THE CHARLOTTE NEWS, CHARLOTTE, N. C, THURSDAY AFTERNOON, SEPTEMBER 22, 1 921.
17
- ' V
LIVESTOCK
TVjT
COTTON
GRAIN
BOND MARKET
SHOWS GAINS
Reduction in Reserve Bank
Rate Helps Investment
Demand; New Notes.
Iy STI'AKT I'. WEST
stafl" Correspondent of Tlie Xrnx.
, rijilit. 1 5il 1 - by n I'ubllahins Co.
Wall Street. New York, Sept. 22. Thf
. : i ipal effect of the reduction from 5
i j to ." per cent in the discount rate
the New York reserve bank, was to
s rulate the investment issues up to the
prices of the yeaf. There was no
filiate reflection itt the monev mar
! whore the renewal rate on cail loans
i ,s five per cent and the banks eon
: ,, ,! to hold out for six per cent on
, .-morcial paper. "With the spread of
, one per cent between the federal
, .-vrve rate and the banking- discount
,-, is a handsome profit to the banks.
:! :t is a eomi-.tion which may not
;,! U to stand up lor 'ong against the
, . t. that such a profit i- abnormal,
i; was a fortunate coincidence that
'..venns oi tne todf-rsl icsorve rate
...v simultaneously with the most in
otitis experiment which has been made
- , I.,!- in the season's investment market.
s was the offering- thia morn ins: of
c,:i::vviM of tlie six per cent equip-
notes, representing: the first install-
:. -, -u of the 330,0uy,O0ft which the gov
, -. :;u-ut has had on hand since the termin
.: ;) i'f federal control of rhe railroads."
; . are the highest form of an i:iest
, .t security not resting on government
.:, lit. hut they were put out on a basis
nrlil not more than 5.75 to 5.80 per
it was the lowest return so far
ml by any distributing syndicate this
. : ami as sucli was the most severe
.si which the reviving bond market has
. . - ktl.
W ettieial announcement was si veil oat
mufhVial reports were that the equip
vttit notes were going very well. The
:nk of England did not follow, as it
;.! at the time of the last reduction
example of the federal reserve bank
New York. It kept to The 5 1-2
r cent rate, showing, however, the
wrongest reserve position "A some time,
an increase in the ratio to liabilities
-j. tn 14.97 to 17.30 per cent.
The stock market was irregular and
nuinely unimportant. While setting the
,.;', of approval upon the sufficiency
. ti e deflationary movement in finance
. :. 1 business and strengthening confidence
the outlook, the cut in the bank rate
':.. no invitation to a fresh speculative
: . .ve. The speculative market, in fact,
-ik little notice of it. Prices opened
r and short covering caused a spurt
a point to two points in some ct the
.--eulative leaders. Railway shares were
;.! up for a while under the lead of
:'. '.aware. Lackawanna and Western,
u'-ading and Ontario and "Western. Then
filing was resumed in some of the stocks
;i which the much discussed "bull pool"
.as involved, thiefly in Mexican l'etro
. u:n and Studebaker. This selling: caus-
'! some -temporary uncertainty in the
ally afternoon, but was well resisted in
..a- list generally.
Apparently the market was only wait
v,x for the discredited speculative
iue to get through selling before
- lowing its true position. By tht ie-:-.ning
of the ast hour the driving
: vn of Mexican , Petroleum, Pan
. nierican and the various other weak
; ots ceased. This was the signal lor
.Ative buying to be renewed. sum. of it
insisting evidently of covering nur
i bases by traders who early in th? uay
'vid been operating for a further te-.it-tion.
Under this buying prices roii
.-peedily a point to two points before
;:ie advance was shocked. A remark
able earnings statement by Soutnern
1 aririe for the month of August made
a favorable impression in the market
for the railway stocks. It showed net
operating- income of $5,333,Ti5S as com
pared with $ J, -I.Vi. 154 in July. Southern
1'ac-ihV stock was actively bought on
the publication of these figures and
'..r of the standard rails were sym-
7i'ietically affected,
speculation quieted down noticeably
p both cotton and grain. Possibly
;;i i letn ed by the pronounced improve
:r. at in the English bank position,
-':i'ig had a substantial recovery,
;t::-l continental rates, including those
"i German marks, were firmer. No
.:;'! explanation for the lowered New
York bank rate was needed than the
-'-.i-parison between present conditions
I those of two years ago. At this
s;;ii.- in the bar.k rate was 4 1-4
' I 1-2 per cent cent with a reserve
:i for the Federal Reserve System
a whole of 40.4 per cent. Tho
I'rer-ent 5 per cent rate is still well
above September, 1919, although the
reserve ratio Is now 67.3.
MONEY AM) EXCHANGE.
New York, Sept. 22. Prime mercan
paper 5 7-8 to 6.
K.vhange firm; sterling 60-day bills
and commercial 60-day bills on banks
'i 7-8: commercial 60-dav bills 3.69
2-4: demand 3.73 1-4; cables 3.73 3-4.
Francs, demand 7.10 1-2; cables 7.11.
Belgian francs, demand 7.08; cables
T'S i-:.
tbiilders. demand 31.69; cables 31.75.
T-i;e. demand 4.14 1-2; cables 4.15.
Marks, demand 92 1-2; cables 93.
Jrefce. demand 5. Co.
Sweden, demand 21.75
Norway, demand 12.60.
Argentine, demand 30.62.
Brazilian, demand 13.12.
Montreal 9 3-4 per cent disount.
'Government and vrailroad bonds
string.
. Time loans easier; 60 days, 90 days,
: )- per cent; 6 months 5 3-4 per
. "all nmney firm; high 5; low 5; rul
r.s r-nrf dosing bid 4 1-2; offered at
last loan 5.
f'all loans against acceptances 4 1-4
10 4 C- I,
LIBERTY BODS,
York, Sept. 22. Liberty bonds
cosr.r: 3 1.2S( 88.78; first 4s. 89.48;
f'.onl 4s, S9.38; first 4 l-4s, 89.50; sec-
r , ' i i-4s, S3. 62; victory 3
vintory 4 3-4s, 99.24.
3-4s,
EVERYTHING
In High Quality
Building Materials
'Peter, Peter, Pump
kin eater,
Had a wife and
couldn't keeper,
He put her in a pumpkin
shell,
And there he kept her
very well."
Jjut you don't want to do
that build a home for
your wife and you'll find
Jt satisfies her better
than a pumpkin.
CITIZENS
Lumber Company
South Boulevard
fhones 3472-3473
ARRET QUOTATIONS; FINANCIAL NEW
EniTFn pv .MFra MARKET PAGE PUBLISHED IN TfcE CAROLIXAS.
- EDITED BY STTJART P WEST For 15 Years Financial Editor of The New York G
Features 1
By STUAUT P. WEST.
Staff CorreKponnnt of Th New
Pop, right, 1921, fcjKew, Pi.blIkh?nE Co.
ALLIED CHEMICAL.
tHltd cheical was bid up sharply
fioii? p?,nin of business on the
fhi Rrtfn!1S f ,the. srreat disaster at
the Badische works in Germany. This
is the largest German chemical plant
o? t rere,the most important rital
nlJ fn.lerican concern in case the
onTi h lff Wa? not to -ive an ade
quate degree of protection.
DELAWARE. LACKAWANXl 4XD
, WESTERN,
wiv A,Wa,re Lackawanna and Western
-riaf.ihe ,eader again among the rails.
I? Was noth'ng new to account
rrtinse hlch WRs simply due to a
nVZSl J1 ot rePrts which have beeri
din i f?1' 0m-e time that the "ivi-Sn?n-iS
t(beT mreased. As already
?nln,? Ut Lackawanna is earning
r? 5? to cover dividends at the old
canitai i? a shar,e on its doubled
t rvl1 i J,tPms hdrdly likely that
h,,t VtVn distribute as much as this,
out still such action is possible.
OM'ARIO AM) "WESTERN.
rwUal -UrVity at '''Slier prices in
, a1u Westprn calling attention
.the Possibility of something
important going- on in this stock.
Aey Haven owns the maioritv of On-
ark cfn- eftern- 'evv Haven bonis
.v cr.iiuS Himosi at tneir very bot
to.m. . a"d the stock yesterday cam
;V..Vun,?s UXAn :A Poit of its extreme
n,ie .ev Haven s earnings have
improved enough to take care of fixed
t.Vrites' ?,-8ay noth'ns of the ma-
LUritlPS fdllirrr t
X- .T "" "cai jt'ar. in a
,i,k Maven is in a position
where it would no doubt like to real
ize upon its assets wherever situated.
J1 ,V?,U a snare for its inaiorit,
iioiaings or Ontario and Western and
tms road is now earning at the rate
ot a per cent a year, which is more
inan it earned when it passed under
;rw naens control. A dividend on
...ii.wn, anu esiern wouirt oniv be a
drop in the bucket for New Haven,
but if by pulling the the stock back
n a dividend basis, a purchaser for
",r i ia i-uuin ne round at a good
..sine, tnen it would help matteis
ljib .w Haven considerably.
BURNS BROTHERS.
xiums r.rotners had an overnight
jump of threee points. The plan for
, 1 aLIon Wltn the Karrell Coal
uc communicatei to shareholders
iwuaui.v in U1e course of another
vffK. it is understood that under the
rearranged capitalization, the present
holders of Burns Brothers will come
in yiui increased dividends.
BANK STOCKS.
L.;inK stocKs have apparently "turn
ed the corner." After a lonsr dPfline
and dragging irregularly at the low
.luuLouuns nave advanced sharply In
fact the asked rri.- fnr
of many high grade large institutions
iiuiiuurti as wnen attempts are made
to buy for the stocks are not to i,
had
jeaiers say tneir main difficulty
now
o iu Jiiju iuens ior sate.
! Bond Market
By STUART P. WEST
Staff Correspondent of The News.
ingnt, jyai. by Xev Publinhlna Co.
Aew ork. Sept. 22. The two points
of interest in today's bond market were
the Federal Reserve Bank reduction and
what effect it would have upon the in
vestment situation and the result of the
first offering of $12,038,800 equipment
nuns, a late nour tnis atternoon ob
tainable about the equipment notes was
that they were "going well." The subscrip
tion books were still open. In other words,
the offering had not gone off with a rush
are put out at the lowest yield so war
ni tne iact, that the 6 per cent notes
awe otners have recently. But. In view
orrereci namely, o.7o to 5. .80 ner cent
no immediate over-subscription was an
ticipated.
Ihere was no doubt about the connec
tion between the Federal Reserve Bank
action and the eeneral bond innvfiTnont nf
the day. Dealings assumed a still livelier
pace, trices pushed ahead and manv new
high records for the year were reached.
New York Central debenture 6s were one
of the leading issues to make a. new hie-Vi
crossing 94. These bonds, the Big Four
o& and tne uammore and Ohio 6s, are
an rated in the some class, and all o
them were selling substantial on nar
ity today. Beltimore and Ohio 5s, South
ern Railway general 4s, Chicago Union
Station 6 l-2s and Rock. Island refunding
s were an up naif a point. The demand
i Keener sun ior more recent issues
like the Great Northern 7s, the Burlngton
joint 6 l-2s and the Pennsylvania 6 l-2s
The Great Northern rose a point, and the
Jennsyivanias nearly a point. The Burl
ington joint 6 l-2s got into new high
ground. Chesapeake and Ohio 4 l-2s were
up a point, and there was an active de
mand .v. higher prices for St. Pauf 4s
of 1925, Delaware and Hudson 7s, Atchi
son general 4s and Northern Pacific 4s.
In the industrials United States Realty
5s reached 89 for the first time. Cuban
American Sugar 8s gained a point ; West
ern union b 1-2S maed a new higher.
Westinghouse Electric 7s and Dupont 7s
continued to gain and Goodyear 8s were
strong, up from 103 to 103 1-2. The buying
movement was resumed m Third Avenue
adjustment 5s, carrying them up a point
and Market Street Railway bonds sold
at 74 as against the recent low of 70.
Liberty bonds had another, for them,
quite sharp advances.
Foreign government bonds were gener.
ally higher, with gains of a quarter to
half point in Canadian government issues,
in United Kingdom 5 l-2s of 1937 and in
City of Bergen 8s.
SUGAR-
New York, Sept. 22. The raw sugar
market was more active today at 4.13
for centrifugal. There were sales of
50,000 bags of Porto Ricos in port
4.13.
Raw sugar futures showed advances
of 5 to 14 points.
There was no change in refined
which is quoted at 5.61 to 5.65.
Refined futures were irregular, five
points higher to five net lower.
NEW IOR KPROVISIONS.
New York, Sept. 22. Butter weaker
creamery higher than extras 44 1-2 to
45: creamery extras (92 score) 44
creamery firsts (88 to 91 score) 3fi 1-2
to 43.
Eggs firm: firsts 34 1-2 to 36.
Cheese firm; do average run 21.
Live poultry steady; broilers 23 Lo
26; fowls 25 to 3,0; turkeys 35; dressed
poultry ieaay and uncnangeo.
SILVER.
Sept. 22. Foreign
New York,
silver 68 5-8.
bar
Mexican dollars 52 3-4
JOE GARIBALDI TO
INTRODUCE VISITORS
Colonel T. L. Kirkpatrick, general
chairman of entertainment and receo
tion for the Made-in-Carolinas Exposi
tion, has named Joe Garibaldi as intcr
locutor at th.3 exercises to be held a
the Exoosition grounds Monday afte:
noon when the Catawba county delega
tion comes to attend the Exposition.
Hickory and Newton, it is said, ar
preparing to send a big delegation to
the Exposition and these delegations
will be supplemented by large crowc
from other towns of Catawba cocnty
and from the country round aDout.
A. J. Beall. commander of the Hor
nets Nest Post No. 9 of the American
T,P(nnn. and Major w. li. JttoDertson
former commander of the post, wer
AAet in the eeneral reception commit
tee by Colonel Kirkpatrick. They will
the leeion on the general com
mittee. J. H. Cutter was also added to
the committee representing me main
COTTON MARKET
MAKING GAINS
1
Bullish Bureau Report;
However, Seems to Be
Discounted by Trade.
By STUART P. WEST.
Staff CorrcNDuuileiit of Tlio ir
Copyright, 1921, by Jiews Publishing Co.
New York. Sent. 22.-Tht notion nf
the cotton market on the first of the pri
vate end-month cron renorts torini- evi
dently created an impression that a bul-
usa oureau report had been discount
ed. This naturally led to a feeling that
the course of the market from now on
was more likely to be determined by trade
conditions which present many uncertain
ties tnan by any further revision of crop
statistics a view which had rather an
unsettled influence in the market. Reports
mat urygoous merchants generally would
resist an advance in prices to a parity
with 20 cents for raw material, or at
least buy only from hand-to-mouth until
they cOTrid make sure that consumers
would pay the higher prices were empha
sized by sellers.
There may also have been some selling
on reports that the spot basis showed
signs of easing in the southwest late yes
terday and that Arkansas cotton was be
ginning to come on the market. Other spot
advices were bullish, however, and pri
vate cables received from Liverpool said
that English traders were very nervous
over the probable showing of the official
crop figures which are scheduled for pub
lication on October 3.
The market opened firm at an advance
of 2 to 40 points in response to the higher
cables, with December selling up to 20.35
shortly after the , call. This made a re
covery ot 87 points trom the low level of
yesterday afternoon and when the J. "YV.
Jay report making the condition 40.5 and
the indicated yield only 6.200,000 bales,
failed to inspire fresh buying, offerings
increased. They included some southern
selling as well as liquidation and some
professional pressure as a result of which
near months soon reacted to about last
night's closing figures, while later deliv
eries were relatively easy. Differences be
tween Liverpool and New York are widen
ing," which would suggest that British im
porters feel that they must soon enter the
American markets to replenish supplies
which have been drawn down considerably
during the past few weeks. Private cables
reported a continued improvement in Man
chester, which i probably profiting by
the recovery in Far Eastern exchange as
reflected in the advancing market for bar
silver and higher rates for Indian trans
fers.
CHARLOTTE COTTON.
(Reported by J. S. Withers.)
Receipts today
.43 bales
Market opened
Noon price
lOc
. . .20c
NEW YORK COTTON.
New York. Sept. 22. The cotton
tiarket was influenced by the continued
stiength of Liverpool and bullish pri
vate condition figures during today s
early trading. First prices were firm
at an advance fo 2 to 4 0 points with
December selling to 20.35 and January
to 20.33 within the first half hour of
trading or about 28 to 32 points above
last night's closing. Realizing checked
t'.i' advance at these figures and caused
more or less irregularity toward the
middle of the morning. Private cables
reported small offerings and a con
tinued improvement in trade demand
in the Liverpool market and there was
some trade buying here at the opening.
Southern selUng helped to check tne
ecrly advance and there was talk of an
easier spot basis in the southwest.
the rauure oi Duinsn private crop
figures to stimulate fresh buying was
evidently taken by some of the local
traders as indicating that a bullish
report from Washington on October 3
had been discounted. This idea pro
moted liquidation while there was lo
cal or. Wall Street selling for a
reaction on the decline which carried
December off from 20.3a to 19.98 and
January from 2v.33 to 19.97 before
m!dday. Trading was quiet but prices
were within a point .or two of the
lowest early in the afternoon or 5 to
15 points net lower.
Liverpool cables reporting that a big
Indian business was pending in Man
chester encouraged an early afternoon
rally. There were also rumors of
another private crop report, making
tlie condition 40, but they were soon
denied and after working to 20.20 for
December or about 7 points net higher,
the market showed renewed irregular
ity around 2 o'clock.
CLOSE NEW YORK FUTURES,
New York, Sept. 22. Cotton closed
weak and irregular.
Open High
Oct 19.90 19.97
Dec 20.30 20.36
Jan 20.31 20.36
March 20.15 20.20
May 19.90 19.95
Low
19.60
19.98
19.97
19.78
Close
19.63
20.03
20.00
19.97
19.58
19.65
Spot
NEW YORK. SfCT COTTON
New York, Sept. 22. Cotton:
quiet; middling' 20.20.
NEW ORLEANS COTTON.
New Orleans, Sept. 22. Better cables
than due and a private bureau report
of 40.5 per cent of normal, indicating
a crop of only 6,241,000 bales, put tlie
price of cotton higher around the
opening today, but after advances of
to 47 points, heavy realizing was
met and the market reacted strons:lv.
so that at the end of the first hour
of business the active months were
only 2 to 8 points higher than the
close or yesterday. October advanced
to 19.85 and fell back ot 19.55.
The downward trend continued until
prices were 3 points over to 5 pointri
under the level of veste -na v s r-losmc-
with October at 19.46. New buying,
Dased mainly on claims tliat piuKiii3
was nearly over within many impor
tant sections of the belt, came in at
these pricss and toward 11 o'clock the
market was about 20 points up from
tne lowest.
After mid-session prices changes
were somewnat narrower. Alter reach
ing net advnaces of 25 to 30 points.
the market felt renewed realizing bv
longs and fell off toward the close, to
net advances oi only b to 15 points.
CLOSE NEW ORLEANS FUTURES.
New Orleans, Sept. 22. Cotton closed
easy at net advance of 3 to 13 points.
Open Hign Low Close
Oct 19.75 19.85 19.46 19.52
Dec 20.00 20.19 19.75 19.85
Jan 20.08 20.14 19.65 19.75
March 19.78 19.90 19.47 19.58
May 19.57 19.67 19.20 19.0
NEW ORLEANS SPOT COTTON.
New Orleans, Sept. 22. Spot cotton
. i .i . , i .I . i . .
sieauy ana uncuaiigeu; saies on tne
spot 1.949 bales; to arrive 110.
Low middling 17.50; middling 19.50;
guuu iiiiTaiius iv.tfv.
Receipts 2,995; stock 414,417.
LIVERPOOL COTTON.
Liverpool. Sept. 22. Cotton:
large inquiry; prices higher.
Spot
Good
middling 15.88; fully middling 15.1b;
middling i4.bs: low middling 13.54;
good ordinary 12. oS: ordinary 11.78.
Sales 15,000 bales, including 11,500
American. Ko receipts.
Futures closed steady. September
14.33; October 14. lo; January 13.65;
March 13.30; May 12. as; July 12.65
SAVANNAH NAVAL STORES. I .
Savarinah, Ga., Sept. 22. Turpentin
firm, 70 1-2; sales 419; receipts 602;
shipments 8; stcok 7,583.
Rosin firm; sales 982; receipts 1,231;
shipments, none; stock 74,228.
Quote: B 4.45; D 4.55; E F 4.60; G
4.70; H 4.85; I 5.05; K 5.20; M 5.30; N
5.35; "WG 5.40; WW 5.50.
COTTONSEEIl OIL.
New York, Sept. -22. Cottonseed oil
closed steady. Prime summer yellow
10.00 bid; prime crude 8.50 bid; Sep
temoer 10.15; October 10.16; November
9.99; December 9.88; January 9.88; Feb
ruary 9.9fi; March 10.02; April 10.00.
Total sales 13,200.
MASONS HONOR PRESIDENT.
Boston, Sept. -22. President Harding
today was elected to receive the 33d
degree in Free Masonry. The action
was taken at the annual session of the
supreme council of Scottish Rite Ma
sons for the northern jurisdiction.
1 - - - - - - ,i I, w :
Globe.
Wall Street
I.
New York. Sept. 22. The cuA in re
discount rates announced by the Iocil
Federal Reserve Bank after the close
of yesterday's session prompted active
buying for both accounts at the open
ing of today's stock market. Raiic,
equipments, oils and motors were most
favored. Reading, Baldwin, Harvester
and Pan-American Petroleum averaged
one point gians. American Interna
tional. Goodrich,- Industrial Alcohol,
Studebaker, United States Rubber, Re
tail Stores, and tlie leading trans
continental rails also strengthened.
Heaviness was shown bv Bethlehem
Steel, American Sugar, Pullman, Food
Products and Utah Copper.
The closing was strong. Sales ap
proximated 550,00,0 shares.
NEW YORK STOCK LIST.
Last .Sale.
Allis-Chalmers .. .. .. ..
American Beet Sugar
34
2S
27 1-8
126 1-2
49 1-2
32 1-2
90
36
G2 1-2
1'.' 3-4
107 1-S
74 3-1
37
85 7-8
27 1-2
88 1-4
3S 5-8
54 3-8
112 1-4
27 3-1
4 3
55 i-2
26
33 7-5
23 1-4
24 3-4
753-4
63
8 1-8
13 1-4
123 7-8
10 1-4
31 1-S
76 1-2
28
95 3-4
33 3-4
44 3-4
48 1-2
20
108
103
20 1-2
12
25 1-2
?0
73
, 15
95 1-2
78
8 1-4
1 7-S
4.8
39
53 1-4
26 5-8
. 12 5-3
72 1-4
51 3-4
47 1-4
34 1-2
19 7-8
78 7-8
20 3-4
107
74 5-S
7 3-4
35 5-8
23 1-8
68
7 3-S
121 1-4
11
52 5-S
40 1-2
48 7-S
78 7-8
49 1-8
44
6
24 1-2
86
35.
38 1-2
5
37
107 1-4
29 1-S
123 3-i
8
50
American Can
American Car & Found rv
American Hide & Leather pfd
American international Corp.
American Locomotive . . ....
American Smelting & Refining
American Sugar
American Sumatra Tobacco . .
Anierican T. & 1
American Tobacco bee
American Woolen
Anaconda Copper
Atchison .
Atl.. Guif & W. Indies
Baldwin Locmootive-
Baltimore & Ohio
Bethlehem Steel "B"
Canadian Pacific .
Central Leather
Chandler Motors
Chesapeake & Ohio
Chicago, Mil. & St. Raul
Chicago, R. I. & PiJ
acnic
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 ctfs . .
Illinois Central
Ir.spiraiton Copper
Int. Mer. Marine pfd . . .
International Paper .. ..
Kennecott 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. & Ref. .
Pan American Petroleum .
Pennsylvania
People's Gas
Pittsburg & W. Va. . . .
Ray Consolidated Copper
Reading
Rep. Iron & Steel
Royal Dutch, N. Y
Shell Trans. & Trad. .. .
Sincliar Con. Oil . . . .
Southern Pacific . . . .
Southern Railwav . .
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 . .
IT. S. Rubber . .
LV S. Steel
Utah Copper
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
Grain Market !
Copyright, 1021, by News Publishing Co
Chicago, Sept. 22. Wheat was ex
tremely nervous in tone. The start was
lower on a conthinuation of eastern sell
ing. Local professionals took hold on
the dip replacing lines of long wheat re
cently liquidated. Later the buying pow
er was increased by purchases bv export
houses. It was then announced that sales'
of 400,000 bushels of wheat had been
worked for export via the Gulf presuma
bly to Italy and a local house -sold 30,000
bushels to a seaboard exporter. Cotton
longs and northwest interests sold on the
bulges, but the technical position of the
market favored buyers and dips were
shortlived. Kansas City reported increased
sales of wheat from the country but north
west reported interior offierings light,
Weather has cleared up and threshing of
spring wheat will soon be resumed. Sales
of 100,000 bushels of corn were made to
go to stire. Seaboard reported the United
Kingdom a re-seller at four cents below
cost of Manitoba and six cents to eight
cents on hard winter.
Corn prices showed more stability
There was support given the market-by
bouses supposed to be acting for a lead
J ig elevator interest. Locals were the prin
ipal sellers. Cash corn firm Dtit offer
ings on the spot were liberal. Domestic
shipping was slow and there was no in
quiry from exporters. Weather was more
favorable for curing tne crop.
Oats were firm. There was good com
mission house buying in evidence. North
west houses were the principal sellers.
Cash oats bais was unchanged. A slight
improvement in the domestic shipping de
mand was reported. Sales of 50,000 bush
eds of oats were reported to go to store.
Provisions were dull. Houses with stock
vards connections bought while packers
sold.
Chicago. f?ept. 22. Rallies took place
in the wheat market today after an
initial decline. Opening ngures un
changed to 1 cent lower.
Corn opened unchanged to 1-2 cent
lower.
Oats started 1-8 cent to 3-8 cent UP
Lower quotations on hogs weakened
provisions.
CHICAGO GRAIN AND PROVISIONS
Chicago, Sept. 22.
Open High
Low Close
WHEAT
Dec
May
CORN
Dec
May
OATS
Dec.
Mav
PORK
Sept
LARD
Oct
Jan
RIBS
Oct.
Jan
.24Ji 1.26 1.24 1.25
.27 Ya 1.29 1.27 & 1.29
n2 52 51 52ls
55 ?i 56 55 56
37 37 74 37 37 -'4
41 42 41 417s
18.50
10.90 11.05 10.90 11.02
9.55 9.57 9.47 9.52
7.55 7.70 7.55 7.72
8.15 8.25 8.15 8.22
CHICAGO CASH GFAIN.
fhifaE-n Kent. 22. Wheat, No. 2 red
1 25; No. 2 hard 1.22 1-2 to 1.23 1-4
Corn, No. 2 mixed 53 to 53 1-4; No
yellow 53 1-4 to 53 1-2
Oats No. 2. white 36 to 37; No.
white 34 to 36. . ,
Rye, No. 2, nominal.
Barley 57. , rA
Timothyseed 4.00 to 4 50
Cloverseed 12.00 to 18.00.
Pork nominal.
Lard 10.95.
Ribs 7.75 to 9.2o.
Wheat closed firm,
net higher.
Corn closed firm,
net higher.
1 to 1
1-4 to
1-2 cents
1-2 cent
CHICAGO POTATOES.
Chicago. Sept. 22. Potatoes stronge
finneantn Red River OhlOS 2.5o tO .bO
r.wf wiar-onsin white 2.50 to 2.60 cwt.
Maine cobblers 2.55 to 2.65 cwt; Idaho
white 2.50 to 2.bu cww
CURB
BONDS
STOCKS
Live Stock
n.y.-:irht, 102!, by N.-w Inliliftiiinir '.
Union Stock Yards. Chicago. Sept.
22. Heavy supplies of hogs at tins
and otI;r markets cut the demand s-t
the -local yards, and values settles at
tlie low Doint for the week. In the
cattle alleys sellers looked for a weak
trade but demand was- better than
expected. Less than 300 cattle were
forwarded to big packers, while only
about 300 western cattle arrived dur-
ng the day. Most of the range lambs
were feeders and this end of the trade
held well. .In view of the fact that
good killing lambs now sell at $8.50
reeding lambs seem high at ?.2d to
$7.35 for the best.
Receipts of livestock at the local
yards today were estimated at ' 9.000
cattle, 25.000 hogs. 18,000 sheep and
mbs and 3,000 calves.
CATTLE: Demand was a little slower
n the cattle Dens from the start but
the market showed up better after the
first rounds. The racr that sellers
were able to dispose of some plain
steers held over from early in the week
made the trade look better. Few steers
sold "above $9 but even common stock
held steady. Cows and heifers also
were picked up well. Calves were off
25 cents in some spots, with packers
paying $12 to $12.50 for good lots.
Canning cows and bologna bulls were
ttken at unchanged levels.
HOGS: Values were 15 to 25 cents
lower for all grades of hogs. oome
strictly prime animals made ?S to $8.30
tut most ot the choice light hogs wenc
at $7.75 to $8.25. The top of the
market was at the low point of the
week. Plain packing hogs sold ar
$6.25 and below'. '
SHEEP: Western lambs sold 23
cents lower in some spots, but natives
vere strong. Choice range stock went
over at $8.50. while some were placed
a 1 $0. 10. j op native lamos aiso were
placed at $S.50 to $8.75. Good aged
stuff sold steady.
CHICAGO LIVESTOCK.
Chicago, Sept. 22.
CATTLE: Receipts 9.000: beef steers
strong to 25 higher; corn fed advanc
ing most; top yearlings 10.75; nest
heavy steers 9.25; bulk all weights 6.25
to 9.00: she stock steady: canneta
steady; best canners 2.75 to 3.00; bulk
fat cows and heifers 4.00 to 6.50; bulls
strong; bulk bolognas 4.15 to 4.35:
calves slow 4o lower: stockers and
feeders dull.
HOGS: Receipts 25.000: active: bet
ter grades 10 to 20 lower: other.--
steady to 15 lower than yesterdav's
average; top S.30; bulk lights and light
Dntcners .uu to 8.25; bulk; packing
sows 6.50 to 6.85: pigs steadv: bulk
desirable 7.25 to 7.50.
SHEEP: Receipts 18.000: western fat
lambs 25 lower; fat she . native lambs
and feeders steadv: tOD - native lamhx
early 8.75; bulk 8.00 to 8.25; culls most
ly a.00 to 5.2o; westerns 8.75; top fat
ewes 4.50; early sales feeder lamba
7.25; top late yesterday 7.40.
Curb Market
By STUART P. WKST
Staff Correspondent of The News.
Copjrisht, 1921, 1- Sews Publishing Co
xvew lork. Sent. 22. Short covering-
and some outside buying caused ad
vances in a number of issues on the
curb exchange during the forenoon to
day, but the higher prices again at
tracted profit-taking sales and reaction
following. Commission houses report
ed a better demand and purchased on
balance, despite the fact that they
were sellers in the afternoon. Pro
fessional operators were more acliva
and pool manipulators also took a
greater part in the day's dealings than
in a weeK.
Texas Gulf Sulphur moved up some
what at the start, but met realizing
sales and reacted. Farrell Coal was
in urgent demand and rose several
points witn only a slight recession.
irom tne nignest. oien Alden Coal
ran up several points on short cover
ing, and a steady tone was shown in
Tobacco Products Exports. Hcvdn
Chemical, the Radio issues and Philin-
Morris.
Maracaibo was the leader of the oil
shares, being unusually active :ind
njoving up sharply. Standard Oil of
Indiana was in fair demand IVr a
time and advanced a point but reacted
later on a fair supply from commis
sion houses. Anglo-American On was
slightly higher and a steady tone was
shown in Elk Basin, Sapulpa, Skeliy
and Simms Petroleum.
Boston and Montana was xhz leadev
among the mining shares, making a
new high for the present movement on
advices that the company's concen
trating mill will start operating short
ly. Golden States Mines also was in
good demand and touched a new high
mark. Other mining stocks were ac
tive and slightly higher.
Interborough 7s attracted attention
among tha bonds. There was an.oariv
demand which caused an advance of
a' point, but selling later brought -tbcut
a reaction. Other bonds were steadv
to firm.
CLEAN-UP SQUAD TO
REACH CITY TONIGHT
' Members of the "clean up squad" of
the disabled soldiers bureau, who arts
to conduct the campaign here during
the next four days to clear up all claims
against the government held by dis
abled service men, are expected to reach
Charlotte Thursday night and open the
campaign Friday morning.
A. J. Beall, commander of Hornets
Nest Post of the American Legion nad
chairman of the campaign organiza
'tion, did not know the names of the
members of the squad but five or six
are expected to come. Dr. J. K. Ross,
of this city, will be in the squad. The
members came from Shelby where they
have been working for the last three
days on disability claims.
Members of the squad can be found
at Red Cross headquarterl in the Mint
building after 9:30 o'clock Friday morn
ing. All ex-service men having disabil
ity or insurance claims against the gov
ernment wMl receive prompt considera
tion of their claims by presenting thorn
to members of the squad during the
four-days' campaign.
The squad members will be entertain
ed while in the city by The American
Legion, Women's Auilliary, canteen re
serves, D. A. R., War Mothers and oth
er patriotic organizations.
Mr. Beall said he expected the squad
to clean up virtually all claims Jield
by service men of this and adjoining
counties. Over a thousand claims were
cleared up while the squad was in
Asheville, and reports from over the
state indicate they have been success
ful in each city visited. The squad has
been in this state about a month.
CLEARING HOUSE TO
BE HOST AT DINNER
Members of the Charlotte Clearing
House Association will be hosts at a
dinner at the Charlotte Country Club
this evening at 6:30 o'clock in honor
of Governor TV .P. G. Harding, of the
Federal Reserve Board and Governor
George J. Seay of the Federal Reserve
bank of Richmond, who are special
honor guests at the Made-in-Carolinas
exposition today on "Bankers' Day".
Messrs. Harding and Seay arrived in
Charlotte early Thursday morning and
were met at the station by a commit
tee of Charlotte bankers. Afterwards
they were taken on an automobile ride
over the pity, were guests oi the Amer
ican Trust company at the big ban
ouet which that, institution gave at the
city auditorium in honor of visiting
bankers and business men and later
were taken to the exposition grounds
where Mr.j Harding delivered the ad
dress of the day. The dinner at the
country club will culminate the honors
that have been arranged as Charlotte
hospitality for the bankers-
FULFILLMENT OF
TREATY SOUGHT
Poland's Ultimatum to the
Soviet May Call for One
from Moscow.
Moscow, Sept. 22. (By the Associat
ed Press). Leon Trotzky. the Soviet
War -Minister, who has just returned
here from the Ukraine, addressed an
enthusiastic meeting of. the Moscow So
viet today. He said an ultimatum had City. How he took a peculiar advan
been received from Poland on Monday, , ta f friend's frpnproaitv
in which the Poles demanded fulfillment
of the peace terms signed in Riga, but
he declared Russia could also make
demands for fulfillment of the treaty
as Polish generals were supporting ban
ditry in the Ukraine and Poland itself
in many ways was violating the pro
visions of the treaty.
Reviewing his visit to the Ukraine,
Trotzky said the maneuvers of the so
viet army had been mistaken by civil
ians and even by many soldiers as a
massing of the Soviet troops on the
Polish border. As a matter of fact,
however, he declared, the Soviet army
had not massed alonaf the border but
was put there in sufficient numbers to
guard against enemies.
Trotzky asserted that banditry was;
declining rapidly in the Ukraine which
was becoming better organized with the
result that the population; no longer be-1
HIV UyuiULlVli; 11 IVllgV 1 iv -
the representations of bandit
that they were politicians seek-1
lieved
leaders
ing to free the Ukraine, but understood
that ' they were outlaws and tools of
Polish and French schemers.
MR. HARDING RODE IN
A STATE-MADE AUTO
When Governor TV. P. G. Harding,
of the Federal Reserve Board arrived
in Charlotte Thursday morning to at
tend the bankers' banquet, given by the
American Trust company to bankers
of North and South Carolina, who are
here for the Made in Carolinas expo
sition, he was conveyed to the South
ern Manufacturers Club, his headquar
ters while in the city in a Made-in-Carolinas
automobile.
The handsome big touring car made
in Greensboro by the American South
ern Motors Corporation which has at
tracted much attention at the Made-in-Carolinas
exposition, was waiting at
the Southern station for Governor
Harding with Mr. Ballenger, of the
company, in charge. . .
Before the car drove away from the
station, Governor Harding and the
bankers' reception committee consented
to pose for a moment while Photo
grapher Gallagher, of Charlotte, snap
ped the party. The party in the car
was composed of Mr. Harding, TV. H.
Wood, R. A. Dunn, H. M. Victor, and
John M. Scott.
The rubber tires on the wheels of the
car were made at the McLaren Itubber
Company's plant here and that fact will
be shown by a written inscription on
the wheels when they appear in the
picture.
BUILDING TOOLS IN
HANDS OF OFFICERS
Enough builder's tools are in the po
session of the nolice to supply an army(
of carpenters as the result of the ar
rest by Detective Beagle early Thurs
day morning of Holland Forney, negro,
of 419 West Second street. In addition
equipment sufficient to fit up' a first
class blockading establishment was al
so seized when a search of his home
was made.
Detective Beagle happened along s
Forney was in the act of taking a lan
tern from a building under construc
tion on South Tryon street. When
the officer accosted Forney the negro
swore that he not only was a night
watchmen of unimpeachable character
but that he had been employed by one
boss man, whose name he could not re
member, for three years.
Forney's story was too light for the
detective however, who hauled him into
police headquarters. The police Ford
went down to his house on West Sec
ond street and a search cf the prem
ises produced a big assortment of
builders' tools and blockaders' equip
ment. The tools included hammers, saws,
chisels, screwdrivers, and everything
else that a first class carpenter uses
as equipment. Police Chief Orr is
strongly suspicious that Forney has
been loafing around dwellings which
are going up in Myers Park and Dil
wqith. He invited carpenters working
in those sections to call at headquar
ters and identify the tools.
The chief is also under the impres
sion that Forney has been fooling with
liquor. As a matter of fact, a quart
was found in the house, divided among
a dozen fruit jars. A couple hundred
extra jars were empty but they had a
whiskey oAor.
SHEPHERD DOG SHOT
AFTER BITING COUPLE
A big shepherd dog was killed by of
ficers at 1706 South Tryon street
Thursday morning after it had bit two
children and several dogs. The head
was turned over to ths city health de
partment for an examination for rabies.
The actions of the dog indicated that
it was mad.
When Detectives Moser, Riley and
TVest and Misch Brown, the police jan
itor arrived at the residence they found
the dog under the dining room table.
The occupants of the- home had turned
it over to the canine completely, as a
precautionary measure.
Misch Brown borrowed a garden hoe
from one of the neighbors and made an
attack upon the dog. Urged on by the
cutting end of the hoe the dog retreat
ed from the presence of Misch. As
it entered the back yard, Detective Mo-
rser fired away putting a heavy load of
buckshot into the body.
The names of the children who were
bitten had not been .reported to the
police or the health authorities Thurs
day. Dr. E. M. Duncan, city bacter
iologist, was expected to. examine . the
head during the afternoon. If the an
imal is found to have had rabies par
ents of the children will be' notified of
the necessity for anti-rabic treatment.
The police suggested that persons in
the neighborhood who own dogs to
confine them for the next few avs.
Several were bit by the canine and
the possibility exists of others becom
ing infected.
ARGUMENT IN RAMEY
CASE IN PROGRESS
Anderson, S. C, Sept. 22. Arguments
in the case of Walter L. Hayes, George
Wilson, Ed Wilson and Allen Emerson,
charged with the murder of T. F.
Ramey, were starttd this morning,
each side being allowed two hours. Tak
ing of testimony was ended yesterday
afternoon and the jury, court officials
and the four defendants, were taken to
the scene of the murder, which occur
red on the night of July 14 last.
The visit to the scene of the, killinc
was at the instance of the prosecution
and was objected to by 'the counsel for
the defense, but the objection was over
ruled. The case has been one of the most
interesting trials on record,in the coun
ty, the examination of-witnesses having
consumed several days. It is expected
that the case will go to the jury this
afternoon.
HOUSETOPS ARE
SECRET TELLER
Utilized Friend's Proffered
Car to Call on, Same
Man's Girl.
That the secrets of the closet shall
be proclaimed on the house tops are
the sentiments of Edward Msrritt, trac
tor salesman, whose home is in Elm
his scheme spread broadcast in spits
of his efforts to plug up every loop
hole is an interesting and amusing
story.
"I have a friend living in Kenly who
is in the cotton business," explained
Mr. Merritt. "One day not long ago h3
came to Elm City, while on an inspec
tion of farming land. I invited him to
spend the day with me. About noon he
received a telegram from his company
asking him to repovt in New York.
At the time he had a big touring car
with him.
" 'You keep the car until I return
next week,' he said. 'Here is the key
you can ride as much as you like.'
"Little did he know whereof he
spoke at the time. No sooner had be
left Elm City than a wild idea took i;i
board and lodging in my cranium. I
- V - 4 M.
decided to take his car and gt i
Richmond, Va. a distance of almost
200 miles. Surely I could spend a day
or so there and return before my friend
reached town again.
DROVE TO RICHMOND.
"And away I went that identical af
ternoon. I spent the night in Rocky
Mount. While there I saw another
friend of mine, and told him in which
direction T was headed.
" 'Say, I know a wonderful youn.-r
lady you can look up in Richmond,'
he cried. 'I met her at a dance thoro
about a month ago.'
"With that he wrote me a 'note '
introduction' and urged me to meet
her by all means.
"I called her up as soon as I reach
ed the city, and fortunately, she per
mitted me to see her. I drove out io
her home with the 'note of- introduc
tion.' She was every bit as wonderf.il
as my friend had told me.
"I stayed in Richmond about two
days and then started for Elm City.
About a day after my return, the
owner of the car called mo up. He
had just arrived in town and said he
would be around in a few minutes to
get the car. ...
" 'I have taken good care of it, I
told him. 'Ran it around town a bit
while you were gone, but didn't tax the
old boat's vitality.
HAD CAUGHT OX.
"He thanked me for my kindness ii
taking care of it. and that afternoon
went back to Kenly.
"It was about a month later that I
ran across him while waiting to make
train connections in Selma. From ho
look on his face, I knew he had some
thing up his sleeve. He was- smiling,
however, when h" approached me.
" 'Say, Ed,' he began. 'I didn't min i
about you taking my car to Richmond
so much but I'll be hanged if I don't
think it was a dirty trick to try lo
steal my girl, too!'
"Well, sir, that knocked me out m
tirely! He explained that he had been
engagpd to th girl for some time, and
that she had written him a letter nd
told him all about my trip to the Vir
ginia capital. I had never mentioned
his name to the girl, but I had toll
her about 'swiping' the car to mal'.e
the trip. She recognized the car imme
diately, and mischiev6usly spilled the
beans to her fiance.
"Take my advice and don't ever rv
any underhand work. It will com?
out in spite of-the best efforts to ke -p
it smothered. The secrets of the closet
shall be proclaimed on the house tops.'
WILL ASK ALLOWANCE
FOR THE UNEMPLOYED
Chicago, Sept. 22. A mass meeting
to determine work or a Federal unem
ployment allowance equal to at least
75 per cent of current wages will be
held Sunday ajternoon in Washington
Square park by the Amalgamated Met
al Workers of America, it was announ
ced today. '
The -meeting will be held in support
of a program for the relief of the un
employed,' which the metal , workers
have submitted to Congress. The plans
ask a minimum of $20 a week for all
unemployed wor.kers, the .allowance to
be raised by a tax 'levied on all sal
aries and incomes in excess Of $5,000
a year that is derived from non-produc
tive sources.
At the park bureau office, i,t was said
that no application had been made for a
permit to hold the mass meeting and
that if one is made, it probably would ;
be denied. No permits have been is
sued for similar meetings, planned in
the past, the bureau said.
CHARGE OF DYNAMITE ;
FOUND UNDER TRACK
Fitzgerald, Ga. Sept. 22. Officials of
the A. B. and A. Railroad today are j
investigating current reports that a !
section foreman found a large charge j
of dynamite buried beneath a rail near ;
Arp yesterday? From what could be ;
learned, the charge, from all appear-;
ances, had been buried beneath the .
rail several days ago.
Arp is a small flag station between ;
Fitzgerald and Cordele and1 12 miles'
from the former city.
NOTICE OF SUMMONS AXD WAR
RANT - OF ATTACHMENT, ;
North Carolina, Mecklenburg County.
In the -Superior Court.
C. O. Brown and Mary K. Brown,
Plaintiffs, vs. Bernard Oliver and E. !
L. Riles, Defendants.
The defendant, Bernard Oliver, above j
named will take notice that summons ;
in the above entitled action was i3- ;
sued against said defendant on the
19th day of September, 1921, by C. C. .
Moore, Clerk of Superior Court of i
Mecklenburg County, for the sum of!
Seven Hundred and Fifty Dollars
($760.00) dae said plaintiffs by a con- j
tract or lease of certain real estate In j
the City of Charlotte, N. C, whiah '
summons is returnable before th.
Clerk of Superior Court of Mecklen
burg County at his office in said county ;
on the 29th day ot octoner, ivzi.
The defendant Bernard Oliver will '
take notice that a warrant of attach
ment was issued in said cause by ,
C. C. Moore. Clark of Superior Court
for Mecklenburg County on the 19th
day of September, 1921, against the'
property of said Bernard Oliver, which ;
warrant is returnable before the Clerk '.
of Superior. Court for Mecklenburg ;
County at his office in said county on
the 29th day of October, 1921, and!
that under said warrant of attach- ;
ment the Sheriff of Mecklenburg Coun
ty has levied upon the following de
scribed personal, property of said Ber- :
nard Oliver found in said Mecklenburg
County:
Eight Marco Farm Light & Power i
Planta.
One Sterns Automobile.
One Letter File.
One L. C. Smiht Typewriter.
On Royal Typewriter.
Three Flat Top Desks.
Six Office Chairs,
and the defendant will take notice that i
he is -required to appear, answer or i
demur to the complaint of the plaintiff !
or tne reiier asKed tor win be granted,
and the said attached property, or so
mucn thereof as is necessary to satisfy
the claims of the plaintiffs and tho
costs of the action, will be sold at i
public auction according to law. I
This the 22nd day of September, 1321. j
. v C. C. MOORE,
uierK oi superior wourt or jviecmen-1
I' burg- County.
-22-4t-oawj
trial, and mercantile me oi iu vi.
i