The Atlanta Georgian. (Atlanta, GA.) 1906-1907, August 24, 1906, Image 11

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    WMM
EDITED BY ( ___ _ ' ! N.
j JOSEPH B. LIVELY^ THE GEORGIAN’S RECORD OF MARKETS AND FINANCE )
Mr. Lively** 3» years’ experience
)f editing mnrket* In Attnnfa sod
the South hm made hfm a rs#»
guizud authority Id ht* specialty.
SIEIi IN TONE
Initial Prices Were 3 Points
Higher to 2 Points
Lower.
BULLS GAVE SUPPORT
i, Brought a Quick Response,
Prices Scoring a Smart
Advance Early.
New York, Aug. 24.—In the cotton market
the undertone was steady at 3 points lower
to 1 higher. The pit Element seemed to be
fairly well evened up. and a little bull sup
port brought n quick response, prices ad
vancing 4 to 5 points over yesterday’s closp.
Liverpool was due to come unchauger this
morning, bnt Instead Urst prices were 1 to 2
points down on futures, while spot quots-
ttons showed a loss of 5 points, making mid
dling 5.29d. The futures at close were 4
point*.
New York was (regular at the opening,
first prices being 3 points lower to 2 points
higher, bnt on some unfavorable crop re-
nnd light ball support prices soon
■Mid upward—De ‘ -
8.95. sold up to 9.13.
The advance *
sales on which
place. Mitchell
market doWB. .
thought to t»e for Price. , „ ...
At mid-day the mnrket wa* dull with
fluctuations covering it narrow range.
Superintendent King's lu-siglit figures for
till' week 76,324, nptln.t IMJtniM rent- For
the eeniwll to dntc 11,073,239, n*tllu»t 13,634.-
lli'i'elnt, of new cotton toilny at G»lve,ton
6,750, New Orlean, IS, Auguita 46, Uouiton
5,662 ami Savannah 30.
Ilnuatoa expect, 6,000 to 7.000 bale, again,t
6.41H actual lilt year.
Weekly Interior movement for twenty-
nine towns:
lleeelpt, 43,424. agaln«t 4S.6S9 ln«t year and
27.171) In 1904. Shipment, 49,600, agnlnit 47.-
462 in»t year and 26,101 In 1904. Stock,116,-
8POT con ON MARKET.
Atlanta, qniet at Mtc.
Now York, quiet at 9.90c.
New Orlean,. quiet at 9 7-16c.
I.lverpool, quiet at 6J*d.
Attgn,ta. steady at 9He.
Savannah, qnlet at 9 f-16c.
St. I,onle, qnlet at Mtc.
Iloeton. qnlet at 9.90c.
Mcmphl*. <iulet.at.964c.
Ilhltlntore. nominal at 9Hc.
Charleston. quiet at Sttc.
Mobile, dull at 9V4c.
NEWS AND GOSSIP
Of the Fleecy Staple.
1’rlvnte Wire to Ware A Leland.
New York, Aug. 24.—Llveri>ool opened
quiet and unchanged. At 1205 p. ui., 1
dowu iiml .quiet but sternly. Hates 4,UOO.
Himts 5 poluts dowu at 6.29. Futures due
about unchanged. ,
Liverpool wires: “Market affected unfa*
vorabjy by bears selling. Market exhibits
very little buying power."
Action of cotton market this morning In
dicates a considerable short Interest, some
of whom feel nervous. That bus caused
buying and shows but little cotton for sale,
rmnk we may have some further rally, but
Ithout Nt.oiig news we think It will be
sly temporary.
Cotton mnrket
sts have bougL. W
ven np for end of the week. Trade mod
erate, Out with a fair share of outside busi
ness. Looks us though It would work up a
little higher for the present.
may work It up some, but would se!
* ulges for the present,
Leaser-Uolduutu cotton letter follows: The
weather (luring the past seveu days has
been more favorable over onr entire terri
tory. Our reports from southeast Missouri,
white river, Arkansas river, south Arknu-
sos and the Helena districts are generally
very good, particularly for the uplands. We
hear of a few complaints about shedding
ami sharpshooters lu the bottom lauds, but
nothing at all of a serious character, and
could only be expected with so much mois
ture In the ground. The plant Is now lu
the critical petrol, bnt the consensus of
opinion from our bent-informed people over
our entire territory Is that with only nor
mal conditions during (September a good-
sized crop Is at this writing practically as
sured.
New Orleans, Aug. 24.—Cables are unfa*
vornble. They were duo about unchanged
on l>oth American markets.
The map shows a moderate amount of
rain well scattered over the cotton licit
Net stock of cotton In New Orleans 11,990,
against 62,039 last year; on shipboard 3,198,
nlust 28,893 last year. •
Juris, Tex., wires: “The crop In this sec
tion has been damaged 15 per cent lu the
last two weeks by weevils and worms."
It Is persistently rumored that big shorts
are covering nud going loug.
Waco wires: “Weather perfect:-farmers
seem frantic to sell; receipts will be ex*
ccedlngly heavy."
Private Wire to Olbert A Clay.
New York, Aug. 24.—Liverpool opened 1 to
down; expected to be uticnnnged.
Liverpool cables: “Affected unfavorably
by bear selling. Market exhibits very little
buying power."
Dick Bros. A Co. say: "Cotton Is too
low to permit the shorts to be comfortable
FOLLOWED LEAD
SET BY L
Initial Prices on Stock Ex
change Showed Decided
Strength.
SHARP GAINS SCORED
Large Part of Buying in
General List Apparently
Shorts Covering.
By Private Leased Wire.
New York, Aug. 24.—This morning’s fresh
outbreak of speculation In the face of the
heavy Indicated drain upon the htuk tm
•ithm may not have been convincing to thi
more cautious element on the stock ex
change, but with the rnuk and file who
had grown restless under the discussion
of the many difficulties nud their restrain
ing Influences, the new start upward was
greeted With much enthusiasm. There was
uothlug nt all In the day’s outside news
which could have made the market more
attractive to the outside buyer. But the
speculative position had been Improved
by the extensive realizing of the preceding
(lays. The lendlpg spirits In the trading
had seen fed some of their paper profits
and fortified for further endeavor, It#Tvns
considered that the mnrket had taken the
enormous load of realizing sales with rrf-
innrknble small concession In prices, and
that It had thereby testified to great
breadth and underlying strength. Whether
or not these deuctlons were .corrector
should unfavorable crop news make Its ap
pearance. For this reason *—
aider It safe to lie short."
1^66 6 |vu •! ( '16 O «.W. 041/ • AMc
tlment of the local trade and floor crowd.
with the uncertainty of the next few
s Staring the trader In the face."
The New York Commercial says: "A
,rge number of bullish messages from the
pit expected today. The next monthly
government report Is expected by many to
■how smallest August deterioration ever
known.-’ - :>
The Journal of Commerce sirs: "The
movement of goods from the jobbing houses
uirtments ore using fines lending 1
LIVERPOOL COTTON MARKET.
I.lrerpool, Abb. 24. 12:16 ]>. *n.—Cotto.
speculation And export 600; receipts 1,000,
American 600. .
Futures opened quiet and ateady.
Opening I’renoas
Rant#. Close. Lip
,. .6.06-6.02 6.00 6.0J
.4.90-4-98 6.04 4.«
.4.93-4.92 4.97 4.g
...4.91-4.90 4.96 4.9
.<4.92-4.89 4.96 4.91
,.4.92-4.90 4.98 , 4.9J
.4.92-4.91 4.97 1 4.K
4.96*4.93 4.99 4.91
iJfft* 6.00-6.01 4.98-4.97
.4.98-4.98 6.02 4.98
August. . .
August-Sept.
Sent.-Oct. .
Oct.-Nov. . <
Nov.-Dec. ..
Dec.-Jan.. ..
Jim.-Feb.,..
TODAY’S PORT RECEIPTS.
The following uble .bow. r*Mlpt, »t the
port, todar. compared wits tS, aam, da,
Init Tear:
INTERIOR MOVEMENT.
TSe following table thowa rtcalpta at tha
Interior towns today, compared with the
an ius day last year:
Augusta. .
Memphis. .
St. Louis.
Cincinnati*
WARE & LELAND’S
DAILY COTTON LETTER
.... H Liverpool was
MtJur disappointing, init our oj»eulug was
v **ry steady nt a slight advance, which was
■•Weil ti* during the morning until prices
ire the best part of 15 points higher than
the level of yenterday’s closing.
Bh-.rt* contributed folly as many buying
or.I.M* us did the bulls. The advance.neem-
}£L n„
«*"im— ... -
nimsge lii Texas by weevil and worms. On
“*'• opening sml for some time after they
* a Pl*o*ed to hare been heavy buyers.
Jh'dr iiurchaset put shorts ou the ruu and
Ri c flu* market a strong undertone. The
situation is now very uncertain. August Is
fcUimn «„ the gamillers’ mouth. Just be-
cniUM* the most nnlooked for developments
*5® hatched In any twenty-four hours
f it fjirge crops have been made over
into famine ylyld* In August, and nmserva-
ur.; opera tors have come ti> look upon a
, ^Hon on the market In Anemit
!!* ‘langenma thing. While the prospect*
for n *«r*« crop, those prospects
tU ,,hnn «‘*. The rains have ceased end
nr + undoubtedly high: If they
\vi i hl * h# T disaster may overtake the crop.
♦ i-u wiu'-nd Insect damage la complalmsl of
,n r, va «- V»d It la hardly probable UKU
ovum. A ft 164 6 6. *W. CAinu,
yesterday, and the day previous quite n
large line was sold for South America end
for the Hawaiian Islands."
/ New Orleans, Aug. 24.—Liverpool 2 down
Is again lower than expected. Lnchauged
was due.
Map shews light scattered_....— —. —
the Mississippi rlvor, with cloudy weather
on Atlantic coast and clear lu gulf states.
Heavy rains have fallen In Oklahoma and
.. Drought a prompt response.
Following the lend set by IaiiuIou this
morning, the initial prices on the ’—*
local
The Texas short Interest has been chiefly
responsible for the present advance. Now
that the covering Is practically over, they
arc beginning to send In less favorable rr«»p
COTTON REGION BULLETIN.
STATIONS OF
ATLANTA
DISTRICT.
•Atlanta, clear. . .
•Chattanooga, clear.
Columbus, clear. . .
Gainesville, clear. .
Greenville, elondy. .
1141 •
Home,
Kpnrtitinmrg. clear.
Tallapoosa, clear. .
Toccaa, clean . . .
West Point, clear.
•Minimum tempera tares nre for the 12-
hour period ending nt 8 a, ra. this date.
HEAVY RAINFALLS.
Gainesville, Fla.. .. .
Thoiiuisvllle. tin..
Oklahoma, Okla.. ..
Atlanta.
Augusta
Charleston
Galveston. .....
Little Rock
Memphis
Montgomery
New Orleans. . . . •
Oklahoma
Savannah
Vicksburg
WHndngton
*72
T Indicates Imi^^reclnli a rainfall.
Tin* tem|»eraturi>M were slightly lower than
for the previous 24 hour* lu the eastern ills-
* • * - * *-•-*- iter the wesflrn
_,, w .crate rains have
fallen In all except the districts of Galves
ton. Montgomery and New Orleans. Heavy
amounts are reported nt points In Georgia,
this sort of damage will decrease as the
season grows older. On top of this. are
ueariug the time of the equinoctial storms,
which sometimes have ranch to do with the
slse of the crop. The greatest niovetnent of
new cotton in August was 185,909 bales In
p©6. We cannot bojH? to reach that amount
this rear, although we will undoubtedly ex
ceed the nevf highest moremetiL which wn*
98 631 bale* In Angnst. 1992. The crop of
UDM7 was inly 8.757.964. and therefore a
large movement of new cotton In August
proves nothing.
GI BERT & CLAY
ATLANTA. OA.
COfFCC, PIXOVIAIONA
11 «• ALABAMA »T.
I
rVL k o 8,0ek Et<-h*ng».|!C«w Oi^n,T*t\rEx,tang.|C1il«m TJJ4*.
& York ort's» oSm arRclTOa^^Bssss^
«nd Long DMunTtSSR. FAGAN, M.n.fl.r, JST
stock exchange showed decldinl strength
with gains ranging from per cent,
distributed throughout the list. The fea
ture of the early trading was 8teel com
mon, which advanced He. Amalgamated
Copper and Anaconda resumed their up-
ward course. Amalgamated opened %c
higher and Anaconda 2Hc. In the railroad
list, the strongest features were Atchison,
Louisville nml Nashville and the IIIll
stocks. The fortner two made first gains
of 1 point or more, while Northern 1'n*
clflc rose 144c and Great Northern opetied
2 points up. Other notable gains were %
In Heading, % In St. Paul, union Pacific
nnd Southern I’nelflc, % In Canadian I'n-
dfle nnd H lu Wabash preferred.
The itock mnrket developed general
strength following the opening gains and
f irice* of leading Issue* moved up sharply
n the first hour. Atchison was most prom
inent In the railroad list, advancing 2H
points. O. R. McDonald Imught Atchison
on a largo scale. Anaconda made a net
( rain of 4H i»olnts. A large part of the
raying In the general list was apparently
covering of shorts.
London Ixraght 60,000 shares, chiefly
Southern Pacific, Erie, Copper nnd Steel.
Governments unchanged.
‘Other bonds firm.
LONDON STOCK MARKET.
STOCK-
Ann co n dn
Atchison 101*4
Chic., MU. and St. Paul.... 190&
Erie 1 "
do. preferred
Illinois Central
Louisville nud Nashville.
New York Central
Pennsylvania
Rending .. ,, .
Southern Pacific.. '
Cwon Pacific
tJulted Atntes Htecl
do, preferred, . . .. ,[108’
RANGE OF NEW YORK STOCK MARKET
Amnkgnmated Conner........
American Hngnr Ueflnlng...
Atlantic Coast Line.....
Amcnoda
American Locomotive..
do, preferred
American Smelling Refining *
do, preferred
Atchison
do, preferred
American Cotton, Oil....,
Baltimore nml Ohio
Brooklyn Rapid Transit.
Canadian Pacific.
Chicago and Northwestern
Chesapeake and Ohio,
Colorado Fuel and Iron
Central Leather
do, preferred
Chicago and Great Western
Chicago, Milwaukee and St. Paul
Delaware and lladson
Distiller** . Securities
do,
General Electric fir....
Illinois Central
American Ice Securities.......
LqplNvilio nnd Nashville
Mexican Central
Mlswourl Pacific....
New York, Ontario nnd Western
National Lead.....
Northern Pacific......
New York Central
Norfolk and Western
Pennsylvania .••••••••.»,. «. ..
People's Gas
Pressed Steel Car
Rending *
Republic Steel..
Rock Islnnd
do. preferred ..«•«««
United States Rubber
do, preferred
Southern Pacific
Southern Hallway
do, preferred...
Sloss-Sheffield
Tennessee Coal and Iron
Texas and Pacific
Union Pacific
United States Steel
do. preferred
Vlrglnia-Carollnn Chemical
do, preferred.....;
Western Uulon
Walmsh . .... I
do, preferred
Wisconsin Central
do, preferred
Total stock sales today 1,434,400 shares.
NOTES ON GRAIN
Pointers on Provisions.
Private Wire to Gilbert A Clay.
1 nteresta apt*ear wll
. Oats must la*
close to bottom.
Private Wire to Ware A Leland.
Chicago, Aug. 24.—Wheat mcciiis to l»e In
a g«KMl scalping position nt present. The
mnrket Is e\ * *
easily from a
scrvntive way.
Argentina visible supply In chief ports:
Wheat 1,318.000, against 3.382.001 last year.
Corn, 3,488,000, against 4.869.000 In at year.
Oats ojhmhnI Ntcndy. Bartlett, Frazier A
Carrington selling few. Heptemtier now
local stdllng and lack of outside
not get very
from the bears, who ... „
but little effort to cover.*'
easier
ipport.
Do not
RANGE OF THE COTTON MARKET
AT NEW YORK.
Aug. .
Hept. .
?t. . .
s'ov. . ,
)ec. .
Jnn. . .
Feb. . ,
March.
Closed steady.
TIPS FLASHED
From Wall Street
Spader
stained
the Inte trailing yes*
A Co.: Most t hiups point "to a sastaljoed
market today,
terday gnve — — .... — c — ...
the Copper shares, the Htecl stocks, and.
perhaps. Union Pacific. Liquidation since
-Monday has been heavy, though without
Impairment to the market’s tone, and while
the situation to some extent depends
THE WEATHER.
LOCAL PORECA8T.
For Atlanta and Vicinity—Partly cloudy,
with occasional showers tonight aud Satur
day.
WEATHER IN COTTON BELT.
Texas—Houston, Tyler, Dallas aud San
Antonio, clear and hot.
Mississippi—Hattiesburg, Merldlhn. New
Albany, Aberdeen nnd Holly Springs, clqar
nnd hot; Tupelo, Jackson, Ns*
aoo City, clear nnd warm.
Alabama—Birmingham, Selma and Ope
lika. clear and hot; Montgomery, clear and
very hot; Mobile, clear and hot, some rain
yesterday afternoon.
lenrliud pleasant*, ’ hard
rain yesterday afternoon; Albany, partly
cloudy and ptensaut, rained last night; At
lanta, partly cloudy and warm.
WEATHER IfTwHEAT BELT.
Extreme Northwest—Partly elondy, 40 to
68 a (Hive.
Northwest—Cloudy, 64 to 84 alrave; gen
eral rain*. . „
West.nnd Southwest—Partly elondy,.84 to
74 nltove; general rains In Kansas and Iowa,
locsl rains in Missouri, Nebraska and 111!*
Ohio Valley—Partly eloiuly, 72 to 74 above.
weatherTorecast.
I^ralslnna, Alabama, Mississippi nnd East
Texas—lx»cal rains rrhlay nml Saturday;
cooler In north portion Friday; cooler Sat
urday; light to frcsli south, shifting to
southwest, winds.
Georgia—Showers Friday anil Saturday;
cooler Snturdny; light to fresh south winds.
East nnd West Florida-Local rains Frl*
’resh south wluds.
I rains nud cooler Frl-
fair.
n, i,nuM»
Saturday fair,
Illinois—Local showers tonight and Bator-
^j&llann—^(fcmSoiial shower* tonight and
^Wisconsin—Partly cloudy tonight and Sat
urday; showers tonight In extreme north.
Minnesota—Partly cloudy tonight pnd Saf-
nnlay: showers tonight, uorthoast; warmer
Hataraay. west.
Iowa—Partly cloudy tonight; showers,
southeast; cooler In central and southeast;
Saturday jmrtly cloudy.
Mlsaonri—Shower# tonight, except fair In
northeast; cooler In northeast; Saturday
partly elondy. . , . A .
Kansas—Generally fair tonight and Satur
day.
WEATHER CONDITIONS.
The weather t* elondy In the southeast
nnd along the east slope of the Knrkles,
while at most other points there Is Inf fit*
ie cloudiness. Shower# have occurred lu
he upper Mississippi valley. In northern
Texas. Arkansas. Mississippi. Georgia, the
Carolina*. Florida and along the northern
Her of states from New England westwn-1
to the Dakotas. The following points n
Georgia report over an inch of rain In the
last 24 honrs; Tbomnsvllle 2.10, Albany 1.24,
and Columbus 1.39 Inches.
The area of high pressure that was cen
tered over Montana yesterday morning has
canoed cooler weatbec In that section, 0\It
the rest of the country the pressure Is hm
nnd 21at.
The conditions favor partly elondy weatb-
r in this section tonight and Saturday,
with occasional showers.
Is In any event
farther decline.
Expect advances In Steel common, Cop-
e cr, Anaconda and Union. Strong mar-
**•
. Information contlnnes bullish on Coppt
which will meet offerings around 11L It
If supported around 101.
Professionals are trying to break the Bt.
Paul 190 support, bnt, If maintained, a
good rally Is looked for; otherwise,** drop
Is due, according to our calculations.
New York, Aug. 24.—Tho New York Fi
nancial Bureau says: Tho policy of spe
cialty Improvement seems likely to con
tinue. We advocate the observant 1 * of a
neutral position on the market, as a whole,
but with preference for the long side for
turns wheu standard Issues are weak, we
would follow specialties up conservatively.
The public In the market will increase
upon encouragement. TUe inside element
seems to as to still !m» bullish, bnt desires
stability with betterment, and will prob
ably act conserratlvelyi This all the more
points to specialty Improvement, which Is
not affected by high money. . Do not buy
on bulges. Government relief for the
money market Is assured by the action of
Hecretnry Hh*w, who has a big treasury
surplus, and can also refnud the high lu-
terrst-bcarlug Ixmds due next year. "“•*
bank statement will probably be uni
Ida tomorrow, unless there Is UtieXM
large decrease In loans, which Will
•ome further raids on stocks. The trouble
In Cub* Is regarded by financiers n»
fosriory so fsr as financial affairs
are concerned, for the United Htatea gov
ernment has authority to Intervene whim
things .become really serious. We think
the tendency of the market Is to seek grad
ually n higher level, nnd reactions will lie
but temporary, for no bear market Is pos-
slide with tno enormous funds mental of
the crops nud general butanes* prosper
ity.
Private Wire to Ware A Inland.
New York, Aug. 2l-l*ndon firm MGttc
hI i h we» posted hoase says no difficulty la
anticipated In liorrowlng money at ren
sonabte rates. The big men have provliL
cd for funds well ahead, and, while re-
ons may appear, there Is every llkell-
that the Iralt campaign will continue,
with the llarrlmau Pacifies active fea-
Tslk Is bullish on Rteels nnd Coppers In
well Informed quarters, Imswi largely on
mngnfficcnt trade conditions and dividend
*WoSld"take on Atchison, Norfolk. Chee-
speak * and Ohio, Car Equipments and low-
priced rails whenever weakness develops.
There la a bull tit* out thU morning
on Colorado 'Fuel. Kpedallst information
Is to the effect that the stock b» supported
around 67 very strongly. We think a try
for a flyer might be made If a small stop
I!esd 1 °preferred dividend 1% per cent;
DeUwnre nnd Hudson ex-dividend I% per
cent; Gas ex-dividend l per ceut.
Wabash, east of Toledo. Including Wheel-
Ing and litkeferie, Wnlstsh. Pittsburg Ter-
mins 1 nnd West Hide Belt, show a gain
of 81.290,008 In gross earnings, or nearly
.28 per cent, notwithstanding heavy toss In
coni haul, owing to miners’ strike April.
May and June. It shows the unbounded
prosperity lu the territory traversed by lu
Dow-Jones’ summary:
American stocks In I^mdon strong %GHc
almve parity.
Hlr Willi*n. __
dlsn Pacific will build 2 mil
IIill t«*rritory for one he bnllda In Can
AT NEW ORLEAN8.
Aug. . .
Hept. . .
Get. . .
Nor. . .
Dec. . .
Jan. . .
Fell. ...
Starch. ,
i.Vi
Clowd ttoady.
Itl
Horn. (Uranic, to .print wh,«t In th.
norlhwMt rpport«l from hnit and lill.ht
raSKlrtEEf 0 * £2. r ~S ,ock ,!llcl " ,n *•
All Indl
ton crop.
American Locomotive Is now doing rec
ord business. nnd the anuual report forth
coming will show large earnings.
Serious shortage In Itusslnn wheat crop.
Revolutionary movement In Culm check,
ed.
Banks continue to lose cash to tha In
terlor. but treasury deposits wl»b ont-of-
town banks will help.
Thirty-five roads for second week in An
gnat show gross Increase of .184-10 per
cent.
Twelve Industrials advanced .27
cent.
Twenty active railroads advanced .32 per
The Chicago Inter-Ocean: Sale* of cash
rain In Chicago were 160.000 bushels of
rhent. 250,000 bushels of corn, and 140,
I60.bod"oats.
It Is Impossible to get any *klnd of
news about the northwestern wheat crop.
There were reports of good yields from
the threshers; also, numerous claims of
poor ones. Rains over part of the north
west have delayed harvesting, nml If con
tinued arc expected to retard the move
ment of the new crop, in the face of
thnse variegated reports, MliicuiHitls re
ceived 25 cars of wheat yesterday which
I H rn. Tha
Meptein-
• £\u, x ni «r over.
— -- Ity nilllers nml Missouri millers
were lu the Kansas City market yesterday
with prices 2c higher: So. 2 ffffilh. and
No. 2 hard nt 8se. There wore antes luto
Wednesday of*175,000 bushels.
Kt. Ij>uIs msh wheat was %c higher
at TOOTllkc for No. 2 red. Despite the
heavy marketing of winter wheat slnec
July 1, Ht. Louis has only received 5.250,-
000 bushel* nr 1,789,000 trashels less than
•nst year. Chicago received 14.492,000. nil
Increase of 6.957,003 irasliels; nnd Kansas
City 11.426.030. a decrease of 429,000 bush
els. At primary points, receipts aggre
gate 44,620,000 bushels, an Increase or 7,-
233.000 bushels over Inst year.
Exporters at the Atlantic seaboard are
mostly lH»nrlsh on wheat. They declare
that Europe does not follow onr lend, and
has only taken a tew loads.
Reports from around Hpencer, Ln., any
that oats arc yielding 208426 per cent less
than last year, and that the farmers are
stacking them. At Kentlsnd, Ind., oue
farmer secured 47 irashcls per sere.
C. E. Iii-wls, of Mlncnpolls, wires: "The
people who are long wheat In Winnipeg
nre sending out damage reports which we
do not believe. Our Mr. Cassidy Is cov
ering the north half of North Itakota
nnd harvest in full blast.*
THE COFFEE MARKET.
New York, Aug. M.-The market opened
steady, but at a partial drcllnc of 6 points,
with liquidation of the near months con
tinuing to \m the speculative features. This
was mostly In the form of exchanges,
however, nnd had little effect on the mnr-
April
June ».
July
August..
September.. ..
October.. .. ,
November.. .. ..
December
Closed steady.
nge. Close.
'SIS
.16-7.'
.20-7.:..
26-7.35
7.35-7.40
7.40-7.45
8.8B4.“-
ISi
L. J, ANDERSON A. CO.'S
DAILY COTTON LETTER
New York, Aug. 24.—There wns better
support offered to the cotton market today
by short covering and some buying for
a rally on the less favorable weather re
ports from the lndt. Heavy precipitations
were recorded lu Irath the eastern and
westeri? portions of the licit. The market
has been In a state of equipoise for soms
time now. and the trade, as a whole, has
been expecting a rally on any little change
In the..character of the news. In addi
tion, reports of weevil and shedding nre
•till coming on. The bulk of the trade,
howerer, still expect a large yield, and
do not look for anything letter than n
temporary rally ttnleaa there Is some de
cided change In the crop ontlook.
SOUTHERN EXCHANGE
Oldest EsUblUhed Office South.
COTTON - STOCKS BONOS GRAIN
Ground Floor Gould Building. Dully
market letter And market manual
mailed on application.
L J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, GRAIN
Correspondent's Capital $250,000
aCPEaENCC, THE NEAL BANK
PHONE 1417. PRUDENTIAL BLOC
MONEY ON CALL,
Private Leased Wire. '
lew York, Aug. 21.—Money on rail 3H$5%
cent.
Htcrllug exchange, posted rates, 4.11% and
Ysrk. New Otltsai.
WARE A LELAND
COTTON, GRAIN, PROVISIONS, STOCKS, BONDS,
Ns. 2 Wall St., Ftfttt Buildlag. Atlanta, Ga.
VCMSfffS;
lit fsrft Cfffoi itekaage. Chicago Board at Trado.
Jfcw Orleans Colton ficSaagc. Chicago Stock Uxkaoge.
Lheraoot Collet Astoclal.oa. New York CtUee hekaago.
frit alt Wires to Hew York, Bew Orleans, Chicago. f. C. COTHKAN, Manager.
— fwm
Bett Fbo ■< 1362.
Standard Phone 2M,
SOUTH OFFERING
COTTON FREELY
New York, Aug. 24.—The Hun says:
"The cotton market developed unexpfrta.1
weakness today. It stnrtcd In Mvrrpoul,
where prices fell 164920 American points.
owing to manipulation tr$r American bears,
liquidation nml large nffertugs of new
cotton from tho Houtb. Tide wns the signal
for heavy selling here for laoth sides of
the arnrant, and prices fell sharply, nnd
nlthough at one time a moderate rally oe
eurred. It warn followed by renewed henry
selling and depression, sml the last prices
were about the lowest of the day. I4ver-
jHMtl sold here and tho South continued
t6 sell heavily, while the receipts of new
cotton were lll»ernl aud the South wns
said to be offering now cotton freely. On
th«- decline, shorts covered and considera
ble buying was also noticeable for account
of local nnd Wall street traders. Hpot In
terests were buying, a good spot dehiand
wns reported at the South nnd Increas
ing shedding and weevil damage were re
ported from Texas, But, In the main, the
crop reports were as favorable as ever.
In fact, the Indications for n large yield,
Judging from present appearances, are so
giHMi that few have confidence In tho long
side for any material advance."—GIbert
is Clay.
New Orleans, Aug. 24.—The Tlmes-Demo-
ernt: ••Yesterday's cotton market waa
quite characteristic of current events. Com
tfcqiietitly, a few folk evidenced a drain
to buy the stuff for the reason that even
after a decline of 180 {mints and more,
bear dope alone wins sympathy. In proof
thereof, the talent traded on Liverpool's
JJJoglralJy low opening, while tom#
counted high temperatures over tha
belt attracted little more than paasl.. M
teatlon. The routing of the brag Interest
held by oiice-eonfident reactionists proved
a fruitful source of bearish profit, and left
the staple short on friends and long on
enctnlm. Meanwhile, though many wise
traders bellevn the speculative price tins
scraped iMittoin for tho time l>e|iif, the fact
that spot cotton has swung down quite
near tno trading value of options may
prove an unfortunate object lesson to tho
Yesterday’# decline of nearly a
Imle leave# the price only n very
few points liettcr off than the season's ex
treme low level."—Ware Jk Leland.
GIBERT A CLAY S
DAILY COTTON LETTER.
WHEAT OPENED
Selling During Morning Ses
sion Wns Mostly by
the Pit Crowd.
BUYING WAS GOOD
Offerings Were Easily Ab
sorbed—Advices From
Abroad Disappointing.
• -tin
By Private loosed Wire.
Chicago, Aug. SL-lfttfglDg sale
popular In the wheat pit, these trnnunr.
tlons being mollify against the big crop
Northwest. Corn nnd oats were slow. Clos
ing prices showed wheat V* to V “ff. corn
V4 to %c lower, oat# off >4 to »,c, and pro-
■Bkhs np sharply-
. .Imnry wheat receipts 477,001 bushels nnd
com 434.000 bushels, against 643.010 lrashnlg
nud 479,000 bushels respectively a year ago.
Clearances lor tho <fny 210.500 bushels of
Wheat, 10,400 bushels corn and 2,(K<0 Irashcls
CHICAGO GRAIN MARKET.
Chicago grain and provisions quotations
for today follow:
Open. High.
Sr. 1
y.^... 7874
”489i 48%
44<i 44»i
WHEAT—
Hept....
Iw
May....
CORN-
Hept....
Dec....
May
J OAT8- .
ept.,.» 2914
lee » 3!
lay 8314
PORK-
Hept.. 17.08 iT.dTH 17.05
Jan li.42* 13.43 13.35
Ix»w. Close. Close.
:o?4 71H 71V4
73% 74% 74U
•8V4 78*1, 78\
48J4
38
'H’K
Hept.. 8.60
Oct..,. 8.86
Jnn... 7,80
8IDBH—
Hept... 8.86
tlct.... 8.60
8.80
m
7.75
13 46 13.46
8 SO 8.6714
8.S7H K 8*
7.S7I4 7.8244
8.J7H
8.86
7.224
Jnn.;;.. '7.20 7.24
CAM 11 WIIRAT-
No 2 red 72©72%4; No. 8 dn 71JS72: No.
2 hnnl winter TlfnlH; Nj. 3 do 70ft71.
PRIMARY MOVEMENT.
The following figures show the primary
movement of wheat nnd com:
Wheat—Receipts today 477.000 btishela.
000 irashcls Inst year.
Corn—Receipts toi|ty 424,000 Irashcls,
against 479.009 bnutMft Inst year: ship
ments tralay 800,000 bushels, ngupist ti‘3,-
000 bushels Inst year.
LIVERPOOL GRAIN MARKET.
Wheat—Opened higher; nt 1:39 p. r
4014c higher; rJose.l 4fi4e higbe
17000
I200J
i of a reaction from yesterday’s dt»-
lowtr.
The ruling strength of the American mar
kets was primarily dm* to short covering on
Wheat..
Corn.. .. .. .. ..
Oats.,
Hogs
NORTHWEST CARK
The following figures give the northwest
cars today. Inst week and last year:
... . 7<ast Last
Today. Week. Year.
Minneapolis 7n lio 172
Duluth 6 130 8
COTTON SEED OIL MARKET.
New York, Aug. 21.—The market for cot*
ulet nnd a little wanker
par.
‘nrJr _ .
tlcninrly so of the Into deliveries, and
there appeared to lie some disposition to
sell for the recent advance. Netting was
Influenced by tho weakness In cotton, and
also by a report that 5m barrels of new
prime oil has already been shipped to
New York, nml more would soon follow.
The market nt the close was generally 4c
lower, with the exception of August, which
ndvnnccd w.-tflts A I.elnml.
Opening. Closing.
August. 8544/3* 38 $364
Heptenilnw. 884088
October. . . .
November. . .
December. .... __
January 29>j4r80 29^
ton
re*
294B3I
304 m
864, sml 600 November nt 30.
IF
*r at
n more extensive scale, the Incentive for
which Is found In the receipt of numerous
advices from Texas, Indicating damage
through the activity of IhiII weevil and
worms. Complaints of serious Interference
with picking, through the frequency of
mini were generally reported, although full
credence was not given those sources of
Information, as the belief prevailed Chat
they were partly Intended to Improve mar
ket prices In order to achieve a better ba
ils for selling.
Whatever the Intention may have been. It
waa effectual lu reducing to a minimum
Itenrlsii activity, and served to create con-
slderable encouragement to manv who atlll
adhere to the theory that n reaction Is due.
However, In the absence of any well found-
ed cron scare. It does not seem likely that
mnrket Improvements will »»e other thss
temporary, ns general prospects for the
crop continue still most satisfactory.
LOWRY NATIONAL BANK
CAPITAL, SURPLUS AND PROFITS
OVER ONE MILLION DOLLARS
Foreign Exchange, Travelers’ Checks, Brown
'Brothers’ Letters of Credit available ln all parts
of the world.
TIIOS. J. PEEPLES. Cashier.
JA8. G. LESTER. Ass’t Caihler.
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.