Newspapers / The News & Observer … / Jan. 6, 1903, edition 1 / Page 7
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BULLISH REPORT PHILS TO BOOST Cotton Closes Nine to Fifteei Points Down. THE TONE BARELY STEADY A Heavy Selliij Hoviment set in During th* fay on the Ground That All Bull ish Factors Had Been * Discount ;d. > (By the Associated Press.) New York. Jan. s.—There has been no material change in the character of the general home demand today, business continuing on a moderate scale. The market is well sold up in most regions and prices are firm. Print cloths «Tis -11 cult to buy at different quotations. The export demand for China is still in evi dence. , NEW YORK COTTON. New York. Jan. s.—The cotton marke opened unsettled at a decline of six t: fourteen Doints. After the first sales : few of the more active months decline a point or two further. The early weak ness was due to active liquidation o long accounts and to active selling fc short accounts following a statement b. the former leader of the bull faction in dicating a change of front with reason given for lower prices. All the cottoi thus offered, however, was soon absorber and with decided recuperation at Liver pool where the market had declined rar idly under the same pressure; and wit 1 the weather in the South pool- and witl the receipts small the local market mad' a ouick recovery of five to ten points which was the basis of trading at noo wh-’n the census bureau issued a stnU inont Indicating that to and including Dr camber 13, 9,311,835 bales of cotton ha been cinncd and that 1,057.771 bales re mained to bo ginned, altogether 10,369,6* ' The details of the report showed that ; large proportion of round bales, reduce the actual number of regulation bales t something under ten million bales. : sr.no figured it. but while the statistics position remains strong and r.e' withstanding the bullish character of th census showing a very active sellinr movement s'-’t in during the afternoo largely for short account on the grour. - ' that all bullish factors had been dis counted in the late advance. The mnrkc was finally barely steady at net declin° of 9 to 15 points, the final figures bein' the lowest of the session. Total sale estimated at 600.000 bales. Nrw York- Jan 5- -C’otron future* onei frt weak. t otton futures closed b rely steady. nppfi. (’lni January.. R. 57 R 58 February 8-5 v March April P.O May 8-*>7 ?• '*•' June.... 8-63 July p *7 *.05 August B*s l 8- 5 September R. 25 Octobe; •• 8.01 8.0 Spot cotton closed quiet: middling u lands B.<-0; middling Gulf 9.15; sales 4, 0 bales- NEW ORLEANS COTTON. New Orleans, La., Jan. 5. —The spot cot ton market was vary quiet today. Quota tions unchanged. Contracts were quite active during th first part of the day. The early breaV in prices at Liverpool combined with thf uncertainty attached to the census bu reau's expected crop report led to heav> trading and rapid and wide fluctuation? in values. January opened down ter points. After the opening call January recovered 11 points while the other posi tions moved up to seven points. Th f census bureau's report proved to be of a bullish character, but failed to cstab lish any upward tendency to prices. Ir fact after the first shock prices won' off on the other tack, the board at th' dose showing net losses of 12 points or all positions compared with Saturday'; figures. NewOrleins.La. Jan. 5 "Cotton future? Hosed steadv. January February ..... B.sr@v..s March P.fti**.** Anril B.ftft®B 6 May 8.72 •Tune 8.77«8.78 July 8.82*?>1R.8 August 8 40@8.)f September LIVERPOOL. Liver poo i,. lan. 5. 4p. m Hnfitnp Spo moderate bu=une*e done; American mid dling fair 5.52: good middling 4.8 R: ’mid diing 4.'0; low niiddli' " 4.58; good ordinary 4.4 ft; ordinary 4.St. The sales of the d # '••ere 8. r >oo bnl *s. of which 500 ,we*e for s >eculation and export, and Incluprd 7 TCP American, iteeipts 1 .000 bale®, including 10.0 0 American- Futures opened easy and closed s ea.iy- American raiddlieg, g- o- c.: January.. 4.68 January and February 4.67^1.ft? February and March 4.67 , 4.?>s Mar-hand April 467® -68 Anril and May...... 4.ftß@<. fto May and June .... 4.89 , j54-70 June and July.., .. 4.ft0@,4.70 July and August 4.69'iM,70 August and September 4.022>4.ftt KALEIGH SPOT COTTON MARKET Receipts 7 bales. Receipts this day last year ... . 25 bales I rices today .. R @B* Prices this day Inst year '?s Receipts this season l; >Ol Recipts last Season .. .... • • 7.95 OTHER COTTON MActKKTf. POBT. | TiVM. MID. RECEIPT’ . a vestou quiet till pi S.lW'i '•orfolk Stead v BJ4 o,l'Jl la timers. ... auonnal rt\ toston . quiet y.UQ 45a ' i'niiiiKtoo . nun Dal 'hiia l«;pni*.. quiet 9 15 b.a arsoDah .... qui-t RS 7.1t5l t«w Orleans... , 4(u ., k a « iij ID.l«j ■''bile. q llet 8 7-U» 4,.»|D isiuphu s’eidy aw 1 18*D ' ogusta 8 11-16 82.1 harle.stor...... drn> j UnoinnaU ®>ady 8, i 1."u7 Loiuavllie... . Brin Svi ! _ >i Louis si-ad# Bvt ! f,;V) Houston .... sica'iy 8 Jl- fc 12.881 New Vor!< .... | qtuei B.DI " 1 .-> P Tftaeola | Sih n Tau snd: ..... \ Pon Artbiu ~..! I’" Uineswinir . j .!..!! REA BOARD STOCKS AND BONDS. Baltimore. Jan 5 Seaboard Air Liue common 27ft; preferred 442 V Bondi—4’s. Bjft. GRAIN AND PROVISIONS. Chicago. Jan. s.—There was only a moderate trade on the Board of Trade today and the wheat market was rather quiet, but the close was firm with May l 4 Tlie Aetna Lite Insurance Co. IS MAKING A SPECIALTY OF “.ffitna 5 Per Cent. Gold Bonds.” i heir values are larger and their rates lower than any others The 20*year Endowment 5 per cent. Gold Bonds f the Aetna Life offer greater advantage! than any other Investment, carrying i the same time absolute protection. For information address Chas. L. Van Noppen Superintendent of Agents. J. D. BOUSHALL, Manager, Raleigh, N. C. ent- higher- May corn closed % and sac. lig-hor, while oats were up %c. May pro visions closed from sc. higher to 10c. lower. ..ending futures rnugeo ns tollows : |OrS .ISh UOHBST. | LOWEST, j CLOS’HS. • n..?* * Itl __ 714* ___ -70’a £IX uv. ...j7‘'Ji@7.s)ii 7.‘>,5t(3,75?* 71 n Corn-1 | n 44A£ t»v 42*® 13 4374 4374 !42)4®r2ft Oats— | V.." . 33Y@«l-» BiH 3374 34)4 “O. iv I n 17 15 17 20 17 15 17 30 lay.. . l-i 00 Irt 05 13 85 15 D 5 .ard ~ m.... D 75 o*B t 0 67H DSO ay . 851 935 925 930 Übs I in... 8 33‘4 825 |832 4 835 la ...... 852 4 857 4 _•- 54 8 '-714 j»sn quotation# «• re h* -oii.iwi, Flour quiit, easier; winter piteitis S3.TO@ .50 kirsutiu i 3. i0@3.30; on.»rH ,$2 TO®.'!.lo; a inug gpeeiH-ii 4.20; -'i>r.n>( pstsms 4'U0@8.70; -. straigius s69o(<>-CIO h kors i2.25@2.75. vh“H—N >. 2 -wring .. No. 3, 70; •r. -2 nd, '.O-fcfr'.lV w>rn No 215 <4; »o e. -now 45-74. out — • ?, 3ik; Ni 2. white ; No. 3 «.lii - 32(53244. Rye—Mo. 2, 48; oh - y good r « -• ing .iSff'NS; ir i. cue- amliing 5:5i56; No. 1 hi x wei 41.14; No i oorbwestern • 1.21. Prime Mito'hv set*. M»« poik -er bll. 17.'0. u»rd. icr lio bf. 9 7529.8 f. oort ribs s.n-s (I'- r-i sk2s@B.ro Dry-soteo oalders Goxed) 40.005, 9.23; Short clear-IDs "ledi 9.01159.1 ' . WumKey fy.3l. Clover •ontract u~ci> . 411 10- NEW YORK NSW; iTobk. Jan 5 - Fu-ur qui t ard eas, ; iipesota patents $4.0ffr?4.2 ; 10. hnkers •.1f@3.35; winter struguis #3.Hi©3..*5; winters ont-- |;4 «0@3.90; tow grades fg.9s@-3.15. •tve fiourque I; rooo J3.)0@3.10; ououetj fancy ; 56®3JS0. .:oru meal ?a-y: yellow western $1.18; City., -indywine $3.15(52] 55. •ye dull; No 2 -rs- err 6954 i State 56. Karley steady; feeding is ma uug 51®5154 »' ey m.tlt dull western 65(g<>«. Vneat—*j-ot 1 u’l Vo. 2, r «o. 78¥- O ’tio. g - . rch • ; May 7-.»74; .Lily 775*: October or — v pot. e y no 58 '*otJo .-.lsa -1 ry 6444 Frbruary . ; March 54'4; May 854; u y 4T 3 j. <1 t« is ot d 1; No 2 3854. Options— •lay 39; Oe'obaf —. liffl e.is : fau.ny n ess $11.00; le Cut m ats asy; rioled belies > ckl d .iu ders pickl d hams #ll lj rd e s ; western stemmed S»0 30 refined •isy; South America 11.50; the Continent .i.SAi; co .«i *>• n-. 7H®,7?i4. -•* r |irr gcla ; fanily i]B.fl(l@]B.2s; snoitc ear < 9 53®! 2.00 ill- a.i t 18.2.T@18.7i »ii«» stea.y: city por j.«ckHge s?a; country ackages f <>- P®6H'. • is.ii L*rin; s-r.iineJ common togiol, #1.85® .90. turpentine st ady; at sik@s(i .<io.- quo- ; aoiuv-ctic. urn tu extra 45i@67g; apa • .In.'assei quiet; New Oriesn*. open nettle - d io cnoioe d2@4o. Cohee—spot l.io stc.tuy; No. 7 invoiece 5)4; aid s ed/; c.iruov-. 7>»@U. >ugi r r»« was qtf et; .»»r reiiuink 3 7-I*s; rutnfugai, I*6 test. 3 J5-U5; refineu sugar su au ; fectioner’. ' 4.,'>0. ino.-d A 190; »■««« ard A 80; cut loaf 5.25; crushed s.ls;powdered 4 75; aauiate J 4.155: cubes 4.9.) rutier st.i*i»ay; ext a creamery 2S. western earner* rreßh 22V4 im tation <-rc»io«ry 14® js; ctorv 10® 18; .we dairy 20®2(i. C’lie-se enu; nov a*a uii cream, fancy • mad --Mior o. oid. 14; 11 tv. 12>4; siato wLi'.e, •-i. 13S@1S\; m w lay*. ; *.ggs hriu; average best 28: Sta*e ard ■euusyiv mi 28; w-i e n candle 1, *iyt@2.; ! .rigerat d 19@2t; aoutnwest-rn. 16® 17. Potatoes gteadv: Jers'-y 1.7507 2 )0; fcta'e aim esteru 1.5U®2.15; Loog ouuU 2.U0@2.2 ; outh jersey s«e- is #2. (@ ’.75. Peanuts steady; fancy u cu-p okid ■ do uestic 3ct4(4 1 abbsc-s quiet domestic, per ICO. whi'.t. v.»*jo@s.(o; ud, #2.50® 1.00; no f >ik 73@51.(1). Ire.gut* to uu uy ,> .... et i2c; r-aiu Id. otH-u .ees oil steady and quiet. Prime crude a rels f. o. u. nabs, 3r@32 .rm summer y low .3814 t ;>9*; »« '-i'liib' yellow prime vhitc 44; ,-r me winter vel *.w 42@41, p.une .e«i #g7.00 727 50 iK-tuinil. UALITMUKK PROVISIONS. rf*j/n**ORK. Jan. s.— B'iou r s'ert' y ; W inter xtr» 2.8,t®*3.05; do. 01. nr 43 3C@3.40; ao. straights •3 45®3.60; p tw-nts 1i.75® 3.95; 'p- i-g ear •{.' 5® ..45; Bpi iug straight <3.70ja3..85, Sp ing .a tents - i. 9024.20. a ue.at fir er; spot 7St<; J nuary 88; Fb- | iuarj' ; May ... : No. 2 red st'-t.iiu-r ' • o 2 red ; Soubhern wfc tbv sample 70@78. Co.n quiet; spot old 1174@5174; the yei-r i2-s-i,52-78 So. 2 nixed ; gnu .a y 50® 5' •iq , Ee ruary 49*4@19y4; May 48*4, Su-iiiem hie cum, new, 40J4®.51V. . Oats it-ong; No. 2 white, now, 43!4; be l mixed, new, 38 v uu 1 ixc, 2 cearhv, 55; No. 2 west ■i c 56ls® 56V4 ,utt r nnn fancy imitation 22@23; fanej -.reatrery 30®'il; a nov taaie iu@22; fancy :o.i 197520; gu an! I7@l8; ature ;aoaed I*>@lß. j Egts nnu, fresh 16@s«. Cheese s r ug; large 13M@11; medium 13@13i4; ! small 116,11*. bugar steady; flue and coarse granulated 1.91 H STOCKS AND BONDS. New York, Jan. s.—Today’s extremely rregular and uneven «toek market made a considerable show ot strength and a fair degree of activity, Stocks that (till net shace in the strength were not j generally reactionary, but were rather restrained from the advance by selling to take profits Commission houses im ported some growth in outside demand I and the feature of the day's trading was ' 1 he comparatively small lots dealt in. The ; great speculative pools were active at a tew points, hut in stocks, when outside lemand appeared they were inclined to take their profits by feeding this demand. The money rate relaxed very distinctly today and some ot the banks reported t renewals of call loans for large- amounts at materially lower rates than those late ly prevailing. The market rate on the exchange fell below six per cent, late in the day. Time money also was easier and for the longer prices wore some dif ficulties in placing funds. The problem of future net earnings of railroads are kept alive by continual reports of ad vancing wages. The reopening of the i'nion Pacific wage uesfion was a dis tinct drag linen that stock. I'he hard coalers reflected profit taking and Lnited States Steel, preferred v -'as a notable example of (ho same process, although the common stock shared fairly in the general strength of metal stocks, includ ing thf* railroad equipment companies. The further advance in the next price of cooper benefitted Amalgamated. The Southwestern railroads wore the sub ject of speculation on the ground of the early benefit to be derived in the t orn crop. Misouri Pacific was prominent and was helped by its increase in gnoss earnings for the fourth week in Decem ber of SIBB,OOO. Louisville, however, which gained in gross earuings for the THKMCWB AND OBSERVER. TUESDAY MORNING. JAN. 6. 1903 same period over $193,000, was held back through the realizing. The large engage ment for export of corn and the resulting making of exchange made an encouraging factor There was a notable disposition for the speculation to seek low priced stocks, both amongst the railroads and industrials. Some of the soft coalers' stocks were in demand, and especially those tapping the Ohio and West Vir ginia fields. A rally in St. Paul from early depression had an encouraging ef fect upon the speculation, as djd the strength developed in Sugar. But the irregularity in the market persisted until the close. There was some evidence of investment demand in the bond market and some of the lower grade bonds which still return a comparatively high rate of interest were the favorites. Total (par value) sales $3,80,000. United States 2's and oil 4's advanced 7A per cent, on the last call. Sales of stocks were 839,000 shares, in cluding Atchison, 20,200; Baltimore and Ohio, 13,500; Canadian Pacific, 9,900; Cin cinnati and Ohio, 7,200; Chicago raid Great Western, 21,600; Colorado Southern, S. Colorado Southern, first preferred, 6,000; Erie, 27.500; Illinois Central, 10,- 200; Lcuisvil’e and Nashville, 8,600; Man hattan, 58,300; Missouri Pacific, 40,100; Mexican Cer.tral, 6,200; Mexican Na tional, 15.206: Missouri, Kansas and Texas, 22,000; Missouri,Kansas and Texas, preferred. S. 100; New York Central, 5,300; Norfolk and Western, 19,000; Ontario and Western 6.500; Pennsylvania, 25,900; Reading. 35,800; St. Paul, 49,800; South ern Pacific, 1,500; Southern Railway, 34.- 500; Texas and Pacific, 7,000; Union Pacific, 25,500; Amalgamated, 55.200; American Car and Foundry, 17,800; B. R. T. 11,100; Sugar, 19,700: T. C. L. 11.100; United States Steel, 38,700; United States Steel, preferred, 22,100; Rock Island. 28.5C0. STOCKS. j Atchison 8 4 t -4 Sn pref 10D4 salt. & 0hi0... 10U4 do pref 9.U* OaDad'n Pacii*' IJ.V4 Can. Souther' 7 7*4 Chesa. <fe Obir . 40'i Chic. <fe Alton ?ft*4 do. pref 7JU j Chi. B & Q- . Chi.. I. & L ... 75 do pref 9t Chi- & E. 111....190 Chi. At G. W.... 29 do. A pref. .. c 0 do B. pref... 41 Chi. & N W... 22C Bock Island. .4</U do. pref R 4 Chi. Ter.AT 18’* do-pref . 35V4 CC C <fcSt L .... 96* Col- Southern- JO)4 do. Ist pref .. 70’A , do 2d pref 4ft Del- & Hudson.. 172V4 | Del..L. & W.. 761 Den- & Klo 6. .. Jl V 4 ! do- praf BVM Erie 38Y* do-Ist pref.... ohm do 2d pref -MK Gt- Nor- pref.. 201 Hock. Valley.... 98’4 do pref 95 Jlllnolß Cen 147 1 -;. lowa Can 4154 do n ref 7J5* LF. AvV do pref 11.1 Louis & Nash ..12744 Manhattan L- ..?4■)!/» Met. St. Ky t4D* Mex. Cen-. 2ft Nat. RRof Alex. 1 *y» Minn. & St. L-..ICR Mo. Pacific I'KH M. K. & T 2> >g do-pref 61*4 N- J. Central ...178 N. Y. Central 182 Norf.&West . 7Hi do- pref 90 No. Pacific do. prof ••• Ontario & V 5.... 327# Pennsylvania ...155 ‘4 Reading 68V6 do. Ist pref. .. hT* do' 2d pref 79*4 St. L. * S. F .... 7 i do-Ist pref.... 79 do. 2nd pref .. 71K St. L. S. W 2374 do. pref 04 St. Paul 17*% do pret 152V# Ssuth.Pac (5% BONDS. j.B.Ref. 2's ree-l08)4 8. 8. Ref. 2'b cqu It 8)4 U. B.3's reg *’ coup ICB U. 8. new 4’s reg 135'4 “ coup 135 H U. 8. old 4's reg 107V* *' coup 101% U. 8. s's reg IC3E “ eour 103* Atch’snGen. 4'5.102'/» •* adj 4’s 92 Bait & O- 4’5... 102 do 3 1-2's. 9 3% do conv. 4’s..loft Can. 80. 2nd5....108vi C- of G. s’s 10 % “ Ist incomes, 75 “2d lnc3mes 37'4 C, & O. 4X’s 10)* C. & A. 3 1-2’s--. 79k C.. B- &Q- 4 .a . 9(H CM&StP cen 4’sllo)d C. & N. con 7's. .135 C-. K. I. & P. 4’5.106)4 CCC&BLgen4’s. 99 Chicago Ter. 4’s. 8 4 Colo. So. 4's 93 D&. Klo G.4’a„. 99 E, prior lien 4’s. 7« Erie Gen 4's 85X F. 111 So. Railway .. 35tf do. pref 94V# Texas A, Pacific. 41% Tol. St. LVfcW. 2)V do-pref 4x54 [J. Pacific 101 !4 do- pref 9 V 4 Wabash JOT* do- pref 45/4 Wheel. & L- E .. 2ft do- 2nd pref... 35 Wls Central... 27tf do- pref 53 I’. C. C * St. L EXFKEBB O'S Adams F.xpress.-220 American Ex.... 230 United States .145 W r ells Fargo 220 ItfISCULLANKi. u Amalg. Copper.. 65 74 Am. C- & K 37)4 do. pref 92'4 Arner. L (J lt-M do- pref 44 % Am. Smel. & Kef 4 2V t do- pref v3)J Am. Tobacco Ana. Min. Co.. 709 Brooklyn R. T .. f.t % Col FAs 1r0n... 81 W Consol Gas 217*6 Font. Tobacco do. pref 11 •< Gen- Electric-.. 181 Glucose Sugar . •• Hock Coal 19 % Internal l't p>r 19 do. pref 72^4 Int. Power .... ft 3 LaClede Gas... 82 Nat. Biscuit... 45’f Nat. Lead. 28 Nat. Salt do. pref No. Amer 117)4 PacifieCoast.... 6 X Pacific Mall 40 People’s Gas ....103)4 Pressed S. Car.. 63)4 do- pref 9 3 Pull. Pal. Car... 231 Rep Steel : o*4 do-pref T. )4 Sugar \2'-V\ T. C- & Iron 65* U B. &P. C 13 do-pref. 7o U- 8- Leatner.... 3 do pref X D. 8 Rubber.... U. 14 do. pref 57 U- S. Steel 37)4 do- pref t BV4 Va. Ca. Chem Co ( 4 do. pref’d •• .122 West. Union 98)4 Standard Cll 75) Hock. Y. 4 1-2 s ,107 L-ft N. mil. 4’s .. 49 % Mex. Cen 4’5.,.. 75 do Ist Inc— 27}i Minn. & St L4’sloU4 M K. AT. 45.... 9$ ** 2nd's 8414 N. /. C. Ists .... do gen 3 1-2M04 N J. C. gen. s's.. 133)4 No. Pac. 4's 107 “ 3’s 7 H N, &. W-con. 4’5.100 Reading gen. 4's 95)4 St L A 1 Mton s's 114 StL &S Fgen4’s 97 St-L. S’wes IV. 98)4 do 2’s 81)4 8 A AA-Paas 4’s 85)4 So. Pac. 4’s VI V* 80. Railway s's. l 17 T- A P. Ists 116)4 T ,Bt-LAW. 4V. 77 Union Pac. 4’5..102)4 do conv. 4V 13ft Wabash Ists 117 “ 2nd® 1C 814 ’’do-Deb. B. .. 77H West Snore 4 8..111 W A L, E. 4’5... 9D4 *»is. Cen- 4’s ... 9D4 Mobile AO. 4’«. 95 Con. Tob . 4’5... 67)4 NEW YORK MONEY. New York, Jan- 5 4 p m - Money on cali steady at 5®9 per cent; closing offered at £®ift per cent- Tir/.e money easy; 6C days 5)4 per cent; 90 days s@s* per cent; *ix months :@5)4 per cenL Prime mercantile paper 6 per cent; sterling exchange steady with actual business in bankers bills al 486.50®'4.86 75 for demand and at 4.83.35 for 60 day*. Posted rates 4.84)4 and 4.67 *.; Commercial bills 4.82>5@4 5314; Bar .-ilvet 48: Mexican dollars Government bonds strong, State bonds iirm; Railroad bend firm. RALEIGH STOCK MARKET. (Corrected daily by Grlmei & Vaaa.) BONDS. Bid. Asked North Carolina 6’s, 1919 133 North Carolina 4’s, 1919 ....105 Virginia new 3 s 98 99 Virginia Centuries, 1901 Southern Railway s’s, 1994 119 S. A. L. 4’s 83 84 Western N. C. R. R. 6s, 1914.117)4 Ga., Car. & Northern s’s, 1929.112)4 Carolina Central Railway 4’s.— 100 Ga., So. * Fla. R. R., 1945....115 STOCKS. iVa.-Car. Chem., pref 124 128 Va.-Car. Chem., com 62 62)4 Seaboard Railway, prof — Seaboard Railway, com 25 26 Southern Railway, pref 92 Southern Railway, com 28 Atlantic Coast Line, com 140 150 N. C. R. R. Co., pref 113 NAVAL STORES. Wilmivotov. N. C. Jan. 5.-Tupentine firm nt 53, receipts 13 casks. I Rosin firm at 5t.35fcn1.40; receipts 378 Crude, firm at $1.75@.).00; receipts 107 bar rels. ! Tar firm at sl-60: receipts 2,18"). I Savannah, Ga. .Tan. 5 firm at 53; receipts 367; sales 117. exports 2.‘ R O l Rosin firm; receipts 4,057; sales 1,9,1; exports 5,444 ~ I Quote A. B. C, 51.47 V; D $1.47*; E. S’ 52«: F. St 57: G. sl-70: H. $2.00: I 2.35; K. 52..-5; M. S 3. )5; N, $3 55; WG 53.80; WWSI.2O. I Charleston, S. C., Jan. 5.-Spirits tur pentine firm at 53; receipts . ; sales . ; exports ! Kosin firm receipts .. .: sales ex port* .. _ 1 Quote A. B. C, D. E. *1.40; P, *1.35; G- 5.155: H.*l 35; I. S2.no: K. $7.-0; M. 53.00; N. $3 50; WG 3-75: WWS4-15. | Barbee &. Co.’s Cotton Letter -1 New York, Jan. s.—Cotton. —As was to be expected, the market has had a set . back on realizing. The break started Saturday and went further this morn ing. Liverpool broke sharply several points and general selling took place here. A feature this morning was the decline in January to a discount under March. This is about what might be looked for with the speculators in con trol of that month. We are not sur j prised and will not be surprised at a much larger discount. But there is noth, ing in the January business to induce one to give it any attention. It is generally known that the holders of January were also holders of March. Also what the January shorts were long of March, Now, when the January people have a lot of cotton delivered to them, which they have sold in the open market in considerable quantities they come out with a bear circular saying prices are likely to break half a cent a pound. All this will depend on the movement and on little else. Until the movement is on a scale to restore confidence in the larger crop estimates we would buy on every decline. A break of twenty points should entitle the market to a reaction. We don't believe a drop of more than thirty points likely before a sharp up turn takes place. Then let go the cot ton bought on this break. After an ad vance of this kind the market halts, re acts and then recovers most of the low. Then if factors are against the market prices slowly recede. It was the same at the decline to 7.84 for March. The price broke, advanced and then weakened to within a few points of the bottom again. So cn an advance. A market seldom, if ever, reaches a point and takes the other track without wobbling around a bit first. All this is irrespective of the fu ture course of prices. The speculative buying is good—better than for some time —and than for some time—and re ceipts are still rather too small to en courage larger estimates or to restore confidence in the large crop figures. The census bureau says the crop is 10.- 369,000 bales, Avhieh compares very fa vorably with the Agricultural Bureau’s estimate of 10,400,000 bales in December. If these figures are at all correct, there will be no trouble in buying cotton on breaks. Sentiment is on that side ot the market. On a further break, buy for a recovery. Cotton futures ranged as follows: Open High- Low. close- January 5.5.7 B.'B 8.75 858 February 5.59 8-67 «.5y g. 5 • M*rch 8.67 8.75 p.ftt April 8.67 B,ft7 a f /,3 km May 8.»7 B.7ft a. ft 3 p„ (, \ -In tie 8.63 8.6 8 B.ft3 -Toly 8.-9 B.7ft 8.65 e.65 August 8.55 862 8.51 8 c t September 8. ;s 8. r.j0 8.2 ’ October k-°6 806 B,yj ,3 The market closed stoady. BARBEE & CO. American Cotton Oil Dividend. The declaration of dividends tu amount of 6 per cent on the common stock of th<> American Cotton Oil Company invests with more than ordinary interest the an nual report of the company submitted the present week. The 6 per cent is not to be distributed all at once, 4 per cent being payable December 1, 1902, and the other 2 per cent. June 1, 1903. The report shows that these dividends arc based entirely on the past year's results, and were earned within that period; hence are not depend ent upon or in anticipation of future prof its. As a matter of fact the amount ac tually earned for the stock in the twelve months ending August. 31, 1902 (the term of the fiscal year), was considerably in excess of 6 per cent. The profits for the year are reported at $2,373,206, this com paring with $1,244,357 in the fiscal year preceding. The requirements for the de benture bond interest were only $135,000 and the call for the 6 per c<mt dividends on the preferred stock $611,916, making $746,916. Deducting this there remained a balance of $1,626,290. The 6 ner cent just declared on the common stock will require only $1,214,226. It follows, there fore, that over and above the 6 per cent, declared, a surplus of $112,064 remains, which is the equivalent of 2 per cent on the common stock. In brief, the late year’s profits were equal to about 8 per cent on the common stock. The American Cotton Oil Company stands out quite prominently among in dustrial corporations as an efficiently managed property. The company has an established business with agencies all over the United States and Europe for the distribution of its product. There have been reports recently of an inten tion to sell out or meree with some oiher industrial concern, these reports having evidently originated out of the action taken last January In depositing over a majority of each class of stock with a protective committee on an agreement continuing for three years. But while it is easy to sec that with the, property on its present profitable basis it would make a desirable acquisition for another cor poration, there is evidently little anxiety or desire on the part of the shareholders to sell. As far as can be judged, the pooling of the stock has been merely an effort on the part of the shareholders to safeguard their interests. Dividends on the common stock have been continuous for several successive years; for instance, in 1898. 3 per cent was paid; 1899, 4 per cent; 1900, 3*& per cent; 1902. 2 per cent; 1902, 4 per cent plus the 2 per cent addi tional which is to be distributed next June. There is no mortgage lien of any kind on any of the properties, and the total of the debenture bonds is only $3,000,000. As far as the current liabilities are con cerned these aggregate no more than $3,402,874, including $1,000,000 of bills pay able, while cn the other side of the ac count we find a total of current assets in the sum of $8,071,817. The amount rep resented on tho books by good-will is each year being further reduced. For August 21, 1902. the amount was only $16,678,034. Booking back to August 31, 1881, we find the amount then was $19,104,978. As show ing the care with which the property is being administered, one statement in the report is rather significant. We are told that the percentage of loss from bad debts for the past year has not exceeded the similar average of the previous twelve years of the company’s operations, being less than 1-5 of 1 per cent per annum. As bearing upon the outlook for the new fis cal year it is interesting to note that Chairman Morrison states that the com pany’s advices indicate a col ton crop in excess of that of the past year.—From the Commercial and Financial Chronicle, New York. Tarrant & King’s Cotton Letter. (Special to News and Observer.) New York, Jan. 5. —Liverpool showed a decline of from 3 to 5 points in tho early cables and our market opened easy at a net decline of from 7 to 8 points from Saturday’s close.' Profit-taking still seems to be the rule for those who pur chased some time back. The New Or leans market was much stronger than this market or Liverpool during the day, at times the May option being 10 points higher than this market. A prominent operator out with a circular this morn ing helped along the decline. Receipts are moderate and the ginners’ report, is sued by the government today, indicates a crop of only a trifie over 10,300.000 hales. The larger crop experts are in clined to reduce their figures somewhat and unless receipts improve, prices will not react much and we believe the mar ket should bo bought on such declines. TARRANT ft KING, 68 Broad Street. H. & B. Beer’s Market Letter. (Special to News and Observer.) New Orleans, La., Jan. 5. —Liverpool was disappointing, consequently our market opened 5 points lower, but im proved 7 points later on the expectation of a bullish census estimate. The re port when issued corroborated its first estimate of 10.000,000 for the crop as anticipated, and as there wore no specu lative shorts to cover a disposition was shown to realize, causing a decline o! 13 to 14 points from the top, making the net loss 12 points on the day. The census report said that up to December 13th, 9,312,000 bales were ginned. Counting the round bales, however, a half of it was equivalent to 8,975,000 commercial bales weighting 500 bales ginners’ esti mate. There are 1,058,000 bales still to be ginned, making the crop 9,996,000. The most important thing in the state ment is the details showing that Texas and the Indian Territory , had ginned 2,539,000 bales up to December 13th, and ginners estimated 242,000 -were still to be ginned, indicating a crop of 2,781,000 for Texas and the Indian Territory, leaving a yield of only 7,215,000 for the balance of the States. Last year on April 12th the census estimated the crop at 9,600,000 and tho outturn was 10,680,000, or nearly 1,100,000 in excess of their fig ures. Therefore as many believe they have made a similar act this year, they construe their figures point to a crop of 11,000,090 or over. The movement in the interior towns is liberal, and the prospects arc for freer port receipts. Should there be an expansion in the amount to bo marketed, present values cannot be maintained. Such being the case, we think well of realizing on steady per cents with a view of replacing on de cided breaks. R. & B. BEER. For LflOrinre and Influenza use CHENEY’S EXPECTO RANT, I Am In the Market For N. C. 4’s, due 19(0. N. C. 6’s, due 1919. and N. C. R. R. Stock. Will pay top prices for any of the above. LEROY DAVIDSON, Organizer and Promoter, 60 Broadway, New York, and Charlotte, N. C. Correspondence solicited. WANTED—PERSON TO CALL ON RE ail trade and agents for manufacturing house; local territory; salary $19.70 paid weekly und expense money ad vanced. Previous experience unneces sary. Business successful. Enclose self-addressed envelope. Standard f House, Caxton building, Chicago. 12-13-6 t sat & sun | ESTABLISHED IN 1572. HENRY BEER, BERTRAND BEER, EDGAR H. BRIGHT. H. & B„ BEER, Cotton Merchants. NEW ORLEANS. MEMBERS OF: New Orleaua Cotton xchange, New York Cotton Exchange, and A»ioclate Members Liverpool Cotton Association. Special attention given to the execution of contracts for future delivery in cotton Cotton, Grain and Provisions, j Small accounts receive the same careful attention as large ones. All inquiries promptly and cheerfully answered. TARRANT & KING.; <8 Broad Street, Morris Building, NEW YORK. yuiLL GO ON YOUR BOND-^ ** American Bending Company of Baltimore. ASSETS OVER IS.IM.COS BUSIN KS3 CONFINED TO SURETY BOND*. Accepted as sole security by U. B. Government and tb® Slat® and Counties *f Nerlh Caroline. , SOLfCHS THE BONDS OF Federal Officers, Administrators, Executors, etc., Bant:, Coi[>oration and railroad officers, Guardians, Receivers ami Assignees, , Jmpntv Collectors. Gaugers, etc.. Cotton and Tobacco Buyers, , Insurance and Fertilizer Agents, Contractors and Builders. Postmasters, Letter Carriers!), etc. Tobacco and Cigar Manufacture.a, And all persons occupying positions of trust and responsibility. Reasonable rates and prompt at tention to coi respondenee. RELIABLE AGENTS WANTED In all county seats and important towns iu which we are not at present represented. Addresr, R. B. RANEY, Central Agent, Raleigh, N. C. Please Write. We are Independent of any Monopoly. National Oil Company NORF CILK. VA. WHEN IN NEED OF 0T1.3 OR GREASES OF ANY KIND FOR ANY PURPOSE We SELL—Cylinder oil, valve oil, engine oil, dynamo oil, loom oil, spindle oil, machine oil. harvester oil, cotton gin oil, car oil, floor oil, !it;gual oil, belt oil, castor oil. harness oil, cup grease, axle grease, car grease, belt grease. Coal tar, roof paint. Oil and gasoline tanka. Prices and samples gladly furnished for tho asking. Works: Henry Street and N. &W. R. R., Lambert'* Point Track, Norfolk, Va.. P. O. Box I*o. Barbee & Company, RALEIGH. DURHAM. Members New York C< n L n.u • Stocks, Cotton, Grain a in! ITo visions. Prtvate wire* to New York and Chicago. Inatautsneou* quotation*. All transaction* maria direct with Exeh&ng e. Market information cheerfully (Ivan by 'Phone, wire or mall. Intel-state and Bell ’Phones N®. 67. CAROLINA TRUST COMPANY, RALEIGH, N. C, Capital, SIOO,OOO. out of s Tnci' t ” d Business GENERAL BANKING—Money received bn deposit, *ubject to cheek. SAVINGS BANKlNG—lnterest paid on deposits. TRLSTS. —Act» as Executor, Administrator, Guardian, Assignee, Receiver, Broker, Agent, Trustee. Assumes the management of entire Estates; also property for the use and benefit of others. FINANCIAL AGENT for floating Stocks and Bonds of Corporations. Especial and separate arrangements and convenicnces for gentlemen and ladv customers. OFFICERS.—W. W. Mills, President; Leo. 1). lleartt, Viee-President and General Manager; Robert C. Strong, Trust Officer and General Counsel; William Ilaycs, Cashier. DIRECTORS."—Janies Webb, ..1 I> It ggan, Charles B. Hart, Alexander Webb. Julius Lewis, Leo. I). Heartt. F. T. Ward, W. W. Mills, Allen J. Ruffin, W. C. Betty, P. K. Albright and Robert C Strong. Offices in Carolina Trust Building, Raleigh, N. C. Correspondence Solicited. INCREASE the light in your factory or store silty I i1 t per cent, by using our COLD W4TEK PAINT. j| *++* Whitest and Ijest on the market. TANNER PAINT AND OIL CO., 1 1419 East Main Street. Richmond, Va. ilFlraFiSlucTioi < — — ♦*** ♦ We are pleased to announce that we have jut issued a riatinum Reproduction of fiv* celebrated steel engraving “THE f 'ST MEETING,” Generals Robert E. stauuarUs. The name is in every way worthy and emblematic of the picture. There will be only a limited number of these pictures made. If you wish one order at once. WEATHERS & UTLEY. 1 AR T STORE. Raleigh, N. C. COTTON YARNS. Buckingham, Paulson & Go. Commission Merchants. NEW YORK. PHILADELPHIA. CHICAGO Solicit correspondence. We are prepared to d R 39 orders for prompt or future delivery for t o mbers of yarn to full advanced prioe. Hugh Mac ißae & Co* RANKERS. kfincoHaneou* louthur* Seruritle*, Cotton Mill Stocks A IFICIALTY. WILMINGTON. N. 0. Jacob Berry & Co. mpmdi'uu ) Consolidated Stock Exchange MEMBERS { N< y.‘produce Exchange. Stocks, Bondr Crain Cotton. Established IE . 44 Breadway, New Yerk, to* Main At., Durham, N. O. Fhlla. Office. Drexel Building. Telephone No. 7. Fend for market ettere , and pamphlet. Prompt servlet on all busi ness. Lee and Stonewall Jackson, tho evening before the battle of Chancellorsville, May 1, 1863. The original picture was paint ed by Julio, of New Orleans, La., and copies of the steel engraving are almost entirely out of tho market, the few copies remaining being held at a very high price. Oup reproduction is printed on platinum paper 16x20 inches, and is a facsimile of the original engraving. We have also designed a spe cial frame for the picture as shown in the illustration. The frame is a four-inch quartered oak moulding, stained to match the Confederate gray uniforms, with a burnished sih ornament inside. p the upper right hand corner are at tached two f> 4 1 silk Confed erate flags mounted on ivory 7
The News & Observer (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 6, 1903, edition 1
7
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