THE CHARLOTTE NEWS, CHARLOTTE, N, C, FRIDAY AFTERNOON, NOVEMBER 18,-1921.
19
L1YESTOC&
COTTON GRAIN
. .
FINANCIAL
SET QUOTATIONS!
EDiTEB BY STUART P WESTFor 15 tears Finaribial Editor of The New York Globe.
NEW
CURB:
BONDS
STOCKS
STOCK MARKET
ON THE UPGRADE
i
fccls Effect of the . Arms
Conference Naval Reduc-
tion Proposals.
jf
Jf-'-;
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:;:
ir:
If "
hr;
it" v
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f or
The International
News
y.rk. Nov. 19. Proposals set
world arms limitation at
nri cave a "bull" tone to the
arkPt and business world this
.T-iiice Elbert H. Gary, head
Tnifd States Steel Corpora
r - tuely blasted the shallow
v'nn that cessation of big bat--uiliinpr
might injure the steel
Experts had floured that
-in? per cent or American
tiuti find? its way into war
ceneral belief expressed
p-odwers is that armament
ry chopping taxes. will
i'.-tius of i emmercial life,
".eion of- American railway
i I., lower freight rates on
i'.ivmers ten per cent, saving
"ftft.oort and moving for
'ico cuts for employes were
.- week's important develop-v!-,
nicluded a strike bv
York garment workers
reduction or piece work.
v
y-r-
'. - - i
'."''
tr.s
u;- c;
if
1 nv
si
r.l
r.d
:ed
'
i:t,
ing
ilth
to
: or
in
the
feet
t or
t In
with
into
asses
, and
s as-
OTAL
:fits
7.31
0.91
0.03
37.-5
55.3'
7. 24
64. 6f
24.8
293
124.55
!54 75
33 9.79
3? 3
54.21
730 1
221.39
MONl'.Y KATKS.
. ranging' from 4 1-2 to
.- c",i n call loans, indicated
-, -'i:.in;? f idle deposits in
, i report old loans are
; ;-,riat p I. With gold Irom
-irinc in weekly, there are
ip.-e::s available for new flnanc
rh ? was indicated this week
-r-.bscription of $50,000,000 of
re": bonds issued by the New
Vpbone Company.
hvi'am again is getting on
v.-e:s::i trade better than the
?;ares. Britain's exports grow
sr imports lessen. There was
:-85a last month of $21,000,000
0-A
f.-r
ir.
t:."
't a
.
t- s :T".ir,try's foreign trade and
r...5 ,Vprt up $4,000,000. A re
r ;nn Britain s condition Is the
a, :r." pound sterling to ?4, a
j-s r.pf tou-'ned in IS months.
fyokevaz? houses continued to circu
,(. ;nr3.ire that stock prices would
jld tr ! ? next year owing to re-
;rr-Ar- r' dividends in many lines
C.rr.r.oa:"--' markets snowea, as a
i-'A, a slight advance.
HAK CLEARINGS.
T.-.a uek's hank clearings for the
gr.ry were S7.733.719.94S, compared
!th J5.?i.4i ..8b3 a. year ago.
business -failures for the week
wjehout the country were 5 36 of
2?! Involved liabilities of more
ir. IMO'V Last week's failures to
ll.' 1"$4 for five business days.
T'vr.ry representative industrial
xk; t"dav averaged a quotation of
a -rare as against 76.46 a week
:0 Twenty representative railroads
jraged 7 4.5 S as against 73.51 a week
LIBERTY BONDS.
Ul--rty bonds, wtih the exception o
;fcon1 Liberty 4s and third 4 l-4s
it.:1, leckned a few cents, advanced
te oj cents per $100 bond,
4
LIVESTOCK.
! ii1 "-ten prices were the lowes
oe i .'! ut tarmers nave proposea
T!-.etin? v.t ( . hicago. a co-operative
fk;:ri; pim which they assert will
I tr.m ?:ator returns hereafter fo
Jtr;. Marketing of livestock is
Southern Stocks & Bonds
QUOTATIONS FURNISHED BY
American Trust Company, Charlotte, N. C.
A. M. Law & Company, Spartanburg, 8. C.
Hill, Clark St Company, Charlotte, N. C.
R. S. Dickson & Company, Gastonia, N. C. and Greenville, S. C
This service, which Is published every Sunday, la a co-cperative ef
fort between The News and the dealers mentioned' above to present a
consolidated list of quotations on various Southern securities. These
quotations are not guaranteed, but represent the latest available figures.
I
COTTON Ml tut, STOCK.
Bid Asked
Abbeville Cotton Mills 105 '
Acme Spinning Co 82
Aileen Mills, Inc 53
American Spinning Co 300
American Yarn & Proc Co ... 115
Anderson Cotton Mills .. 66 70
Aragon Cotton Mills .. .. ID'J 215
Arcade Cotton Mils 116
Arcadia Mills 200
Arkwright Mills 200
Arlington Cotton Mills 275
Arrow Mills, Inc 140
Augusta Factory Ca 40 42
Avondale Mills. Ala 500
Banner Mills 100
Relton Mills 87
Hlue Buckle, pfd (per 100) 17
Hrogan Mfg. Co 85 88
Brown Mfg. Co 275
Cabsrrus Cmton Mills .. .. 175 ...
Calhoun Mills - 190
Cannon Mfg. Co. . . . . 200 220
Chadwick-lloskins Co. (par
value ($25.00) 14 16i
c'hadwick-Hoskins Co. 8 per
cent pfd 100
Chesnee Mills 150 200
Chiquola Mfg. Co 130 187
Chiquola. pfd 74 76
Clara Mfg. Co 110 125
Cliffside BOO
Climax Spinning Co 125 14
Clinchfield Mfg. Co 250
Clinton Cotton Mills 200
Columbus Mfg. Co 150 167
Consolidated Textile Corp. 14 16
Converse, D. E. Co 102
Crt scent Spinning Co 84 S6
Dacotah Cotton Mills 430
Dixon Mills. Inc 102 106
Drayton Mills 47 56
Dunean Mills 79 85
Dunean Mills, pfd 83
Durham Hosiery Mills B.. 24 37
Durham Hosiery Mills, pfd 87 96
Eastern Mfg. Co 85 98
Eastslde Mfg. Co 35 65
Efird Mfg Co 107
Enterprise, Mfg. Co.. .. S5 98
Erwin Cotton JVHls 275
Erwin Cotton Mills, pfd .. 99 101
Flint Mfg. Co 180
Florence Mills' 200
Gaffney Mfg. Co 74 76
Gibson Mfg. Co 175
Glenwood Cotton Mills.. .. 100 115
Globe Tarn Mill.. .. .. 60 66
Cluck Mills s .. .. 99 106
Grace Mfg. Co 85
Gray Mfg. Co 200 300
Greenwood Cotton Mills . . 175 ...
Grendel Mills 100 130
Grier Cotton Mills 97
Hamrick Mills 120 160
Hanes Knitting Co. A.... 12 13
Hanes Knitting Co. B . . . . 12 1,3
Hanes pfd 97 101
Hartsville Mill 305.. ...
Henrietta Mills 350
Highland Park Mfg. Co 664.
Imperial Yarn Mills .. ..145 151
Jennings Cotton Mill .... 210 225
Judson Mills. 240 260
Judson, pfd 89
Lancaster Cotton Mills .... 190 240
Laurens Cotton Mills .. .. 100
Limestone Mills 120 141
Locke Cottoi Mills . . . . 105
Lola Mfg. Co.. .. 101
Majestic Mfg. Co 125 150
LITTLE TRADING
IN STOCK LIST
a . . . J
Attention centered on a
Few Specialties; General
List Dull.
Features
By 8TU1BX I. WKST
Staff Corresnondent of The IVews.
Copyright, 1021, by News Publishing r.
FEELING FOR THE TOP.
'i COTTON MARKET
GAINS STRENGTH
70
Marlboro Cotton Mills..
Marion Mfg. Co
Mills Mill
Mollohohn Mfg. Co 110
Monarch Mills, S. C 115
Myers Mills 80
Myrtle Mills ' .. .. 105
National , Yarn Mills .... 130
Newberry Cotton Mills
Norcott Mills 250
Xorris t'otton Mills 100
Oconee Mills ............ 125
Orr Cotton Mills 99
Osceola Mills . . ...
Pacolet Mfg. Co 130
Panola Cotton Mills
Parkdale Mills 115
Patterson Mfe. Co 185
Pelham Mills
Pelzer Mfg. Co. . .....
Piedmont Mfg. Co.. ..
Poe. F. W. Co . . ....
Poinsett Mills
Ranlo Mfg. Co
Kex spinning Co
Rex Spinning Co. pfd . . . .
Ilhyno-AnderBon Mills Co...
Rhyne-Houser Mfg. Co. . .
Uidge Mills, Inc
Riverside Mills ($12.50)..
Honda Cotton Mills
Rocky Face Spinnnig Co . .
Rowan Cotton Mills
Saxon Mills . . . . ........
Seminole Cotton Mills
Sibley Mfg. Co.
Spartan Mills
Sterling Spinning Co
Superior Yarn Mills ....
Toxaway Mills (par $25) ..
Tucapau Mills
Union-Buffalo Mills Co
Union-Buffalo Mills 1st pfd
Union-Buffalo 2nd pfd
Victor- Monaghan Mills
Victer-Monaghan, pfd.. ..
Victory Yarn Mills, .. ..
"Ware Shoals Mfg. Co . . . .
SVatts Mill
Watts Mill, 1st, pfd
Watts Mills. 2nd pfd.. ..
Winget Mills Co ..
Wiscassett Mills Co
Woodside Mills Co
Woodside Cotton Mills pfd
114
125
100
107
70
70
10 ii
'65
82
ioo
48
111
87
S6
28
"22
75
38
82
96
78
145
74
225
"73
OTHER QUOTATIONS.
Bid
North Carolina State 4s 86
North Carolina R.. R. stock '. . .
Carolina Power fk. Light. . 25
R. J. Reynolds Tob. A 70
R. J. Reynolds Tob. B 34
R. J. Reynolds Tob. pfd.. 103 Va,
Anderson Motor, pfd . .i. Z
Anderson Motor, common.. 1
Coca-Cola.. 37
71
136
225
116
'86
130
il6
285
102
225
155
75
140
85
120
131
'87
91
92
100
SO
7C
ny
110
76
90
98
106
55
116
96
30
220
30
77
40
86
100
85
110
79
95
76
ioi
75
Asked
87
120
28
80
36
105
4
38
By STUART P. WEST.
Staff Correspondent of The News.
Copyright, 1921, by Kew Publishing Co.
Wall Street, New York, Nov. 19.
In the stock market today as yester
day attention was centered upon a
score of individual stocks while the
rest of the list was neglected. Sugar
shares took more note than they had
yesterday of the report tnat the Cuban
commission, prior to winding up its
affairs, had made arrangements to dis
pose of quite a part of the remaining 1 the
An increasing number of traders
were basing their operations today
upon the proposition that a good part
of the list was pretty close to, if it
has not actually reached, the best
prices that may be expected for the
autumn canipagin. They point to the
fact that many of the more repre
sentative industrials have not gained
ground, on the work, that the market
has derived strength from the bidding
up or a number of specialties. Their
contention is that the specialties have
been advanced in order to cover up
realizing sales in stocks which were
leaders a fortnight ago.
Covering for Week End and
Liverpool Buying Hold
Market Steady.
surplus. The remarkable rise in Pierce
Oil attributed to the passing of control
encouraged operations ror tne rise, in
Middle States and one or two other
low-priced members of the oil group.
uetau stores was Dia up against a
short interest and the same was true
of International Paper.
While these and various other spe
cialties were advancing the general list
was comparatively dull and did not
gain ground. It looked still nror
thSn it had on previous days of the
week as if the greater part of the list
was content with its recent rise and
A'as marking time o await fresh
inspiration one way or the other from
the course of outside trade. Some
selling was attracted to Bethlehem
Steel by Charles M. Schwab's speech
at last night's dinner of the American
Iron and Steel Institute, acknowledging
that the disarmament program would
entail a heavy loss but welcoming it.
inc rest 01 me sieeis auu uie equip
ments along, with the motors and
coppers did little, in ract, snowea no
tendency to move up or down.
Foreign exchange had the dullest
dav in some , time. Neither sterlin,
nor marks varied more than a trifle
from yesterday's close.
heaviness of, the steel stocks and the
failure of Baldwin .Locomotive and
the '-other equipments to renew their
advance while the low priced oils .were
being given another whirl, was alluded
to as fitting in with this theory of
what was going on.
By STUART P. TfEST. .
StaiT Correspondent of The fierrs.
Copyright. 1921, by Nem Publtubing Co.
New York, Nov. 19. Tne cotton
n-arket held very steady during to
day's . early trading on covering for
over the week-end and a little trade
buying. Notwithstanding- the extreme
depression reported in. the British trade,
Liverpool was a good buyer here and
after opening one to two points higher,
active months sold 19 to 23 points
above last night's closing figures dur
ing the middle of the morning. This
carried January contracts up to an
proximately 16.90" 01, nearly . the best
Thel levels, of the week ahd . scattered sell-
CHINESE ENGAGE
IN PRIVATE ROW
Expert Advisers in Huff Be
cause They Were Not
Consulted.
THE LOW PRICED OILS.
The head of one of the large houses
which has been running the deal in
ing on unfavorable Veports from Ihc
goods trade appeared to be quite read
ily aosorbea. '
Week-end reviews of ; the goods
trade showed no improvement in gen
eral conditions. There can be little
doubt, that the, distribution of goods
during October was in good volume
but since the beginning of this month
there seems to have been a little
falling off in some sections" of the
country and in the primary markets
business remained very quiet durinsr
Pierce Oil dropped the remark last the past week. Some think it doubt
night that if he could get Middle
States through 15, it could be put a
good bit higher. A very large supply
was encountered this figure as . the
movement got under way this morning.
When the stock succeeded in wading
through the bull tip made good. The
strong arm methods which were being
used were very apt. But the aston
ishing success which had attended
operations for the rise in Pierce Oil
had created the highly favorable at
mosphere for similar undertakings in
other members of the junior oil group.
1 he latest story about Fierce Oil was
that the banking interests which
were credited , with having secured
control had had to take over a lot of
stocks which they did not need and
thereupon one of the big operators
had been employed to put the .price
up and prepare a market upon which
these surplus holdings could be un
loaded.
ful whether there will be any marked
revival until after inventories have
been taken at the end of the year
but stocks are not large and it seems
that many mills hae sold their pro
duction up to or through January.
NEW YORK SPOT COTTON.
New York. Nov. 19. Spot cotton
quiet; middling 17.55.
CLOSE NEW YORK. Ft'TCFES.
New; York, Nov. 13
strong:
Open
Dec 16.60
Copyright 1921 by International News
Servile
"Washington. Nov. 19. Submission
of China's now famous "ten princi
ples" created a furore among the
Chinese themselves almost as great
as it did among the Japanese, who
are vitally concerned, according to the
"Inside story" of the demands, reveal
ed to the International News Service
tonight by responsible sources.
The principles were drawn up under
the direction of Robert Lansing, for
mer Secretary of State,, and Dr. John
C. Ferguson, one of the chief Amer
ican advisers to the Pekih Government,
in collaboration with the principal
Chinese delegates Dr. Alfred Sze. Dr.
Wellington Koo and Dr. C. H. Wang,
Chief Justice of China.
Thursday night the military and na
val advisers jnd counsellors of the
delegation held an indignation meet
ing. They wanted to know why they
had not been consulted before the ten
principles were . presented and given
out to the press. . Both Dr.- Sze and
Dr. .Koo were asked, to attend and re
fused. The meeting- was presided over by
Vice-Admiral Tsai Ting-Kan and Gen-
Jan.
March
May .
July .
16.70
16.78
16.65
16.35
High
17.18
16.98
17.00
16.80
16.43
NEW
YORK STOCK LIST.
Last. Sale.
KELSEY WHEEL.
3-8
7-8
36
30
31
138
1-S
IS
94 1-4
41 1-4
56
32
117
56
1-4
95 1-4 I I
.. .. .. 37 3-8 j
. . .. .. 54 7-J
116 3-4 .
CHARLOTTE BANK STOCKS
i
COTTON.
T..
ant early in the week,
'imewhat but was higher
than last. Next week'c
eport on ginning is ex
w 7,200,000 bales ginned
14. backinsr ut nredic-
a tral this year of 8.000,000
t 1 : ; f nf limers. which, with
r-.i-rr -. r r of r,.oi)o,ooo bales from
'r ! ' vnp is expected to meet
T- rM:;'.rments. The week's ex
i tj-cvc - n ' , 7 0 bales. Manufac-tf-
'iurir? October consumed iUl -
s '-'Mint.
0
t,-i ,
1 .:'u:tiro
V:v.' lilt-
v-,
1:
GRAIN.
t"'"" ?nrally .withheld market-i-
vneat nad the visible supply
'.in.""'! bushels. Wheat and
t "xportp from the United States
(snada totalled 10,762.543 bushela.
1 rncs in wheat, corn and oats
up from two to nine cents a
it. n-p.- igf Saturday, while fu
' ''if up fractionally. Cash
"va? msrher owing to less mar
it" by farmers.
SUGAR.
1
J" Ir? raw sugar sold "at 3 13-16
i i pouni today, a new low record
AEW YORK MONEY.
York. Nov. 1?. Call money
r.'tvcen 4 and 5 1-2 per cent
s'M'-k exchange during the past
232.i
192.00
135 53
7 5. S3
10.SJ
1169.47
407.59
223.95
3.S5
200.30
V mony was easy, there being a
Jl supply of all maturities up
r ironths on both classes at 5
f)Tierc;
f and
1 paper was unchanged
Ppr cent quoted for prime
s 1-2 per cent for names
Known.
1VERYTHING
m High Quality
wilding Materials
0 Tomorrow" is
the wisp; it is
t reality. Dreams
a will '
never a
Dreams built
1 (he foundation "To-
lv" never come true. The
J11 who is going to build
Jnnrroy" will always pay
F-and he deserves to! We
r In the nreaent. tndav is
- -tiu, Duna loaay.
$1
7570.?!
I jury. Z
couw
al
he
hat fil
ted P
srest
lands
TIZENS
uvi v-uiiipany
gttth Boulevard
Tories 3472-3473
is
Bid Asked
American Trust Co.... ..137 140
Charlotte National Bank.. 200 ...
Commercial National . . . . 205
First National 235 ...
Independence Trust Co 176 1S5
Merchants & Farmers .... 300
Security .Sevings Bank . ... 100 101
Charlotte Morris Plan 108
Union National Bank .... 230 250
Financial Outlook
By STUART P. WEST.
Staff Corresnondent of The News.
Copyright, 1921. by New Publishing Co.
New York, Nov. 19. The proceeding
at the Washington conference on tne
limitation of armaments have Deen
the most important factor of the week
in the larger view of the financial
situation. The banking and investment
communities keenly appreciate the re
sults to world finance and business
which would follow tne adoption of th?
merican proposal for a ten-year naval
holiday. Judge Gary, in his speecn
before the American iron and Steel
Institute on Friday, awelt upon tax
reduction as of more' consequence tnan
- .. . . . . : 1.
any or tne otner adjustments wmi-n
he said would have 10 we maae Deiore
conditions get back to normal. ine
American disarmament program, cut
ting off as it would something like a
half billion dollars irom our annual
budget, would go far to lighten the
tax burden whlcn tne sieei cnairman
and all other business leaders declare
must be lightened.
position. They have snown the public
that they mean what they say when
they promise to pass on the benefits
of any saving on payrolls. On the
other hand, should the ten per cent
wage cut not be approved, they would
be able, tender the arrangement as
nmnnspd. in recall the rate conces
sion at the end of six months and I Pittsburg & W. Va
AllisChalmers .. .. :
American Beet Sugar
American Can
American Car & Foundry . .
American Hide & Learner pfd
American International Corp..
American Locomotive . '. . ,
American Smelting & Ref. . .
American Sugar
American Sumatra Toaacco . .
American T. & T . .
American Tobacco Zee. . . , .
Artrerlcan Woolen 79
Araconda Copper .V 44
Atchison 87
Atl.. Gulf & W. Indies 32
Baldwin Locomotive
Baltimore & Ohio ",'
Bethlehme Steel "BT
Canadian Pacific. . .
Central Leather
Chandler .Motors
Chesapeake & Ohio . .
Chicago, Mil. & St. Paul
Chicago, R. I. & Pac.
Chino Copper . . . .
Colorado Fuel & lion
Corn Products
Crucible Steel . . .... . .
Cuba Cane Sugar .'. ...
Erie . r ...
General Electric . . . .
General Motors
Goodrich Co. ..
Great Northern pfd . .
Great Northern Ore ctfs
Illinois Central . . ..
inspiration Copper... ..
Int . Mer Marine pfd v.
International Paper ... ..
Kennecott Copper .-. ..'
Louisville & Nashville
Maxwell Motors
Mexican Petroleum . .
Miami Copper
Middle States Oil . .
Midvale Steel . . . .
Missouri Pacific . .
New York Central . . ,
j N. Y., N. H. & Hartford
Norfolk & Western . .
Northern Pacific
Oklahoma Prod. & Her.
Pan American Petroleum
Pennsylvania 35 1-8
People's Gas 54 3-4
z
Kelsey Wheel directors at their.meet-
ing today took the action forecast here
at least ten days ago and put the
stock on a $6 dividend basis. This is
an initial dividend and a surplus has
been built up which can care for it
for some time. .Business or the eom-
CI.OSE NKW OBL15ANS PUTUHES,
New Orleans, Nov. 19. Cotton closed
steady, unchanged to 6 points up, net:
Open Hiarn Low Close
Dec 16.00 16.36 16.00 16.31
Jan 16.18 16.48 16.18 16.40
March 16.26 16.50 16.25 15.40
May 16.25 16.40 16.20 16.20
July 15.91 "16.01 15.85 15. S5
eral Fu Hwafig; The latter was very
indignant, according , to the- account.
He banged the table with his fist and
demanded: . ... -
"Why are we her, if we are not tc
be consulted?"
Finally, Dr. Wang, the. third princi
pal delegate, came in the meeting and
pleaded : with the Chinese advisers
against any outward manifestation of
a split at this time.
He explained that there was no
time to submit the principles' to the
Cotton closed i full delegation.
. "The whole thing happened too
quickly," he said, according to those
present. "Tuesday . night we were in
formed that the State Department
wished us to come prepared to pres
ent an outline of China's program the
next morning! We : worked all night,
and then . it was necessary to get a
little sleep and. rest before going to the
meeting. As we did not have the out
line fully prepared we hastily called in
the foreign advisers, wh assisted us."
16.90
16.70
16.77
16.62
16.13
Close
17.15
16.92
16.9.1
16.70
16.20
NEW ORLEASS SPtT COTTON.
New Orleans, Nov. 19. Spot cotton
steady and unchanged; sales on the
spot 925 bales; to arrive 500.
T.riwr miadHno 11 9s iai irt 1 in o 1ft 5A
Com- I ' . . ---.. - , aw.iv,
pany continues at close to a record siuu ""b k.ov.
rate and officials are reported to look
forward to 1922 as a bumper year.
The largest part of the KeJsey Wheel
business is done with the Ford Company.
r
Bond Market 1
32 1-2
45 1-2
59 3-S
24
33 1-4
26 5-8
25
83 1
65 7-8
8 1-2
12 1-8
134 1-2
11 3-8
31 1
74
33 3-4
97
37 7-8
56. 1-
56 7-8
24 1-S
108 1-2
113 3-4
25 1-S
16
29 5-8
19 1-8
73 5-8
13 3-S
97 1-2
78 7-8
3 3-8
51 3-6
x Grain Market J
Copyright, 1921, by New Publishing Co.
Chicago, Nov. 19. Wheat prices
were easy at the start only for a
moment, so to speak, then the market
gathered strength and at midsession,
prices showed substantial gains. Dur
ing the last hour the market suffered
a sharp reaction and the low points
of the session were . reached. After
tho early selling by foreign commis
sion houses offerings were scarce and
short covering and buying by com
mission houses was quickly, reflected
in prices. The late recession was
due largely to profit taking. The
news was inclined to be a little more
bearish. Light snows were 'shown over
the dry area of the southwest but "no
matarial honafit ie ovnontorl r
WS f0llTed Je h?fIiteHttL, derived therefrom. There was no ex-
,"iate P?rt demand in evidence and the Bel-
glan government was reported to have
sold 5,000 tons of hard winter w,heat
at public auction at $1.07 in Ant
werp. Italian government and millers
were trying to buy wheat in Rou
mania according to a Liverpool cable.
Locust damage to the Argentine crop
Foreign governments generally were bearish exportable surplus estimate for
strong. Norways 8s at 107 1-2 and Lu. pnn raa u0,
By STUART P. WEST
Staff Corresnondent of The News.
Copyright, 1921, by News Publishing: Co.
New York, Nov. 19. There was no
let up today in the active buying move
ment in the bond market. The reature
was a further brisk rise In Mexican
government issues accompanied by un
usually heavy trading. The 4s which
had closed last night at 37, reached
41, and "the 5s jumped over five poMfits.
This virtually restored all the loss
for financing the Mexican internal debt
had struck a stumbling block. Although
there was no official word with the
course of the session, it is assumed
that the difficulties were in a fair
way of being ironed out. Liberties
were firm, except for- slight weakness
in the third 4 1.4s.
CIVIL COURT TO OPEN.
Judge J. Bis Ray, who has presided
at recent terms of court here, including
the criminal court .session last week,
will convene a two-weeks' term of. civil
court Monday morning. - The calendar
for the two weeks has been . made up
for .some days. There are no cases of
exceptional importance on the calen
dar. About half a dozen divorce cases
will come up for trial.
Following the two weeks' term nt
civil court, Judge Ray will hold anoth
er week of criminal court. ,
re-establish the present schedules.
EAGER INVESTMENT DEMAND.
SLIGHT INFLUENCE ON PRICES.
Yet it has been harer to detect the
influence of the Washington gathering
upon the price movements of the
week. Bonds have Kept on moving
forward, but obviously for no reason
except the downward tendency oi
interest rates. Stocks have scarceiy
been stimulated, for the general run
of them are little cnanged at the
close of the week 'from what they
were at the beginning. Cotton started
to make some response, but in the
end speculation got nacx-to considera
tions of trade conaitions ana tne
statistics of supply and demand, de
spite influences whlcn, however im
portant in the end, seemed at the
moment too remote.
BRITISH CREDIT STRENGTHENED.
The one market which has shown
the effect of the disarmament proposals
is sterlinsr exchange. It is true that
the increase in British exports, along
with the measures taken by the British
government to encourage foreign trade.
mieht suffice to explain the return or
sterling to the four-dollar level. But
it is generally thought that the ad
vance was also contemplating the re
sult which the new naval prograin
would have in strengthening British
credit by bringing a?ional Expendi
tures within the limit where they
were certain to be covered by reve
nues and where an ample margin
would remain for gradually redeeming
the huge war debt.
There seems no reason to change
the view that, while the trade recovery
of the last three months represents a
lasting turn for the better, too much
must not be expecetd in the way of
further gain in the near future. As
the stock market has been elosely
following the course of trade, the
same comment applies to it. In other I Tobacco Products
words, stocks have had a very con
siderable rally and one with which
those who dared to be optimistic in
the blue times of last summer should
be well satisfied. It has looked to
some observers as if many stocks had I U; S. Rubber
reached a level where the buyers u. 'S. Steel
of two and three months ago were J Utah Copper
willing to take profits, but this does Westinghouse Electric
not imply that the market is not going Willys Overland
Rav Consolidated Copper .... 14 1-8
Reading .. .. .. ,. .. 72 1-4
Rep. Iron & Steel 49
Royal Dutch. N. Y 46 3-4
Shell Trans & Trad 36 3-4
Sinclair Con. Oil .. .. .. .. 23 5-8
Southern Pacific 79 7-8
Southern Railway . 20
Standard Oil of N. J.. pfd 112 3-8
Studebaker Corporation .. .. 75 3-8
Tennessee Copper .. 9 1-2
Texas Co. . . 46
Texas & Pacific 23 6-a
60 3-8
Transcontinental Oil 10 3-
Union Pacific 124
U. S. Food Products 12
United Retail Stores 53
U. S. Ind. Alcohol 39
Denmark 8s at 107 3-4 both made new
highs for the year. City of Tokyo 5s
advanced a point. City of Copenhagen
lr2s were at their nest wnen they
got to 87 1-4.
Numerous new high records occurred
n the industrial section. Among
them were bonds which have been
prominent in the dealings of the last
week, including American Telephone
and Telegraph convertible 6s which
reached their top at 109 1-4.- The
new New York Telephone Company
efunding 6s were actively traded in
as they were yesterday but they did
not exceed yesterday's highest quota
tion. Bell Telephone of Pennsylvania
went into new high ground at 108 1-4.
Rubber issues were strong. united
States Rubber 7 1t2s and 5s got to
104 1-4 and 84 3-4, respectively, for
the first time this year. American
Smelting 5s. equalled their high at So.
Sinclair Oil 7 .l-2s struck their top
at 98 3-4. International Mercantile
Marine 6s were at their best when
they sold at 89. Dnpont 7 l-2s at 103
made a new high
48
82
57
47
6
7-8
3-8
7-8
1-4
to hold and consolidate the ground I Pure Oil . . 36 0-4
erained. In the better class of divi-1 Atlantic Coast Line. 86 1-2
dpnd-Dayine issues no srreat amount of I Coca Cola 38
reaction is conceivable in. the face of
such a wonderfully eager investment
demand. The bond market went up so
fast that it got away from many
would-be buyers. These people have
accordingly been turning their atten
tion to the investment share list, and
as always happens when investment
stocks of the highest rank have in
their turn rather got out . of range,
the demand has .descended to the
class of issues known as business
men's investments that is, .stocks
which are reasonably safe, but, nevei
theless, have to be watched. The
presence of a great investment demand
ready to come in, all the more should
there be any reaction, affords a very
solid background for the entire market.
Gulf States Steel ,. ...... 38 1-4
Seaboard Air Line . . . .
Sloss, Shef. Steel & Iron .. ..
United Fruit
Virginia Caro. Chem.-y..
American Tobacco
American Zinc
Invincible Oil
International Harvester . :
General Asphalt
3 7-s
37 v
122 7-8
31 5-S
125 5-8
11
10 7-8
78
64
I LiveSt0ck 1
Copyright, 1921, by News Publishing Co.
TRADE SITUATION UNCHANGED.
The domestic trade situation remains
substantially the same as a week ago.
The demand for steer nas slowed up
and prices in some lines have .been
shaded. The copper market, however,
has shown fresh signs of creeping for
ward and skepticism as to whether
the recent advance in 0:1 prices would
last has now about disappeared. The
railway executives, t ts agreed, made
a pretty shrewd move in proposing
to reduce freight rates on farm prod
ucts ten per cent for a period of six
months, without waiting for the labor
board to act upon me latest wage
cut. This was calculated to placate
the most formidable part, of the de
mand for rate reduction that the de
mand from the farmers and likewise
to lessen the most formidable oppo
sition in congress to tne railway fund
ing bill jnamely, that from the agri
cultural bloc.
Some of the weaker roads will stand
to suffer from the loss in- revenue,
but for the most part the carriers
are not going to be hard hit by a
$55,000,000 shrinkage m net income
so widelv dsitributeci as this will be.
Meanwhile, the roads have placed
themselves in an excellent strategical
1
I
Curb Market 1
By STUART P. WERT
Staff Correspondent of The News.
Copyright, 1921, by News Publishing Co.
"Union Stock Yards, Chicago, Nov.
10 t?aw cattle were on hand today.
In the hog pens values were about
steady while little was done in the
sheep house. Feeding lambs were
able to hold well during the week
notwithstanding the fact that killing
atnrV Moseri considerably lower.
Receipts of livestock for the local
vards thrlav were estimated at 1,500
catle. 8,000 hogs," 1,000 sheep and lambs
a nri 000 oalvps.
vow vnrk. Nnv 19. On the curb I PATTT.R: Cattle trade was naraiy
exchange today prices, as a rule, were more than a nominal one today. Of the
elio-htlv hle-her. Some of the low-I rennrted 1.500 head about 400 were
priced issues were again, the leaders fot warded to big killers from other
due to tne acuvitv or traaers in tins trading points ana it vvo iunu ma.
group. National . Tin was In fair de- the final count would not cofie up to
mand with a sharp rally from its re- the first estimates. The high mark
cent low and Hard Shell. Mining was for yearlings this week was- Jl'1.50
influenced bv renorts of favorable de- asrainst $11.65 last, week, and S17.2a
vninnmeniii at th nronerties In Ari- I th corresponding: week last year,
zona. New uominion uopper aiso was i Tne-market ior steers tiuocu iu i
firm. There was active buying of the cents lower for the week, while cows
inn.r,rirH nils Inolndiner Victoria. Y I and hpiffrs dronoed 25 . to 40 cents.
calves snowea a oecniie jl o men
il for the week while canners anl
hulls were little changed.
HOGS: Hogs sold mostly steady
from the opening of traae toaay
oils including "Victoria. Y
Oil and Gas, .Tuckeny and Keystone
Ranger.
High-priced oils were irregular, in
cluding Cities Service old common,
which at one - time was several points
tnwor Small nntiirns were recorded I frhoice ISO-nound nogs soia at o.ia
in Standard Oil of Indiana, Arkansas I to $6.85 while prime lots weighing
Vntuval n i a Tnternotlnnal Pstrnldiim nnrliir 15(1 nnunds made $7. At the
Ferris .Oil, 'irfperial Oil of Canada! osose of last week, prime light butchers
and Sinims Petroleum. Southern Pe- sold at $7.30. Trading was stronger
,.i.nn . a a atAv iiaf-j. 1Y th Ha v and Drime light butcii-
rnai stocks were firmer with Far-1 ers made $7. with few packing hogs
rell Coal the leader, Acme Coal held I below $5.80, Light hogs were slow
steady. Chicago & Eastern Illinois I while other grades were strong at the
for some of the non-dividend paying SHEEP: Of the estimated 1.000 head
rails on the stock exchange, the com- I of sheep and lambs about 650 jwere Te
t.iinir in fair HamnTiH at a. cain I fv-pid bv hisr killers from other mar-
of a fraction while the preferred rosejkets and there was little left for sellers
nearlv a point. West End Chemical I here. The general market for killing
was firm. V lambs showed a decline oi to v
TSiM a.-aa rnntiniiAd mod hn vine Iri I cents from a week ago While late
bonds, the Chicago and Eastern 1111- sales of aged stock were as much as
nois 5s and New Haven 4s being $L off. Feeding lambs showed little
favored at substantial advances. change for the-weelfc.
in hogs caused buying. Pork closed;
unchanged; lard unchanged to irvo,
cents up and ribs 10 cents up. Cotton-
seed oil close five to nine cents?
higher. -
t
CHICAGO GRAIN AND PROVISIONS
Chicago, Nov. 19. j
Open ,High Low Clos
WDTr7. 1.. 1.08 1.10 1.07 1.914
Mav 1.11 1.12 1.10V. 1.10
rr, T?T
48 5s?
533t
the crop was ridiculed .d.v local ex
perts. Cash wheat premiums were
unchanged. Shipping- sales were 16,000
bushels. Market closed 3-8 cent lo
1 cent off; December $1.07 7-8 to $1.08;
May $1.10 1-8 to 1-4. ....
,-Corn market followed the trend of
wheat. Commission houses were good
buvers-during the early trading while
offerings were light. Later week-end
profit-taking caused some reaction.
Shortage of vessel room is holding
back exporters from getting corn m
this market., Domestic shipping de
mand for corn was only fair. Re
ceipts were of fair volume. The j
country sold a little corn to arrive
over night. Cash premiums were un
changed. Shipping sales were 165,000
bushels. Including 60,000 bushels to
exporters at six cents over December
c. i. f. Buffalo. Market closed .3-8
to 1-2 cent off; December 48 5-8; May
53 7-8.
Oats were quiet and prices followed
tho trend of other markets. There
was a good demand in evidence early
but locals unloaded later. Cash basis
was firm. Shipping demand was slow.
' Dec 49Vi 49 48
May ...... 54 55 53
OATS
Dec SSVi 33U 33
Mav -38 Vi S5 38
PORK
Jan. ...... ..... .....
n0""...... 8.40 S42 M-l
May 8.80 8.87 8.80
RIBS
May 7.50 7.5a 7.4d
33:
38
14.0
- ' 5;
3. 40:
8.82
7.50?
GINNING FIGURES j
To November 14 fill be received prompt
lv Mon'dav at 10 o'clock by private
'.wire. We will be glad to furnish samef
upon request. 1
BROOM AND BURKETT ;
COTTON BROKERS
219 V. Trade St. Phone 4482
Fresh high levels for 1921 were oats are too high compared with coni
established among the rails. Kansas
City Souther 5s at 82. Lake Shore 4s
of 1928 at 90 3-4, Illinois Central 4s
1953 at 76 3-4, Colorado Southern
4s at 90 1-2. Baltimore & Ohio 5s
a; 77 34 and Missouri, Kansas & Texas
second 4s at 46. Chicago & North
western 3 l-2s gained two points and
at 71 were at their best. The rest
of the rialway list in the main held
firm.
Prices in the market for Canadian
provincial bonds rose without inter
ruption this week aoove tneir nign
levels of the preceding week. All
classes of" securities joined in the ad
vance. Together with this activity
were the quick sales to tne investing
public of fresh issues. Seasoned bonds
in the Ontario & Manitoba groups
were bid up steadily. Ontario 6s or
1943, a recent offering, were quoted
at 100 3-4 bid, offered at 101 1-2. The
4 l-2s of 1925 got tip to 93 1-2 bid.
offered at 94 1-4 and the 4s of 1926
were 90 1-4 bid, as against 91 asked.
Manitoba 5s of 1526 were 93 3-4
bid, offered at 94 3-4, the new 6s of
1946 were 100 1-2 bid, :- offered at 101
and the 6s of 1925 were 97 bid, offered
at 98.
on a pound for pound basis. Sales
were 110,000 bushels. Market closed
1-8 to 1-4 cent lower; December 33 1-8;
May 38 1-8 to 3-8 to 1-8.
Provisions were dull but firm. Trade
was mainly in lard and the strength
FREE SERVICE
BROOM & BURKETT
COTTON BROKERS
219 W. Trade St..
Phones 4482. Long Distance 998
Cotton contracts executed in lots
of 10 Bales and upward. Orders
filled in two minutes over direct
private leased wire to New York.
None too large, none too small.
Why pay for telegrams when we
have a free w:re service? Balances
settled in Charlotte promptly.
SERVICE IS OUR TOLICY.
WESLEY HEIGHTS TO
BE DEVELOPED SOON
Development which has been delayed
for 10 years is in progress at Wesley
Heights, a western suburb of the city,
and the lots which have been subdivid
ed will be put on the market within
the next few days, according to the
E. C. Griffith real estate company, atc
ing as agents.on behalf of the Charlotte
Investment company, owners.
Wesley Heights was formerly known
as the Wadsworth estate and came into
prominence as a prospective residential 1 1
snhnrh nf the citv in 1910. At this I
time $30;000 was spent on the property
for improvements. In the midst of de
velopments, the P. & N. railroad com
pany demanded a right of way through
the property for their tracks. There
followed a law suit which resulted in
the railroad company condemning a
passageway for the tracks, which were
shortly laid. This law suit held ,p de
velopment on the property and eventu
ally put the proposition into the pigeon
hole. Since nothing has been under
taken in reference to its devoloprrflent
until it was decided recently to place
it on the market.
At present sidewalks are being laid
and surveys being made preparatory to
opening it up. The surveying is in
charge of C. G. Hubbel, Charlotte engi
neer. There is one school and about
half a dozen buildins on the property.
The total area, is about 300. acres .
COTTON
What is the next MOVE
?.
Are you interested in
COTTON?
Send for special information and our weekly market
letter No. 31 by Randolph Rose, Jr. ,. ,
Free for the asking
RO.SE & SON
; Cotton Stocks Grain
Direct private wires to Southern Cities
24 STONE ST. NEW YORK
Wire connection in Charlotte, N. C.
BROOM & BURKETT, s
219 1-2 W. Trade St.
. . 7 - .
A Bank Where They
Know You
The home-Ike atmosphere of congeniality which envelopes this bank
is simply a human expression of appreciation and a sincere, courteous
effort to please.
Charlotte Bank and Trust Company
' ' 214 East Trade Street.
M. A. Turner, Pres. W. R. Foreman, V. Pres. J. H. Leech, Caenler