Newspapers / The Charlotte Observer (Charlotte, … / March 24, 1907, edition 1 / Page 14
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AND FINAlXi KUCKS TAKE DOWNWARD TCKN. HJ.ukeU Here and In Europe Violently Agitated, Decline on Animcan bo ciirlilcfl Forcing Aemit Icl YUthln Measurable Dlntance of De moralized Selling of Last Tlmrmlay Iarge Inureata of London Market In Canadian Pacific Responsible for Mump In That Stock Which Broke on Kxtreme Of 8 l-s rouiie ana Went Fur to DemoraHio the Whole ' Ke York, March !3.-Securltles mar ket! here and In Europe all were violent ly agitated to-day and the decline in American securities forced the average level of price within meuiurable dis tance of that touched at the demoralized tiling on Thuraday of last week. The foreign market were disposed to assign the dominant Influence on the situation to condition of the New York stock mar ket The point at which fears of conse quences from the New York condition converged, however, waa London. This is owing to the necessity of providing there for a fortnightly stock market set tlement on Monday. The periodical set tlements are the occasion for making good differences In collateral and other details caused by the discrepancies since the last settlement. The large Interest of the London market In Canadian Pa cific accounted for the slump in that stock to-day. It was believed also that stock market pool, which holds a large Dock of that stock was called upon to take it up to-day and that a large pro portion of the pools holdings were thus forced upon the market The stock broke an extreme W points and went far to demoralize the whole list The Hill and Harriman stocks also showed losses of 4 to 6 points. A sin gular incident of the relapse was the quoting of lower money rates'ln London and Berlin." There was no urgent demand for money here, either. The bank statment, however, was disappointing both In showing less than the expertpi gain In cssh and loss than tho expected scaling down of the loan item. An In crease of loans of upwards of $10,000,000 by the !arg"t bank alonw largely affect ed the showing, practlcall yall the other banks reporting a loan contraction. Heavy movements of gold ere reported tetweon different centres nliroad, sug gesting n scramble amongst markets there for the supply. Foreign ndvlces re ported an expectation that New York would take Monday' arrivals of 8ou'h African, gold In London. Foreign ex change moved upwards, however. In thin riarket. The hasty profit taking by the bears seamed to he iilmoKt wholly re tpcnlble for the demand which rallied som stocks from the lowont prices, but the market closed feverishly Irrctrulor Total sales of bonds, par value. $1,100,000. The stock market of the week has shown the usual after effects of such a damaging storm as swept It Inst week. The convulsive rebound of Friday and Saturday of last week clearly was due to the scramble to cover of professional brar operators, who had recklessly per sisted In selling stocks down to the low est depths of the Inordinate declines of Thursday. It was to be expected that the higher rnnge of prices thus offered would be taken advantage of to elope out accounts which vrre carried safely through the panic plunge in prices, hut which nevertheless wire considered ho far crippled as to make the lenders of money disinclined to carry them TIiIh renewed liquidation was violent nt times and was accompanied by very i Uruni slantial rumors of financial embarrass ment of brokerage houses and of crip pled Arms belnK helped to avoid tunk ruptey. These reports fulled In all siimi-h of verification by any event, arid this tact In Itself had a (juletliiK efTei t on the Market and checked the beats. The market has continued unsettled and Culck to take alatm at any whisper of unfavorable developments. The uneasy stale of speculative sentiment was large ly due to the confusion of opinions n i" tho exact causes of the stock inark t slump and the ulterior consequences to be looked for. On one point opinion has been con sistent and persistent. That Is that the bulk of enormous liquidation which was thrown upon the market and the conse quent losses were attributable lo Imll duals and groups of larK wealth. In soma quarters the supposition was held that large controlling Interests In the great railroad systems themselves were Involved and a pendant to this ineory was that the less Informed following of tills class were the principal sufferers, the latter supposition taking form In ru mors of the losses of a so-called social pool, made up of wealthy Individuals not closely connected with financial admin istration of the corporations th-ni"lvm. Total sales to-day K9.0OO shares, In cluding Copper WI.100 Huctir 3.100; To baceo 1000; A. C. L WO; Canadian I'n cUlc ffl.SOO; f . A O. I.toO; U g, N J,300, Penna. 7S,fi00; Heading 141,no; Southern raclflo .100; Union Pacific 141.S0O; IT. 8 fiteel llt.100; Vn-('aro Chemical pfd Jm. Baltimore. March L'S. Beahonrd Air IJne common and preferred, nothing do ing. ITnbbard Bros. 4 Co.'s Cotton Iettvr. Epcclsl to The Observer. New York. Mnmh 21. -A marked de cline In Liverpool with poor London ad vices brought much weakness to our market at the opening. The 10-point loss was shout the level of the day, with very little disposition to Increase hold ings over the week-end. With the un easiness In financial circles. It Is difficult to see how prices cn be successfully held, especlslly with the very Inrgo crop outlook. Ht'UBAHD B1UH. ft CO. BANK STATEMENT Reserve. Increase $l.C8.1Ti0 Loans, decrease 8,M7.ftn fipscie. Increase l,52o.mm lgals, decrease .m.l Deposits, decrease 1. ;!.) Circulation, decreass 642,000 Daltlmorc Produce. Baltimore. March 23. Flour dull, un changed. Whmt stead), spot contract 7H to Southern on grnde 714 to 7. Corn easier, spej mixed 60 to f0'a. No. 2 white, r,2 to i:t. Southern whit corn ti to ra. fiats easier; No 2 mixed. 47 to 47, Rye firmer; No 1' Western domestic 74 to 76; choice 7 to 80 Butter steady, unchanged; fani y Imi tation 2 to 27; do creamery 31 tn s:, ,, isdls 23 to 23. store packed 17 to 19 Eggs firm, 17H. Ohsese active, unchanged large if,, medium 1D to small I,', to lJij Sugar steady, unchanged; eoaise xrau Ulsted K; fine $6. Cotton Seed Oil. New Tork, March 23. Cotton seed oil was quiet and about steady rime crud f. o. t mills 8 to J, prime summer yel low 4SH: off summer yellow 414 to 4ft; good off summer yellow 434, to 46, prlm whits 66; prims winter yellow 61 Naval Stores. Wilmington, Msrrh 23. Spirits turpen tine nothing doing; receipts if casks. HiMrtn firm, $416; receipts 5K. Tar firm, $2.10; receipts 1(, Crude turpentine firm, $3 76; $6 On and (t.tt; receipts U. Savannah, Oa., March 23. - Turpentine dull. 744; sslee none; receipts IK3, ship n.ents 247. . Riiain Arm to steady: sales none; re ceipts 171; shlpmmta 1,67; stock M.Ut QuoU! A B C $4 88; I 84U; K 14 H; K 4.40; a H46; H $4.70; I $4.70; K $6 60; M auv i n m w i", v rt ao 2B. The Dry Goods Market. v Kesr York, March B.-Tbe dry goods mam ax niwa quiei sna siesdy to-dsy. unt na vunuw wnii in larger OS- ' insna ana pnesss oignsr. ' i. -. 1 The) Money Market, nominal, time toana dull end steady. CO omym psar rani., mi oays ana SIX monins t psT cent. Prime merrantile paper ( to Ity psr rent; aterllnf axehaiige Arm with actual l.cnis In bankers' bills at $413.60 to i'4. tor stnuns, ana at S4.1 to H7I.1I for (s) day Uiia. posted rata $W0 to liivMi Commercial bills 47K4 to $47$. kw stiver . Mewtcaa dollars U. (Government bonds steady, Railroad , Vondg easy 1 1 , . co:: ?' v Yoi!i Trod uce. New York, March 13. Flour steady with a, light Inquiry. Minn, patent $4.10 to 4.oS: winter patents fa.tW to ixn. Kye tiour steady, i alr to good $J.S to $3. ho; choice to fancy $3. to $4.20. Corn meal oulet: fins white and yellow fl.20 to $1.26; cosrss fl.W to $U0; kiln dried 12.63 to 2.75. Wheat, spot steady; No. I red, 82 ele vator: options Mi to ,4c net lower; May 84; July 84M: Scpt-Mfc. Corn, spot steady; No. I, 67 elevator. upturns c. down, . May m; juiy w. Oats atwit itMitr. mlvAri hi. Beef steady; family $14.60 to III; mess 19.60 to $10; beef hams $24 to '; packet beef til to SlLM; city extra India mesa XX to $ZL ' " Cut meats steady; pickled bellies MH4 to 12; ptcKiea nams vi w b Lard firm, Western prime $8.80 to I. Reflned steady: ' continent ... M.6S: 8. A. (10.60; compound H to Pork steady; family $1S tol.60; ;short' clear il7.76.. to m.a: men ui.w ig tia-iv. Tallow steady: city Wt: country (U to petroleum nrm: renneo new xorx s.w, Philadelphia and Baltimore $8,16; do in bulk,H70. i i, Rosin steady; strained common to good $4 46 to $4.60.. Tumentlne steady 77 to 75. nice steady; domesUo fair to extra 2 to Pk. Molasses quiet; New Orleans open ket tle good to cnoice 87 to . Sugar, raw firm; fair refining 11-18; centrifugal 8 teat 8 9-18; molasses sugar 213-lu. Refined steady. Coffee, spot steady; No. 7 Rio, 7. no. 4 Santos, 814. Mild coffee steady; Cor dova & to VPA. Futures I to 20 points higher. Butter nrm, uncnangea. , Cheese Arm, unchanged. Eggs steady, unchanged. Freights and peanuts steady, unchang ed. Potatoes Irregular; Bermuda per carrel i to 18.76: Cuban 85.60 to $7; Southern $1.60 to $3.60; old potatoes 11.60 to $1.80; weets quiet, unchanged. Cabbages easy; domestic per crate $1.60 to $2. New Orleans Spot Cotton. New Orleans. March 23 Cotton, spots closed - quiet: low ordinary, ordi nary ana gooa orainary seuing lower than yesterday. All other grades sold l-16c. under yesterdays prices; sales were 300 bales on the spot Futures opened steady from 9 to 11 points below yesterday's close. The weakness of the stock market, poor spot demand and the condition of the Liver pool market, together with favorable weather reports prevented the market from irrowlnar stronser and while prices showed little tendency to go lower, the future market closed about where It had opened, to 14 points below yesterday's close. Futures closed steady: January bid 10.17 March bid W-M April bid 1010 May tld w.u June bid Jnlv hid 10.23 August bid W.13 October hid w.'w November 10. M Lecemler 10.12 Chicago Jrln nm) ProvMon. Chicago, March 23. A sharp declle In Wall Street securities caused weaanesa dav In the local grain market. At the clore wheat for May delivery was off c Corn was down 'A to . Outs, show ed a loss of V4. fiovlslons were "4 low er to 2Vt to I higher. WIIKAT- High Low Close W4 "Si Mav .. . July.. .. CtJltN May .. . 46 45-H 467, 45 37 15.70 15.86 8.77 X.K7 87 8.77 45Mi 1.V,, 41 3H 15.60 15.75 9.75 8.77 8.W) 8.70 45 41 37 15. 62 15.75 H.77 8.H7 8 fft 8.72 July .. . Sept. .. OATS July .. . May .. . 1-oltK- May .. . July .. . I. A ItiJ May .. .. July .. .. Rl US- May .. . July .. .. Cliarlolto Priidiice. March (Corrected dollv by R. II. Field A Co.) Chickens- Spiins 20 Mi Hens-J'sr heaa u mm I iich & Kirns H 15 letter 15 Kye 80 Corn 72 075 10 67 60 e ( ntton Hfsd. ()flls-Kccd .. Onts Becd .. t'ti'irlolt Col i mi. These flKurcs repressnt the prices quoted to wasjons saarcn a. Wood mlddllns; U Kirlrt mlMllng n Mld-lllnK "". TlnRos Hurt stains V4t New York Oitton. Now Tork, March 23 Cotton, snot i losi-il qnlrtt. 10 points lower; mldilllng iil.lnnds 11; middling ilf 11.26; no sales. Futures closed steady. Open High Ixiw Close March . 9.22 9.W 9 .29 April 9 .14 9 M 9.49 9 M 9 52 9 .M 9 0 9.K1 9.90 10.07 9 11 9.44 9 47 47 9.61 t.bS 9.77 9M 10 03 9. .11 9 41 9.47 9 49 9.R2 .M 9 77 9 ) 9 K2 10 .03 May S-46 June I t' July 9 48 Au;. Kept. Oct Nov. I lee. J ii ri. 9.51 9. R0 9 XX 10 M (Continued On Psk Fifteen) When in need of Alone, or brick, or lumber for a house it is good business to buy from the lowest responsible bidder, for the material itself enters into the permanent construction of the building; but it doesn't pay to buy coal that way, for coal itself is not what you want. A cer tain intangible something called power is what you are seeking, and power is not measured by the ton, nor has it dimensions like a block of stone. It depends upon Quality, and quality in the coal determines the cost as well as the quantity of the power. Because of its natural purity and uniform preparation ADMIRALTY COAL makes most power with least consumption. Hence the growing demand for it among southern mills and manufacturing plants. Write for quotations and contract proposition. Booklet "Fuel Economy " containing detailed information, mailed upot? request. . M. 0. BROOKS. General Manager, Chesapeake and Ohio Coal and Coke Company, 415-417 Mutual Badttiaf, Rlctuaood, Ya. Especially adapted for burning brick. fills vT ers r n r COTTON AND WOOLEN MILL MACHINERY AND POWER PLANTS ' ; Charlotte, N. C. YO U GA M'T FA IL To be Interested in the Following: 1 set 40-inch Picker Machinery, y 28 Deliveries Whitin Drawing, metallic rolls 12-inch coilers, mechanical stop motion. 7 Whitin Spinning Frames, 1 3-8 inch rings. 2 34 inch gauge, Draper No. 2 spindles. ' 1 Warper, creels for 420 spools. l2-cyinder Slasher, V and 5' cylinders. With size kettle (used 2 years). 3 36-inch Batting Cards. Greensboro Supply Company GREENSBORO, N. G. VEBER-- Producer Gas Power Plants Save SO to 75 per cent of your fuel costl over steam and Electric Power. H. A-l HOUR-1 lb. GOAL Complete Gas Engine and Producer Plant, Sizes to 1,109 horse power. INVESTIGATE. AbHoltttflT the most economical and reliable power for operating Cotton Mills, Gins, Electric Light and Water Works Plants, Flour Mills, etc Do not fall to get de scriptive catalogues a nd estimates). Weber Gas Engine Co. Factory and Main Office, Kansas City, Mo. Southern Representative, W. T. IKVIN, Selwyn Hotel, Charlottes N. C. The Brokers Stock and Grain Co. A CORPORATION, CAPITALIZATION $500,000. Dealers STOCKS, BONDS, COTTON AND GRAIN Send name and addreas for oar weekly review of the market. CORRESPONDENCE SOLICITED. No. 1 Montgomery Street. JERSEY CITY, N. J. Power In . Obi i ui J i.jiLi- i .ii Stuart W. Cramer, MW OPPIOIt C3UTM TfrVON $1T.. - ' OHAKLOTT. N. a lilllll , J SB Ski 4 IIS . ' Cmlrinr Plat drill. Railway Head, . J I avrawini- riaunw, alplonfnf Framei . Twtftanattt Spoolerr QmOwt and Rceti, FSVSsWssWSJasjBSlBW I ETC ETC. JAMES E. MITCHELL CO. COMMISSION MERCHANT!. - Cotton Tarns and Cotton Cloths. CONSIGNMENTS SOLICITED. Philadelphia, 183 and 114 Chestnut St Boston, 1S5 Slimmer St. JTew York, No. II Leonard Si -Charlotte. M a Try on SL HUBBABD BROS, ft 00, BANOYim 8QUARB. NEW YORK. MaTMBKRS 07 Nsw York Cotton Bt naags. Nsw Ortaans Cotton 83 kamr, Associate Msmbsrs livnr pool Cotton Bxehanga. ORDERS SOLICITED For the purs ok ms and aals of cotton for futnra dslrvary. Ootms4m farrttftt Looms Dobb.es Repairs Crompton - Thayer Loom Co. Worcester, Mass Alexander & Carsed Southern Agents Charlotte, N. ?. Manufacturers and Jobbers frequently And It necessary to hara Banking FhcUlttos la ad dition to thosa offered r local THH First National Bank OF RICHMOND, VIRGINIA. With 91,00,000.60 Capital Earned Surplus I 00,000. 00 $5,500,000.00 Deposits 99,000.000.0) Total Hraourrcs Offers Just the Additional Fa. cllltlea Reojalrod. Jno. B. PnreeH, President; jno. M. Mfller, Jr Vice Pru dent; Chaa. TL Burnett. As sistant Cashier; t. C. Joplln. Asststant Oaahier. Shoe Trees preserve shape and add to life and appearance of your footwear. 6bapefl to Fit Stylish Shoe Men's and ladles' Slsea. Miller's Patent Extension Tree, price tl.00. Our Improved Lerer Tree, price t&c. In ordering, send outline of shape of shoe, with else and width, and add He for exprsss or mailing. Catalogue free. G1LREATH & CO. WW Come and look at our magnificent line of Dia mond. We handle nothing except the very best. It's a good investment, as Dia monds are advancing in price daily. CNCINZIR AND CONTRACTOR. " ,-'v s-'" V"" . Q sSfaCSMrSi - Intannediatsfl Cavsss Plana . lack Pramat JENCKES SPINNING CO. eOTTON YARNS OFFICES:, . Pawtueket, R. L. and PhlladelDhla. Pa. ihnAsJnhla OffloflL Martnm Merchant Bull dine W nuA. SDeUlasr. Muanr and Southern Renm. aentatlTe. 0. A. R0BBINS vuuinmm KQimnxrrn won corroir uxum, towmm ftstiviat exanouit 0HABLOTTS, MVHiQUZZ SPINDLE, .o;ijls fw t5bft Waanr Vatata. Aganta WataW Ptiaotas Oimneanfla, GEO. B. HISS OIL CO. CSAltXAYlB, If. L J. SPENCER TURNER oornnnrog ziebchanto. r Tern, Ytssi and Oottca Piece Goods. PAULSON, UNKROUM & CO. Cotitioim Yartus ST-St UDONARA tTRXBI - . NHW YORK it iimunnvjr wrmaat PBOaASKLPRlA ft MONROsJ tTRPTI CHICAGO 3roc m. e. Single lift Jacquard with Independent Cylinder Motion. USE HAJTON'S JAOQTJARDg. THOMAS HAL TON'S SONS. ' 73 Philadelphia, Pa. Prospective Builders Before beglaning yoar b eliding operaUoaa. you wxmld dp weU to corwoidwtth aa for prices oa all aorta of Buildiag Materlala Webarrr a f nil line of Flooring. Celling. Biding. Iatarlof Trimmings, Sash. Doors. Blinds, ctd. Always prepared to furnish the beet materlala. and can ears you money. nTTTTON A BOURBONN AIS. Hickory, N. C. 1 SOimiKRN QtTEEX GRAT8 ' OUR LEADER. If It's Qretee you want, or Mantels and Tile, eea aa or write ler.cata locus. J. II. Vearn & Company Ckarlotta, R. O. PUBLIO AOCOCNTANTS AND AUDITORS ISttOWN & HUNTER Ctoth. Tarn and Knitting Mill Experts. IJ1MJJ1 Empire Building. ATTjANTA. (ia. EQUITABLi liUlkDltcX ' ATLANTA OAs ' r IIIIVVII . Autamatto Feeders r , Opeaert and Tranlr, v Drcaker, Iotscmedlate tatf ' Finisher Lappera, KlrtvduMrCardlog Beaters Tbread Elxtractora, ' ' Wasta Pftdcera, etc. f RawCtsK&Dryera. 1 haohjjtbxt. 2J0ETH CABOLZKA. LOOM. ENGINE AID VALV2 CO. ggy comvf sjocy, JUtV COZ9P0 W4 V. Y. V. T. A D. SALKELD & BR0., COMMISSION MERCHANTa. M-TI Leonard Street, NBTVT TORK. COTTON TARNS. DBPTC r PredTc Vletor & Achelis. nuon IIACRAE ft co; Bankers (m athem saMBMtHaat WILMINOTON, n. a gfm, D. O, S Cteloresfe BMsv Cotton Hill Stocks BICHAED A. BLYTHE, uommission ZXercnant COTTON WARPS AN TARN& . Ke, 111 Cheatant Street. PnTLADIXriOA, . . u PA, 1711 D'OLIEB 6 C0; t (XTT0N - YAllNS ii Third and Cbaatast Sta. ' ICarl ner and Mserbaat BVt nn.inrtMfit a a "..TSVtti Am., . , ,v .--Ti.-,...
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
March 24, 1907, edition 1
14
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