The Atlanta Georgian. (Atlanta, GA.) 1906-1907, September 06, 1906, Image 11
THE ATLANTA GEORGIAN.
Thursday, September «. lro.
11
CHESS QUIET
11 mum
First Prices Were About as
Expected on the
Early Cables.
LATER ACTED STEADY
Trade Was Restricted by
Approaching Condition
and Ginners’ Reports.
private Leased Wve.
Sew York, Sept. 6.—Business at the
aliening of the local cotton market wan
quiet, flret prices being un-
rhanged to 3 point* lower, or about an
•vnected on cables. After the call the
STa“ed steady, trading being re-
iiricted by the approaching condition
!„ri ginning reports. The private ca-
,no „ mu. hniii«h
mm "received were a little bullish.
Th,re was likewise dome apprehension
/lit over a heavy storm that Is ached
There was
Sw^strlke the Florida and Carolina
C0 At t the°Owning the market for cotton
.Minns was quiet with prices about
due on the early Liverpool advices.
Thit market opened about as expected
options, while spot was 3 point*
higher With sale of 7,000 bale* at 5.41
for middling; but as the session ad-
ranred prices Improved, until at the
dnse advances of from 6 to 6 points
were recorded
rndor this Influence and a wet map,
New York's opening was practically at
the lowest point of the morning. Good
buying was noted, some of the early
tellers changing front and buying free.
The morning advance was continued __
til lienr the close, which wns sternly Ml 11
mints higher on heavy taylu* nml short
covering on further reports of deterioration
Sri fearing iroplcnl storm* hew Or-
and the amith good buyers; eoumils-
■Inu houses picking up a lot of cotton.
Waablngton, U. C„ wires; "Storm now
on the Atlantic const will cause heavy
precipitation In tbe southern states to
Eshmated receipts tomorrow
New Ortenns..
Gtlrmtoa.. ..
Houston
1906.
..1.200 to 1,700
..9,000 to 10.000
..7,600 to 8,600.
SPOT COTTON MARKET.
Tfrarpool, cotton npot demand Inerenecd,
with prices steady; middling upland* 6.41d;
tnlon 7.IW: Amcrlcnn 6,700; epeculatlon and
Mtsirt 7<»0; rccclpta 4.000, all American.
Atlanta. steady nt 9%c.
Now York, quiet at 10c.
Now Oricana, uteady at 9%c.
Augusta, steady at 9%C-
Hnvsnnsh, quiet at 815-18C.
St. Louis, quiet nt 9%c.
Houston, steady, at, 9 3-16C.
Boston, fjulct at 9.90c.
Galveston. steady at 9%c.
Memphis, quiet at 9%c.
TODAY'S PORT RECEIPTS..
The following table abowa receipts at the
1909
19(6 p
New Orlraiii . . . . .
Galveston
MoMte
Savannah * .
•'In rte* ton
Wilmington
Norfolk
Host on
Philadelphia
1463
8067
681
2573
G3
70
171
10fi66 _
398 “
9254 £
2134' *>
959 ft
1591 -J
669 t
174 1
Total
12978
27484 «
INTERIOR MOVEMENT. e
The following table ihowi receipt* *t the
Interior town* today, compared with the *
•aDie day last year;
1906
1906 a
™ — r)
HirUStnn .
Augusta. ......
Memphis .
*840
5
7265 »
• % p
Cincinnati
112
274 • V
Total
9911
mu w
THE COTTON 8EED OIL MARKET.
Now York, Hcpt. 6.—Ttoe market for cot
ton wvd oil was atronf. with a further nd
mnro shown In nil dellrerifa nt the atart.
Thorp wns n good demnnd for OctolH»r and
which mo»t of '* * J ‘ ■*“
tejnber ndvnnra
, 1 of 4c from the low
lj scon. The tlrmneaa continues to to baaed
on the light atocks of oil. nnmll tendera on
neptcraher and n belief that there will l*e
no pressure of new oil until Inter In the aen*
•on. nnd in the meantime the demnnd will
to l»e supplied from the auinll atocks
carried over. The market at the eloae was
uulrt with prices unchanged to He higher.—
^aro k l.eland.
SSSSr-;. :L£BR
Novenilier „r XiT *“
Hcremiier.. ..
January
£r h "..'; ** ' _
W*. 1I» May"at ’l£ 100October aI
*nd m I)eee m fie r at 30%.
rio8.»d steady.
CIBERT & CLAY’8
.. „ DAILY COTTON LETTER
n”'" Orlean*. Sept. 6.—In Liverpool op-
n»rn rul*Mi very steady nnd showed a fair
JJbance on covrrtng by ahocta. finally
2565 f ">m 5«4 points higher than Ihe
'K* *<*****■• More demnnd waa
JESS** 1 for "P°t cotton, sales today
•“Anting to 7.0ft) bales at 8 points high-
, westhfr la the tantamount In-
Sr nr ‘* nffectlng the course of the mar-
t.■ n *l. "HI continue so until the crop
“Practically assured. The numerous re-
E?”" ,nw * rt tlnmnge are nil traceable
in? i srnw ' lnore numerous after frequent
•nu h.vny rnlns. Thus, a wet man and
ra»* Presence of a storm ofT the South At*
JKJS' . roa,t » w,th Indications ft* heavy
* , ? v c entiaed widespread uneasiness
nuuiff shorts, who, through their corrrtug,
mJ ■ 1, * v «uced nnd maintained considers-
tL * f, ‘ !, 'llnesa In market pi roes today.
r /w l> nt th «* present time, judging
™ the numerous reports received, lias
NEWS AND GOSSIP
Of the Fleecy Staple.
By Private Wire to Ware & Leland.
at 5.41, 3 up. Due to come unchanged
to 1 up.
The New York market opened quiet
and steady, and at about unchanged
prices from last night's close. Trade
was light, commlaalon houses buying
a little, and locals sold. Schill sold
October and December.
The market haa had a quick advance
*mf® the opening on local covering
and buying by commission houses, duo
probably to storm signals reported for
the Atlantic coast. New Orleans
good buyer here.
Schill, N. Wilson and Wallace buying
December.
The New York Commercial In Its
yearly cotton review this morning, says
of crop conditions; Yield will surely
exceed last year's with Texas expecting
a bumper yield. All of western belt
has had Ideal weather. Rain nn east
coast. Ti ana-M isstssi iqil section com
plains only of shortage of labor. Ar
kansas crop will be greatest on record.
Oklahoma farmers enthusiastic over
prospects. Deterioration reported from
Carolines and Eastern Georgia on ac-
count of excessive rains.
The second annual of the National
Farmers' Educational and Co-operative
Union convened at their hall In Tex
arkana yesterday morning and will
continue for three daye. The order
claims a membership of 600,000.
discussion by the convention of the
conditions of the cotton crop through
the territory represented, the reports
showed an average deterioration of 20
per cent In crop within the last 20
days, due mainly to Insects and exces
sive rains. At a late hour last night
the delegates of the National Farmers'
Union, by unanimous vote, reaffirmed
the decision to hold cotton for a min
imum price of 11 cents for middling
basis at Interior point* for this year's
crop.
New Orleans, Sept. 6.—The market
steady on light offering. While It
la still largely a professional market,
the country Is getting In on the long
side to some extent.
We are too Tilgh for Europe and ex
porters complain that they are unable
o do much business. One of the larg
est exporters here says that he did only
50 bales over night. It Is claimed that
the lack of export demand Is causing
the light movement and that cotton
Is fast piling up on farmers' hands.
The weather map shows considerable
rain over the cotton belt.
By Private Wire to Olbert & Clay.
New York, Sept. 6.—Liverpool open
ed 1 to 2 up. About as expected.
Fernle, Wilson & Co and Norden bid
ding up market.
Norden, who sold on the opening, now
buying. Shorts show a disposition to
cover
Journal of Commerce says: "A
healthy and steady tone of the market
noted for some time back on quiet
days pervaded the dry goods district
during the day. Trading was In small
lots with scarcity still pronounced In
many lines. Buyers of out-of-town
houses are being pushed to And goods
for deliveries asked for by their firms,
and they are kept hustling about the
market for any spot goods that ap
pear.”
New Orleans, Sept. 6.—Liverpool Is
as expected and furnishes neither a
bullish nor benrlsh Influence.
The market has advanced on wet
map and the receipt of some unfavor
able advices -from Texas, although sen
timent has undergone but little change.
A dispatch from Crockett, Houston
unty, Texas, says: "Cotton Is being
Edited by
Joseph B. Lively
MARKETS
Mr. Lively’s twenty-five
years’ experience of ed
iting markets in Atlanta
and tbe Sonth has made
him n recognized au
thority in his specialty.
RANGE OF NEW YORK STOCKS AND COTTON MARKETS
NAME OF STOCK.
Amalgamated ('
oppur..
Anaconda. PPPPP
American Locomotive..
do, preferred. . . .
Amcr. Smelting lief. *
do, preferred. . . .
Atchison
do. preferred. . . .
American Cotton Oil. .
Ainer. Cnr Foundry. ..
Rultimori* A- Ohio, . ..
Brooklyn Rapid Tran..
Unnndlan Pacific. . . .
Chic. St Northwestern..
Chesapeake & Ohio. . .
Colorado Fuel & Iron.,
Chic. Sc Orest West’n.
Chic., Mil. & fit. P. . .
I' l l".ire Si Hudson. ..
Distiller’s Securities. ..
Erie
do, preferred. ....
General Electric. . . .
Illinois Central
Amer. Ice Recurltles. ..
■ srllle Sc Nashville..
. s . Jean Central
Missouri Pacific
NAME OF STOCK.
I
N. Y., Ont. & Western.
National Lead
Northern Pacific. . , . ’
New Y’ork Central. . .
Norfolk & Western. ..
Pennsylvania
People’s (ins
Pressed Steel Car. . .
do. preferred. . . .
Pacific Mali
Reading
Republic Steel. . . , ,
Rock Islnud. .....
do. preferred. . . .
United States Rubber.
do. preferred. . . .
Southern Pacific. . . .
Southern Railway. . .
do. prefer red. . * .
Sloss-ShelTleld
Tenn. Coal Sc Iron. . .
Texaa St Pacific
Union Pacific
United States Steel. .
do. preferred. . . . ,
Va.-Car. Chemical. . .
do. preferred. . . . ,
Western Union
Wabash
do. preferred. . . . ,
Wisconsin Central. . . ,
do. preferred. . . . ,
NEW YORK.
The following is the range in cotton f«
me following Is the ra
lures In New Y’ork today
Sept.
Nor. .
Dec. .
Jan.. .
>b. .
larch.
yin
• - ■
Hosed si
8.60
i.p
1.8
9.17
9^33
8,39
toady.
2 .
TTOTI
IS
8.76-80
9.00-01
9.09-11
9.21-22
8.66-70
8.89-91
8.99-01
1.09-10
9.18-19
9.25-27
9.32-33
9.40-41
Total stock sales today. 1.315,0007
LIVERPOOL.
Following table gives opening range and
close, compared with yesterday's-closing:
Futures opened steady.
Opening Previous
ltange. Close. Close.
..5.06 5.09 6.03
...4.96-4.91% 4.99 4.93
.4.93-4.92 4.96% 4.91%
**.4.93
.4.94-4.93*
...4.97-4.96*
...4.97-4.9*
...6.01-6.00 ....
..5.01-4.98% 5.06
.6.03-6.64 5.08
September..
Sept.-Oct. .
Oct.-Nov. .
Nov.-Dec. .
Dec.-Jan. .
Jan.-Feh. ..
Feb.-March..
March-April.
Aprll-May. ..
fay-J tine..
Closed very steady.
NOTES ON GRAIN
Pointers on Provisions.
The cfop Is
The western forecast Indicates for
.stern Toxas fair weather tonight and
riday, and for balance part cloudy
nather with probable scattered show
's In Louisiana tomorrow.
Today's map Is again cloudy and
In prices would
DAILY COTTON LETTER
New Orleans. Sept. l-Tmtar'e market
as very ateaiiy, ami a material advance
was acored. Tbe nilvanee. however, had all
the earmarks of manipulation, nnd tt look
ed as If the larseat operators In New Tort
were trying to rqn In the ahorta Offerlngti
were limited from the opening and on quiet
but peralatent buying the priee gradually
roae until tiooember around noon wan sell
ing at 2.25. Kven nt thl* level offering*
were Tartly. For the time belhg the luifta
had the market under eontrol. "bnrta gen-
ernllv seemed convinced that the coming
hurettn report on Monday would show a
deterioration of nt leant 5 per rent and Ihnt
the amount of notion ginned prior to Hep-
trniber 1 would fall for eboft of the 4*9.-
MO bairn ginned before September 1 Inst
year. During the larger part of the season
offerings rniue only front ant ailed long*
The wenther waa not fnvorahle. Heavy
rains were Indleated over a great portion
of the cotton licit nnd atoriea of I Kill weevil
damage came thick nnd font from Texns.
rpool met espertntlona o* futures and
reported an Increnaeil demand for apot*
The movement continued moderate anil wna
n | IU |i movement of eonaldernhle force with
some people. Snots were Arm nnd In good
demand, but limited offering, prohibited
anything like heavy truffle. Many opera-
torn regarded the meeting of the 8outhera
Cotton Aasoelntlon nt Ilot Sprin-u aa a fUe-
tnr of no little Importance to the hall ride,
aa one of the main ohjeeta of the gathering
la to fix a mlnlmnm price for marketing
thin aeaaon'a crop. It goes without laving
that the priee died will lie above the level
now prevailing, nnd a mnnlfeato from the
nMocintlon ought to rnrenrage farmera to
withdraw from the market to a grewt ex
tent. Until offer the htirrsu report, are
l.aued, the market will he *urronmlcd wlth
much uncertainty and ; too decided atosd
tnat now la rntner a dangerous thing ex
cept for fat poekethook*
undoubtedly deteriorated conridertMy, tat
then It must not lie forgotten tnat be
fore thin deterioration became general a
very high condition bad been reached,
inil that possibly tbe peMlralsm of today
“s?,E°” %Vh. 0O !i.? n "rt
event* Indication* point to * --- ---
vleld and only fair picking wenther la
needed to gather the eotton now made.
GIBERT & CLAY
STOCK*. BONO*.
COTTON. ORAIN,
correct, provision*
ATLANTA. OA.
> *- ALABAMA *T.
MEMBERS!
* .Turk stock BxchangeJNew Orlenn. Cotton 'B*5f»S5?lf?viJ.'Si| B cS«on AiSeUtlon
» Vork Coffee ixcbange.|Ne'v ass: Boarti or < cS5u A £3i**%
U.S, and L.n a Dlatanc^TsIcphons*52184 KiehnV ^. "• FAGAN. Mana C .r.
— , ——————
ALONZO RICHARDSON & CO.,
PUBLIC ACCOUNTANTS
AND AUDITORS
Empire Building. Bell Phone. Main 858.
ATLANTA, GEORGIA.
Private Wire to Ware & Leland.
Chicago, Sept. 6.—Wheat market Is
Inclined to be little eteadler. Ranklln Is
about the best buyer of December
wheat, with scattered selling of May
by commission houses.
Minneapolis atocks of wheat de
crease 600,000 bushels for five days.
A little buying of wheat, notably by
a couple parties who gold at the close
yesterday. Market tone barely steady.
Situation continues heavy owing to
the buying power not being lufflclent
to absorb hedging sales, and wheat will
probably drag lower yet.
Langston started to sell December
and the crowd wilted. Trade quiet.
Logan hoa Just sold 100 May corn
at 43 3-8c.
Oats opened steady, with local par
ties selling May. Buying mostly by
commission house*. Trade rather
light.
Light offerings In provisions. Mod'
erato buying of nearby options of lard
by shippers. This would indicate bet
ter demand for. cash lard. Trade light
The general crop report September
10 la to be Issued at 4 p. m. and will
show the condition September 1 of
corn, buckwheat tobacco and pota
toes, and the condition, when harvest
ed, of spring wheat, oata, barley and
rye.
The Minneapolis flour output last
week Increased 20,175 barrels, the
quantity turned out being 237,175 bar
rels. Thts week tho figures promise
to be even smaller. Hot only were all
the mills Idle on Monday for Labor
day, but one or two less are In opera
tion than a peek ago. The output Is
likely to approximate 260.000 barrels.
About all the mills found trade in
flour last week lesa favorable. Sales
were smaller than In the preceding
week and those made .were usually in
small lots.
Private Wire to Glbert & Clay.
Chicago, Sept. 6.—Can see nothing In
the situation to warrant changing our
views on either grain or provisions.
The market Is heavy, due to absence
of outside trade and fear of heavy run
of spring wheat which, we believe, la
hardly probable, as the prevailing
price Is practically below the price of
production. Would buy wheat now and
moro on every aoft apot.
This Is the third day of the break
In wheat, and on gerterat principle we
ought to have a rally.
The Record-Herald aays: “By a vote
of (21 to 177 the Chicago board of
trade voted down the proposition to
reduce commission chargss.
“Sales cash grain In Chicago were
275,000 wheat, 100,000 corn and 190.000
oats. The wheat Includes 235,000 No.
2 hard to go east and 40,000 mixed
lots to local mill*"
Corn trade slow. Market a shade
easier. Weathsr and crop outlook beet
Imaginable.
Iildson good seller September wheat
There was good buying on the decline
of December by Ranklln and Knseland.
Provisions quiet and barely steady.
Pit trade Inclined to sell, but any buy
ing would change temper of crowd
quickly.
NORTHWEST CARS.
TRADE WAS LIGHT
IN WHEAT^ MARKET
Opened with Prices Lower
and the Room Sentiment
Still Bearish.
By Private tensed Wire.
Chicago, Sept. 6.—Wheat bulls were
a happy lot because of the reported
takings of sixty boat loads, 480,000
bushels, for export. This caused the
market to become firmer late, driving
some of xhe shorts to cover. The close
showed price* at l-80>l-4 cent oft with
reactions of S-8c from the bottom. Corn
Was tame as a pet fawn and It closed
l-4c up to l-8fl91-4c off. Oats un
changed to l-S91-4e lower. Provisions
were mainly easlor.
Primary receipts of wheat for the
day, 608,000 bushels, .end corn 672,000
bushels, compared with 761,000 bushels
and 930,000 bushels, respectively, a year
ago.
Clearances from the seaboard were
375,000 bushels wheat, 11,190 bushels
corn and 69,000 bushels outs.
Winnipeg receipts of new wheat were
liberal and the grading most excel
lent.
Argentine shipments for the week are
estimated by Broorohall at 800,000
bushels wheat and 2,000,000 bushels
corn.
.Today's sales were 5,000 bushels No.
1 Northern wheat and 100,000 bushels
corn; 60 loads wheat at seaboard.
CHICAGO GRAIN MARKET.
-Jlcsgn grain a *
for today follow:
Open. High.
NEW ORLEANS.
turea In New
is Is the
Orleans i
THE COFFEE MARKET.
New York, Kept, t—Tbe opening
steady *t an advance of 14 to 25 points In
response to higher eshles and * renews!
of unfavorable crop advlree from Brasil.
There was very heavy realising on the Ini
tial linlge. Ons broker enpnased to repre
sent Wall street people, entd * block of Mt-
000 begs of December, sod with. some sest-
tered offerings priee* lost I to 10 prints of
sr
tercets were baying the coffee thrown over
by. the Wall ntreet long* Prices ronse-
—silled sgsin tngrsrd midday, and In
afternoon the market arse strong
... rally tbe I test flrurea, or a net ad
vance of shoot 90 to X print* Bnslneis waa
much more active than the last two or
three days, and In the transactions daring
the Drat half of the session aboat MOM
bass were handled- Brasilian markets
were anchaasn! to 75 rel* lower. Havre
waa a frsec higher and Hamburg was 1-20
2-4 pfenning higher. The European mar
kets kave bera Inetlaed to steadiness re-
costly. : and » moderate
range ami close
market for to
days /
Opening
tlance. Close.
January LJMJ* *£{.*
BKS7:::::::::: SS@
April ..§.X*79
Jam
Joty ..
Answst,
Kept ember.
eestly. and F.nrepe has l>ee
buyer here.—wore A le land
Following Is the-opening rr
of tke New Totk coffee a
m
t»
UmmliM •• .4JMJ6
'Hosed firm.
May
OAT8-
Ki:::: '
SJn!:: isiiiii ii:«vi u.iiii
LARD—
Octe.
Jan.... 7.21 7.27>
CASH WHEAT—
§•2*
8.60
7.27%
LIVERPOOL GRAIN MARKET.
Wheal—Opened %e lower; at 1:89 p. m.,
%e lower; cloned %c lower.
Corn—Opened nnehnngml; at 1:80 p. m.,
*Je lower; doted *40%c lower.
BULL LIQUIDATION
CAUSED DECLINE
ork. Sept. 5—The Hun says:
f . i wo,, !i hart none of the advance
nnd Plainly unified at tnlea of deteriora
tion In Texns. Expected to rise, at lenat,
10 Aiuerlean points. It declined nearly
that much, nnd adds In Its dispatches
thnt the. South wns offering cottou more
freely and that bulls on the other side
were disposed to liquidate. And there
were not wonting those on this side
°P* ne< J. that New' York hulls were
sidling In Liverpool. They seemed to he
selling here ns well, though appearances
may have been deceptive. However thnt
inajr be, there was more disposition to sell
than there wna to buy, not ouly among
American, but Southern, operators. It
looks very much like n purely traders’
market, and ns though anybody who tnkes
It for anything more than that will be
making a miscalculation which may turn
out to be more or less expensive, Ths
consensus Is that unless the crop receives
more,of a setback than It hns ns yet, tho
drift of prices will he downward, with
occnslounl upturns at the expense of a con
gested short Interest. In the meantime,
many are holding aloof, swotting tbe gov
ernment reports on the condition of the
crop and the ginning up to September 1,
which will appenr on Monday, • Henteml»er
10. at 1 p. m. and 2 p. m., respectively."—
(llbert & Clay. „
New Orleans, Sept. The Tlmes-Dom
oernt: “Yesterday’s cotton market was n
small affair, in part the result of the con
traction of apeciiJatfon with the approach
of two Important bureau reports. The In
ability of frlenda of the staple Co hold the
price In the face of rather ssnsrol cov
ering by shorts proved concluairely enough
that bearish suntlment. hns not yet run Its
course. As n matter of fact, liquidation
by longs depressed values Just r*-—" --
did fresh short selling.
about ns
—Hence,
wet weather
much ns did fresh short
tho logical Influence of _
map nnd the probability of bullish de
velopments next Monday, when the gov
ernment will give out a lot of Information,
foiled of effect. With Liverpool uot In
clined to father nn advance, nnd a goodly
portion of tho els-Atlnntlc tnlent favoring
the bull aide ,f« a quick turn over bu
reau day, consequential price changes dur
ing the remainder of »he week nre hardly
to tie expected p» th» absents ot a better
demand for the actual ■toff."—'Ware &
O O
O BANK 8TATEMENT8 O
0 v ARE CALLED FOR. 0
S By Private Leased Wire. 0
Washington, September 6.—The 0
0 comptroller of the currency to- 0
S day Issued a call for a statement 0
of the condition of the national 0
0 banks at the close of business 0
0 September 4. 0
O0OOO000O00O0000000O0000O0
TIPS FLASHED
From Wall Street.
Private Wire to Ware Sc Leland.
New Y’ork, fiept. 6.—London strong, %®
lc higher. Secretary Hhaw, In extending
relief through facilitating gold Imports,
should help the money market materially,
nnd look for easluess In rates.
There is very bullish talk on Coppers*
and good authorities maintain that the Ilnr-
riman Pacifies. Atchison, Ht. Paul and Hal-
timore and Ohio will work higher.
It Is expected that the ore deal will
he put through on Judge Gary's return
this month, and should the Bteel stocks
sell off any, would buy them. The mar
ket will probably be more or less Ir
regular, but look for good buying to ap
penr whenever weakness develops.
We hare Indisputable evidence this moriw
Ing that the Flower crowd are bullish oiv
Amalgamated. The Gates following Is lu It
also, but the Flower brokers bought the
stock this morning. The stock, heretofore
opposing it moderate advance, Is reported
to us as being removed. The way should
be open for 6 points up from 111, according
to our calculations, uuder the circum
stances.
Foreign buying of Atchison was report
, J to a big house by a specialist thii
morning. If was stated at the time that a
block of stock would have to be taken be
fore much of a move up could be forced.
Gates says looks like Heading Is going
up quick.
New Y’ork, Sept. 6.—Daniel
will
_ moral
It too far. as the money
■ght nnd not yet ‘
Mncntinll, Spader _
ket will probably l»c upward as
” of large gold
mar-
. result
Imporh
the fiscal year ew ..JHH
Ings 318.473.328, Increase 32.139.883; net earn
ings 38.031.960, increnso Sl.602.376; total In
come 38.356,SS5, Increase 31.574.176; net In
come after taxes and fixed charges 32,742.'
962, Increase 31,139,734. The net Income Is
ini to 6.09 per cent on the capital stock
the company. Deducting charges for bet-
...ments and a<“ , * ,--_ -
surplus of 32,162,1
those who knew the relief would come.
They were few. The government seems to
have entered Into the business of specula
The relief is In sight, but. not fit hand. In
timations of government relief Just of the
haracter extended have been persistently
give them n shave. We have always u>-iu,
that with money permitting, tho big bull
fundamentals would Irresistibly work for
higher prices, and at tbe same time said
there cou!d*be no serious declines even In
the face of high money with stocks and
money In the hands of the powers, and we
see no reason to chnnge our opinion. We
recommend conservatism still, Imt think the
situation for the dally operator a little
being governed by reason. The tiding
of the drain will mean thnt In the forepart
of the year money will he In supply amply
sufficient to enable outsiders to carry stocks
cheaply, comparatively speaking, and prlcea
should he higher, hut **“*
luenutlme many re-
LONDON 8T0CK MARKET.
Atchison
Canadian Pacific
Chic., Mil. and fit. Paul.
Heading
Pennsylvania
Southern Pacific
Union Pacific * ..
United States Steel
do, preferred.. . r„. .:
STOCKS OPENED
AT GENERAL GAINS
On the Advance Room Trad
ers Hurried to Take
Pi'ofits.
REACTION FOLLOWED
Buying While the Reaction
Was in Progress Was
Confident.
PRICE CURRENT CROP REPORT.
out of danger from frost 1m two weeks,
full acreage of winter wheat likely to
ho sown. Interior grain movement light.
MONEY ON CALL.
Money on Call: Open 20; high 23; low 6.
Hy Private Leased Wire.
New York, Sept. 6.—Tho professional
traders eaw fit to consider Secretary
Shaw's action in facilitating gold im
ports disappointing, and when the mar
ket opened at advances over last night's
close, they sold stocks In sufficient vol
ume to cause some recessions in the
first half hour of the trading. Here
and there, however, there were some
fairly aggressive buying by bull cliques,
notably in the case of Amalgamated
Copper nnd one or two other active
stocks which tended to impart a rather
strong tone to the general list, though
the advances were not up to London’s
Higher range. When the first call loan
was made at 20 per cent, and then fell
a few points, a fresh buying movement
started, nnd led by Brooklyn Rapid
Transit, thero were numerous recov
eries In prices. Heading soon became
the lender, scoring ji sharp advance
which held the list On the whole, the
market while active and in the main
strong, showed a narrower distribution
of business, always a symptom of the
outside Interest In speculation. Sen •
tlment was mixed, the money market
continuing to be the principal deterrent
to extensive committments on the bull
vide. At tho same time, the stock mar
ket gave every Indication that with
a decline in the lntertst rates, tho pools
nnd cliques would not find it difficult
to mark up prices and stimulate out-
sidu trading.
The stock market opened generally high-
reuterday ranging up to
Louisville nnd Nashville
V _ LittOI %. Brooklyn Rapid
Transit 1 per cent in nil; United States
Steel preferred *4; Baltimore nml Ohio,
Pennsylvania, Chesapeake nml Ohio %,
Southern Pacific % nml Delaware nnd Hud*
>n \ per cent. Amalgamated % higher
nd advanced In all 1% per cent.
After the atrong opening, the room hur-
..ed to act on the policy of selling storks
• : and the feature <*f the first
hour's trading wns general realizing of
profit!, and prices reacted from %«3 points
and most of It by Important, f
ests In the street. The losses on the re-
actions were easily recovered, nnd nt tho
and of the first hour shorts became nerv
ous and were anxious to cover, although
there was little supply then In sight around
prevailing quotations.
Jxindnn was the heaviest buyer In tho
first few minutes, arbitrage purchases nt
nd Just after tho opening being ‘
THE METAL MARKET.
By Private Leased Wlw.
New Y’ork, Sept 6.—Tin wns n shade
!o the bid for spot aftd near hi dell verb*
Spelter wns firmer st 5 points auvanc
Copper ruled strong.
SOUTHERN EXCHANGE
Oldest Established Office South.
CO nos STOCSS BONDS—GRAIN
Ground Floor Oonld Building. Dally
market letter find market manual
mailed on application.
Wheat
Corn 315 234
Oats 1M H7
Hoc* . . 20009 14000
PRIMARY MOVEMENT.
Wheat—tteqripts 4W.OOO hnahela. a*aln.t
760.000 taahrta laat year: ahlpmenta 431..
000 hnahela, agalnat 142,000 hnahela laat
y ”orn—Beeelpta 972,000 hnahela, a an In.t
910.000 hnahela Iiur year! aWpmeatt Ki
oto hnahela, agalnat 909,000 buibela laat
year.
L. J. ANDERSON & CO
Bankers and Brokers,
COTTON, STOCKS, 6RAIN
Correspondent’s Capital $250,000
REFERENCE. THE NEAL BANK
PHONE MIT. PRUDENTIAL BLOG
ftri, Heir Or/cisf.
COTTON^f&W, ^ROVIsToN^StoCKsPbONDS,
Ms. 2 Will Si., Filers Building, Atlanta. Ca.
utmtik
Mew Fsri Cetlea Eathange. Chicago Board of Tnde. *
Hew Orleans Colton Eichange. £ klc *)° ?t"f tuham
llreranet Cotton Atsocletln. Mew Vork Colleo Exchange.
Piltale Witts te Mew York. Hew Orleans, Chicago. B. C. COTHKAN, Manager.
Standard Phene 2Sk
Hell Phone 1262.
HUBBARD BROS & CO., MERCHANTS
Atlanta Offices. 219021 Century Building.
Members New York Cotton Exchange, New Or
leans Cotton Exchange, Liverpool Cotton Asso
ciation, Chicago Board of Trade, New York Cof
fee Exchange, New York Produce Exchange.
Business solicited for the above exchanges.
Direct wire service. Correspondence invited.
Phones 454, Long Distance 39. A.S. Hustace. Mgr,
3i % Compound Interest
Is the rate your money will draw If deposited In the SAVINGS
DEPARTMENT of
CENTRAL BANK AND TRUST CORPORATION
CAPITAL $500,000.00. CANDLER BLDG.
STRONG, SAFE, CONSERVATIVE
You are invited to call and Inspect our quarters and Investigate
our facilities to serve you. A hearty welcome awaits you at this
bank.
A8A G. CANDLER, President.
W. H. PATTERSON, Vlee Pres. A. P. COLES, Cathler.
JOHN 8. OWENS, Vlce-Pres. WM. D. OWENS, Asst. Caehier.
(T
ATLANTA NATIONAL BANK
ATLANTA, GA.
C. E. CURRIER, President. A. E. THORNTON, Vice-President.
H. T. INMAN, Vice-President. GEO. R. DONOVAN, Caehier.
JAMES S. FLOYD, Ass’t Caehier.
Capital $500,000.00
Surplus and Undivided Profits....... $500,000.00
We Solicit Your Patronage.
\=
MADDOX-RUCKER BANKING COMPANY,
CAPITAL $200,000.00
SURPLUS AND PROFITS . . $500,000.00
Accounts, small as well as large, invited.
3 1-2 per cent interest paid and compounded semi
annually in our Savings Department.
Safe Deposit Boxes
For rent in our vaults in tbe basement of the
Empire building for only $5.00 each per
annum.
Absolute Security and all Modern Conveniences
You should not be without one. We invite
you to call and inspect them.
Title Guarantee and Trust Co.