Newspaper Page Text
TEN
COTTON AND
GRAIN
AUGUSTA WEATHER
(Forecast. till S P m. tomorrow.!
Augusta and vicinity: Local thun
derehowem tonlKlit or Saturday.
Georgia Local thunder nhowtrn to
night or Saturday.
Weather Condition!
Shower« ocrurred during tnopaat
24 hour* in the middle and South At
lantic. nt.iti! and locally In the* ro l < *"
die and northwestern portion of the
South and over the central valley!.
No extremely hot weather la re
ported.
Weather Data.
Highest temperotun yesterday, si
degree-, lowest temperature thl*
morning. 71 degrees, - ,
Htver stage at S a. tn . 11.8 It.
Itlse in 24 hours ending 8 a m.,, '
Moon tonight: Seta 21 a. in., 16th
Relative humidity yeaterday. Ba. in.
k«; 12 3f p m., 77; 8 i> m . »*•
' . - i ■ ’Jf
*'augusta spots. J’™ j
IJSIS Si? KS SSKJ3J
AUGUSTA COHON
Close
Middling lair }J 5s
Strict good middling
Good middling * .. ..
Strict middling - :2
Middling .... ,'ofl
Strict good middling
l.ow middling . «on
Strict go. rdlnary
Good ordinary -
YELLOW TINGES— ,j
Strict good middling 7 78
tloo.l middling in -5
Stric t m (Idling
Middling ■■■■ % 7r,
Strict low middling 7 75
Low middling •
YELLOW KTAINS- nn
Good middling ~ on
Style t middling 728
Middling
Itl.fE STAINS- , M
Good middling g r.a
Strict middling 750
Middling
RECEIPTS AND SALES
Lft”t Thin
year wmH Sale*
Af\K 464 670 20i4
Saturday .... «« JJJ 2t5 1780
J,'" n,l " y eel fift7 7711 ll'WI
Tuesday ... |2S7
Wednesday .. 334 1fl «r,
rr h td"y m ' m
AUGUSTA DAILY
RECEIPTS
Last
venr Today Todale
Nel receipt..... *»» S “ ‘fJ.'JK
U ««
COMPARATIVE FIGURES
n r, ,pl u l h°Tw , “ , “ t , “ t :. 192 *.3«i.0i*
July 1 B*n. »»*»
»««.»»«
Stoclt" In August, iiiyij. 132, 102.880
Stock In Augusta July 10. IS2O M 90S
Middling thl! * #ar •• 41
WEEKLY CROP
MOVEMENT
1921
Receipt.
Shipmeni.
.•rop in sight': »»•«•»
Cam* in alghl
Visible supply 0,419..*38
Augusta Markets
•TOCKflk AND HONDA
(Comet*! »>y T u C%m »nrt Co
R R Rankin* Co ]JJ vi%
NkUnnal Bfrtiang# Hank *'
Mrn h»i.l* H«nk - •
Cttleene ®oMtlN , rn flank...2J*
fit kin Heatne* »*nk
Anfuaia NaHwpa Hank Jf* .
c««t*a Mitto— n ’; l a;™ 1
Auiru*U Fa**t"** . •-• •••• '
rrr.Wlw » . JJJ '-A
)» r K'n. MU r<> ... H -
Inn r Him Ms« On |»«frir*<t .IM JJ*
firanltevUte Mf*. Cm -•••••■• - *
A'blrv Mamifaiturln* Co • - JJ
Auautta anil Km H*** C« »•
mtvn"
(PiTf.ft.il »* An.l'm Hill and Co*
frt* h fruit*.
Oran**-* boaaa. fit** • « .
Grapefruit* -»•■••
AppW f*nry Wlnf-ap »"»**• * H
Um,m. fii.r.. »«»> 2
‘"’via'rTA.i.. ' ' ‘
rabbet* t»r eruat* » ;J n
TtirnliM. ll«>-III «*ek • *'
rnt«ln*B per IM-lb •**’ t ‘ ■7l
Onlnn* Tr*a* ‘*raie* *JJ
Lima h**n*. lar«* •• n : u
Lima bran*. !*•»• . -
VfOITARLC MID.
Corn. Tallow D-nt » JI?
Cam. who* nent :::
Pan* *red am»>er. b«»h*l i
Can# *##<l. nran«e hi»*b*l 1 u
FROVikION*
<CareertMl ky Hturphry a"6 Co.)
Flour. fancy I*l »**trnt JJ
flour. fancy *rlf rtalnt •
Cortiro**' i bwahrl *a«ka I*?
0*1?*. Jluiahal *a**V* ■
Whit** atv prr huahet •
Itarao feed #*ira quality. per ton «' *
l-tlh-t.n mr. IM.tttf. p*r u» JJJ 1
C P fee*l meal per ton ,s "
D P i»i*» J>
Compound lard 4
Mlititlln.. r.. «« IDtT - H „t '
Mlied aiori teed, pet ton fl 2 0»« 45 *
nat* Nn. S !*•* buMKI „
rnrn. No I. I«er h »*h#l
lilt N«. » Ttmnthe i*er J; JJ
Ka* No J alfalfa per t*m JJ
Hae. No t a salsa per JJ JJ
Phorta. *rar. per ton J'*
Ph ot. lewi. P*- ‘JO JJ JJJJ
rfctrfce* feed •*. W-*t per rtl. . M»i JJJ
Alfalfa meal, per ton 4 JJ JJ
rmtnttaeed P»e*l S I* < par t«<*.
tTvMTOC*
(Corrected hr Au««*t* Pu*ck Tarda'
CATTIJ& * t lb* • * •*»
eSSS ...• mt%\ rkisnt*
Ordtn.re ... 4 # Wconam-n J 2 J
n**4 I J It H Ordinary T J a
Fan.-* • • |V%. ... 2,J
HOOP iraney .. •
I'nett fed t» to IM »
State Bureau of Markets
mere tek'W ar* th.we which whole-a toe* are
r** '« foh T » arm# at p lfM net ahlpfwr*
drdu.t freight chi'gCi August*
Reeti it'litnrlk fgllow. t* r
grri cegir' % \ **
Irish potatora Nr«* N«* 1 Cohhiear* hMa *
Iri*l: r .d*uw« New N«> : r. M.>rg. fchto s*«
. .. . n rratruv IN itw IC.
field |*a« *
II ».k eye* peg* WhH
Hnmi m pr|i MnJ ”
Bm> 4<»r» • ”
Met<i gr. 4 »lu*. pound
Itooa’tra pound »•
rtlm. IH to t ll», jKutnil I’’
pound |
CmiPUf hotter theal table), p*n»nd .) 1
tVuitrv hotter tewohlng). m .. ...» 1
l*rt*4 *M*»e. l fc , . 1
Coni mnl i*er »« lb »a k ’**
IVti \& } ««h»t*l sacked. hi| ?*
(Ym Sn 1 lah tel Mihrd hlisbel ’
e*g»tng hat ♦*« ..... 54 nr
Liverpool Cotton
I.IV KRl’OOt.—an"> co*lon in «<*•<>
drmandi prl.'.i, r«»l.r
< >oo(l mld.tltr* » «*
Fully middling *,.««*••»••*••• *69
Middling ...i. *l9
Low middling '
t?<**d ordinary *l4
Ordinary ...... 1 IS
S4l**« 10.(KM* bale*. including h.atio
American Rwcel|>t» 4 000 bale*.. no
American Future* doped stead \
July *♦;
Oddber * * • •
December
January * *5
March *•**
Mav * * »•
Weekly col ion statistics
Total forward* i to w'lW .19. (kw hates,
of which American SJIIM Hindi 1 -
151 000 American Ttl.oou imp rtsHi •
not* A men tan 41,000, exports 4 000;
American 1 0900
BAR SILVER
NEW YORK.— Bar Pilver IVmeMir,
foreign, WVjp; Mexican dollar*.
=Financial and Commercial News=
N. I. COTTON
FUTURES
! NEW YORK.—The cotton market
! r.jiencd steady at an advance of one
to 17 point* In response to relatively
firm Liverpool cables and report* of
a continued good spot demand In the
EngllMh market. This bulge met south
ern hedge stdllng and realizing, and
after celling at 12.93 at the start-Oc;to
bor contract* eased off to 12,78. Prl
\ate cab»e* reporting that Manchester
spinner* of American cotton had In
; creased their running tint** from 21
! to 35 hour* a week and that spinners
of Egjptlan cotton there had discon
tinued the short time schedule,
cheeked this reaction, however, and
the market wan steady dQrlng the
middle of the morning.
11:45 a. m. bide:
July 12.28
October 12 98
December 13.41
January
March 13X8
Quiet but nteady.
Prospects for wet weather In east
•«rn belt sections with a consequent
Increat e f} l Inr.eoi damage encouraged
buyer* lataf In the morning with ac
tive month* *elllng 14 to 16 point* net
higher Offering* again increased
around the 13-cm)t level for October,
however with *orne hedge selling a*
well a* realizing for over the week
end and price* were a few point* off
Tram the best shortly after midday.
The Helling encountered on the
midday advance wax comparatively
light t.nd the market Inter was quiet
but nteady w’th October ruling around
12 92 shortly after 2 o'clock or seven
point* net higher.
High Low f’lo nt>
July 12 35 12. U 12.28
October 13 01 12 78 12.00
December 13.45 13 22 13.32
January 13 45 ]3 21 13 35
March 13.70 13.45 13 58
NEW YORK SPOTS.
NEW YORK.—Cotton *pot. quiet:
middling. 12.75.
COTTONSEED OIL
NEW YORK.- The cottonseed oil
nnrlu t e'esed strong
Prime Hummer Ye110w...... .$8.70
I’ll rue crude 7 25
,l.»|y 8.58
August 9.06
September 9 1 n
October 9.28
November 9.00
December 9.05
January 9.05
February 9.06
Total sales, 11,600.
SUGAR MARKET.
NEW YORK. Raw Migar. un
chatig't at 461 for centrifugal. Refin
ed unchanged at 6.20 to 6.76 for fine
granulated.
LIVE STOCK MARKET
UNION STOCK YARDS, CHICAGO.
The livestock trade did not have any
outstanding feature* Friday. If wan
a more or lews slow market for cattle
and sheep, but light hog* were active.
The high point made for the beat
light hog* Friday was $10.40. which I*
(he best sin* •• March 29, when top
hog* reached $10.60.
Receipts Friday were estimated at
4 000 tattle. 20,000 hog*, 8,000 sheep
and lambs, and 1.000 calves.
Cattle
Rest steer* were steady to strong,
but seUcra had few choice lots on
hand One V averaging L 326 pounds
sold st $8 85. while good yearling*
went at $8.4008 60. Cows were again
slow and most of the sale* were off
25c. Fanners at $2.000 2.25 for the
best, and cutters up to $! were steady.
%vhile bulls were quoted strong.
Calves held about like the low time
late the day before, when some deals
were an much as $1 below the early
prices.
Hoqs
Light hog* were active and values
were 1002t»e higher. Other grades
were slow at times, but here also Kc
market was higher. Sellers had more
than 10,000 hogs held over from .the
previous day. Rest light sorts went
at $10,300 10.40, the high point for the
week, while few tough packing hog*
sold below $8.25.
Sheep
Mote than half of the supply was
received by big killer* from other
markets, leaving only about 3.500 on
sale here. Western lambs at $lO 65
were steady, while packer* paid strong
values nt s9.?6<| 10.00 for native* \
small supply of aged mutton* sold
steady.
JACKSONVILLE CATTLE, SHEEP AND HOG
RECEIPTS
JA< K*<>NM 1.1.1: Kli Hug*: Receipt* light;
proaprrtv »lr»«b
i htil.-o limvv J $ 7 50mi 9 *on
Htmcb lie*vv A.oom rt nn
Light* 7 50$$ *?5
Heavy }>!«» T 50w * t*
Light p|f« T OQfll SOO
Cmil« l*ro«|N'ct*. wrsk
p», r 4 3IT * sno
IUiIU L 'Ottf 2no
Pirllnn ...... LMi l.es
Cim , 2 OfttA 4.50
V#*l .••!»/• 5 owtft* 000
Cannm 91 no up
NEW YORK CATTII. SMlif AND HOD
RECEIPT!!
MOV YORK Cattle No trading
raitn Steady
Vrair sanftt.T»lSVi
Culls T Witt *OO
Sheet amt land’. 1 reguar.
W«i in, et»ea 10° *• 9hn
Cull# ... • .... 5«»W' IW
lamia ... .. * w*. is mi
Cut to TO4C M«.
ling* M*’a.l*
Light to medium weight# » 10 AO
lle.ev ht<«* 10 00
Rnttaha f A**# T 0«
CHICAGO CATTLE. SHEEP AND
HOG RECEIPTS.
CHICAGO 111 -rattle steer*, year
ling* anti calve*, ateady; *he stock
slow to 25* lower; hulls strong. top
steers, $8.85; hulk $7 250 8 40 hulk fat
she stock. $4,501; 6 SO. ennnera anti
cutters largely $2 00 u 3 SO Hulk ho*
lognaa hull**. $5 000 5 65; better hulls
laritc,\ $6.Q0f?6.50. veal calves mostly
$1"
Hogs 15c to 35c higher than yes
terday s average; better grades ac
tive. others slow ; top $lO 40; hulk bet
ter grades $9 75010.95, hulk packing
sows. $8,600 9.00; pigs ptrong to 10c
hither; hulk desirable 510 00<510.15,
Sheep western lambs steady; she* p
and native lamb*, stead* to strom:;
Rood Idaho lambs $lO 500 10 65; bulk
desirable native lambs. $5751110 00;
l i *regon t w’o-'ear-gld weathers. $6 50.
light ewes. $5 oo heavy ami tndelum
weights. $3,500 4 55.
• COTTON MOVEMENT
PORT MOVIIUAT
Nr* tV.g h * Middling it!' rev Ptv SJST.
etl-ras N 5, aatrv I*?* ttarti 4'T.MJ
itgtreah n UlOd ii.g t:*',. rri-eurt.
s»l**r a Y ,p?o. «al*v Ms at mil W.l **o
Mni4le Middling. I«*f N. ie*-* it- t\
fwrta, J.\e aitvk 1* Ut
satavuah Mhhlluu* 11 «T recur* 1 *1».
et|»'*t» MM «»te PS *t»*ek HI 4IT
Chart**t •« Me«n*»ot*, 5iT slnek. il.N.ll#
W .• , Middling 11 ft*, re* i*t* ,VTS.
«*vk ?fASt
Te\« n*t M.*rk 15 MA
N. > a M l 0 **g 11 T.' iro. • * ItT, »itea.
at.<%. i
I* *» ; Middling It?' « k IS *w
l‘hu#d* idea bt.«ck »*i»
V «* \.*rk M ddlt**g tJ 4> il «t. ;>? m
'• n- *t-i*t» 1 iv . i. t Hi'
T- a ’ la* lA'e-.il*. lt 'T. e\|»*r t * || ||.\
gIiHA 1.411.1 M
T«»*#l f v « week geer p*#, ?! M? «*
•ft
T * r .• gw Bcertm*. 4YH.531. e>
INYFRTon MttVrMINT
M »»u*g i? ‘ ‘ rrwiirt* N tt?
•went* MU’ .#te« Wto *t -A. ?TLfT“
At tiCSTA At i .. 11 ?! <ev tpt« t l.
*hawsent* t l«« -tie* ». *t***k P’sy-Ii
**• i uu At tiMg i. *' J?:r.
Atlanta Mm: na u
lattto R v Mi '.t'mi is ?*. r».*, • •*. ?l»,
ah'fweetita, #IT *a lea. 11}. awk >? tM
ball** M dd' ng IS m *#lea, l,?tJ
M-wgatn MtddC’ t I*?! ail*' M
Tot#! t**da* Reerti* a $ PIE vhtrment*. li.TM
• prt
N.O. COTTON
FUTURES
NEW ORLEANS.—More liquidation
from the long side was felt by the
! cotton market Friday, around the
opening, but declines of five point*
represented the lowest levels reached.
Better cable* than due. the action of
master spinners in England In in
creasing mill work hour* and too
much rain In the northwestern sec
tion of he cotton region worked for
steadiness so that at the end of the
first hour of business price* were
seven to 14 points higher than the
dose of Thursday, October traded
down to 12 33. and reacted to 12.45.
11 a m. bids:
July tanked) 11.90
October 12.53
December 12.84
January 12.95
March 13 09
Quiet.
Weevil complaint* from the eastern
belt Increased demand for contracts
and the market rose slowly on it.
Ktundmg toward 11 o'clock 16 to 19
points over the level of Thursday’s
• •losing. October went as high as
12.66
In the late trading th* market lost
much of if« earlier steadiness and It
looked ax if buyers of the early hours
were letting go. Toward the close
price* showed net gains of but five
points with October at 12.43.
GOtton 4fdo*ed steady at net advance
of two to twelve point*.
Open High Low dose
July 11 96 1 1.79 11.74 11.68
October 12.60 12.50 12 33 12 43
December ... 12.93 12 86 12.61 12.74
January 12.98 12.97 12 79 12.86
March 13.14 IJ.IO 12.92 13.04
NEW ORLEANS SPOTS.
NEW ORLEANS.— Spot cotton
steady, 13 up. Sales on the spot 747
bale-., to arrive, none. Low middling
9.88; middling. 11.88. good middling,
12.88. Receipts, 1.769; sock, 450,276.
GRAIN-PROVISION
QUOTATIONS
CHICAGO—Wheat gave a good
account of Itself Friday although for
a time the market appeared weak.
The start wa* lower but heavy buy
ing bv bull house* resulted in a sub
stantial upturn. For more than an
hour selling of September at $1.33 on
resting order* wa* encountered and
this encouraged profit taking by long*
Just before midday bouse* believed
to be acting for Livermore, the big
eastern speculator, took an Immense
quantity of wheat and forced a bulge
to best levels on the top for deferred
months.
Fooler weather was rejmrted over
the northwest and the drought In
Great Britain was reported broken.
Seaboard reported that United King
dom resold 400.000 bushel* of wheat
nt 5 to 10 cents profit. Receipts were
heavy In all positions.
Corn also had a better tone owing
to the strength in wheat.’ Strong lo
cal Interests picked up corn on the
early break while pit traders were
all committed to the long side. Sell
ing was scattered. Local receipt* were
moderate. Weather (fa* more favor
able for corn, cooler weather and
beneficial showers being shown In
many parts. The decisions of the di
rectors making car loth (m track de
liverable on will aid the
cash position. Y'es*el room for 1.000.
000 bushels of corn to Montreal was
chartered over night.
Oats were the strong spot on the
list. The low prices recommended
the purchase of oats In view- of the
heavy damage to quantity and quail-i
ty. Receipts were light Cash oats
were slightly easier In tone. Cash de
mand was slow*.
Provisions. Higher hogs. »he ad
vance In grain and the good cash
demand made a strong situation In
provisions*
Liquidation by July longs gave that i
market a wheat close while the de
ferred wheat deliveries were higher
<*n buying by these longs who were j
reinstated In the deferred months. 1
Wheat closed IVjC lower for July, at ;
sl3o%<h 131 while ’nter months were
■\«‘ to 1%0 higher; September $1.33#- i
I.JtVi; December $t.37«/136%.
Corn >4c lower to V up; July 63- i
V"6:r%e; September 62c; December l
61060%e. |
oats V t.o lHc higher: July 39140;
September 41M,<Q41 V; December. 43* ;
•V'M3%c.
Pork closed 25c higher; lard 32*4-
042*40 higher and ribs 17*4#22Vic i
higher. I
Local cash sales were 206.000 bus., 1
of wheat including 200.000 bushel* to j
exporters. 15,000 bushels t»orn and
91.000 bushels of oats. /
t’HICAOO, 111. —Wheat ndvancpd
Friday to tlie hlghnst prices which th*.
September anti Prcembtr deliveries
have yet touched this season. Open
ing quotations ranged from one cent
to 2 Vic tower.
Torn opened h*c to tower.
Oats started 'jt’ off to a like ad
vance.
Higher quotations on hogs gavn
firmness to provisions
Wheat closed unsettled \c net low
er to Cc advance
Torn closed unsettled *4c nst low
er to half cent advance.
FUTURE CLOSING PRICES OF
GRAIN AND PROVISIONS.
WHEAT—
Ooen High Low doss
Sept ... W\ m\ 1294 1324
TV.- 133 MS 4 123 13«\
CORN—
Sept «m *2v; *l4 62
Dec 594 HI v. 594 HOT 4
OATS—
Sept .... 404 41 \ 404 414
Dec 43 4 414 42i. 43\
PORK—
July ... * U 65
Sept . IS*O 1875 1860 1875
LARD—
Sept 1172 'I2OO 1170 1195
Oct 1185 1210 TlB5 1207
RIBS—
Sept 1100 1117 1100 1117
Oct 1100 1110 1100 1107
Ohlcago Cash Grain
I'HhWC.O, HI Wheat No 1 hard
• 1.H1Nf11.31; No 5. hard, ft 34' TT -
1 SRH
t’"in No 2 mixed R'!(h <*S V*c; No. ?
yellow. 45V*ff5S\ic
Oats \ 2 white. 3SVi<f4oc; No 3
white. sU;(ntSc,
five, No 2. $1.31 Hit I f3S ; harieA*.
TOff 75c Tlm.'thv .eed. $( 3003.00;
clover seed sl3 004113.00.
I’ork nominal: lar«l 3t1.15tT1l 00:
ribs. $10.75011 50
STOCKS EX-DIVIDEND
Pate C'wiw v Per cent
ia?*ft ' c 1*
till* IV- AM'rd Phirm #»*d Pye Ci*rp . . \
Jn>* H Am *hf‘.id t\. *\ rttra l\
>.i•* n- p nfd in
In* 1A 'm S'lrngtr# Tnhaeev* 5
t'Mv 4**r* Pr* «;•* da Con* 1
}»dv i%—Pt'a’d'r Bgftnin* «•* r*fd t\
ltd* 1A no.-a - P’-mmatte Tool Co t
!'*** IA- C n dat.d Coal Co IN
n.»v tv CewMhto steel of Am 1
»nhr H »am t.. P a*.** l4*k* (V r*d ?
» *IA M l M Car * -r N
»■!'* IA I * At, Vint.. W.l I
t-dr l' Kelt* Worm- Ttr t V « Mfe N
»*d* tA lima I-* mo**tre \V. *V* **f«| ..IN
’ t« Uv,.f W!!« m#ew* «d nfd I*,
» t* t | , *l. a i \g.»,*| w R It Aig
’ i‘e IA- 't.h.’n C. % * ■• A
»■«»» 14 *Vr- Ma-M.ro*. K«> (tfd IH
’■ '» Ik -Neg.pn* t *>***pawv 1
* i»* ** a ««i t»* rrh v ? .s**r« 4??t*
s t. ii tham <; * .
d'de *J.pvrt<f «teel Porn »i
*•»**> *\ t nl*-| 'oh* iv jy t ... %
lu'* t.A t s Rid ler l*t |g t | $
Produce Market
CHICAGO PROOUCE
I’Mit'ACiO. 11l Potatoes, stronger.
V t ? > '"• a. > .ty t'M North Paro
ling white ro*e sacked $2 70 cmt.
i —— - —*
PORT RECEIPTS
NK\N YORK vrt r#ct pt» I '• *
Tnited state# 1.74* 741
IHE AUGUSTA HERALD. AUGUSTA. GA.
Prices Held Within a Narrow
Range Duriug Listless Session
Small Volume of Business
Transacted Owing to the
Usual Summer Apathy in
Trading
NEW Y'fjßK—-Business on the stock
market registered the low ebb of sum
mer apathy as Indicated by the vol
ume of transactions and price chant,'* «
: among standard stock* were in ktep
• ing with these stagnant conditions,
I holding within narrow limit* but
1 speculative issues of steel, oil, motor
and the equipment groups were sub
ject to wider fluctuations under pro*
texbional pressure.
Mexican Petroleum again asserted
its leadership, both as to activity and
irregularity of movement.
Its extreme range of about five
points eliminated in a net loss of 3%
points.
Oils and the general list were at
lowest levels In the later dealings.
Specific, instances of /W eakness In
i eluded Western Union Telegraph, at
I a net loss of 514 points; also Crucible,
Bethlehem and United States Steels,
I General Electric, Chandler Motor and
I Sumatra Tobacco.
Malls of the better type moved
within a small area, but eased Ir
regularly at the close.
The money market repeated Its
course of Thursday, call loans hold
ing at six per cent until the final
hour, when 6*4 per cent was AW.id.
The six per cent rate for time loans
was sHaded to 5% with liberty bonds
as collateral, but time accommoda
tions were limited to short periods.
Dealers reported very light opera
tions In foreign exchange. London
and the continent again reacting in
favor of this market. The proposed
German credit by American bankers
for purchases of foodstuffs and other
raw material* effected no material
change in German or Austrian rate*.
The feature of the bond market
was the ready sale of the new state of
Michigan 20-year 5% Issue.
Liberty and Victory issues were ;
firm to strong, but rftlls and Indus
trials again lacked a definite trend.
United Kingdom 6*4* and Belgian
B\s featured the improved tone of for
eign bonds
Total sales, par value. $10,775,000.
STOCK EXCHANGE
QUOTATIONS
NEW YORK.—Speculative shares
again reflected sharp pressure at the
opening of Friday's stock market. In
the early dealings losses of one to
two points were registered by Cruci
ble and Bethlehem Steels, Harvester,
General Electric, Samatra Tobacco,
Houston Oil and Famous Players.
Other steels equipments, oils and mo
tors were lower by fractions to one
point, and Western Union Telegraph
extended Thursday's severe decline.
Foreign exchange was reactionary,
the London rate approximating the
recent low quotation.
General Electric, American Woolen.
United Fruit and Wilson and Com
pany were th*» chief objects of bearish
attention at midday, showing losses
of lVs to nearly thre«- points. Mexi
can Petroleum sustained a reversal
and United State* Steel was heavy.
The closintr was heavy. Sales ap
proximated 375.000 shares.
Midvale S’e 1.. vl'4l
I MtMourt par ll»«4|
IS Y Ceucat iig>4
IN 3’. 1 M and H 17%
I Norf and Weatern »*
(Northern Par 71
j Invlndhh Oil 10%
Oklahoma Prod and
Refining 2
I Pan-Am Petro 19
People** Gas 50
[Pitta and W Va . 27
l Ray Cnnaol Cop... 12%
l Readinjt 6(1%
| Sinclair Con 011 20
Southern Par. 75%
Sou Kwy 19
S amlarU Oil of N
J pfd. . 106%
I Studehaker Corp .. 79
I Tenn Cop 7%
Tex a* Co 33%
|Tn and Pae 22%
Toll Produet* ft| '*
Toh Product* 54 '*
[TraWon (Ml 7\
I Villon Pan 117%
t S Food Prod Hmk
V S Retail Store*. 53
l’ 8 Iml Ael 49%
I V 8 Ruhher 49
|V 8 Steel /?. 71 %
Utah Copper.. .. 17%
I \Ve*tinchouse Elec. 41%
Willy* Overland... 7
Fur* Oil. 25%
I A C L *l%
Coca-Cola • 29
Gulf States Steel.. 30
|8 A I- 5%
S 8 8 amt 1r0n... 31
ll'nlted Fruit l“3 l 4
Va-Caro chem. .. 25V
lAm Tobacco 120%
lAm Zinc s'*
I Gen A*pha!t ... 49
Lut *»H
Allis Uhalinpri . . SI
An. !M Sugar. , 27*4
Am Can 2554
Am Car an<l Frv 1 .'3
Am II anil L pfil. 5044
Am Int’l Curp..
Ain Loromo. sn
Am Smt am! Ref.
Am Sugar fill'4
Am Sumatra Toh. 45N1
Am TH ami Trl.l»SV4l
Am Won ten n; I
Anaconda Copper. 37 T 4
Atrhisnn
All. Otilf ami W I -.*3V
HaMwin bummer 7V*!
Haiti ami 0hi0... 37
Heth Steel H . 45V4i
Canadian Pa« . inn 4.
Cen leather 35
Chandler Motor*.. 40*4
I'hrsa and Ohio.. 51H 1
Chi. MU and St P 25V4|
Chi. II I and Par- 30»*|
Chino Copper 22V
Colo-ado Fuel and
Iron 2«H
Corn Product*.... 64V
Crm-lhle Steel.... 52J4
Cuba Cano Sugar.. 6'*
trie 12V
tieneral K.lec 120 V
C)i-ti Motor* \n\
floodrh-h So '.aV
Gt Northern pfd fl7 : *»
Do Ore Ctfl fffi
Illinois Sen . *V
Inspiration Cop 33'*
Int Mer Mar pfd. 44
Int Paper 31
Kennecott Cep.
iouls and Nash.Jl«>b
M»i Petro 103*4
Mlafl Copper «»V|
Midtile State* Oil. 11
New York Bomb
.111 Cm ref 4a . 71V
j lot M. r Mar 79\
■ Kansas city Sou
; r.-f b 7541
|LI r and Mvera s*. aa',
• L and N un 4a. 81
1 Missouri. Kan and
( T.*xa» Ist 1a .. 61
'Mo Pac *en 4a.... 534
i N Y Cm deh 9s 904
Norf and Weatern
: rr 9s !ni\
• Northern Pan 4s . 75%
j Penn am 5s «l%
R-’* I'na fm 4a 71
Rrp Iron and Steel
5s 1940 91
; tft Ixtuls and San
' Fran tdj C<**
|R 5 T. adj 5s ... 75%
| Sou Bell Tel 5s
Sou Pac »•* 5* ... 85
Sou Rwy ss. . 59%
,Sou Rwy *en 4*.. 82%
Cnlon Pan 4% 80%
l td Kingdom nf Ct
Brit and Ire 5%* 85%
r S Steel sa. *i\
' Va-Caro Chem sa“ 91
| Wabash Ist 5s .85
Wllaon Co ct 9s . 78
T* S 2*. r*»* . .100%
t' S ?», rnupon .100'*'
V S 4*. r<*a PM 1 *
V S 4*. «*<>ui»>n. .PM l * •
Panama 3*. rr* . 7iS |
t*o 3a. coupon . 75 f
Am Smt am! Ref
'» T6'*l
Am Trl ami T*-l
c* A* H'lN!
At chi mii arn 4> . 7A ! *
A C I, l*t 4v , 7*»S,
R am| O r* 4l*« SM 7 h '
n«lh Picci erf 5« Ml I
Central of Ofunna
eon*o| 5» m_‘V
Cm '•%. $94
Che** ami Ohl«>
c* 5a tm
Chi. Mil ami Si
P ct «i 4« *s4'
Chi. R I and Tac
Rv rrf 4s
City of Part*
(U f'9 15-HI
Cidmado and P*>u
ref 44* 744
Ihiurr ami R*->
Grande tssn»t-' 4a C 34
Dominion of Can
5a 1981 97
Erl* |tn 4a 4.’4
Money and Exchange
NEW YORK —Prime mercantile pa
per, s*4 03Hc.
Kxchange. heavy Sterling fO-day
bills and commercial 50-day bills **n
bank*. $3 s*. commercial 50-day bill*,
$3 57-%. demand. $3.62 1 a; cables,
$3 53t 4
Franc*, demand 7.75. cables 7 SO
Belgian, franc* demand 7 61; cables,
7.62.
Guilder*, demand. 11.78; cables,
31 84.
Lire, demand 4 52; cables, 4.53
Marks, demand 1 S 3; cable*. 1.34
Greece, demand 5 40. Sweden de
mand, 2105; Norway, demand. 13 25;
Argentine, demand 29.12. Hrnsil.an,
denjand. 10.50; Montreal, 12\ per cent
dhirount
Government and railroad bonds. !r\
regular.
Time loans. steady; 6»a days. DO
days, six months. 6 per cent.
t*all money, firm; ruling rate, six;
hank acceplarce*. six.
U. S. SOVERNMENT
NEW YORK—Liberty bonds dosed:
3 V** $6 10
Ist 4* $7 12
Second 4* $6 $2
First 4ln s $7 34
Second 4V*r» S 7 02
Third 4N* . 91 16
Fourth 4k< a 7 jo
Victory S\* <»« 34
Victor* 4\s ss.B2
Yield.
Liberty
• Do Ist 4s, 19 47 500
1> Ist 414*. 1547 R. 12
ih> 3rd 4V#k. 1942 5 ;»
I\» 3rd 414 a. l??x 5 $5
IX* 4th. 4U*. 1938 5 10
Do SN*. 1853 4 ;*o
Victory 4%a. 1923 |?5
AID FARMERS
WITH $100,000,000
Federal Reserve Banks Al
ready Have Authority to
Make Advances, Says Gov.
Harding
WASHINGTON Federal reserve
banks situated in cotton producing
sections already have authority to
advance one hundred million dollars
“or more. If necessary,” upon cus
tomer paper secured l»y warehouse
receipts for cotton. Governor W. P.
G. Harding, of federal reserve
board, Thursday wrote representative
Fulmer, of South Carolina. The di
rectors. In each case, however, mupt
be the sole Judges of the soundness
and desirability of the paper, he ad
ded. Mr. Fulmer had Inquired why
such loans could not be authorized
through southern banks.
' While the federal reserve banks of
Richmond and Dallas would be con
siderably below their required re
serves today if put upon their own
footing.” Governor Harding said,
"they are maintaining them by re
discounting with other banks and will
have no difficulty In rediscounting
such additional accounts as will be
needed. The federal reserve bank of
Atlanta has for some time maintained
Its required reserve without redis
counting with other reserve banks
although It Is quite likely that it
will be rediscounting within a .-liort
time.”
The St. Louis bank, the letter said,
has the strongest reserve of any of
the federal reserve banks in the cot
ton sections, and would have fio diffi
culty “in meeting any legitimate de
mands out of Its own funds.”
FORD PROPOSES TO
PURCHASE MUSCLE
SHOALS PLANT
Offers $5,000,000 For Nit
rate Plant, Equipment and
Lands
WASHINGTON—Secretary Weeks
announced Thursday night that he
would ask congress for authority to
accept a proposal Ivy Henry Ford for
acquiring the government nitrate
plant at Muscle Shoals. Ala., if the
offer was found to be “substantial.”
The proposal, which was transmit
ted by Secretary Hoover Thursday,
was on his desk, Mr. Weeks said
stating that he would begin the study
of Its terms at once.
Mr. Ford offers to buy the nitrate
plant, equipment and lands for five
million dollars and lease for one
hundred years the Wilson and Num
ber 3 dam, when complete at an an
nual obligation of $1,500,000. He pro
poses to convert the works into a
fertilizer plant, the profits of which
would be limited to eight per cent,
and to keep it in readiness for the
manufacture of explosives by the
government in time of war. If ac
ceptance of the offer is foifnd advisa
ble Mr. Weeks said he would ask
congress for authority to sell the
plant and lease the darns and for an
appropriation to complete the electric
installation on them. This work Is
estimated to cost twenty-eight mil
lion dollars and on this sum Mr. Ford
proposes to pay interest at the rate
of six per cent and to amortize the
entire cost of both dams over a pe
riod of one hundred years.
Discussions with Mr. Ford leading
up to the offer. Secretary Hoover said
were conducted by Assistant Secre
tary of Commerce Houston with the
approval of Secretary Weeks.
EQUIPMENT BONDS
(Quoted on Income percentage basis I
Name Ra*e Maturity. Bib A«k
Atl C I. «4 1922-77 700 9. fA
na” and Ohio 44 1921-27 750 6 7.5
Rath Steel 7 1921-30 760 700
Rost and A 4 4 1921-31 725 650
Bus R and P 4 4-5 i'* 'l-ni 7.25 6.50
Do 6 1921-33 7.75 650
Canadian Nat 7 1935 7in 690
Cr.ua.hail Nor 4% 3-0 1924 29 850 700
Canadian Tac r.'. 1921-3247 1% R 40
I>o 4 4 1921-2 M 7.15 640
C C C and St L ... 5 1121-29 725 r .ii'
Da R 1921-27 725 6.55
Che*a and »»l*i fi'** 1924-36 690 635
C RT and P 4U-3 1921-27 soil 700
Chic and N \V 4*-, 1921 23 725 650
Do 04 1925-30 725 6'9
Ct St L an- NO 3 19**1 -31 723 65ft
lie] and Bud 192‘! 7.25 6 sft
Erie 44-5 1921-27 825 725
Do 6 1972-”8 809 725
111 Pen 4 4 192127 725 6 sft
Do f>4 1976 36 700 640
Do 7 19-5 35 7.00 640
Ktn Cm, Pun .5 P i-21 7mi 650
Louis at.d Nash . 5 lf-‘ , t -* , 3 T 25 A sft
Du 6U 19 '7-30 700 6 tfl
MS p and SS M 4U .5 1021 26 7 *J*> 659
Do 6% I«t*e-33 710 650
Do 7 19 *1 30 725 650
Mich Central ... 6 19 **-30 7.25 6.lft
N Y C I.'nee 44 192*»--'8 7 *'s 6.50
Do R R .7 1922 35 7.25 A. 5k
N Y (' anj Si It 44 1921-26 730 650
N s’. V It snd H 44-5-6 1921-75 *SO 750
Barf and W i' a !•; t 7on 675
Nor Pac 7 19 *2 30 7pi ft 50
P*m . .. 44-1 1121*23 715 650
Pitts and L Erie «4 19;t-36 710 635
Mr'Ading Co 4'• 19*1 •*? 700 650
Seaboard > * --5-6 1921 -77 R sft 725
Sou Pac 44 on 7un afn
Do 7 1971-35 600 6 Aft
Sou R«v 145 19**1 -"6 725 675
Cnlon Pac 7 1924 35 690 635
Dairy Products
CHICAGO riitter er.r. and
POULTRY RECEIPTS.
PHICAGO. 111.—Butter higher;
creamery. 35f?30>^c.
Fag*, easy; firsts. 2S4'ti29U. c; firsts
26027 c.
Poultry. nliAv higher; fowls, 30c;
broilers. 300 36c.
NEW YORK BUTTER EGG AND
POULTRY RECEIPTS.
NEW YORK —Butter, firm; cream
erv fir t*. 3S^4oVjc.
Fr«j*. weak; fresh gathered firsts,
34c.
Cheese, strong; average run. 190-
19* ..c
Live poultry, firm, broilers. 300 43c;
foAvl*. 33*'.
Pressed poultry. easier; western
ehlckens. boxes. 250 43*'
SAVANNAH NAVAL STORES
SAVANNAH Turpentine steady,
•lli: sale*, none, receipt*, 326; ship
ments 18 stock. lO.f.'AS
Rosin, firm: sales. 660 receipts, $62;
sh'nment* 93; stock 88 r*6B.
Quote H $3 65 D ?'7 F G $3 75: H
II I • f K H If $4.50; N $4.71;
WG $5 WAV $6 35
JACKSONVILLE NAVAL STORES.
JA< KSoNVILLK. Fla —Tumentlne.
firm. •0011 He. Sales. 497 r^,’»»ipts.
223: shlpnvnts. $80; st.v-k.* 21 661.
Rosin firm sales 199 receipts. 901;
shipment*. S'S. st.mk 174,061.
Qttote- n n 43 60; n $3.65. F $l7O.
n H 43 80. 1 $3 90 1 $4 15. N $4 50.
WG $5 55; WW 6 35
Cotton Goods
NEW YORK —Cotton goods con
tinued strong In the pr*nt cloth, sheet
ing and convertible divisions Job
i hers bought household merchandise
moderate!'* Italian raaa • k was
firmer Jute protlucfs were stea.Her
h»»t the d* man I was still restricted
AV.vd goods men are planning for
new llns for the spring season of
1922
SPOT COFFEE
NEW YORK.—B|wt coffee tin
chance at Ci;osK ft»r Rto 7s and 9**
to 9S<* sos Panto* 4s
' MARKET GOSSIP
J iFurnished by Doremus &. Co.)
Cotton Letter.
Liverpool 16 above parity; Man
chester cable suggests present half
time in Lancashire mills will be in
creased one hour per day. „ New Or
leans Edge Bank has suggested some
new scheme of'financing cotton to
War Finance Board. More showers oc
curred yesterday in the eastern belt.
Forecast i.s for show’ers in all cotton
state:; except Oklahoma and Texas.
Good business in local cloth market
yesterday. Southern spots easier,
DaUas 10.60. Houston 12c. Augusta
11. T. Prefer tong side on substantial
reactions.
Grain Opinions.
Lam son: \V e are inclined to expect
higher prices for wheat and oats in
corn sympathetically.
Leland: We believe wheat will go
Into good hands on all setbacks.
Would be cautious about buying corn
except on substantial declines. We
favor buying side of. oats on reac
tions.
Thomson McK.: See no reason to
anticipate any pronounced weakness
ut any time in wheat, if judgment can
be formed from supply and demand
conditions for the future. We deem
It unwise to sell corn and believe oats
a conservative purchase.
Cotton Opinions.
Weld: Today’s decline was without
any apparent significance, and we
continue our opinion that the proba
bilities point to somewhat higher
prices for the time Detng.
J. S. Bache: If the Liverpool spot
sales keep up as they have been run
ning for a week, the market will prob
ably do better. Otherwise we will
probaoly have a sagging tendency.
Lamborn: A significant feature
the cables is that mills are re-opening
as fast as they can get coal supplies,
and ax fast as they get coal supplies
they must secure cotton to work with.
E. W. Wagner: The trade general
ly looks for possible weevil damage to
'develop at any time and this restrains
selling.
Liverpool Cables.
Due nine to 12 lower; opened quiet
three to four lower. Midday, steady
net decline two to four. Spots in
good demand at five lower. Middlings
8.19 d. Sales 10,000 American, 8,000 im
oorts, 4,000, no American.
Stock Letter.
The weekly bank statements show
ed increases in reserve ratios, but the
banking situation apparently is not a
Darticular factor In the day to day
trading. The improvements there must
be laid away for future reference and
effect. Market traders are looking
mainly to the supply and demands of
stock and are finding the latter of
Lilliputian proportions. There is con
siderably more talk about German
commercial an'd financial activities,
and traders may interpret this as
bearish on our trade, but it seems to
us that that is snap judgment.
In a ntTrrket where sentiment Is
generally bullish, the reports relating
to the Mexican oil tax published yes
terday, undoubtedly would have
served as a reason for a spirited ad
vance, even had they been as unof
ficial as they were. As it was, the
news fell almost flat.
It is possible that traders will en
deavor to make some capital out of
Japan’s reply to the proposal for a
conference of the powers which, ac
cording to Washington dispatches, is
considered disappointing by the ad
ministration.
STOCK QUOTATIONS.
Previous Today’s
close opening Noon
Atch.. T. and S 82V 2 82% 82u
Am Beet Sugar 28% 2S 2S
Am Car and Fry... 125 124%
Atl, Gulf &W. 1... 23% 23% 23%
Am Linseed 24%
Am Lomoco 81 80 80
Anaconda 37% 37% 37%
Am. Sm and Ref.g 37%
Am Tel and Tel 103 103 103
Baldwin Locorno ...74% 73% 73%
Balti and Ohio 38% 38 35%
Beth. Steel 47% 46 45%
Am Can 26% 26% 25%
NY C and H R... 69% 68% 68%
Chile Copper 10% 10% 10%
Cen Leather 35% 35 31%
Cuba Cane Sugar... 8% 8% S%
Chesa and Ohio 63% 53% 53%
Cal. Petroleum 34% 34% 34%
Crucible Steel Co.. 53% 51 52%
Chino Copper 23 22% 22%
Erie R R 13 13 13 “
Nat En and S ‘.45
Gulf States Steel .. 30% 30
U S Ind Acl 49% 49% 49%
Gen Electric 123 125 119%
Cons Textile 14%
Int. Nockel l4 13%
Inspiration 34 33% 33%
Int. Paper 52% 51 " 51
Ken®grott 19%
Int Iter Mar 11
Mex Petro Del 103% 103 103%
Missouri Pac 19% 19% 19
NY. N H and H ... 18% 17% 17%
Northern Pac 72% 71% 71%
Pitts Coal A 53% ——
Pressed Steel Car.. 71% 71% 71%
Rep Iron and Steel. 46 45% 45%
Reading Co 67%
Retail Stores 53% 53 53%
IT S Rubber 48*% % 48% 49%
Am Sugar 66% 66% 66
Sou Pacific 75% 76%
Sou Rwy 19% 19% 19%
StifdebaUer 79% 79% SO
Tob Products 54% 54% 54%
Texas Co 33% 33% 33%
Union Pac 119% 118% 118%.
V S Steel 73 73 72%
Utah Copper 49% 48% 48%
Va-Caro Chem... . 26
Am Woolen 68% 68% 66%
Pan-Am 49% 4S 49
CURB DRIFTS
INTO A RUT
Stock and Money By
Demonstration Work
in Georgia
By STEWART p. WEST.
(By Leased Wire to Augusta Herald.)
(Copyrlqht, 1921, by Augusta Herald.)
WALL STREET, NEW YORK
Irfcgularlty featured the curb market
again Friday. Commission houses had
selling orders in some Issues, and trad
ers were also Inclined to press a num
ber of stock** for sale. However, there
were Indications of inside supporting
orders at times when rallies from the
lowest were recorded. When the de
mand had been supplied the market
again drifted into Its former rut and
transactions were made at conces
sions Cities Service obi common «t»
tracted considerab'e attention. Dur
ing the forenoon this had a weak ap
pearance, but shortly after mid-day
there was a sudden demonstration of
strength, with an unusually sharp up
turn. The buying on this upward
movement was by representatives of
those in control of property.
Guffey-Gillespie. the name of which
ha* been changed to the Osage Com
pany. also was quite active. After an
initial advance, however, a supply
came into the market and the stock
fell about A point International Pe
troleum. Tropical. Elk Basin and
others were heavy, whl'e Standard Oil
of Indiana and Anglo-American Oil
ware ateady to Arm.
Glen Alden coni Ava* the feature of
th** miscellaneous list at tone time
moving up more than a point on com
paratively large dealings Sweets
Company continued In supply and re
acted. and n new low for the present
movement was made in Acme coal,
t’nlted Retail Candy he d steady. Du
rant Motors was m light supply and
dropped a fraction, and a small de
cllne«was recorded in Continental Mo
tors Bri*i*«h-American Tobacco was
in good demand the buying credited
to foreign Interests
Mining stock* were slightly less ac
tive than In the past few days and
price chances were confined within
narrow limits.
Dealing In bonds were smaller.
WILL PRAY FOR RAIN
PARIS Card tin I Dubois, archbish
op of Paris Friday cal’ed upon the
people to pray for rain because • f
the prolonged drought, which has
caused much damage and »u.Te t.*g.
The cardinal Instructed the clergy
to gay special prayers for ram during
masses fvr the next nine days
Effect of Third Installment of
German indemnity Is Felt
By Market
BY STEWART P. WEST
By Leased Wire to Augusta Herald
Copyright 1921 by Augusta Herald
WALL STREET. New York.—
The markets Friday continued to
fee! the effect of preparations for
the third installme.it of the German
Indemnity, along with the efforts
of Germany to set up a credit in
this country for the purchase of
foodstuffs, copper a.'.d cotton. This
involved further calling in of Ger
man balances in European coun
tries, with a consequent decline in
Spanish pesetas and other neutral
exchanges, and their investment in
dollar exchange, with a resulting
depreciation in sterling, francs and
lire. Sterling got down to a new
low for the year, with sight drafts
below $3.62. On the other hand,
German marks on the realization
that these operations were
strengthening German credit abroadj
held up well, as they had Thursday.
The stock market was much the
same sort as that of previous days.
Business was not large; in fact,
most of the time things were very
dull. Outside of a few issues no at
tempt was made to oppose the ac
tivities of professionals working on
the short side. United States
Steel common, Republic Iron and
Steel and Bethlehem Steel B, were
offered down persistently. taking
advantage of the evident reluctance
of investors to buy these.stocks un
til the “bad news” in tire shape of
the second quarter's earnings state
ments are out, and until there is
more assurance than now appears
that the price cutting of last week
is to be effective in reviving the
demand for steel producs. There,
was special weakness In Royal
Dutch. Shell Transport. General
Electric. Famous Players, Ameri
can Wool and American Sumatra.
The last named sold ex-dividend
Friday morning and this was evi
dently what the traders had been
waiting for to renew their attacks.
Inasmuch as the stock dividend of
General Electric for the half year
was paid only a month ago, it is
pretty early to discuss the possi
bility of this part of the distribu
tion being omitted next time. The
argument nevertheless used against
the stock Friday was that the 8 per
BIG ORDER YET
ON BUYING
SIDE
By STEWART P. WEST.
(By Leaked Wire to Aunusta Herald.)
(Copyright, 1921, by AuQusta Herald.)
WALL STREET, New York—Stocks
again Friday were \*ariable in the in
dividual movements. There was a
suggestion that the same large order,
as svaa noticed a week ago, supposed
ly for London account, was still in on
the buying side. But it svas limited
to a comparatively fe5V stocks. All
offerings of Southern Pacific, North
ern Pacific and Atchison were evi
dently being readily taken, without
however, any disposition to raise
bids. Elsewhere the demand was not
so noticeable and it did not seem 10
affect at all the low priced non-divi
dend rails. Most of these were in
clined to be heavy.
In connection with the selling
Thursday and Friday in Canadian Pa
cific, it was recalled that this was one
of the few stocks in the American
list which Germany did not get pret
ty well bailed out of at the time of
the war. Now that Germany is cash
ing its investments and drawing down
its cash halanees all over the world.
It is qui%. possible that Canadian is
one thing which it has been disposing.
1
Sugar Situation Better.
Although scarcely reflected at all in
the sugar stock:., the day’s reports
from the sugar trade were the best
that have been received in a long
while. On Tuesday the commission
handling the nesv Cuban crop made
th® first sale it had arranged in a
month and a half. But Wednesday
and Thursday refiners were able to
supply nearly all of their require
ments from the offerings of Porto
Rico raws. Friday, t however, the
Cuban commission again became ac
tive and put through some really large
transactions. At the same time the
price of raw sugar was advanced one
eighth of a cent. The refined sugar
quotation as fixed by the majority of
the large companies was 5.75 cents as
against 5.40 to 6.50 a week ago. The
demand is picking up all over the
country and there is a very fair pros
pect of a revival in the export inquiry,
becaur.® of the severe damage which
the excessive heat and drought have
done to the French beet sugar crop.
If the supply of Porto Rico sugar has
dwindled as is now* said, to small
proportions, the refiners will have to
turn to the Cuban crop and deal with
♦he commission. which is charged
with its distribution.
Royal Dutch.
Royal Dutch and Shell Transport
were the subject of bear rumors. The
Rojytl Dutch Company, it is said, is
largely over capitalized and with
earning* dropping off the dividend
cannot be considered safe. The stock
is one of the International Group on
the stock exchange, but lately Europe
has been doing nothing at all in it.
The case, as presented by these who
have made a study of the situation, is
that Royal Dutch from time to time
lias added to its holdings of oil ter
ritory. and that this land has been
paid for in cash. When it comes to
distributing its products the company
has been forced to accept depreciated
• currency or rotes of governments on
the verge of bankruptcy.
BOND PRICES
HOLD THEIR
OWN WELL
(By STEWART P. WEST.
(By Leased Wire to Augusta Herald.)
(Copyright. 1921, by Augusta Herald.)
WALL STREET. New York —Bond
trading \A-ns somewhat smaller in the
market Friday Prices, however, held
their ground very well, denoting the
presence of a ready demand for in
vestment issue* at the higher levels
reached since the first of the month.
Liberties Agere generally a shade up.
There was not much change in for
eign government issues. Denmark B’s
were conspicuously strong at 101 as
against Thursday, and City of
Paris 6*s sold affaln at their call fig
ure of 100 Otherwise there was no
feature in this section of the mar
ket.
Representative Industrial, such as
Goodyear Kelly-Sprlngfleld 8».
Puquesne 6*s and Sinclair 7Hi’s, were
all unchanged. Steel sinking fund 6’"
despite the weakness In the steel
shares, were off only a quarter from
their recent high of 95, and Midvale
5 s at 76 were off only a half p.fint ,
from (heir top. and still nearly a point
• ■|• ■ selling a fort
night ago. An sphcnis and
Telegraph collateral 4 s Avere a shade
higher, while West lnghouse 7’s were
a trifle down.
Cuba Cane 7’s did not make the re
| sponse that might* have been expect-
I cd to the better news about the sugar
I trade. They were dealt in mont of
•he time between 59 and 59' a as
j against Thursday's high of 6(»V
Profit-taking continued in Hudson
i and Manhattan income . which car
r *d them off nearly a point. Third
Avenue adjustment s's were also low
er. but Interborough Rapid 5> held,
better. Recent gains in the railway ;
FRIDAY, JULY 15
STOCKS AND
BONDS
cent cash dividend was all that
could be safely counted upon and
that as an 8 per cent stock General
Electric was too high.
Call money renewed at 6 per cent.
There was scarcely time for the
market to reflect the completion of
the heavy government draft which
which was made upon the banks
Friday. But the immediate call
money rate is of slight consequence
beside the latest reserve figures
showing the ratio in the New i'ork
C strict up from C 6.8 to 68.7 per
cent and the ratio for the entire
country having a new high for the
year of 61.6. A noteworthy fact
about these gains during the week
was that they were brought about
mainly by further deflation of bank
loans and currency. Federal re
serve discounts of all classes were
reduced $103,000,000 —one of the
heaviest decreases of any week so
far, while federal reserve notes
were brought down $68,000,000.
Weather Plays Part.
Unfavorable weather reports again
played the main part in both grain
and cotton markets. At th e the same
time improved export demand was a
factor of scarcely less consequence.
Indeed, the better feeding in Englisti
trade circles, following the settlement
of the coal and textile strikes, 1s a
development, the importance of which
is being shown more clearly each day.
No precise information came from
Mexico City to sustain th e reports
that President Obregon proposed to
modify the obnoxious tax decree. The
fluctuations in Mexican Petroleum
were extremely erratic, reflecting, the
different views as to whether there
was anything in these stories. All that
may be said is tjiat it is not unrea
sonable that the Mexican authorities,
in view of the almost complete shut
down of the oil wells, should be
seeking some sort of compromise that
would let them out graqefully from
an impossible position. Weakness in
the steel shares affected more than
anything else the entire stock market
of the day, and as the steels continued
to drag downward through the after
noon, the rest of the list showed no
signs of recovery. It might have
been expected that the sugar stocks
would have done better following the
improved trade news and the slight
advance in quotations for both raw
and refined, and that the coppers
would have been helped by the pub
licity given to the German demands
for the metal. But, as it happened,
neither group was at all responsive..
list were maintained, with few changes
worthy of note. St. Louis and San
Francisco income 6’s were slightly
higher at one time at 54. Northern
Pacific 4’s were a fraction up to 57%.
Erie convertible A’a gained a bit of
38%. and Baltimore and Ohio refund
ing s’s jumped a point to 71%.
Subscription books for the one-mil
lion-dollar Adirondack Power and
Light Corporation, first refunding 6
per cent bonds, which were opened
Friday morning, had not been closed
up to a late hour in the afternoon. It
was said that most of them had been
sold, however. These bonds were of
fered at 85 to yield about 7.25. It
became known that the same syndi
cate which so successfully floated the
state of Michigan $15,000,000 issue had
exercised its option on another block
of $5,000,000.
"LONE WOLF" HANGS
CHICAGO —Harry H. Ward, known
as the ‘‘Lone Wolf” bandit, wan
hanged Friday morning at the county
iail He paid the death penalty for
the killing of Thomas Graney and
Rudolph Schwartz last fall when they
attempted to stop him after he had
robbed their store. Two others were
wounded by Ward at the same time.
Says Step-Father Killed
Her Two Little Sons
ALBANY, Ga. —Robert and Isiah
Temple, little sons of Mrs. Bennie
Hudson, were murdered by their r.t p
father, Glen Moore Hudson, after he
had severely beaten them, early Tues
day morning, according to a state
ment alleged to have been made in
the jail here Friday by their mother.
Temperance laws recently passed
by Uruguay are designed to make
that country totally dry in 1925.
Two hundred thousand carats in
raw diamonds came out of the Bel
gian Congo fields in 1919.
John Stuart Mill, the philosopher,
was able to read Latin and Greek at
the age of 8.
Many Thousands
of Good Dollars
Will be Spent
In Augusta Stores
in Monday’s
Big Shopping Day.
A Large Portion
•of These Dollars '
Will be Guided
by the Store News
in Sunday’s
Augusta Herald*
A. C. CAPERS
COTTON BROKE 6
Campbtll Bulidng Augusta
Member American Cotton and Grain
Exchange
Cot.on handled in units of ten balea.
New York Correspondent.
Raymond. Palmer i Co.
ATLANTIC STATES
WAREHOUSE CO.
Capital $350,000 Actually Paid
In
John Phmizy, Viet Prss.
Hugh H. Saxon, Secretary
BARRETT & CO.
Cotton Factor*
(Incorporated)
AUGUSTA, GA.