Newspaper Page Text
FRIDAY, NOVEMBER 14
COTTON AND
GRAIN.
THE WEATHER
(Forecast till 8 a. m. tomorrow.)
Augusta and vicinity: Partly cloudy
weather tonight and Saturday:
Georgia: Unsettled tonight rain in
north portion; Saturday partly cloudy.
Weather Conditions.
The southwestern low has greatly
diminished in energy*, having caused
only light precipitation in the west
ern southern Btates, while a disturb
ance which developed in the Lake Re
gion caused general mostly light rain
In the central valleys and northeast
ern sections.
Temperatures are seasonable.
Weather Data.
Highest temperature yesterday 77
degrees; lowest temperature this
morning, 61 degrees.
River stage at 8 a. m.. S.O.
Moon tonight: Rises BH7 p. nt.
Relative humidity yesterday: S a.
m , 94; 12:30 p. m., 59: 8 p. m.. SO.
E. D. EMIGH.
AUGUSTA COTTON
Spots 24.56
Thursday . . 24.50
Last Year. . 33.25
prices by grade
Close
Middling fair 25.66
Strict good middling 25.31
Good middling 25.06
Strict middling 21.94
Middling 24.56
Strict low middling 2:1.50
Low middling 22,-6
Strict good middflng 21.56
Good ordinary 20.56
RECEIPTS AND SALES
lie- Spin- Ship- year
ceipts Sales ners meats r’pt*
Saturday 1487 803 135 620 1639
Monday 1949 273 100 517 2045
Tuesday 1792 620 371 303 2630
Wednesd’y 1474 659 100 101 l
Thursday 1265 456 1152 861
Friday 1292 1075 636 634 1468
Receipts from August Ist, 1924
to November 14tli, 1924 123,055
Receipts from August Ist. 1923
to November 16th. 1923 119,575
Stock in Augusta November
14th,' 1924 51,525
Stock In Augusta November
16th, 1923 54.549
O O
i CLOSING QUOTATIONS CN !
t NEW ORLEANS AMD NEW |
i YORK COTTON EXCHANGES I
i a i
The following ouotations from New
York and New Orleans were posted
on the Augusta Cotton Exchange
Friday:
NEW YORK.
Prev
Open High Low Close close
Jan... 79.95 25.14 24.69 24.95 24.68
Mar... 25.20 25 45 25.04 25.01 25.92
Mhv... .25.60 25.77 25.32 25.35 25.30
Julv.. . 25.25 25 41 25 06 25.08 25.00
Dec... 24.70 24.95 24 57 24.56 24.46
NEW ORLEANS.
Prev.
Open High Low Close close
•Tan... 24.80 24.9 S 24.57 24.62 24.58
Mar... 25.08 25.21 2! 82 24.86 24.83
Mhv... 25.36 25 40 25.05 251. n 25.05
July 23.20 24.93 21.93 24.90
Lee... 24.73 24 99 24.56 24.62 24.55
NEW YORK COTTON
NEW YORK —An opening advance
of 18 to 24 points met a great deal
of realizing and considerable hedge
seliing in the cotton market Friday.
Tt was absorbed by covering or fresh
buS'lng on a decline from 24.98 to 21.85
for January, however and the market
soon turned firmer on continued buy
ing. the price of that month advanc
ing to 25.02 by the end of the, first
hour, or 34 points net h’gher and into
high ground for the movement.
The census renort showing home con
sumption of 532.620 bales for October
compared with 435.21 G fop. September
war pl facto t on the advance which
also was promoted by firm late ca
bles from Liverpool and reports that
sales of print cloths in the Fall River
market had aggregated 300,000 pieces
for the week.
Trading later expanded with buying
apparently of the broader scale en
countered during the recent advance.
It was sufficient to absorb heavy real
izing but the demand tapered off
somewhat as prices reached 25.14 for
January and 25.45 for March or about
45 to 56 points above Thursday’s clos
ing. The realizing then had more ef
fect en prices with the midday mar
ket showing reactions of some 18 to
20 noints from the best.
The market was quieter in the early
afternoon but after easing off to
LIVERPOOL MARKET '
LIVERPOOL.—Cotton spot, good
demand but business moderate; prices
steady.
Strictly good middling 1t.62
Good middling *... 14.27
Strlctlv middling .....* 14.07
Middling 13.87
Strictly low middling 13.62
Low middling . 13.12
Strictly good ordinary 12 72
Good ordinary 12.12
Soles 5.000 bales, including 4,-
100 American. Receipts 7,000 bales,
including 6.200 American.
Futun 3 closed steady:
November 13.68
December 13.67
March 13.76
July 13.67
October 12.10
WASHINGTON TUBBS II
\ £c/caRRAMBa! EVER’ TiMeTA A ( * FLIVVER.!—THEN THERE MOV O
TRN TO GET FRiENDLV «LN' \ ( BE. 'NVUTE MEN HERE. A FRIEN’ J
l i HUNT 7E TREASURE —LOOK ) I ®?*W NEED, TAMAUO, EES WORTH /
BIvIIt IGET JJ.TVJO IN TE BUSH VOU MUS' (
iy -
/look WAT ) AMERICAN CIGARETTE*! //'goODV I A VOO CAN NIB MS
R I FINtXV I bet THM NEVJ-COMER DROPPEO / CAN . p\. T |f GIMME A PAIN ! HE'S
/—M—l 'EM. GEE. I'LL HAVE TO FINO HIM t COME OF / GONNA BE MV GUEST-
V&n' ***■ R>m pop. supper soon!) \ Seep, too v ' not **< menu. \ne;ll
jflfy 2< n Tv —v-7< : W\& GOOO FRIENDS. SEtf
-6,4 44P
=Financial and Commercial News=
about 24.52 for January or within 14
points of Thursday's closing quotation
held fairly steady: Prices at 2:03
o'clock were IS to 20 points net higher.
NEW ORLEANS MARKET
NEW ORLEANS.—The cotton mar
ket had quite a firm opening owing
to Liverpool cables proving much
better than due. First, trades showed
gains qf 20 to 25 points and right
j after the call prices made further
gains on the figures of domestic con
' sumption for October by the census
bureau, the total being 532.629 bales
of lint cotton against 436.216 in Sep
tember and 543.260 in October last
year. This was regarded as very
bullish. December traded up to 24.84.
January to 24.53 and March to 25.15
or 23 to 32 points above the close of
Thursday. Fall River estimated sales
for the week at 300,000 pieces of cloth
against 70,000 last week.
The market firmed up around the
middle of the morning on private re
ports of rains and much colder
weather In Northern Texas. Decem
ber advanced to 24 99. January 24.98,
| and March 23.61 or 3S to 44 points
i above the previous close. Towards
; noon the market eased off again on
realizing and more hedge selling
prices losing 20 to 24 points of the
advance. Offerings were well absorb
ed and the undertone was steady. Pre
liminary figures point to a falling off
in the movement into sight and to
mill takings between 406,000 and 461,-
000 bales against 306.000 last year.
The market turned reactionary dur-
I ing the afternoon in sympathy with
I the dip In grains and on the theory
I some reaction was due after the re
| cent advance. Some strip orders were
j uncovered on the scale down which
added to the weakness. Weekly sta
tistics with the exception of mill tak
ings which were reported officially at
408.000 bales, were considered bearish
and helped the downward trend of
values. Prices declined praetleally
to Thursday's closing levels with Jan
uary at 24.5 S and t)\»n showed a tend
ency to rally slightly.
NEW ORLEANS SPOTS.
NEW ORLEANS, La.—Spot cotton,
firm, 10 points up. Sales on the spot,
1.060; to arrive, 2,516. Low middling.
22.65; middling. 21.65: good middling.
25.15. Receipts, 13,460; stock, 331,-
767.
CHICAGO GRAIN MARKET
CHICAGO. 111.—Increasingly unfa
vorable crop reports from Argentina
led to a decided rally In wheat prices
Friddy after a declining tendency at
the outset. Opening quotations which
ranged front 14c decline to #c gain,
were followed by a moderate general
sag and then by a sharp upturn to
well above Thursday's finish.
After opening at # e lower to #c
advance, the corn market underwent
a setback all around but later scored
material gains.
Oats started unchanged to He off,
eased off a little more and then made
a general advance.
Weakness of hog values pulled
! down provisions.
Wheat closed l%c to 3c net lower.
Corn closed weak, to l%c net
lower.
WHEAT—
Open High Low Close
Dec .... 154% 156 151% 151%
May .... 162 162% 158% 158%
July .... 141 Vi 142% 138% 13864
CORN—
Dee .... 114% 11514 11214 112%
May .... 118% 120% 117% 117%
July .... 119% 121 117% 117%
OATS—
Dec 53% 54% 52% 62%
May 58% 59% 57% 67%
July 57 57% 55% 55%
RYE—
Dec 139% 140% ,136 130%
May .... 140% 142 *137% 13S
July .... 129% 129% 125V4. 12514
LARn—
Nov ... 1445 1455 1437 1437
Jan .... 1405 1415 1402 1402
RIBS—
Nov ... 1260
Jan ... 1247
BELLIES—
Nov ... 1387
Jan ... -—. 1250
CHICAGO CASH GRAIN
CHICAGO, 111 —Wheat No. 2 hard,
*1.5501.56%; No. 3 hard, *1.53%5»-
1-54%.
Corn No. 2 mixed, *1.15*401.16; No.
2 yellow, 51.10%#!.17.
Oats No. 2 white, 64@55%c; No. 3
whites 51%#54%c.
Rye No, 2. 51.3701.38.
Harley, 75# 92c.
Timothy seed 55.006.75. Clover seed
523.50031.00.
Lard *14.40. Ribs, *13.50. Bellies,
514.30.
FOREIGN EXCHANGE
NEW YORK—Foreign exchanges,
steady. Quotations in cents:
Great Britain, demand 4.63^4,: ca
bles. 4.63%; 60-day bills on banks,
* 4.60%.
I France, demand 5.20; cables 5.29%.
Italy, demand 4 32%; cables 4.33%.
Belgium, demand 4.84 Vi; cables, 4.85.
Germany, demand 23.81.
Holland, demand 40.07.
Norway, demand 14.7f>.
Sweden, demand 26.80.
Denmark, demand 17.61.
Switzerland, demand 1D.26
Spain, demand 13.60.
Greece, demand 1.80.
Poland, demand 19Vi*
Ozecho-Slovakla, demand 2.95%.
Jugo-Slavia. demand 1.45.
Austria, demand .0014*4.
Rumania, demand .55
Argentina, demand 37.05.
Brazil, demand 11 70.
Tokio, demand 38*4.
Montreal, demand.* 100.
Market Closed Steady;
Augusta Spots 24.56
(By W. A. LUFBURROW)
(Market Editor)
The bulls scored again Friday and
oil the close of the market spot cot
ton at Augusta was quoted at 24.60,
an advance of six points over previ
ous dosing quotations. Large sales
to Fall River were reported, and add
ed to this was the bullish consump
tion report of American milles. Buy
ing on dips is being universally ad
vise!. The majority of New York
and New Orleans cotton men are of
the opinion, according to their tele
grams to this market, that the mar
ket is a good buy on dips and that
the outlook Is very bullish. One buy
ing must place his own valuation on
this "dope.” Twenty-five cents is
not too high for cotton, neither would
twenty-eight cents be. but. what is to
take place between present quotations
and four or five hundred points high
er? It stands to reason thnt thero
will be some reaction. If spot houses
and trade continue aggressive buy
ing and Liverpool holds up its end.
then the advance may be steady as
it has been of recent.
Cotton consumed during the month
of October, 1924, was 532,629 bales and
for September of this year 435,212
bales. In October, 1923 consumption
was 641,825 bales.
Held In consuming warehouses in
October, 1924, were 703,656 bales, and
for September, 1924, were 514,537
bales. For October of 1923 there were
1,102,583 bales.
These figures are very bullish In
j view of Hie recent optimistic view of
the cotton manufacturing business ns
!"■— en out by northeastern manufac
turers, and the outlook of the Euro
pean situation. It is very evident,
that there were thousands of men
with money who held back until after
election, and now that the election is
over, it seems to have gone the way
they wanted it to go. Millions of dol
lars several months ago lyl/g idle are
now busy and things are beginning to
hum. It will only be a few months
before spring will be on us and then
business \vill more tha nlikely begin
to Now up, though, it is very likely
that business next summer will bo
much better than It was last summer.
Discussing the cotton market,
Springs & Company, of New York,
says:
"In sympathy mainly with the bull
ish movement in securities cotton
prices rallied at the close of last
week, the advance carrying over the
week-end and ignoring temporarily
the bearish character of the govern
ment's crop report which indicated an
outturn of 12,816,000 bales on the
hasis of the November 1 condition.
This compared with the October 18
estimate of 12.675,000 bales and with
12,499,000 bales on October 1.
"It Is true there has been some
moderate improvement in textiles, but
that is all Tnat can bo said of it. The
change is largely a sentimental one
as yet, though It may be translated
into actual business later on, as a
consequpenee of the prospect for bet
ter business conditions all round. But
with cotton still passing through the
gins and the weight of the market
ing still pressing there is nothing to
stimulate trade buying beyond the ex
tent of Immediate requirements. The
conviction Is strong In the cotton
trade that 22 to 23 cents Is a good
price to pay for cotton a this time
and when prices carry beyond that
zone Interest slackens.
"It Is appreciated, however, that
cotton eventually may command high
er prices, hut it is not felt that there
Is any present justification for the
staple hovering In the neighborhood
of 25 cents. The dominant view Is
that the 25-cent level, assuming a
steady Improvement in domestic bus
iness and a continuation of foreign de
mand, is unlikely to be crossed defi
nitely much before the first of the
new year. There is no general hoid
,ng movement among growers and
each slight advance in the basis In
creases the selling pressure and up
sets bullish calculations.
"The government’s figure of 12,816,-
009 bales may be taken as a close ap
proximation of the actual crop. The
weather has been remarkably favor
able to the growth and gathering of
the crop, but there Is not much left
in the fields andd ue allowance has
been made for what little top crop
may yet develop. The trade is now
preparing to regard the crop as rough
ly 12,800,000 bales, wits possibly 800,-
000 bales of linters. This added to
the carryover of 2.300,000, provides the
world with almost 16,000,000 l*los of
American cotton to carry through to
the end of this cotton year.
"Just what the world's demand will
he is largely a matter of guesswork,
nut there is little reason to expect a
rail for more than 13,00,000 bales. This
would be a sizcnlde increase over the
consumption of the year which endfd
on July 31st last. Southern consump
tion In recent weeks has been run
ning slightly above the corresponding
weeks of last year, but the total since
August 1 is still |jielow the same pe
riod of 19723. Northern spinners’ tak
ings are not up to last year by 25 per
cent. On the other hand exports since
August 1 are steadily Increasing the
gain over the same period of last
year, being no wsomc 375,000 bales
ahead, slightly offsetting the decrease
in southern consumption snd In
BY CRANE
THE AUGUSTA HERALD. AUGUSTA. GA.
northern spinners' takings. But it is
difficult to look very far into the fu
ture however quick at figures one
may be, for foreign political and trade
conditions are so interwoven and our
own domestic uutlook is so vaguely
defined as yet that not enough terms
of the equation can be set down.
"It can only be generally assumed
that the improved outlook for indus
try, the prospect of good employment i
conditions, the potential buying pow- I
er of the farming portion of our
population, and above all the rapid
growth of optimistic sentiment, mean ;
a broadening of demand for cotton ]
goods tn this country, while the po- ;
litlcal overturn in Great Britain and ;
the working out of the Dawes plan ,
point to a similar expansion in the
British and continental trades, if j
these factors could be transmuted into i
figures representing cotton bales, to
gether with some Idea of the future
monthly rate of consumption, trade
buying would go beyond the zone of
Immediate requirements, but until de
penndahle estimates can be made only
necessltloa will be taken care of and
buyers will show no willingness to
follow the market up. Even though
they may believe the long trend of
prices is towards higher levels they
feel that tbs uncertainty surrounding
the immediate trend ninkes it advis
able to follow the policy of buying
moderately on a scale-down.
"Under these circumstances we are
not depressed by the attitude of mills
towards cotton at this time, but on
the contrary believe that onr friends
will be able to make money by tak
ing a long-pull position l now in the
winter and May months, buying on a
scale-down with ample marginal pro
tection. ignoring the day-to-dav fluct
uations except ns they may offer the
opportunity of averag'ng down. A
clearer view of the outlook should be
possible by the turn of the year and
should occasional sharp advances In
the meantime offer the opportunity of
taking profits we would counsel the
replacing of the position on an endu
ing recession."
STOCKS AND BONDS
(Corrected by T. D. Carcv & Co.l
STOCKS; Bid. Ask.
Augusta Factory 10 20
Augusta and Sav. R. R 94 98
Bon Air Hotel Cor. com... 62 67
Bon Air Hotel, pfd 62 67
Citizens & Sou. Bank 24r> 252
Enterprise Mfg. Co 85 95
Georgia It. it. Bank C0...197 202
C.ranitevllle Mfg. Co 145 155
John P. King pfd 104
John P. King, com 110 120
National Exchange Bank.lo6 110
Sibley Manufacturing Co.. 65 75
Southwestern Railway ... 99 101
Union Savings Bank 140 150
BONDS: Bid Ask.
Augusta Factory Ss. 1941. 99 101
Bon Air Hotel 7s, 1042 102 104
City of Augusta (basis).. .4.3514
Oa. R. It. & Bkg. 4s, 1917 S 3 85
Ga R R * Bk. Co Go 1951.10 S —-
Granttcvllle Co. 7s, 1942..102 103.50
Langlev Mills 7s. 1943.... 97 98
Sihley Mfg. Co., 7s, 1942..102 104
State of Georgia (basis). .4.257*
LIVESTOCK MARKET
CHICAGO CATTLE. HOG AMD
SHEEP RECEIPTS.
CHICAGO, 111.—Hogs: Receipts, 62,-
000, fairly active, weighty offerings
10c to 15c lower than Thursday's best
prices: others 15c to 260 off under
weight show most decPnc: largo sup
ply top *9.70; bulk better-' J4OO 34O
pound butchers, *9.4009.05: majority
1700210-pound averages, *8.6509.25;
hulk, 140016 u-pound weight, *7.75®-
8.35; packing sows. *8.6608.90; strong
weight slaughter pigs, *7,25(07.50.
1 Cattle: Receipts 6.000. killing qual
ity generally plain: bulk steers in
little better than feeder flesh; bullocks
averaging around 1.600 pounds, *9.50:
bulk of quality and condition to sell
at *8.50 downward: she stork In lib
eral supply; lower grades predominat
ing; steady; canners numerous: most
ly $2.75 0 2.90; bulk bologna bulls, *3.50
04.00. *
Sheep: Receipts 12.000. uneven,
strong to 25c higher; bulk. *14.00®-
14.26.
ATLANTA CATTLE AND HOG
RECEIPTS
ATLANTA, Ga.—Cattle: Receipts.
200; steady; beef steers. *4.0005 50;
stockers, *3.5004 50; beefs 8.75 0 4.50;
canners $2.00®2.50.
Hogs: Receipts 800, little done.
Strong weight slaughter pigs. 19.000-
9.50; light pifpk $8.250 8.50; 160 pounds
and up, very scare, quoted from *lo®-
*10.60.
PEANUT QUOTATIONS
(By THE GA. COTTON OIL CO.)
Carload lots f. o. b. shipping point,
*BS. Wagon load lots, *B2 per ton.
(These quotations are aubject to
change without notice.)
DAIRY MARKET
NEW YORK BUTTER, EGG AND
CHEESE RECEIPTS.
NEW YORK. Butter. stcadv;
creamery higher than extras, 42%-
043 c. Creamery extras, 41042 c; do
firsts, 84041 c.
Eggs, steady; Pacific coaat whites
extras, 75 0 80c; do firsts to extra
firsts. 62® 74c.
Cheese, firm.
CHICAGO.—Butter, higher; cream
ery extras, 39i/,c; standards, 37%c:
extra firsts, 87®38e; firsts, 33%®35c;
si#*onds, 30®32c.
Eggs, unchanged. Receipts, 1,931
cases.
SAVANNAH NAVAL STOREB.
SAVANNAH. Turpentine, steady.
80%c. Sales, 100; receipts, 352; ship
ments, 379; stocks, 11,457.
Rosin, firm; sales, 1,226; receipts,
1,269; shipments, 4,045; stock, 80,267.
Quote: B D E F G M I K *6.35; M
*6.3706.40; N *6.05; window glass,
*7 32%®7.35: water white, *7 70®-
7.66; X. *7.90.
“* .«*•' - ■'—fc %r ,.
*%*■ ' ' :
The wonderful riding device—The Caterpillar—now with Johnny J. Jones Exhibition
he re.
N. Y. STOCK MARKET
NEW YORK.—Stock prices resumed I
their upward movement at the open
ing: of Friday’s market with buying i
orcievs spread over a broad list but
moot effective in the industrial group.
11. R. Malllnson, Savage Arina, Brown
iShoc and Goodyear Rubber preferred
mounted to new 1024 high levels,
while United States fast iron I‘lpe,
General Electric, DuPont, Seam-Roe
buck and Mack Truck climbed one to
two points.
The upward movement gained mo
mentum as trading progressed. United
States Cast Iron Pipe advanced four
points and Associated Drygoods,
Frisco common. Lackawanna and Am
erican Sugar Refinery each advanced
two points. Gains of a point or more
were registered by over a score of is
sues in the first half hour the list
including International Paper, Colo
rado Fuel, Maxwell Motors A, Worth
ington Pump, Western Union, Lima
Locomotive and Postum Cereal. There
were only a few heavy spots. Davison
Chemical dropped 2% points and Un
ion Pacific 1.
Foreign exchanges opened firm, de- j
mand sterling advancing to a new top
for the year at 4.63%.
With the pubi c demand for stocks
apparently unsatisfied, prices con
tinued to move upward during the
morning with buying stimulated by
the continued ease in money rates,
call loans again renewing at 2 per :
cent. Sporadic short selling failed to
stem the tide of rising prices which I
carried more than a score of issues to i
new peak prices for the year before i
noon. Trading was on a smaller |
sonic, but early indications pointed to :
another two million share day. The j
advance in rails was an orderly one j
with a good demand noted for such 1
high-grade carriers as Atchison, New j
York Central, Southern Pacific arid
Lackawanna. Several of the popular
Industrials such as American Can,
Baldwin, DuPont, U. S. Industrial Al
cohol and General Electric displayed
marked strength. Jewel Tea preferr
ed. which has not been traded In for
sometime, opened TO 1 * points lower at
02 and then rallied to 08.
Trading slowed up considerably
after midday and although thero was
profit-taking in various leaders, Am
erican Can losing all of its two-point
gain, a number of remarkable ad
vances occurred In numerous shares.
Fislier Body jumped 11 points, Sav
age* Arms. 5% and Mack Truck, U. S.
Alcohol, Missouri. Kansas and Texas
Laclede Gao. United Fruit
and International Harvester, three to
four points.
The closing was irregular.
Total sales approximated 1,800,000
shares.
NEW YORK STOCK LIST.
' Close
Allied Chemical and Dye 75%
American Can 151
American Car and Foundry 173
American International 32%
American Locomotive ...i 83%
American Smelting and Refg... 84*4
American Sugar 48
American Tel and Tel 120%
Amer'oan Tobacdb 104%
American Woolen Cl
Am Zinc, Lead and Smelt 8%
Anaconda Copper 30
Atchison 111%
Atlantic Coast Line ' 144
Baldwin Locomotive 124*4
Baltimore and Ohio . 68%
Bethlehem Steel 44%
i California Petroleu m 23% t
Canadian Pacific 151%
Central Leather 17
Cerro de Pasco 48%
<’handler Motors 3')%
Chesapeake and Ohio 86
Chicago and Northwestern 66
Chi, Mil and St Paul pfd 23%
Chicago, It T and Pac 39%
Chile Copper 33%
Coca-Cola 79
Colorado Fuel and Iron 41
Congoleum 45%
Consolidate Gas 74%
Corn Products, new 38%
Oosden Oil 29
Crucible Steel 62U
Cuba Cane Sugar pfd 62%
Davison Chemical w 41 %
DuPont de Nemours 133
Erie 30%
Famous Players-Lasky BG%
General Asphalt 48%
General Electric 266
General Motors 59%
Great Northern pfd 6G%
Gulf States Steel 75
Houston Oil 72%
Illinois Central 133%
International Harvester 101%
Int Mer Marine pfd 42%
Int Tel and Tel 84%
Invincible Oil 15%
Kclly-Hpringfield Tire 16%
Kennecott Cooper 49%
Louisville and Nashville ........103%
Mack Truck 100%
Marland Oil 39%
Maxwell Motors A 71
Middle States Oil J%
Missouri, Kan and Tex 24%
Missouri Pacific pfd 64%
National Lead 160%
New Orleans, Tex and Mex 110%
New York Central 117%
N Y, N H and Hartford 28%
Norfolk and Western 124%
Northern Pacific 67%
Pacific Oil .... 54%
1 « i-Ani Petroleum B 53%
P* nnsylvanla 46%
Producers and Refiners 2H
Pure Oil 27
Rending €,»
Republic Iron and Hteel 48%
Reynolds Tobacco B 76%
Seaboard Air Line 20%
Hears-Itoebuck 'i 133
Sinclair flan 18
Sloss-ShrffieJd Steel and 1r0n... 73%
Southern Pacific 101%
Southern Railway 72%
Southern Railway pfd 78%
Standard Oil of Cal 61%
Standard Oil of N .1 28
Studchaker Corporation ......... 39%
T xas Company 42%
* was and Pacific 40%
Tobacco Products 67
Transcontinental Oil 4%
Union Pacific 145%
United Drug 1 108
U S Cast Iron Pipe 142
U S Ind Alcohol 85%
United States Steel 114 V.
Utah Copper 79%
Westlnghouse Electric 64%
Wlllys-Overlond 8%
Woolworth 11l
Hudson Motors 27%
St. Louis Cash Grain
ST. LOUlS.—Wheat No. 2 ml, *1.66-
01.67; No. 3 red. *15901.62.
(,'orn No. 2. whit*, old, *1 13; No. 2
yellow, new, $1.13; old. SIJ6.
Oats No. 2, white, 53% Ch»s%c; No.
2 white, 68% r.
ATLANTA FEDERAL BANK :
&BBOUHCES.
Colli with P. R. Agont $130,1 Go.s?o .00
Uulti redemption fund with V. 8.
Treasury 1.T50.349.70
Cold held exclusively against F
notes $131,913.718.7Q
Co d settlement fund with F. It.
Board 20.0C9.531.2l
Cold and gold certificates hold by
Built 7,329.880.C0
Total gold rcsenrei .$180,414,430.00
Kojerrw other than gold.,* 7.619.349.00
Total reserve* $168.068,778.8»
Non-ie.v>rvo cash .. 3 863,158.55
Hills discounted:
Secured by I’nlted State* govern
ment obligation* 1.076.0 ts 18
Other bill* discounted 18,272,516.08
Total hit!* d! counted $ 19,349,16 *.56
Bill* bought In open market 7.819.999,48
V. 8. Gov't securities:
Honda 1.550.500.00
Treasury notea 1.487.060.00
Certificates of indebtedness T 91.000.00
Total U. 8. Gov't seourltift $ 3.749.400.00
Total earning asset* SIO 04(M63.04
Incollccted Herat 28.836.46211
Hank premise* 2.871.708.77
AU other resource* 5.011.121.08
Total rcaourcta $286,100,700.55
UADIUTHM
F H notaa in actual circulation.sl37,4o4.Bß3.oo
Deposit*;
' Member bank—
Ke«*rve account . .$63.564.083.61
I Government 8,752,34153
I Other deposit* 121.061.Cfl
I Total dfMalt* $16,441,892.20
j Deferred availability 1tem5........ 17.348.211.74
■ t apaital pa'.d In 4.536,300.000
| Hnrp'ui 8.950.3 >9.14
j AH o.hor liabilities 1.375,492.47
j Ratio of total reaervea to deposit and F. H.
I note It a' Hit Us combined, 82.4 per cent.
' Contingent liability on bills purchased for for
eign correspondent*. $1,110,358.77.
Chicago Potato Market
CHICAGO. lll.—Potatoes, trading
moderate, market firm; Minnesota
sacked round whites, #oc@*l.os; few
fancy shade hlirher: Wisconsin sack
ed round whites. 85c0*1.05; Minne
sota sacked Red River Ohlos, *1.150-
1.21).
SUGAR MARKET
NEW YORK.—Raw sugar. 5.73 duty
paid. Refilled, 7.15(8*7.26, fine granu
lated.
DEATHS
L. A. GANUS
Announcement Is made of the
passing away of L. A. Ganns, at
j his homo at Matthews, Ga., shortly
nften nine o'clock Thursday night,
following an illness of several
yen rs.
Mr. Ganus was sixty-seven years
of age and had been n resident of
Jefferson county practically nil of
his life, and In 1901 located In the
town of Matthews, where ho suc
cessfully conducted a mercantile
business, along with his extensive
farming operations, and was always
recognised as one of the most
prominent citizens of the com
munity.
Recognition of the high Integrity
of Mr. Ganus extended far beyond
his home section, and everyone who
had ever had any business rela
tions of any nature with hlin wel
comed an opportunity to refer to
his high sense of honor. He was
particularly well-known and high
ly regarded In Augustu.
Mr. Ganus Is survived by his
wife, Mrs. Lucy Wimberly Ganus,
one son, 1., A. Ganus, Jr., a broth
er, R. R. Ganus, a slßter, Mrs, Car
rie Gay, and a grandson, all of Jef
ferson county, to whom the sym
pathy of the entire community Is
extended In their deep sorrow.
Funeral services will be held on
Saturday morning at eleven o'clock,
from Mount Moriuh Methodist
Methodist church, Matthews, Ga.,
of which ig; was a devoted member.
Members of the Masonic Lodge of
Stapleton, td which Mr. Ganus wns
a member, will attend In a body.
JAMES E. WIGGINS
James Evans Wiggins, age 70
years, died ut his residence 1418
Kllcox street. 7 o'clock Thursday
evening after an extended Illness.
Born In Richmond county, April
9th, 1854, Mr. Wiggins was the son
of the late Robert A. Wiggins, who
served as sheriff of this county
prior to the Civil war. Leaving his
farm beenuso of 111 health, Mr.
Wiggins came to Augusta about
twenty years ago. He accepted a
position with tho Citizens & Sou
thern Rank several years ago and
served this Institution up to the
time of his denth. lie lmd a grent
many friends In the business world.
Funeral nervlees will be conduct
ed Friday afternoon at 4 o’clock at
Ht. John's Methodist Church. Rev.
W. L. Pierce, pastor, will officiate.
Interment, will take place In the
family section of the City Ceme
tery.
Surviving the deceased are hil
wife, Mrs. Florence Deus Wiggins;
four sons, James Eugene, and Wil
liam J, of this city and George L.,
J of Tulsa, Okie., and Daniel R., of
. the United States Navy: three
daughters, Mrs. 8. I. Rusbla, and
Mrn. J. P. Cauthem, both of Au
gusta, and Mrs. Curtis Ivey, of At
lanta; step-mother, Mrs. It. A.
Wiggins, of Atlanta; two sisters,
Mrs. Sarah J. Baxley, of Augusta
and Mrs. I). E. MoGraw, of At
lanta; and nine grandchildren.
The honorary pall bearers are;
George S. Murphey, W. H. T. Wal
ker, Lindsey 8. Arrington, Dr. Geo.
W. Shackleford, J. M. Hego, and
Chas. 8. Rohler. Active pall bear
ers are: James F. Nunn. John W.
Rheney, Hoyt Mason, Wilson Gor ■>
don, H. Hal Hill and Joseph W.
' Beasley, Jr.
Africa to Lead In
Copper Production
BABSON PARK. Mass—Roger
W. Dabson’s statement regarding
the present trend and future de
velopment of the copper industry,
issued, today, is of unusual In
terest not only to Investors in cop
per stoclfs, but to all Investors,
since the factors he discusses may
soon effect other Industries.
It seems that John Hayes Ham
mond, believed by many to be the
world's grentest mining engineer,
has a beautiful summer home nt
Gloucester. It also happens that
Roger W. Rabson, a native of that
port. Is In the habit of spending his
holidays there. Apparently the en
gineer and the statistician some
times get together for a neighborly
chat.
"He told me about Katanga" says
Mr. Bnbson, referring to a recent
talk with the man who was partner
of Cecil Rhodes In tho development
of the South African mines. "We
nlways get Into this samo sort of
situation. I cannot mention any
thing in the way of American re
sources but that Mr. Hammond Is
ready to match them or exceed
them with statistics on Africa. We
were talking about copper when he
told me of the developments now
underway In Congo. The operation
is being curried by Relglans and
tho Union Mintere Katanga. This
company In 1912 was producing
about 5,000,000 pounds of copper a
yenr. This production has steadily
Increased until, based on last
month's output. It Is producing at
the rate of 225,000,000 pounds a
year. Tills brings Its volume to
practically the*samo as that of the
Chill Copper Company, now gen
erally known ns the world's largest
producer. It Is underst*iodg*iowcver,
that these Katanga mines are now
building for an output of over 2,-
000,000 pounds of copper a day or
over 700.000,000 pounds annually.
At tlila development la completed
the center of the world's copper
production will he shifted from the
western,to the eastern hemisphere.
1,600 MILEB BY RAIL
TO NEAREST PORT
"These African mines are located
in the southeastern corner of the
privince of Katanga, which In turn
Is located InThe southeastern part
of Belgian Kongo. The headquar
ters of the company, nt a little town
known as Ellzabothvllle, nre 1,600
miles by rail from the nearest port,
Delia. The two are connected by a
narrow gauge railroad. The com
pany has a concession on over 8.000
aqunre miles and In addition to pro
ducing copper Is also mining tin
and radium. In tho copper opera
tion the ore Is worked with a steam
shovel. It contains from 7 to 9
per cent, of copper, and Is refined
near the ml'Sks. Blacli copper Is
shipped for treatment, either to the
company's finishing refineries In
Belgium, or to the Nichols Copper
Company. Laurel Hill, New York.
The rail haul from mine to port is
somewhat of n. handicap, but since
It Is mostly down grade this cost
Is not prohibitive. Labor, on the
other hand, la unbelievably cheap
and this African copper Is now be
ing delivered In Europe at a cost
of 8 cents or less per pound. The
tremendous production at so tow a
cost must have Its effect and It
will not be surprising If the price
of copper does not rise far beyond
its present figure. The point In the
copper slutatlon Is that low cost
companies can make a very good
profit In our present market. Even
at 12 cents. It will be seen that the
low cost producers like Chill. Kat
nnga and Kennecott sre making a
gross profit of 60 per cent. This, of
course, Is figured before deprecia
tion Is charged, and depreciation Is
a very Important Item In connec
tion with mining operarfons. It Is
certain, however, that this great de>
development In Africa Is an exeeed-
Ingly bearish factor as It must af
fect the high cost copper producers
the world over. .. ,
“Many people are suggesting that
a tnrlff be put on copper ore from
other countries but T seriously doubt
whether the America* people would
stand for such a tariff. They are
willing to put a tariff on foreign
manufactured goods and they ora
also willing to consider a, tariff on
farm products, but the 'protection
of natural resources by a tariff Is
renly not a protection at nil. We
are better off to hold our own cop
per and buy copper from other
' State Bureau of Markets
Prlrea below ere those which wholesalers ere paying F. O. B. these
consuming centers. To arrive at prlcea net ahlppers, deduct freight to
moat favorable point.
Atl’ta Aug'ta Macon Sav'nah Col'bue
Sweet potatoes. Tel. bulk load- ,
trig, 100 pounds t 175 $ 1.80 t 1.65 Jt.CT J 1 25
Irish Potatoes, No. 1 new, per
150-lh. sack 2.10 2.15 2.15 2.20 2.58
Cabbage (green crated) 100 lba... 1.75 1.75 1.75 2.00 2.00
Black eyo peas, pound 0614 .0614 .o* .OS'A ,o|u
Brown eye peas, pound 04 V 4 04 .04'A
ICgge, frenh candied, dozen 40 .41 20 .45 .46
Stags, pound 22 .22 .22 .22 .21
Hens, pound .28 .22 .22 .25 .21
Boosters, pound 12 .1114 .11 .11 .13
Friers and brollera, 1 to 2 lba.
pound 2* .80 .27 .20 .83
Ducks, pound 20 .15 .15 .27 .25
(lease, pound 12V4 .13 .12 .12ft 17
Turkeys (hens),, pound.... 30 .30 .28 .30 .23
Turkey (tomsi, pound 30 .30 .28 .30 .33
Country butter (best table), lb.. .35 .33 .35 .30 .3*
Country butter (cooklnr), pound. .20 .21 .20 .25 .25
On. cane eyrup (Rbl.), gal 75 .75 .70 .75 .75
Com meal, per 69-lb. sack .... 2.80 265 260 2.65 2.00
Corn, No; 2. (white) sacl ed, bu... 1.2814 130 1.2314 1.31 1.30
Date No. 2 (white) snekrd. bu 03 65 .6* .66 .65
Peavlne hay, ton 132.00 23 00 21 50 23 50 22 00
Good Things to Eat
ALL HOME COOKING
%
When you are hungry and want a good meal
come to the best place in town. We serve
Ham and Eggs Brains and Eggs
Delicious Steaks Fresh Fish
Also Regular Dinner.
Very Reasonably Priced.
NEW YORK CAFE
119 13th St., Near North Augusta Bridge.
FIFTEEN
STOCKS AND
BONDS.
countries than to deplete our own
supply now by placing a tariff on
Imported copper. This so-called
protection would really amount to
destruction of our own natural re
sourcea, while lack of protection
really means that we buy some cop
per from the outside and conserve
our own supply.
DEMAND FOR COPPER
IS ON THE INCREASE
"Hand in hand with this prospect
for plentiful and low cost copper
during the next few years, we find
a parallel development well under
way. We are expanding the use of
this Important and valuable metal.
Lower costs tempt larger markets
as is Invariably the case. As a re
sult of Katanga we shall probably
enjoy many uses of copper which
have not been considered practical
heretofore. Copper shingles, for In
stance, are a relatively new de
velopment and tho electrical In
dustry, progressing by leapß and
bounds, is providing a hundred new
and useful arpllances and me
chanisms, all of them more or less
made of copper.
"Africa has entered the copper
producing field,” concluded Mr.
Babson. “This is immediately Im
portant to the copper Industry, hut
It Is also significant to tho general
business world and to Investors who
may not hold copper shares. As Mr.
Hammond so clearly pointed out
to me, Africa can match or exceed
praetleally all of our American na
tural resources. That continent Is
only awaiting the developing In
fluence of our Christian civilization.
It Is deatined to become an In
creasingly important factor In our
Industrial world. It Is vital that
every banker, manufacturer, and
merchant should carefully consider
the probable course of this develop
ment and how tho entrance of Af
rica Into the world market will nf
fcct his own Industry. Instead of
going to Europe and apendlng one’s
time In London and Paris, might It
not be wise to go to Africa for the
next trip and study the situation
there?"
General business conditions In the
United States ns reflected on the
Babsonchart show a slightly in
creasing activity. Business Is now
running at 8 per cent beiow nor
mal.
COTTONSEED OIL
NEW YORK.—Cottonseed oil mar
ket closed steady;
Prime summer yellow, bid *10.85
Prime crude *9.00 sales.
November *lO 90
December 10.69 ,
January 10.73
February and March 10.77
April 1082
May 10.85
June 10.32
Sales 22,500.
LIBERTY BONDS
NEW YORK—United States gov
ernment bonds closed:
Liberty BV4's *IOO 23
First 4's bid 101.24
Second 4's bid 101.2
First 4*4's 101.23
Second 4<4's 101.8
Third 4U~* 101.22
Fourth 4Vi's 102.7
Treasury Al 4 'a .106,27
CALL MONEY
NEW YORK.—CaII money, steady:
high, low, ruling rate, closing hid, 2:
offered st !<4; Inst loan, 2: call loans
against acceptances, 1%. Time loans,
sotesdy; mixed collateral, 60-90 days,
JViO3 l 4; 4-6 month*. 3V40364; prims
commercial pnper, 5t403%.
NEW YORK SPOTS.
NEW YORK—Cotton spot, steady;
mldddllng, 24.80.
BAR SILVER.
NEW YORK. Bar silver, 69#;
Mexican dollars 63<4.
Brooks, Hyman & Co*
62 BEAVER HT. NEW YORK.
—Members—
New York Cotton Exchangt.
Represented by
R. E. ALLEN, Jr„ Augusta, Ga.
Orders solicited* for the purchase
and sale of Cotton for future de
livery.