Newspapers / The Charlotte Observer (Charlotte, … / Dec. 12, 1921, edition 1 / Page 13
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THE CHARLOTTE NEWS, CHARLOTTE, N. C, MONDAY AFTERNOON, DECEMBER 12, 1921. 15 1 r,lYESTOCK COTTON GRAIN ITARICET AVJJ. QUOTATIONS; FINANCIAL 'NEW the mast ccessrusm ctatcitct fags rssuzssw KDTH3 T STGABT f WESftt If eAKOLINAS. New Y, CURB B0NB3 CTOCH3 FURTHER RISE IN SECURITIES paper of Governments in (ho Four-Power Alliance Shows Strength. Ilr ST I" ART r. AVUST .i(in,Crrrponil'intrTliP .richt. IS-l. '' Sew Fubl!hIiLt Co. "'.:, Street. New Vork. Dec. 12. ...V liiinc else i the. financial situa ' '"'."''. wa-' overshadowed by two ". episodes flrn'. another extra A advance in the foreign ex- ,',s- and second, trie great strength of the securities of the Gov , That are parties to the four- Sreoiiient in the Pacific. ".:,,..,. movemena of course registered , ; Kicnrnt in international banking :.' .".v f th importance for the fu- of the vorld or last weeks at v asmngton. Japanese over two ..OT.;?. the Cit v bonds werr almost equally I'nited Kingdom of Great "n.tKls of the series of 192:" i-c;iv!y two r-oints and thos-". (:; securities point. United av bond also went highe-. , on account of the extensive wl'.ii'i the.v had had rtuiin y.'.-virh. thei-- s'ain 'vsis not as 'in,' upturn m tho excnanne v sensation " . sterling leading ,vi;!i anot;er ten-cent jump -, , ; sr ;it iio advance within the i1hvs up to nenrly 25 cents in ,.,1 In fa"t at today's high i.is bark more than half way eviicmf low oi .-u14un1 io me v. - of .ti.s. r rencn irincn , iivn weks ago were srilin vi were today quoted around ;, lire. Belgian francs. ;.if.rs. Span-.-;i pesetas and currency rose with t'r - ;i r n : u:s ise ::!'; in has played such a promi- , in tiie fluctuations or .he ,-. ker duTtng- the last three sin. ii"3 European governments lMf i':Mr artificial support that liifT nossihie that tins recov- :o',- to have been exees.-i v; ,:v ' is hardly justifiel by sue n lias occurred in the British ,:i .- imports, nd it js quite k-.t:i. with the Trench ttade . have shown, ins'.ead o ;i return to an import shown in the i . j m t!i nioxement or loreigii homls ivcr the ae ? mpiisr ihe Wah-nston iMiifevenc very feebly reflected in the ;,u-ket of the da nnd and stock prices were ilar. Kurupe appeared more v on the tmying side than di)- so tar. whicu was a imij'sSi development in view of a vnltio of European currency the dollar. But the London u: dam buying was not much In the early part of tha copper and metal stocks were along' with some or tne oils, varices, however, were not sus a rule. There was a pood ;' proili-takinK in the steels and icuts wiiic h had been t he f a - i r. li 1 f ! I Features By STUART J. "WEST. Stnlf CorreftBondent tt Th. Copj-risht, 1921, by IVovs Pubilsbins Co El'ROI'E BI VS STOC KS. Houses handling orders for foreign account reported that, for the first time. Ixmdon was cotivelv buvins American stocks today. This, of cour .e. was the logical result of the rise in sterling- Saturday and again this morning. Inasmuch as the pound bucs more dollars than it did. all securi ties quoted on a dollar basis have be come more attractive in English ec3. Lr.ion Pacific was one of the higher priced stocks which London was pick- nig up. There -was also ouite a bit of English buying-in some of the low priced rails. Amsterdam was respon sible for the upward move in Royal Dutch. COTTON MARKET CHAIII18TTR COT'TOy. Receipts today, ?l bales at . . : . 1 7 "i 1 KY YORK COTTOIV. New York, Dec. 12. There further advance in liie .cotton today on covering for' over the uient's crup -est.iniu.te.. and fresh BUI, STOCKS HEAVY. Toward the cloe of last week and again today there was a "very notice able selling in the railway sto,cks especially some of j:if lo wer-priceu ik n-nn ioenci payers. I he reason was somewhat obscure because even stocks of comoanies that are doins: verv well in the earnings were quite definitely wfak. It now appears that, much of this selling has been for the purpoi? of recording losses for the income tax report. The new law rs now in effct and there can be no more selling out and immediate repurchasing of stocks. The Seller must wait for thirty days before buying back. A typical in ftanc was St. Louis Southwestern pre ferred: The full fly r cent divice: d. Is being earned with a comfortable ti?lance. besides for t'n oramon. The e was po reason, therefore so far as earnings are concerned, for the declhii In the stock to around 3t. But .1 year ago St. Louis Soul h western pre ferred was in the- inidst of its move up to 40 and people, who bought at that time have losses now which they can set up against tlielr taxes. was a market govern - bu ying promoted by firmness in Liverpool, re ports ot a better feeling in Manchesttr. and the more fa voi-j.rj:e, reports from the domestic goods trade. First prices were firm nr an advance of 14 to 45 points and the more active positions sold 40 to -1$ paints net higher rig tit after the call with January and March touching 18,12 and May .17.96. -These prices attracted agOod deal of realiz ing and there were reactions of 11 or l.i points from the best before the end of the first hour. Trading was quite active and general at tne start but tha volume of bus! F16SS Xci pered off aome- wnat alter the early buying orders had been supplied. Trading became decidedly less active later and after selling off to 17. Mr January, the market was completi quiet. The undertone, however, was steady owing to the continued firmness of foreign exchange rates, which, many regard as the forerunner of an im proved export demand and the markcz held close to the lS-cent level foi winter and early spring months around midday. The market remained ciuiet towatds 2 o'clock, but was rather easier under scattering liquidation, nad when the Government report was issued placing tne yield at 8.310.000 bales, the pres- srre became general with January sell ing off to 16. D5 or 75 points net lower. CI.OSR SEW YORK Pt'TCKES. closed Clos 17.i'J 17.1 S 17.1S 17.00 16.56 cot Ton CHILE l.'OPPEB. The street was fun of bull talk on Ciule Copper and predictions of an immediate advance made good desp'tj the suspicious fact that they were, very general. A pool is :tt work in the stock and It is -in charge of one of tha most experienced operators in t'a; street, a veteran in the handling of big floor operations. There is nothing in the Chile Copper situation particu larly to differentiate it from that of other coppen-oiiipavies. As a, low cost producer every advance in the metal around present prices means a good deal in the way of increased pofits. Another thing that has improved 1.3 position greatly is the fall in shipping rate and the" abundance of tonnage now aAauabie. ah the boutn American min ing companies were greatly handi- pped during the war by the scarcity of freight room. The strength of Chile Copper's financial position was demon strated at the time of the 540,000.000 oi'per export association notes last spring when . it elected to take its share of tne proceeds in nctss Instead cash. 5 von p. ;;?iiit? on ratl-.rr iinf" were i-lose of last :? appeared week n the while rail- the stock exchange today oriclusive. Advances and about equally distributed. ti'e essoin tai imnp was mat was not the slightest sign of a n v.'ii 1 professional Wall Street Iking about and which predicting for the first December. A number of :ie!; the rise, toward the week had been particu- rapid had a moderate reaction, pla'-rs were taken by an equal r of ;,pw favorites. Despite talk Li-r price cutting after the flri year in th motor industry tbo o- shares held up well, and a titer advance in crude rubber quo- en- was promptly toiiowca ny a in the rubber and tire group. lirr-n 1 . " a s free', stoeks in "v r'lfl or lat iarly 'i heir l.MlVl r r. Dry (ioods Market r ml Am' r. west. Ian' Corres'iondent of The Xeira. I 'i i i-bt. itt'Ji, by Aenii fuhltsblnc Co " w y..;k, Dec. 11 Demand for i:"i! goods wiiich vegan to show n ; !o , :,;,nt early -ast week con tin - "'i today, although buyers are ins with caurjon. Prices were he same as thev were Saturday i en some considerable advances were newn over the low 'evels. A number lrge primers, bltaehers, "converters "e some log out-of-town concerns i' ;u tiio market now and ready to i;y unless they are frightened away y priecs i.fing- advanced too rapidly ".ling Hgcnts handling cotton good3 n press the opinion tnat business will e more hrisk next month than is usual January bcaus-3 of the condition of m jobbing houses. R' ee- It ! SA V AAA AH SAY At. STOllES. van r.a 'a. in. 7:: ::-): ip'nerits -0. I In-in til in : 1 mnini.s fJnote- ::a.. Dec. 12. Turpentlm sales 359; receipts 31$ ; stock 12,430. sales 6 43: receipts 1.44C !' t. stock 78.969. B D K V G JT 1.00; I M 'i:r, X 5.10; WG 5.60; 4.05 WW LAY YOBlv POULTRY. v,Jik. Do-. Live poultry : ' lie kens -: m 21: fowls IS to 'o-tejs I.",; lurkevs 40 to 42. 'c?:ei irregular: western chickens ' U: fowls 17 10 35; roosters 17 to iuik--s 52 to 54. Ull SLCiAR. Nf,'- Vork. Dee. 12. Raw sugar i-'n'-ft'-l at 3.0H for centrifugal. 'I'lnie'i unohanged at 5.20 forfin ileicfj. .AMKIHCAX SLMATKA. Repots wee in cieulation toda ;it American Sumatra was anticipat ing some financing. There have been all sorts of adverse rumors regarding this company recently and they have always come at a time when the stock was weak. The weakness was com- iriicated today to Consolidated Cigar subsidiary, which broke rather siiarp- 1. It Is said that the parent company would like to get rid of this company if possible. New York. Dec. 12. Cotton- barely steady. Open -High low Dec. . f IX. 00 IS. 22 17.25 Jan 17. S5 IS. 12 16.95 March 17.95 1S.12 1 Hav 17.75 li.96 IS. 75 Julv 17.35 17.50 16.30 XEW. VORK irOT COTTOV New York, Dec. lz. Spot quiet: middling 17.70. Wall Street New Rotk, Dec. 12. Developments over, the week-end, particularly the trftnd of international events at ihe aims conference, infused further activ ity and strength to the stock market ai thi opening of today's session. Gits. ccpDC-rs. equipments arid shippings ccntinued to lead, rails following their recent sluggish course. Mexican Feu-oleum. Royal much. American Smelt ing. Federal Alining .:td Smelting 'pre ferred. United Fruit and American Lo comotive rose a point or more in tne initial dealings. Chandler Motor was the only weak issue, falling two points. Foreign exchanges were very strong, al; the principal remittances tind'-i lead of sterling attaining to highest quotations for a year or more. Rails suffered further impairment of prices at midday, Norfolk A Western and several minor issues losing one to three points. Pullman and Sumatra Tobacco also -became heavy but I lans- continenlal Oil. Pacific Mail, Central Leather. Kndicott-J ohnson. and low priced specialties made moderate, gains. The closing was sreaay. Liioercy bonds and most other Government s- si:e-. were lireguiai, aies approxi mated 650.000 shares. AEW YORK STOCK LIST. La sale. Ailis-Chalmers .. "S It'-' American- .Beet sugar Can . Car & Foundry .. Hide & Leather pfd Internationa.: Corp.. Lcoomotive Smelting Ref. Sugar ... Sumatra Tooacco .. T. & T. . Sec. . . . . . . Grain Market INJURED OCCUPANTS OF CAR IMPROVING The condition of Mrs. F. A. Cathey, of Gastonia. who was seriously injured Saturday afternoon when the powered : motor car, which she driving, ran off the highway down an embankment on the high was and Dowd :-o.j OA. 146 57 41 99 46 55 30 116 1'ooacco Woolen Copper Indies XEW ORI.EAS COTTOX. New Orleans. Dec. 12. The early rife of about five cents in the rate of sterl ing exchange, better Liverpool cables than due and the. feeling that any thing the Government would have to say about the size of the crop later in the day had been " discounted, put- the price of cotton strongly higher today In the fust half hour ot the session tlm trading months gained 27 to 36 points. January rising to 17.10. Just before 1 o'clock the marxet stood at net advances of 10 to 14 points. January traded at 17.14. The crop estimate of 8,340,000 bales from the Department of grieulture, alto gether larger than anybody looked for- caused an Immediate mreak of 111 to 112 points. January in the first quarter hour following the Issuance of the figures falling to 16.02. The volume 01 business done . was huge, selling oiders coming from all directions and swamping the ring. CLOSE NEW Oni.IOAlVS FtTTURES. New Orleans, Dec. 12. Cotton closed steady at net decline of 57 to 58 pointsi Open a 7.02 17.12 17.26 17.15 16.85 ORLE A M Iron Dec. . Jan. March May . . . July . . . 1VEW Tjitrh :r.21 17.40 .-.53 r.40 16.97 SPOT New Orleans, Dec quiet and unchanged; 39!l bales: to arrive 337 Low middling 15.00; good middling 18.00. Receipts 5,094; stock Low 16.10 16.02 16.20 16.10 15.50 COTTON - 12. Spot cotton sales on the spot Close 1 6.39 1 6.16 16.60 16.12 middling 17.00; 404,095. Curb Market Br STUART I WEST. Stuff Correspondent of The Nri. Copyright, 1921, by XTrm rublinhiiic Co. New York, Dec. 12. On the cure exchange today the leading oil issues were m fair demand while, some or the miscellaneous stocr.s were reaction ary. LMiring the forenoon there was more active commission house partici pation in the' market but after midday dealings fell off sharply and the pio- fessional element was in control of the market thereafter. Some of the mining rssues were in excellent de mand, Magma Copper attracting at tention because of a big increase in business and' in advance of several points while Boston and Montana and Eureka Croesus were strong. Simms Petroleum again assumed a position of leadership. The buying was for the account of several, promt nont stock exchange houses. une Standard Oils were more active. This re was a good demand for Gillette Safety Razor which sold ex-the 10 per cent common stock dividend. Farrell Coal and Burns Brothers B were easier but Acme Coal was in fair demand. Bonds were fairly active and steady Price changes were confined within a. narrow range. Cotton Opinion LIVERPOOL COTTOX. Liverpool, Dec. 12. Cotton: Spot in Increased demand: prices steady; good middling 11.98; fully middling 11.58; middling 11. IS: low middling 10.18; sreod ordinary 8.43: ordinray 1.68. Sales 7,000 bales, including 3,900 American. Receipts 24,000 bales, in 1 1 - 1 1 i r. a . . ciuoins l.iDU -3.merica.jj. Futures .closed barely steady. De cember 10.99; January 11.03; March 10.94; May 10.81; July 10.55; Septem ber 10.26; October 10.07. Enough realizing came from the long side to c3ck the advance and cause small recessions, the market standing 20 to 22 points , up, with January at 17.24, at noon. At midday traders of all classes were waiting on the Gov ernment's figures on the crop. COTTONSEED OIL. New York. Dec. 12. Cototnseed oil closed weak. Prime summer yellow (spot) 8.2.-; prime crude T.lo; Decern ber S.35; January S.-id; February 8.55 March 8.75; April 8.81; May 8.95; June 9.08; July 9.15. Total sales 16,200. CHICAGO POTATOES. Chicago. Dec. 12. Potatoes easy. Wisconsin sacked and bulk round whites, 1.65 to 1.75 cwt. Michigan, do, 1.75 to 1.80 cwt. Minnesoac sacked round white 1.50 to .70. -Idaho sacked Russets 1.90 to 2.10 cwt Idaho sacked Rurals 1.75 to 1.S0 cwt. American American American American American A merican American American American American m erica n Anaconda Atchison . . All.. Gulf & TV- 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 & Corn Products Crucible Steel Cuba Cane Sugar Erie . . . . . General Electric General Motors Goodrich Co. .. .. .. Gteaf Northern pfd .. .. Great Northern Ore ctfs .. Illinois Central Inspiration Copper : Int. Mer. Marine pfd . . International Paper .. Kennecott Copper Louisville & Nashville .. Maxwell Motors .. .. .. Mexican Petroleum Miami Copper Middle States Oil Midvale Steel Missouri Pacific New Yofk Central N Y.. X. H. & Hartfard . . Norfolk & Western Northern Pacific Oklahoma Prod. & Ref. . . Pan American Petroleum . . Pennsylvania People s Gas .. Pittsburgh & W. Va Ray Consolidated Copper . . Reading Rep. Iron & Steel Royal Dutch, N. 5. .. . Shell Trans. & Trad Sinclair Con. Oil . . . . Southern Pacific Southern Railway Standard Oil of N. J., pfd Ttudebaker Corporation . . fennessee Copper TexasCo - -- .-. - Texas & Pacific . Tobacco Products Transcontinental Oil Union Pacific U. S. Food Products . . United Retail Stores U. S. Ind. Alcohol . . IT. S. Rubber U. S. Steel Ctah Copper Westinghouse Electric Willys Overland Pure Oil Atlantic Coast Line .. .. . Coca Cola . . . . Gulf States Steel Seaboard Air Line Sloss, Shef. Steel & Iron . United Fruit . . ...... Virginia Caro. Chem. . . American Tobacco 134 Invincible Oil , . . . 12 American Zinc -. 12 International Harvester .. .. 82 General Asphalt .... 1-2 7-8 5-3 1-1 3-4 1-2 1- 1-2 Copyright, 1921, by N. Publishing C Chicago, Dec. 12. TV heat had an easy undertone most of the session today. Trade was exceedingly slow showing the customarily pre-holiday dullness. Senti-; ment appeared to be bearish yet enough caution was shown to make the selling of rather moderate volume. Bulls tendered: the market support and this made bears' mo?-e. eaiitmiis nut iruiiio-b sAlline i-qina' out- through commitsion houses with notrhwest connections to put a burden 011 the longs. The early pressure was inspired by the belief o fan increase in the visible supply but the completed statement show ed a reduction of 426.000 bushels for the week. Canadian visible decreased- 4.335,- 000 bushels but this was in part due to transfers in stocks, an increase of 2.884. 000 bushels being posted in bonded wheat supplies in the United States. Cash wheat premiums were unchanged. Milling de mand for wheat was. slow and the sea- ooara reported reduced bids, from across t the ocean in early cables. Receipts in the advices from the southwest indicate light er offerings in the interior. Weather con tinues dry in the southwest and com plaints are again coming from those parts. Receipts estimated at 900 cars and an increase of 432,00 bushels in the visible supply were depressing factors in the corn market. There was good buying on a frac tional dip credited to cash interests. Cash corn basis was quarter to half cent lower. Both the domestic and export demand for cash corn were lighter. Offerings to arrive were fair. Not much interest .was displayed in oats. The undertone was easy in sympathy with other grains. Cash premiums were unchanged. Shipping demand was slow. Visible-supply decdease 1,008,000 bushels. l road, near the Elizabeth mill, was 'slightly improved Monday afternoon, ! according to a statement from St. Peter's hospital. Mrs. Cathey received a fractured skull and was unconscious when brought to the hospital. She regains consciousness intermittently and then lapses into insensibility, it was said. Miss Lena Lineberger. who was in the car at the time of the mishap, is still in the hospital and is showing Her jaw-bone was improvement. fractured. " . . , The seven-year-old son of Cathey, who received bruises and in the face, has been discharged. Mrs. cuts I Meeting Calendar MONDAY,; 6:15 p. m. Advisers, girl department, r. vr. c. "a. 7.r. 111. Men's club, Second Presby terian church. '. S ). m. Board of directors. 'Mer chants' Association, offices of Associa tion. TUESDAY. .,:;tfl p. in. Young Matrons' Club, Charlotte Country Club, with Mrs. Dolph Young. 1 p. m. Rotary Club, Chamber of Commerce. 3 p. m. Sorosis. Mrs. Hugh A. Mur rill. East Morehead street. 7:30 p. m. Big Brothers' dinner, Cham ber of Commerce. 8:30 p. in. AValter Hampden, City Audi torium. 7:30 p. m. W. Q. TV.. Rocky River Camp, No. 94, Chamber of Commerce. AUTO MEN DISCUSS USED CAR PROBLEM 82 49 90 32 95 35 58 121 3d 48 56 20 31 . 28 25 73 64 11 142 1 1 35 7 5 31 98 39 66 53 27 10S 115 27 14 28 18 73 14 97 79 3 ' 52 33 , 56 , 25 . 15 . 71 . 52 . 40 so . 18 . 112 . SO . 10 . -17 o t - u 58 . 11 . 127 . 10 . 52 . 39 . 54 . 83 . 64 . 51 6 . 40 . 88 . 41 . 47 3 . 37 . 126 . 29 66 1-2 1-8 1-S 1 1-1 1-2 1 3-t 1-2 1-2 3-S 1-4 1-1 7-S -4 1-2 1-4 1- 1-8 Provisions were, quiet but easier break in hogs induced demand was light. some selling . The while 7-S 1-4 7-S 1-4 Chicago, Dec. 12. Large deliveries Here on December contracts had a, bearish effect on the wheat market today in the early trading. Opening quotations, which varied from unchang ed figures- to 1-2 vr:it rower, we.e followed by slight setbacks. Corn had a downward tendency ow ing to Pig receipts uere. Alter open ing 1-S to 1-2 lower, the market ccntinued weak. Oats paralleled the course ot other cereals, starting 1-8 to l-4 cent oft to 1-8 advance, and then sagged. Provisions were depressed in line with hog values. Wheat closed unsettled, 1-8 to 1 cent net lower. Coin closed unsettled. 3-S to 1-2 to 1-2 to 5-8 cent net lower. CHICAGO URA1 and provisions. Discussion of plans for the solution of" the "used car" problem was the outstanding feature of the weekly luncheon of the Charlotte Automotive Trade Association at the Chamber of Commerce Monday afternoon. President Harris is to appoint a committee, charged with formulation of plans, to be presented to the asso ciation for the acceptance and disposal of "used cars " Announcement was made that the annual night meeting of the associa-! tion will be held next the usual jollification staged. There was again discussion of the proposed tourkt information bureau. O. L. Barringer read a report of the activities of a tourist bureau at Bay City. Mich., which has attracted at tention in automotive circles. event will be COTTON CROP OF (Continued from Page One. growers' report of acreage reductions, which were biased by propaganda nnd generally believed. (6) Since July 1. lield statisticians have been able to travel and their reports indicat? thr.t the growers' report on June 25 ex aggcrated the reduction in acreage. T. appears that while many growers act -ally reduced their acreage, others t0'.; advantage of the propaganda sentiment for reduction and .proceeded to in crease their own acreages. (7) The es timate of the acreage in cultivation rn June 25 was coritct when checked against data submitted by growers ir i that time, but it now appears that th" data upon which the estimate wa br.sed were misleading, the acreage v,f I underestimated, and the crop reporting j board was deprived of the check af ! forded bv personal travel ami inspc--ttion of nvid statisticians until the last half of ilK crop year. 1-S i-4 I 1-2 S-4 3-8 1-4 1-! 1- 1-8 3-8 3-4 3-4 Chicago, WHEAT May July ... CORN Ma y ... July . .. OATS May . . . July ... PORK Jan. ... LARD Jan. ... May ... RIBS Jan. . . . May . . . Dec. 12.- Open . .1.14 M.02 High Low Clos 1.1 i'k 1.03 13 14 Oil's 1.1 3 1i 1.02 53iA 55 '4 381 38 8.70 9.07 53' 55 38 s 38 ?i 8.70 9.12 37 ?i 38 8.67 9.07 .90 .90 S 1-4 i-2 5-8 7-3 1-4 3-8 i - 7-8 1-S 1-2 1-4 1-1 1.-4 ' - 2 1-2 1-4 7-S 1-S 7-3 1-4 3-4 CHICAGO CASH GRAIN. Chicago, Dec. 12. Wheat. No. 1.17 to 1.19. Corn, No. 2 mixed -48 1-2 to 49; yellow 49 to 49 1-2. Oats. No. 2 white 6s i-z to white 33 1-4 to 35 1-4. R3re nominal. Barley 52 to 62. Timothyseed -5.00 to 6.00. Cloverseed 12.50 to 18.50. Perk nominal. Lard 8.80; Ribs 7.00 to 7.75. 55 37 v 3 8 4 15.00 8.7 0 X10 7.65 7.S7 2 red No. 2 '; No. CAROL SERVICES AT QUEENS DELIGHTFUL The assembly hall of Queens College overflowed with an audience that was charmed with the first Christmas carol service at this institution, under the present administration, given Sunday afternoon at 3:30 o'clock. The entire program was under the direction of Miss Elizabeth Starr, voice instruc- j tor and director of choral singing at ' Queens,, and Dr. J. R. Ninniss, dean of organ music. Dr. Ninniss -rendered a beautiful or gan prelude to the unraveling of the program of the afternoon which was made up of a processional, four carol numbers, two solos, two anthems and a. recessional. The student body, each girl dressed in white, marched into the assembly room . singing the famed hymn "Come All Ye Faithful." Miss Starr directed the beautiful sing ing from the platform and the excep tional finessee shown by the students, not only in this, but in other features of the program, indicated the mastery she exercises in the staging and direct ing ot choral singing. Miss Beulah Holmes and Miss Susie Manson sang two solos, both having soprano voices of unusual range . and lyric beauty. PRICE SI.l'MP FOLLOWS. Xew Orleans. Dec. 12. Publication of the Government's estimate of the to tal cotton ciop, placing the crop at S. "40.000 ba'os. was followed almost im Inediatoly by a break of a little more than $5 per halo on the New Orleans Exchange. A decline of from 106 to 109 points was recorded within 15 min utes after publication of the figures. XEW YOKK'MARKET breaks. New York. Dee. 12. Cotton broke ribcnit 55.S5 a- hale from this morn ing's "nigh 1- 1. when ihe Government estimate of this year's crop was made public. January, -which had sold at 18.12 earlier in the morning;, broke to 16.95. The drop represented about $3.75 a bale from Saturday's closing price. The Government estimate of 8,340.- 0000 bales Avas hich?r than vate reports rec; ntly issued received with surprise. The Government estimate 000 bales was higher than any private reports recently issued and was re ceived with surprise. Prices had advanced on expectations that the estimate would bo less than S. 000. 000 bales and general liquidation followed publication of the ollicial lig-ures. any and pn- was of 8,340.- ST. LOUIS GRAIN. St. Louis, Dec. 12. Wheat, No. 2 red 1.22 lo 1.23; rso. 3, 1.15 to 1.13; Dec. 1.08 3-4; Maq .Il 5-8. Corn, No. 2, white 4o 1-2 to 49: No. 3, 47 1-2; December 47 5-8; May 52 1-S to 3-8. Oats. No. 2 white 35 1-2 to 36; No. 3. 34 to 34 1-2; December 33 1-2; May 39 3-4. Bond Market CHICAGO PROVISIONS. Chicago, Dec, 12 Butter higher creamery extras 4o 1-2; firsts 3o 1-2 to 43: firsts 35 1-2 to 43; standards 38. Eggs lower; firsts 52 to 53; ordinary firsts 46 to 48. EVERYTHING Jn High Quality wilding Materials CI The old slogan, "It pays 0 buy (he best," has been badly over-worked but with reason. It i so very true. We buy most tveryihing for future use an.I 'hat's where the "best" comes '" Especially in building do ""' want permanence into '" years ahead. High quality inures you this permanence. CITIZENS Lumber Company South Boulevard Phones 3472-3473 New York, Dec. 12. The estimate prov ed well above current expectation and naturally led to much hasty selling for both accounts, under which prices melted awav rapidly since support faded away It remains to be seen if ginnnig figures will turnisn connrmation 01 m estimate but bullish ideas have undeniably receiv ed a jolt from which they are not likely to recover quickly unless encouraged by continued favorably trade advices making it seem probable that consumers will be forced into the market for fresh sup plies in considerable volume. The addition of a few hundred thousand bales will not necessarily imply any important change in the final situation but the effect of sen timent of such a report canot be ignored and the influence on the spot and goods markets will be closely watched. The total supply at the end of the season will not be essentially modifhed by tne increase in the. estimate over what was generally looked for if the figures prove correct but. f trade conditions are upset ny ine re port, it will be corresponamgiy uimcuu for prices tO Climo Dacis auu uujcio onuutu more tha never await favorable oppor tunities betore getting in. CHICAGO POULTRY. Chicago, Dec. 12. Poultry, higher; fowls 14 to 22: springs turkeys 37: roosters 15. alive, 21 1-1 NEW MUSIC HOUSE WILL OPEN IN CITY FOREIGN EXCHANGE. 12. Foreign ex- (par $4.85 Demand 60-day bills 5-8 per 4.23 5-S; on banko franc). New York. Dec change buoyant. Great amain pound sterling) cables 4.24 1-8; 4.20 1-2. TTrafif ftar 19.3 cents per Dfniand S.31 1-2; cables Italy (oar 19.3 cents per lire): Da nonri 4 77 1-2: cables C.. 'iBelsrium ("oar 19.3 cents per franc): ricminH 7 98 1-2: cables 7.9(. cieimanv (par 23,8 cent? per mark): Demand .60 1-2; cables. .61. Holland (par 40.2 cents per guilder; Demand 36.40; cables 30.46. Norway (par 26.8 cents per krone): Demand 15.00. Sweden (par 25.8 cents per krone): n.monl "4.50. Denmark (par 26.8 cents per krone): Tlpmand 19.10. Switzerland (par 19.3 cents per franc): Demand 19. to. Spain (par 19.3 cents per pesota) Greece (par 19.3 cents per drachma). Demand 4.22. Argentina (par 42.44 cents per irentine paper dollars): ijemana Brazil par 32.45 cents per ,ii.i0e nomntid 13.25. 'Montreal (Dar 100 cents per Canadian dollar): 92 3-16. NEW YORK PROVISIONS. xrr York, Dec -12. Butter steady frMtiterv higher than extras 46 1-2 to At. .amrv. extras 46: creamery, firsts 7 I v- v-""-' r 35 to 45. . ' rvffs hareiv steauy; nesu wuia' flrt to 5: do. firsts 56 to Cheese firmer; average run 20 1-2. Ar paper Pendleton and Sain, dealers of the Starr, and Hallett and Davis pianos will oon a new music house at 226 North Try on" street Tuesday morning. The building, formerly occupied by the Komo Supply Company, was being re novated Monday and the -stock put in place and all will be in readiness for the opening Tuesday W. A. Pendleton, one of the firm, lor more than 25 years has conducted a. music store in snetoy wnne a. i. wain has operated a' similar store in Morgan-ton. DEATHS FUNERALS PALL KILGO. Greenville. S. C. Dec. 12 Paul Kilgo, young son of-nev. iviigo. pastor of the Methods-it church at Laurens and a nephew of Bishop John C. Kugo, oied early today as the result of an automobile accident near Newberry. FOUR ARE KILLED IN SLIDE ON RAILROAD Aberdeen. W'ash., Dec. 12.- Two men, n woman ana h naov are ueo-u. aim iwu men are in.iured. one perhaps fatally as a result of two slides on the demons Loco-ins- Comnanv's railroad about 16 miles south and. east of Aberdeen last night. 60. SLAUGHTER'S LOOT IS BURIED IN AUTO TIRE Pine Bluff. Ark., Dec. 12. Buried in an automobile tire, somewhere in northern Texas, are $102,000 worth of securities, Tom Slaughter's share of loot obtained by his band in numerous hank robberies; according to A. W Tunis' local aeent of the United States Fidelity arid Guaranty Company. SEVEN CONVICTS ESCAPE Ahviu. Dec. 12. Seven convicts cc-anori from the - Cherokee county .t-miYiE-jine- hear " Mltrphv last night of the band, said to be the rino-iendpr. has been aoprehended. Bloo" hounds are being, sent from Chattaueo ga. but had not arrived up to noon to clay. By STU 71T r, WKSX Staff Correspondent The News. Copyright, 1921, by Newi PuMUhins: Co. New York, Dec. 12.- The -feature in to day's bond market was the great strength of Japanese and British governments, a direct result of the .agreement reached last week at . Washington . which points toward permanent peace in the Pacific. The Japanese issues were well above their previous high of the -year," the first 4 l-2s selling up to 88 and the second 4 l-2s crossing 87 while, the fours of the ster ling loan rose two points to 74. City of Tokio 5s with a rise of nearly "a. point, equalled ' their high. United - Kingdom is sues were almost equally strong. The 5 l-2s of 1937. the former high on which had been 93? 1-2 and which had closed on Saturday at 95 7-S. reached 97 at the same time the 5 l-2s of 1929 were, up two points when they went above 99. Liberty bonds were lower at the start but more than regained this slight loss later. Mexican government bonds . were in demand .the fours up a point and the 5s up 1 1-2 points. This scarcely had much significance, however, as indicating devel opments in the Mexican relations of in the negotiations for the refunding of the external debt. Rather curiously, while the Mexican aovernments were going up. the uer cent bonds of the National Kailway of Mexico took a sudden tumble. The general bond list was very irreg ular with about an even division or ad vances and declines. All the fat. raui bonds want lower, some of them losing a Doint and more. Chicago threat w estern ak TPonnsv vania s ana nuason ana rviaii hattan refunding 5s were among which lost ground. The Erie general lien 4 s were noints under their last previous transac tion. - " Wilson & Company ?!rst 6s were not 125.000 issues or by tne accompanying statement that the company would nave a rUfirit from this year's operations. The Chile Copper bs and cerro ae Pasco 8s moved m sympathy with tne atrene-ih in the copper shares generally The Cerro de Pascos equalled their high for the year. American Smelting 5s were ni.o stroneer. The new .Missouri vansa$ tw1 Tas Tk and adjustment 5s both oiri at hoh- liirh Tirices. So did New York 'r.ic-r,hnti fis and New York City 4 l-2s of 1963. YORK MONEY. Dec. 12. Call money 1-2: K-w 5; ruling rate 5: offered at a 1-2; las NEW New Y'ork. firm; hign 5 5: closing bid I r. a n r 1 . Call loans against acceptances 4 1-2 tn. a Time loans firmer; 60 days, 90 days and 6 months 5 to 3 .1-4. , Prime mercantile paper 5 to 1 STOCKS & BONDS Bought and Sold on . Conservative Margl SIMMONS & COMPANY Members Consolidated Stock Exchange of N. Y. 20 Broad St. New York Live Stock VALUABLE CARGO OF RARE LIQUORS FOUND St. Andrews, Fla., Dec. 12. The yacht Glendover, which burned and sank in Pensacola Bay, off Beacon Heights, gave up approximately $80,- 000 worth of 'liquors when raised here tinder the direction of William Abt, deputy collector of customs of Pensa cola. The Glendover, of New Orleans, was burned last week when one of the crew struck a match in the galley of the vacht. igniting gasoline fumes. Sus picious action of tha crew aroused cus-' toms ofiiciiils and they were present j when the yacht was raised. The cargo j of contraband revealed a quantity of fine liquors and champagne, which is now being transferred to. the" Govern ment dredge Caucus at St. Andrews. Arrests will follow, customs officials state. POPOCATEPETL NOW VIOLENTLY ERUPTS Asso greut, burst after- CopyTiKht, 1921, by New Publishing Co. Union Stock Yards. Chicago, uec. z. Notwithstanding the fact that there was no improvement in the strme situ ation here, the supply of livestock was much larger than expected, packing house workers at New York were, re ported on strike and this cut some of the demand from shippers at the local ards. Average price or good v.ecr steers last week was placed at i.4t howinr a gam or a dime over tne week before. It was about $3.a0 ocjow year ago, however. Receipts of livestock at the local yards today were estimated at Jv.oot. attle, 48,121 hogs, zzi sneep ana lambs and 2,500 calves. . against 21,J0. cattle. 4S.12L0i0 hogs. 22.GSi shepe and lambs, the corresponding day last wek. CATTLTc: -Cattle trade was generally lower. Sales of steers , did not show as much decline as expected, however, and most of the good lots got away with a drop of 2; cents. It was a verv uneven traae ior an graues. yearlings sold at $9.50 to $9.75 but strictly, prime lots yc:e still quotable up to $11.25. Shippers bought a tew choice cows early a nearly steacy prices, but here also the trade was uvievenlv lower. Canners were dull ami bard t sell at' weak prices but bulls were strong. Some good bolognas went at $3.50 to $3. So. Calves were also 'strong, packers taking choice vealers at' $9 to $9.25. HOGS: Hogs were ff 25 cents tiom the start but some of the heavy anJ light butchers were down 40 cent.s later .in the day. Bulk of good hog went at $6.75 to $7.10 with top light? at $7.50. Rough packing hogs sold around $5.50 while best pigs nia2 $7.50. Heavy butchers sold at - $b. j to 06.90 for the best, jviany nogs v.ero unsold at the close. SHEEP: Lambs were down cents to no cents alter a siow Choice killers were placed at to $11, with the best quoted TEETER TAKEN IN ASHEVILLE Mexico City. Dec. 12. (By the ciated Press) Popocatepetl, the volcano southeast of this city, into violent eruption yesterday noon, a column of smoke and ashes be ing thrown ,2, 500 feet above the sum mit -of the mountain. President. Obre gon directed that two aviators l.e sfiit to the . mpuntain to ascertain 11m seri ousness of the outbreak. The aviators reported upon their re turn that they had heard heavy ram bling m the mountain and thtt Java was flowing down the slopes bj'- v.- the crater. Warnings have been sent to the residents of villages near tlm moun tain, but reports indicate that thes small towns have been deserted r weeks. Within the past month, Popocatepetl has been reported active, cac'i erup tion showing greater violence that the one preceding it and a serious outbreak i is forecast. Fred Teeter, well-known young white man of the city, is being held for he sheriff of Mecklenburg county at Ashe villle on a warrant charging him with abandonment of his wife and child here. Louis Long, rural policeman attached to Sheriff Cochran's office, left Satur day night for Asheville and is expected back here Monday night with Teeter. It is expected he will make the requir ed bond of $300 that will keep him hero for trial at the January term of super ior court. CHARLOTTE WILL BE STOP FOR AIRPLANES Charlotte will be North Carolina's stop for the commercial airplane to be operated through the south by the Aerial Transport company, of New York, according to an announcement from an official of the company. Th:s company proposes to have planes fly ing throughout the United States, car rying passengers and freight. This service will be started, it was said, ear ly in the new year. YALE AND CAROLINA ELEVENS WILL PLAY EASTLAKE IS TAKEN TO COLONIAL BEACH Richmond, Va., Pec 12. Roger D. Eaatlake, charged with the murder on September 30 of his wife, Mrs. Marga ret Rastlake, in their home in Colonial Beach, Va., was taken from the Rich mond city .iail early today and t-ans-ferred to Colonial Beach preliminary to his trial, which will open tomorrow in the. Westmoreland county circu;t court at Montross. Va. Miss Sarah Knox, a trained nurse f Baltimore, who is charged with the same crime, will be held in the local iail until the conclusion of Enstlake's trial, unless she is wanted as rips.3 before that time, the announced. Mrs. Eastlake was found dead on the floor of the dining room of her h'.mo, v-...r l.otlv Leins? bndlv mangled. A oro- ner's iuVv rendered a verdict iha' came to her death at the hands husband and Miss Knox. a wit- authorities of she her $11.25. Feeders were strong, ings and aged muttons were cunts. Good yearlings sold a to 25 start. $10.50 up to Year I -off 25 $3.75 while 5iu 10-pound native ewes went at CHICAGO LIVESTOCK. Chicago, Pec. 12. CATTLE: Receipts 27,000; beef steers and she stock dull, bidding unevenly lower; few early sales wet-K to 25 cents lower; bulK beer steers 6.75 to 8.25; bulls steady to lo cents higher: bolognas largely 3.10 to i.tf. veal calves strong: stockers ana iceatvs steady. HOGS: Receipts 60.000: 25 to S cents lower than Saturday's average; butchers off most; shippers buying liberally; big packers. olding back; top 7.50 for light lights: 170 pounds aver age up to 7.35; bulk hogs averaging 190 pounds and up, 6.75 .to 7.25; pigs mcstlv 25 cents lower; bulk desirable 7.40 to 7.50. SHEEP: Receipts 33,000; fat lambs 23 to 50 cents lower; sheep and yearl ir js 25 cents lower: feeders 25 higher; fat lamzs to packers largely 11.00; choice 88 pound yearlings 9.75; ewes top earlv 5.50; come back feeder lambs largely '9.50; one load with short fat end to shippers 10.25. New Haven. Conn. Dec. 12. The Yale 1922 completed football schedule, as announced today by the Blue foot ball manager, has two contests in place of those announced tentatively in the schedule given out last week. They are Carnegie Tech October 7 and North Carolina October 14 in place of Vermont and Tufts. All games will be played here except Princeton. DIVERSIFICATION OF CROPS IS NECESSARY Memphis, Tenn., Dec. 12. Diversifi cation and greater "food and feed" pro duction was urged by banker and planter at the opening session today of the convention of cotton growers, mer chant and representatives of financial institutions in the Southern cotton States, called to b-.'gin a campaign for the limitation of cotton acreage in 1922. FRIENDLY DOG WAS TRAITOR TO MASTER New closed: second second fourth 100.00; LIBERTY BONDS. York, Dec. 12. Liberty bonds 3 l-2s. 95.30; first 4s, 97.06 bid; 4s, 96.50: first 4 l-4s, 97.32: 4 l-4s. 96.86; third 4 l-4s, 37.70; 4 l-4s, 97.28; victory 3 3-4s, victory 4 3-4s, 100.00. Albany, Ga., Dec. 12. Fred Tomer's friendly dog proved an unconscious traitor to his master during a raid on his place in Thomas county by prohibi tion officers Saturday, according to a story told by J. W. Griffin, Federal prohibition agent here, today. The dog went along with the officers and led them to various places where whiskey was hidden until they had found twelve gallons of moonshine. Tenter was arrested. New York, sliver 66 3-4. MVicji dollars SILVER. Dec. 12. Foreign bar 10 2-4. Start a Bank Account lust now in the cheerful, thoughts wander away Take a few dollars opening a bavmgs regular intervals. at carefree season of the year, let not your from the serious aims of - life. and lay the foundation for a, prosperous future Account in this bank. We will add 4 per cent Charlotte Bank and Trust Company M. A. Turner, Pres. 2J4 W. K. East Trade. Street. Foreman. V. I'res. J. II. Ivcech, Cashier
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 12, 1921, edition 1
13
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