Newspaper Page Text
WEDNESDAY, NOV. 12
COTTON AND
GRAIN,
THE WEATHER
Forecast till 8 a. m. tomorrow.)
Augusta and vicinity: Partly cloudy
and colder tonight: Thursday fair.
Georgia: Partly cloudy tonight, cold
er in north portion; Thursday fair.
Weather Conditions.
The western low pressure passed
into the Lake Region to be replaced
in the Mississippi Valley by high pres
sure and fair, cool weather.
Some cloudiness with scattered light
rainfall continues over the Southern
States.
Weather Data.
Highest temperature yesterday, <IS;
lowest temperature this morning 50.
River stage at Ba. m. 8.3. Fall
In 21 hours ending S a. m. .2.
Moon sets 8:35 a. m. Thursday.
Relative humidity yesterday. 8 a.
m. 76; 12:80 p. m. 74; 8 p. m. 81.
E. D. 13MIGH.
AUGUSTA COTTON
Spots 24.31
Tuesday . . . 24.31
Last Year. , 32.19
PRICES BY GRADE
Close
Middling fair 23.31
Strict good middling 25.06
Good middling 24.81
Strict middling 21.68
Middling 24.31
Strict low middling 23.31
Low middling 22.31
Strict good middling 21.31
Good ordinary 20.31
receiptsTnd sales
Re- Spin- Ship- yeas
celpts Sales ners ments r'pte
Saturday 1487 803 136 620 1630
Monday 1941) 273 100 547 5045
Tuesday 1793 620 371 203 2630
Wednesd'y 1474 689 100 1511
Receipts from August Ist. 1924
to November 12th, 1924 120,498
Receipts from August Ist. 1923
to November 14th. 1923 117,550
Stock in Augusta November
12th 1924 53,748
Stock In Augusta November
14th, 1923 55,668
O O
I I
CLOBING QUOTATIONS ON I
NEW ORLEANS AND NEW |
YORK COTTON EXCHANGES |
1 I
O O
The following quotations from New
York and New Orleans were posted
rn the Augusta Cotton Exchange
Wednesday:
NEW YORK.
Prev.
Open High Low Close doss
.'lan. .. 24.40 24.72 71.35 34.51. 24.50
Mar .. 24.78 35.02 24.62 24 75 24.76
Mav .. 24.0 S 25.30 24.92 25.04 25.06
July .. 24.80 25.00 24.75 24.80 24.60
Dec. .. 34.10 24 52 24 08 24.38 24.28
NEW ORLEANS.
Prev.
Open High Low Close close
.lan. .. 24.28 24.57 24.19 24.39 24.24
Mar. .. 24.46 24.50 24.44 24.61 24.30
Mav .. 24.C3 25.04 24.63 24.88 24.77
July .. —— 24.85 24.75 24.70 24 56
Dec. .. 24.25 24.55 24.18 24.33 24 "
NEW YORK COTTON
NEW YORK.—The cotton market
opened steady Wednesday at un
changed prices to a decline of 16
points under overnight selling orders
and local pressure inspired by re
latively easy Liverpool cables and bel
ief that reactions were due after re
cent rapid advances.
The initial offerings were quickly
absorbed by trade or speculative buy
ing and the market turned upward on
a flurrv of covering. January ad
vancing from 22.40 to 24 70 or 20 peinte
net higher within the first few minu
tes. This bulge was not fully main
tained but the market continued ac
tive an ruled about 8 to 11 points
above Tuesday’s closing at ths end of
the first hour.
The early advance was cheeked by
realising at 24.72 for January and the
market eased off late in the morn
ing under renewed selling for a re
action. January fell back to Tues
day's closing level around 24.50 but
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.
This week Mr. Babson
discusses the great copper
fields of Africa and the
development of that coun
try. He points out that
Africa can match or ex
ceed practically all of
our American natural re
sources. It is suggested
to business men of Amer
ica that instead of going
to Europe and spending
one’s time in London and
Paris that a trip be made
to Africa and the situa
tion there be studied, be
cause that country is des
tined to become an in
creasingly important fac
tor in our industrial
world.
Mr. Babson says that
the development o f
Africa is something that
should be watched by
every banker, manufac
turer and merchant a* its
development will affect
business in this country.
Read Babson’s article
every Friday on the
Market Page of The Au
gusta Herald. He is
America’s foremost busi
ness observer and statis
tician.
THE AUGUSTA HERALD
Augusta, Ga.
=Financial and Commercial Nem=
trade buying on the decline held the
market fairly steady at midday.
NEW YORK SPOTS.
NEW YORK.—Spot cotton steady,
middling 21.60.
NEW ORLEANS COTTON
NEW ORLEANS.—The cotton mar
: ket opened about unchanged and soon
; eased off four to six points on lndlf
| ferent Llverpool'oablots and a favor
able weekly weather and crop eum-
I mary from Washington. Good buying
then developed and contracts became
scarce. As a result December traded
1 as high as 24.55, January 24 56 and
March 24.76 or 28 to 33 points above
Mouday's closimt. Constructive Influ
ence was the re\lval of activity In the
cotton goods trade, brisk business
being reported both by New York and
Fall River.
The market continued firm to the
end of the first hour. January' trad
ing as high as 24.67 and March up to
24.80, new highs and 30 to 83 points
above Monday’s close. The firm tone
was largely due to an estimate by a
prominent authority of 647,000 bales
consumed by domest Ic mills during
October ns compared with 435.216
bales consumed during Sepetmber and
543,260 consumed in October last
year. Later In the morning prices
cased off 20 points on realising due to
reactions In stocks and grain. Hous
ton cleared Wednesday 31,646 bales
and New Orleafls 14.436.
Following the easier spoil around
noon the market became steadier and
fluctuated within a very narrow range
during the greater part of the after
noon pivoting around 24.36 for De
cember and January and 24.60 for
March. Liverpool cabled that the
market was overbought and there
was more or less selling of hedges In
American markets against recent pur
chases of spots. The reactionary ten
dency in stocks appears to have
checked for the time being the spe
culative huylng of cotton. Total ex
ports from American ports for the day
toetailed 47,137 bales.
NEW ORLEANS SPOTS.
NEW ORLEANS. Spot cotton
steady ten points up; sales on the spot
I. to arrive 525. Low middling
22.35; middling 24.36: good middling
24.85; receipts 16,587; stock 317,2G1.
LIVERPOOL MARKET
LIVERPOOL. Cotton spot fair
demand; prices steady.
Strictly good middling 14.42
Good middling 14.07
Strictly middling 13.87
Middling 13.67
Strictly low middling 13.47
Low middling 13.02
Strictly good ordinary 12.62
Gnod ordinary 12.02
Sales 6,000 bales, including 14,000
American. Receipts 4.000 bales in
cluding 3,800 American.
Futures closed steady.
November 13.66
December 13.62
January 13.65
March 13.70
May 18.75
July 13.63
October 13.05
LIVESTOCK MARKET
CHICAGO CATTLE, HOG AND
SHEEP RECEIPTS.
CHICAGO. Hogs. 33,000 steady;
Bulk desirable 200 to 325 pound but
chers $9.45 to 9.75; 140 to 180 pound
averages $8.25 to 9.25; bulk packing
sows SB.BO to 9.10; majority strong
weight slaughter pigs $7.60 to 8.00.
Cattle, 18,000; bids unevenly lower
on both grassy and short fed natives
and western grassers; soma highly
finished handyweight Bteers held
above $12.5(L heavies averaging
around 1,500 pounds 10.00 bulls steady
to weak.
Sheep, 16.000 active; fat lambs
steady to strong; undertone strong;
early bulk natives and comebncks
$13.50 to 13.85; most culls $10.50 to
11. fat sheep and feeding lambs
unchanged.
ATLANTA CATTLE AND HOG
RECEIPTS
ATLANTA, Ga.—Cattle 100 steady
very few on sale. Light steers and
beef cows $3 25 to 4.50. Cutters $2.75
to 3.00; banners $2.00 to $2.50. Other
classes extremely scarce.
Hogs, 900. Uneven, strong to 80c
higher, most advance on pigs 180 to
250 pounds $10.50 largely, selected In
dividually $10.75: 130 to 160 pounds
$9.50 to $9.75: slaughter pigs $9.00 to
9.25. Light pigs $8.25.
CHICAGO GRAIN MARKET
CHICAGO.—With reports at hand
telling of general rain in Argentina,
wheat underwent a decided setback In
price Wednesday during the early
dealings here. The opening which
range from 2 to 3% lower was fol
lowed by rallies of l%c or more.
After opening % to 2%c down corn
recovered most of the loss.
Oats started at half to l%c lower
and steadied at about %c under Mon
day’s finish.
Provisions were responsive to grain
weakness notwithstanding that hog
values showed comparative strength.
Wheat closed unsettled 1% to 2e
decline.
Corn closed strong, 11,4 tb 2%c net
higher.
WHEAT—
Onen High Low Close
Dae. ... 150 15294 150 152%
May ... 157% 159% 157% 159%
July ... 137 139% 136% 139%
CORN—
Dec. ... 109 112% 109 112%
May 11.1% 117% 113% 117%
July ... 114% 118% 144% 118%
OATS—
Dee 51 52% 51 52%
May 55 67% 56 57%
July .... 54% 56 54% 58
RYE—
D«c. ... 135 137% 135 187%
May 136% 139 136% 133%
July ... 123 125 122 125
LARD—
Nov. ... 1432 1432 14*0 1470
Jan. ... 1415 1425 1402 1417
RIBS—
Nov. ... 1260
Jan. ... 1250
BELLIES—
Nov. ... 1177
Jan. ... 1245 1245 1245 1245
CHICAGO GRAIN MARKET
CHICAGO. —Wheat No. 1 hard 152
to 153%; No. 2 hard 148% to 152.
Corn No. 2 mired 111 to 112%; No.
2 vellow 111% to 112; Oats No. 2
white 52 to 52%; No. 3 white 49% to
50%. Rye No. 2, 134 to 135; barley 78
to 88.
Timothy 486 to 650. Clover 1800 to
2900. Lard 1482: riba 1350; bellies
1425.
St. Louis Gash Grain
RT. t.OUIB —Cash wheat No. 2 red
163 to 165; No. 2 157 to 180.
Corn No 2 white 111%: No. 2 yel
low 171. Oats No. 2 white 54 to 54 %;
No. 3 white 52% to 53.
LIBERTY BONDS
NEW YORK —V. 3. Government
bonrta closed:
Liberty 3%s 100 29
Plret 4* 10128
Second 4a bid 101.
First 101 28
Second 4%s 101.3
Third 4Xs 101 22
Fourth 4VI • 108.3
Treasury 4%a 105 24
NAVALJSTORES
SAVANNAH NAVAL STOHkS.
SAVANNAH. Oa.—Turpentine t rm
8041*0%; sales 516; receipt* 1.264, ahlp
m*nts 453; atock 11.611.
Rosin firm: s*7e« 640: receipts 4.-
731; shlpmeniits *57; etock *'2 902.
Quote B D F F O H I K r 6.40 to
6 47%; M 76 45 to 6.50; X 26.80; WG
*7 40 to 7.45: WW $7 SO t 0 8 09: X I
N. Y. STOCK MARKET
NEW YORK.—Another burst bul
lish enthusiasm characterised the
opening of Wednesday's market which
was featured by the enormous demand
far low priced railroad shares. Frisco
common soared four points to a new
1924 top at 51, "Katy" preferred ad
vanced 1% to 63%, also a new top.
Other stocks to break through their
previous year's highs were Missouri
Paclftc common, American Locomo
tive. Foundation Company, Pullman,
Eastman Kodak and General Asphalt.
Truding, continued at a furious
pace throughout the morning with the
main trend dlsclnctly upward. A tre
mendous volume of profit taking took
place, particularly in the rails and
some of the recently strong indus
trial specialties, but the proceeds ap
parently were reinvested In other
stocks. Davison Chemical broke 3%
points and American Can 2%, but
General Electric, Continental Can, Al
lied Chemical and IT. S. Cast Iron
Pipe developed marked buoyancy.
The number of new 1924 highs crossed
the 30 mark before noon. Sales to
talled nearly 900,000 shares at 11:30
o’closk. Call money renewed at 2 per
cent.
Trices surged forward througnout
the early trading, the only heavy spots
being American Can, Baldwin and
Chandler which fell back one to 1%
points. Buying orders were spread
over a broad list with sugars giving
one of the best demonstrations of
group strength. Frisco common broke
from Its high of 51 to 47% but South
ern Pacific. Wabash preferred A.
Amer'can Smelting, Corn Products
and United States Cast Iron Pipe all
eclipsed their previous high records,
the last named Jumping throe points
to 130. Heavy profit taking sales
were again In evidence but they were
well absorbed in most Issues. For
eign exchanges opened easier.
A preclnltate drop of six points In
Davison Chemical to 38%, the lowest
of. the year, caused hasty unloading
by traders who had good profits In
other stocks, under which a number of
shares yielded from one to three j
points under yesterday’s final figures. I
Kubsemiert buying of Sears. Roe
buck, Mack Truck. Marland Oil, Cen
tral Leather nreferred. Texas Gulf
Sulphur, Schulte. Northern Pacific
and Great Northern preferred checked
the general decline.
The closing was Irregular. Sales
approximated 2,300,009 shares.
NEW YORK STOCK LIST.
, Close
Allied Chemical and Dye 76%
American'Can 145%
American Car and Foundry. ...173
Amerlcun International 30%
Ameiican Locomotive 84%
American Smelting and Ref'g. .. 85 '/»
American Sugar 44%
American Tel and Tel 129%
American Tobacco 168%
American Woolen 67%
Amer. Zinc, Lead and Smelt. ... 9
Anaconda Copper 39%
Atchison 110%
Atlantic Coast Lille 141%
Baldwin Locomotive 122%
Baltimore and Ohio
Bethlehem Steel 4319
California Petroleum 23%
Cnnadlan Pacific 153'
Central Leather 15
Cerro de Pasco 48%
Chandler Motors 28
Chespeake and Ohio 87%
Chicago and Northwestern 67’
Chicago, Mil. and St. Paul pfd. 23%
Chicago R. I. and Pacific 39%
Chile Copper 34%
Coca Cola 77%
Colorado Fuel and Iron 38%
Conguleum 43%
Consolidated Gas 74%
Corn Products, new 38
Cosden Oil 29%
Crucible Steel 55%
Cuba Cane Sugar, pfd 59%
Davison Chemical 49
Du Pont de Nemours 129
Erie 30%
Famous-Players Lasky 86
General Asphalt 47%
General Electric 264%
General Motors 68
Great Northern, pfd 66%
Gulf States Steel 73%
Houston Oil ) 73
Illinois Central 113
International Harvester 97%
Int. Mer. Marine, pfd 39%
Int. Tel and Tel 82%
Invlm %!e Oil 16%
Kelly-hpringfield Tire 15%
Kennecott Copper 4S7j
Louisville and Nashville 103%
Mack Truck 101’4
Marland OJI 40
Maxwell Motors "A" 69
Middle States Oil 10%
Missouri, Kan and Texas 24%
Missourl Pacific, pfd 64
National Lead 157%
New Orleans, Tex and Mex 109%
New York Central 114%
N. Y. N. H and Hartford 27%
Norfolk and Western 124%
Northern Pacific 68%
Pacific Oil 55%
Pan American Petroleum "B” .. 54%
PemVvlvanla 47%
Producers and Refiners 29
Pure Oil 27%
Reading 65
Republic Iron and Steel 47%
Reynolds Tobacco “B” 77
Seaboard Air Line 21%
Sears Roebuck 130%
Sinclair Con 18%
Sloss-Sheffield Steel and Iron.. 72%
Southern Pacific 102
Southern Railway 72%
Southern Railway pfd 77%
Standard Oil of Cal 62
Standard Oil of N. .T 38%
Studebaker Corporation 88%
Texas Co 42%
Texas and Pnciflo 40%
Tobacco Products ...» 67%
Transcontinental OH 4%
Union %ielflo 946
TJnited Drug 106
U. S. Cast Iron Pipe 139
U. S. Indw. Alcohol 80%
United States Rubber 38
United States Steel in
Utah Copper 79
V. Electric 64%
Wlllyys-Overland 7%
Wool worth no
Hudson Motors 27%
STOCKS AND BONDS
(Corrected by T. D. Ca Tty A Co.)
STOCKS: Bid. Ask.
Augusta Factory 10
Augusta and Sa% R. K... 94 9ft
Bon Air Hotel Cor. com... 02 «7
Bon Air Hotel, pfd 02 C 7
Citizens A Sou. Bank 24.'. 202
Enterprise Mfg. Co 93 102
Georgia R R. Bank C 0... 195 200
Granltevllle Mfg Co 145 1(2
John P. King pfd 104
John P. King, com 110 120
National Exchange Bank.lor. no
Sibley Manufacturing Co.. 05 75
Southwestern Railway ... 90 101
Union Savings Bank 140 120
BONDS: Bid Ask.
Augusta Factory la. 1941. 99 101
Bon Air Hotel 7s, 1942 102 104
City of Augusta fbasls).. .4.SB*
Ob. R. R. & Rkg. 4a. 1917 83 IB
Oa. R. R. & Ttk. Co 6s 1951..108
Oranltevllle Co. 7s. 1H2..102 IM.GO
Bangley Mills 7s. 1941.... 97 98
Sibley Mfg. Co., Ta. 1942.. 102 104
State of Georgia (basis)..4 255
NEW YORK BONDS
NEW YORK—Sustained strength of
low and medium priced railroad bonds
In Wednesday's early trading con
trasted sharply wltn the weakness of
United States government obligations,
whlrh reacted simultaneously with a
tightening of tho market for time
funds The treasury 4V4 broke 18-22
to 105.11 and active liberty bonds
averaged losses of 7-12. (Speculative
demand for popular railroad Issues
meanwhile continued unabated.
"Knty" adjustment 6s mounted an
other point to n record high at 71 1-S
and Norfolk and Southern refunding
5s moved up 1% to a new 1924 top at
74 H
Frisco. Erie, Chicago and Terre
Haute and Chicago Great Western
liens also continued to basjj In the
light of speculative favor although
profit, taking caused fractional re
cessions In other rectlons of the rail
group Trading In Industrial bonds
was featured by a recovery In sugar
Issues. Warner Refunding 7s gaining
1 : 4 BC I ").**
THE AUGUSTA HERALD, AUGUSTA, GA.
Market Closed Steady;
Augusta Spots 24.31
By W. A. LUFBURffow.
Market Editor.
Though the market opened off Wed
nesday there was a great deal of
strength displayed at times due to
short covering and a general favorable
condition, and on the close spot
cotton at Augusta was quoted at 34.31
an unchanged condition from previous
closing quotations. Sotno reaction Is
expected, but the market looks strong
and bullish for the ttjne being at least.
Buying of break* Is advised. Liver
pool came less than due and was
somewhat disappointing, but the mar
ket held in spite of this condition.
Discussing the situation Harris,
Irby & Vose of New York says:
"It cannot bo said that the elec
tion has had much effect upon the
cotton market. A Republican success
has been anticipated and discounted.
Therefore the trade spent most of the'
week waiting for tl)e various govern
ment reports that were issued on
Saturday morning. When they be
came known prices changed but little,
for they did not shed any fresh light
on the situation.
"The condition figures of 55.9 per
cent and the crop estimate of 12.-
816,000 bales put out by the Agricul
tural Department were about ns ex-*
pected, but the ginning up to Novem
ber Ist, though large, was perhaps
slightly below the figures suggested
by the private forecasts Issued during
the week. Most of these forecasts as
serted that tills crop has been picked
and ginned with exceptional rapidity.
The fine weather that has prevailed
during the autumn gives plausibility
to this claim.
"On the other hand there are some
who assert that it 1s difficult to re
concile the census figures with a crop
of under 13.500,000 bales. They rsll
attention to the ginning after the first
of November in the only two years In
which last Saturday's figures were
approximated, and submit the follow
ing comparison In support of their
views.
Total ginned. 1911 16,563.000. Gin
ned to Nov. 1. 9.971,000. Ginned after
Nov. 1. 5.582,000.
Total ginned 1914 Gin
ned to Nov. 1. 9.527.000 Ginned after
Nov. 1. 6,079,000.
"Our own opinion Is that the gov
ernment forecast Is about right but
the above figures are cited that our
friendH may not entirely exclude from
their calculations the possibility of a
larger crop than the Agricultural De
partment's estimate suggests.
"The ginning returns up to the 13th
of November will shud more light on
the question, but meantime we may,
again point out thnt a burdensome
surplus out of this season's crop Is
hardly conceivable and that any
theory that assumes that the produc
tion is overtaking consumption must
find its vindication in next season’s
yield.
"As to the immediate future It Is
plain that the Industrial world is
rapidly recovering its pre-war stride
and that It may not be long before
the record of 1913 and 1914 is exceed
ed. In spite of the war the popula
tion of Europe Increased by 12,000.900,
or 4 per cent, between 1914 and 1921.
Onr authority for this statement is
"Der Konfectlonaer.” of October 4,
1924 It Is one of the leading textile
journals published in Germany.
"Before the war Europo consumed
11,500,000 bales of cotton of nil
growths. During the war there was
a decrease of more than 30 per cent
In the consumption, which was re
duced to 8,100,000 bales in 1922-23.
"With the rehabilitation In pro-
STEPPING AHEAD OF
THE BANK CROOK
Bankers Association Officia
Gives Rules to Foil Crimi
nals and Avoid Loss.
By JAMES E. BAUM,
Manager Protective Department
American Bankers Association.
The direct cost of all crimes In
this country has now reached Its
highest peak. Statistics reveal star
tling Increases In nearly every type
of crime during the past ten years.
The total financial loss through the
operations of criminals is estimat
ed at more than $3,600,000,000 for
this year. A few of-the Items fol
low:
Embezzlement i 120.000.066
Credit fraud* 400.000.060
Burglary, larceny and pet
ty thefts 250,000,000
Forgery, Including worth
ier* and bogus checks 100.000,000
Seaport robberies, piracies
and customs frauds... 100,090.000
Railroad theft* 26,000,000
Stock fraud* 1.700.000,900
Insurant# frauds 1,000,000,000
Arson 60,000,000
MUosllaneous 76,000,000
l am giving cold figures, not to
startle any one unless it be toward
more extreme care In handling and
safeguarding funds and valuables.
Right bero let me quote rules to
help foil criminals known as “check
passers” or *'scratcher»”; they will
help you to avoid serious loss:
1. Never writs checks with a pencil.
Us* pen and Ink, if possible a check
protector.
2. Fill In all blank apace
8. Don’t eras*. Error* should ba
corrected by writing a new check and
deatroylng time# Incorrectly written.
4. Never give a blank check to a
atranger and never canh a atranger’a
ohark without an indorsement which
you have positively vended.
6. Make checke payable to '’eaah'’ or
■’hearer’ only when you peraonally
present them at your bank. Other
wise uae the name of the person you
Intend ahull receive payment.
6. Never place your signature alone
oa an Indorsement on check* you In
tend to deposit. Writs abovs or below
your signature the word* "For deposit
only.”
7. Never sign blank checks. If you
ezpect to be absent any length of time
open a separate account subject to
check of your employee or agent.
8. Guard your cancelled vouchers ns
you would a valid check, leaving none
where they may be easily taken.
9. Keep your cheek books securely
locked up and be careful how and
where you sign or eshlhlt your sig
nature.
10. Beware of the magic of the
word "certtfled ” Ordinary certifica
tion stamps can be duplicated as eas
ily as sny other rubber stamp.
11. Watch checks which apparently
hear the makers’ "O K.” or other
form of approval. They are more
.astly forged than the full signature.
12. Safeguard your cheeks ss you
would your money, for they represent
money
13. Deposit slips provide space for
your n " m *- usuailjp upon the upper
lines. Those written Incorrectly should
bo destroyed, ns otherwise your signa
ture will be available for fraudulent
use. You can prevent loss by first
writing ths detail of amounts deposit
and than printing your account
name.
The banker*’ campaign for every
body to "pay by check” has borne,
fruit. It has been estimated that
today more than 95 per cent of the
gross It Is conservative to estimate
the potential consumption in Europo
for this season at 10,900,000 bales.
"If to this we odd the consumption
elsewhere, conservatively estimated at
13.500,000 bales.
"We have a possible consumption
for 1924-25 of 23,500,000 bales.
"Against this, and In order to bo on
the safo side let us allow for an Am
erican crop. Including linters, of 13,-
600.000 bales.
"J’lus a production outside of tlic U.
S. liberally estimated at 10,000,000
bales.
"This gives us a supply of 23,500,000
bales.
“I.caving at the end of the season
nothing.
"11l so far as the supply Is con
cerned these figures are liberal If not
excessive, but ibe consumption Is, wo
think, well within the probabilities.
Barring some world embracing rever
sal of the present economic trend they
do not seem to entourage the belief
that this season's cotton crop can be
bought at much below its present
value.
"That this view Is finding wide ac
ceptance is Indicated by the demand
for shipments out of next season's
crop that Is reflected In the buying
of contracts for dellverv In October
1925. They have been quite active at
about 100 points under July.
"This Is an unusual development
and It can only be construed ns evi
dence of widespread confidence In the
value of cotton at about the present
price level.
‘‘Tins review of the week would be
Incomplete If It did not Ineludo a
thankful reference to the fact that wo
have only two more government re
ports abend of us this year. They
will be Issued on November 21st and
December Bth respectively. The only
exception thnt we would take to the
President's admirable proclamation
and enjoining thankfulness on
Thanksgiving Day Is that It does not
Include any reference to the blessed
surcease from needless worry that the
trade will enjoy when th Inst of these
reposts Is issued."
FOREIGN EXCHANGE
NEW TORIC. Foreign exchanges
cany; quotations In cents:
(heat Britain, demand 45996; cables
459%; alxty day bills on banks 45R%.
France demand cables 028.
Italy demand 423Vi*: cables 434.
Belgium demand 4S3V*; cobgles 454
Germany demand 23.81.
Holland 39,83.
Norway, 14.t»7.
Sweden 20.80,
Denmark 17. RP.
Switzerland 39.24.
Spain 13.56.
CSreeco 1.80. #
Poland 1014.
Ozacho Slavokia 298.
Jugo Slav 144*%.
Austria .0014^4.
Rumania .65.
Argentina 37.60.
Brazil 11.80.
Tokln 38^.
Montreal 9981-32.
SUGAR MARKET
NEW YORK.—Raw sugar $.01; re
fined $7.16 to 7.25.
PEANUT QUOTATIONS
(By THE GA. COTTON OIL CO.)
Carload lots f. o. b. shipping point,
SB6. Wagon load lots, SR2 per ton.
(These quotations are subject to
nbange without notice.)
business of the U. S. la transacted
by the use of checks or other credi:
Instruments. That meant about six
and one-half billion checks will tn
written by bank depositors la this
country during 1924 and they will
total about 1500.000,000,000 In
amount, or one hundred times the
money In circulation.
Banks War on Crooks
The average bank depositor
when queried as to what his bank
does to protect his deposits, will
probably tell you that they are
kept In a great vault and that arm
ed watchmen are employed, as well
as an elaborate and efficient burg
lary and robbery alarm system.
He may not know that the 23,000
banks comprising the American
Bankers Association have constant*
ly and conveniently available an
army of highly trained specialists
who wage a continuous and relent
less warfare against the bank crimi
nal. These operatives are within
easy reach of any member bank.
Criminals know that If they attack
a member bank they are attacking
one of the most powerful and ef
fective protective organizations In
existence.
Another medium by which bank
ore prevent many financial Crimea
or loaeee la the warnings continual
ly broadcast from the American
Bankers Association and forty
eight state bankers association*.
These warning* keep the trap con
stantly aet and carry out the Asso
ciation’s plan of crime prevention
a* contrasted with detection.
Danger Ahead
Amortcan farmers should not In
crease their wheat acreage for 1924.
If they Increase the acreage by
three million acres, as Is Indicated
by the Intentions to Seed Wheat
Survey of the government, and nor
mal conditions again prevail In
other wheat producing countries,
next year’s wheat market will be
glutted and once more wheat prices
will be ruinously low. The present
high price of wheat la due to poor
crops In other countries and In cer
tain sections of the United States.
—W. M. Jardfne, Advisory Coun
cil, Agricultural Commission, Amer
ican Bankers Association.
Where Bankers Come From
The smaller localities ars to s
large extent tho recruiting ground
for the profession of banking. A
recent survey discloses tho fact
that of 482 senior hank officers In
the largest cities of the United
States, 406. or 60 per cent, were
horn In the country or In small
town*.
Of the 682 senior bankers of
large cities, 427, or approximately
62 per cent, had a high school or
college education. The conclusion
Is reasonable that tbs smaller en
vironment, coupled with an educa
tion, makee for success in the
banking field.—American Banker*
Association Journal.
STOCK MARKET
(Corrected by Augusta Stock Yards.)
CATTLE.
Common 2 6(2%c
Ordinary 3 &'3%c
Good BHM4C
Fancy 4%q50
CALVES.
Common 4 Wso
Ordinary 6 UTc.
Good 7 ®r7%e
Fancy 8 ©B%o
HOGS.
75 tp 109 pounds 9%c
109 to 125 pounds )9c
125 pounds and up 100
BAR SILVER.
NEW YORK.—Bar silver 69%; Mex
ican dollars 53%.
Daily Fashion
Hint
Prepared Especially For This
Newspaper
/piCTORIAI^Pf^
RIVIEW r
2320 H
SIMPLE AND DAINTY
Here is a model that, is so versatile
(n its possibilities that it may be worn
for a morning frock—developed in
gingham or percale—-or as an after*
noon dress if carried out in one of the
printed silks and trimmed with
novelty ribbon. The front is deeply
dashed in V-shaped outline, while the
jleeves are in kimono style. Collar
and pockets are of plain material.
Medium size requires 354 yards 36-
inch figured and yi yard 40-inch
plain material. I
Pictorial Review Drew No, 2320.
Sires, 34 to 50 inches bust. PricA 35
cents. I
Your yardstick
The story of man’s progress is written
daily on the printed page—in messages
from all corners of the globe. Only history
can measure it.
,Yet the progress that concerns you
most —the better talcums, tooth-brushes,
shoes and automobiles 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. ** *
• r r * *■*'*? "*
Let Herald advertisements keep you alert,
progressive. Let them help you save.
THE AUGUSTA HERALD
r * .
PRODUCE MARKET
Flour—Hard wheat. 9S-lb. cot
ton sacks, bbl $7.75
Flour—Plain, 98-lb. sks.. bbl.. 7.70
Flour—S.-R., sks., bbl 7.80
Flour—S.-R., 48-lb. sks.. bbls... 7.15
Flour—Rest plain, 98-lb. sks.,
barrel 6.75
Flour—S-R.. 24-lb. sks., bbl... 7.10
Flour—S.-R., 24-lb. sks., bbls.. 6.65
Due' heat. 24-pkg. case .355
Grits. 24 2s, per case 1.90
Grlte, 12 3s, per case 1.90
(lrlts, fine and medium, 96s
per sack 2.40
Meal, 965, per sack 2.50
Meat, 48s, per sack 1 22%
Meal, 245, per sack 65
lllce—Fancy, No. 864 or Kd. 113,
100-lb. sks., lb ; 06%
Rice, fancy, No. 68. lb 07%
Wesson Conking Oil, 24 pints.. 5.75
Wesson Conking Oil, 12-qt. ease 5.40
Wesson Oil, 6 1-gal cans, case. 9.8 u
Axle Grease, 10c else, t-lb„ 4
dozen 3.75
SEEDS
Amber Cane, 150-lb. sks 50
DAIRY MARKET
CHICAGO BUTTER. EGG AND
POULTRY RECEIPTS.
CHICAGO.—Butter higher: cream
ery extras 89%; extra firs ts 36 to 37%;
firsts 32% to 34%; seconds 29 to 31.
Eggs higher; receipts 2.342 cases;
firsts 43 to 60; ordinary firsts 37 to 41.
Poultry alive higher; fowls 16 to
3!'; springs 23; roosters 16; turkeys 28.
NEW YORK BUTTER, EGG AND
CHEESE RECEIPTS.
NEW YORK. Butter steady:
creamery higher than extras 41% to
42; creamery extras 41; do, firsts 34
to 40%.
Eggs firm, cheese firm; state; whole
milk flats fresh average run 20.
Live poultry steady; chickens by
express 25 to SO; broilers by freight
28 to 32; by express 32 to 40; fowls
1> yfrelght 20 to 23; by express 19 to
20. Dressed poultry steady; prices
unchanged.
Chicago Potato Market
CHlCAGO.—Potatoes trading slow
for ordinary stock, good for good
stock; market steady; Minnesota
sacked Red River Ohlos mostly around
I0B; Minnesota and Wisconsin sacked
round whites 75fi93; mostly ROftfln;
South Dakota built round whites SB;
aacked early Ohlos 193.
CALL MONEY
NR WYORK—Cottonseed oil clos
ed firm; prime summer vellow 1090 to
1*99; prime crude 900 sales.
November J 095
December 1977
January ]079
February 1082
March 1092
April 1095
M"? 1198
Sales IT.Mo! 1115
CALL MONEY
hlsh ib lI2 R » K_< ?. all money easier;
hid *• Vee.e • 2: . r i ll,n * r “* 2; rinsing
bid 2. offer.;,7 at 2%; last loan 2; cal“
loans against accepetances 1%.
lo *. n * ,lrrn : mixed collateral
69-90 days 3% to 8%; four-six niontths
3%; prime commercial paper 3%.
State Bureau of Markets
Prices below are those which wholesaler* are paying F. O. R. them
consuming centers To arrivs at prices net shippers, deduct freight te
most favorable point.
*. . . . Atl'ta Aug'ta Macon Sav'nah CoPbus
Sweet potatoes. Yel. bulk load
, i, o ®. P° un<i * $ 1-7* $1 80 $ 1.65 fI.CO ( 1.25
Irish BotatofcH, No. 1 new, per
159-lh sack 2.10 2.15 2.15 2.29 2.25
( alibage (green crated) 190 lbs... 1.75 1.76 1.75 2.00 2.0»
Ulnok eye. peas, pound 06% .96% .96 06% 06%
Brown eye peas, pound 94% -- —. .04 ]04%
Eggs, fresh candied, dozen .40 .41 39 .45 .46'
Stags, pound 22 .23 .22 .22 .21
Hens, pound 23 .23 .22 .25 ,21
Roosters, pound 13 .11% .11 .11 .13
Friers and broilers, 1 to 2 lb*. ,
pound 28 .30 .27 / .29 .83
Ducks, pound 20 .16 .is , .27 .gs
Geese, pound 13% .13 .12 .12% 17
Turkeys (hsns), pound.. 30 .80 .26 .30 .38
Turkey (toms), pound 39 .39 .28 .89 .33
Country butter (best table), lb.. .85 .33 .35 .30 .86
Country butter (cooking), pound. 20 .21 .20 .25 .25
Ga. can# syrup (Bbl.). gal. 75 .75 .70 .75 .75
Corn meal, per 69-lb. sack .... 2.60 3.65 2.60 2.66 2.60
Corn, No. 2, (white) sacked, bu... 1.38% 1.80 1.23% 1.31 1.30
Oats No. 2 (white) sacked, bu 63 .65 .63 .66 .66
Peavlns hay, ton $22.00 22.00 21.50 22.50 22.00
ELEVEN
STOCKS AND
BONDS.
WEEKLY WEATHER
AND CROP
REVIEW
WASHINGTON.—Crop and weather
conditions In southern states during
the week ending Tuesday as sum
marized Wednesday by the depart
ment of agriculture Included the fol
lowing.
Anothtr warm and mostly dry week
tn the cotton growing states gave a
continuation of favorable weather for
picking and ginning. There was little
or no rain, except In the northwestern
portion of '.he belt, and warm weather
prevailed throughout the area.
The pecan crop la reported light In
Georgia.
Conditions by states Include:
South Carolina Week very dry
with sunshine and temperature above
normal; favorable for housing fall
crops Winter cereal planting con
tinues and early planted germinating
fairly well. Considerable cotton re
mains unpicked In centrnl and north.
Fall gardens and truck need rain.
Bean crop on coast In good condi
tion. Molasses making progress. Ap
ples and pears plentiful.
Georgia—Dry. warm weather with
abundant sunshine very favorable for
harvesting, plowing and sowing win
ter cereals. Harvesting practically
completed except cutting and grind
ing sugar cane. Teanuts all thrested
out.
Seeding wheat, oats and rye pro
gressing but not yet general. Pecan
crop very light. Plowing somewhat
hindered by drought and light yaih
needed for germination.
Brooks, Hyman & Co.
62 BEAVER ST. NEW YORK.
—Member*—
New York Cotton Exchange.
Represented by
R. E. ALLEN, Jr., Augusta, Ga.
Orders solicited for the purchase
and sale of Cotton for future de
livery.
STRANGERS I* OUR
CITY—-If there ia any ques
tion as to what part of the
city you want to locate in,
or which ads. you should
answer to get in the location
you desire, we will gladly
help you. Call at Want
Ad. Headquarters, Ground
Floor, Herald Building.