Newspaper Page Text
THE ATLANTA GEORGIAN.’
WKDNE8DAT, ACOI’ST 23, 1906.
11
• EDITED BY Mr. U
j Joseph B .uvely^ THE GEORGIAN’S RECORD OF MARKETS AND FINANCE H
ilvely's 25 years' experience
editing markers in Atlanta and
South hns made him a rec
ognized authority in bla specialty.
RESPONSE FEEBLE
ID-BETTER CABLES
NEWS AND GOSSIP
Of the Fleecy Staple.
First Prices of Session Were
at Advances, <jf Only
Pive Points.
Private Wire to albert * Clay.
Ae\v \ork, Aug. 22.—Liverpool opened 6
up. Exported 4<fi5 up. ^
1.1 verpo*>1 cables: “Market hns good un-‘
dertoue; nothing offering, with Improved de-
mnml from spinners."
Carpenter, Maggot A: Co. any: “The fact
J** 1 * 1 **» overlooked that this short
•eiiiug hat been going on since December
was selling at 11c. so that, with nil other
thing* equal, the shorts have the udvnntnge,
=s
CHANGES’ SMALL
AT THE OPENING
RANGE OF NEW YORK STOCK MARKET
Amalgamated Cornier | 108^4
Commission Houses
London Were
AmerTenu Suitar ?leflulng
Atlantic Coast Line..
Anaconda ........
American Locomotive
do. preferred........
and
jCTsgjPrev.
. HI.I ff'IMi*
SOfd) HIGHER LATER
Injforc a bull campaign can be* conducteiL
with success, and we favor operating from
the short side." .
Dick Bros. A Co. say: “Under the cir
cumstances and on technical speculative
grounds alone we»cnn see bow this market
could Jump over n half eefct n pound
Quite readily l>efnre the end of the week,
nuittey what the expectation may l>e
Heavy
Sellers Early.
CAUSED THE DECLINE
Profit Taking, Favorable
Weather and Crop News
Turned Prices Down.
regarding the uext bureau of the census
report.
Mitchell offered BOO January at 10.28; Wold
took them. Weld brokers good buyers ou
American Cotton Oil
Baltimore and Ohio
Brooklyn Rapid Trnuslt
Canadian Pacific..'
Chicago and Northwestern
Chesapeake and Ohio
Colorado Fuel and iron
Central Leather /»
do, prefer rod
Chirngo oud Great iWestern
Chicago, Milwaukee and St. Paul....
i
opening.
New Orleans. Aug. 22.—Liverpool 6 high-
" shade better than expected, an ad-
er Is _
viinee of 5 points being due,* and indicates
a readiness to respond to any further mod
erate gains recorded In cIs-Atlantlc u»ar-
By Private Leased Wire.
New York, Aug. 22.—The cotton ,market
b.i'l a poor opening In view of the cables.
First prices were 6 points higher,
fesslonnl trading predominated early In the
session, mid It looked as though strong ef
forts would be made to force a nuuiber of
Mg accounts with weak margins to Until-
and room traders again started tin
kets.
Liverpool cables: “Market has advanced
In consequence of less favorable crop ac
counts, reported serious damage by ralua.
After First Few Minutes
Quiet Buying Stead
ied Prices.
Delaware and Hudson...
Distiller's Securities
Erie
do, preferred....
i
and worms In Texas.
Another cable .says: “We think that our
market will advance, nnd purchases can bo
made cheaper now than for some time to
come."
Waco, Tex., wires: “Crop continues fo
mprnvc; rains will delay movement some,
ient.
The opening for cotton for future dellv-
advance
full re«|K>use to the better advices from
Liverpool, both apot and futures In that
center being slightly better than due.
As on yesterday, however, better prices
followed the opening, the high point of the
previous day being imaged, from which level
the market turned downward, taking of
profits, favorable * * *
turn.
Map shows widely scattered rains over
belt, with cloudy weather in the western
portion, and altefnate clear and tfloudy in
eastern.
Liverpool better than expected, nnd nu
merous bullish cables may cause a higher
1 till, v Kl n ill.I. Ill Klllg «*
... dither and literal move*
of Ww cotton in Texas being the lu-
ueiices.
The' New York Herald, In its review
of the cotton market last Saturday, says:
me Interests profess to have confl-
• In a yield of. at least, 13,000.000 bales,
while more conservative estimators regard
12.0UO.000 bales as the maximum figure,
d under the circumstances it would
• hi that u miraculously fine condition
ust prevail from now on to give up a
•P a million boles larger than the last
e. Iii order to raise 13,000,000 uales from
I* season's acreage, It means that every
re must be picked nnd every acre produce
i pounds, flow much likelihood there is
... anything of the kind cuu Ik* deter
mined by comparing this season with that
.wo years ago, when the average yield
223 pounds to the acre, nnd the crop
audition throughout decidedly better."
shows no falling off from the excellent
ispatch from Branham, Washington
county. Texas, snrs: “Showers hnve fall-
An again here today, nnd In some localities
Weevils are reported as doing considerable
damage. Spine farmers say that the crop
Is made now, but that conditions are not
favorable for the maturing of young bolls
w in the plant, which, with favorable
•ather, would Increase the yield consid
erably.”
Waco. Tex., wires: “Bains delayed open-
ig, picking add marketing, but no serious
„nmoge. although worms nnd weevils are
dolnjf gome damage. Crop In Texas is a big
Greenville, fl. C., wires: “Crop Green
wood to Greenville spotted, but generally
good. Weather continues ideal, and crops
Improving dally. Carolina ten days late.
SPOT con ON MARKET.
Atlanta, quiet at 9 7-16c.
New York, quiet at 10.10c.
Liverpool, quiet at 5.44d.
Augusta, quiet at 9%c.
Savannah, steady at 9 3-16c.
St. liOtils, quiet at 10c,
Boston, quiet at 10.10c.
Houston, steady at 944c.
Baltimore, nominal at 10c.
Galveston, quiet at 944c.
.fiooiiv, min m .71'-'
New Orleans, steady, 9%c.
LIVERPOOL COTTON MARKET.
Liverpool, Aug. 22, 13:16 p. m.—Cotton,
spot demand Increased, with prices steady;
middling uplands 6.44d; sales 7,000; Amer-
b an 6,300;’ speculation and export 600; re-
•-Iptu 100, all American.
’revlous
Close.
5*ii
Sept.-Oct. .
Ort.-NoV,, .
Any.-Dec.. ..
Dec.-Jail. .
Jnn.-Feb. . .
Feb.-March. .
March-April.
..6.16-6.17 6.14
...5.09-6.11 6.08 5.06
..5.03-5.06 6.02 4.99
,6.00-5.03 4.99-6.00 4.96
,.6.00-5.02 4.99-6.00 4.96
.6.01 . 6.00-5.01 4.97
. .5.04-5.06 5.03 4.99
. .5.04-6.06 6.04
..6.06-5.08 6.06-5.06 5.02-5.03
, .6.08-6.09 6.07 6.03-6.04
TODAY’S PORT RECEIPTS.
The following table uhows receipts at the
rrivate Wire to Ware Jb» Leland.
New York, Aug. 23.—The market opened
steady 4 up. At 12:15 p. in., 6@7 up, nnd
very steady. Sales 7,000 spots, 3 up r
Futures due to coino about 4 up.
Cotton opened disappointingly.
Weld brokers heaty buyers.
Commission houses sold.
Weather map looks good again this morn
ing. Trace or too much rain in Georgia
Joes not seem to be enough buy
ing power to sustain the market. May
worked up a little more and forced short
covering by weak shorts. Can see nothing
to buy cotton on, however.
Hchlll hammering the cotton market nnd
selling plenty of cotton.
New Orleans, Aug. 22.—Liverpool was due
W up ou both markets, therefore, up to
now the English future market was very
favorable. Even more favorable, however
was the better spot demand.
By Private Leased Wire.
New York, Aug. 22.—It was difficult dur
ing the first two hours of today's trading
to distinguish any tendency at nil In tho
price movement. For the entire morning,
tho tide of speculation moved restlessly
to nnd fro. At 'Intervals, creditable
strength was shown; at other times It ap
peared that realising sales were sufficient
to fill every bid of speculators anxious to
renew the rise. Generally, the trndlug by
comparison with the prertous days was
more subdued, nnd the range of prices
was much narrower. The feature of the
morning was Great Northern preferred,
which was Idd up violently 10 |K>Iut«i
from Its opening figures. Northern Pa
cific rose briskly In sympathy, ami tho
louisviiic ana Ansuvuie..;.,..
Mexican Central
Missouri Pacific
New York, Ontario nnd Westeri.
National Lend
Northern Pacific
New York Central
Norfolk and Western
Pennsylvania
People's Uus
Pressed Hteel Car
do, preferred
IfS
2 ft
8044
61 60%
sli*
m a»
NOTES ON GRAIN
Pointers on Provisions.
150
Private Wire to Ware A Lelaud.
Chicago, Aug. 22.—Wheat opened firm on
the advance lu the Northwest, which, some
think, whs due to n little run on the part
of shorts lu September up tiff*re. Armour
sold December here.
The tone of the wheat market Is distinctly
changed from the past two days. Hales
only he made nt concessions.
The undertone of wheat has gradually
gained strength the past few days, and ns
prices hold steady with uo selling pressure
on the market, some further rally seems in
order. »
The pit crowd who on Monday were sell
ing Heptemlier wheat short nt 70c are wow
goiug long of December nrouud 76c. Don't
see the logic of It.
Outs opened shade higher on buying by
the pit crowd. Bartlett, Frasier A Co. are
now fair sellers of May. Updike now sell
ing May.
Inter-Ocean: Yauduseii-IInrrington, of
Mluitennoils, says: “It Is too early to esti
mate the shrinkage of late crop in the
Northwest, caused by heat. Reports Mon
day of dsiunge of 19,000,000 bushels on ac
count of hot weather seem to lie very ex
treme from later reports. There was un
doubtedly some shrinkage. Weather north
IS EXCESSIVE
IN THE NORTHWEST
Influence for a Firmer Open
ing in the Wheat
Market.
CABLES WERE HIGHER
215 219 u 21.114 21314 213
143- 143r, 14111
•a
141%
As to Nebraska corn. Fremont wires:
"Samples of growing corn coming to the of
fice yesterday nnd today show they nro best
The Canadian Crop Report
ed Damaged Was Also a
Bullish Help.
... .... had nt this time. ..........
between milk and dough, ears are filled to
tip nnd very heavy. With continuation of
64% 54*4 5344 6444
association which these -stocks
present hnve In speculative calculations,
with the movement In steel shnres.
LfiMq
declines. Elsewhere, net changes ou the
morning were generally small.
The whole attitude of the speculative
of profouud uncer-
Rending
Republic Steel
Rock Island
do, preferred
United States Rubber
do, preferred
Southern I'aclfic <■
Southern Railway
do. preferred
Sloss-Hlieffleld
Tennessee Coni and Iron
Texas nnd I'aclfic
Union I’aclfic
United States Steel
do, .preferred
Ylrglnln-Cnrollnn Chemical ....
do, preferred
Western Unlou
Walmsh
do, preferred
Wisconsin Central
do, preferred
Total stock sales todny l.663.966 shares?
Private Wire fo Glberf & Clay.
Chicago, Aug. 22.—Wheat cabled are firm.
Good export demand reported from ths
By Private Leased Wire.
Chlago, Aug. 22.—There was a flrmeff
opening In wheat today Influence/
chiefly by reports of excessive rains
In the northwest and a forecast for
more today. Cables were 3-Sd hlorher
on reported damage to the Canadian
crop and a firm Winnipeg market.
CHICAGO GRAIN MARKET.
10,) 100 100
sss
7D',4 79 79
343*
'lift
jg
higher prices.
Better demand for oats.
We think wheat an excellent purchase.
The Chicago Record-Herald says: “It Is
learned on the beat of authority that a j»rl*
vate snle was made Monday of nearly 6,(KK),-
for today
'2044 *20% '20%
46<? 47 4644
vate snle was made Mommy of nearly 6,000, •
(4)0 bushels Hept-mher wheat to two leadtug
elevator coneerns. which gave the Decembr
In return at a premium of 44c per bushel for
the latter. Small holdings of September
hnve been pretty well liquidated during the
continued decline of 15c per bushel. The nc-
Dial grain Is now In strong hands. Hales
ered Its loss. Declines as a rule
ernged 4» to 44. # Amalgamated.Copper opi
corn and 170,000 oats.
“SenlKMird sales 104,000 wheat, 26.000
and 75.000 oats. One firm yesterday bought
40,000 bushels corn, the largest purchase lu
Bept 7114
Dec 74%
3*
70%
734,
79
774,
E?.:r Sg
“Sc™- 3 *
Bept 80
Dec 3144
ft
48
43%
3*
44*!
30
301?
May..
thirty days.”
The stock market's principal topic of u._
mission Is of the Great Northern ore deal.
Houses that hnve l>een heavy buyers of
Hill and Hnrriinan stocks, ana also of the
Hteel shares say that nn announcement In
gnrd to the ore contract Is very clo
RANGE OF THE COTTON MARKET
AT NEW YORK.
AT NEW ORLEANS.
hand nnd may be made today.
I^tndon today sold 60,000 to 70,000 shares
nnd commission houses were heavy sellers
of the list. The supply nud pressure from
these sources caused early declines rnngln
from small fractions to u point, but afte
LONDON 8T0CK MARKET.
The weather map shows very little rain
Temperatures are
THE WEATHER.
LOCAL FORECAST.
For Atlanta and Vicinity—Continued warm
weather with scattered thunder showers to
night nnd Thursday.
WEATHER CONDITIONS.
The decrease In air pressure hns been gt
era! during, the past it hours. «yilte decided
the Mississippi vnlley and the Month.
Today the center of highest barometer Is
In 'Montana, where the pressure Is only 33.00
somewhat cooler.
In the last 24 hours showers hnve occurred
In portions of Georgia, along the Atlantic
Anaconda..
Atchison...
Cnnndlnn I’aclfic
Chic., MU. nnd Ht. Paul
rsmr.
Illinois Central
IjoiiIsvIIIo nnd Nashvjlle..
Southern Pacific.,
Union I’aclfic
United States Hteel.. .
do, preferred.. ..
8TOCK8 AND BOND8.
1910..
Hnvnnnnh 6s. 1909
Macons 6s, 1910
Atlanta, 5s, 1911
coast from Florida to Maine, along the
northern liorder of the United States and
nt n number of stations In the Rookies.
The sluggish eastward drift of the ajmos-
INTERIOR MOVEMENT.
Tho following faille .bow. receipt, nt tb.
Inferior town, today, compared with tb,
time dny last year:
Houston. .
Augusta. .
Memphis.
L. J. ANDER80N a CO.’S
DAILY COTTON LETTER
W York. Alla. 22.—lArerpool again
emUnvored to raise the price of iiitton
this morning by opeulng steady at nu ad
vance „f 7 point*, which ant
throughout tho ln»lt, but otherwise the new
the day wns featureless. Complaints
yf weevil anil shedding are also reported
sections, but the bulk of the
ntlnnes to believe thnt unless some
overtakes the cron that the prom-
I** for a large yield. We believe, how-
!* T, ‘ r ; that even n large yield Is discounted
- n n ,| nH h ranbl change may
during the next month, we continue
ifve It dangerous to sell short at this
"ofton nt *ftc to tho farmers ‘
•dug to flood the market unless a cer-
r "f 14,000,000 bales Is shown, nnd
now thnt Is a decided uncertainty.
the DRY GOOOSt MARKET.
■ the feature if the day's busl-
h.;,* . . n torib* volume of gooil* was
JzjHjl^Print cloths were firm, nnd some
delivery within thirty days were
Hen ports, ami an ..
In . J nh American, east coast trade Is
phere Is favorable for continued warm
weather In this section, with scattered
thunder showers toufght nnd Thursday.
J. B. MARBUKY.
Section Director.
WEATHER IN COTTON BELT.
Texas—Tyler dear and warm; Dallas
Aiiauin, up, ipji.... .. ••
Atlanta, 444*. 1922
Atlanta 4s. 1931.. ......
Atlanta nnd West Point
Atlanta nnd West Point Debts..107
Central Railway of Georgia 1st
Income
do, 2d Income
do. .id Income .. .. ...
Georgia
Augusta nnd Savannah.
Southwestern
Georgia Pacific 1st*..
i r i
9.39 9.41 9.82 9.35
8.76-80
8.87-89
9.06-06
£ «
2$
COTTON HIGHER
ON PROFIT TAKING
New York, Aug. 22.—The Sun says: “The
tendency to rally wns still uotlcenblo and
at the close prices were slightly higher for
the dny. Hentliuent among tunny lu the
trade, lucludlug some of the more pt
Incut Interests, Is still bearish, but
the time belUg, nt auy rate, there wns
more disposition to secure profits than
there was to engage extensively In
rank-
Sept
Jan.... 13.60
LARD-
Hept... 8.66
Oct.... 8 ,r
JnjD...
8244
8.60
8.65
7.8244
HG.'v
7.82%
Oct.... 8.70
m
Ian.... 7.22Vi 7.2S
t'ASIt WITRAT-
8.95
8.99
7.2)
No. S r.'.l 73li«7381: No. 3 rail 71«fi72';:
No. 2 hard wllifar M'iliTJ; No. 3 ,l„ 701*
®79H.
PRIMARY MOVEMENT.
Aug. . ,
Nent. , .
Oct. . .
Nov. . .
Dec. . .
Jan. . .
Feb. . .
March. ,
9.08 9.10 9.10-11
9.12-13 9.12-18
9.12-13
9.18-19
9.21-23
9.28-29 •
selling for Southern account through
rlnus wire houses and commission houses.
Then, too, tin* receipts of new cotton wore
heavy, Houston getting 8.989 now bales,
The following figures give tho primary
movement of wheat nnd corn:
Wheat—Receipts today 628,000 bushels.
today 218,000 bushels, against 316,OOu 1m
Closed barely steady.
favorable, thongli showers were reported nt
many points In Texas nnd a further precipi
tation occurred In North Carolina, where
the government says heavy rains of late
els last venr.
Corn—Receipts
against 713.000 bushels last year; shlpr
today 400,003 bushels, against 460,000 bushels
TIPS FLASHED
From Wall 8tret
WARE & LELAND’S
DAILY COTTON LETTER
LIVERPOOL GRAIN MARKET.
Indicate a large yield, and this accounts
Private Wire to GIbert * Clay.
New York. Aug. 22.—Marshall, Spader &
Co.: “While money rates may be the su
preme dominating Influence today, and re
ports concerning the possibility of gold Im
ports - will Ik* eagerly looked for, the news
Items will also Include gossip concerning
New York, An*. 22,-Tho Irrofulur char-
acter of the cotton market is not difficult
«« explain lu view of the cxtenslvo de
cline thnt hns recently taken place In the
for the liearish sentiment prevalent al
ums* everywhere. Yet the recent sharp de
cline Is believed by many to have dls-
..10244
..106
..106
..107
..106
the ore deal and reports thnt Union Pa
cific holdings of investment securities may
pass Into the hands of n syndicate on val
uation* exceeding 8100,000,OOu. The question
of gold Imports becomes Imjiortnnt In view
of the narrow margin of surplus respective
ly held by the banks, and the kind of ra>
Uef to * —'
be effective should assume very
oml A. 1st*..
COTTON REGION BULLETIN.
For the 24 hours ending at 8^. m., 75tb
meridian lima, August 22.J9O0.
STATIONS OF
ATLANTA
DISTRICT.
clear.
and pleasant.
mined last night. Han Antonio cloudy and
Texas Rainfall—Dallas. 36; Blanco trace;
Greenville .42; Kerrvllle .66; Laumnsn* .76;
Longview .42; Lnllng .42; Mexlo .02; Nacog
doches .16; Paris .04; Han Marcos .26; Hher*
man .18: Taylor .68; Temple .08; Waco .20;
Waxnhntchle .9); Weatherford .36; Wharton
.01; Huntsville, Galveston and Han An
tonio, trace.
Mississippi-Ynxoo City partly cloudy nnd
hot. Notches clear nnd warm; tempera-
litre 85. Jackson clear nnd pleasant. Aber
deen, New Allainy and Tnpelo clear nnd
h Alnbama-tWms. Montgomery, Opelika
and Mobile clear and hot. Huntsville clear
and warm.
WEATHER IN WHEAT BELT.
Kxtreme Northwest-Portly cloudy; 36 to
84 nl»ove: general rains.
Northwest—Cloudy; 54 to 68 above; gen
eral rain*. . _ .
West nnd Southwest—Pnrtlr cloudy; 66 to
76 above; general rains In Illinois; local In
M Oh!o UI Valley—Partly cloudy; 72 to 76 nlmve;
local rains.
WEATHER FORECA8T.
Georgia—Local
bur min v. light ... ----- - -
Virginia, North Carolina, South Carolina.
Ka.tam anil Wmiwi MorldJ-LooU ralna
H>lni>«lajr anil T1fir«<laj-: light to ftv«h
variable winds.
Alnloimn, lll««l„lppl, Lnlllalana nn,1
T-xan—Hanprally fair WpilNeKlay -anil
«aa. Now Mi-iloo. Artaona, Ton-
mwa. Krntnrkr oml HVjt \ Iraliila-Ixj-
cal raina Wclacialay an;l Tharxlar
Arkannaa-Hlioircra Wadocailay ami Than-
day, duller Tburailay.
Thnnnlay;
(jiillann-Hho»cr« _tonight
dmlcr In north portion. ____
Jllnncwtta—ithower, tonight: cooler la
Konlhcn.t portion: Thnrwlny portly clomly,
with ahowert In coat p«tt"n.
Iowa—Khowcra amt cooler tonight; Ihurs-
ahowera: cooler ta Mat tnirthm
lows—Shower* nn<
iiy showers: cooler m **•**» ,
MfiusMirl—Showers tonight or Thurs*Iay;
"Kanma h an7 U |£iiith Iinkota-Hhowcra and
GIBERT & CLAY
'* *• *LA RAM* * T .
STOCKS. BONOS.
COTTON, CRAIN.
CO FFCC. PROVISIONS
ATLANTA. OA.
, Private Wlrea toall Exchange.
“Ml and Lt.nu DliUne. Tcl.phon. 5298.
Wi n. FAGAN, M.iwomy
.Atlanta, , -
•Chattanooga, clear.
Columbus, clear
Gainesville, clear. . . . .
Greenville, dear
Griffin, clear.
•Macon, dear
Montlcdlo, clear
Ncwmin. clear
Borne, dear
Spartanburg, clear
Tallnpoosn, clear
Toccoa, clear
West Point, clear
•Minimum temperatures
hour period ending nt 8 a.
Max. Mia.
“52 TT
III
Pi
HEAVY RAINFALLS.
Macon, Gn..
lllsekTllle. S. C
Amerlcus, Ga..
Milieu, Gn
Oultmaii, Ga
Tallahassee, Fla ..
Kt. George. S. C
Florence, ». C
Weldon. N. C.. ..
CENTRAL
STATION.
In
ill
TT
New Orleans.
Oklahoma. .
Savannah. . .
Vicksburg. .
Wilmington
T Indicates looppwclsbla rmli^all.
Dial. Average*.
|1|
3-2
would logically appear. We expect tu aeo
the nietnTs anil steel stucka supported; also
the coalers."
Daniel Odell Sc Co.: “Market may dis
play further weakness today, but think
itinuvr wratsiirnij unui;. mu nuns
R ihmI stiM'ks like Atchison. Southern Pacific,
t. Paul and Norfolk, will then be'good
I Mirchnsca. There was goo<I buying In fneso
■sues yesterday."
Think Pennsylvania and Union Pacific
will ndvaticc.
The New York Financial Rureau says:
“Discriminating purchases, especially on
weak ties* today, will, we hnve reason* fo*
believing, give good returns later, although
l»earlsh operation* tuay lie expected In con-
stMiuencc of the natural recessions of yes
terday, which Is no more than commen
surate with the advance nnd will Induce a
re-extension of shortage and strengthening
of technique much to l»e desired, now that
the public hns taken a good weight of
stocks. Thnt there has Iwen distribution of
stocks la pluln to us, but thnt the bulk yet
remains lu Inside hands ls also manifest.
Until the market Interests shall have suc
ceeded In dls|>oslng of their holdings the
trend will continue upward under existing
conditions, ns we calculate them. We un
derstand developments are pending, to be
announced from time to time, that will
furnish plenty of bullish enthusiasm. Uo
export to see hanking support ngnlust too
sggresslve raiding today, and If good stocks
hnve already l»een bought oil the recession
we believe they should be averaged confi
dently on further declines, which art. likely
found that a recovery will l>e ,
rial ties, and these may lie found among
low-priced Issues which take less money to
more and are susceptible to a wide public
Interest because of the greater safety. As
stntcd Tuesday morning, the general Hat
should mark time and be irregular tempo
rarily, during which |**riod a abort Interest
will Im» built up In anticipation of Improve-
ment later on. A conservative bull position
will, we firmly believe, give good result*.’
Private Wire to Wore A Lelnnd
New York, Aug. 22.—London 4491 point
down.
REMARK8.
t-,i ... .....w* the western and southe
triets. Rains occurred in *11 except the Mo
bile district. The nmounts were heavy at
(mint* In Georgia, North and South Carolina
THE 8PGAR MARKET.
By Private !.ens«*d Wire.
New York. Aug. 22.—Sugar, refined and
raw. unchanged. London licet market
steady; August 9s 2*d; Heptemlier 9s 34.
North Dakota—Ahowera tonight; cooler In
east nud south portion; Tbnrsilay fair and
kllghrly warmer.
Montano-Partly cloudy tonight; shower*
In cost portion; Thursday fair and slight
ly warmer.
With call money likely to stiffen farther,
reactions can lie looked for, although the
market will lie extremely Irregular.
There
.. „ renewal of talk relating to
United Stnte* Hteel tnklng over Fuel, hut
do not attach any Importance to It,
On sharp declines, lielleve the good
stocks can be bongbt. and^would favor
Rteel. Amalgamated Copper, Norfolk, *_]»**■;
apeage and Ohio, Erie and the low-priced
[Ill lllll imura. . . .. .
It I, rvnortKl from ro*» qiurtrra th»t
n..pul,ll,- Ht r l _l. . : .- , ; U ; _ tprn
Iii prices nnd the exreptloiinlly favorable
tenor of by far the greater percentage of
erop accounts nt hand from the Houtn.
Deiirntlons are on a more restricted scale,
ring to the uncertainty nud the feeling
of 304740 points on ....
condition. Beyond this, there seems to In*
no radical change Iii the posfflou, and sen-
not sold at 9c in some time, nnd the world a
dry goods trade la In a profitable condition,
.the buying by spinners and the trade gen-
erally at present price* la not surprising.
port hns operated In favor of steadiness
nnd many larger traders nre now willing
to Imth buy nnd sell nt the current level.
The market seems to ho In a reactionary
mood, but on any advance, the Month fa
likely to l>eglii selling again, and, of course,
Inducements for the trade to buy now uo-
tlcenble would he absent on a rise,
looks ns though wo would have a good
trading market for some time to come.
counted for the tltuo, at least, the favor
able crop prospects, and there was con
siderable buying for the long *
trday ny — —‘ "
... | Igher.
Corn—Opened unchanged; nt 1:30 p. m.
44c higher, nnd closed 44tfi84c higher.
since yesterday by prominent com mission
houses for Wall street and outside ac
count. Boom traders also bought for a
turn, and prominent ai>ot Interests were
good buyers."—GIbert & Clay.
NORTHWEST CARS*
each
_ a refill
studenta of the staple arc unable to mold
„ bearish argument ont of the nbsenco
of concrete crop mention In the govern
ment's cotton region hulletlu As a mat
ter of fact, there would uow soem to be
sgine rensoti for Mie hellM that tlie
crop and the tenor of the governuicnt'i
yesterday's close. Hpot safes ninounted to
•,000 bales, with quotations 3 points high
•r. In the past few days, the mnrkel
hns developed Into n comparatively narrow
affair, sorely lu need of the hrondenlug
Infiucmv of n more geuernl outside Inter
est. Under existing circumstances, the
more professional elements are not In
clined to aid the market either one way
or the other, the Mlef prevailing thnt
n sharp advance would not he In keeping
with the fnvornbleneas of erop news,
while, on the other hand, the recent de
cline bus been so thorough that consid
erable difficulty would. In all probability,
be experienced should nn attempt lw» made
to force values lower. Under the sur
face, however,, there lies important fac
tor* directly and Indirectly tiearlpg upon
the cotton market, and which, at their
proper time, will undoubtedly exert their
priqxirtlou of Influence. First, the free
movement of early cotton, which seems to
porteml sufficient supplies nnd the early
undoing of hedges against spot commit
ments. Secondly, the recent questionable
Inflation of rallies In the stock market
may nt the time of Ita realisation. Increase
bearish sentiment, and tn opposition the
fear that an over-burdensome short In
tereat may result in causing a further re-
■ ' low levels recently observed,
SOUTHERN EXCHANGE
Oldut E,tabll,hed Office South.
COTTON—STOCKS—BONDS—GRAIN
Ground Floor Gould Building. Dally
market letter nnd market manual
mailed on app!l'’Hilon.
upward of 10 point,. The OatM faction la
Iindentnod to be kamlllnir the movement
‘ *■<
from the head of thl»
GIBERT & CLAY 8
\ DAILY COTTON LETTER.
M -... — o« «f
a lea, favorable character concerning the
cron, which eentlincnt optlone earlier fully
reflected, but taler l«»t when Ike lar«
•hurt Intrrret became more thoroughly II-
L J. ANDERSON & CO
Bankers and Brokers,
GOnON, STOCKS, GRAIN
Correspondent's Capital $250,000
RCPCRCNCC, THE NEAL BANK
PHONE «4IT. PRUDENTIAL BLOG
Heir Orient.
WAR E A LELAND
COTTON, GRAIN, PROVISIONS, STOCKS, BONDS,
Ms. 2 Well Sfe, Feteri Building, 6lasts, Oi.
VLHBttS:
CA/fifS Board sf Trait.
tetlFUse I3C.
weekly weather report* have lacked hnr-
mony of detail, and thnt deterioration
has been more pronounced In some sections
than generally suspected. However, pend
ing the growth or the new movement, n
steady If not a reactionary market Is quite
* dly, the spot market has not
he basis of new crop rallies
crop cotton has not liegun
to move In* the New Orleans territory.
Thin, of course, accounts for some of the
discrepancy In spot and option valnea.”—
Ware Sc Iceland.
COTTON SEED OIL MARKET.
New York. Aug. 22.—The tnnrkct for cot
ton seed oil was moderately active nnd
steadier. There waa some little rotunda-
eloii house buying, and the pressure* In
Hepteuiher was 4 * # — — *~
CHICAGO CAR LOTS.
Today. Tomorrow.
THE COFFEE MARKET.
New York, Aug. 22.—The opening of fha
coffee market made rather a poor showing,
considering the favorable cable*, which «lld
not fully mpond to tho New York de
cline of yesterday. This stability of the
European market appear* singular. Inas
much a* a large share of the re
lug here Is supposed to hare h
European account, nnd a* the to*
ket la not above n parity.
Iielng the i-ase,—GIbert & Cta
recent sell-
market for today wnn ns follow*:
Opening
have been pretty well evened up. although
some Interests are clntniliig that there Is
still quite n liberal o|»cn account In Hep-
exns and liberal qatlmntea of the cotton
rop continue to he the principal Influeiico
against values. The market at the close
wns firm, with price* 4if*%c up from the
— — * Lelaud.
Opentni
opening;—Ware
September. , , ,
October. . , , .
November. , , ,
Dcoemlier. . . ,
January
Closed steady.
March.. .
April..
May......'
June..... ,
July.,.,...
August..
Heptemlier.
October
Noremlier.. »
December.. ....
Closed steady.
Rails
.. , .7.63-7.H
: v
7.35-7.45
„ ....7.45 7.60
. ,.6.70-6.90
8.80
.. . ..6.85 6 9.)
6.90 6.95
7.00-7.0G
6.76 6.75
6.804.M
6.894.95
Home demand for Canadian I’aclfic in the
loan crowd, but other stocks plentiful.
Germany placing orders for Smelting Iron
. .. |n gn-inj--*
anil Ton I
Nil.
gold
next Monday, when H.600.00 lu.
lie offcrfHl tu the oppn market.
State bank Incrense* Its capital from 8100,.
000 to 81.000,000.
iAkr competition causes reduction In ex
port grain rates.
Twelve Industrials decreased .36 per cent.
Twenty active railroad* declined 1.38 per
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.
WM. L. PEEL, President.
ROBT. F. MADDOX. Vlrw-Praa.
TIJ08. J. PEEPLES. Cashier.
JA8. O. LESTER, Ass't Cashier.
MADD0X-RUCKER BANKING CO.
CAPITAL
SURPLUS AND PROFITS
ACCOUNTS INVITED
$200,000.00
$500,000.00
We invite accounts of individuals, corporations, banks
and bankers and offer the best terms consistent with
conservative banking.
In our Saving, Dopartmtnt wo allow Interest at the Rat, of 3 1*3 per
cent. Compounded Semi-Annually.