Newspapers / The Charlotte Observer (Charlotte, … / June 14, 1921, edition 1 / Page 17
Part of The Charlotte Observer (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
THE CHARLOTTE NEWS, CHARLOTTE, N. C, TUESDAY AFTERNOON, JUNE 14, 1921. '17 GRAIN- ARKET QUOTATIONS; , FINANCIAL NEW THE MOST COMPLETE MARKET PAGE PUBLISHED IN THE CAROLINAS. EDITED BY STUART P. WEST For 15 Years Financial Editor of The New York Globe. CURB COTTON- BONDS LIVESTOCK- TOCKS UPTURN STAGED r I IN INDUSTRIALS Railroad Stocks Also Par ticipate Somewhat in the Buying Movement. H, TLAKT P. WEST. -Mart ( rrf spindent of The evr. vricM. J-i y News MbIalin Co. foP tree. New York. June 14. Wall yes!'"' V, ahM a turn were borne '""'tV todav's price movement. Thi vfcr indiscriminately to th J. Ul e I here wei e i".?--' i weakness which were 1 - . 1 . . . . ;f;:i'll r.;w- - that a ws in the shape ot dividend 1 ...lilt earnings reports, still ;e! ', greater part of the indus ami a fair percentage of :rH:,, . entinued to rally through ' . , .:; part of the day tn a manner ..'' that the speculative cain- ' 1 ? ',uver prices had been sus--'v-i'isc the experienced opera -!,:i;ti' k of it realized that they T Willi luiliuuauic - we: f " the recovery was held in , i .,11 vnrn Tacific and Great Northern 0. I -If' , ,,,.ann tori Wull re irt cast mai in-i raie 1. 1 on ooin uies-e siih-ks win It was significant that 'e t. .1. ...-....Viofl rrirs whifh tint a level with other old line 1 .. v:ns ? per cent. : ' "iv'dkness in the Hill -hares .' el -onie ?fllinr of other rails dur ' "' t'ip' first hour. Then tlio buying '' -j ui-tivelv rent: v'viil in tlie : '.-.t-vi'ii stocks which had le i the iv ay 1 ' . . 1 f 1 . i n i p t .t 1 1 tui, iuexi .in rt?- At ' ...... 1 T njt'nAi. ti tnhuipc 'lA s('vvp ot The American oil. Creels went along with th rest, Time perfunctorily. :: tr uii1 Mtuations sun nppeir soiiif :T of the turning point. incident in tnc news or a turtner reuuction n; ine ,:ie- rate, this time to nve ana -ui. inien action nas oeen 1 i i 'Wt'll . I" L'e SUIT, fl.v LUC iivt .-t'er.rVs of this class of funds in th.; i 1 e i:?.rUet as low as inc per t.tri.i. the clav before the hci'.vy V. .nf-nt and distribution of !ib 1 ui-Mil interest it was i rather kub'.e development. A fortnlnt "t'-.'-e were many who .verv pre '"insiderable of a strain over 3 -rt v If v. The explanation for the rtr of t'.iP money rate is three-told. that " v 1 .is t i interior nanus nave oeusei )vn their New York bal iev were doing at the out month, second, that funis some of the recent svndi- e: 1,'vr'iisj have now louna ineir in.k 'to active use and. third, ia; the credit supply has been in-'i.,.;-; t he liouidation and ho ivy ';! uii the stock exchange. W;t frcm the h 1-2 per cent 1 .... 1. . 1 . . . ;,.i:icv rale, trie wnoie inieresL ip" :ttrted in the reversal in the !:utrket. Improvements spread !- hut only sliglitly. The for- ;i:iiinces continued their recov- t e:o still not at all sure of tr.e :ro'.;n! in view of the uncer- f whether the transfer of V, this country in connection w:t:t t ha.' ii- (ierinan reparations payment a cnipIf'tcJ. n:;e.it market, which recently as it;.' -.ii.ivin. against the others ,,;.:;:rji! this characteristic today. It Vint nwn as tho result of the let-up in the export demands. - Tn !:is'ti rr;ces of the day in the rim l;.t were reached as a rule fn tt :?.. t hour. Studebaker continued t'. ii-alev among the motors. The 1 1 , - n were actively bought at ris- i-.2 f.:i.rf s. Cosien. Sinclair and i'a- were the most prominent of the ; ,-v-;.;-;. e i Mil.-. Railway shares joined ;i t ie r?i overy, as did stocks like th- -..hr.er and tires and Puliman, wr.i-.-h '.iad been weak early in the id There was scarcely any doubt iownward movement had b -en t t" a halt by the concerted of certain banking int-rsts .alized that bear rumoi and uipaign for lower prices if rot ! were likely to result in se i a mage. i r- NEWSPAPERS OF BOSTON TIED UP Compositors Walk Out When Award of Arbitra tion Board is Known. Boston. June 14. Evening newspa pers in this city w?re published in evry instance today, notwithstanding walkout of compositors that continu t(i a movement begun in morning news Wer offices last night. Papers were? f varying sizes most of them reduced from normal. fne action of tho men was declarer! V) unauthorized by Sylvester J- Mc-wk-. pi sident of the local typographi- w' Union. In a ettcmcnt ho iiil fuero is no question hjut that the "caoii of the compositors in walking wr,s illegal. The compositors are fftly much incensed over the decision the arbitration hoard nnH nnnec.s- Jr.V delay taken hv it in renrhinc- its f-flflings, ctivrrinar a iitrir.rt nf rierht months. The board paid no attention nJT, tr;3n?;criPt of evidence and went "iiduon hoard had considered ex u -avc-.y ;i request for increased iss. The board found that wages 1 working hours should continue un- tract - - 1 1 n, uaiuiiLR 1JL LUQ Lull "eriod, it was said. "The Boston compositors emnloved on the daily newspapers, upon hearing t-art fJf?cision. n defiance of the con ti,. and arrjitration and without sane- v' 'rom the officers of the internation . --i -M-ipnicai union or from the or ,,(-rrS Of thB lnnl Ik. tnl the statement added. went on strike and left the office; with the exception of-a few cm- PORTSMOUTH PLANTS CLOSED pamouthi N H June l4.The C.,m?.Vth Herald, and The Ports '"limes, evening newspapers, did a 1 r,u,,'ish Monday and The Chronicle, "wiling paper, did not Drint thia i)rJulni?' becu-use of a strike of com Srs' The strike also affects job '"ing plants in this city, ta r fyr)0SraPhical Union last Octo-'loii- llc'sted a wage increase of six it n Y? week- The publishers refused tint,,'. , . ground that business condi tho 7. not warrant an advance. Under rft.. . 11 cntract, the matter was then . '"-a to an arbitration board. The bo; appointed its two members of the iar.1 i w i.tv their , puDiisners aid not name tPnL 1 representatives and the union Z"PA its demand. ana e. JJUl;,lishGr3 again refused them Wa,. orr'-'rl to continue the present this", e" Tne compositors rejected d (1 WQ nut Tiu.ii,VA VULa NORMA TALMADGE "The Passion Flower" BROADWAY rODAY AND TOMORROW 1 Paragraphs i.tr ?T STUART WEST stair Correspondent of The Nottm hich the entire market took Us cue The uft underlatr?n ln toe stock un-ed thev offfLl0'. Bea raders found, when flp-ure Ahe stock down below Is tw!" , at il )vas very readily taken. f tlS n dou that buynff came from the same ntr.ta ,t-v,t, ' loFine move across 90 In May a?tiVhencthe market turned yesterday it IZ?0? Studebaker was the price mak- whfn1tloiket ?S U did two- months ago. when it was beine nnshfi v,i ' opportunity. Th nma v,";.' ot igorous forcing tactics was apparent again today. wLJlai,i bn P?inted out several times before that despite the check which came oer the motor inrJtiot-.r Q ,-u mi t?niker earknlnS' have held up well T-h?- run about $9 for the half year. ?i is at the rate of $18 for the full i ear and means that the entire twelve months dividend will be considerably more Than nAt'AKAi 4 i i . . . " v.,,cu nom me operations of the first six months. Ha vino- o orable statement for the second quarter to look fnnianl t-, 1 i it. market for the stock feel that they have abundant ammunition with work. " l" NORTHERN PACIFIC-ORV. T x ut . t. ERX Action on the N'orth Paeifio riiviian ic expected tomorrow. While it has been given out semi-offlcially that no decision has been reached as to what the rate will be. the street has been skeptical about "" assuarnces right, along. There was very heavy selling in both Northern 1 acific and Great Northern preferred against this mornine anH tl,a tat- v, rxtn stocks at one timn koIH twn nintc uuu" '"go anu northwestern. the ui.iuruu un wuicn was cut a year ago ovru i. j uve per cent, and five ponus unaer iew York Central, paying ...c rri inaicateq wnat the mar ket had in mind. In otii duction in the HiU roads dividend to five yer tern is pretty much taken for grant- c.. ,viwi cuifme speciative opinion even recoKinmg upon a still deener cut Northern Pacific has not sold where it am xoaay since 1900 the year before the historic corner when the stock was pay- iii iai per cent, ureat Northern pre ferred has not sold at sixtv i n twpntv five years when it was on a five per cent oasis. LOKW'S INCORPORATED Pasing of the Loew dividend scarce ly came as a surprise in view of the low selling price of the stock. It was given out that the management had been unable to obtain mortgage money on some of its new buildings and had to borrow $2,500,000 at the banks. As a result it was found necessary to conserve cash resources and suspend payments to the shareholders. Loew stock is very wide ly distributed in small lots, owing to the sale of a large quantity some time ago to the patrons of the company's thea tres. EQUIPMENT PRICES FALLING Price cutting in railroad equipment, while not so widely advertised, as the price cutting in the steel industry, u nevertheless going on and it is estimated that quotations will be . further reduced before substantial buying is attracted. It was figured today that locomotive prices while not yet down to pre-war levels, are much below the peak reached last year when they were- 25 cents a pound. The main thing which is keeping equip ment prices well above the pre-war level is the high cost of labor. ifONEY. New York, June 14. Prime tile paper 6 1-2 to 16 3-4. - Exchange strong; sterling bills and commercial 60 day mercan 60 dav bills on banks 3.72 1-8; commercial 60 day bills .H.il 7-8; demand J.i6 o-S; cables 3. i I - S. Francs, demand 7.99; cables 8.01. Belgian francs, demand 7.95; cables 97. Guilders, demand 32.95; cables 33:05. Lire, demand 5.13; cables 5.15. Marks, demand 1.45; cables 1.46. Greece, demand 6.15. Sweden, demand 22.20. Norway, demand 14.50. Argentine, demand 31.12. Brazilian, demand 12.87. Montreal 10 15-16 per cent discount. Government bonds irregular; railroad bonds steady. Time loans firm ; bO Hays, 90 nays, b months '6 1-2 per cent. Call money easier; high 6; low o ruling- rate 5; closing bid ; offered aL 1-2; last loan 5 1-2. Bank accept ances o. COTTONSEED OIL New York, June 14. Cottonseed oil closed steady. Prime summer yellow 7.35 bid; prime crude o.o: January IS: June 7.35: July 7.40: August 7 50; September 7.66; October 7.70; No vmeber 7.71; December 7.74. Total sales 100. CHICAGO POTATOES. Chicago, June 14. Potatoes, receipts 59 cars; old steady; new auu. Northern white, sacKea ana duik u to 95 cwt. Louisiana Triumpns, -.o cwt. Virginia, 4.00 to 4.25 barrel. Virginia, 4.00 to 4.25 barrel. Carolina cobblers, 3.50 barrel. SII.VKU. New York; June 14. Bar silver, do- mestic, 99 1-4. foreign o'J. Mexican dollars 4i i-i. ALEXANDER BOY BURIED TUESDAY Body of Steel Greek Youth Recovered After Several Hours' Search. Funeral services for Bruce Alexan der, who was drowned in the, Catawba river Sundav .afternoon, were con ducted at the residence of his tatner, ,1. F. Alexander ffi Steel Creek; Tues day morning at 9 o'clock, Rev. J. M. Walker, pastor of Steel Creek Pres hvterian church, officiating. The body of young Alexander was re covered Monday afternoon by Fireman Bob Barnes while he and otners were dragging the river with a chain. The youth was drowned Sunday about 4 nvwif when he stepped into deep wa ter while wading at the mouth of a vine into the Catawba. The' body was. recovered by accident' Mr. Barnes said. He ana otner searcn were nolina: the river in a boat which was anchored by a heavy weight,; fastened to the boat with a long cnaiu. Searching at that particular point brought no results. The anchor was hauled to the boat, and on the chain ia. tb hodv of the drowned boy, the chain having been wrapped around one arm. The water at the place where the body was found was 20 feet deep t wo a shout 100 feet from the point where the youth entered the creek to Mo'nv friends of the Alexander fam ilv assisted in the search for the body v,n a rrnwd went out from Charlotte. Included among: those going from here were Mr. Barnes and his brother Ance titZ- c T.. Banks. C. M. Griswold XJCLl UCO, v a ntv "Rnsineer. Young Alexander -would have cele va his 16th birthday Tuesday, Homer Reynolds, a North Charlotte youth, whose body was taken from the Catawba Sunday, .was buried Monday on his 15th birthday. Mr. Barnes also, k.n.,.ht this bodv from the river when; it was found floating three days after COTTON PRICES MAKE ADVANCE I Offerings Small and Active Months Go 13 to 19 Points Higher. By -STUABT P. WEST. Ptaff Correspondent of Tho New Copyright 101, By News Publishes Co. New York, June 14. The failure- of the cotton market to break more severely on recent reports of improv ing crop prospects of the oast two or three weeks, combined with the fact that more criticisms of weather and crop conditions are now being received, seemed responsible for scat tered covering today. Offerings were small this morninsr and after oneninsr steady at an advance of 5 to-10 points, active montns sonti sold some 13 to 19. points above last niKhfs closing -i,ill.wf .!?!lp vjSY.?a. . furt?r the preclpitationwas generally lighter and more scattering. In' this respect the news was considered favorablfc to .it .TMic.H ijcil sei nuns uui the crop, but while the plant is not yet surrering severely, the condition east of the river shows the unfavor able influence of droughty conditions. The question of boll weevil is also assuming greater importance and pri- vate cables said the relatively steady snowing or tne Liverpool marfcet In the face of dull trade was due to increasing apprehension of weevil dam age. . There was no chanee in the rtews from the goods trade, but there was ' ' v- ... i. .... i uujinfe xvi l i (tut? ri i - i count mis morning. isroKers with Japanese connections bought July While domestic trade accounts were buyers of early new crop positions. The firmer tone of foreign exchange and easier tendency of the monoy market as reflected in the lower call rates of yesterday probably contrib uted to the rally, while there was very little selling by the South. The cen sus report on supply and distribution for May is expected tomorrow morning but is hardly looked forward to as likely to provide any fresh market incentive. CHARLOTTE COTTON. Receipts today, 10 bales at .... .lie XRW'VORK COTTON. New York. June 14. The cotton market opened steady today at an advance of 5 to 10 points in response to better Liverpool cables than ex pected and reports of a firmer tone in foreign exchange. There was scat tered selling on continued good weath er in the South, which caused some irregularity after the call, but spot houses were moderate buyers of July and the market held steady during the aarlv trading, with October fluctuat ing between 13 17 and 13.22 comnared with 13.12 at the close yesterday. The weather map showed some further precipitation in the west, but it was comparatively light and scattered. The market turned steadier lator on reiterated complaints of dry weather in the eastern belt, apprehensions of boll weevil damage during the sum mer, and reports that a good many contracts liquidated recently had aeon purchased by the trade. Offerings were light and only a moderate de mand was necessary to send prices p to u.s tor October or about 14 to 1!) points net higher on active months. frading was very ouiet during the middle of the afternoon with prices howinsr reactions of 6 or 7 points rom the best under realizing. Oc tooer contracts neia around 13.20 or about 8 points net hgiher. NEW YORK SPOT COTTON' New York, June .14. Spot cotton quiet; milling 12.43. NEW . YORK FUTURES New York, June 14. The cotton market., closed easy. Open High Low Clos July 12.32 12.42 12.31 12.31 Oct. 13.22 13.28 13.13 13.13 Dec. 13.68 13.77 13.61 13.61 Jan 13.76 13.84 13.72 13.73 March .. 14.09 14-16 14.09 14.06 NEW ORLEv?iS COTTON. New Orleans. June 14. Further rains in the western halt ot the belt and continued complaints ot the pres ence of boll weevils in great numbers, especially in Texas, put the price of cotton 12 points up, on the most ac tive months during the- first hour of business i.oday. July rose to 11. 9S, and October to 12.. the postpone meat of Census Bureau reports on onsumption and stocks of tenderable cotton had the effect of restricting business to some extent. Reports of the first cotton blooms at several points in the central belt had the eftect of increasing offerings somewhat and the market sagged a little, standing at 11 o'clock at not advances of 7 to 9 points. The market became much of a wait ing affair, especially after the Census Bureau announced that the statistics due today would be -issued tomorrow. Late in the session the trading months were 5 to 7 points higher than the close of yesterday. NEW ORLEANS SPOT COTTON New Orleans, June 14. Spot cotton steady; sales on the spot 1608 bales; to arrive 2617. Low middling 9.13; middling 11.3b; good middling 12. b3. iteceipts 2,s8: stocK 4oi,ob. NEW ORLEANS FUTURES New Orleans. June 14. Cotton closed steady at net advances of o X0 7 points onen iin ijuw uiosa July 11.86 11.91 11.86 11.93 Oct 12.66 12.77 .12.65. 12.70 Dec 13.0 13.18 13.09 13.11 Jan 13.18 13.80 13.25 13.24 March 13.48 13.60 13.60 13.51 LIVERPOOL COTTON. Livemool. . June 14. Snot cotton. limited request; prices easier; good mlddlins 8.72: fully middling 8.32; middling 7.67; low middling 6.67; pood ordinary 5.42; ordinary 4.67. sales 3,000 Dales, including ,4uu American. Receipts 16,000 bales, in cluding: 10.800 American. Futures closed quiet and steady. June 8.08: Julv 8.24: October 8.62; January 8.82; March 8.92; May 9.00. NEW YORK PRODUCE. . New York. June 14. Butter firm; creamery firsts 29 to S2. Eggs firm, fresh gathered, nrsts 2a 1-2 to 27 1-2. Cheese steady; state w'hoie miiK, flats average run 14 1-2 to 15 1-4- Live poultry steady; fowls 27. Dressed firm, western chickens box es 23 to 50; turkeys 20 to 55. STRICT OBSERVANCE OF SABBATH VOTED ' Marlette, Mich., June 14.-Strict ob servance of the Sabbath has be n i i ; i . js ii. in votea uy citizens oi mis viiutge in a referendum suggested by Harry Ho- bolth, proprietor of its only motion pic ture theater. By a vote of 270 to '70. the electors placed the' ban on Sunday movies. The fight for and against . Sunday performances had waged for several months until Hobolth suggested a ref erendum, agreeing to abide by ths decision. An intensive campaign fol lowed, every citizen of voting age casting a ballot. MINGO MARTIAL LAW IS MODIFIED BY COURT Charleston. W. Va., June 14. Gov ernor Morgan's' proclamation, of martial law for Mingo county was modified to day by the Supreme Court rf Appeals ro far aa it eives jurisdiction to Civil courts. The Supreme Court, in order ing the release of three prisoner ar rested tinder the mircvu law p--i-c!arra- tion, declared that, in its r.piutoTi' nv.n tial law is an incident. io muuaij iim pation and, cannot be enforced except Wall Street ) V New -York, June 14. Tha trend of prices at the opening of today's stock market suggested an extension of yes yesterday's rally, a number 0t leaders showing gains of 1 to l 1-2 points. This was Immediately followed, how ever, by a resumption in large volume of the recent selling movement In rails, oils and equipments. Northern Pacific reversed its Initial gain of 1 point with an abrupt decline of 2 points and Great Northern lost 2 3-4. .Mexican Petroleum fell 2 points, Bald win Locomotive 1 5-8. Pure Oil 1 1-2, and Gentral Asphalt 1. Steels, motors, sugars, tobacco and textiles also re ! acted. Declaration of the regular dividend on Chicago and Northwestern" and a dro In call money to 5 1-2 per cent stimulated further recoveries at mid day. Northern ' Pacific made ud its loss and Great Northern rallied sub '""'V' "'"Ti? iuS stantially. Oils and motors were the The closing was irregular. . Sales ap LIST. nrovimntPrl 750 000 shares NHXV VOKK STOCK Last sale. Allis-Chalmers . : . . . . 33 27 28 124s 51V4 38 y2 81 39 M 73 56i 104 76 38 80 28 74 38 52 110 American Beet Sugar American Can American Car & Foundrv American Hide & Leather pfd. American Locomotive American international corp. American Smelting & Ref. American Sugar . . . . . . , American Sumatra Tobacco American T. & T American Tpbacco Sec. . . American "Tv'oolen Anaconda Copper Atcnison Atl., Gulf & W. Indies Baldwin Locomotive Baltimore & Ohio . . Bethlehem Steel "B" . . Canadian Pacific Central Leather . . Chandler Motors 364 61 56 25 4 31 U 24 26 65 55 10 i2y4 125 10 , 33 631i 27 89 s.m 50 54 4 19 108 3 21 K 130 11 23 20 67 17 -94 65 U 13 2 53 33 49 27 12 67 47 54 42 22 73 19 106 75 8 33 , 55 4 S , 116 , 18 5 6 5 5 -59 . 76 . 50 . 45 . 7 . 28 . 80 . 27 Chesapeake & Ohio Chicago, Mil. & St. Paul Chicago. R. I! & Pac. . . Chino Copper uoioracio Kuei 6r iron . . Corn Products Crucible Steel Cuba Cane Sugar . . Erie . . . . . . General Klectric .. .. .. General Motors .. .. .. ., Goodrich Co Great Northern pfd Great Northern Ore ctfs Illinois Central Inspiration Copper . . Int. Mer. Marine pfd . . International Paper . . Kennecott Copper . . Louisville & Nashville Maxwell Motors . . Miami Copper Mexican Petroleum .. Middle States Oil . . Midvale Steel Missouri Pacific New. York Central N. Y., N. H. & Hartford . . Norfolk & Western Northern Pacific . .. Invincible Oil . . . . - Oklahoma Prod. & Ref. Pan American Petroleum . . Pennsylvania ... ....... ,. People s Gas Pittsburgh & TV. Va Kay Consolidated Coper .. .. Reading 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 . . . . i. . Texas Co. r Texas & Pacific .. .. .-. .. Tobacco Products .... .. .. Transcontinental Oil . . Union Pacific . . . 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 Cola Gulf States hteel Seaboard Air Line Sloss. Shef. Steel & Iron . . . 31 6 nil V4 United Fruit lOf Virginia Caro. Chem. . . ., . 27! American 'tobacco . . . . . . . . 1 , American Zinc S Geenral Asphalt .. 56: CANADIANS STILL HOPE TO PLACE ENVOY IN U. S. Two of the leading candidates for the post of Canadian ambassador : to the U. S. Sir Robert Borden, aboTe, and N. W. Ro-relL For two years Canada has had an appropriation available 10 send an ambassador to represent that gov ernment at Washington, but to date the man for the position has not been chosen. Leaders deny that opposition from England has halt ed the plan. Among the men men tioned for the post are Sir Robert Borden, former premier, and N. W Rowell. former president of tha privy couiiciL- 7yJ: - ' SsP ISA v ' : - - v ' , L Grain Market Copyright 1821, by News PubHlnK Co. 'Chicaern. June 14. Wheat started sharply lower today'but thwcarly selling 1 was- overaone and a rair recovery was noted during the later trading. The sharp break in cash premiums, the cooler weather ana the lack of export business all combined to . undermine the bull position and general selling was noted at the opening, some of it for short account aa it proved later. About mid-session there were reports of black rust infected samples of wheat being snown at sioux City, lowa, rrom Elk Point, South Dakota, and this started some of the shorts to run while later It was reported that exporters picked up 1,000,000 bushels of wheat in. the pit, .presumably against old business and this started further short covering. However, the further break of three to nine cents in cash wheat, premiums today did not add courage to investment buyers who werg disposed to await a further break before taking hold. Southwest and Illinois interior points were reported fre sellers of cash wheat. iorn also was lower. The break in wheat together with a lack of-bteying power because of the elimination of much of the short interest the past two business days were depressing factors. Corn receipts continue heavy despite talk of after corn planting movement being over. Shipping de many was slow for domestic account. Exporters were asking for offers but their bids were unattractive. Crop news was favorable. Oats were weaker. A feature was unloading- of long oats and selling by houses with eastern connections. Buy ing was limited. Cash oats basis was unchanged. Shipping demand was slow- Provisions were lowrer with grains and hogs. Chicago, June 14. Favorable weath er for harvesting- had a bearish effect ori the wheat market today and so did re'ports of increased country offer ings, Initial figures, ranged from 1 2 to 2 1-2 cents lower. Corn gave way with wheat, start- ins: 3-S to 1 -1-4 to 1 3-8 cents down. Oats were depressed by the action of other grains. Provisions reflected a downturn m the value of hogs. Wheat closed heavy, 1 3-4 to 4 3-4 cents net lower. Corn closed weak. 1 3-4 cents to 2 1-8 to 1-4 cents net lower. ;mcACM cash oract. Chicago, June 14. Wheat, No. red 1.46 1-4; No. 1 hard, 1.51 1-2 to 1.54 , 1-4. Corn. No. 2 mixed 62 3-4: No. 2 yellow 62 1-2 to 63. Oats. No. 2 white 37 1-2 to 38; No 3 white 36 1-2 Jto 37. Kye: NO. 2, 1.29 1-2 to 1.31 1-2. Barlev, 57 to 64. Timothy seed 45C to 600. Clover seed 1300 to 1800. Pork nominal. Larl, 9.70. Ribs 975 to 10.50. CHICAGO GRAIN AND PRODUCE. Opsn nigh Low Close WHEATr July . . . Sept. CORN July Sept. . . OATS July . . . Sent. PORK July . . . LARD July ... Sept. . . . . . Sept. . . .1.37 1.38 .1.25 1.28 1.35 1.35 1.24 1.25 "63 64 38 40 64 65 38 40 62 63 37 39 63 37 39 17.50 9.82 10.17 10.12 10.42 9.82 10.15 9.85 10.20 9.82 10.15 10.35 . 10.45 ... 10.32. NAVAL STORES. Savannah, Ga June 14. Turpentine steady! 5"3 1-4 to 53 1-2; sales 250; receipts 700; sipments 244; sotck 8, 063. X. Rosin firm: sales 789; receipts 1,396; shipments none;' stock 77,183. Quote: B D 3.70; E F G 3.75; H 3.90; I 3.95; K 4.30; M 4.90; N 5.40; WG 5.90; WW 6.50. CHICAGO PROVISIONS. Chicago, June 14. Butter higher; creamery firsts 27 to 31; seconds 20 to 25. Kggs unchanged. Poultry, alive higher; fowls 22 1-2; broilers 30 to 35. ROTARIANS TO AID T. B. BODY Meb Long, New Member, Wins Milk-Drinking Con test at Weekly Luncheon. Charlotte Rotarians win co-operate with the Mecklenburg Tuberculosis As sociation in the establishment of an open air camp here for the treatment of tuberculosis patients. Drs. H. W. McKay and William Allan told of plans to establish the camp and asked for the co-operation of the Rotary club during the weekly luncheon Tuesday at the Southern Manufacturers' Club. The entertainment feature of the luncheon was a milk-drinking contest, all the members being provided with a nursing bottle and nipple. Meb Long, a new member, won the contest. He is alleged to have bit the nipple off.' A shop talk on the Monroe Calcu lating machine was made by Ernest Dechant. Hamilton C. Jones spoke on the principles of Rotary and Dr. Luth er Little told of plans for the enter tainment of the B. Y. P. U. delegates. Frank F. Joneft presided. A social feat ure was a solo by Flynn Wolfe. WANTED TO BE SURE pF KILLING HIMSELF Telluridge, Colo., June 14. Peter Met- tunef, 32. a shoemaker, got a fair start heavenward before1 committing suicida, but-failed to secure a firm foothold on his lofty perch. - eMttunef climbed a 30-foot telephone nole. cut his throat with a knife, and plunged' to the ground iracturing nis skull. He died within a few hours. Scores of persons, powerless to re strain the cobbler, vewed Mettunei's sensational act. DISCUSS STANDARDIZED LOAF. St. Louis. June 14. Standardization of thP. loaf 'of bread was discussed at the annual convention of Retail Master Baker's Association of America which opened here today! Delegates said the purchases would be provided with uni form aualitv and weight by the crea tion of a standardized loai. Paul Arrington & Co. Manufacturers Cost Accountants Audits Systems Investigations 217 Piedmont Building Phone 653. Charlotte, N. C. Curb Market By STUART P. WEST. Staff Correspondent of The News Copyright 191, By News Publishing; Co. New York, June 14. The curb mar ket was steady but business was Ma terially below the average of recent days. For a time after the opaning there was some irregularity in the re cent active issues, due to selling by commission houses. Before long, how ever, short covering started among the traders who had been sellers in the past week or so. This desalted in. an improved tone with advance from the early levels. Cities Service issues were erratic during the forenoon, susceptible to orders on both sides of the market. However, after mid-day supporting or ders came in, some of the buying cred ited to insiders and sharp upturns followed in all classes. The Standard Oils were more active than in weeks and some good upturns were recorded, the Ohio stock moving up 5 points and the New York shares advancing 19 points. .International Pe troleum was up a fraction and a better tone was shown in Simms Petroleum, Skelly, Producers and Refiners and Elk Basin. Dealings were smaller in the miscel laneous list. Quotations for the motor shares were higher in sympathy with the firmness shown in these issues on the stock exchange. Car Light and Power met moderate selling pressure and yield, ed a fraction, and United Retail Candy was neavy. &weet company. United Profitsharing. United Sttaes Steamshin ano a numoer ot otners were comparative ly steady. improvement was noted in the mining list, with some of the low priced issues making good advances. Eureka Croesus, which was under pressure last week, was quite strong, moving up six points and an advance of several points was recorded in Boston and Montana. National Tin held steady around its previous close. Florence Goldfield was influenced by reports of lavorapie developments at tne property and in the plans of the management. Bonds were quiet with prices only slight ly cnangeu irom tne final or last night. LIBERTY BONDS. New York, J une 1 4. Liberty bonds ciosea: 3 i-2s, ss.eo; nrst 4s, 87.44; second 4s, 86.90; first 4 l-4s, 87.70: second 4 l-4s, 86.80; third 4 l-4s, 91.48; fourth 4 l-4s, S7.04; victory 3 3-4s, 3. $o; victory 4 3-4s, as.ae. S. B. ALEXANDER (Continued From Page One.) a model of its type, then new) and the venture proved so popular that Captain Alexander's frequent re-elec tion after that was always considered unanswerable vindication of his wis dom in the matter of roads. In 1886 Captain Alevander was un animously "nominated for the office of lieutenant governor by the State Con vention. He declined, however, to ac cept the nomination. He was an ardent advocate of the bill establishing the North Carolina Agricultural and Engi neering College (now the North Caro lina State College at Raleigh, and was a member of its first board of trustees, also a life member of that body. CAREER AS CONGRESSMAN In 1890, Captain Alexander was elect ed a member of Congress to represent the sixth North Carolina district, which then extended to the Atlantic coast. He served two terms and was a mem ber of the committee on agriculture He was also president of the North Carolina Railroad for two years. An Incident ot Capt. Alexander s co? lege life that his college chums and friends often related was an inkling of his capacity for meeting any o;er gency. He was chief marsh:1! at the University commencement wnen Presi dent Buchanan, of the 'JnitHl States, accepted an invitation to mano t' e an nual oration. The President of the Unites States emulating the Demo cratic habits of Thomas -.Teflerson and habits characterizing his owi lifo. lett the train at Hillsboro and hired a hovs to ride over to Chapel Hill. As chief marshal of the occasion, it was the duty of young Alexander to uo out and meet the distinguished guest. nw voune chief marshal of the student bodv and the President of the United States therefore rode into Cliapel Mu". together, where Preside.it Buchanan re mained for the commencement xer clses anri democratically mixed with the student body and members or. tnt faculty. Although he never formally studied law. Captain Alexander was a keen stu dent of the law, as well as an omni vorous and observant reader of trea tises on agriculture and other litera ture. He was regarded as unusually well versed in the law and ot;n gave striking evidence of this in legislative halls ann elsewhere. Because of his knowledge ot puonc affairs and his reputation for fairness and souare-dealing as well s 1 .hv.us. of the confidence placed by tha general nnhiio in his ludement. Captain Alex ander was appointed a member of the commission once named by the .overn- ors of North and South Carolina to settle definitely the bounds between North and South Carolina. The com mission never acted because of the fail ure of the South Carolina legislature to annrove the movement. Cantain Alexander s nome piace uui- inc much of his mature lire was wesi of the city where Camp Greene was located, the Alexander home there serv ing as camp headquarters ior quite n while. He also lived in unarioue for a number of years before opening the home west of the city ana was elected to membership on the Charlotte board of aldermen wnen quite a youn? man. Tn later years. Captain Alexander was one of the most active members of the Mecklenburg Camp of Conrea erate Veterans and was its comman der for two terms. From time to urn" he served on various important com mittees of that body. After retirement from active life, it was his custom to snend many' hours at veterans head quarters talking over the days and. inci dents oi tne war perioa. All members ot Mecklenburg camp ro nailed to assemble at the Veterans hall, at the city, where they will go in a body to attend Captain Alexander's funeral. Ten o'clock is tne hour tor assembling: Conveyances win be rur nished. In 1872, Captain Alexander was mar ried to Miss Emma Nicholson, aaugn ter of Thomas W. Nicholson, of "Gle.i view," Halifax county. Six children were born to this union, five of whom survive. They are S. B. Alexander, .ir of Charlotte, of the firm of Alexander & Oarsed: Thomas W. Alexander, o the Charlotte bar: Dr. Emory G. Alex ander, surgeon of Philadelphia, who took a hospital unit to u rance wun the A. E. F. and had tne rank or rvi onel in the medical corps; Miss Julia Alexander, of the Charlotte bar, . tn first woman, but one, to be licensed-1 the practice of law in this State, and Miss Violet Alexander, or nariotia nresident of the Ladies - Auxiliary t Hornets' Nest Post of the American Le gion. There are six grand children Miss Mary Brevard Alexander, dau?h ter of Mr. and Mrs. s. a. Aiexanae Jr., Thomas W. Alexander, Jr., Frank SpruiH Alexander. Alice Winston Alex ander and Sydenham Benoni Alexan der (named in full for his grandfather;, children of Mr. and Mrs. Thomas . W Alexander, and Harriet Beaver A1j. ander, daughter of Dr. and Mrs. Emory Alexander, of Philadelphia. Live Stock Copyright by New" Publishing Co. Union Stock Yards. Chicaco. June 14. Supplies of live stock were again heavy today, and the trade was slow from the start. On account of more or less weak market yesterday sellers had about 1,000 cattle held over and there was little de mand for the stale stock from the open ing cf the trade. The total supply of hogs for the week thus far shows an in- "vease of about 11.000 over the first two days last week and present values are off from the levels noted at the close of the previous week. One feature of the trade in the sheep house is the lack of demand for reeding stock. Less than 500 sheep and lambs were taken out of here for all purposes yesterday and there was little or no demand tor outsiders today. Receipts of live stock at the local yards today were estimated at 12,000 cattle, 33.000 hogs 16,000 sheep and lambs, and 4,000 calves. Cattle trade was as:in weak from the start, with many sales down 10 to 15 cents from the levels noted the day he fore. Heavy steers were placed at $8.85 while the best yearlings were quoted at J9 to J9.1o. Export buyers were In the trade taking some of the good heavy steers at $8 to $8.25. Some steers were oft' as much as 26 cents late in the day. Cows and heifers sold slowly at weak prices while canners held steady, good lots going at $2.75 to $2.85. Calves looked higher, but the better values were made by improved quality. Packers paid $9 to $9.Zo for choice vealers while out siders went up to $10 for prime lots. Hoes were off a 'dime from the start but sales were generally 10 to 15 cents lower after the nrtt round. Choice hsht hogs were again belt sellers. The top of the trade was stopped at SS.10 against $8.25 for the best stuff yesterday. Bulk of light hogs and light butchers went over at $7.80 to $8.05, while some of the rough packing lots slod down to $7.25 to $7.35 Pigs were down-with the balance of the trade, the best being placed at $8.0 ( Lambs were slow and steady but age l muttons showed a decline of 25 cents in most Spots. Choice spring lambs were clawed at $12 to 12.25 with plain lot at $10. Good ewes sold at $3.50 to $3.75 while choice lots were quoted at $4.25. Receipts of live stock for the week thus far stand: 32,210 cattle. 81,428 hogs, 35, 589 sheep against 34,209 cattle, 70,478 hogs, 30,940 sheep the first two days of test week and 29,100 cattle, 72,116 hogs, 17,060 sheep the corresponding week last year. CHICAGO LIVESTOCK. Chicago, . June 11. Cattle: Beef steers butcher she stock, stockers and feeders "slow, mostly 15 to 25 cents lower; early top yearlings 8.75; bulk beef steers 7.50 to -8.35; bulk fat he stock 6.50 to 7.00; bulls and veal alves steady; bolognas . largely 4.50 to 4.85; bulk butcher bulls 5.25 to .50; veal calves largely 8.50 to 9.00. Hoks: Active, lights 10 to la cents lower; others . mostly 10 cents lowVr than yesterday's average; top 8.10; bulk 7.80 to 8.05; pigs 15 to 2o cents lower. Sheep: Slow, lambs mostly steady; ative sprinR ton 12.25: bulk 11.00 to 11.75; westerns not sold early; Ore gon yearlings and eWes 8.00; bulk fat wes early 3.00 to .4.00.--, -. Bond Market Bt STUART P. WEST. Staff Torrer-pondr-nt of The IVewn Coyrfrlit 1921, by New Publishing Co. New York. June 14. The bond market was generally stronger today, helped bv he improvement in the slock list and by the decline in money rates. Inas n.uch as railway bonds had been the' ones feel the most recent depression, . they were naturally the group t) bj nvFt re sponsive 1o the recovery in -tock mark -i.. Tli-re was a good "ln-an l v. itli lialf- omt advances. In such isshpr as Chesa- -esike and Ohir, convertible 5s, St. Louis end San Francisco adjustment fis and the n-w Market Street Railway bonds. Tin; Missouri Pacific 4s. .hicago ( J'-eat v est- rn 4s. the Rock Island general 4s and New York Central debenture fis wore ?ll up a fraction. Southern Railway 5s were an exception : they went slightly lower, Considerable interest was taken in the niipuncement that the state government ot TSew , Jersey had rejected bids for r.000.000. five per cent bonds to pro. vide soldier bonus fund and money for tunnels and bridges. The bids of lfli veie almost as higi as those which went accepted by New York state for its five per cent bonds last week. Yet the New Jersey, authorities were dissatisfied and decided to advertise the issue again It was reported that the $500,000,000 Unitd States government otfqering was still gr i very well, and taking tho course hop ed for by the treasury department, name v that a decided preference was being shewn for the three-year 5 3-4 per cent iotes over the ono-vear certificates of indebtedness. The only new issue of con-; sequence was the ten million dollar offer1 of General Petroleum Cot poratlon ten- ar sinking fund gold notes, bearing interest at 7 per cent and put out at 9i 1-4. There was little change in the liberty group, the fourth 4 l-4s worked higher while otner issues were practically un changed, Japanesese 4s gained a frac tion, Liniteu ivingaom o i-zs or .i were steady at 84, while the French, Norwav and Belgian issues were barely changed with the exception of the Bel-, plan 6s of 1925, which went up following- tne recovery in r rencii exenunge. x-ativ- nrd Motors 8s lost some grouna. toucning' 94 1-2, as again 95 at the close of yes-s terdav. ' American Telephone and Tele- granh 5s were in demand from 81 1-4 up to 82. ' SUGAR. New York, June 14. Raw sugar; weak, at 4 cents for centrifugal. Refined unchanged at b cent3 tor fine granulated. EVERYTHING In High Quality Building Materials NEW building permits for April totalled ap proximately ninety mil lion dollars the largest total for any month since April last year. . May statistics indicate a further increase. Why? Because today is the builder's opportunity. CITIZENS Lumber Company South Boulevard Hiones 3472-3473. ! i - i the-boy isanK-- ' - by -military lorces.
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 14, 1921, edition 1
17
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75