Newspapers / The Charlotte Observer (Charlotte, … / Dec. 11, 1921, edition 1 / Page 18
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THE CHARLOTTE NEWS, CHARLOTTE, N. C, SUNDAY, DECEMBER 11, 1921. 19 LIVESTOCK jT ARKET QUOTATIONS; FINANCIAL NEW THE MOST COMPLETE MARKET PAGE EDITED BY 8TCART P WEST Fer 15 Tears PUBLISHED IN THE CAR LIN AS. Financial Editor of The New York Globe. CURB' BONDS STOCKS BANKERS EXPECT GOOD BUSINESS look tor Conditions to Speed Up for the Better After New Year. . Southern Stocks & Bonds i ii! on for The International .cvs Service. York. Dec. to. Bankers pre I ii;ay that improvement :"n , :-onditions throughout the e:. r,iii;urv will begin to "speed up" first of the New Year. Re ;o the Federal lieserve Board i.ei terenient of conditions, al- ! industry is blow in getting to r-ot. , coal situation is disappointing small demand and weak prices, ii me owners look for an upturn MiStros nes'in tauing r.iofo Y;ic copper tir.;ie. on tne otnar is stronger and the price has , ...iced to It cents a pound, Iwo f aiinvt the -.-ears tow level. vfr.i plkn Tii-'i'i.. y continues fairty plentiful. A o! tne financial situation is tne gain oi Liberty bonds, all ' the selling at. Tiew high levels. a single issue ot Liberty lory hoibs that now yields i nere was a decrease m K. S. QUOTATIONS FURNISHED BY American Trust Company, Charlotte, N. C. A. M. Law & Company, Spartanburg, 8. C. Hill, Clark & Company, Charlotte, N. C. Dickson & Company, Gastonia, N. C. and Greenville, S. This service, which is published every Sunday, Is a co-operative .ef fort between The News and the dealers mentioned above to present a consolidated list of quotations on various Southern securities. These quotations are not guaranteed, but represent the latest available figures. COTTON MI.I. STOCK. i 'lie fly r 5 11 or V rent lear eek. hi;i compared with those of i h1 'T k. '. k undre.l and ei failures yvc: c ,t i ompany my-seven com- re ported by It. against o2, last throughout t!i 5 l, r - Tit a s 4 3-1 were lea rin 'tailed ?7.0;:o.530,46S against 40 last week. ere made tnis week at where L'Vjerty bonds collateral. average price ot .0 representa- uutr.al stock v.-as . y.6u ag-amsi ;ast week ani "2.06 last year, average price or 20 representa- railroad issues was 7 1.41 against last week and 7J.22 last year -.opeim exchange rates showed improvement tliis week and th t pound sterling- rose to ?4.il highest sinoe November. 1919, Snips it dry goods to stores in the yii'ile West an South were larger V; week than during the same period M'TTOV FLUCTUATES. 1 -.!:. lish T'iO M. cotton market was alternate!; and strong this week. A Gov invent report win be issued on -.iday and traders predict that it may iv-tt a crop or nearly 000.000 bale :ai:ist 1.1,400.000 bates last season. arpount or cotton marketed or o ;;?;u into sight since August 1 i. proximately 6.000,000 bales. The ;(:-!:-; since August 1 are 2,337,6;iS T .e enter feature or price changes :': i-- eastern wholesale market was decline of 25 cents on the barrel for Western business conditions for the x: few months will depend to a large nt noon tne price or corn, owing ; :e large stocks held on farms : es from the wheat belt state mat there is a heavy snow blanket strain will suffer and a short ctoo be expected. buying public absorbed $78,- finO worth of new bonds this week y were issued by industrial tor- itions, railroads, States, cities and lie services. 1 x t .ii ,13 Dry Goods Market j By STUART P. WEST. Maf Corresnondent of The N'eiTs. C f right, IftUl, by Acwn Publishing Co. New York. Dec 10. Demand for on;.!, cloths continued good In the o,:cl market today but buyers showed a reluctance to bid up to get gooa. Most mills wHl not sell beyond De ar, less titan 8 3-4 cent9 for ",."," vard. while printers and ''' unwilling to pay 'more -v 't".:0 trade is watching the : ..:r.i.t closely and the new e maintained with possibly advance with a continued t:o:. market. On the other , ar.y reverses in raw cotton might t!ie immediate effect of curtail- :'i:i'4. Important factors are urg ;h;ti K-oods should be sold freely ' deliveries wanted without an n--e in present prices, whenever " profit is available. There is a iity business going on in cotton a as m uress gingnams oi me grades, fine shirtingB, fancy ;t3 ana some ot tne later novel in wash fabrics. Abbeville Cotton Mills . . Acme Spinning Co Aileen Mills, Inc : American Spinning Co.. . Amer. Yarn & Proc. Co ... . Anderson Cotton Mills . . Aragon Cotton .Mills . . Arcade Cotton Mils Arcadia Mills rkwricht Mills Arlington Cotton Mills.. .. Arrow Mills, Inc . . . Augusta Factory. Ga . . Avondale Mills. Ala Banner Mills . Belton Mills Blue Buckle, pfd (per 100) Brogan Mfg. Co.... . .. Brown Mfc. Co Cabarrus Cotton Mills .... Calhoun Mills Cannon Mfg. Co Chadwick-Hosklns Co. (par value ($25.00) thadwick-Hoskins Co. t per cent pfd Chesnee Mills Chiquola Mfg. Co Chiquola. pfd Clara Mfg. Co cnrrside Climax Spinning Co Clinchfleld Mfg. Co. , Clinton Cotton Mills Columbus Mfg. Co Consolidated Textile Corp. Converse, D. E. Co Crescent Spinning Co.. .. Dacotah Cotton Mills.. .. Dixon Mills. Inc . . . . . . Drayton Mills Dunean Mifls Dunean Mills, pfd Durham Hosiery Mills B.. Durham Hosiery Mills, pfd Eastern Mfg. Co Eastside Mfg. Co En rd Mfg. Co Enterprise. Mfg. Co.. Erwin Cotton Mills Erwin Cotton Mills, pfd . . Flint Mfg. Co Florence Mills ............ Gaffney Mfff. Co Gibson Mfg. Co Glenwood Cotton Mills . . Globe Yarn Mill Gluck Mills Grace Mfg. Co Gray Mfg. Co Greenwood Cotton Mills . . Grendel Mills Grier Cotton Mills Hamrick Mills Hanes Knitting Co. A.... Hanes Knitting Co. B . . Hanes pfd Hartsville Mill Henrietta Mills Highland Park Mfg. Co. .. Imperial Yarn Mills Jennings Cotton Mill Judson Mills Judsou, pfd Lancaster Cotton Mills . . Laurens Cotton Mills . . Limestone Mills Locke Cotton Mills Lola Mfg. Co.. .. .. Bid Asked 105 82 51 200 r.oo lor. 115 fi7 70 100 215 115 200 200 275 140 ! 41 500 100 65 17 Vl $5 36 576 175 1 65 200 220 ' 14 17 100 150 ISO 1S7 77 Kl 109 125 500 130 -141 250 200 165 166 14 16 105 S4 P. 7 5 4:50 10.T 111 47 55 72 75 S7 26 ::7 90 97 85 98 35 6$ 111 121 S5 98 275 99 101 ISO 200 70 78 175 1S6 100 115 60 66 99 105 S5 200 S00 175 140 87 120 150 112 13 111,3 13 99 102 305 ... 350 .. . 660 , 140 151 210 225 240 260 92 200 240 100 105 120 136 110 95 101 Co. Co. 1 Majestic Mfg. Co. . . . j Marlboro Cotton Mills Marion Mfg. Co.... IMillsMill i Moilohohn Mfg. Co. . . Monarch Mills, S. C. Myers Mills . . . . Myrtle Mills . : . . National Yarn Mills . . Newberry Cotton MilL Norcott Mills. . . . : . Norris Cotton Mills Oconee Mills On- Cotton Mills.. .. Osceola Mills, Pacolet Mfg. Co Panola Cotton Mills Par kd ale Mills.. .. Patterson Mfg Pelham Mills Pelzer Mfg. Co Piedmont Mfg. Poe, F. TV". Co Poinsett Mills Pwanlo Mfg. Co Hex Spinning Co Ilex Spinning Co. pfd.. Rhyne-Anderson Mills Co. Rhyne-Houser Mfg. C . . Ridge Mills. Inc. ...... Riverside Mills ($12.50( Ronda Cotton MUI .... 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 Union-Buffalo 2nd pfd Victor-Monoghan Mills Victor-Monaghan, pfd.. Victory Yarn Mills . . . Ware Shoals Mfg. Co. SV'atts Mill Watts Mill, 1st, pfd.. . Watts Mills, 2nd pfd . Winget Mills' Co Wiscassett Mills Co. . . Woodside Mills Co . . . Woodside Cotton Mills pfd pfd 125 150 65 69 . . . 136 225 105 115 115 - ; . . ... 81 105 130 130 150 105 115 250 2S5 105 125 . . . . - 98 225 114 120 70 J15 13 6 185 83 115 114 122 100 103 S5 100 110 91 90 92 100 72 70 7 9 10 U 110 65 70 S2 90 98 ioo 106 48 5a 108 110 S6 95 S6 95 2S 29 220 22 24 74 76 3S 40 77 SO 96 100 78 SI 145 110 79 95 74 75 230 ... 100 73 i 75 STOCK MARKET AGAIN ADVANCES No Signs ot the Much Dis cussed December Reac tion; Market Stronger. By STUART 1 WEST Staff Correponlfnt or The Xw. Copyi-laht. 1921. h-r ?ieiT ribMhin& f: New York, Dec. 10. The slock market today developed unpleasant surprises for the professional -element looking for the much discussed De cember rea.eton. there were no sign3 of such reaction and the market was stronger than on any day this week. Toward the close profit-taking sales made themselves felt to some extent but in the meantime the record had Deen set up Dy many ot the most important industrial stocks e-oinj? through their previous high of the year. To what extent exenange move ment was influenced by such broad considerations as the signing- of the four-power agreement in the Pacilic and the more reassuring- account of the Irish sentiment toward the peace treaty, was a question. It was in tne roregm exchanges that an appreciation ot political develop ments on both sides of the Atlantic was most clearly shown. What indi cations of reactions there had been in yesterday's dealings, disappeared and the advance was resumed simultan eously in sterling, francs and marks, sterling got up more than a cent be yond its previous high and franc sale's went well through their recent his-h level. I'he eeiuipmenL stocks, the steels the coppers were the leaders at start and the oil group was the ture the last half hour. There heavy short covering in Mexican troleum and Pan-American, both Features Br STUART P. WEST- Staff Correspondent of The Xew. Copyright, l21,lry Aetvs Vubliwhias Co. OTHER QUOTATIONS. North Carolina State 4s.... North Carolina R. R. stock Carolina Power & Light. . R. J. Reynolds Tob. A R. .1. Reynolds Too. u R. J. Reynolds Tob. pfd .... Anderson Motor, pfd .... Anderson Motor, common . . Coca-Cola Bid Asked no 25 2 70 SO S5 37 106 10S 3 4 14- ... SSU 3S?i ADVAXCE RESUMED. The market lost -from the openina this morning: whatever indecision had characterized it earlier .in-the week. Not only did prices move forward very generally but the trading set a lively pace. The apparent uncertainty of the movement during the previous day had made the street bearish. There had been so much talk of the early December "shake-out" that the rank and file of the professionals and office traders were thoroughly convinced that it was coming. Moreover they had been misled by the chart artists who were predicting the same thing. The result was that a considerable short interest had accumulated and it was this which was roughly handled in te market this morning. TONE OF COTTON MARKET IS GOOD Grain Market the fea- was Po of which sell ex-dividend at the close of next week. Texas Company and Pierce Oil were heavily traded in at advancinsr nrices and there was considerable strenirth in Royal Dutch, California Petroleum and one or two other oil specialties. The market for the industrial leaders con tinued strong to the close. SEW HIGH RECORDS. A dozen or more important stocks made new high records for the season. Among these was Baldwin Locomotive, which counting in the 3 1-2 per tent -dividend that came oft the price several days ago, went well through its former high of 98 1-2. Another was, Beth lehem Steel B. Baldwin and the steel shares had been particularly sin gled out by bearish tipsters as the slocks that were being "well scld." American Locomotive got up above par again and American Car and Foundry which sells ex-the-auarterly-dividend of three per cent next week was like w:se m demand. Sears-Koebuck was another stock in whrCh the shorts were badly twisted. The coppers, howeve were the leaders ot the market and in their caso there was no idea of the rise being due to short covering. It was simply .a sequel to the quiet accumulation winch has been going" on foi weeks past in the metal group, the motive of which is the confidence that 1922 will see the copper companies; nil making money again. Considerable Realizing But Buyers Took Up All the Offerings. By STUART I. WEST Staff Correspondent of Tlie Kerrs. Copyright, 1021, hy IVevrs Publishing Co. .New York. Dec. 10. There was a considerable realizing for ove: the, week-end in the cotton market this morning but tne more optimistic senti ment of the past few days found encouragement in the general news. and the selling was well taken. Houses with foreign connections were among the buyers, while there was some further broadening of commission house demand, although speculative business was held in check by such uncertainty as exists with reference to the show ing of the government's crop estimates on Monday. The opening was steady ai an advance of .three to ten points and after reactions to about last night's closing ligures the market held steady around the 17 3-4 cent level for January contracts. The week-end reviews tender! to strengthen recent impressions of an improving situation. Evidently this has not yet reached the point of general activity and the increased sales ol goods in the domestic market ap pear to have been at prices below those which manufacturers as a gen eral thing are willing to accept lot- forward deliveries. Chicago, Dec. 10. Wheat opened 3-S cent lower to 1-S cent higher on 'the Chicago Board of Trade today with a setback the first hour of from 5-8 to one cen.t Improved cash deinaud helped th f corn pit after a heavy opening 111 which prices were 1-4 to 1-2 ccent lower. Oats we-e dull ana moved sluggishly in the wake . of coru. j Provisions were unusually dull. Wheat closed 1.10 3-4; My 1.14 3-5 lo 1.14 1-2; and July 1.02 ,.;l-4 to 1.02 3-8.. Corn. December-flntsned 4S to 48 l-s'i; May 53 7-8 to 54 and July 55 3-S to 1-2. CHICAGO UYIN ASP PROVISIONS. ChicagOi-Dee. 10.--: Open - High Low. Clos WHEAT Mav 1.1 4 1.15H 1.1 Si 1.I4"S .lul'v 1.03 1.03s; 1.02U l.Ol'i CORN , M.iy ....... 5 4 5!U 53 53 Julv . 55!i 55 8 5514 55-8 OATS Mav ...... 38 . 3S-"-8 38 1 ?.SJ,i JulV 238 ' 37 !i. .38 38 PORK - " . . Jan. .. Ja.'J' LARD Jan S.77 S.SO S.77 S.S Mav 9.25 9.25 9.17 9.2; RIBS Jan ..... ' May 2 bar.1. 1.0S. 2 whit CHARLOTTE COTTON. Receipts today, 75 bales at . . . .173,: XEW YORK STOCK. Last sale. Allis-Chalmers American Beet Sugar LIST. American American American American American 2S 32 14 7 CHARLOTTE BANK STOCKS American Trust Co Charlotte National Bank.. Commercial National g. . . First National . . . Independence Trust Co. . . . Merchants & Farmers Security Sevings Bank . Charlotte Morns Plan . . . Union National Bank . . . Bid Askec" 137 140 200 ... 205 235 176 185 100 100 101 108 230 250 mbcr h X 'if'. T.i sn 0 !:'' i 0 0 d e Financial Outlook EXCnACE. lo. Foreign ex- o-S on FOREIGN N- w York. Dec :. : ce. strong. G;f.at Britain (par $4.83 5-8 r'-j'.d sterling): Demand 4.13 :ao:?s 4.14 1-S. Sixty-day bills oa--,ks 4.10 0-8. Fiance (par 19.3 cents per franc). "" 'and 7.82; cables 7.S2 1-2. I'j'ly (bar 19.3 cents per lire): Da-(-'A 4.43 1-2: cables 4.44. Belgium fpar 19.3 cents per franc): Ler;a.':d i.50; cables 7.o0 1 Germany (par 23.8 cents per mark): i-"rnar,Tj .54; cables .54 l-'Z. Hoand (par 40.2 cents per guilder; rabies 36.01. 26.8 cents per krone) 'in 1 1,. 26.8 cents per hi krone); krone): pe: lh'i u.).so; way (par rid 14.60. r,fien (par i-.d 2 4.:0. nrnark (par 25.8 cents per ni 15.35. Switzerland (par 19.3 cents :'a-'": Demand 19.38. ia' fpar 19.3 cents per pesota): '"-iii.hhI J4.3S. iiiee e (par ID. 3 cents per drachma). ' ;i"f.fi 1.1.. recitina (par 42.44 cents per At -!-, kip paper dollars): Demand 33.00. (par 32. 4o cents per paper Demand 12. 57. al (nar 100 cents per Canadian '-' 13-15. By STUART P. WEST Staff Correspondent of Th Xews. Copyright, 1S21, by Atws Publishing- to. New York, Dec. 10. 111 doiii luvcs.- mnt and speculative markets a notice able slackening of interest has oc curred this week. Trading has taiien off in volume and prices have moved about unevenly without any general tendency one way or the other. iie reasons for the Slow down in nonas are quite different from those m stocks. The bond market, after its ten-point rise of the. autumn, feels that a good deal has been done to ward measuring he fall in interest rates and the generally comfortable outlook for the money market. It is stepping, moreover, to digest the large capital flotations which investors nave been called upon to absorb. it win be recalled that these new Issues were at their record high in 1919 and that the 1920 total AVas scarcely any less. During: the first sis months or izi, however, when every nerve was being strained to prevent tne inreatenea banking crisis, would-be corporate bor rowers were discouraged quite as much as individual applicants ior creun. .-e;) ; Mont-: EVERYTHING In High Quality Building Materials tiTTl xperier 01 of all t nerieiu-f Experience is the best teachers. But ex perience charges an ex orbitant fee for services. those of us who build but once in a lifetime can hardly rjord to learn by experience. Hie Citizens Lumber Company J-tands ready to help you profit by the experience of others. CITIZENS Lumber Company South Boulevard ftones 3472-3473 A DEU'GE OF BOND ISSUES. As a result, new security offerings were comparatively smaii aunng mis period, but some idea of the magnitude of new financing from July on May be gained from the fact that, not withstanding this the total of now otations for the ten months ended October 1 was very little less than that in the two record breaking years before. It was ?3. 311. 000.000 tor lt ae against $3,oUc;,uuu,uuv xor iiu aim $3,630,000,000 for 1913. This indicates the unusual strain upon the investment resources of the country which has bten occurring in recent months. Nor there any sign of a let up. lo the never-ending series ot municipal. state, public utility and industrial pona and note issues is soon to be added aii outpour of new railroad securities. still more has it had It to do with tli negotiations going on behind the scenes for a new method of effecting German reparations payments. The rise,, within a fortnight, of nearly a cent in French franes is the moot significant movement of any. It cannot be set down to any improvement in the French foreign trade. On the con trary for the first time for nearly a year, French imports are now running ahead of exports. What it means undoubtedly is that there is no longer the same fear of a German default that there was up to a few weens ago, and the inference is a fair one that a way is about to be found for Germany to meet its January install ment in goods instead of cash, yet, at the same tmie, lightening the fisca.1 burden under which the French treas ury is staggering. O i tl 99 46 54 31 116 81 48 30 :U 95 38 58 120 30 47 56 , 20 28 64 TWO FACTORS IXFLLEME STERLING. Doubtless the rise in sterling to around $4.10, the highest in over two years, is a reflection of the German negotiations quite as much as it is of the Irish development. The threat of a German collapse, with its in evitable recail upon the rest of iiurope, has long been the most formidable uncertainty overhanging the foreign r:aikets. The suggestion that tins danger may be passing, through re mission of the obligation for Ger many io pay in gold, has been quite as -important relief from the British flrancial,. viewpoint as from that of the other Allies. Can Car & Foundrv . . Hide & Leather pfd International Corp.. Locomotive American Smelting & lief. . . American . Sugar ..... .. .. American Sumatra Tobacco . . American T. & IT. American Tobacco .Sec American Woolen . . ' Anaconda Copper . . 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 i ... Erie . . . . , . General Electric .. 138 General Motors .. .. .. .. 10 Goodrich Co .. .. 35 Great Northern pfd Great Northern Ore ctfs .;, Illinois Central .. Inspiration Copper .. Int. Mer. Marine pfd .. .. International Paper Kennecott Copper Maxwell Motors Mexican Petroleum .... . Miami Copper Middle States Oil Midvale Setel Missori Pacific . . New York Central X. V., N. II. & Hartford . Norfolk & Western Northern Pacific . . Oklahoma Prod. & Ref. .. Fan American Petroleum . Pennsylvania FeopleDs Gas ttsburgh & . va. .. . ey Consolidated Copper . Reading . . . . . . .... . Rep. Iron S- Steel Royal Dutch, N. Y. . . . Shell Trans. &. Trad. . . . Sinclair Con Oil Southern Pacific Southern Railway Standard Oil of N. J., pfd . fc-iuCebaker Corporation . , Tennessee Copper . . . . . Texas Co . Texas & Pacific . . . . . Tobacco Products .. .. . transcontinental Oil . . . Union Pacific S. Food Products I'. S. Retail Stores S. Ind. Alcohol . . . , S Rubber U. S. Steel . . Utah Copper Westinghouse Electric . . . Willys Overland .. . . '. ire Oil . . Atlantic Coast Line . . . Coca Cola Gulf States Steel Seaboard Air Line Sloss. Siief. Steel & Iron . nited Fruit Virginia Caro. Chera, . . . American Tobacco American Zinc . . . . . . . Invincible Oil International Harvester . General Asphalt- .... . 3-1 3-S 3-4 1-8 3 -.4 1-S 1.-2 1-1 1-S 3-4 7-S 3-S 5-S WICKW1RK SPENCER. The latest information regardinjy u lckAVire Spencer, aside from t he fs that the company is operating be tween SO and 90 per cent is that it will probably be Included in the com bination of independent steel compa nies before all details are settled WiCkwire Spencer is one ot tne largest independent manufacturers of wire products and this class of production will be needed, it is. said, to round out the merger so as to include all grades of steel products. The pvifi reported to have been nxed for Wick wire Spencer common m the merger talk is better than $20 a share. CLOSE NEW YORK FUTURES. New York, Dec, 10. Cotton futures closed steady. Open Hterh Low Close Dec 17.90 17.95 1 7. SO IV. 91 Jf'ii 17.75 17. SO 17.62 47.70 March 17. 6S 17.7S 17.T.2 17.70 May 17.49 17.60 1 7.43 17.50 Jul 17.04 17.13 17.00 17.00 CHICAGO CASH GPA1X Chicago. Dec. 10. V heat, Tso. 1.14 3-4 to 1.15; No. 3 hard Corn. No. 2 mixed 49; No. 49 1-2. Oats, No. 2 white, 35 3-4 to 36; No, white 33 3-4 to 31 3-4. Rye. No. 2, 84 3-1 U ST. Barlev 50 to 59. Timothyseed 5.00 to 6.10. Cloverseed 12.a0 to lS.oO, Perk nominal. Lard S.80. Ribs 7.25 to S.25. SEW YORK SPOT COTTON. New York. Dec. 10. Cotton: quiet; middling 18.20. Spot ST. LOUIS GH A IN. St. Louis. Dec. 10. Wheal. No. 2 reii 1.23 to 1.24; No. 3. 1.16 to LIS 1-2 December 1.0 1-2: May 1.12 3-1. Corn. No. 2 white 49: December 4 j-i': ittav oz J-i to ;- Oats, comber No. :;t; 3. white May o'J ::4 l-3-4. 2 to 35; Do- NEW VOKK York. Dec. between 4 1-2 market du CLOSE NEW ORLEANS New Orleans, Dec. 10. at net advance of steady pt iiits.- Dec. . Jan March Ma y . July . "Jototn closed 11 to !!S Open 16.80 16.97 17.08 116.93 16.57 "Hish 16.90 17.10 17.22 17.12 16.75 Low 16.90 16.92 17.05 16.93 16.57 Close 1 6.95 IV. 04 17.17 17.08 16.70 New ranged the stock vvek. .Time money being quoted for maturities months. Commercial papei changed at 5 lo 5 1- JIONEV. 10. Call and 6 per nione cent 01 the pas; was firm. 5 on industrial ef from 30 tier ecu! collaUtc days to '. rates were per cen.t 1-2 7-S 5-3 1-4 1 ') CHICAGO AND EASTERN ILLINOIS. Regarding the situation 111 Chicago and Eastern Illinois, one yvIio is in close touch with the reorganization said today: the outlook at tae present moment is that the under writers of the Chicago and Eastern Illinois Railroad organization will not get any securities under their contract as the owners of the stock appear to have paid up practically in full with respect to the assessment. The tvurrent quotation of the new bonds and com mon stock indicates a suostantiai pront fo! the stockholders who have par ticipated in the plan. NEW OR LEAN is SPOT COTTON. New York, Dec. 10. Spot -co! quiet and unchnaged: sales on the : 12.. bales: to arrive 100. Low middling 15.00; middling 17 good middling 13.00. Receipts 7,860; stock 399,382. ton pot .00; New York, silver 65 3-4. Mexican dollars 50. SILVER. Dec. 10. Foreign un- ba: ITWO INDICTMENTS IN THE WILCOX AFFAIR Curb Market 7 i-s r 11 1 31 9S 40 66 52 27 115 26 14 28 IS 74 IS 97 79 3 52 7-s 5-S 3-4 1-2 1-4 5-S 1-4 1-2 3-4 7-8 1-S 7-S 1-2 6-S 1-S 1-S MARKET As yet not been has been way the $16,000,000 ABSORBS ISSUES READILY the stage of saturation ha3 reached. In fact, nothing more impressive than the market took this week the Oregon Short Line bonds put out on little better man a a j-s per cent basis. But the fear Is that later on, even the enormous supply of investment capital will be overtaxed, and the check to the rising tendency in the bond market this week undoubtedly reects some such premonition. j Live Stock REACTION IN STOCKS STILL MISSING With the stock market, the case ;s different. speculative senumetn uj.a hesitated because of the extent of the rise since the first week in September and also because of the reminder that the first half of December has oiteu in the past been a period of declining prices. The reaction, however, which professional Wall Street has been pre dicting: for nearly a month now has rot yet come. If the majority of the list has stopped going up, no day has nassed without individual stocks con- - . . 1 , A J I' l. . , tinuing to pusn aneau. xncc three underlying factors in the market situation, each of. which areoras a solid ground ot support, une is 1110 investment overflow from the bond market. The secona is me most. abundant time money supply at the lowest rates in recent years. This Is enabling speculative cliques to go ahead with confidence, since not only is credit easy, but more is taueti in on aivianas man s" 411 " shape of interest at tne Danxs. me third is tne quietly cneenui leeuut; regarding the trade outlook for l&i2 the belief that in most lines it will be a year of fair business volume land moderate profits. FOREIGN' EXCHANGES SHOW RECOVERY. This week's further recovery in t'.i. fnrfden exchange has been influenced nuuouK 101 Copyright, 1921, by News Publishing Co Union Stock Yards. Chicago, Dev. 10. Livestock trade was uneven during the present week and with small killers practically out of the market big houses were called upon to supply- mere than the ordinary number of local butcher shops. This resulted in- an aovance in values on account or more competitive bidding for fresh meat products. Shippers also took a large part of the suppTy in all . branches of the trade. Receipts of livestock at the local yards today were estimated at 2,500 cattle, 6,000 hogs, 7,000 sheep and lambs and 300 calves. uaiilk: iso good cattle were in the pens today. Small lots sold her and there at values that were . steaiy compared with the general levels of the day before, but the trade was of little account. Best yearlings and fat steers closed about 25 cents higher fcr the week, while other grades show ed no marked change for the period. Cows and belters closed steady to 2 cents lower, while canners were off more. Calves were lower early in the week but the trade close about steady compared with a week ago. HOGS: Values were up to 25 cents for light hogs from the start while plainer grades also showed a gain Prime light lights made 57.75 for t. tons while best light butchers were placed at 57 to 57.50. Some of the rough packing hogs went at 55.75 to $5.90, but few told belpw 56 while good lots made " 56.70 to $6.80. The trade closed at the high point for the week with few hogs unsold. SHEEP: Some small lots, of lambs sold at $11.25 while shorn stock made $10 on a steady market. Fat lambs closed $1 above a week ago while aged muttons gained 50 to 5 eent during the period. Top lambs were auoted al $11.50 to $11.75 with best ewes at $6. by the favorable settlement of the finel I Irish question. But changed. NEW YORK New York, Dec. not dressed. Dressed poultry POULTRY. 10. Live poult steady and un-' .. n u -15 ' 711- 3' 1 - id 38 on 79 IS 1 I 2 7J 10 47 23 59 10 127 10 5: 3S 53 S3 64 49 5 3!' S8 4,1 4S ".8 126 2S 134 13 12 8S 67 1-2 1-2 3-4 7-S 1--I 7-S 1-4 1-4 1-8 3-1 3-8 3-4 7-5 3-4 1-2 1-4 j Cotton Opinion New York. Dec. 10. The "tone of the market has been steady to firm with prices a shade higher on buyn by Liverpool p.nd I'ew Orleans house:-. a?id some demand through local and Wall Street traders on the buli.sh weekly figures and favorable advic; from the dry. goods markets fully con firming reports of increased activity restricted only by firmer attitude of tellers. The Journal of Commerce says the movement of dry goods i 70 per cent of 'capacity, which exceeds rii-.y other industry in the country. One of the chief of thfc co - mandments of the speculative trad if they have that many, if that tnou shalt not pay attention to statistics as a guide in trading. At the same time, our observation in past leads us to believe tnat statistics nave a disagreeable not to say impertinent habit of eventually poking their nose into the pvice 'equation and cannot be safely relegated to the scrap heap or replaced by pure sentiment. There is a good deal of reactionary talk heard and recent buyers are inclined to se cure profits, anticipating renewed pres sure from replacing short lines, if, as now anticipated, the estimate due on Monday crowds close on eight million or, as some think possible, even ex ceeds that figure. We do not hear of any selling, however, that suggests pitssure from the actual but do under stand that mills as a rule are running now much below capacity with indica tions that they will presently find a market for any accumulated stocks, whatever those may amount to; If the market breaks on Monday, ve doubt if it goes far ana oeiicve a good opportunity will be provided to pick up some March and May cotton. POST AND FLAGG. C- fell to- By STUART P. WEST. Staff Correspondent of Th Ntr. Copyright, 1821, by News Publishing New York. Dec. I y. Business of'" sharply on the euro exchange day. The market was almost entirely in the hands of the. professional ele ments. The oil stocks were the leaders but there was quite some irregularity in all departments. Simms Petroleum features. Standard started slightly, lowe; Anglo-American Oil first half hour but wards. Imperial Oil comparatively heavy. In the miscellaneous department the tone was uncertain. L.ibby, McNeil and Libby was iu fair cemand and a tv.oderate advance was recorded in Diirant of Indiana due to covering by some of the operators who sold the stock on Friday. uoldwyn Pictures, Sweets Company and United Retail Oandy were lower. The radio stocks held well. United Profit sharing and the United States Steamship were bare ly steady. Dealings Yvere fairly active in the mining, group. Wil hod?, her ICufauIa, Ala.. Dec. 10. Sensationa developnK-nts are expected to follow tin finding: of indictments late yesterday by the Barbour county gramljury against 'Anna Lee and Daisy Rice Anderson ! two middle-aged negro women, in con nection with the murder of .1. S, cox, of Birmingham, whose deal Y'as found near Anna Lee's home early last Saturday morning. Rumors connecting Others Yvilh tin killing of Wilcox, who was State ageni for the Mutual Life Insurance Coin pany, have been circulated, and facU tending to bear out some of these rti -.-as one or tho "lc V. V , jil of Indiana 1 grandjury. which adjourned subject tc but rallied later, recall in this case. hesitated in th iOved up after- ui ueiaware was Bond Market Ry STUIRT r. WEST Staff Correspondent of The Stirs, Copyright, 1021. by New Pnbllahinc Co. New York, Dec. 10. During today s brief session, the bond market di Y'erged scarcely any from the path of yesterday's dealings. Liberty bonds, with, the exception of - the victory 4 3 -'4 s which remained at par, fell sharply in two or three instances but 111 the late trading regained some or thf ground lost. In the foreign government section, the feature was the rise above 84 to a new high for the year or tne Domini can Republic 5s. Zurich Ss got to 1G8 again. The leaders of the group, in cluding tne United King-dom, French government. Republic ot Chile in tne South American securities were steady The bonds of the United States Steel Corporation and several of the inde pendent steels were strong. The cor pers looked - firm. Telephone and sugar issues and the motors- all soid at practically the . same ' level of last night's close. There was weakness in a few specialties like Detroit River and Tunnel 4s which 'lost almost a point and in Virginia Carolina Chemi cal 7 l-2s down a full iviint. Wilson & Company bonds both gained about a half point. The Missouri. Kansas & Texas Issues Yvere most active among the lails. Tractions were a bit reactionary. There has been no slackening of trading in the New York market for Canadian provincial bonds this week. The most active issues have risen to higher quotations and the profit-taking which entered the market at the close had little effect on the general level of prices. I Lumber Market j Chicago, Dec. 10. The outstanding factor in the lumber market is the continuance by Jauan of heavy pur chases of lumber on the Pacific Coast. Japan has prohibited- cutting- in tiie forests of the Empire, not as a matter' of conservation, but for the purpose of controlling the flood situation. There fore, the Japanese have been forced to. turn to the United States for the purchase of lumber and continue to make very substantial purchases. Cut ting from the Japanese forests is not permanently forbidden, for modification of the order is expected after the tt pcrt of a commission of Japanese engineers, who are making a study of the situation and who will submit p-rmanent plans for flood control. West Coast producers are encouraged over the reduced rates which have been announced from west Coast points tr. Eastern territory. These reduc tions, according to The American Lum berman, will be put in effect December 24 and will help the east Coast pro ducers to extend their markets. In the South, purchasing of Southern pine shows no particular change. At present it is slightly below- produc tion, which is a desirable condition because manufacturers need an excess of stock to enable them to asioit stocks which jfre badly broken. In the hardwood field, producers note an in crease inn demand and feel that the ttiual lull in ' the hardwood trade is already at an end and that buying on will be brisk. The unsold stocks of hardwood light and that hardwood know this lends color to that buying is starting early. COTTONSEED OIL. New York, Deo. 10. -Cottonseed oil closed steady. Prime summer yellow 8.40 to S.75; prime crude 7.15 to 7.25; December 8.54; January .68; Febru ary 8.75: March S.93; April S.98; May .12: June 9.29; July 9.34. Total sales 4,70". .6d CHICAGO POTATOES. Chicago. Dec. 10. Potatoes steady- Wisconsin' sacked around whites 1. to j.75. Minesota saedted . and bulk round whites 1.50 to 1.70. Michigan sacked Russets '2.00. Idaho sacked Rurals-1.75 to j ST. St. Louis 22 : others Ej?ks 47. Butter unchanged LOUIS PROVISIONS. Dec. 10. Ducks 22; unchanged. 1,S5. greess SUGAR. New York, Dec. 10. RaYV su?rar changed at 3.60 for centri fiigaJ. Refined unchanged at 5.20 f.n-granulated. :ir ft no FREE SERVICE BROOM & BURKETT COTTON BROKERS 219 W. Trade St. Phones 4182. Long Distance 9983 Cotton contracts executed in lots of 10 Bales and upward. Orders Mlled in two minutes over direct private leased wire to New York. 'None too large, none too small. Why pay foT telegrams when we have a free wire Service? Balances settrod in Charlotte promptly. - SERVICE IS OLR POLICY. from now fact that are very consumers the beiief unusually SAVANNAH NAVAL STORES. Savannah, Ga.. Dec. 10. Turpentina firm, 73 3-4; sales 60; receipts 117; shipments 11; stock 12,277. Rosin firm; sales. 729: receipts 633; shipments 109; stock 77,829. Quote: B 3.90; D E F G H 4.00; I 4.05; K 4.75; M 5.15; N 5.40; WG 5.60; WW 6.75. CLEARING HOUSE CONDITION. New York, Dec. 10. The actual condition of clearing house banks and trust companies for the week showo that they hold $10,283,010 reserve in excess of legal requirements. This is a decrease of $7,704,790 from last week. XEW YORK PROVISIONS. New York, Dec. 10. Butter firmer; creamery, lusher than extras 46 1-4 to 47; creamery, extras 4 1-2 .to 40; creamery, firsts 38 to 44 1-2. Eggs unsettled; fresh gathered extra firsts 62 to 65; do. firsts o5 to 60. Cheese steady; do average run 20 to 20 1-3. CHICAGO PROVISIONS. Chicago, Dec. 10. Butter unchanged. Kggs unsettled; nrsts. ordinary first 4t to 48. to -54; New closed : second second - reurt h 100.00: 97.2S LIBERTY BONDS. York,. Dee. 10. Liberty 3 l-2s. 95.2.6: first 4s 4s. 90.78: first 4 l-4s. 4 l-4s, 96.82: third 4 l-4s. 4' 97.20: - victory 3 victory 3-4&. 100.00, 1 bonds bid: 97.26; 97.62; 3-4s. auHiiiMmiiHutHmmHiiiiimiiiiiMiiiiwiiiiiiiiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitiiiiiiiMiiiiiHr .iiniiiiiitiiiiiiiiil!jitiiimiiiiiniiiiiiiiiiiin;iiiniiiiiini;iii)!i: How to Iiwestl m COT! Ii II i II 24 What you should know about Cotton is contained in our Booklet No. 31, by RANDOLPH ROSE, JR. Free on Request ROSE & SON Cotton Stocks Grain STONE ST. ' - NEW YORK Wire Connection in Charlotte, X. C. 219 & West Trade Street. 1 ..' BROOME & BURKETT Start a Bank Account lust now in the thoughts wander away Take a few dollars ty opening a Savings at regular intervals. of the year, aims or me. let not your cneenui, carefree season irom the serious and lay the foundation for a prosperous future Account In this hank. We will add 4 per cent Charlotte Bank and Trust Company 214 East Trade Street. A. Turner, Pres. V. R. Foreman, V. Pres. J. H,, Leech, Cashier
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 11, 1921, edition 1
18
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