather
do, preferred
Chicago and Groat Western
Chicago, Milwaukee and Bt. Paul
Iiclnuurc and Hudson
Distiller's Bccurlties
do, preferred.,
neral Electric..
_JMi OwtraL...
American Ice Securities
Louisville and Nashville..
Mexican Central
Missouri rnrlMc...*....'.i
NetVfYork, Ontario and Western ,,,,,
National Load
Northern Pncltlc
New York Central
N"i f.»ll» and Western
Pennsylvania '....
People’s Cun
Pressed Steel Car
do, preferred
Pacific Mali
IG-ndlng
Republic Bteei
Itock Island
do. preferred
United ntntcs Rubber
do, preferred..
Southern Pacific ..
Southern Hallway
do, preferred
Sioaa-sheffleld. *
Tennessee Coal and Iron
Texas and Pacific
UHN I ‘in'lllc
United Htatcs Steel * A....
do, preferred
Virginia Carolina Chemical
do, preferred
Western Union .'
Wabash
do, preferred..
Wisconsin Central .'
,o. preferred...
Total stock sales today 1,867,006.
RANGE OF THE COTTON MARKET
AT NEW YORK.
The following !■ the nags la cottoa
fnturca la New York to-tav:
Last 1'r.vlon.
Open. High. Imw s*i. note, cioac.
Aug. .4.97 9.97 9.97 9.97 9.96 97 9.95-97
Rcpt. .10.09 10.10 10.01 KUO 10.1H3 10.09-10
Out. .10.B 10J* 10.17 10.S 10 25 26 10.22-2J
lov. , .... .... 19.27-29 10.14-36
Dec. .10.13' 10.36 10.28 10.85 10.84-58 10.M-S1
Jnn. .10.37 10.40 10.33 10.40 10.89-40 10.3617
gar’. ilO.ii 14.60 10. <6 uitO 1o!m52 10.'<*60
Closed atcady.
AT NEW ORLEAN8.
Th* following I, tho rang* la cotton
futures In Now Orleans today:
Last Previous
Open. HIch. Low- Bsle. Close. Close.
Aug. .10.40 10.45 10.40 10.45 10.43-49 10.37-38
Sept. ..... .... 10.29 31 10.26-28
Oct. .10.19 10.28 10.17 10.81 10.21-23 10.17-1!
NOV. . 10.22-24 10.18-19
5SS: :lo a H $8 \& |P m
Feb 19.31-83
Mar. .10.43 10.46 10.40 10.46 10.45-44 10.42-1*
Closed tteady.
TIPS FLASHED
From Wall Street
New York, Aug. L—Daniel
"Bullish operations nre likely In the stock
market today, particularly along specialty
lines. Perhaps the best Indication or lnalde
„„ Toe technical posi
tion has been improved by tho tendencies
of tho last day or two. Conservatively bull
ish operations will eontlnuo, wo believe, to
givo satisfactory returns ns a whole.
Private information In high sources say
dorado Fuel and Iren la not worth any
thing. Would sell It and Brooklyn Rapid
Transit on bulges and buy Union Pacific
and Southern Pacific on weak snots."
Marshall, Hpader & Co.: "Perhaps tho
now phase of tho Russian situation may bo
of more Influence in Europe this morning,
and It la possible the market may broaden
care i
_j prl._ — _—_— — T
prefer buying on such recessions as may
lake place from special causes.
Private Wire to Ware & Inland.
New York, Aug. L—London firm at *4 to
nnd Is n most bullffh feature, wh
I to [ “ ^
cHjMM-lally.
UksSJ^but ^"on^advances think It will be
prudent to accept profits, aa a great deal
of realising inlt undoubtedly take place and
allow reactionary movements.
Loudon a big buyar of Union Pacific. New
STOCKS UEVJEWFI)
' BY NEW YORK SUN
nil through the nctivo list, and for the
first fifteen minutes or so the tendency of
prices was upward under the Influence of a
heavy domand, much of which seemed to
come from tho short Interest. From about
the mbldlo of tho first hour until well Into
the nfternoon business was of small vol
ume, the trading element showing «di“
disposition to await tho publication ol
Bteei earnings. In the last hour, under
the leadership of the United Btntes Bteei
stocks, tho wnolo market took on renewed
strength and activity, so that tho close was
"111 v nt |• rn«• 11«•;111 v the highest flgur.-N of
tbo day* but In the case of many promi
nent stocks nt the highest level touched
(•II fill* I'ICMI-Ilt II l« I \ 4* III 4*|| t.
For tne first time In n long while the
street gavo serious consideration to tho div
idend possibilities in United States Hteel
common nnd anticipations of a resumption
of distributions were shown to have been
liistlfied when, after tho dose of the mar*
NOTES ON GRAIN
Pointers on Provisions.
Private Wire to Olbert A Clay.
Chicago, Aug. L—Liverpool's decline In
wheat not equal to oors, but reports of
Russian revolution seem to be without ef
fect on prices. Proniluont shorts covered
their lines yesterday, and likely to lend
the market support on any toft snots. Wa
•ee nothing to cause any material advance
lu wheat at this time, nnd In fset think
•nme lower prices probable. But the long
side on dins will hv as profitable ns short
side on rallies. Clear oud hot weather In
Illinois corn belt.
bear on wbaat.
Can see nothing In the oats situation to
warrant further setback In values.
Oats opened higher on good baying by
commission houses, with selling scattered.
Corn opened higher on lack of rein In
parts of Illinois where most needed. Pre
dictions are for a skipping of the sami
sections by tomorrow's predicted rainfalls
Strongly urge the purchase of May cori
at the market and on a acnlo down. W<1
will certainly get a acare this month, no
matter how the crop eventually tarns out.
Chicago Record-Herald: "Large deliver
ies of corn were made yesterday afternoon
line waa also delivered by A. V. Booth.
Thenf are only 1,800.000 bushels of contract
corn In Chicago nubile elevators, and out of
thla total 775,000 bushels were delivered yes
terday.
Private Wire to Ware & Leland.
Chicago, Aug. 1.—Corn position growing
- ~-p|« c — ■
who hn\e been holding
iah corn were free sellers yesterday. |
Car lots wheat todny In Chtcngo 29» cars,
rnlnst 502 Inst week. If this falling off
i receipts continues wheat has good chance
for n small advance.
This wheat Is getting Into n price where
there le an aMnHh«iiHHMre|d
bears will notL. .
has been somo heavy buying by scattered
local shorts from the nmuilng until around
7474c, when Armour brokers sold freely and
a setback may toko plnce.
Provisions n slmdo lower on the large
.Dg receipts. Mnrket hns eased off on light
M-lllmr by (’tiiiiinUI.*>oii h-.iif-s. I’n.-kiTH pur
chased sparingly. Demand light
Belling of Keptember onta by Updike drove
market to He. Baying aosttarea.
Hlniply shorts buying wheat, nnd now
Ithat power la out or mnrkot It sinks of Its
own wcIkM.
I Chicago intar-Ocosn: All records were
broken for wheat receipts In .Tidy here
last month. Arrivals were 7.764J)00 bushels,
exceeding the big run of 1902 by 1,173,000
bushel*. In Joly, last year, receipts were
| H bushel*, and in 1904 only 938,000.
r movement of wlient made also a
I sh mark, being 8.886 cars, com pa rod
with 3,1181 cars Inst year nnd 876 cars in
There was a decrease of nearly 3,000 cars
of corn and 900 cars of oats from last
> ear.
Cash business In wheat in Chicago Tuea-
... «•*« tfiA AAA liii.linln mcstl. V/x *9 c*i,
largely to tho seaboard exporter*.
J Bales of corn were 185.000 bushels, oats
160,000 bushels nnd rye 30,000 bushels. |
The seaboard at tho close reported 400,000
bushels sold for export; also, 87.00 corn.
Charters were made for 85,000 bushels of
^ at iqc to BonwH
trades were cleaned np yes-
delivery of 180,000 wheat,
its, 1.750 barrels of
day _
,000 corn, 210,000 UIU . *,,iw .»n
pork and 50,000 pounds of short rib
ORIGIN OF THE TERM
-PHILADELPHIA LAWYER. 1
Th. action of th* Rtcl director, ahonld
■bconrnge holla, and w. rather look for
flmproT.rocnt- thouxh tho foreign situation
U not no satisfactory. ■
taDow-Jonaa' ■□mra.ry:
American stocks In London firm *cncr-
PKaunn^u^'AlIroad^wm reduce mail!
mum on.ivny fare cast of l-lttabor* to
2V4c ncr mile trnnfcrahl* mtlea*o.
Jniiip* J. Hill ha* laid down the role
that Great Northern alockboldern will
Inercr reel re more thnn 7 per cent din-
1 YV*lli-F*rgn aurplna nenrir *I*.00»,690.
Twin Cttr R»P*d Tmnnlt enraln* n#«rljr T
per cent on common itiwk.
Juljr lN>nd market mad* n now low ne
urit for that month. '
Chesapeake nnd Ohio earned In Uw ll*cal
Tear nboat I per cent nn lb* atock.
r Jnittce Gaynor **r* that frclfht ralnn U
th* mother of monopot*., ,
■The reanmptlon of dividend! on flt««l
it.e-k la dne lar**!, to Mcord earn-
lc,l».lW for the necond quarter.
WKchawe tranaaetton* In Jul/ »-
■ssft
fflac* til* Brat of
'Tlv* T*«r« ornlna* of ten railroad,
abflw an Inereaa* of 40 iwr rent In noon
and 7* per cent In aurplns applicable to
'"'Twelve*'Indnatrtala advanced -49 per cent.
Twenty active railroad* advanced .» per
cent —war. A I-eland.
tk* new obll-
tant a docn-
cotton iu
w operator, car* to undartaki
tlona on the ev» of no Import:
meat Th. rfovt «o mU a llttt* conon ran
th* market off >04 point, very qnlckJr,
after which It w*» supported vlxorooilj
and prices meradl(me* to about lam
ntnhtn 6*ur*a. WenknaM In to* »ot
portion, aid In tk. nrar month. In Civ-
Spool, with recjlpti of ovjr 3W bale, of
naw cotton nt Houaton today nerved to
•how th* wel*ht o^nctMljtnff. Very llt-
the chan** In tStceiTI. looked for bafora to*
rapovt, nod after that It will raqnlr* m»
unforeseen trouble to brln* about au ad
vance.
■ Hna the definite origin of tho phnus
"a Philadelphia lawyer” over -boon
Klvcn? Only two explanation, of tho
expression are known to the present
writer. When In Philadelphia n year
or two n*o a bvnr of tfiat (fir M*|
formed me that the expression had
nothin* to do with hln,native town, but
owed Ita Oiiffln- to a street In London
tunned I ’ll' In'! •■ 11 tl In, wlu-r.
yen lived. Thin explanation Is Inge
nious and seems to have but a single
serious defect—namely, that such i
i- 'iid-m Mreci exlsta only In the Im
agination of my Informant. Tho other
expluruttI- ti Im f'-uml In Bartlelt’a Die
tlonary of Amcrlcanlama (1177), where
wn read:
-Philadelphia lawyer. -That beat* a
Philadelphia lawyer.' -He knows aa
much an a Philadelphia lawyer.' The,*
are common sayings, whence It Is to
he Inferred that the bar of the Quaker
City are distinguished for their let
Ing and shrewdness.” (Page 462.)
This In thn obvious explanation of
the expression, and there seem, to be
no rood reason for not accepting IL
An, howevnr, thn history of the exprsa
nlon hns never beeit *' ■■
or three extracts wll
SOUTHERN EXCHANGE
Oldost Established Office South.
conon "STOCKS BONDS - MlIN
Ground Floor Gould Building. Dally
marfcet letter and market manual
mailed on application.
LJ. ANDERSON & CO
Bankers and Brokers,
COTTON. STOCKS, GRAIN
Correspondint’s Capital $250,000
RCrCKCNCC, THE NEAL BANK
PHONE S4I7. PRUDENTIAL BLOC
>l<*a of now oats from South
onlay, tenting 38 pounds end yields run
ling t»d to 70 biifihf > ln to tho acre.
Storm Lake, Iowa, unld tho flrat two
flrlds of oats threshed yielded 46 to 55
buBhola nor acre.
Crop Expert B. W. Know returned yes
terday from the Canadian northwmt. Ho
hhj-h: "Manitoba will rnlao the Urgent
crop of wheat that over grew out of tho
ground In tbnt country."
Nebraska grain deplore predict a heavier
movement of corn soon. "Almost every
nftent we havo says there will bo free
movement of corn next week," wired **
dike, of Omaha. “I believe myeelf
aro going to have a good movement of
corn. Farmer* are nlao commencing to
■ell oat*. Wo bought 3.000 burihHa nt ooo
of oar Nebraska stations yestorday."
OPENED STEADY
AT FRACTION IIP
Changing Over from August
to September Option the
Main Factor.
LATTER IS ES T DEMAND
Unsettled Political Condi
tion in Russia Was a
Stimulating Influ-
By Private Lea.eil Wire.
Chicago, August 1.—Cloning pvlreg
for tho day showed declines of 1-4®
3-8o for wheat. S-8c for corn. l-4c for
oat, and 71-2 and 32l-2c for hog pro
ducts.
The early strength In wheat proved
tho downfall of tho market, aa tho
selling waa on a liboral scale. There
was talk of 75 boatload0 of wheat hav
ing been taken at New York, but thla
waa not confirmed at tho cIomo. Tho
Kansas City Star estimated that Kan
sas has raised 90,000,000 bushels of
wheat this year, and there waa Home
abort aelllng hero on thla.
Cash salea, besides those given above,
wort 100,000 bushels wheat, 60,000
bushels com and 80,000 bushels oats at
*'hb ago, also ton loads corn and 150,009
bushels oats at the seaboard.
Primary roodpts ..f wheat 1.491,000
bushels and com 377,000 bushels, com
pared with 1,347,000 and 421,000 re
spectively o year ago.
Clearances Wore 479,000 bushels ot
wheat, 46,000 bushels com and 24,000
bushels oats.
CHICAGO GRAIN MARKET.
Open.
WHEAT-
Rept.... 74%
~ee 77%
:ay.,... 81%
CORN-
Bept.... 49»4
Dee 47%
May..... 48
OATS-
8ept.... 31%
Dec 82%
May.... 84%
J'ORK—
Bept... 16.60
Jnn.... 14.00
LARD—
Bept... 8.67%
Oct.... 8.77%
Jnn..*. 8.05
BIDES—
Kept.. 8-90
t.... 8.72%
High.
Low.
Close,
«
81%
73%
79%
73%
76%
80%
50%
47%
48%
48%
46%
47%
49%
46%
47%
81%
32%
34%
80%
81%
33%
30%
31%
33%
S3
16.72% 16 25 16 52% 16.15
14.05 14.00 14.05 14.15
Jan.,
7.47
8.82%
8.65
7.47%
K
PRIMARY MOVEMENT.
Interest In 1817 James K. Paulding
wrote:
"It would putxle a Philadelphia law
yer to mako a romance out of a log
nut" ("Letters from the South," 2, 44.)
In 1881 Captain Thomas Hamilton, a
younger brother of Sir William Hamil
ton, and the author of "Cyril Thorn
ton," visited this country, and his In
evitable book of travels was published
at Edinburgh In 1838. In It Captain
Hamilton pays this handsome tribute
to the Philadelphia bar:
"During my stay in Philadelphia I
frequently visited the courts of law.
The proceedings I happened to witness
were in nothing remarkable, and I have
already described the externals of an
American court. It Is not unusual
among the lower orders In England,
when any knotty point Is proposed for
discussion, to say It would 'pussle a
Philadelphia lawyer.' To do this, how*
ever, it must be knotty, Indeed, for I
ha v *• n« - .-I met a b«id> -f m«*n m u •*
distinguished by acuteness and exten*
sive professional Information than the
members of the Philadelphia bar."
("Men and Manners In America," 1,
888-884.)
These extracts show that the expres
sion was In common use In this coun
try nearly a century ago, and that It
early found Its way to England.
1' • r
F. Marlon Crawford has used the same
Tho following figure* gl
raovoajaot of wheat and corn Today:
Wheat—Receipt! today, l,49I,0OO r>i]
primary
•olpts today, 1,491,000 husheia,
against 1,847,0m busht-la Isst year; ship
ments today, 997.000 hiishH*. ngnlnnt 748,0W
bn ah obi last year.
Corn—Receipts loday, 377,000 bushels,
• • 421,000 biiRhcls lost year: ' '
J71.000 • * *
els last year.
NORTHWEST CARSl
LIVERPOOL GRAIN MARKET.
6orn opened %
closed % to %
•r; 1 30 p m . % low
to % higher.
: 130 p. m., % lower;
CHICAGO CAR LOTS.
Wbaat.,
Coro.* .
oats.. .
Hop.. .
Today Totnoi
r KT
Joaqnln Miller, American poet, always
nnlleif his chairs to the wall.
Kents, an English poet, ordered red pep-
Longfellow,
f* of them sit. took
id sunset. It waa
bllnieet thoughts.
Alexander Dmnns. the French novelist
nn<l dramatist, bought a fine painting every
time ho brought nut a new nook.
LOWRY NATIONAL BANK
CAPITAL, SURPLUS AND PROFITS
OVER ONE MILLION DOLLARS
Foreign Exchange, Travelers’ Checks, Brown
Brothers’ Letters of Credit available in all parts
of the world.
MADD0X-RUCKER BANKING CO.
htw Orltjh.
ware: a lelan d
COTTON, CRAIN, PROVISIONS, STOCKS, BONDS,
8s. 2 Wall SI.. Fttm BviWag. Illaala. Ca.
MIMBUS:
Htw Yark Cattoa ittbaagt. ChUato Board sf Tradt.
Btw Or Ira" 1 Colton hchangr. Chuaoo Stock tichaoge.
rpool Cotton Attnoatlon. 8*w rath Co'fot tnhaago.
hit at* Wires ta Item Yark. New Orteaas. Chicago. B. C. COTHRAN, bt stager.
— - whs*