Newspaper Page Text
SUNDAY, OCTOBER -26
COTTON AND
GRAIN.
AUGUSTA COTTON
Spots 22.00
Friday .... 22.44
Last Year. . 30.13
PRICES BY GRADE
Close
Middling fair 22.00
Strict good middling ; 22.75
Good m’ddling ... 22. 50
Strict middling 22 31
Middling 22.00
Strict \w middling 21.00
Utv mradling 20.00
Strict good middling 10.00
Good ordinary . 18.00
LIVERPOOL MARKET
LIVERPOOL.—Cotton, spot, limited
demand; prices, steady.
StrlctJjt good middling 14 08
Good middling 12,0.1
Strictly middling 12 42
Middling 12.2*
Strictly low middling 12.08
Low middling 12.88
Strictly good ordinary 12 18
Good ordinary 11. it
Sales. 4.000 bales. Including 1
400 American. ' Receipts, 17,000
bales. 16,100 American.
Futures closed steady.
October 12. M
December 12 84
January 12.87
March 12 01
May 12.92
July * 12 80
September #.. 12.38
N. Y. COTTON MARKET
NKW YORK.—The government erdp
report was followed i.y it decline of
about half cent from Friday s clos
ing quotations in the cotton market
Saturday, December contracts, which
had sold up to 23 I l *, broke to 22 10 or
a emit from the best and i»0 points net
lower. That delivery closed ut 22.17,
the general market closing steady at
net declines of 43 to 43 points.
Trading was quiet with the market
correspondingly sensitive to small or
ders either way In advance of Nio bu
reau The / tiling was steady ut a
decline of lb to 23 points because of
'i\ ea - Liverpool cables,
prospects for fair and warmer weath
er In the south anu pre-buniu liqui
dation.
Softie trade buying and covering at
the decline, however, made the de
mand more active toward the eml of
the first hour with both January and
March selling up to 22.10 just ns the
crop figuies made their appearance.
At thla time tin market showed a
net advance, of in to fio points with
near months relatively firm, but «*
soon os the ciop and ginning reports I
were fully available, prices broke un
der heavy local and nouthern selling.
Before this was .absorbed January
bad declined to 22.20 and Mart h to
22 80 Rallies of a few points fol
lowed on covering, but last price.*
were within five to seven points of
the lowest.
The government report placing she |
condition of the crop nt 04.7 and the
ind'eated yield at 12.678.n0n biles was
almost exactly In linn with th« aver
age of recent private reports. The
censliM report showing 7.600,826 bains
rlnned to October 18, compared with
6,409.391 Inst year, exceeded ejpecta
tions and this, us well us the disap
pointment of recent buyers over the
failure of the crop figures to confirm
smaller estimates, seemed responsi
ble for thrf break.
The a mount of cotton on shlrhoard
swa'tlng clearance nt the end of tho *
wenk was estimated at 205,060 hales
against 133.000 last year.
NEW YORK SPOTS.
NKW YORK .—Cotton, spot, quiet;
middl ng, 22 95.
NEW ORLEANS COTTON
NEW ORLEANS —it was an actlva
siiort session In the cotton market
Saturday owing to the publication of
the gut eminent report showing the
condition of the croji on October Ik
ms *4.7 per cent of normal, the Infll
<Htcd yield at 13,676.000 hales anil
the total ginned 7,600.636 hales. Just
prior to the publication of tho totals.
1 teeemher, which hail traded.ua low
ar 22.67 In the first hour, flint up to
S 3 30 g,r 03 points tip w hile January
advanced 62 points from 23 3* to 2.7 21.
A* tho crop forecast and ginning
totals proved much larger than ex
pected, prleea gave way sharply after
the putdlcatlon of the figures, Do
eemher dropping to 21 97 and January
to 11.96, or 137 and 123 points, re
spectively front the highs of a few
mlnutea earlier, hut only 68 to 63
points under the closing levels of Fri
day, After the first wave of selling
subsided, prleea rallied about 16 to
It points from Ilia lowa and the close
was steady at net losses for the day
of from 36 to Vj points
No sntlsfaeorv explanation waa
found for the sudden advance Just be
fore the official report waa Issued
While the figures of the report were
distinctly bearish, the small net de
cline irom Friday's eloae Indicated
that the government's figures had
been pretty well discounted in ad
vance
Friday was the last notle* day for
October deliveries Ip the local mar
ket and notices for five thousand
bales were circulated and presumably
all stopped. The month, however, ad
vanced suddenly to *3 cents right
alter the Issue of the httreau figures
but noon slimmed off tb 23 03 ami
went out at 22 06.
NEW ORLEANS SPOTS.
NEW ORLEANS. La Stmt cotton,
quiet, 36 points down Sales on the
mot, none, to arrise. 134 Low mid
dling. 20 16; middling. 22.15: good mid
dling, 22 63
COTTON MOVEMENT
Port Movement,
Orlenn* Middling •? 15; re
y r.sa. <-\f>oiU. MOfr; sal**, 134.
•t<xk. JSi.cwi
Galwstun Middling. 22 30: receipt*.
rS|K>ri*, 16,£0f*; sale*. f.CKM),
4
Mobile* Middling, 21.75; receipt*.
018. clock. 12.177.
Hsvannuh Middling, 22 30; receipt*.
b,H2 Mil***. 437 *tn»*k. 75.81&.
Cimrlt *ton; Jtecelplft, 1,M0; stock.
2f. 7 yf.
Wilmington: Middling 22.00; re
cehit* 1i.023; *tivk. it. 440.
Texas 4 'it y■ Stock. r. til
N«»rfqlk: receipts,
3,||l. *a)r*. 40U. Nt, u 41 :»70.
But It ;ii"M Stuck. 2)19.
Bi**t4«n Middling rs stock 1 700
Philadelphia Middling. 22 20; mock
3.373
*C*\v Tork: Middling, 22 95; stock.
199.710
Mmuc port*; Stock, I. 04?
M4»u&iyH Itactlpia, 1,915; export*.
MIS j*
Totad !<*•> • Rerelpls U': t\M
2?.€25; aafc>. 3.051; stock, !,•
07«.09r.
T. ml for neck: Tteceipt*. 45.036;
extwirta. 27.025
Tots! for season* tteceipt*. 2 1*66,-
313; export*. 1.619 427
Interior Movement.
H"UHnn: Middling. 22 30 receipt*.
*2.39*; eMpnientK, 22.959. m»lea, 19.*99.
Htncl: 469,599
Memphis: Middlng 22 25; receipt*.
P. 746. Mhinmetit*, f»,3€6; mile*. MOQ,
clock. 90 213
Augusta Middling. 22 00; receipt*,
1 3«v shipments, 74. Mile *« 304; stuck.
39 437
Ht Ix*ulk* Middling 23 23*. receipt*.
3,727 shipment* 2 722 Mock. 1,411.
Atlsntji Middling 22 fNt
A
1,1 <N»; •hlnmeut*. 2,112; sales,
A(9?7: uloik 21 533.
Dalla*: M ddllng, St.IS; tale*. 1.-
04«
Montgomery: Middling, 21 50; rale*.
MS.
Total todav; Receipt*. shtn
fnents, 33.903; tale*, 37,378; stock,
•7.4,500
A Bearish Repori and Wild
Speculation Played Havoc
With the Cotton Market
By W. A. LUFBURROW.
Market Editor.
Another week of doubt
and uncertainty on the cotton
market culminated In fluctua
tion of tho market Saturday
that cAuaer many to question
even tho gapibllng fairness of
New York. Of course, It Is sup
posed to have been brought
about through the ordinary channel
<*f operation based on the bearish re
port of the government estimate of
the crop nt 12,074,000 bales compared
with 12,499,000 bales forecast a fort
night ago arid a crop of 10,139.671
■ bales. Tho spot market nt Augusta
was quoted on th© elose at 22 cents,
a break of 44 points under previous
closing quotations.
For one to attempt to predict the
movement of the market from one
day to another would be going far
beyond the pale of all reason. The
cotton plant* r seems to be caught In
a hopeless situation and rolief Is not
In sight Much action as hss been
wUmssed In the market during the
[•past two months should be an ever
lasting lesson for the farmer who 1s
Hot In a financial position where he
ran hold his cotton until the market
reaches a level that will nt least pay
for the expense of making the staple,
to say nothing of a profit.
D Pithless there are many cotton
planters who would be a grent deal
better off today If they had not
planted a hill of cotton. Between
manipulation of the market by com
bined Interest and th© ravages of the
boll weevil, the average cotton farm
er hasn't a chance In the world. And
as long ns farmers Insist on buying
their food and feedstuff*, they will
be servants of the powerful Interest-
To borrow money to raise cotton and
neglect other Important Items neces
sary to life, Is noth'ng more or less
t an financial suicide.
To reflect on the tragedy of the
cotton farmers because of unwarrant
ed speculation and cut-throat gamb
ling engenders n. spirit not conducive
to being satisfied with the present or
der of things. And that a part of
the solution to this miserable condl- I
tlon lies In the hands of the agricul
tural Interest who seemingly Is so in
different to It, makes It look almost
hopeless.
Dike all other things, speculation In
iho cotton market has two sides to
It. The worse feature Is the vast
amount that. Is done In the South.
Herein the South Ih Iff"wore# enemy.
It Is not the small farmer who is
guilty, but thousands In the South
who are dependent for their nrosper-
Ity on the small farmer. Those of
the South who speculate In cotton are
undermining their financial and eco
nomic foundation. When they take
from the small farmer an opportunity
to break even, not to have nn oppor
tunity to males a profit, t»,.« genti il
business condition linirhecd weaken
ed and tho door tJ bankruptcy Is
brought that much nearer. The en
tire .South sifffera. The way for the
small farmer to prevent Injury at the
hat ' of aneculatoi of 11 < South is,
to grow sufficient food .and feedstuff* I
and produce peanuts or other crops
ns a money crop for necessities and
cotton roUHy ns a surplus money crop
This might be a long, hard struggle,
but It It worth It.
The United Rtntes Deportment of
Agriculture reports thnt "new orders
for finished cotton Roods in Seplfm
her increased over tho previous
month but declined from September,
1923 Slocks In hands of finishers on
September 30th declined from hold
ings on August 31*t and September
rioth, 1923. In terms of per cent of
capacity the operating activity of cot
ton finishers for September stood at
54 per cent as against 47 for Au
gust and <1 per cent for September.
1923.** +
It 1* not altogether impossible thnt
the government estimate of tha cot
ton crop is ‘going lo be found Incor
rect. In many sections of tho belt
more seed cotton la required to mnk«
a bale than has been the case in sev«
oral aaason and tha grada is consid
erably ••off Herein lies an untold
damage that Hill have to he stood
for by the South If Southern con
ftrassmen and senators are worthy of
ona vote, to say nothing of enough to
elect them, and If they know what
Uu 1 art tkih (m . 01 ha \ tha Intar -
eat of tho people they represent at
hsart, than no tint# will ba loot In
correcting this great injustice that la
being done to their people.
The chief article of import trade
into Kaet Africa is cotton piece
goods, a trado In which tho United
States shared so largely before tho
war ns to have established tho trade
name "American!" for a. cheap gray
cotton doth extensively sold to tho
negro tribesmen. Since the war, how
ever, American exports prices have
been too high, and the "Amerlcanl"
Is now supplied from Japan which
buy* annually one million bale* of
short staple cheap Indian cotton for
this manufacture. The hotter grades
of cotton piece goods are supplied
from Great ltrltaln.
The volume of cotton goods imports
Into Salvador Is Increasing yearly,
mul this trend should continue from
tho evident recent Improvement In
the standard of living as a conse
quence of tho greater purchasing
power of tho people, according to a
re nor t from Consul Mct’afferty at San
Salvador. Previous to the war. United
States sales of cotton fabric* were
not especially large, hut alnce then.
American cloths have become firmly
established, and it is the opinion of
local dealers that they have coma to
stay. The principal competition at
present is from British manufactur
ers.
During the calendar year, 1932. the
latest for which Import statistics are
available, the United States supplied
the following quantities of cotton
doth to Salxador Unbleached goods,
819.999 kilos. drills, 222,950; other cot
ton piece good*. 432.905 kilos, us com
pared with British shipment* of 17.- !
827 kilo* of uubb.iahcd cotton cloth.
24.232 of drills, and 292.354 of other
cdton piece goods, for the same
period.
A* a general rule, good* of medium
quality are Impelled from the United
states, while the very cheep and
ver> fine grades sr« brought from !
Kmiland. The American manufac
turer* practically have a monopoly of
the trade In grey good*, drill*, narrow
prints and hard twist Voiles, while
the Unn*h dominate the mraket for
cheap, narrow, soft-finished, pr nted
luwna The wide prim* sold here ar«*
exclusively American, but they are
Just coming into use anil do not as
Vet enjoy a gi tiers! demand A va
riety of fancy goods la handled by the
retail a fli which is chiefly in Un
hands of Chinese and Letantlnes.
Merchants In Salvador keep well
posted on the New York market, and
they buy when they believe the price
N 1110*41 nd\ antageoua. Cotton goods
»r- usually hers by traveling
* ami-i who visit the country at
* 't twice a >ear. hut some firms
*\c resident representatives who
* I*o cover the neighboring republics
••me of the larger Jobbers and retail
» mcertis order directly from commls
ho us* * in New York. I'rlces are
Uwav* quoted f o b New York No
'otton g« *mU ft re shipprd to this mar
ket on consignment
The usual terms of payment are
‘ f ** % \ return mall
or to days net. but the smaller trade i
* xpecta a 30-day sight draft less 2 '
Per cent or 90 days less 1 per cent or ,
net.
The import duties on cotton good*
into Salvador vary with the thread
Financial and Commercial News=
. count* anil weight, but there are al*o
| nuinerou* Rurr-harge* on the amount
I at the duty which bring* the total
| assessment to a much larger figure.
I Prevailing ratea of duty can b* ob
j talned from the Dlvlelon of Foreign
Turlff*, Bureau of Foreign and Do
mestic Commerce, Washington. D. C.
{ end a list of wholeeale firm* dealing
In cotton piece good* may be obtain
ed from any district or co-operative
office of the Bureau of Foreign and
liomeatie Commerce, or the Textile
Division at Washington, D. C.
The following quotations from New
York and New Orleans were posted
on the Augusta Cotton Exchange
Saturday:
NEW YORK
Prev.
Open High T.o\v Close close
Jan .. 22,50 22 10 22 20 22 25 22.70
Mar... 22.20 23 10 22.50 22 55 23 00
May... 23 00 23 30 22 70 22.75 23 20
July... 22 88 23 00 22.45 22 45 22.88
Dec... 22 48 23.05 22.10 22.17 22.60
NEW ORLEANS.
Prev.
Open High I.nw Close close
Jsn... 22 30 23 21 21 98 22.14 22 60
Mar,.. 22.55 23 40 22 16 22 35 22 72
May... 22.78 23 15 22 45 22 53 22.88
July.... 22 60 22.35 22 32 22 57
Doc... 22.40 23 30 2105 22 11 22.50
DRY GOODS
NKW YORK.—Cotton good* were
steady In the gray goods division
Saturday with a little more buslnea*
In aheetlng* and print cloths. Some
<>f the convertibles were selling for
future delivery In larger lots Yarn*
ruled firm with trsde quiet Knit
goods were lrregulsr, spot business
on heavyweights being fair, with
Miring goods still low Silks were In
steady demand Wool goods held
their advance with the beat being
done In dress goods line. Burlaps
were higher abroad and remained
firm here. Buying was active.
SOUTHERN COTTON MILL
STOCKS
Noudwrn cotton mill storks at quot'd R 8
Dickson smt Company, of nastunia. N. C.. and
Orttnvlllt. H C.: nid. Ask
I Arm* Spinning Company on jol
Arra>lta Ml!l» 2*o 29*.
| Arn«rlriu Spinning Company - 564
Am Yarn and pro* Co 94 97
Am Yarn and Co., »% pfd .102 198
And*r*oa Cotton Mills 102 109
Arlington Cotton Mills 100 ln«
Aragon Cotton Mills (8. C.) J« 1»I
A reads Cotton Mills 84 *8
Arrow Mg’i 98
Art CiollT Mill* 95 9M
Helton Cotton Mills M ft
Helton fatten Ml Hi. 1% pfd «2 95
Hrsnmont Manufarturlng Co 410
nner*MßMUf«rturlng Cc 190 ——
Hrogon Mill* 110 112
clars Manufacturing Co ftT 91
Clifton Manufarturlng Co. 13a 141
catarrua Cotton Mills . 144 140
Cabarm* Cotton Mills. TG pC<l 194 ——
< Itatlslek-Hoikins Co. (Par. S2B) . IT «»
Ctiadnlrk-ltriiklna Co., •% pfd.... 102 104
t Iran** Mills 11« )»T
chipAflro** Coitoq Mills 103 -
chPpirra Manufarturlng Co 283 243
Ciimno'4 Mf*. C«»., 6*k pfd....... 9t ——■
Calhoun Mills t?o 178
cannon Mfg Co. (par $10) 14*4 18’4
ClfWrr Mina ——9 n
Citmat Spinning Co. 110 131
Crearmt Splnn ItgCo 91 96
Coiufs'ms Mfg Co (Ca.) 175 IJJ
ComiTar, P 19 Co nr it*
t owprna MUD l*
Itarllngtmi Manufarturlng Co 47 91
Dlvos MUD »3 101
I’rarton MUD 103 ——
!>tinrai» Mills 10ft ins
Ittiltnn Mills, T'k pfd
iHuiiam Hnat*fy #% T% pfd «9 46
Durham Hosiery "H" ...»•••».•• 6 v
eastern Mamifarturlng Co —— H
Raglo Yarn MUD •! *3
Kagle an<l\l*hoentx (Da) ..«a.. 143 ITO
Kflrd Mamifkrturlng Ca let ——
Krwln Cotton MU’* Co 144 —*-*•
I'ryln Cotton MUD Ca. •% pfd... lo|
rimt Manufarturlng Co iff
tUffney Manufacturing Cft ...... 91 91
tU)»sou Manufarturlng Co 123 ——*
I flint)* Yarn Mllll fN C.) 49 86
firay Mansfaetiiring Co. ——
otenwoeil Cotton Mills .......... 12A 115
Chirk Mills 129 lit
()rend*| Mills IM
nrrndfl MUD. pfd 1% (par SSO) .. 47 »0
liamil,h Mills 145 , 11*.
ltanrs, V 11. Knitting C 6 J 44
Hanes. P. 11 Knitting Co . 7% pfd }ftl 101
llrnrirtta. T* I*fd. —— If
llttn’et Mf* and C*m.»Co. 1% pfd 98 99
hnprrial Yarn Mills 114 I*l
Inman Mills i*o ——
Inman Mills f# uTd !•! •
.lenninga CcSton Mm ?*0 265
Judann MUD I'9 161
Jttdson MUD 1% pfd lot 104
l.imaaten* Mills 14ft 140
Unford MUD 90 —~
UUa Manufarlttrlh* C0.......00
locks Cottoq MUD Ca m Z7Z
laurtnt f'etron MlUs 148 150
Makwtte Mf* Co JJJ "...
Ma'lDwo Cottiui MUD .......... 41 65
Mills MIM 298 too
MUD Mill 7% M I"!
Mnnarrh MUD (S C) I*l JJJ
MoPohon Manufarturlng C 0....... lit 17J
MenrrsvitD Cotton MUM JJJ JJ
Muagrore f'oiton Mills *o
Myers MUD a.... J 2 JJ
National Yarn Mill }*> JJJ
New) err? Cotton MUD ..•••«..•« 126 131
Norris Cotton MUD Co. •*
i>rr Cotton Mllla 109 lit
Orr Cotton MUD. TAr ffd. ....... *7 99
Cark.lale MUD 9* ••
raeolM Manufarturlng Co 65 206
Pirn'S Manufarturlng Co. f% pfd 163 ——
Piedmont Mfg Co. (K C) I*2 114
Perfection Spinning C 0........... to 41
Poe. r W Mfg Co I*3
Poinsett Mills 97 166
Pri*rUl» Spinning Co.. -77“ 48
RtMto Manufaeturtng Co 118 ——
Ittrwratdo and Dan Rlref 2JO 52*
lltvrrsld* and Dai Rtter 4% pfd.. 101 IJ3
R.twan Cotton Mill* Co.. 91 99
Hoaneko MUD i«t Pfd. 7H% 14t\fc
Hosnok* MUD. ?nd Kd. §%..••.• 67 106
It isrmary. pfd. Hit .....t.l *4
Rhyn* Houser Mfg Co 6°
SB »ot« MUD • • • *66 IJ3
Seminole CoUon MUD Co 46 *7
spartan MUD JJJ J 33
Sterling Spinning Co 166 K 7
Ht .we RplMi ng IV •• •»
Tosawa* At IID tear *33). 91
t nkmdwrralo Mllla ■••*s—--
t Sion IWffaU* Mt*aa, Ist pfd ?*.. 94 9'
1 tUon Buffalo MUD. 2nd pfd.
Vlrtor Monaghan C 0... ... 16TH 166*%
V I'tor-W -naghat* Co. pfd 169 111
Vlrtory Yam MUD Co. ....... *“ '•
Vlrtory 6% pfd 69 69
Hare Shoato Mfg Co 178 195
Watt* MUD. Ist Pfd. TW ....... 141 144
Pali* MUD 2nd pfd Tit ll* *4|
Wlnaet Yarn Mil’s Co 64
H Di'ssaett Mr • ... 144 223
WHttamson Mile ?*»o
*V»t«td« CMt« mil* . ......... *l4 117
W vkislde Cntton M»ID. 1% pM. .. 91 924
W druff Oat ton MUD 149 150
Arrmed interest lo b# Added t# IRhrwil Mock
QU .ration* m
THe at.wka qn.vH a**'** reprwwU i*Hrea at
• i.uh «e bsee b»i*era. and pr\e+ s at whirl* we
ran eeU All Quotation* aubjeri te change with
out notice.
NAVAL STORES
•AVANNAH NAVAL STORIS
SAVANNAH <l* —Turp.ntln., firm,
Sl\.- S.!.*, *6; rer.li't., <*Ji
nifnti, 7P?; .took. ISMS
Ui.Kln firm: r.f.lpt*,
J.ttM: nhti'm.nt.. 8.8A0: *tt>ck..
Ou«1. M P F F O II 1 K M l« ««
« MM: window IT,IS; wat.r
whit., X. |J oa
JACKSONVILLE NAVAL STORSS
JACKSONVILLE, FU —Turp.nlln..
firm: »»).», SS: roorint., IT1; ,hip
mmti 1 . 7: »tock, JS.OTd
M « n. Arm; wilr». »*t; .hlpm.n*.,
IjyU; »hli>ni,nt. «.w); HU‘'k, 10T..S#
Qui'ir 11 10 M »« »« N I* *0; win
dow trim. |T 15, wat.r whltt. IT.TO;
X. IT TO
Chicago Potato Market
CHICAGO. 711 - Potatn.. firm: Mln
n.-.ota and Ni'rth naknt*, / taok.d.
Mad t’.lvrr Ohio'*, E?K-itf*l On; Smith
Hakot*. .ackrd .arlv Ohio'., T*ff*sr;
Mlnnriud. and Wl.ron.ln, aarkrd.
round whit... 75 f) 90c
SPOT COFFEE
NFW TORK -SiH.t coffrr, Hrm;
nio T't, 8 Panto. «'» l*c.
THE AUGUSTA \Xu -0. AUGUSTA, GA.
N. Y. STOCK MARKET
Twenty Twenty
Industrials rail roues.
Saturday lol.cs 90.83
.Friday 102.19 90.98
Week ago 100.94 89.61
High, 1924 104.13 93.15
■ Dow, 1924 30.27 81.00
Total sales 246,600.
NKW YORK—Heavy week-end pro
fit-taking. accelerated by bear at
tacks against a few vulnerable issues,
turned the course of prices downward
in .Saturday's brief session of the mar
ket after an early advance which wa-i
particularly brisk In the Idw priced
rails. Net losses In the active Indus
trial Issues ranged rrom small frac
tions to nearly three points. Bear
pressure centered on American Wool
en which was driven down to within
a small fraction of the year's low at
5114. but It rallied later to 52%, off
%on the day. The preferred touch
ed a new minimum price at 90.
New 192 4peak prices In the railroad
group were established by Frisco com
mon, Chicago ami Eastern !1I!bo:k,
Kansas City Southern and Gulf, Mo
bile and Northern preferred.
Merchandising Irnucs continued In
good demand with nuylng Influenced
by reports of Increased sales. Man
hattan Shirt, ope of the most active
Issues In the group, sold Ui points
higher at 38
United States Tat Tron Pip© was
rup to 117% but reacted two points
on prof It-taking and closed at a
small loss. Flelschmann and’Sim
mons Company also sold at their
best prices of the year.
Motor issues cam© under the rang*
of professional fire. Mack Truck
yielded 1% points to 99; Maxwell “A"
I*4 points to 66>4 and Nash Motors
IV4 to 182. General Electric was one
of th© conspicuously heavy spots In
the Industrial list which was given a
decidedly Irregular appearance. That
stock was forced down almost throe
points to 250%.
Trading In foreign exchanges was
without particular Interest.
NEW YORK.—Securities and eom
inodlt'es markets moved In opposite
directions this week. Stock ami bond
prices advanced In reflection of fa
vorable trade new* and the gradual
disappearance of the speculative ap
prehension over the outcome of the
election. However, the buying of
stocks was of a discriminating char
acter with little effort made to sup
port securities whose quoted values
were out of line with their earning
positions. One of the chief devel p
rnents in the bond market was tho
apparent stabilization of the new Ger
man bonds around 94, or two points
above tho Issue price.
Wheat, prices lost ground despite
an unusually heavy export demand.
Other grains also went lower, liquida
tion of corn futures being Inspired. In
part, by favorable weather reports
from the corn belt. Cotton prices
broke about 70 points Saturday fol
lowing publication of the government
crop rtport net losses In the futures
months ranging about half cent a
pound under last Week. Money rates
continued easy, call loans holding
steady at 2 per cent on the exchange
but. with funds available In the out
side market at 1%. Commercial paper
rates showed a sllahtlv easier tone.
NEW YORK STOCK LIST.
Clobb
American Can 13t%
American International Corp.... 2S
American Locomotive 71*
American Smelting and Refg 7S
American .Sugar aat;
American Tel and Tel 12T*,.
American Tobacco 1*11",
American Woolen LJ
Anaconda Copper 3<; r, l|
Atchleon Hl.'.N.
Fa Id win I.ocomotlve 11K>A
llaltlmbre and Ohio Cl>4
Hothlehcrn Steel |m,
California l’etrolcu m 2T*i
Canadian I’alcflc lis^
Central Leather pfd 4(0,
Cerro do Faaco f,
Cheaapealte and Ohio s.'ll;
Chicago, Mil and St Haul pfd.... 22i;
Chicago and Northwestern dn'i
Chicago, 11 I and l’ac, 53 7 ,,
Chile Copper 321;
Cocß-Cola 7iP,i
Congoleum 41
Coneolldnted Has 70%
Consolidated Textile 2§
Continental Can 57
Corn Products, new 3f.T,
Coaden Oil 2*1%
Crucible Steel 83%
Culinn Cone Sugar pfd f>C
Cuban American Sugar 21*1,
DuPont de Nemours 12K*.i,
Davlaon Chemical 4iF.j
Kamnus J'layere-Lasky s:t1 3
General Electrlo 250',,
General Motors CS
Great Northern pfd 61%
Gulf States Steel O
Houston Oil 69
Illinois Central .....lost/.
International Harvester 93%
Int Mer mar pfd ]!*'-
Invincible Oil 137 k
Hudson Motors 20 7 *
Kennecott Copper 46%
Mack Truck !OS%
Marlnnd Oil 35
Middle States Oil
Missouri, Kan and Tex 16
Missouri Pacific pfd 57%
New York Central 10SU
N Y, N H and Hartford 20
Norfolk and Western 125%
Northern Pacific 6:!%
Pacific Oil 59
Pennsylvania 45%
PhUllpms Petroleum NNN..N..N 34
Producers and lfcflners 26*1
Pure OH 23%
Reading 62
Republic Iron and Steel 43%
Reynolds Tobacco II 751 -
St land* Southwestern 41 %
Seaboard Air Line 16%
Seaboard Air Line pfd 29
Sears-Koehtick lu*»
Sinclair Con fs%
Southern Pacific 94
Southern Railway 60%
Southern Railway pfd 77%
Standard OH of Cal 59
Standard OH of N J. 30
Stewart Warner 54
Stmlebaker Corporation 39
Texas Company . 41%
Texas and Pacific u
Tobacco Products 65%
Transcontinental OH 4<4
Union Pacific >3>i%
U S Cast Iron if*
U S Ind Acl 73%
United States Rubber 32%
United States Steel 1"7%
Wctlnghnuee Electric 0;
Wlllys-Overlami pfd 07v;
Yellow Cab Mfg. 50%
Loew'a Inc is
•, ——...—-
FOREIGN EXCHANGE
NFW YORK- Foreign exchanges,
steady Quotations In cents:
Great Rntatn, demand. 449 15-16;
cables, 4.49 3-16; fD-dsy bills on banks.
4 46 3-16.
France, demand 5 20%; cnblea 5 21.
Italy, demand. 4 31' ; cables. 4 3?
Rrlglum. demand 4 79: cal lea 1
Germany, demand pc. trillion, .23%.
Holland, demand 33 23
Norway, demand 14 21
Sweden, demand. 26 00
Denmark, demand 17 15
Swltserland. demand 19 23
Spain, demand 13 41%.
Greece, demand 1 74.
Poland, demand, .19%.
CSecho-Slovakla. demand. 2 95*2.
Jugo-Slavla. demand 1 44
Austria, demand, .0914%.
Human's, demand r.ot;.
Argentina, demand 36 02.
Hraall, demand 11 30
Tokln, demand ,39,
Montreal. di—:md. 9» *3-64
LIBERTY BONDS
NEW YORK.—United States gov
ernment bonds closed
Liberty 3%'. slOl x
First 4% > 102 1 i
Second 4% S irti 23
Third 4%’s 102 H
Fourth 4Vi's 102 99
Treasury 4%'s 104 30
WEEKLY WCATHER FORECAST.
WASHINGTON. D C. Weather
outlook for the week beginning 31,m
--dav :
Stwith Atlantic and Fast Gulf
States: Generally fair except prohablv
rain Monday along the Carolina and
Georg* coasts Temperature near
noriqpl.
NEW YORK BONDS
Sat’day. Friday.
Ten first grade rails .. 89.36 89.47
Ten .secondary rails.... 88.47 88.40
'Jen public utlltiea 91.15 91.12
Ten industrials 95.06 95.05
Combined average 91.01 91.10
Combined month ago... 91.16
Year ago 86.53
Total sales 6,220,000.
NEW YORK.—Bond prices failed to
develop a definite trend in Saturday’s
extremely quiet trading. Fluctua
tions were narrow and about evenly
• itvideTr-bet ween gains and losses,
having the average foe the day un
changed.
Speculative railroad Issues provided
the only trading feature of the day as
renewed buying of the St. Paul bonds
brought advances of one to 1% points.
International Great Nodthern adjust
ment 6-5 and Norfolk and Western
convertible 6’s al«o moved higher.
Bonds of the Swedish government
were easy in reflection of the new
$30,000,000 Swedish loan which will
usher in next week’s new financing.
Other foreign and United States gov
ernment obligations were firm.
Bankers announced the private dis
tribution of several pw railroad Is
; lies, Including $3,900,000 Missouri Pa
cific five per dent equipment notes,
$3,285,000 Texas and Pacific equip
ment 6*s and $3,975.0f1i American
frige rotor Transit five and one-half
per cent equipments.
FOREIGN
Argentine 6s 63.7
Austrian U**vt gtd loan 75........ 94.4
bom of Canada ss, 1952 103
Dutch Eats Indies 6, 1962 95.5
Frenc Republic
Japan
Kingdom of Belgium 7%s 109.3
U K of G B and Ire Gfts, 1937..105.2
U S of Brazil 8s 96.2
DOMESTIC.
Amer Agr Chem 7 J 4» 95
Amer Smelting 5s 96.1
American Sugar 6s 98.7
Amer TeJ and Tel deb s Vis 103
Anaconda Cop G,« 1953 97.7
At T and San Fe gen 4s 90
Balt and Ohio cv 4Vfcs 89.4
Central Leather 5s 100.3
Chesapeake and Ohio cv 5s 97.4
Chic and Alton 3Vi« 43.6
Chic Great Western 4s 58.4
Chi, Mil and *St Paul cv 4V&1.... 53.7
Chic and Northwest re.f 5s 99.2
Chicago. It I Pacific ref 4s 82
chile Copper 6s 105.4
Cuba Cane Sugar deb 8s stpd.. 93.6
DuPont de Nem 7V 2 s 107.6
Empire Gas and Fuel 7V4* 96.7
Erie gen lien 4s 63.4
Goodyear Tire Bs, 1931 107.5
Great Northern 7s A 109.2
Inter and Gt Northern adj 65.... 61.2
Inter Merc Marne s f 6s 87
KeJly-Sprlngfield Tire 8s 98
Mo Kan and Tex new adj 5s A... 63
Missouri Pacific gen 4s C 2.4
N Y Central deb 6s 107.6
N y. N H and H francs 7% 86.3
Norfolk and Western cv 65.... 125
Northern Pacific ref 6s B 107.4
Penna It R gen C* 102.6
Punta Alegre Sugar 7s 105.4
Reading gen 4s 94
St L and San Fran Inc 6s 71.6
Seaboard Air I/ne con 6s 82.2
Sinclair Con Oil col 7s 90
Southern Pacific cv 4s 97.3
Southern Railway gen 4s 74.5
Southern Railway 6s 102.6
Union pacific Ist 4s 91,.6
r s Steel s f 5s 104.7
Vn-Caro Chemical 7s ...•.... 59
V4rginia Railway 5s 96
Wilson and Co s f 7V&s 52.4
Willys-Overland 6Vfcs 99.3
STOCKS ANO BONDS
(Corrected by T. D. Carey & Co.l
STOCKS; Bid. Ask.
Augusta Factory lo -
Augusta and Ka« R. R... 91 98
Bon Air Hotel Cor. com... 62 67
Bon Air Hotel, l»fd 62 67
Citizens & Sou. Bank 250 255
Kntrrprise Mfg. Co 96 102
Georgia It. R. Bank C 0... 195 198
Craniteville Mfg. Co 165
John P. King pfd 104
John P. King, com 110 120
National Kxohange Bank. 106 110
Sibley Manufacturing Co.. 65 75
Southwestern Railway ... 99 101
Union Savings Bank 140 15*
BONDS: Bid Ask.
Augusta Factory Ba, 1941. 99 101
Bon Air Hotel 7a. J942...101 103
City of Auguata (basis).. .4.85%
Ga. R. R. Bkg. 4s. 1947 83 85
Ga. R. R. & Bit.'Co 6m 1951..108
Granltevllle Co. 7s, 1942... 101 10.3
Langley Mills 7s, 1943 ... 97 9S
Sibley Mfg Co . 7f. 1942. .101 —-
State of Georgia (basis). .4.25 V&
N. Y. BANK STATEMENT
NKW YORK.—Tho actual condition
of clearing house banks and trust
companies for the week shows a de
ficit in reserve of $5,816,210. This Is
a decrease of $12.205,590 ( compared
with last week.
The statement follows:
Loans, discounts, etc... .$5,516,959,000
Increase 57,754,000
Cash In ownt vaults,
members F. R. hanks.. 600,891^)00
Decrease 40,903,000
Reserve In own vaults,
state banks and trust
companies 8,522.000
Increase 195,000
Reserve in depositaries
sttae banks and trust
companies 20.329.000
Decrease 1,1 OS,OOO
x— Net demand deposits.. 4,650,025.000
Decrease 1,647,000
Time deposit* 611.597.000
Increase 18.348.0f10
Circulation 32.394.000
Increase 106,000
x—United States deposits
deducted 32,501.000
Aggregate reserve 619.742.000
Deficit In reserve 5.816,210
Decrease 42.205.890
LIVESTOCK MARKET
CHICAGO CATTLE. HOG AND
SHEEP RECEIPTS.
CHICAGO, lll.—Hogs: Receipts 6.-
‘»)0, steady to mostly 10 cents lower;
light-lights and slaughter pigs. dull.
26c off; demand narrow; top, $10.60;
hulk good and choice. ISO® 325-pound
weight. $9.4"@>10.25; bulk packing
sows. ss9o(i9 15; slaughter pigs,
largely. $7.1)0®7.50.
Cattle: Receipts, 1,000; compared
week ago, weighty fed ateers and in
between, 26c to 60c lower; yearlings,
and better grade lightweight, 15c to
23c higher; fat she stock ami calves.
25e to Bt*c higher; hulls, 15c to 25c up;
for week top yearlings. $12.55; year's
high; best matured steers. $11.00;
week's bulk prices follow; Fed steers
and yearlings. $8 23® 11.50: fat cows,
$»O0 f 5.7 . betters, $4 5007.50; veal
calves, $9.50(110 50.
Sheep: Receipts. 1.100; Saturday's
receipts direct to local fed lots; for
week, lambs. 75c to Sso higher; range
offerings. $13.50013 85; top natives.
sl3 25; sheep, strong to 25c higher;
feed'ng lambs, fully 25c higher; hulk
sl2 25012.50; rangs breeding ewes,
mostly $6.50 0 7.50,
ATLANTA CATTLE AND HOO
RECEIPTS
ATT.ANTA. Ua.—Cattle: Receipts,
100. for week, general market dull;
weak to 25c lower: bulk so rthe week
beef steers. $3.7505.25: stockers $3 50.
I'M 50; beef cows, $3 00®4 00; cutters.
$2.50®2 75: canners, $1.750 2 23; calves
$5 004 f« 00.
llogs: Receipts, 500 for the week,
market very uneven. 25c to 75c low
er; mostly Me lower; extreme top,
Mt.RO: hulk. 1,070 pounds and up.
$lO 00:? u.oo. 13MU«d pounds. $9 50.
*710.60; slaughter pigs. $9 7509 50:
stockej pigs. $8.75 down; packing
sowa. $5 75 09.50.
CATTLE MARKET
(Corrected by Augusta Stock Tards.)
CATTML
Common 2 ®*H
Ordinary 3 ®3»4
Good 3404
Fancy 4465
CALVES.
Common 4 OR
Ordinary g ®7
Good 7 ®7U
Fancy 8 ®SH
Peanut Shelling Plant
to Be Operated Mere
Georgia Cotton Oil Company
to Begin Operations In Few
Weeks—Will Teach Farm
ers to Grow and Harvest
Peanut Crop
The Georgia Cotton Oil Company
will begin operating Its peanut
shelling plant—a long needed in
dustry In Augusta—on or about
December Ist, Edward A. Eve,
manager, told The Herald
day. •
The newly formed corporation
has bought out the properties of
the American Cotton Oil company
located at 620 Twelfth Street. It
is the Intention of the management
to make Augusta the center of pea
nut shelling in this part of Geor
gia and South Carolina. The daily
capacity of the shelling plant will
be 40 tons—from ttvo to three car
loads.
Shelling machinery Is being In
stalled and work In a general way
Is being done on the plant. The
program calls for completion of the
work soon enough to enable the
plant to begin crushing cotton
seed and shelling peanuts the lat
ter part of November or about the
Ist of December. A good cotton
oil business Is Indicated for the new
company in additon to a very large
peanut shelling business.
A program to be introduced by
the officers of the mill In the fu
ture will he to stimulate Interest In
CHICAGO GRAIN MARKET
WHEAT—
Open High Low Close
Dec .... 141 K 143% 139% 14114
May .... 145“ 147% 144% 146
Julv .... 130% 132% 130>4 130%
CORN—
Dec .... 10114 103% 100% 101%
May 104 K 107 104 105
Julv ....« 104 v, 107% 101% 105%
OATS—
Dec 48149% 48 48%
May 5214 53% .52% 52%
Julv • 50% 51% *50% 51
RYE—
Dec .... 12.1% 128 120% 122%
Mav .... 125 128% 122% 124
Jul,' .... 112 112% 111%6 111.
T,AHU-
Nov ... 1430 150(1 1485 1437
Jan .... 1310 1370 1340 1352
ribs—
Nov .... 1270
Jan ... 1227 1227 1215 1220
BELLIES—
Nov ... 1387
CHICAGO CASH GRAIN
CHICAGO. Ill—Wheat No. 2. hard,
51.33%'51.40%; No. 3 hard, *1.39%©-
1.44.
Corn, Nn. 2. mixed, $1.03%; No. 4,
yellow. *1.02©'.02%.
Oats. Nn. 2. white, 47%©47%c; No.
3. white. 454M5%e.
Rye. No 2. *1.22.
Bariev. 754780 c.
Timothy. *4.75476 50.
Clover. *18.00(1723 00.
Lard. *15.60. Ribs. *13.50. Bellies,
fit.7s.
St. Louis Cask Grain
ST. LOUIS.—Cash wheat. No. 2.
red. $1.53: No. 3. red. *1.474/1.5(1.
Corn No. 2; white. *1.03%© 1.04%;
No. 2. yellow, J1.02<51.04%.
Outs. No. 2, white. 49c; No. 3. white,
46%@48c. %
METAL MARKET
NEW YORK —There was hesita
tlnn in the demand for steel this week
with the undertone nervous and
prices irregular—ln some cases slight
ly lower. The attitude of buyers was
attributed to a desire to limit opera
tions until after the general elections.
Recent buying by railroads, however,
has been quite atclve and production
is believed to be bolding up to about
the September basis. Fig Iron was
very quiet and prices showed a sag
ging tendency.
Copper was firm. No large volume
of business has been reported but a
fairlv steady demand has encouraged
sellers.
Tin was also firm in sympathy with
London. Consumers hes’tate. declar
ing the has been too rapid.
Zinc, showed further gains and a
hotter Inquin*.
Antimony firm without Increase of
offerings.
COTTONSEED OIL
NKW YORK—The cottonseed nil
market was easier Fnturday on the
government condition report, nn
easier tone to erode and a further
sharp break in October lard, but
shorts were fair hovers and checked
th edeeltne The close was steady at
five to 15 points net decline.
Prime summer yellow. bid. *l6 56
Prime crude $8.75© 9,n0
October 11.60
November 1045
December 10."6
January me,
February 16 28
March 16 48
Anrll 16.56
Mav 10C*
Sales 9.706 barrels.
DAIRY MARKET
NEW vnpw RIJTTrR wests AND
CHEESE RECEIPTS.
NEW TORK —Butter, firm: erenm
cry. higher Gian extras, 39®39Ue;
eroamerv extras, SStfflS'ic: creamery
firsts. 33®37'ie.
Eggs, firm; refrlgerntor firsts. 39®-
40e.
Cheese, Irregular. /
T.lve poultry, irregular: no freight
ouotatlons; exnress -quotations. un
rhanged. Dressed poultry, firm and
unchanged.
CHICAGO BUTTER EC-O AND
POULTRY RECEIPTS.
CHICAGO.—Butter, lower: cream
ery. extras, S7e: standards. 34t;c: ex
tra firsts. 34 ’a® 36c; firsts. 30'5©32c;
seconds. 28®29c.
Eggs, higher: first*. 41H48e; ordi
nary firsts. 37®390.
Toultry. alive, lvgher; fowla, 16(7-
St’jc; springs. 21Hc: roosters. 13c;
turkeys. 25e.
PRODUCE MARKET
Flour—llsrd wheat. 9S-lb. cot
ton sacks, bbl 87.75
Flour—Plain. 95-lb. sks., bbl.. 770
Flour— 8.-R., ska , bbl 7.80
Flour—S.-R.. 4S-lb. ak« . bbls .. 7.15
Flour—Best plain. 98-lb. sks.,
barrel *.75
Flour—ft -R., 24-tb. sks. bbl... 7.10
Flour—?-It 24-Ib. sks.. bbls.. «55
Ruekheat 24-pkg case 335
Grlta, 2t 2s. per case. 1.90
Grits. 1? 3s. rer ea*e 1.90
Grits, fine and medium. 90s
per sack 2 40
Meal, 90s. per sack 2.50
Meat, 435. per sack 1 221 j
Meal. ?4s, per sack .65
Rice— Fancy. No 564 or Nd. fl 3.
100-lb. sks.. lb 06%
Rice, fancy. No 65, 1b... 07%
Wesson Cooking Oil. 24 pints.. 5 75
Wesson Cooking Oil. 12-qt. case 5 49
Wesson Oil. 6 1-ga’ cans case. 980
Axle Grease. 10c size. 1-lb., 4
dmen - 3 75
SEFOS.
Amber Cane, 150-!b. sk* *0
peanut growing among the farm
ers of this section of Georgia and
South Carolina. These activities
will probably extend beyond the
Augusta territory in each state.
The management of the company
is convinced that peanuts will
prove to be a financial bulwark
for the farmers in view of the un
certainty and losses In cotton be
cause of the ravages of the boll
weevil.
FARMERS WILL BE
SHOWN BEST METHOD
Farmers will be shown how to
harvest and care for their peanuts
in order to get the best price the
market affords for them. A great
many peanuts are reported to have
hen damaged this year because of
the careless way in which they
have ben stacked. This lowers
the grade, and. of course, the price
is less. The best way to culti
vate this crop will also be to take
up with the farmers by practical
peanut men who are experts with
years of training. Rain
the crop this year.
Because of the late start, acti
vity of the peanut plant will be
confined to shelling and grading.
Expansion of this plant will be
along the line of finished products
As the supply of peanuts increase
the shelling plant will he enlarged
accordingly. This year the peanut
plant will employ about forty
workers. Tlie plant has a storage
capacity for thousands of tons of
peanuts and cotton se-ed.
Mr. Eve is a native of Beech Is
land/ and well known to the citi
zens of Augusta and in this section
of Georgia and South Carolina. Hu
Is a son of Dr. W. R. Eve. Opera
tion of *%e plant and supervision of
all of the plant s business will bo
in charge of Mr. Eve. He is not
only an experienced peanut mill
man of years, but is known to hun
dreds of farmers in the two states
because of his activities in intro
ducing peanuts, as a money cron, in
two states. Some *10.006 has been
expended by him in furthering this
crop. Long before the boll weevil
reached this section of the cotton
WEEKLY REVIEW BEHIND THE SCENES IN THE
BUSINESS WORLD
Many Trade Movements
Await Election Results
Readjustment of Prices and Wages One of Big Problems
Ahead of Business Before Definite Upswing
By JOHN T. FLYNN
NEW YORK—There is a general
pause in Industry now. This is every
where manifest, save in the distribu
tion of the fruits of the farm and in
this department the operations of the
railroads in the transportation of grain
on a scale never before reached in
dicate the extent to which the farmer
is cashing in on his good luck. How
ever, this will soon be over and so
will the election. In the remaining
months of the year then we are likely
to see the following factors at work:
A stabilizing of prices around the
present levels;
A readjustment of W’ages In some
Industries;
A breathing spell In the flotation of
large bond issues;
An Improvement in employment and
ft very gradual and cautious resump
tion of business.
The chart published with this review
gives some idea of the course of living
costs and wages. Wages have held
pretty steadily around a high level and
have shown a slight disposition lately
to follow the downward curve in the
cost of living. There is a feufticient
spread between living costs wages
to afford employers a fruitful ground
for discussing wage readjustments. If
these readjustments can be gotten over
before the end of the year without dis
location of industry, we should see
an era of strortg, sound and profitable
business expansion beginning with the
first of the year.
The Election Discounted f
What of the slight gain fn security
prices? Apparently the stock market
has discounted the election. Stocks
have been brought to a level where
they are prepared to withstand any
election emergency. That being the
case, it is quite natural that some
traders should venture to speculate
upon their optimism. The trading is
small, however, nnd unless some ex
ceptional piece of distressing news or
some altogether unexpected overturn
occurs, the situation Should remain
fairly stationary until after Novenv
ber 4. /
Muncy Rates -
One Important Wall Street operator
believes that ney will continue easy
not only for three or four months, hut
for a year or two more at least. His
reasons are plausible. First, our gold
reserve Is so large that It will take
at least that lone to bring It down
to a point where its contraetlon would
have a serious effect on the market.
Second, the prospect of gold coming
In In excess of our shipments abroad
for several years Is such that we will
>"e little contraction In the reserve
These who think heavy foreign loans
will drain It away overlook the fart
that from Ene'and alone we will be
getting $181).000.909 a year and tha'
other nations who owe us billions wil>
shortly take up the question of re
funding. so that as we send awav
gold on new loans we will continue to
receive gold on old ones.
Those who think the money rates
will rl«e in a few months point to the
declining Imports of gold. The net
Imports for the last six months are
as follows;
Slate Bureau of Markets
Trices below are those which wholesalers are paying F. O B thess
consuming centers. To arrive at pricea net shippers, deduct freight to
most favorable point.
- Atrta Ai’S'ta Macon Sav’nah Col'bua
Sweet potatoes. Yel. bulk load-
Ins. ICO pounds $ 2.00 2.25 )2 25 | 2.25 $2 50
Irish Potatoes, .No. 1 new, per
150-lb. sack 2.50 2 60 2 55 2.90 2 65
Cabbage (green crated) 100 lbs... 173 1.75 1.75 2.00 225
Hlack eye peas, pound 0311
Brown eye peas, pound 04 —— —... j 04™
Eggs, fresh candled, dozen 37 .37 .36 40 ’4l
Stags, pound 21 .22 .22 22 ‘j?
Hens, pound 22 .23 .22 25
Rooster*, pound lU* ,11U .11 .11 12
Friers and broilers, 1 to 2 lb*.
pound ... 25 .26 .23 .31 .30
Ducks, pound 20 .13 .1* 25 27
Geese, pound 15 .13 .1; 'ou 'l7
Turkeys (hens), pound "7 1 4 .25 23 « * «
Turkey Itnmii, pc ind 57',* .25 .23 •
Country butter (host table), lb.. .33 .3) ..73 3; ,7
Country butter (cook'ng). pound. 20 21 20 27 ji
Ga. cane syrup (Bb! ), gal 73 .73 .;<* ‘75 .?
Corn meal, per «9-!b sack .... 285 2.90 280 2“0 inn
Corn. No. t (Whits) sacked, bn.- 1 43'i 1 144 1.4314 148 , 4-^
Cots No. 2 (white) aai-kad, bu .., .711, 7.7 .71% 7ju w'
I '* a • t,lo ° « » ti.it* 22 M
SUNDAY, OCTOBER 26
STOCKS AND
BONDS.
belt, Mr. Eve realized what it
would mean to the farmers in a fin
ancial way and -started out on his
program of growing pjanuta as a
money crap.
IS VALUABLE PART
OF FOOD SUPPLY ,
“This oncte insignifleent little
root-crop,” said Mr. Eve, "has re
cently grown to unbelievable pro
portions and is now cutting a very
important figure among the food
supply of the world. Food experts
have discovered that the peanut
•contains an abundance of whole
some food value, —more than any
other available product, vegetable
or animal. And Urtre is practical
ly no limit to of peanut
products that will be consumed In
various forms when its true food
value becomes generally known.
At this time, thousands of car
loads of peanuts are shipped from
the South to the markets to the
No.rth yearly. It Is the money
crop to supplement cotton.”
Sir. Eve says that he Is delighted
to get baQk among the friends of
his boyhood, and to again be In
touch with his friends who grow
peanuts In this section.
John T. Stevens, a leader among
the oil mill men of South Carolina,
is president of the Georgia Cotton
Oil Company. He Is very enthu
siastic over the excellent pros
pects of building up a large busi
ness in this section through tha
manufacture of both cotton seed
and peanut products.
J. G. Perkins, a well known cot
ton oil mill and popular among tha
farmers of this section is now in
the employ of the Georgia Cotton
Oil Company. He will soon he on
the road to buy peanuts for the
plant. Mr. Perkins will travel
manv miles In Georgia and South
Karolina buying peanuts and teach
ing the farmers more about the
importance of peanuts and the fu
ture of this ntit as a money crop,
also, thp best methods of producing
them profitably.
PEANUT QUOTATIONS
(By THE GA. COTTON OIL CO.)
Carload lots f o. b. shipping point,
*BS. tVagon load lots, *B2 per ton.
(These quotations are subject to
change without notice.)
BAR SILVER.
NEW YORK. Bas silver, 70;
Mexican dollars, 53%.
Co Jl°^ /w/ !^ mES \
ftp, <;-k: cr%!.y;'-. •/;* :•&
II Shaded PORTION INOI * J 1
m c/rrss cost or iiv/nc, - *
ri t/PPER l/NE WflgfS. !
fTsio nix I 19*3 |m4-
April *44,928,900
May 46.480,000
June 21,913,000
July 18,507.000
August 15,753,060
September 1,976,000
There can be nn doubt that this
steady dscrease In the net Imports of
gold is significant. Of course there is
still r balance in our favor and ns
long as this continues, no matter how
small, our existing surplus will remain
intact, indeed we would have to con
tinue to have nn excess of exports of
gold for a long period before we would
see our gold reserves seriously affected.
They now amount, according to most
authorities, to not less than a billion
mere than we need.
After Election —lT halt
At least one answer comes from the
steel mills. Buying now is slow.
Production Is holding close to the
September rate, but orders come for
ward in small quantity. It is known
that large programs are under way
which would Justify the expectation of
heavier purchases now. Since the
purchases do not come the belief i.i
general that all are waiting upon the
election. That being so the opinion is
equally fixed, in th« steel mills at least,
that the weeks following the election
will see a developing buying campaign.
Confirmed by Auto Makers
Automobile makers confirm this
view. Production In this Industry has f
also Jogged along around the Septem
ber rate The latter part of this
quarter Is usually a bit slow In this
trade, but manufacturers are looking
for a speeding up, first, because they
think the country will be over its usual
mid-campaign lethargy and secondly,
they think the farmer will have his
profits in his till bv that time and will
be In the market full tilt. There Is a
great change In the spirit of this In
dustry now as compared with a year
ago. Then the most Inflated visions Of
the coming spring were In the sir.
Now no preparations are being made
by the Industry to meet an extra
ordinary demand for cars In the spring
of 1925. Output for the present Is
gelr.g as s rule directly to owner-con
sumers. dealers keeping minimum
•treks on hand and replenishing them
only as necessity Justifies. Thers Is
no forcing of cars on dealers.
(Cenrlftt ts V. P. C. Kati Scrtice. tm )