THE CHARLOTTE NEWS, CHARLOTTE, N. C TUESDAY AFTERNOON, SEPTEMBER 6, 1921.
I
15
9 i .
f 1
I
i
I
JAiYESTOCK-
j COTTON
! GRAIN
HARP ADVANCE
IS
IN THE MARKET
Accumulation of Buying
I Orders Over the Three
i day Recess.
By 8TCIRT I. WEST
tnlT Correspondent of The NevK.
ivuvini? orders partly coming from
M-le who were afraid that the low
os were Kfuuis away ana partly
in die remnant of the badly beaten
..-.: interest. This led to a veiy
rp advance directly the stock
.irket opened. The rise was espe-;-Uv
violent in the Mexican oils on
.,. .i :-. nouncement that a satisfactory
i r.i.-t ,nent had been reached on the
-,i;-t tax problem-and that shipments
; oil from Mexico, held up for the
two months, would now be :e-
To the sudden jump of six points in
in;in .letroleum and a eorrespond
- rise in other oil shares, was added
,;mediately at the start of business,
further and still more sensational
pi urn in the cotton market. The
at the opening amounted to over
' points, carrying quotations above
v.i-i'ent level. fly afternoon, the
:mv had been increased to nearlv
li points and prices ostabllshf d
r".if t lie 20-cent a pound figure which
had been predicted after the disclosure
.-:' the record shortage in new crop'
; ;-r tinn by the department's report
;.,-t Thursday. At today's high, the
reeovery from the lowest of June
.-toi.nts from 8 1-2 to 9 cents a pound,
-v-ti i-i little more than a fortnight,
southern cotton grower has ex
! .uiaed a position where he was fac
, : u a heavy loss, while seriously in
1 ' ,' a Position wnere ne is ottered
ivrisrllt. IMZI.by fltirs PtibllMhinc r . '" reprefcentlti ves
V:iM Street. New York. Sept. 6. It agreement V2, ? u' at a satisfactory
s , If-arly indicated in "the markets would hi vLe d,s?,uted port txa
. week that the financial situation been rnr!rt ?Sd But 5t had nt
i turned definitely for the better. n1Prt pfP,ed tof t!le-actual announce-
the three-day holiday there was ran i pln Jl accomplishment. Mexi-
octtor chance given to realize this 110 and ?fnef up J Points to
, The result was an accumulation hVffri ?, u lY,gr?in?d another 2 points
:i i .l.tlLUi'mr pi uiii. rtliu WUJ1 1L Lite
I -.in--, to pay off all obligations at
: ,0 hanks.
The stock market today tried more
j ': -only than it had last week to vis-
f ...z? the ultimate effect of the altered
.v.ulook in the cotton states upon the
usiness of the country generally,
f ,-.e argument that the turn-about in
:,p cotton situation would react fa-
i:sMy upon other lines, was greatly
r ngthenert by the rapid advance in
J .heat option?, which was clearly a
I ase of sentiment in the grain trade
I ' .-iticr impressed by the extraordinary'
j evelopments in the cotton market. An
r usual export movement and a domes
j -: crop below the average, are the
j ro:nts of similarity between the two.
i h'srthermore there i8 an analogy be
I -.veen the cotton Industry which has
I '"Und its salvation in the curtailment
f production and other industries
-.vr.ere a light reduction of output is
j rider way. Among these are steel,
pper. oil and sugar and the thdught
j ..sick of the active buying in these
f -rocks was that sooner or later the
j -rlnkage in the new supply would
i unt with prices, as it has in the
j sp of cotton.
The investment market responded to
f better teeiing ot Uie day. not as much
i . s the speculative market, but still quite
5 istinetly. Many, representative bonds
sol.l at new high prices for the year
i "liich meant that they got above the
I - figures reached in the abortive Janu-
I '-.ry drive.
The one exception in the general ten-
;ency was the market for foreign ex-
j hange which had a very sharp break all
I along the line. This decline seemed to
rave been precipitated by the sudden
I '.-. a vy offering of franc and lire exchange.
The reasons did not appear very clear-
3 but it was the same sort of a dirt
v hich had occurred at intervals during the
'r st few years, loans by England to its
continental allies falling due and not
being renewed. The reaction in sterling
was sufficiently abrupt to indicate that
.'ast weke's advance hacl been caused by
the covering in of a short interest which
had been relying too much upon the de
pressing effects of the German indemnity
transaction and had overstayed its mar
ket. i ; tii in stocks and in cotton it is quite
to be- expected that so extensive a rise
should' invite very little profit-taking and
st-ilir.s this character made .itself felt
nwanl the close of the day. It was
especially marked in stocks in the final
:our when many of the more sensitive
speculative issues came down a point to
I "ao points from their high figures report-
I :. early in the atternoon. Undoubtedly
i day's operations witessed the run-in
f pretty much the last of the ex
f i'o-rant "bear accounts" of a fort-
. ;rht ago. It remains to be seen what
I -a:!! happen now that thi element of
I ':niriit has been withdrawn. There i"
'.-- rvas hi to doubt that the sentiment
i '. increasing confidence regarding the
i'lsiiuss outlook is a genuine one and
'. stand the test of any speculative
"".'ictuation that may occur. But the
:s.:ai experience at such times, even where
j i market position has lastingly returned,
t Mat the first upward bound carries
i t up further than investment buying
5 s v.-.lllng to go.
CHICAGO POTATOES.
' ?,,: go, Sept. 6. Potatoes:
! :aho whites 3.00 to 3.15.
Minnesota Ohios 2.00 to 2.25.
Id River Ohios 2.65 to 2.75.
LIBERTY BONDS.
N. v York, Sept. 6. Liberty bonds
.'jsed: 3 l-2s, 87.50; fiwafc. 4s, 87.70 bid;
"-end 4s. 87.80; first 4 l-4s, 87.82;
-' -o.-i.l 4 1-ls, 87.82: third 4 l-4s. 91.88;
f'nUi 1 l-4, 87.92; victory 3 3-4s,
''.': victory 4 3-4s, 99.00.
EW YORK PROVISIONS.
NViv fork, Sept. 6. Butter firmer;
whjery iirsts 88 to SI score 2$ 1-2
10.
r.-ks irregular; fresh gathered firsts
irregular; average run 20 to
I- - no;ltrv easv; broilers 24 to 30;
' 2 2 to 26; turkeys 32.
i '. w-d ooultry weak: western
':'" :. boxes, 20 to 46; fowls 20 to
; irkcys 25 to 58.
In High Qua tit y
Building Materials
flfYOU HAVE often
seen the beauty ofj
-d an otherwise charm
ir.?2; house marred by
cracking plaster. Guard
"gainst this common
fault in your own home.
Use laths that are4hor
or.ghly dry and a plas
ter of proven worth. We
carry both.
Lumber Company
South Boulevard
Hones 3472-3473
I EVERYTHING
i i
ARKET QUOTATIONS; FINANCIAL NEW
EDITED BY STI tart
mi by STUART
I Features 1
)
?y STUART P. WEST
pr,Bm 1021 by fiervm Publishing Co.
OIL,s LEAD OFF.
the hn1l?m Mexico, received over
acto n'5;hBWaS the most important
tttcior in the market thin ;
since f T' had, been hopeful vlr
since it became knnwr .v, a
Lment
r "U.-'": general market move-
nolnt, aa.n-Am"can jumped over 2
J afnd wa i'P altogether over 11
points from where it was selline-
lnlC?y me than a week ago. Koval
of l411? Company, on account
oi tne large Interests which their
companies have in Mexico .were car-
wat nfr.fK a,S 8W" andtaso
was general Asphalt, which alwavs
su0mm,o'TUh, ""lean groups f&t
?mlZ,ot 011 hPfneni8 froni Alexico
a finish argument for
the American oils. At the time Hip
t-hlegLPr0hibltive tax imposed!
mov? ,mM -rPf , Ampric"an companies
uwl i?rQ Thl, fa-ct that toda' stocks
thl rClay-,,Paci,fic 0ii' Cosden and
Mevtl'" f0lled - the lead oE the
SnsL was sisn of the radical
n,fiofJn maket sentiment, where
fhfUlat0rslv.prefer to Jok at every
thing on the bright side again.
SUGARS II' SHARPLY.
lnere were no developments in the
sugar trade to account for the abrupt
upturn in sugar stocks. Mainlv this
was due to the presence of a 'heavy
P?fc nterest, which finally became
seared because of the punishment it
was receiving in other quarters of th
!f, ; Butter - was also- the thought
tnat the extraordinary recovery in cot-
"s Jlow spreaa as it seems
to the grain trade, might in the end
react favorably upon all other basic
commodities. Only a week ago the
street was tipping American Sugar
for r0 and today those who followed
this tip were taking their medicine in
large doses. A single block of 3,100
shares of Manati Sugar changed hends
at o. It was evidently a pre-arranged
transactions designed to clear up the
remainder of a long over hanging
supply of so-called "distress stock."
Cuban American Sugar, once it got
through 18, went ahead easily. People
who had sold the cane issues on that
idea that the company might not
succeed in getting through its new
credit arrangements found that they
nad made an expensive mistake. The
prffTred stck . at 19 3-8, against 18
3I4 T1Y' then sol at 20 and then
aB 2,i ibefra there was any chance
at all to cover.
react favorably u
SOUTHEHX STOCKS
There was especially urgent inquiry
for the stocks of all companies likely
to benefit from the marvelous change In
the cotton trade, and with it the entire
business outlook in the South. Among the
rails southern railway common and pre
ferred, St. Louis and Southwest, from
Texas and Pacific and the St. Lonis and
the San Francisco Issues all of ' them
favored in the buying. It was figured
out among the industrials that the fer
tilizer companies and imnlement. malfprs
stood to benefit by the move and there was
violent rise in Virginia-Carolina Chemical
wnicn sold more than 10 points up from
its recent low in American Agricultural
Chemical and in Harvester.
AMERICAN WOOL.
The buying in American Wool kept
on confidently. A further lnsnira.tion
for Kie movement, was found in the
statement by the president of the
company, wheih came in the budget
of over Sunday news, that orders on
hand was sufficient to sustain the mills
running at capacity all through the
coming winter.
Bond Maf ket )
By RTT? AUT P. WEST
Copyright. 1921. by Nemn PubMhin Co.
New York, Sept. 6. The bond mar
ket today felt something of the impetus
that was behind the movement in stocks.
Prices continued their upward drift and
the advance affected all departments. The1
Mexican oil settlement was interpreted
to mean removal of aother obstacle in
the way of recognition and as such, en
couraged further buying of Mexican gov
ernment issues. The Mexican 5's were
very active and up a point further. Bel
gian 7 1-2's passed their previous top,
selling at 103. Copenhagen 5 l-2s held
last week's advance and so did Norway
S's. Other foreign government issues were
"unchanged. Liberty bonds were sub
stantially the same as Friday.
Several new high records for the year
Vere made in the industrial group. Among
these were American Telephone and Tele
graph collateral S's at 87, the Diamond
Match 7 1-2's, which crossed 104 1-2,
the Morris & Company 4 1-2's at 80
and Western Cnion 6 1-2's which got
across 100 1-4, United States Rubber
7 1-2's -which went as low as 97 3-4 fol
lowing the publication of this six months
repiort were up to 99 3-4, that is back
to where they were when the downward
movement began. -
Packard Motor S's at 97 were up 2
points from last week's low. This re
flected the better feeling in investment
circles toward the outlook of the motor
companies. J Kelly-Springfield 8's were
again in demand.
The improvement i copper stocks was
accompanied by an advance in the Chile
6's and Cerro De Pasco ; 8's while Cuba
Cane Sugar Ts continued their recovery
following the better market for sugar
stocks on the exchange. Mercantile Mar
ine 6's aa 78 were up 2 points from
where thev were selling a week ago. La
clede gas 5's rose a half point and so did ;
the American reiepnone ana xeiegrapu
convertible 6's.
In the railway list was also a series
of new highs. The bonds having the
distinction included Canadian Northern P.
6 1-2's Central Pacific 4's. which cross
ed 75 ; Chesapeake and Ohio convertible
r 1-2's, at 80, Burlington anu wuincy
joilnt 6 1-2's at 102 1-2, mg our os. at
92 and Great Northern 7's at 102 3-8.
New Yoark Central 7's were up three
quarters at 103 and so were Baltimore
and Ohio refunding 5's at 72 7-8 and
Iron Mountain 4's at 69 1-4. Gains of a
point were established in Erie 5 s and Chi
cago Great Western 4's.
Curb Market
L
Bv STUART P. WEST.
Copyright, 1021. by Nevrs Publishing: Co.
New York, Sept. 6. An accumulation
of "buying orders over the holidays coupled
with an improvement in sentiment on the
present trade restored strength on the
curb exchange today and prices worked
upward. Some profit-taking sales develop
eh around the highest prices but there
were well absorbed. .
Standard .Oil of Indiana was in good
demand from outside quarters and rose
aharolv City Service common also was
one of the leaders, with an upturn of more
than a point. Many others advanced sub
statially but met realizing sales, and re-
!nVsrUwere- quite heavy after an early ad-
ivance. wd p-"-- mCeaneous
I and were in more urgent demand than
l" tirn- Terrell coal was. active, but
Vice movements were erratic. After
' moving up about a point there was a. re-
moymis u . 1f ntg oniy to be
followed 'by of the"reneVed buying which
i putthe stock back to its early high,
tt.hn,. Rubber rose 5 points. Otner
wS?.r WiSTminln, groups
Trading was large
and some sharp upward movements were
some sharp
ecorrtea. a-:?;""- nrd demand
or-. - there was a good demand
points -and there was a, g Montana.
fcf GPoldfield Vesuonded to favorable
ids,rwelethSUd7earna- dealings were
Bonds were sieaay American
larger man of 192i, Armour
Tefy rs, Bethlehem Steel of
7's and Inter-
mh. Sr&l Tnsit 7's were th. fea-
c
t . - ,t l i urr Air
BOl WUb" j...- j ......
topbt pK V AGE POLISHED IN THE CAROLINAS.
P WEST For 15 Years Financial Editor of The New York Gl
1 1 1
COTTON TOUCHES
NEW HIGH MARK
Active Months Nearly Cent
and Half Above Friday's
Close.
By STUART P. HEST.
Start Correnpondent of The Xevrs.
Copyright. 1921. by Xwj Publishing Co.
New York, Sept. 6. The buying move
ment which began with the publication of
the government's crop report last wek
became more sensationally active, and
excited today with cotton market: mak
ing new high records. There was a big
advance in Liverpool over the local holi
day, and first prices here were strong,
showing a jump of more than a cent a
pound as compared with the closing quo
tations of Friday. Active months sold
140 1.0 155 points above last Friday's
closing figures either on or immediatelv
after the call. Naturallv this attracted
heavy realizing and there was probably
selling for a reaction on a brrnk of hnnt
30 to 50 points from the best. Eut buy- '
ing oraers continued pouring into the
market from practically all directions
and still higher prices were touched late
in the morning. Twenty cent predictions
were realized, with May selling above that
level, while October sold through the
19 1-2 cent market and 167 points above
Fridays closing figures. The old' predic
tions of 2D cent cotton were replaced
by talk of 25 cents or even higher for
the staple.
Thore was no fresh news to account
for the general rush to buy cotton other
than the sensationally low crop figures
of last week, and a belief that the w orld's
trade is short of raw material which
hacl been piled up in the south, where it
now gives its holders control of the
situation. The question now is the nr'.ce
which will satisfy these holders and
bring out spot cotton freely enough to
supply the demand. The south is usually
a slow seller on advances and one of
the features of the trading here todiy
was the increased volume of buying orders
trom the belt. Liverpool reported heavy
continental buying there this morning
and the contlnet was a heavy buyer here
on the advanced. The English spot mar
ket showed an advance of 113 iSnglish
points, that is nearly 2 1-4 cent, as
compared with last Friday's quotations,
and spot sales there for the two days
aggregated 35,000 bales. Reports from
thi trade reflected continued demoraliza
tion with buyers trying to place orders
but with sellers too uncertain of prices
to accept them.
CHARLOTTE COTTON.
Receipts today, 12 bales at
.18 Vic
NEW YORK COTTON.
New York, Sept. 6. The general
buying movement which was started
by the sensationally bullish crop fig
ures of last week, became even more
active and excited at the opening of
the cotton market today, owing to the
big advance in Liverpool over the holi
days. First prices were 104 to 145
points higher with all the acti3
months selling above 19 cents and
with the more active positions show
ing net advances of 140 to 155 points
either on or immediately following
the call. There was heavy realizing
at 19.75 for December and some south
ern selling which caused quick reac
tions of 30 to 50 points, but the buying
movement continued with the market
very active and feverish toward the
end of the first hour. Foreign tradej
oiiying was reported active, particular
ly for continental account and private
cables said the continent had been a
heavy buyer in the Liverpool market
also.
Very heavy realizing was absorbed
on reactions of some i(f to DO points
and prices made new high records late
in the forenoon with December ad
vancing to 19.90 and Maveo to 20.00
or 155 to 172 points above last week's
closing. The 20-cent level brought in
still heavier realizing and there were
reactions of 15 to 25 points early in
the noon hour, but trading continued
very active and the tone was fever
ish. Reports reaching here from the
south say that rather an active specu
lation in spot cotton has developed
and that there has been a good
deal of buying on basis to resell on
advances. Local spot people with Eu
ropean connections say that continental
spinners have been alarmed by reports
that staple cotton is hard to secure,
and are buying wherever they ca?i se
cure such supplies.
The early afternoon advance carried
the active months 1S5 to 197 points net
higher with December selling at 20.1 i
or within 3 points of the day's limit
under the maximum .fluctuation rule.
Reactions of 20 or 25 points followed,
but the' market continued very active
with December ruling around 1S.92
shortly after 2 o'clock.
CLOSE NEW YORK FUTURES.
New York, Sept. 6. The cotton
j n.arket closed stron
Ooen -High
Low Close
18.75 19.88
19.20 20.20
19.20 20.23
Oct. 18.75 19.8S
Dec 19.35 20.20
Jan 19.50 20.23
March 19.80 20.45
19.35 . 10.4
May 19.75 20.50 19.50 20.50
3IE1V YORK SPOT COTTON..
New York,, Sept. 6. Spot cotton
quiet; middling 20.10.
NEAV ORLEANS COTTON. i
New Orleans, Sept. 6. A rise of more
than a cent and a half a pound at- j
tended the early trading in cotton
today. Brokers found a iarge accumu- i
lation of buying orders over the holi-
daj'S when the trading of the new j
week opened. The outside demand was
heavy. Bullish sentiment was made
stronger by wide advances and heavy
sales of spots in the Liverpool market.
At the end of the first hour of busi
ness prices were 151 to 164 points up
with October at 19.07 and March at
19.56, all months standing at new
high levels for the season.
On reports that spot cotton was
trading at an advance of 200 points,
the advance in contracts was widened
to 190 to 196 points, May touching
20 cents a pound before 11 o'clock.
October rose to 19.48 and was still
the strongest month, showing a net
gain for the season of -practically $10
a bale.
In the late trading all active months
rose to the full limit of fluctuations,
200 points, over last week's close, on
rumors that spot buyers were paying
an advance of 250 points for the cot
ton they wanted. ' December touched
19.85 and March 20.05, the latter being
the second month to cross the 20-cent
level.
CLOSE NEW ORLEANS FUTURES.
New Orleans, Sept. 6. The cotton
market closed strong at net advance of
200 points.
Open High Low Close
OCt 18. 19.48 18. oO 19.19
Dec 19.10 19.85 18.92 19.85
Jan 19.25 19.88 18.95 19. 8S
March 19.35 20.05 19.19 20.05
Mav 19.44 20.10 19.05 20.10
NEAV ORLEANS SPOT COTTON.
New Orleans, Sept. 6. Spot cotton
firmer, 200 higher: sales on the spot
6,254 bales; to arrive 2,657.
Low middling 17.00; middling 19.00;
good middling 20.00.
Receipts 3,687; stock 404,358.
LIVERPOOL COTTON.
Liverpool, Sept. 6. Spot cotton ii
good orfllnary 10.63; ordinary 9.88.
middling 13.33: fully middling 12.88
middling 12.43; low middling 11.63;
rood ordinayr 10.63; ordinary 9.88.
Sale3 15.000 bales, including 9,500
American. Receipts 11,200 bales, ail
American.
Futures closed steady. September
13.04: Otober 13.00; December 12.88
January 11.75; March 12.53; May 12.41;
July 12.26.
SUGAR.
New York. Sept. 6. The raw sugar
market quiet.
Refined unchanged at 5.90 for fne
granulated.
Refined futures were nominal.
SILVER.
New York, Sept. 6. Bar silver, do
mestic 99 1-4: foreign 63 5-8.
Mexican dollars 48 7-8.
COTTONSEED OIL.
New York, Sept. 6. The cottonseed
oil market closed strong. Prime sum
mer yellow 9.65 to 10.00; prime crude
7V75; September 9.68; October 9.7o; No
vember 9.72: December 9.79; January
9 80; February 9.85; March lO.Oo; April
10.05.
Total sales 60,300.
Glebe
Wall Street 1
L
New York, Sept. 6. The compromise
agreement between the Mexican gov
ernment and American oil interests e. Keceipts or nvestocK were neavj
announced last week, resulted in buoy- today but on account of the fact that
ant advances of some of the Mexican i the market was closed yesterday it
oil shares at the opening of today's v.-as expected that the number of ani
stock market session. The first quo- mals would show comparatively large
tation for Mexican Petroleum showed
a gain of four points from last Fri
day's final price, this soon being in
creased to 6 1-2 points. Pan-American
Petroleum gained 2 1-4 points. General
Asphalt 1 1-2, and otfher prominent
oils, domestic as well as foreign,
made advances ranging from large
tractions to one point. Further exten
sive short Covering was noted in
Bethlehem and Crucible Steels, Bald
win Locomotive, Studebaker, Kelly
Springfield Tire, American Interna
tional. Sears-Roebuck, Southern Paci
fic, Retail Stores and the coppers, all
of these showing marked improve
ment. Activity slackened visibly during the
mid-session but prices made further
unward progress ShiuDiners. sugars
and tobaccos were added to the strong
issues of the morning.
Rubbers and
related specialties were benefitted by
the increased strength of motors and
equipments.
The closing was easv. Sales
proximated 7 00,000 shares.
NEW YORK VTOCK LIST.
ap-
Last Sale.
Allis-Chalmers
American Beet Sugar
American Can .
American (Jar & Foundry
American Hide & Leather pfd
American Interntaional Corp..
American Locomotive
American Smelt. & Ref
American Sugrar . . . .
American Sumatra Tobacco . .
American T. & T
American Tobacco Sec
American Woolen . . . . . .
Anaconda Copper
Atchison . . . .
Atl, Gulf & W. Indies .. ..
Baldwin Locomotive
Baltimore & Ohio
Bethlehem Steel "B"..,
Canadian Pacific
Central Leather
Chandler Motors
Chesapeake & Ohio
Chicago, Mil. & St. Paul
Chicago. R. I. & Pac
Chino Copper . .
Colorado Fuel & Iron . .
Corn Products
Crucible Steel
Cuba Cane Sugar
Erie i. . .
General Electric ..
General Motors
Goodrich Co. . .
Great Northern pfd
Great Northern Ore ctfs . .
Illinois Central
Inspiration Copper
Int. Mer. Marine pfd ..
33 1-4
30
27 1-4
120 1-8
50
30 1-2
87
36 1-4
62
43 1-8
100 3-8
73 1-1
36 7-8
85 S-4
25 1-4
80
37 3-4
r.t 1-2
112 1-S
27 5-8
44
54 1-2
25 1-2
32 3-4
23 1-4
23
69 3-4
58 1-4
8 1-2
13 1-i
123 7-8
10
32 1-2
72 3-4
28 3-4
95 1-8
33 1-8
45 3-S
International Paper 44
Kennecott Copper 19 1-8
Louisville & Nashville 107
Maxwell Motors ' . .
Mexican Petroleum 109 1-4
Miami Copper 20 3-4
Middle States Oil
11 7-S
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 & W. Va
Ray Consolidated Copper . .
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
Texas Co
Texas & Pacific . . ....
Tobacco Products . .
Transcontinental Oil .. ..
Union Pacific
U. S. Food Products
U. S. Food Stores . .
U. S. Ind. Alcohol
24 1-2
109
71 1-2
16
95 3-4
73 1-4
8 3-8
1 3-4
48 1-2
38 1-8
55 1-2
26 1-4
12 1-4
67 3-4
48
50
37 1-8
20
77
20 1-8
106 7-8
74 3-8
7 3-4
36 1-4
23 1-2
68
7 7-8
119
17
54
46 1-2
U. S. Rubber
48 1-4
U. S. Steel 76
Utah Copper
48
44 1-4
6 1-4
25 1-4
84
35
35 1-4
5 1-2
35
106 1-2
31
123 7-8
7 3-4
48 1-4
Westinghouse Electric
Willys Overland . .
Pure Oil
Atlantic Coast -Line . .
Coca Cola
Gulf States Steel . .
Seaboard Air Line . .
Sloss. Shef. Steel & Iron
United Fruit'
Virginia Caro. Chem . .
American Tobacco . .
American Zinc
Gen Asphalt
SAVAXSAH NAVAL STORES.
Savannah, Ga., Sept. 6. Turpentine
firm 60 1-4; sales 341; receipts 577;
shipments 338;xstock 8,738.
Rosin firm; sales 1,365; receipts 1,
482; shipments 2,185; stock 74,723.
Quote: B 3.70 to 75: D 3.70 to SO:
E 3.80 to S3; F 3.95; G 3.95 to 4.00;
30; M 4.30 to 40; N 4.45 to 50; WG
5.15; WW 5.55 to 60.
NEGRO KILLED AT
CHERRYTOWN PICNIC
Floyd Moore, negro, died at thi
Good Samaritan hospital at 1:10 o'clock
Tuesday from pistol shot wounds lr
fUcted by Tom Williams Monday after
noon during a big picnic and Labor
Day celebration of negroes in Cherry-
town. Williams ran after firing ;ix
times at Moore. He had not been cap
tured Tuesday afternoon.
The cause of the quarrel was un
known to the several hundred negro
at the picnic, the police were informant.
The crowd was quite dense whore
Williams and Moore were standing
when the former drew a pistol and
shot five times. Moore was hit in the
breast but he brought out his kni;'e
and staggered towards Williams. An
other shot- was fired which brought
Moore to the ground.
The police were not notified of .h3
shooting until a half-hour later, the
call coning in about 415. They thou-Kt
Moore dead and immediately organized
searching parties to scour the wool3
adjacent Little Sugar Creek south if
the city for Williams. A hundred ne
groes joined with the officers in min
ing the search. After shooting Moo ?,
Williams walked through the big crowd
and escaped without an attempt being
made to -capture him, the police said.
Moore was taken to the Good Sa
maritan hospital. First reports to po
lice headquarters were that he nad
been killed. Coroner Frank Hovis in
vestigated and discovered v the wounded
negro was still alive. A punctured
lung and other wounds in vital orgara
caused his death Tuesday afternoon.
Several hundred negroes -were at
tending the picnic and baseball game
in the field near Cherry and Lutheran
streets wjaen the shooting occurred.
HARRISON TAKEN TO PEN.
Greenville, S. C Sept. 6. Tom Har
rison, convicted of manslaughter in
connection with the killing of his wife
and sentenced to serve 15 years in the
State penitentiary, today was taken to
Columbia for incarceration in that in
stitution. Counsel announced that no
effort would be made for the present
to have Harrison transferred from Vn
penitentiary fcack to Greenville, pend
ing the appeal to the Supreme Court.
TO TRY GOSNELL SEPT. 26.
Greenville, S. C Sept. 6. Jake Gos
nell, former deputy collector of inter
nal revenue, charged with the murder
of Sheriff Hendrix Rector at a local
garage July 4, 1919. will take prece
dence over all cases at the court ot
ceneral sessions
which convenes at.
Pickens S C, September 2t, it was
announced today by Solicitor David W.
S ak - - -
CURB
BONDS
STOCKS
Live Stock 1
L
Copyright, 1921, by News Publishing Co.
Union Stock Yards, Chicago, sepi.
fisrures. The bier run of live mut
tons was expected to cut values but
it was found that much of the stuff
consisted of feeders and this helped
the market for killing grades. In the
hog house the trade was uneven. (
IteceiptS 01 livestock. ior me luuai
vards todav were estimated at 20,000
cattle, 38.00a hogs, 33,000 sheep and
lambs and 3,000 calves.
CATTL52: Best steers were general
sradw selling below $9, however, and J
some deals were lower.' Prime year-
lings sold at $10.50 to $10.75, with lop j
lots placed at ? 10.85. About 2,00 j
western cattle arrived during the day
and the trade was weak. Choice cows
and heifers sold at unchanged values
but others were weak. Canners at
$2 to $2.75 and best cutters around
$3.50 were easy, while bologna bulls
again found a slow outlet. Calves
were steady. Outsiders paid $13.50 to
$14.00 for top lots whiie good vealers
went to packers at $13.
HOGS: Opening hog trade was
about steady compared with the aver
age of the previous season but later
the market was mostly 15 to 25 cents
lower. Top lots made $9.50 early.
Rough packing hogs sold below $7
and sellers had many unsold hogs at
the closh of the trade.
SHELP: Lambs sold better than ex-
pected. The general trade was strong
to 25 cents higher, with choice west
erns placed at $8.50 to $8.'K while good
native lambs sold at $8 to $8.25. Few
aged muttons were in the pens. Values
.were unchanged, some choice ewes go
ing at $3.50 to $4.
CHICAGO LIVESTOCK.
Chicago, Sept. 6.
CATTLE: Receipts 20,000; market
slow to generally steady, tending lower
on common and medium steers; bulk
fat she stock 4.50 to 6.75; bulk beef
steers 6.50 to 9.75; canners and cut
ters mostly 2.50 to 3.50; bulk bologna
bulls 3.40 to 3.S5; butcher grades 4.25
to 5.75; veal calves 12.75 to 13.25;
stecker nad feeder steers weak; bulk
oJib to 6.50.
HOGS: Receipts 38.000; fairly active
10 to 25 cents lower; bulk of sales 7.15
to 9.35; top 9.50 early; heavy weight
8.00 to 9.10; medium weight 8.90 to
9.40; light weight 8.90 to 9.40; light
lights 8.05 to 9.35; heavy packing
sows smooth 6.90 to 7.7 5; packing sows
rough 6.65 to 7.00; pigs 8.00 to 9.00.
SHEEP: Receipts 33,000; fat lambs
strong to 25 cents higher; top natives
to city butchers 8.25; packers top 8.00
early; western lambs top early 8.50;
some held higher; sheep active; fully
steady; feeder demand strong; no early
sales.
Grain larket
I
I
Copyright, 1921, by News Publishing; Co.
Chicago, Sept. 6. Wheat scored anoth
er sharp rise today in the lead of other
grains. Trade was active and broad dur
ing the first hour and buying power vast
ly powered. The advance if over 100
points in the cotton market, strength in
&tocks and securities and the news from
Washington that che War Finance Cor
poration had been about "completed ar
rangements for the $1,000, 000. t.'OO credits
to rural districts were the bullish fac
tors. Sentiment displayed wore friendli
ness to tiie long trade. Best prices were
not maintained as heavy realizing took
the edge off the market. later. Export
inquiry for wheat today was slow, the
early advance having checked business.
The general improvement noted not only
in finacial but industrial circles tended
to develop a healthier tone in the sure
ties ami were moderately reduced.
Corn met with scattered commission
house buying in sympathy with the ad
vance in wheat, but heavy selling of the
December by- the leading elevator in
terest took the edge off the market and
advances wr hard to maintain. The
market, however, did not want fir sup
port on the weak spots. Cash ruled un
changed to 1-2 cent higher. Charters for
260,000 bushels of corn to Buffalo at
2 cents was reported. Movement of corn
off the farms continues in liberal valume.
Oats displayed a better tone and rose
easily with wheat, with commission house
buying the feature. Hedging sales on
the upturn by cash interests checked
the advance. Cash marke s wore 1-4 to
1-2 c?nt higher. Demand for heavy weight
cats were reported to active but shipping
business was only moderate. Country
efferings were reported as limited.
Provisions did better in syrnpathy'with
grains. Commissi- houses nought the
January lard early while packers and
cash interest sold. Hogs at the yards
ruled dull and unchanged .
Chicago, Sept. 6. There was an up
turn in all grains on the board of
trade here today. Wheat opened 1
1-2 to 3 1-2 cents higher; corn 1-4
to 1 higher and oats advanced 1-8
to 1-2 over Saturday's close. Ad
vance in cotton and stocks and the
War Finance Corporation's statement
stimulated general buying. wneat
opened at 1.28 to 1.30 for September;
1.30 to 1.31 for December and 1.35
to 1.35 1-4 for May, the latter being
a new high for the crop. Selling
against offerings checked the bulge in
wheat but an hour after the opening
it had retained a majority of its gain
and was still 2 1-4 to 3 higher than
Saturday's finish.
Corn stayed within narrow limits
during the first hour and at the end
of this time was a shade to 5-8
higher than Saturday's close.
- Oats also showed strength at the
opening with September at 35 5-8..'
Provisions displayed early strength.
Wheat closed unchanged tp 1 3-4
advance over Saturday's close with
September at 1.26 1-2; December at
1.29 1-2 and May at 1.34 to 1.34 J-4.
Corn closed unchanged to 5-8 cent
lower than Saturday's close.
CHICAGO CASH GRAIN.
Chicago, Sept. 6. Cash: Wheat No. 2
red 1.30 1-4 to 1.31 1-4; No. 2 mixed
1.29.
Corn, No. 2 mixed 55 to 56; No. 2
yellow 55 1-2 to 56 1-4.
Oats. No. 2 white 33 1-2 to 40; No.
3 white 35 to 36 1-2. ,
Rye. No. 2.. 1.07 to 1.07 1-2. '
Pork nominal.
Barley 53 to 66.
Lard 11.87 to 11.92.
Ribs 9.00 to 10.25.
Timothvseed 4.00 3.00.
Cloverseed 13.00 to 19.00.
CHICAGO GRAIN AND PROVISIONS.
Chicago, Sept. 6.
upen nign low uiose
WHEAT
Sept. . . .
Dec. . . .
CORN
Sept. ...
Dec. . . ,
OATS
Sept. . . ,
Dec. . . ,
PORK
Sept. ...
LARD
.1.28
.1.30
1.30
1.30
1.26i,fc 1.26 V,
1.29 1.29
55 55 53 , 53
54 55 Vb 54 54 Vs
35 36 35 35
38 3912 38 y2 38 &
' 17.60
12.00 12.02 11.87 11.87
12.00 12.10 11.92 12.00
8.95
9.20 . 9.25 9.10 9.10
Oct.
RIBS
Sept.
Oct.
MONEY AND EXCHANGE.
New York, Sept. 6. -Prime mercan
tile paper 6 to 6 1-4.
Exchange weak; sterling 60 day bills
and commercial 60 day bills on banks
3.65 3-8; commercial 60 day bills 3.65
1-4; demand 3.69 3-4; cables 3.70 1-4.
Francs, demnad 7.60 1-2; cables 7 61.
Belgian francs, demand 7.46 1-2;
cables 7.47.
Guilders demand 31.50; cables 31.56.
Lire, demand 4.32: cables 4.32,1-2.
Marks, demand 108; cables 1.08 1-2.
Greece, demand 5.65.
Sweden, demand 21.40.
Norway, demand 12.95.
Argentine, demand 3.25.
Brazilian, demand 12.50.
Montreal 10 per cent discount.
Government bonds steady; railroad
bonds firm.
Time loans steady; bu nays, so aajs
i and 6 months o 6-i to t per cent,
Call money firm; ruling rate 5 1-2;
'cali loans against acceptances 5 1-2.
SEASON TICKETS
PLACED ON SALE
Carload After Carload of
Exhibit Material is Ar
riving Daily.
Carload after carload of exhibit ma
terial is arriving daily at the Carolinas
Exposition building, on West Palmer
street, and scores of workmen sent
here by the exhibitors are busily en
gaged in developing the displays, of
which there will be more than 200. The
exposition is rapidly taking the form
it will have next Monday when the
doors will be officially thrown open la
the public of the Carolinas.
One of the largest exhibits is that cf
the American Tobacco Company, 30,
000 pounds of their exhibit material al
ready naving been unloaded. The big
been constantly unloading their ship
ments during the past few days. Ex
hibitors in a number of the cities and
towns have made up solid carloads ,ul1
Ex-
d
up solid carloads ui
these shipments are being unloaded
rapidly as they arrive. There is a trs
mendous amount of work involved in
the placing of the exhibits, but Build
ing Manager Bryant declared the ox
position will be complete by Saturday
night.
Season tickets to the exposition went
on sale Tuesday.
FALL HANDICAP GOLF
TOURNAMENT PLAYED
The fall handicap golf, tournament.
played Monday on the links of the Char-
lotte Country Club, resulted in ties in
each of the three flights.
In Class A. C L. Speake and W. W.
Moore tied with net scores of 69. Mr.
Speake turned in a gross score of 81,
and hid a handicap of 12. Mr. Moore
turned in a gross of 86 from which
he deducted a handicap of 17.
In Class B, C. B. Wilson was the
winner with a gross score of 90, a
handicap of 20 and a net score of 70.
E- L Mison and G. S. Crouch were
tied for second place with net scores
of 73. Mr. Mason had a gross score
of 98 and a handicap of 25; Mr. Crouch
had a gross score of 95 and a handicap
of 22.
,In Cla3s C, Lorcn Charnley won with
a gross score of 107. a handicap of
35 and a net score of 72. R. Z. Linne.v
and J. S. Love were tied for second
place with net scores of 74. Mr- Lin
ney had a gross score of 105 and a han
dicap of 31 while Mr. Love had a gross
of 101 and a handicap of 27.
Prizes went to first and second posi
tions in all flights.
NEW NOTE ADDRESSED
TO ALLIES BY HUGHES
Washington, Sept. 8. The United
States Government has addressed a new
note! to all Allied powers on the subject
of mandated territories.
The communication was understood
to refer specifically to class A and B
mandates as administered under the
League) of Nations and to reiterate the
rosition of the United States Govern
ment with regard to rights In in tndated
territories.
Official announcement that the Tiote
had been dispatched last W( k was
made today at the State Department.
The note was described as c vering
in full the question of mandates, al
though department officials declined to
discuss its contents until they had re
ceived assurances it had reached the
various governments to 'which it had
been sent. Replies were exoocted with
in twenty-fcur hours, officials said, and
arrangements were being mad-e for the
publication of the text within that time.
FORSYTH'S TAX RATE
MAY BE LOWERED
Winston-Salem, Sept. 6. The tax
rate of 50 cents on the $100 property
valuation, fixed by the county commis
sioners last week .amy be changed- J.
D- Waddill, a member of the board,
announced to his associates this after
noon that he had decided to enter an
objection to the rate as fixed. Last
year it was 35 cents and it is known
that much objection and criticism is
being made regarding the increase at
this time.
Evangelist Mc7.endon, better known
as "Cyclone Mack," who is conducting
a tent meeting at Spencer, has ac
cepted an invitation to make an ad
dress in Winston-Salem on Monday,
September 26, the day following the
close of the great revival at Spencer.
DRY WEATHER BURNS
UP CROPS IN HARNETT
Lillington, Sept. 6. Farmers in this
county are gravely concerned for the
first time in years for the safety of
their. crops. Never before in the mem-
ory oi me uiuesi iiiiiauiLctm. naa incic
been such a drought. Cotton, which
has been coming along in fine shape,
with every promise of a full "top crop."
is withering in the field and ybolls ate
shedding. If rain doesn't come in the
next day or so, the damage in "this
county will be considerable. Young
corn has been almost wholly destroyed
by the dry weather and heat.
ODD FELLOWS OF
CHARLOTTE PICNIC
Odd Fellows of Charlotte, together
with their families and friends, gathered
at Lakeside Monday evening for a picnic
supper and evening of social enjoyment.
Ice cold watermalons in abundance were
provided, and fried chicken and other
good things to eat were brought out arid
served in picnic style. There wore about
100 present. W. S. Greene was chairman
of the picnic committee and J. Ji. -3um-msrrow
was master of ceremonies.
NEW COTTON COMING
TO MARKET AT DUNN
Dunn, Sept. 6. New cotton has been
coming to market at the rate of about
twnty-five bales a day for the last sev
eral days, although most ot tne larmers
show a disposition to hold for twenty
cents or more. Much of the crop held
over from last year Is also being
brought to market since prices passed
the sixteen-cent mark last Thursday.
The local crop, in spite of a two
weeks drought, is in fairly good condi
tion. If rain comes within the next
day or two, it is probable that the Dunn
district crop will be in the neighborhood
of 30,000 bales. Normally the crop is
close to 40,000 bales. Of this quantity
Dunn markets about five-eighths and
Duke three eighths.
MIKE GIBONBS SOUGHT.
St. Paul, Minn., Sept. 6. Mike Col
lins. manager of Mike Gibbons, St
Paul middleweight boxer .announced
today that he had received a telegrxm
from Tex Bickard in which the New
York promoter requested Gibbons'
terms for a match with Johnny Wilson
to be held at Madison Square Garden
on September 30 or October 3.
. APPALACH LAN LEAGUE.
At Knoxville 8-3; Cleveland 3-0.
At Bristol 0-2; Greenville 2-1.
At Johnson, City 5-5; Kingsport 9-4.
POWER FAMINE
SLIGHTLY FELT
Southern Power Company
Unable to Run Plants on
Full Time.
The severe and protracted drought
throughout the two Carolinas is be
ginning to affect the light and power
situation in the two States, according
to officials of the Southern Power Com
pany which generates electrio power
lor a majority of the larger industrial
plants as well as for two score or more
towns and cities.
Tlv? rivers are running low, so low,
in fact, these officials assert, tnat it
is impossible to run the machinery
in the several plants except on partial
time.
The impounding plant at Bridgewa
ter which controls the flow ot water
in the Catawba, the stream along
which the majority of the plants of the
Southern power are located, is pouring
its vast storehouse unrestrictedly into
the river, the two outlets from the dam
into the river being wide open both
day and night. These emergency has
effected a decrease in the supply of the
water in the impounding plant material
ly so far, the registration showing a de
crease of nine feet in the depth of this
stored supply.
One looking at the rivtr as it fiowa
through Mecklenburg county would not
he impressed with the scarcity of wa
ter. The river seems to have a normal
flow, but officials of the company ex
plain that the volume, of water which
may be seen in the river at this county
is pratically the same as the volume
that is touching the plants in South
Carolina, ho increase being noted furth
er southward as might be expected from
the number of smaller streams ' that
empty into the river over that dis
tance. Officials of the Southern Tower, citing
these facts, contend that the present
situation shows beyond speculation the
necessity for such an impounding plant
as the- company has established at
Bridge-water and they are of opinion that
but for the existence of this plant the
power developments would not be able
to survive the drought
As the situation is, some of the cus
tomers of the company are being denied
power in normal volume. It is im
possible to run tiie power stations at
full blast and the process of cons?rv
ing power has already been set in mo
tion to the end that what amount is
available may be impartially distribut
ed. RESUMPTION OF WORK
IN PETROLEUM FIELDS
Mexico City, Sept. 6. Wholesale re
sumption of work in the Tampico oil
district is reported in dispatches from
that city. Hundreds of workers are
returning to tbe petroleum ficldsmvbero
operations have been resumed as a re
sult of the agreement between large
American oil companies and the Mexi
can government, reached last week.
Production taxes, which covered levies
made on oil held in storage by Ameri
can dompanies in Mexico, were paid by
a majority of the companies yester
day, according to i n unofficial statement
to the newspaper Excelsior. This was
in line with announcements made by
oil men last Saturday following the
agreement with the Government. It is
understood that the export taxes have
not as yet "been paid, but as these were
for the month of July, were Insignifi
cant and were not due until August
25, it. is believed arrangements for their
payment will be made soon- Payment
of the taxes will lift automatically the
Government embargo on the funds and
holdings of oil companies.
CHAR. NAT. BANKERS
DEFEAT WACHOVIAS
The Charlotte National Bank Ball
Team celebrated Labor Day by going
to Winston-Salem, and being victorious
over the Wachovia Bank and Trust Co.,
team of that city by a score of 15 to 6.
The Charlotte boys led off in the first
inning for four safe hits and crossing
the plate three times, and repeated
this dose in the second with five hits
and four runs. The Charlotte boys
earned fourteen out of their fifteen runs.
The Twin City Bankers distributed
their runs through the nine innings,
earning four of their five runs-
Moore of Charlotte was in his regular
good form, striking out 10 men.
Boboett of the Watchovia's was remov
ed in third inning the Charlotte Bank
ers having secured nine hits off his
Submarine' ball. Rainey, who replac
ed him. pitched a fairly good game.
Three base hits Austin 2.
Two base hits Duval, Moore 2, Mill
er, Moon, Brower.
IIXY MULLEN RECALLED.
Mobile, Ala.i Sept. 6. Billy Mullen,
third baseman of the Mobile, Southern
Association, club, has been recalled by
the St. Louis Browns and will io;n
them at once, Mullen was sent to Mo
bile two 'years ago by St. Louis ir
has developed into one of the best field
ers in the league. He is hitting .27L
AMERICAN ASSOCIATION
At Milwaukee 7-6; Kansas City 1-5.
At Indianapolis 8-7; Louisville 1-3.
At Toledo 6-3; Columbus 5-2.
At St. Louis 1-6; Minneapolis 10.4.
EXECUTRIX'S NOTICE Ttf CREDI
TORS. Having qualified as Executrix of the
Estate of W. W. Ward, deceased, late
of Mecklenburg County, North Caro
lina, this is' to notify all persons
having claims against the Estate to
present them to the undersigned, duly
proven, on or before the 6th day of
September, 1922. or this notice will
be pleaded in bar of their recovery.
All persons indebted to the Estate
are requested to make immediate pay
ment. This the 6th day of September, 1921.
ISABELLA WARD.
Executrix of Bstate of W. W. Ward,
Deceased, no crescent Ave., unar
lotte, N. C. 9-6-6t-oaw
TRUSTEE'S SALE.
Under and by virtue of the power of
sale contained in that certain deed of
trust made and executed by Helen B.
Carroway and husband, G. B. Carro
way, to me as trustee, and in accord-
ance with the terms therein set forth,
default in the payment of the indebt
edness thereby secured having bee.i
made, and demand having been made
by the holder of the notes thereby
secured upon me-to sell, as in said deed
of trust provided, which deed of trut
Is properly and duly registered in the
office of the Register of Deeds for
Mecklenburg County, North Carolina,
in Book 448 at page 158, I will offer
for sale to the highest bidder for cash
at the courthouse door in the city of
Charlotte, N. C, at 12 o'clock noon,
on Monday, October 3rd, 1921, the
same: uemg Liie uiai munuaj in -
tober, all that certain tract ot land
described In said deed of trust,
and bounded as follows:
Beginning in the center of the Beat
tys Ford macadam road on the south
line of the Dower tract and runs S.
89. W. 825 feet to apple tree: thence
N. 37 W; 518 feet to an iron pipe,
formerly a cedar; thence N. 23 1-2
W. 348 feet to a stake; thence N. 16
3-4 W. 931 feet to an iron pipe, David
son's line; thence with said line N. 73
1-2 E. 1606 feet to the center of the
aforesaid road; thence with the va
rious courses of the said road 2125
feet t the point of beginning, con
taining 61 acres, more or less.
This sale is made to satisfy a debt
for money used in the purchase of the
above described land.
This Sepember 3, 1921.
y W. H. WILLIAMS,
9-6-4t-oaw Trustee.
j 1 tures.
v . 1