Newspaper Page Text
SUNDAY, AUGUST 10
COTTON AND
GRAIN.
AUGUSTA COTTON
Today .... 28.38
Friday .... 28.31
Last Year.. 23.50
PRICES BY GRADE
Clou
Middling fair »«•««
Strict good middling 29 75
Good middling Jif.b9
Strict middling 29.1 j
Middling 28 3*
Strict low middling 26.*8
Low middling J 5.11
Strict good ordinary 24.13
Good ordinary ... -3 13
State Bureau of Markets
Price, below sre those which whole,
halers are paying t 0. I>. thee, con
suming enters. To arrive at price*
net shipper., deduct freight to moat
favorable point. Auguita.
Irish potatoes. No. I new, per
lib] * SM
Cabbage (green crated). 100
pounds
Field p»a«, mixed Whlppor
wlli*. bu 12’5 to ! ™
Black eye pea*, pound Vi
Eggs. fresh randier, dozen 20
Stag*, pound .20
Hen*, pound *'
Boosters, pound - lu
Frlera and brollera. 1 to !
Ih, . pound 20c to .2"
Ducks, pound J{
Geese. pound , ■••••* * ll
Country butter, beat table,
pound - 2?
Country.butler, rooking, lb ... ■*'
Georgia Van, tiyrup (bhl> . gal. 75
Corn Meal, per 96-lb bu jJ
Corn No. 2. white, stacked.... l-« 3
Oats No 2 (white) sacked, bu .7*
Peavlne hay. ton * 60
PRODUCE MARKET
Flour- Jfard wheat. »S-lb. cot
t, n sack*, bbl »7 «
Flour—Plain. OS-lb. aka., bbl.. 7.70
Flour—S R . aba . bb1...... J.J 0
Flour— S R, 48-lb. »k».. tibia... 7.16
Flour—Beat plain, »S-lb. aka.
haerf] * *
Flour-P. It. 24-lb. aka., bbl... 7.10
Hour—S. ft , 4S-II). aka , bbla.. 065
Buckwheat, 24-pkg ca.e *•»»
Grit*, 24 2a. per J
Grits. 12 3a, per cose l»o
Grlta. fine and medium, 06e
Per rack ? JJ[
Meal. 96k, per sack 2
Meal. 4 •*. I«r sack 1-2 vi
Meal. 240. per aack .... ...... .66
Hire— Fancy. No. 564 or *o. 111.
Bit*, fancy. No. 01. lb. ......... 07V4
SV.saon Cooking Oil, 24 plnls.. 6 76
Wesson Cooking Oil, 12-qt. ra.a 6.40
Wesson Oil. f. 1-gal cans, case-0 SO
Axle Grease. loe olxe, I-lb.. 4
dozen * ,6
SEEDS.
Amber Cane. 160 lb. e.ki.. M>-
lb. sacks, per bu*h*l 1 "«
FOREIGN EXCHANGE
NEW YORK Foreign exchanges,
ateady Quotation*i In
On at Urltaln. demand 4 to\ . <•*
bl**. « 83. 60-day bill* on banka. 4 W.
Franca, demand &-ISU; cable*, a. 53.
Helglum. demand 6.05, cable* a.jo*
Germany, demand, per trillion, .13T*.
Holland, demand 2$ *4.
Norway, demand 13 87.
Sweden, demand 16. M
Denmark, demand 16.10
Switzerland, demand 18 00.
Spain, demand 13 44.
Greece, demand 1 77.
Poland. demand IsV*-
r*echo-Slovakia. demand C 9*»
Jugo-Slavla, demand 1 Si.
Austria. demand .0014*4.
Rumania, demand 4fttf.
Argentina, demand 33.75.
KrazJl, demand 10 10.
Toklo. demand 41V
Montreal, demand 09 H*K»
DRY GOODS
NEW YORK—Cotton good* mar
ket'. Saturday w**rg quiet and price*
were about steady. The burlap mar
ket WHO higher for shipment*, spot*
and afloat. with a little forward
huaine** booked The fur market
wa* busy on some specialties. The
woolen goods market w*a active In
apnta with a hurried demand for
acme napped fabric*. Japan raw eilk
price* were firmer with good busl
ne* i reported all week.
NAVAL STORES
SAVANNAH NAVAL STORES.
SAVANNAH. 4>a -Turp,ntln». firm.
||>K: ,»!<«. I*4. rrrrlpl*. 6rto, »hlt>-
m»nt». 6ll; Uuek, 9.945
Hotln. firm. ui» 1.709; r*i*oli>t,.
t AS', .hlpm-nt,. in.M3. Muck, UK,MI.
«Junt« H 14 60, t> 14 70; K 14 M;
F r, II 1 K M 14**v. N 13 00; Win.
•Inw glas*. If. 00; wslcr vlilt*. X,
16.45. )
JACKSONVILLE NAVAL STORES.
JACKSONVIU.iI. Fla - Turp»ntln»,
firm, 3614 c sal.-., sol, r-crlpta, 667;
shipment,. 106: storks. 17,391.
Resin, firm; sales, 316. rscslpts. ? ■
Off. shipments 1.235. stocks. 115.179.
Quota 14 1,51: 1> 14 70. E 14.13: K
to I 14 90. K 44 9JL M It "S’, N
16.03 w Imhxl gla> lf.no r.» ■ w hl'c,
1* 43
A Story mhout Words
fIBL
=Financial and Commercial News=
NEW YORK COTTON
NEW YORK —Moderate rallies In
the cotton market Saturday partial
ly offset Friday’s severe decline. Ex
cept for covering, very little demand
was reported, however, and after sell
ing up to 27.56, October contracts
rated off to 27 13 closing at 27.33,
compared with 27.2. r > at the close of
the previous day. The genera! mar
ket closed steady at net advances of
eight to 36 points.
The market, opened steady at an
advance of one to nine points anu sold
25 to 3S points net higher In the
early trading, with December advanc--
in gto 26.26. Scattered covering arid
some trade buying of October con
tributed to the advance. As soon as
the Initial demand had been supplied
the market eased on the continued
favorable character of eastern belt
crop advices, hbwever, and sold about
three to 12 points lower, dipping into
new low ground for th* movement
on October and December deliveries.
The decline WSS checked at 26.59 for
December by renewed covering for
over the week-end. but rallies were
not fully maintain*! due to the fore
cast for showers In some parts of
the southwest.
The early covering movement was
accompanied by some bullish comment
on Manchester cable advices report
ing an Improved trade in the British
cotton goods markets and reports
that some of the domestic mills
would increase their running time
next week. Buying otherwise was
evidently held In check by the tend
#»ncv to Increase estimates of the
probable cron, based largely on fa
vorable westher and continued ab
sence of boll weevil complaints east
of the Mississippi river
NEW YORK RPOTR
N'jrw YOR% .—Spot cotton quiet;
middling. 80.25.
NEW ORLEANS COTTON
VilGyVcGv. 'for »°»hort “E
urclay session ami although the op<n-
In IT WAS lower price* aoon rallied and
ih? general trend of values wg. up
ward on ihe claim that the mark't
»as oversold and on tils continued
absence of rains In the western belt,
coupled with Increasing numbers of
deterioration reports
After declining 31 points at the a tort
to 26 lu. October rallied sharply und
■." Oil traded os lilgli «» 26 i*. or «»
points up from the Inltlul low and 37
ni.lnts above the previous close. Ac
flvi month* eased‘off 29 to 32 point,
it the end of the first hour owing to
me official forecast promising thun
dershowers In the west over Huiiday,
but all months rallied briskly again
111 the final trading. The clo»* show
ed net gains for the day of 14 to 28
points, January showing . th* most
strength with til. last sal. at 26.68.
The weather map showed only a
few wet place* In the eastern belt
itnd no rain In the west, Although
Hie forecast was for thundershowers
In the west over Sunday. It was
pointed out that the showers
dally promised by the weather bu
reau have seldom materialized.
The condition average will have to
show a very material deterioration on
August 16th to cause any lowering nr
tell Indicated yield while a gain In
condition would mean a big Increase
In the Indlcateil yield. Fall {} lv f r 1 JJ.**
ported sales for Ihe past week of 10(1,-
lion pieces of prim cloths compared
with if»o,ooo piece* the previous '*eeK.
NEW ORLEANS SPOTS
new ORLEANS. lit.—Spot cotton
uulrt; 1» points up. Sslrs «n tho
spot, tionr; t" arrive. 30 Low mid
rtlln*. 34 33. middling. 27,»0; good mid
dling, 1177
CHICAGO GRAIN MARKET
A
CHICAGO, 111 Influenced by pros
pects of n lll.rral Im-riass of the
[inited Ststrs visible supply total on
Mondsyw Inst Saturday underwent »
moderate,setback In price.
closing quotations for wheat were
tinselled. He t» *ic net lower, hep
t. nibrr 11.4*14 to »1 23*. nnd Hecera-
Per 11 32', to II 3114 with corn un
changed to >*c higher and oats vary
lug from V> off to '*o advance. In
provtalona the ouTTome rangeil from
100 ileillno to a rise of two cents.
\\ 111. AT ( n Mlßh , ow Oct
.q,„t 1333* 129 S 1273, 12314
lire .... 1«V 133 S 13lV 13. W
May .... 1373* 13*'. 136'>, 137
SeVt' UN - ■ 11414 11561 114 11414
n«c .... 70S I«M> 11i1'.4 l°4 7 a
May .... 105 S 1""U JU4 1 , H'#?»
OATS—
Sept ..... 94a; M% <9H 4a V
Oec 62** 33 51V 52
May . ... 55*, f.'V 641* 6416
LAUD— . „
ftrpl ... 1370 1370 13*3 1363
Oct .... 13S0 1330 1372 1372
No' r ... • 13S0
ribs—
Sept ... 1250 1250 1240 1340
Oct ... 1343
H ELLIES—
Kept ... ■ 1335
Oct .... 1350 1350 1347 1347
GUARD TOUW HEALTH
ssEkiZs>
PROPHYLACTIC ».r MIN
ANsils U latest Prstssiiss
Afur litleillvss lifr iU'e
Uig*Tuh« lir.
All Drt<9«Ul« »r
V Kil I*. it. A
ft It* •kmah St., K #w York
Writ*Mr Olrrutar
ISrSy
CATARRH
ijnl BLADDER
NEW YORK BONDS
Bat’day. Friday.
Ten first grade rai1*...88.96 89.u2
Ten secondary rail*.. .88.18 88.4 d
Ten public utilities 91.71 81 «8u
Ten industrials 95.46 95.43
Combined average ..,.91.08 91.16
Combined month ag0..t0.39 —-
Combined year ago ...87.28 —*—■’
.Total tales, $7,210,000.
NEW YORTC. Conflicting price
movements gave a hesitant tone to
bond trading Saturday, with narrow
price fluctuations attesting to the in
fluence of the usual Saturday let-up
in activity.
Announcement that a conference
on inter-allied debts would follow an
agreement by the present reparations
conference infused fresh strength into
foreign bonds but its effect was coun
teracted to some extent by week-end
profit-taking. United Kingdom 6y 2 »
or 1929 and 1937 reached a new high
level for the year but French. Aus
trian and other European issue* hov
ered slightly below recent top price*.
A reflection of the local bank rate
reduction was seen in the rise of Lib
erty fourth 414’* to a new high rec
ord at 103 Price movements through
out the government list, however,
were irregular, with a majority of net
loss,* for tha day.
Wlrkwlro Spencer 7's w,r, among
ih, most active of the Industrial llsns
Saturday, advancing 4% points Ac
cumulation of these bonds was report
ed under way by Intereets close to the
company. Norfolk ft Weetern con
vertible 6's and West Shore 4 s were
among the few rail Issues to record
gains Wilson convertible 6’s con
tinued to move lower despite official
assurances that recent court action
would not affect the company’s posi-
tion.
FORIION
Amentia, Si 904
Auatlsn Oort std
loan Tt 6414
I»>ra of C«n*<l*
ftt 19*2 102%
I»titHi F,i*t Indi*i
fin. 1962 9*%
Frwirli H'l* 7%«.1fi4%
.Tnj»an •%* • • •• *l%
K'ngtlom »if U*l
glum 7%* . ...110%
t <i Kir* of nt
Ilrlt •n/J In* S%»ty3%
V 8 id Vtraxi! H 9*
DOMESTIC
Amer A*r Chmi
7%« *j%
A«»er Hnitl* 5« 94%
Ani Kiin*r fit .100%
Ain TH fttul T«1
(».*b ft%. 102%
Art»fon«U Op 6»,
. 90
11m It anti Ohio r?
1%» ...rr . .. *9%
Itelh Ht#H 5%« .. *9
cvn leather %«.. 99%
Chr«a and Ohio
fi» ...100%
rh»d and Alton
3%. 41%
nil. burl ari
O'llnrr ref R« A 10'%
nu fJt Wnnlrn 4a 50
Oil and North
western tri .%t ... 97
CbL R I and Fao
ref 4a *l%
fhlla f>id*r Oa-.IOOU
Cuba Cana tt'igar
fl« bOa . • • .109
p'ntrr and Rio
firand# rH 5a.... 83%
IbiPont da Nwn
7%s 109%
i KrnrHra r;a» and
Pual 7%« 95%
Rlr« aen Urn 4s 01%
tioodvrar Tlra 8a.10.5
fit Nothrm 7* A T 09%
Int and Gt North
ern adj 0» 54%
Mo Kan and Tea
now adj 5* A... 61%
Mo Par* Ren 4a. .. . 00
N V Gen dob Os 109%
N Y. N V and H
francs 7 p-r rent. *5%
' Norf and W**»arn
rr 6s 126%
I’ann II «rii 5« I°?%
Headtn* Ran 4a . 93
8t !»uls and ban
Fran Inc fl* . 72%
Hlnrlalr Ton Oil
col 7s 92%
Foil Rwy ten 4s. 74
Mouther!) Rwy 05..1 f1 2%
t'nlon Par Ist 4s . 97%
I' H Rteel a f »a.!»‘4%
Va-far rhem Ta.. 02
Va Rwy ses 96
Wllaon and Co
• f 7%« 59
Wltlya-Oyrrland
o%a 97%
N. Y. STOCK MARKET
Twenty Twenty
Industrial*, railroad*.
Friday 100.65 90.90
Week ago 102.20« 90*77
High. 1924 102.20 91.24
LOW, 1924 90.27 81.00
Total stock nule*. 392,800.
NEW YORK.—Stock price* display
ed a better tone In Saturday'*! brief
ccnhloii of tho market. Home irregu
larity \va* noted at the opening when
realizing ha lea again* appeared in
largo volume but the steady uccu
inillation ol rail* wentloijad In > on*
neetion with proposed consolidations
steadied the list and eventually led
to considerable short covering in In
dustrial shares.
Delaware /it Hudson, which ha* been
mentioned as part of a proposed fifth
#re»t trunk line system east of Chi*
eago, was pushed up nearly five
points to 129, a new 1924 high, while
liHckawannu, which Wull street ru-
Btatf i l4 tO i"' taken Into the
proposed “Nickel Plate" system, also
< stablished a new maximum price at
140. Canadian Pacific and Texas Ac
Pacific also bettered their previous
top prices. Nickel Flat* and Wa
bash preferred “A" each climbed
moro than a point
National Lead was the outstanding
Individual strong spot in the Indus
trial group, climbing more than six
points to a record top at 161 after
having sold ns low as 123 4 last April.
Other Inbucb to break through their
previous high prices were Founda
tion Company, Pullman, Montgomery-
Ward, General liaklng and KenneCott
Copper.
Unlteu States ftteel common Again
touched 108 but slipped back later to
107 V up H on the day. American
Can closed \ higher but the other
so-cnlled pivotal shares were prac
tically unchanged.
Oils displayed a firm tone, Pan-Am
erican “It" closing a point higher and
tl Improving fractionally
Omission of the common dividend on
Atlantic Refining was not announced
until after the session ended, that
stock closing >4 higher after having
sold ns high «s 86. Coppers were
benefited by higher silver prices, Or
re de Pasco being one of the most
active,
A reduction of 75.433 tons In the un
filled orders of the United State*
steel Corporation wa* somewhat
smaller than expected as moat con
servstlve estimates had looked for a
decline of 100,000 ton*.
The weekly clearing house state
ment showed mixed change*. Loan*,
discounts and investments dropped
332.707.000; reserve of member hanks
In ttie Federal Reserve "Rank. SS,-
CM.OOrt and net demand deposits. $41.-
87.000 i'n sh in own vaults Increased
*4 102.000 and time deposits. $7,626.-
000. Aggregate reserve totalled $62,0-
f.0R.000, leaving excess reserve of $21.-
666.500, ft decrease of 04.294.0R0.
Foreign exchange* fluctuated Irregu
larly within narrow limits
r>emand sterling hovered around
$4 M and French francs were fairly
•*.*• Ive "fsnikl B*4 cents.
YORK -Combined earning
?t»wer of the five railroad* Included
in the Van Swergenln’s “Nickel
Plate" merger Is more than sufficient
to cover the 6 per cent common and
preferred dividends contemplated for
the *•# enmpanv. according to analy
sts of 1923 earnings
This shows aggregate profits avail
able for common dividends equal to
about sl4 a share on the total amount
t»f stock Involved in the 4‘onsoßda
„ estimate of thU
. »rnlng capacity, based on operations
in the first six month*. Indicates that
the return for 1924 will be fully as
Urge.
|M Mar ftla- i*J. 5:4
Inritirtfet on ... Ill*
KhakoU CiH* 4T\
l*»Ul a«"d Nadi. .**4
Mach Truck ft a
Marland Oil . . >l4
MNWa PU'ra OH. 14
M» Kau a d Tea Ift
Mj Pa* jpd 4?
\ Y rrmral l*T4
N Y. N M and II :#4
N«ff and W«ttrrn.l3o|
Northern Par «*4
Oktalmma rr*t and
ppftnm# ... ?4
Pacific Oil 4T %
Pan-Am Paint IV .s\
p*.«n«t?*a.iit ... 4(4
PhlP'pa pair»» .. . S'4
p».«Uicart and
Hefner*
Pirn Oil . 2*4
P-adm# ... *»4
lion *M* H . T>4
J»» ImtH Pmth
•natm-ti 4?4
« 4 I. I*4
fv. r*d S»4
w*rti h wfetrfc I*l4
Wart! 1 p‘«n on.. I*4
a»tctai» Cam U 4
Ciai Pbefflrld ftlwl
and lmn .... **
Haaithara Par ... *44
awiiMni hm a 1
fi"! h'*4 h*» nfd. T'4
f»M Oil «f Cal . *•
«*d tMI .* 4* J a*
HaMc.lVtmtr,,. *?
tiniM<*(r* (Vffi... f?U
I4prf ... *4
avaaa IV 4*4
TV, and Paa . »M<
Tnh Pr*d**cf* ... *4 4
Tr*na*pn , *l (HI. a
*»a Pa* ItS
I* a C»*i l*m
Hina ... •*
f * tn» 4al T*4
V p RhMw* *1'*
?» p «• I*»4
TNaK PS
•** r*m Cliam n<4 *
H H'lnAm .. ana
<>•-*’a**<a tV **4
Talmr fib IPt «S
CVM
A Pied (lu*tn and
V • T*4
An; Can IJ>4
Am lntaewational. 14 4
Am 1.. w T 9 4
Ams lean HraaUlni
•!-«i Rrtu'ini , *9*4
Am Pu*ar 4*4
Awmciii Tal and
Tel I»'4
%m Tn»a.*tm .H? 4
Am W.wfcn .... T 4 4
Aniw.ll i pr*rr. »*4
\' • •
I
Ha Marin l«'**ao .H»S
PaM and 0hi0.... *?4
Hath A*ael .. 4t4
• aif Hair* ?*4
Canadian Vis IM4
Tan t>fd 4*4
Off" da
Chan4ltpr Mctnra *!4
I'Vaa and Oh> »<s
CM. Mi' amt Pt
Haiti ttfd T%
c*V.-«An ami KtrUi
w*a'r*r «14
O' M 1 and Pa<* HH
fMW c*P«wr..,.. M 4 1
CarfC.da ...... t»4
Cn»«f>*ruta . . *l4
C-n*.-’ f|i fet*
Cnnant Tail'V 4U
4V»ttn~*«*t fan . >l
<W« Pwdwta
nnr «*»4
M*« O'* *fH
I* * •!►'* ntrr! ft|%
Ciu Aniar
«**<* am *d . 41H
r\«K*n An* *«U
rMpHi, a«
da Nam !•*
**a , H 4
r**«w riamra
4d« a*
# rv .. r*4
«aa *V M II
«i ►.»,1 a«
«r*« »a a*t»— Rta*' **4
«" **4
C—•»«? . 11a
Ini Btfiww
THE AUGUSTA HERALD, AUGUSTA, GA.
Cotton Will Doubtless
Remain Speculative For
the Immediate Future
By W. A LLIFBURTtOW.
Market Editor.
THERE WAS a very small bull
kick In the coton market dur
ing the latter pars of the week,
though a seven-point advance
advance was made In the local
spot market on the close Sat
urday quoting epot cotton at
28.38. An Indicated Improve
ment In demand for cotton goods has
encouraged the bulls some, but the
actual demand that Is necessary to
take the market beyond the pal, of
speculativ* manipulation is not pres
ent and until such time erratic
movements will doubtless be wit
nessed.
Although the market la expected to
develop considerable strength this fall
cotton occupies a somewhat puzzling
position at mla time because of the
problematical business condition con
fronting the market. Many are of
the opinion that the demand for goods
will be large In this country and that
there will be larger takings by Eu
ropean mills of the American raw.
Even though a good business Is ex
perienced In tills country, small busi
ness among the European mills will
necessarily hold the price down.
Unfortunately the cotton market
does not occupy the same position
as a political factor In the coming
presidential election that wheat does.
Many of Ihe wheat states are doubt
ful, politically speaking and It now
looks as ihough the wheat farmer Is
going to get a good price for his
wheat. That Is a bid by both the
Republican and Democratic parties
for these votes as against those that
the third party may get In that sec
tion of the country. If the south
was doubtful politically the price of
cotton would doubtless be looked
after, but it Is generally conceded
that It will go Democratic and cer
tainly not Republican and the third
party Is not being considered serl
ously>
Advances in other markets will, of
bourse, help the cotton market. With
out an actual demand for cotton
goods It standH to reason that the
cotton market will not be favored tu
the same extent that others may be.
But. be that as it may. the cotton
planter will doubtless secure a good
price for his staple.
Viewing the situation from a local
angle, that is the state of Georgia,
Indications at present are that the
crop will be good and times in Geor
gia will he better than they have been
In several years. It will be a real
hog and hominy time down In Geor
gia.
European conditions are such at
this time that one would not attempt
to predict what the outcome will be.
This Is a factor that must be reck
oned wlh. Another side of the prob
lem Is the great number of Idle do
mestic mills. Before these mills get
busy there must be an actual de.
mand and that can only come when
the consumer Is possessed of suf
ficient purchasing power to supply his
nroda. j
Springs ft Company, of New York,
views the situation as follows:
’’The outlook for an increase in the
coton crop has caused all upward re
vision of many estimates and but for
a Slight Improvement, mainly senti
mental. In the cotton goods trade It Is
doubtful If the prlco structure would
have withstood tho expansion In crop
figures as well as It did. From the
high of Just under 3o rents for Octo
ber that option has slid off SIU a bale,
however, bearing out our point raised
Vt week that the bulge was the
place t" 'aks profits and the Octo
l»er ami December options not rein-
Ktatrrl unless there was a sharp re
cession.
“The Outlook today is for at least
a half million bales more than the
Indication* six weeks ago, when Octo
ber coton held around 25 cents a
pound, while the trade outlook ha*
not Improved eufficiently to offset
this situation. With a carryover
placed at 2.319.000 bales the outlook
Is for a supply of 14.500.000 to 15.000.-
000 bales between now and the com
ing In of the next crop, against a sup
ply of approximately 12.600,000 bale*,
carryover Included, In the year just
dosed.
‘“Our domestic situation is far from
encouraging. Much of our mill ca
pacity l* idle. Sales of cloths at Kill
River have shown some improvement,
but all In all there isn't much change
in the good* outluok except in senti
ment based on the prospects for a
prosperous fall season for wheat und
corn farmers, and tho resultant con
tribution to general Industrial ac
tivities The place to which we must
look for & market for the Increased
supply of coton Is Europe—and the
conditions there are far from clear
enough to warrant any assumption
that a supply of 15,000,000 bales with
out llnters, at current prices will be
absorbed.
“The high price of coton has en
couraged the use of many substitutes
which have proven so economical as
well a* practical that they will not
be discarded, however low cotton may
again sell. Paper napkins and towels
as well as numerous other household
and family articles ore items in point.
And Milady no longer w ears coton un
derthing*—*he prefers silk when she
prefers anything, and demands silk
stockings, silk ribbons, silk hat lin
ings and what-nots generally. Cotton
wearing apparel is not th* mod*, and
that's all there is to it. All this cut*
into the use of cotton and goes part
way towards explaining the gradual
narrowing of the output of cotton
good* by our domestic mills.
“The futures market continues to
be a weather market. The hot dry
weather that has prevailed over the
western half of the belt has been pre
sented as having had an unfavorable
effect upon the development of the
plant, but we do not consider this
conclusion will be borne gut by the
government’s report. It will show
the condition as of the end of July
and we believe that the Texas and
Oklahoma figures particularly will
demonstrate that the supply of sub
soil moisture resulting from the rainy
spring has carried the crop through
nicely with much teas deterioration
than la being chronicled This en
abled the plant to make a strong
nM't while the weather has also held
back the weevil
“All In all. we have heard little of
the weevil thus far. although we ar*
just entering the month In which he
gets in his hardest work August is
the most difficult month through
which the crop ha* to past. Of the
past ten year* 1914 was the only ona
in which the plant made a gain In
August; in every other year deteriora
tion was reported Good rains thi*
week in the western belt and season
al temparatur** will go far toward*
Improving the crop outlook and the
government report of August 9 should
he Interpreted In conjunction with the
probable effects of the weather con
dition* of the past week
' uncertainty f the wnther
likely to prevail over the next month.
;«nd the ueifbt or precedent as to
August retardation of crop develop
ment. suggest the advisability of a
cautious attitude towards th* market
at thl* time, Wt see no reason for
taking a bullish puMtion. much as
we would like ti-> see cot on sell at a
good price; rather we are bearish
with reservation*, recognising th*
fact that for the next month the
market, because of tne contradictory
crop advices and Irregular weather
conditions. I* very like! yto go through
a series of erratic fluctuation* Trade
condithun* In the meantime promise
to be or only slight Influence
"Therefore we would advise that
the October and December contracts
be bought only on setbacks and that
profits be taken on the succeeding
bulges."
The following quotations from New
Orleans and New York were posted
on the Augusta Cotton Exchange
Saturday:
NEW YORK.
Prev.
Open High Dow Close close
Jan... 26.65 26,83 26.50 28.68 26.58
Mar... 27.05 26.68 26 92 28.75
Mav... 26.92 27.20 26.92 27.16 26.80
0ct.... 27.25 27 56 27.13 27.38 27.25
Dec.... 26.68 26.95 26.60 26.82 20.62
NEW ORLEANS.
Prev.
Open High Dow Close close
Jan.... 26 80 26.40 26.68 26.40
Mar 2«.74 26.58 26.73 26.54
May.... 26.70 26.70 26,70 26.47
0ct.... 26.12 26.78 26.10 26.55 26.41
Dec... 26.37 26.80 26.35 26.61 26.43
CHICAGO CASH GRAIN
CHICAGO, lll.—Wheat No. 2 red,
113084; No. 2 hard $1.298401.30.
Corn No. 2 mixed $1.1501.1584; No.
2 yellow. $1.168401.17.
Oats No. 2 white, 538405784 c; No. 3
white, 52@55c.
Rye/No. 4,92 tie. Barley. 8208484 c.
Timothy $6.25 0 8.25. Clover $12,000-
21.50.
Card 513.76. «llbs, $12.50. Bellies,
$13.50.
COTTONSEED OIL
new YORK. —Cottonseed oil was
quiet and featureless with the trade
marking time pending new develop
ments. Prices advanced five to nine
points but at the close the market
was unchanged to four points net
higher.
Sales, 4,400 barrel*. Prime crude,
$11.50, nominal; prime summer yel
low. spot. $14.25; September closed
$t.”,35; October. $12.18; December,
sls 86; March, $ll.OO. all bid.
STEEL TONNAGE DECREASES.
NEW YORK. —A decline of 75,433
tons In unfilled orders of the United
States Steel Corporation In July
brought the total at the end of that
month to 3,187.072 tons, the lowest in
13 years, according to figures made
public Saturday. improvement in
steel buying, already reported by E.
H Gary, chairman of the corporation
and bv steel trade reviews, however,
was reflected In the fact that the de
crease was about 300,000 tons small
er than the drop In Junemnd 500,000
ton* below that reported 1n May.
With a continuation of the pres
ent trend of steel bookings. Wall
street expects that an increase fn un
filled orders will be shown on the
books of the corporation at the end
of August, marking a definite turn
for the betfer In the steel Industry.
BAR SILVER.
NEW YORK. Bar silver, 68%;
Mexican dollars. 5284-
Walter P.Chrysler States
The motoring public is rapidly coming to
realize that in practical results the good Max
well is to the four-cylinder field, what the
Chrysler is in six-cylinder practice.
Practically complete absence of vibration,
sterling reliability, new ease of riding and
driving, remarkable performance, and equally
remarkable economy produce for the owner -
of this car a far higher degree of motoring
satisfaction and value.
%
Until you know first hand what the good
Maxwell now is and what it does —you are
simply in no position to judge cars from the
standpoint of the most recent development.
Touring Car, $895; Sport Touring, *1055; Road- /•
iter, $885; Club Coupe, * 1025; Club Sedan, $lO9S ■ X. A ¥9O
Srdan, 31325. All prices f. o. b. Detroit subject to »»'
current Qmemment tax. —' f «
U'e ore ('leased to extend the convenience of time■ President and Chairman of the Board
payment,. A»lt about Maxwell’s attractive plan. Maxwell Motor Sales Corporation, Detroit, Mich.
Delinquent Children of
Georgia Are Not Given
a Chance to Make Good
ATLANTA, GA.—A growing rec
ognition of the claims of their so
cially handicapped citizens is evi
denced by the Increased number
of calls on the department of public
welfare during the past year by
communities, institutions and agen
cies for assistance, according to
the 1924 annual report of the de
partment Just issued.
How much need is for improve
ment particularly in the care given
dependent and delinquent children
is shown by a resume of juvenile
court activities during 1924, which
brings out in a startling manner how
poorly Georgia has been equipped
to prevent her juvenile delinquents
and dependents from developing
criminals and paupers. That one
fourth of her children who come
in contact with the law are treated
as confirmed criminals and tried
Illegally in city and recorder’s
courts; that over 1000 children were
confined with adults in county jails
and city lockups last year; that je
venile courts are functioning in on
ly a few cAintles—largely due to
the lack of trained county welfare
workers—these are some of the
facts brought out.
CHILDREN ARE ILLIGALLY
IN COURTS OF STATE
More than 1200 children under
the age of 16, 1,257 to be exact, were
brought before Georgia courts in
thirty typical counties selected for
the special study. In only 16 of
these counties wefe juvenile courts
functioning and in only 22 counties
had they been designated, although
the naming of a court of record to
serve as juvenile court is mandato
ry on the superior court judge and
although the attorney general has
ruled that when once a court has
been designated the performance of
its duty as a juvenile court can be
enforced bv mandamus. In the 30
counties studied 900 children were
handled bv the Juvenile court and
300 were illegally tried in city and
recorder s courts. If this percentage
holds true throughout the state,
then mors than 5000 children came
before Georgia courts in 1923. 1000
of whom were brought before the
city and recorder’s courts contrary
to the state law.
An unfortunate condition is shown
as to the practice of detaining chil
dren in county jails. The seriousness
of which can only be realized when
it is known that in most instances
children associated in the jails with
adults, many of whom were harden
ed criminals.
In counties where there are no
juvenile courts the length of time
that elapses before a child is
brought before theycrimlnal court
after apprehension was found to be
a most serious matter, because of
the custom of the criminal courts
of being held only periodically.
One of tho conclusions of th&. re
port is that because of the lnck_
AUGUSTA MOTORS, Inc.
577 BROAD STREET.
of functioning of the juvenile courts
only about one-half of the children
of the state who should receive the
protection of such courts really re
ceive it.
JUVENILE COURTS
BADLY NEEDED
The report finds, too. that: The
surprising number of 1257 children
who appeared last year before the
courts of the 30 counties studied
does not represent the true state of
affairs, for in the counties where
the juvenile courts did not func
tion there were practically no cases
of dependency and neglect of chil
dren brought before the ordinary
criminal courts. Evidently, unless
there is a Juvenile court, problems
of these unfortunate clases of chil
dren are ignored, or at least un
known to the courts.
A comparison of thes cases com
ing to the attention of a W’ell or
ganized court with proper equip
ment for investigation and super
vision of cases, and thes ituation in
counties having no such serviee,
shows conclusively the extent to
which delinquency and neglect prob
lems are disregarded. One hundred
and three children were dealt with
bv the juvenile court In a county
where a probation officer had thru
her investigations and supervision
of cases made the court a con-,
structlve social agency in the coun
ty One-half of these cases were
known to the court because of de
pendency and neglect. In compart-
I son. the Juvenile court of a county
with no probation service dealt with
the cases of only 14 children during
the same year, all of whom were
reported because of delinquency.
One of the most Important of the
specific provisions of the Georgia
juvenile court law directs that a
paid probation officer be appointed
in every county in the state, but the
report shows that of the 30 counties
studied only 4 had full time paid
probation oficers.
The big outstanding need in the
state is pointed out to be a welfare
worker in every county who in the
small counties can handle not only
the probation work but the welfare
wprk as a whole to take up in a
blisines-like manner and treat in a
constructive way every case of de
pendency. Georgia, through Us va
rious county out-of-door relief
funds is annually spending one
half million dollars and only in 15
counties are there welfare workers
to se that this is wisely and help
fully expended.
MORE CONSTRUCTIVE
WORK IS NEEDED
Lack of constructive work by
to result in added burdens being
carried either by the state gov
ernment or state groups supporting
institutions for the care of the de
pendent and delinquent. It is found
for example that nearly 3000 cliil-
SUNDAY, AUGUST 10
STOCKS AND
BONDS.
dren are cared for in the orphan
ages of the state at an annual
expenditure of over $600,000, 16 per
cent Of the children being there be
cause of the desertion of fathers,
31 per cent or almost one-third,
because of the death of their fa
ther. While this large percetnage
is partly due to a poor state deser
tion law and the lack of state pro*
vision for mothers’ pensions, mj*
doubtedly the large number of brok
en families indicates also the ur
gent need of trained welfare work
ers in the local communities, for
many of these homes were broken
up wholly because local untrained
persons “who were conscientiously
trying to help the families did not
know of anything else to do except
apply to the institutions for admis
sion of the children.
According to the report the de
partment of welfare has in every
possible way tried to bring to MS
nificance of such conditions befoie
the people of the state and finds
many counties awakening to the
need of constructive treatment for
their socially handicapped citizens.
During the past year the depart
Sent has added to its staf a field
agent trained in community organ-
S Whose duty is to
communities desiring help
rection in organizing for fami .
service and probation and C( ?"
_iit. a nrp ursrod to ca.ll on tne o
pirtSent fo/this advisory service.
LIVESTOCK MARKET
GHICAGOhCATTLE. .SHEEP AND
CHICAGO. 111. —Cattle: Kae»lpti
500; compared with week ago weighty
fed steers, 75c lower; yearlings and
handywelght moderately active. 25c to
50c lower; canners and cutters ®
to 23c lower; vealers
higher; fed steers and jeanmfs *
010.65; Stockers and feede”’ S'4
6T5; canners and cutters $2.25 0 3.50.
veal calves, $9.50@10.<0.
Hoes'. Receipts 6,000; .steady to 100
lower light lights and killing
weak’to 25c off; top $10.30; bulk good
and choice 2600325-pound butchers
$10.00010.25; packing *o**. *£soo
8.90; desirable strong weight slaugn
ter pigs, $9.00@9.25.
Sheep; Receipts 1.000. com P^ r *®
with week ago, fat lambs „! vfe , k .
25c lower! sheep strong to „> c h| h' g h;
er* feeding lambs around 2oc higher,
hulk prices , for week: Rjl'Se lambs.
Sl3 35(0)13.7»: natives $12.75©u3-*o,
fat ewes, $5.50 0 7.50; feeding lambs,
$12.20013.00. _____
LIBERTY BONDS
NEW YORK.—u. S. government
bonds closed: 4 t
First 4 Bis «2.1 J
Second 484 s Jsl’?2
Third 48i s W 2 H
Fourth 4Vis 10 ““'
U. S. government 4%.s 10b
MONEY IN COTTON
$lO BUYS GUARANTEE OPTION ON
20 hales of cotton. No further rise.
A movement of $lO from option price
gives you an opportunity to take
$200; $5, SIOO. etc. WRITE TODAY
FOR PARTICULARS and FREE
MARKET LETTER. ,
Investors Daily Guide, S. W.
Branch, Dept. E-9., 1016 Baltimore
Ave., Kansas City, Mo.