THE CHARLOTTE NEWS, CHARLOTTE, N. C, SUNDAY MORNING, SEPTEMBER 18, 1921
18
LIVESTOCK
COTTON
GRAIN-
ARKET QUOTATIONS; FINANCIAL NEW
THE MOST COMPLETE
EDITED BY STUART P WEST For
vvADTrw u A PTTHI Iflun-n rv THE IJAKUUINAiS.
15 Years f inancial Editor ol xno ew ii "'D'
CURB
BONDS
STOCKS
IMPROVEMENT IN
BUSINESS WORLD
Mercantile and Industrial
Situations Reported Bet
ter; Money Easier.
Written for The International New
Service.
New York, Sept 17. Slight improve
ment in the mercantile situation in
the industrial districts was reported
this week. Another hopeful sign was
the Increase in money for business
purposes. Trade is reviving in tiio
South and the agricultural communi
ties of the Middle West. Food prices
are again climbing especially, in the
eastern cities.
BANK CI.EARIXGS.
Total bank clearings of the eounlr.
during the past week were $6.S0r,44.'.
S77 against $5.004.0S4.660 last week ar.
8,932,S34,451 this week last year.
COMMERCIAL FAILURES.
Three hundred and thirty commer
cial failures were reported from all
parts of the country during last week
as against 290 the previous week.
MONEY.
Growing belief that the money mar
ket is entering a period of ease wan
increased by the course of rates' for
time loans. On Friday sixty-day loan
were made at 5 1-4 per cent, the
lowest this year. Demand loans were
made at 4 1-2 per cent, with first clas
stocks given as security. Thirty-six
corporations and railroads mailed divi
dend checks on one day this week. A
considerable number of new bonds
were absorbed bv American investors,
the chief issue "being $25,000,000, six
per cent bonds of the Canadian Na
tional Railways and the Grand Trunk
of Canada.
BUSINESS IMPROVEMENT.
The most optimistic forecast on busi
ness conditions made this year came
this week from President William B.
Joyce of the National Surety Company
.Based upon reports received from va
rious states Mr. Joyce said that condi
tions may reach normal by January.
He warned the United States, however,
not to expect any great prosperity
boom for at least two years.
COTTON.
A more cautious and conservative
feeling prevailed in cotton trading dur
ing the past six days and prices re
acted from the high levels of the pre
ceding week. New sensational reports
of crop damage by storms failed to up
.'iold prices.
The American Cotton Association in
a report this week predicted that the
crop might be as low as 6,500.000
bales, the smallest in 40 years. Tin
jump in prices resulted in a heavier
movement of the old crop into sight.
Total stocks of cotton now at the
United St.Ues ports are 1.310,000 bale-:
against 750,000 bales a vear ago.
STOCK MARKET.
The average price of 15 representa
tive industrial issues on last sale on
the New York stock exchange todav
was 67.33 against -37.53 yesterdav anil
67.40 last week. The average price of
15 representative railroad issues was
55.20 against 56.06 yesterday and 55.67
last year.
GRAIN.
Wheat exports fell off this week
and prices fluctuated. France will
have a crop of 350.000,000 bushels, the
biggest in six years and the' estimate
for Canada forecasts a record wheat
yield in that country of 294,3S7,ooo
bushels.
There is a heavy movement of wheat
eastward and during the latter half or
the week Duluth loaded out 1,250,000
bushels for shipment east. The corn
iikj.ijs.ci was unsettled, l nere was ;i
decrease of
visible supply
261,000
of corn.
bushels in the
GENERAL NOTES.
Among the foodstuffs which
ed in wholesale price in the
markets this week were chees-
eggs, live beef and flour,
of foodstuffs increased 4.3
August ever July.
A reduction of approximated S ner
cent in common labor wages was put
in effect toy the Bethlehem Steel Corporation,
lr.craas
eastern . apples.
The price
rer cent in
NEW YORK MONEY.
New York, Sept. 17. -Call money
ranged between : l-l' an 1 4 l-n per
cent on the stock exchange during the
past week.
Time money throughout the week
was at 5 1-2 and 6 per cent depending
on the collateral and tiie maturity oi
tne loan.
Mercantile paper rates ruled at 6
j , . 1 lJ1K oener Known names
iiu o -i per cent ror names not so
wen Known.
REGENT GARAGE GIVES
ALL-NIGHT SERVICE
Southern Stocks & Bonds
QUOTATIONS FURNISHED BY
American Trust Company, Charlotte, N. C,
A. M. Lw & Company, Spartanburg, S. C.
Hill, Clark & Company, Charlotte, N. C.
K. S. Dickson & Company, Gastonia, N. C. and Greenville, S.
This service, which is published every Sunday, is a co-operative ef
fort between The News and the dealers mentioned above to present a
consolidated list of quotations on various Southern securities. Thes
quotations are not guaranteed, but represent the latest available figures.
tvttt t- OTcicriwvr
STOCK MARKET l
Market Not Influenced by
Favorable Outside News ;
Setback Due.
COTTON MlkiZ.
STOCK.
Bid
SO
114
68
190
42
BOO
17
73
275
170
186
10
Abbeville Cotton Mills ....
Acme Spinning Co
Aileen Mills, Inc
American Spinning co. ..
American arn He froc. L-O.
Vnderson Cototn Mills . . . .
rasron Cotton Mills .. ..
Arcade Cotton Mils
Arcadia Mills 200
Arkwright Mills 200
Arlington Cotton Mills
Vrrow Mills, inc
Augusta Factory, Ga
Avondale Mills, Ala
ranner Mills .
lton Mills
r.lue r.uckle. pfd (per 100)
Brogan Mfg. Co
Hrown Mtg. Co
Cabarrus Cotton Mills ....
Calhoun Mills
annon Mfg. Co
Chadwick-Hoskins Co. (par
value ($25)
t'hadwick-lloskins Co. 8 per
cent pfd
hesriee Mills
hkiuola Mfg. Co
Chiquola pfd
Clara Mfg Co
ift'side
Clifton Mfg Co
limax Spinning Co
Clinchfield Mfg. Co
Clinton Cotton Mills
Columbus Mfg. Co
onsolirtated Textile Corp.
Converse 1). h.. Co
Crescent Spinning Co
Ltacotah (.'ototn Mills ....
Dixon Mills, Inc
Drayton Mills
Mills
Mills, pfd
Hosiery Mills, B-.
Hosierv Mills, pfd
Mfg Co
Mtg. Co
I Hinean
Punean
Durham
Durham
Eastern
Kastside
Efird Mfg. Co
Enterprise. Mfg. Co. . .
Erwin Cotton Mills . .
Erwin Cotton Mills, pfd
Flint Mfg. Co
Florence Mills
Gaitnc-v Mfg. Co
Gibson Mfg. Co
Glenwood Cotton Mills .
Globe Yarn Mill ....
Gluck Mill
Grace Mfg. Co
Gray Mfg. Co
Greenwood Cotton Mills
Grtndel Mills
Grier Cotton Mills
Hamrick Mills
Hants Knitting Co. A ..
Hanes Knitting Co. B. . ,
Hanes pfd
Hartsville Mill ,
Henrietta Mills
Highland Park Mfg. Co.
Imperial Yarn Mills .
Jennings Cotton Mill .
Judson Mills
Judson, pfd
Lancaster Cotton Mills
Laurens Cotton Mills .
Limestone Mill
130
72
110
500
130
122
200
14
83
400
100
45
82
SO
20
80
95
35
114
85
99
70
175
110
63
96
150
100
i46
1
12
97
305
210
245
89
175&,
95
145
Locke Cotton Mills. 105 ...
Ask Lola Mfg. Co 100
105 Majestic Mfg. Co 125 150
Marlboro Cotton Mills .... 72 76
55 Marion Mfg. Co 125 151
300 Mills Mill 250
120 Mollohon Mfg. Co 161
72 Monarch Mills, S. C 105
215 Myers Mills 81
115 Myrtle Mills 105 130
... National Yarn Mills 125 ...
Newberry Cotton Mills .. 115 140
275 Xorcott Mills 250 300
150 Norris Cotton Mills 190
50 Oconee Mills 200
Orr Cotton Mills 114 120
100 O.seeola Mills 225
95 Facolet Mfg. Co 145 160
Panola Cotton Mills 85
Parkdale Mills 115 140
Patterson Xvlfg. Co 185 ...
Pelham Mills 90
195 pelzer Mfg. Co 115 125
Piedmont Mfg Co 125
Poe, F. W. Co HO
12 Poinsett Mills 95
Ranlo Mfg. Co 105 115
100 Rex Spinning Co 86
22 Hex Spinning Co. pfd 89 92
190 Rhyne-Anderson Mills Co 100
Rhyne-Houser Mfg Co. . . 69
Ridge Mills Inc 74 80
... Riverside Mills ($12.50) .. 8 ...
lbi Konda Cotton Mills 110
Rocky Face Spinning Co SO
2o" Rowan Cotton Mills .... 81 Sti
Saxon Mills 100
17 Seminole Cotton Mills . . . . 105 110
55 Sibley Mfg. Co 49 54
Spartan Mills 112 120
.J Sterling Spinning Co 83 86
4j0 Superior Yarn Mills .... 85 100
; To away Mills (par $25) 30 32
Tucapau Mills 220
Union-Buffalo Mills Co 25
? Union-Buffalo Mills 1st pfd 72 80
b- Union-Buffalo. Mills 2nd pfd ,37 39
A- Victor-Monoghan Mills 94 95
Vtctor-Monaghan. pfd . . . . 96 100
Victory Yarn Mills 75 85
as Ware Shoals Mfg. Co 145, 171
9H2 "Watts Miil ... HO
?A? Watts Mill. 1st pfd 82
Xi Watts Mill, 2nd pfd 95
in Winget Mills Co 74 85
70 Wiscassett Mills Co 225
Woodside Cotton Mills 99 105
jij Woodside Cotton Mills 72 73
85
300
MO
97
165
13
13
100
350
660
176
225.
265
225
105
150
OTHER QUOTATIONS
North Carolina State 4r . . 80
North Carolina R. It. stocK . . .
Carolina Power & Light.
R. J. Reynolds Tob. A .
K. J- Reynolds Tob. B. . . .
R. J. Reynolds Tob, pfd.
Anderson Motor, pfd . . .
Anderson Motor, common.
Coca-Cola
2a
70
35
99
3
1
34
83
130
28
80
37
101
4
35
CHABtOTTE BANK
American Trust Co.
Charlotte National Bank.
Commercial National . . .
First" National
Independence Trust Co. . . .
Merchants & Farmers . . .
Security Savings Bank. . .
Charlotte Morris Plan . . .
STOCKS
. 200
. 199
, .230
. 175
. 300
. 100
135
185
10c
108
Financial Outlook
1
ine Jtiegent Garage has inaugurated
an au-ingm service, especially to meet
the demand of motor truck users- for
an opportunity to have their trucks re
paired while they are not needed fcr
hauling, it was announced yesterday
by w . A. r arr, proprietor of this
garage. He added that this night ser
vice also would include service for mo
tor cars in emergency cases. Tne
garage maintains a service car, and is
prepared at all times vo tow or haul
a car into the shop for repairs. Mr.
Farr says the volume of repair work
coming into his shop continues saiis
.factoy. "In fact," he added, "we have
not noticed the effects of the so-called
'hard times to any great extent and
always find that we have something to
do."
By STUART P. 'WEST.
Staff Correspondent of The News.
Copyright, 1921. by News Publishing Co.
New York, Sept. 17. The most sig
nificant happening in the past week
has bwen the revelation in certain
branches of the steel trade that, not
only had the surplus supply in the
hands of consumers got down low,
but that it had been reduced to ab
normally, small dimensions. The
trouble with the steel industry ha.s
mainly been a state of over-production.
Last year's slump caught steel
buvers with an unusually heavy stock,
und, when business in their own lines
fell off, this stock became a large
surplus which had to be used up
before there was any need of new
buying from the steel mills.
It was evident that the turn would
come when this overhanging supply
was exhausted, and, while wire and
sheet steel are not the whole steel
trade by any means, the fact that
buyers have been coming into the
market in these two departments, to
replenish their stocks, and that prices
already have had a very sharp re
bound, removes all doubt that the steel
situation as a whole is on the mend.
cites can eret their stocks carried at
rive and three-auarters or six per cent
for long pariods. while the same stocks
are returning their holders seven.
eight and ten per cent. This is
profitable business, where there it-
assurance that earnings have turned
anil dividends are. safe. There is no
hurrv about selling, nad the experi
encod pool managers are not at all
concerned, because at the moment they
are not getting an outside followin
r
EVERYTHING
In High Quality
Building Materials
TTT "THERE was an old
J woman, she lived in
Jla shoe; she had so
many children she didn't
know what to do."
What she should have
done was to have built a
home for herself and
her children and that's
what you should do.
CITIZENS
Lumber Company
South i Boulevard
Phones 3472-3473
TEXTII.K MILLS RUSHED.
As the business outlook has shown
all along, no sudden and general
change tor the better was to be
expected. Those industries like the
textiles, which completed their read
justment of prices and production
ahead of the rest, were naturally the
pioneers in the recovery, and we now
find the woolen mills actually turning
down orders, because they have a ca
pacity business, while the cotton mills
are similarly rushed with work.
con
had ago.
that
STEEL CONVALESCING..
To be able to add steel to the
valescent list as soon as this,
not been looked for two months
It was not believed at that time
there would be much recovery before
the new year. Now the prospect is,
not for any quick revival, but for a
steady increase in output and a slowly
rising price level. The steel corpora
tion is operating at 33 per cent ca
pacity on the average as against 30
per cent a month ago. This may well
be a measure of the pace which
recovery will assume in other months.
NEW ISSUES .IN DEMAND.
In no week so far has there been
so much striking testimony to the
urgency of the demand for high-grade
investment securities, both old and
new. The syndicate bringing ou
the 825,000,000 of new Canadian Na
tional Railways bonds was the tir,
to make capital out 01 the rise m
the market by reducing the interest
yield to borrowers. The result was
that a railroad security, offered for
tiie first time on a six and a half
per cent basis, was over-subscribtd
immediately the books were opened
In the same way subscriptions to the
new treasury three-year certificates
amounted to $1,400,000,000, against th
total offered of $600,000,000, and the
notes have now advanced to a sub
stantial premium. These proofs of
tne rapacity of the investment demand
come logically a time when lender
are pressing their funds upon the
market at the lowest rates of the year
SPECULATION SI,OWED UPt
The speculative markets have been
slowing up continuously all week. Cot
ton has corn's off some three cents
in the pound from top prices a per
fectly natural reaction ofter a rise
which carried the staple up over ten
cents. It does not mean that the
statistical condition has changed or
that there is any reason to abandon
the hopeful feeling inspired by the
upward movement which began toward
the close of August and continued
during the first ten days in Septem
ber. The cotton market could not
have kept on with its wild upward
climb without danger of checking the
spinners' demand. It was this threat
which finally halted the advance.
EXPORTS ON THE INCREASE.
The August statement of the foreign
trade, with its $74,000,000 increase in
exports over the previous month, indi
cated that in this direction, too, Julv
saw the bottom of the slump. With
all that has been said about the
slender buying power of the foreign
maricet, ana tne necessity or this su
uation changing before there can be
. c . .
ii-.iiu ol a recovery at nome, it is
interesting to note that even at the
worst mat is, in July exports were
twice as large as they were at the
corresponding period just before the
war. The total 'export movement for
July, 1921, was ?320,708,000; for June,
lau, tne total was only ?157,119,00.
Features
By STUART P. WEST
Staff Correspondent of The Nevra.
Copyright, 1021, by News Publishing co.
1 COTTON MARKET
ON DOWN GRADE
1
By STUART P. WEST.
Staff Correspondent of The New.
Copyright, 1021. by New PnbllshlnE Co.
New York, Sept. 17. The one im
portant incident in this morning s
news was the announcement by ttie
Guaranty Trust Company acc.ompany-
ng reduction of the dividend on us
stock, that all losses incurred in last
year's collapse in the Central and
South American trade had either been
written off or amply provided for.
This, with a statement that surplus
on September 6 stood at $io,uuu,uuu
with undivided profits of over $1,000,
000 was entirely convincing that what
ever the deduction for losses had been
the present position is altogether satisfactory.
The stock market was, however,
more immediately interested in its own
nside position than in any outside
news. The week-end trade reviews
ere favorable, telling of further prog
ress toward better things in tne gen
eral industrial situation. But this was
gnored as an influence for the day
at least. So was the further recovery
in the foreign exchanges, which ex
tended again to German marks. The
trading element was simply figuring
that the market, despite the outsiae
improvement had had a sufficiently ex
tensive rrse to warrant some sort of
setback. Operations for the decline
were helped by the. cut announced yes
terday in gasoline prices and by the
xtreme weakness in United States
Food Products stock, which raised the
ouestion as to whether the company
had been able to secure a iurtner
extension of its $4,500,000 loan.
Oil and related shares, especlally
Mexican Petroleum and General As
phalt sold down sharply, and other
speculative leaders wers offered down
half a point to a point. But there
was no serious weakness.
The final trading was dull and the
close fairly steady, with small net
losses as a rule, on the day. Ger
man marks left off over 10 point,
ibove their recent low at 1.01 cents.
FOOD PRODUCTS.
When United Food Products in tne
last half hour broke through its .for
mer low of 15, it was quite evident
that something was wrong. The rea
son for the sudden bidding up 01 in
dustrial Alcohol was also made appar
ent. It was an attempt to get a
better market on which to sell united
Food, by creating a diversion in a
stock which often in the past has
moved sympathetically. On March li,
it was announced that $1,500,000 of the
bank loans of $6,000,000 outstanding
at the first of the year had been paid
off, and the remainder extended for
three months. On June 14, a second
three months' .extension was obtained.
This latter period of grace has now
expired, and the story going around to-
oay was that trouble had arisen over
the iurtner extension 01 tne loans, it
was the unfortunate investment or the
wonderful whiskey profits in th. sugar
products company whicn did the dam
age in the Food Products stock. Tiie
company has also been hard hit, howev
er, by the decline in the price o
Industrial Alcohol from around $1.15
a gallon to under 30 cents. At tne
latter figure it is doubtful if busi
ness could have been taken except
at a loss. The fact that there has
been no improvement in the sugar out
look and very little, if any. in the
alcohol outlook, has, of course, made
the financial problem of the company
more difficult.
VETS THINKING U
OF BIG REUNION
to
Adjutant Duckworth Sends
Call to Know Who is Go
ing to Chattanooga.
barely
points
about
night's
NEW YORK STOCK
Lnt Sale.
Vllis-Chalmers
American Beet Sugar .. .
LIST.
American
American
American
American
American
American
American
American
American
American
American
Anaconda
Atchison
Atl., Gulf & W. Indies
Baldwin Locomotive
Baltimore & Ohio . .
Bethlehem Steel "B"
Canadian Pacific .. .. .. 112
Can
Car & Foundry . .
Hide fc Leather pfd
International Corp..
Locomotive
Smelting & Ref. ..
Sugar
Sumatra
T. & T.
Tobacco
Woolen
Copper
Tobacco
Sec."
S4
29
27
127
51
31
90
36
63
43
108
74
. 38
85
28
89
38
54
1-4
1-8
1-:
1-:
3-S
1-
6-6
5-8
1 -0
ctfs
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
General Electric
General Motors
Goodrich Co.
Great Northern pfd
Great Northern Ore
Illinois Central ....
Inspiration Copper ....
Int. Mer. Marine pfd ....
International Paper ....
Kenneeott Copper . .
Louisville & Nashville
Maxwell Motors
Mexican Petroleum . .
Miami Copper
Middle States Oil . .
Midvale Steel
Missouri Pacific
New York Central . .
N. Y., N. H. & Hartford
Norfolk & Western . .
Northern Pacific
Invincible Oil
Oklahoma Prod,
Pan American
Pennsylvania .
People's Gas .
Pittsburg & W.
& Ref. ..
Petroleum
Va
Ray Consolidated Copper . .
Reading . . . ." 71
2S
46
55
25
33
23
25
74
62
8
13
126
10
31
76
28
95
34
45
49
19
108
113
21
12
26
19
71
14
95
77
S
1
51
38
53
26
1 9
3-4
1-2
3-4
1-:
1-2
3-4
1-2
3-4
1-2
1-2
3-8
3-4
5-8
1-4
3-8
1-2
3-4
TRADERS RAID MARKET.
Yesterday's session had ended with
honors slightly in favor of the bulls.
ihere was still a numerous body
however, which maintained that the
pools had reached their limit for the
time being and that the market o tne
long side had slowed up and was
roing stale. Conseauently with the
short interest greatly reduced the
reasoning was that a moderate re
newal of bear operations should prove
profitable, lo offset the good news oi
the Guaranty Trust Company settle
ment there was the urgly break in
United States Food Products shares
and this emboldened the trading ele
ment to attack some of the highly
speculative issues like Mexican Fe
troleum and Tobacco Products. ies
terday s reduction in the price ot
gasoline favored the selling movement.
such as it was, in the oils. But
while leaders like Baldwin Locomo
tive. Bethlehem Steel and American
Woolen were driven down a bit. and
the promising movement in steel com
mon brought to a halt, real stocks
were not for sale in quantify. Firm
ness in the coppers was steadying
influence. The new North American
stocks attracted attention by makin
high records.
Closing Was at Lowest
Prices of the Day, 6) to
49 Points Down.
By STUART P. WEST
Staff Correspondent of The New.
Copyright, l21, by News i'iinnsninB
New York,' Sept. 17. The selling
movement kept on in cotton opu"
this morning and persisted right up to
the close. . Final prices were practi
cally the lowest of the day, and the
net loss from last night ran irom
30 to 49 points. The market opened
steady at a decline of 2 to -J-with
the active months selling
25 to 30 points below last
closing figures before tne enn.
of the first hour. Tnis carrieu i"--back
to within a few points of the
lowest levels touched since tne publi
cation of the end-August crop figures,
with December showing a decline of
about 320 points from the recent high
records. The buying on the Incline
included considerable activity on the
brokers with Liverpool and
connections and tnere w&
some buying oy irai s- i.oo,
houses with southern connections were
most generally sellers.
It was nuite evident from the action
. , 1 t 4.l.n4- haQricn nr
on yesterdays nmi-KBi mo...
reactionary sentiment was s"a
round on a be net mat tne a.uvnv.c
in prices nau i-iiccmj
for goods, that spinners would not
buy spots freely until they were as
sured of a profitable outlet for their
products and that some spot noiuei
were becoming a nuic cm-iwuu
more willing to sen owing lu 0.;-
hensions of further
feeling was reflected
dation, local and
morning, but
of covering
Adjutant II
lenburg Camp
has issued a call
of veterans
D. Duckworth, of Iec,.
of Confederate f.r'
for all veterans
who
anri
sons or veterans wnu uumempi ue at
tending the vetran's; reunion j;, chal
tanooga, October 25. -26 and 27 to notfc
fy him at once in order that arntn?e.
ments for railway tickets may !.. m;u
All Southern railroads will transport"
m 1? a
veterans ana sons 01 veterans r.
from the convention city al the
of one-cent a mile. In order that
ga'tes may procure these rates,
necessary mat vominariaer JJu
be notified of plans for atten-hn
once, he explained. His call v.-.,,,
part:
"Please report or send in r,; hk
early as possible in order to
s ufficient of inairication certu
1 iini
:' tc
it is
part of
Japanese
as 1
procure
lutes a?
ctrtf;.
ab!
ctn: ;
south,
CONSOLIDATED DISTRIBUTORS.
Fresh selling came into Consolidated
Distributors, which pushed the stock
below one dollar. This company, which
was formerly the Times Square Auto,
was put in the hands of a receiver
this week. -It showed assets consid
erably above liabilities. The stock
caused quite a flurry about two months
ago, when it moved steadil' forward
to around 8 and at that time it was
said that business was satisfactory
and the company in good condition. It
is now believed that the stock was
moved upward to allow someone to
unload. The selling today, even under
one dollar, was quite heavy.
reactions. lhi
ia further liqui-
southern selling this
there was a good deal
for over the week-end ana
some tresn buying, so uwi , .
not badlv divided, witn tne ma.rK.ei
showing nervousness and irregularis .
On the rallies offerings increased and
the tendency of prices was lower.
A telegram received nere iroin
that the shortage or tne crop seemeu
to have been forgotten yesterday anu
that holders of spot cotton were trying
to get rid of it. This movement, tne
report said would be over within the
ne'xt three weeks, but in the meantime
holders were-fearful of a further de
cline. Other reports from the boutn
claimed continued firmness, but there
was more Southern selling here tnis
morning, presumably as a neaging
proposition. The amount or cotton op
shipboard awaiting clearance at the
end of the week was na.uuu Daies,
against 56.000 last year.
Receipts
Opened
Noon . . .
CHARLOTTE COTTON.
today
.90 bales
....19c
19
CLOSE NEW YORK FUTURES.
New York, Sept. 17. The cotton mar
ket closed easy.
the railroad officials require th
cates in order that they may i,
to obtan the reduces rates of on
-it : 1 ,1 : -.
per mile on an i-iuuua.ua m me
The entertainment committee of ;
erans at Chattanooga are very np.xlo;.,
to get as early as possible the mi:ni,( J
that is coming so tney can main- am;,;,
provision for all who attend the r-un:,::
I will be at the army at city han :t
information."
A letter received by Mr. Duckcmvor.
from Chattanooga stated that those i-
o.haree of arrangements tnere lor ;h
reunion are "anxious to nave tne larg
est gathering of Confederate veterans
sons of Conefederate veterans and their 1
friends for this occasion that has ever f
attended any reunion in its history. Crj-1
tanooga is making every effort to mat i
this year's undertaking the greatest of I"
any reunion-" The letter continues m I
follows in part:
':Our entertainment committee is plan f
ning the largest and best program that f
has ever before been attempted at ar,v ?
of the Confederate veterans' runioss. I
We are going to make this run: r- J
the old soldiers one that they ti i
never forget. On account of the sh-
ness of time it is going to be impossible
us to maintain a free rru-ss ; 2 ;
but our committee is going to prepare I
to take care of ali of the old .-0. ....... '
who are not able to pay their way a .
the private homes of Chattanooga v, !;. I .
they will be the guests of Chattanooga -citizens.
It will help us if you v.::
get the word out to the soldiers who arr.
doming that are able to pay that wear
going to get them accommodations a:--'
the most reasonable rates that ha;
ever . been secured in any con vernier,
city."
Adjutant Duckworth is hoping tha-,
Mecklenburg camp will send a bic; dele
gat ion. The convention nas been
chief subject of conversations abou;
armory for several days, and it i
lieved many local vets will atu
High
IS. 55
18.95
18.75
id. I!)
Grain Market
1-1
7-1-
5-S
1-1
1-4
Oct.,
Dec
Jan
March
May 18.65
SEW YOHK SPOT tUTl'Ofl-
iNew York, Sept. 17. Cotton:
quiet; middling 18.60.
Low
18.10
18.50
18.37
18.35
18.18
Close
18.10
18.50
18.40
18.35
1S.18
Spot
1 th-'
s bt
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. Retail Stores
U. S. Ind. Alcohol .. ..
U. S. Rubber , . . . . 49
U. S. Steel 78
Utah Copper 50
vvestinghouse 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' 125
American Zinc 18
Gen. Asphalt -50
52
49
35
19
77
20
107
76
8
35
22
67
8
120
12
53
48
44
6
24
86
35
39
5
39
109
29
1-:
1-2
7-S
3-S
7-S
l-l
7-8
1-8
7-8
1-2
1-
1-4
1-2
7-8
3-4
1-8
1-!
3-4
1-2
1-2
1-1
1-8
7-S
3-4
3--
3-4
1-2
1-4
1-8
3-8
L
Bond Market
1
STOCKS IN STRONG HANDS.
The stock market also, having had
nearly three weeks of uninterrupted
advance, in the course of which prices
rose five, ten and fifteen points, ho
been settling down for a period of
comparative quiet, and probably of
smaller fluctuations. This implios, in
the language of the street, that th
market has done about all the "dis
counting of better business conditions
that it feels warranted in doing for
the present, and will be satisfied to
consolidate the ground gained and wait
awhile, to see how the general
situation unfolds. There is evry
evidence, however, that stocks are
once more in strong hands. The out
side public always misses tho first
twenty points of a recovery, and It is
not surprising that it has don so
this time, and is reluctant to coma
into the market at the higher levela.
MONEY SUPPLY EASIER.
The essential thing about tho specu
lative position is that for the first
time in years, the time money supply
has loosened, so that pools and ayndi
Curb Market 1
By STUART P. .WEST.
Stan" Correnpondent of The Nem,
Copyright. 1921, by News Publishing Co.
New York, Sept. 17, One of the
greatest breaks in the history of the
new curb exchange took place today
when moderate selling orders in Com
lnpnwealth Finance, common and pre
ferred, found no bids in the market
and transactions could only be made
at materially lower levels. Declines
of six to ten points took jlace be
tween transactions, and at one time
there was a spread of 45 points be
tween the bid and asked quotations
for the preferred stock. The president
of the company in a statement said
it was in perfectly sound condition,
with average net earnings so far this
year at the rate of $1,300,000 per
annum, and that the break in th stock
looked like an attack by traders.
The decline was entirely unexpected
on the floor and naturally caused un
easiness all around the room. How
ever, inside supporting orders were in
evidence in the other issues, so thnt
the- losses elsewhere were confined
within small fractional limits. There
were some fairly steady stocks, in
cluding Farrell Coal, McAhdrews and
Forbes, R. J. Reynolds and Glen Alden
Coal, in which the supply was limited.
An easier tendency prevailed in the
oil group but the losses were confined
to fractional limits. ' c
The mining department was an out
standing feature of firmness. Good
buying was noted in several issues
with Boston & Montana the active
and strong feature, scoring an advanc
of several points on buying credit
to Boston houses. credited
Ktnas were, rairly active
STide changes were small.
and steady.
By STUART r. WEST
Staff Coresnondent of The Netva.
Copyright, 1921, by Sews Publishing' Co.
New York, Sept. 17. There was not
much change in bond prices today
If anything the market was somewhat
lower. Liberty bonds, especially the
second 4 l-4s, lost some of yesterday's
advance. In the foreign government
section. Swiss. 8s. which had come down
a point on the previous day, from 107
1-2 to 106 1-2. fWiled to rally, but City
of Zurich 8s wfcre strong, up from
101 1-4 to 102. Japanese 4 1-23 were
a trifle higher ' and Mexican' 5s were
still in demand, retting across 53.
One of the features was a sharp
rise in Third Avenue adjustment 5s
on unusually larsre transactions. These
bonds started yesterday morning at
37 1-2, closed at 38 1-8 and moved up
today to 39 5-8. While Third Avenue
earnings are not vet sufficient to cover
interest on these bonds, the deficiency
Is no longer so trreat but what it
may readily be made up under the
lowered wage scale recent put into
effect, and the reduction in the price
of fuel. Neither Interborough 5s nor
the Brooklyn Rapid Transit 7s were
affected by this morning's story that
the state commission would bring in
a plan of capital readjustment for the
traction properties which would be
placed upon their actual valuation.
The idea is that at present prices
for these bonds they rest on real
values and would therefore not be
harmed by any such overhauling of
capital account.
- Midvale 5s attracted some attention
by advancing from 77 to 77 1-2. West
ern Union 6 l-2s were still in de
me.na at their high of 101. There was
active trading in the new Canadian
National 6s at and slightly above the
subscription figure.
Copyright, 1921, by News Publishing Co.
Chicago, Sept. 17. Wheat was weak
today. There seemed to be little
buying in evidence other than profit
taking by shorts. Some of the big
commission nouses in the trade were
on tne selling side and this pressure
was believed to be for t'.te account of a
leading elevator interest. There were
mf.ny of the locals who were inclined
to play for a rally owing to the buy
ing or uecemoer at ii.zs and ?l.l'S on
resting orders but on any little rally
commission house offerings were free.
the late weakness was due to the un
loading by local longs. Eastern long;
fire sua to De Deeommg restless over
the action of the market. Cash wheat
premiums nrm. export business was
at a standstill but a little Canadian
flour was worked overnight to New
York at $8.25 duty paid, or equal to
price ot American springs. Receipts are
reflecting tne effects of the wet weath
er but the movement continues of erood
voiujne. exporters at Kansas City re
ported some business working. Ship
ping sales were 5,000 bushels. Market
closed S to 3 3-4 cents lower: Septem
ber $1.23 1-2; December $1.26 to $1.25
Aiay si.ziJ 1-2 to 1-4.
Corn was weaker. A leading ele
vator Interset sold. Locals tried to bull
the market without success. Receipts
are heavy: indicating that the country
is consigning corn freely althougn
they are offering little to arrive. Cash
basis was 1-4 cent lower with indus
tries the principal buyers. Shippin
demand was slow with sales of onlv
aa.uoo busneis reported. vessel room
was chartered for 300,000 bushels of
corn at 2 1-4 cents to Buffalo. Market
closed 1 to 1 1-8 cents off; September
tz 1-4; l'ecember tz 1-2 to 3-8 to 1-2
May 57 3-8 to 1-2.
Oats were lower with other grains.
Some buying of December and selline
of May at 4 1-8 cents difference bv a
snipper was a feature. Leading eleva
tor interest was credited with selling:.
casn basis was easier. Shipping sale;
were 2o,000 bushels. Vessel room for
600,000 bushels of oats was chartered
at two cents to Buffalo. Market closed
7-8 to l 1-8 cents lower; September
36 1-4; December 38 3-8 to 1-2; May
1Z 1-2 IO D-8.
Packers bought provisions and this
lent a firmer tone to the market.
Pork closed 55 cents up; lard 2 1-2
to 10 cents higher; and ribs 10 to 35
cents higher.
CLOSE NEW ORLHANS FUTURES.
New York, Sept. 17. The cotton
market closed steady at a net decline
of 42 to 54 points.
High Low Close
Oct 18.35 17.90 17.00
Dec 18.53 18.10 18.10
Jan. 18.40 18.02 18.03
March 18.28 17.!0 17.93
May 18.17 17.81 17.82
NEW ORLEAIVS SPOT COTTON.
New Orleans, Sept. 17. Cotton spot
quiet; 50 lower; sales on the spot
1,538 bales; to arrive 400 bales.
Low middling 16.50; middling 18.50;
jood middling 19.50.
GASTON BOYS TO
GO TOBIG FAIR
Will Give Demonstration in
Seed Corn Selection
State Fair.
at
CHICAGO GRAIN AND PROVISIONS.
Chicago, Sept. 17.
Open High Low Close
WHEAT
Dee. . . .
May . . "
CORN
Dec. . .
May . . .
OATS
Dec. . . .
May . .
PORK
Lard
Sept
LARD
Oct ..
Jan. . .
RIBS
Oct. . .
Jan.
128
.132
. 53
582
39
. 43 fc
129 y4
133
125
1294
IOC
129 M
9.60
.7.75
53 52 52
58 y2 57 57
39 38 38
43 42 42
18.45
11.02 10.95 10.97
9.67 9.60 9.62
' 8.00 7.75 7.92
8.25
Live Stock
Copyright, 1921, by News Publishing Co.
Union Stock Yards, Chicago, Sept.
17. Small supplies arrived in all
branches of the livestock trade today
and the market was about like the
usual Saturday affair, without much
demand and little good stuff in the
pens. In the cattle alleys the market
was uneven during the week. Choice
light steers and also the best year
lings were 25 to 50 cents hierher at
the close compared with a week ago Iboys
out many or tne medium and n a n
quality heavy steers were down 25'
cents for the period. Hogs closed
above the week's low - spot while
lambs showed a good gain.
Receipts of livestock at the locl
yards today were estimated at 500
cattle, 3,500 hogs, 2,500 sheep and 300
calves.
CATTLE: No choice steers were on
scJe today. Small lots of mediu
went over at unchanged levels but
the trade was of little account. Year
lings made $10.90 this week, or a
nickel above last week's top. The
supply of range cattle fell short, rmiv
about 7,000 being received. nsrninsV
more than 12,000 last year and 19,000
in 1919. Some good steers sold as
high as $7.75 during the week. Na
tive cows and heifers of good quality
closed 25 cents higher for the week
Best veal calves gained about $1. while
bologna bulls were 50 cents hiirher at
the close.
HOGS: Hog trade was stonAv tn
strong. Heavy grades again were in
fair demand, some of the good butch
ers being placed at 18. ?5 tr s
while the top of the tra d A wne mnta
at $8.60 for liarht e-roAaa tta...
packing hogs sold below $6.50.
btLKkP: Of the estimated run todav
more than half came to big killers
and there was little in the open mar
ket. One lot Of ohniro n-itUro
sold at $9.75 wheh was caiio-i cto-,j..
The general market for lamVia
re - x i . . -. '"o
iiuni 10. veins 10 i nigner for
week.
the
Gastonia, Sept. 17. A demonsmv.or
team to represent Gaston county t.::
a corn demonstration at the in '
Fair in Raleigh, October 17th to
was selected yesterday by G. M. C
ren, State Corn Specialist at a com"
conducted in the auditorium of i: '
Chamber of Commerce which hs:i
from 10 o'clock in the morning ur.
4 o'clock in the afternoon. Each t:,
brought ten ears of corn, one got
stalk of corn and one undesirable stal
which was used in the contest dun:.;
the day. They were instructed in tfc
art and science of selecting seed cor:
in the fields and how to cull the ear:
after they were shucked. They we:
taught the most desirable types of car;
stalks and. grain to select for greau
the boys showed unusual abili:: .
in 'mastering the subject matter an
showed keen observation in handlir,.
the corn. However three boys ver
selected for the team with four alter nates
to draw from in case either of th
on the team get sick or fall now:
in training. Those selected tor in
first team were Edgar Lineberger froi:
Kettle Shoals Club in Dallas townshsi
Earl Shannon from the Mt. Olivet t'!u
in Gastonia township; Thomas Vze.
from Sunnside club in Cherry v:..
Township. The four alternate; :;
who are to have the same training
as the teams so that they will be reM 5,
in case of emergency to take a '
on the team are Paul Cloniger, Luthtij:
Kiser, Edwin Harmon and Buford Shar.
non. . s
These club members will be ?:rj
special training for this project ar.
they will have a demonstration boo. ?
at the Gaston county fair and w
cari-y this booth to Raleigh and give..
demonstration there in Seed
lection during the State
expenses of the teams
Raleigh will be paid by
Association.
Onlv five counties in the
offered the privilege of sending defl
stration teams to the State fair
only two are permitted to send
teams one in corn and one in pou-
and it is verv much to the cren
Farm Demonstration work of Gs?--
county that Gaston is one of the :s
counties in the State given the pnv-k-1
of sending two teams to the State tH;'
Corn ;
Fair week. -
for the tr:r-
the State
State cU :
STILLS SEIZED IN
AUGUST NUMBER 149
aausDury, sept. 17. Renort frnm n
omce oi tne prohibition enforcement
omcer ior JNorth Carolina shows that
during tne month of August 149 whis
key stills, 91 gallons of liquor and 135 -
OO-I ..11 i - ' 1
oij. gauuiis ui weer were oantnrpfl in
North Carolina. A large number of
' fermenters, one automobile and .-ma
boat were seized. Thirtv -SPVPn men
were arrested, eight of whom n.lr.it-
uavu ueen prosecuted.
COTTON IS KING
All the World Needs Cotton
INSTANTANEOUS SERVICE
STOCKS
10 shares up
COTTON
Units of 1 0 bales up
GRAIN
1000 bushels up
lMTTWn ADA flJ? T?TTC?TXTT7CiO
Greensboro, Sept. 17. John Winder,
w -4o ny, was nneo ouu in pocue
court today on a charge of retailing.
mv. n i . ... .
auo oyrcinc cnarge was mat ne sold a
quart or whiskey to Judge R. C. Stra(?.-
wick, a prominent . member of the lo
cai Dar. . Winder is a prominent busi
ness man. He was required to give
oona or $i,ooo for his . appearance in
court each three months to show good
1 . .m
inesier. a. v., sept. 17. J. A. Jenk-
Ino n n A Wr Ij- T u i -
. j... oairun nave iormed a
partnership and will conduct a garage
an dautomobile repair business in the
wauutin auuamg on Gadsden street un-
uer xne name oi tne Chester Auto Inn.
oeiiitms nas oeen occupying the
uiu pavinan on walnut street, which
was recently Dougnt by Chester cou
as a lace to store the county' trucks. ,
and other road machinery, '
Our
DIRECT LEASED
give YOU
will
WIRE to CHARLOTTE
this SERVICE.
H. W. BOWLES 219y2 W. Trade Street
Thones Charlotte 4482; Long Distance 9985
Correspondent "
..ROSE-.& SON
COTTON - STOCKS GRAIN
For cash or on conservative margin '
24 Stone Street
New York City