Newspapers / The Charlotte Observer (Charlotte, … / Sept. 2, 1921, edition 1 / Page 17
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I? THE CHARLOTTE MEWS, CHARLOTTE, N. C, FRIDAY AFTERNOON, SEPTEMBER 2, 1921. 17 V P VI 1 LIVESTOCK COTTON (JR AJN MORE CONFIDENT FEELINGIS SEEN Stocks, Bonds and Cotton Advanced Today Due Largely to Cotton. nr sriMiT v. AvrcsT. Mart" ( orrcKnlent of The rw ( npribt. li)2l,by WH Publishing Co. W.ill Slreet, New York. Sept. 2 Furth er simultaneous advance today in stocks i-nr.ds and cotton was another expression ..f The more confident feeling which has !..-on developing hi business circles for the last week or more. The cotton trade still found it difficult to grasp the full import of a 7,000,000-bale crop, and what it means to change within three months from a condition of large unsalable sur plus to a state of things, where, taking ':c old and new crops together, and considering the remarkable revival both ;u the export demand and in the demand from the Xew England mills, it inav not oe easy to figure out enough i"o go around. The cotton recovery, with what it means for business in the South, was evidentlv getting into the stock market to an in creasing extent. it was not the onlv influence making for higher prices, but it was undoubtedly the principal one. ATI VANCE OR RALLY? What the day's stock market was called upon to settle was the degree in which The rise of the past week has been de pendent on purchases for short account. Upon the answer to this question hung the whole interpretation of the advance, whether It was merely one of the rallies, familiar during the last few months, be tween two periods of declining prices, or whether it marked a real and lasting turn for the better. Possibly the evidence of the iast day or two may not be conclusive but it is certainly true that the share list has behaved very differently this week from what it did under the. recovery of July and August. These recoveries faded away as socm as the bulk of the short inter est hid been driven In and the reaction quickly ran into fresh decline. The peak of the covering demand was reached Tuesday last. and. instead of a now down ward movement developing out of "Wed nesday's recession, another upturn start. ! yesterday and kept on today, carrying prices beyond the high points reached in the first rebound. Practiced observers saw in this proof that there was some thing much more substantial in the buy ng power than repurchases for short account, altl ough the latter were undoubt edly a factor again, as they had been on the' days previous. INDUSTRIALS DEMANDED. Railwav shares, inclined to srg oft' vesterdav. did better today but the Main demand was for the industrials. I:i the industrial section, there wa no lit- uroup which stood out beyond the fnem. except that the equipments ffot further ahead of their recent high nrices than other shares. Attention vus particularly directed to Baulv.-.-.i Locomotive, on news that the Argen ine Republic had arrange for the cash to carry out its $5,000,000 contract to the company. The wheat market, which yesterday had been inclined to follow cotton, .-'no wed the poposite tendency today. The reooverv in foreign exchanges was ilso checked, but the decline in sterl ing and i:i continental rates was no -.tore than a natural reaction in a ,-arket which had been going up stead !v for almost a week. It was a mat ier of note that the 5 1-2 per cent call loan renewal was forgotten, and dis cission about a possible hardening in 'V- monev market between now and he middle of the month, when the bird installment of the income and profits taxes is clue, along with the oistri hution of liberty bond interest, md no deterring effect . either upon the stock market or the. bond market. Manv new high points for the vear wp'-e reached in the investment bond list. . STEEL STOCK RISE. Steel stocks bore their full share in ne rise. The oil group was ojs under the lead of the conspicu Mexican xi -an Petroleum broke t "ii the report that the .-..-lent would refuse to American treaty, alleging at the Mexica n sanction that it - i a !Tt Tip- ,v.i!fii the on companies too mucn. Ut this early loss was more than re amed later. It looked as if certain .'erests were anxious to get in short if. ks in advance of the investiga-r-:i which t'ne stock exchange is con-u-:ti:!K into recent transactions in Petroleum. 'f! ' a y r.d it-- ,e prospect of a three-days' holi fii'iseJ some professional realizing he last hour, but prices hell well q:;it- a number of issues reache-i best figures of the day in the linal : n gs VWAWAIl WYAI, STORES. Sax Jinnah, Ga., Sept. 2. Turpentine mn, .".'.; sales 152; receipts 452; ship ments 313; stock 8,131. Rosin firm: sales 271; receipts 1,462; nipments 1.175: stock 74,198. 'i.r.te; i; :'.70; L 3.75; E 3.80; F :.?.-.: c, 4."'i"i; H 4.05: I 4.15: K 4.25; M :: X 5.5'.'; WG 5.15; WW 5.60. COTTON SE! :d on,. . The cottonseed York. Sept. narket closed steady. Prime tum vellow nominal. Prime crude 7.25. Minber 0.10; October 9.15; Novem Tt.i'T; December 9.10; January 'J.1S: runrv ''.20: March 9.30; April 9.35. Total 1 6,500. LIBERTY IIOXDS, York, Sept. 2. Liberty l-2s, 87.40; first 4s, 4s. .87.70: first 4 l-4s. 4 1-is. 87. S4: third 4 l-4s. New ?!f;sed ; f-f'.nd fe Ol.fj ! ov; rth oonds S7.66: S7.Rfl: 31.92: 3 -4s, 4 l-4s, 87.94; victory o r, r, f . . vict jry 1 3-4s, 99.00. WEEKLY COTTOX STATISTICS. L verpool. Sept. 2. Weekly cotton staMnif-s: To' al tut warded to mills" 38.000 bales, '". 'vvj.icl: American 31.000. k 1.075,000; American 61)6.000. I I' 'JT.OU.'i 5,000; , llio'"" ' ' American "10. 2,000. In High Quality Building Materials TTTlF YOU had to pick vl. out a suit of clothes .11 to wear day in and day out for the rest of your life wouldn't you select the best? The same is true of the home you build. It pays to buy building materials with an eye to the future. CITIZENS Lumber Company South Boulevard Phones 3472-3473 ARKET QUOTATIONS; FINANCIAL NEW KniTIE.,xI0J A0:NIPI ETE MARKET PAGE PUBLISHED IN THE CAROLINAS. MMIM) B STUART P WEST For 15 Years Financial Editor of The New York Globe. t Features StnZ TUA11T P. WEST, staff Correspondent o The Ncvk. Copyright, 1021, by JWM Publishing Co. STEEL SHARES STRONG. leaodiVnIu and KeploRle were .the if he steel "P today. The tv tial. fa.cts about these stocks were pointed out when they had their first jump on Tuesday last. Large blocks were salvaged during the col lapse at the close of December and the salvaging wc.a cone at consider ably higher prices The transfer from outside to inside hands, which oc curred last winter, has been supple mented by subsequent inside purchases on a scale down. This latter buying was especially noted soon after the re turn of J. Leonard Replogle from Eu rope a short while ago. The result wfv. ,e.en, to concentrate holdings of both keploglo Steel and Vanadium to a greater extent than at anv time since then- flotation. Wall Street nouses have been very wrong in their recent advices on the steel shares. '"'v nave oeen telling thoir people to it on tne steels because the bear marKei in tne industrials would not be over until Steel Common and the rest uiu naa a good break. Now the giv- fis oi mis advice are beginning' to get worried. The only ammunition they nave in sight is the earnings reports ioi tne tnird quarter, which "will, of course. be very unfavorable. But inese are still a month and a half off. a,lu i."1' meantime steel trade ac counts, while still somewhat conflict ing, are, on the whole, getting better. AMERICAN AYOOIi. There has never been any doubt aoout tne dividend -on American Wool at this time. Its declaration announced this morning should have oceasione 1 no had the surprise. Nevertheless, the stock a snarp run-up and was one of strongest on the list. One of the curious rear nrc. about the situation in American ))' I : - . uui is mat, tiepitt the 1 ecc gnized tact that the woolen trade corner eariv in ine ve-ir an d that, within t:i last two or three Moim.s partictii my. has got back pi siciicany to nO'-mal. a n umber- a snuirt speculators nave been i Miiing me mih-k snort. ThVi -avc cciiten ied that all stocks in wb;.h xv.,,. rii.niiuiu is lntciesiecl were a uo t I ucetin.t ui uie lOSitS "11- iLiieu in sue i lavorltes of Nc v Enfclaad inveMih. at New Hive... i.ostou & Main-, lullman, An, liicricar c-ugar r.nd l mu d Urug. i lie lallacy of this being exposed. reasoning is now A IRCilXiA CHEMICAL. The cotton rccovciy and the ben-jii exiiecua rrom it i r industries in the --t.i.i v. ei;, iiie i.jciin t-onsKierati.in in oi Virginia Carolina Oi?h . ii ?tut ks. wni-.-u nad a very brisk ,uut. American Agricultural Choni- i. ii nu aionsr iir. v r n n nu .i nnu fie street was inclined, in the light of the cotton market develop- u,r.". p more attention to th Dnininn - .. ,-. . . .1 . . 1 . . " tAi"wi dv tne presiaent ot me company on submitting the melan v...,., ciinucu it-pun. mat tnere was icrt.-uu 10 iook ror oetser tilings durin the coining year. ; POOLS GETTING ACTIVE w . v..itv.m iiuois lonjr dormant wpre again getting active was forthcoming fmm '"i auuices louav. l wo or t in strir-iri wnicn were most active in the trading today, it was said, would be used to car ry the rest of the market forward. These iwo slocks were 'tobacco Products and Studebaker. The advance in the first namea stocK was reported to be under the guidance of a well-known bear plung- ei wnne some ot the same people who v ere responsible tor the advance in Stude bakr to above 90 were said to be in the maruet again on the long side. Several oiner siocks gave evidence of pool tivity. ac- NORT1I AMERICAN i he dividend policy on the North Am erican issues was said to call for a 03 annual payment on both common and preferred which are ?o0 par value with the i-Awpuuii mat tne Holders ot tne junioi snares irom time to time will receive extras. This has been the reason why the common lias stepped to the front and the preferred been a laggard. MICHIGAN CENTRAL Micnigan Central reports net operating revenues for July of. S1.6S1.O0O against liiao.ooii a year ago. in June 1921, net earnings were $1,04 6,000. That was at the rate ot over 4; per cent annually (ii the stock. It should not oe forgot ten -hat New ork Central owns $11". S19.300 of the total $18,73N.000 of Michi gan ventral stock. Dividends are bein; paid at four per cent. That is quite i surplus to fall back unop in time nf need. PACIFIC GAS AM) ELECTRIC. Earnings of Pacific Gas and Electric for July show dividends on both prefer red and common stocks earned with a wide margin. Jt or the first seven months of the year there is a surplu. of $645,530 over dividend requirements. Gross decreased $37,233 during July but net increased $155,987. The company reports $6,670,000 in cash on hand and no current liabilities other than thos due to current operations. The dividend rate on the common at present is five per cent. The fact that Pacific Gas and Peonies Gas are selling so close togeth er in the market, gives a clue to what the dividend on Peoples Gas is likely to be when resumed. r "i Bond Market Ry STT7AHT P. WEST fiimn rnrrcKiinnilcnt of The XAvn rnvrioh 11121. bv Newa PublUbinS Co tv-'ow York. Sebt. 2. Today's bond hilA not verv active, went nn with its unward drift and another coricu r.r npw hisrh records for 1921 was established. Among the railway Ur.nHa whleh marie new tops. were ih Ponnnvlvanhi. 6 l-2s. c:-ossin;;- 101 Louisiana and Arkansas 5,i up uv- points to 72 1-2; Union Pad nc cci.-;. tible 4s at 86 3-8. and Burlington ;, i-f's. which got above 102 to:- vei - i-.--?nt the firt itmo. Chicago and Great V est er n -is were up half a point and weretho Chesapeake & Ohio genera i 1 .- St T.fiiiis At San Francisco tis lied their high of 90 1-4 onri TTnSon Pacific 1st 4s and Atchi son e-euersl 4s. continued to wove forward. The Atchison Generais were in less than a. point of their Janti- v,;i, v., it tbf Union Pacific first 4s dl Y lllb ii rl1, . etin two noints away. Illinois Central, St. Louis and JNew uneans division a jump was a ininT were n it-Ami i; " iki nf 1 1-2 nolnts to S5. There better demand for Southern Railway 5s. which were up nan i point, but arona so mcj ?u" ..i..... f...-.i. on tuo hisrh mark early in the fcoitimr.ro AV Ohio 5s. which -,.u',.,ctoriiav morning at 71 1-1 and 2Vri t 71 3-4. were bought up to 73 Among the industrials there was a sharp recovery in Cuba Cane conver tible 7s in sympathy with the better tone of sugar stocks and with the de t( nJ" rt9 that the Cuban L'i.t. n- willinir to shade the ,,ffl,a1 notation for raw a) J.-1 H iifc .. , A,T-.r-ria A Oomnanv 4 1- 04 1.0 were up nearly three points within two days. Packard Motor 8s -ained half a point and Goodyiar Ss "5in anrtnW 8s were in de- !". their highs of the pres ' t" :,-t Rrooklvn Kdison 7s, n were ud over half a point CnH ko were New York Telephone 6s. wtnr-iair 7 l-2s were neglected. vvork- Ing somewhat low-er. mnt bonds all held Forelsrn govern- around their re- much further r-Ant highs, but wuiiuui v.o..cr Th Belgian 7 l-2s, however, got up to a new top, through 102 3-4. when they went NEW YORK New York, Sept creamery firsts (88 pnnvislOSS. 2. Butter steady; to 91 score) 36 to 39 1-2. Eggs irregular; fresh eathered firsts 34 to 37. Cheese dull; average run 0 to 1-2. t i.r rAn 1 1 rv firm: broilers 26 to fowls 25 to 28; turney o-. Dressed Irregular; western boxes 26 to 4G. chickens; llc2Eii' k.i i b f 5? n rti.s I v i I i I Further Advances Made To day as the Result of Con tinued Buying Ry STCART P. WEST Stall Correspondent oC The News. Copyright, 1921, by News Publishing Co. Xw York, Sept. 2. The extraordinary excitement of yesterday afternoon sub sided overnight but the cotton market showed activity today and there were further advances as a result of continued buying on yesterday's sensationally low- crop figures. Liverpool was surpris ingly firm and reported a. continued active spot business and the market here opened strong at an advance of 26 to 40 points. Both Liverpool and the contin ent were active buyers of practically all months here, and the advance was soon increased, active months selling 50 to 62 points net higher. October touched 17.96 while all later months sold above tne 18-cent levels, with December touching IS. 26. These prices were anywhere from 4 1-2 to 5 cents per pound above the low level touched on the reaction ot last month, and December showed an advance of approxiately 6 1-2 cents per pound from the low level record of last June. There was heavy realizing at the new high prices, the disposition to take profits heincY increased Wythe proximity of the three-dav adjournment as well as by re- actionarv sentiment. The latter was has ed chiefly upon the rapidity of the recent advance, but also included a fear that higher raw material might bring about a renewal of the consumers strike and thus check the revival of trade. The fear of increased pressure of spot cotton was not so much emphasized. I'rospeets that plenty of money will be available for financing a gradual marketing of both the carrv-over and new-crop cotton have done much to relieve nervousness in this respect and so far the advance in fu tures appears to have encouraged nrmer holding instead of bringing out larger of ferings. The South was a seller hen this morning but the bulk of the selling was attiributed to felaizing and offering were so well tauen on reactions oi s to 35 points that the market firmed up again. i'rivate cables reported heavy realizing in Liverpool, out a very gooa unuenone. and it is realized that British and Euro oean sninners have made little provision for their forward requirements. Lsually bv this time of the year they have bought freelv for new-crop shipment, enough per haps to cover four of five months re quirements. JJut this year iney are sup posed to have very little cover, and this represents a potential buying power ex- CHARLOTTE COTTOX. Receipts today, 12 bales at ..li li NEW - YORK COTTON. New York, Sept. 2. There was con tinue,! hnvinsr on vesterdav s bullish crop ngures and prices reacneu sun hiaher levels in tne cotton maiKci tnJiav with October selling at 17.!M am later months a,DOve tne jo-cem . - . .. , ,o , level. Liverpool more than met yes terday's advance here and the local market opened strong at an advance of 26 to 40 points with December soon sellintr un to 18.26. and with activt months generally showing net ad vances of 50 to 62 points. Liverpoo and the continent were both active buyers here while there was a furthe broadening of commission house de mand. This was supplied by heavy realizing and southern selling at the advance, which caused some irregular is later. Private cables said that spot buvers were operating less treeiy at the advance but reported a goo undertone in the Liverpool marltet. The market was verv irregular dm inir the middle of the afternoon but reports that spot cotton was nrmiy held in the South and that tne wai Finance Corporation had arrange: further advances to assist in export. had a sustaining influence. Decembei ruled around IS. 10 shortly after : o'clock or about 42 points net higher The readiness with which realizing .-ah were absorbed on reactions ot 25 to 35 points evident served to check offerings. Trading became less active and the market was steadier again toward midday on covering by early sellers for a reaction or a furthe broadening of commission house, de mand. December, which had sold ol! from 18.26 to 17.91 sold back above th 18-cent level and the advance was en- courasred bv bullish private crop ad vices from the south.. CLOSE NEAV YORK FUTURES. New York. Sept. 2. The cotton mar- 1,-t.t closed strone" Open High Low Close Oct 17.55 18.00 17.40 17. X. Dec 17.96 18.30 17.68 18.21 Jan 18.00 18.27 17.65 18.L':' March 18.20 18.50 17.87 18.4. Mav 18.25 18.55 17.91 18. 5( NEW YORK SPOT COTTON.. New York. Sent. 2. Spot eotto; steady; middling 18.1o. NEW ORLEANS COTTON. Xew Orleans, Sept. 2. A rise o- about S3 a bale carried the price ol r-otton to new hisrh levels for the sea son in the early . trading today, Janu ary toucnina i cents a pouno. .- much higher Liiverpooi man experiei- and favorable reports from cotto iroods markets of this country wert behind the advance. During the lirst hour of tradinsr prices rose 56 to G( noints. October ROinsr as high as 17.53 For a While tnere was genera litiuidation from holders of long con tracts who wanted to- even up ovei the triple" holidays to follow the clost todav and prices receded under tht pressure. The ' more active months- dropped to levels to ju points ovei the close of yesterday, which carruc October off to 17.05. Toward 11 o'clock new support was offered in volume ant a quicK nuifre wiaenea tne net sains to 40 to 44 points. After the middle of the day trading was done on a series or tips ana uown with no decided trend until towan the close a ouick bulge carrie- October tin to li.ob. where it stool l noints over yesterday s close. othe months strenertnenea out uiu not ri..tcn new high levels. CLOSE NEW ORLEANS FUTURES New Orleans, Sept. 2. The cotton market closed steady at net advance of 4S to 54 points. Open jtign 17.20 17.56 Low 17.05 17.47 17.50 17.72 17.75 Close Oc t. . . 17.4'. Dec. . . 17.62 17.70 17. SO . . . . . 17.86 17.94 18.00 18.12 18.22 17S5 Jan. 17.S! March May -. 18.05 18.1" NEW ORLEANS SPOT COTTON New Orleans. Sept. 2. Cotton, spot steady 0 higher; sales on the spot 2,055 bales; to arrive 8b9. Low middling 15.00; middling good middling IS. 00. Ueceipts 2,261; stock 398,481. 17.00; LIVERPOOL COTTON. Liverpool. Sept. 2. Spot cotton in fair demand; prices strong; good mid dling 12.15; fully middling 11.70; dling 11.30; low middling 10.50; ordinary 9.50; ordinary S.75. mid- good Sales lo.oou oaies. including 7,600 American. No receipts. Futures closed ouiet anci steady Sentember 11.62: October 11.57; Decern- her Ji.fio: January ii.io lviarcn ii.ui May 11.23; July 11.12. I.E.VD PRICE ADVANCED. New York Sept. 2. The American Smelting and Refining Company today advanced the price of lead from 4.40 to 4.50 cents a pound. CHICAGO POTATOES. Chicago. Sept. 2. Potatoes: Trtaho whites 2.75 to 2.85. Minnesota early Ohios 1.75 to 2.00; cobblers 2.50. SUGAR. New York. Sept. 2. Raw sugar was. rt.iiot at 4. Si for centnrufrai. " 3 t.an,4t- of Oft V.r all rpflnrs wfinoH sugar futures were again nominal. 0 rmCAGO PROVISIONS. Chicago. Sept. 2. Butter higher; nroamorv standards nrsis 00 iu 01 ' - . . . . no . . . .,-7 i "i ' v " ; j, t.'wo-a nncnangeo. Poultry, alive, lower; fowls 15 to 21; Wall street v ' New York. Sept. 2. Mexican Pe troleum broke sharply at the opening of today's stock market on indications of a deadlock in the conference now under way between Mexican govern ment officials and American interests. Mexican Petroleum recorded an open ing loss of 2 1-4 points, this soon being increased to 3-4. Pan-American Petroleum fell 1 point and the P stock last two points. Other foreign oils were strong, notablv General As phalt, which rose 2 1-4 points, and Koyal outcn, wnicn advanced l point. The balance of the list was irregular, fractional declines predominating. Trading broadened at midday and the further rally lifted Mexican Pe troleum slightly over yesterday's final price. Jtsaiawin Locomotive, Harvester. Vanadian, iveiiy bpringheld, Virginia Carolina Chemical, United Drug and Famous Players showed gains of 1 1-2 to 2 1-2 points. Sales approximated 550,000 shares. Closing was strong-. NEW YORK STOCK LIST. Last Sale. Allis-Chalmers 32 28 26 125 48 29 87 33 61 45 106 1- American Beet Sugar 1-2 3-4 3-4 7-8 American American Can Car & Foundrv .. Hide & Leather pfd International Corp.. Locomotive Smelting & lief. . . Sugar .... .... American American American American American 3-4 American Sumatra Tobacco American T. & T 1-8 American Tobacco Sec. . . American Woolen r-s Anaconda Copper Atchison 85 78 37 50 112 27 44 54 25 O " o 21 21 3 69 56 Atl., Gulf & W. Indies .. Baldwin Locomotive . . Baltimore & Ohio Bethlehem Steel "B" 1-s 1-8 Canadian Pacific Central Leather 3-8 3-4 Chandler Motors Chesapeake & Ohio 1 4-6 1-2 7-S Chicago, Mil. & St. Paul .. Chicago. It. I. & Pac .. .. Chino Copper Chino Copper Colorado Fuel & Iron Corn Products Crucible Steel . . Cuba Cane Sugar .. ''. .. 1-:' 1-4 1 7-S 1-8 7-S 1-2 Erie . General Electric , General Motors , Goodrich Co Great Northern pfd . : . . Great Northern Ore ctfs . . 3- 29 95 32 43 43 IS 106 Illinois Central Inspiration Copper 1-2 Int. Mer. Marine pfd International Paper Kennecott Copper 1-2 1-S Louisville .& Nashville .... Maxwell Mootrs Miami Copper 20 100 11 24 IS 71 15 95 72 8 1 47 38 55 26 11 67 46 50 Mexican Petroleum Middle States Oil Midvale Steel .... 1-2 Missouri Pacific 7-S New York Central N. Y.. N. II. & Hartford . 1-4 1-2 Norfolk & Western Northern Pacific Invincible Oil Oklahoma Prod. & Ref. .. Pan American Petroleum .. Pennsylvania People's Gas 3-4 3-4 1-4 1 Pittsburgh & W. Va. .. Kay Consolidated Conner .. 1 I -o 5-8 Heading Rep. Iron & Steel 1-: 1 loyal Dutch, N. Y. . . .. Shell. Trans. & Trad 3 7 1-2 Sinclair Con. Oil Southern Pacific Southern Railwav .... Standard Oil of N. J., pfd Studebaker Corporation . . . Tennessee Copper . . Texas Co 19 76 19 106 73 7 35 1-4 7-8 7-S' 1-S Texas & Pacific Tobacco Products . . . . . Transcontinental Oil .. .. 23 66 6 lis 16 52 46 . 46 75 46 43 6 24 84 35 1-;' Union Pacific l V. V. s. s. s. s. Food Products . . . Retail Stores . . Ind. Alcohol Rubber 1-2 3-1 3-S V V u. s. Steel 7-S Ftah Copper Westinghouse Electric . . Willys Overland Pure Oil Atlantic Coast Line Coca Cola .... Oulf States Steel Seaboard Air Line Sloss, Shef. Steel & Iron United Fruit .... .... 1-4 1-2 3- I 35 105 27 123 Virginia Caro. Cliem. . . 1 American Tobacco 1-2 Vmerican Zinc .... 3en. Asphalt 46 3-4 1 Curb Market Ry STUART P. WEST Staff Correspondent of The Ne. Copyright, 1921, by News Publishing Co, New York. Sept. ' ;. i nere was con siderable evening up of accounts for the triple holiday on the and this brought out curb market today the fact that trad- rs had been for the most part short of ha markot. Considerable slgrnificaaief 'mis Hiiaeneu to tne tact mat there was little pressure to sell from anv auarter. ind the small buying orders could onlv i he executed. Acme Packing was one of the features. urgent buying causing a fractional ad vance. There was considerable short cov ruifr m this issue. Offerlners were not liberal even at the higher figure. Amal gamated Leather and Farrelll Coal were higher. Phillip Morris and Tobacco Pro- uict:--: Kxnort were steady. lntei-Con- nntentai Kiimier, on small demand, rose a traction imrant Motors met some sell ing, following" tb "uincement of li Ford price reduction. In the oil group, ..i.caibo attracted attention, with an advance of a point Columbia Emerald, on heavy coverinc ot shorts, haft an abrupt and a fa gain was recorded in Arkansas Natura Gas. Anglo-American Oil, Simms Petro leum, international t'etroieum anu a num er of others were steady to firm. Stan dard Oil of Indiana was somewhat easier mall .selling orders causing a fractional decline. .Mining issues were more active than re- rently, with some good upturns recorded I The silver issues were in good demand. Bonds were less active and steady Price changes wer small. HARRISON MAY SEEK RESTRAINING ORDER Greenville, s. C ept. I. A restrain ing ordor prob- oly will be sought before an associate justice oi tne supreme Court to restrain Circuit Judge 11. Withers Memminger from enforcing his instructions that Tom Harrison be sent to the State penitentiary at Columbia, S. C, pending his appeal, which coun sel will make before the Supreme Court to set aside the verdict of manslaugh ter that was returned Wednesday against Harrison for slaying his wif j December J.Q,. last year. INFANTRY OUTFITS LEAVING JACKSON Columbia, S. C, Sept. 2. The sixth infantry, with thirty-two officers and 8C3 men, and the 11th infantry, with 1,490 men and 22 officers, marched away from Camp Jackson this morning, the sixth headed for Jefferson Barracks, Mo., the lltli for Fort Thomas, Ken tucky. The marches of the two out fits will occcupy about two months each. Colonel Nelson commands the sixth. Colonel Halstead the eleventh. Tomorrow the I9tn and 20th neia artlllerv outfits leave and about the fif teenth the thirty-ninth coast artillery brigade marches away. This will re duce the population of Camp Jackson to about eight hundred. Yesterday it was about seven thousand. This is the beginning of the end of Camp Jackson as an army post. ' Since 1871 England has reduced her death rate by one-third. CURB BONDS STOCKS p Live stock v. ' Copyright, 1921, by-News Publishing Co. Union Stock Yards, Chicago, Sept. 2. Cattle trade was of little account tooay. naies were maae neic lul" there but there was little on hand. No westerns reached the market dur- j ing the day. Only about 4,500 range 1 cattle have arrived during the prcs- ! ent week. For the season so far this market has received about 18,o00 against nearly 130,000 during the cor responding period in 1919. Whatever reasons the men on western ranges have for making this big decrease is a series question but one thing is cer tain; the range animals will never again be the factor in the country's meat supply there were years ago. Receipts of livestock today were estimated at 4,000 cattle, 17,000 hogs, 10,000 sheep and lambs and 500 calves. CATTLE: Prices were generally steady for steers. One lot of yearlings weighing 490 pounds sold at $10. i0. No strictly prime heavy steers were of fered. Cows and heifers sold well. Demand for good heifers showed strength in spots. Canners at $2.25 to $2.75 were unchanged while bologna bulls were easy, few going above $3.75. Demand for calves was again strong. Shippers paid up to $14 for top lots. HOGS: The trade was tairly active for all grades of hogs. Values were strong to 15 cents higher, with heavy sorts showing most gain. One load of prime light butchers sold at $9.65 early. Bulk of all grades went at $7.20 to $9.50. Packing hogs showed the full erain and few went below $1 SHEEP: Lambs sold well at strong values. Prime westerns went to ship pers at $8.60 while packers paid $8 for natives, with city butchers up to $8.25 for ton lots. Aged muttons sold at unchanged values. CHICAGO LIVESTOCK. Chicago, Sept. 2. CATTLE: Receipts 4.000: steady: ton yearlings 10.70; bulk beef steers 6.75 to 9.50; bulk fat she stock 4.25 to 6.50; canners and cutters largely 2.50 to 3.50; bulk bologna bulls 3.50 to 3.85; butcher grades 4.25 to 5.75; veal calves mostly 13.00 to 13.50; few selected at 14.00; bulk stocker steers 5.00 to 6.00; feeder steers largelv 6.00 to 7.00. HOGS: Receipts 17.000: stead v to 15 higher; bulk of sales 7.10 to 9.50: ton early 9.65; heavyweight 8.15 to 9.20: medium weight 9.00 to 9.55; light weight 9.00 to 9.55; light lights 8.60 to 9.35: heavy packing sows, smooth 6.90 to 7.70; packing sows, rough, 6.65 to 00; piers 8.00 to 9.00. SHEEP: Receipts 10,000: fat lambs steady to strong; top westerns earlv to shippers 8.60; top natives 8.25: bulk 5 to 8.00; culls 5.00 to 5.25: light fat sheep steady; heavv native ewes more active at 2.25 to 2.50. Grain Market Copyright, 1921, by New Publinhine "'o. Chicago. Sept. 2. Higher prices were recorded in wheat during the early part of the session today but the advance was followed by a good break shortly af ter. Bullish sentiment was on the in crease, the action as well as the activity shown in the market yesterday serving to give this element mor confidence. Out side buying orders were more numerous 3t the start and this attracted a good deal of local buying. Selling by houses with northwest and southwest connec tions filled up the demand and later when profit taking developed the market was left without support and consequent ly prices dropped back sharply. It was believed by close observers that the ad- vance was overdone and that a natural reaction was due. The upturn in prices checked the demand for exporting pur poses as it served to placj foreign bids out of lhu with a working basis. Coun try offerings to arrive to this mart were reported by some of the receiving houses as more liberal, farmers evidently being attracted by the higher prices prevailing. Receipts were smaller only 100 cars being m prospect for today. There 7o,000 bueh- ds delivered on Septemper contracts. Ar- g..ttne shipments amounted to only 71,- 000 bushels compared with 1,593,00 bush els last year. The basis for cash wheat locally was lowered with trade somewhat less active than on previous days. Corn was Inclined to follow wheat and a price reaction tonowea an eariy ad vance. Commission houses wer the prin cipal buyers while selling was led by cash interests though profit taking bv longs was of good size. Bids on cash corn to arrive were lowered 1-2 cent but Uris failed to restrict offerings. Exporters were out or' the market due to advance in prices and the congestion at Pay oort also affected the demand. Cash basis was easier. No deliveries were made on Septmbr contracts. llceipts "ere large at swt cars. O.als trend was similar to that in other rains. Commission houses were early buyers and there was fair selling later in the day by the local element, home hedging pressure m Septembr was no ticeable, neceipts wre larger, ion cars being estimated. Deliveries were 7o0,000 bushls. Provisions nUed mrm. being neipea uy buying baseu on tne Dig decrease in laro stocks for the past month. A continued xcellent cash demand also was a lac- tor. Chicago, Sept. 2. Trading in wheat board of was much oroaaer on tne trade today, prices opening 1-2 off to ?-4 higher. Corn early .displayed some firmness, opening 1-8 on to i-s nigner man yes terday's finish, but at the end of the first hour was back to opening figures, after being up 3-8 to 1-2. Oats opened a snaae to l cent higher with September at 35 1-2. Provisions were stronger on tne un- usuallv large decrease in stocks of lard for the month and reports of large export sales, Wheat closed 1 to 1 3-4 under the opening. Corn closed 1-4 under the opening. CHICAGO Chicago. Sent. CAH GRAIN. Cash: Wheat, No. red 1.27: No. 2 hard 1.26 Corn. No. 2 mixed 55 1-4 1-4. to 56 1-4; No. 2 yellow 5o 1-2 to o. Oats, No. 2 (.white 37 to white 34 3-4 to 36 1-2. live. No. 2, 1.05. Barley 55 to 68. Pork nominal. Lard 11.90. Itibs 9.00 to 10.25. Timothvseed 4.00 B.0P. Cloverseed 13.00 to 19.00. No. 3 CHICAGO GRAIN AKD PROVISIONS. Sent. 2. "Open High Low Close Chicago, WHEAT Sept. .. Dec. . ... CORN Sept. . . Dec. . . , OATS Sept. . . Dec. . . POP.K Sept. . . LARD Sept. . . Oct. RI BS Sept . . Oct. . . 1.27 1.23 1.24 .27 1.28 ii 1.25ii 1.25 55 55 5 3 ?4 5 3 54 55 Vs 53 453'2 35'2 35 34 34 34 38 38 37 38 17.50 11.75 11.90 1 1.75 11.90 11.85 12.00 11.80 12.00 9.02 9.02 9.00 9.00 9.20 9.20 9.15 9.15 MONEV AND EXCHANGE. New York, Sept. 2. Prime mercan tile paper 6 to 6 1-4. Exchange weak; sterling 60 day bills and commercial 60 day bills on banks 3 66 1-8; commercial 60 day bills 3.66; demand 3.70 3-8; cables 3.70 7-8. Francs, demand 7.71 1-2; cables 7.72. Belgian, francs, demand 7.56 1-2; cables 7.57. Guilders, demand 31.72; cables 31.78. Lire, demand 4.43 1-2; cables 4.44. Marks, demand 1.13; cables 1.13 1-2. Greece, demand 5.63. Sweden, demand 21.65. Norway, demand 13.40. Argentine, demand 30.62. Brazilian, demand 12.50. Montreal 9 13-16 per cent discount. Government bonds steady; railroad onds firm. Time loans steady; 60 days, 90 days, 6 months 5 3-4 to 6 per cent. Call money firm; ruling rate 5 call loans against acceptances 5. 1-2; , SILVER. New York. Sept. 2. Bar silver, do mestic 93 1-4: foreign 63. Mexican dollars 48 3-S. EXECUTIONS IN MEXICO, REPORT Iron Rule Put" Into Effect to End Ba-ditry in South ern Republic. By LOUIS P. KIRBY International News (Service Staff Correspondent Mexico City, Mex., Sept 3. Chapters from the story of mediaeval times are ihoin enacted in some of the States, if the stories coming here are true. It is asserted that eighteen persons were executed without trial in Uuebla, The chief of police of the city, Artu ro Camarilla, is under investigation. It is asserted that the official has power of life and death over a certain element- All of the men executed, it is said were criminals, or persons whom the police believed to be criminals. But their summary fate has caused the circulation of other stories of Czra-like methods, which forced the present in quiry. From Chihauhau comes a story that the Governor, General Ignacio C. En riquez, has used somthing similar to the letter of cachet to take into cus tody Alfonso Gomez Luna, a lawyer of some distinction. Jase Gomez Luna brother of the lawyer, asserts that it was a secret arrest, due to the law yer's defense of Fracisca Madrid, editor of La Tribuna, an obscure publication in Chihauhau, which found fault with the Governor. As the Gomez Luna fam ily has influential connections here a great stir is being made. The charges that Governor Enriauez has acted despotically surprised the capital. He is looked upon as the most enlightened and progressive Governor in Mexico. He is a graduate in en gineering of the University of Illinois and has been a leader in reform move ments, incuding' prohibition. The im provements he has made in Chihauhau, the extension of the school system and the general good order he has maintain ed have caused many to look upon him as a model for other. Governors. Not long ago it was proposed that Governor Enriquez lecture in the Uni ted States, in the belief that he would be a convincing example of the sound ness and strength of the new men now ruling Mexico- VETERANS ASKED TO PUT IN CLAIMS Red Cross Conducts "Clean up" Campaign Among Disabled Soldiers Miss Emily -Walker, special worker for the Red Cross, is in Charlotte to di rect the formation of an organization for conducting the disability claims 'clean-up campaign" among disabled war veterans of Mecklenburg county. The campaign is in this county will be on from September 23 through 27. A. J. Beall, commander of Hornets Nest Post of the American Legion, has called a meeting of representatives of patriotic organizations and all other bodies interested in aiding disabled sol diers to be held in the Legion headquar ters b riday at 4 o'clock. Miss Walker will be here for only a short while and during her stay it is proposed to complete the organization to handle this work for disabled sol diers. Mr. Bcall said many veterans of the city and county have claimn which need attention and it is proposed to handle all of these during the cam paign. He has requested that all veterans who can get their claims in shape pre sent them to the local chapter of the Red Cross, or American Legion officials, prior to the opening of the "clean-up campaign" as this plan will help those who are to work during the days speci fied. Campaigns are being conducted in ev ery section of Xorth Carolina to aid dis abled war veterans settle their claims against the government. This has been a difficult matter, heretofore, but the "clean-up campaign" is expected to open the wry for an early settlement of all these claims. ACTION AGAINST (Continued From Pii-:e One.) had gained in Concord during his 10 days spent there in connection with the recent difficulties. The statements were make in the presence of the Con cord delgation and were in agreement with the Governor's viewpoint. The adjutant gem.ral stated in ad'li tion to his endorsement of the Govern or's stand, that the military would not have been needed two wj?eks ago if tho people of Concord, disinterested citi zens, had demanded protect '.on frcm Ihe civil authorities and 1 ad see to it that they got what they had a right to expect. General Metts said he saw no interest other than casual, in the maintenance of law and order during his stay in Concord. He expressed pleasure at the attitude now held by th?? people of the city and declared that had they decided two weeks ago to see that their city was protected troops would have been unnecessary. CITY LACKED INTEREST. Concord apparently lacked interest in the proper enforcement of tho laws during the eight days' stay of the troops General Metts said. The entire citizenship is behind the leaders in the movement for a change, according to the telephone message to The News. Those charges against Sher iff Snears will be his alleged failure to maintain law and order during the strike, the claim being made that he could have handled the situation with out difficulty had he made use of the powers invested in him. The appoint ment of Harry Joyner as chief of police was made by Mayor J. W. Womble im mediately following- the resignation of Chief Robinson. Mayor Womble was among the Concord conferes of the Charlotte meeting and ha agreed to use his influence to bring about a change. Chief Robinson has served six years. Sheriff Spears was successful in the election of last year, the republican ticket carrying. SEABOARD TRYING TO PROTECT FREIGHT An extensive effort to promote the safety of freight is being made over the entire line of the Seaboard Air Line railway with idea of reducing the loss from carelessness and theft, according to announcement from the local offices of the company Friday- Conferences are being held over the system with the view of interesting every officer and employe in the cam paign. E. W. Long, division freinght agent, said it was especially desired that shippers become interested as suc cess depends largely on their support in securely packing freight in contain ers strong enough to carry the commo dity shipped. Co-operation between ship pers and the railroad has been urged as a method of reducing the loss and damage to freight. Bangkok, the capital of Siam. is a floating city, containing 70,000 houses, each of which floats on a raft of bamboo- iCITY SCHOOLS TO OPEN SATURDAY More Than 9,000 Pupils Are Expected to Enroll During the Session. The 1921-22 term of the city schools will open Saturday morning with an expected enrollment of 9,500 pupils. Sat urday's session will be short and de-1 voted to the promotion of students and the Issuance of book lists. First need for satchels and straps will come Tups day -when the boys and girls will bring along their books and accessories pre paratory to beginning actual work for the next term, will be a holiday Monday, Labor Day, The city teachers will meet irt the office of Superintendent o'clock Friday afternoon Harding at 4 to outline the year's "work and prepare fo? the recep- tion of students Friday. School authorities are expecting nn unusually successful term, Mr. Hard ing said. Extensions and additions to the school system have been made and officials are better equipped this year for caring for the 9,500 pupils than at any period in the system's history- DRIVING WITH WOMAN IN LAP IS TABOOED Hartford, Conn., Sept. 2. Motorists who hug and drive at the same tlnu had better not try the exercise in Con necticut if they would avoid danger of arrest. An order from the State Mo tor Vehicle Commissioner puts a oa'i cn the practice of women sitting in the laps of drivers and on one-arm driving. ' The chief inspector already hs caused the conviction in the Berllu town court of Henry Greenburg, of Hartford, arrested while driving with a womin in his lap. The inspector says that one-armed persons cannot get drivers' licenses; persons with tw-j arms are expected to use them for the safety of themselves and the public. IMPERIAL SHIPPING BOARD IS HONORED London, Sept- 3. Control of British shipping would be placed under tho supervision of the Imperial Shipping Board if the report of the imperial shipping committee, made public here,' should be adopted. The board, the report savs, would in quire into complaints regarding ocean freight rates and the conditions of inter-imperial trade which would be refer red to tne board by the various govern ments of the empire for decision. It was also to exercise its powers of con ciliation between inter-imperial shipping interests to promote co-ordination in regard to harbors and other facility. NATIONALISTS-SIGN A TREATY WITH FRANCE Constantinople, Sept. 2he treaty be tween the Turkish Nationalists and France, which was decently revised, has been signed, it is stated in dis patches from Angora. The formation of a new nccorn was mad.j necessary when the Turkish Nationalist govern ment took exception to several features of the original agreement, which was negotiated in Paris by Bekir Sinii, for mer minister of foreign affairs of the Angora government. Fifty Frenchmen, vho were held pris aners by the Turks, have been taken to an Asia Minor seaport for repatria tion. CHAINGANG GUARDS RELEASED ON BAIL Spartanburg, S. C. Sept. 2. Tom Hatehette and Lee Porter, guards on the Spartanburg county changang, were released on bail today after a coroner's jury last night ordered them held for trial in connection with the death of Thomas H. Keelan, white, serving a thirty?day sentence for unlawful train riding. Keelan died Wednesday af ter having been given a sevvere whip ping by the guards for refusing to work. He had claimed to be ill. PINK GRIFFIN URGES NEGRO TO DO RIGHT Columbia, S. C, Sept. 2. Advising all negroes to "leave their guns at home, join the church and work as good mem bers, Pink Griffin, negro, died in the electric chair at the state penitentiary here today for the murder of Dr. E. C. Lipscomb, Greenwood county planter and former Columbia druggist, who was killed recently after he had rebuked the negro, an employe, for cruelty to a mule. POWER OF THE PRESS. Bucyrus, Ohio, Sept. 2. "Is this the news room?" inquired a man's voice over the telephone in a local newspa per office. "It is," was the reply. "Well, say, do me a favor," said ho voice. "My wife and I are going to Lakeside for a, week, but don't publish it because some one may break Into my cellar during our absence and steal my private stock." The newspaperman passed up the item. UN ION'S FIRST BALE. Monroe, Sept. 2. The first bale of new cotton produced in Union county was brought to the local market and sold to J. E. Stack & Co., for 17.50 cents. It 'was graded as strict mid dling and grown by J. A. Avant. TRUSTEE'S SALE. Under and by virtue of the power and authority vested in the under signed by that certain deed of trust, extcuted and delivered by Buelah Wal ker Grier and husband, William Grier. t'pted August 31, 1920, and recorded Jn bcok 433, page 28, of the office of lha Register of Deeds for Mecklenburg county. 10 which reference ss hereoy made aiid because of default in com plying with the terms and conform ing to ths conditions therein contained, having been heretofore requested by the cestui que trust therein, i will sell at public auction, to the highest bid der for cash, at the county court housa door of Mecklenburg Countv, NortU Carolina, in Charlotte, North Carolina, cn the first Monday in October. 1-1. tho same being October S, 1921, at 12 o'clock M. the- land embraced u? said ded of trust and described as folljws, to-wit: y In Ward No. Two of the City of Charlotte, beginning at the southeast corner of Third and Myers streets and runs with Third St. 165 feet; thence parallel with Myers St. In a south western direction 55 feet to the c'l vision fence: thence parallel with-said Third St. 165 feet to Myers St.; thence with Myers St. 55 feet to th beginning corner and being part of Lot No. One of the plat of the land of Long Brothers which is reco'rded in the Register of Deeds office for said coun ty In book 84, page 1; and being the same land conveyed by deed reforded in book 116. page 291,-and book 391, page 241, in said register's ofrtce, to which deeds and deeds therein refer red to reference is hereby made. This sale is for cash and the highest bidder will be required to deposit a certified check or cash for ten per cent (10 per cent) of the bid. or the said property will be immediately resold. This sale will stand open ten days for increase bid, as required by law. I his tne 1st day of September, 1921.- W, C, DAVIS, -Truste. , O 9-2-5t-oaw V 'I 1 t f ' t 1 i 1 i 5 I t ) r 1-1 -n2i
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 2, 1921, edition 1
17
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