Newspapers / The Charlotte Observer (Charlotte, … / Nov. 10, 1921, edition 1 / Page 17
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f THE CHARLOTTE NEWS, CHARLOTTE, N. C, THURSDAY AFTERNOON, NUVJKMJt$JtiK iu, iwsi. 17 r f - 'livestock j cotton GRAIN I RJfTARKET QUOTATIONS; FINANCIAL NEW TBS MOST COMPIFTTK MAE3CET PAfSTg MTm.TKfren tT TTTR CABQLINAfiL EDITED BY STUART P Y3T-'q 14 ?feaa Raaadal Editor- of T New York Gtoba. CURB BONDS STOCKS . VFOCK DEALINGS SHOW STRENGTH jrolil -Taking HeavyEnough tt Check the Rise in Most Directions. Features IP' -!" j ft- 1 ir i! i ; itif - 01 ' -JsJi:- . rt-i -r a : ; er ' ,"ei' u-a t ;ir to g stcr it's rai e wit! T ma". 100 tcrt its rt! Th' !he rii;- iVH j ihr . cc 1 et -. if a- ;.: ftr. : or: -n III" tc be fli: f : ft' ;tr. - ' Ml '' '' :.; J." IT !)v STUART P- WEST. ,lnti ("orrcspnuilcnt of Tlie Nerra. : . I I !' I 1.,- X ...... 1 - 1- I v -ijrrct. New York, Nov. 10. in thp stock market tod iv ; '.mother Impressive display of in view of the fact that the .irkct yest.erdy had had a veiy .'...tsiiil advance and that the trad ,.:timwnity was facing: unother Profit-taking was heavy to check trie rise in most lions nut i' means in ai. ptoCKS By STUART P. WEST Copyright, 1921, by News Publishing Co. MAKLA.XU OIL. Marland had tho th .., i , or any of the American oils. The auvance in this stock from below 20 to abwe SO has been the result of the hlSThlV favnrnhla nulnnlotiAnc ..o v nat the advance In oil nrci ha m(cl.nfor earninss. It has addtd viov,vvu a. montti to oncratintr income r at the ra.to of 1 r.n nr,n rn.jriv i ne latter sum. is Hio u.nivQUni -.50 a share on the stock. Last year it has paid none, and thpr is I FURTHER BREAK IN COTTON PRICES no assurance that icsumed in the finances, however. collent shape and kCll Tit w.l''. 1 ' :' -: B i a : ' U-v; wllicll the Tirnfpssmnril were closing; out. were rea.u withotit much of a reaction, fell off some in volume but no weakness anywhere onl n suggest that the upward i.au fuimmaiea. stock Kxrliange, tiie dents f the day were an iU in German marks, further f ,-otton, a renewal of the nvciiient in wheat and a ds-S-11 tons in unfilled orders ,oks of the Steel Corporation ;.r October 51. Apart from tins that yesterday's recovery .1 passing speculative change !,t's in ma.'ks was interest ,. wini the judgment in bank- i -cardins: reports of a loan jsy i'rom outside sources. This ratea tnts morning but t, stop the tall of German . idence of the skepticism was oeingr received : of the cotton market ,':,-;!; that even yesterday's urop bad not fully regis- - ;ock which the cotton trade ,i at the sinning report and -arc that the crop shortage , -n onsiderably exaggesated .;.- :(-. se in steel tonnage halted ei" the steel stocks. This : i-,ave quite w-.fl happened any : : -ere was notning surprising in : ;.;rfs. They id not imply that ;.: :s of trade improvements have overdone but Eimply that ship s trom trie mnis last month were '";! deal heavier. t!c stock market there was the ;':..r spectacle of new favorites '.-is; to tne front as realizing weat i previous leaders. The equip- s reached new high prices but the ? were inclined to fall back from start. Realizing sales were also j Mexican Petroleum and several American oils. Stocks which done little on prec-eding days Hi ken up and became quite z amongst tnem tne coppers. Am i i l.inseed common and preferred, American Cotton Oils and other . . of fertilizer companies and :-:.'i OiK The coppers were re '.'A:S somewhat tardily to the ir.ee of the, red metal to 13 1-4 a pound whicn nas again made e sentiment decidedly optimistic. he hneed and fertilizer groups it siviply a case of the worst bein v:i and the stock expressing their :' that nothing newly unfavorable ..kcly to develop. : through the latter half of the trading was quiet both on stocks bonds but in both markets prices i well maintained. Some of the sensitive industrials like Baldwin : -otive. -Mexican Petroleum, Car ;oundry and Studebaker came point or so from their tops but : tvith them, selling was too small :'i movement to he characterized : j !! of a reaction. Texas Pa ''oh! and Oil was the feature - last hour on highly favorable r.n-'s of its present earnings. Along iresli downward turn in Ger :'rks. some of the other central 7aa exchanges made new low i;ut as tias ueen tne case ". 'ong. tiiere was plain evidence ' sellers of inarks and these : I precised currencies were put : - fir money into the funds of 'unions. The buying of Scan . " exchange was particularly the . t :e Knglish and French bank :::;! lor tne weeK snowed a ' "-iu ii"n in loans and circula i;;iiik or i-jngiana reserve .I'vuig from lo.al to 18.28 per : us v.-as the result of the re- f li;;nk credits involved in the November settlement. Th- . ..f all the i-andard Oil stocks a... outstanding incident on both s- - k and ctirb exchanges. The "iia : reason now appears in the "'''ry that tiiese concerns being ' v.-e'.l off for Cj-sh were able to : i Ur ge stores of crude oil at the of tho market. distribution will be near future. The are getting into ex b.v the end of the ear tne greater proportion of infcn- lur losses caused by the drop in oil yi.t-es last spring. rill ha.ve honn "'l'"' out. lvieanwnne production is lui.nmg well ahead of last vear. It an.ounts to about 6,0oo barrels of crude Uc.liv, DUC tne SKimminsr nliint Qnrl r-. iinery are not operating as yet on full 11 me. AND PAPER. in Union Bag and BAG The buylnsr nicn attracted interest tn tiii today was based upon the confidential reports resardins- tho lrgs of the pnnnnv Thn Maurice plant which lias hetn iur some timt nas recently re oxcnea. inis is because Union Raa- has orders sufficient to provide a capacity business. The producers oi commercial paper d.;a not suffer hv i'aper stock latest earn- Saint closed tne general slumn to anvthin? iiir the extent th a. t tri( iTiar.llfi'tni'Art: of newsprint did. But with the recov ery which has now occurred the divi dend outlook is distinctly imnrovod Union Bag declares its "s ner oor.t for a full year in advance. It has been selling for our of 1 inp. wil'n other 8 per cent stocks simply because of the misapprehension that its busi ness had been badly hit in the same way as that of the newsprint concerns. COPPERS STRONG. Copper shares made a better re sponse today than they had yesterday to the advance in the Conner metn! above the 13-cent evel. Anaconda. Utah and Kennecott all bettered their recent high prices. !ro did Seneca Coo per, regarding whicn mere is a growing sentiment of bullishness. Hous es recommending the copper shares are now including Seneca on their list. The big thing about this pronertv is the low cost Of production. Ona of the leading minins exDerts has stated absolutely that it can produce opper at 7 cents- a pound and thr.re- rore maKe very good money even at tne present low prices. Production wiil Dcgm-at tne senecsv mine early next year and by May will be well under way. ttight at the start Seneca should earn 54 a share even if copper re mained at 13 1-2 cents. One Estimate of Eight Mill ion Bales Made by New York House. Ry STUART P. WEST. StalT Correspondent of Th News. CovTrtght. 1921, by Ncwn Publishing Co. New York, Nov. 10. Ypsterdav's heavy ginning figures were followed bv the publication of a cron est.imn.tn todav by one authorized local authority of Mjrht million bales, excluding linters. Ginning returns had prpeared the rate for a re vision of estimates to aboe 7.500.000 bales. and the appearance of this moraine's estimate had no ery pronounced, imme diate effect, but it doubtless encouraged a continuation of the recent selllntr moe- ment and after some irregularity, prices broke well below the 17 cent level for January and all later deliveries. . The increase in estimate of the crop came at a time when buying for trade account os comparatively light. The trade was a, heay buyer during August and September, also in the earlier part of October. Evidently their Purchases at that time, were sufficient to enable them to hold off under the present unsettled state of trade and the result is that the market is not receiving much support in the way of trade buying on this decline. The market opened steady at ' an ad vance of five points on October, but gen erally 4 to 12 points lower, and a rally of 15 or 20 points toward the end of the first hour met increased offerings, with prices later making new low records for the movement. January contracts, for instance ,sold off to 16.S2, a net decline of 42 points and the lowest price touched since they sold at 21.75 early in September. This made a decline of nearly a cent and a half a pound since the publication of the ginning figure yesterday. A good part of the selling was- attributed to further liquidation of old long accounts which have been hanging on because of the more orless general expectations of ultimately higher prices. Liverpool said the decline there was due to the bearish ginning, but that there was a good undertone. CHARLOTTE COTTON. Receipts today, 35 bales at ... .18c STOCKS. particularly STANDARD OIL Standard Oil issues. those not traded In on the stock exchange, have had extremely violent advances since the turn came in the oil industry. It ha3 been said that lack of Standard Oil buying orders forced oil prices from their tops of las year to the low pr?ces of this year These companies simply used uo all the high-priced crude they had stored and then when prices got where Stan oard Oil interests thought they should be they stepped in to the market and began to fill up th-rr reserve tanks. llifc high class companies were the only ones which had any ready cash lert ana tney wer, tne ones in a position to take advantage of the low prices. Prairis Oil. one of th Standard group, is reported to have been nearly out of crude before it started into buy an I that it had filled its tanks before the first advance in crime was registered, it is now op erating on cheap o! and profits have increased m proportion. The stock of tn.Js company has advanced somethin; HKe jou points since tne turn came in the oil market. Standard Oil of Indiana pursued the same course ao the others and is refining oil bought at the low prices. 'Standard Oil of Cali- forria turned to oth-r fields and went out. and brought in producing wells. NEW YORK COTTON. New York, Nov. 10. The selling In spired by the unexpectedly large gin ning returns or yesteraay was renewed in the cotton maritet ar, tne opening tnrtav. First nrices were five points higher on October but generally tour to 12 noints lower with January sellinff off to 17.07 or into new low ground for the movement. Tnere was a good deal of covering, ho-.--ever, promoted by the extent of recent declines and a disnosition to take profits for over the holiday tomorrow. This absorbed the. earlv offerings and led to raiiies of several points after tne can, al though the tone of the market remain ed nervous and unsettled. Japanese In terests were active buyers here again Rallies of 15 to 20 points trom tne enr v low level itk. witn reneweu offerings owing to the report of a local trade authority estimating the crop at s nno.000 hales. Trade sentiment naa been prepared for figures of 7,500,000, or above bv tne ginning returns ot yes tcrrlav. hut the estimate of S, 000, 000 seemed to bring out renewed commis sion house liquidation. few uneans and Memphis were also heavy sellers on the break which extendea to for January and 16.73 for March or about 40 to 42 points net lower, shortly alter noon. After breaking to 1G.55 for January and 50 to 73 points net lower, the market steadied on covering and ru mors that private returns indicated domestic mill ...consumption of oiiOPO bales for October, compared with 48o.- 000 the previous , r?jonth. January rallied to 16.72 but the improvement was not fully mamtained and the market was quiet around 2 o clock CLOSE NEW YORK FUTURES. New barely York. steady Nov. 10. Cotton closed FOREIGN EXCHANGE, l'ork, Nov. 10. Foreign irregular. t Britain (par S4.S5 ex- 5-8 .94 bills per 1-4 on sterling: Demand bs .x.ftt 3-1. Sixty-day ::.r.i 1-1. ranee f par 19.3 cents per franc). natid t.2i: cables 7.27 1-2. a'y fpar 13.3 cents per lire): De- n 4.11 1-2: cables 4.12. ''si'ini 'par 19.3 cents per franc) ;;n! rt.sr, 1-2; cables 6.9(5. :. .anv (par 23. cents per mark) ;.n 1 36 l-4;cahles 36 3-4. i'::;md i;ir 40.2 cents per guilder ; id ::..-,.-,: cables 34.61. 26.8 cents per krone): 'way per krone) per krone) cents pa r rid 14.0.1. .! n r,nr 26.8 cents ti 10. mark par 26.8 cents i I 1 S.27. 'zetiand (par 19.3 cents per : Uf-mand 18.80. n fpar 19.3 cents per pesota) V'l 1 '-'ft fpar 19.3 cents per drachma) r:i 4.2o. atina (par 42.44 cents per Ar ' paper dollar): Deninad 2.62 in (par 32.45 cents per paper Demand 12.S real (par 100 cents per Canadian : :.'i ;-s. BONDS IN HANK LOANS. it is learned that there are more bends in stock exchnage bank loans than ever before. Tnis does not mean that there are fewer stocks in these loans. Alost of the larger firms report a steadily expanding loan account wnich can mean only that the public is in the market now whereas if has not been in for more than a year. P1I I LA DELPH I A COM PA NY. Strength in Philadelphia Compnay comes at a season when sales of natnral gas to domestic consumers naturally in crease. The recent policy of the. manage ment has been to uush the sales for do mestic purposes. It is only the industrial depression in Pittsburg which has cut down earnings from regular customers. These sales, it is now learned, are in creasing coincident witn tne trade 1m provement.e Meanwhile interests in th the management assert that continuance of the six no rcent dividend is assured. Thev assert that- Dubuesne Light and electric liirht and power subsiriary, has all the business it can handle. Open High Low Dec 17.40 17.56 16.80 Jan 17.10 '17.30 16.55 March 17.05 17.22 16.55 May . 16.90 17.00 16.46 July 16.45 16.54 16.00 NEW YORK SPOT COTTON. New York, Nov. 10. Cotton: quiet; middling 17.40. Close 16.9a 16.65 17.61 16.52 16.10 Spot Wall Street v New York, Nov. 10. Prices were mainly higher at the opening of to day's stock market, although profit taking over the approaching .holiday was looked for. Mexican Petroleum. yesterday's outstanding feature, re acted a large iracnon at the outset, but seen more than recovered its loss. Other foreign oils, as well as the prom inent domestic issues, were higher by fi actions to one point. Rails of the trans-continental and coal divisions also improved. American Car was at tempting the strong .-luipments .with Baldwin Locomotive. Inactive issues, especially those com prising the chemical and drug divis ions, were prominent in the smaller dealings of the mid-session at gains of to 2 points, lhe United States Steel October, showing in unfilled orders, influence, irregular. Govern firm, ralis easing. 775,000 shares. STOCK LIST. Sale. tonnage report for a large decrease exerted no marked The closing was ment bonds were Sales approximated NEW YORK Last Allis-Chalmers . American Beet Sugar- Can Car & l'-oudry Hide & L-arher pfd International Corp.. Locomotive Smelting &: i:ef Sugar Sumatra Tobacco . . T. & T Tobacco Sec Woolen Copper 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 .. ., 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 ctfs . . Illinois Central .... .... Ii spiration Copper Int. Mer. Marine pfd . . . International aper .. .. 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 Oklahoma Prod. A 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 .... Sinclair Con Oil .... Southern Pacific Southern THUwav Standard Oil of N J, pfd Studebaker Corporation . Tennessee Copper Texas Co Texas & Pacific Tcbacco Products . Transcontinental Oil .... Union Pacific U S Food Products United Retail Stores .. . U S Tnd Alcohol .... U -S- Rubber . . .t . . . . U S Steel .... Utah Copper : . . . Westinghouse El'ectric" . .. Willys Overland ... Pure Oil Atlantic Coast Line Coca Cola Gulf States Steel Seaboard Air Line Sloss, Shef. Steel & United Fruit Virginia Caro Chem . . . American Tobacco American Zinc Invincible Oil International Harvester General Asphalt Iron . 36 28 31 135 52 36 93 39 54 36 111 78 43 86 30 95 37 58 115 29 46 55 24 - 33 26 24 89 64 . 7 12 134 11 31 73 32 96 36 50 53 23 10S 113 23 14 25 19 72" 13 96 77 3 49 35 56 24 14 70 50 49 37 23 78 19 111 73 9 45 00 60 9 123 11 50 45 ' 4S 83 55 , 46 6 36 85 39 40 O ' 39 . 117 26 . 125 9 . 10 . 78 . 63 1-4 1-2 1-2 7-S 5-8 L Grain Market i 1 DAIL OVERLAND GIVES LUNCHEON Early Part of Day is Con sumed in Business Discussion. GRAND JURY IS STILL PR0BLING Fronenberger and Magis trate Lyd a Called in Ku Klux Investigation. 1-8 3-4 3-8 l-S 1-2 J-8 3-4 3-4 1-4 1-4 1-2 1-2 5-8 1-2 1-2 1-4 7-8 7-S 7-1 1-2 1-4 3-8 3-S 1-2 1-2 1-8 3-4 1-4 3-4 3-4 1-4 3-d 1-2 1-2 7-S 5-8 b-8 7-8 By STCABT P. WKST. Staff Correspondent o The News. Copyright, I21, by Keni PnbHxbing Co. Chicago, Nov. 10. "Wheat prices suf fered a reaction today. After five days continuous advance and a holiday tomor row many of the recent buyers believed I that profits would be acceptable at these J leveirj and the pressure of the long wheat gave the market a lower opening. Commission houses bought on the break and gave support on every weak spot in an effort to prevent the uncovering of stop-loss orders to sell. Locals were prin cipally on the short side and their cover ing later caused a rally from the low j point. The news was mixed. Kansas City forecast receipts of less than a hundred cars daily for next week. Seaboard clear ed 1,648,000 bushels of wheat and 91, 000 barrels of flour today, a goodly amount. Cash wheat premiums were high er at Minneapolis and Winnipeg. Seaboard reported export demand slow and resellers abroad below the cost of the New York market. Domestic milling demand for wheat was slow. Winnipeg reported freer offerings of wheat from the country over night. The bearish government report had a depressing effect on the market for corn. While some of the bulls gave the market support on the break, the selling was of a substantial sort, and much of it long corn, owners of which became discour aged after the report on carry-over and the crop was isued. The domestic shipping demand broadened over-night. Vessel room for 60,000 bushels of corn was char tered at 1 3-4 cents to Buffalo. Country holdings, anticipating a break, sold corn more freely t oarrive on over-night bids. There was a good industrial demand for cash corn and premiums were half to 3-4 cent higher. Oats were quiet and slightly lower. Northwest interests bought December and a big elevator interest bought May on the break. Locals sold on the break in other grains. Cash oats basis was un changed. Shipping demand slow. Proisjons were easier. Packers sold lard. Cash demand for lard is exceedingly slow. Cottonseed oil was easier with lard. 1-4 1-2 3-4 1-2 1-8 1-8 3-4 1-2 1-2 3-S 3-4 Curb 1 Co. By STUART P. WEST staff Correspondent ot Tlie News. Copyright, 1921. by News i'unmnis x- -v-tr Vnv Iff. Oi siocks weie aimiriRt the leaders in tne phanee today with and traders the Ei EVERYTHING In High Quality Building Materials curb ex commission nouses active on bctn siaes 111 xi jKnuAd Fr:-4 new in?-." v v- intsc -lo 5 standard oras were mae nuin.ca.u.v -- Oil of. Indiana but -there : was , on- ' t t -. r nfAnt-I' M U Will".. VI v. -".--. w I BiSIWllC . , Petroleum continued to reneci. i r-t rr Njn r v tJii vj 1 1 iu' -. j -Artir ann wn 1 1 r 1 1 1 liuuuau ?"rau"rr'" r&.lf and Southern Coal out r , wsi,,, ; ,1 i r. n tniipnpn new j i 1 1 1 j ill i 1 1 i'" - . . . reflecting the announcement - - anthracite breaker . had started opera ll-Il- ., .ma rf (hp v - rtrAi-A c Hiw II ill aoiub J ' ' , iic Vacuum Oil and (jhk iiu..iuv..B --- r,,5 rvn Vow nvnne 1 and sitanaaru un ui 1,.,.00-niarifv prevailed in of the inaepenuenL tho session traueis NEW ORLEANS COTTON. New Orleans, Nov. 10. While poor cp. hies caused declines erf one to hve points in the price of cotton around the opening today, the market soon did better on extensive short covering and by the end of the first half hour of business prices were lifted 17 to 2 points higher than the close of yester day. December fell off to 16.57, and reacted to. 16.80 cents a pound. 1 he hard spot attracted a great deal of liquidation of long contracts and very heavy selling appeared following a private crop, estimate of 8,000,000 bales. The market broke and as it declined new hedge celling in large volume w?.s felt. At: estimate from a private bureau thai American mills, consumed during October 533,000 bales against 485-,000 in Se;ember and 401,- 000 in October of last year caused much, comment but little buying and toward noon prices were 42 to 65 points under the last quotations of .yesterday with Decemner off to 15.97. All months broke into new low ground for the downward movement thit has been under way since the first of the lnrr.th. Realizing purchases ny shorts caused upturns from the lowest of 26 to 32 points. At 1:30 o'clocK December stood at 16.29. CLOSE NEW ORLEANS FITTPRES. Nev Orleans, Nov. 10. Cotton closed steady at decline of z to 60 points: Open Hipn Low Close Dec 16.65 16.80 15.97 16.02 Jan. 16.65 16.83 16:07 16.10 March 1 6.52 16.71 15.99 16.06 May 16.37 16.51 15.S6 15.90 July 15.97 16.08 15.41 15. IS NEW ORLEANS SPOT COTTON. New Orleans, .Nov. . 10. Spot, cottcn quiet, 75 lower; sales on the spot 301 bales; to arrive 1,250. . Low middling 14.50; middling 17.00; good middling 18.00. Receipts 4,914; stock 434,017. the latter with York York. number late m There's a profit in renting. But YOU -11 don't get it. You pay rent this month, you pay it next montlj but it doesn't get you any where. You're no nearer a home of your own. It takes a little extra work jnd planning to get a home, but it's altogether worth while. CITIZENS Lumber Company South Boulevard Phones 3472-3473 New a oils arid transfcritd "1 , -.nilC w J V - I ft 1 t1 YV IU-1I Pnce.i r-ir-, Victoria and En up biiaif.? " r .' n-l,r was K.neers Petro a.... advance: uckeny and Keystone Sell ?ia w.r i better ..y??:. :r, Coaf and Glen Alden. 15u. ?:"A,;n evnort vas frac TOt.aCCO riuuuv.- "-r. ,.l,i,,nl tlorallr higher vves- was active. - -7- ctAnV Dnrant Wng steady to fi while blViine shares were -ctive. National Mining sliare5L-w:v, ,aariar hold ntr Tin was one 01 " Hn was one . mark Saint Anthony's Gold was active, i""1""-'. V.J LIVERPOOL COTTON. Liverpolo, Nov. 10. Spot cotton prices weaK; good miuuiing lj-.ba; middling li.zi; middling lo.sa; middling 9.53; godo orcmary 7.83; nary 7. OS. Sales 5,000 bales, including American. Receipts 28,000 bales. eluding 23,900 American. Futures closed steady. November 10.98; Decmeber 10.96; January 30.91; March 10.87; May 10.82; July 10.74: September 10.48. dull; fuily low ordi- 4,609 ln- said to on the Rur- demand New York, silver 68 l-S.. Mexican dollars SILVER. Nov. 10. -Foreign bar 55 it-8. following tonnage of excellent ore naa u ev-w.w. vel.op2t- was snown in bonds ,A Xxr exchange commission wnem k,7c annarentlv V. . , ,t a the ICilUIIlK iujv-i", I r Xiuuooo -.--. -,.. tr.f nve.stnuiiH Will Sell SUBJECT TO SALE: 4 Independence Trust. 50 Durham Hosiery Mills common 160 Chadwiek-Hoskins, common ' 10 Corley preferred 15 Cabarrus 15 Dunean common ' 25 McCIaren Rubber WIIX BUY subject to 100 Cannon Mills American Trust Co 8 sale: pfd. 129. HAROLD LLOYD MNever"Weakenw Friday IMPKBIAL Saturday CONTINENTAL Securities Go. Bank Bide. 517 Commercial Nat. Phone 232 CHARLOTTE, N. C. j Bond Market 1 By STUART P. WEST, Stuff Correspondent of The An . i.onyrljrlit. lf21.by New PnMlaliin? Co. iNew lone. .ov. jo. The bond market quieted down a good deal today from the recent excited trading. There were somo auances and some decline but as a rule prices neia steady within a small frac tion of last night's finals. Liberty bonds were somewhat higher. Relgian 7 l-2s wnicn nad such a sharp advance last week, came down over a point. Zurich ana Sweden bs were both lower, the latter ort more than a point from the re cent high. iuexican Petroleum 8s were in the most active demand m the industrial section. iney reached 99, which was the best they sum ior mis year. tr 1 1 . 1 - . vennai ijcacner os, crossing as, were also at a new high for 1921 and were points higher than their bottom figure. touched soon after the dismal showing made by the company for the second quarter. Copper bonds were in demand the Chile 6s equalling their high and the is getting above 98 for the first time. Armour 4 l-2s reached a new top coin cident with the news from Chicago that four big packers had proposed a wage cut to their employes. Wilson and Com pany first 6s were also higher. The new Wilson loan for $10,125,000 running ten years, bearing interest at 1 1-2 pe rcent and convertible into the common . stock at 50 are being offered first to shareholders at 96 1-2. If not all taken up in this way the balance will be sold to the public. Of the $4,000,000 Carcoal Iron Company of America 8 per cent ten year first mortgage bonds put out this morning at 98 1-2 about $3,000,000 had been disposed of at a late hour this afternoon. Columbia Gas an dElectric 5s went up 1 1-2 point to a new high and other bonds which surpassed their best previous prices of the year were Adams Express 4, New York Electric Light, Heat and Power 4s, American Telephone and Telegraph Ss Atchison convertible 4s of 1960, Louisville 7s, Missouri, Kansas and Texas first 4s, and refunding 4s, Union Pacific con vertible 4s, New Orleans, Texas and Mexico 5s and Kansas City Southern 3s Third Avenue adjustment 5s continued thei radvance following the intimations made at yesterday's meeting that the question of paying off back interest would be taken up in the near future. SAVANNAH NAVAL' STORES. Savanah, Ga., Nov. 10.' Turpentine firm, 7 2 to 72 1-4; sales 253; receipts 213: shipments 8; stock 10,231. Rosin firm; sales l.iot); receipts 2,130; shipments 271; stock ib,07. Quite: B D E F fcr H 4.30; I 4.40; K 4.70; M 5.10; N 5.30; WG 5.40; WW 5.60. NEW YORK CALL' SIONEY. New York, Nov. 10. call money easier; high o 1-2; low-ruling rate 5 1-2; closing bid 4 i-r; offered at 5 last loan 5. Call loans against acceptances 5. Time loans steady; 60 days, 5 to i 1-4; 90 days, 5 1-4 to 1-2! six months 5 1-4 to 1-2. Primp mpi-ranilA nfl.ner 5 1-4 tn 1-2 LIBERTY BONDS. York, Nov. 10. Liberty 3 l-2s, 95.36; first 4s, 4s, 94.30 bid; first 4 1t4s, 4 l-4s, 94.76; third 4 l-4s, 4 l-4s, 94.84; victory 3 bonds 94.30 94.74 96.40 3-4s i CHICAGO POTATOES. Chicago. Nov. 10. Potatoes easier. Red RiTer Ohios 1.35 to Others unchanged- New closed: second second fourth 99 72; victory 4 3-4s, 99.72. With salesmen from 75 agencies in North Carolina and from 14 counties in South Carolina on hand, the Willys Knight and Overland dealers were the guests of W. H. Dail, Jr., and V. T. Hoppt?, of the Dail-Overland Company i of Charlotte, distributers, at a lunch I eon at the Manufacturers Club Thurs day at 1 o'clock, j Addresses were made bv several of ficials of the factory, including E. N. Culver, assistant general sales man ager, W. L. Colt, eastern district man ager, and Tom Jones, expert sales man. Especially interesting was the talk of Mr. Jones on used cars. Mr. Jones stated that the used car proposition was one of the greatest problems for the automobile man today. As the time has come when almost everybody owns a car, it is getting to the point where a used car must be taken in trade for every new car sold. This means that the dealers must in reality make two sales in order to complete one. The problem needs through Etudy and experimenting, said Mr. Jones. Before the luncheon, Mr. Jones dem onstrated an idea along this line at th3 Dail-Overland Company. He took a roadster which appeared ready for the junk pile and requested that all present examine it. Everybody agreed that it should be given to the junk man. Then Mr. Jones requested the crowd to, come back at noon and take another look at the car. In the mean time, by spending 90 cents for paint ! v.ate ana d.Jo for labor he transformed the roadster into a valuable looking car. This is the point he emnhasized tn salesmen. The thing to do when a used car is taken in, he said, is to spend a little cash and profit by the improvements. At a business session of the com pany during the morning, important Chicago, Nov. 10. Grain prices had downward tendency today in th. early part of the session, being affected by the huge supply of old and new corn shown in the government crop report. Opening quotations which ranged from 1-4 cent to 7-8 cent lower were followed by transient rallies. In the corn market gossip was current that the country had sold very freely over night, ---iter opening 3-8 t 3-4 cent lower, corn prices sagged and then rallied. Oats started 1-8 off and apparently rally. Provisions were grains. v heat closed unsettled, 7-s cents net lower. Corn closed nervous, 1 3-S cents net lower. to 1-4 to 3-8 cent was powerless to easier in line with 1 cent to to 1 1-2 3-4; No. to 36; No. 3 CHICAGO CASH GRAIN. Chicago, Nov. 10. Wheat. No. 2 hard 07 1-4. Corn, No. 2 mixed 46 yellojw 47 1-2. Oats, No. 2 white 35 1-4 white 31 1-2 to 33. Itye, nominal. Barley 53 to 54.- -Timothyseed 4.50 to 5.50. Cloverseed 12.00 to 18.50. Pork nominal. Lard 9.00 to 9.05. Ribs 6.00 to 7.75. CHICAGO GRAIN AND PROVISIONS. Chicago, No. 10. Open High Low Close WHEAT Dec 1.05 "1.06 1.04 1.05 s. May 1.10 1.11 1.091i 1.0U CORN Dec. ...... 46 47 45 45" May 52 53 51 52 OATS Dec 32 32 42 32 i May 37 37 37 37 PORK Jan. ..... ll'.Ofc LARD Jan 8.60 5.62 8.47 8.47 May 9.00 9.05 8.95 8.95 RIBS Jan 7.30 7.30 May 7.60 7.62 7.60 7.62 Asheville, Nov. 10. The Superior Court grand jury investigating activi ties of the local Ku Klux Klan on or der of Judge Walter E. Brock, sum moned Magistrate B.- L. Lyda, local justice of the peace who committed the two white women and two negroes on charges of miscegenation last week and during whose trial in higher court a denunciation of "certain mysterious influences" by attorneys for the de fense. Lyda is the second person to be sum moned before the grand jury. L. L. Fronenberger, of Charlotte, ulleged dis trict organizer for the Klan with head quarters in Asheville. was requested to appear before the jury yesterday. It is believed additional persons will be summoned Friday. Judge Brock is urgent in his demunds that the activi ties of tha Ku Klux Klan and "mys terious influences" be uncovered. Judge Brock is anxious to ascertain the identity of the five men. who brought the white women back to trial, after they- had attempted to skip bond. Magistrate Lyda claims that he does not know 'who they were. Additional summonses were issued ; this afternoon for Judge P. C. Cocke. Zeb V. Nettles, N. A. Reynolds and , Deputy Sheriff Trexler, of Polk coun ; ty, to appear before the Superior Court , gi-and jury, investigating the activi ; ties of the local Ku Klux Klan. Judge ; Cocke and Mr. Nettles were prominent j during the trial of the white women ; and negroes, as attorneys for the pri- prosecution, alleged representa tives of the Klan. Tne grand jury in vestigation starts this afternoon. DEATHS F13 NERALS agen- problems confronting individual cies were given an airinr The Dail-Overland Company was among the few companies that were retained under the recent re-organization plan of the Willys-Knight and Overland factory. At this time the company cancelled all of its dealers' contracts with the exception of two or three, the local comnanv hoi no nor. . , , , " O 1- mitteu to stand. JOHN M. EOE. Atchison, Kansas, Nov. 10. John M. Eg?, former territorial Governor of Arizona and a pioneer in three West ern States, is dead at his home in Chickasha, Okla., at the age of Sa years, according to word received here. MISSIONARY PAGEANT ST. PETER'S CHURCH A missionary pageant, which prom ises to be of extreme interest, will be presented by the young people of St. Peter's Episcopal church in the Auditorium of the parish house Thurs day night at 8 o'clock. It will be a historical presentation of the mission ary record of this church during the past century. In November, 1821, the Domestic and Foreign Missionary Society of the Episcopal chuurch was organized, and since that time every continent, ex cept Australia, has been occupied by missionaries from this society. The pageant to be given Thursday night tells in dramatic form how the cross was carried to the different mis sion fields. All territory under the United States flag, will be represented by boys and girls of St. Peter's church scnooi, whose appeals for the light of CHARLES H. SLACK. Bristol, Va.-Tenn., Nov. 10. Chirles H. Slack, founder and former editor of The Bristol Herald-Courier, died at hi home here early this morning. Mr. Slack was 59 years oid. MISS LYDE L0N. Funeral services of Miss Lydo Frances Long, 29 years old, who died at the home of her sister, Mrs. C. R. Fite, ;00 North Davidson street, Wed nesday night, were to have been hekl Thursday afternoon at 3 o'clock at Mint Hill, with Rev. C. G. Lynch offi ciating. Miss Long had been' ill several months. For the last two or three years she had been connected with the Selwyn hotel, and had made many friends in the city. She is survived by three sisters, Mrs. Fite, Mrs. John Ferris and Miss Atha. Long. One brother, Frank Long, also survives. Live Stock CopyrlsM, 1!21, by Netr Publishing: Co. Union Stock Yards. Chicago, Nov. 10. Notwithstanding the lower prices for cattle compared with the close of last week, the supply today was larger than expected, while the total for the week thus far shows an increase of more 'than 15,000 compared with the corresponding period last week. In the sheep house the market was a mtie better for killing lambs, buyers wanted feders prices. Receipts of livestock yards were estimates at but at country weaker at the 14,000 er.eep and local cattle, lambs 36,000 hogs, 13,000 and 3,000 calves. CATTLE: Lower jr:ces were again paid for nearly all grades of cattle after a slow star today. Choice yearlings at $11.75 and strictly prime corn-fed steers were i early steady but the general market showed a decline of 15 to 25 cents. Only 170 western cattle arrived and the trade was Of lit tle, account here. ?o-.vs and heifers were down 10 to 15 cents with good cows below $5. B,u:;s had a weak market while calves were another 50 cents off. Choice veasers went at $S.i5 to $9 ot -packers. HOGS: The trade was fairly active at the start,, and values were strong to 10' cents above tne average of the day before. When shippers and small killers had taken the good hogs, how ever, demand fell off and prices were lower. Prime light rftock made $7.40 to $7.50 while light butchers also made tLat prcie eany. Practical top was $7.45 with few sales above $7.40. Rough packing hogs sold at $6.25 to $6.60 with top lots of pigs at $7.75 to $9 on. a 25-cent n-xner market. SHEEP: Lambs sold strong to 15 cents higher on a small supply. Choice lambs went to Lillers at $9 to $9.25, with bulk of good stuff at $8.25 o $S.85. Feeding lambs were wreak but aged sold about steady. CHICAGO LIVESTOCK. Chicago. Nov. 10. CATTLE: Receipts 14,000; market very dull; all grades beef steers and fat she stock 15 vo 25 lower; top yearlings 11.75; chcice 1318 pound steers 10.25; choice 1500 pound bul locks 9.00; bulk beef steers 6.00 to 8.50; bulls, canners and cutters, stock ers and feeders weali; calves 50 lower; bulk vealers S.50 to S.oo. HOGS: Receipts 36,u00; mostly ten to fifteen higher than yesterday's av erage; top 7.50 for lig-nt ligrhts and one load choice medium weights; 7.40 prac tical limit; bulk 7.10 to 7.40; pigs fully 25 higher; burst desirable 7.75 to 8.00; mostly 8.00. SHEEP: Receipts 16,000; fat lambs strong to 25 higher; shepe firm; feeder lambs easier; best r-. lambs bid 9.25; bulk 9.00; good light feeder Iambs 8.05; good medium we;ynt ewes around 4.00. CLAUDE SMITH. Claude Smith, four-months-old son of Mr. and Mrs. T. G. Smith. 08 West. Twelfth street, died Thursday morning at 3:30 o'clock. Funeal services will be held at th? ' home Friday afternoon at 2:30 o'clock. Christianity is answered by volunteers 1 Interment will be in Oaklawn cemc- for evangelical, educational and modi-! tery cal work. The dates, banners and placards with which the stage is decorated, will convey at a glance the progresive march of the Christian Church during the past 100 years. The pageant will be preceded by the reading of a r.rief historical sketch en titled, "Some Results of 100 Years of Misionary Work." by. Dr. John W. "Wood, secretary of the department of missions at the Episcopal church head quarters in New York. The following characters will appear in the pageant: Missionary Spirit of the Church, Louisa Duls; China. Helen Colyer; Frontier States, Rufus Person; Japan, Sarah Southerland; Alaska, Spencer Fountain; Latin-America, Todd Lindgren; Liberia. Betty Bryan: Ha waii, Margaret Southerland Philip pines, Peggy Clarkson. The missionaries will be Lewis Bur well, Mary Thomas Davis. Teresa Coombs, Marie Osborne, Billy Wil liams, Heuling Davis, Margaret-Math-f-r, Dorothy Farnan, Joe Holt, Patsy Colyer Leo Chaquette, John Anschutz, Clayton Burwell, Llewellyn Coombs, James Coombs, Bill Southerland and Isaac Hardeman. ! FATHERS AND SONS TO BANQUET AT TRINITY Addresses, singing, games and a gen eral good time is assured from the program of the Tryon Street Metho dist church Father and Son banquet to be held at the church Friday even ing from 7 to 8:30 o'clock. Boys from 12 to 15 years old wil' be the gue.st3 of their fathers and sons. The boys of the church are ex pected to meet in the young ladies' parlor at 6:30. Featured in the program will be an address by Dr. Oarringer, principal of the city high school, on "Where There is no Vision, the People Perish." Al bert Dulin will speak on "Let's Bo Pals." Spencer Bell will talk three min utes on "What My Church Can Do For Me." William Bobbitt and Rev. H. C. Hardin also will make appro priate talks. The singing will be led by Myers and the games directed E. Henderson. POOL ROOMS BELOW STREET ARE TABOO City Commissioners took a decided stand against the location of pool rooms below the level of the street at their Thursday morning sesion when the proprietors of the Pastime pool room on West Trade street, near Church, were cited to appear and show cause why their license should not be revoked. The city officials held that a pool room is not the kind of place that should be conducted below street level and out of sight of passersby. Their opinion also held for pool rooms opera ted upstairs. The two naturalized Greeks, who said they are good American citizens, were ordered to appear before the board af ter numerous complaints had been lodged with the police department. One of the outstanding difficulties with the place, it was charged, was that it af forded opportunities for , boys under Age to go there without being- seen from the street. The" hangers-on at the place, it was also brought out, are not the best type of citizens. The commissioners granted the pro prietors the right to continue the place until December 1 when they must close the doors and get another place. They will be allowed to use their license if they secure other quarters that are acceptable to the commissioners. G. by A. D. SPEAKERS' STAND BEING DECORATED Governor Cameron Morrison, and other Armistice Day speakers will have a pronounced patriotic back ground for their speeches in the form of an immense American flag suspend ed from the arch of the courthouse, in front of which the speakers' stand has been erected. The flag is an immense one, prob ably 18 .feet in width and 30 feet long, and will covtr practically the entire arch. The speakers' stand is to . be . beau tifully decorated. "Old Glory" being displayed in every nook of the tand. The big flag will make up the back ground, other touches of bunting be ing added at various places. BIG PAGEANTRY (Continued from Papre One.) FATHER AND SON FETE. A Father and Son banquet will be given at Westminster Presbyterian church . on South Boulevard Thursday night at 7:30 o'clock: What is con sidered an interesting and entertaining program has been mapped out. NEW YORK PROVISIONS. New York, Nov. 10.--Butter barely steady.. Creamery higher than extras 45 1-2 to 46; creamery extras 45; creamers' firsts 37 to . Eggs firm. Fresh gathered exL-a firsts 63 to 67; do firsts 56 to 62; New I Jersey hennery whites extra f ancy j canaieo seiacuons i refrigerator spe cila marks fancy 3S to 39. Cheese weak; state whole milk fiat fresh specials 22 to 22 1-2; do, average run 21. Live poultry irregular; chickens 22; fowls 22 to 23. Dressed poultry irregular; western chickens 26 to 40; fowls 18 to 35 1-2. CLE5TS0N TIES CITADEL. Orangeburg, S. C, Nvo. ' 10. Final score: Clemson 7; Citadel 7. (Tie.) Lloyd; Poplin, Daniel C; Price, Walter H. Purser, William O.; Ranson, John O. Ross, Eugene S.; Scott, Kenneth; Smart, Henry J.; Smith, Morris E.; Smith, Walter R.; Squires. James W.; Stevenson, Adial E.; Stillwell, Kellar J.: Summerville, Gary L.; Sykes, James; Templeton, Robert L.; Thompson, John W.; Thorpe, Lattie R.; Tucker, Lewis F.; Vaughn, Howard R.; Wearn, John McD.; Welborn, Lonnie C; Williamson James R.; Woodside, James L.; Worley Ercel. NEGRO SOLDIERS Anderson, Edward; Ardrey, James Barksdale, Ralph; Bolden, Reddick: Cheek, Charles; Davidson, James; Doug las, Robert; Duffey, Richard; El is, Ar tie; Glenn, Verle; Grier, Sandy; Hay wood, William H.; Holley. Alonzo; Hut chison, Henry A.; JohueOn, Samuel; King, John; McPherson, Alonzo; Miller, Jaes W.: Phillips, George: Potts, Albert; Price, John W.; Reid. Will; Robinson. Luther; Rust, DcWitt: Steele, Hazel; Stewart. Charles: Swillings, Harrison; Torrence, Samuel; Whitley, James. COTTONSEED OIL. New York, Nov. 10. Cottonseed oil closed wea. Prime summer- yellow S.10 to 8.50; prime crude 6.75; Novem ber 8.15; December 8.15; January 8.31; f ODruary s.aa; jviarcn s.&4; April May 8.74; June 8.80. Total sales 39,800.- 8.58; Thrift If you want to enjoy the good things of life and to know the satisfaction of future security, start a Savings Account with this Bank. And as you add to your account regularly, the pleasure expe rienced from watching it grow will be more appreciated the larger it gets. ' We help, by paying 4 compounded quarterly. Charlotte Bank and Trust Company M. A. Turner, Pres. 214 W. R, East Trade Street. Foreman, V. Pres. J. H. Leech, Cashier M Red RiTer Ohios 1.35 to 1.65 cwt. 1 ,; ru"Se-J"' . ll . ' Others unchanged. Total sales 39,800. -' 1 m
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 10, 1921, edition 1
17
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