4
GREENSBORO DAILY NEWS, THURSDAY, NOVEMBER 23, 192i
SPECULATIONS RIDE ON
I
THE TOP OF THE STOCKS
They Bring About Liquidation
of Long Stocks and Hammer
Prices Down 1 to 5.
NEW YORK STOCKS
RAILS ARE VULNERABLE
Hew TorV. Nov. 22. Speculator
for th decline again rode on the lop
of today' stock market, bringing:
about mora extensive' liquidation of
long atock and hammering prices
down on to five points. Trading wa
again largely In the hands of profe
sionals but aim of the selling came
from disillusioned small operators
and Investors who had bought re
cently In the belief that a turn for
tha better was Imminent.
Railroad shares, whtch heretofore
bad -not been liquidated as freely as
the Industrials, proved more vulner-
. abi today, non-dividend paying
atocka being especially weak in the
aftarnoon reaction, iU. 1ouis-San
Francisco preferred broke below 35
for a net loss of mora than five
point but rallied Jto 3 at the close.
Baltimore and Ohio dropped more
than 4 points, selltng pressure be
ing Influenced by President Willard's
declaration that the shopmen's strike
coat more than f 10.000. 000 and the In
timation that the prospect for a re -
. sumption of dividends this year wae
nen too bright. Expectation of an
early resumption of dividends on St.
Louts-Southwestern preferred sent
that stock soaring to 68. for a net
gain of nearly four pulnta. the com
mon improving fractionally.
Investment issues also fell under
th weight of tbe selling movement.
Union Pacific preferred yielding
nearly 1, while losses of a point or
mora took place In New York Central.
Chicago and Northwestern common
and preferred. Delaware and Hudson.
Orsat Northern preferred, and North
era Pacific tbe last named sagging
two and three-eight.
i Outside news dea. eWpments were
Largely favorable. These included
reports showlag th steel Industry to
ba oparatlng act so per cent of ca
pacity, anaoancements of sddltional
stock ar Increased dividends and pre
liminary figures on October foreign
trade showing exports f (37l.009.0.
the largest .to data, as compared with
(31T,9.900 in tbe preceding month
and J02.000.SOO in August.
Steal shares offered a little better
resistance, although United States
Steel common broke below 101 and
than rallied to 103 for a net loss of
V Gulf States Steel yielded IV, but
recessions in Bethlehem "B." Cru- j
cible. Lackawanna and Republic were
limited to a point and leas. Baldwin. I
8tadbakr, Corn Products and Oen-J
oral Asphalt all fell 1 to 1 points,
while Pan-American "A" broke three,
and one-half and the "B" it. Ameri
can Cotton Oil established a new low
llil record at 144. closing at a net!
loss of nearly I point, and the pre
ferred receding nearly five points. In
reflection of speculative disappoint
ment over th laat annual report.
Boas of the other outstanding ik
epota were Amarlcan Ice, American
Kxpraas, Barnt Leather, Femoua
Players, Kresge, Mexican Petroleum,
Otis Elevator, Lortllard Tobacco.
Standard Oil of New Jersey, and
Woolworth. the losses ranging from
three to six points.
Ther wer a few exceptions to the
downward trend. Continental fan be
ing washed np nearly two point to
13. a new high record for the year,
and Sterling Producta eatablishlng a
w peak at 61 in response to an
extra dividend of 75 cents. American
Banknote, also at a new high. Elk
horn Coal, Consolidated Has, and ,
South Porto Rlcan Sugar were, other!
outstanding atrong spots.
Call money held steady at five per
cant . throughout the day. Time
money loans were made at five per
cnt for all maturities, only a limited
amount being available for lending
purposes. Commercial paper trading
waa moderately active with no
change In rates.
Koraign? exchange opened easier
and then rallied, demand sterling
getting up to. Ji.49 anl) French
l Met to 7.. Canadian exchange
sold at a slight discount for the first
tliu sine the latter part of September.
Day total salea 9((.0A shsres.
! 2 Industrials averaged 94.2S. off
t.33. -
-. High ISM, fol.43: low. 78.59.
' 20 railroads averaged 84.31, off
1,(1.
High, 1911, H IS; low. 73.43.
r Tern. V. S3. Toll
.iit mt today transactions la
toca exrhangei
ale
in in)'
4 44am IC.a.
3 dv. Kernel?
Ad. Hubs. pr.
Mr Redact
A)ax. Ruhr
Ala lild. w
alaak Jan.
wia la cwaaalet elaalag
atoelia tbe New York.
2
4
I
41
Sin A I. beat, and D.
3 41. Chem. and O. ar.
14 4.111a. 4 halm
II Am. Aa. (k
Uixa. A. Ch. r. J
S Am. Una. Net.
X Am, Rt. Sag
3 Am. Raarh H
I Am. Brk. 8. F.
334 Am. laa
S 4m. t ar. and r
I Am. t . and V. ar.
4 Am. Chicle.
41 Am. Cot. Oil
3 Am. Cat. o. ar.
II 4m. Irg. 8ya.
T Am. Kxprea
.1 ,tm. Hid. aad Lr.
.1 Am. 11. aad I..
1 Am. lee.
13 Am. Int. Can.
3 A m.-L. Fran ,
7 Am. Linseed.
M 4 m. Lorom.
I An. Metal
3 Am. Metal fr
I Am. Radlat.
3 Am. Sal. Has-
34 Am. Ship. Caa.
41 Am. Smelt.
I Am. ftmelt. sr.
37 Am. Stl. Fdy
I Am. . Ft. pr.
T 4m. Sagar
3 Am. Ha. Tab.
X 4m. Tel and C. B.
15 America Ta aad L .
ID Am 1waa
11 Aw Tab. B.
3 Am. wt, Waa.
IS Am. Wt. vta-a. r.
I 4 m. Wkol. pr.
37 Am. Hl
1 A. Wta. P. r.
t Am. ae. and Ld.
1 Am. Kr. aad LaV. pre
HO .4 aaeaada
n Aaa Arbor. tr
. 3 Aaaet Real
I Assa. Dry. ML.
4 Amme. Oil.
37 lirklaoa
5 Atrhwoa, ar.
S Atl. Rlr. aad Alt
T AtL Cat La.
1 Atl. Fralt.
IS Alt, . aad W. I.
I At. G. aad W. V pr.
a Atl. Ref I.
34 Aastla Nkrh
8 Aal 8atea
1 Aat Sales ar. ......
134 Bald. Leva.
243 Bait, aad Ohio.
T Bait, and O. pr.
3 Bnraet pr.
84 Bradl. Car. A
3 Bradl. Car. B
34 Rreekaat Park.
M Beth. Stl. It,
I Beth. St. ft. ar.
ST Booth Flak.
1 Bala. Rasa
Hklya. Rp. Tr
Bkln. l a iiaa.
Brown Shoe
Brwaawlek
Bar. Br. Pr.
Baraa Broa. A.
Baraa Broa. -
Bat. t en. aad 8
Bat. aad Sap. Cas.
Batteries.
Caddo Oil
laL Parks
a
i
4
1
13
2
4
3
4
S
14 CaL PetroL
3
1
33
SEVERAL POINTS OF
STRENGTH IN BONDS
Fro Offerings of Rail Mortgages,
F spatially Saeoad Grades.
(- - Tarns List Heavy.
-- Xaw Tork, Nov. !S. There were
several points of strength In today's
aarly bond market, but free offerings
of railroad mortgage, particularly
th second grade Issue, turned the
whelo list heavy, the volume of i
trading, however, being comparative- i
ly light. United Wale government
iaaaea held Arm. liberty iwi!
Jumping up 22 cent on 1100 and the i
others showing only nominal changes. !
New Tork. Westchester and Roatnn i
44's broke IV points and Seaboard 1
AT Lin consolidated 's. two. while
Tpsmb of aopmxlmately a point took
flac In Baltimore and Ohio converti
ble 4'a. St. Pnl debenture 4's and
convertible V. Norfolk and Vest
am convertible 4"s. Frisco prior lien
5's. income 4's ano" adjustment 'a.
Chesapeake and Ohio convertible 5.
eat Shore 4's and Central of fleo'
gla consolidated 8's! Mlnneapoll,-St.
Tjouta consolidated 4's and j's. nw
Haven and Mlseourl Psclc S'
wer strong st the start, but fell hack I
under the denressing influence oft
lower stock prices.
Chile Copper 7'. Otis Steel Is.
Magma Copper 7' ind ilullns Kavser
T' were th weak spots in the in
dustrial division. while Rrooklvn
Rapid Transit certificate 7 a and
tamped 7 s lot the most ground In
the public utility group.
Mexican 4 s. I.von ' and Csecho
lovaklan Is each yielded a point or
in the foricn list. Investors in
foreign eecurltie were interested In
Havana dlsnatches Indicating thst
Hd for th proposed 150 nno ono
Cuban loan would be opened next
week and that four New Tork svn
dleataa, headed by J. P Morgan and
company. Speyer and compsnv. Lee
Hlgglnaon ar.d company and BUlr and
company would submit bids.
. Public offering was made tr.dav nf
Jt Issue of 17.100. 0CO Kr'.e railroad i
per cent equipment trust "ertirirate
Baturlng from IPS! to u.)7, at rrlces
to yield from 1.75 to fi.60 per cen
. Total aales (par value) wre ill .
410.000.
si. Pet. pr.
t al. aad Aria.
CaL 1.4. aad Slae . .
31 Can. Par.
1 liw Plow
34 Tea. I.thr.
I Cea. I.tkr. r.
34 ( err Or Pea.
3 Certa hatred
3 Caaad. Mot
41 t he, aad Oh.
3 CM. aad l... .
3 Ch. and Alt. pr.
3 Chi. B. 111.
r Ch. F. III. ar.
a Ch. .t. West
3 Ch. Gt. W. ar.
St t . M. aad t. P
SI C. M. aad St. P. ar.
ST Ch. aad W. W.
Ch. aad W. pr.
Ch. Para. Tl.
Bar Silver.
New Tork. Nov. Si Foreign bar
allver (44: Mexican dollars
GILBERTC.WHITECO.
Aa 0-a-alstlea of civil. Merhaairal
KUttrteal aad Chemical Ceili-
. DURHAM, N. C
water wroitK. nwra plaut.
. . .. TRKiera. roadi
Dr. H. A. Schiffman
Optometrist
Row Located At
iCHIFFMAH JEWRLRT CO.
Phoa IM
W. McC Ne.le, M. E.
P. O. tms Ml Pkowe a4Sl
CSORIVLTIRO MP.CHAJ4ICAL
BrTGINEERg
Maehla aad Mill Daalgni ,
17 i . R. I. aad P
3 C. H. I. aad P. ar.
3 C. R. I. aad P. T pr. ...
113 hlle
a Chin Top
41 Cora-Cola
3d Col. aad E. ..
A Col. and 9au
1 I el. Graph
3 CaL Granh. pr.
9 1 omp. Tab
3 Caal tig.
I t ea, rtlst.
1SS (oaa. Vaa. r.
Kl t eas. Textl
134 Coat. Caa.
I f oat. laaar
IX (era. Prod. . . .
8 ( era. Prod. pr.
34 loadea
3 Ceodea, pr.
R fnse. tl
ta f roe. tl
I Crae. tl. pr.
T Caba Caae, a.
aaa Caa a, w. ....
I ( abaa Am. a-
ft Davldaa Ch
3 !e Beer Co
I Mel. aad Tad.
l. I., aad West
ilome Mlwea
Da Pant D JSem
)jul Kodak
ll Elk Mora. C
124 Kl. star. Bat
Em. Bran. pr.
P.adl-Joha
Ea-Jha pr.
Erie
Erie, let. pr
Erie 2 pr
Fam. Play
Fam. Play, pr
Fed. M. aad I
Pleher Body
Flak Rah
Freep't-Tx.
Gea. Am. Tank
Gea. Asphalt
Gen. Aephalt pr.
Gea. f tgar
G. ( Ig. pr. db
Gen. Electric
Gea. Meter
G. Mat. C per cent. db.
Gllddea (
Goed'k BF
Good. BF. pr
Granny Mln
Gray d Dav.
04 Gt. rth. pr
Gt. . Or. sob
3 Guantaa
1 G. M. aad Smr
3 G. Mo. aad pr
24 Gulf. Stat. Stl.
1 Ha'aharr Kl
I Header Mg.
13 Hoaan. Oil.
134 Hudson Mot
Hupp. Mot
Ilydranl St
Itrdraal atl. pr
Illinois ten
Inborn Ref
Inaplr. top
lntbor.-( en
Int. -ran. pr
Inter. R. T. w. L
1 Int. Agri. pr.
It Int. Cemeat
14 Int. Combaatloa
3 Int. Gt. North
lot. Rar. Co
1 lat. Har. pr
4 la. Mrr. Mar
1 lat. Mer. Mr. ar. . . .
lat. Nickel
5 lat. Paper
ST Iavlae. Oil
S Iran Prod.
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48
S3
"X
SI
5X
28
IS
20
34
SI
55
17
3
5
8
80
8
33
31
8
88
33
81
ST
SS
IT
115
15
118
5S
58
51
121
116
T
4
8
46
6t
IS
IS
51
T8
64
84
11
138
15
138
TB
33
74
152
13
28
35
03
18
11
S3
47
84
103
131
SS
IS
31
33
61
13
3
34V,
II
11V.
33
in
58
108
8
18
33
48
4
318
. as
s
Laat
fan
48
IT
a
38
40
6
ISO
TT
88
31
35
62
64
18
ia
48
108
181
13S
53
81
81
103
31
41
43
43
54
38
4M
XS
31
36
S3
44
13. .
isa
IT
306
16
14
as
it
31
6
64
13
38
31
16
43
6T
30 i
IT
13
ST
1
S3
101
1IT
114
X
13
S3
81
XS
XI
30
115
SS
45
TT
3
1
14
8
4
36
1
83
13
44
TS
TS
S
46
8
3
14
38
84
38
41
11
26
4
38
42
SS
84
18
18
111
40
ST
44
38
IIS
34
13
TS
48
5
31
XX
4T
S3
IX
SI
63
28
18
21
38
33
8T
18
3
5
8
81
8
35
31
8
88
33
61
3T
SS
IT
118
106
118
80
56
.12
123
116
S
4
8
46
81
xn
is
63
78
64
54
11
13S
13
140
76
36
75
152
12
Sal
la lSS-a
II Joaea Tea
Kaa. C. Sea.
Kaaa. Galf Co.
Rayer. J. aew
Kel-Sprlaur-
Kryatoa Tire
Kreeare, 8. 8
Lack. Steel
Laclede Ga
1.. Erto aad W
Lee Rah. aad T.
Lehigh Val
Lima Loo.
Loewa lac.
Loft Candy
Loo W. BIB.
WIU H. 1st pr.
Lortllard P
Loa. aad Naaa.
.Mark Track
Mark Tr. 1 pr.
.Mack Tr. 3 ar.
Markay Co.
Malllaaaa
Maaatl Sag
Maakat. Guar.
Maa. fiaar. ctfa. ........
M'hat. Shirt
Mar. a. H. pr
Mar. 8. R. prL pr.
Mar. S. R. a pr.
Marlaad Oil
Mart Parry
Math. Alk. W
Max. Motor A.
Max. Motor B
May Dept. St.
Melaiyr M
Mex. PetroL . . '.
Mex. Scab. Oil
Mex. Sea. Oil ctfa. .....
Miami C. Cp
Mid. state oil
MMval StL
Mlaa. aad 8L L.
M. s. P. aad 8. . M
Mo., K. aad T.
Ma, K. aad T. pr. aew .
Mo K. aad .T. warvaata
Ma. PactSe
Me. Par. pr. ,
Moataaa Pawer
Montgomery Ward
Mall Body
Nat. Acme
Nat. f Ik. aad 8a.
St. Caa. aad C.
Nt. Ea. aad Stp.
Nt. Em. and St. pr.
Nat. Lead
Nat. Lead pr.
. R. R. Mx. 3 pr. .
Nov. Coa. cp.
. O. Tx. aad Mx. .
N. . Central
N. V. Dock
V. Y N. H. aad H.
N. V.. On. aad W. .
Nor ' .aad West. . . .
Nar. A mar.
Nor. Am. pr.
Nor. PaclBe
Okla. PraeL
Orpk'm Clr.
Otla Eleva.
Otia Steel
Otla Stl. pr.
Owe Bat
Par. Devol
Par. G. aad E.
Par. Mall
ParlSe Oil
Paa. A. Pet
Paa. A. Pet. B.
Paahaadte
Peaa. R. R
Peaa. Sea. SL
People G. aad C. ..
Pear, aad East. ...
Per Mara
Pere Mar. pr
Phil. Ca.
Phillip Pet
Pierre-A r.
Plerce-Ar. pr
Pierce Oil
Pierce O. pr.
PIV Wig. Stores . .
Pitt f oal
Pitt, aad W. V. .
Pone. I t. Coal
Poatam Cereal
Psslaa Cereal pr.
Prod, aad Ref.
Pah. -r. r. H. i
Paa. A I. Sagcar
Pare Oil
Ry. Stl. Spa;
Raad Mlao
Ray Coa. C
Readlag-
Read lat pr
Read 3d. pr
Reminattoa T.
Rrplogle StL ...
Rep. I. aad Stl
Rep. I. aad 8. pr.
Rey. Spriaara
Rey Teh. It.
R. Datrh
Rat. Ry. pr.
t. Jo. Lead
St. I. aad Saa Fraa. . ,
St. L.-S. F. pr
St. L. aad 8w
St. L. aad Sy. pr
Savage Am.
Saxaa Mot
Seah'd A. I
Seah'd A. I., pr.
Sear, Raeh
Seaeca Cop
Shell Tr. aad T
Slarlr, Coo
Skelly Oil
Saatb Pac
aoath. R. R.
Saath. R. R. pr
Soa. P. R. 8a
Soa. P. R. 8a. pr
Splrer Mfg
taad. OH Cal
Staad. Oil N. J
Stand. Oil V J. pr.
Sterling Prod.
Stew War
Strom. Carb
Sradehaker
Sradebaher, pr
Sahma. Roat
n eerier OH
Teaa. C. aad C
Texaa Cam
Tea. Galf
Texa and Pac
T. aad P. C. aad Co. . . .
Tob. Prod
Tobacco Pro. A
T., SL L. IV. R
T.. St. L. W. B. pr
Trnnacoat. OH
I-ad. Typewriter
Valoa Oil
Lnlaa Pac
I'a. Par. pr.
Call. AL Stl
I alt. Drag
1 nit. Fralt
I nit. Ry. In
I alt. R. I pr
1. S. C. I. P. and F. . . .
C. S. C. I. P. and F. pr .
I. 8. Han. Marh
I . a. lad. Ale
C. 8. R. aad Im
I. S. Rabber
V. s. Rah. lta pr.
I . 8. Steel
t . 8. Steel pr.
l'tah Cap.
I tab See. Cor.
Vanad. Corp.
V.-Car. ( hem
Ya.-Car. Chens, pr. ....
Vlvaadoa
Wabash
Wh. pr. A
Web.-Hellbr
W. Maryl'd
W. Md. 2d. pr
Wester Kl. pr. Ill
W . Par. pr. ST
Wet. In. Tel. US
W h. and L. E S
W. and L. E. pr. 1SV.
White Eagle Oil 33
White Mot 48
White Oil 6
Willys Overlaad 6
Woolworth 318
Worth, p. aad M. 28
Wright Aer
Total aales teSO.OM agalaat SM.006 yeaterdayi 1.157,-
80S a week go 647333 a year aga, aad 678,00, twe
year. aaro. Free Jaaaary 1 ta data asSSS.lOS agalaat
1STM1463 a year ag. aad INMiMl two yeara ago.
P,
After Showing Net Losses,
Prices Hold Steady Late
In Afternoon.
STOCKS AND GRAIN HURT
New Tork. Nov. !. Th cotton
market was easier during today's
early trading but business waa com
paratively culet. and after showing
net losses of some JS to 40 points,
prices held steady In the late after
noon. January contracts sold off to
14.95 during the middle of the dav
and closed at S6.0I with the general
market closing steady at a net de
cline of 19 to 38 points.
Th market opened steady at a de
cline of IS to S3 points In response
to relatively easy cable. There were
rallies to within Ave to seven nolnta
of yesterday' closing flgtires right
after the call, but Liverpool showed
continued weakness and the market
nere soon eased off again. Buyers of
yeaterdatr aftrenoon seemed to be dla-
appolnted by the showing of the
r.ngllsh market and the fact that the
spot ssles officially reported In the
south late yesterday failed to confirm
yesterday afternoon's private reporta
of an Increased business. These two
features doubtless accounted for con
siderable liquidation while there was
also scattered southern selling on the
decline which carried December off
from 35.il to 34 93 and March from
35. IS to 34.07. These prices repre
sented net losses of 33 to 40 points
and the market steadied during the
early afternoon on reports that some
scale down orders to buy for trade
account had been encountered Just be
low me in cent level. There also
seemed to be some covering or rebuv
Ing by recent sellers, and last prices
showed rallies of some 10 to 15 points
from tbe lowest.
Prlvste cables said the relatively
easy showing of Liverpool was duo to
reselling by bulls owing to a poor
trade In Manchester. Some of the
private advices reaching her from
tno south during the morning com
plained of a continued poor spot de
mand but reports of diminishing ac
tivity in southern cotton mills were
denied by advices from Charlotte.
Weakness In stocks and grain con
tributed to the midday decline.
Tues.
Pec.
Jan.
Mar
!May
July
Open.
S5.20
25.13
, 35.20
35.00
24 44
High. Low. Close. Close.
25 .35
25.25
5.25
35.13
34.75
4 92
245
34.98
34.15
24.50
36.07 25.33
25.08 35.30
35.07 25.11
34.95 25.30
34.83 24.83
Spot cotton quiet; middling 35. SO.
Port Movement of Carte.
New Orleans: Middling. 25.90; re
ceipts. 13.843; exports, 1(0; salea, 1,
029; stock, 311.833.
Galveston: Middling, 35.05; receipts,
1S.5; ft ports. 5,817: sales, 1.519;
stock. 613,562.
Mobile: Middling, 34.83; receipts,
444: stork, 17.037.
Savannah: Middling, 34.76: receipts,
1.367; stock. 81.999.
Charleston: Receipts. 1,363; stock,
(7.800.
Wilmington: Receipts, 1,087; stock.
38.915.
Texas City: Stock, 27,406.
Norfolk: Middling, 25.00; receipts,
1,913; sales. 315; stock. 108.461.
Baltimore: Stock, 3.617.
Boston: Middling, 26.40; receipts,
250; stock, 5.600.
Phllsdelphia: Stock, 4.441.
New York: Middling, 36.10; receipts.
148; stock. 63.491.
Minor ports: Receipts, 200; exports,
300: stock, 7,664.
Total today: Receipts. 33,317; ax
ports. 6.117: stock, 1.330.116.
Total for week: Receipts, 143.471;
exports, 66,323.
Total for season: Receipts, 3,167.
699; exports. 1,920.616.
NEW YORK BONDS
New York, Nov. 31v Following are today'e closing prices of feoads ea the
New lark Stock Bxcaaage, aad the fatal aalesi
United States Bonds
Sale '
(ta atsoo.)
1136 Liberty a
3 Liberty aeeoad 4
18 Liberty first 4a
55T Liberty aecond 4s
65 Liberty third 4s ,
SS3 Liberty foarta 4a
ITS Victory 4a (aaralled)
5 Victory 4a (called)
Sea Halted Mates Treasury 4
Foreign Government, State and Municipal
HUh. Law. Claaa.
100.60 100.38 100.46
ST.S0 8T.86 8T.S0
8S.T6 8.54 8S.60
8S.0a ST.ftO ST.84
BS.no 88.52 BB.5S
tWtSO 88,18 08.23
100.33 100.28 100.30
100.08 100.03 100.06
88.58 88.5 BSJ13
Close
Argentine 7s 10044
City of Hergen 8s 108 V
city of Heme 8 1084,
City of Bordeaux 6s 77(4
City of Copenhagen 6s 90
rity or ureater t'rague 7s .... 7s
City of Lyons 6s 77
Clt yof Marseilles 6s . ; 77U
City of Rio de Janeiro 8s . 96
City of Toklo 5s 69
city of Zurich 8s ill
Cserhoslovak Republic 8s ctfa. . . 89
Department of Seine 7s 85U
Horn, of Can. 5 notes. 1929 . 100
Horn, or Canada 5s. 1952 98
Dutch Kasl Indies 6s, 1947 93
Dutch Rest Indies 6s. 19(3 WW
French Republic 8s 98
French Republic 7s 8S
Holland-American Line 6a 85
Japanese first 4s 93
Japaneae 4s 30
Oe.
Kingdom of Belgium 7s 101
Kingdom of Belgium (s 96
Kingdom of Denmark 6s 984
Kingdom of Italy (s 94
Kingdom of Netherlands ( 96
Kingdom of Norway 8 110
Kingdom of Sweden 6s 104
Paris-Lyons-Mediterranean 6s.. 72
Republic of Bolivia 6s ... . .. 94
Republic of Chile 8s, 1946 10!
Republic of Cuba 6a. 1904 14
Republic of Uruguay 8s 104
State of Queensland 7s 107
State of Queensland 6s 101
State of San Paulo a. f. 8s 99
U. K. of O. B. ft I. 6s, 1929 UOU
....103X
U. K. of O. B. ft I. 68, 1937
li. K. urasii la
U. 8. of Braill 7s . .;
V. 8. Brasll-Cent. Ky. Eleot 7s
U. S. of Mexico 6s
U. S. of Mexico 4
Railway and Miscellaneous
Close. I
Interior Movemeat of Cortoa.
Houston: Middling. 25.00; receipts,
10.579; shipments, 1,718; sales, 1,34.7;
slock. 447,(58.
Memphis: Middling. 26.60: receipts,
6.958; shipments, 7,413; sales. 1.360;
stack, 177.8(4.
Augusts: Middling, 24.75: receipts,
1.005; shipments, 151; sales, 25: stock,
76.668.
Rt. Louis: Middling 25.76; receipts
(.935: shipments. 6.325; stock, 17.245.
Atlanta: Middling. 25.30.
Little Rock: Middling, 16.17; re
ceipts. 1,184; shipments, 473; sales,
452. atock, (4.906.
Dallas: Middling. 24.16; sales, 1.
362. Montgomery: Middling, 24.50.
Total today: Receipts, 24.661, ship
ments. 21.0(0; stock, 784,251.
DECLINE IS SHOWN
IN COTTON PRICES
33
S3
IB
63
84
48
Sailing Preunra Whil Not Heavy
Is Persistant and Causas
A Slump.
New Orleans. Nov. 22. Lower
prlcea prevailed in cotton today
throughut the session. Although
selling pressure was not heavy. It
was persistent and was mainly based
on leas favorable mill reports from
both sides of the water. Consider
able selling waa due to reports that
aome large American mill were un
able to run to as great capacity as
desired because of labor troubles,
English mill sccounts were almost
uniformly unfavorable. Lowest
prices came In the afternoon when
December was off to 24.44 and the
most active months showed losses of
82 to 38 pclnts. The close was at net
declines of 16 to 20 points with De
cember St 24.62.
Liquidation of the long Interests
-ss in sufficient volume at times to
attract attention and It was consid
ered that this sort of selling wss be
ing stimulated by the nearness of
first notice day for December, which
Is Friday. While It Is fairly certain
that there will be tenders, there is
great uncertainty over, the quantity
of cotton likely to be tendered.
The weekly crop reports by the
government caused much comment
because of their mention of a top
crop maturing In Texas, but any
bearish effect from this wss offset
by a private estimate that tltt- top i
Amir. Agri. Chem. 7s 101
Amsr. Smelting 6s 91
Amer. Sigar (a 101
Amer. Tel. ft Tel. col. tr. (s 97
Amer. Tel. ft Tel. col. 4s
Amer. Writing Paper (s
Amer. Water Wks. ft ElecL 6s.
Anton Jurgen Marg. Works (a. .
Armour ft Co. 4s
A.. T. ft 8. F. gen. 4s
A.. T. A S. F, adj. 4s
Baltimore ft Ohio (s
Baltimore ft Ohio cv. 4s
Bell Tel. of Pa. 7s
Bethlehem 8teel p. m. (s
Brooklyn Edison gen. 7s, . .
Brooklyn Rapid Trans. 7s ctrs.
Canadian Northern 7s
Canadian Pacific deb. 4s
Central of Georgia (a
Central Leather 6s
Central New England 4s
Cerro de Pasco 8s
Chesapeake ft Ohio cv. Si
Chesapeake & onto cv. . . ,
Chi. & Alton I
Chi. ft Alton 3s
Chi., Burl, ft Qulncy ref. (s A.
Chi. ft Eastern Illinois 5a
CJhl. Oreat Western 4s
Chi., Mil. ft St. Paul cv. 6s, B.
Chi.. Mil. ft St. I'aul cv. 4 Via .
Chi., Mil. ft St. Paul ref. 4s . .
Chi. ft Northwestern 7s
Chi.. Rock I. ft Pac. ref. 4s
Chi. ft Western Indiana 4s ....
Chile Copper 7s
Chile Copper 6s
Colorsdo Industrial 5s
Colorado & Southern ref. 4s
Columbia Gas ft Elec. 5s
Cons. Coal of Maryland 5s . . .
Cuba Cane Sugar deb. (s
Cuba R. R. 7s. A
Cuban American Sugar 8s . . ,
Delaware ft Hudson cv. 6s . . .
Denver & Rio Grande ref. 6s .
Detroit Edison ref. 6s
Distillers Securities 6s
Donner Steel ref. 7s
DuPont de Nemours 7s
Duquesne Light (s
Empire Gas Fuel 7sctfs..
Erie pr. lien 4s
Erie gen. lien 4s
Framerioan Ind. Dev. 7s ...
General Electric deb. 5s
Goodrich 6s
Goodvear Tire 8s. 1911
Goodyear Tire 8s. 1941 1164
Grand trunk Ry. of Can. 7s ....111
Grand Trunk Ry, of Can. (s 102
Great Nortlern 7s A i"'A
Oreat Northern 5s, B l'JU
Hudson Msn. ref. 6, A 63
Hudson ft Msn. adj. Inc. (s (9
Humble Oil ft Ref. (s 97
Illinois Central (s 100
Illinois Central ref. 4s
Illinois Steel deb. 4t
Indiana Steel 6a
Interboro-Met. 4s
Interboro-Met. 4s ctfs. stpd
Tnterborn Ranid Transit 7a..
Interboro Rao. Tran. j-ef. 6s 73 44
llnterboro Rap. Tran. ref. 5s otfs. 73U
Inter. 'it. .ormern an. s wi. put
Inter. Mer. Marine s. f. 6s (9V4
International Paper ref. Is B .
Iowa Central ref. 4a
Ksn. City. Ft. S. ft Mem. 4 . .
Kansas City Southern 6s
Kansas City Terminal 4s
Kelly-Sprlngfteld Tire Is
Lackawanna Steel 6. 1960
L. Shore ft M. 8. deb. 4s. 19(1.
Lehigh Valley (s
Liggett ft Myers (s
Lortllard 5s
Ia. A Northwestern 6s
Louisville ft Nash, unified 4s .
Magma Copper 7s
Mana,tl Sugar 7s
Msrland Oil 7s
Mldvale Steel cv. 5s
Minn, ft 8t. Louis ref. 6s
Minn., St. P. A S. S. Marie (s
M , K. ft T. pr. lien (s C
M.t K. A T. new pr. Hen (s A.
M., K. ft T. new adj. 6s A
Missouri Pacific con. (s
Missouri Paclfle nn. 4
1 Montana rowsr 6s A
(3
suv.
. . 7
. . 89
. . 88
.. 81
..100
. . 80
. .108
.. 911,
. .108
. . 87
..111V4
. . 79
.. 994.
. . 98.
.. (1
. .122
.. 93
. . (7
. . 24
.. 61
.. 994,
.. 80
.. 49
. . 70
.. ((
...62
.. .10(
... 814,
... 74
...110
. .. 95 44
. .. 7TV4
... 864
... 984
... 884
... 88.
...104
...10H
. .. 96
... 44
. ..101-S
...61
... 91
...1074
..10Z
.. 94
.. 6714
. . 46
. . 88
..100
..101
96T4
90
(7
484
(6
Cloae
96
(2
69
62vt
96
9814
New Eng. Tel. A Tel. lat (a ctfa
N. Orleans. Tex. ft Mx. Ino. 6s.. 77
N. Y. Central deb. (s 104
N. Y, Central rfg. A Imp. 6s 96
N. Y. Central con. 4s 804
N. Y., Chi. ft Bt. Louis deb. 4s... (74
N. Y. Edison ref. (s 109
N. Y., N. H. ft H. cv. (a, 1948... 74
N. Y. Telephone ref. (s.141 1044
N. Y. Telephona gen. 46 93
N. Y Westchester ft Bos. 4s.. 44
Norfolk ft Western cv. s 114
North American Edison a f. 4s.. 934
Northern Paolflo ref. (s B 107
North. Pacific rfg. ft Imp. 6s, C. 97
Northern Paclflo pr, lien 4a ((
North. States Power ref. 6a, A. . . 914
Northwestern Bell Tel. 7 1074
Oregon ft California first (s ...100
Oregon Short Lin ref. 4a 91
Oregon-Wash. R. R. ft Nav. 4s... 61
Otis Steel 7s 91
Pacific Gas ft Electric 6s 91
Pacific Tel. ft Tel. 5s, 1951 ctfs.. 90
Packard Motor Car (s 107
Pan-Amer. Pet. tr Tran. 7 108,4
Pennsylvania R. R. (s 109
Pennsylvania R. R. gen. (s 994
Pennsylvania R. R. gen. 4 Vis ... 90
Peoria ft Eastern Inc. 4s 27
Pere Marquette ref. 6 96
Phila. Co. col. tr. (a 100
Portland Ry., Lt. ft Power 6s... (4
producers ft tier. s, with war. .117
(5
(34
96
92
79
s
85
90
..100
. . 12
.. 11
. . 95
. (
. 38
.,78
i 89
. 82
.106
. 90
. 91
.103
. 98
. 97
. 77
. 90
.110
. 97
.104
. 88 '
. 38
.103
Public Service (s . .
Reading gen. 4s
Remington Arms s. f. (s
Republic Iron and Steal col. 6.
Rock Isl.. Ark. ft La. 4s
St. U. I. Mt. ft So. 4s. R.AG. dlv.
St. L. ft San Fran. pr. lien 4s A. . 70
St. L. ft San Fran. adj. 6s 76
St. L. A San Fran. Inc. (s 61
St. L. Southwestern con. 4s 76
St. Paul A Kan. C. Sh. Llna 4s. (0
aeaooara Air L.ine con. ss
Seaboard Air Line ad). 6s
Seaboard Air Line ref. 4s
Shsron Steel Hoop (s A
Sinclair Con. Oil col. 7s
Sinclair Crude Oil 5s
Southern Bell Tel. 6a
Southern Pacific cv. 4s
Southern Pacific ref. 4a
Southern Pacific eol. tr. 4s . . . .
Southern Railway gen. (s ..
Southern Railway con. 6s ....
Southern Railway gen. 4a
South Porto Rico Sugar 7a ....
Standard Oil of CaL deb. 7a...
Third Avenue ref. 4s
Third Avenue adj. 6s
Tidewater Oil (s
Tobacco Products 7s
Tolsdo, Rt. Louis A Western 4s
ITnlon Bag ft Paper ( A ctfs.
Union Pacific first 4s
Pnlon Paclfle cv. 4s
Union Pacific ref. 4a
ITnlon Tank Car 7s
United Drug (s .
tTnlted Ry. Inv. 1st 8s, Pitts.
United States Realty 6s
United States Rubber 7s .
United States Rubber 6s . . .
United States Steel s. f. 6s
Utah Power ft Light 6s
Va.-Caro. Chem. 7s, with war.
Va. -Carolina Chem. 7s ctfs
Virginian Railway 6s
Western Maryland first 4s
Western Pacific 6s
Western Union, 8s
Westinghouse Electric 7s
Wlckwira-Spencer Steel 7s
Wilson ft Co. s. f. 7s . . .
Wilson ft Co. cv. (s
Wisconsin Central gen. 4s .
Total sales of bonds today were
111.490.000 compared with 11,4(6,000
previous day and (31,380,000 a year
(1
22
. 39
. 98
.100
. 88
. 5
. 91
. 86
. 84
.101
. !'6
.
96
.108
. 6
. 56
.102
.103
. 71
. . 98
. . 91
. . 95
.. 84
..103
..111
.. 87
.. 99
..108
.. 87
..102
91
94
95
.. 9fs
..
.. 83
..109
..107
.. 9(
..104
95
(0
Steadier Rio Market Sen is
Coffee Futures Up Higher
crop of the entire state would not j Indicated a decline of 90 reli
New Tork. Nov. 22. The market
for coffee futures was higher today
on reports of a steadier Rio market,
stesdv cost snd freight offers and
further covering by near month
shorts. The opening was one to four
points higher and the more active
months sold live to ten points above
yesterday's closing quotations with
December touching 9.79 snd March
9t4. Later, March reacted to 9.61
under realising, with the general
market closing at a net advance of
one to aeven points. Ssles were es
timated at about 35.000 bags Includ
ing exchanges. December 9.7; Janu
ary 9.67; March 9 61; May 9.25; July
9.02; September (.66.
Spot coffee, steady. Rio 7's. 10
10; Santos 4's. lSflU. cost and
freight offers llrmer Including San
tos la and (s psrt Bourbons at
15 001 15.20, and RIo 7's at 10.(0
American credits.
The last official canies from Brarii
s in in
amount to more than from 60.000 to
100.000 bales. The steadiest period of
the day was around noop. following
the story thst Carolina mills were In
the local market with an order for
6.000 bales of spots.
ttpen. High. Low. t lose.
December. .
January. . . .
March ....
May
July.
24.60
24.(5
24.70
24. 5S
24. 2(
High
24.70
24.80
24.(8
24.70
24.14
34. 4fl 24.62
24.60 24.57
24.66 24.65
3-4.42 24.62
24 20 24.28
Spot cotton closed steady, un
changed. Low middling, 24.18:
middling, 26.00; good middling, 25.(3.
Receipts, 12.(42; stork, 811.623.
Feaaer and Beaae's Cotton Letter,
Ihpfrttl to IHlljr N.n I
New Orleans, Nov. 22. Cotton was
quieter today and price changes
smaller than any day for a month.
Values were on the downgrade moat
of the day though the net loss was
small. Scarcity of news of a stimu-
jlating character was one of the chief
134 j features. This probably accounted
131 'largely for th Increasing dlapoaltlon
06 to realise and the reduced power of
13 the rallies.
33 f Spot news was not of such a natuts
25 i to stimulate buying though reports
-1, from the interior told of firmness of
'a holders everywhere.
5 Possibility of a fair sued top crop
, In Texaa as evidenced by the weekly
25 ; review from a well known reporter
who predicts 50,000 to 100.000 hales
top crop proved a disturbing factor.
Indications point to continuation of
the liquidation until 'he first Decem
ber notices are c of the way or
until something new develops to stim
ulate fresh buying power.
FEMNEH AND BEANB.
v-a
dollar buying rale with an advance of
1-33 pence In tne rate on uonoon.
The RIo market was net 200 to 260
rels higher and finntoa 60 to 150 rels
lower. Brailllsn port receipts 42,000;
Jundlahy 22,01.
Activity Noted In Raw Sugar
But the Prices Are Unchanged
SHARRDECLINEflLT
J
Unexpected Fall In Liverpool
Quotations Is Responsible
For the Drop.
PROVISIONS ARE WEAK
ii
12
22
111
86
108
8
144
324
48
4
4
314
38
8
Cottonseed OH.
New York, Nov. 22. Cottonseed oil
advsnced several points early on cov
ering and commission house buying,
prompted by the steadiness In cru&s
snd lard but reacted before th .close
In sympathy with cotton. Leading
deliveries closed unchanged to three
points net lower. Rales (,100 barrels.
Prime crude I 25 sales: prime sum
mer yellow spot 9.5049.95; December
9.40; March 9.80; May 1.94, all bid.
Chicago Cattle.
Chicago. Nov. 22. Cattle: Receipts
K.000; good to best corn fed beef
steers steady: short fed snd native
and weatern grassers uneven, steady
to lower; one load prime 1.417 pound
steers 13 50; top yearlings 13.00; bulk
native steers ahort fed selling largely
7 imps 26; bulk western Steers 6.60B
6 60; few up to 7.004J7.25; aha stock
n.nstlv steao : bulk butcher cow and
heifers 8.76cJ(00; csnners and cut
ters largely 2.8673.50; bulls closing
10 to 16 cents lower; hulk bologna 4.10
4.40; stockers and feeders arouno
steadv; bulk 5.7643( 60.
Hogs: Receipts 27,000; closing 15
to 20 cents lower; mixed and packing
hogs off most: hulk 170 to 340 pound
verage 7.(0 7. 76: good snd choice
2 26 to 2.(0 pound butchers 7.(07.85:
top 7.86; 140 to 160 pound versge
f SR. napliillir SOWS mOStW 7.007-25.
desirable pigs 7.858.00; estimated
holdover 1S.00H.
Sheep: Receipts io."uu; im ,""'"
weak to 15 cents lower; top 14.76 to
cltv butchers. 14 65 to packers and
shippers; bulk 14. 25ff 14.60; culls 11.00
iff 11.60, generally; feeders steady to
strong: top 14.60 for three losds 58 to
62 pound choice Montsna feeding
lambs; one deck 70 pound feeding
yearlings 11.50; aged, feeding wethers
8 36: desirable 92 pound fed yearling
wethers 12.00; sheep steady to weak:
heavy fat ewes 6.006.00; one, load
123 pound few ewes 7.00.
Naval Stores,
Ssvannah. Nov. 22. Turpentine,
nothing doing; last sales November
18, 1.62: receipts 412; shipments 7V;
stock 13,209.
Rosin Arm; ssles 2.39b; receipts
1.049; shipments 232: stock 103,998.
Quote: B, D, E, V. Q. H. I, 5.15 : K.
6.40; M, 6.(0; N, 6(0; WQ, (.06; WW.
(.65.
New York. Nov. 12. Mors activity
wss noted In the local raw sugar
market today but no change In prices
with Cuba quoted at 1 cost and
freight, equal to 6.45 for centrifugal.
The day's business amounted to 128,
000 bag- of Cubas for prompt, Novem
ber and December shipment to local
refiners. There was also a sal of
25.670 hags of Philippine Island oen
trlfugals due about December 16
at 6.62 delivered.
There was renewed buying In raw
sugar futures by both trade Inter
est and commission houses prompted
by the better demand In the spot
market. Prices at one time showed
advance of three to seven points,
but reacted partially undsr. realising
near the close with final quotations
unchanged to six points higher. Dec
ember (.((; March (.43; May 3.66;
July 3.(8. A little better inquiry re
ported In refined sugar but no change
In quotations which ranga from 4.90
to 7.00 for fin granulated. Refined
future nominal.
Late In the day there were aales
of 30,000 bags of various full duty
sugars at 1 cent c 1. f. equal to
d.os tor ceniruugai.
Foreign Bar Silver.
London, Nov. 23. Bar sliver 31 and
7-i pence per ounce. Money 1
per cent; discount rates short and
three months' bills Iftfllni per
ueui.
Chlosgo, Nov. tt. Wheat under
went a daoldsd setback In prloe today
owing to an unexpsctsd dsolln In
Liverpool quotatlona as well aa New
York stock market weakneas and
disquieting reports about British un
employment conditions. The olose
was unsettled one cent to 1 not
lower with May 1.16 to 1:16. and
July 1.08 to 1.08. Corn lost avn
elghths cent to 1 and oat thr-
Ighths to one-half cent In provi
sions the outcome varied from five
rents decline to a rise of 1 cents.
Weakness developed at the outset In
wheat because Liverpool advloe
showed that ths market thar was
antagonistic to an advancing; ten
dency which value displayed yester
day on this sld of th Atlantic
Bearish reports shout ths dqmastlo
winter crop outlook counted further
as a weight on the market. Never
theless, rallies gained considerable
Impetus In the middle of th session
ss a result of predlotlons which war
circulated that oomprahanalv plan
would soon announced for TJnttad
States government asalstanc In dis
posing of surplus food products
aoroaa.
TJ B.lln Im V - 1 V-M -
though, carried th wheat mark
rapidly downward again and th
close was at almost the bottom fig
ures of th day. It was during the
final dealings that New York stock
market weakneas had most effeat
her as a depressing factor and that
uneasiness regarding labor trouble
In England led to Increaasd Balling.
Corn and oats followed the lead of
wheat. Reports from Omaha aug
gested that westsrn dsmand for cora
had become less urgent.
Provisions were Inclined t sag la
line with hog valuta.
open. High. low. CTloaa
WHEAT:
Deo. ... 1.19
May ... 1.17
July ... 1.0(
Deo. . . .
May ...
July . . (
OATS:
Dec. . . .
May ...
July ...
lard:
Jan. . . 1.95
May .. J0.20
RIBS:
Jan
May
71
70
43
43
40
110
1.18
109
I1
71
7o
44
mih mi-'
1.16 1.1(4,
1.07 LSI
70
T0
69
4 2 St
39
1.97
10.20
9.98
10.20
70
70
9
48
41
19
.7
10.20
9.76
9 65
Wheat: No. 1 red. 1.2701 19- Nn 8
hard 1.81. Corn: No. 1 mixed.
7SV74; No. I yellow, 71 V 74 .
BALTIMORE HAY AND GRAIN.
(Br laueJ Wirt to Dallr 3m.
Baltimore. Nov. S3. Wheat: No. 1
red winter spot, no quotations; No. 2
red winter spot 1.31: No. 2 red
winter garlicky 1.80; No. 3 1.21; No.
1 red winter garlicky 1.23; Novembei
1.80; December, no bid.
Corn; Cob corn, new, 8.60 and 8.60
barrel; .contract spot 81 bushel; No. 2
82; No. 4, no quotations; track corn,
yellow. No. 1 old or better 88 and 90
bushel asked.
Oats: White No. 1 65 asked bushel;
No. 1, 64 and 64 asked.
Hay: Received 6( tons; -market for
better grade timothy In fair demand
at l(to per ton, and for good
mixed 14.00O17.00.
Feaaer aad Beane'e Stock Letter.
c spent I u '"lit hen.)
New York. Nov. II. An unexpected
situation developed In the stock mar
ket today. Holdings of three pools
liquidated. They wera Rock Island,
Baltimore and Ohio and Frisco. This
unsettled the market generally and
for a while prices crumbled rapidly.
The selling subsided toward ths olose.
A moderate volume of short covering
snd miscellaneous buying ensued with
the result tnat a snarp rally was la
progress as the session ended.
The throwing upon th market of
the pool holdings created a genaral
selling movement In tho rail list and
this spread to soms of the leading
Industrials. It la In this kind of a
market that excellent buying oppor
tunities are afforded bnt unfortunate
ly few people avail themselves of th
price concessions.
News developments war favorable
In the extreme. Money waa relatively
easy. Foreign exchange buoyant.
Freoch francs rose from 7.0( to 7.11
strr!ng crossed 4.49. Weekly atoel
trade organ reported consumption
of steel keeping step with production.
One feature that auto companies wera
liberal buyers of teel materials.
Other trade news was equally encour
aging. W may anticipate continued Irreg
ularity for aome time in ths stock
market. Organised buyers activity
is planned In a considerable number
of specialties but no concerted effort
will be made until sentiment Im
proves. Would take advantage of all
sharp drives to accumulate ths good
stocks.
FENNTJR AND BTJANJS.
Pemaer and Beaae's Grata Letter.
ISDaolal U Dally Nm. I
Chicago, Nov. 22. Wheat: The mar
ket was sctlve. nervous and Irregular,
sealing oft early on disappointing ca
bles, alow export demand an.i talk of
larger prospective receipts recovering
sharply on commission house buying
and covering, May touching the pre
vious high of the season on numer
ous reports of governmental aid to
farmers and to market the aurplur.
grains.
Corn: Fluctuation with wheal
with a mixed trade. Reports of good
export demand created much buytnt,
at times and cash corn waa firm, bui
selling waa general toward the closi
and the market was at the day's low
Oats: Showed Independent strength
early on commission house demami
snd with lackf selling pressure, bu.
firstly weakened with other grain
The west reported a fairly good cae'i
ttadc.
' Liverpool Cottoa.
Liverpool. Nov. 22. Cotton, spot
steady; limited demand; prices steady,
good middling 14.94; fully middling
14.91; middling 14.91; low middling
14.61; good ordinary 18.91; ordinary
18.(1. Sales (,000 bales, Includlnit
1,900 American. Receipts 11.000 bales.
Including 16,400 American. Futures
closed barely steady.
November 14.10; December 14.01:
January 13.90; March. 18.71; May
13.68; July 11.39; September 13.(7.
We Offer Subject Sale
45 Shares Durham Hosiery, Preferred, 85 Flat
FIRST NATIONAL TRUST CO.
Durham, N. C.
Rucker Bonded Warehouse
Corporation
Cotton Storage Cotton Factors
1 Greensboro, North Carolina
One million bales of cotton bought annually within a
radius of 100 miUs of Greensboro.
Store your cotton in one of the beat markets in Amer
ica. Liberal money advances on cotton stored.