Newspaper Page Text
MONDAY, OCTOBER 20
COTTON AND
GRAIN.
THE WEATHER
(Forecast till 8 a. m. tomorrow)
Augusta and vicinity: Generaly fair
tonight and Tuesday; slightly cooler
Tuesday.
Georgia: Generally fair tonight and
Tuesday except probably rain near
the coast; slightly cooler Tuesday in
north portion.
Weather Conditions.
The tropical hurricane is centered
west of Florida north of Key West.
The winds at land stations have not
yet been very high but heavy rain
has fallen at Ft. Meyers.
Generally fair weather prevails in
other sections, with moderate tem
perature.
Weather Data.
Highest temperature yesterday $5
degrees; lowest temperature thla
morning 51 degrees.
River stago at 8 a. m., 3.5.
Rise in 24 hours ending 8 a. m.. 1.5.
Moon tonight: Rises 11:52 p. m.
Relative humidity yesterday: 8 a.
m., 91; 12:30 p. m., 53; 8 p. m„ 50.
E. D. EMIGH.
(OFFICIAL QUOTATIONS OF SAT
URDAY, OCTOBER 18th.)
AUGUSTA COTTON
Spots 22.50
Saturday . . 22.50
Last Year. . 29.25
PRICES BY GRADE
(OFFICIAL QUOTATIONS OF SAT
URDAY, OCTOBER 18th)
Close
Middling fair 2369
-Strict good middling 23.44
Good middling" 23.19
Strict middling 23.08
Middling 22.59
Strict low middling 21.69
Low middling 20.69
Strict good middling 19.59
Good ordinary 18.69
O O
I (
I CLOSING QUOTATIONS ON 1
| NEW ORLEANS AND NEW I
i YORK COTTON EXCHANGES |
I I
C , O
The following quotations from New
York and New Orleans were posted
on the Augusta Cotton Exchange
Mbnday:
NEW YORK.
Prev.
Open High Low Noon close
Jan... 22.85 22.87 22.45 22.58 22.80
Mar... 23.21 23.22 22.81 22.93 23.15
May... 23.45 23.47 23.04 23.14 25.40
July... 23.40 23 40 22.91 23.08 23.35
0ct.... 23.40 23.40 22.91 23.08 23.35
Dec... 22.70 22.76 22.35 22.47 22.70
NEW ORLEANS.
Prav.
Open High Low Noon close
Jan... 22.68 22.70 22 31 22.43 22.74
JVir... 22.98 22.98 22.66 22.71 23.01
May... 23.17 23.18 22.79 22 92 23.20
July... 22.85 22.85 22.56 22.65 22.90
0ct.... 22.55 22.55 22.23 22.31 22.60
Dec.... 22.70 22.70 23.27 22.38 22.66
NEW YOmTcOTTON
NEW YORK.—The cotton market
opened steady Monday at an advance
of five to seven points on steady late
cables from Liverpool and reports
that the tropical storm had grown
more threatening over Sunday. De
cember sold up to 22.76 on the Initial
demand. The storm situation seem
ed to create little new buying, how
ever, and prices soon turned easier
under realizing or liquidation, Decem
ber selling off to 22.50 before the end
of the first hour or about 20 points
net lower. Official forecasts were
regarded as suggesting that the storm
might be confined to Florida and
South Atlantic coast sections and
traders saw no sign of the expected
cold wave in the southwest.
11:45 a. m., bids, steady;
October 23.11
December r. 22.51
January 22.60
March 22.95
May 23.18
The market later rallied a few
points on trade buying and covering
but eased agajn under renewed liqui
dation and selling by last week’s buy
ers. Under the influence of more fa
vorable weather reports and a pri
vate report making the condition 54.7
an the indicated yield 12,672,000 bales
selling again broke out around mid
day. December sold off to 22.44, the
general market showing a net de
cline of 25 to 32 points In the noon
hour.
mid-day break extended to
22.35 for December (representing a
net decline of 35 points. The volume
of business tapered off again at this
figure and the mid-afternoon market
was comparatively quiet with prices
showing rallies of a few points from
the lowest levels.
NEW ORLEANS COTTON
NEW ORLEANS.—The cotton mar
ket opened steady. Liverpool was
better than due and first trades here
showed gains of four points on De
cember and losses of five to six
points on later months. Prices eased
off right after the call on hedge sell
ing mainly and by the end of the first
half-hour December traded down to
22.40. January 22 47 and March 22.75,
or 26 to 27 points below the closing
levels of Saturday. The tropical storm
which was supposed to have reached
the west coast of South Florida this
mornng Is expected to have no other
effect than bringing more or less rain
to the Atlantic coast states.
Noon bids, steady:
October 22.2 ft
December 22 35
' January 22.40
March 22.67
May 22.87
The market ruled barely steady
during the middle of the morning,
prices easing off gradually on the gen
erally favorable weather and rather
good hedge selling. Later prices eased
off more rapidly owing to an esti
mate by a big eastern spot liause with
branches all over the south making
the condition 54 7 and the Indicated
crop 12.672,000 bales. Sentiment ap
peared bearish. It was not believed
that the tropical storm would do any
damage to the cotton belt.
The market ruled quieter around
noon and Into the afternoon, fluctuat
ing rather nervously within tlfe pre
vious range. December advanced to
22 45 and eased off again to 22.37
and the later months followed much
the same course, finally settling
around a level about nine to ten
points above the lows of the morning,
while sentiment was bearish duo to
expectation of a higher crop esti
mate next Saturday and record gln
nlngs. shorts showed tlmldltv. ow
ing to uncertainty as to the effect of
the tropical storm In the eastern belt.
State Bureau of Markets
i
Price* below are those which w holenaler* are paring F. O. B. these
consuming centers. To arrive at p rices nst shippers, deduct freight to
most favorable point.
Atl'ta Aug'ta Macon Bav'nah Col'bus
Sweet potatoes, Yel. bulk load
ing. 100 pounds t 2.00 2.25 t 2 25 I 215 )2 50
Irish Potatoes. No. 1 new, per
150-lb. sack 250 260 1.55 2.00 *.«G
Cabbage (green crated) 100 lbs... 1.75 1.75 1.75 2.00 2.25
Black eye peas, pound 0554, .0154 .0554 .0&44 .0554
Brown eye peas, pound 04 —— —— .04 .04
Egg*, fresh eWMled, dosen 37 .37 .34 AD .44
Stags, pound 21 .22 22 22 .22
Hens, pound 23 .23 .22 .15 .22
Roosters, pound 1154 .1154 .11 .11 .12
Friers and broilers, 1 to 2 lbs.
pound 25 . 26 . 25 . 31 .20
Ducks, pound .20 .15 .15 .25 .27
Geese, pound 15 .13 .12 .1254 -IT
Turkeys, (hens), pound 2754 .25 .25 .15 • ■
Turkey (tom*), pound 275* .25 .25 .25 *— .
Country butter (best table), lb.. .35 .13 .35 .32 .17
Country butter (cooking), pound. .20 .21 .20 ,2.i .14
Oa. cane syrup (Bbl,), gal 73 ,75 .70 .75 .75
Corn meal, per 69-lb. sack .... 2.85 2.90 2 ftrt 2.j0 290
Corn. No. 2. (White) sacked, bu... 1.4354 1 4454 1 4354 144 1.4754
Oats No. 2 (white) tacked, bu .715, .71 .7154 7154 -72
Pea vine hay. ton 133.00 22 00 2150 22 50 22 00
•—No market.
and Commercial News=
No Quotation For Augusta
Middling; New York 23.35
By W. A. LUFBURROW.
Market Editor.
• Bearish influence prevailed In the
cotton market throughout the day
Monday and tho bulls failed to re
ceivc on the close. Up to the tin:*
The Herald went to press quotation
for local spot cotton had not been
posted on the Augusta Cotton Ex
change. New York spots were quoted
at 23.35, a decline of 35 points. New
Orleans quoted spots St 22.40, a de
cline of 25 points.
Buying on dips is being advised
and selling is not thought well of by
sonic, as they believe that Coolidge
will be elected and with It will come
a revival in business. This Is spetu
lation and should be accepted or re
jected according to the best judgment
of the individual. It looks as though
the market la going to remain rocky
until politics have gotten behind. It
i is not altogether impossible for this
election to be thrown In Congress,
and If such does happen, then the
..I—Cotton Ginned, Imported, Exported, Consumed and Burned In the
United States for tho 12 Months Ending July 31, 1924.
Bales
Glnnings during 12 months 10,128,108
Net Imports .; V 272,179
Net exports 5.647,108
Consumed - 5,680,654
Burned 20,000
ll—Stocks of Cotton in ths United States July 81. 1923 and 1924.
1024 (bales) 1023 (bales)
In consuming establishments 721.589 1,099,556
In public storage and at compresses 673,925 945,443
Elsewhere (partially estimated) 1 160,000 280.000
Total ...l 1,555,514 2,324,999
\
111 —Supply and Distribution of Cotton in the Unltsd States for the 12
Months Ending July 31, 1924.
Supply— Bales
On hand August 1, 1923, total 2,324,999
In consuming establishments 1,099,556
In public storage and at compresses 945,448
Elsewhere (partially estimated) 1 280,000
Net Imports 272,170
Ginnlngs during 12 months 10.128.10 S
Aggregate supply 12,725,286
Distrlctlon—
Net exports 5,647,108
Consumed 5,680,554
Burned 20,000
On hand July 31, 1924, total 1,565,514
In consuming establishments 721.589
In public storage and at compresses 673,925
Elsewhere (partially estimated) 1 180,000
Aggregate distribution 12,903,176
Excess of distribution over supply 2 177,890
1— Includes cotton for export on shipboard but not cleared; cotton
coastwise: cotton in transit to ports, interior towns, and mills; cotton
on farms: etc.
2 Due principally to the Inclusion In all distribution Items of the
city crop.” which consists of rebaled samples and pickings from cotton
damaged by fire and weather.
COTTON OPINION
(By C. T. REVERE) w
(MUNDS 41 WINSLOW)
NEW YORK.—If this wer. a nor
mal season, with clearly defined
tendencies In respect to yield de
velopment, we should be Inclined
strongly to the opinion that we had
arrived at a stage where less atten
tion should be paid to the size of the
crop and more' to the prospects' for
demand. Ordinarily, even with a sea
son possessing strong Individual char
acteristics, I the production outlook
is utlined With sufficient clearness to
permit one to consider that the Item
of supply has been largely discounted.
Such is not the case tnls year.
Views regarding the crop are still de
cidedly at variance. Proponents of
12,000,000 bales are as aggressively
confinent as those wno hold to 13,000,-
000 bales and more. A late start,
followed by good growing weather,
succeeded by droughty conditions, and
finally running Into a period of gen
erous rains, represents a set of com
plication* that practically will nullify'
attempts at statistical forecast. There
Is too much Irregularity In various
portions of the belt, and even In In
dividual fields, to warrant the ac
ceptance of anything but the evidence
of the ginning figorcs.
The reports due on October 25,
therefore, will be watched with spe
cial interest. More attention probably
will be paid to the ginning flgores
than to the bhreau estimate of con
dition and Indicated yield. Judging
from the heavy movement of cotton
Into sight, the ginning figures will
be large. With the exception of the
record year of 1916, when the per
diem ginning for this period was
around 200,000 bales, the largest pre
vious dally ginning was roughly 150,-
000 bales. It would seem. In view
of unsettled weather during the early
part of this period—October 1 to Octo
ber 18—that 150.000 bales per day is
as much as could be expected. This
would give a total, allowing for two
Sundays during the period, of ap
proximately 6,900,000 balea ginned to
October 18.
In all probability such a showing
would give rise to a recurrence of Mg
crop eetlmatee. Whether the De
partment of Agriculture raise* Its In
dicated yield figures of 12,499.000 bales
or not. the trade would be Inclined
to make Its own additions to yield
prospects. With the reports due Oc
tober 25, we believe It will be possi
ble to turn over definitely t O' the as
pects of demand.
WHO IS TO TAKE
THE SURPLUS?
We find a widespread disposition In
cotton circlet to believe that a crop
proqsccts of 13.000,000 bales, one*
generally aoceptea by the trade,
would call for prices 20c nnd below.
This view Is hacked up by plausible
argument. Chiefly, It Is held that
Eurons I* In no position to stock up
heavily In excess of currsnt or near
by forward needs. It 1* urged also
that American mills have had such a
hard time that they cannot afford to
extend their purchases much If ary
In excess of their sales of goods and
yarn*. Consequently. It la asked,
who Is to take the surplus cotton?
It la our bellsf that price Is becom
ing more and more of a factor In the
purchase of raw materials of Indus
try. and particularly cotton Manu
facturers In the last two seasons hava
had an unfortunate experience In
buying cotton above Bflc per pound.
Last season they suffered severely In
making purchase* at 15e and above,
because speoWatlve predictions called
for 40c and Higher. W* believe they
would be making an error fully a#
grave In Its ultimata consequences If
they failed to begin buying freely
around 22c, and on a scale down,
slmplv because sneculatlve prophets
proclaim the certa'nty of I*e or lowt-r.
We do not Hhlleve cotton manu
facturers In this country and ahrnnd
Influence on business—well, that's
another problem that It Is best to
leave alone and at beat not to guest
at.
The annual report of the Depart
ment of Commerce on the supply and
distribution of cotton in the United
States for the season of 1923-24 sum
marizes the periodical reports con
cerning cotton ginned, cotton con
sumed and on hand, cotton spindles
and active spindle hours, and cotton
seed and cottonseed products issued
during tho year. The following tabu
lar statements present the principal
data. Statement 1 snows the princi
pal items of supply and distribution;
State II the comparative figures as
to stocks held on July 31, 1923 and
1924; while Statement 111 gives more
detnii concerning the supply and the
distribution. The quantities are given
In running bales, except that round
bales are counted as half bales and
foreign cotton In equivalent 500-pound
bales. Llnters are not Included.
will have much difficulty In financing
supplies of cotton at an average of
22c per pound. The remarkable suc
cesa us the German loan should heart
en all European lnduatry. The sen
timent of business In this country and
elsewhere will favor constructive en
terprise whenever It Is seen that a
nation requiring capital has set Its
house In order. Bo far as the posi
tion of American mills Is concerned,
we thing it would be the height of
absurdity to Insist that manufactur
ers could not finance their needs of
raw material even If they had no
other security than the cotton itself.
Another point to be kept In mind
Is that cotton Is now down to a level
where goods buyers will have more
assurance of price stability. Thla
latter element Is urgently needed to
Inspire respect and confidence. We
should regard It as highly unfortunate
for all concerned If the cotton market
were now to make a right-about-face
and bound upward In a series of vio
lent fluctuations. American mill
stocks at the end of September were
down to about 514,000 bales. Manu
facturers need cotton. They will buy
It at a price and buy It heavily. If
they neglect the opportunity that may
be presented to them In the course
of the next two weeks and find that
they have missed their market, "they
will have only themselves to blame.
It may be gathered from the above
that we are receptively bullish on cot
ton. We believe that there Is a fair
chance that rollon may work lower
in the near future tinder the weight
of the movement nnd the possible In
crease In crop ideas. The time, how
ever. Is near at hand for the accumu
lation of cotton hy manufacturers and
contracts by those who take a long
pull view of the situation.
NEW YORK SPOTS.
NEW YORK.—Cotton, spot, quiet;
middling, 23.35.
NEY ORLEANS SPOTS.
NEW ORLEANS. La.—Spot cotton,
steady. 25 points own. Sales on the
spot, 838 bales; to arrive, 475. Low
middling, 20.40; middling, 22.40; good
middling, 22.95. Receipts, 14,640; stock,
219,000.
LIVERPOOLMARkET
LIVERPOOL.—Cotton, spot, moder
ate business; prices steady.
Strictly good middling 14.34
Good middling 13.95
Strictly middling 13 72
Middling 13.52
Strictly low middling 13 32
1 Low middling 12.82
Strictly g6od ordinary 12.42
Good ordinary 11.82
I Bales 5,000 hales, 4,000 Ameri
can. No receipts.
Futures closed quiet and steady:
October 13 07
December 12.92
January 1296
March 13.01
May 13 03
July 12.91
CHICAGO CASFGRAIN
CHICAGO, lll—Wheat No. 2, red,
$1.64; No. 2, hard. 11.45%01.47.
Corn No. 2, mixed, $1.1001.10%;
No. 2 yellow, $1.0901.11%.
Oat* No. 2, white, 51% 052 c; No. 2,
White, 49%051>/>.
Rye, No. 2. $1.30.
Barley, 860 96c,
Timothy seed. $4.7506.50.
Clover seed, $lB 00029.00.
Lard $17.15. Ribs, $11.25. Bellies,
$16.00.
TilK HUNT in III.ASTS of wlnUr nil! n;t Hint llirx rlalMr«
In New York'* Kant Sid* unprepared. They have gathered up
kindline wood from various parts of the neighborhood to keep
the home Are* burning during the bleak month# of a seaboard
THE AUGUSTA HERALD, AUGUSTA, GA.
N. Y. STOCK-MARKET
NEW YORK.—The recovery In
stock prices, which started last Fri
day was resumed Saturday with most
of tho popular industrials and rails
improving practically on initial sales.
National Lead 'opened three points
higher and Commercial Solvents A,
touched a new 1924 peak price at 71.
When the initial batch of buying
orders had been absorbed and the up
ward movement had lost Its momen
tum bear traders renewed their at
tacks and the general market turned
irregularly lower with profit-taking
accelerating the decline in many is
sues. S. S. Kresge broke four points
and General Electric, Woolworth,
Baldwin, American Can, Steivart-
Warner aim! Colorado Fuel dropped a
point or so. Independent strength
was shown by Yellow Cab, Fisk Rub
ber, first preferred, Pacific Gas, In
ternational Shoe and American
Waterworks 6 per cent preferred, up
one to two points.
Foreign exchanges opened steady
with trading quiet.
The market in the early afternoon
presented numerous features of
strength, particularly among the
southwestern railroad shares and a
sprinkling of ifidustrlal issues, In
cluding Corn Products, Postum Ce
roul, Schulte, Jordan Motors and
General Asphalt. St. Louis & Snn
Francisco, common and preferred,
Seaboard Air Line common and pre
ferred, and Pittsburg & West Vir
ginia were in lurge demand. Ameri
can Can met considerable stock after
it had c.orsed 130 and Bethlehem Steel
was forced down to 42 or within u
fraetlonof the year's minimum.
The closing was Irregular.
Sales approximated 750.000 eliares.
NEW YORK STOCK LIST.
Close
Allied Chemical and Dye 71
American Can
American Car and Foundry... .164
American International
American Locomotive 77%
American Smelting and Refg.... 75%
American Sugar 3?%
American Tel and Tel 127
American Tobacco I||
American Woolen 6b%
American Zinc, Lead and Smelt.. 7%
Anaconda Copper 35%
Atchison JJJJJ*
Atlantic Coast Line }J*%
Baldwin Locomotive 117%
Baltimore and Ohio 60%.
Bethlehem Steel 41%
California Petroleum *l%
Canadian Pacific 141%
Central Leather 13%
'Cerro de Pasco 96%
Chandler Motors 31%
Chesapeake and Ohio *2%
Chicago and Northwestern 60
Chi. Mil and St Paul pfd 19%
Chicago, R I and Pac 31%
Chile Copper 31%
Coca-Cola 75
Colorado Fuel and Iron 40%
Congoleum "%
Consolidated Gas 69%
Corn Products, new » 36%
Cosden Oil “4 x
Crucible Steel “JJ4
Cuba Cane Sugar pfd
Davison Chemical
DuPont de Nemours *27%
Erie *6%
Famous Players-Lasky 80%
General Asphalt
General Electric 246%
General Motors 67%
Gt Northern pfd 60%
Gulf States Sleel 68%
Houston OH *9%
Illinois Central 797%
International Harvester 92%
Int Mer Mar pfd 36%
lnt Tel and Tel 82
Invincible OH 12%
Kelly-Springfleld Tire 16%
Kennecott Copper 45%
Louisville and Nashville 96%
Mack Truck 97
Marland Oil 35
Maxwell Motors A 69%
Middle States Oil 1%
Missouri, Kan and Tex 15%
Missouri Pacific pfd _65%
National Lead 152%
New Orleans, Tex and Mex 107%
New York Central 105%
N Y, N H and Hartford 22%
Norfolk and Western 123%
Northern Pacific 62
Pacific OH 88%
Pan-Am Petroleum B 60%
Pennsylvania 44%
Producers and Refiners 26
Pure Oil 23%
Reading, ex-dlvidend 69%
Republic Iron and Steel 42%
Reynolds Tobacco B 76
Seaboard Air Litie 15
Sears-Uoebuck 106%
Sinclair Con 17
Sloss-Sheffield Steel and Iron., 68%
Southern Pacific 93
Southern Railway 66
Southern Railway pfd 76%
Standard Oil of Cal 67%
Standard Oil of N J 36
Studebaker Corporation 38%
Texas Co 40%
Texas and Pacific 34%
Tobacco Products 62%
Transcontinental Oil 4
Union Pacific 138
United Drug 93%
U S Cast Iron Pipe 119%
U S Ind Alcohol 71
United States Rubber 33
United States Steel 197
Utah Copper 79%
Westlnghouse Elec 62
Wlllys-Overland 8
Woolworth ...105%
V
FOREIGN EXCHANGE
NEW YORK—Foreign exchanges,
steady. Quotations In cents:
Great Britain, emand, 4.48%; ca
bles. 4.49%; 60-day bills on balks,
4.46%.
France, demand 5.21%; cables 5.22.
Italy, demand 4.35%; cables, 4.36.
Belgium, demand 4.80%; cables, 4.81,
Germany, demand, per trillion, .23%.
Holland, demand 39.13.
Norway, demand 14.25.
Sweden, demand 26.58.
Denmark, demand 17.16.
Switzerland, demand 19.20.
Spain, demand IS 43.
Spain, demand 13.43.
Greece, demand, 1.74.
Poland, demand, 19%.
Czecho-Slovakla, demand 2.91.
Jugo-Slovakla, demand 2 98.
Jugo-Hlavla, demand 1.45.
Austria, demand .0014%.
Rumania, demand .56. *
Argentina, demand 37 00
Brazil, demand 11.37.
Toklo, demand 38%.
Montreal, demand 1.00.
St. Louis Cash Crain
ST. LOUIS.—Cash wheat, No. 2 red,
J1.584H.C0; No. 2, red, J 1.5501.57.
Corn, No. 2, white, $1.10; No. 2,
yellow, 51.1001.10%.
Oats, No. 2, white, 64c; No. 2. white,
51 %® 53c.
BUSINESS REVIEW
WASHINGTON, D. C.—Mill con
sumption of cotton during September
totaled 435,216 bales us contrasted
with 346,671 hales in August and 485,-
665 bales a year ago. Stocks at mills
and warehouses on September SO, ag
gregated 2.587,593 bales as against
1,363,583 bales at the end of the pre
vious month and 2,919,614 bales a year
ago. Imports and exports of cotton
durlng*Scptember were In larger Wi
nnie than a year ago.
Unfilled orders of the U. S. Steel
Corporation at the end of September
called for 3,474,000 tons ns against
3,290,00(1 tons at the end of August
and 5,036,000 tons on September 30,
1923.
Production and stocks of sine de
clllned from August but were greater
than In September of last year.
Production of Portland cement de
clined during September but was
larger than In September, 1923, while
shipments, unchanged from the Au
gust level, were larger than In Sep
tember, 1923. Stocks of Portland ce
ment of mills were further reduced
but were In excess of holdings & year
ago.
Carloadlngs increased In a seasonal
movement over August but were
about one per cent less than a year
ago. Total loudlngs for the nine
months' period ending September 27
were about 4 per cent less than the
total loadings during the correspond
ing period a year ago. Merchandise
L. C. L. and miscellaneous loadings
and loadings of grain were In greater
volume than a year ago. Postal re
ceipts In 60 selected cities during Sep
tember totaled $25,898,000 as against
522,546,000 in August and $23,272,000
September, 1923.
The sales of leading ten-cent chains
in September amounted to $28,403,000
as against $28,789,000 in the preceding
month and $25,198,000 In September
1923. The volume of check transac
tions In New York City as measured
by debits to individual accounts de
clined from the previous month but
were larger than a year ago while
for the country outside New York
City, dibits increased during Septem
ber but were less than a year ago.
GERMANY.
The German market is character
ized by a gradual Increase In produc
tion, especially in textiles, chemicals,
potash arid leather, with a continued
depression In steel and some minor
industries. The credit situation is
improving, with easier money In pros
pect. Bankruptcies and receiverships
are fewer, carloadlngs have Increased,
nnd the government finances are in
the best position since atahillzatlon.
The unfavorable harvest has necessi
tated increased Imports, the dlsap
pbintlng grain yield causing heavy cv
ports from America.
FRANCE.
Budget dlecusaion* and the ques
tion of Franco-German treaty nego
tiations are still holding first at
tention In th% French situation. Tho
lndustrlql phase la generally satisfac
tory, though summer dullness still
lingers" In some tra l x. The textile
Industrie!, except 1 \ n. are active;
the leather business la calm, and shoe
factories are slack. The production
of naval stores is expected to he low,
but the chemical Industries In general
are satisfactory. Iron and steel man
ufacturers are depressed, but produc
tion of pig Iron Is maintained In spite
of slack demand. Auto sales are ac
tive.
AUSTRIA.
The uncertainty which character
ized the month of September In Aus
tria was largely offset hy the action
of the league of nations with regard
to fixing of 1925 expenditures and hy
the retention of the commissioner
general Prices continued to rise,
especially those of foodstuffs. Indus
trial conditions have not Improved
significantly during the last month
nnd stagnation marks several line*
This year’s harvest, while estimated
at fair, le still below that of 1928 In
most of the grain totals.
SPAIN.
The end of the summer season hns
failed to nontenant the dullness In
Spanish Industry. T;:e government
flnsnelal situation has not Improved.
Heavy military expenses In connec
tion with the Moroccan rampnlrn
have reduced the government's bal
ance with the Bank of Rpsln. and an
additional Issue of treneurv bonds Is
expected next month. Depreselon In
Catalonian textile* ha* become more
pronounced. Tron and steel demends
are active. The ngrlculturel sltun
tlon Is uneven; cereals »re bringing
rood prices to tbe fsrmsrs: olive oil
shipments have Increased and price*
LOOK FOR
ROGER W. BABSON'S
WEEKLY ARTICLE
On Marketing, Finan
cial and Business condi
tions every Friday on the
Market Page of the Au
gusta Herald.
In this week’s discus
sion, Babson points out
the great benefit to be
derived by cotton plant
ers of the South from the
German loan. Money,
credit, standing armies,
commerce and the gener
al economic condition is
covered in this article
that you cannot afford to
miss. “The floating of
this loan,” says Babson,
“in America and Europe
means that arteries of
trade, which have been
clogged the past ten
years, are today being
opened.
“Germany is bound to
import more cotton dur
ing the next twelve
months than she has dur
ing any twelve months of
the last ten years.”
Read Babson’s article
every Friday on the
Market Page of The Au
gusta Herald. He is
America’s foremost busi
ness observe? and statis
tician.
THE AUGUSTA HERALD
Augusta, Ga.
have fallen: the poor nut crop has
resulted In advancing prices.
80UTH AFRICA.
Duo to seasonal lull, quietness pre
vailed in these markets during Sep.
tembor. Wholesale buying is on a
restricted basis. The position of tho
gold industry Is very favorable. Good
spring rains h.xve been a boon to
crops, which were threatened by
drought. The strong demand for wool
hns been beneficial to coast ports.
CHICAGO GRAIN MARKET
CHICAGO, 111.—With weather con
ditions favorable for tho crop move
ment In Canada, wheat underwent a
decided setback In price Monday dur
ing the early dealings. The penlng,
which ranged from %c to one cent
lower, was followed by a decline that
in some cases wont more than two
cents under Saturday's finish.
Fine weather, together with wheat
weakness, tended to oaso down corn
and oats.
After opening at %e to %c lower,
the corn market continued to sag.
Oats started unchanged to %c off.
Later there were losses all around.
Lower quotations on hogs pulled
down the provision msrket.
Wheat closed heavy, 2%0 to 4%e net
lower.
Corn closed weak, 2%c to 3%c net
lower.
WHEAT—
Open High Low ClOs*
Deo .... 149% 149% 145% 145%
May .... 152% 162% 148% 149%
July .... 134 134 131% 131%
CORN—
Doc .... 108% 109 -105% 106%
Mav .... 110% 111 108 108%
July .... 11l 111% 108% 109%
OATS—
Deo 53% 55% 52V, 62%
May 57% 68 56% 56%
July 56 55 54 54
RYE—
Doe .... 134% 134% 131% 131%
May .... 133% 133% 131% 181%
July .... 119 119% 119 119
LAUD—
Nov ... 1555 1595 1555 1692
Jan ... 1440 1463 1440 1447
RIBS—
Nov ... 1240
Jan ... 1250 12S0 1250 1205
BELLIES—
Nov ... 1425
Jan ... 1300 1302 1300 1302
LIVESTOCK MARKET
CHICAGO CATTLE, SHEEP AND
HOG RECEIPTS.
CHICAGO, III—Hogs: Receipts 59,-
000; uneven, 25 to 60 cents lower; hulk
good and choice 200 0 325-pound butch
ers, $10.60«910.80; majority desirable,
160®'190-ponnd Weight, $9 664910.40;
hulk packing sows. $9.40(39.65; slaugh
ter pigs, $8.25798,60.
Cattle: Receipts, 30,000; fed year
lings and hnndywelght steers, fairly
active, generally steady; bulls, steady
to strong; veals, slow, 25®80e lower;
best yearlings, $12.25; hnndywelght
and yearlings. $11.00012.00; bulk vent
ers, $9.0009.50
Sheep: Receipts, 20.000: fst lambs,
IGe to 25e higher; bulk desirable na
tives, $13.25013.75: good to choice
westerns, $13.40013.75; sheep, steady;
fat ewes, $5,007(6.75; aged wethers,
$7.50.
ATLANTA CATTLE AND HOG
RECEIPTS.
ATLANTA, Ga.—Cattle: Receipts,
800; slow; mostly steady; top steers,
56.00; bulk light steers in Stocker
flesh, 53.7504 ?.!!. beef cows, $3.00®:-
3.75; cutters. $z 50972 On: canners, $2.25
down; largely $1 7602.00.
Hogs: Receipts. 1,500; tending low
er; drstrable 170i(r2«n-pound butchers,
quotable, $11.006211.50; 1300160-pound
$10.00010.60; 130-pounds, down. $8.75-
09.50.
CATTLE MARKET
(Corrected by Augusta Stock Yards.)
CATTLE.
Common ... 2 02%
OMfnafy 3 03%
Good 3%®4
Fancy ...4%05
CALVES.
Common 4 06
Ordinary 6 ty'l
Good 7 07%
Fancy 8 @B%
SUGAR MARKET^
9
NEW YORK.—Raw sugar, un
changed at 6.03 for Cuba's, duty paid;
refined, unchanged at 7.15 to 7.50 for
fine granulated.
Your yardstick
The story of man’s progress is written
daily on the printed page—in messages
from all comers of the globe. Only history
can measure it.
i 1
Yet the progress that concerns you
most—the better talcums, tooth-brushes,
shoes and automobfles that can give you
daily satisfaction—you can measure as you
read.
Herald advertisements are your local
yardsticks. They tell of the new and the
best your own dealers carry.
If you read Herald advertisements, you
can buy wares that repay your confidence—•
wares widely advertised because widely be
lieved in. Moreover, by helping you select
the new, economical and best today, Herald
advertisements help you save for the new
and best tomorrow. »" *
' * '.> 7
Let Herald advertisements keep you alert,
progressive. Let them help you save.
THE AUGUSTA HEKALD
NAVAL STORES
SAVANNAH NAVAL STORES
SAVANNAH. —Turpentine, steady,
79%c. Sales. 330; receipts, 349; ship
ments, 603; stocks, 12,093.
Rosin, firm. Sales, 497; receipts,
-,065; shipments, 2.011; stocks, 103,111.
Quote; B D $5.95; F, F G H I K
$6.05; M $6.10; N $6.2006.30; window
glass $6.0006.95; water white, $7,500-
T. 60; X, $7.80.
CALL MONEY
NEW YORK.—CaII money, easy;
high, lew, ruling rate and closing bid,
all ; offered a t 2%; last loan, 2; call
ioans agalnset acceptances, 1%. Time
inans, steady; mixed collateral, 60-00
days, 2%®3; 4-0 months, BV,®%s%.
Prime commercial paper, 303%.
DAIRY MARKET
NEW YORK BUTTER. EGG AND
CHEESE RECEIPTS,
CHICAGO. —Butter, lower; cream
ery firsts, 31032 c: seconds, 29030 c.
Eggs, unchanged; firsts, 37®480,
Live poultry, liominnl, no quota
tions; dressed, firm; chickens. 230-
25c: fowls, 20031 c: old roosters, 16-
@32c; turkeys, 35040 c.
BAR SILVER.
NEW YORK.—Bar silver, 71%;
Mexican dollars, 54%.
PRODUCE MARKET
Flour—Hard wheat. 98-lb. cot
ton sacks, bbl $7.75
Flour—rialn, 08-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 76
Flour—B.-R.. 24-lb. sks., bbl... 7.10
Flour—S.-R.. 24-lb. sks., bbls.. 6.55
Buckheat. 24-pkg. cobo 356
Grits, 24 2s, per case 1.90
Grits, 12 3s. per case 1.90
Grits, fine and medium, 96s
per sack 2.40
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.. lh 06%
Rice, fancy, No. 6R, lh 07%
Wesson Cocking Oil, 24 pints.. 6.75
Wesson Cooking Oil, 12-qt. ease 5 40
Wesson OH, 6 1-gal. cans, case. 9.80
Axle Grease, 10c size, 1-lb., 4
dozen 3.75 .
SEEDS.
Amber Cane, 160-lb, sks 50
STOCKS AND RONDS
(Corrected by T. D. Carey ft Co.)
STOCKS.
Bid Ask.
Augusta Factory 15
Augusta and Sav. R. K 93 97
Bon Air Hotel Cor. c0m.... 62 67
Bon Air Hotel, pfd 63 67
Citizens ft. Sou. Bank 250 266
Enterprise Mfg. Co 90 100
Georgia R R. Bank Co 194 197
Oranltevllle Mfg Co 165
John P. King, pfd 104
John P. King, com 110 120
National Exchange 8ank...106 110
Sibley Manufacturing C 0... 65 76
Southwestern Railway 98 ion
Union Savings Bank 140 150
BONDS.
Bid Asked
Augusta Factory Bs, 1941..,, 99 101
Bon Air Hotel 7s. 1942 101 103
City of Augusta (Basis)... .4.40*
Ga. R. R. A Bkg. 4s. 1947.. 82 84
Oa. R. R. A Bk. Co. 6s. 1951 .108
Oranltevllle. Co. 7s. 1942....101 10*
Lnngley Mills 7s, 1948 97 98
Sibley Mfg Co, 7s. 1942....100 103
State of (leorgln (basis) ..4.25%
September la tha most popular
month with bicyclists.
The largest sapphire In the world
weighs 10 ounces.
The number of bathing fatalities
in the United Statee grows an
nually.
Each seal In the Bronx zoo eats
eight pounds of fresh fish dally.
An alligator will attain a length
of 12 feet In 1C year*.
STOCKS AND
BONDS.
GOVERNOR RRYAN
Leaves on Strenuous Speak
ing Schedule
ST. LOUIS, Mo.—Gov. Charles
W. Bryan, democratic candidate for
vice-president, left here early
Monday, facing a strenuous sched
ule of an even dozen speeches In
Illinois, Ohio qnd Indiana, his first
program of speaking dates east of
the Mississippi since the beglnnning
of the campaign.
According to those being con
sulted on the Itinerary, there is a
possibility that additional places
may be sandwiched In between most
of tho fixed dates.
Monday’s schedule called for
speeches at Waterloo, Sparta and
Murphysboro, 111., the route to be
traveled mostly by automobile. As
his itinerary was routend through
small towns In farming and coal
mining sections, Mr. Bryan said
his speeches would deal largely
with agriculture and labor ques
tions.
Al Smith Expects
Larger Plurality
BUFFALO, N. Y. Governor
Smith said Monday he saw no ren
' son why his plurality should not ba
1 larger than It was two years ago
when ho defeated Governor Miller
by 380.000 votes. He said he was
making his campaign "strictly on
the record" while his opponent.
Theodore Roosevelt, “seems to be
trying to go through the campaign
keeping as far from the record as
he possibly can."
"He's stealing a ride, hoping the
conductor does not find him," the
governor added.
STORM WARNING
WASHINGTON. The weather
bureau Monday issued the follow
ing storm warning:
“Advisory 10 a. m., hurricane
warnings remained displayed north
of Key West to Cedar Keys and
north of Miami to Jupiter. \ Warn
ings changed to southwest\ storm
warnings Key West and Miami.
Northeast storm warnings continu
ed north of Cedar Keys and Jupiter
to Appalachlcela and Jacksonville
hurricane circle about 25:30 north.
83:30 west, it will pass Inland not
far from Fort Myers late this after
noon.”
Southern Gas Power
Corporation
tY? Cumulative
J /f\ Preferred
M ' ' Stock.
Seven Per Cent
and Safety.
For particulars
Gas Light Company
of Augusta.