THE CHARLOTTE NEWS, CHARLOTTE, IT. C, WEDNESDAY AFTERNOON, JUNE 1, 1921,
19
GRAIN-
COTTON-
LIVESTOCK-
M
ARKET QUOTATIONS; FINANCIAL NEW
THE MOST COMPLETE MARKET PAGE PUBLISHED IN THE C AROLIN AS.
EDITED BY STUART P. WEST
For 15 Years Financial Editor of The New York Globe.
RILVAY WAGES
DO NOT DISTURB
Reduction Had Little Ef
fect on the Wall Street
Markets.
By STl'ABT I. WEST
ff Correspondent of The News.
..", lflSl. y News Pnbllshlnar Co.
I""' . stropt. New York. June 1. Pub-
,r,r of Hie decision of the labor board
' ... tin in railwav waeres had
the iruuvuv.. --- . "iz ;
iiti pffect one way or the other in
X ftVYHiU Ul All . V
Ken
,-i.-ts today
'Sp'-- " t. . minimum rl ma Yitnnm iM.
ft" .... i,i,h tli financial communitv
'! nvsmeri for the last wepk or
13et"g neither better nor worse
.1 .i for its influence was neea-
,n .. .or us immediate operations wore
tvt . But. in a broader view.
cre .lnnht about this downward
is " ., : ...
iiinn in th? railway pay rous oems ai-
w.isfi'torv ror tne irreai ma
ads
ore.
HlllH'UHt'1
South
and
.. Tt T'11
l'1- .... ,.i fti,,rtrotifi' pvnfins:
-tiling "f importance with can be
i i, '.lorstood in the light of the re-
'nrhB .4, . ..totonipnta for Anril.
poihvav ' stocks pooled with a good
, i'fnf uncertainty at the start, but later
leaV,. , .i.,p(1 rather more strength. In
(K . lie, nrnfacainnial nnprsthrs
iifl'isiria i iifi. i" -
,.-( their experiments on the short
,....;.. thp tirst hour or so. But
I, (IP 1' ' l . I Hrirtrr rtilt Q n V- frh
- . ... ... tnol: of anil this tt;lB tho
i,-i"tun li"' ----- -
1 M , ... i 1 J .tft.i
nets siowiy iiaruencu. muiui
.. -r,.ri to have pretty well ad-
S'.C-'"- . 1 1 o tn til nripo rMittinw
pfi '(l.CI,CO ..... (-. n
- ' . . . . .. . , 1 I , , 1 , nrin i i-nciH
Fasmg or the dividend
Porto Kico Sugar tailed to
. - . . . - rtoo n ' cpi . in ii r niikai
'lil iind thi? was a matter of some
fiance, sieeis auu uua w uuv
ViaH h(n vRtprdflV
ifliS ,nc "
"c . i i . T ttnna Tlicv
tn un'avoraoie uuc tunuiviuuo, "-j
w weak at the beginning, but bore a
With" the completion of the German
i,y ration! pavmeui. n.u tne ivicign r.v
rfnaiau . ii i . )ni,ht that tha Hp-
i frr American uouars in i-uniieuuun
, M-APk's break was removea oy me
: :rtcnr that the German Reichsbank
P-laivi ana trance, wiui me icueidi
-'t hsnk Ht New York. This made
t' Kaon ciicnAtorl t a t it
iiV the co version of German balance
.,, vniTican cionars as me int-uiuiii ci
,...,! Vor making the reparations set-
t,P'er.t. which broke up the recent over
valuation in sterling and francs
JLv-nr the violent reaction.
"The leader of the afternoon recovery
tpt.- wpr Mexican Petroleum. Stude-
v.r stppl Common and one or two of
trtiVf shares. The market in Stude-
r uw influenced more by yester
ta s favorable statement by the presi
nf the company than it was by the
c- 'i prices of the car announced this
P-Vrviis. Recovery in steel common was
no i-unt helped by the Iron Age esti
mat that the corporation is now operat
c at oS per cent. This, as well as the
:, tvr cent estimate for the independent
mmnnnies. was quite a bit above recent
TVa'.l Street calculations. However, the
n tisMfiration was made that incoming
business foreshadows a drop of 20 per
ffit before long for the entire steel
trade.
The ir.rhnations of an impending furth
er reduction in both prices and wages
were interesting, but scarcely told any-
ir.inj new.
i, sensation of the day was provia
Kin t ie wneai ph. wnere tne juiv oij-
tk jumped S cents on the bushel. This
cil'.'I not be set down, as was yester-
jJa;.'s upturn in May -wheat, to -elevetith
iemand from speculators, wno naa
to comrlete delivery before tne cioBe ot
e iii'jiuii. .Nor could it be ascriDed
iaitiae reports because the week-
r'.if,v m Hie weainer uureau was ai-
tctih r favorable in its discussion of con
(iiticns in the sprinor wheat belt, while
"stir.ia-.f-R put out by one of the best
known of the crop experts placed the
Iota! yield of winter and spring wheat
ut 4 4 .' "J bushels. The days opera
tions in the wheat market were the most
1'i.inz illustration yet given of the
vetuent which has come over the
;:ti:i ua.de position during the past
ii.ui.n.s. anu recovery in this vital quar
r is a thinr which must be reckoned with
ii any broad judgment of the financial
D'J'.lOOK
Paragraphs
BY RTlIATtT T irffar
Cpyrlbt,- 1931, by New, PubUaMng Co.
PREDICTING A CHANGE.
that the mar If to ia in lh miHot
of a turning movement was the opin
ion expressed In several of the big
houses this morning. The Idea was
that tills movement wnnM rnn.
ducted by groups, that certain groups
u.u aireany turned, while others per
naps mierht not Vi-ii- vt rnmni.t
their downward swing. It was felt
Thr.t motor sotcks had pretty well
discounted the price cutting in their
inuussry, as well as unfavorable divi
dend action, although In the case of
Chandler there was doubt as to how
outside holders would take the cut
ting of the dividend scheduled for the
meeting on June 6. As is usual when
tOcks are hins- m-onmnl atari trl !r
ke-t, it was anticipated, would be made
to look unattractive. The impression
would be ariven that thrf wa little
Chance Of inakinar mrmv on the lrmr
side and the public would be further
numnaiea ny recurring weakness in
Individual stocks. While keeping off
an outside following. Insl-lo arramn-
lation would, it was thought, go on,
preparing the way for a considerablv
better market toward the end of the
summer.
THE FERTILIZER BUSINESS.
The fertilizer business, takina the
country as a whole, is about sixty
per cent as laree as it was last vear.
according, to the head of one of the
larger fertilizer companies. The- fall
ing off has been due nartlv to the
cold weather, but more to the fact that
rarmers- have been in no position to
by. Prices are generally below re
placement value, according to this ex
pert, and manufacturers are carrying
over a large stock of materials in
most sections. It is expected that de
mand for ingredients will be rather
slow for next fall and spring. Goods
have been sold at a large loss.
MONEY AND EXCHANGE.
New -York. Tt " Prime mercan
tile paper 6 3-4 to 7.
Kxchange siroi.; .sterling GO day
bills and commercial 60 day bills on
banks. 3.86 5-8: commercial 60 day
hills, 3.86 3-8; demand, 3.91 1-8; cables,
3.91 7-8.
Francs, demand S.-16: cables 8.48.
Belgian francs, deuand 8.45; cables
S.47.
Guilders, demand 34.55; cables 34.65.
Liire. demand t.34; cablis o.36.
. Marks, demand 1.58;. i-toles 1.59.
Greece, demand 5.70.
Sweden, demand 23.05.
Norway, demand 15.25.
Argentine, demand 32.37.
Brazilian, demand 13.25.
Montreal. 10 3-4 per cent discount.
Government' bonds irregular; rail
road bonds Irregular.
Time loans steady, 60 and 90 days
and 6 months, 3-4 per cent.
Call money firm; ruling rate 7; bank
acceptances 6 1-2 to 7.
MBEHT BONO
New Yor', June 1. Liberty
closed: 3 l-2s, 8S.S4; first 4s,
second 4s, 86.83; first 4 l-4s.
second 4 l-4s, 86.92; third 4 l-4s.
fourth 4 l-4s, 86.92; victory 3
98.14; victory 4 3-4s, 98.16.
bonds
87.40;
87.50;
90.54;
3-4s,
"WHITE
FIGHT
PLAGUE"
PLANNED
BULLISH
REPORT;
CROP
MAYBE
But It Is Believed It Has
Been Discounted By Re
cent Advance.
By STUART P. WEST.
SinlT (.'onMDonilrnt of The New.
Copyright, 1031, by News Publishing Co.
New York, June i. rne action oi
the cotton market today sugpested
that a bullish government crop re
port tomorrow had been dtscountel by
the recent advance, two more prixai
roriorts werp issued. One of them
was a little more favorable than the
average, pointing to a condition or
68.8, with the decreasp in acreage 27.'.'
per cent, and a possible crop ot arouni
S. 000, 000 bales. Tne otner was practi
cally in line with ;-ccnt figures, piac-
the condition at bo.i, wnn a ueuec
of 30.8 in acreage, pointing to a crop
nf from 7,350,0U0 to .ouuu.uuu Daies.
On th average, all the reports pud-
lished during the past tew a ays
point to a condition report of 65.6,
vith a reduction or zv.t per iiu i
acreasre and an indicates yiei'i oi
around 7,500,000 bales. The govern
ments report tomorrow win not gne
the estimate! acreage or indicated
crop, but will give the condition as
of May 25, comparing with 62.4 last
year and 76.7, the ten-year average.
The ratner remarKarne unaiiuuiiy m
ml 1. . . . jn
private reports regarams me i-ui m
acreag has made an impression ju
sentiment, but even now many traders
are not inclined to .believe tnat tne
reduction will be as great as indi
cated. The question of yield on the
acressre r.i?.r.ted. appends on growing
conditions ana tne uiueiciitc
a favorable and unfavorable summer
and autumn may amount to as much
as 40 pounds per acre, or roughly
speaking about 2.000,000 bales on the
tv indicatei hv private estimates.
Generally speaking, prevailing conditions
were considered iavoraDie ana it i
belteved that the crop has improved
since Wednesday or last ween.
Liverpool showed no special feature,
trart there heiner restricted to a mini
mum by the continuance of the labor
troubles. The local marvtet openei
steady at a decline of three points
to an arivsnr of one point and sold
off to a net decline of 14 to 18 points
before th end of the rhorn'ng. There
was scattered Southern selling on the
decline, but most of the pressure was
attributed to realizing or liquidation
by recent buyers -and after easing orf
to 13.55 for October, prices raniea
few points from the lowest.
CHARLOTTE COTTON.
Receipts todya, 13 bales at
,11c
CITY ASKED FOR
PAR K-KEEPERS
Playground Commission
Requests Board to Pro
vide Funds.
E. L. Mason, of the Charlotte Park
r.d Recreation Commission, reauested
the city commissioners Wednesday to
employ two care-takers, one- for In-
fcptndc-nce Park and one for Latta
p"!k, cwiny to the luck of funds with
Mch thn commission itself may em-
P'-' V nif-n
The cornmissioners will investigate
4t ft'lvisiibilitv of cmnlovine cae-
takers for the parks and reach a du
wion within the next few days.
Jr. .Mason told them that people hi
nei-hi,orriond of the parks had ie
"ttcsteri care takers to insure their
"aintenance and keep out undesirable
might seek the narks as a re;5t-
'r,S place. (Jne care-talcer Is bcini
employed at Independence Park by the
W'nnuspion but as its money has giv
11 f ut he will have to be released un
c ino titv is willinsr tn nav his sal-
if VfllJ Will QrrrrLn .r 4..,, .
l"QSI)f-riflrw.-, rn.l. ...ill - J.. I
j x ai n win itriiiciui xiioi
,,Jr(Jt tiiink von will have mimh troll-
'Lpctting someone for Latta Pari:."'
i: thff lf-nlv "Wu'va o--. nvor .".01
wlitations for jobs."
"uperViRion of tho narL-ta pea,,1
of
v,., "-'uu 01 tne parKH
ntsuay when the resignation
'eati vlurri11- Jr., as park and reo-
'aw nleES tn? city employs care-';;.ls-
Mr. Mason told the bdard, tlf
M-S Wiil 1,Q,. , t-
. - L U gCt cllUJlg IVll-IIUllt,
"sion to insure their procc;-
e'iance.
"sint.
0M,T QUARTERLY DIVIDEND.
Hic(T Y'Jlk- June 1- The South Porto
,a,., ,sai company today omitted na
, mon stock, but declared the usual
i rpnt ri i j
f.. ui v 1'irTiii fin Tirni prr(i i in
Uirir.,; . fjf sugar and unsettled con-
r '-'tne market were asslgnci na
iot the omission.
paul Arrington & Co.
Manufacturers
Cost Accountants
Audits Systems
Investigations
2l7 Piedmont Building
0ne 653. Charlotte, N. C.
Permanent Organization
Will be Formed at Meet
ing Set For June 9.
Permanent organization of the Meck
lenburg Tuberculosis association will
be effected at a mass meeting of citi
zens interested in the fight against the
disease to be held the night of June-
9, according to announcement made
following a meeting Tuesday night of
a special committee in charge of or
ganization details. Tho place for the
meeting will be announced later.
All citizens who are interested in an
organized fight against tuberculosis in
Meck!enburg county will be urged by
those leading in the movement to at
tend the meeting. Permanent officers
will be elected at that time, a con
stitution and bi-laws adopted and plans
formulated for the immediate estab
lishment of a permanent open air camp.
The official name of the organization
chosen by the special committee Tues
day night is the "Mecklenburg Tuber
culosis association."
A group of about 25 men and wo
men or the city ana county are m
charge of organization plans, while a
smaller committee is making detailed
arrangements for the association. It is
proposed to take into the membership
all citizens of the city and county in
terested in the work. The organization
will be permanent .and the open-air
camp will be permanent, both being sup
ported by public donations and private
subscriptions.
In commenting on the movement W ed
ne3day morning. Dr. W. A. McPhaul,
city health officer, said that the asso
ciation' is greatly needed in this coun
ty especially for work among negroes.
Health records showed that 65 deaths
occurred in Charlotte last year from
tuberculosis while 23 have died from
the disease thus far this year.
HMe expressed the belief that an or
ganized campaign against the disease,
. . i j:l.M.,,tlnn f
including me uibuiuuhwu "t-c o-t-ui -,
free medical assistance for tubercu
losis patients, a permanent open air
camp and professional advice on pro
tective measures would aid materially
in reducing not only the number of
cases ot tuberculosis but also the num
ber of deaths.
STILLMAN DIVORCE
HEARING PUT OFF
Toughkeepsie, N. Y., June 1. Hear
ings in the divorce suit instituted by
James A. Stillman. New York banker,
against the former Fifi Potter, were
postponed today unui June ., o u.nu a,
Tho nostDonement was requested by
col for Mrs. Stillman, who said she
was ill at her home in New York and
iiiot nti of her attorneys could not
take part in any proceedings this week
hr.anc:p fn other engagements.
Mr. Stillman's counsel opposed the
emotion to halt the hearings. They an
nounced the banker was opposed to any
further delays and intended to carry
his fight.
Both slde3 denied that the postpone
ment wae made for the purpose of car
rying on negotiations, for ,a settlement
of the suit out of court.
NURSE IS ADDED TO
CITY HEALTH STAFF
Miss Elezena Rankin, a graduate of
the Charlotte Sanatorium Training
school for nurses, has been added to
the nursing staff of the city health de
partment, being assigned to tubercu
losis work. Miss Rankm began her
duties Wednesday. She succeeds Miss
Catherine Ardaugh, who resigned about
three months ago to accept work in
CaM?ssa'Rankin is a graduate nures of
experience. She has been engaged in
private nursing fOR some months. For
a short time last year she was with
the nursing staff of the local health department.
NEW YORK COTTON.
Vw Vnrlr. .une 1. The COtton
market was comparatively quiet and
rather irregular during today's early
trading. Another private crop report
was published placinp: the condition at
i anri thp reduction in acreage a
mVi nvor SO ner cent with an indicat
v-iirf nf 7.500.000 bales. Ther were
alo "comnlaints from Memphis that
the crop was beginning to need rain
in snmp spotions and reports of boll
weevil damage from Georgia but these
Hdviees failed to create any general
V, 1,-1.-1 T, 15
After openins: steady at a decline of
.. joints to an advance of 1 point
active months sold some 4 to 5 points
below last night's closing. The Soutn
was the chief seller on the decline to
12.88 for Julv and 13. 6o ior uctooer.
'n frpsh feature developed durin
the middle of the afternoon and trad-
ins- rmine"l - ouiet with October rul
ing around.-13.57 and July 12. SO, or 12
tn 1S noints net lower.
The reiort of a local authority
making the condition 68.8 with a, - re
riiiftion of 27.9 ner cent in acreage an
suggested crop of 8,000,000 bales, was
less bullish than the average of re
nent ffla-nrs. This nrobablv helitd to
cheek fresh buying and the action of
the market suggested that low end
Mav condition figures had been pretty
well discounted.
Prices eased off in conseouence as a
i-Asiiit of scattering- liquidation and
Southern selling with October selling
down to 13.55 or 14 points net lower.
Tlis weeklv report of the xveathe
hurpiui was considered favorable and
prices were at about the lowest point
snortly aner miaaay.
CLOSE NEW YORK FL'TITRES.
New York, Jpne 1. The cotton mar
ket closed steady.
Open High Low Close
.Tnlv 12.95 12.97 12.72 12.
Oct. 13.67 13.69 13.45 13.50
n.f "14.06 14.07 13.90 13. !H
.Tan 14. IS 14.21 13. 9S, 13.0!
March .. 14.50 14.50 14.37 14.30
KAV YORK SPOT COTTON.
New York, June 1. Cotton: Spot
quiet; middling 12.90.
NEW ORLEANS COTTON.
New Orleans. June 1. After au
vances of 2 to 3 points on the openins:
call todav the cotton mamet ien on
for small declines and at the end o
the first hour of business stood 8 to 9
points under the close of yesterday,
under selling stimulated by favorable
weather conditions over the belt. July
traded up to 12.50 and then fell off to
12.39.
The weekly crop reports from the
government were sc'newhat better
thin expected and selling increased.
Offerings were also sti-ruilated by re
ports of a cotton mm strme in
sections of the Atlantics. In the
trading up to 11 o'clock July dropped
to 12.31 and prices went 16 to 18
points under the finals of yesterday.
The late trading brought scattered
selling but the market plainly was
supported by expectations of an un
favorable report on conditions tomor
row. The consensus of opinion ap
peared to be that the igTes would
come in around 65. to 66 per cent of
normal. Toward the close prices were
at net losses of 17 to 20 points with
July at 12.30.
CLOSE NEW ORLEANS FUTURE.
New Orleans, June 1. The cotton
market closed steady at net decline of
1 6to 20 points.
Open Hi.rh Close
July 12.46 12.50 12.30 12.31
Oct. 13.23 13.24 13.02 13.02
Dec' 13.56 13.57 13.37 13.38
Jan 13.67 13.60 13.58 13.4S
March 13.97 13.92 13.83 13.83
NEW ORLEANS SPOT COTTON
New Orleans, June 1. Spot cotton
quiet 13 lower; pales on the spot 360
bales; to arrive 119.
Low middling 9.25; middling 11.75;
good middling 13.25. a-
Receipts 1,410; stock 41o,287.
r
Wall Street
New York. June 1. The stnk mar
ket was Inclined to mak further eon-
cessions to professional pressure at the
opening of today's session. Oils, mo
tors, steels, coppers ana toDaccos ad
ded to yesterday's reversals, but with
a few unimportant exceptions losses
were restricted to fractions. - Rails
made no appreciable response' to the
wage reduction announced by the
United States Railroad Labor Board.
Before the end of th-j first half hour,
however, the market became distinctly
heavv, Crucioie ftieei iaiung nearlv 3
points and United States Rubber 1 1-4,
massing or me uivj:ienq on soutn
Porto Rico Sugar exerted no adverse
effect, having ben discounted in yes
terdays severe aecnne. Motors were
under increased pressure. however.
Pierce-Arrow preferred falling almost
nve points to a. new low. Liinerty
3 1-2 Der cent bonis alao establishel
a new minimum at a fraction under 87.
Sales ppproximateiy 57o.000 shares.
The closing was irregular.
NEW YORK STOCK LIST.
Last Snle.
Allis-Chalmers 31 3-4
American Beet Sugar ?6 1-2
American Can .. .. .. .. .. 29 7-8
American Car & Foundry .... 123 1-4
American Hide & Leather pfi
American International Corp..
American Locomotive
American Smelting & Ref. ..
American Sugar
American Sumatra tobacco ..
American T. & T
American Tobacco Sec . . . .
Anaconda CoPPr
Atchison .
Atl., Gulf & W. indies ...
Baldwin Locomotive . .
Baltimore & Ohio . .
Bethlehem Steel "B" ..
Canadian Pacific . .
Central Leather . . . .
Chandler Motors . .
Chesapeake & Ohio . .
Chicago, Mil. & St. Paul
Chiaago, u. l. & t&c.
Chino Copper
Colorado Fuel & Iron . .
Corn Products
Crucible Steel
Cuba Cane Sugar . . . .
Erie
General Electric .. ..
General Motors . . . .
Goodrich Co
Oreat Northern pfd . .
Great Northern Ore ctfs
Illinois Central . . . . J. .
Inspiration Copper . .
Int. Mer. Marine pfd . .
International Paper . .
eKnecott Copper
Louisville & Nashville
Maxwell Motors
Mexican Petroleum . .
Miami Copper
MiddU States Oil . .
Midvale Steel . .
Missouri Pacific . . . .
New York Central ..
N. Y.. N. H. & Hartford
Norfolk & Western .. ..
Northern Pncific-
Invincible Oil . .
Oklahoma Prod. & Ref. . .
Pan American Petroleum . .
Pennsylvania .. .. v.
People's Gas
Pittsburg and West Va. . .
Ray Consolidated Copper
Tleading-
Rep. Iron & Steel . .
Royal Dutch, N. Y. . .
Shell Trans & Trad . .
Sinclair Con. Oil
Southern Pacific .. .. ..
Southern Railway
Standard Oil of N. J., pfd
Studebaker Corporation . .
Tennessee Copper . . .. ..
Texas Co. '. . .... ....
Texas & Pacific
Tobacco Products
Transcontinental Oil .. ..
Unio nPacifie
U. S. Food Products .. ..
U. S. Retail Stores .. . . ..
U. S. Ind. Alcohol ..
U. S. Rubber
U. S. Steel
Utah Copper
Westinghouse Electric . .
Willys Overland .. .. ..
Pure Oil . . . . . . .
Atlantic Coast Line ....
Coca CcTla j. .. .. .. ,.
Gulf States Steel ....
Seaboard Air Line
Sloes, Shef. Steel & Iron
United Fruit
Virginia Caro. Chem. ....
American obacco
American Zinc .. .. ..
General Asphalt .. .. ..
53 1-2
45
S4
42
84 7-?
60 1-4
104 3-8
72 3-4
40 1-S
81
37 1-?
52 1-2
40 7-8
56
111 3-4
37
62 5-8
58 3-8
28
33 3-8
24 3-4
30
68 1-4
65
17 3-S
14 1
133 3-4
10 5-3
36
68 1-4
23
90
34 3-8
53 1-2
68
20 3-8
100
4 1-4
149
22
13 1-4
27
2
69
19
95 1-2
71 3-"
16 3-4
2 l-i
68 5-8
35
51 1-2
29
13 5-8
72 3-3
55 l-i'
59 1-4
41 7-g
23 1-2
75 1-4
20 7-8
106 5-8
72 1-4
8 l-H
35 3-4
23 7-8
56 1-2
9
118 1-2
19 1-4
59 1-4
65
67 1-8
SO 1-4
53 1-8
46
8
31 '
80
S3
34
6 l-i
38 1-,
108 1-4
29 1-4
126
9
68
j Livestock j
Co-vriirht tl. 1r Nw PnblUhinr Co.
Union Stock Yards, June 1. LLight re
ceipts, following- the Monday holiday,
brought sharply higher values at the open
ing of the present week's trade, but
sellers were not able to hold values in
all branches of the market today. Big
packers quit early yesterday, and more
than 10,0 DO hogs ttere held over for to
day's trade. Shippers bought some light
hogs a dime higher early today, but the
large houses again held back and the
tratie weakened. In the sheep house, the
market also was uneven. Choice Cali
fornia spring lambs made fully steady
values at the opening, but demand for
other sorts of stock was slow.
Receipts of live stock at the local yards
today were estimated at 11,000 cattle, 17,-
uuu nogs, 14,000 sheep and 2.500 calves.
Cattle trade was slow to start with.
but sellers were' willing to call values
steady. home yearlings sold at $9.25,
while one lot or steers, averae-ins- cIorp.
to 1300 pounds, went at $9.40. Cows and
heifers alfeo made about steady values
after a very slow start. Choice heifers
were placed at $8 to $8.75 with best
cows at $7 to $7.40. Calves sold well,
ttig packers paid $8.50 to $8.75 for good
vealers, while best lots were placed at
$9 to $9.25.
Hog market opened steady to 10 cents
higher but packers refused to follow, and
vaiues were only aoout steady alter the
first few rounds. Choice licht lots sold
at $8.20 against $8.15 for top lots yes
terday, nougn packing hogs sold at
$6.75 to $7.25. It was a generally steady
market for light butchers and these were
well sold.
heep and lambs were slow from the
start. Demand was not urgent early in
the day. but there was a better tone late
in the session. Native spring lambs at
$12.75 looked strong while best Cahrornia
stock went at $13.15. Steady prices were
obtained for aged muttons, but the trade
was a little slow. Good ewes went at
$4.25 Shorn lambs again made $12.00.
Receipts of live stock for the week thus
far stand: 21,449 cattle, 38,605 hogs. 20.-
797 sheep, against 43,305 cattle, 104.014
hogs, 48,92$ Sweep the first three, days last
wee- uiu iu.iou caiue, iu,ui4 nogs.
34,488 sheep the corresponding week lust
year.
Copyright 1921. by News rsblishin . Co.
Chicago, June 1. Wheat displayed ad-
GROCERS TO GATHER
FOR FINDLAY'S TALK
LIVERPOOL COTTON.
Liverpool, June 1. Cotton: Spot slow
sale; prices easier; good middling
8.fi3; fully middling 8.18; middling
7.53; low middling 6.53; good ordinary
S.28: ordinary 4.53.
Sales 2,000 bales, including 1,800
American. Receipts none.
Futures closed easy. July 8.18; Oc
tober 8.57; December 8.73; January
8.80; March S.SS. .
CHlCAUt rOTATOEf.
Chicago, June 1. Potatoes, old
steadv; northern white sacked an3
bulk 50 to 65 cents ewt;..new stronger;
South Carolina cobblers 5.25 to 5.50
barrel; Virginia 5.75.
Plans for forming the grocers of
Charlotte into an association which has
been attempted once or twice before,
are expected to be carried out Friday
night, June 17 at the court house, when
grocers from all parts of the city are
expected there to take part in the
plans. The event of the occasion,
aside from the consideration of plans
for organization, will be the presence
of Paul Findlay, retail merchandiser
of the California Fruit Growers Ex
change. Mr. Findlay is widely feown as a
writer on trade topics and during the
last eighteen years and was actively
engaged in the grocery business for
thirty-six years. Mr. Findlay will ex
plain, it was stated in the announce
ment from the Charlotte Merchants'
Association headquarters Wednesday,
how it is possible to realize 300 per
cent annual profit on capital employed
in sales of oranges and lemohs "with
out the suspicion of profiteering, by ap
plying practical methods of selling ac
cording to correct margin.
The first real get-together meeting
the grocers of Charlotte ever had will
take place when they assemble. In
addition to the address, there will be
brief addresses by one or two Charlotte
men, who have been conspicuous fig
ures in the grocery life of the city.
.... , . . , - - - I, cY I VI IV, dune l.- IW'UXJ O IJUlill inai
ditional strength today. All of the -crop ket wgs mi,1 up of series 0f cross
experts issued bullish estimates on w4n- ,l currents, which carried some issues up
ter wheat and the buying power -which f their high prices of the year, while
v,. , ! forcing others down to their lowest. The
,MUllcu "icic i.vm ' I victory 4 3-4s made a nev nign at tne
The estimates on winter wheat ranged merant, when the Liberty 3 l-2s were
making a new low. The explanation
fftm U1m tn Arm.0 Vit
bushels and of spring wheat from J45.000 emje : iefris,ation is expected to make the
000 to 275,000,000 bushels, or , xl total tax-erapt bonds, like the libery 3 l-2s.
wheat crop ranging from 844.000,000 if;ss atractive. un tne otner nana, tne
bushels to 870,0000.000 bushels, compar-; thHr market nrtcrirbeins-determin
ed with a crop of 787,000,000 bushels , ed' by this consideration.
harvested last year. The break of nearly The feature is the foreign government
30 cents in cash Wheat premiums was srroun was the continued strength in Jap-.
overlooked because of the preponderance anese' issues. The first and second 4 l-2s
of bullish sentiment and the only seelllng ; went through their former top and sold
was by longs tor proms, aituuig .oetnanci at 85 1-4, while the four per cent ster
for .cash wheat was slow, while export-. ling loan equalled its high of 69. Mexican
ers are out of the market. " i government 5s came down a point to 50.
Bullish sentiment developed in corn be-; Kelcrian 6s. of 1925. rallied slightly, fol-
cause of the strength in wheat and good ; lowing the recover yin franc exchange,
gains were established in the coarses cer-; but other Belgian issues were stationary,
eal. Offerings were light Goodman esti- Swiss Ss, at 102 3-4. were a trifle low
mates the acreage of the - crop at . ,5. 5. er. City of Paris 6s held up to the 99
per cent, above last year's, because or j level, while City of Copenhagen 6 1-28
planting in the cotton states. Receipts gained a fraction t T5 3-4.
were still heavy but cash .basis was tin-. Railway bonds were quite as unrespon
changed. Shipping demand was poor and , siVe as railway stocks to the 12 per cent
despite the fact that lake vessel room ; wage reduction announced by the labor
was offered 1-4 cent cheaper at 1 1-2 j board. In fact, some weakness developed,
cent to Buffalo, failed to stimulate busi- especially in Union Pacific 6s, which went
ness with that port Crop news generally down a half point to 97 3-4, in New York
ia ingulf iittui auic. . i central 03 Oli a, annual aiiiuunt 01,
Oats were affected by the strength in . and Bis- Four 6s down over a point to So
other grains as well as the bullish crop 3.9. For the two last named these prices
advices. Estimates by Goodman,- mow vrere the lowest of the year. It was evi
and Cromwell issued today, are for a dent that the reluctance of money rates
crop ranging from 1,321,000,000 bushels to work lower, along with the competition
to 1,384.000,000 bushels against a yield of of new capital issues, is of more conse
i;526.000,000 bushels, harvested last. year. t quence as an influence in the bond mar
Receipts were smaller. Shipping demand : et than improvement in earnings, and
CHICAGO LIVESTOCK.
Chicago, June 1. Cattle: Beef
steers slow, steady to 15 cents higher;
top beef steers 9.40; choice light
yearling steers and heifers 9.25; bulk
8.00 to 8.75: fat stock, bulls, stockers
and feeders slow, about steady, bulk
butcher cows and heifers 5.25 to 6.7 n;
canners and cutter cows largely .
to 3.d; ouiis largely 4.&0 to 0.70;
calves 25 cents higher; bulk vealers
S.00 to 8.50.
MOgs: teiow, steaay to 10 cents
higher; mostly steady; lights and me
diums well sold; top 8.20 early; bulk
7.80 to 8.10; pigs stron" to 10 '-"its
higher; bulk desirable 8.00 to 8.10.
Sheep: Active, mostly steady; j.e'.v
native springs . 25 cents higher; shot
lambs
13.15;
top 12.00;
iiornia springs
bulk native springs 12.00 to
4.0; duik rat ewes to 4.00
Grain Market
C U R B
BONDS
$OCKS
Bond Market
By STUART r. WEST
Copyright 1021, by ?Tews rnbKshiar Co.
New York, June 1. Today's bond mar-
was moderate.
Provisions were exceedingly dull. Anti
cipation of a further big increase m lard
nrosnctive reduction of costs.
The industrial list developed some weak
spots, reflecting teh unsettled conditions
stocks inspired sales of that product, but in the sucar trade. Cunban-American Su
buying on the grain strength absorbed the gar 8s dropped off nearly a point to 100
offerings. Price changes were no conse-1 1.4, while Cuba Cane Sugar 7 s lost neaf-
quence. jly a point and a half to 80, the previous
waeat closed 1-2 cents nigner ati0w. Cerro de Pasco 8s came down over
$1.37 1-4 to $1.37. Cash premiums ' a point to 108. Packard Motor 8s lost
at the close were 23 over puly for
number 1 hard. ExDorters bid . 30
cents over July c. i. f. for hard winter
wheat for nearby shipments. corn
closed 1 7-8 cents to -' lr8: cents
higher; July 06 5-8 to ,3-4; September
68 3-8 to 1-2; oats 1 1-8 to 11-2
cents higher; July 42 to, 1-S; Septem
ber 43 3-4. Cork closed 30 cents
up; lard 2 1-2 to 5 cents up and
ribs 2 1-2 to 5 cents up.. Local
cash sales were 20.000 bushels of
wheat. 10.000 bushels of corn and
80,000
three quarters of a point to 9 61-2 and
United . state Rubber 7 -1-28 were not
quite a point at 98 1-4. '
L
Curb Market
f tiihpl nf on?l
MAY BUILDING OFF,
REPORT INDICATES
CTIICAGO PROVISIONS
Chicago, June 1. Butter lower;
creamery firsts 22 to 26.
Eggs lower; firsts 21 1-2 to 21 S-4.
Poultry, alive higher; fowls 24;
broilers 40 to 45.
NEW VORK PROVISIONS.
New York. June 1. Butter firm;
creamery firsts 26 to 28 1-2.
Eggs firm; fresh gathered firsts 2
1-2 to 27.
Cheese steady to firm; . average run
14Ltive1 poultry weak; turkeys 20.
Dressed poultry, steady; western
chickens, boxes 25 to 50.
suottt '
' New York. June 1. Raw sugar
market unsettled at 5.25 for centrifu-
gaReflned- steady;- at -6.30. to 6.60 for
fine granulated.
Building activities in Charlotte slack
ened during May, reports of the city
building inspector, R. P. Connelly, in
dicated. Permits were issued last
month for residences and business
buildings aggregating $135,417 about
$100,000 lesa than during April.
The permits called for the erection
of 26 residences, ranging in cost from
$2,000 to $12,000. The average cost
of new residences amounts to about
$4,000. The largest permit during the
month was for the rehabilitation of the
Dowd building on West Fourth street.
Actual construction work on the build
ing will cost $25,000. Wne-n complet
ed it will be occupied by the chamber
of commerce and other organizations.
SUPREME COURT WILL
NOT REVIEW APPEALS
Washington, June 1. The Supreme
Cour to3ay refused to review several
cases from Georgia courts involving
claims brought by negroes In real es
tate suits. In filing application for re
view, J. E. SistrUnk, of Atlanta, coun
sel for claimants, asserted that his cli
ents were unable to secure justice in
the state courts because of race dis
crimination. REFUSE WRIT SUPERCEDEAS.
Washington, June 1. The Supreme
Court today refused the petition of the
American Hardwood Manufacturers'
Association for a writ of supercedtas
to serve as a stay against the injunc
tion obtained by the government to pre
vent its members from . exchanging
price information.
FORMER RABBI
SCORES "ISMS"
" - a . it'. " ' ' ' .
Dr. Goldman, Here to Lec
ture, Watched Bolshevist
as They Murdered.
Hearing1 the screams of his entire
family as they were murdered by the
bolsheviks, standing in water up to his
arm pits in his cellar for three days
with an only surviving son, witnessing
the most gruesome murder and pillage
in history these experiences and more
have mussed the body and soul of Dr.
Joseph Goldman into a flaming torch of
bitter hatred for a people whom he
characterizes as worse than the lowest
scum of the earth. Dr. Goldman, who
was a Jewish rabbi in Russia and a
native of that country for 55 years will
speak at the Second Presbyterian
church Wednesday night, selecting as
his subject, "Palestine Its Present,
Past and Future."
Pointing out the I. Wr. " as direct
agents of the bolsheviki with head
quarters in Moscow, Dr. Goldman de
clared: 'They are the paid agents of bolshev
ism, anarchists of the lowest type, I
know. I have been warned by them
to cease my attacks upon them, but un
til I die my whole being will be center
ed in one fight to wipe them off the
face of the earth. They are conspir
ing- this minute to overthrow the gov
ernment of the United States and in
flict their hideous customs on the peo
ple. Ideas conceived 5,000 years be
fore civilization are in their brains, ig
norance, filth and rottenness fill them
to the core. I shall fight as long as I
live to break them to pieces." -
While in Los Angeles recently, Dr.
Galdman came near assassination
twice. At one instance a man approach
ed him in a hotel and asked if he were
Dr. Goldman. Upon being answered
in the affirmative, the man hissed:
"We will kill you yet."
With the help of the police the man
was caught. He turned out to be one
of the most dangerous radicals in that
part of the country. Twice Dr. Gald
man was shot at while in the city.
In telling of the murder of his fam
ily. Dr. Goldman stated that it occur
red soon after the fall of Kereisky,
when the bolsheviki siezed the govern
ment. Dr. Goldman lived in Bessar
abia in a town called Kiehenof, which
was pillaged by the bolsheviki. 'Hun
dreds of Jews were slain. His wife
and six children were murdered before
his eyes. He escaped to the cellar of
his home with his only remaining son.
The bolsheviki turned water into the
cellar and thought that they had drown
ed him. But for three days and nights
he and his son stood in water up to
their arm pits without food. Finally
in the night they escaped, made their
way eventually to Japan -and later
tame to America. Dr. Goldman has
devoted his life in America to warning
the eoplc of the bolsheviki danger and
the radical activities.
- Soon after he arrived in this country.
America entered the war. His only
remaining son enlisted in the 91st
division and became a first lieutenant.
He was "killed in Btileau Wood in ac
tion. Dr. Goldman 5s "now the only
surviving soul of his famil5. But h-3
is proud of his sen, and exclaims:
'Oh, I don't regret it. What better
cause' could he have given his life for?
No man can say my son was a Grover
Bergdoll. Those who give their lives
for such a cause never die."
-Dr. Goldman refused to accept the
insurance due him from the govern
ment for the death of his ,son. and the
entire amount went toward the erec
tion of a monument for him. -This
monument has been completed and now
-stands over his grave.
According to Dr. Goldman, a war
more terrible than the recent great
world'war is destined to break out in
Europe within the next six months. He
believes that the spread of bolshevism
will Hhrow the whole of Europe into
turmoil. He thinks that the United
States knows that it is going to hap
pen, and that this is the reason they
are closing the immigration doors.
"Mark what I say," he exclaimed.
"Remember when this terrible war
breaks out six months from now that
I Rabbi Goldman told you it was going
Chicago, June 1- Wheat advanced
readily in price today, influenced for
the most part by absence of any ag
gressive selling. Opening quotations
ranged from 1-2 to 1 1-2 cents higher.
Corn was firmer, opening 1-4 to 3-4
cent net higher. f
Oats reflected the course of other
cereals.
Higher hog values tended to, lift
provisions.
Wheat closed strong 8 1-1 to -8 W
cents net higher. . ; : " . " -
Corn closed firm 1 7-v8 to 2 1-4 cents
net higher. .
CHICAGO GRAIN AND PROliUCE.
Opn High Low Close
WHEAT
Julv 1-29. 1.37 1.29 1-37
-TTV
.... 6o
66
67
68
65
66
66
68
42
4351
17.05
9.47
9.80
July
Sept
OATS
' Julv 41 42 41
Sept. 42 41 43
PORK
July
IARD -,- - -
July 9.55 9.55 - 9.42..
Sept. ..... 9.80 9.85 9J5.
':IB53
Julv 9.60
" CHIC.4CO CAflf GIU.
Chicago, June 1. Wheat, No. 2 red
1.55 1-4 to 1.65 1-4; No. 2 hard 1.53
3-4 to 1.55.
Corn. No'. 2 mixed 65 1-4 to 66 1-4:
No. 2 yellow 65 to 66 3-4.-
Oats, No. 2 white 40 1-4 . to 41 3-4;
No. 3 white 39 3-4 to 41 1-4.
Rye, No. 2, 1.49 1-4.
Barley, 62 to 72.
Timotbyseed, itiO to 6.09. :; "
Cloverseed, 13.00 to 18.00.
Pork, nominal.
Lard, 9.22.
Ribs, 9.00 to 10.00.
NAVAL STORES.
Savannah, Ga June I. Turpentine
steady 54 to 54 1-4; sales 500; receipts
257; shipments 1.899; stock 7,670. . -
Rosin firm: sales 301: receipts 59G;
shipments 2,891; stock 75,724.
yuote: ts 3.50 to co; u z.iv; n, v
3.80; H 3.90; I 4.00; lb 4.60; K 4.60:
M 5.25; N 6.25; WG 6.25., to . 75i WW
7.00 to 25. -
Bt STUART P. .WEST .
Copyright 1921, by News Publishing Co.
New York, June 1. 'fliers was an
other dull session on the curb today,
with the trading again largely in the
hands of the professionals. . As a mat
ter of fact, dealings were even smaller
than yesterday. As an indication of
the small amount of business, the first
sale in Glen Alden Coal was made
after one o'clock at a small frac
tional loss, with a second transaction
later, showing a decline of n point
from the previous close. Delaware,
Lackawanna and Western rights also
'reacted--a -point, with the only transac
tions coming. late in the day.
The tone of the general market
was uncertain with most of the trad
ers giving their attention to the min
ing list. National Tin was slightly
lower for a time, but rallied sharply
on the announcement that the com
pany would resume operations next
Monday. A force Is being organized
now to start work on the Tin Boom
mine, where xthe richest ore is located.
Recla Divide reflected favorable advic
es . from the property and Florence
Goldfield also acted better on reports
of improved showings at the mine. .
. ; Unite! Retail Candy was in mod
erate ; supply, and receded because
bids were lackintr at times. There
were offerings of Sweets Company
Cft i at -.ower levels ror the nrst two hours,
"-!;!;: but lster inside supporting orders
''icame in the market and a .steadier
' tone developed. The motor stocks
were practically neglected although
quotations generally were slightly
lower.
. Little was to be said of the oil
group. Maracaibo, which was steady,
was the exception to th sreneral
jtrend. Recessions of fractions were
recorded in htandard Oil of Indiana,
Merritt. Skelly, Producers and Refln
ers. Elk Basin and a number of oth
ers. ('Simms Petroleum was in supply
at tb start and reacted slightly.
but a demand developed which caused
an auvHiive ul ueariji a point irom tne
early low. - ,
C SILVKR.
New York, June 1. Bar., silver, do
mestic 99 1-4; foreign 57. 3-4
Mexican dollars 44 1-4.
COTTOXSEF.O OIL.
New York. June 1. The eottonsel
oil market closed steady. Prime sum;
mer yellow unquoted. Prime crude
5.25 to 5-50. June 7.40; July 7.47; All-
trust 7.o; septeniDer i.tv, uctooer f.sa;
November 7.85; December 7.90; Janu
ary 7.91.
t otal sales 7,uoo.
to happen. I know what I am talking
about."
In Russia .continued Dr,; floltiman.
each bolshevik has a red card which
proclaims him to be a bolshevik. When
ever he warts anything from the peas-
:its, he presents the card and if he
doesn't get what he wants, he is allow
ed to munler tho peasant. It' if? the
l.ure ignorance of the peasants which
makes oolshavism prosper said Dr.
Goldman.
The teachings of the bolsheviki, he
said, inclf.de the plan to nationalize
ndustry, eliminate religion :". and ' the
press and place the population of the
country under state controls; jmde-r
!hi system, no m-in will receive mon
than nnoth'T for the amount of work
he does, regardless of the responsibil
ity, ability required or - preparation.
Money will be eliminated and commod
ities distributed by the state. Mar
riages will be done away with "and a
return of the "cave man" theory of
sexual relationship expected.
Dr. Goldman believes that bolshev
ism will never thrive in America, for
the people are too broad-minded jovial
and optimistic, he said.
He will speak at the Y. M. C A. Sun
day afternoon at 3 o'clock." His sub
ject will be, "The Inner Life- of Rus
sia Who arc the Bolsheviki?1
Dr. Goldman was brought to Char
lotte by James Pharr, of this city, who
heard him speak recently in New York
City.
EVERYTHING
In HigLQuality
Building Materials
NOTH ING satisfies
like satisfaction. We
realize that. We have
tried to build the very
heart of our organiza
tion around the aim of
giving our customers
complete satisfaction.
Have we succeeded ?
With you lies the an
GITIZENS
Lumber Company
South Boulevard
Phones 3472-3473
EVERYBODY
Why not be a conservative - farmer, makes no difference whether
you live on a farm or in town? "You can buy any size crop as lov? as
ten bales of cdtton or one thousand bushels i of grain for less than
you can produce it, and at a minimum carrying charge.
We have in our office ROSE & SONS DIRECT PRIVATE WIRE
to New York quoting STOCKS, COTTON and GRAIN at every flash.
Orders Executed by Ua Direct, in .
COTTON, Ten bales ;hd ..upward. '
- GRAIN. One thousand bushels and upward.
STOCKS, Ten shares 'and upward.
AH Accounts Carried Directly , With Rose & Son, Who are Financially
' - Responsible to Clients.
Your patronage is solicited and our very best, services are at your
command. -s . ''
J. RANSOM ETHERIDGE, Broker
Local Phone 4482
2714 West Fourth St.
Postal Phone
Long Distance Phone 9983
CHARLOTTE, N. C.