THE CHARLOTTE NEWS, CHARLOTTE, N. C, THURSDAY AFTERNOON, SEPTEMBER 15, 1921.
15
LIVESTOCK
COTTON GRAIN
RvT
A v J I
LITTLE CHANGE
IN HIE MARKETS
Differences of Opinion in
Speculative Circles as to
Prices.
Hy S'l'UAKT P. WEST.
Muff Corrchpoml of The News
M rislit. by News Publishing Co.
,-u on;, opt. ip. rrice move-
t
again unay reiieetea a great
of d ifference of opinion in specu
. i ircies. 1 he debatable point
however, the immediate specula-
position and not the outside trade
it ion which nearly everybody ad
now has definitely turned for the
T.
ot:.t -taking' was the governing
in-
:i' e i
in cotton and wheat, winch
has
, .-'! taking its cue from the devel-
..-nts in the cotton industry and
'i.-en sousing a possible parallel
t ', train trade, lost its- buoyancy.
! ; stock exchange, the profes-
.. - wore incline;! to sell at the
:;. on the theory that efforts to
:; t : i' os up the previous day had
. : hoen successful, and that, no
: ; following having been attracted.
o po.ds and syndicates might rind
;! it was potter policy to let prices
' i nit.
: :i operations based upon this view
r. .t sret very far. for the simple
mat mere ooing no pontic in
market, there was nobodv keen
.,: s-Ml.ng when stocks were offore I
, !. . he market merely proved dull
the speculative leaders dropnol
i point or so. and the early de
: , was followed later on by re
vod buying in various selected is
Baldwin Locomotive. American
! and studebaker rallied easily
i istttal Alcohol and American Su
! turned upward against a belated
rt interest ana one or two narrow
-; i i.-'.tics ot the type of Burns Broth
. . ana i a cine leiepnone were old in
- .-arp'.v.
r -emotions hat there might be
- p. tiling of a money flurry preceding
m ul-septem per tax payments and
...eminent bond distribution went en
astray, just as they had done
the same season a ye'ar ago. Not
: . was there no hardening of money
.:. but the market was more em
.....tu-ally established on its lower
than any day so far. Time
-is were offered freely for periods
one and two months at 5 1-2 per
and for six months at 5 3-1.
iM money for the first time in a
.might loaned on the stock ex
a:ige at 4 1-2 per cent although
ias tieen the ruling rate all wee
lie outside market
A tier making a new low record at
1 1--. Gorman marks recovered some-
',a. and this cheeked the soiling in
v.; ties exchange and also in setrling.
Sterling, in particular, had quite a fair
-bound in the afternoon. As it turned
:f yesterday's gossip about a further
'kietion in the English bank rate prov
1 to be entirely unfounded. The bank
1 succeed. however. in materially
ivngthening its position during the week
reserve ratio, thanks to heavy re
i tnient by the government, rose from
' ' per cent to 14.98 per cent. There
as some reduction of government obli--ations
also at the Bank of France, and
further decrease in circulation, but
changes for the better were offset
i an increase in advances to private
-.rrowers. There was nothing in the
-'atement to tit row any new light upon
I.,, rocent weakness in French exchange.
Tiie explanation is adequate, however,
at tlie decline in francs is due to mis
i ings regarding Germany s ability to
t the next reparations payment in
.ash.
I.i was altogether the least interest
ing stock market of the last two weeks.
The abrurt falling oft in the volume
if business was an indication of ;ev
largely the recent buying movement ori
ginated in highly speculative quarters.
As soon as poo) operations relaxed, their
fTorrs th- market return d to c.'Min-ira
live rlu.' -.-s. The iiu'dir. x up ot a
alf dozen rt so in '.v.slrial speeiuliie:
a sod im'c' vy through the afternoon at o
n tin- lust hour priced lipoed off gen
rally.
There was no signil icanc whatever in
ne little r!., in the final dealings, beyond
.. obci.i: fact that psW: -s havinsr bad
.f-r two ' .t-'.m contiioto :s rise w. re na
.trail v f'uc for some reH-.t u-ii. 1 ne ! jt: e
mm.''. I ;iP' ties to colcju, v.iuch also
is goir.-T through a normal recoil from
i.e tinus-i'. excitement cf a wee kigo.
Ii i ir: :ici f reason for the chock tc
e exuberant cotton speculations ha
f eonr e l)e,ii vhe discovery tint '.he
..iton jo ids trad.' sv. s ri 1 ciant t. fol
.ii- up ,mv such extreme aavanres as
1 hvh occurred on single days, although
-..otrnizinK that the main upward move
i:v tit has been amply justified by th'
-'firtage in the new crop already report
--; mi'l the further decrease which, the
nrs at the end of the prsert month
r almost certain to show.
MON'KY AND EXCHANGE.
New York. Sept. 1". Prime rnerean-
tianer f 7-S to 6.
Kxehange irregular; sterling 60-day
ils and commercial 60-day bills? on
,'iks ?..firt :",-4: commercial 60-day bills
-.n n-s: demand 3.70 1-4: cables 3.70
4
francs, demand 7.02: cables 7.02 1-2.
;eiman rraius, uemana t.y.,
: 1-2.
ables
; lilders. demand 31.33: cables til. 39.
i. r.- demand 4.25 1-1: cables 4.25 3-4.
Marks," damand 91; cables 91 1-2.
iltf-e' e, demand .".45.
.-tvf.'ien. (leman.1 zi.
rwav, rleman I
gentine, demand 30. 7o.
'izili-in. demand 12.50.
ntre.al 10 1-2 per cent
I:
discount.
.vernment bonds strong;
Is irreeular.
re loans easier; 60 days
-2 per cent; 6 months i
railroad
90
rlayi
4 per
ii money easi
loans against
-r. Ruling rate o.
acceptances 5.
EVERYTHING
In High Quality
Building Materials
fTTWE have one re-
quest to make of
JJ aur customers.
Whenever possible place
your orders a day in ad
vance. Building necessi
tates frequent emergency
calls and we try to take
care of these on the spot.
So try to figure a day
ahead.
CITIZENS
Lumber Company
South Boulevard
Phone 3472-3473
ARICET QUOTATIONS. FIMANOAI . N1W
auirED BY STTART
Features
By STUART IV ivfst
Staff I orrexpoudent f The New
P nght, 15)21, hy Publishing C o.
BALDWIN LOCOMOTIVE
The big buying in Baldwin 1
again today came from hrnkr .:,,... . ..1
Z .HTT"1 a we" knfnvn operator -a ho
recently became a convert to the bull side
l lie street did not, however n-5
operator credit for onti r 'Vr
It thought that lie was merely hoiin.
a pool.
PENX SIC A BOARD STEEL
The strensrth in Penn sni.v.i t(..i
imn again tod iv was
set down to the activities of a ne.vlv fo'-rn
eel pool. This nool im r,
. 1 . . v 4 11 1 I. V I 1(1,1 1 J I
riiueuiar to WOrK now linon pvwnt tint
;. i iidiiuung a low priced stock
which
it in nne to benefit from
ta.r. r. turning
conncience regarding the
At the same time a little
steel outlook.
refit. :ted trior
can oe borrowed from
the l. aui.v in lAicc
motive move, because
naiawm is a ousio-
Ml" J. ' fin oeaooarn ano :nv-
in-treasc
in us Business will heln Uic
i.eel com-
panv
Tin; position or poors
There wis considerable discus.::, Miif?
morning regaidh.a; the niKii n.n rf -.
pools which have been showiivr their band.-.
in the market ot. the last wo.i v. One com
ment was Mvit these pools had pushed
prices up but had attracted no nai.iin
following anil were ther-L cr looking
around in vain for the mensi of riis-ii.-:i-
mo men &iocks. me oppo -ife new was
mat, technically .it was a good thing tr.at
the public were not in, tint wb.n an
outsider following get sino a market,
the inside position becomes a.i';. k Tor
uie supuoscu anxiety or tao v.oo.s to tt
1.
out with their profits, this was verv much
doubted. For the first t ime in von rs
Wall Street syndicates can get an anii.''e
supply or ijong term money at verv tav
uiuuie rates. iney can uorrow lor six
months on all industrial eo;';:terai at
5 o-4 per cent. Therefore the question
is raised : "Why should the ooots be in
a iiunj 10 sen. wnere tnev t;-ei sure
that the stocks they are bulling have
turned the corner and are fully worth
what they are selline for?
BURNS BROTHESS
The rise in Burns Brothers brought
out again the talk cv a me.-j.u- with
l arrell l.oal on terms that would be lav
orable tor the former. U.u it did not rod
this gossip to explain the i-dvauee. Bums
Brothers stock where it had been sllinj:
below 90, has been far out. of lme wiii
oiner siocks or similar earning power
and with like dividends. Burns Brothers
makes its money out of tbi margin be
tween the cost of the coal it buvs and
the selling price to toe coosamer. It
does not much matter whether the -'iee
ai coai is nisn or low no pro ;t margin
runs on steadily, in the i.iw.il year end
ed March 31, last, the M pe- cent elivi
denel was earned twice over and the bai
ance sneet snowed that $375. nou. nous
payable, had been liquidateel during the
year and that accounts payable stood at
1,677,01)0, as against accounts ami lotos
receivable of f4, 000,000. Burns Broth
ers stock today was simply ."ohig up on
recognition that it had been selling
at
prices altogether too low considering
the
the
nnancial position of the company and
ampie surplus above dividends.
NATIONAL ENAMELING
Officials of the National Lnamelinc and
ciamping i ompany have taken pains to
refute the stories which have been goiris
the rouiuls- that the company's business
has suffered from foreign competition. It
has been pointed ut that bm-'ne.ss .is
lOiumg up well and trat thj lmestie
trade continues to iiuv. o.i the i;.sis nr
the earnings lor iho 1'ir.si. i:.iif vi.r. tin:
in ivitnu. il ju .ua e . . i;e tni! t i.tllie.-
thing to spare. As t:u Ji v:ile';d is de
clared tor the year in the ilrst I'Lr it
will not be necessary to think about this
until 1922.
' BOSCH MAGNETO
ljosch -Magneto will begin working ot
the new contract with the manufactur
ers or tne j-iueison and tissex cars on
October 1. This means that the com
pany will have to resume large scale
operations in the production of igimtion
systems. -j nis contract was maete some
time ago but the other party to the agree
ment couiu not at mat lime auoru to
lot it oe Known iieeause ot a previous
contract. In additiem to the ignition
systems, which Bosch will taka care
of it will also make pretty good sized
profits from the sale of Gray ami Dav
starting and lighting systems because it
has the selling agency tor the latter.
COLORADO AND SOUTHERN
Colorado anel Southern shows steady
improvement. The June earnings state
ment brings the estimated return on the
common stock up to seven per cent for
the year ending Dec. 31. lt21. If the
JTily results are made the basis ot an
estimate for the year ending June 30,
ll'22, the snowing tor tne common is
11 1-2. It shoulu not be forgotten that
the Burlington owns $23,657,000 of the
outstanding $31,000,000 common stock of
the Colorado and Southern. No dividend
has
been paiel on these shares since 1912
out
there se-ns to be no reason why
one
should not be paid if the Burling-
ton
management sees tit. ,
r
Bond Market
L
By STUART P. WEST
tnfv 4 'orrrviwuiilciit of The Kens,
ConyriRht. 1021, by News Publishing Co.
New York, Sept. 15. The bond mar
kft derived no fresh impetus, as migm
havp hppn pxneeted today from the
lower tendency of money rates. Prices
were not much changed, but there
were quite as many losses as gains.
finnrlvear 8s. after selling at 102 o-8
came' down to 102. United States
Rubber 7 l-2s held steady around 100,
hut the rubber 5s were a shade lower.
Packard Motor 8s were up a fraction.
ani Pacific Gas 5s. which had sold as
hieh as 83 1-2 yesterday, fell to 8
1-2 Midvale Steel 5s were off a
hnrie. On the other hand, Chile
Pnnnpr issues both 7s and 6s. North
western Bell Telephone 7s and Mer
ontile Marine 6s were all inclined
hitrher. Marlnad Oil 8s, after selling
at 88. rallied to 90. As already
ovniQ inpri th recent weakness In
tiiAB. honds has had nothing to do
with the earnings of the company
which are satisfactory, but is the re
Qit nf their not having been well
distributed in the hands of permanent
in veatnra.
fiih. Game Sugar 7s, which had
closed at 52 1-2 yesterday, broke
tvun nnints. Traction bonds were
lower, with the exception of Third
Avenue refunding 4s, which sold up
a pain of half a point. The
railway list was irregular. Erie first
consolidated 4s and the convertible A's
nrcra. lower while the convertible Bs
...t. Btrnn?er. There was some de
fnr rhicaaro Union Station 6
. -v . " : . .. tt..i
l-'S at 106 1-4 tO JUD union
Tjifir. first 4s were actively dealt in
t S3 .3-4 acainst 83, the day before.
icr. tipw issues of Importance were
tr the nublic today. There
nn nntimieri a erood demand for
M.vin Ks but Japanese securities
: citti inflnoncprl bv the interpre
haueri noon the recent disclo
uiro of Japanese government buying,
,i that this had now been con
'...Hlri French bonds failed to rally,
'i.kno.h TTrtnrh exchange was stead
T'ZiKttlA TCine-dom 5 l-2s of 1937
Anwn nearly a point, and the
V-r'"!, a half a. ooint. The effort
to
accumulate r rem u "v..
,Hhont attract ne undue attention
W clO
once more clearly apparent.
NEW YORK PROVISIONS
firm:
Vow York. dent. lo. 'duuc.
creamery higher
than extras 4o to 4a
1-2; creamery,
extras (92 score) 1
firsts (88 to 91 score)
1-2: creamery
37 1-2
current
Eggs
n 43 l-z: pacKins oiucn.,
make No. 2, 26
. fiota 3T, fo 39.
Cheese
Arm' rin average run e
20
28
in - -
20 1-2.
Live poultry
steady; broilers
to
31.
Dressed poultry unchanged.
P WEST For IS Years Financial Editor
COTTON MARKET
REMAINS QUIET
Speculative Excitement
Arising from Small Crop
Figures Dies Down.
By STUART P. WEST.
Staff Correspondent of Th TV
Copyright, 1021, by News Publishing Co.
New York, Sept. 15. The specula
tive excitement arising from the small
crop figures published at the beginning
of the month and further sitimilifprl
by continued reports? of deteriorating
prospects, appeared to be subsiding At
least tradinsr was much less .Tetive
after a sham onenl nsr flee line this
morning and operators were evidently
more disposed to wait further develop
ments, particularly in connection wth
the attitude of spot holders and good
buyers.
1 he opening was barely steadv at
a decline of 37 to 47 points with
active months selling 48 to 55 points
net lower shortly after the cail, be
cause of disappointing Liverpool
cables and the more favorable weather
n:ap. There was trade buying at the
decline accompanied bv renorts of a
continued stiff spot basis in the south
and. after selling at 19.55 earlv. De
cember rallied to 19.82, with "active
mcntllS srenerallv showine- runfurorip
of about 25 to 30' noints frnm tht earlv
lows. Business then herame almost
eiuil suggesting uncertaintv on both
sides, although, except for the better
weather there seemed no special factor
in the news to unsettle sentiment.
According to local snot dealers the
spot basis in the South remains firm
and one of the statements made dur
ing the morning was that middling
otton could not be bought in Texas
at a price which would make it cost
less than 150 points on October landed
at New York. There were also re
ports that Italy had been a n nvpr of
considerable cotton at the higher basis.
ind the outlook for large exnorti,:
comparatively speaking, were fortified
ry a claim that ocean freight room for
fully 460,000 bales had been engaged
for shipment from Galveston to France
and the continent between now and the
first of January. Some traders think
that the present better weather is
making cotton in the south, this view
being encouraged by yesterday's week
ly weather reports that rains had re
vived top crop prospects in som
parts of Texas. Reports from the
goods trade indicated continued con
fusion, but suggested that hovers wor
not very eager about placing orders on
advances.
CH VllT..-,- rit rnTTfiv
Receipts today, 70 bales at .". .
,20c
SEW YORK COTTOX.
New York, Sent. 15. The
easier
ruling of Liverpool and a.
favorable
early weather man led to
realizing.
wnue there was also consirlpra iif
southern selling in the cotton market
at the opening todav. First nriro s
were barely steady at a decline r.f
to 47 points in consemipnrp hut
there was a good trad dp manrl with
fresh buying which absorbed offerins-
around 19.55 for December and 19.35
lor January, with prices later showing
rallies of 15 or 20 points from the low
est. Private cables reported lionida-
tion in Liverpool with a less active
fffue uemaiKi, out a good otttake in
rutures.
Trading was less active 'thn
cently but the market showed a gen
erally 'Vsteady undertone later with De
crmber working tin to UI S1 or w 1 1 h i n
19 points of last night's closing. There
e 1'iuu.iDiy some nuying on rumors
mat a private mid-inonth report made
the condition of the crop only 40 0
compared with 49.3 at the end of last
montn. mis tailed to msn ro an v-
general activity, however, and the
mamet was almost dull early in the
noon hour with prices a few points
on. iiuin me nest.
A denial Of the rumored rnnrlirinn
oi 4u.u, was rollowed bv nrrasnH
an trei selling during the early
niieinuuu ana stop orders were un
covered on the decline to 19.43 f.ir
.'"ecemoer. or about 2 nnints -it
lower. mis Drought increased cover
ing with the market, showine- mii;?
or 12 or 14 points around 2 n'rln-k
wnen business was very oniet
OPEN NEW YC;m FUTURES.
-ew lork. Sept. In. Cotton future
opened barely steady. October 19.50
December 19.70; January 19.47: March
I'j.zs; aiay ly.is.
n:4o a. m. bids: October 1 1. 47 r De
cember 19.7U; January 19.50; March
iv. t ; Aiay i.zu.
Market steady.
CLOSE NEW YORK
New York. Sept. 15.-
FUTURES.
-Cotton closed
weaK.
Omn T-Tip-li
IjOW
19.30
19.49
19.35
19.25
19.02
Close
Oct 19.50 19.75
19.30
Dec 19.70 19.95
19.32
19.45
Jan 19.47 19.77
March 19.2S 19.65
May 19.18 19.45
19.15
SEW YORK
V.T COTTniV
New York, Sept. 15. Cotton:
pot
quiet; middling 19.70.
NEAV ORLEANS COTTON.
isew Orleans. Sent. 15. ITnripr thr.
enects or a poor Liverpool the cotton
market matle wide declines in the
aany trading today, falling off 54 to
a points in tne nrst hour of the ses
sion, wmcri sent October down to 19.04
ana march to ls.va. .Much liouida
tion came from the Ions side and
more or less short selling- was fpli-
result of favorable weather
over the belt.
:e bureau report on condition
ig a crop of fi.o00.000 halpa
made fo ra steadier feeling and in
n;e uuuiug up to ii o ciock prices
came back to within 21 to 23 points
of yesterday's close. October rpravprod
lO 13.31.
j. ue l eeuverv was susta ined inp a
wnue ana until prices were within IK
to 21 points of yesterday's cIosp hut
toward tne close otterings. increased
and the market softened aeain. in
tne last lew minutes or the session
prices snowed net losses of 45 to 4
points.
iPK NEAV ORLEANS FUTURES.
T,T 1 1 1 . . . . .
xncw oiieans, sepi. in. uotton onen-
eu sreaay. ociooer lv.zs: Ueeembe:
19.30; January I9.0o; March 18. S2; May
19, D.
11:00 a. m. bids: October L9.21: Dp
cember 19.40: January 19.25 askwi-
iuarcn i.u; iviay is.si.
Market steady.
CLOSE NEW ORLEANS FUTURES.
iMew Orleans, sept. 15. Cotton closed
steady
points.
at net declines of 40
to 4 7
Open
19.23
19.30
19.05
18.82
18.62
High
19.43
19.59
19.43
19.28
19.13
Low
19.00
19.19
19.00
18.73
Close
Oct. . . .
Dec. . . .
Jan. ...
19.15
19.33
19.16
19.00
March
May . . .
18.62
18.80
NEW
ORLEANS
SPOT
COTTON.
New Orleans, Sept. 15.
-Spot cotton
steady, 25 lower; sales
on the spot
2,088 bales; to arrive 350.
Low middling 17.50: middling-
19.50;
good middling 20.50.
Keeeipts 1,502; stock 398,194.
LIVERPOOL COTTON.
Liverpool, Sept. 15. Cotton: Soot
in good demand; prices easier; good
middling 14.29; fully middling 13.69;
middling 13.24; low middling 12.34:
good ordinary xl.zv; ordinary 10.54.
sates zu.uuu oaies, including 12.000
American. ko receipts.
Futures closed quiet and steadv:
septemDer la.zi; ucioDer 13. zi; Janu
ary 12.90; March 12.56; May 12.31; July
12. 00.
The cotton exenange win remain
open until 4:30 p. m. trom September
26 to October 6.
SUGAR.
New York, Sept. lo. The raw sugar
maret was quiet early today at 4.25
for centrifugal.
No changes occurred in refined
Refined futures were nominal.
i
SILVF.R.
New York, Sept. 15. Foreign
bar
silver 64 5-8.
Mexican dollars 49 3-4.
CHICAGO PROVISION'S.
Chicago, Sept. 15. Butter higher;
rreamerv extras stanaaros 01 1-1
firHtn 33 1-2 tO 4i; seconds 6V to 6Z.
TrclrS hicher: firsts 30 1-2 to 32 1-2.
Poultry; lower; fowls 19 to 27;
.springs 22 1-2.
Y 1 as the
1 1 conditions
I A privat
I I inaicatln
w " " m
cf Th New York: Gfche
r
Wall Street lf
I
L
New lork, bept. 15. Shorts were
active at the opening of today's stock
market, directing their efforts mainly
toward oils, equipments, motors and
coppers. Mexican Petroleum, Shell
Transport and Royal Dutch fell 1 to
1 1-2 points, riaiowin, Pullman, Har
vester and Studebaker averaged one
point declines. Anaconda. Utah and
American Smelting sustained fractional
losses with American Car and West-
inghouse Electric. Offsetting features
included United Drug, American Lin
seed, General Asphalt, Central Leather
and Sumatra Tobacco, these gaining
large tractions to z 1-2 points.
The closing was heavy. Sales ap
proximated 600,000 shares.
Call money easeu to 4 1-2 per cent at
midday but steels, American Locomo
tive, Mercantile preferred. United
Fruit and some of the investment
rails reflected further pressure. Bald
win extended its early rise, however,
and Pullman."" Sears-Roebuck and Su
gars strengthened. J
S'EW YORK STOCK
L.ast Sale.
Allis-Chalmers
American Beet Sugar . ,
LIST.
33 1-2
29 1-1
27 1-8
127
51
31
90
36 1-4
63 1-1
43
107 3-4
American
American
American
American
American
American
American
American
American
American
Can
Car & Foundry
Hide & Leather
pfd
Internationla
Locomotive
Smelting &
Sugar . .
Corp .
Ref.
Sumatra
T. & T.
Tobacco
"Woolen
Copper
Tobacco
Sec. . .
American
Anaconda
i o
38
So
27
88
38
54
112
28
47
56
26
33
24
24
73
61
8
126
Atchison
1-2
Atl.. Gulf & W. Indies
Baldwin Locomotive . .
3-4
1-
Baltimore & Onio
3-4
3-S
3-4
1-4
Bethlehem Steel "B" . .
Canadian Pacific
Central Leather
Chandler Motors
Chesapeake & Ohio . .
Chicago, Mil. Sr St. Paul
Chicago. It. I & Pac. . . .
1-2
3-4
Chino Copper . . . .
Colorado Fuel & Iron ..
Corn Products
Crucible Steel
1-2
1-2
Cuba Cane Sugar . .
1-2
3-S
Erie .
General Electric ..
General Motors
r-s
Goodrich Co
Great Northern pfd . .
:-.l 1-
Great Northern Ore ctfs
29
Illinois Central
1-i
Inspiration Copper . .
34
45
50
19
108
115
21
1 1
25
19
71
Int. Mer. Marine pfd . .
1-4
Internatiational Paper ..
Kennecott Copper .. ..
Louisville - Nashville
Maxwell Motors
7-8
3-4
Mexican Petroleum . . .
8
8
S
4
4
8
Miami Copper
Middle States Oil . .
Mid vale Steel
Missouri Pacific
New York Central
N. Y.. N. H. & Hartford
Norfolk & Western . .
Northern Pacific
14
96
7S
8
51
38
52
26
1 2
70
51
49
35
20
77
20
106
75
8t
36
23
69
8
120
16
5 3
48
49
77
49
44
24
i
35
38
5
3S
JOS
29
124
8
51
;-8
3-i
1-4
1-2
Invincible Oil
Oklahoma Jrod. & Ref.
Pan American Petroleum
1-
3-
Pennsylvania
People's Gas
Pittsburgh & Y. Ya.
Ray Consolidated Conner
3-4
Reading
3-S
Ken. Iron & Steel ....
5-8
Royal Dutch, N. Y. ..
3-S
3-4
Shell Trans & Trad ..
inclair Con. Oil
Southern Pacific
Southern Railway . .
1-4
1-4
7-8
Standard Oil- of N. ,T. . .
Studebaker Corporation .
Tennessee Copper . .
Texas Co
3--T
1-S
5-8
3-8
Texas & Pacific . .
Tobacco Products ..
1-4
Transcontinental Oil . .
Union Pacific
1-S
1-1
U. S. Food Products . .
U. S. Retail Stores . .
1-
V. S. Ind. Alcohol . .
IT. S. Rubber
U. S. Steel
3-8
7-8
Utah Copper
1-1-
Westinghouse Electric ..
Willvs Overland .. ..
Pure Oil
3-4.
1-8
Atlantic Coast Line . .
Coca Cola
Gulf States Steel
Seaboard Air Line
1-;
1-:
Sloss, Shef. Steel &
Iron
United Fruit
i -.
0--J
Virginia Caro. Chem.
American Tobacco . .
1-1
A merican Zinc . .
Gen. Asphalt,
Curb Market
Ry STUART P. WEST.
Staff Correspondent of The News.
Copyright, J 021. by News PnbliKhins Co.
New York, Sept. lo. There was an
other strong opening on the curb
market today, pool manipulators' and
protessional operators rushing prices
upward tjuite sharply. But when it
was demonstrated that these move
ments did not attract a public follow
ing a hurried attempt to take profits
was ilolowed by sharp reaction in
many of the leading issues. Business
was considerably below the average of
recent days.
Interest again centered in the low
priced oil shares. Southern Petroleum
and Refining, the latest addition to
the list, was in great demand and
touched a new high record. Erratic
price movements took place in Boone
Oil, with traders takirtg an active part
in this stock.
The so-called neian stocks were
the leaders of the miscellaneous group.
Tobacco Products was in exceptionally
good demand. United Retail Candy
and Philip-Morris were stea9v to firm.
Glen-Alden Coal had a good upturn,
Farrell Coal continued erratic, en
countering profit-taking on all the ad
varices. Peerless Motors continued to
attract attention, moving up nearl
two points with the buying on the
advance credited to Durant interests.
However, there was comparatively
heavy proht-taKing around the high
est. Durant Motors was in moderate
supply and v reacted. Small purchases
of Chicago & Eastern Illinois preferred
caused an advance ot about a point
in that stock.
Mining stocks were more active than
recently, but practically all the in
terest was in low priced shares, in
cluding Boston & Montana, Big Ledge
and Florence Goldfield, for which there
was a good demand, Alagna Copper was
easier.
There was a fair demand for bonds.
The tone was steady and prices gen
erally were fractionally higher.
SAVANNAH NAVAL STORES.
Savannah, Ga., Sept. 15. Turpentine
firm, 62 3-4; sales 147; receipts 336;
shipments 1,510; stock 9,654.
Rosin firm; sales idb; receipts !
shipments 1.369; stock 73,347.
uuote: B 4.oo; u n; 4.00 to 10; i
4.25 to 30; G 4.30 to 35; H 4.35 to 43;
I 4.50; K 4.65; M 4.65 to 70; N 4.70 to
75; WG 5.00 to 25; WW 5-50 to 75.
COTTONSEED Oil-
New York, Sept. 15. Cottonseed oil
closed steady. Prime summer yellow
9.85 bid; prime crude 8.00 bid. Sep
tember 9.90: October 9.92: November
9.62; December 9.52; January 9.50; Feb
ruary 9.53; March 9.66; April 9.70.
Total sales 15,o00.
LIBERTY BONDS.
York. Sept. 15. Liberty
3 l-2s, 88.08; first 4s,
4s, 88.2S; first 4 l-4s,
New
bonds
closed:
second
88.28;
88.42:
second
4 l-4s, 8S.44; third 4 l-4s.
92.42;
3-4s,
fourth 4 l-4s, 88.62; victory
99.04; victory 4 3-4s, 99.04.
CHICAGO POTATOES.
Chicago, Sept. 15. Potatoes
Total United States shipments
Idaho white 2.80 to 2.90 cwt
steady.
1,002
Red River Ohios 2.80 to 2.95 cwt
Wisconsin white 2.65 to 2.85 cwt.
ROOSEVELT AT CONVENTION
Sea Girt, N. J., Sept. 15. Theodore
Roosevelt, assistant Secretary of the
Navy, flew in an airplane from Wash
ington to Camp Edwards today in or
der to attend the state convention of
the American Legion at Asbury Park.
The trip was. made in. .two -hours and
ten minutes-
CURBj
BONDS !
STOCKS
"
Li ve Stock 1
f
J
CopyTigh. 1021, by News Publishing Co.
Union btock Yards. Chicago, Sept. lo.
On account of the comparatively large
supplies in all branches of the live stock
trade, sellers did not look for a good
demand early today, but they were agree-
fibly surprised. Plain cattle were a lit
tle slow, but hogs were strong after a
weak start, while lambs found a good
outlet. Calves went above $14 on a strong
market.
Receipts today were estimated at 12,000
cattle, 21,000 hogs, 20,000 sheep and lambs
and 3,00 calves.
CATTLE: Light steers and also the
best yearlings again had a good market
at fully steady values but other grades
were slow. Choice young stock was ciuot-
ed at $10.50 to $10.90 but no strictly
choice heavy steers were offered. Cows
and heifers sold .well at uncharged levels.
Bulls were strong with bolognas quoted
at $4.50 to $5 while the market for calves
was 25 cents higher. Packers paid as
high as $14 for choice vealers, with
small lots to outsiders at $11.25.
HOGS : Early hog trade was slow but
demand was better after the first rounds
and values were strong. Light hogs sold
at $S.60 for the top with few rough
hogs down to $6.25. Heavy butchers and
packing grades were strong compared
with the best time of the prv'ious ;-es-
sion.
SHEEP: Demand for lambs was ac
tive. Prices were fully steady tor i.n
grades. A shipper paid as high as $10.10
for a small lot of prime native lambs.
while best Avesterns were quoted at $10
to $10.25. Feeders and - aged muttons
sold at unchanged levels.
CHICAGO LIVESTOCK.
Chicago, Sept. 15.
CATTLE: Keeeipts 12,000; fat year
lings and best handyweight steers
steady to strong; others slow to
lower; early top yearlings 10.50; fat
medium weights 9.7o; bulk b.io to 9.oo;
better grades cows, heifers and canners
steady to 15 cents higher; bulk bolog
nas 4.45 to 4.8o; calves ruuy 'o
higher; bulk good and choice light and
handv vealers 13.50 to 14.00.
HOGS: Receipts 21,000; active, bet
ter grades steady to 10 higher; others
mostly 10 to 25 higher than yesterday's
average; top 8.60; bulk lights and
light butchers 8.10 to 8.50; bulk pack
ing sows 6.00 to 7.00; pigs mostly 50
cents higher; bulk better grades 7.25
to 7.75.
SHEEP: Receipts 20.000; all classes
opened mostly steady; small, lot prime
native lambs to shippers 10.10; packers
taking bulk around 9.o0; culls mostly
6.00 to 6.50; no early sales good
western lambs; fat ewes early mostly
4.00 to 4.50; feeder lambs late yester
day .o0.
L
Grain Market
Copyrisrht, 1021. hy News Publishing Co.
Chicago, Sept. la. Wheat market
today was weak in tone early but
m;;rket rallied later. The bull side of
the market has gone stale, was the
way one observed expressed it.There
as much news which tended to under
mine the morale ot bull.?. Tne slump
in cotton and the rains over Argen
tina were early factors while later the
reports of weak foreign exchange -itu-
ition and generally bearish advices
from seaboard exporters accelerated
thv liquidation by discouraged longs.
Theie was some buying on .he break
but it was mostly local in character.
Northwest houses continued to forward
bullish advices regarding the damage
to wheat in shock by recent wet
weather. Omaha reportc 1 sales of 50,
'00 bushels of wheat at 11 3-2 cents
i.j e'er Chicago December or one emt
better relatively than ya.-,ee.rday. Seat
tle reported sales of 150,000 bushels
of wheat for export. A bullisi cotton
report induced short eoverin? after
n.idday.
Corn was dull and followed the
trend of wheat. Selling of a round
lot of corn by a wire house credited
by some to a large local tradr and
by others to a leading edevator interest
wa sa feature. Offerings to arrive.
from the country were smaller because
of the decline. Domestic shipping de-
mr.nd was improved and exporters took
a small lot.
Oats followed the trend of other
grains. There was consmet able pres
sure early from commission houses
and local longs. Shorts covered later.
Cash oats were easier. Shipping oales
were larger.
Provisions were lower. Selling was
induced by the break in hogs.
Chicago, Sept. 15. Fresh declines in
the price of wheat resulted today from
rain in Argentina. Initial quotations
varied from unchanged figures to 1
3-4 cents lower.
Corn went lower with wheat, open
ing quarter to
shade advince.
3-8 cent off to
Oats started 1-8 to
Provisions had no
1-2 down,
aggressive
sup-
port.
The wheat market
closed unsettled,
net lower.
1 3-4 to 2 3-4 cents
CHICAGO
GRAIN AND
Sept. 15.
PROVISIONS.
Chicago,
Open
High Low Close
WHEAT-
Dec 1.30 1.31 V 1.28 1.28 V2
Mav 1.34 1.36 1.33 1.33
CORN
Dec 54 54y2 53 53
May 59 59 U" US1,; 58
OATS
Dec 39 z 39 Ts 39 39 V,
May 44 44ig 43 43Va
PORK
Sept 17.75
LARD
Oct 10.70 10.75 10.70 10.70
Jan 9.17 9.50 9.47 9.50
RIBS
Oct 7.62 7.62 7.60 7.60
Jan 8.00 8.10 8.00 8.05
CHICAGO CASH GRAIN
Chicago, Sept. 15. Cash: Wheat. No.
red 1.26 1-2 to 1.29
26 1-2 to 1.28.
1-4; No
hard
Corn. No. 2 mixed 54
3-4
to
5 5 ; No.
yellow 5o to 5n 1-4.
Oats, No,
2 white 38
35 1-4 to 36
2. 1.07 1-2.
to 59.
1-2
1-2.
to 39 1-2;
No. 3 white
Rye, No.
Barlev 55
Tlmothyseed
4.00 to
4.50.
Clover 12.00
to 18.00
Pork
Lard
Ribs
nominal.
10.62.
7.50 to 9.
NEGRO HANGED TODAY
FOR MURDER OF GIRL
Centerville, Ala., Sept. 15. Clyde
Thomas, negro, was hanged here today
for the murder of the 15-yea-old
daughter of a farmer of Bibb county
on August 9.
Thomas was brought here early this
morning on a special tram irom Bir
mingham under guard of Company I
infantry and the Birmingham machine
gun company, Alabama national
;uard.
A company of militia and two ma
chine gun detachments were constantly
on duty during the trial. At the con
elusion of the trial, the court ordered
the prisoner removed to Birmingham.
Thomas attacked the victim on a
lonely highway and left her body ?n
the woods by the roadside. " ,
CIVITANS TO HONOR
EXPOSITION WEEK
Friday will be "Made-in-Carolinas
Day" tor Charlotte Civitans. omctais
of the Exposition will be honor guests
at the weekly luncheon of the club in
the Chamber of Commerce assembly
room. An interesting program in their
honor and in hrnior of the undertaking
will be given under the direction Dr
Henry Benoit, chairman of the enter
tainment committee. Eight new mem
bers of the club will be officially wel
comed during the program. The at
tendance prize will be given by Civifan
Henry Theinng.
AEROPLANE WAS
TIED TO A TREE
Officers Serving Attach
ment Papers Would Not
Bring It In.
The first elaim and delivery warrant
ever served in Mecklenburg county
against an aeroplane was served by
Deputy Sheriff Mode Hunter of Sher
iff Cochran's office Wednesday after
noon in Myers Park. Sheriff Hunter,
accompanied by Rural Policeman C. G.
Brown, drove out to the Myers Park
flying field and there backed an aero
plane they found up against a tree and
tacked a notice on it containing the
regulation notice of attachment from
the sheriff's office. Before doing this
they tied the aeroplane to a large tree
with a trace chain and locked it.
When Sheriff Hunter was handed the
wa'rrant Wednesday afternoon he read
it hurriedly and was for some minutes
under the impression he was being dis
patched to attach an automobile, in
which, he said, if was his purpose to
find the automobile and drive it in to
be held under the sheriff's jurisdiction.
He went to W. L. Nicholson, receiver
for the H. L.. Morrow company, which
formerly owned the aeroplane and ask
ed where that automobile was. Mr.
Nicholson told him to read the attach
ment warrant again, that it was an
aeroplane and not an automobile he
was to attach.
PDEFERING HITCHING IT.
Rural Policeman Brown, who drove
Sheriff Hunter out to the flying field,
stated that if somebody would put some
gas in the plane's tank and crank it for
him once and instruct him howr to start
it he would bring over to the city
and land at some open spot about the
court house or elsewhere. Sheriff Hun
ter, however, was not enthusiastic
about flying for the first time with a
pilot like officer Brown, who got pep
pered with shot one afternoon recently
when he went to arrest an alleged
bootlegger out on the Salisbury road,
and let it be understood he would pre
fer to "hitch' the plane to a tree for
safe-keeping rather than risk flying to
town, good deputy sheriffs being scarce
anel at a premium just now, acording
to Mr. Hunter.
The 'plane is worth around $2,000, it
is said, and has been used by Robert
Herron and Mike Palm, two young
Charlotte aviators f6r flying over the
city and around this section of the
country recently. It is the same plane
in which Mr. Palm and C. W. P. Fisher
of Concord came in from Concord to
Charlotte recently and made a forced
ladino- at Chatham Estates because
their fuel gave out before they could
reach the Myers Park field. It is un
derstood title to the plane belongs to
Mr. Fisher at Concord and that Messrs.
Herron and Palm have had it leased
for some time. It was bought-by Mr.
Fisher from the H. L. Morrow company
originally.
BOY SCOUT DISTRICTS
IN CITY AGREED ON
Following instructions of national
headquarters to district all cities of
50,000 or more, deputy commissioners
of the local Boy Scout organization
decided upon the following commission
ers and districts at a meeting Wed
nesday afternoon:
William Hannon, Ward 1, North Try-
on street, to Seaboard station, East ave
nue to the creek, to Seaboard station.
E. R. Bucher, from creek up East
avenue to Church street, to Morehe.id
street, to the creek.
Morris E. Trotter. Elizabeth and My
ers Park sections.
R. E. Buck, all territory south of
Morehead street.
J. H. Bostick, west of Church street,
including Fourth Ward to Seaboird
Railway tracks.
The conference Wednesday afternoon
was directed by J. Frank Wilkes,
scout commissioner for Charlotte.
James E. Steere, scout executive, and
J. W. McClung, chairman of the com
mittee on organization.
Each deputy commissioner will su
pervise all scout activities in his par
ticular district. The organization com
mittee will work with the troop com
mittees of the various scout troops in
all districts.
NEW STREET LIGHTS
ORDERED PLACED
Public Safety Commissioner Huney
cutt has ordered the establishment ef
14 street corner lights in several sec
tions of the city in response to peti
tions filed with the board by property
owners. This order clears up all pe
titions for street lights which have
been filed, Mr. Huneycutt said.
The location of the new lights, which
will be placed within the next few days
by the Southern Public Utilities Com
pany, will be as follows:
Mint street and West Park avenue;
Seventh anel Lomar, Parkwood ml
Ellsworth avenues, Cecil avenue and
Park Drive, two lights on Park Df ve
near Independence Park, Irwin and
Forest streets, Park Court, Wads
worth avenue, Lamar avenue and East
Fifth street, Pecan avenue and Ninth
street, Seventeenth and Brevar:,
Eighteenth and McDowell streets, La
mar avenue and Bay street.
NO CORRESPONDING
ACTIVITY IN FREIGHT
London, Sept. 15 The London Tims
in its financial notes, says that, oi
though considerable buying of cotio'i
has lately been reported from 1I13
United States, there has been no cor
responding activity here in freights, aa
is usual at this time of the year, add
ing: "Before the war, the chartering of
British steamers for whole corgoes of
cotton would have proceeded daily at
London during September. This yea
there appears as yet no sign of such
business. The demand for tonnage tc
load cotton was one of. the factors to
which ship brokers- were accustomed to
look before the war for the usual Au
tumn revival in freight morkets."
The Times explains that to some ex
tent this absence of chartering is un
doubtedly accounted for by the load
ing at Gulf ports of many American
steamers for Europe with general car
goes. COW ACTED AS IF
SHE HAD RABIES
When a cow had "fits" Wednesday
afternoon the owner forthwith killed
her, cut off the head and . brought it
to the city health department for a
laboratory examination. Dr. E. M. Dun
can, city bacteriologist, will make the
test Thursday afternoon to determine
if the tow had rabies.
The name of the owner was not list
ed at the department but it was sa;rt
he lives in the city. He is fearful that
if the cow has rabies he has been in
fected. In attempting to relieve what
was at first thought pain he reached
his hand into the cow's throat and
attempted several methods to "quiet
her."
He reported to Dr. McPhaul, city
health officer, that the bovine acted iis
though she were mad. She butted at
trees, stumps, raced about the pastuie
and performed other stunts not in ac
cordance with the usual activities of a'
cow of normal temperament.
"RUM SPECIAL"
TAKEN IN TOW
Officers Nabbed Driver and
49 Quarts of Bottled in
Bond.
A new Ford touring car brought a
big shipment of bottled in bond whis
key into Charlotte Thursday morning.
Forty quarts of the shipment are now
in the locker of the police stattion. A
man, giving his name as J. T. Harri
son, of Columbia, is in jail.
The Ford was a "Whiskey Special,"
Deing riggea up especially tor trans
porting a cargo of spiritous goods with
out creating suspicion. Behind the back
cushions anJ beneath the rear seat
were big containers in which the bot
tles were packed, and so skillfully did
the transporters pack theeir cargd that
no one would have suspicioned that the
machine contained whiskey. .
The police would not even have
thought of such a possibility had not
Detective Earnhardt received a tip. He
was in the recorder's courtroom when
the little bird brought the message.
Detective Mack Riley and D. B. Brad
ley joined him in the station lobby
downstairs, and the three went to the
sales quarters of C. C. Coddington, Inc.,
on West Trade street.
In front of the building: stood the
new Ford and at the wheel sat the man
who gave his name as Harrison. An
other man was engaged In conversation
inside the Coddington building but,
when he saw the three detectives lift
up the rear seat, he cut short his con
versation and shoved through a door
leading into the rear of the building.
Workmen in the garage saw him dart
through the btck' door and make hi:?
escape through an alley-way,
LIQUOR CONSIGNED HERE.
The car bore a South Carolina li
cense, but beneath the front seat cush
ion the detectives found a Georgia and
a North Carolina license. They pre
sumed the machine came from Savan
nah. They learned one delivery was
made in Charlotte Thursday morning
and that the 40 quarts, which they con
fiscated, had been consigned to anoth
er Charlotte party.
The alleged bootleggers ought to re
ceive a medal insteael of a jail sen
tence, even the police consider. A med
al would be a deserving reward for
their ingenuity. The springs behind
the rear cushion had been removed,
and the upholstering was supported
only by a spread of iron. A space five
Inches in thickness, four feet wide" anel
about three feet deep, capable of hold
ing 50 quarts, was provided by remov
ing the springs. The rear seat had
been raised, affording additional room
beneath, where the tools usually are
kept, for storing perhaps 50 more
auarts. So skillfully had the work been
clone that only a minute inspection
would reveal that the tonneau of the
machine was not in accordance with
all Ford tonneaus.
The car is supposed by the police to
have left Savannah bearing a Georgia
license tag. When South Carolina was
reached a Palmetto state tag replaced
the Georgia license. The North Caro
lina tag had .not been placed on the
rear when officers made the arrest so
it was presumed the machine had
crossed the State line near Pineville
and the ocasion had not arisen for
changing tags again.
DISPATCH IS BOUGHT
BY JAMES CRUIKSHANK
Wilmington, Sept. 15. Negotiations
were concluded Tuesday afternoon by
which the stock and other interests ' f .
R. S. Carver and his family in Too
Dispatch-Publishing Company were tak
en over by James Cruikshank and Ma
jor Ewart W. Smith, M. C. Mr. Car
ver has resigned as president and
member of the board of directors and
is no longer connected with the busi
ness. Mr. Cruikshank is now general man
ager and editor of The Dispatch. H?
came to Wilmington in July, 1920, ami
purchased a half interest In The Dis
patch from Mr. Carver. By the change
in ownership Tuesday, he becomes the.
majority owner of the stock of the
company. He has had 14 years' expe
rience in newspaper ,work as owner,
and editor, having published two suc
cessful weeklies, and been managing
editor of four of the leading dally
newspapers of western Canada.
Major Smith, who is a brother-in-law
of Mr. Cruikshank, joined the staff of
The Dispatch in August, 1920, as j."-
I countant. He served for six years in
the British army, from 1914 to 192J,
and saw much service during the war,
where he was awarded the military
cross. He also fought in the South
African war which broke out shorri
after he left college. Prior to 1911.
Major Smith was in the employ of the
Saskatchewan (Canada) government
and served in a number of important
executive positions. He will continue
in charge of the business office, while
the news department will be In charge
of M. M. Capps, who has been for the
last year city editor of The Dispatch.
NO CONSIDERATION IS
TO BE GIVEN REQUEST
Columbia, S.. C, Sept. 15. Mrs. S- J.
Kirby's oral plea for executive clemency,
made to Governor Cooper Wednesday
afternoon, will not have official consid
eration from the Gorernor. It was
stated at the Governor's office Thurs
day that, unless a petition was filed with
the executive, no consideration could
be given to the plea for clemency.
Mrs. Kirby anel her eleven-year old
daughter called on the Governor and
asked that he change the sentence to
life imprisonment. Mrs. Kirby gave as
her reason that her husband had often
been subjected to temporary periods of
insanity.
It is also stated that relatives of
Gappins will make a similar plea to
the Governor.
Fox is resigned to his fate. His aged
father, who is here, states that his only
concern is the eternal welfare of his
son's soul. He has advised the boy to
try to get right with God.
TO LET CONTRACT
FOR SCHOOL FRIDAY
Contract for the erection of the Bel
mont vocational school will be award
ea oy me city scnooi Doara ioiiow.ng
the opening of bids from contractrs
at 1 'clock Friday. All bids must be
in by that hour. Trio board of city
commissioners recently sold $200,000 of
the school bond issue to cover the
cost of constructing . the building.
Work on the structure is expected to
be started soon after the contract has
been let. It will be ready for use by
the opening of next year's school term.
HOME BREW RECEIPTS
INTEREST CLERGYMEN
Washington, Sept. 15. Among more
than five thousand letters received re
cently seeking information as to per
mits for the making of "home maelo
wines" or non-intoxicating fruit juios
were those of at least a dozen clergy
men, the Internal Revenue Bureau
here announced today. The office force
has been swamped with correspon
dence since announcement was made
that heads of families may take two
hundred e-a lions of wine vearlv fcr
home use provided a permit is obtain
ed.