THE CHARLOTTE NEWS, CHARLOTTE, N. C., THURSDAY AFTERNOON, SEPTEMBER 29, 1921.
I . ' w ux.. a xi a. xivil JKJ19 O-CjJT XCilTlOrilV 17, 1.741...'
i
r
4
I
LIVESTOCK
COTTON GRAIN
STOCK MARKET
TAKING NOTICE
I Renins to Show Evidence of
Being Wise to the Turn
I for the Better.
By STl'ART r. AVKST
stnfT Correspondent of The News.
!: right. 1821, by Xews rublinlilns Co.
Wall Street. New York. ept. 19.
stock market showed much more
vest than it hal yesterdav in the
' iniing: signs of a turn for the bet
H. the business situation. Nothing
, . !,ped further in the trade news
.:) beyond what had bee.i ptr
::y well known the dav before, it
:s simply a case of a somewhat
,;' recognition of the importance of
i items as the increase m steel
. s. tiie big 5.00,000 pound buying
er for the copper metal and the
oral raising; of oil iuolation3 25
ts n barrel. The only new con
ation at all this morning was the
-. :os-.ire in the six months report of
.. '.iar Oil. that speculative Wall
i t wont far astray when it figured
vith ago that inventory write-offs
d wipe out current profits for most
:l-e oil producers.
Sinclair, like Cosden. which reported
iays ago. while it naturally showed
avy increase in earnings, neverthe
; was able to record a verv sub-iT-:;al
net profit after writing its
n hand down to the market and
.t:ng all other charges, including;
rarest. This accomplishment, where
.ui Street had been looking' for a de-
, t. necessarily brought about a sharr.
,. v .'.sion of sentiment toward the oil
ip m general. Oil shares took the
..-rid when business began this morn-
c. bit the fact that the oils were
'..-.'ominK more responsive to their
::t V advices, encouraged a simUv .
Si'.v e in the steels and the coppers.
'!'!. ere was no question thai th
pMvhase of the copper metal cmiounc
fl T;:e?day afternoon had stiffened the
market and led the leadinng producers
'.o hoi 1 off for higher prices.
l-'or the first time in a week or more
it was the stock market which was
the center of interest. Other markets
ass 'tined a subordinate important, c.
"cttor. ran into heavy realizing sales.
nUhoujeh still displaying a very large
r iyiritr power. 1 he decline continued
ir, cram options, partly because of the
over-rating of crop damage estimates
but more largely as the result of the
enormous movement from the farms.
Another measure of these farm ship
ments, ana me exceptional dimensions
w.iUh laey have attained appears in
the August railway statements. The
"hicago A: Northwestern a typical
raln carrier which had a loss of
1 o. (mm), 000 during the first six month
i tne ear, was aoie to report a
gross increase In August over Julv
I $.,b..u.ooj and a balance available
:t dividends of ?;. (14.000. This, if
sustained, will allow the Northwestern
to go nacK to its former i per cent
dividend. The stock was one of the
strongest in the market today.
The check to the decline in German
marks was still in evidence and there
was a fair rally with the course of the
-lay. which helped the other European
f x-'hanges. The advance went further
in Hong Kong exchange but without
effecting rates elsewhere in the Far
i-ast. 1 lie bond market which had
advanced yesterday and the day before
resumed its upward course. Apparent
ly the investment community was sat
isfied that as large as. the recent offer
ings of equipment trust notes antf
otner issues has been, that it has not
overtaxed the investment demand. The
Federal government was credited with
tne purchase ot 5;.. 000. 000 Victory 4 3
per cent notes the largest single block
transaction ever recorded.
So far as the stock market was con
cerned, the point that struck pract
cal observers most forcibly was that
took less than an hour to wipe out all
tne loss which three days of persistent
efforts by speculators for the decline
nad been able to bring about.
SAVANNAH NAVAL STORES.
Savannah, Ga.. Sept. 23, Turpentine
r.rm, 1-4; sales ii.-; receipts 611
shipments S; stock S.S67.
Rosin steady: sales fS3: receipts
1.-
F
shipT.ents
Quote: B D
l: stock j.b9I.
4.15; E 4.10 to 4.45;
4.20 to 4.50; H 4.35
4.75; K 4.70 to 5.00;
5.00 to 5.35; WG 5.40
to 5.60.
4 15 to 4.45; G
to
M
to
4.60;
I 4.50 to
4.??
to 5.10: N
5 Fft-
WW 5.50
CHICAGO PROVISIONS.
Chicago. Sept. 29. Butter higher;
nrsts A-, i-z to 41 1-2.
Eggs higher; firsts 37 to 39.
Poultry, alive, lower; fowls 16 to 25;
springs .'J.
SIGAR.
.New ork. bept. L'9. Haw sugar
steaav at i.ii tor centrltugal.
Hi-fined unchanged at 5.50 for fine
sranulated.
KING COTTON
J
Blazes Trail to
Prosperity
How will the advance in
Cotton affect general SE
CURITY VALUES?
Letter No. C-240 gives brief,
vital explanation. It will be
well worth your while to
write for your free copy
today NOW.
ROSE & COMPANY
INVESTMENT SECURITIES
Broad St. City of New York
50
r
EVERYTHING
In High Quality
wilding Materials
Ml For several months
1 we have been urs--Uing
you to build. We
felt that the time was
opportune. Events have
proved us right for the
wholesale market is ad
var.cing. Retail prices
will have to follow. Place
your business on today's
Prices.
CITIZENS
Lumber Company
South Boulevard
Phones 3472-3473
ARKEt QUOTATIONS; FINANCIAL NEW
miiT0l9IKMAraET IAGB PUBLISHED
-tow
B J STUART r. WEST.
Stall l Orfnnnniln nt T. v
Copyright. 1921, by New, Publishing Co.
OII,S IX LEAD.
Operations for the rleo (r. 11 .u. .
f.ot under way vesterriav nrhan n,
same crowd which figured In past
movements in Pacific Oil took the
Stock in hand niraln T, t-
cine OH was resumed at the start thi
morning and quickly extended to
J exas and Pacific Oil nr,,i --i n-
Company, California Petroleum and
Sinclair. Houston Oil had a twrtin.
larly violent Jump. While the general
raising of oil prices yesterday and the
day before was the main cause at
work, an additional reason was found
in the Six months rsnnrt rf Ya CH
clir Consolidated published this morn
ing, fteeent bearishness on the oil
group has been founded on the. loose
generalization that, when it came to
writing off inventory Mosses, few of
these companies would be shown to be
making any monev. Sinclair ix-ao
that was especially picked out as likelv
to report a aencit. Instead the state
ment for the half year disclosed a
surplus of $2,327,000 after absorbing an
inventory loss of $6,100,000. At the
same time the Sinclair president ex
piessed the opinion that the Petroleum
industry has "turned the corner."
THE Oil. INCREASE.
vhile a 2o cents per barrel increase
in the selling price of oil does not
seem much in comparison to the de
cline of $3.50 to $4 which preceded it,
the advance is important because all
of the companies have their storagt
tanks filled with oil which they have
been carrying at $1 a barrel or less.
In consequence the increase means
marking up the value of their inven
tory by at least 25 per cent.
Cil'I.F STATES STEEL.
Gulf States Steel continued today to
discount the better condition of the
company. Word came from the head
quarters in Birmignham that it has
sieaauy speeded up operation since
August t. The average production in
August was about 40 per cent while
the September average has rnoved up
iu ou iit-v ceni. uraers ior rails are
reported to have been large and con
tinue to be 70 to 80 per cent of the
total.
CO A I, STOCKS.
Bifrns Brothers furnished the sensa
tion of the day with another seven-
point rise, making a total gain of fif
teen points since the first of the week.
This move may be a surprise to some
but it is no surprise to anybody who
accepted the information regarding the
merger with the Farrell Coal, that
this would mean an equivalent of 12
per cent for the present Burns Broth
ers stock which is now paying 10.
The merger plan was formally ratified
today and the rise in the stock to 112
was simply bringing it closer into
line with other 12 per cent issues in a
similarly favorable earnings position.
Other coal stocks such as Pittsburgn
Coal, Elk Horn and Pond Creek were
bid up but theirs was merely a sym
pathetic move.
SPECIALTY MOVES.
S. S. Kresge shares made a brand
new high for the year. The earnings
of this company have been extraordi
nary all through the period of de
pression and It is one of the few
which will break all records during
the current year. F. W. Woolworth
stock, which always moves in sym
pathy with Kresge. went along with
the latter and there was some buying
of May Department Stor anticipating
the restoration of the stock to a 10
per cent dividned basis, or else the
maintenance of the present 8 per cent
with a substantial extra dividend.
Bond Market
By STUART P. WEST.
Staff Correspondent of The New.
Copyright. 1821. byNfw. Publtmhinc Co.
New York. Sept. 29. The feature in
today's bond market was the sale in
a single block of $5,000,000 Victory
4 3-4s at $99.48. This in point of
size was a record-breaking transac
tion. The buying was credited to
government account. Other members
of the United States war group were
not much affected. They were steadv
but with very little change from the
previous day.
The bond market while not as en
thusiastic as last week, was still de
cidedly stronger than yesterday. On
the two preceding days there had been
a great deal of hesitation but this
gave way today to a renewal of the
advance in the greater part of the list.
Several new high record were made
notably in Duquesne Light 6s, Marker
Street Railway as, Northwestern Bell
Telephone 7s. St. Louis and South
western first 4s, Bush Terminal 4s and
Goodyear Ss. The last named got
across 104 for the fir&t time.
Among the rails Big Four 6s re
covered a point and there was quite
a demand for Illinois Central issues,
the 4s of 1952 and the 5 l-2s each
rising half a piont. Hudson and
Manhattan adjustments were off a frac
tion. Interborough Rapid Transit os
were strong and Brooklyn Rapid Tran
sit 7s, both the regular bonds and
the certificates of deposit, had a very
abrupt upturn. The strength of these
traction bonds, while their correspond
ing stocks were quite weak, led to
the inference that whatever plans foi
capital readjustment of these compa
nies may be in the wind are com
paratively favorable for the bonds and
not for the stocks.
FOREIGN EXCHANGE.
New York, Sept. 29. Foreign ex
change irregular.
Great Britain (par $4.86 5-8 per
puond sterling): Demand 3.71 5-8;
cables 3.72 1-2; 60-day bills on banks
3.69 7-8.
France (par 19.3 cents per franc):
Demand 7.11; cables 7.11 1-2.
Italy (par 19.3 cents per lire): De
mand 4.03; cables 4.03 1-2.
Belgium (par 19.3 cents per franc):
Demand 7.01 1-2; cables 7.02.
Germany (par 23. cents per mark):
Demand 81 1-2; cables 82.
Holland (par 40.2 cents per "guilder) :
Demand 32.00; cables 32.06.
Norway (par 26.8 cents per krone):
Demand 12.30.
Sweden (par 26.8 cents per krone):
Demand 22.20.
Denmark (par 26.8 cents per krone):
Demand 17.75.
Switzerland (par 19.3 cents per
franc): Demand 17.29.
Spain (par 19.3 cents per pesota):
Demand 13.05.
Greece par 19.3 cents per drachma):
Demand 4.82.-
Argentina (par 42.44 cents per Ar.
gentine paper dollar): Demand 32.25.
Brazil (par S2.45 cents per paper
milrels): Demand 13.26.
Montreal (par 100 cents per Canadian
dollar): 91.
NEW YORK PROVISIONS.
New York, Sept. 29. Butter steady;
firsts 36 to 43.
Kggs weaker; firsts 42 to 45.
Cheese irregular; average run 21 1-2.
Live poultry firmer; chickens 22 to
24; fowls 19 to 29.
Dresced poultry steady; western
chickens, boxes 26 to "-42.
REFORMED CHURCH
CHOOSES OFFICERS
Five elders and nine deacons Vrece
elected at a congregational meetirg
held Wednesday night at tha" Firat
Associate Reformed Presbyterian
church. The elders were J. I. Blakety.
C. P. Spratt, J. L. Kimbrell, J. T.
Wilkie, and R. H. Ramsey. The dea
cons elected to serve three years were
J. W. Allen. M. E. Walters,' F. J.
Blythe, M. N. Coleman, C. G. Sellers
and S. Li. Boyce. H. B. McGill was
chosen as deacon for two years service
and J. O. Coleman for one year's ser
vice. . ...
In addition to the. election of offi
cers, other matters of interest to the
congregationwere considered-
Features
r Tor is Tears FUmukIjU Editor
COTTON DOWN IN
EARLY TRADING
Further Irregularity and
Nervousness in the
Market.
By STUART r. WEST.
Stuff Correspondent of The News.
Copyright, 1021, by News Publishing Co.
New York, Sept. 29. The extended ad
vances of the past two or three davs
were followed by increasing rregularity
and indications of nervousness in the cot
ton market today.
Yesterday's reports of a good spot de
mand were confirmed by the increased
spot sales reported in the leading Southern
spot markets, but traders hardly knew
whether to base their operations in fu
tures on an assumption that the demand
would absorb supplies available around
the 21 cent level, or whether the larger
sales represented an increased desire to
sell and that the south would continue to
supply buyers at present prices. Liverpool
showed continued flrmnaes an flreports
from the good trade were more encourag
ing, as they indicated a larger turnover
and more willingness among buyers to
place contracts for farward delivery at
advences.
Notwithstanding these features the mar
ket here opened at a decline of 7 to 24
points and sold about 20 to 30 points
net lower right after the call. There was
heavy hedge selling and, while this was
only natural in view of yesterday's large
spot business, the orders at times reached
the market too rapidly to be absorbed.
This and realizing for over the govern
ment report caused the setbacks, but the
trade continued a good buyer, while there
was fresh commission house buying, and
whenever the pressure of offerings sub
sided prices showed a tendency to rally.
Reports have been confirmed that Jap
anese interests have taken up over 50,000
bales. This cotton will be delivered to
them on Monday and reports that they
a.re anxious to see samples as soon as pos
sible are taken to men that they may in
tend to ship out the cotton. The Continent
was reported a good buyer in the South,
and the increased clearings reported today
had a sustaining influence. The National
Ginners' Association has revised its crop
estimate making the end-September 41 in
stead of 42 as originally reported. Should
it be found that a large part of the local
stock is actually to be shipped out, it
would have a tendency to maintain near
month premiums in the local market, al
though the evident willingness of the
south to sell freely at present prices would
otherwise operate in the opposite direction.
CHARLOTTE COTTON.
Receipts today, 54 bales at
NEW YORK COTTON.
New York, Sept. 29. Cables were
again better than due, yesterday's re
ports of an active spot demand in the
south were confirmed by the increased
sales officially reported, and there were
reiterated reports of an Increased de
mand in the domestic goods market.
These features were offset by heavy
realizing and southern hedge selling at
the opening of the market here, how
ever, and first prices were 7 to 24
points lower with December selling at
20.75 or 67 points belov the high level
of yesterday. Trade interests were
good buyers at this decline and there
was fresh commission house buying
.vhich gave the market a steady under
tone and caused rallies -ai 15 or 20
points from the lowest shortly after
the call. Southern authority which re
ently placed the condition of the crop
at 42 has reduced its figures to 41 and
private cables said that bullish crop
reports were promoting a continued
active trade demand in Liverpool.
Southern hedge selling continue-
later and at tiuaes proved heavier than
the market could absorb without set
backs. There was also some local
selling on expectations of a reaction
before the bureau, but trading became
less active around midday and the
market held fairly steady around 20.76
for December or about 20 to 30 poinst
below last night's closing. The largc.
clearances reported from Galveston had
a sustaining influence, and there were
also rumors that considerable cotton
taken up on October contracts would
be shipped out of the local stock.
Hedge offerings became very heavy
and they weighed against the market
sufficiently to force prices 22 to 30
points under yesterday's close, Decem
ber falling to 20.50 in the trading up
to noon. At the middle of the day
the tone was steadier, and prices
were back to within 2 to 7 points of
yesterdays finals on the larger export
movement, all United States ports
clearing 52,596 bales against 7,402 this
day last year.
Another ot the end September crop
reports puDiisneu early -in tne arternoon
made the condition 40 and a canvas ol
New York exchange members showed
an average expectation that the gov
ernment report next week will be 40.4
These figures failed to stimulate any
fresh buying, however, and the mar
ket was quiet during the middle of the
afternoon with active months about o0
to 40 points net lower under scatter
ing liquidation.
CLOSE NEW YORK FUTURES.
New York, Sept. 29. The cotton
market closed steady.
Open High Low Closo
Oct 20.80 20.95 20.65 20.70
Dec 21.00 21.05 20.70 20.S7
Jan. 20.60 20.77 20.50 2056
March 20.08 20.35 20.08 20.2?
May 19.80 19.87 19.50 -J9.60
NEW YORK SPOT COTTON..
New York, Sept. 29. Spot cotton
quiet; middling 21.20.
NEW ORLEANS COTTON.
New Orleans, Sept. 29. After ad
vances of 4 to 8 points on the more
active months during the course of tho
first call today the cotton market fell
off under reports of freer offerings of
spots in portions of the eastern belt
and at the end of the first half hour
of business stood five to ten points
under the close of 3esterday. Decem
ber went up to 20.81 and fell back to
20.65.
A condition report of 40 per cent of
normal had little effect on the market,
and ;eports of rain in portions of
Texas and Louisiana stmiulated little
new buying. At 1:30 o'clock prices
were 12 to 25 points under the finals
ef yesterday.
CLOSE NEW ORLEANS FUTURES.
New Orleans, Sept. 29. The cotton
market closed steady at net decline
of 20 to 28 points.
Open Hign Low
Oct. 20.50 20.55 20.28
Dec 20.71 20.81 20.50
Jan 20.44 20.53 20.25
March 19.99 20.05 18.75
Close
20.31
20.55
20.27
19.77
May 19.54 19.64 19.34
19.40
NEW ORLEANS SPOT COTTON.
New Orleans, Sept. 29. Spot cotton
steady and unchanged; sales on the
spot 2,146 bales; to arrive 2,223.
Low middling 18.75; middling 20.75;
good middling 21.75.
Receipts 6,527; stock 428,618.
LIVERPOOL COTTON.
Liverpool, Sept. 29. Cotton:
a-ood demand: prices steady,
Spot in
Good
middling 18.81; fully middling 15.71;
mlddline- 16.21: low middling- 14.11:
good ordinary 13.06; ordinary 12.31.
Sales 14,000 bals. including 6,300
American. Receipts 25,000 bales, in
cluding 10,300 American.
Futures closed barely steady. Sep
tember 15.05; October 14.75; December
14.41; January 14.24; March 13.79; May
13.39; July 13.08.
LIBERTY DOSDS.
New York, Sept. 29. 'Liberty bonds
closed:
3 l-2s, 88.26; first 4s, 90.68 bid; sec
ond 4s, 90.00; first 4 l-4s, 90.90: second
4 l-4s, 90.32; third 4 l-4s, 98.80? fourth
4 l-4s. 90.66; victory 3 3-4s, 98.46; vic
tory 4 3-4s. 99.44.
V COTTONSEEH OIL.
New York, Sept. 29. The cottonseed
oil market closed steady. Prime sum
mer yellow 9.950 bid; prime crude 7.75
to 8 00; October 9.53; November 9.50;
December 9.51; January 9.52; February
9.60; March 9.73; April 9.74; May 9.90.
Total sales 23,800.
CHICAGO POTATOES.
Chicago, Sept. 29. Potatoes weak;
Minnesota Red River 1.65 to 1.85 jwt.;
Maine cobblers 2.25 cwt.
IN THE CABOUNAS.
ef Tbo New York Gfcb.
Wall Street 1
I.
New York, Sept. 29. Rails and oils
were in demand at tne opening of to
day's stock market, and th-j general
list showed flrrnness. Chicago & North
western and Jexas & fac nc srainpri l
point each and Canadian Pacific, New.
York Central and prominent maltM-a
rose large fractions. Mexican 'Petroleum
advanced 1 3-8. fan-American 1 and
General Asphalt 12. Specialties were
represented by American Woolen,
United States Rubber first nrpfarrwl
Burns Brothers and Unitet Fruit.
The bond market gave Dromis of
another active session, especially for
victory notes, l ne nrst sale of victory
4 3-4s, consisted of a block of $750,000
at 99.46 to 99.48 as against the recent
high record of 99.50.
The closing was strong. Bonds, in
cluding government issues, were irreg
ular, victory notes showing further
accumulation. Sales approximated 500,-
uou snares.
NEW YORK STOCK LIST.
Lt 6ale.
Allis-Chalmers
American Beet Sugar . . . .
American Can .
American Car & Foundry . .
American Hide & Leather nfd
33
28
27 1-8
128 7-8
51 1-4
34 3-8
90
38 1-S
61
41 3-8
107 7-8
75 1-2
39 1-4
86 1-2
28
88 1-8
38 7-8
56 1-4
113 3-1
29
43
56
26
33 7-8
24 1-8
24 3-4
78 1-2
64 1-2
7 1-2
13 3-8
124 3-8
10 3-8
32
75
27 5-8
97
34 3-4
48 1-S
49 3-4
20 5-S
109 1-4
102 1-4
21 1-4
12
26
20 1-S
74
15 1-8
96 1-4
77 5-S
8 3-4
2 7-8
47
37 5-8
51
26 1-2
12 3-4
72 3-8
52 1-2
46
33 5-3
20
79 3-4
20 7-8
107 1-4
74 5-8
7 34
36
23
66 1-2
8 1-4
122
12 5-8
52 1-4
46
49 7-S
50 '
50 7-8
6
25 1-4
6
86 1-2
36 1-4
40 1-8
5
38
119 1-4
30 1-8
124 1-2
in
53 5-8
American International Corp..
American Locomotive
American Smelting & Ref.
American Sugar .
American Sumatra
American T. & T.
Tobacco
"
Sec. . .
American Tobacco
American Woolen . .
Anaconda Copper . . .
Atchison
Atl., Gulf & W. Indies
Baldwin Locomotive .
Baltimore & whio ..
Bethlehem St"el "B" .
Canadian Pacific . .
Central Leather . . .
Chandler Motors .
Chesapeake & Ohio
Chicago, Mil. & St. Paul
Chicago. R. I. & Pac. .
Chino Copper 24
Colorado Fuel & iron . .
Corn Products
Crucible Steel
Cuba Cane Sugar . .
Erie
General Klectric "...
General Motors
Goodrich Co
Great Northern pfd ....
Great Northern Ore ctfs .
Illinois Central
Inspiration Copper .... .
Int. Mer. Marine pfd ....
International Paper
Kennecott Copper .... ..
Louisville & Nashville ..
Maxwell Motors ,
Mexican Petroleum ....
Miami Copper
Middle States Oil
Midvale Steel
Missouri Pncfiic .... ...
New York Central
N. Y.. N. H. & Hartford
Norfolk & Western ....
Ncfrtherfi Pacific ....
Invincible Oil
Oklahoma Prod. & Ref. .
Pan American Petroluem
Pennsylvania ....
People's Gas
Pittsburgh & W. Ya
Ray Consolidated Copper
Reading
Rep iron & Steel
Royal Dutch, N. Y
Shell Trans& Trad
Southern Pacific j . .
Southern Railway
Standard Oil of N.,J., pfd .
Studebaker Corporation ....
Tennessee Copper
Texas Co. ....
Texas & Pacific ;
Tobacco Products
Transcontinental Oil
Union Pacific
U. S. Fool Products
United Retail Stores
U. S. Ind. Alcohol
U. S. Rubber .
U. S. Rubber ....
Utah Copper
Willys Overland
Pure Oil
Westinghouse Klectric . . .
Atlantic Coast Line .... .
Coca Cola ,
Gulf States Steel .... .
Seaboard Air Line
Sloss, Shef. Steel & Iron .
United Fruit .... .... r
Virginia Caro. Chem.
American Tobacco
American Zinc
Gen. Asphalt 53
( Curb Market 1
By STUART P. WEST.
Staff Correspondent of The Nevrs.
Copyrtffht. 1921. by News Publishing Co.
New York, Sept. 29. Business was
more active on the Curb Exchange
today. During the first hour trading
was on an extensive scale, and. al
though there was a falling off in the
atternoon, the total ior the session
was in excess of any previous day in
some time. t
At the start there was a demand
from commission houses which led to
upturns and uncovered stop orders
from the shorts. Offerings were scarce
during this period and the market was
nrm. Proht-taking sales from time
to time caused prices to hesitate but
did not change the tone.
International Petroleum was the fea
ture of the oils. It was unusually
active anci moved up more than a
point to the highest reached in some
time. unio oil rose snarpiy and a
gain of more than a point was re
corded in Standard Oil of Indiana.
Fractional gains occurred in Skell,
Maracaibo, Elk Basin, Merritt Oil and
Simms Petroleum. Lyons Petroleum
was firm and active, with buying by
commission houses.
NEW YORK CALL MONEY.
New York, Sept. 29. Call money
steady; high 5; low 5; ruling rate
5; closing bid 4 1-2; offered at 5; last
loan 5.
Call loans agafnst acceptances 5.
Time loans steady; 60 days, 5 1-4
to 1-2; 90 days, 5 1-4 to 1-2,- 6 month3,
5 1-2.
Prime mercantile paper a 12 to
5 3-4.
SILVER.
Sept. 29. Forei
New York,
:n bar
silver 71 3-8.
Mexican dollars 55.
YOUNG MAN IS GIVEN
SUSPENDED VERDICT
Judge James L. Webb in Superior
Court this morning suspended judg
ment in the case of Olin Taylor, a
white youth, who was convicted of two
counts of storebreaking, at Faulkner
& Shumaker's store and in Taylor's res
taurant, both near the corner of Col
lege and Fifth streets.
Georgo Gi'igg was being tried today
on a chargo of stealing cloth from the
Highland Park Manufacturing Com
pany. '
Judge Webb yesterday afternoon or
dered a verdict of not guilty rendered
in the case of Mrs. J. M. Deese, an
elderly white woman charged with re
ceiving stolen goods. He deemed the
evidence not sufficient to sustain the
charge.
In the case of three men, John
Barnes, Jim Station and Alfred Cole
man, Barnes was found guilty of trans
porting liquor and Coleman of receiv
ing liquor.
Foote Elair, negro, was declared not
guilty of larceny and stealing a pis
tol. BABE RUTH
Idol, of American baseball fans, In
"HEADIN' HOME"
BROADWAY
Thursday, Fridart Saturday.
4
' 1 . 1
CURB'
BONDS
STOCKS
Live Stock
Copyright, 1921, by New. Publishing Co.
Union Stock Yards. Chicago, Sept.
29. Sellers came out and looked for
better values for cattle -today, but even
with a comparatively light supply
there was no chance to improve the
market. In the hog -pens the trade
also was dull and prices dropped. Of
the tresh supply of sheep and lambs
for the local yards, nearly 8,000 head
were received by the big -packers.
More than 14,000 sheep and lambs were
taken out of this market for the pur
poses yesterday nearly all of these be
ing feeders.
Receipts of livestock today were
estimated at 11,000 cattle; 29,000 hogs;
lis, ooo sheep and lambs and 4,000
calves.
CATTLE: Strictly prime 891-pound
yearlings again made $11 today and
the market was steady for all steers
of choice quality. Anything selling
below $9 showed a weak tone, how
ever. Cows and heifers also were slow
at litte .change in values, but bulls
and calves were weak to lower. Pack
ers bid $10 to $11 for good vealers,
while b'sst stuff to outsiders were
placed at $12 to $12.25.
HOGS: Light hogs were off 10 to 25
cents after the first sales showed a
decline of 10 to 15 cents and demand
was slow even at the -drop. Top
butchers went at $8.35 but $8.25 took
the best hogs at the close. Rough
hogs showed least decline, few of these
going below $6.2o.
SHEEP: Lambs sold mostly steady.
Sellers looked for higher values, but
demand did not show up well. Choice
western iambs were placed at $8.50 to
5s.se wnne snipper paid $8.75 for
top natives. A small supply of aeed
muttons sold slowly.
CHICAGO LIVESTOCK.
Chicago, Sept. 29.
CATTLE: Receipts 11,000; heavy and
low grade beef steers slow; others and
yearlings steady to strong; top year
lings 11.00; bulk beef steers 6.00 to
9.50; she stock slow to lower; bulls
slow, easier; calves dull, lower: stock-
ers and feeders steady.
HOGS: Receipts 29,000; 10 to 25 low
er than yesterday's average; practical
top 8.5; top 8.35, out of line'; bulk
lights and light butchers 7.90 to 8.20;
bulk packing sows 6.35 to 6.75; pigs
lower; bulk desirable 7.00 to 7.40.
SHEEP: Receipts 18.000: all classes
generally steady; top native lambs 8.75;
ouik arouna b.uu; cuns t.ou to 5.50;
top westerns 8.50; bulk fat ewes 3.2b
to 4.00; feeder lambs mostly 6.75 to
7.25.
Grain Market J
Copyright, 1921, by News Publishing Ci.
Chicago, Sept. 29. Wheat exhibited
a . better tone. There was a much
broader demand in evidence but most
of the buying was credited to short
account and could not be classed as of
good character. The market opened
steady but broke about one cent rally
ing after the first thirty minutes and
thereafter fluctuated around previous
closing levels. September wheat ex
hibited a heavy tone most of the
session. There was little in the news
to affect the market.
Canadian weather was wet which is
injuring the quality of the new crop.
Soft winter wheat is in demand from
southern and eastern mills and prem
iums in the local market were one
cent higher. Kansas interior markets
are divided in their reports on country
offerings of wheat, one saying the farm
ers are offering nothing another saying
that consignments are increasing. Sea
board reported sales of 300,000 bushels
of Manitoba wheat to the Swiss srov-
ernment. Receipts in the local market
were larger. Sentiment favors fully
higher prices but offerings from lead
ing elevator interests and liquidation
by a leading local long,, kept buyers
supplied.
Corn was under pressure from
hedgers early while locals were in
clined to buy on the rally in wheat.
Prices made new low records early
but the pressure of cash grain on the
market was too heavy to permit a
complete recovery. Cash corn basis
was 1-4 cent to 1-2 cent lower. Ex
porters took a tew small lots or corn
on the break. Country offerings to
arrive were liberal.
Oats followed the trend of other
grains. Western houses bought. Sell
!ng was mainly for long account. Do
niestic shipping demand was slow.
Provisions were lower. October longs
liquidated lard and there was some
pressure on late months because of
the decline in hogs.
Chicago, Sept. 29. Wheat continued
to decline in price today, affected
mainly by the seeming lack of ariy
foreign demand of importance for
shipments from this country. Open
ing quotations, which varied from 3-4
cent off to 1-4 cent advance, were
followed by material setbacks all
around.
Corn and oats went downgrade with
wheat, September corn tumbling to
the lowest level since 1906. After
opening unchanged to 1-4 to 3-8 cent
off the corn market continued to
weaken.
Oats started unchanged to 3-8 cent
lower and then scored further losses.
Weakness in hogs values had a de
pressing effect on provisions.
Corn closed unsettled, 1-2 cent net
lower to 1-2 to 5-8- cent advance.
Wheat closed strong, 1 to 2 1-2 cents
net higher.
CHICAGO GRAIN AND PROVISIONS.
Chicago, Sept. 29.
Open High Low Close
WHEAT
Dec 1.2014 I.2314 1.19 '4 1.23
Mav 1.24 1.2734 1.2334 ;nv2
OATS
Dec 49 5014 49 50
May 55 55 54 55
CORN
Dec 36 36 35 36
May 40 41 40 40
PORK
Sept. . : 22.00
LARD
Oct 9.80 10.00 9. '.5 9.65
Jan 9.05 9.10 9.00 9.02
RIBS
Oct 7.10 7.10 6.85 6.85
Jan. 7.70 7.70 7.65 7.65
CHICAGO CASH GRAIN.
Chicago. Sept. 29. Wheat, No.
1.22; No. 4 hard 1.11 1-2 to 1.14
2 red
1-2.
Corn. No. 2 mixed 48 1-4 to
49 1-4;
No. 2 yellow 48 3-4 to 49 3-4.
Oats, No. 2 white 34 1-2 to
No. 3 white 32 1-2 to 34.
Rve. No. 2, nominal.
Barley 56 to 6.3.
Timothyseed 4.25 to 4.75.
Cloverseed 12.00 to 18-00
Pok nominal.
Ri-bs J. 00 to 8.00.
Lard 9.65.
35 1-2;
ROTARY OFFICERS
DISCUSS PROGRAM
Lewis Burwell and J. William Thomp
son, president and secretary, i"espec
tiveiy or tne ijiiarioxte rtoiary uiuo,
have returned from Lynchburg, Va..
where they attended a meeting of ad
club presidents and secretaries in .'he
Rotary district to which the local club
is attached. The meeting was for the
purpose of running over the program
of work to be undertaken during the
year, this program having been trans
mitted to the district officials by the
officers of the International organiza
tion. The next district ronvention to
be held in Winston-Salem In March wss
also discussed as well sm a progra-n
looking toward that event.
2,000 pair new Fall Shoes
in our Opening Sale Satur
day morning, 10:30, 209-211
West Trade street. A shoe
for every foot.
EFIRD'S EFIRD'S
RURAL OFFICERS
ARE IN DEMAND
Motorcycle Cops in County
Suggested to Break Up
Reckless Speeding.
"This county is honeycombed with
corruption," said Rural Policeman
Brown Thursday morning to a News
representative. He was corroborated
by the other rural officer, Louis John
ston who volunteered the further state
ment that it would require a great mul
tiplication of rural policemen to cope
with the situation in this county.
"Sa far as speeding is concerned,"
said the two officers, "it is impossible
for us to devote any of our time to that
form of evil. There is too much olsa
going on." Officer Johnston stated that ;
for a whole week at times he had gone
without sleep, being required to be up
all night and then to follow that all
night vigil with a full day's work in ad
dition. "As much as we seem to be accom
plishing in the way of running down
bootleggers, we are only scratching the
surface," the officers declared. "On
every highway of the county there is
some form of evil-doing going on at all
hours of " the night, either immorality
of some sort of exchange of consign
ments of whiskey. It is impossible for
us to cover all the territory that ought
to be covered. The best -we have been
to do so far as to single out a few in
stances where we were fairly sure of
our game and go after them. There Is
plenty other wrork to be done, but we
have had no opportunity to touch it."
Both officers expresed the opinion
that the county is in need of rural mo
torcycle officers and the understanding
is that steps wil be taken immediately
r to persuade the county
commissioners
to name additional rural nolicemen.
equipped with motorcycles to the end!
that the practise of reckless speeding
on the county's highways may be stop
ped.
A number of leading citizens of the
county have become greatly interested
in this phase of law-breaking out in
their neighborhoods and are said to be
prepared to urge the county board to
take action at an early date to curtail
it.
Policemen Brown and Johnston have
not as yet attempted to exercise author
ity in this direction. They explained
today that they were not so situated
that they would be able to swear
against offenders. While they have,
seen cases of reckless speeding almost
every day, they are not in position to
give testimony identifying the speeders
with the exact rate they were making.
Whereas, both admitted, if rural motor
cycle officers were on the - highways
with stop-watches and otherwise equip
ped to apprehend speeders, they would
more than make their wages out of ar
rests effected. -
MUSIC A FEATURE
AT KIWANIS MEETING
Music furnished by artists connect
ed with the Carolinas Exposition fea
tured the Kiwanis luncheon at the Se!
wyn hotel Thursday. Several of the
artists sang solos, the Carolina quar
tette sang, and a double quartette,
composed of the New York quartette
and the Carolina singers, concluded the
program. This feature of the enter
tainment was in charge of David Ovens.
Repressntatives from the Charlotte
High School attended the luncheon and
sold 28 season tickets in support of
the high school football team. Coach
Hugh Murrill told the Kiwanians that
it would reauire about VI, 200 to finance
the football season. The tickets are be
ing sold at $5 each. It is expectid
that most of the budget will be made
up by the sale of tickets.
Dr. Luther Little presented to the
Kiwanis Club a large framed picture
of the group of Kiwanians which gath
ered at Cleveland in the Summer at
the International Convention. It was
suggested that the picture be hung in
the auditorium of the new Chamber of
Commerce building, on West Fourth
street, where the Kiwanis Club and
all the other luncheon organizations of
the city will meet weekly after about
the middle of October.
Dr. J. P. Munroe won the attend
ance prize, a smoking stand. J. K.
Dye of the Banner Furniture Company
was the chairman of the day.
TEACHERS TO STAND
EXAMINATIONS HERE
State examinations for teachers for
original and renewal credits on ele
mentary, primary, grammar grade, hi-?.i
school teachers' and high school prin
cipals' certificates will be held here Oc-
tooer 11 ana iz at tne x. ivi. .
building for white teachers and at Bid
die University for negro teachers. An
nouncement to this effect is made by
J. M. Matthews, superintendent of.
county schools.
This will be the last opportunity to
secure credits on the elementary cer
tificate group plan and to secure pri
mary and grammar grade certificates
by examination. The examinations
will be taken from the textbooks used
in the sixth and seventh grades.
DR. REA COMING TO
HIS DUTIES NOV.
Dr. G. L. Rea, a native of Mecklen
burg county and for some years fn
charge of a clinic of the Fort Wayne
Health Department, will come to Char
lotte November 1 to succeed Dr. G.
M. Kihbrough as city clinician. Dr.
Kimbrougi resigned some weeks ago
and after November 1 he expected to
be engaged in United States public
health work.
Dr. Rea has written Dr. W. A. Mc
Phaul, city health officer, accepting the
position tendered him and announcing
that he is making arrangements for tak
ing up the work here as soon as Dr.
Kimbrough leaves. The new clinician
has been highly recommended, Dr. Mo
Phaul said.
HENRY FORD NOT
(Continued From Pays On?.
friends of Truman H- Newberry and
was entirely without solicitation or
knowledge upon his part."
The Democratic report declared that
"the exorbitant expenditures in this
primary campaign shocked the con-
"science or tne country ana were
- j - en0ugh
to pay aenatro vewoerry s
Senate salary for 25 years.
APPROVED BY NEWBERRY.
In part, the minority said the evi
dence showed conclusively:
"While a large part of the planning
cf the campaign may have been done
by executives of the " committee, they
were submitted to him for approval.
"Every general activity of this com
mittee and its executive officers . . .
was reported to him almost daily.
"He did know of the enormous
expenses of the plans of organization
and publicity.
"The Michigan law limited the' ex
penditure of any candidate for the
Senate to $3,750- We submit this
amount could not be. increased by the
organization of a committee to act as
his agent and this committee did
so act."
The minority deplored that Senator
Newberry had not volunteered to tes
tify and that the Republican majority
hod' rafviceu ta aall him.
GOSNELLCASE
IS NEAR CLOSE
Argument Made Today and
Jury Will Get Case This
Afternoon.
Pickens, S. C, bept. 29. All the evi
dence had been completed and the ar
guments to the jury were well under
way this morning in the trial cf Jake
Gosnell, Federal prohibition enforce
ment officer, charged with the murder
of Sheriff Hendrix Rector, of Greenville,
at a garage there July 4, 191.9.
The second trial, being held in Pick
ens county by virtue of a ?:.ange of
venue from Greenvile county, consumed
less time than the first hearing, a year
ago, which resulted in a failure of the
jury to agree on a verdicet. Presiding
Judge R. Withers Memminger, of Char
leston, expedited matters when he ruled
out as incompetent any details of the
difficulty between Rector and Gosnell
when the sheriff is alleged to have beat
up Gosnell on Main street in Greenville,
several months before the homicide. All
that was allowed to go into the testi
mony was that there had been such dif
ficulty. The defense excepted to the ex
clusion of the details.
The defense noted several objections
during the hearing upon which to base
an appeal to the Supreme Court for a
new trial in the event of conviction of
the defendant.
The testimony came to a surprising
ly quick end yesterday afternoon when
the defense rested shortly after Jake
Gosnell took the witness stand in his
own defense Court attaches and oth
er attendants had anticipated much tes
timony in rebuttal. Gosnell declared
that before the killing he had no inten
tion of shootihg Rector. He said that
after Rector got hold of his gun he saw
no other way of saving his own life
but to kill the sheriff.
Of the brilliant array . of lawyers,
numbering thirteen, who are engaged
in the trial, only four will make argu
ments for the defendant and three for
the prosecution. Judge Memminger an
nounced today that his charge would
not consume more than 20 -minutes.
MOTHER AND FATHER
IN LAW ARE INDICTED
Albany, Ga,, Sept. 29. Glen Moora
Hudson and his wife, Mrs. Benny Hud
son, were today jointly indicted for tha
murder of Mrs. Hudson's, two little sons,
Robert and Isaiah Temple, 10 and 4
years old, repsectively, at their home
two miles south of Albany on July 12,
last.
Following the discovery of . the dead
bodies of the two little boys by their
stepfather, the mother accused Hudson
of shooting the boys in anger because"
they cut a watermelon after having
been forbidden to do so. Later Hudson
accused his ivife of killing the boys- Both
have since stuck to their respective
stories of the killing.
Though Indicted jointly Is is probable
that their attorneys will ask for sepa
rate trials of the two, but which one will
be placed on tral first has not yet been
determined.
The case will not come up for trial un
til next week, it was said by Solicitor
General B. C. Gardner today.
SEWER EXTENSION
WILL NET SAVING
The city will save $10,000 annually
in the cost of hauling refuse to the in
cinerator as the result of the extension
of the sewerage system to be under
taken soon by the board of commission
ers, Public Safety Commissioner Huney
cutt estimates.
The single cost of keeping the' refuse
wagons on the move costs the city in
the neighborhood of $10,00 a year. Over
twelve hundred open closets must be
visited at least weekly and, in many
instances, twice a week. The extension
of the system will eliminate most of
these closets.
Bonds of $150,000 wil be sold by the
commissioners within a few days to
cover the cost of extending the sewer
age system. These will be retired
through assessment of property owners
receiving advantage of the lines.
REALTY TRANSFERS
The North Charlotte Realty Company
to L. E. Anderson, for $1 and other
considerations, a lot in North Charlotte.
Mrs. Martha Jane Ritch to BleeUa
Ritch, for $3,000, a lot on Jackson ave
nue. ' D. V. Mason to Arthur W. Thomas,
for $10 and other considerations, a lot
on Hamilton avenue.
Patsoy Hayden to Henry Hayden,
for $100 and other considerations, u,
lot on Stonewall street.
DEATHS FU NERALS
CAPT. II. C. TROTT.
- Salisbury, Sept. 29. The funeral ser
vices for Capt. Henry C. Trott will be
conducted at the residence this after
noon at 4 o'clock, Rev. J. E. Abernetliy
in charge. The. Masons will have
charge of the burial services.
Captain Trott died Wednesday at his
home on Bank- street, the end coming
suddenly. He had suffered a stroke of
paralysis some time ago but was able
to bo up and about. Suffering ano'h
er attack Wednesday he died before
medical aid could be secured.
Captain Trott was 59 years old an 1
a native of Rowan. In early life h
was a passenger conductor on the
Western division between Salisbury
and Asheville. Later he entered the
business world in Salisbury and for
years was successful. Four years ago
he was appointed deputy marshal under
Marshal Webb and held that position
until a change was made in the political
complexion of the office several weeks
ago.
A widow survives. Also two sisters,
Mrs. Samuel Lentz, and Miss Lou
Trott, both of Charlotte, and one broth
er, Frank.
MRS. .1. V. QUERY.
Mrs. J. V. Query, of Concord, moth
er of M. B. and J. V. Query, of Char
lotte, died at her home on Georgia ave
nue in Concord Thursday morning af
ter an illne8 of several days with pneu
monia. The funeral services will bo
held from the late residence Friday at
11 o'clock and the burial will be at
Rocky River church.
Mrs. Query was a daughter of the
late Col. and Mrs. J. C. Earnhardt, of
Pioneer Mills, and is survived by the
following brothers and sisters: Mrs.
H. B. Parks, John A., and E. C. Barn
hardt, of Concord; Mrs. R. L. C. Coch
rane, of Mooresville; T. M. Barnhardt,
and Mrs. C. A. Meisenheimer, of Char
lotte, and Mrs. L. J. Ingram, of Wades
boro. Mrs. Query died In her 68th year,
leaving nine children-as follows: Mrs.
J. W. Davis,' James E., Jacob L., and
Tom M. Query, of Harrisburg; M. B.
and J. V. Query, of Charlotte; Mrs. H.
Y. Galloway, of Derita, and Ernest and
Miss Lola Query, of Concord,' all of
whom were with her when the end
came.
SEE
"BABE RUTH
Knock a home-run in
"HEAD IN' HOMIJ"
THE BROADWAY
Thursday, Friday, Saturday.
J