Newspapers / Asheville Citizen (Asheville, N.C.) / Aug. 13, 1917, edition 1 / Page 10
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10 THE ASliKVlLLE CITIZEN, MONDAY, AUGUST 13, 1917. LANGREN HOTEL European, Modern Fireproof f i . choice hotel ta a choice location ... The leading eommereiaJ hotel in the Carolina ? 200 Rooms of Solid Comfort DaAOtof wt ruing oa th rot Guy S. Lavender, Mgr. MARKET NEWS SPKXD THE gUMXEB ABOVE TBS CLOUD EAGLES NEST AND CAMP Oa Jtmalnara monacal a, overlooking Waynasvlll and Lake Junaluska, nomir resort Incomparable, Address . a etterthwalt, Jr, Kaglee Nwt P. 0,17.0. A treed automobile road lead from Waynearllle to nmrnlt THE IMPERIAL HOTEL . , ' j CAjrroir, jr. a a it. gkukb, prop. r , j AMERICA FLAW. Par Day. Special Rates by the Week or Month. - HOTEL BALSAM, BALSAM, N.C. Aa Meal spot for one ta spaad aa outing, (teener? and ollmata aarar. yaaeed and ! one f th. moat modern hotele la tha mountain Running wmtrJB ?. p??m ,2?Tte publlo baths. TennI. bowline, dancing. S"nl cllmbln, flihlna, eta. highest Railroad Station Kaat af tha IWokloe. Artltuoe WU Far rata, laionnatloa or reservation, writ, ta O. M. WHITKSIDK, Pres. KENMORE commercial bxadquaxter HOTEL WAYNX8YZLLX, If. O. . V: Oa Hata sfe-tOaea Thrtmghoat th YearFree Saapte 1 THE WILSON ... HENDEES0NVH1E, N. a J ' ' flecoad Ave. and Chorea) St, fteflaed Homelike Bet-vice for tha Dleolnilnatln Bates on Application. ' MRS. K. .a WIL8QX, proa. , AETHELWOLD HOTEL , BBJEVARD, K. C ICRS. A. H. KXKG, Prop. Headquarter for Commercial Man. Modem. Praa sample1 room. Praa ear to atatioa. Opea rear round. Rataa, ft.oo to 11.00. CLEWS' REVIEW NEW YORK. Aug. 11. Thaaa ara tha main factor In tha praaent buel- naaa altuatlon A highly profitable harvest for grain, cotton, frulti and rentable. A sound nnancial altuatlon. Oraat Induatrlal activity arlatng from war expenditure of 110,000, 000,000 or mora. Steady growth of government con trol ovar Induatrlal movement and price. ' Aalda from a poor spring wheat crop, tha government crop report waa highly encouraglnr. Tha month of July (bowed great Improvement tn nearly all crops. Tha moat satlsrac tory factor waa an expected corn crop of 1,1(1,000,000 buahela, compared with the previous bumper crop of I, 114,000,000 buahela. The algnlflcance of thla great crop will be appreciated by a oomparlaon of prlcea. At praaent corn In Chicago la aelllng at about II. 25 a buahel, thla abnormal price being due to apeclal cauaea. - A year ago tha plica waa about 45 centa. Sep tember corn, however, which more nearly represent a fair price, la aell lng above fl.lt In western markets, which la double the price of a year ago. Tha preaent price of wheat la In tha neighborhood of 11.40 In western marketa, compared with about $1.46 ea unfavorably affected by tha aama cause. . Our banking altuatlon la exception ally satisfactory, considering tha vaat strain Imposed upon our resource by me war. The liberty loan waa suc ceaafully floated with scarcely a rip ple. It waa tha biggest financial tranaactlon ia our history, and yet made comparatively small Impression upon eitner loana or discount. Anotn er Installment will probably be Is sued within a couple of month. Terma ara already being discussed ana opumistio opiniona aa to its auc ceaa are universal. There le an abun dance of money to invest, and the probabilities are that the aecond loan will be even more liberally aubacribed for than tha first. Many buyers who were too timid to avail themselves of the first offer will act upon the aec. ond. Bavin rs bank have adapted themselvea to the changed situation, and will be more ready to co-operate en the aecond loan than at the time of the first offering, when there was Justly some fear of depositor with drawing their funda too freely. Thl fear haa alne disappeared. Many wealthy buyer of Liberty bond who only received one-fifth of their blda will alao be liberal buyers, ao the new loan la assured of a large Initial de mand. interest tn the war haa alao deepened considerably during the past month, and this will be helpfuL The outlook of the market 1 some last year. Other grain are alao Bell ing at very nlgn prices, though tneiwnat confused by numerous cross Increase 1 not ao rreat as In the case I current. Aa shown above, the aari of wheat and corn. A big potato cultural and Industrial Interest of crop 1 aaaured. A good cotton crop I the country are aure of a season of 1 also probable, present Indication great prosperity, which will be re pointing1 to a yield of 11,900,000 bales, fleeted In all the distributive branches which compare with 11,400,000 bales of trade. The chief offsets nre arov in if If and a five year average of eminent regulation of Industry and l, zDO.uoo Dale, cotton 1 selling at trad ana the diversion of capital about IT cent, compared with 14 from new Industrial development to centa a year ago. It la quite evident l war purpose. Some inconvenience that oar agricultural classes are about may be felt by the withdrawal of to enjoy a season of undreamed pros- I labor for army purposes; but thla on penty for in spite of the Increased the other hand will be offset by va coats of production the margin of rioua economics, by curtailing the pro profit to the farmer haa Increased duction of unnecessarles and by the enormously, and he need no coddling. Introduction of labor saving; device. The earn I alao true In many lines A for government regulation of bus! of Industry. Iron, copper, lead and I ness, that should now be a factor of tin ara all elllng at price affording diminished uncertainty. The limlta- ... . I Hons and methods of such regulation are already known. They ara left ana norwunaxanaing nigner coeia or largely at the discretion of the oresl- productlon and advancea In wagea our dent. He may or may not exercise mineral lndunrie. with poaalbly the Pwers: Tnu ?r- th?. minl- .t ,, t ration ha shown a dispoaitlon to use n5 r5IJ V .J the" DOwer wl"'y and ln modera- unexepected prosperity. It la a very m , . .... .. Striking fact that such producer Of roflta rather than to t,r.v.nf raw material a farmer and miner ,iPi. uk.i .,n.i, 1 . are today enloylnr larrer profits than ! h K x. J........ .. .lt manufacturing u.ual risk created by war. Midsum ucT rflrt.nr; 0tS mer ulet P"" at Present, but be- S.Crity Welf. nSSSf. hfa'Seen0:: It?! !2l!, should be nnl'n'i'fnif.'li'J LlCIef l Very few industrial are actually ciKnl aJWtSX the' SSSZHStiXZ FTod'pilf VrJ.nedU"S ."".."vJtl: Vtion of excrProKnU may I P"'- Jf?d.5?"tl A Jil"i lr. hot prove quite as harmful as ome- .innnMrf T. ..n.i -J UmM "ared. It is well also to re SffiK4Wn 'thepVeTidento? S2 !"f -d"c"2 United States power to rerulate In- li!.-u.-J 5 a,.-,4 bou mo iAca iiuiu csueao jy runts, aibu niM.7. w TliLf-S T" that tner Washington today pleteneaa never before exercised in. . ar. . ,,, Dhi. h,,.in... men serving the country patriotically : MOUNTAIN MEADOWS INN A thousand feat above Ashaville; offering a deUghtful drive or motor trip over an exoellant road with magnificent mountain view. All modern conveniences. Including batha, hot and eold water, fclectrio ilghta, ata ' " aHaaer Parttea Specialty. HXSa TgaCPB HAnWa, Prop. TBOXB 7701. JOBBERS, STEAM FTTTERS, PLUMBERS, k CONTRACTORS. BUILDERS " New Pipe, Black and Galvanized, all sizes. Car lot orders solicited. We carry in stock constantly 50,000 feet prompt delivery. See us for prices. Wholesale only. FEDERAL RESERVE BANKS. ' WASHINGTON, Aug. It. Little change in the federal reserve banks during paat week 1 noted . la - th statement of oondltlona Auguat t, mad public today. Tha statement ahow: ReeoeuNwa. Gold coin and certifi cates In vault. ill ill AAA Gold aettlement fund... 409,163,000 Gold with foreign agen cies , SMOOfloO Total gold held br bank. 171.101 000 Gold with federal re serve aarenta. 4II.4T AAA Gold redemption fund.. 0.1T4.ooa Total gold reserves, .. 1,170,141,000 Legal tenders note, sil ver, etc.. ti l IT AAA Total reserves, 1.424.060.000 Bills discounted mem bers. .1 114.121.000 Bills bought In open market. 14l.TsS.000 Total bills on hand, . . . 184,010,000 U. 8. government long term securities. .... 41.fTi.000 U. S. government short- term securities 11.604.000 Municipal warrants. .. 1.274.000 Total earning asset, .. 159,171,000 Due from other federal reserve banka net, (a) 1.051.000 Uncollected Itema 105.701.000 Total deductions from grosa deposit. I04.10t.000 Five per cent redemp tion run a against red eral reserve bank notes, 500.000 All other resource, ... 425,000 Total resources. .11,981.261,000 Inabilities. Capital paid ln 1 Uovernment deposit. . Due to members re serve account. 1.101.014.000 Due to non-member oanka clearing account. Collection items, Total cross deposits, . . Federal reserve note in actual circulation, . . Federal reserve notes in circulation net liability All other liabilities In cluding foreign gov- 57.970,000 140,447.000 10,274,000 122,493,000 1,174,828,000 549,244,000 Dodge Brothers ROABSTEK All the qualities 'which you look for in roadster design and construction. There is generous room for the passengers. The seats are tipped at the most comfortable angle. The luggage space is extra large. The car is steady on the road at all speeds. Roadaflar or Touring Oar, lilt. Ia Canada, 11185 Sedan or Coupe, 111(5. Ia Canada. 11100 (All price tab. Detroit) Asheville Automobile Co. 18 and 20 Church SL 4,111,000 ernment credits. Total liabilities. 2,029,000 .11,988,262,000 Gold reserve aratnst net deposits liabilities, 74.8 per cent uold and lawful money reserve against net liabilities, 79.8 per cent. uold reserve against federal re serve notes, ln actual circulation. 90.1 per cent. BLACK MOUNTAIN RAILWAY COMPANY EFFECTIVE MONDAY, AUOUiT iTH, 1I1S. Northbound No. 4 Sunday only Dally Ex. Bunded A. M. 11:00 11:18 11. SO 11:88 ll:ot 12:15 12:25 12:35 12:36 12:47 1:17 P.M. A. M. :40 9:68 10:10 10:20 10:38 11:20 11:38 11:45 11:45 12:01 12:40 P.M. STATIONS Lv. At. Lv. . ...Eskota ..Murohlson.... ..Pensacola.... ..Low Gap.. .. ,..Dellns;ers..,. ..Burnsvllle.... . ..Wlndom ...Mlcavtlle.... . .Micaville.... ....Backus..... ona Ar. Ar. Ar. Lv. Southbound No. 1 "Daily Ex. Sunday Junday only P.M. 6:30 6:10 6:00 4:60 4:35 4:10 3:55 8:46 8:46 8:80 3:05 P. M. P.M. , :20 6:00 4:50 4:40 4:26 4:06 8:60 :40 3:40 1:25 3:05 P.M. CONNECTIONS At Kona, N. C with the Carolina, Cllnchneld and Ohio By. CHAS. T. MANDEL, j. BIS RAT, General Paasenger Agent President. Jo.inaon City, Tonn, Burnsvllle, N. C CLEARING HOUSE BANKS. any country of the world. Mr. Wilson a ava va taaw v s i iirva 7kaat,TTa. vui I cai i I be Muring, sine they will brine the S. Sternberg Depot St & Co. Phone 333 LlHr""": F-v.rnm.nt in close touch with big i. ..JW.vir. .v. I a,lnM''' tnua avoiding misunder- ? J5l i"f atandings and facilitating mutual aid r l..v:J " 5I and fair play. HJEJNRx CLEWS, and it is now proposed to similarly reKumie im import iramc or xne country. Along with these measures comes the power to regulate prices, Truly, war Is a one-man business. NEW ORLEANS REVIEW NEW YORK, Aug. 11. The actual condition of clearing house banks-end trust companies for the week shows that they hold 172,086,170 reserve In, excess or legal requirements. This Is a decrease of 196,700,510 from last week. The statement follows: Actual Condition. Itoana, discounts, etc. in creased $111,561,000 uasn in own vaults members federal re serve banks (a) decreased Reserve ln federal reserve 242,000 150,000 banks decreased 17.895.000 Reserve in own vaults. NEW ORLEANS. Aub ll. The lo- ata banks and trust These vast powers could be used for cal cotton market moved over a wide companies (b) de- weal or woe, but Mr. Wilson has the range last week, 146 to 149 points on creased 11,002,000 confidence of the people and can be the most active months, being sent "eserve in depositaries, relied upon to act wisely. Evervthln up' for wide advances ln tho early state banka and trust depends upon the direction and de- sessions and reacting later, closing at ' companies decreased trree to which they are applied. If the lowest levels, a net advance of 8 drastically used, much lose and con- to 15 points, bid prices considered. At fusion will be Inevitable. If used the highest prices active months were with care and prudence, they may ac-1 146 to 162 points over the previous complish great good. They can only week's close. be Justified as war measures, for trade I The advances were due to the and industry will ever prosoer more I strength of the demand for spot cot under self-development and remila- I ton tn the Texas market, to continu- tlon than under government domlna- ous drouth In portions of south and tlon. These new methods have, of I west Texas and to rains early In the course, introduced great changes Into I week ln the Atlantlcs. The reaction business. Now that the food rerula- I was partly natural, following the wide tlon bill has been passed and the de- gains, and partly due to railing pres- tails of the revenue measure are set-I sure from bearish traders, who con tied, business can be freed of manylsldered the dry weather ln the east uncertainties and will be better able I era belt after the middle of the eek to undertake obligation entering Into Iwas highly favorable and who -'ere the future. With these two all lm- I impressed with reports from Texas portant measures practically settled, I that the spot basis was weakening. much of the doubt which paralyzed I Also, on the week-end, the decision business for the past three months I of the British board of cotton control will disappear and the way will be I to curtail the output of En grit ' spin- opened to renewed activity. Agrlcul- ners by 40 per cent weighed against values. This week the Texas spot sltna- - All tha Lutheran women' organ isation In America have been Invited to aend delegate to a meeting to be held in Chicago next November to celebrate tha quadricentennial of th Lutheran reformation. ' It 1 not generally known that a woman founded dally journalism. The first dally newspaper waa the "Dally Courant," established ln London In 1702 bv mixahath Mat1a mnA -Jttt-A by her. tural prosperity will undoubtedly greatly stimulate business at the In terior, while the huge expenditures rendered necessary by war will stimu late business in eastern sections. A good cotton crop at high prices must similarly affect the south. Thus, for all sections of the country, an active weakening would have business is to be reasonably exrfected Influence for the coming fall and winter. Of The weather over the belt will e course, much unrest mar develon of more Importance than ever because here and there, owing to unavoidable this week will wing tne crop well derangements caused by the war, also August, -nerally regarded as the lo aisanecuon in industries ana Class- I most critical penou ut me oea. m. I tlon will have a great deal of atten I tlon and real evidence that - sellers are making concessions would have quick effect on values. On the other hand, proof that the market is not a steadying (.202.000 met aemana deposits de creased 49,660,000 Net time deposits In creased Circulation Increased .... Specie included ln (a) and (b) 185,636.000 U. S. deposits deducted. 204,988,000 Aggregate reserve 656,438,000 Excess reserve decreased. 96,700,610 Summary of. state banks and trust companies ln greater New York, not Included ln clearing house statement: Loans, discounts, etc., de creased $ Specie decreased Legal tenders. Increased . . . Total deposits decreased . . Banks cash In vault Trust companies cash ln vault 61,875,000 WHEN THE COLD WEATHER COMES Is not tha time to order your coal. You should think about doing that before tha First Flakes begin to fly. But if you have omitted to lay in a supply ind want some in a hurry Phone ' us and wa will make delivery lp the shortest possible time If yon haven't ordered do ao today. Ashe. Dray, Fuel and Con. Co, 41 Broadway The Red Front Phonea 228. (10, 141. Th Big Red Frcat" cepted aa market leadera show no very marked cnange in quoted values. Some of the steels and other equip ment are only 1 to 6 point lower, but Bethlehem Steel is down over 15 point. Cause no less potent but of wide ly different character account for the depreciation ln other stocks, notably motor and their accessories. Condi tions ln that industry are admittedly uncertain, several of the minor com panies showlns; need of capital read justment coppers, with few exceptions, 4iave varied only slightly, despite adverse labor (Situation. Important rails are almost unchanged. Recent news per taining to rails haa been extremely bearish crop views of lata last month also seemed to be disappointed by tho continued absence of hedging against prospecylve receipts. After advancing to 11.50 for October and 16.20 for January contracts, or about 285 to 290 points from the low level reached to ward the end of July, the market met increased offerings. There was a dis position to take profit and selling later was encouraged by a favorable weekly report from the weather bu reau and reports of increased new crop offerings in the southwest. Pri vate reports of showers in Texas were only partially confirmed by the official weather new of today, but improving crop account from other sections favorable, and steady accumulation of were much in evidence and aellers low-priced issues, especially those 181,000 (comprising western and southern di' visions, waa rejiunau. . Trading; has been largely specula' tlve or professional, with a liberal ad- mlxturo-of pool activity ln specialties. notably tobaccos .and sugars. The strength and activity of shippings seemed to oe predicated on more sub stantial grounds. Extraordinary financial operations, involving the heavy shifting of loans, accompanied the former money mar ket Time rate manifested no pro nounced cnange, out funds were ln much smaller supply. 1,149,400 890,900 1,640,900 6,647,400 12,026,000 FINANCIAL REVIEW COTTON REVIEW NEW YORK, Aug. 12. This same causes which have served to repress advancing tendencies since early in July were again operative during last week's Irregular and at times reac tionary sessions. Questions of govern ment price-fixing and excess-profit taxation, assumed more definite form, but developments were mainly help ful to the short account In the several weeks since prices and taxes have become almost the paramount Issne the dozen stocks ac- NEW YORK, Aug. 12. The cotton market was more or less nervous dur ing the past week and there was very wide fluctuation ln prices. Covering waa active during the earlier part of the period owing to the continued strength of the spot situation, com plaints of drought damage to the crop in the southwest, and a more optimis tic view of export possibilities. Re ports that new construction of ocean tonnage was Increasing and that ex porters were in the market for sup plies out of the local stock to fill out August shipments, contributed to the bullish sentiment Sellers on the showed increased confidence. A more hopeful view of prospects was con sidered a factor of the early week ad vance, but the attention of the trade seemed to be chiefly occupied by con flicting crop report, the strength of the old crop position, and uncertainty aa to the influence of the approach ing new crop movement DUN'S REVIEW NEW YORK, Aug. 11. JThe re pressing effect of existing uncertain ties has become more sharply defined. and in some of the most Important branches business ia characterised by rather more than usual mid-summer halting. With the continued doubts about prices and with the widening scope of the export embargo, the lull natural at tnis period or tne year is intensified and conservatism is a more conspicuous feature. Not only buyers. but also sellers, are ln many Instances Cisrficllned to commit themselves further and ln steel, lumber, textiles, hides and leather, and elsewhere gov ernmental purchases remain the domi nating Influence and take precedence over all other requirements. Weekly bank clearing, 14,622,- 007.192. r MUTT AND JEFF We Know a Lot of Guys Who Need Ginger Dop e in Congress. -BY BUD FISHER TCopyrlgnt HIT, by H. c xishar. Trade Mark Rag. V. B. Pat Off.) : , . .... . n J . , .anBaBaaaana. '' y ' ' ' ft ' ( l weveR srui och a- Mat sscm , "T ( )'m a House Doctor. C QUKfc. Doci ttefce, RlMr iv-wTV I swbon rVofcse. irs v I muBirf55) 0 i'u ave him a swr I tec, 6ie mb a sHr! j I uoft th fcuTcHMAM f wy J-STl 'ls y Aj(Se5.tope- , SoTTA CATCH- X Ktm him. A-rTHi t?y1l& SM? j AMb rr some pep TtW HoRse. -S j I : . ... .--feJJj .w.a- ,ju- - - - Ck . . s - . ; t - . v ... a
Asheville Citizen (Asheville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 13, 1917, edition 1
10
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