Newspapers / Wilmington Morning Star (Wilmington, … / Feb. 21, 1921, edition 1 / Page 2
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ft ..J . ) ' TWO THE MORNING STAR, WILMINGTON, N. C. , MONDAY, FEBRUARY 21, 1921. a- , t- . MARKETS IPOt I' i S .5'.' j. H- !??.. -ft HM If . it I- 4 '4 i .1 TENTATIVE PLANS FOR EAST CAROLINA CLUBS Another League Meeting - Is Scheduled for New Bern on the 25th of February NEW YORK. Feb. 20. On a slightly 'larger an-a more varied scale of opera tion the financial market last week pasrd through another' period of in decision in which the course cf prices tended unmistakably downward Additional deflation of the principal commodities, more definite signs of of wage contraction and the smaller earn ings of transportation lines, played their further parts in the further de preciation of securities. Latest surveys by qualified author ities confirm the general impression KINSTON, Feb. 20. The following tentative resolutions are to govern the organization of the new Eastern Caro lina Baseball league, first formal steps for the formation of which were taken nere Thursday nisht. Each club must bear it own ex penses abroad, and vill be entitled to s.ll gate receipts at home. The pro poKod league will be composed of six Clubs. "Unorganized" baseball is deemed suitable, with amateur, college and other independent players "pre ferred. The playing season will consist of 72 cames, exclusive of post-season sanies, with a split season and two chances at the pennant. Clubs must post $500 forfeits against failure to finish the season. Clubs should be thoroughly organized by February 25, when an other league meeting will be held at New Bern. Chances for baseball in this section this year are the brightest in many as a result of the enthusiastic session here which was attended by 11 delegates from New Bern. 12 from "Washington, six from Greenville, one from Wilming ton and seven from Kinston. Golds boro' is being urged to sisn up. and an answer from the fans there is ex pected to be bad before the first of next week. Should Goldsboro fail to come in it is probable that the league will be reduced to four cluhs by the elimination of Wilmington. . the railroad fare spent in making the jump from other points to Wilmington to equalize things. . There is no room for argument as to the drawinar possibilities of the six cities mentioned for membership, t busines a readjustment. ' extension Either of the smaller ones may come up to Wilmington's attendance mark if they have a team away out in front and Wilmington admits a tail ender. but otherwise, it will be Wilmington that will hav to fear for the continu ance Of the league. The posting of ! th.at. financial, commercial and indus- forfeits of ?500 by each club will in sure them sticking, it is believed, and that is one point on which representa tives from five towns present at Kin ston Thursday night are unanimous. With ths impediments and hin drances mentioned above ..eliminated, "Wilmington is not yet in the le&g-ue, however. The canvassing committees haven't yet made a report to the ways and means committee as to the amount of stock sold, but it is what is known in classical circles as a mortal lock that no start is going to be made on a sum of money lees than will insure the club to last throughout the season. It may become necessary to do some deep and quick- digging' during the week, so as to permit the club to go through with its plans. The plans. It is known, required a bank roll of $10,-000. Interest in baseball increased con siderably during the past week in Wil mington by reason of the tentative or ganisation of the Eastern Carolina league at Kinston Thursday night and the prospects for Wilmington being one of the six clubs ready to talk tur key when the final organization meet ing is held at New Bern next Friday night. Wilmington will be represented at the New Bern meeting by a big del egation and a determined effort will be made to get a franchise in the pro posed loop. There is a possibility, however, that isn't going to listen real good to local fans, and it is mentioned in an edito rial in the New Bern Sun -Journal of Friday morning. "Baseball stock took a material Jump last night at Kinsfn, when representatives from Wilming ton, jsew Bern. Washington and Green ville assembled for a discussion of the possibilities for the formation of an Eastern North Carolina association, With these five, and possibly Goldsboro. as a six-club league, or the elimination of Wilmington, which is farthest away, if Goldsboro drops out, leaving a four club league." says the New Bern pa per. It goes without saying that the pres ence of Wilmington in the league wMl materially strengthen the circuit and prevent it from, being a "firecracker" circuit. A baseball club will draw well here, especially during the week enrls, when thousands of visitors are here to avail themselves of the attractions the city and environs offer. True, the railroad mileage from the next nearest point; about 86 miles, is quite an item, but Wilmington will be willing, it is believed by many fans, to award earn visiting club a percentage of the gate receipts or else refund them a part of "I think they are making a mistake by continually heralding the fact that such-and-such a wrestling bout is go ing to be. a rough one; that some wrestler is noted for his rough house tactics," said one citizen yesterday In discussing the Hanson-fetro match at the Academy Friday night. It so hap pened that the match had been touted to the four winds as a hard boiled, one, only to have the actual battle prove one of the cleanest ever. staged In Wil mington. Both wrestlers exerted themselves to gain the verdict, and the superior strength of the Qreek prevailed. But what the cltien was talking about was that rough stuff killed the goose that gave forth the golden egg people really don't car? for it and would rather see just such a match as resulted than the unshaven neck variety. trial movements are slowly progress ing toward normal condition, but in conservative banking circles the dom inant note is one of extreme caution. Heaviness of oil. steel and kindred shares was of a piece with the more obvious conditions in those industries. Indications of an open market for fab ircated steel subsided, the recent cuts iy independent producers, evidently having failed to stimulate increased demand. . . , Special stocks, particularly shippings, motor and leather shares, suffered se verely at the hands of professional shorts, whose operations plainly de noted that unfavorable developments affecting the financial status of these issues are impending. investors, ana others having less claim on the money -market, viewed with indifference the comparative ease of call money, while merchants and holders of gilt-edged collateral were unable to negotiate loans be yond the shorter maturities.' British, French and other important remittances were governed to an un wonted extent by the many shifts and changes reported in connection with approaching conference between the allies and their former enemies in London. Stabilising influences were contributed by the Chilean $24,000,000 loan and a proposed underwriting for Sao t'aulo, Brazil, by a group of Brit ish, Dutch and American bankers. COTTOtf GOODS MARKET REVIEW The Piedmont league and North Car olina happen to be getting quite a lot of publicity over the law recently passed by the general assembly mak ing it a felony to "throw" or bet n baseball games. The law as passed was written by William G. Bramham, president of the Piedmont league. North Carolina wag the first state In the union to pass such a law. "They have old-fashioned ideas dealing with crooks in the south," was the com ment one eastern newspaper made on North Carolina's action. EW BERN CLUB HAS ABOUT COMPLETED SALE OF STOCK (Special to The Star) : NEW BERN, Feb. 20. The sale of $5,000 baseball stock in the local ciub has been completed here, practically, Dr. Earl S. Sloan, wealthy resident of this city, who resides , at his winter home on the Trent river near the new New Bern country club, noted for his .liniment of the same name, made a substantial contribution to The stock sale, although he will be in Boston before the season gets started: and joined the feelings of every resident when he said: I trust you will be suc cessful . In securing the necessary finances' because the proposition sounds good, it will mean a great deal to the town if organized baseball can be se cured. Before the end of the week the com plete issue of stock will have been taken up. all those "engaged In can vassing assert. WEEKLY FINANCIAL OUTLOOK II By STUART P. WEST (Special Correspondent of The Star. Copyright, 1921.) NEW YORK. Feb. 20. In all the . markets the price movement during the past week has been extremely ir- . regular. It has reflected much confu sion of opinion over the general busi ness and financial outlook, but has no : way diminished the underlying feel ing of confidence that the real turn for the better came at the beginning of the year, and that the present is sim ply a waiting period with the chances favoring an increasing degree of trade recovery later on. ' There is much difference between the v forecasts of when this recovery may be looked for. It hag already set In in certain lines, while in others It is evidently still some distance off. Re ports of the steel companies will be very bad from the first quarter and i probably for the second quarter. The . Independents are certainly lowering money in their effort to get business . oy torcine; meir products below the , level maintained by the steel corpora- lions. They are bound to have deficits . for, the first three months and quite . likely for the first six months of the . year. The steel corporation is operat , ing at considerably reduced capacity, compared with two months ago, and r this will show in its earnings for the first half 6f 1921. In the automobile and allied trades a false Impression was given by the re-opening in the ; latter part of January of plants which had been closed down in December. It is still far from clear that this was the beginning of a real revival. For the railroads, too. the interval from the first 6f January to the firs t xt April ts certain to be one of very poor " traffic statements. Failure to pay ex penses and cover fixed charges will prove to have been the quite Qommon experience when the January figures : are made public and while the show ing may not be as bad for February and March, it is certain to be unfa vorable. Security Market The security markets have these ad verse things to look forward to. They also will have to contend against more depressing reports for last year of the type which have been appearing dur ing the. last few weeks and which have told against the selling prices of indi viduals to check. It Is, therefore, dif ficult 6 see any ground in the near future, for a general sustalnirt-r ad-" vance fn the share list. Rather it v look as If tytrk might be further un settlement In special issues of the sort that ha become familiar In the trad ing -of the It fortnight. But If the market ha to t a?' k god d&i yet that Is Unpleasant in thtftAy of trade news and earning atatetnents, it will ais6 hav much that la ancouraging to buoy it up. Trier i u doubt for one thing that eatidltlons in the New England - txtll:ntll r rapidly getting back to Jnortnal. that th cut-in prtcet is tjjnuiating .new business ,on . a large enough seal to keep operations up in - many cases to capacity. -There is no dot; too, that the retail and distributive--trade is in batte'r.ihape than it wag tiro moaths ago, that high priced goads liavv bstrr forked : oil and the shelves cleared for new buying of oil prices since the middle of January have been radical enough to readjust t!!elI?dUtry completely to the new conditions of general business. All the tobacco concerns are flourishing and their current earning statements arc snowing it. i' Sum.,n P the Wall atreet position in relation to outside trade, the mar ket ig a carefully discriminating one 3as ea8ed to move ln any broad E,t ' er or tlOW71 Tt 18 mark ing time while the outside situation is developing. But with stocks of com panies, which are doing a good busi ness or Which, having completed their adjustment, are on trie upgrade the tendency is toward higher prices. Con versely other stocks in a less favorable P f t,0,??'m ,ther be l6t alone or quite likely will work lower. The Investment Section Investments are; working out pre cisely on the lines expected. Syndi cates bringing out new canital Is,,. nave temporarily overdone things it was discovered a fortnight ago that most of the declared over-subscriptions reJe?5 real over-ubscriptIons at all and that a great part of the applica tions came from dealers who were fn7lftnnXi?M make a quick turn and get out. The market for these HZ?'?" flnft,,y became con. gested and a resting spell was nec essary to allow; a better distribution to the ultimate investor. The competition of the 1550,000,000 of new bonds anS note, put out since the beginning of the year was keenly enough felt in the regular bond Mst to check the rise! a ,e ai0llt a reaction. Altogether the increase in the invest ment supply has been too great for de- nt ,. ke.t? Pace wlth anl while Jl!f .1 ?othin8 rious in this situa tion it does- call for a suspension of syndicate undertakings for the time being and for less haste- on the part of the investment buyer for fear that pSrSSty.6 mlMinsr an ePtional op- Foreign Exchange The sharp reduction in the foreign exchange toward the close of the week iL8 wfT1 t the decision of the British treasury to. begin prepara. nArpayine lnterMt on its Amer ican debt and partly it i analysed as ih,ie5U?1-..tV,": 8PCulative movement which had been pushed too vigorously In no wise does the downward turn reflect upon the causes which have underlain : the improvement in the ex change markets since ths close of De cember it sti remains true that the Brtlsh foreign trade is -steadily com ing back to normal, that other Euro pean countries are cutting down their imports and in some cases increasing their exports, and that' if th all-important ; Gennati : reparations question can be settled the, international busi ness outlook will appear altogether cheerful. This has been .the main basis for the recent advance in ; the ex changes and: it has; uot-been w'aknd by the latest developments. The motortruck, is replaced by - the camel ; for gefcerri -hauling , Un -Aia Minor. - NEW YORK. Feb. 20. Cotton goods in the unfinished department have be come weak. The demand is light and has unusually small lots for nearby delivery. Sheetings have weakened rather more than, vother lines in con sequence of the pressure to sell some of the accumulated stocks of goods wanted In the bag trades or for gen eral manufacturing purposes. Jobbers continue to operate on branded brown sheetings ln a steady way but are not anticipating for any late delivery. Print cloths are quiet, with weaken ing most noticeable in narrow goods or 'n the finer counts. Fine combed yarn goods have become very quiet in unfinished lines. Finished goods con tinue moving steadily in small lots for prompt shipment and all goods on Order are being accepted without question. Sheets and pillow cases are exceptionally well conditioned, and ginghams are also well under orders. Denims and working suit materials generally are now beinc: reordered moderately. There is a steady jobbing distribution reported in white goods, wash fabric, laces, handkerchiefs, rem nants and some of the staple special ties in cotton suitings. ' Cotton yarns are lower. Owing to the closer margin of profit and the slow ordering ahead, many mills are again talking- of cur tailing production, their chief difficulty being one of reducing costs to mieet the low prices at which goods are selling. Prices are: print cloths, 2S inch 64x 648. 5; 64x60s, 5a; 38 inch 64x64s, $Hc; brown sheetings southern stan dards. llic; tickings, 8 oz., 20c; den inv 2.20s. 15c; staple ginghams, 13fcc: dress ginghams, 16c and 17c; staple print, 11c. LUCKYSTSiBECE cigarette, flavor is sealed in by toasting NEW ORLEANS COTTON REVIEW NEW ORLEANS, Feb. 20. The trend was lower, in a moderate way, in the cotton market last week, mainly be cause of anticipations of large March tenders during the coming week. Claims of better business in Man chester caused an advancing tenden cy in the early sessions of the week, the advance culminating on Wednes day. After that prices sagged, March reached 13.90 at its best and fell oft to 12.75 at its lowest. This was the closing price. At the highest the mar ket showed net .gains of the week of 60 to 67 points and at its lowest net losses of 38 to 61 points, finally clos ing 32 to 51 points net lower. In the spot department middling lost 25 points in the net results, closing at 12.75. A year ago this week middline closed a.t 19.75. The early trading of next week is bound to be strongly influenced by the way opinion shapes up regarding the quantities of tenders to be ex pected. The situation will be com plicated by the fact that Tuesday will be a holiday in observance of the birth of Washing-ton. In the Orleans markets very laro-e Unri.r. will not be possible, because of th certificated stock here, which is only 16,611 bales. y When the excitement attend ine- tho maturing of the new spot month sub- maes, n is nicely that atention wm be turned to the weather conditi on nra. vailing over the belt and the probable outcome of the campaign to reduce acreage. Recent plowing: has mad good headway but was eheeirArt hv rains and snow at the enrf nt week. From now on weather con ditions will increase, in Imnnrtini.. Recent returns from the interior have claimed acreage decreases rang ing from 35 to 70. per cent. MAKE PONZI'S LUCKY PATRONS PAY BACK MONEY THEY GOT BOSTON. Feb. 20. T mlllfnn. tv,, Charles Popzi paid out in order to es tablish the confidence that would keep more millions coming in to his" quick rich scheme, are to te reclaimed by his trustees in bankruptcy. - The trua ees today announced that" thev in tended to" go to the cours to compel restitution by every person who' re ceived money . frbm Ponzi whether in payment of matured notes for principal and interest at 50 per cent or On re funds on Investments the soundness of which they had begun to doubt. With the assets' now in hand, the money thus regained and other sums will be pooled under the trustees' plan and out of the combined fund those who had dealings with. Ponzi will ob tain their proportionate share- on the basis of original deposits. The trus tees said that Ponzi patd out $5,000,000 in refunds in a week or ten days prior to his failure last August. SMALLPOX APPEARS AMONG THE NEGROES 0$ NEW BERN NEW BERN, Feb. 20.-With 25 cases of smallpox among the negro residents of this city and the .prospects of the disease ; spreading unless proper pre cautions are taken -at once, Dr. J. S. Mitchum, state epidemiologist, follow ing Interviews with local physicians and investigations of schools, strongly advocates the employment, of a full time health department. With the fur ther disclosure that fullv -75 per cent of the school children are not vaccina ted, action will be taken at once. In apite of the fact that the county 1 sadly In n&ed Of funds, ths movement 1s looked upon favorably hers. - STATE OF NORTH CABOUJA, NEW HANOVER COUNTY. By virtue cf, and in pursuance of the provisions of a certain mortgage deed made and executed by George T. John son and wife, 1. O. Jonnson. to M. J. Corbett, dated the 12th day of March, iA. D. 1919, and-recorusa tn tne office- Of Register of Deeds of New Hanowr County, in Book No. 103 at page 410, of the records of said office, default having been made in the payment of some of the maturing promissory notes and in the payment of the interest on said notes, according to the tenor and effect thereof, wherein and whereby under the provisions of the said mort gage, each and all of the outstanding and unpaid promissory notes should at once become due and payable, and the property described in said mortgage should be sold by the said mortgage; Ana whereas, default has been made in the payment of the maturing promis sory notes, as in said mortgage pro- viaea, and tho right of the mortgagee to foreclose has become absolute. Therefore, the undersigned ymort- gagee hereby gives notice that he will on Monday, the 14th day of March, A. D. 1921, at twelve o'clock M. on said date, at the front Court House door of New Hanover County, in the City of Wilmington, expose for sale, by public auction, for cash to tha highest bidder. all the following described interest in r3al estate aud the following described personal property, to wit: First: All that certain leased hold ! estate which was conveyed by George P. Ganzer to 'George T. Johnson tad D. L. Latta, partners trading as Globe Baking Company, by lease dulr re corded in the office of the Register of Deeds of New Hanover County in Book 74, at page 610, eit,., and by the sid Johnson and iLatta to the Globe Baking Company, i.Corporation), by in strument in writing bearing date the 12th, day of December, A. D. 1914. and duly recorded in the office of Register of Deeds of New Hanover County, and by the said Globe Baking Company, (Corporation), to th Wilmington Sav ings and Trust Company, trustee, by deed of trust duly recorded in the office of the Register of Deeds of New Han over Couiy, and by the said Wilming ton Savings and Trust Company, trus tee, to M. J. Corbett by instrument in writing bearing- date of ihe 10th day of March, A. D. 1819, and duly re corded in the office of the Kegister of Deeds of Mew Hanover County, in aook 1U3, at page ,259. Together with, all th, rights, pow ers and privileges granted in the said papers or either or any of them and subject to the Hmitawon and condi tions set forth in said 'ease from the said Ganzer to the said Johnson and Latta the Intent and purpose of this instrument being to convey to the party of thejfecond part all the rights, pbwers, pjovlleges, property, estate and interest ill the property conveyed by the said lease and also. Second: All the rijfht, title and in terest of the Globe Baking Company in and to all the buildings and structures on the property mentioned in said lease and commonly known as the Ganzer property. Third: All machinery, tools, personal property of every nature and kind on said premises belonging to the Globe Baking Company which were by the said Globe Baking Company conveyed to the Wilmington Savinfrs and Trust Company by the deed of trust herein before referred to, as well as all prop erty thereafter acquired, by the said Globe Baking Company which were by said trust deed conveyed to the Wil mington Savings and Trust Company, trustee, and by it conveyed to M. J. LCorbett, including three ovens, one cake oven, one doujth divider, one rounder, one automatic prooferr one sifting outfit, one dough mixer, with automatic flourer and scaler, seven steel troughs, 32 bread pan racks, two cake machines, pan racks, pie racks, bread cases, shipping baskets, two iron safes, four cases Silent Salesman, office supplies and fixtures and any other property conveyed and. transferred Dy the said deed 6f trust and now in ex istence and not particularly enumer ated above,, all of which was conveyed by the party of the second part to the said George T. Johnson by instrument in writing bearins: this date. Also all improvements, additions, and replace ments which the said George T. John son may make to said property, as well as all other like articles which he may hereafter acquire during the existence or tms mortgage, and the said George I T. Johnson hereby stipulates and agrees to replace any of the property herein mentioned which may be worn out in ' Its use with other like articles, which ' when aoquired shall be conveyer' here- t by as security for the payment of the notes herein mentioned. Terms f sale M. J. CORBETT. Mortgagee. Spring C0ats arid Dresses ; : AT - imB II JfiLlLlF (a. Off MONDAY ONLY CHARMING CHIC MODELS, IN TRICOLETTE, TKICOTINE AND OTHER FABRICS, at . . . LADIES SILK UNDERWEAR, from $7.50 T0 $35.00 , $2.25 TO $5.00 M anufacturers Sales Co. 316 North Front Street Hotel Wilmington Sample Rooms "Those Who Know Merchandise Never Question Our Styles and Prices" Back Ache Limber Up With Penetrating Hamlin' Wizard OH For Lame Back, Sideache, Shoal " der Pam? Stiff Neck, etc, use Ham lin's Wizard Qil. It penetrate quickly, eases the pain and drives out the soreness. Keep it in the house. Wizard Oil is a good dependable preparation to have in the medicine chest for first aid when the doctor may be far away. You have no idea how useful it will be found in cases of every day ailment or mis hap, when there is need of an im mediate healing, antiseptic applica tion, as in cases of sprains, bruises, cuts, burns, bites and stingn. Generous size bottle 3 Be. It you are troubled with constipation or tick headache try Hamlin's Wizard Liver Whips. Just pleasant littl pink pills at drurrtsts tor Sc Announcing the ImproTed Remington Typewriter' Trr the Touch" The moat tmportamt AdTaacement la Typewriter Construction since Typewriters were made visible Eleven Distinct Improvements We would be pleased to demon strnte ut rone office Remington Typewriter Company 13 Garrell Bid;. Telephone 878 T" Have you thought of the dancer ft driving; with out complete li ability protection? Telephone us and we will cover you. JAMBS A JAMES Telephone 607-163 I A I lit Telephones 122-123 CORNER kCOMDfcDCCKStftV You carefully select your Doctor Why not your Drusgfat t He'a your last check to the mouth "DEPENDABLE DRUG STORE" 117 M. Front St. Phonea 181-182 ONION SETS Just received several hundred crates Red, Yellow and White Leon ard's Onion Sets. They are the beat ever. Phone us your ordera. Bear Prodrace and Merchan dise Company (Wholesale Only) Cor. Nutt and Grace Streets Phonea 452453 Cash. No Soap Better j For Your Skin Than Cuticura ffi Get thrtce-telly bcosflt from 11 j tbls low-cost aid to $11 i appetite and dl&estioo III It keeps teetbehtte SIB breath aszet Vm and throat hJ Y desr ijfj . Makes your Mf v smokes hjB r NJmX taste GIVE YOUR lii , A TBEATMEAT II PROVED EFFECTIVE BY A FIFTY YEARS TRIAL 12 VJ Tl mot widely used remftdy In the worm io overcome the stagnating enecisoi catarrn. Catarrh M suent ana insidious is its ravages, invades nearly every Household and hover like a petti. knoa every where. FOR CATARRH AJ3 CATARRHAL 0KSmON3 It strikes at the root of ca tarrhal troubles by sttarolatinff ' the diseation. aorichiax the blood. toains; up tha nervous svstem and toothing; the raw and inflamed maeon membranes. Pe-ru-na sets every organ to WOrfcinar aronerhr and irliuia ad UOD tO th whnU hutw J. A in.- thousands of othart, learn what it meant to be well. 801.0 EVERYWHERE TABLETS OR LIQUID , A TBEATMEAT We tie a can to the tall of trouble when your car is W At Oar Service Station There la at Your Dtapol a COMPLETELY EQtlPI'KD SHOP, SPECIALIZED MECHAMC. GEXUI2VE FORD PARTS, STANDARD LABOR CHARGES Jones Motor Sales Co. 225 Market Street GAS i OILS i FREE AIR Telephones 725-780 I WATER J.BMcCABF.&CO. Established ma CERTIFIED PUBLIC ACCOUNTANTS F. O. Box 134 0T HarchUon Bailors , WTLKTlvOTVltlV. w. c );:
Wilmington Morning Star (Wilmington, N.C.)
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Feb. 21, 1921, edition 1
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