Newspaper Page Text
TUESDAY, SEPTEMBER 30
COTTON AND
GRAIN.
THE WEATHER
(Forecasts till 8 a. m. tomorrow)
' Augusta and vicinity: Fair tonight
and Wednesday; cooler tonight.
Georgia: Fair tonight; cooler in east
portion; Wednesday fair.
Weather Conditions.
The storm which was over Georgia
yesterday morning is centered on the
North Carolina coast this morning
During the past 24 hours It caused
general rain in the states along the
Middle and South Atlantic coast-,
with heavy downpours in many places.
The advance of high pressure from
the west is attended by fair weather
and lower temperatures.
Weather Data.
Highest temperature yesterday 75
degrees: lowest temperature thiß
morning, 58 degrees.
River stage at 8 a. m,. 25.5 ft.
Rise in 24 hours ending 8 a. in., 6.5.
Hoon tonight: Sets 7:51 p m
Relative humidity yesterday: 8 a.
m., 98; 12:30 p. m.. 98; 8 p. m.. 95
E. D. EMIGH.
AUGUSTA COTTON
Spots 24.63
Monday . . . 24.88
Last Year. . 27.50
PRICES BY GRADE
Close
Middling fair 25.63
Strict good middling 25.38
Good middling 25.13
Strict middling 25.06
Middling 24.63
Strict low middling 23.63
liOW middling 22.63
Strict good ordinary 21.88
Goo dordinary 30.88
CLOSING QUOTATIONS ON
NEW ORLEANS AND NEW
YORK COTTON EXCHANGES
The following quotation* from New
Orleans and New York were posted
on the Augusta Cotton Exchange
Tueday:
NEW YORK
Pres.
Open High Low Close close
Jan... 25 15 25.15 24.60 24.70 24 90
Mar... 25.50 25.30 24.50 24.92 25.15
May... 25.50 25.50 25.17 25.17 25.40
Oct... 26.25 26.25 25.42 25.50 25.80
Dec... 25.15 25.15 24.55 24.68 24.90
NEW ORLEANS.
Prev.
Open High Low Close close
Jan... 24.88 24.94 24.45 24.60 24.81
Mar... 25.02 25.03 24.6 S 24.77 25-00
May... 25.10 24.80 24.87 25.08
0ct.... 24.65 24.87 24.42 24.59 24.79
Dec... 24 90 24.95 24.40 24.67 24.81
NEW~YORK~COTfON
NEW YORK—The cotton market
opened steady Tuesday at an advance
of 11 to 25 points on relatively, firm
Liverpool cables and a continuation
of Monday's buying movement! Octo
ber sold at 26.25 and December at
25.15 on the call but hedging and real
izing turned prices easier. Selling
was promoted by expectations of im
proving weather in the western belt
and the absence o? any frost damage
reports in the southwest. A private
crop report estimated the condition
at 54.2 and the indicated yield at 12,-
409.000 bales slightly higher than re
eent forecasts. October broke to 23.66
and December to 24.69 with the early
market showing net declines of about
14 to 20 points.
Forecast for clearing weather in the
-•astern belt fair with higher tem
peratures in the southwest seemed to
stimulate selling. Considerable liqui
dation on the decline carried prices
< to 25.42 for Oetnher and 24.55 for
December or about 30 to 38 points net
lo'cer.
Trading became quieter but the
mid-afternoon market held fairly
fteadv on covering. December sold
around 25.80 at 2 o'clock when the
general list was about ten to 20
points net lower.
NEW YORK SPOTS
NEW YORK—Spot cotton quiet;
middling, 25.75.
NEW 'ORLEANS COTTON
NEW ORLEANS.—The cotton mar
ket had a very Irregular but active
opening Liverpool came in much
better than due and New York open
ed higher. The market Improved
after the call on active buying here
against sales in New York. October
traded up to 24.87, December to 24.95
and January to 24.94 or 12 to 14
points above the previous close. The
market then quieted down and fluct
uated within a narrow range without
definite trend. The map was dry
except In the Atlantics hut tempera
tures were low over the entire belt
but no frost was shown.
The market turned easier as the
morning advanced on active profit
taking, some hedge sell'ng and also
aslling based on the official forecast
for generally fair and warmer weath
er in *he belt, October traded down
to-24.46. December to 24.49 and Jan
uary to 24.45 or 42 to 55 points down
from the earlv highs and
points below the previous close. Late
In the morning there was a rallv of
29 to 25 points due to light frost In
'he north central belt and snticioa
• on of an unfavorable weekly weath
er report Wednesday.
L The market eased off around noon
Vi hedge selling and profit-taking and
rVtober and Match made new lows
fehlle the other active months fell off
nearly to the earlier lows. Good buy
ing was encountered on the decline
and October rallied in the earlv aft
ernoon from 24.42 to 24.65 and the
later months made about equal re
coveries.
NEW ORLEANS SPOTS
NEW ORLEANS, La.—Spot cotton,
steady, 20 points down. Sales on
the spot 644 bales; to arrive 615. Low
middling, 22 70; middling. 24.00; good
middling 20.26. Receipts, 23,167; stock
129,138.
LIVERPOOL MARKET
LIVERPOOL—Cotton spot fair de
mind; prices steady
Strictly good middling 16 13
Good middling 15.43
Strictly middling 15.28
Middling 14 93
Strictly low middling 14.73
Low middling 14.23
Strictly good ordinary 13.83
Good ordinary 13.23
Sals 6.009 bales Including 2.900
American. Receipts 29.000 bales
including 24,600 American.
Futures closed easy:
October 14 24
December 14.07
January 14.09
March 14 09
May 14.99
July 13.86
Official noon closing: September
(1324) 14.78 value.
CALL MONEY
NEW YORK.—CaII money, firm,
high. 24; lon 24; ruling rate, 24;
closing bid. 2Vj: offered at 2*4; laat
loan. 24. call loam against accept
ances. 2 V!.
Time loan*, firms.’; mixed col
lateral 60-90 day*. 24®294; four-six
month*. 3®34. Prime commercial pa
per. 35314.
SUGAR MARKET
NEW YORK—Raw sugar. un
changed at 6 03 for ipot Cuban dutv
paid. Refined, unchanged at 7.16 to
740 for fine granulated.
=Financial and Commercial News=
Market Closed Steady;
Augusta Spots 24.63
By W. A. LUFBURROW.
Market Editor
Improved weather condition brought
about less bull activity in the cotton
market Tuesday And on the close spot
cotton at Augusta was quoted at
24.63. a decline of 25 points from
previous closing quotations. Trad
ing took a slump and the bull out
look dropped some and it is believed
by many cotton men that further de
clines will come with fair weather
ar.d some are advising sales at this
time. Actual demand is small.
Unfavorable weather condition over
a large portion of the bOlt should
serve to retard very much bear pro
gress Reports from various sources
relative to the condition of the crop
are bullish and there should he n re
flection of this condition in the mar
ket. Grades are reported to have
been damaged. Conditions generally
speaking are unfavorable for a great
deal of bearish activity.
Without a real deman in the mar
ket, it is possible for the professional
speculator to manipulate things his
way for a while at least. It would
seem that many would be reluctant to
sell short In the face of the reported
damage to the crop. If this holds
then a heavy decline in the market is
not altogether likely at this time.
However, it is not possible to tell
what will take place.
Discussing the cotton crop, W. J.
Wollman & Company, of New York,
says:
“The last bureau report on the cot
ton crop, issued Tuesday, September
23, Is likely to have a widespread ef
fect in determining the trend of tex
tile activity and the prices of cotton
goods. The Department of Agricul
ture placed the condition of the cot
ton crop at 65.4 and the Indicated
yield at 12.596.000 bales. General trade
expectations for the yield had been in
the neighborhood of 13,000.000 bales.
As a result of these anticipations
there had been a disposition on the
part of buyers of goods to withhold
purchases, while cotton manufactur
ers have been encouraged to hold off
in respect to stocking up with raw
material.
“This situation has undergone a
a decided change. While there U
the usual inclination to cast doubt on
the accuracy of the bureau figures,
this appears to be nothing more than
the customary practice of indulging in
criticism where private forecasts have
gone astray. The Crop Reporting
Board has nearly 40.0CQ correspond-
CATTLE MARKET
(Corrected by Augusta Stock Yards.)
Common 2
Ordinary 3 @3%
Good ?%g4
Fancy 4V5@5
CALVES.
Common 4 @5
Ordinary 6 ®7
Good I
Fancy 8 @ s t*
HOGS.
Corn fed (according to size). 8 <9 9
forlignlxchange
NEW YORK.—Foreign exchanges,
firm. Quotations In cents:
Great Britain, demand 4.45 7-16; ca
bles, 4 45 11-16; 60-day bills on banks,
4.42 11-16.
France, demand 5.27; cables 5.27%.
Italy, demand 4 37; cables 4.37%.
Belgium, demand 4.82Vj; cables, 4.83.
Germany, demand, per trillion, .23%.
Holland, demand 38.54.
Norway, demand 14.17.
Sweden, demand 26.59.
Denmark, demand 17.39.
Switzerland, demand 19.08
Spain, demand 13.84
Greece, demand 1 74.
Poland, demand 19%.
Czecho-Slovakla, demand £.97%.
Jugo-Slavia, demand 1.88%.
Austria, demand .0014%.
Rumania, demand 52.
Argentina, demand 36.10.
Brazil, demand 10.65.
Tokio. demand 40%.
Montreal, demand 100.
DAIRY MARKET
CHICAGO BUTTER, EGG AND
POULTRY RECEIPTS.
CHICAGO.—Butter, higher; cream
ery extras, 35%036%c. Standards.
34c; extra firsts, 33%if134%c; firsts,
31%@32%c; second, 30®30%e.
Eggs, unchanged, receipts, 8,892
cases.
Poultry, alive, lower; fowls, 17©-
23c; springs, 23%c; roosters, 14Vic.
NEW YORK BUTTER. EGG AND
CHEESE RECEIPTS.
NEW YORK —Butter, firm.
Eggs, firm; fresh gathered seconds
arul poorer, 33@3Sc.
Cheese, steady.
Live poultry, nominal; dressed poul
try, weak; prices unchanged.
PRODUCE MARKET
Flour—Hard wheat, 98-lh. cot
ton sacks, bbl $7.75
Flour—Plain, 98-lb. ska., bbl.. 770
Flour —S.-R, sks., bbl 7.80
Flour—S.-R., 48-lb. sks.. bbls... 7.15
Flour—Best plain, 98-lb. sks.,
barrel 6.75
Flour—S.-R., 24-lb. sks., bbl... 7.10
Flour —S.-H., 24-lb. sks, bbls.. 6.55
Buckheat, 24-pkg. case ......353
Grits, 24 2s, per case 1.90
Grits, 12 3s. per case 1.99
Grits, fine and medium, 96s
per sack 2 49
Meal. 965, per sack 2.50
Meal, 48s, per sack 1.22%
Meal. 245. per sack 65
Rice —Fancy, No. 864 or Nd. 113,
100-lb. sks.. lb 06%
Rice, fancy, No. 68, lb 07%
Wesson Cooking Oil, 24 pints.. 5.75
Wesson Cooking Oil, 12-qt. case 5 49
Wesson OH, 6 1-gal cans, case. 9.80
Axle Grease, 10c size, 1-lb., 4
dozen 3 75
SEEDS.
Amber Cane, 150-lb. sks 50
COTTONSEED OIL
NEW YORK Cottonseed oil closer
steady:
October 10.43
November 10.22
December 10 27
January 10,34
February 10.2.0
March 10.64
April 10.156
May 10.77
Sales 35,700.
LIBERTY BONDS
NEW YORK—U. S government
bonds closed:
Liberty $100.26
First 4s hid 10210
Second 4* bid 101
First 4y* 10216
Second 414* 101 19
Third ft/.* 102.3
Fourth 4i/s 102 20
Treasury 414* a.. 100 5
St. Louis Cash Grain
ST. OUIK c»*h grain: Wheat No.
2 red, $1,46 31.51: No. 3 *1.4131.69.
Torn No. 2 white, $1,144; No. 2
yellow, ft 12.
Oaf No 2 white, 513516401 No. *,
494359 c.
BAR SILVER.
NEW YORK.— Bar sliver 704:
Mexican dellsrs, 54.
ents in the cotton belt, and replies
from these Individuals are checked by
trained observers and a corps of ex
perienced statisticians. Crop report
ing is not yet an exact science, but
it is making strides year by year. It
will bo. violating no tradition or pre
cedent if those who now condemn the
department estimate ns being too low
suddenly come to the conclusion that
a still further reduction In crop esti
mates is called for by recent develop
ments.
“This has been a most peculiar sea
son in cotton. A severe winter which
killed off a large proportion of adult
weevils, was followed by an effort
to plant an acreage of record breaking
rise. The crop might have been of
major magnitude had It not been for
a late and unfavorable start which
was further complicated by a pro
tracted mid-summer drought that
checked the development of a crop
that already was late. The weevil
did not do its expected damage, but
the hot. dry weather over the cotton
belt this season was of unusual in
tensity and duration. Rains recent
ly have fallen over a wide area, but
the benefit they will afford will de
pend largely on the prevalence of un
usually favorable weather and a late
frost.
“Meantime, the textile industry is
improving. It probably has a latent
strength that has been underesti
mated. Scarcity of finished goods is
likely to be disclosed with the ndvent
of any aggressive buying movement.
This could hardly he otherwise in view
of the heavy curtailment that has
brought about a decline in produc
tion amounting to something in the
neighborhood of two billion yards of
average standard construction. Al
ready this condition is being disclosed
in Lancashire. Manufacturers there
are said to have booked orders 66
per cent in excess of production, and
are now far behind with deliveries.
Output will have to be extensively In
creased if Lancashire manufacturers
are to keep their customers satisfied.
"It would be quite consistent with
precedent if the textile industry, so
long depressed, should make a sharp
turn for the better, and develop into
a sellers’ market. No one who has
been In close touch with the situation
believes there is a burdensome stock
of goods except In a few lines. On
the other hand, buyers in several Im
portant constructions are said to be
complaining about the deliveries they
are able to obtain, now that they
have begun to place orders.”
MUNICIPAL PRIMARY
Books at Aiken to Open Oct.
6 th
AIKEN, S. C.—The books of
enrollment of the Aiken Municipal
’ Club will be opened Monday morn
ing, October 6th, and all qualified
voters who desire to participate in
the approaching city primary elec
tion are expected to enroll prompt
ly. There will he two voting pre
cincts, known as precinct No. 1. (up
town), and precinct No. 2 (down
town). The book for the up town
precinct will be at the office of J.
W. Ashhurst, while the hook for
the down town precinct will he at
■ the store of C. M. Bishop on Dark
avenue. All voters who reside east
of the Columbia road, where it en
ters the city limits of Aiken up to
its intersection with Hampton ave
nue. thenco up Hampton avenue to
its intersection with Chesterfield
street and along Chesterfield street
and out to the Whiskey road to the
city limits will enroll at tho down
town precinct at Mr. Bishop’s store,
while all parties west of said line
will enroll at the uptown precinct
at Mr. Ashhurst's office. The reg
istration committee for precinct No.
1 (up town) is H. It. Ashhurst, E. S.
Henderson and Dr. Maud Tupper;
while tho down town registration
committee is C. M. Bishop, I*. B.
Glover and Mrs. G. A. T. Moseley.
NEW AGENT FOR
BARNWELL COUNTY
AIKEN. R. C. —Miss Lula Cliies
man of Alllsona, Tenn., has been
secured by Miss Bessie Harper,
district acrent with headquarters In
Aiken, as home demonstration agent
for Bar A well county, to succeed
Miss Elma Cave, who resigned as
agent to take charge of the home
economics work of the Barnwell
schools.
Miss Chrlesman will begin work
October Ist. Miss Chrlesman comes
to South Carolina with splendid
recommendations. She has had six
years experience as n demonstra
tion agent. She was also in charge
of the home economics department
at Burritt College, Spencer, Tenn.
Miss Chrlesman was reared in one
of the progressive communities of
Tennessee, and is thoroughly in
sympathy with rural people and
their problems.
She will commence reorganizing
clubs immediately after her arrival.
Anyone desiring nny Information or
help along her line should com
municate with her at Barnwell, S.
C.
CALLAWAY TRIAL
TO BE HELD TUESDAY
AIKEN, 8. C.—The preliminary
trial of W. R. Callaway, formerly
bookkeeper for the Holley Hardware
Co., who was recently arrested on
a warrant charging him with mis
appropriating funds of that con
cern, the amount being something
over 83,000, will he held Tuesday
before Magistrate Rahorn at the
court house. Much Interest Is felt
In the case, and It is expected that
the court room will be crowded
during the hearing. Mr. Callaway
has employed Williams, Croft A
Busbee bh his attorneys. He pro
tests his Innocence of the charge
brought against him. and some
sensational developments are ex
pected.
Bumper Crop from
Wheat Found In
Egyptian Tomb
TACOMA. Wash.—F. S. Johnson
a farmer near Morton, Wash. hat.
Just harvested a bumper crop ot
wheat, that he says came from seed
laken from an Egyptian tomb. Mr.
Johnson says he got the se*d* four
years ago and this year the Inn ease
was enugh to plant 15 acres. H»
has Just finished harvesting the
crop, which netted 72f» bu*hel3 or an
average of 46 6 bushels to the acre.
The grain is white and very hard,
the straw short and the h*ads
prolific and Mr. Johnston says It Is
one of the best varieties of spring
wheat he has ever grown. It was
not learned from what tomb the
wheat was obtained.
THE AUGUSTA HERALD. AUGUSTA, GA.
N. Y. STOCK MARKET
NEW VORK. Reactionary price
movements prevailed at the opening
of Wednesday's stock market, further
selling apparently being Induced by
tlie stiffening of money rates. Initial
changes, as a rule were small. Oils
continued to react on unfavorable
trade news and the low and medium
priced rails fell back on profit-taking.
NEW YORK STOCK LiST.
Early declines were extended to a
point or more in a dozen stocks, in
cluding Atlantic Refining, Famous
I’layers, Cushman's Bakery and Texas
Gulf Sulphur while American Can,
Baldwin, Colorado Fuel and several
others yielded fractionally. Subse
quent bidding up of Atchison and
other rails and Public Utilities stead
ied the list. Consolidated Gas of
Baltimore was lifted nearly three
points to n high record at 151-)*
while Colorado and Southern touched
a new top at 42%, up 1%. General
Electric, Missouri. Pacific preferred
and American Foreign Power and the
certificates advanced a point or more.
Foreign exchanges opened steady.
Profit-taking began in the general
list when General Electric suddenly
broke over four points from its high
figure and Northern Pacific and Un
ion Pacific became weak. Previous
ly there had been quite an array of
substantial advances in a varied as
sortment of stocks with Goodyear
Rubber preferred touching 68 and
St. Louis and San Francisco pre
ferred 69 both new high figures.
The closing was Irregular.
Snles approximated 750,000 shares.
NEW YORK STOCK LIST.
Close
Allied Chemical and Dye 73
American Can 128%
American Car and Foundry 165
American International 26%
American Locomottve 1 799*
American Smelting and Kcfg ... 7 3(4
American Sugar 4614
American Tei and Tel 1274*
American Tobacco 161 Vs
Amedican Woolen 57%
Am Zine, Lead and Smelt 16
Atchison 108
AAnaconda Copper Kb
Atlantic Coast Line 1K4%
Baldwin Locomotive 122
Baltimore and Ohio 63U
Bethlehem Steel 43’*;
California Petroleum 215 j
Canadian Pacific 147 ■,»
Central Leather 13*4
Cerro de Pasco 45(4
Chandler Motors 85 \
Chesapeake and Ohio 86%
Chicago and Northwestern 614*
Chi, Mil and St Paul pfd 20%
Chi, U I and Pac K 3%
Chile Copper 32%
Coca-Cola <7
Colorado Fuel and Iron 42%
Congoleum 45-4
Consolidated aGs 73%
Corn Products, new 36
Cosden Oil
Crucible Steel 5594
Cuba Cane Sugar pfd 6<j%
Davison Chemical 47%
DuPont de Nemours 132
Erie 28
Famous Players-Lasky BSG
General Asphalt 46%
Generali Electrlo 258%
General Motors *1
Great Northern pfd 02%
Gulf States Steel 71V4
Houston Oil 72%
Illinois Central .....11l
International Harvester 94'A
Int Mer Mar pfd ' 39%
Int Tel and Tel 83(4
Invincible Oil 13%
Kclly-Springfleld Tire 18V.
Kennecott Copper 46%
Louisville and Naenvllle 99
Mack Truck 95%
Marls nd Oil 31%
Maxwell Motors A 61%
Middle States Oil 1%
Missouri, Kan and Tex 16
Missouri Pacific pfd 58%
National Lead 155
New Orleans, Tex and Mex 107
New York Central 107%
N Y, N H and Hartford 25
Norfolk and Western 65
Pacific Oil 48%
Pan-Am Petro B 55%
Pennsylvania 45
Produce-s and Refiners 25%
Pure Oil 22%
Reading 61%
Republic Iron and Steel 4ft>,4
Reynolds Toh B 77
Seaboard Air line 14%
Sears-Roebuck 105
Slosr-Sheffield Steel and Iron ... 71
Southern Pacific. 55
Southern Railway 69%
Southern Railway pfd 76
Stundard Oil of Calif 57
Standard Oil of N. J 35%
Studchaker Corporation 41%
Texas Co 40
Texas and Pacl/ic 37%
Tobacco Products 67
Transcontinental Oil 4%
Union Pacific 139%
United Drug 941/.
U S Cast Iron Pipe 114%
U S Ind Alcohol 70
United States Rubber 35
United States Steel 108%
Utah Copper 75%
Westlnghouse Electric 62%
Wlllworth 11l
CHICAGO CASH GRAIN
CHICAGO, 111.—Kresh buying on the
part of houses with export connec
tions lifted the wheat market Tues
day to a new higher price record
both for the December and the May
delivery. Opening prices whl'-h ranged
from %e lower to %c higher were
followed by a slight additions) sag
for deliveries and then by material
gains all around.
Corn and oata turned upgrade owing
to sympathy with wheat. After open
ing at %c off to V4c up corn showed
a moderate general decline and then
scored gains.
Oats started unchanged to He
higher and later held near to the
Initial range.
IBgher quotations on hogs steadied
the provision market
Wheat closed unsettled He to 2%C
ne* higher.
Corn closed Irregular at %c net
lower to tie gain.
WHEAT—
Ctien Hleh Low dost,
Rept .... 138% 149% 138 139%
Dec 149% 142 H 149% 141%
Mav .... 1461,4 148% 146% 147%
CORN—
Sept .... 113 11344 112% 11214
Dec 199% 111 119% 109%
May .... «**% 113 111 111%
OATS—
Rept 49% 69% 48% 69%
Dec 62% 53% 6244 62%
May 56% 57% 65% 56%
LARD—
Rept ... 1387 1396 13«7 1395
Get ... 1387 1*99 1377 1377
Nov .... 1385 1399 1382 1322
RIBS—
Sept ... 1129 1189 1189 1189
Oct ... 1185 1185 1185 1185
Nov ... 1195
BELLIES—
Rept ... —— I*B9
Oct .... 1342 1*45 1*42 1246
Nov ... 1355 1335 1355 1355
Chicago Potato Market
CHICAGO, in’—Potatoes: Trading
slow, market about steady; Wlscon
sln sacked and bulk round whites,
$1.00©1.10; Minnesota and North Da
kota sacked Red River Ohio* sl.oo©-
1.05; South Dakota sacked early Oh|o«
fl. 00; Colorado sacked peoples russet*
$1 35C1.60, according to ousllty,
CHICAGO CASH GRAIN
CHICAGO, 111—Wheat No. 3 hsrd,
$1 4001.414
Corn No. 2 mixed $1.13©1.1*4; No. 2
yellow, $1.13© 1 1414.
Ost* No. 2 white, 614352 c; No. 3
while. 49® 50c.
Rye No. 2 31.304 R.-riey, *2©94e.
Timothy fed $4 731*6 33.
Clover «eed sls 50325 sft
I.srd $14.00. P.lbs, sl2 00. Bellies,
$13.02
NAVAL STORES
SAVANNAH NAVAL STORES
SAVANNAH. Ga.—Turpen'lnc, dull,
62c. Sales, none; receipts, 063; ship
ment*. 91; stock. 11.101
Rosin, firm. Receipt* 2 301; sh'p
ment*. ; stock. 102,233
Quote; R r« E $5.20: K F G H 15 20-
3 5 25, I 95.23. K 15.2501.25: M $5 30-
*>s 40; N $5 5005 50; window glass
15 33©0.40; water write $7 00, X, $7 20.
Needs of Agriculture
Discussed By Bankers
CHICAGO, 111.—The need of a bet
ter realisation on the part of busi
ness men of the fact that agriculture
is absolutely controlling In hll busi
ness was stressed by former Secre
tary of Agriculture E. T. Meredith in
an address to members of the Ameri
can Bankers Association in conven
tion at the Auditorium Theatre here
today,
“The opportunity to go into bank
ing, the publishing business, to mar
ket groceries, to establish a drug
store, all these,” said Mr, Meredith,
“in the final analysis have been given
to us because of agriculture. The
conditions In agriculture from year
ea year affect every otto of these in
stitutions most vitally.
“The income from agriculture—and
consequently its support of business -
Is regular, not hit and miss or spot
ted throughout the year, ■ and not
largely all in one season of the year
as many business men seem to he un
der the Impression It is, „ When one
single source of farm Inooibe tnkes a
slump, the calamity howlers make so
much of It that Bome are led to over
estimate Its effect upon general busi
ness, as was the case with wheat.
One would think that the farmer re
ceived his entire income from wheat:
and vet 1922 production figures show
that the farmer received less for Ills
wheat than he (ltd for his enrn, hay.
cotton or vegetables, as well as from
several sources of animal product In
come.
THE RESULT OF DECREASED
INCOME TO THE farm.
“It Is true that a decreased Income
from any one farm product such ns
wheat Is a serious mow to the farm
ers who are depending on this one
crop for their major Income, hut wo
should keep In mind, when considering
agriculture as a whole, that a slump
in any one product <toes nut material
ly impair agricultural purchasing
power ns a whole. The idea that the
farmer gets his Income in tho fail Is
quite prevalent and Just as erron
eous. An average distribution of In
come would be 8.3 per cent each
month which Is not very different
from the farmer’s actual experience.
"Another Important feature that
business men should consider Is tho
farmer as a buyer under any and all
oonldtlons There are six and one
half million fnrms In the United
States, each one tn reality a small
factory. Altogether they are going
to spend ten, twelve or fourteen bil
lion dollars a year Just to keep going,
no matter whther they make money
or not. no matter whether they have
a surplus or not. Throughout the year
THERE***? BACK
qjjj FOR 7to lO YEARS
But then it’s through—unless you
0- MMM 1 don’t mind the repair bills-and
ASR \ The Packard Six is good for 7to
THE MAN j 10 years or more.
V|||i |fj ° N 1 y I* B repair costs have hardly started
x I PllfliTS 'ivlml by .the time the owner of ah
I ordinary car is half way through
yj| /| V/ ■- Andall^the^ while, in.every mile.
More miles to the gallon of oil*
AUGUSTA MOTORS, Inc.
'■®2iSs* PACKARD
Many prefer to take advantage of Packard’s extremely
liberal time-payment plan to enjoy immediately the TBT Mf*
advantages of a Packard Six or Packard Eight— I
purchasing out of income Instead of capital, just H
as practically all other necessities are now bought W JL, JBk,
they need large quanittles of food
stuff. breakfast foods, flour, soap and
canned fruits and supplies of all
kinds. There are eleven million men,
as many women nnd twenty million
children on these farms nnd they uli
buy or have things bought for them.
THE RELATION OF THE
farmer to the nation.
“Because the farmer is such an Im
portant factor in the nation you and
1 should take an actlvo, earnest in
terest in seeing that he gets a square
deal. It is a service in behalf of the
country, yet few have taken any In
terest in such matters as tax free
bonds. We have a Farm Loan Act
the bonds under which are tax free,
but an effort hns been made to get
that particular feature revised so
that the bonds will not be tax free.
So long as municipals are tax free,
why not farm loan bonds. 1 wonder
how many of you have helped the
farmer any In his fight.
"One cattle tick In Fobruat. means
12,001) in June and 12,000.000 In Sep
tember. A cow can cope with one
tick in January amt February. Then
it is one cow and one tick, but In
September It Is 12,000,000 ticks and
no cow. That cattle owner doesn't
come to market, nnd his money doe 3
not circulate and ninke business for
your customers. You are vitally in
terested In what is being done to kill
the tick. We lose 3200.000.000 a year
In the south through the boll weevil.
Tn the northwest we lose 200,000,000
bushels of wheat annually on account
of tile wheat smut. llts eradication
eventually uionnß money to the city
business man. The appropriation
for the Department of Agriculture is
one-fourth of one per cent of the total
government appropriation*, nnd that
is all. 1 urged the appropriation lie
Increased to omount to the difference
between one-fourth of one per cent
nnd one-third of one per cent. Til4
politicians would not grant it because
they feared being criticized by th*
taxpayers. It is time you and other
taxpayers Interest yourselves in how
the tax money is spent."
SAVING DEPOSITS
In U. S. Banks Show In
crease of $18,000,000
CHlCAGO—Having* deposits in
909 hanks distributed throughout
the United Stntoa Increased near
INVESTMENTS FOR OCTOBER
FUNDS
Rate To Yield
Columbus, Ga. 5 s 4.40%
Clarke County, Ga. 5 s 4.40%
Thomasville, Ga. 4J« 4.50%
College Park, Ga. 5 s 4.60%
Brunswick, Ga. 5 s 4.60%
Sumter Co., S. C. 5 8 5.00%
Warren Foundry and Pipe Co. 6£s 6.60%
Ellis Ice and Coal Co. 7 s 6.90%
Robert Fulton Hotel Co. 7 s 7.00%
CITIZENS AND SOUTHERN CO.
ly 318,000,000 during August, , c _
cording to reports to the ftd-aJ
reserve bflard. Increases occii-t
In all federal reserve districts
eopl Chicago but amounted to 1 g
than 0.5 per cent In all exc*,*
Cleveland where an Increase of 5
per cent followed an Increase * j
2 5 per cent in July.
Total savings deposits were 0
per cent greater in September *
Ilian on August 1 and seven per
cent greater than on September 1,
1923.
FAIR WEATHER
To Continue Here—Will Be
Cooler
True to the forecast of Monday
morning. Tuesday dawned generally
fntr. with scattered clouds, hut before
noon, the sky was practically * solid
blue. Tho temperature dropped to
58 degrees Monday night, which Is the
lowest mark reached since Septem
ber 11, when the mercury fell to 54 de
grees At present, bureau attache*
jay. temperature* over the country
nre normal The fair weather Is ex
inected to Continue at least through
Wednesday. Tuesday night will be
cooler.
In Ills dally comments on general
weather condition*, E. D. Emigli,
meteorologist of the bureau, says:
“Tile storm which was over Geor*
gli yesterday morning Is centered on
the North Carolina coast this morn-
Ing. During the past 24 hours it
State Bureau of Markets
Prices below are those which w holer,alers are n»ylng F. O. B. these
consuming centers To arrive at prtcea net shippers, deduct freight to
most favorable point.
Atl'ta Aug ta Macon Sav'nab Col'bus
Sweet potatoes, Yel. bulk load- „
ing, 100 pounds ) 3 3.00 33 25 33 00 |2 50 3 2.75
Irish Potatoes, No. 1 new, per
per 150-pound sack 255 290 3.r0 2.75 2.75
Ter ISO-111. sack 1 76 1 76 1.75 2.00 2.00
Black eye peas, pound .05% .05% .05% .05(4 .00%
Brown eye peas, pound .04 . ' .40 .37
Eggs, fresh candied, dozen .36 86 .22 .21 -37
Stags, pound 23 23 .32 .21 -21
Hens, pound 23 24 .22 25 .22%
Roosters, pound .12 .11 .11 .11% -13
Friers 1114! broilers, 1 to 2 lbs.
pound 37-2* .27 26 .32 32-24
Ducks, pound .20 .15 15. 25 *
Geese, pound 10 .11 10 .12% •
Turkey Chens), pound 25 • —• • .25 *
Turkey (toms), pound 25 • • 25 •— ——
Country butter (best table), lb.. .35 .33 .35 .35 .35
Country butter (rooking), pound. .20 31 .20 IS .30
Ga. cane syrup (Bbl.), gal 75 75 70 .75 .75
Corn meal, per 69-lb. sack .... 2.80 2,80 380 290 2.85
Corn. No. 2, (ivhlte) sacked, bu. 1.42% 1.45 1 42% 1.46 1.45
Oats No. 2 (white) sacked, bu.. 67 69 67 69% 67%
Peavlne hay, ton ft 00 22 00 Jl 60 22.50 22.00
THIRTEEN
STOCKS AND
BONDS.
caused general rain in the states
along the Middle and Uouth Atlantic
coasts, with heavy downpours In
many places.
“The advance of high pressure from
the west Is attended Dy rair weather
and lower temperatures."
LIVESTOCK MARKET
— * —
CHICAGO CATTLE, HOG AND
SHEEP RECEIPTS.
CHICAGO, 111.—Bogs: Receipts 15 -
000. mostly 10c to ’,sc higher; better
i*o®22s-ponnd weight, $10.40*10.70;
matorlty good and choice 250*1350-
iound butchers, 310.80@10.60; paek
o* bows largely »8 90@9.20; pigs
uvgtly J9.00@9.50
Cattle' Receipts 8,000, fed steers
M yearlings strong to Isr h'gher.
1-st yearlings. 311.50; fed steers and
yirlings 38.50@10.50; good to choice
bes heifers fairly active; bulls very
«hv weak to unevenly lower; few
he, * bolognas above $4.25; vealers
25r 50c higher: bulk to packers,
tU S °Recelpts 26.000, fat native
inm strong to 25c higher; westerns
then;- to strong; hulk natives. *1- ,8
0713.9: good to choice range lambs
313.0(813 25; sheep «nd feeding lamb,
stead: fat ewes strongly $4 75*76 ?.
choice feeding lamb* early *12.75@-
18.00; fading ewes, ss.6o® iB.
ATLANTA CATTLE AND HOO
RECEIPTS.
ATLANTA. Ga.—Cattle: .Receipts
100: slow undertone, weak; l'Rht
steers am) mixed lots to feeder ac
count 33.75* 4.25; bulk beef cows
33 25*8.75. scattering sales UP ward to
34.50; canntr* and cutters $2.00*2.70.
Hoga: Receipts 300, strong.