Newspaper Page Text
THE ATLANTA GEORGIAN.
EDITED BY ( __ ~ , K. Ur. t
JOSEPH B lively^ THE GEORGIAN’S RECORD OF MARKETS AND FINANCE )■£■
[Jvc!y*a 25 years* experlcnrs
editing markets In Atlanta and
South has made him a rec-
ogulzed authority to 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.
NEWS AND GOSSIP
Of the Fleecy Staple.
By Private loosed Wire. ^
New York, Aug. --’.—The cotton .market
bad a poor opening In view of the cable*.
First prices were 6 points higher. IJro-
fessioiial trading predominated early In the
•ession. nml It looked us though strong ef
forts would be made to force n number of
Mg accounts with weak margins to liqui
date. and room traders again started the
lumuiueut.
The opening for cotton for future deliv
ers in Now York was disappointing lu that,
wlille an advance was noted. It was hot a
full reftfiouse to the better advice* from
Liverpool, both spot and futures lu that
center being slightly better than due.
As on yesterday, however, better prices
followed the opening, the high point of the
nr.'viniiK day lielug missed, from which level
market turned downward, taking of
The New York Herald, In Its review
cf the cotton market last Saturday, says:
•■Some Interests profess to have confi
dence In a yield of, at least, 13,000,000 hales,
while more couservatlrc estimators regard
].'.000,000 (mil's ns the maximum figure,
and under the elrctimsfances It would
swiii that a miraculously lino condition
mast prevail from now on to give up a
crop a million bales larger than the Inst
•me. In order to raise 13,000,000 Hales from
this season’s acreage. It means that every
were must lie nicked and every acre produce
;») pounds, flow much likelihood there is
fur anything of the kftid rnn he deter*
mined bv comparing this season with that
of two years ago, when the average yield
was 223 pounds to the acre, and the cron
Mialltlon throughout decidedly better. 1
spot con on "market.
Atlanta, quiet nt 97-Hc.
Now York, quiet at 10.10c.
Liverpool, quiet nt 6.44d.
Augusta, quiet at 9%c.
Savannah, steady nt 9 3-16c.
St. (mills, quiet nt 10c. '
Itnstnu, quiet nt 10.10c.
Houston, steady nt 9%c.
Baltimore, nominal at 10c.
Galvcstou, quiet nt 9%c.
Memphis quiet nt 9%c.
Norfolk, steady nt »%c.
LIVERPOOL COTTON MARKET.
^peculation and export 600;
n ipts 100, nil American.
Futures opened Steady.
Opening 1’rerlous
llange. Close. Close.
August 5.15-5.17 6.14 5.11
A'igu*t-8ept 6.09-6.11 6.08 5.06
j.pt.Oct, 6.00-6.06 6.02 4.99
n- t.-Nov*. . . .6.00-5.0* 4.99*5.00 4.96
.Miv.-lJec 6.00-6.02 4.99-6.00 4.96
Hv.-Jan 6.01 6.00-5.01 4.97
Jnu.-Fcb 5.04-6.06 5.02 4.99
i .b .March 5.01-5.06 6.04 5.01
Mitrch-Aprll 8.06-5.0S 6.06-5.06 5.02-6.03
A irll May. . . . .5.08-5.00 5.07 5.03-6.(H
t'toned quiet.
TODAY'S PORT RECEIPT8.
The following tabls shows receipts at th*
ports today, compared with tbs same day
last year:
Private Wire to filbert ft Clay.
.Aug. 22.—Liverpool opened
up. Exported 4®5 up.
Liverpool rabies: "Market has good un
dertone; nothing offering, with improved de-
maud from spluners."
Carpenter. Maggot A: Co. say: “The fact
m, .y. “P* overlooked that this short
selling has been going on since Decent tier
was selling at lie. so that, with all other
thing* equal, the shorts have the advantage,
and then* must lie some decided change
Iwforc a bull campaign can I* conducted
ivlth success, nml we favor operating from
the short side.”
Hick Ilros. ft Co. say: "Under the cir
cumstances ami. on technical speculative
ground* alone we can see how this market
could Jump over a half refit a pound
quite readily lief ore the end of the week,
no matter what the expectation may he
regarding the next bureau of the census
report.
Mitchell offered 500 January at 10.28; Weld
took them. Weld brokers good buyers on
opening.
New Orleans. Aug. 21-Llverpool * high
er is a shade better than expdeted. nn ad
vance of 5 points being due, and Indicates
a readiness to respond to any further mod*
crate gains recorded In cIs-Atiuntlc umr*
kefs.
Liverpool cables: "Market has advanced
In consequence of less favorable crop ac
counts, reported serious damage by rains,
and worms In Texas.
Another cable says: "We thlnk-thnt our
market will advance, and purchases can he
made cheaper now than for some time to
come."
Waco, Tex., wires: "Crop continues to
Improve; rains will delay uioremeut some,
hut doing no damage."
Market Is quiet nut steady, the slight
Improvement In opening prices seemluglv
well maintained on scattered buying for a
turn.
Map shows widely scattered rains over
belt, with cloudy weather Jti the western
portion, and altefnnte clear and cloudy In
eastern.
Liverpool better than expected, and nu
merous bullish cables moy cause n higher
market at opening, although crop uews
shows no falling off from the excellent
tenor previously maintained.
A dispatch from Branham, Wnshlnj
county. Texas, says: "8howers have imi
en ngnln here today, nml In some localities
weevil* are reported as doing considerable
damage. Some farmers say that the crop
Is made now, but that conditions are not
fnvdhible for the maturing of young bolls
now In the plant, which, with favorable
weather, would Increase the yield consld
ernbly." _
Waco. Tex., wires: "Itnlns delayed open
Ing, picking and marketing, hut no serlom.
damage, although worms and weevils are
doing some damage. Crop In Texas Is a big
“UP.
Greenville, S. C., wires: "Crop Green
wood to Greenville spotted, but generally
good. Weather continues Ideal, and crops
Improving dally. Carolina ten days late.
Private Wire to Ware ft Leland.
New York, Aug. 22.—The market opened
ateady 4 up. At 12:15 p. in., 9Q7 tip, and
very steady. Sales 7,000 spots, 3 up nt 6.44d,
Futures due to come about 4 uj
„ . At 12:15 p. in., .
very steady. Sales 7.000 spots, 3 up i
"ntnres due to come about 4 up.
Cotton opened dlsappointinffy.
Weld brokers heavy buyers.
Commission houses sold.
Ing.
too much rain In Georgia
_nly cri ...
There does not ibera 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.
Schtll hninmerlng the cotton market and
selling plenty of cotton.
New Orleans, Aug. 22.—LIverpooLwas due
4425 un on Iwith markets, therefore, up to
English future market was very
The weather map shows very little rain
over the cotton belt. Temperatures arc
moderately high.
THE WEATHER,
LQCAL FORECAST.
For Atlanta and Vicinity—Continued warm
weather with scattered thunder showers to
night nnd Thursday.
WEATHER CONDITIONS.
CHANGES SMALL
: AT THE_OPENING
Commission Houses and
London Were Heavy
Sellers Eai’Iy.
CAUSED THE DECLINE
RANGE OF NEW YORK STOCK MARKET
rican Sugar Refining
Atlantic Coast Line :
Anaconda
American Locomotive
do, preferred
American Smelting Rellulng
do, preferred
American Cotton OIL.
Canadian Pa el tic..,
Chicago nnd Northwestern
Chesapeake and Ohio...'.
Colorado Fuel aud lrou
After First Few Minutes
Quiet Buying Stead
ied Prices'.
By Private Leased Wire.
Ne\y York. Aug. 22.—U wss difficult dur-
ing the first two hour* of today's trading
to distinguish any tendency nt nil lu the
price movement. v For the entire morning^
the tide of speculation moved restlessly
nnd fro. At intervals, creditable
strength was shown; at other tlmea It ap
peared that realising sales were sufficient
to fill every bid of speculators anxious to
renew the rise. Generally, the trading by
roiu|Ntrisen with the previous days was
more sulKluod, and the range of prices
was much narrower. The feature of the
morning wns Urent Northern preferred,
which wns hid up violently 10 points
“ u — its opeulng figures. Northern Pn-
rose briskly lu sympathy, nnd the
association which these stocks at
present have In speculative calculations,
with the movement lu steel shares, caused
the latter to Ik* held very firmly on heavy
declines. Elsewhere, net changes on the
morning were generally small.
The whole attitude of. the speculative
community was one of profound uncer
tainty.
* •* e stock market opening changes for
•art showed irregular fractional
’nlon Pacific opened off but
General Klectrlc..
Illinois Central
American Ice Securities
Louisville mid Nashville
Mexican Central
Missouri Pacific
New York. Ontario and Westert
National Lead
Northern Pacific
New York Central
Norfolk nml Western
Pennsylruiiln
'People's Gas
Pressed 8teel Car
do. preferred
the most pi
changes, u ,
recovered Its loss. Declines ns ..
ernged % to %. Amalgamated Copper open
oil at a gain of *4 to 103%, then rose to 1<®%,
““ * principal topic of *
The stock lutrlcct's principal topic of dis
cussion Is of the Great Northern
Houses that have been heavy buyers of
Hill nnd Harrlmnn stocks, and also of the
Steel shares say that an announcement In
regard to the ore contract Is very close to
nnd commission houses wen* heavy sellers
of the list. The supply nnd pressure from
these source* caused early declines ranging
from small fractions to n point, but after
the first few minutes there was quiet but
persistent buying nil around the room. The
LONDON STOCK MARKET.
Illnols Central.
Louisville and Nashville.. .
Rending..
Pennsylvania
Southern Pacific
Union 1'nclflc
United States Steel
do, preferred
The following table shows receipts nt the
Interior towns today, compared with the
Mine day last year:
Houston. .
Augusta. .
Memphis. .
st Unis,
t'liielmmtl.
Total.
L- J- ANDERSON A CO.’S
DAILY COTTON LETTER
New York, Aup. 22.—Liverpool ngnln
endeavored to raise the price of cotton
’111“ morning by opening steady nt an ad-
van--,. „f f points, which advance was
tnalntalned up to the 2 p. in. call. But New
>nrk responded only feebly, and after nn
* : >ny advance, prices again began to sag
J'"-. Liverpool losing the biggest part of
II* sain. Heavy rains wert* reported
throughout the licit, but otherwise the news
"f the day was featureless. Complaints
y *>‘»>vll and shedding ar*» also reported
«r»m »«une sections, hot the bulk of the
inn>‘ mntinttes to believe that unless some
■wident overtakes the cron that the protn-
•** f<»r a large yield. We believe, how-
that even a large yield Is discounted
• T prices nnd ns a rnnld change may
jefiir .hiring the next mouth, we continue
Jo Mleve It dangerous to sell short nt this
‘T'' 1 Cotton at Stye to the farmers Is
-'iffig to flood the market unless a cer-
t-ilmr ,,f 14.000,000 bales Is shown, nnd
J'ct now that Is n decided uncertainty.
THE DRY GOODS MARKET.
slf** York, Ang. 22.— 1 The dry goods mar-
JT,firm with sn active trade going
"" »» the jobbing houses. A white goods
wss the feature of the day's bust-
iil.vr i an, J. J‘ torge volume of goods was
Hi?* . * Hut cloths were firm, and some
vlrv f,,: '^livery within thirty days were
iffV"'™***- Cotton yarns were steady on
r but weak on the coarse
iC' r * A moderate business was doing.
of 3.50-ynrd sheeting have
id for Red Sea 'portal nn '- — —
JtJi American east coast trade la
"••^.-Glliert ft CUy.
The decrease In nlr pressure has been gen-
rnl during the past 24 hours, tiulte decided
ever the Mississippi valley and the Month.
Today the renter of highest barometer Is
In Montana, where the pressuro Is only 30.00
Inches. Over the rest of the country the
pressure Is low, tint nnd sluggish.
The temperature has changed but little
except In the upper lake region, where It Is
somewhat cooler.
In the last 24 hours showers have occurred
In portions of Georgia, along the Atlantic
const from Florida to Mulue, nlong the
uorthern liorder of the United States and
t n 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
thunder showers tonight ^nd^Thursday,
* Section Director.
WEATHER IN COTTON BELT.
Texas—Tyler dear and warm. Dallas
partly cloudy nml warm, lloustou partly
cloudy nml pleasant. Fort Worth clou
rained last night. San Antonio cloudy i
warm.
Texai
Greenv..*. ... •.....> • —r, —- .•—,
Longview .42: Lullng .42; Mexlo .02; Nacog
doches .16: Paris .04; San Mnrcos .26; Shvr-
limn .15; Taylor .M: Temple .08; Waco .20;
Waxahatelite .90; Weatherford .36; Wharton
.01; lluntMville, Galveston and San
tonlo, trace.
Mississippi—Ynioo city partly cloudy and
hot. Notches clear and warm: tempera
ture 85. Jackson clear and pleasant. Aber
deen, New Albany nnd Tupelo clear nnd
h< Abibnmn—Selma. Montgomery, Opelika
ami Mobile dear nnd hot. Huntsville dear
nml warm.
WEATHER INJWHEAT BELT.
Kxtreme Northwest—Partly cloudy; 36 to
84 above; general rains.
Northwest—Cloudy; 54 to 69 nbore; gen-
Pr Wesf and Southwest—Partly cloudy; 66 to
76 above; general rains In Illinois; local In
^Ohio 1 Valley—Partly cloudjr; 72 to 79 above;
local rain*.
WEATHER FORECAST.
Georgia—Local rains Wednesday and
Thnnuutv. light to fresh variable winds.
Virginia. North Carolina. Month Carolina.
Kastern and Western Florida-Local ralna
Wednesday and Thursday; llglp Co fresh
variable winds. ... ...
Alabama. Mississippi, Louisiana and
Texas—Generally fair Mednesdny and
Thursday: light south winds.
West Texas. New Mexico, Arlxona, Ten-
nefloee. Kentucky and West Virginia-Lo
cal rains, Wednesday nml Thursday.
Arkansdo—Showers Wedmmlsy and Thura-
rir, oKilsr Thurmlny. '
Indiana—Showers tonight or Thursday;
cooler in north portion. . .
Minnesota—Shower* tonight; cooler In
southeast portion: Thursday |«rtly cloudy,
with showers III cgst portion.
Iowa—Showers nml cooler tonight; Thurs
day showers; cm*l< ~ “ **
STOCKS AND BONDS.
Savannah 5s. 1909.
Macons 6s, 1910
Atlanta, 5s. 1911
Atlanta. 4Vi*. 1922
Atlanta 4s, 1934.. ......
Atlanta and West Point
Atlanta and Went Point Debts..107
Central Railway of Georgia lat
Income
k Island
do, preferred
United States Rubber
do, preferred
Southern Pacific
Southern Railway ....,
do, preferred
Rloss-Shefflebl ,,
Tennessee Coal nml Iron
Texas and Pacific
Union 1’nclflc
United States Steei
do, preferred
Western Uulou
Wabash s».«
do, preferred.
Wisconsin Central
do, preferred
Total stock sains today 1.163.9U0 shares.
NOTES OX GRAIN
Pointer, on Provision,.
Private Wire to Ware ft Lclnml.
Chicago, Aug. 22:—Wheat opened .firm ou
the advance In the Northwest, which, some
think, was due to a little ran ou the part
of shorts In September up there. Armour
•old December here. ^
The tone of the wheat .market is distinctly
changed from the past nvn days. Sales can
only he made nt concessions.
The undertone of wheat ha* gradually
gnlued strength the (mat few days, and
-'pea hold steady w *'
the rnnrkct, some
order.
The pit crowd who on Monday were sell
ing September wheat short at 70e are now
going long of December around 75e. Don't
see the logic of It.
Oats Q]H>ued shade higher ou huylug by
the pit crowd. Rnrtlett, Frasier ft Co, nrr
now fulr sellers of May. Updike mm* sell
I nr May.
I filer-ocean; Vnudfiscu-Harrington, «l
MlmieaiMiUs, says: "It Is too enrjy to esti
mate tue/shrlukngi 1 of late crop III the
Northwest, roust'd by bent. Rejmrts Mon
day of (lainnge of lO.Ouu.OOO bushels on
count of hot weather seetu to be very
treme from Inter reports. There was
doubtedly some shrinkage. Weather north
uow Im good."
As to Nebraska corn, Fremont wires:
"Samples of growing corn coming to the of
fice yesterday ami today show they are best
we ever had at this time. Kernel:
between uillk aud dough, eara are fill _ ..
tip nud very heavy. With continuation of
warm weather aud no frost or rain for two
weeks the hulk of our corn crop Is made."
blither prices.
Ret ter demand for oats.
We thluk wheat an excellent purchase.
elevator concerns, which gave, the Decemhr
In return nt a premium of %c |»er bushel for
the latter. Small holdings of Meptetulier
have been pretty well liquidated during tho
rimtlnucd decllua of 16c per bushel. The ac
tual grain Is now In strong lutml*. Sales
of cash grain In Chicago 46,000 wheat, 129,009
corn and 170,000 oats.
".Seaboard sales 104.000 wheat. 29.000 corn
nnd 75.000 oats. One firm yesterday bought
49.000 bushels coru, the largest purchase lu
RANGE OF THE COTTON MARKET
AT NEW YORK.
The following la the nuige
ures In New York today:
Dec. , .
Jan. . .
Feb. . .
March. .
9.0506
9.11-13
9.16-16
8.80-M
8.91-92
9.0H-09
9.18*15
9.17
9.25-26
Closed barely steady.
AT NEW ORLEANS.
Dec
Jan
Feb
March. . . .
9.66-631 0.60-60
9.16* . 916-17
9.10-11 9.11-12
9.12 13 9.12-13
9.12-13 9.13-14
9.18-19 9.19-20
9.21-23 9.22-23
9.28-29 9.29-ffl
TIPS FLASHED
From Wall Street
Private Mire to Glhert ft Clay.
New York, Aug. 22.—Marshall, Spader ft
Co.: "While money rates inny lie the su
preme dominating Influence today, and re
ports concerning the possibility of gold Im
... --- looked for, fur
the
deal nud report* that Union Pa
cific holdings of Investment securities may
bass Into the hands of a syndicate on val*
do! 3d income.. .. .
Georgia....
Augusta nnd Savannah.
Month western..
Georgia Pacific lsts.. ..
C., C. and A. lsts.. .
..265
. .115
..116
..120
..112
COTTON REGION BULLETIN.
For the 24 hours ending at 8 a. m., 75th
meridian time. August 22. 1908.
STATIONS OT
ATLANTA
DISTRICT.
, - -ast porth
Missouri—Showers tonight
r, Ki'n«.i«'‘"na'l&uth IJnkol,—Wiower, nn'!
Thursday;
GIBERT & Ci-AY
" *- ALABAMA BT.
ATOCKB. BONDS.
COTTON. GRAIN,
COFFEE, PROVISION*
MEMBERS:
ATLANTA. OA.
: Sis SS 5SB»«8
i Prlv'ntr WlrM to nil EncMnrM.
***•! *nd Lena DiiUne. Tel.phon, 52M. W. n. FAGAN, Mnn,n,r.
clear.
. ooga, cl
Columbus, clear.
Gainesville, dear.
Greenville, dear. .
Griffin, dear. . .
•Macon, dear. . .
Moiitlcollo, dear. ,
Ncwnau, dear. . .
Rome. dear. . . .
Spartanburg, dear.
Tallnpoosn, clear.
Toe-eon. clear. . .
West Point, clear
” •Minimum temperatures are lor the 12-
hour period ending at 8 a. ra. this date.
HEAVY RAINFALLS.
Macon, tin..
BlnckvIHe, S. C
Americas, Un.. .. ••
Milieu, Go »
Qultmnn. Ga
Tallahassee, FI*..
Ht. George, 8. C.. .
Florence, 8. C.. ..
Weldon. N. C
Max. Min.
a.4
§11
S*1
..2.21
..2.84
CENTRAL
HT AT 10 S.
i
Atlanta
Angnsta. ....
Charleston. . . •
Galveston. . . .
Little Rock. . .
Memphis
Mobile
Montgomery. . .
New Orleans. .
Oklahoma. . . .
Savannah. . . .
Vicksburg. . . .
Wilmington ■
T Indicates Inappreciable ralafalL
REMARKS.
Slightly higher tern |k> rat ures were report
ed la most of the western and southern dis
tricts. Rains occurred In all except the Mo
bile district. The nimmnts t were heavy at
points In Georgia, North nnd South Carolina
Mat. Averages.
111
or
nations exceeding $100,000,000. The question
of gold Imitorta become* Imimrtant In view
of the narrow margin of surplus resmvtive-
ly held by the banks, nml the kind of re-
g to be effective should nssutnc very
rtant proportions. Meantime, the ouly
i you have fo these developments Is
jctlon of the market, which may have
to endure a further selling uioremeut this
morning lieforc the right slud of support
would* logically appear. We expect to aee
the metnls and steel stocks supimrtcd; also
the coalers."
Dnnld Odell ft Co.: "Market inuy dis
play further weakness today, hut think
good stocks like Atchison, Southern Pacific,
nt. Pnni nml Norfolk, will then lie good
purchases. There was good buying lu these
Issues yesterday."
Think Pennsylvania and Union Pacific
will advance.
The New York Financial Bureau anys:
"Discriminating purchases, especially ou
weakness today, will, wa hnve reasons for
believing, give good retnrns later, although
bearish operations may be expected lu con-
WARE & LELAND’S
DAILY COTTON LETTER
New lork, Aug. 22.—The Irregular char
acter of the cotton market Is not difficult
to explain In view of the exteuslvo da*
ellne that has recently taken place In the
effort of a large short Interest to cover
cotton without causing much of an advance
In prices and the exceptionally favorable
tenor of by far the greater |w»ro»*ntagt* of
crop accounts nt band from the Soutn.
Geprntlon* nre on n more restricted scale,
owing to the uncertainty nml the feeling
that the market may be In for a i
of afvwio points on no oversold tt
condition. Beyond this, there seems to he
no radical change In the position, and sen
timent continues l»earlsh. ns a result or
the progress of the cotton crop. It Is stll
early Jn the season, and ns cotton has
not sold at 9c In some time, nnd tho world's
dry goods trade 1* in a profitable condition,
ths buying by spinners nud tho trade gen
erally nt present prices Is not surprising.
In fnct. It Is the part of wisdom for
spinners needing n large quantity of
*oii the coming season to fay In a poi
of the stock nt present prices. This ......
port has operated In favor of steadiness
* many larger traders nre now
oth buy and sell at the curron . ...
The market seems to be In a reactionary
mood, hut on nny advance, the South fs
likely to lieglu selling ngnln, and, of course,
Inducement* for the trade to buy now no
theftblf would Ik* altseut of* a rise. II
looks ns though we would have a good
trading market for somo time to come.
X
.‘engthenlng
s desired, now that
a good weight of
has taken „ m ~, r - r ._ r .
storks. That there lias lieeii distribution of
stocks Is plain to u*„ hut that the hulk yet
reninins In Inside hands Is also manifest.
announced from .time to
furnish plenty of bullish
expect to see hanklag support ngnlust too
aggressive raiding today, and If good stocks
have already been Iwmgbt ou the recession
we Iwlleve they should bo averaged confi
dently on fnrtber declines, which ar* likely
to Ih* hut temporary. It will probably l>«
found that n recovery will be led by spe
cialties, and these may tie found among
low-priced Issues which take leas money to
move af»d are ausccptlble to a wide public
Intereat because of the greater safety.
* “ • fju ....
rarity? during which period a aSort Interest
frill be built Up In anticipation of Improve
ment later on. A conservative bull position
will, we firmly believe, give good reaults."
down.
renctloua'rnn be*looked for, although the
market will l»e extremely Irregular.
There Is a renewal of talk feinting to
United States Steel taking over Fuel, bat
do not attach any Importance to It.
On sharp declines, believe the good
Blocks rnn be I .ought, sndwonld favor
Steel. Amalgamated Copper. Norfolk, CM*
npenXe and Ohio, Erie and the low-priced
^Tnik la atlll bullish on Hnrriman Padflca
and IIIU issues. . ..
It Is reported from good quarters that
unwnril of 10 point*. Too tlntoo faettoa I,
— *—*—• la—iIHb* *he movement.
bond of tbla
THE SUGAR MARKET.
Bjr Prtvnto Wlro.
Now York. All*. 22.—Siaor, rollnod and
row, onoli«n«od. fomfon lioot marbof
■toodr; Aojti,t 9» 2VI; H.TI«ibor h »l.
GIBERT & CLAT 8
DAILY COTTON LETTER.
No* Orloana. Aui. a.-Karl/ l.!»,fpwd
entdoa wore dUtlnrtl) bulllfh oil new, of
a lea. faroralile ebnraoier raararnlnc «*»
or.')', which aontlinont optloaa earlier fulljr
reff™-led. hot Inter loat wbeu tb.i larao
short Interest Iterame wore thoroughly li
quidated, final prices tielng 3 points over
yesterday's clone. Spot sales amounted to
I..II.A will, -- - -
affair, aoraijr
Influence of n more geuerul outside Inter
est, Under existing circumstances, the
more professional elements are not
dined to aid tho market either one
or the other, the l»el!ef prevailing
a sharp advaueo would not lx» In keeping
with the favorableiiess of crop nows*,
while, oti the other hand, the recent de™
cllus bus l>een so thorough that consid
erable difficulty would. In qll probability,
be experienced should nn attempt lie mndr
to force values lower. Under the sur
face, however, there Re* Important fac
tor* directly and Indirectly lies 1
the cotton market, nnd which. ... _ _
proper time, will undoubtedly exert their
pro|Nirtlon of Influence. First, tho free
movement of enrly cotton, which seems to
portend sufficient supplies nnd the early
undoing of hedges agnlnat spot commit-
incuts. Secondly, the recent questionable
Inflation of vnlues In the stock market
may nt the time of Its realisation. Increase
lM>nrisU sentiment, and In opposition tbi
fear that nn over-hnrdensome short In
terest may result In canning a further re-
ttctloti from Io\v^lc^i1e^cc»MiGv^*bjcrvcd,
SOUTHERN EXCHANGE
Oldeit Eittnbllflhod Office South.
COTTOI—STOCK—SOROS—CRAIN
around Floor Onuld Building. Daily
market letter nnd market manual
mailed on appll-ailon.
L. J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, CHAIN
Correspondent's Capital $250,000
ncFcncNce, the neal dank
PHONE 1417. PRUDENTIAL BLOC
ht; Tharmlny partly cUnulr.
;ot«—8bower» tonight; cooler In
utb portion; Thursday fair nml
Ightly wanner.
Mont.nun—Partly clowly tonight; *h*»wern
In* east portion; Thursday fair and slight
ly warmer*
cooler tonight; Tharnday
N«ml» Dakota
cost and w»uth
-lightly warmer.
Ktn Oritaas.
WARE A LELAND
COTTON, GRAIN, PROVISIONS, STOCKS, BONDS,
H». 2 Wall St., Paten Bsllding. Atlanta. Ca.
Chicago Beard at Trada.
OflM„, CkU*,..
tell Pboae 1292.
i Coffer [ichaage.
78*. Maaaafi.
Standard PhaaalOL
COTTON HIGHER
ON PROFIT TAKING
w York, Aug. 22.—The Ann anys: "The
onoy to rally was still noticeable and
at the close prices were slightly higher for
the dny. Sentiment among tunny lu the
trade. Including some of the more prom
inent Interests, Is still bearish, but for
the time being, nt nuy rate, there wn»
wiling for Houthern account through ...
rlons wire house* and commission house*.
Then, too. the receipts of new rottou were
heavy, Houston gettiug 8.989 new bales.
hnve roused considerable damage. But. on
the whole, the crop report* continued to
indicate a large yield, and this accounts
for the bearish sentiment prevalent al
most everywhere. Yet the recent sharp de
cline Is believed by ninny to have dis
counted for the tliuo, at least, the favor
able crop prospect*, and there was con
siderable baying for the long account
alnce yesterday by prominent conimi**ion
house* for Wall afreet nud ontnlde nc*
good buyer*."—Glhert ft Clay.
ratie because of the conflict of nrufc*.
slonnl opinion nt the moment made the
talent think, hut that wa* about nil. Ere
long the movement of new cotton will Im*
largo enough to be eonoted among each
day’* InnuencM. Meanwhile, careful
student* of the staple nre unable to mold
a tH'arlih argument out of the absence
of concrete crop mention in the govern
ment's cotton region bulletin As n mat
ter of fact, there would now sue in to be
sgnn* reason for' tit* belief that the
crop and the tenor of the government's
weekly weather reports hnve lacked har
ing th _
fogfrai. ^Logically, the spot market I
ret gone on tho basis of new crop
Jw'cnuse new crop cotton has not begun
to move In the New Orleans territory.
This, of course, arcounta for some of the
it Ur,A I -
nt 71%
IC...„ 74%
HLw:;
Open.
WnKAV-
Hept..
Dec...
May.....
(OUN-
Sopt 4SU
Dec 44%
May 46%
OATH—
Hcpt
IHm*
May
l'ORK-
Hept
.Inn.... 1.1.10
LAUD—
Hept... 1.56.
High.
71%
71H
s;i
iilii"
m
HIDES—
Hept.. 8.97% 1.97%
Oct.... 8.70 8.72%
Jan.... 7.22% 7,25
CASH AVIiBAT-
8.99 *
8.96
7.82%
8.60
8.67%
7.82%
8.95
8.9)
7.D
©70%.
PRIMARY V10VEMENT.
movement of wheat
Whent—Receipt* todny 638.000 bushels,
ngnlust 621.000 bushel* last-year; shlnmcik*
today 218.000 bushels, ngnlust 816,000 Dtieii-
el» hint year. e
Corn—Uneelnta today 632,000 bushels,
against 713.000 bushels Inst year; *hlnnt<*nf«
today 400,000 bushels, sgalnst 450,000 fmshuls
Inst year.
COTTON 8EED OIL MARKET.
New York. Aug. 22.—The market for cot-
ton seed oil was moderately active nnd
steadier. There wa* some ll»tie commis
sion house buying, anil the pressure In
Heptemlwr was much less active. There Is
a general feeling that the nearby position*
tem1s»r. The recent tvenkiie** In futunts
has unsettled the market for crude. Re
P »rt* of favorable crop dcreloiimcfita In
rxn* nud liberal estimates of the cotton
crop roRtlnue to Im* the principal Influence
against values. The market at the close
was firm, with prices *,;##%« up from the
oj'CijlDg.-Wsre ft J/cloud.
Opcnli
August . 2t-v*s
Hcptemlier. 3l%6l
Oetoltcr. . ,
November. ,
December. .
January.
Closed* steady! Hairs 800
LIVERPOOL GRAIN MARKET.
Whent-T-Opened %Q%c higher: st 1:39 p.
u. %o higher; closed nt higher.
Corn—Opened unclinugiMl; nt 1:30 p. m.
%c higher, and cloned %<?%c higher.
NORTHWEST CARS.
CHICAGO CAR LOT8.
Today. Tomorrow.'
Phrnt « 10
»ru 76 ill
nts 131 r>4
logs.. 25003
THE COFFEE MARKET.
New York. Aug. 22.—The opening of ths
coffee market made rather a poor showing,
considering the favorable cables, which dl«f
not fully respond to tho New York de.
clliic of yesterday, Thlv stability of the
European market appears singular, inns,
much as a large share of the recent self,
tug here Is supposed to bars been fur
European account, and ns the local mar
ket Is not above a 'parity, the reverse
tielng the rose.—GUwrt ft Clay.
Opening range ami close «r «»*•* Vnrk
coffee market for todny
January.. .
February..
March.. ..
April
May
June
July
August.. ..
Hepfembcr..
( »!.«•!
Kan
..7.9i
. ..728 785
. ..7.86
...7.35-7.46
,...7.45-7.60
. . ,6.70-6.90
ABO
. ,.6.8541.99
. 6.i*
.. .7.00-7.00
Det otter
November
Denmlter
t'lesed steady.
7.00-7
7.66-7.IS
7.1S-T.2U
7.40-7.»
6.70- 4.7S
6.70- 4.76
6.80-4.L',
6.90-4.95
6.96-7.00
Rome demand for Canadian Forlfle in th*
loan crowd, bnt other stocks plentiful.
Germany placing orders for 8m
nnd ('oat In England.
lerndon expect* Now York to engage gold
next MimtUy, when I4.6OM0 bar g»dd will
citing iron
099 to 11,090,000.
I/Ake competition muses reduction In **.
port grain rates.
Twelve liidustrlnls decrenset! .36 per cent.
Twenty active railroads declined 1.38 per
relit.
LOWRY NATIONAL BANK
CAPITAL, SURPLUS AND PROFITS
OVER ONE MILLION DOLLARS
Foreign Exchange, Travelers’ Checks, Brown
Brothers' Letters of Credit available in all parts
of the world.
MADD0X-RUCKER BANKING CO.
CAPITAL
SURPLUS AND PROFITS
ACCOUNT, INVITEO
$209,000.00
$500,000.00
•JO
We invite accounts of individuals, corporations, banks
and bankers and offer the best terms consistent with
conservative banking.
In our Savings Department w# allow Interest at the Hate of 31-2 per
. cent Compounded Suml-AnmioHy
IN THE NORTHWEST
\ i '
Influence for a Firmer Open
ing in the Wheat
Market.
CABLES WERE’HIGHER
The Canadian Crop Report
ed Damaged Was Als.o a
Bullish Help.
By rrirntu Leased Wire.
Chfngo, Aug. 33.—There wo* a firtnep
opening In wheat today influence/
chiefly by reports of ex< eaalve rain*
In the northwest and a forecast for
more today. Cable* were 3-8d higher
on reported damage to the Canadian
crop and a firm Winnipeg market.
CHICAGO GRAhTmARKET,
'
