Newspaper Page Text
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EDITED BY
I JOSEPH B. LIVELY!,
I j*......
ttv
THE GEORGIAN’S RECORD OF MARKETS AND FINANCE ]
i ^
llr. Lively's 28 year*
editing markets In
Itbe 8outh hns made
/ognlted authority in
experience •
Atisnfa nnd .
him a rec- ;
is specialty. •
TO BETTER CABLES
NEWS AND GOSSIP
Of the Fleecy. Staple.
Private Wire to Glbert St Clay.
nw York. Ana. 22.—Liverpool opened
up. Expected 4<y6 np. *
Liverpool entiles: “Market hns good un
dertone; nothing offering, with Improved de>
First Prices of Session Were
at Advances of Only
Five Points.
Carpenter,
must not L_
•elllug Uxts been going on since llecemtrar
•verlooked thnt this short
was selling nt He.
things equal, the shorts hftv „
“ltd there must be some decided change
* Co. say: “Under the ely-
SOLD HIGHER LATER
now
could Jump over a half cel. ,
quite rcudjiy before the and of the week,
uo matter what the expectation may be
poum
profit Taking, Favorable
Weather and Crop News
Turned'Prices Down.
regarding the next bureau of, the census
“pjMirt.
Mitchell offered WO January at 10.23; Weld
took them. Weld brokers good buyers
opening.
*>etv Orleans. Aug. 22.—Liverpool 6 high
t»r Is a shade better than expected, mi ad
vance of 5 points being due, and Indicates
By Private Leased Wire.
New York, Aug. 22.—The cotton market
hnd a poor opeulug In view of the cables.
First prices were 6 points higher. Pro
fessional trading predominated early In the
session, and It looked at though strong ef
forts would be made to force a number of
big accounts with weak margins to liqui
date. and room traders again started the
fluent
. „ .-Is-Atiuntla mar
kets. /
Liverpool cables: “Market has advanced
in consequence of less favorable crop ae-
counts, reported serious damage by pallia.
and worms lu Texas.
Another cable says: “We think that otir
market will advance, and purchases can be
made cheaper now than for some tin)# to
come.
Waco, Tex.* wires: “Crop continues to
; rains will delay movement some.
ipi . .
at doing no dnmagi.
Mnrket Is quiet but steady, the slight
Improvement In ‘
The
while
opening for cotton for future dellv-
New York was disappointing in that,
nu advance was noted, it was not n
iprovement In opeulug prices seemingly
Ml maintained on scattered buying for n
full response to the better advices from
Liverpool, both spot and futures in that
outer living slightly better than due.
As ott yesterday, however, better prices
followed the opening, the high point of the
previous day being nussed, from which level
tin* market turned downward, taking of
profits, favorable weather and liberal move-
Map shows widely scattered rains over
loudy weather in the western
alternate clear and cfloudy In
lent at i
flufiices.
eastern.
Liverpool better than expected, and
morons bullish cables may cause a higher
market nt openiug. although crop news
shows no falling off from tbo excellent
tenor previously maintained.
The New York Herald, In its review
of the cotton market last Hattirday, says:
• Some Interests profess to have confl-
donee in a yield of, nt least. 13,000,000 bales,
while more conservative estimators regard
I'.’.iW.OOO bales ns the maximum figure,
mul under the circumstances It would
scfin that a miraculously flue condition
must prevail from now on to give up a
crop a million titles larger than the Inst
mu-, lu order to raise 13,000,000 nnles from
rids season's acreage, it means that every
acre must l»« picked and every acre produce
230 pounds. IIow much likelihood there is
„ dispatch From'’llfeohahi, Washington
county. Texas, says: “Shower# hare.fall
Some farmers say
is made now, but timt conditions
favorable for the maturing of young bolls
now in the plnut, which, with favorable
comparing this season with thut
ears ago, when the average yield
223‘pounds to the acre, nud the crop
< I. <rfw.it f lioflor "
weather, would increase tha yield consld
erably.’*
Waco. Tex., wires: “Rains delayed opei
ig, picking nnd marketing, but no serloi _
...image, although worms and weevils are
doing some damage. Crop in Texas Is a big
«Me.
Greenville, B. C., wires: “Crop Green
wood to Greenville spotted, but generally
pood. Weather continues Ideal, and crops
Improving daily. Carolina ten days late/'
condition throughout decidedly better.”
SPOT COTTON MARKET.
Private Wire to Ware Sc Lelsnd.
New Ydrk, Aug. 22.—The market opened
* • At 12:15 - “
Atlantn, quiet nt 9 7-lGc.
New York, quiet at 10.10c.
Liverpool, quiet at 5.44d.
Augusta, quiet lit 99*0. '
Futures duo to come about 4 np.
Cottbtl opened disappointingly.
Weld brokers heavy buyers.
Tommlsslon houses sold.
SavnmuUi. steady at 9 3*18c.
Nt. Louis, quiet at 10c.
Huston, quiet at 10.10c.
Houston, steady at-9%c.
Irnltluinre, notulual at 10c.
Gatvestou, quiet nt 9ftc.
Memphis quiet nt
Ing. Trace of too much rain In Georgia*
being only criticism of It. .
There does not seem to be enough buy
lag power to sustain the market. Stay
worked up a little more and forced short
covering by weak shorts. Can see nothing
Norfolk, steady at 9*c.
LIVERPOOL COTTON MARKET.
Previous
Liverpool. Aug. 22, 12:15 n. m.-Cotton.
•not demand‘Increased, with prices steady;
middling uplands D.44d; sales 7,000; Amer-
lean 6,300; speculation and export 600; re- moderately high,
colpts 100, all American.
Futures opened steady.
Opening
’lunge. v-iuno. i.iw*
..5.15-5.17 5.14 6.11
...5.09-5.11 5.08 5.06
..5.03-5.06 6.03 4.99
.5.00-6.03 4.99-5.00 4.96
,.6M4.02 4.99-6.00 4W
.5.01 5.00-5.01 4.97
..5.04-6.08 6.02 4.99
, .5.01-5.00 5.04 6.01
hammering the cotton market and
selling Plenty of cotton.
New Orleans, Aug. 22.—Liverpool vms due
4®5 un on both markets, therefore*, np to
now the English future market was very
favorable. Even more favorable, however,
was the better spot demand.
Temperatures art
THE WEATHER.
August.
LOCAL FORECAST.
oet.-Nov..
Nov.-Dee..
Dec.-Jan.
For Atlsnta and Vicinity—Continued wimp
Man’ll-April. .
Aprll-Muy. . .
Closed quiet.
.6.08-6.0
I.Ofi-6.04
WEATHER CONDIT IONS.
TODAY’S PORT RECEIPT8.
The following table shows receipts at the
eral during the past 24 hours, aufte
over the Mississippi valley anu tbo South.
Today the center of highest barometer Is
In Montana, where the presaure la only 80.00
Indhe*. Over the rest of the country the
pressure Is low, flat and slngglsb.
The temperature has changed but little
except In the upper lake region, where it le
somewhat cooler.
Jn the last 24 hours sbowtrs have occurred
In portions of Georgia, along the Atlantic
coaat from Florida to Maine, along the
northern border of the United 8tates am*
at a number of stations In the Rockies.
The sluggish'eastward drift of the atmos
phere Is favorable for continued warm
weather In thla section, with scattered
INTERIOR MOVEMENT.
WEATHER IN COTTON BELT.
The following tnble ihow, taedptn at the
Interior town* today, compared with the
•ame dtp ltet year:
Teite-Tyler oleer and warm. / Dalle,
pertly cloudy end worm. Houston pertly
cloudy eud pleasant. Fort Worth cloudy;
reined leet night. San Antonio cloudy eud
Houiton, .
Auguete. .
Mnnpble. ,
Texee Rainfall—Dallee. St; Blanco trace;
37®
uas
■la, PIFaIU .Va, AiRCOk*
Sen Marcot it; Sher
man -u; uayior .m: Temple ,0t: Waco .20;
Wane hate hie .00; Weatherford ,3t; Wharton
.01: Huntavllle, Gnlreaton anil Son
tonlo, trace.
L. J. ANDERSON & CO.'S
DAILY COTTON LETTER
decn, New Albany nnd Tupelo deny and
L Aiahama-Selmn, Montgomery. Opelika
New York. Aug. 21-IAwpool ’ again
endeavored to rate, the price of cotton
wncth of 7 points, which advance wsa |
WEATHER IN WHEAT BELT.
maintained up to the 2 p. nu call. Rut New
York responded only feebly, anil aftqr
rarly w adranra, prices again, began to sajj
f, ff. T.lverpool losing the biggest part
Its gain. Heavy rains were reported
throughout the belt, but otherwise the news
Extreme Northwcst-Psrtly cloudy; 88 to
84 above; general rains.
Northwest—Cloudy; 54 to 88 above; gen
.West anil South wcst-Psrtly e!oodv; 68 to
76 above; general raJnt In Illinois; lor-*
eral rnlns.
luc MUk w „„ —■ TT _ . Weet ani
°f the day was featureless. Complaints 78 above; genci
of weevil and shedding are^also reported Missouri. - .
from Rome sections, but the bulk of the Ohio Valley—1
local wins. ^
WEATHER FORECAST.
focal in
-Partly cloudy; 72 tb 78 abova;
ever, that even a Torge yield la discounted
by these prices and as a rapid change may
occur during the next month, we continue
to believe it dangerous to sell short at this
level. Cotton at *Vkc to the farmers Is
THE DRY GOODS MARKET.
New York, An*. 22.-The dry goods mar
ket was Arm with an aettrs trade going
on in the jobbing houses. A white good*
*a!<* was the feature of the day’s bus!-
D *e*. and a large volume of goods
moved. Print cloths were Arm, and some
[ine« for delivery within thirty days were
very Brare*. Cottorl yarn* were steady on
9 pner numbers, nut weak on the coarse
cumber*. A moderate business was doing.
Ahnut i 508 bales of 3.S0-yard sheeting bare
--•■•..V t lynira oi .i.vi-yani iiia-fiinR imv*
JT-n iclil for Uwl 8c» port*, anil an ac
Jit. South American cant coaat trade la
■1 progrc.-Oibert A flay.
Georgia—Local ralna Wolnetday and
'hura.lav, light to freah rartablo wtoda.
Virginia. North Carolina, (tooth Carolina.
Baatcrn and Woatcrn Florida-local ralna
WWncuday and TMrtday; light to freali
T *Ai;!)am". ,n ' 1 5riaala»lppl, Lpnlalann and
Texaa—Generally fair Wedneaday and
wStT^ka., Saw* Mexico. Artxona. Ten-
. Arknnaaa—Hhowm Wedneaday and Thnra-
hdUon^^owert^'tonlght or Thnraday;
cooler In north portion.
Mlnnetmta-SIwurcra tonight; .fooler In
aontheaat portion; Thnraday partly cloudy,
with ahowera In ca»t portion.
lows— SIWITMi
dar ahowera: cooler tn Mat portion. .
Mlaaourl— Shnwera tonight or Thnraday;
° < Kanaaa > and , ^°ath Dnkota-Sbowera and
GIBERT & CLAY
>• K ALABAMA *T.
STOCKS. BONOS.
COTTON. GRAIN.
CO FFCC. PROVISIONS
ATLANTA, OA
MEMBERS
few York Stock EiehangsINew Orleani Cotton
York* c" Goo rasr.’gsr
At* York Coffee Eichanffe-I-Vetr Orleani Bfnr.1 of Trade./Galieaton cotton r.xmangw
Local and Long Dlitar.cn Talephon?52S&! Lxcb * n 1fil n. FAGAN, Manaptr*
AT THE OPENING
Commission Houses and
London Were Heavy
Sellers Early.
CAUSED THE DECLINE
After First Few Minutes,
Quiet Buying Stead- ,
ied Prices. /
Ry Prlvutu Leased Wire.
New York, Aug. 22.—It was difficult dur
ing the first'two hour* of today**, trading
to dtafluirnUU any tendency ut tiu lu tho
prire mo.euieht. For the entire.'rapruing,
tide of speculation movetit restlessly
and fro. At interval^' creditable
strength was shown; at other times It ap
peared thnt realising Miles s/*ro sufficient
to till every bid of speculabnni anxious to
renew the rise. Generally, the trading by
more subdued, nnd tho tango ot
was much narrower. The featuro of |he
morning was Great Northern preferred,
» bid up violently 10 polnttf
opening nguotos. Northern l’n-
dfle rose briskly In Sympathy, and the
at
liirariii un* c m niitriiitim c rniLuinuoiiB,
with the movement jfn steel shares, caused
The whole nttUude of the speculative
community was one of profotiud uncer
tainty.
In the stock market opening changes for
he most part - showed Irregular fractional
hauges. UnlAu 1‘ndflc opened off %, but
recovered Itsv loss. Declines as s rule av.
ernged H to Amalgamated Copper open
ed at a gala of % to lOSifc, then rose to ifoVfc.
The stock market’s principal topic of dis
cussion is of the Great Northern ore deal.
Houses timt have lteeu heavy buyers of
11111 and. Harritnau stocks, nnd also of the
Hteel shares say that an announcement lu
regard to the ore contract Is very close to
band And may be made today.
and commission hout.. -
of the list. The nunply nnd pressure from
thuiie sources caused early declines ranging
from small tractions’ to a point, but after
the first few minutes there was quiet but
persistent buying all around the room. The
volume of business lu the first hour fell off
again.
Governments unchanged. Other bonds are
Irregular.
LONDON STOCK MARKET.
STOCK—
Anaconda
Atchison...
Canadian PSelflc..
Chic., Mil. and St. Paul
Brie....
nrie.... .. »• .. .. •• •• ....
Illinois Central.. .. .... ..
Louisville and Nashville.. .
Heading.. .*
PentosyTvanla
Southern, Pacific,
Union Pacific
United States Steel
do, preferr^l
RANGE OF NEW YORK STOCK MARKET;
Amalgamated Cop
uerif
_.ciui Sugar fteflnlug
Atlantic Coast I.iue.,..
Anaconda
American Locomotive
do, prof cried...,
American Smelting Refining
Atchli
Jo. Prefe
ed..„
do. prefei
Anjcrlcuit Cotton oil
Rnltlmoro nud Ohio
Ilrooklyn Ilapbl Transit
Canadian l‘nH(lc
Chlcugo and Nortbwettsrn
Chesapeake and Ohio
Colorado Fuel and Iron
I’emral leather
do, preferreii
Chicago nud Great Western
Chicago. Milwaukee and Ht. Paul..
I><*laware and'Hiidson...
glatlller’a spcuritlcs......V.’.*.’.’
do,.t)^wrrt....V. , .V. , .‘.V.V..V.*.V.V."
General Kleetrlc
Illinois Central.
American Ice Securities....,
Louisville and Nashville
Mexican Central.....
Missouri Pacific
New York, Ontario nud Wwtiff.
National Lead.
Northern Pacific
New York Central
Norfolk and Western
Pennsylvania
People’s fins
Pressed Steel Car
do, preferred....
Pacific Mali
Republic .
Itock Islsnd
do, nreferrod..
United States Rubber .
do, preferred
Southern Pacific ,
Southern Railway
do, preferred...
SloKs-Sheffield.
Tennessee (’mil and Iron
Wisconsin Central .’
io, preferrgd
Total stock sales today 1,563,900 shares.
RANGE OF THE COTTON MARKET
AT NEW YORK.
oct. ,
Nov.
Dec.
9.89
Mi
32
8.89
9.16
8.78-80
8.87-89
9.06-08
9.11*13
— 9.16-18
9.25 9.26-28
8.80-88
l| H
9.0S-09
9.18-15
9.17
9.26-28
P.32-33
9.88-27
Closed barely steady.
AT NEW ORLEAN8.
tures In New
nr b
0 |i
Aug. . .
Sept. . .
Oct. . .
Nov. . .
Dee. . .
•fan. . .
Feb. . .
March. .
Closed steady.
TIPS PLASHED
From Wall Street
Private Wire to Olhert Clay.
New York, Aug. 22.—Marshall, Spader &
Co.: “Wblla moncjr rates may be the au<
log Influence today, and re-
g the possibility of go**
agerly looked for, the
> Include gossip cone*
STOCKS AND BONDS.
WARE A LELAND’8
DAILY COTTON LETTER
Ang. i ___
acter of tb* cotton market Is not difficult
to explatu In view of the extensive de
NOTES ON GRAIN
Polntsrg on Provisions.
ilcago, Aug. 22.—Wheat opened firm o«
the ndvauee lu tho Northwest, which, some
think, wna due to a little run ou (he part
of shorts (u September up there. Armour
sold December here.
The tone ot the wheat market Is distinctly
changed from the past two days. Males'cau
only be made at concessions.
Tue undertone of wheat has gradually
gained streugth the past few days, and as
prices bold steady with no selling pressure
mi the market, some rurther rally seems lu
order.
Tha pit crowd who on Monday were sell
Ing Ssutember wheat short at 70e are now
going Jong of December around 75c. Don’t
see the logic of it.
Oats opened shade higher ou buying by
tho pit crowd. Harriett, Frasier & Co. are
now fair sellers of May. Updike now sell
ing May.
Inter-Ocean: Vandusen-llarrlngton,
M.uues^olis, says: “It Is too early to estJ
mate
shrinkage of late crop lu the
day of damage of 1*
count of hot waotber seem to oe very ex
treuie from Inter reports. There was un
doubtedly some shrinkage. Weather north
now In good.”
As to Nebraska corn, Fremont wires:
“Samples of growlug corn coming to the of
fice yesterday and today show they are best
we ever had at this time. Kernels are
between milk and dough, ears are filled tb
tip nud very heavy. With continuation of
the stronger yesterday, reflecting deteriora<
this factor will hove a potent argument for
her prices.
iftter demand for oats.
... think wheat an excellent purchase.'
The i:hlrnjr‘> Hecord-llerald^ says: “It- Is
best of authority thnt u i
AVI bushels Hcptomber wheat to
elevator concerns, which gave the Decembr
tu return nt a preuduui of V P‘f bushel tor
have been pretty well Ih.
continued decline of 15c per ImstieK
rilNl grain Is now lu strong hands. Sales
or cash grain Ih Chicago 46,W0 wheat, 125,00(1
corn and 170.000 oats.
“fieaboaril sales 104.000 wheat, 28.000 corn
nnd 75,000 oat*. One firm yesterday bought
40.000 bushels corn, the largest purchase it)
The ii
thirty days.”
COTTON HIGHER
ON PROFIT TAKING
the da.
trade, liu-luding some of the more p
lueut Interests. Is still bearish, but
the time being, nt any rate, there was
more disposition to secure profits than
there was to vngnge extensively lu new
l urn, uip irreif’is ui new , ..
heavy. Houston getting 8,999 new bales.
Galveston 6,702 aiul New Orleans 93. The
westfier at the South was, in the main,
favorable, though showers were reported at
many points In Texas nnd a further prvclpl
Utlon occurred In North Carolina, where
the government says heavy ralna of fate
have ranted considerable damnge. Rut, on
the whole, the crop reports continued to
Indicate s large yield, nud this accounts
most everywhere. Yet '
Iiiflueuce for a Firmer Open
ing in the Wheat
Market.
CABLES WERE HIGHER
The Canadian Crop Report
ed Damaged Was Also o
Bullish Help. *
By I'Hr.ti* iWiihI Wlr,.
Chtngo, Aug. 22.—There was a firmed
opening in wheat today lnfloenrr#
chiefly by reporta of excessive rains
In the northureet and a forecast for
more today. Cablet were 3-8d higher
on reported damnge to the Canadian
crop and a firm Winnipeg market.
CHICAGO GRAIN MARKET.
No. 2 red 73l;fa>73*.i: No. 3 rod
Jo. 2 hard whiter «M4$72; No. 3 do
©70*.
PRIMARY MOVEMENT.
movement of wheat nud corn:
\Vhent—Receipts today 629.009 bushel*,
mlnst 621.000 bushels Inst year; shfr>m*fA«
sht.v 218.003 bushels, ngalust 316,000 bush-
4’oni~it*eelj>ta today 633.000 bushHs.
against 718,000 bushels last year; shipment*
today 400,000 bushels, against 460,000 bushels
last year.
LIVERPOOL GRAIN MARKET.
ilHj
Rid. Asked.
Georgia 4K*. 1915.. m
Georgia. R. R. 6*. 1910 1<* ,
Savannah 5s. 1909 ••••
Macons 6s, 1910 ,.106
Atlanta, 5s. 191L. 106
Atlanta, 4H*. 1922 107
Atlanta 4s. 1934.. lg
Atlanta and West Point. . . .!«
Atlanta and West Point Debts..107
Central Railway of Georgia 1st
Inrome .......
do, 2d income..
do, 3d income.. ..
??«*“• ?g
it*W
Items will also ’include gossip cpncerijlng
the ore deal and reports that Union Pa
cific holdings of Investment securities majr
IliesfloB
i vleir
narrow margin of surplus respective-
held by the banks, and the kind of ro
pass into tu« hands of a syndicate <
113 , nation* exceeding 9J00,000,(m>. The qiic
22*2? Imports becomes Important In
3 r, 34i of the narrow margin of eurplus respei
in
170
UO
important proportions. Meantime, the only
guide you hare to these developments la
the action of the market, watch may have,
Augusta nud Savannah
Southwestern..
Georgia Pacific lata.
and A. late..
■M
COTTON REGION BULLETIN.
For tb. 24 boon .ndlng it I a. m.. nth
meridian time, Anrut a, law.
STATIONS OF
ATLANTA
DISTRICT.
•Atl.nt., plMir.
•rhnttrtnooRa. Plear.
t'olmnliu.. clpar, . .
Galn.avlllp, plear. .
Graanrlll,. plear. .
Griffin, claar. . . .
•Mapon. rlaar. . . ,
Mnntlcallo, clear. .
Newnan. clear. .
Rome, elear. . .
Knarfanbitrff, elear,
TiilUnAAifl. clear.
Tnllnpoosn, clear.
Tnccoa, clear. . •
““eat Point, clear.
MfiT
Max. Mlo.
TTT
•minimum temperatures are for the 12
hour period ending nt 8 n. in. tble date.
HEAVY RAINFALLS.
Macon, Ga..
Black villa, 8. C.. v . .. .. .. .
America*. Ga -
Milieu, tla ..
!ultmnn. Ga..
. ..1.94
. ..3.24
. ..2.20
....1.69
.... George. ..
Florence, 8. C..
Weldon, X. C.. ..
. ..1.74
. ..2.34
. . .2.84
harieston.
Galveston. .
Little Rock.
Memphis.
J *Wle. c . .
Montgomery.
New Orleans.
Oklahoma. .
Savannah. . k
Vicksburg- /}
Wilmington. . . . -I 10
T indicates inappreclabl
ill
Dtit. ATcraan.
Ill
&
*22
IT
70
raTnFair
We
OflcaJly* ....
the metals sud steel stocks supported
the coslere.”
Dnnlcl Odell A “MsrkSt may dla-*
play further weakness today, but think
S ood stocks like Atchison, Southern Pacific.
t. Paul and Norfolk, vrill then be good
purchase*. There was good buying In thep
Issues yesterday.” *
Think Pennsylvania and Union Pacific
will advance. __
The New York Financial Hurran says:
“Discriminating purchases, especially on
weakness today, will, wo have reasons for
believing, give good returns later, although
bearish operations may bo expected in con,
sequence of the natural* rgccsslons of je$-
iterdayjrhlri^sij^mwjBtbsn coyiiu^u*
•urate with tke advance and
of technique much t
the public baa taken n good weight of
stocks. That there has been dlstrlbuTlo^ of
stock* Is plain to us, but that the bulk yet
remain* In inside hands Is also manifest.
Until the market interests shall have suc
ceeded In disposing of their holdings the
trend will continue upward under existing
conditions, ns we calculate thqm. We un
derstand developments are pending, to he
announced from rime tp time, that will
t .. - * - ,4 *i!* enthusiasm. w ~
cllne that hns recently taken place Jn the
effort of a Urge abort Interest, to cover
cotton without causing much of an advance
tn prices and the exceptionally favorable
tenor of by far the greater percentage of
crop accounts at hand from the south,
Uenratloiis are on a more restricted scale,
owing to the uncertainly and the feeling
that the market uiay lie lu for a reaction
of 80ft4O points on an oversold technical
condition. Beyond this, there seems to Ih*
tlmout continues beat .. ...
the progres* or tho cotton crop. It la still
early (ii the season, and ns cotton hns
not sold at 9c In some time, and the world's
spinners needing tt large quantity of cot-
sup
of the stock at present prices. ......
port has onerated In favor of Nteadlness
^ -— -- “
snd ninur larger traders are now willing
to both buy and sell nt the Current level.
The mnrket seems to be In n reactionary
mood, but on nnv udranre, the Houth Is
likely to begin selling agnin, nnd. of course,
Inducements for the trade to buy now no
ticeable would be absent on a rise. It
looks as .though we would have a good
trailing market for some time to come.
bale*, with quotations 3 points high-
... In the past few days, the market
has developed Into a comparatively narrow
affair, aoroly In nted of the broadening
Influence of n more general outside Inter
est. Under existing circumstances, the
more professional elements are not In-
dined to npl the mnrket either one way
or the other, the belief prevailing thnt
crop news,
furnish plenty of bullish
expect to see banking support ngatuat too
sggresslve raldlgg today, and if good stocks
hare already l>een bought on the recession
we iMdtevn they should be averaged confi
dently on further declines, which are likely
to be but temporary. It will probably be
found thnt a recovery will ba led. by spe
cialties, nud these may Ih* found among
low-priced Issues which take less money to
- greater safety.
stated Tuesday morning, the general list
nnd be irregular tempo-
‘ " mort Interest
will, we firmly believe, give good results."
Trieste
New
down.
Wire to Wnre A Inland. •
York, Aug. ■J!.-I.otuloti'%01 point
REMARKS. j
rnightlr higher temperature, weiV report
ed In meet of the wettera ana aonthrm dla-
trirta. Kaltia oertirred tn all except tha Mo
bile dlatrlct. The anieunta were hear, nt
polnto In Georgia, North aad Houth Carolina
and Florida.
THE SUGAR MARKET.
Br Private Leaeod Wire. .
New York, Ang. J*.—Huger, rrdned and
ntw. unetutnged. I-ondon licet market
•teadr; Augnet »• Mid; September »• W.
market will be eitremeljr Irregular.
There la a renewal of talk relating to
United Stalea Hleel inking over Fuel, but
‘r> net attach an- Importance to It.
On eharp decline.. Iielleve tho good
atocka can he bought. <nnd would f*Tor
Hteel. Antalgamaletl Popper, Norfolk, ( he,.
ajH'age and Ohio, Erie nnd the low-priced
r *T«iv la allll hnlllah on Harrtman PaflBc,
and Hill l*ane».
It la reported from gotcl qnartera that
Repnldlc Hleel la ready for a moremem
unward of M potato. The Gate# faction la
underatood to be hondllnn the movement.
Ttpa come direct from the head of thla
Part,.
GIBERT & CLAY 8
DAILY COTTON LETTER.
New Orleani. Aug. at-Barly IJtrrridxd
coidea were dlatlnctif Irolllah on »»» d
a lea. favorable character roorernlng Ike
i ron, which acnllment ontlona earlier folly
reflected, but later Inal when the large
xhort Internet heretne more thoroughly II-
with
cllne bus been so thorough that consbl-
enibla difriculty would, tu all probability,
bs cxportciiceft should an attempt bo mails
to force values lower. Under the sur
face! however, there fle* Important fne-
tors directly and Indirectly Iwnrlng npon
the cotton market, ami which, nt itielr
proper time, will undoubtedly exert tlielr
proportion of Influence. First, the free
movement of early cottou. which oeems to
intis lion of vn (ties In the stock market
may nt the time of Its realisation, lucreass
bearish sentiment, and In opposition the
from low level* recently observed
SOUTHERN EXCHANGE
Otdeat L'atnbllahrd Office South.
COTTOU STOCKS BONDS GRAIN
Qround Floor Gould Building. Dally
market latter nnd market manual
mailed on application.
L. J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, GRAIN
Correspondent's Capital {250,000
Rr.reNENCC. THE NEAL DANK
PHONE 14tT. PRUDENTIAL BLDG
loug account
„ prominent commission
houses for Wall street nud outside ac
count. Room traders also leuight for a
turn, sod prominent spot Interests were
Wheat—Opened 1 mpie higher; at 130 p.
m., %c higher; closed nt Vfl4«* higher.
Corn—Opened unchanged: nt 1:30 p. m.
%e higher, nml closed Wfse higher.
NORTHWEST CARSh
-Glbert
’lay.
New Orleans. Aug. — __
oernt: “YeHterdny’a cotton market was
ratio because or the conflict of profes
sional opinion at the moment mail
_ Hrefill
students of the staple nre unnldc t** tuolil
iM-srlnh argument out of the absence
ter of fact, there would now seem to be
*#me reason for' Hr* belW that tbs
crop nud the tenor of the government s
weekly weather reports have racked Usr-
iy of detail, uud that deterioration
l»e»m more prououm*ed In some sections
than generally suspected- However, pend
lug the growth of the new inovetneqt. n
steady If not n reactionary market Is quite
logical. Logically, the spot market ha* not
ret gone on the hosts ot uew crop values
i»erauao new **ro|* cotton ha* not begun
o wore In the New Orica us territory.
Ibis, of course, accounts for” some, of tue
Olscrepsncy
Si I-eland.
COTTON SEED OIL MARKET.
New York. Aug. 21—The market for cot
ton seed oil was moderately active nnd
i* III
steadier. There was some little cummls-
Heptember wns'mueh lera active.
, There la
a general feeling that the nearby positions
have been pretty well evened up, nit bough
some Interest# nre claiming that there Is
still quite a liberal open account In Sep
tember. The recent weakness lu futures
ha* unsettled fh« markpt for crude, lie-
»orra of faroraldo crop developments In
Texa* and liberal estimates of tho cotton
Hgnlust
Closed steady. Hales 8*9 October at X2%.
CHICAGO CAR LOT8.
Today. Totnorro
THE COFFEE MARKET.
New York. Aug. 22.—The opening of fh*
coffee market made rather n poor showing.
considering the favorable enhlet*. whh-li <1M
not fully respond to the New
cllne of yesterday. This ntnldlltv
Kuropenn market nppeurt
mtirh ns a large share of the rec
itM.
. I* uot above n parity, the
Itelng tho rase.—Glbert Sc flay,
tli»e»lng range and close of the N»-
January.. .
February..
March.. ..
April
May
June.,... ..
July
'Alltflfiat..
Range,
.,7.06-7.10
..7.10-7.20
-1
.7.35
s 7.15-7.45
October..,.
Novemlier.,
Ileceml*er..
t'loawl steady.
..(L70-8.90
-.6.81
..fi.86-fi.90
..fi.994.96
. .7.03-7.06
Mji
\7M
8ome demand for Canadian Pacific In the
I on u crowd, but other stock* plentiful.
Germany placing order* f.»r Smelling Iron
Stale trank Increases Its vupfti
ooo to n.ooo.ooo.
Jjike competition eanses rednetb)
port grain rates.
Twelve ludiiHtrlnl* daeroaifld T8 per ecu
Twenty urtlve rnllronds declined 1 as p*«
cent.
CAPITAL, SURPLUS AND PROFITS
OVER ONE MILLION DOLLARS
Foreign Exchange, Travelers' Checks, Brown
Brothers' Letters of Credit available in all parts
of the world.
east and south |H»rtton; TUuradny fair and
slightly warmer.
Montana—I’Srnjr cloudy-tonight; shower# i
east portion; Thursday fair and slight- i
warmer, |
Ktm OsfctM.
WARE: * L.EL.AN O „
cottonTgrajn, hkovisjons,stocks, bonds,
h. 3 Hfjfi SI., ftl.ri *t}0tll„U. Ot. / •
MEMICtS:
Chltt,, Bttr, tt Trtit.
Ktw Ytrk Cttttt ItcAttpe.
tefefi.T,£S3S!2
trirsl* Wins Is Hew y#rft. few Orltsst, ChUtgs. 8. C COrifffiE ITjasarr.
Bell nssstXJ. StmisrS fU
StnSsrd Ph**e 2%.
MADD0X-RUCKER BANKING CO.
CAPITAL
SURPLUS AND PROFITS
ACCOUNTS INVITCO
$200,000.00
$500,000.00
Wo invito accounts of Individuals, corporations, banks
and bankere nnd offer the best terms consistent with
conservative banking.
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