Below is the OCR text representation for this newspapers page.

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.