Newspapers / Greensboro Daily News (Greensboro, … / July 2, 1922, edition 1 / Page 31
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TRADING IS LISTLESS; PRlCECHANGENARROW Near Approach of Legal Holi day Had Much to Do With Inactivity Seen. RAIL STRIKE A FACTOR i.tj Uml Win ta Deilr Km) (CowrUM. Mi, W rUUttehli Nbltt Udrar.) New York. July 1 Pre-hollday condition marked today' teaaion of th itock market with trading llst leaa, price chtmti narrow and lr regular and total transaction- tl mnted at less than a quarter of a million hare. Undoubtedly the proximity of the 4th of July, which wa responsible for the absence of many prominent traders from the floor of the exchange as well as from the .offices - of commission houses, was largely responsible for the small volume of business. The start of the shopmen's strike, while causing no great uneasiness, waa at any rate a factor in check ing enthusiasm. Interviews publish ed with some of the leading rail road executives took a hopeful view of the outlook. Published extracts of the president's address at the opening of the coal conference at tracted attention and gave rise to the hope that this controversy might be in process of settlement. Price movements during the day were unimportant and without par ticular significance. Kails showed a disposition to turn steadier after fractional opening declines. Bteele barely moved. There was scattered selling of the rails. Among the spe cialties displaying strength -was Amertcsn Waterworks, common. The market- at present shows 11st lossness and apathy more than ac tual weakness. There are too many unsettled problems up for consider ation to permit confident operations ob the long side. With an adjustment ol the labor disputes in the coal mining Industry and the railroads, th situation, It is believed, would change quickly for the better. I'P to th close of the market today, there was no news from the confer ence between the American oil com mission and the Mexican delegates. MONITOR'! WALL STREET GOSSIP. (Br UueJ Win te Dillr Nm.) ICeprriilit, '"' W rblliseloeU Public ledier.l New York, July 1 The start of the railway strike has apparently caused no uneasiness to the general pablio, as the holiday movement out of New York has already reached th heaviest volume on record at the Grand Central terminal. The actual bank statement shows a slight contraction in loans, this Item for the week ending July to taling $4,737.8S3,000 as compared with $4,848,923,000. At the same time net demands deposited dropped from J4,28,615,000 to $4, 181,584. MO. The spitlal, stockholders' meeting of Consolidated Cigar, whtoh was railed to vote on the proposed Issue of, 41,400 shares of common stock to stockholders at $25, and 6.100 shares to employes at the same price, has been adjourned for one "week-. It Is learned that W. C. Durant has virtually completed negetlatlons for the acquisition of the Locomo bile company, which is now In the hands of receiver; it is believed that the purchase price will be 000,000- While no announcement has been made by Mr. Uurant, as yet, it Is expected that he will continue operating the plant and manufacture a high class car much the same as th present model of the Locomobile- Mecent statements that Chicago Pneumatic Tool Is now earning i dividend are borne out by reports from the west that earnings of this company for th flrat half year were about ISSO.nOQ or $2 per share on tit m.STO.OW' stoclr after all charges, which Include a deprecia tion fund to, allow fof a Posslb e decline in the dellnr value of funds held In foreign countries through a drop n exchange rates. Current activity in American wa terworks, especially the common Ktook, which ha established a new high at i( as compared with 14 nn Wednesday, is based on Improved conditions in the company and the hop of a dividend declaration on th participating preferred later in the year, or early next year. Mar ket iosslp Ib to the effect .that cur rent earnings would justify an an nual rat, .of. IS per. ahare on thl issue. V ' MONUOtt, Cotton Goods Market Review. New York, July 1. Cotton good.' primary markets have been quieter this week without any material change In the upward trend of prices. Many finished goods that have been selling below a parity of gray cloths are held at higher figures, especially wher any sales of stock goods have strengthened th position of agent. The Jobbers and retailers are still slow In their response to the price uplift in flrat hands markets follow ing the rise in cotton. They are buy ing conservatively and have been un willing to move na firmly ahead on many staple goods, as the manufac turing trades hav gone. The heavy end of the Industry, such as duck, automobile fabrics, bills, twills, etc., have Improved, in conse quence of the demand following the recovery In general trade. The New Kngland strikes are breaking up very . jnwiv. Production has been Increas ing at Fall Iliver and some other i-tnmri where slack operation was the rule. There has been an improvement In line combed yarn fabrics and buying tor frrture delivery has been steadier. Wash fabrics uf a novelty character arc being cleaned up well but many of the staples In Seasonable goods are not moving seasonably in tne volume anticipated. Cotton yarns are high r with irade restricted by the ad vances. Knit goods production has been decreasing in the uiuWwear gaged for the next two months and a better movement in consuming channels is looked for In the aulun Trices current In first hands are as follows: Print cloths. 2S inch 6lx6ls. 7 rents; '4x0. t cents: KVt inch 84x64. 9 rants: Hrown Hhcctinas. Southern standards, 18 rents; Denims, I. Jos, Indigo, II cents; Tickings, I ounce, xtmnlra. 22M, cants: Prints 10U cents; Htaple ginghams lOVk cents; dresB ginghams SO to 22 Vtt oents., ., ' BALTIMORE PHnnrcK. 1 tar ImkiI win w titllj Sen.) Baltimore, July 1. Kggs: Loss off; native end nearby firsts, 24; south ern 8323. Hitler, creamery fancy, pound, 39 40; prints, 4042; nearby creamery, 356.371 ladles, 28ff3f; rolls, 8638; tore parked, 2526; dairy print, II process butter. 32033. t HAHLOTTK COTTON MARKET. .oprvtAl MUMUly Nm.f Charlotte, July 1. Charlotte cot ton ma.ket: Receipts. 26 bales; price, II cents. Foreign Kxehnnge. New York. July 1. Foreign ex change, Irregular: Great Hrltaln, de mand, 4.424; cables. . 4.43: 60-day hills on banks, -4.40. France, de mand. 139; cahles, 8 394. Italy, de mand, 4 69: cables, 4.694. Belgium, demand, 7.97; cables, 7 97, Germany demand, .26; cable, .25. Holland, demand, 38. B0; cables 88.53. Nor way, demand, 16.66. Sweden, demand, 25.90, Denmark, demand ,2146. Swlt aerlnntl, demand, 192. Spain, de " matid. 18.68. Greece, demand. I 00. Toland, demand, .02 4- Csechoslo vakla demand, 1 92. Argentine, de mand, 15.87. Brasll, demand, 13.75. Montreal 99. I nllnmrcd Oil. New York. July 1. Cottonseed oil Htartod allihtly lower, but aoon worked higher through covering operations. Closing bids were un changed to 8 point net higher for HUttve positions, sales s.suu oarreis. j,n trnaers were put out. This mar- i will ariiourn at noon, on Monday 'rlmo crude nominal; prim summer pjlow spot, il.l'i; juiy, ii.i"; ,oep twnucr. 11.21; December, 120, all T Attendane ol Member On Floor of Bxeaaag Was Bxtreately Small aad Day's Turn Over Less Than On Any j Previous Occasion During Year. ! New York, July 1. For all practi cal purpose, today' stock market was almost non-eilstent. The at tendance of mirobiri on the floor of th exchange waa of th slimmest proportions and th turnover of lit tle more than 100,000 shares waa the. smallest, even for a week-end, since th beginning of th year. Ralls held their ground regard less of the slrik situation, early nominal recession being largely, if not entirely, rearained later. Some of. the Independent steels, as well as active oils and motor made moder ate gains on tn day,., but many of the leader rose and fell within frac tional limits. Among specialties and miscellan eous stocks, Cnca-Cola, North Ameri can, American Waterworks and Mal- linson wera, higher by substantial fractions to S points and ssveral of the local utilltiea improved, Weekly trade reports indicated that, business at several of the larger 'dis tributing centers was marking time. crop report were mixed, southwest ern anviees showing some deteriora tion for corn and evrl other sta ples. For the first time In almost two months actual loans and discount of the clearing house bank ahowsd a large decrease, th contraction of $106,000,000 being accompanied by a decrease of about $152,000,000 In net demand deposits and a. little more than $100,000,000 In time depoaits. The actual cash gain of nracticallv 4)20.600,000 wiped out th previous wees ancu, leaving excess re serves at almost $17,000,000. The foreign exchange market man ifested further unsettlement on verv Mailt deallnca. Sterling held the better, part of yesterday's rally, but most continental rate wer unsteady, and the German mark established an absolute new low at a fraction under .036. , New York Stock List. ' Bel! l - 100'e Hlshot IM florins Al. C. and D... . 1 . SI 174 68 Am. Can 8 414 46 4H Am. Int. Corp. 1 41 41V 41I Am. Loco J 112 llltf 1114 Am. S. and R. . 10 5914 ' lH B4 Am. Hum. Tob. 1 194 394 S94 Am. T. and T.. 12 120 1S04 1204 Ana. Cop 10 614 60 4 614 Atchison ..... 10 100 99 100 A. . 0. and Vf. I. 1 38 88 38 Bald. 'Loco. ... 8 114 113 111 B. and 0 12 494 494 494 Beth. Htl. "B". 4 764 71 764 Can. Pac 1 138 1384 1384 Chan. Motors . I 70 69 4 70 Ches. and Ohio 684 16 4 64 C, M. and S. P. - 1 264 !4 26 C. R. I. and V, JO 434 414 434 Coca-Cola .... 245 734 70 714 Corn Prod. ... 1 104 104 J04 Cruolbi fjtl. . . I 74 73 74 Cu. Ca. Su... 12 14 16 164 Krl 5 15 16 154 Fa. Play.-L. 1 .804, 10 80. Gen... Asphalt . 16 66 65 4 6 4 Gen. Motors .. 460 14 14 14 Ort. North, pfd. 10 77 774 774 Olf. fits, Stl.... 4 77 78 774 111. Central ... 1 105 106 106 Insp. Cop. ... 7 39 9 Jnt. Har 1 108 102 102 Int. M. M. pfd.. 1 72 7! 72 lnv. Oil 14 15 14 14 Kelly-Sp. Tire. 47 47 47 Kenne. Cop. .. 40 13 334 33 Mex. Pet II 177 1764 171 Mid. 8ts. Oil... 10 13 18 18 Mldvale Htl . . . I 83 88 13 Mo. Pacific .... I 214 21 21 N. Y. Cent. ... 4 94 94 94 N.Y..N. H. A H. 12 29 29 29 N. Faclflo 6 74 74 74 Ok. P. and R.. 8 3 4 8 Pacific Oil ... 25 654 64 654 Pan-Am. Pet. . 12 714 77 77 Penn 47 42 42 424 Pure Oil 80 81 30 4 80 Reading ..... I 74 74 74 Ren. I. andStl. 8 70 70 70 R. Putch. N. Y. 4 59 59 69 Sin. O. and R. . 10 32 31 82 S. Pacific 10 89 4 89 89 South. Kwy. .. 12 23 234 234- (I. Rwy. pfd... 1 t) bi on 8. O., N, J., pfd 7 116 111 116 Stude. Corp. .. 105 128 127 127 Tenn. Cop. ... 1 io iu ivik Texas Co 9 47 46 47 4 T. and Pacific. 27 87 27 Tob. Prod. ... 2 80 80 80 Trans. Oil .... 70 14 13 14 ITnlon Pac. .. 10 139 139 139 Uni. Fruit .... 2 139 139 189 V. Ret.. Store. 4 65 66 65 V. S. Rub. ... i !4 a J l S. Rtl 18 99 4 99 99 Vtah Cop 7 63 83 63 Vana. Corp. .. 2 45 44 44 Va, Car. Chem. 1 80 o 30 V. Union .... 1 9' ' 97 W. Eloc 3 68 4 68 58 4 Wlllye.-Over. . 3 8 8 8 Hay. Con. Cop. 8 16 16 16 T, P., C. A O 8 274 27 274 Total salea, 112.600 shares. ADDITIONAL STOCK LIST. I Br Uued Win to Daily mil New York, July 1. Following are closing sales on additional stocks: American Tobacco 140 Butte Copper Cerio de Pasco.. 364 Chicago and Alton 10 Chicago Oreat Western pfd 20 C, M. St. P. 28 do. pfd. 41 Chicago and Northwestern 74 Chile Copper 21 Consolidated Textile 11 Cosden and Co 45 Cuban American Sugar 23 Cuba Cane pfd 34 Dome Mines 28 Goodrich 39 Houston Oil ii 76 Kansas and Oulf Co 4 Maxwell "A" 66 4 do. "11" 23 Xlnn. and St. L 11 M.. K. and T . . v " do. 1st pfd. . A 39 Otis Steel 11 Pere Marquette 1 Plerc Arrow ' 1V Pierc Oil I Saxon Motors 3 Western Pacific 19 4 Wln-ellng and Lake Erie pfd 25 4 White Motor 48 White Oil KISW YORK CURB. IBr Umco Win to D1U Una ) New York. July 1. Following were last sale on the curb: Radio Corp. com 4 RniHiiAMr PetM 0.32 Federal Oil ? 1 11-16 Marac.albo Oil Merrltt Oil Skelly Oil Consolidated Copper 19 10 104 0 54) rhlrago Livestock. Chicago, July 1 Cattle: Receipts 1,000; compared with week ago, bee steers, 26 to 86 cents higher, year lings 25 to 60 cent higher; spots on In between grades up more, week s top matured steers, 10.10: long year lings, 10.00; butcher cows and heif ers, unevenly strong, to 35 cents higher; canner and cuttera weak to z& cents lower canners snowina most decline; bulls, 85 to 85 cents h alter: vearllnar calves largely eti cents higher; spot morn stookere and feeders. n.7(,.7t; outcner s,ne stock, 6.00(87,50; canners and cut lers, '11101.76; veal calves. 8.003J 1,75. Hogs: Reelpta, 10,000, market onened about 10 cents lower, closed at 10 to 10 cent lower, lighter welahts off most: ton. 10.75 early; bulk. 9.403,10.66: bulk good butchers. KI.41IO 10.65: noioover mooeraie; pins. 25 cent lower; heavy weight, 10.sHrty. W 10.56: medium, iq.oiiw iu.t; ngni, 10.60i0.70: light lights. 10.25W 10.80: packing sows, smooth 9.00 9.60: packing aowa, rough, I.76W9.10 killing pigs, l.3010.30. Sheep: Receipts. X00, mostly dl rect; market strong, top native lambs, 11.26; compared with week aao. lambs. yarllnga and handy fat sheen, mostly 60 cents higher, heavy sheep averaging 100 higher, week s closing bulk prloes native lamba, 1100; culls. 1,00 7,50; yearling, jo.ooniii.oo; ewe. B.tiinre.ou topper Market Steadier. '. New York, July l.--The copper market has been steadier during tne past week on g.sugntiy better in qulry for both domestic eonsump tlon and exnort. Offering of eiec trolytlo below 11 ar beooming fewer and most producers are hold lng for fully that figure. Iron was firm. Foreign bar silver,' 71. Mex- loan aoiiars, n. COnON IS OFF A LITTLE Market Iv err Quiet Except For Fur ther livening In For the Govern ment Report Monday Close Steady At 3-4 Points Lower. New York. July 1. Except for fur ther evening up of accounts In prep aration for Monday's government re port, very little business was report ed In the cotton market today and fluctuations showed continued irreg ularity, October sold off to 21.32, early under scattering liquidation but later rallied to 21.63 on covering promoted by prospects . fur unsettled weather In the belt. That delivery closed at 21.48 with the general mar ket closing steady at net declines of 2 to 4 points. Th market opened at a decline of 10 to II points and sold 15 to 21 points net lower during th early trading. The bulk of the pressure wa attributed to further liquidation, but there was probably some scat tered local selling on a less favora bls view of the Tabor news and re port that th recent break in raw material waa checking the demand for cotton good. , July eased off to 21.38 and December to 21.13, but of ferings then became very light and there was enough covering or trade buying to cause ralliea of some 18 to 20 points during th middle of th morning. Prospect for unsettled or showery weather in 'the south may have helped to steady prices, while there were reiterated reports of pros pects for heavy boll weevil damage, and bullish comment on the statisti cal position as shown In yesterday's weekrand flgure. Th rally carried July up to 21.66 and December to 21.32, but xcept for covering there wa vry little demand, and the close was a few points off from the best. Three more private crop reports were published with the condition figures ranging from 70 up to 72.8, and th crop indication from 10,782.000 to 11,115,000 bales. In all, 16 private end-June report have been issued with the condition figures averaging 72.1 and the figure on the Indicated crop 11,102,000 bales. Manchester cable advices said that goods buyerB were showing less confidence in prices, but that British manufacturers expected to do a good business with India and China. Fall River reported that business there had been restrict ed by the unwillingness of manufac turers to consider bid and conces sions. Futures: Frl. Low; Close. Close Open. July ..21.48 Oct. ..21.40 Dec. . .21.18 Jan. ..30.91 War. . .20.83 High. 21.55 21.63 21.32 21.06 21.88 21.62 21.68 21.12 Z1.48 21.13 21.28 20.84 21.02 31 62 21.30 21.05 20.98 23.06. 20.92 ao.80 20.91 Cotton, spot quiet; middling, rrt Movement Of Cotton. New Orleans: Middling, 21.6(1; re ceipts, 1.446; exports, 14,767; sales, 646; stock. 136,960. Galveston: Middling, 22.35; re ceipts, 4,505; exports, 31.082; sales, 1, 432; stock, 129.652. Mobile: Middling, 21.00; receipts, 147; stock, 1,637. Savannah: Middling, 21.52; re ceipts, 1,249; export, 1,877; stock, 87,520. Charleston: Receipts, 178; stock, 59,409. W Imlngton: Middling,. 21.00; re ceipts. 462; stock, 33,878. Texas city: stork, . i,s. Norfolk: Middling. 21.50: receipts. 232; export, 3,050; sales, 67; stock, 44,111. 1- Baltimore: Stock, 1,691. Boston: Middling, 2-MCi; stock, 4,- 600. PhllatWlphla: Stock. 4.142. New York: Middling, 22.05: stock. 197,986. Minor ports: Receipts, 960; exports. 950; stock, 2.236. Total today: Recelptr. .!: ex ports. 51.326: Btock. 704.421. Total tor week: Recelpta, 9,169; exports. 51.228. 'total tor season: Receipts. 6.123.- 987; exports, 6,717,648. Interior tlovement Of Cotton. . Houston: Middling. 22.15: receipts 2.570; shipments. 5.147: sales. 333: SIOCK, 62,11)0. Memphis: Mlddllnsr. 22.60: receipts 1,446; shipments, 2,689: sales. 200 stock, 78,768. Augusta: Middling. 21.62: recelDts. oo; snipments, r-,46; stock, 77,814. St. Louis- Middllnr. 22.60: recelots. 2,069; shipments. 2.069: stock. 11.576. Atlanta: Middling, 22.25. Little Rock: Middling-. 21.50: re ceipts, 120: shipments, 02; sales. 33; Stock, 24,932. Dallas: Middling, 21.60; sales, 681. Montgomery: . MldfNIng, 21.50. Total todav: RecelDts. 6.260: ship ments, 12,582; stock, 282,830. RAILROAD LABOR TROUBLES UKI'HESS N. O. COTTOM MAHKICT New Orleans. July 1. Small de pression In the orlc of cotton to day waa caus.-d by the railroad labor troubles and continued hot and dry weatner over the greater part of the belt, although the last half of the session oroiiKht partial recoveries on tne rorecast of snowery weather for several states. The opening was lltWfir Ullri in thj, oal-lv Iririlns ha declines amounted, to 16 to 18 pointi wcionsr oropping orr to ZU.S7. This was the low of the day. In the later trading the active months came back to levels unchanged to 8 nolnts dow compared with yesterday's finals, but tne cios was at net losses of 6 to 13 points, October closing at 20.99, in weatner man showed onlv few rains scattered over th belt, none or them heavy and this went far toward offsetting further reports that weevils were numerous In many localities in Texas. Tne rail strike, while not regarded as serious for the immediate future, caused worry lest transportation should become dlfricult when the crop starts move, should the strike continue mat long. At t,mes trading nla nlv was re strlcted by the government's second report of th season on th growing crop, which Is due Monday at 11:80 o'clock. New Orlean time, all th more so because the trade will have only an hour and a half to discount it in before the market closes for the holiday Tuesday, r uiurea Open. , .21.35 ..20.98 . .20.65 ..30.41 High Low. Close July October . 21.19 21.19 31.29 21.05 20 87 20.99 December January 20.74 20.68 20.66 10 60 20.42 M 60 March .20.20 20.35 20.16 20. Spot cotton quiet; middling, 21.60. POST A FLAGG'R COTTON LETTER, isuecie te neitj Nvs.) New York, July l. The market has been idle and Indifferent with flue. tuations barely perceptible today. Thl suggests that the speculative In terest has been rather well evened up for tne report on Monday, and until that is out of tit way, few traders will care to enter into any commit' ments of Importance. Kxporta today nave amounted to about 85.000 bales, according to re. fiorts ao far and rumors persist that arg shipments may be expected out of the local stock, It looks to us that the world Is going to want lot of cotton next seann and that the outlook for a aatlsfaetory supply re mains dubious. Should the figures on Monday o nign ennurn to lead to renewed pressure and a lower market, we should be inclined to pick up some contracts on a scale down which we believe will eventually prove to Deevery satietaciory prop- POST AND KLAGG. BALTIMORE GRAIV AND HAY. till Ue4 Win n Dill; Neat.) Baltimore, July 1. Wheat: No. red winter spot, no quotations; 'No. 2 red winter spot, l.S bid, No. I red wl-nter garlicky new, 1.18 per bushel. July wheat 1.18 bid. August, no bid Corn: Cob, old yellow quoted, 3.50 pr barrel; contract corn spot, 71 No. 4 corn spot. 71: track corn yel low No. 2 or better. 76. Oats: White No. 3, 47 per bushel No. 3 new, 46ltl4, Hay: Receipts, 11 tons: range Is 17.00 to zi.ou ror ratr to good quality timothy and mixed hay. Market firm supply on nana ample ror trade. l.ihaWv Hon Ja. New York, July 1. Liberty bond1 closed: 34's, 100.08; ffrst 4's. 100.04 bid; second 4', 9992 bid; first 4's, 100 24; second 4's, 100.04: third 4's, 100.08; fourth 4 '.4 ', 100.31; vie lory V. liMMS. GREENSBORO DAILY, NEWS, SUNDAY, JULY GK TONE-IS RRIVI SAYS WORLD'S NEED i-iiiiii.i un. ' I Al I I K "w-1 11 1 II 1 f Apprehension of Black Rust In The Northwest nna Disappointing Re ports Regarding Threshing In The Winter Wheut Belt Responsible. Chicago, July 1, Disappointing re ports regarding threshing in the winter wheat belt and the apprehen sion of black rust in the northwest gave a decidedly firm undertone to the grain market today. The fact that some of these report claimed damage was overlooked by the trade in me bullish enthusiasm. At the finish, wheat waa l4f34 cents higher, with July 1.17 dl. 17. and September 1.17 1. 17. Corn ad vanced vi cents; oats were (fj-14 cents up. and provisions ranged from 7 cents lower to 5 cents higher. WHEAT: Open. High. 1.17 1.18 1.80 July 1.14 sept... Ill Dee. . . 1.18 CORN July Sept. . . Dec. . . OATS: July .. Sept. . . .35 .38 .41 uec. . , LARD: July .. 11.25 11.32 11.67 Sept. ..11.65 hibs: July .. , .. .. 11.90 11.62 Vn p-H 1 IRIX, Va Sept casn: wncat hard, 1.18. Corn, No. 2 mixed, 68 64; No. 2 yellow, 64 64 4. NEW YORK BONDS. Foreign Bonds. Argentine 7s 100 French Republic 7s 100 Kingdom of Belgium 7s ....1074 Kinadom of Denmark is .... 98 4 Swiss Confederation 8s 1194 Un. King, of O.H.andl.6s,i87 103 U. 8. of Brasll 8s 108 U. 8. of Mexico 5s 60 Railway and Miscellaneous Bonds. American Agrlc. Chem. 7 4 .,..103 American Smelt, and Ref. 5 .. 91 Amer can Sugar 6s 1014 American T. and T. cv. 6s 114 Atchison gen. 4s 91 Atlantic Coast Line 1st 4s .... 80 Baltimore and Ohio cv. 4 4 .. 82 Bethlehem Steel ref. 6s 90 Chesapeake and Ohio cv. 4s .... 93 Chicago, B. and Qulncy ref. 6s . .100 Chic, Mil. and S. P. cv. 4s .. B Chic, R. I. and Pac. ref. 4s .... 81 Chile Copper 6s 91 Cuba Cane Sugar 7s 114 Erie gen. 4s 63 4 Goodyear Tire 8s, 1931 101 Int. Mer. Marine 6s 96 Kans. City and Southern ref. 6s 88 Kelly-Sprlngfleld Tire 8s 107 Liggett and Myers 6s . . . 97 4 Louisville and Nash. ref. 6s .105 4 Mexican Petroleum Is 1074 Mo. Kan. and Tex. pr. Hen 6s .. 824 Missouri Pac. gen. 4s 63 New York Central deb. 6s 103 Norfolk and Western cv. 6s ..109 Northern Pacific 4s 87 Nor. Pac.-Gt. Nor. Joint 5 ..105 Pennsylvania gen. 6s 100 Reading gen. 4s 88 St. L and San Fran adj. 6s 78 Seaboard Air Line con. 6s 69 S A. Lady 6s 26 Sinclair Oil 7s 104 Southern Bell Tel. 5 94 Southern Pacific cv. 4s 91 fcouthern Railway 5s 95 Southern Railway 6s 100 Southern Railway 4s 66 Union Pacific 4s 98 V. 8. Steel 5s 102 Virginia Caro. Chem. 7s 106 Wilson and CO. 74s ',...1024 SOUTHERN MILL STOCKS. (Quoted by R. S. Dickson and Com pany. Gastonla, N. C, and Greenville, 6. C I Bid Ask Acme -Spinning Co 92 91 265 Arcadia Mills .120 American boinnlng Co. .. Amer. Yarn and Proc. Co. Amer. Yarn and Proc. pfd. .110 .102 103 Anderson Cotton Mills 87 Arlington Cotton Mills 261 Aragon Cotton Mills (S. C.)..215 Arcade Cotton Mills.... 98 180 Arrow Mill Augusta Factory Belton Cotton Mill .... .115 32 66 Helton Cotton Mills, pid Beaumont Mfg. Co. . .. 67 .211 Bibb Mfg. Co 7 120 151 Hrogon Mills ii Clara Mfg. Co 100 Clifton Mfg. Co 121 Cnbarrus Cotton Mills 190 Cabarrus Cotton Mills pfd... 103 CVd'k-Hoskln Co. (par 125) 14 C'd'k-Hosklns Co. pfd Chlquola Mfg. Co 148 Chlquola Mfg. pfd. II Calhoun Mills 140 Cannon Mfg. Co. 120 Clover Mills 100 111 Climax Spinning Co. 14U Creecent Spinning Co 1"9 Columbus Miff. Co. (Ua.) . ..lt 166 Converse, 1). E Co 105 Darlington Mfg. Co 71 nrxon Mills loo lirayton Mill 46 Dresden Cotton Mills 315 Punean Mills 100 Duncan Mills, pfd 95 Durham Hosiery, pfd 80 Durham Hosiery "B" 23 Eastern Mfg. Co Fasle and Phenlx (Ga.) ho Kflrd Mfg. Co ;..1I0 enterprise Mig. Co. (Ua.) .. so Krwin Cotton Mills Co 3uo Erwin Cotton Mills Co. pfd. 102 90 Flint Mfg. Co 150 Oaffney Mfg, Co 67 Gibson Mfg. Co 185 Globe Yarn Mills (N. 0.) .. II 171 Graoe Cotton Mill Co Gray Mfg. Co 800 Glenwood Cotton Mills ,...101. Qluck Mills W4 Greenwood Cotton Mills ..,,170 Grendel Mills Grendel Mills, nfd (par 150) 38 140 46 130 140 14 104 160 Oranltevllle Mfg. Co 112 HamricK Mills no Hanes. P. IL. Knitting Co... 13 Ulanes, P. H. Knit. Co. pfd. 101 rtln.l.la 111 Hillside Cotton Mill's "(O.V'00 Inman Mills , 81 Inman Mill nfd. .......... 92 Jennings Cotton Mill 215 Judson Mills ....257 Judson Mills, pfd 99 King, Jno. P. Mfg, Co. ....146 Lancaster Cotton Mills ....198 Limestone Mills II K Llnford Mills 81 Lola Mfg. Co 96 Lock Cotton Mill Co 125 jaurens Lotion Mills Marlboro Cotton Mills .... 73 Mills Mill Mills Mill pfd 95 Monarch Mills (8. C.) ,,,,) Mollohon Mfg. Co. 100 Musgrove Cotton Mills .... 60 Myers Mill 73 Myrtle Mills 100 111 . 6 lii ii lii National Yarn Mill 140 Newberry Cotton Mill ....124 Orr Cotton Mill 94 Orr Cotton Mill, pfd. .... 91 Parkdale Mills 110 Pacolet Mfg. Co 130 Parolet Mfg. Co. pfd 182 Pelxer Mfg. Co 101 Piedmont Mfg. Co. (S, C.1..128 Perfertlnn Spinning Co, .. 88 Po. P. W. Mfg. Co 103 Poinsett, Mills 71 Prlscilla Spinning Co 65 Ranlo Mfg. Co 124 Rex Spinning Co Rex Spinning Co. pfd. .. Ridge Mills 72 Riverside Mills (Par 112 50 I Riverside and Dan River ,.ST0 Riverside and Dan Hlver pfd. 100 Rowau Cotton Mills Co 80 Roanoke Mills 1st pfd 102 Roanoke Mills 2nd pfd 98 Rosemary pfd ...,108 Rhyne-Houser Mfg. Co 90 it 107 76 67 130 87 II 103 100 103 is saxon mi la fleminole Cotton Mills Co, Sibley Mfg. Co.- (Ua.) . Spartan Mills Sterling Spinning Co.... 93 123 113 Superior Yarn Mills 89 Toxaway Mills (par 26) .. 28 Cnlon-Buffalo Mill 20 Union-Buffalo Mill 1st pfd 84 ITnlon-Bufali Mills, 2(1 pfd. 44 Victor-MonHghan Co 97 Vlctor-Monaghan Co. pfd. Victory Yarn Mills Co., Ware Shoals Mfg. Co..., Watts Mills 1st nfd. ,,. Watts Mills, 2nd pfd. . . Wlngct Yarn Mills Co. , Wlscasselt Mills Co WUliamaton Mill 107 84 145 in 71 16 .... II 290 ..,.300 . . .-91 pfd. IT ....! 76 Woodsld Cotton Mill Woodslde Cotton Mills Woodruff Cotton Mills 1 Low. Cios. 1.14 , 1.17 1.15 1.17 1.18 1.204 .614 .68 .12 .684 .66 .66 .66 .86 .66 ,66 .65 .66 .86 ' .85 .26 .19 .31 .19 42 .114 .42 11.37 11.25 11.(2 ll.il lb ULbAK HNNNIi And That Need Now Is Great er Than EVer, Lowell Tells Harvard Seniors MAKE AMERICAN SPIRIT Four hundred member of the Harvard senior class listened to Preidnt Lowells haccaulaureate sermon. In whlch he charged that they think clearly, that they do not do aa th crowd does, but think for themselves, form a standard of moral conduct, and act upon It with out flinching . He took for his text: They measuring themselves by themselves, and comparing them selves among themselves, ars not wise." ... Not always Immediately, but 'ulti mately, mankind la led by those who thinking la clear, conscien tious. and generous." said President Lowell, "and never In it history has the world been more in need of such thinking than it Is no4J By now i uo not mean oniy curing tne next half a dozen years, but during the period when the men who are now graduating will be In a posi tion to exert their influence in the fullest measure. 'Civilization cannot be Independ ent of the material Instruments of which it makes use, and the increase In man's control of and ability to apply th forces of nature has been greater during the last hundred years than In any preceding 20 cen turles of the world's history. A lit tie over a hundred years ago horses supplied, as in the days of the Ro mans, the most rapid means of con veylng men, merchandise or Intelli gence. Wind was the only power for crossing the sea. Today any fnlng of public Interest that hap pens In any civilized country If known In every newspaper office over (he earth almost as soon as it occurs. A man's voice can now be heard all over this country, and soon 11 bo audible over the whole world. Flight across the Atlantic is accomplished fact; and during the great war w sent a million armed men to Europe In a few months. Influence nt Inventions. Civilization has always been deeply influenced by Inventions. No one can doubt what a change was wrought In the ancient world by the use of metal. The improvement of transportation by land and water en larged trade, and trade brought in tercpurse, with Its new relatloins, its enlarged horizon and its temptations to a foreign conquest, until the sail lng ship and the mariner's compass opened the whole world to the peo ple of Europe. It has been pointed out that the invention of firearms, and especially of cannon, destroyed the feudal organization of society, because the baron's castle was no longer a refuge difficult to capture "The extent to which the recent progress In applied science will af fect both the relation of men to one another and the interdependence of different peoples Is as yet unknown; nor will It be wholly settled for a generation to. come, even If no fur ther scientific discoveries and inven tions are made. Who will determine these new relations arlght7 Upon whom will the guidance for better or worse rest? Obviously, upon the Intelligent, the educated and the public-spirited people of the world. Will they set themselves earnestly to this gigantic task, or will they immerse themselves In their private pursuits and pleasure and let things drift? "By th benefactions of people dead and living filled with far sighted generosity you have been trained, not only for your own bene fit, but also for service to the coun try wher you have been born,' There lies the most vital point. John Harvard, and the benefactors who followed him, whose example has been followed In a host of other col leges, wer Inspired by a desire to help their own community, but they had no conception of the vast area over which the seed they nourished would bear fruit. When the earlier colleges were planter, the small set tlements on the Atlantic seaboard were laboriously pushing their way from the hore into the forest; but now thlr graduates go forth across the long range of hills Into the vast plains beyond and through the Rooky mountains to the western ocean. They can, If they will, In fluence th destiny of th continent Then th few people were of one stock. Now all the races of Europe have crowded Into the land. Anierlran Spirit Still In the Making. "We hear much talk of the Amerl can spirit, as if It were a thing fixed and done, but It I atlll In the mak ing and will be for many years to come. Shall It be a cnaos or jarnnis self-interests, to which each race and each class contributes Its harsher notes, or shall It be a har mony of what Is best In each? The question will not snon have Its final answer, and that answer win ae pend less upon the generation which la pasfnjr away than on tnai whloh la now coming on th stage. Even men now young may not see all that will come In the fullness of tlm. Our forefather planted the eed, our fathers cultivated It, and w must csrrv on the work, even though It may not be our lot to wield The sickle in the ripened field; Nor ours to bear on autumn eve The reaper's nong among the sheavas. "The problems before us are not those of our own land alone, but of the world. The great war has partly caused and partly revealed a vast change In the position of our country. It has been like a young giant boasting of his strength, yet In fact only half aware of his real force. Th war and the event that followed have shown that the United States, with her resources in men and nature, has become a power un matched in the world. Other na Hons are looking to It as they have hardly looked to another peopl hu- foro. "It Is no small thing to have power to Influence the fate of all mankind upon th earth. With power come opportunity, and with opportunity responsblllty. Our own right hand may yet teach us ter rlblo things. . Our power le likely to grow still greater In the world, and what do w want our nation to Be come! Shall w be satisfied with material wealth and comfort, or do w deslr a higher detlny? Nation 1 Made by It People. - "In the ancient world there were two people, both commercial, both prosperous .both powerful in their day and both at laat conquered by th Roman. One of them, the Greeks, led the way for all later European people In art, in litera ture, In phtloaophy and In acience. The other, th Carthaginians, . have left nothing , and all w kJiow of them come from th histories fbf iiicni 1:1 helr co Is peop " "it conquerors. A nation I what pie make It. M If we could retain the fervor and devotion that our young men dis played In the war, and which they would put forth again In a national crisis; if we could retain that spirit in the slow, hard labora of peace; if their exaltation should never fade in the light of common day, - we could be the greatest people that ever dwelt upon the earth. This is not to b achieved by men' com paring themselves among them selves, or measuring themselves by an average standard, but by living up to the best they know and meas uring themselves by their own high est aspiration. Nor should uch men be discouraged because they ar not always understood." New York Times. . . Further Rise of Liberty Bonds a Feature On Nominal Market New York. July 1. Th only fea ture of today's narrow and nominal bond market waa the further rls of Liberty 4's to the four's maximum of-,.100.32. Mexican governments made up part of yesterday' setback but Europeans were listless ana un changed. Atchison adjustment 4' yielded one point and moderate reactions were sustained by K areas City Soutrfern 5's. Interborough Rapid Transit t and Third venue Adjustment 6's. Total sales par vaiu i,jd,uuv. Dry Goods Market. 1 New York. July 1. Cotton goods markets were quiet today, primary traders awaiting a lead from the government crop report due on Mon day. Yarns were firm. Knit goods were steady with preparations un derway for the opening of a new season. Wool dress goods sold bet ter for fall delivery. Silks were steady. Clearing House Statement. New York, July 1. The actual con dition of the 'clearing house banks and trust companies for the week shows that they hold 1186,867,490 In excess of legal requirement. Thl is an increase of 120,423,690 from last week. Savannak Naval Store. Savannah. July 1. Turpentine quiet, 1.18 4: sales, none; receipts, SSdr shliirnents. 114: stock. 6.283. Rosin, steady; sales, 66; receipts. 1.032, shipments, 2,150v stock, 72,. 104. Quote: B 4.45; D 5; E 4.90 F G H 5.00; I 6.05; K 5.30; M 6.60 N 5 75; WG 6.86; WW 6.80. 1 trial. Potato Market. Chicago. July 1. Potatoes, steady. Knuthcrii Bliss Triumphs, sacked. No, 1, 2Oi?r2.80 cwt; Alabama Bpauld ing Rose. 1.90ff3.10; North Carolina, Norfolk Irish cobblers, barrel, wo. l 3 85W4 35; mostly. 4,00a-4.25; east ern shore. 4.504.76. Riiirar and Coffee. New York, July 1. Spot coffee quiet; Rio 7's, 101J10T; Santos 4's, 1 1 u. r,l u iv; . Raw nugar firmer at unchanged to 3 .points nigner. Tourists Flock to Occupied Germany to Dodge Profiteers Cohlenz, June 12. American and British tourists ar flocking to the larger cities In the occupied area of Germany in order to escape the high prices for living now leveled against allied national In th Inter ior of Germany. Hundreds of visitor on their way to and from the Passion play at Ober- ammergau making their headquarters during their stay In Germany in this city, and report from Cologne, oc cupied by the British and from Mayence and Wiesbaden, occupied by the French, are to the same effect. In the occupied area they are pro tected agaltist profiteering by laws which prevent German tradesmen discriminating against allied na tionals. Prices In the occupation xone. however, have taken a Jump of about 75 per cent lnce the mark went very low a few weeks ago and Its gain within the past few days has had no effect whatever on prices. All tourists returning from the in terior are warning their friends not to place themselves at the mercy of the German profiteer who are charging visitors from 200 to 600 per cent more than German na- tlonals- Unfair Discrimination Members of tne jewieh race claim that 'they are being excluded from Harvard college, Well, we never heard of any of them getting Into the College of Cardinals either. Life. 666 quickly relieves Colds, Constipation, Biliousness and Headaches. A Fine Tonic. L V. EDWARDS Consulting Civil Engineer Street. Highway, Sewera, Wa ter, fairer. Report, Con Taction Snpervlnna. VINSTON-SAI.EM. X. C W. McC. Neale, M. E. V O. ?ox SRI Phon MS CONSULTING MRCHAMCAL ENGINEERS Maewla and Mill Design G1LBERTC.WHITEC0. An OrgnnlMtUa of Cl0, Mechanical, Electrical huA Chemical Enfliitn DURHAM, N. C 1 WATER WOBKS, POWER PLANTS, STHEKTS. HOADS If You Want To Borrow Money On Your Cotton can gt tv for you at retsonahie ru 'm. warehouses are bonded . Ml our ni-protlsble warehnu re ceipt sr known everywhere. Our rstee for storage and insurance ar cheat. '' ille ui for Information. Greensboro Warehouse & Storage Co. ,1. K l.ntsam, Vle,.Preldent. Important Th gcott-Charnley Audit Servlc mean an Independent verification of th books and account with a detailed report thereof, oontalnlng audited iatemant of both the financial condition and operation of th business. Such audits carry a distinctly valu for financial, administrative and Tax return purposes. RaUtfh. N. C LWWWVWVUVVnVUWWVV I? Sun Rises Before It Is Up; Sets After It Has Gone Down Hotter the Sun, the Cooler the Earth Becomes, and Hottest Part of Day Is Not at Noon, But During the Afternoon; Also, a Wet Rainstorm Dries the Air Paradoxes Explained (By Associated Press) Washington, July 1. A rainstorm dries th air; mora goes up than come down; as the sun sets th air grow warmer; the hotter the aun grow, th colder the arth becomes; the sun rise betor It I up and sat after It la down. These are strong statement and sound Ilk a fairy tale, but they are all true. Dr. W, J. Humphreys, quoted in th annual report of the Smithsonian Institution which has just been made pubtle, explains all of them. They are perfectly well kaown to scientist, If not to laymen. As everyone know. Dr. Humphrey declare, water evaporate and is taken up In the air a vapor. This action Is continuous all over th earth and the atmospher .would aoon become very Boggy if it weren't dried out. Rain is the collection, or con densation, and precipitation of these moisture particle, consequently, the more it rain th less water there Is loft tn the atmosphere, or the drier the air becomes. And Blaek Is Walt Th second of Dr. Humphreys' par adoxes seems flatly to contradict the old aaylng whatever goes up must come down." However, a th writer expresses It, vertical circulation in the atmosphere is lonly gravitational action, consisting tn th sinking of lelallvely cod and therefore, dense air, and rising of warm and light air. Contracted air descends, expanded air ascends. Therefore, mass for mass, the volume of ascending air is always larger than that of descend ing. In terms of mass, also Dr, Humphreys says, descending air Is less than ascending, for air while rising contains immense quantities of water in suspension, which does not return to earth with that air but as rain, hall or snow. The air that rises from the land surface Is greater in mass by at least 20.000.000 ton per second, the measure or-world pre cipitation, than that which descend, he Bays. The third paradox Is merely a way of stating that the warmest part of the day la not at noon, when the sun Is at meridian or overhead and hould seemingly be pouring down greater heat, but aeveral hours later in th .afternoon. That is because the surface of the earth and the lowi er layer af air continue to absorb more heat from th upper layers for ome time after th latter have been receiving the maximum amount of heat radiation from the sun. Whll It Is not yet universally con ceded that th next pussier "th hot ter the aun, the colder the earth," real ly la true. Dr. Humphreys statea, the evidence in favor of It la already very strong. There ar several explana tions offered. The first Is that In creased radiation from th sun causes earth's air currents to flow more rap Idly, bringing down a greater quan tity of cooler air from high latitudes to lower. Ha reject this explana tion, however. Spot on the Son The temperature of the aun Itself varies and aun spots are eruptions caused by heat activity. It la known, he contlnuea, that earth's tempera ture varies with spot activity; that HUTTON & SCHREFFLER Rnlelgh, N. ('. ARCHITECTURAL ENGINEERS Consultant to Architect and Contractors. Design and Super vision of Warehouses, and Industrial Buildings. J. D. HIGHTOWER, C. P. A. AnSftlna- anal Coat Accounting, Conservative Income Tax Practice Rooms 1, 4, 5, 6, Real Estate and Trust Building TELEPHONE 1SS1. RUCKER & COMPANY Cotton Merchants GREENSBORO, NORTH CAROLINA MEMBERS New York Cotton Exchange New Orleans Cotton Exchange . -INSURANCE Automobile, Fire, Life, Accident, Health, Bond Fielding L. Fry and Company Wire new Inxatrd I1V4 lent nm Srrewt F. V. Fry, President. Phone 453 , Albert F. Steven. Adjusts Companies Reorganized and Financed E. P. WHARTON 406 Atheboro St. Telephone 1 Greensboro, N. C. 14 Requirement in Business SCOTT, CHARNLEY & COMPANY Audlts-aystema-Tai Service Oreenboro. N. C. Charlotte, D. H. XVEKETT. Resident Manager, 104 N. Kim 9 th more spots there ar on the sun, the cooler the earth temperature be comes, and vice versa. Alo that th sun's corona 1 In loaare measure only so much dust, must Interfere with passage of radiation through It. Hence: Hotter aun more spot; mora spots denser corona; denser corona less radiation received on th earth ana warmer climate ensues. Another explanation i the heat ab sorbing quality of ozone, which ex ists in greater quantity tn the upper air. He conclude that the denaer corona atop passage of soma percent of the ultra-violet rays, some of which acting on cold dry oxygen In the upper strata form ozone. In time of maximum spots there must, then, be less ozon. But ozone absorb a great amount of earth radiation, therefor if th earth ahouid be r- ' celvlng an increased amount of heat ' at this time It might nevertheless grow colder because of the coinci dent dpnlpHrtn tit Ih. hl..n...l.. ozone blanket. It is also aald that cirrus cloud or cirrus haze I more more generally prevalent In earth' atmosphere during spot activity, and this blanket of cloud shuts out om of the olar radiation. The reverae paradox thn. which la also found to be true, may be ac counted for in the same way. Sun' atmospher t clearer during th spot minimum and although there may ac tually he less heat oomlng from th sun a larg"er percentag Is allowed to reach th earth through th thinner blankets. How Light In Hint" The paradox of th sun rising be fore It Is actually up and setting aft er it actually ha gone down, la ex plained by the sending of light wave when passing through th air. A stick when placed' In "clear water seems to bend; a light ray whan Bent through the air doe actually bend. The rays from the rising aun are bent, when they trlk th air nvlope. This angle varies according to well known law, but on the average th light from the sun Is bent thirty-four and one-half second of dgr, o that the upper limb ot th sun when flrat seen la actually half a degree, below th horizon. A th angular diameter of either un. moon or star Is less than thl fraction. It follow that whan th sky la sufficiently dear the whol f either may b seen befor even It topmost portion Is geometrically abov th horlson. While the reverse la not absolutely correct astronomically, It 1 added, when aun. star or moon aet, becaus of the alight modification of refrac tion due to earth rotation, neverthe less the difference la exceedingly slight. Consequently, as th light raya ar bent upward by earth'a at mosphere, the sun has actually gone down before it is seen to set by a ter restrial observer. Spoon&Lewis Consulting Engineers American Rank Building nlgfcwnr Bridge Streets Waterworks, Sewer Development N. C. Columbia, a, O. street sWWWWWVWWVVV
Greensboro Daily News (Greensboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 2, 1922, edition 1
31
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