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20 SUKDAY KOrJvC, AUGUST 17, lSlfry THE NEWS AND OBSERVER. F 0RE1GN EXCHANGE FACTORINGDnON r Offerings Were Not Particu larly Heavy But There . - ' Were Few Buyers ! 'Htm fori, Aug- lfl.-i-A quiet hot I fairly steady, esrlx session; wi followed by weakness la ws eotton market this snornlng, owing, to further decllees la ! foreign exchange,' Mverpool sn4 South. era. soiling. These offerings vera aot particularly near?, Tint tbers appeared to be few buyers, and October eontrnets told aft from 31.0J to 90.60, eloilnc at S0.65. The general litt closed bnrely Steady, at a net decline of 28 to 34 points. ' w TherTatt that the stock mariet waa eloaed probably had a restricting Influ ence oa business in eottoa and the opening waa very quiet at a decline of J 12 to 22 pointa under realizing for over the week-end. It wnt supposed that :- Mattering ahort accounts had been t pretty well evened up on the' rally of yesterday But mere pas some lunner covering and perhaps a little buying on reports that business men of nam barg and Bremen were making every effort to establish credits for the piir ehase of American cotton. December worked up to .11.25 and January to Bl.lt or about 7 to IS points net higher oa the general list, but at this level the demand seemed to hare been pretty wall supplied and the market sold off to S0.7S for December and S0.70 for January in the late trading, .v. Reports from the goods trade Indi cated a continued small volume of busi .aese in the primary niarkets with sales at Fall Hirer for the week estimated at only 40,000 pieces. More activity was noted at seconds, however, and cable advires from Manchester elaimed that "while there was a lull ia demand, goods vera in a very strong position. There waa aothing in the weather and erop tews that attracted any special atten tion, although there was some com ment on the higher temperatures re ported in the Southwest. Cotton faYifrcs closed barely steady. High. Low. Close. .. .. 31.05 30.60 3t.S October. .. December.. January .. March.. May. SHARP BREAKS IF CORN REGISTERED Sterling Exchange Dropped To $4.25, A New Low Record; Close Is Heavy Chicago, Aug. 16. Sharp breaka which took place ia the core market today were, largely owing to the fact that sterling 'exchange had dropped to 44.25 a new low record. Corn closed heavy at 1J-S to 3 14 net decline. Oata lost 1 1-8 to 1 .1-4 and provisions, 10 to 70c. . CornNo. 8 mixed, aominal; No, t yellow, 2.00. Oats No. 2 white, 733-4 7 1-2; No. 3 white, 73 1-1(377: Rye No. 2, 1.M 3-4(31.56; barley, 1.3331.40; timothy, 9.0011.78; elover, nominal; pork, nominal; lard, 29.40; ribs 24.50 C 25.00 Open. High. Low. Close CORN Sept. . J. 84 1.83 1.82 1.83 Dee. . 1.46 1.401 1.43 1.93 OAT8 Sept. . M")i .73 .73 .7.114 Dec. . .77H -75V "j FORK 8ent 44.70 44.10 44.63 LARD 8ept. .30.13 30.20 29.30 29.40 Oct. .29.93 30.00 29.05 29.05 R1B&- Scpt. J5.2Q 14.90 24.90 PRICES FLUCTUAT E TOBACCO MARKET AT v LUMBERTON CLOSED Railroad Machinist! Strike Prorea Serioua Handicap To Kobeson Fanners Lumbertoa, Aug. leV-IndieaUons are that the Lumbertoa tobacco market, aa well aa all the ether tobacco markets ia the South Carolina belt, which have been eloaed aince Friday of last week oa se of the atrike of railroad employe, will reopea early aext week or the sale of tobacco. The UBexpeeted closing of the snarkete It working a hardship oa many of be growers who do not have proper atoragXi houses for keeping their tobaeeo. Vot j more than half the erop in Bobesoa has j been sold aad it is expected that when the market reopena the warehonsee will be overrun with the weed. Aa ordinance has beea passed by the tow a of Lumbertoa prohibiting the use I of any paved atreet by spielers. Since the opening of the tobacco selling aea- son many medicine men aad other street j spielers had been oa the job. However, the new ordinance blocks them. j GRAY GOODS DIVISION IN i COTTON GOODS IS WEAK' To Have No Recall Election. ' Wilmington, Aug.' 16. There will hardly be a recall election la Wllming toa this eeaaoai City Attorney Robert Banrk having advised council that the petition, although containing a suffi. cient number of names, ia defective in several particulars, and. further, that so far aa be can aee, the provision for recall ia defective, and there ia no machinery to call tad bold nn election. He telle council It cannot order and hold an election legally. The petition ers, mostly nnion labor men, may take the ease to court, but even at that, it ia hardly likely that n decision could be secured for months to come, la brief,, it would appear that the effort To oust Mayor Moore and the council nen who are opposed by the labor ole ic cat, baa failed. ' ' . IN EARLY TRADING Decided Downward Movement Late In Session Because of Reports of Rain 31.25 31.13 31.25 31.12 30.78 30.70 3.1.73 31.10 30.00 30.70 30.70 30.31 Spot cotton, quiet; middling, 31. lj. j RALEIGH COTTON MARKET. (Reported by Parker Uros It Co.) No receipts yesterday. Good middling , eiriet middling Middling 30'j 30 F EDERAL RESERVE GOLD DECLINING .Total Stocks Approximately Two Million Dollars Less Than Week Ago Washington, Aug. 16. Cold sloeks in the hands of tlio Federal Reserve Banks Continued to decline during the past week. The totul, as shown in the .state ment of conditions nt the closn of business mi AiiKiist 13, which follows, waanppruximiitcly 2,ltU0,HH) lirlow that f a week ago. Kesourcea: tlolil coin and rertiflcntes, $250,6.1.00. ' Uold settlement fund Federnl He eerve bosrd, t.'0IO6,(iO0. Oold with foreign agencies, blank. Total gold held by bunks, SS41, 157,000. Oold with Federnl Reserve agents, 11418,804,000. Cold redemption fund, SI2l.!rt,000. Total gold reserves, $2,02,387 ,00. Lsgsl tender notes, silver, etc., S09,- 138,000. Total reserves, 42,151.723,000. , Bills discounted: Secured by government war obliga tions, All other, 22i;(47,non. Bill! bought ia open market, $374, I75.WO. Total bills on hand, 12,117,714,000. V. 8. government bonds, 27,098,000. U, 8. Victory notes, 274,0O. TJ. 8. eertiflcates of indebtedness, 295,727,000. All other earning assets, blank. Total aerning assets, $2,440,813,000. Bank premises, 111,806,000. Gold ia transit or in custody ia for eign countries, 189,631,000, Uncollected Items and other de ductions from gross deposits, 338,- 399,000. Total of two above items, 928, 030,000. Five per cent, redemption fund : against F. R. bank notes, ll,ll3,non. All other resources, 15,553,188,000. liabilities: Capital paid In, $84,400,000. ' - Barplua, $81, 087,000. j Government deposits, $58,584,000. I .' " Due to members, reserve account, 1 ,778,365,000. Deferred availability Items, $670,- 13,000. "Other deposits including foreign ' government credits, 108,210,0xi. ,' Total gross deposits, $2,616,704,000. Federal Reserve Botes in actual cir culation, $2,540,904,000. . Federal Reserve bank notes In elr ' culatioa, net liability, $209,709,000. ; All ether liabilities, $3,553,188,000. Satis of total reaerves to net de posit aad F. R. note liabilities com - lined, 50.9 per cent. Ratio of gold reserves to F. R. aotes ia circulation after setting aside 35 ; per cent against net deposit liabilities, 1 61. per rent. ' NEW YORK DRT GOODS. New York, Aug. 16-Cottoa goods , were steadier today with. yarns quiet. ' Wool goods were bought more mode- rately and ins dress goods for quick '. shipment were scarce. Raw silk was flrmer. Burlap shipments from Cal cutta amount to 102,000,000 yards, aa unexpectedly large total. COTTON SEED OIU New York, Aug.. IS. Cotton need oil etarted higher en covering by local shortt, the advance in lard bat priors later turned easy for what of out H support end with cotton. Fiaal . V:4s were ve to 25 pointa net lower. ' .'rt 1,300 barrels; prime (rude, S2.00; I rime summer yellow epot,25.00; Sept.. I'.X; Pes., J1.60; March, 81.85. Kew Orleans, Aug. 16. Nervous and irregular fluctuations featured the early trading in cotton today hut Inte in the session there was a decided downward movement under reports of rains in Tons at points where rnin was needed and claims thnt picking was becoming general in Southern Georgia w it Pi the movement on the new erop only nbout ten days off. .Towaxd the close prices were at their lowest, showing net losse of 29 to 39 points, Inst prices were 28 to 32 points net lower. There was no decided trend during I tlio first part of the session. Tho j weather map was considered unfavor- i able, because of too. much rain east of the Mississippi river and not enough to the westward but its effect wns about balanced by continued lireoks with yes terday's close, the market fell off to a decline of 6 to 13 points. Shorts realized profits in a moderate way but buying from this source was not as lurge as expected on the week end. Selling pressure was only mode rate at any time during the first half of the session. At tho highest levels Oe tolter traded up to 3)1.95, from which it fell off in the last few minutes of the duy, to 30.35. Cotton futures closed steady at net declines of 23 to 32 points. High. October 30.93 December 30.82 Jnnuary 30.70 March 30.76 Mr.v Spot cotton quiet and sales on tlio spot J.J Imles; to arrive, 2IK); low middling, 25.03; middling, 30.88; good middling, 31.88. New York, Aug. 16. The gray goods! division of the cotton goods has been j very weak for several days and priewi i have declined from a top level of 183-4 j for 381-8 inch 64s60 print cloths to1 131-2. Rome sheetings used in the converting trades and which have been bought in exresa of immediate require ments have also been sold freely from second hands at material concessions. The decline in cotton and stock mar kets was accentuated by the request of the attorney-general for an extension of the Lever law to include wearing ap parel and this led speculators in the markets to release their holdings quick ly. The liquidation in this quarter of trade ia expected to have a wholesome effect in checking the rise although until goods come more freely from the mills and finishing works, any very great declines in finished goods are not expected. Stocks in first hands are meagre and it is thought that the jobbing trades of the eountry under-bought for their re quirements, rather than otherwise, so that the pressure of merchandise does not promise to be very great for some time to come. In most instancea first hands have made no price changes and tho jobbers report that trade with them haa not shut off as quickly as it haa in mill channels. Prices quoted follow: Print clotha 28 inch 64x6, 12c; 64x 60s, ltl-2e; 381-2 inch 64x64s, 17e; brown aheetings. Southern standards, 25e and 26c; denims, 2.20 Southern in- Idigo, 40c; tickings, 8 oz. 45c; prints, 19c; staple giughams, 21c; dress ging hams, 25e and 2aV. Announcements Ib conjunction with our general accounting practice, we ham established n special Tax Department for the purpose of adviaiag clienta and preparing the varioua tax returna and report required by Federal, State and City governments. - Trained accountants, experienced in Us procedure, supported by 'consulting legal advisers, are in charge of tbia department. - Through eatablished connections we reeeive copies of all decisions and rulings issued by the Treasury Department In Washington, thereby enabling us to keep thoroughly informed aa to income and other tax t matters. Arrangements may be made for combined service, consisting of audita and the annual preparation of alt tax returna required by the Government. , A. LEE RAWLINGS & COMPANY jKt Certified Public Accountant- Oncee, NORFOLK and RICHMOND It roa ur tsvma t city property for tale, write u. Vfm will axibdhrid nod ndl jrout AT AUCTION mkkSr and Wmty&un TUsnd Hmindtni Eiiit-Eit acret of Firm Lewd nmountinc to wtt, FIVE MILLION DOLLARS gold ia 1918. Write for booklet of cadortementa cod fafoiw notion about our auctioo mctfaodg. , ' ATLANTIC COAST REALTY COANY Tnt Joarwns roan connecncxT Office rTERSBURfi VA. tad OEDMUt at. G' RtttrnAJrybnAanrMnrsbr Low. Close. 30J55 80.45 30.25 30:1 tOJtl ,10 J 30.54 30.35 30.32 unchanged; Make Sarvey of Tonaage. Fsvetteville, Aug. w. For the pur pose of Disking a survey of prospective tonnage to be secured in this territory and of interesting local shippers in the restoration of the eoastwue service of the Baltimore and Carolina Steamship Company to .North Carolina, Mason ii Weenie ' Williams, ' president of the steamship company, and Mr. Dotea, Charleston agent of the line, spent yes terday in Fayetteville, leaving last night for Wilmington, where they expert to complete arrangements for dockage facilities preparatory to the post war resumptiou of the Baltimore and Caro lina's business at that port. A woman's sweetrst smile may hide an aching heart. C J. TALLMAN, Construction Engineer and Contractor WILMINGTON NORTH CAROLINA LOU IS BURG Concrete Brick, Steel and Timber Construction Work. TIME LIMIT WORK SOLICITED Pullen, Henderson, McKinney & Company CERTIFIED FTJBLtC ACCOUNTANTS (Ye.) An adequate force of experienced and qualified accountant for service in Auditing t Systematizing i Accounting aM Trattltn BUt, MCBMOKD, VA.' Fesr-lss Beak an. JTNCHBira6, Va. M CIHsias Baak BUf. KA LEIGH. K. C COBB BROTHERS & COMPANY Brokers Members of New Tork aad Norfolk Cotton Exchanges. Prompt attention to telegraphic and 'phone orders. Cottoa, Stoeka, Bonds, Grain, Pro visions. Private wiree. 223 plume Btreet, Norfolk, Virginia. Liberty Bonds Bought We wish to buy Liberty and Victory Bonds. Market Price Paid. The City Bank Right In tea 'Heart of EvcrytMag. R. a ALLEN, President t H. H. MASSEY, Cashier 0 DAILY COTTON TABLE. Port Movement. New Orleans: Middling. 30. : re ceipts. 877; sales, stwk, 32I.5S7. tlslveslnii: Middling, :il.(0; reteipts, 3,097; sales, 60(1; stwk, I.IOX'4. Mobile: Middling, 31.00; receipts 93; stock. 11,423. Savannah: Middling, SI. 25; receipts,! 2,1'Jfl; stock. SH.IHWt. Charleston: Middling,.; receipts, ; 21; stock, 33.070. Wilmington: Middling, 30.00; re ceipts, 49; stwk, 40,241. Texas Citv: Stot-k, N,!Wn. 1 Norfolk: Middling, 30.000; receipts,' 54; stovk, XOm. Baltimore: Htmk, S.398. Boston: Middling, 31. 5, sloek, U,lhHL I'hiladetpliia: Middling, 31.40; re ceipts, 100; stock, 7,72ti. New York: Middling. ZIMi stuck, i 8.7fl. ! Minor Torts; Stock, fifl,fi22. i Total Todny: Kercipts, 6.4I9; stork. 1.04923. Interior Movement. Houston: Middling, 0.93; receipts, 1,003; shipments, 4.70i; sales. !u; stock, 123,532. Memphis: Middling, .'IX 00; receipts. 253; shipments, 1,793; stock, 140,000. I Augusta: Middling, 30.0O; receipts,! 70; shipments, 300; stoek, 113,930. Ht. Louis: Middling, 33.00; receipts, 1,25; shipmeuts. 640; stoek, 8.0111. I Utile Hock: Middling, S1.50; re reipts, 41; shipments, 408; sales, 408; stock, 14,231. ! Total Todny: Receipts, S.S74; ship ments, n.,649; stock, 429.53.1. SPINKS & EDWARDS Highway Engineer! Masonic Temple Wlnatoa-gsleas, N. C Fourteen Years of Active Practice Sarveja I Eatlmatee t Const rnctien Attention! Soldiers!! . Actiyities of Businass Life Now Calls To You "Orer the Top." . Aa agency lot the Union Central Life itisursaee Co., offers limitless pos sibilitiee for 700 to build a business. ' This company liberslly insured the righting utea. War clauses sow elimi nated. All extra war premiums refunded. We can use Bfty energetic, capable men. Write ua at one for territory. CAREY J. HUNTER & BRO. ktatk a;ents RAI ClliH. N. C . Estsklktwsl lSTI ORVIS BROTHERS & CO. SS BROADWAY. KEW YOEK CITY MEMBElSi ' New rrk CetUa Eackmae Kvw Twfc Btecfc CicWw Sim Orlsuw Ottoa EachaBts ' Cktsaw BaarS f Tnls. Mew Tsrk CtMm nVsemr Bscfcsaa New Tarfc riWn Eacluwca WS WANT TOUB BUSINESS COBBESPONDENCB INVITED ANNOUNCEMENT MR. T. G. REDDEN Formerly of the H. W. Johna-Manrille Co., becomes a member of our organization on August 15th, as Vice-President and General Manager. We are confident that Mr. Hedden'a knowledge aad experience, gained through his seven years with the Johna-Manville Co., will enable ua to give our customers greater aervice oa ReoSag and Sheet Metal Work. BUDD-PIPER ROOFING CO. -DwfcM, N. C rr County Maps Countfw thst sr. wnprovinf , ktcatfne snd building n.w road, and mImoI. cannot affard to bs wilkout Mtwata map. - Infara.tiM I'sm ftaewast. Wells & Brinkley Spwisiiilrv In Ctrtsmty Hap, U.n kf aff shpwsb anvasawn aw. v AUDITS WstN& Mlm J. W. JAY & CO. COTTON MERCHANTS MEatBEBJi Nn T.rh Cltaa Exrkax. New Oriaan lariM htauii Ntw Vara PraSar. Eickau. Nw Vara Caffae aa4 Baear EKSaae ASSOCIATE MEalBEMi Umaaal Cattaa AaaartalWa Oriass salkilH far aarcaaa. as sals at ealtaa aaS aatiaa aaaS alt far f alar a Hry. LkWtat aSraaeas isSa ks aaat aaS saw (at aallmr. CemaaaaaMwa Iatta4l. II BROAD STREET, NEW YORK GEORGE R. DOBIE Public Accountant ROCKY MOUNT, .mr- a. 1 n. u 1 " 1 f,il:li 'JMiTcl I ' Sand and Gravel For Cone rata and Building Purposes Prompt Shipments PETC SAND & GRAVEL CORP. Petersburg, V. WE OFFER SUBJECT TO PRIOR SALE: A Few Shares Isaac Benesch & Sons 8 Cumulative) First Preferred Stock At part ($100) and accrued dividend (exempt from Normal Federal' Income Tax). This concern is one of Baltimore's largest retail establishments and has assets of $2,595,389. We Also Offer Carolina Power A Light 6 Bonds to Yield 7. We recommend these securities for a conservative sound investment. Write for Circulars. Durfey & Marr INVESTMENT SECURITIES ' Raleigh, N. C Liberty Bonds' Bought and Sold at New York Prices. BONDS and STOCKS I want to buy from $1,000.00 to $50,000.00 State of North Carolina Bonds. 150,000.00 Liberty Bonds any issue. 15,000.00 to S250.000.00 School, Bond or County Boads, any county ia North Carolina. Will buy Bank Stocks of any Baak in North Carolina. If you want to buy Liberty Bonds, I will nell them to yon. Office over Fleishman's Big Dry Goods Store, j Open from A. M. to T P. at. FRANK THORNTON Dealer in Stocks and Bonds PHONE IIS PAYETTEVILLE, N. C LIBERTY BONDS We are TODAY PAYING the following nrtcaa for LIBERTY BONDS t First 3 Vi $ 99.50 for $100 Bonds ,, 4Vi $ 96.00 for $100 Bonds Third Fourth Victory AM $ 94.10 for $100 Bonds $100.25 for $100 Bonds Other dcnoaalnntlons sad laatallasent receipts In xtrwwortiea. CAROLINA BOND & MORTGAGE CO. 10th Floor, Union Baak Building COLUMBIA. S. C it PHONE 7S Highest Prices Reliable Hide aad Junk Co. ItS W. Obarrse Sv BU LEIGH, H. C i HOTEL MARTINIQUE ROADWAY. X2a) A 334 ST NEW YORK ' 600 ROOMS 400 BATHS I One Biota frasn Passaa. Stalkxa, S Saganje Trenstsnsd Faaa a i Wraoirsawi iilafwaSk. Z ,w9askiHssasaa Tahea F "1 : Rite$--f rca $2 Per Dij A SPECIALTY IttPUASAKT ROOMS Wi rNrats lean $3 Per Day ilsaCaaxi ...... .a..M.n..xs..a..M.M.a.0s1 FaAREB M(miElY Repaired by Experts. New Parts Made if Necessary. SATISFACTION GUARANTEED ' Raleigh Iron Work Feane'era snS Macalaieta 1 , ii G RALEIGH, N. C Every Cent You Spend FOOLISHLY " IsBANKED By Someone Why not bank it yourself? It ia your money, aaTe it ' START AN ACCOUNT WITH ti 1 WI WILL HELP TOD SATE ' Mechanics Savings Bank J) n
The News & Observer (Raleigh, N.C.)
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Aug. 17, 1919, edition 1
20
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