Newspapers / Wilmington Morning Star (Wilmington, … / Feb. 10, 1921, edition 1 / Page 11
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7. V THE MORNING STAR WILMINGTON, N. C, THURSDAY, FEBRUARY 10, 1921. ELEVEN frnTTON I ;CTnAc II II . Illll ' ' II v?.nV YOTlK. Feb. 9. Early declines rV followed by rallies in the cotton k.,t today but advances were not v maintained, with the market clos L'" ' steadv net 15 points to 7 points i,,"t Mav contracts sold up from 11 " ; io 11 a'l and closed at 14.14 com 1,..,(i with 14.12 at the close' of the !!'tvviou3 day. . , , : - , -: " ' markot opened barely steady : at wiine of 19 to 24 joints in .re s lower Liverpool cables and FI'0"" . oilino- orders from tVi Tli ere -was also some local or KiUltll- Vail ttvrt selling on an iaea tnat ,.vprinir moyement of the pre- ', dav had weakened the technical nnit Oil lilt rcii ij viktiiiio P , , ilorhed. however, and . the mar. i t ti'rned firmer during the middle of V; (1.1V t,a reports of an improved tone r'a'in and stocks and renewed cov "in.r there was very little pressure 'f - southern selling after the first half v.r ;n;i contracts seemed compara K. scarce until Mat touched 13.94 rt Julv 1L70 with active months "inr rally showing net advances of 17 ,n ii points. The market met realiz- ItlfT lt"Vr. vV- " - t'v bv less favorable reports from "Wall rlLt't with the elose showing reac ting of pome 20 to 27 points from the ti best. . mnl -day advance was " accom- nMiiieil by-reports iiiat n aneei. up trators were bullish on expectations tint the question of war reparations . 'i,i h, settled early next month. ,nd that next month would also show n improvement in domestic uusiness renditions. Private cables reported fontirued depression in Manchester luit runted prominent British.trade au thorities to the effect that the worst i,'f the trade slump had probably been seen Southern mills were reported iuiying small lots of cotton in the Carolinas. : Futures: High. Low. Close. Varrfi 13.94 13.45 13.71 Jlay July October- . . 11. OA lO.OJ ll.lt 14.70 14.22 14.50 14.93 14.54 14.82 NEW ORLEANS COTTON KV ORLEANS. Feb. 9. Higher rui in the cotton market today vere mainly due to covering of the short, interest, buying of this sort being stimulated on the opening by vesterdav's strength in the New York market "and afterwards by increasing evidence of the intention to reduce production in a drastic manner, vm- a while reports of a better spot .w.ian.l in Oklahoma had the effect of inrreasinc; the inquiry for contracts but later on there were telegrams from Texas claiming that farmers were lipllinsr at the advice and they caused ripfssions from the highest. t the best of the day the trading months were 41 to 49 points over the final prices of Monday with March up tn 13.50. Last prices showed net gains ,f 34 to 43 Doints with March at 13,43 While cables were very poor, they had but little effect on the market ana un. favorable January export returns on cloths and yarns from England caused nniva little selling aitriougn tney con limed recent private claims from Man chester of . very poor tra.de. Exports Cf cloths. tw-ere put at 249.400,000 yards against 414,snn,Miu in January last year 5f yarns i.:uu,uuu pounus .&a.iust Futures: High. Low. Close March 13.50 13.18 13.43 Mav .. 13.80 13.42 Julv , 14.05 13.69 October , . 14.33 14.02 13.70 13.95 14.29 DAILY COTTON TABLE - Tort Movement New Orleans Middling . 13.25; re .eints 531: sales 1.025: stock 433.518. Gadveston Middling 13.25; receipts 6.156; exports 3,909; sales 1,242; stock Jo.6f3. Mobile Middling 13.00; receipts 340; stock 23.225. Savannah Middling' 13.90; receipts 1,109; sales 458; stock 147.798. Charleston Receipts 261; stock 247,- 511.. Wilmington Middling 13.25; receipts o eiports 2,151; stock 20,396. Texas City Stock 4,043. Xorfolkf-Middling 14.00; receipts 549; Block 76.059. Baltimore Stock 3,238. Boston Middling 14.05; stock 11,700 Philadelphia Middling 14.30; stock 1,5-35. New York Middling 14.05; exports i'J; stock 108,802. Minor ports Stock 2,295. Total today Receipts 9,031; exports .J60; stock 1,440,613. Total for week Receipts 71,109; ex, ports 47,137. s Interior Movement Houston Middling 13.00; receipts mm; shipments 9,738; sales 2,868; stock 366,594. -Memphis Middling 14.00; receipts .mux; shipments 4,793; salea 1,300; siock 38.1,975. 'Aujrusta Middling 13.00; receipts m: shipments 472: sales 606; stock U3.168. M. Louis Middling 14.00; receipts '."1.5; shipments 2,623-; stock 26,523. Atlanta Middliner 12.90. Uttle Rock Middling 14.75; receipts -0; shipments 1,141; sales 125; stock "i.O-il. Dallas Middling 12.75; sales 4,092. -Montgomery Middline: 12.50. lotal today Receipts 15.105; ship- eius is,(ti7; stock 997,601. A NEW YORK COTTON (Special to The Star) Af YORK, Feb. 9. The undertone w today s, cotton market -ofas decidedly fro deRPite early weakness under the innuence of lower cables than due, t7 local Pressure since closing of ?f!. market. Judge Gary, head of the virh States-Steel corporation, is out "'in a statement that they have-no present intention of changing selling s,an(1 have not discussed or con laorod the possibility of cutting ihJl This decision on the part of .hnr.r?"1 important industrial head nou d i,e of far-reaching effect along ie lines of stabilization and the at- w 5r'wards labor an(1 its buying ' wer being maintained is significant, r. ,n stiitfiment should have effect in "wrkets tomorrow. ORVIS BROS. AND CO, 7 CHICAGO LIVESTOCK raiuICAf-;o- Feb- 9 Cattle: 'X Gen kii.rf st,ady on beef steers, common r,; tQP 9-?5; part load 9.85; stonb- -8,75: better grades butcher iou-A ?,-e,ady; others weak to 26c t Oii r -,ulk btcher cows and heifers 3 'nn bulk canners and cutters ,;J 9 4.00; beef and bologna bulls 3.50 "J 5.sn 10.00 .ff steady calves steady: bulk vealers tii.uo; stackers "and feeders - latlrfei:-?pened weak to 15c lower; vpr;r2lc- lower than yesterday'a bun e.f,:closed weak; top early 9.90; I, Pounds and . up- 8.758)9.fr; V.r,S8 192 Kwuuuo asu Ui s.ioa.uu, i'i i)C loww IxirahU inn i n Pounds mostly 9.2B(f5).7K. p.enpra? h?eeP lower than yesterday' 'on t , 'rade; fat sheep steady; lambs t)i, ,Ji.b'l k 8.3-009.50; top ewes 5.00; IinB "P.oO;- choice . 89-pound year-firVr,-V"a: bulk 5.75 6.50; two double-r-r'f and feeding lambs 7.60. ' LIBERTY BOKDS " s J-rt:-r $91.70 87.14 R6.4S ftls-, 90.0S NEW' YORK. Ph oVm, "L t0 fulfilled "in moderate thCnth.and Mtlvity. as indicated by thl flo? vus reb"ni which featured A1;hur of the Previous session. f n3r-S10' vlslble hange occurred lo.wt -faot?ra which have held . the ii " cnecK recently. -There was a ieeiine in speculative quarters, how- Z ' -. J- iecnnicai conditions tem porarily favored the long account. -Adoption of the Winslow bill by ti,? usf ' , ImPiying partial compensa tion Of Claima hv tho rillrnoJ,, ;,ifederal eovernment, failed to stim ulate more than an Intermittent in quiry for representative transportation Cumulative signs that the steel in dustry is on the verge of price re fajustment gave impetus to issues of tnat character, including the various railway equipments, but Hmprovement l?L tflose shares was variable and hes itant at best. v t rouP- oiia a.gain monopolized the bulk of speculative attention. rOOlS Were active In ficnsral AisnVinlt Mexican Petroleum and kindred shares', xuimt-i uownwara revision of prices for the raw and refined products evi dently interpreted as bullish. Highest reDOrts wm rAPnr,rIfrI In the final hour but the market reversed -its tiourse at the first indications of profit taking- in sucn issues as Crucible Steel and Mexican Petroleum, an easy tone rmmg in tne close. All of the day's call loans were made at 7 per cent, the lowest uniform rate in many weeks. Foreign ex change was confused, dealers renort ing little business save in. sterling and French francs. Liberty issues and the entire bond market eased variably on very smallest aeaungs, new offerings also reacting Sales (par value) $9,125,000 NEW YORK STOCK LIST High Low lClose 44 43 44 20 80. 30 123 123 123 45 43 45 46 45 45 83 83 83 57 57 57 42 42 42 92 89 92 80 79 79 99 99 99 67 66 66 39 38 3S 82 82 82 8 "1 64 62 63 90 88 88 34 34 34 57 56 66 116 116 116 40 40 40 71, 71 71 60 59 60 28 28 '28 27 27 27 23 23 23 22 22. 22 27 70 ... i.. 93 23 22 23 13 13 13 128 127 128 14 14 14 76 76 76- 35 35 89 35 35 35 52 52 52 15 15 15 19. 19 19 99 99 99 160 157 157 ... ... 1S 31 30 31 , 19 19 19 13 13 13 72 72 73 21 21 21 99 99 99. 85 84 84 3 3 3 76 74 74 40 40 40 30 2& 29 35 35 35 14 13. 14 84 82 82 67 55 66.' 60 59 60 21 21 - 21 6 6 6 11 11 11 40 40 40 24 23 23 61 51 51 80 78 78 22 22 22 58 58 58 109 109 109 58 57 57 8 8 8 43 42 43 24 23 23 54 53 53 9 9 9 120 1120 120 24 23 23 69 68 68 56 55 55 70 69 69 83 82 82 110 110 110 56 55 55 37 36 36 37 37 37 85 7 7 7 24 23 23 68 66 66 LAm. Beet Sugar . . . -fiiii. i,an ........... Am. Car and Fdry. . Am. Hide and L., pfd Am. Interna. Corp. . Am. Locomotive Am. Linseed ....... Am. Smelt, and Ref. Am. Sugar Am. Sumatra Tobacco Am. Tel. and Tel. Am. Woolen . . . . . . Anaconda Copper Atchison Atl. Coast Line . . . . b Atl., Gulf and West I. Baldwin Locomotive. Bait, and Ohio Bethlehem Steel "B" Canadian Pacific Central Leather Chandler Motors C. and O. C, Mil. and St. Paul . C, K. I. and Pac. Chino Copper ' Coca Cola Colo. Fuel and Iron b Corn Products ...... Crucible Steel ...... Cuba Cane Sugar . . . Erie .. ...... ... General Electric General Motors G. Northern, pfd. . . . Gulf States Steel Illinois Central ; . . .'b Inspiration Copper . . Int. Merj Marine, pfd. International Nickel Kennecott Copper . . . L. and N , Mexican Petroleum . Miami Copper b Midvale Steel Missouri Pacific Middle States Oil New York Central . . . N. Y.. N. H. and Hart. Norfolk and Western Northern Pacific Okla. Prod, and Ref. Pan-Am. Petroleum Pennsylvania . . Pitts, and' W. Va. . . Pure Oil Ray Con. Copper . . . Reading Repflron and Steel Royal Dutch, N. Y. . S.. Louis and S. Fran hoard Air Line . Seaboard Air Line, pfd Shell Trans, and xraa. Sinclair Oil and Ref. Sloss-Shef. S. and I. .. Southern Pacific , thprn Railway ... Southern Railway, pfd Std. Oil of xv. J., pia. Studebaker Corp. .. Tennessee Copper . . Texas Co v Texas and Pacific . Tobacco Products . Transconi Oil"- Union Pacific ...... U. S. Food Products U. S. Ihd. Alcohol . U. S. Retail Stores . U. S. Rubber U, S. Steel U. S. Steel, pfd. .... Utah Copper . . . . Vanadium Corp. viro-inia Caro. Chem. wactorn Union b Willys-Overland . . Invincible Oil ........ Gen. Asphalt . . Total sales, 488,400. NEW YORK BONDS U. S. 2s, registered .... U. S.' 2s, coupon ........ U. S. 4s, registered .... U. S. 4s.coupon i- k Qa rfccriRtered . ,b 99 99 b 103 b 103 J b 78 PanamS 3s, coupon D Am. Smelting and Refining 5s.. Am. Tel. and Tel. cv. 6s Atchison gen. 4s i ..... .. ; - Atlantic, Coast Line 1st 4s.. Baltimore and Ohio cv. 4s.... Bethlehem Steel ref. 5s v . . . . Central of Georgia Con. 5s b Central Leather 5a; o Chesapeake knd. Ohio cv. 5s.... Chicago, B. and Quincy joint 4s C Mil and St. P. cv. 4s...... Chicago, R. I. and Pac. By. ref. 4s City of Paris 6s .... Colo.' and Southern ref.-4s .b 78 77 75 78 78 69 84- 87 90 82 97 69 67 96 73 63 Denver ana tiio w 7" dominion ot Canada 5s (1931).. b 89 41 Erie gen. 4s. Illinois Central ref. 48 . . . . , Int. Mer. Marine. 6s Kansas City Southern ref. 5s.... Liggett and Myers 6s o Loufsville and Nashville un. 4s Mo., Kan. and Texas 1st 4s ...b Missouri Pac gen. 4 s New York Central deb. 6s Norfolk and Western cv. 6s.... Northern Pacifla 4s ........... Pennsylvania gen. 5s . Rip K nnd SteeV hs (iiio . St Louis and San Fran. adj. 6s . . Seaboard Air Line- adj. 6s Southern Bell Tel. fis -b Southern Pacific cV. 5s b Southern Railway 6s K Southern Railway gen. 4s. .... .b Texas and Pacific 1st . . 75 80 74 82 82- 5S 54 90 . 103 77 89 82 86 65 35 82 91 86 69 79 82 U K"of G. B. and L-6S (1937 , 86 ir?in!aeCar6o. '6; 93 TTo V.QcrTi" 1 Sf t 88 Wilson andVCo. cv.1 6s 85 SUGAR "AND COFFEE xttpiv vnRK.' 'Jj eD. . J.T.aw sugf flrm;, refined soft grades reduced,.! fine Lgranulated 6.85. ZZZr coffee auietf CHICAGO. Feb. 9. Disbaraerement of talk about crOD damaee from crreen bugs in the- southwest tended to make wheat prices today average lower. The market fluctuated rapidly and closed nervous at lc net decline to c ad vance. Corn lost to c: oats c to &e. and provisions 5c to 12c. Wheat Open. High. Low. Close. March. 1.60 L65 1.59 1.62 May ... 1.52, 1.55 .1.50 1.52 Oats May . . . July ... .44 44 67 .69 -43 -45 .68 .69 .43 .44 .66 43 .44 66 .68 Corn May . . . July . . . WILMINGTON MARKETS SPIRITS OF TURPENTINE N. D. ROSIN N. D. COTTON WILMINGTON SPOT $13.00. PRODUCE MARKET CORN $1.15 to $1.50. BEEF 10c to 15v VEAL 15c to 16c. v. - BACON (N. C.) Hams 40c; sides and shoulders, 30c to 33c. CAKE TALLOW 5 c. BEESWAX 25c. HIDES 3c. WOOL No market. HENS $ 1 to $1.25. LARGE FALL CHICKS 75c to 80c. SMALL SPRING CHICKS 35c to 50c, dull. EGGS Steady, 50c to 60c. BUTTER 35c. POTATOES $4.00 bag. SWEET POTATOES $1 to $1.25. CABBAGE $2.00 to $3.00 cwt. APPLES $6.00 to $7.60 bbL WILMINGTON PEANUT MARKET (Reported by J. S. Funchess & Co.) White Spanish, farmers' stock, new crop, primes, per bushel, 30 pounas. $1.10. North Carolina, iarraer stock, new crop, primes, per bushel, 28 pounds, 90c. Virginia Runners, farmers stocK, new crop. primes, per Dusnei. pounds, 88c Virginia Jumbos, farmers' stock, new crop, primes, per bushel, 22 pounds, $1.00. PETERSBURG PEANUT MARKET (Reported by Rodgers, Pluromer and Company, Inc.) SPANISH (Farmer's Stock) market quiet, 97eper bushel. VIRGINIAS (Farmer s Stock) market quiet. Fancy Jumbo 6c per lb.; extra prime 4c per lb.; prime 4c net lb.; shelling stock 3c to 4c per lb. DAILY COTTON TABLE (Furnished ly II. G. Latimer, Jr., 401 Southern III dp.) NEW ORLEANS, Feb. 9. Respond ing to the unexpected sharp advance in New York over yesterday's, local holi day, the market ruled higher today in the face of discouraging cables and unfavorable trade reports from Man chester. Covering- by shorts featured the ses sion, which was the case in the North ern market yesteTday where buying to cover 80,000 bales was reported, half or which was supposed to be credited to one operator. The improvement is attributed main ly to the recovery In foreign exchange, the active moves to disarmament, pass ing by the house of the railroad relief bills, persistent rumors of favorable developments from the direction of the new administration and a revival in the inquiry for cotton goods. Very little, attention was paid to cables from Liverpool reporting Man Chester trade growing worse, or to the following British trade report for the month of January. Exports of cloth yards, 249,000,000 against 414,800,000 last iyear. Exports, of yarn: pounds -7,200,0000 against 16,500,000 last yeai It is realized that trade in America is on the mend and gradually expand ing, especially in textiles, there is a shortage of goods and that mills hold small stocks of raw material. Consequently the belief is entertain ed that the demand for spot cotton in the south will soon become more ur gent, and that when it does develop, nigner prices will be witnessed. Within the next week or two, the allies are to arrange a peace confer ence with Turkey, and. it is probable that a satisfactory understanding will be reached, in which case the cotton market would likely be favorablly ef fected as the outlook for British trade with Turkey and India, Manchester's two largest markets will be made more favorable. .Memphis reports: During the past week mostly springlike temperatures with general rains over considerable portion,' of the belt, especially Arkansas and the Mississippi valley delayed farm work, although advices from south Texas denote progress, where some planting has started, ini.-j.he extreme southwest portions. Developments in the spot depart ment will probably continue to dom inate the market. Some little improve ment reported in the interior today. H. AND B. BEER. COTTON SEED OIL NEW YORK, Feb. 9. Cotton seed oil was lower under renewed liquida tion of March and scattered selling by locals and, the west on the heavy tqne of lard and set-backs in grains. Trade demand was poor all around. Closing bips were 19 to 15 points net lower. Sales 14,900 barrels. -Pitme crude 5.65; prime, summer yellow sot 7.45; March 7.72; May 8.26; July 8.55; all bid. DRY GOODS MARKET NEW YORK; Feb. 9. Cotton goods ruled auiet today in tne heavier qual ities in first 'hands. Print cloths were steadier on a basis of 7.304 cents' for 38-inch 64x60's, but yarns w,ere dull Some of the leading lines of wool knit underwear were opened for fall at about three-quarters aDOve tne. ore war' level, wh,ich is considered very low in the trade here. s - . JACKSONVILLE NAVAL STORES .- JACKSONVILLE, Fla., Feb. 9. Tur pentine unchanged; sales none; re ceipts zo; shipments o; siock zi,j.zu. Rosin unchanged; sales none; re ceipts 317; shipments 20; stock 167,650. Quote B, D, E, OjV G, H, I, K, M, N, WG, WW, 11.30. GREENVILLE AUTO SHOW (Special to The Star) GREENVILLE, S. C. Feb. 9. The Greenville Automobile Dealers associa tion at a meeting this week decided to lauch a booster tour in the Piedmont to advertise the Carolina automobile show that is to be a bl event nero March 16-20. Dealers from all parts of 'ithe Carolina will , be invited to exhibit models at this show, which is to be 'held in the magnificent $250,000 Textile halL' ' NEW BERN "GAS" 32 CENTS (Special to The Star) NEW ; BERN, Feb. v9 The price - of gasoline here' is now; 32 cents, ' retail, tho retailers giving the public the benefits of the - wholesaler's, drop of one' cent' on the gallon., Gas has . been selling here for; 33 . cents for auite: a whllo ' i i dBase VfiMVU V i VwM V The Government Stays In Rusfness The campaign slogan - last' fall of "Take 'the government out of business and put -business Into the 'government"' met- a bearty response in all piarts of the country, and there seemed to iJe a decided reaction against the wide spread regulation by- boards and com missions, which had been made' tempo rarily necessary by the exigencies of war. Nevertheless, events in "Washing ton seem to indicate that congress is, after all, in no- mood for separating the government from industry. Within the last six weeks it has revived the War Finance corporation by an over whelming vote after the measure had received the presidential veto. No board or commission nas 'been abolish ed or had, its powers curtailed. On the contrary, the senate has passed a so- caiied packers' bill, creating a live stock commission with jurisdictiont over every industry handling the prod ucts or byproducts of the, packing busi ness. Senator Calder is likewise en deavoring to extend government regu lation to the coal trade In all its branches. Regardless of the merits or demerits of . these various proposals, they at least show that there is no Im mediate prospect of the government's surrendering its. machinery for regu lating business. However much alert business men may desire to be freed from the trammels of orders by politi cal bodies, there is evidence that pop ular sentiment leans in the opposite direction. There is little doubt that many members of congress, In sup porting regulative, legislation, are vot ing against their individual judgments in deference to the wishes of a ma. jority of their constituents. Cheaper Fertilizers In Prosjpect - It is announced that the United States Potash Producers', association will send a representative before the house ways and means committee this week to urge the protection of domes tic potash from competition with the foreign product. There is no prospect of America supplying all its needs with the domestic product, and a duty sufficiently high to facilitate its com pensation with French and German potash will result in a heavy tax on farm products that will have "to be borne" 'by the consuming, public. The prices of fertilizer materials have been steadily declining in recent months, and are now very near the pre-war level. Potash, however, offers a con spicuous exception, the current quota tions bein- nearly double thqse of 1914, though considerably below the figure of a year ago. There are pros pects of the foreign product becoming much cheaper. Before the war Ger many had a monopoly of the potash in dustry, but that country now has a rival in France, which has acquired the deposits in Lorraine as a result of the conflict. Active competition be tween France and "Germany, combined witl the low exchange rates, should make this material much cheaper in the United States, and this will afford no little relief to, our . sorely pressed farmers. If congress, however, im poses a heavy duty On imported potash this advantage may be- lost. The ab normal price Of fertilizers in 1920 has something to do with the present em barrassment of grain and cotton growers. iwestor What Wan Predicted In 1917 . "When times return to normal there will come a readjustment which must, inevitably result in a decline in com modity prices, and in a" proportionate Increase in the purchasing power of money. It is evident, therefore, that every dollar conserved today will have a much greater purchasing power when this readjustment will have been ef fected." ' This is a conclusion withwhich every investor will agree. The interesting phase of this statement, however, is not the elemental truth it contains but the fact that it was made just a little over four years ago. It is a quotation from an advertisement of one of the important investment houses of Wall street. In January. 1917, the bond mar ket was at the peak of the last upward swing. From that time right down to May of last year the trend of bond prices was steadily downward. The house quoted spoke in all good faith, adding: "Remember that every 61,000 invested today may represent a pur chasing power of $1,500 when commod ity prices are ugain normal." Band Are Greater Bargains Now The statement is set down at this time, iot for the purpose of demon -startihg how predictions may go wrong but to emphasize the opportunity for picking up investment bargains today. It leads up- to the question: If $1,000 invested in January, 1917, was destined to represent a purchasing power of $1,500 on the return of normal condi tions what will be the normal purchas ing power of a $1,000 investment made today? According to Dun's index, commodity prices advanced 36 per cent from July, 1914, to January, 1917. That was the motive of this investment house's statement. But between 1917 and May, 1920, commodity . prices ad vanced 55 per cent, and on February 1, 1921, prices were 9 per cent above those of January, 1917. Wnat is-the relative position of bond j prices and commodity prices today? ,,,' ,V ' K77n - t While commodities were advancing 55tot?lled 1.X78,611.000. . This amount Is per cent, the average price of 40 repre- ust ut half a? l6 ,6S th floa" sentative bonds was declining 26.50 per debt' represented by .treasury cer- cent. 'Both these movements ended last ' ,l?ca ...,.,' Ttrnir. Todv. -with commodities &t fACopy right, lSZl.loy N.-T, Evening -"J wholesale only 9 per cent higher :ent higher than in January, 1917. bond nrices are still 21 per cent under the 1917 peak. The conclusion would be that current, bond prices do not reflect the rise " in:, the purchasing power of money.If it were not for the fact that the fall in com modities has Leen greater In wholesale than in retail markets. Then, : again, the question of interest rates must be considered. Part of the difference be tween percentage change in fcpmmod ity and bond prices is accounted for by the fact that-.the-rising rate for-money ?ietween 1917 and 1920 contributed to he decline in bond prices. .' It follows, therefore, that recovery in bond prices must hinge to a great extent on further ease in money rates. . Putting Idle Money to Work Idle money in a period i of - credit Merchant Prob lems and Current Trade Conditions Clothiers and tailors are shewing no little concern over 'the nfmtlnued indifference of men to the fine points of correct dressing, especially in th matter of formal wear. During tne war old clothes Taecame good form, and even in the spending orgy that followed extravagance was toy no means so pro nounced In male attire as in other di rections. Manual laborers did indeed show an unwonted fondness for silk shirts in fhe heyday of their prosper-ity,- but their aversion to the claw hammer coat was in no degree, miti gated by their greater spending power. Among salaried, professional, and busi ness men the ability to make Old suits last four or five years became a matter of congratulation, as witnesseth the acclaim that greeted Cal Ooolidgei when he proudly confessed that he had bought , no clothes since this country entered the war. Meanwhile, in army and navy circles, where sartorial smartness is always-) conspicuous, the dress uniform was made officially taboo. All these things have had a sinister effect on masculine taste in dress,' say the arbiters of men's fashions, who make loud lamentation over the growing repugnance to coat tails. They are insisting that the din ner jacket, or tuxedo, should never be worn when ladies are part of the com pany. They complain that the full dress suit Is being- worn with an ulster or something equally inappropriate, in stead of with a dress overcoat, and they are urging that something- be done to correct this degenerating taste among the sterner sex. Whether the matter will become a subject for con gressional investigation remains to be seen. It has fbeen suggested that since men refuse to become "Ijhe slavefe of fashion" the proper course is not to try to make them wear what they do not like, but to attempt to learn their preferences and cut the cloth accord ingly. Cheap Money a Remote Prospect The forecasts of low money rates with the turn of the year have been refuted by recent developments in the money market. Bankers now Jadmit that they see no signs of cheap money at a near date. Various reasons are assigned for the persistence of high money rates, but they all center around the one big fact that the world is short of liquid capital. It was burned up during the war, and we are now payina the pr'ce of its destruction. For a time promises to pay served as a kind of makeshift sulsstitute, but the amount of credit that could be built up In this way was limited, arid when the safe limit was passed, the pains of de flation began. The. demand' for capital is now abnormally. . great. American industries and railways need it in or der to -readjust themselves to the new conditions; exporters need it to finance new business; Europe needs it for its work of reconstruction. The demand for funds for speculative purposes, is now-subnormal; the Wgn rate acting as a deterrent. Whenever any lending power appears on the market it is quickly absorbed by famishing indus tries. Under such, conditions the . pre diction of cheaper money within the immediate future would appear to be a rasli proceeding. (Copyright, 1821, by N. Y. Evening Post, Inc.) jHis Present Opportunities and Problems stringency is just as great an eco nomic waste as idle labor in a period when there is work- f r all hands to perform. The treasurer department Is trying to convince workers that t is to the advantage of industry and therefore of labor in general, especially now' that there is sq much unemploy ment, to have every idle dollar put to work In the form of investment. The new thrift campaign has much good material ' to work on. It should not" be difficult, for instance, to show workers how a business revival is dependent on the credit situation and how an easier money position will be realized sooner if the supply of money is increased by. the investment of all idle capital. What goes into the sav ings banks is "doing its bit," but the treasury is going after the . millions of dollars which "are hidden away in sugar bowls, stockings, mattresses lost to use." Every investor and tax payer, no matter how large or small, is interested in the success f this latest drive to gather small amounts of capital into the treasury in return for savings certificates or for the smaller units thrift stamps and sav ings stamps. Will Aid the Bond Market Ev,ery, dollar invested . in these se curities reduces the need for treas ury borrowings from the banks oh tax or loan certificates or is deducted from the tax bill. Inasmuch as the general loan rate .is regulated to a great extent by the government's re quirements and the price it must pay to have those requirements filled, and, again, inasmuch as the recovery m investment security prices is regu lated by the general, price of money the relation between the . employment of idle money and the bond market is readily appreciated. The import ance of the government's thrift cam paign may: be realized .when it is re called that small; investments -in treasury saving securities between 1. ... TJ. Tnn - ; COSTLY FIRE IN NEW .' BERN BURNS FERTILIZER PLANT (Special to The Star) r ' NEW. BERN, Feb. 9. The . Phospho (Serin Manufacturing company was swept , by fire "' Monday night, damage being done to the extent of $25,000 in- the mixine section. Plans for the erec tion of a steel, fire-proof structure to J replace the loss are alreadv under wav.l replace the loss are already under -way, Officials arrived here Tuesday, morning, intending to-be' , present ."at the incep tion,1 of the day and. night hf t at1 fch.e plant " oniy: to find the . charred , ruins still glowing. .-and a, difficult duty be JEbre them. -The plant 'is -one of three J manufacturing - fertilizer from humus. the other plants -being at Richmond ami Ja .'FiSrid SUBURBAN TD3B WATER POWER COMPANY Wlwter Park. Seagate, Wrlgntrrllle, WrlcktsrUl Bf Intermediate Points Etfeettve Thvrsday. October T, 1929. Leave Wllmlnfftoa For -Wrlshtaville i6:50 A.M. 7:20 A. M. f 8:00 A M. 8:30 A. M. X 9:30 A. M. 10:00 , A. M. 11:30 - A. M. 1:05 P. M. 200 P. M. 2:30 P. M. 8:00 P. M. 8:80 P. M. t 4:00 P. M. 4:30 P. M. 8:00 P. IS. 6:30 P. M. 6:10 P. M. 6:40 P. M. 7:1 P. M. 8:15 P. M. :16 p. M. 10:15 P. M. 11:15 P. M. Leave Wilmington For Beach 6:50 A, M. 7:20 A. M. 8:50 A. M. X 9:30 A M. 10:00 11:30 A. M. A. M. P. M. P. M. 1:05 2:00 2:80 P. M. 8:00 P. M. 8:80 P. M. 4.-00 P. U. 4:30 ' P. M. 8.-00 P. M. 8:80 P. M. 0:10 P. M. :40 P. M. 7:15 p. M. 8:16 P. M. 8:15 P. M. f 11:15 P. M. , DAILY KXCEPT hi) DAY, FROM STATION No. 1. . ThlB oar connects at Wrightsvill on special reauest to transport tation offlca. Phone No. 2701. TJThis car will go through, to beach on .special request to transports tion office. Daily except Sunday. j ! f Saturdays and Sundays only. Sundays only. V Freight Schedule Daily Except Sunday, Leave Ninth and Orange streets 8:00 P. It Freight Depot open daily except Sundays frorn 1:00 to 8:00 P. M. STATE SECUEITIES CX)MPANYj INVESTMENT BANKERS 7 STOCKS BONDS R. L. HENLEY, President 903 Murcbison Bank Building Telephone 290 STOCKS and BONDS COTTON, GRAIN AND PROVISIONS H. 6. Latimer, Jr. . Member New Orteana Cotton SBxehamg - Direct private wires to New Orleans, New York, Chicago and all principal points. Orders solicited for future delivery in Cotton. Grain, Provisions, ' Cottonseed Oil, Coffee and Sugar. Securities bought and sold for cash, or carried on conservative margin. Correspondent, H. and B. Beor, 401 SOUTHERN BTJILDINO New Orleans, La. PHONE 23s .' . - 1 New Washington Butter Beans Paris Succotash Tomato Herring Kippered Herring Del. Monte Beets Del Monte Pimentos Southport Shrimp "The Best Is Still the Cheapest" The Grocers' Specialty Company 17 Market St. Phone No. 65 STAR DRT CLEANING CO 114 Prlaaena Dry clean ere and prejaera rreaeli style. Paua Beach and KooLAUoth a ffeclalty PHOJH 44M Carbons Ribhons MISS McLAURLN PUBLIC STENOGRAPHER NOTARY PUBLIC Hotel Wilmington Telephone 927 W. Munroe AND COMPANY FURFITURE 1 S. Front St. Year lttoaey'e-Worth Alwaye Arrival ' and Departure of Train WILMINGTON, N C. ATLANTIC COAST LINE . Effective February 6, 1921 ' All Trains Daily When Not Depart. Otherwise vDesignated. Arrive. 3:40 A.M. . Raleigh - & North . 1 :20 A.M. Sleeper to Raleigh open 10J00P. M. 580 A.M.: . SoUtti'& West, j .12:10 A.M. Sleeper to Columbia open 10:00 -P.M. " T:45 A.1L .North. .... .6:05 - PJtt. . Parlpr Car to Norfolk , 8:30 A.M.....FayettevHle;:..:00 P.M. i 3:00 P.M.. .'. . . New Bern. .. . .1?:S0 P.M. Si:30 P.M.. ...South West.. :i,:00 P.M. Sleepers to CoL; Augusta, Atlanta t30 -P.M. ' . .FayetteVillei . tlliOfi A.M. J3i30 ' P.M...,;Southport.....l:00 PJM. 7:0Q P.M.. .i . . Nbrth, . . ... ri9;. A.M. Sleepers to Washington and -Norfolk itDally, except; Sunday, v Arrlres 9:45 'mT-SisifuriJays..' ; .. . "- . Daily "to -Raleigh. iut doeSnot run north bt "Goldsboro on. Sundays, tesy8j'Thursdays-and Saturdays. For Information Phone 109 " SE43OAlU) AIKltKE , , Eifectivf November 38, 1929 , Depart - .' " Daily f Arrive 4 :Z0 .A.M.'. . iCharlotte . ... . .12 0 ; A.M. Sleeper-.to "' Charlotte open -10 sp. M. 8:00-A.M...Wil. to Ruth'ton. .5:40 P,M. 3:40 P.M. ' v P.M. -i Parlor Car to Charlotte i For: iaf erntaOophono lis y. "SCHEDULE ie ana Leave Beach Ve Wllminirton Leave Wrlarhtaville Co Wilmington 1 -86:00 V 16:35 s 7:05 - 7:85 A. A. A. M. M. 6:i0 A. M. 1 6:50 A. M. f 7:20 A. M. ' 7:50 A. M. . 8:30 A. iL 9:25 A. U. ' $10:25 A. M. 10:55 A. M-. 12:25 P. M. 1:55 P. M. 2:55 P. M. 8:8C P. M. 8:66 P. M. . 4:26 P. M. t 4:65 P. li 6:25 P. In. 6:56 P. M. 6:85 P. M. 7:05 P. M. 7:85 P. 2d. 8:05 P. M. 5:46 P. M, 6:46 P. M. 10:46 P. M. 111:46 P. M, 9:15 A. M. 10:15 a. M. 10:45 A. M. 12:15 P. M. l;45 P. M. 2:45 P. 5. 8:15 P. M. 8:45 P. M. 4U6 P. M. f 4:45 P. fit. 6:15 AX' 5:45 P. M. 0:25 P. M. 6:55 P. M. 7:25 P. M. 7:56 P. M. 8:30 P. M. 9:80 P; M. INVESTMENT SECURITIES What Do Yon Think Of This T v AN IVER-JOHNSON BICYCLE x For Your Boy or Girlt y QUEEN CITY CYCLE CO, 209 Market Street TELEPHONE 863 Your Boy Wants A CROVN MOTO-BIl! Cash or Weekly Payments Wilmington Cycle Co. 215 Market Street Phone 526 FOR SALE 200 sacks Portland ce . ment, per Back ... . . SI. 00 60 sacks builders' lime, rflfl. per bag , (QUO Two second-hand Elevators, about 1,500-pound capacity, for less , than one-third of their cost. Plenty of Burt Seed Oats and Seed Eye ' . P. L. GORE COMPANY Wilmington, N. C. COAL THAT IS ALL COAL TRY USI Becker Coal and Builders' Supply Company- . Telephone Castle, Q,ncen and Surry Streets W. L. DOUGLAS l.&IVI. t. Hufwitz o 605 North Fourth St. ' W. L. DOUGLAS - fiiti 1 ,-...,.'. i .. -. i . " . - .. ill i- i il il Hp t i' ! 97. 1U Santos 4s 954 010. -..-.-'-
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 10, 1921, edition 1
11
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