Newspaper Page Text
I
I
TIIE ATLANTA GEORGIAN,
flLSDAY, DECEMBER 11, 19CC
12
NEWS AND GOSSIP
of the Fleecy Staple.
Government Estimate Caus
ed a Very Decided De
cline in Prices.
TRADING VERY ACTIVE
Figures at 12,54(1,000 were
Above Expectations of
Conservative Bears.
OO00OOO000O00O0O0OOOO0OOOO
0
O GOVERNMENT ESTIMATES
O CROP AT 12,546,000. O
O O
O Washington, IJcc. 11.—The 4c- O
O partment of agriculture today O
O gave out a report estimating that O
0 the production of cotton In the O
O United States for the year 1906-7 O
O \va*» 6,001.726,000 pounds, not In- 0
O eluding Ilnters, equivalent to 12,- 0
O 546.0nn bales of 5oo pound* gross O
O weight. O
0 O
0000OO0000O00OOO00000000OO
New York, Dec. 11,—Hesitation character
ised the opening of the l(*onl cotton market
briny. Traders were disposed to nwalt the
puollratlon of the minus! estimate by the
crop reporting board. Taking the report
)*»»>'<} yesterday by the census bureau as a
basis, the trade figured that the estimate of
the erop report lug board would be between
12.000.000 mid 12.250,000.
<u»um huh u»e crop excecuu u,(
With thcffg government MtliMiti
of tho, way, the market might-n
to the other forces, which are nil
December. . . .
December .Innunr,
March-Aprll. . .
LIvci|m>o| this morning apparently
put the same construction on the gov
ernment glnners’ report as did the New
York market, as the opening In that
market was about as due on New
York's dose, part of the early advance
being Inter lost, closing barely steady,
4 to 7 points above Monday's finals.
Following is the range In the active
mouths In Liverpool today;
Onen. High. Low.
. 6.70% 6.72V4 r».7o
. 5.62 6.64
. 5.62 6.64
May-Junc*. . .... 5.65 5.674 5.63%
• Spots were In Increased demand,
spinners taking 12.000 bales at un ad
vance of s points, making middling
6.04.
New York was due to open about
unchanged on the Liverpool showing,
and while January and March started
the session at Monday's closing bids,
the remainder of the list was 3 to 6
points low er.
Trading began with the government
crop estimate, to be Issued at 1 o'clock,
Atlanta time, the Influence. Us esti
mate has been, covered very thoroughly
by the expert statisticians, and no mat
ter what the figures may be they will
come between the two extremes and
will be considered a factor for higher
or lower prices, according to the ex
treme figures It favors.
The government estimates It
the past have been considerably
under the commercial crop.
The following gives comparison* with the
three previous years: I .nut year, 10467,110;
lf«4. 12.1W.70U: 19U3. 9.962.037.
The romiuerrlnl crop hist year was 11.246,-
Ouri; 19M. 13,566.000; 1906, 10.011,000.
Thus the ngrleulturnl department Is shown
to hare nnder-cNiimnted last year 1,179.000;
1,403.200; 1903. 41,000.
The census bureau shows The total*
amount of rotten of the erop of 1906 ginned
to December 1 to hate l»een 10,026,446 hales,
counting round bales ns hnlf bales. The
total number of ginneries In operation Is
given ns 28,211. _
This Is compared with the figures of 1906,
when the report showed 8.689,663 bales
ginned nnd 28.600 active ginneries. 14.v
states the cotton ginned nnd the number of
ginneries were as follows:
Htates. Hales. Ginneries.
Alabama 1,019,473 3,693
Arkansas 670,398 2.293
Florida 60.300 207
Georgia 1.391.496 4.545
Indian Territory. . . . 287.136 534
Kentucky 983 3
I .out sin nn 670,896 2, OS)
Mississippi 1,018.272 3.699
Missouri 28,604 79
North Carolina 490.141 2,719
Oklahoma 276.613 m
Kouth Carolina 770.244 3,104
Tennessee 183.557 682
Texas 3.256.645 4,176
Virginia 10,1ST 116
The statistics of this report Include 41,156
■en Island bales f*»r 1906 nnd 81.G96 for 1906.
The sea Island cotton for it»06 Is dis
tributed by states as follows: Florid* 19,*
159. Georgia 17,190, South Carolina 6,167.
The government estimate of tho 1906
cotton crop wan flashed out of New
York exactly at 10 o’clock.
The flgurcH were placed at 12,546,Odd
bales, and the decline that followed was
sensational in character.
January, Immediately preceding the
Issuance of the estimate, was quoted at
9.85, in five minutes at 9.70 and In ten
minutes to 9.40. March during the
same time declined from 10.05 to 9.6$,
and May from 10.20 to 9.85.
8pot cotton In Atlanta, based on
New York contracts, is worth 6-8c low
er prices as compared with yesterday's
quotations, but based on demand and
worth of actual stuff prices are un
changed.
The New York market closed barely
steady, net 63 to 64 points lower.
Estimated tomorrow; 1906. 1905.
New Orleans ... .23,000 to 25,000 9.267
Galveston I6.0OO to 19.000 11,785
Houston 13,000 to 15,000 9,372
Movement at Atlanta:
Receipts today .. .. .. .. .. 961
Same day last year 641
Increase 320
Shipments today .. 1,333
Same day last year .. .. .. .. 550
Increase .. .. .. 803
Stock on hand today 16.836
Same day last year 8.907
Increase 7,929
SPOT COTTON MARKET.
Liverpool, stesdy; middling uplands 604*1.
Hales 12,000.
Atlanta steady: middling 10*4.
Sew York, steady; middling 10.5*1.
New Orleans nominal: middling 10 7-16.
St. Louis stesdy; middling 11c
Savannah quiet* ,A **
Ibis ton steady:
Houston quiet;
Baltimore nominal;
By Private Wire to Glbert ft^CIay.
New York, Dec. 11.—Liverpool at
12:30 p. m. 7 to 8 points higher, was
about as expected. On thta basis we
should open unchanged.
If the bureau Ignore the rensus and
estimate a crop on Its published acre
age and taking the lint yield at 206
pounds, which was the yield In 1904,
the estimate could not exceed 11,800,000.
An attempt is likely to be made to
equalize the basis and consider the
census ginning, which might result
In an estimate of 12,100,000 on a per
centage basis. I lean toward an esti
mate under 12,000,000, but ha^ no .
doubt that the crop exceeds tf.jftylWbr
‘ it$* $ut
respond
all bull- -
l*h. but I do not look for any material
advance In New York until after the
holidays.—C. D. Freeman.
Journal of Commerce: “Buyers are
having the very serious difficulty now
of trying to find substitute^ for the
lines they know they cannot get for de
livery before March. Borne of them
have found that possible substitutes are
as scarce as many of the lines they
usually cfirry. The legitimate strength
of the market is evidenced by the large
mall orders sent In, and the ,requency
with which houses are compelled to
decline them of* prune the volume
down. Under these conditions price Is
not the prime factor, and hence while
buyers occasionally rail against yes
terday's values they cease talking the
moment they can find the goods they
are after."
New York Commercial: “Profession
al speculators, as well as the publlo,
have been badly whip-sawed recently,
and most of them are playing very
close to the shore." /
I don’t rare what the government
estimate Is," said one broker, “but there
can be no natural advance until the
movement lets up. There is no getting
around the fact that the movement
Just now seems to point to a very
large crop. Of course there Is every
incentive to send the cotton along, but
If the crop Is only 12,000,000 bales the
movement should begin to decrease. ’
Bays another broker: “I do not think
the market can break much even on a
bearish report. Some people have been
ery confident that the government fig
ures would he bearish, and are heavily
short. I think that on a bearish report,
Instead of putting out more short cot
ton. they will reach for profits."
While the price 'of American cotton
Is going down the price of Egyptian is
advancing rapidly. A cable received
by Choreml, Benachl ft Co. from Alex
andria Baturday said: “Market excited.
£61 j Speculators attempting to efTect a cor-
r ner. Quotations 1 cent higher. January,
20 1-4."
New Orleans, Dec. 11.—Liverpool at
7 to 8 up Is a correct response and
should not change our opening.
The estimate today will he In hales
of 600 pounds gross weight, and Is ex
clusive of Ilnters, etc.
The consensus of opinions on today’s
report Is aroupd 12,260,000, but con
clusions drawn from yesterday’s small
census figures suggest that a*govern
ment estimate around 12,000,000 should
not be surprising.
The Western forecast indicates part
ly cloudy weather with showers prob
able in Louisiana, Arkansas nnd the
territories tomorrow. with colder
weather. Fair and warmer weather .'11
west Texas and Increasing cloudiness
In tho eastern part.
The Eastern forecast Indicates fair
weather tonight and colder, and Wed
nesday slightly warmer and fair.
Edited by
Joseph B. Lively
MARKETS
Mr. Llrelj's twenty-fire
years' experience of ed
iting market. In Atlanta
and the Botith tue roede
him * reeognlied au
thority lo bio opedalty.
TIPS FLASHED
From Wall Street.
RANGE OF NEW YORK STOCKS AND COTTON MARKETS
.N AME OF STOCK.
... Coast IJb* - - -
America* Sugar UttJ* . .
American LocooaqtlT* / ~y
iStjSg
v: .viwip^Mrfiiri
nerteon'eofi ra OIL .’ .’ .’ . ( 32 I lii ' 32 I 72
American C«< -
Ain. Car Foundry. . .
Baltimore ft Ohio. • .
Brooklyn Rapid T. • .
Canadian Pacific. . < .
Chicago A North w*o. .
Chesapeake ft Ohio. .
Colorado Fuel ft Iroa.
Central leather . . .
do. preferred. . • .
Chicago A Grew* W. .
Cbtengo. M. ft f*t. P. .
Delaware ft Hudeon. .
Distiller • Bee un flee. .
Erie .
do. preferred. . . .
General Electric. . . .
Illinois Central
Am. Ice Securities.
. *.»■*' * —TXI o-
. 197':,! 19* I 196$, 197
.211 211. 210 —
.1 68 | 69fci 68 j
. 57*41 C8$! 57HI
•1 36*1. Wit 3*941
, — f — jl im *' lmSf i*H41 life
46*| 45%| 45V! 45% I 45
76 ! 75% 73% 75%; 76'
163 ! 162 162 161% 162
! I I 175 j 175
- - - - —
GINNERS’ REPORT
WAS A SURPRISE
Ne\y York, Dec. 11.—The glnners* re
port of 10,025,000 bales ginned up to
December 1 took very many by sur
prise. ft Ih true that some estimates
hod fallen below 10,000,000 lmlos, but
not very many people were ready to
accept them. Bulls themselves in some
cases seemed to think such figures too
good to be true. Unfortunately, com
parison cannot l»e made with the same
period two years ago, ns the report of
tho ginning up to December 1 was not
begun until last year. The tidal ginned
up to December 13 two Fears ago, how-
ever/was 11,971,477 bales, nnd to equal
that total this year there would have
to l>e ginned 1,946,032 bales, or at the
rntc it over 162,000 bales, which would
be far larger than any ginning wit
nessed In years, if Indeed, It was ever
equalled, nnd that nt a time, too, when
ginning generally decreases ns It did
In December, even In the high record
year of 1904.
Today comes the estimate of the crop
by the department of agriculture. The
crop guesses based on the ginning fig
ures published were very generally 12.-
000,00o to 12,600,000, though some were
us high as 12,500.000 to 13.000.000. (t
should be borne In mind tha» the gin
ning figures are probably Incomplete.
Director North nu.de that plain enough
in a recent announcement. There is
Indeed a great temptation to withhold
returns for the probable effect on the
market. Making every allowance for
this partial suppression of the facts
concerning the ginning, however, hulls
are lm lined to think that the crop can
not greatly exceed 12,599,000 at the
most, nnd they maintain that the
world's consumption will he fully as
large as that.
New Orleans, Dec. 11.—The Tfmes-
Democrat says: .
"In the digestion of the glnners' re
port showing 10.025,900 bales pinned to
I>ecember 1, bulls derived some com
fort, but neither faction acquired there
from much fresh ambition for the good
reason that today’s quantitative esti
mate may undo any opinions yester
day’s figures may have inspired. Uon-
sequently the cotton market lacked de
cisive tendency, even though u fafrfy
substantial advance was scored on the
showing made. Bulls figured the av
erage dally ginning* as 54,000 bales less
dining the period from November 14
to December 1, than during the period
from November 1 to 14, whereas the
falling off during these periods last
year was only 13,000 in the average
dally outturn, and thereby stressed the
argument that relatively less cottor
was available to the gins. Bears, on
the other hand, could not see the thing
In that light at all, und stuck to old
standards of calculation. Aside from
the more or less meaningless glnners*
report, which Liverpool may construe
radically this morning, actual cotton
merchants rep* rtecl a continued heavier
demand for supplies than they were In
position to meet. It Is believed that
the combination of circumstances
which have removed the arbitrary dif
ferential of ten points against north
and central Texas t n local shipments
of cotton to New Orleans may turn
some Lone 8f«r State cotton this way.
Missouri Pacific.
95%!
26%
94%j
94% I
91%
NAME OF STOCK.
N. Y.» Ont. ft Western
National Lead. . . .
Northern Pacific. . .
New York Central.
«n£;{$d8$f
do. preferred. ....... .fL2SL^.'.....
u.ii ' ill' ii
d Steal Car
ricisW."?'.:: t::
Reading. ........
Republic Steel
Rock Island. . .
do. preferred
Red 8tato3 Bi
da preferred
Southern Pacific,
southern Railway
do, preferred. • •
$ loss -Sheffield. . . .
Venn. Coal ft Iron. .
Texaa ft Pacific. . • •
fnlon Pacific. . • ...
t'nlted States Steel.
do, preferred. . .
vs.-Car. Chemical. •
do. preferred. . •
Vcstern Union. . • •
Aaimsh
do. preferred. .
vtsronalo Central,
do. preferred.
Total stock anh»q t*xlny l,l09,20u share*
NEW YORK.
Tho following Is the range In cotton fu-
turoa In New Yr-*-
Closed barely steady.
d
l
O
High. |
k
11
i
it
tv
r>pr
Jnn
F«*b
March. . . .
April. . . .
May
June
July.. . .
June
9.921 9.93
to. toko. 10
9.50 9.54
10.27 10.27
9.75 9.75
10.38 10.38
9.6C: 9.66
9.33
9.40
9.50
9.60
9.69
9.65
i ’blit
9.66
9.38
9.48
M0
M0
9.69
9.77
i 9X
9.66
9.35-881 9.98-99
9.47-48IIO.IO-U
9.56- 58 10.19-20
9.56- 58,10.27-28
9.69-71 i 10.33-35
9.77-78) 10.4L-42
9. Kl-Ml 10.44-46
9. #4-8$ 10.48-49
9.66-67)10.30-32
NOTES ON GRAIN.
Pointers on Provisions.
By Private Wire to Glbert & Clay.
Chicago, Dec. 11.—Our foreign cables
are firm, and the market has been
steadily Increasing In strength with
much bull help. The supply and de
mand position Is so healthy that we
look for a quick advance once the mar
ket gets fairly started.
Provisions opened lower on genera!
selling by commission houses and only
moderate local buying. The feature »f
the market was the purchase of 1,000,-
000 May ribs by a commission house.
Chicago Chronicle: "In nil the mar
kets of the country good wheat Is com
manding a premium over December.
This is especially true In the North
west. where tho big spring w'heat grind
ers are located, they pay I nig nt Minne
apolis above May prices for No. 1
northern spring, either spot or to ar
rive. . This suggests the Northwestern
crop is not as large as formerly con
templated, the opinion being empha
sized by the fact that the Northwest
has bought of the Southwest some mil
lions of No. 2 hard wheat. The flour
trade In springs is not good, but in
winters It Is very fair. The car situa
tion Is yet had, curtailing both receipts
and shipments at .tfrmlnal centers.
Should speculation revive, of which
there Is now some promise and alw’ays
a possibility. It would no doubt help
vulues. But visible stocks are so large
that without a materially increased
speculation and Improved shipping and
export demands these visible stocks can
not In the natural order of things prove
but.a weight upon values until they are
reduced to a normal.”
Evening Post: “Minneapolis wired
Pringle, Fitch ft Hankln: ‘Manager of
large elevator here tells me their re
ceipts of oats at country points so far
on Gils crop are about half of w’hat
they received last year up to the same
time, and that the quality this year la
very poor.’"
Broomhal! cabled: "World’s wheat
shipments for Monday will be about
10,000,000 bushels for the week.
LIVERPOOL.
The following figures give the opening
■ange and close, compared with yesterday:
Futures opened easy.
Opeulng
flange.
)ec. .... 5.70%-5.72 6.72% 6.70
lec. Jan. ... 5.64% 6.66 5.64
'an.-Feb. . . 6.62 -5.63% 5.63% 5.61
6.62%-6.62 r
5.64
-6.67%
-5.68%
Previous
?lo«
6.64
&
5.55%
5.56
5.67%
Closed steady.
5.61
6.61
6.63
5.67% 5.63% 5.59%
6.66 5.60%
5.70 6.67 5.61%
6.60 5.54%
BULLS AND DEARS
EOUALLV DIVIDED
Results in Narrow Fluctua
tions in the Prices for
Wheat.
Chicago, Dec. 11.—Wheat closed 1-4
@>3-8c lower for the day. Corn, 1-4#
1-2 off. Oats, l-8<0>3-8 lower. Provi
sions, 10#30 cents lower.
Cash sales were 18,000 bushels of
wheat, 600,000 bushels com and 90,009
bushels of oats at Chicago; 6 loads of
wheat, 3 loads of corn, and 50,000 bush
els .oats.
There was more or less talk of an
elevator raid In the wheat pit. No. 2
hard winter wheat Is 76c btd at Minne
apolis with ^ rate from the Missouri
river of 9 3-4c, while No. 2 hard winter
was offered In tho pit at 73 l-2c and
the rate from the Missouri river to
Chicago Is 10 3-4c. The trade was at
a loss to account for this showing.
There was good buying of May wheat
below 79c by the Northern Grain Com
pany and the St. Anthony people, the
latter the Chicago branch of the Wash
burn-Crosby milling concern.
Primary wheat receipts 959,000 bu*h-
els, corn 556,000 bushels, compared with
726,000 bushels and 1,059,000 bushels,
resi>ectively, a year ago.
Clearances for the day, 174,000 bush
els of wheat, 71,000 burfhel* of corn and
7,400 of oats.
CHICAGO GRAIN MARKET
for today
Open.
34%
36%
33%
41%
34
m
15.77%
16.03%
78%
42%
on
33*4 33*4
WHEAT—
Her. .. 74*4
.... Slay. .. W
hlch’Europe will take about 8.800.000 i • , 'to n v._ :s ‘*
bushel*. The Actual ehlpment* Inst 1 |,. p 4.7
week w ere 10,418,000 bunhel* anti tho»e j j|„.' "
of n year HK‘> 12.782,000 bushel*, The j July. .. 44*.
ehlpment* from India thl* week amount OATS—
lit 808,000 bushel*, ngaln.*t 488,000 bush- 1 Hoc.
el* last week nnd 752,000 bushels a JJJjJ-
year ago." ' pottk—
King, of Toledo, says: "There will lie j n „. ..18.00
a meeting In Chicago next Tuesday to ‘ May. ..18.15
try ami establish uniform grade* ill l.AllL'—
grain for all the different markets. Big! I*?' i iii:
Chief Culver will bo the delegate from [ siiJKS . *
our exchange. The Grain Dealers' Nn- j,„. ..8.8214 8.4714 8.40 8.42(4 S.53
tlonal Association started the move- May. .. 8.55 8.55 8.45 8.47(4 8.80
mont. President floeman nnd Secretary j
Courcler will be there, also delegates : t'a.h Wheat—So. 2 red, 75'i®75»,: No. 3
from the different exchanges and mill- j d« t No. 2 hsrd winter, t4(4®77; So.
NEW ORLEANS.
Pec. . .
Jan. .
Fob. .
M a roll.
April. .
May.. .
Juno..
July
i 1»'
i
B 13
si
0
Ciogocl stoady.
9.71 9.91 9.91-9210.61
9.98 9.98 9.88[ 9.881 9.92 |10.56-57
10.53 10.54 9.85 ! 9.96! 9.96-97 10.69-60
! | 10.01-00 i 10.64-66
10.65il0.65i0.00il0.08 ! 10.08-0y|l0.71.72
| ! 10.1316110.76-78
10.76{l0.76ll0.30il0.30il0.20-22:i0.8S-S6
THE WEATHER.
LOCAL FORECA8T,
WEATHER CONDITIONS.
pant of tho Rocky Mountain* nnd proclpltn
tlon has boon general over tho pastern half
of tho map ana on the Paolflc const. Snow
la falling this morning nt Oswego. X. Y..
and rain nt Charleston, Rtin Francisco and
Yellowstone Hark.
Tho ores of relatively low pressure that
passed over this sootlon yesterday fs now
moving off the coast of North Carolina. A
second low of much greater energy Is mov
ing In over the north Paolflc eonst, pausing
n rnpld decrease In pressure nnd much
warmer weather over the northwest.
Today a crest of high barometer extends
front the northern lake region southwest
to Mexico. The advance or this high has
caused n general fall In temperature In the
south and nt most stations east of the
Mississippi.
The conditions tnvor fair nnd slightly
colder weather In this section tonight, to
morrow fair nnd warmer.
Minimum and Maximum Temperatures
and Rainfall.
Observations taken nt 8 a. m„ 15th meri
dian time.
By Private Wire to Glbert ft Clay.
New York, Dec. 11.—Marshall. Spader
& Co.: "It is quite logical to expect a
strong market today, with most Interest
centered Jn Beading, the Coppers,
Pennsylvania, St. Paul and Southern
Pacific."
Dow-Jones nummary: Americans In
London very strong, 1-2 to 11-2 above
parity.
Treasury gives $20,000,000 tft help
money market, half by deposits In
banks all over the United States and
half in redemption of government 4s.
• Pennsylvania receiving new can. at
rate of 160 a day, : and still ordering
more.
Washington begins' consideration of
currency reform.
Bank of England expects to meet
financial situation without advancing
the rate, and continues to obtain gold,
losing, however, on balance to the coun
try.
Return movement of currency now
due delayed by great demand tor money
at all centers.
Forty-two roads for the fourth week
in November show an average gross
Increase of 9.48 per cent.
Twelve Industrials advanced .29.
Twenty active roads advanced .35.
New York Financial Bureau: Infor
matlon on Reading continues bullish.
8t. Paul Is tipped for a further rise.
Fuel Is ready at any time, we think,
to bo raised sharply.
Union Pacific should, as before
stated, be bought on all soft spots.
We have great faith In the promise
of higher prices for Copper.
Anaconda is tipped for 300 again.
Vanderbilt houses are again bulling
Central strongly.
United States Steel Is exceptionally
well bought now, and could be raised
further easily.
Smelting met good support toward
the low limit, and can extend to 155
without opposition.
The Atchison stock Issue Is causing
hesitation In that stock, which we
would not buy except on reactions at
present.
Canadian Pacific should do better
soon.
Erie Is being bought by Morgan
houses. The Tractions must not he
overlooked, for tho shortage Is large
and the pool Is merely “In suspension.”
Pennsylvania seemed fairly well sup
ported now below 138.
Wo are favorable to Rhode Island
for turn. The big earnings of South
ern Pacific should cause some short
covering.
There Is no reason to change the bull
position on Louisville and Nashville or
Southern Railway.
STOCKS REVIEWED
BY NEW YORK SUN
IT ME*
Canadian Faeifift Had Sy U .
sational Advance of
Over 5 Points.
HIGH RECORD Price
Reading Was Persistent)v
Bought—S. O. Brokers
Bought U. P,
8.67% 8.67%
era’ associations.
Total stocks of wheat at Minneapolis
2.229,822 bushels. Including 810,518
bushels No. 1 northern, shows Increase
In the total of 373,126 bushels for tho
week. Stocks of flax week ago 132,023
bushels.
TODAY’S PORT RECEIPTS.
The following table shows receipts at the
Interior town* today, compared with the
■time day taat year:
NORTHWE8T CARS.
car* of today, last week
Last
Today. Week
Minneapolis . 342
Duluth 260 su
THE SUGAR MARKET.
41*)
New Orleans. .
<fltlV«'*tOU
Mobile
SitVituimli. . . .
Charleston. . . .
Wilmington. . . .
Norfolk
l!«>* ton
Philadelphia. - . .
San FartteUco. .
Port Townsend..
Jacksonville. . .
1893
6331
l<»14
Total t Incomplete).
INTERIOR RECEIPTS.
*lay last year:
ALONZO RICHARDSON & CO.,
PUBLIC ACCOUNTANTS
AND AUDITORS
Empire Building. Bell Phone, Main 858.
ATLANTA. GEORGIA.
which under previous conditions would
have gone to <Jalve*t°n. but the dis
turbed exchange market at New York
Is Indng reflected at Now Orleans In a
situation wholly unsatisfactory to« the
exporter of cotton. Some local bank*
ers are refusing to j ay men* than 4.77
f«yr sterling lulls, the lowest rate in
mgny year** Speculative interest was
not Increased to »my Iqirmrtnnt extent,
and today’s "filepa) crop retlmptc wiU,
therefore, lx* Jarcaly. dcf^ndem upon
fnt*!» a peculation f.r its* influence on.
No
far
Loudou beets steady.
WEATHER FORECAST.
Louisiana—Fair Tuesday; colder In south-
east portion; Wedneaday partly cloudy and
warmer.
Georgia—Fair and colder Tuesday, except
rnln on the coast; Wednesday fair nnd con
tinued cold.
West Florida. Alabama and Missiswipid—
Fnir nnd colder Tuesday; Wednesday fair.
Fast Texas—Fair Tuesday nnd Wednes
day: warmer Wednesday.
Arkansas—Fair Tuesday ami Wednesday;
warmer Wednesday.
West Texas—Fair Tuesday and Wednes
day; warmer in north portion Wednenday.
Tennessee—Fair nnd somewhat colder to
day; Wednesday partly cloudy and warmer.
MINING 8TOCKS.
Boston, Dee. ll.—North Butte L)9%, Arca
dian 8%. Copper Range 81, Mohawk 79. t’nll-
foruln und Arfxonn 162, Butte I'ollertion
36%, Atlantic 13%.
Ahliene. . . .
Amarillo. . , .
Asheville. . .
Atlanta. . . .
Augusta. . . •
Birmingham. .
nismarck. . . .
Boston. ....
Buffalo
Charleston. . .
Charlotte. . . .
ftiiongo. . . .
Cincinnati. . .
Corpus Chrlstl..
Davenport. . .
Dodge City. . ,
El Paso. . , .
Fort Smith. . .
Galveston. . .
Havre. ....
Jacksonville. . .
Kansas City. .
Knoxville. . .
Lo* Angeles. .
Macon
Mobile
Montgomery. . .
Nashville. . . .
New Orleans. .
New York. . .
Norfolk. ....
North Platte. . .
Omaha
Palestine
Pittsburg. . . .
Portland. Me. . .
Portland. Ore. . .
St. I/OUlS. . . .
St. Paul I in
Sun Francisco 4S
Savannah ! 62
Npoknne i 38
Tampa | w>
Taylor 38
Thoinaaville. . . • . 64
Vicksburg I 52
Washington 1 4>
Wilmington 58
T ludlentea trace of rain
In cush holdings In national banks
solo market factor this morning,
our market opened operators
New York, Dec. 11.—The Sun says:
The first loan made-on call was at
20 per cent, and almost Immediately
the rate rose to 28 per cent, holding be
tween 25 and 28 per cent, until renew
als were made at 25 per cent, after
which It began to decline until it
dropped to 6 per cent shortly' before
the close of the day’s business.
“Time money was. If anything, a lit
tle more stringent than nt the end of
lost week, for while the rates did not
rise above the highest quotation then
made, the outside figures were paid In j
most Instances. Up to the close of |
business no announcement was made j New'York" houses
of any action on the part of Secretory
Shaw to relieve the situation, although
during the day bankers freely ex
pressed the opinion that on account of
the stringency In time money relief
would soon be forthcoming In the Inter
est of the country’s commercial activi
ties. on the afternoon advance, which
was accompanied by an Increase In the
activity of the market, early losses
were about recovered In many cases,
closing quotations being In a few In
stances fractionally' above those of Sat
urday and some satisfaction was de
rived from the fact that what are con- | AimcimdaVr* *. U V*7
sJdered the special favorites of Stand• j Atchison. ’. \ *. ’. ’.
ard Oil Interests—St. Paul and Ana- j Baltimore ft Ohio,
conda—were among the strongest fea- i <jnmullnn Pacific. .
ias rumored that the dlvi- j l^Tuto Unnde.
tS4>OtJiWOi»WO<HKK>O<iO0Ocoooo
<J SHAW WILL DEPOSIT 2
O $500,000 IN ATLANTA, o
0 o
0 New York,.Dec. 11.—Seeretarv a
0 $haw will deposit $10,000.ni)y m a
0 existing depositories as follows: a
0 New York and New Orleans, $i.. a
O 500,000 each: Boston. Philadelphia, a
0 Baltimore, Chicago und St. Louis. G
O, $1,000,000 each; Cincinnati, Louis- -j
0 vJHe, Atlanta and Memphis, $50n.- p
0 000, and also buy $10,000,nun ,.f o
0 the bonds of 1907. o
0 0
O00000000O0000000000OOODOO
New York. Dee. 11.—The nnnoum*«*:m j,t
that $20,000,000 treasury funds will \»- r*n
tiered Immediately available for niony mar
ket use, hnlf through bond redemption and
half through direct deposits, was quin* in
line with what had been anticipated yi vt,
day. There was some quibbling in Kp«i*nla-
tlve circles over the fact that the money
Is to be so widely distributed instead of all
coming to New York city, but In higher
financial circles this objection was not «.•.
riously considered. It was contended n-.u
sonably enough that the Increases of g.n.
eminent bank de|»ositM in other purts of Mm
country would nt once react favorably mi
the local bank position by correspondingly
reducing the demands Upon this center from
correspondents In the Kouth and West.
1 Miring the remainder of the year Mii*
should have the effect of turning the inte
rior exchanges ill favor of New York, whieli
is the Important thing to see nceomplished.
Pall money on the news opened ut l" per
cent this morning nnd quickly dropped t,. s
per cent. In the early London dealing*
there was n very sharp rise in Amerlni i
stocks. Prices here failed to adjust them
selves completely to the higher level, and
there were repented evidences of h<aw
profit-taking, which caused cowsldcrahle i:
regularity throughout the morning. But in
the main upward tendency was well pre
served. $
New York. Dec. 11.—There was evidently
a scramble to cover on the present shorn
at the opening of the stock market, and ini
tial quotations showed general 1
Befm
hfl/f
stocks In large amounts in London nnd in
turn London bought fully 5fl.flflO slisres
IT|» »rt *».« of! around the room on the New York exchange
i p to the close °f I in the first few minutes. Philadelphia and
•eraistent nnd ag
gressive buyers of Rending, but thl* trai
met with such a large supply In thut M-sk
tlmt Its price renetc*r 1%, i The .'xtrem •
gain of the morning was made In rnnadisn
Pacific, which had a sensational ndvnnr**
of 5% to 198, the highest price at wnlrh tin*
stork lui* ever sold. Standard Oil broker*
buyers of l’nlon Pacific and St. I’anl.
LONDON STOCK MARKET.
STOCKS-
I Amalgamated Copper.
tures. It was
deipl on Anaconda would be increased j
when the directors took up the question | \j n ' preferred ...
next week, nnd there was reiteration »f I Great Western.’
the rumor about an extra distribution I Illinois Centrni
on Reading to account for the great I Kniiuaa ft Texas. . . .
strength that Issue displayed In the i jZV-imiT^vA.iiviiie ’
last hour. Satisfactory progress, It was Moij7a„ rental '
said, was made during the day toward New York Central*. *. ’. *.
adjustment of the labor controversies, i Norfolk ft Western. . . ,
which for some time have been the 1 Non hern Pacific. . . .
cause of uneasiness In Reading official & Western, . .
quarters.” (Jlbcrt & Clay. | iMS!?* it.Ww
! Rock Island
THE METAL MARKET. | g^rliera Pacific
New York. Dec. 11.—Copper strong. Tin ( ”' , J*thern # ICallway.
was up %c for spot and near-by deliveries
Hpelter nnd lend were a fraction liettcr.
do. preferred.
NEW YORK COFFEE MARKET.
Wabash,
do. preferred.
THE LIVE STOCK MARKET.
Chicago, Dec. 11.—Hogs—Estimated
receipts today 28,000. Market slow;
bulk $6,1506.30; mixed $6.05 6.30;
light $6.0506.30; heavy $5.8506.35; [
rough $5.850 6.06; pigs $5.5006.25; !
yorkers $6.2506.30; good to choice
heavy $6.250 6.35.
Cattle—Estimated receipts 5,500.
Market steady; beeves $4.000 4.75;
cows $1.3004.70; heifers $2.3005.10;
calves $5.5005.75; good prime steers
$5.5507.45; poor to medium $4.U0#5.50;
stockers and feeders $2.6004.60.
Sheep—Estimated receipt* 18,000.
Market steady; native $3.2505.85;
western $3.250 5.75; yearlings $5,600
6.35; lambs $4.7507.85; western $4.75
0 7.75.
LIVERPOOL GRAIN MARKET.
Following I* tho ononius rang, ami Villon 1‘n.lHo.
chute hi the New York coffee market for
today:
Opening
Range. Close.
January 5.35 5.35-6.40
February 5.40-5.50 5.40-5.45
March 5.55 5.50-5.65
April 5.60-5.70 6,60-5.65
May 5.75 5.70-5.75
June 5,75-6.85 5.75 5.85
July 5.85-5.90 5.85-5,90
August 5.90-6.00 5.90-6.00
September 6.05 6.00-6.05
October ... .6.00-6.05 6.05-6.10
November .. .. .. .. .. ..0.15 6.25 6.10-6.15
December 5.25-5.30 5.20-5.30
Closed steady.
.105% 104% 1-1
.119%!
.195% i9*% ::c
146% 146% 145%
28 i ■■
135% 135% 131%
95U 1
221V
49 -
139% 139
153%: 153% IP’s
31S!
94%' JOS
34%
94%'
184% 1M% i«2%
50% 50%; r‘ i
06 K,% !■'->
20%'
42% !
186%! 146*i
SOUTHERN EXCHANGE
Oldest Established Office South.
COTTON STOCKS—BONOS—GRAIN
Ground Floor Gould Building. Dally
market letter and market manuni
mailed on application.
C. E. CURRIER, President. A. E. THORNTON, Vlce*Pre«ident.
H. T. INMAN, Vice-President. GEO. R. DONOVAN, Caehler.
JAMES 5. FLOYD, Ae« r t Caehler.
Capital $500,000.00
Surplus and Undivided Profits $500,000.00
We Solicit Your Patronage.
Wheat opened unchanged; F:33 p. m./
» % higher: closed % higher.
Corn opened % higher; 10-.3*) p. in.,
higher; cniseil unchanged to % higher.
THE COFFEE MARKET.
New York, Dec.’ll.—The coffee mar
ket opened at a decline of 5 to 10
points, owing t.A disappointing French
cable*. Havre was thought to be due
to come about 1*4 to 1-2 franc higher,
and after showing an advance of 1-4
franc at one time during the morning,
was net unchanged at the hour of the
local opening. Later the decline here
wn* increased owing t«» the big ga.,
Paulo receipts foi the day and during
the middle session the market was
about 10 to 29 points net lower with
price* at the low |>olnt of the previous
day all of yesterday’s recovery having ■ Opening,
been lost. Receipts at Sao Paulo foe! Deceuilwr 3r"*“
CHICAGO CAR LOTS.
COTTON SEED OIL.
bag*.--Uibect ft Clay.
• ftakts, lw December0* Afe^Oeted steady.
HUBBARD BROS & CO.
COTTON
MERCHANTS
Atlanta Office*. 219-121 Century Building.
Member* New York Cotton Exchange. New Or-
lean* Cotton Exchange. Liverpool Cotton Asso
ciation. Chicago Board of Trade, New York Cof
fee Exchange, New York Produce Exchange.
Business solicited for the aboveexchanges.
Direct wire service. Correspondence invited.
Phones 4SI. Long Distance 39. A. S. Hti«*s<-. M<rr.