The Atlanta Georgian. (Atlanta, GA.) 1906-1907, August 22, 1906, Image 11

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The Atlanta Georgian., August 22, 1906, Image 11

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Newspaper Page TextpnMMM THE ATLANTA GEORGIAN. WBDXE81IAV, AtJCI’BT 1900. JOSEPH B. LIVEL ■Tl THE GEORGIAN’S RECORD OF MARKETS AND FINANCE 'W .frely's 25 years* experience editing markets In Atlanta find South has made him a rec ognized authority in his specialty. RESPONSE FEEBLE TO BETTER CABLES First Prices of Session Were at Advances of Only Five Points. . SOLD HIGHER LATER Profit Taking, Favorable Weather and Crop News Turned Prices Down. By Private I.eased,Wire. New York, Aug. 22.—The cotton .market had n poor opening in view of the cables. First prices- were & points higher. Pro fessional trading predominated early In the session, anil It looked ns though strong ef forts would be made to force n number of big accounts with weak margins to Until- date, and room traders ngulu started the movement. The opening for cotton for future deliv ery In Now York wus disappointing In that, while an advniice was noted. It was not a fell resjMUiso to the better advices from Liverpool, both s|K>t mid futures In that center being slightly lietter than due. As ou yesterday, however. better prices followed the opening, the high point of the previous day being passed, from which level the market turned dowuw’ard. taking of profits, favorable weather and liberal move ment of new cotton in Texas being the lu- fluciices. .The New York Herald, In Its review of the cotton market last Saturday, says: •'Sonic interests profeaa to have confi dence In a yield of, at least, 13,000,000 bales, while more conservative estimators regard 12.000,000 bales as the maximum figure, snd under the circumstance* It would seem that n miraculously line condition i.nist prevail from now on to give up a crop a million bules bitger than the Inst cue. In order to raise 19,000,000 Males from this Henson's acreage, it means that every nere inttst bo nicked and every acre produce 2.l‘) pounds, flow much likelihood there Is i<.r anything of the kind can Im* deter mined by comparing this season with that •>l two years ago, when thu average yield h;im 223 pounds to the nere, and the cron rendition throughout decidedly better. spot cotton*"market. Atlanta, quiet at 9 7-16C. New York, quiet at 10.10c. l.lVerpoul, quiet at 5.44(1. Augusta, quiet at #%c. Savannah, steady at 93'16e. St. J<ouls, quiet at 10c. Boston, quiet At 10.10c. Norfolk, - Mobile, dull gt tyc. New Orleans, steady, 9%c. NEWS AND QOSSIP Of tbs Fleeoy Staple. I'rlvnto Wlro to tllbi-rt it Clay. New York, Am?. 22.—Liverpool opened 6 Op. Kv]ieete<l l-SlB up. I.lvevpool ruble.: -‘Market luia Rood un dertone; nothing offering, with Improved de mnnd from .pinners." Carpenter. Baggot A Co. any: “Tbo fact unjat not be overlooked that this abort selling lins been going on since December waa aelling at Ur. ao that, with all other things equal, the shorts have the advantage, and there must Ik* some decided change before a bull eampr 1 — — *---*■• with success, and w the short side." l>Jrk Bros. * Co. say: "Under the eir- citm*biiieca and on technical speculative grounds alone we can see how this market could Jump over a half vest a pound Quito readily before the end of the week, no matter what the expectation may he regarding the next bureau of the census hell offereil 500 January at 10.28; Weld took them. Weld brokers good buyers on owning. New Orleans. Aug. 21,—Liverpool 6 high- .* Is a shade better than expected, an ad vance of 5 points being dut. and Indicates a readiness to respond to any further mod erate gains recorded In cts-Atlautlc mar kets. Liverpool cables: "Market has advanced In consequence of less favorable crop ac counts, reported serious damage by ntlus, and worms In Texas. - Another cable says: "We think that our market will advance, and purchases can he made cheaper now than for some time to ome.’* Waco, Tex., wires: "Crop continues to Improve; trains will delay movement some, * ‘ doing no damage." --.irket Is quiet hut Improvement •II maintained on scattered buying for a turn. Map shows widely scattered rains over belt, with cloudy weather In the western portion, and nltefunte clear and rfoudy In •astern. Liverpool fitter than expected, and nu merous bullish cables may cause a higher market at duelling, although crop news shows no falling off from the excellent tenor previously maintained. A dispatch from Brenhatn, Washington county. Texas, says: "Showers have fnll- eu again here today, and In soirte localities weevils are reported as dolpg considerable damage. Rome farmers say that the crop Js made now, hut that conditions are not favorable for the mnturltig of young India In the plant, which, with favorable ..... ...though worms and weevils are loliig some damage. Crop In Texas Is a big '*iie. Greenville, R. O., wires: "Crop- Green wood to Greenville spotted, but generally good. Weather continues Ideal, and crops improving dally. Carollnn ten days late. ,f Private Wire to Ware & Lcianri. New York, Ayg. 22.—The market opened steudy 4 up. At 12:16 p. in., 6©7 up, and very steady. Rales 7,000 spots, 8 up at 6.44d. Futures due to come about 4 tip. Cotton oj>onpd disappointingly. Weld brokers heavy buyers. Commission houses sold. steady, the slight LIVERPOOL COTTON MARKET. Liverpool, • Atlg. '22; 11:15 p. tn.—Cotton, spot demand Increased, with prices steady; middling uplands 6.44d; sales 7,000; Amer- ban 6,800; speculation nud export 500; re ceipts 100, nil American. Futures opened steady. ^ Opening Previous Hnnce. Close. Close. August. . 6.15 6.17 I.H 5.11 August-Sept. 5.09-5.11 6.08 6.06 bent.-Oct. 5.034I.M 6.02 AM .6.00-5.0J 4.99-5.00 4.98 , .6.0041.03 4.99-5.00 4.98 .5.01 5.00-5.01 4.97 .5.04-6.06 5.02 4.99 .6.04-5.00 6.04 5,01. ,5.00-5.08 5.06-5.06 6.02-5.03 .5.08-5.00 5.07 5.03-5.04 • t. Nov., ov..I »ee.. cc.-Jnn, . TODAY’6 PORT RECE1PT8. 1 be fallowing table sbowa receipt* at the ports today, compared with the earns dey last year: INTERIOR MOVEMENT. The following table ebowe receipt* at the Interior towns today, compared with the •‘“ue day last year: Memphis. . >r I.miiIh. •im Innntl. L. J. ANDERSON a CO.’S DAILY COTTON LETTER NVu York, Aug. 22.—1.,.. endeavored to raise the price. of cotton imrnlng by opening steady at an ad of 7 Points, which advance war throiiuhont the belt, but otherwise the the i|ny was featureless. Complaints yr weevil nnd shedding nr« also reported irt-ni Koine Hectlona, but the bulk of the ir«d,. continues to tielieve that unless some sceiijent overtakee the crop that the prom- for a large yield. We Iwlieve, l»ow- ?'**■ that even a large yield Is discounted •' these price* nnd ns a raidd rbnuge may *' < ‘ , '' ir 1 durl ,, g the next mouth, we continue , '■•Hove It dangerous to sell short nt this Z x r ,'otton nt *vte to the farmers Is f7 to flood the market unless a cer- {■'"•ty «f 14,000.000 hales Is shown, and now that Is a decided uncertainty. THE DRY GOODS MARKET. kJJ** Y °rk. Aug. K.—The dry goods mar- J5 , l n ’ a * Arm with an active trade going n ft; the jobfiing houses. A whit** goods '!•* was the fentare of the day's busi- i nn . “ birge volume of giMMls.was { , I’rlnt x-loths were Arm, and some for delivery within thirty daya were T *-nr<y. Cotton yarns were steady on numbers, but weak on the coarse A f -oi 1 A ni'Mlernte business WUS doing. ' t-SW bales nf 3.60-yanl sheeting have for llw| Ren ports, aud an nr- There (foes not seem to be enough buy- Ing power to sustain tho market. May worked lr " — * J covering i to buy cotton ou, UOWOV- . -gehill hammering the cotton mnrkfct and selllug plenty of cotton. New Orleans, Aug. 22.—Liverpool was due 465 up on Ixith markets, therefore, up to now the English future market was very favorable. Hven more favorable, however, was the better spot demand. The weather fuap shows very little rain over the cotton belt. Temperatures ore moderately high. THE WEATHER. LOCAL FORECAST. WEATHER CONDITIONS. The decrease In sir pressure has been gen eral during the past 24 hours, quite decided ever the Mississippi Valley nnd the j Month. Today the, center of highest IwroinWer Is III Montand, where the pressure Is only 30.00 Inches. Over the rept of the country the pressure Is low, flat and sluggish. The temperature has changed but little except In tne upper lake reglou, where It Is somewhat cooler. In the last 24 hours showers have ocet III portions of Georgia, along the Atlantic coast from Florida to Maine, along the northern I (order of the Unites! States and t a number of stations In the Buckle*. Tin* sluggish eastward drift of the atmos phere Is favorable for continued warm weather In this section, with scattered thunder showers tonight nnd Thursday. J. II. MAUBUKY, Rectlon Director. CHANGES SILL AT THEJPENING Commission Houses and London Were Heavy Sellers Early. CAUSED THE DECLINE After First Few Minutes Quiet Buying Stead ied Prices. By Private Leased Wire. New York. Aug. 23,—It was difficult dur ing the first two hours of today's trading to distinguish any tendency at all In the price movement. For the entire morning, the tide of speculation moved restlessly to nnd fro. At Intervals, creditable strength was shown; nt other times It ap peared that realizing sales were sufficient to fill every bid of speculators anxious to renew the rise. Generally, the trading by comparison with the previous days wss more sulHlued, anil the range of prices was much narrower. The feature of the morning was Great Northern preferred, which was bbl up vloieutly 10 |»oInt« from Its opening figures. Northern Pa cific rose briskly In sympathy, ami the near association which these stocks nt present have In speculative calculations, with the movement lu steel shares, caused the Inttef to lie held very firmly ou heavy declines. Elsewhere, net changes the morn Ing were generally small. The whole attitude of the speculative community was one of profound uncer tainty. • lu the stock market oiienlng changes for the most part showed irregular fractional changes. Union Pacific opened off 44, but recovered Its loss. Declines ns a rule av eraged 44 to 44. Amalgamated Copper open ed at a gain or 44 to 10844. then rose to 10944. Tho stock market's principal topic of dis cussion Is of the Grent Northern ore deal. Houses that have 1m*cw heavy buyers of regard to the ore contract Is very close to hand nnd may be mode today. Ismdon today sold 60,00-1 to 70,000 share# • supply used earl persistent buying nil nround the room. The volume of business In the first hour fell off again. Governments unchanged. Other bonds ore Irregular. London stock Market. RTOUK- Anneondu A toll Ison Canadian Pacific Chic., MB. and 8t. Pool Krle J Winds Central suilsvllle nnd Nashville.. leading j’ennsjlvnnla... ; tmithcrn Pacific ’nloii Pacific., ,. .. .. United Rtitfes Rfeel do, preferred WEATHER IN COTTON BELT. Texas—Tyler dear nnd warm. * Dallas partly cloudy nnd warm. Houston partly cloudy ami pleasant. Fort Worth cloudy: rained last night. Ran Antonio cloudy and * Texas Hnlnfnll—Dallas. 38; Blanco trace; (IrcciivlUe .42; Kerrvllle .96; iMiunnsa* .76; Longview .42: Luting .42; Mexio .02; Nacog doches .18; Paris .04; Han Marcos .28; Hher- mnii .18: Taylor .58; Temple .08; Waco .20; WnsnhnfeUJe .90; Weatherford .38; Wharton .01;' Huntsville, Galveston and Ran totdo, trace. MlMlsKlppl-r-Yaioo City partly cloudy hot. Natrium clear and warm; temr-... ture 85. Jackson dopr nnd pleasant. Aber deen, New Albany nnd Tupelo clear and hot. Alnlmmn—Keliiin. Kontgonu-ry, rtrx-llkn nml Molille el-Hir nnd hoi. llunUvIllo rlrnr mill Va rm. WEATHER IN WHEAT BELT. Kxtrvwo XorthwMt—Pnrtly oloudy; 30 to M nlwro: gom-riil rnliin. „ , XorthwMt—Cloudy; 5» to OS nlmvo; gou t-mi rain*. .... . " . ... \VMt nnd doothtvMt—Portly t-budy: M to It nlHiro; fpoornt rain. In llllnola; Im-al In Mlanourl. _ .. , ...... Ohio Vnlloy—Portly cloudy; 72 to 16 nliore; ltx-nl mlim. WEATHER FORECAST. Ororgtn—Ipx-nl rnlnn Wotlm-nilay and Thnnulnr. light to frt-nli TorinliU; wlmln, Virginia. North Carolina, South Carolina Fa,tarn nnd Wootnm rlortda—Local rnlna tv>lnt-nday nml TMirmlay; light to frenh vnrl.hli- wind,. ...... . Alnlmmn. Mlulnalppl, Lpulalnna and Tnxnn—(lenornlty fnlr tliylnanday nnd Thnrndny: light nonth wind. Wrnt Ti'Jiii. Nnw Mi-tlm, Arlronn. Ti-n- m-awn-. Kintnfky nml WVnt Ylrginln-I,)- ,-nl rnlnn Wmlni-mUj- and Thiiralny. Arkanniin-Slimi'i-rn Wad ana lay and Tbnr«- ilny. molar Thoraday. Indiana-Hhowpnt tonight or Tburaday; ndrr In north portion. jUnnnrnota—Khownra tonight! molar In •Oiithi-nnt portion: Thnmdny t-nrtly tlondy, with nhowarn In mini poftlon. Iowa—Show.rn and molar tonight: llmrn- iy nbnwtra: moh-r In.mat Iiorthw. Mliwonrl—Hhowara tonight or Thurmlay: ^Snan'and'^iiinth llokota—Khowitra and '* t ALABAMA ST. GIBERT & CLAY STOCKS. BONOS. COTTON. GRAIN, COFFEE. PROVISIONS mcmdcbbi ATLANTA. OA. i Prlrat, Wlrea to all Kuhasgaa. u ..ri- (-ial and Lt,nu DliUnoa Telaphont 52*8. W- n - FAGAN, Mananar, 8TOCK8 AND BONDS. (Inorgtn 4Hs. Ut5 Ct'orgin. It. It. (In. 1910.. .. ftnrnnnnli 5a. 1909 Mnrnna On. 1910 9 . Atlanta, 5n, 1911 Atlmitn, 4Hn. 1922 Atlanta t«. 1«M.. ...... .. Atlmitn nnd Mont Point. . . Atlnnta nml Want Point I>r-lttn.. 107 Crnlral Itnllwny of Clmrgln tat Inminn do, 2d liieoma.. .. '. do. 3d Itioown Omnia RANGE OF NEW YORK STOCK MARKET Keflulng Amalgamated Coup American Sugar lb Atlantic Coast Line Annrowbu American Locomotive do, preferred American Ruieltlng Befitting do, preferroo Atchison do, preferred lean Cotton Oil iOMimake nnd Ohio Colorado Fuel and Lou....,.-, Central Leather _ do, preferred Chicago nnd Grent Western Chicago, Milwaukee and 8t. Paul.. 'riftwant nnd Sludsou isttllur'i .Securities Krle do, preferred., nernl Klee trie., ...nol* Central American left Recnrltle* Dmlsvllle nud Nashville Mexican Central Missouri Pacific New York, Ontario and Wefttft. National Lead., Northern Pacific New York Central Norfolk nud'Western Pennsylvania People's Pressed Hteel Car Heading Republic Hteel * * ’ Bland ... preferred United Rtntes Uubber do, preferred Southern Pacific Southern Hallway do, preferred.,., Rloss-Hheffiebl Tennessee Coal and Iron Texas uml Pacific Union Pnelflc United Htates Hteel do, preferred Ylrglnln-CnroUnn Chemical do, preferred.,....,.,, Western Union Walmsh - do, preferred Wisconsin Central do. preferred.. Total stock sales today 1,663.900 shares. RANGE OF THE COTTON MARKET AT NEW YORK. AT NEW ORLEAN8. illowlng la the ntngi- In cotton fu- i a k 3 j *l»«i 1 '**1! 1 0 l»rcr. | Close I 5 a' t «» 2$ 1141 i Aug Rept. . , . v net Nov. . . , . >oc an ’ air March. . . . oi 9.10 9.27 *9!39 'ii 9.17 '•jiii 'fttt 9.03 til 9.22 ‘02 8.89 9.06 0.14 1% ’9:» 8.76-80 K. 87-89 9.06-06 9.1 M3 9.15-16 9.25-38 9.3042 9.35-36 8.80-86 8.91-92 9.08-09 9.13-15 9.17 9.25-26 ».»43 9.36-37 Atig Rept Oct Nov Jan Feb. March. . . . 9.62 9.1* 9.13 9.15 MB *9.33 9.66 9.23 9.18 9.19 Rp 9.62 9. lit 9.08 *9.09 9.16 >'.a 9.65 9.17 9.10 h'.i: 9.19 " 9.28 9.65-631 9.55-00 9.16 . 9 18-17 9.10-11 9.1M2 . 9.12-13 9.12-13 9.12-13 9.1.7-14 ‘9.18-19 9.19-20 9.21-23 9.22-23 9.2L29 9.29t|I * Closed Imrely steady. ('loml •tnitr. • TIP8 PLASHED From Will Street I’.im ..112 COTTON REGION BULLETIN* Foi* the 24 hours ending at I c. m.. 71th meridian time, Augus^22, 1901 STATIONS OF ATLANTA •Atlanta, clear. . . •chattannogn, clear. Columbus, dear. Newtuiii. clear. Home, rlear. , . . Spartanburg, clear. Tallapoosa, clear. . Torres, clear. , . , West Point, clear. ,:8 Iwnir period ending nt 8 n. n». this date. HEAVY RAINFALLS. Macon, Ha.. Blackville, R. C.. Amcrleus. On.. .. Millen, Ga Qnltiuan. Ga.4 .. Taltahasstte, Fla.. Rt. Gi*orge. 8. C.. Fiorence,;8. .. .. ,, Weldon, CBNTBAL STATION. Atlanta. . . Angnata. . . ( harh-atun. . tlalTMftm. . Little U«k. New orlMiia Oklahoma. . Savannah. . Vlrkatmrg. . Wllnilngtnn Dial. AatragM. Una. Uln. JTJ m IT limiliginu. ■ ■ ■ . A-g.i wo .w T Indicates InapprvdaM* ralafalb ed In moat of the western and aoutheriftlla- trlets. Ifalns ocrurreil In all except the Mo- Idle district. The nmnniitt were heavy at point* In Ge«irgia, North and South Carolina m ... I LMiit-l.ln THE 8UQAR MARKET. Rr Private Leased Wire. New York, Aug. 22.—Sugar, reined and raw, unchanged. linden lieet market ateady; August fa 2%d; Reptemlier 9a W, cooler tonight; Thursday ptirttr cloud/. North Dakota—Showers tonight; cooler In east and south portion; Thursday fair and slightly wanner. Mimtaiifl—Partly clomly tonight; *h«»wers In east portion; Thunslay fair and ■light ly warmer. Private Wire to Glbert ft Clay. New Y’ork, Aug. 22.—Marshall, Spader St Co.: "While money rates may lie the in- preinc dominating Influence tmlay, and re ports concerning the possibility of gold im- R irts will Ik* eagerly looked for, the news •ins will alto Include gossip concerning the oro deal and reinirts that Union P« cl fie holdings of Investment securities mar pass Into the hands of n syndicate on val nations exceeding 3100,000,000. The question of gold Imports lieeomes Ini|K>rtant In view, of the narrow margin of surplus respective ly held by the bsuks, and the kind of re lief to be, effective should assume very Important proportions. Meantime, the only guide you have to these developments Is the action of the market, which may have to endure a fnrtlmr selling movement this morning la-fore the right kind of support would logically apiwar. We expect to gee the metnls and steel stocks supported; also the coalers. ’ Daniel Odell * Co.: "Markot may dis play further weaknen* today, but think r l stocks like Atchison,* Houthern Pacific Paul and Norfolk, will then Im gi** f mrehases. There was good buying In tbcai sauea yesterday.*’ Think Pennsylvania pud Union Pacific will advance. The New York Financial Bureau iu^-. "Discriminating purchases, especially on weakness today, will, we have reasons for iH'llevIng, give good returns later, although bearish operations msy l*e expected In con sequence of the natural recessions of yes terday, which la no more than cowmen aura to with tho advance and will Induce ti re-ex tension of shortage nnd strengthening of technique much to lie desired, now time the public has taken a good weight of stoefcs. That there has been distribution of stocks Is plain to tis, but that the bulk yet rchialim In Inside bands Is also nmnlf ‘ Until the market Interests shall have reeded In disposing of their holdings the trend will continue upward under exls*'— condition*, ns we calculate them. W« drrstnnd developments are peudlng, to be announced from time to time, that will furnish plenty of bullish entbuslssm. Wo expect to see banking support against too nggresslvw raiding today, ana If good storks have already been bought on tho rn*cssbm we Mlcre they should Im averaged confi dently on further declines, which, are likely to Im* but tcm|H»rary. It will probably be found that n recovery will Im led by spe cialties, nnd these may Is* found among up In nntlclpatlon of .Improve- Private Wire to Ware ft Lelftlld. _ New York, Aug. 2?.—tendon 4491 point ' With call money likely to stiffen farther, .reactions can Ik* looked tor, although, the market will Im extremely Irregular. There Is a renewal of talk relating to United Rtntes Hteel taking over Fuel, but - - - — * *——*■ nr» to It, m iKSJ _ Ik, Che*- apntk.'aiid'obo, Krla’anil the kiw-priccd r *Taik la atlll liulllah <m Ilarrlman 1'aclAcs and Hill Issues. . . It la ren«rt«l from aoijl quarter, that ftmmlilk Hteel la rend, for a moremetit upwanl of 10 te.lnu. The tlatea faetlou la uniteralo.nl to !»■ hamUlu the tnovemont. Tip. i-otna dlrert >mu fte head of thla pattf- L GIBERT A CLAYS DAILY COTTON LETTER. New tlrleana. Am- J2.-Karly Idv.rpfiol coidea were dlatlitetiy hulllah on oewa of a leaa faroralile eharaeter eooeenilo* the eron. which aeatlmenr optlona earlier fully rferte.1. t.nt Uter loat when the, larae WARE A LELAND'S DAILY COTTON LETTER aeter of the cotfon market ta not difficult In exnlntn In view of tho extenalre ile- ellito lliat haa reeentiy taken idnee In the effort of a large short Interest to cover cotton without cnnslng much of au advance NOTES ON GRAIN Pointerg on Provisions. of shorts In September up there, .\rmour sold December here. The tone of the wheat market Is distinctly changed front tho past two days. Rales can only 1h» made at concession*. The undertone of wheat has gradually gained strength the past few dsys, .and a/c prices hold stondy with no Helling pressure on the market, some further rally s»cms in order. x The pit crowd who « "•j»t ' " * „ iol. see the logic of It. Oats oiM-ned shade higher ou buying by the pit crowd. Bartlett, Fraxler. ft Co. are now fair sellers of May. Updike now sell ing May. lutor-Ocean: Vundnscu-Harrington, of Minneapolis, says: "It Is too early to esti mate the shrinkage of late crop In the Northwest, caused by heat. Ueport* Man day of damage of lo.ocw.ooo bushels on ae count of hot weuther seem to tie very ex trente from later reports. There was mi douhtedly sou *-•- * "jjg|jjtogga—m now Is good. As to Nebraska corn. Fremont wires "Rnuiples of growing corn coming to the of fice yesterday nnd today show they are best ■Mmmiiftaftglilp lougl tip nud very heavy. W warm weather nnd no fr W. . ... weeks the bulk of our corn crop Is made.' ago, Aug. 22.—Wheat cables ore Aria Good export demand reported front the Routliwest. The >Ilniica|H»lls market wss the stronger yesterday, reflecting deteriora tion of tne cron outlook. Wc stIU heltevr this factor will have a potout argument for * ' ‘ ’ prices. er demand 1 thlak wheat Uhtcnco Hecord-IIernld says: "It li learned on the l»est of authority that a vate sab* was made Monday of nearly 8.< . OK) bushels Rejitdinbct- wheat to two lending -‘-•vator concern*, which gave the Deeembr return nt a preniiuui of %e per bushel for •the latter. Small bolding* of Septcuibcr have been pretty well liquidated during the continued decline of 16c per bushel. The ac tual grain Is now lit strong hand*. Rale* of cash grain In Chicago 45,000 wheat, 125,000 corn and 170,000 oats. "Henboard sales 104,000 wheat, 28,000 eorn nud 75.001 onts. One firm yesterday bought 49,000 bushels corn, the largest purchase lu thirty days," the exceptionally fnvornlde nr the greater percentage of nt band from the South, n more restricted settle, In prices nml tl tenor of by tar crop accounts Oepratlons are .... .. INUn> nm, owing to the uncertainty snd the feeling that the market may be In fur r of ?0$/40 points on an oversold condition. Beyond this, there seems to lie no radical rhnngo lu the position, aud sen timent contlntiea bearish, aa a result oi‘ the progress of the cotton crop. It Is stll early In the season, niul ns cotton has not sold at 9c In some tlqie, nml the world's dry goods trade Is la a profitable condition, .the buying by splnuera and the trade gen ernlly at present prices Is not surprising. In fact, It Is the psrt of wisdom for spinners needing a Isrge quantity of cot (im the coming season to fay lu a norttua of the stock nt present prices. This sup- * * 'rated In favor of ateiidluess fger traders a to now wlilfi f mood, but on any advance, tho .. .. likely to begin selling again, nml, of course, Inducements for the trade to buy now tlcenhle would bo nIncut on n rise, looks ns though we would have a good trading market for some time to come. uny>, ton mirin npnrathely narrow of the brnadtttlng lernl outside tutor- yesterday's dost. 7.000 1talcs, with quotations I (mints high er. In the past few days, the market has developed Into n coptf ' affair, sorely In Heed ol Influence of a more general est. Under existing circumstances, the more professional elements are not in clined to aid the market either one way qr the other, the liellef prevailing that n sharp advance would not Iw In keeping with the favornblenets of crop news, while, on thg othor hand, the recent de cline has Itoen so thorough that consid erable difficulty would, lu all probability, be experienced should an attempt he mane to force values lower. Under th* sur face, however, there lies Important fac tors directly and Indirectly l»carlpg irpon the cotton market, and which, at their proper time, will undoubtedly exert their proiH>rtioii of Influence. First, the free movement of early cotton, which seems to portend sufficient supplies and the early undoing of hedges against spot commit- terest may restiH Its causing a further re* action from low levels r«»c» i ? • i SOUTHERN EXCHANGE OidMt EalmblUhtd Office South. COTTOI—STOCKS—BONDS—GRAIN around Floor Gould Building. Dally market letter nnd market mnnunl malted on application. L. J. ANDERSON & CO Bankers and Brokers, COTTON, STOCKS, GRAIN Correspondent's Capital $250,000 reference:, the nkal bank PHONE 1417. PRUDENTIAL BLDG Hew Orleans. cottonYgraw, ^rovisioSs,Hto 09/ Cation TOCKS, BONDS. Ho. 2 Wall St., •«. dltosis. c *- Chicago Board at Trade, CUcago Stock Ltckaaqe. Hen York Calfee tubing*. KtktBtKS. COTTON HIGHER ON PROFIT TAKING __ ' slightly Sentiment among many In tho more prom iispoettlon to secure profits than •. though showers were report! . ... uts In Texas nnd a further preefpl !citrr«Nl In North Carolltia, where the government nnya henry rains of late caused considerable damage. But. on whole, the crop reports continued to *ate a large yield, nud this account* for the bearish sentiment prevalent al most everywhere. Yet the recent abar~ * dine Is believed by many, to have counted for th* time, at least, the favor- aide crop pro*iH*et*. and there was con siderable buying for the long seconut since yesterday by prominent commission houses for Wall street nud outside ac count. Room traders also bought for a turn, anti prominent spot Interests were good buyers."—-Glbert * Clay. New Orleans, Aug. 22.—The Tlmes-Dcm- oernt: "Yesterday's cotton market was er ratic because of the conflict of profes sions! opinion at tho moment made talent think, but that was about nil. , long the movement of new cotton will Im* large enough to bo counted among each Of concrete meat's ••otto.. ........ .... .— .. a — ; - tor of fact, there would now <w«m to be stme reason for His MW that the crop and the tenor of the government's weokly weather reports hare lacked har mony of detail, and that doterloratlon more pronounced In some sections lint till- prnwlh" itend.v If not a r.— .— logical. Logically, the ajwt market has not yet gone on the basis of new crop value* fiecnusc new crop cotton has not begun to move In the New Orleans territory. I bis, of course, terotmft for some of the la.Mnui...* in .tuif nml iitiflntt rNlnpu '*_ COTTON SEED OIL MARKET. New Y’ork. Aug. 22.—The market for cot ton seed oil wss moderately active and steadier. There was some little commis sion house Imylng. and th* pressure In Heptetuber was much less active. There Is a general feeling that the nearby positions hare h*en pretty well evened up, although sonic Interests ara claiming that there |« atlll quite a liberal open account In M*p. teptber. The recent weakness In futures has unsettled the market tor mute. Ite- porta of favorable croj* develonroenta lu Texas and liberal estimates of Urn cotton iriee* y It Mam was firm, with oi>enlng.—Ware August. .... Mepteudiev. . . OctolM*r. . . • > November. . . , December. . . , January. ...... Closed steady. Rales 100 October at N THE NORTHWEST Influence for a Firmer Open ing in the Wheat Market. CABLES WERE HIGHER The Canadian Crop Report ed Damaged Was Also a Bullish Help. By Drlvatfl Leased Wire, CtilafO, Aug. 21.—There was a opening In wheat today Influence^ chiefly by reports of excessive rains In the northwest nnd a forecast tor more today. Cables were 3-8d higher on reported damage to the Canadian crop and a firm Winnipeg market. CHICAGO OR AIN'MARK ET. for today, follow; Open. WHEAT— Rept Dec May COHN- Kept Dec May OATS— Rept B r i 31 as 29S a 31t» 8.95 8.90 7.20 .55 May 3644 DO UK— Uni,"::, ii'.w" jj.ii" ii!«' i3.« LAUU- Hppt... 9.86 S.62J4 8.66 8.60 Oft.... 8.65 1.67(4 8.65 K.67 Jim.... 7.92(4 7.9S 7.92(4 7.82(1 HlllES^ Sfc: W* m IM Jllll.... 7.22(4 7.26 7.20 t-AHH WlIKAT- No. 2 nil 73'itI73lf: No. 3 nil 7l(ifi7.',: So. 2 hard wliit.-r T1!4B7^ No. 3 <1<> 70ft 9:70(4. . • . PRIMARY MOVEMENT. The following figures give the primary movement of wheat and corn: Wheat—Heceliits tmlay 828.000 bushels. Against 621.0K* Imshels Inst year; shlpmei)* tmlay 218,000 bushels, against 318,000 bush- ■ i last year. . . [Torn—Kecelnts today 632,001 bushels, against 713.000 bushels last year; shipments tmlay 400,000 bushels, against 450,000 umdwl* last year. LIVERPOOL GRAIN MARKET. Wheat—npcoNl HCUc higher; nt 1:30 p. U He higher: ctowH at VfiVie Corn—Opened unrhstigwl; nt 1p. 44c higher, nnd cluieil H(H4c high* NORTH WEST CARS* CHICAGO CAR LOT8. Wheat., t'oru.. , '•nt*. •• llii,>.. . Today. Tomorrow, :: THE COFFEE MARKET. Ehowintf. considering the favorable cabfv*. which dM not fully respond to the New York d»*- dine of. yestordny. This stability of the ”• »penn market nppea^s singular. Inns- tl ns a large share of the recent sell- tif her* Is supposed to hnvo been tor •hirope*a account, and ns the local rnsr- iiet Is not alM>ve n parity, tho rovers* lM*ing the cage,—Glbert ft Clay, for today January., ., •• February.. „ ,, March fa::. J June ... .. July * August.. .... .i Heptember,. .. .. Or totter,. Nor end >er.. .. December.. Closed steady. .. ..7.25-7.35 . ..7.36 , ...7.35-7.4.1 ,,..7.4"i-7.51 , ..6 70 6.90 6.80 . . .480-4.90 . ..6 90 4,85 .. .7.00 7.u6 7:20755 7.25-7.30 7.35-7.41 4 11 8.45 4 904.95 6.96 7.09 Home demand for Canadian Uaclfie In the Germany placing orders fo eltlng Iron London expert* New inti to engtg* 1 next Monday, when 14.600,00 bar gold lie offereil In the open market. Htate bunk Increases Its capital from 000 t» ii.ftw.yx). Lake competition causes reduction In ei- P f,if?i n .oX:t , rl... dccrens^il .38 per cent. Twenty nctlv* rallroods declined 1.38 par cent. 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. Standard Fk VE L. PERU President KOBT. F. MADDOX. Vic*-Urea. MADD0X-RUCKER BANKING CO. CAPITAL SURPLUS AND PROFITS ACCOUNTS INVITED $200,000.00 $500,000.00 We invite accounts of Individuals, corporations, banka and bankers and oiFer the best terms consistent with conservative banking. Interest at the Hate of 3 1*2 per ^ . -----