fltlE' CHARLOTTE ifljSWS," eHARLdfrEN, , WeBNesDAy AfTEKNCJON, DECEMBERS 1S2I
17
COTTON
GRAIN
TjTARKET QUOTATIONS; FINANCIAL NEW
THE MOST COMTJCTTr. MARTTCT PAniC lCr.MW
EDITED BY STUART P WESTV 11 In VfeMttcial
Of IBS CAKOL1NAS.
EtfUor f TiM New York 6b
T-CURB
BONDS
STOCKS
ctoCK MARKET
SHOWS ADVANCE
pond Market Also Strong
Vith Liberty. Bonds Lead
ing in the Rise.
I of
i '1 ii
STI'AIIT WEST.
orrrt?ondent of The
192tl.br Publishing; Co.
;!f-.-;. .v York. Dec. 28.
:.(:-. mist bond market and n
;'irr ad v:i nee on the stock
the two principal fea
financial situation today,
(-.ids lei trio rise In their
mt the demand for other
s:ne was decidedly quicker
: than it was a week ago.
viewed upward tendency on
1 is r and t lie strength of the
,n of high class stocks, there
;E"?!ion of anticipating the
"January reinvestment de-
.
I Features 1
Br STt'AnT P. WEST.
Pir Correspondent of Tfce Nrmm
Copyright, 1021. by in Publishing
Co.
.VI "
nock market there was a
more lift than had been
eterday. To be sure. the
for most of the activity
the professional element who
i-ieir interest from om
- o.'ks to another with be
, cicrity. But the essential
not that the dealings were
(.;' professional origin, bn
i: these operators should
itered so little opposition in I
; prices. Th'is was proof 1
ic reluctance of real holders
:o sell even after such an
!hr market has had during
yrp months.
is very little to be said that
new in connection with the
noes. The facta regarding
Locomotive's financial posi
been set forth so often that
r : , nun at . every stage of the
. n e would be tiresome. It
tii comment that it is just
: .. -. h the stock at 110 as it was
that the advance is not
.,-.! ..'i present dividends or pre--.v
'ntrs or even upon the better
v, equipment business for
-:; t.:it rath re upon calculations
-.' the shares are really worth
i c uiiiilM-ed treasury assets.
. . ..;.,. 1,,. -.utiotive and other equip-
5 we:u along with American !.-
v i tei shares were strong on
s-ri ';(ii.vment of the high price
a v r at which this year's' offer
;: . e made to the company's
A short interest in Stude
;v) roughly handled. The
:; ; -'o ls were bid up and even
- ,t i : came in for atentiou. In
.-e the incentive, apparenlty.
a' the worst is known, so far
line in prices is concerned.
- 'a; fmm now on the trade situ
- quite likely to slowly mend.
---vv t'aere is the distinct likell
. ' ' t i 10 financial situation of the
i -i Sucar Company suddenly chang-
rely if the negotiations for a
;. that are now in progress,
otnf to a head,
the afternoon trading stocks
iiu- li less active and there was
r '-".) ileal of scattered profit-taking
v which prices came off from the
The markets outside of the stock
i -inse were featureless. There wus
'" iloiun' in either cotton or wheat
both markets were able to lioid
ground recently gained. Sterling
l i lie other exchanges came down
";s!i to pretty well efface yester
pain. The dya to day movement
:,e exchange market has ceased to
'r.portant. The detailed figures for
N"t fiivliff export trade showing'
;t:,no.;t the entire falling' off from
'er occurred in exports to England,
at and Italy, threw much light
" advance of the last month in
French and Italian currencies.
, ; other hand, with conflicting
regarding the German indem
v .r.e.tion and as to whether or not
i.m t.iry and February install-
t" bo met in cash, provide
.nMt- of "uncertainty which must
.;i-p.-seij of before the exchanges
upon a further definite move.
!,? tlie November traffic state -
far are turning out much
""- .':.?.r. expected that is, are mak
." r : -h less unfavorable om-
'.-! wi'i ;hf October returns i
- --t -prisiim' to see 'today the
;i- - ,1,1,1s- of the short position
'-lib up "ii these stock?. At
''lion Pacific was up over
ud otliers of the leading
'' ' !:" or more. But as soon
n -t n '1 from the short interest
: ::id these stocks .promptly
- I " ii. llcaiizinK sales made tlitni
- f : In the copper group and
',1?: hour, the equipments, steels
' 'r "-irly leaders of the industrial
MOVING BY GROtP,
Today' market was the broadest in
some lime In respect to the number or
alfterent 1shuh which figured at One
time or another hi the buving move
ment. It followed the now familiar
fashion if group movements, that is
one set of stocks taken up after an
other. First it was the equipment
stocks with American Locomotive cross
ing 110. with Baldwin Locomotive
abeve par and with American Cir and
Foundry and Railway Spring jumping
forward sharply. Then the l.iiyins"
shlfted to the shipping and ic'.uted
stocks. Mercantile Marine preferred,
for no reason other than that it 1ms
not moved for some lime, was gtvoji a
brief whirl, carrying with It American
International and Atlantic Oulf. Then
It was the turn of the tire stocks an 1
afterwards the motors. Following this
the rails, neglected for more tnan a
week, came In for their share on the
strength or the No.-ember tratllc re
ports. These, while bearing out in
individual cases the expectation of r.
heavy falling off from the October re
sults, have so far been considerably
belter than looked for.
STKEb COMMOX.
Steel, common, opened at-j SI the
price at which the 100.000 shares is to
b offered to employees. Subscfijuenily
the stock got above this flRure and
was obviously helped by the face ihat
subscription price had been nxvi so
high. Attention was again directed
to the extraordinary statistical position
of Steel common. The employees will
now over one million share's, that is,
one-fifth of hte entire common stock
cauai. it is ngurert tnat at least an
other 2.000.000 is owned by other in
vestors and would not come on the
except at very much higher
This leaves only one million
as the floating supply, which
rate that it is . now being ab
by the annual offerings to
by the. rest of the invest
will almost certainly be
i ' ' a . t ! a .
K
STORES.
I 'ec. -S. Turpentine
leu :?24: receipts !05;
lock i:?.l03.
es r1V: receipts 3.S73;
stock Sii.jt. I
1 E F (i 4.00; IT 4.0J
.1 . S ll
.-'0; N
I!
K V(.(" POTATO K.
i)cf. Potatoes firm,
white?, sacked .05 to
.40:
2.20
fff n,
11
EVERYTHING
Jn Nigh Quality
Elding Materials
tiT Shelves save time
X. nnd steps. Also they
save space. For in
stance, lining the walls
between a dining room
and kitchen obviates the
necessity of a pantry. Be
sjrf to make plenty of
shelves when you build
)r home.
CITIZENS
Lumber Company
South Boulevard
H!ones 3472-3473 5
COTTON MARKET
MAKES ADVANCE
Clear Indications of a
Broadening: Interest Show
in The Days Trading
ttj" ST 1 ART p. WEST.
SfaS1 '-arrrn-JWKH'-iit of The News.
Co()J?!9lj(, fer j;?TTB PHbllshlnK Co.
NW Yo4, nec. 28. The cotton market
S'joWctI vc?y clear iudicatinns of a broad
"ttitir jatepegt t1'j?lntf today's trading.
Llv?;-p&ol HftC!e a, eteaa.v showing after
It l'alotissd adjournment while reports
from the JpTtepUo foods msi-et were
etittouraginfe- and there wag nothing to
Indicate ihut ye8tep8y5 udvatic.R had at
tracted any iflcr3.!?s o! offinga from
the iSauth, There v.?,g n$m Utile irregu
larity at the start here owinsr to the
drculatitn of January notices, estimated
at 8.300 bales, and fl'gt prices wen,- one
po'tit lower it 8 points! higher. The scat
tering spot month liquidation was quickly
abtiorbed however anO. the market allow
ed increased activity and strength with
both January and March contracts aclline:
above the l'j cent level btrforu the end
of the first hour. This made net advances
of 20 to 24 points on the active position
and the new high ground for the bove
ment attracted scattered realizing. There
may ajso have been a. llttl-s selling on ex
pectations that 1 9 cents at New York
ivouia hring out apot cotton more freely
but no hedge selling' developed and the
market showed a very steady undertone
at reactions of 10 or 15 points from the
best.
According to local spot handlers the so-
called Christmas cotton" offering in the
South last week was in very small volume
and quite rapidly absorbed. So far this
week hey say, there has been very little
business only a few scattering lots
changing hands at about current prices.
I
Wall Street . j Grain Market I
New Ynrki OeS SR. Stocks were
active with a firm undertone at The
opening of today's .aeyskm Speculative
interest agas.n centered in equipment.?,
motors, meiala and oils, American and
t?etdwln Locomotives were in further
Nprocess of accumulation with Pressed
tsteei uar, muctenaKer, utan. stroniDerg.
Inspiration, Mexican Petroleum and
Of-neral Asphalt. Coalers were the
only prominent rails. Keadincr rising
one point. Mercantile Marine preferred.
American Woolen. People's "ias ant
Davison Chmeical hardened on short
cvoering. Moderate reactions were re
corded by Standard Oil of New .Jersev.
American "melting and Sura&tra Tobac
co. Iower money rates facilitated the
ftirther advance of prices tat midday,
call loans easing to 4 1'? per cent.
In the broader dealings rails cam;
forward, L'nlon Pacific. Southern Pacific
and St. Louis Southwestern preferred
rising one to two points.
The closing was irregular. Liberty
issues were strong and the" teen e nil
bond list showed more steadiness. Sales
approximated 850,000 shares.
ma rket
prices,
shares
at the
sorbed
employes and
meiit public.
used tin in the course of the next few
years. In a word, three or four years
from now Steel common promises to
he removed from the speculative mar
ket and become a purely investment
issue.
TRAXSl'E AXD WILLIAMS.
Despite the fact that the Transue
and Williams plants are closed down
due to the fact that Ford is also idle,
the company has just declared the reg
ular dividend of 50 cents a share.
Those on the inside are authority for
the statement that there is prospect
for an increase in this rate next year.
Transue and Williams has $16 per
share in cash and $26 in quick assets.
It makes forgings and does other work
for automobile factories.
AMERICA ICE.
The American Ice statement cover
ing operations for the year ended
October 31 was about as expected.
Earnings for the common stock were in
excess of $20 a share and we're a new
high record for the company. In
addition the company bought up over
$(.00,000 of its outstanding bonds, which
mature next April and what is more
to the point, these bonds were retired
out of earnings. In some quarters it
was expected that the dividend on the
common stock would be increased to
seven per cent regular and quarter of
one per cent extra each quarter to
hri ng payments up to eight pei- cent.
However, the only change here was
that common was made definitely a
seven per cent stock. In this con
nection it is learned that an increase
in the dividend rate to eight per cent
is not far off but something of greater
moment as likely to occur first. This
is nothing less than, a 100 per cent
slock dividend, the new shares to go
to present common stockholders share
for share. Moreover the plan, if
carried through would mean that the
doubled common stock would be en
titled to eight per cent dividend. This
would mean that the present stock sell
ing below 80 could be looker upon as
a potential 16 per cent stock. In di
cussing the earnings statement the
president of the company said that
the increased earnings were made in
spite of a reduction of 20 cents a ton in
price of the company's product.
j Bond Market
Br STUART P. WEST.
Staff Correspondent of The !Setvs.
Copyright. J81, by w Publishing, Co.
Xew York. Dec. 2S. The bond market
today continued its rise. All sections of
the list did better. Advances of a frac
tion of a point to over a point were made
by most of the standard rails and in
the industrial division also, several of
the most active issues rose sharply, for
eign government bonds did not go much
above yesterday's figures but held recent
gain while, liberty bonds reached substan
tially higher levels.
The most notheworthy among the rails
were the Pennsylvania general 4 l-2s up
nearly a, point ; Atchison adjustment
stamped 4s rising a full point ; Big four
6s up 1 1-4 at 96 1-4: Reading 1s, Balti
more and Ohio 4s and convertible 4 l-2s
each up over 1-2 a point: Missouri, Kan
sas adjustment 5s; Rock island refunding
4s and the bonds of the Mill loads.
Kealty and Improvement ns made a new
high price for 1021 when they touched 94.
International Mercantile Marine 6s went
up "more than a -point above their closing
level of yesterday and attention was
drawn also to the Sinclair 7 l-2s which
went well above 99. Armour, and Com
pany 4 l-2s and Virginia Carolina Chem
ical 7 l-2s bothVgained almost a point.
The special point of weakness in tbe indus.
trial section were General Klectric 6s,
Cubs Cane Sugar Ss, stamped and Lacka
wanna Steel fs of 1950. all losing a point.
Atlanttic Fruit 7s fell off two points frbm
the close last night and Xew York, West
chester and Boston 4 l-2s equalled their
law of 29.
Discussion in the street of the terms
of the offering of tli enew Dutch Fast
Indies loan indicates that bidding for a
part of the proposed Sioo.oi.io. 000 issue
will not occur until after the turn of the
year. The investment market awaits to
gether with this financing, the announce
ment by at least two or three other for
eign governments of their sale of bonds
in this country.
KXllASitiE.
28. Foreign ex-
5-8 per
4.1 y i-s:
on banks
franc),
Xew York, Dec.
change irregular.
Great Britain (par ?4.S5
pound sterling: Demand
cables 4.19 5-8; 60 day bills
4.16 1-8.
France fpar 19.3 cents per
Demand S.01 1-2; cables .);..
Italy (Par cents per lire): De
mand 1.33 1-2; cables 4. 34.
Belgium ipar cents per franc):
Demand 7.71 1-2; cables 7.72.
German v (par 23.8 cents per mark):
Demand .53; cables .53 1-2.
Molland tpar 4.-' cents per guilder.i
Demand 36.60; cables S6.66.
Nfway (par 26.8 centa per krone):
Demand "15.95.
Sweden (par 26.8 cents per krone):
Demand 24.90.
Denmark (par 26.8 cents per krone):
Demand 20.00.
Switzerland (par 19.3 cents per
franc): Demand 19.52.
Spain (par 19.3 cents per pesota):
Demand 14.34.
Greece (par 19.3 cents per drachma).
Demand 4.15.
Argentina (par 42.44 cents p. Ar
gentine paper dollar): Demand 33.62.
Braail (par 32.45 cents per papei
milreis): Demand 13.00.
Montreal (par 100 cents per Canadian
dollar): 94 1-8.
XEW YORK PROVISIONS.
New York, Dec. 28. Butter firmer;
creamery higher than extras 42 to
42 1-2; creamery extras 41 to 41
Ar.l. 3fi 1-'' to 40 1-2.
fca-es unsettled; fresh gathered
firsts 50 to 52; firsts 46 to 49;
erator firsts 38 to 39.
Oees iTegiar; average run
to 2i.
extra
refrig
20 1-2
CHARLOTTE COTTON.
Receipts today, 15 bales good mid
dling at 1S12C
NEW YORK COTTON.
New York. Dec. 23. The cotton mar
ket showed renewed firmness early to
day with buying' encouraged by steady
Liverpool cbales, and continued reports
of an improving business in cotton
goods. The opening was steady at a
decline of one point to an advance of
eight points. January being relatively
easy owing to the circulation of notices
estimated at about 3,500 bales. The
scattering near month liquidation was
soon absorbed, however, and the gen
eral list sold some 14 to 20 points net
higher-on covering, trade buying and a
bioadening commission house demand.
March sold up to 18.98 and all months
made new high ground for the move
ment, while October, selling ait 17.10,
made a new high record for the season.
According to advices received here the
Indian government estimates the Indian
crop at 3,464,000 bales of 500 pounds.
The early buying movement carried
the market up to 19.05 for March and
IS. 54 for May, or about 20 to 24 points
net higher. In the case of March
contracts this made an advance of 220
points from the low price touched
during the middle of the month,
which was evidently sufficient to at
tt act considerable realizing. There may
also have been some scattered selling
in expectation of increased southern
spot offerings at the 19-cent level, but.
trading became quiet on reactions of
15 or 20 points from the best, and ex
cept for profit-taking there appeared to
be very little pressure 'against the
market.
March sold off to 18.55 on the early
afternoon reaction or about seven
points net lower, but no southern
soiling developed and the market was
Quiet but steady around 2 o'clock with
active months ruling 4 to 10 points net
higher.
XEW YORK SPOT COTTON.
New York, x)ec. 2S Spot cotton quiet;
m.ddling 19.05. - - -
CLOSE NEW YORK KCTCRES.
New
barely
Jan.
March
Ma;i .
Julv .
Oct.
York,
steady.
Dec. 2S. ,Cotton closed
Open
1 S.85
18.85
18.33
17.92
16.95
TJte-h
19.06
1.3.05
18.54
18.0S
17.16
Low
18. St
18.70
18.25
17.80
16.95
Closfl
1 8. SI
18.71
18.31
17.85
16.35
NEW ORLEANS COTTOX.
New Orleans, Dec. 2S. Better cables
than due and the quick stopping of
the small number of January notices
issued, probably not in excess of 500
bales, put the price of cotton sharply
higher today. In the first half. hour of
trading the active months were sent
12 to 30 points over the close of yes
terday, the near months being stronger
than the distant. January advanced to
1S.21.
The advance was checked by realiz
ing from the long- side. Moderate
reactions occurred, but the market pie
served a steady undertone and at noon
was 10 to 13 points over yesterday's
final prices with January at 18. Oo.
Claims of a better business in the
cloth markets of the country were a
steadying influence.
Liquidation by Inogs who wanted
tl eir profits increased and finally car
ried the trading months 3 to 12 points
under the the close of yesterday, Jan
uary dropping to. 17.90. Iteports that
buyyers were quietly picking up spots,
in the interior and that spinners were
buying even short staple cotton pre
served the steadiness and at 1:30 o'clock
pr'ces were again at net advances of
three to live points.
.Ev okIjEa.n.-i s;'t roTTOX.
New Orleans. Dec. 28. Spot cotton
steady. 25 higher; sales on the spot
1,160 bales; to arrive S39.
Low middling 16.00; middling 17.75 ;
good middling IS. 75.
Iteceipt"! 6351; stcok 376.119.
CLOSE NEW OIM,i:4!S PPTl'RES.
New Orleans, Dec. 28 Cotton closed
stc.edy two points up to two
down, net.
1 Dtin
18.05
IS. 05
. . . . 17.62
... . 17.28
.... 16.-15
Jan.
March
May .
July .
Oct. .
IS. 21
18.25
17.93
17.51
16.61
o w
1 7.90
17.90
17.60
17.25
16. 10
points
Close
17.'r:
17.95
17.65
17.27
16.38
. LIVERPOOL COTTOX.
Liverpool, Dec. 2S. 'Cotton: Spot in
limited demand; prices steady; good
middling 12.11: -fully- middling 1i.7l;
middling llfifi: low middling 10.16;
good ordinary 8.61; ordinary 7. 68.
Sales 5.000 hales, including 4.S0O
American. Recepits 48,000, including
32.300 American.
Futures closed barely steady. De
cember 11.21: January 11.22: March
11.21; May 11.13: July 10.98; September
10.60; October 10.42.
j Cotton Opinion )
T. W. BICKETT
(Continued from Puge One.)
f ooyHeM, 1921. by ew PnbllsnlnK Co.
Chicago. Dec. 28. Wheat was quiet
most of the dav. Most of the nctivitv
was in the May and prices were kept ' oral
XEW YORK STOCK LIST.
Las Sa:r.
Allis-Chalmers ..
American Reet Sugar .. .. ..
Can
Car - Foundry . .
Hide & Leather pfd
International Corp..
Locomotive . .
Smelting & lief. ..
Sugar .. .... ..
Sumatra Tobacco
T. & T
Woolen . .
Copper . ....
A merican
American
America n
American
American
American
American
American
American
American
Antic onda
Atchison
Ati.. Oulf
P.ald win
Baltimore
Bt t hlehem
it W. Indies
Locomotive
& Ohio . .
'teel . .
38
28
3 4
146
59
42
107
15
53
O )
114
80
i's
92
32
9H
Ciir.adian Pacific
Central Leather
Chandler Motors
Chesapeake & Ohio
Chicago, Mil. & St. Paul
Chicago. II. I. & Pac. ..
Cbino C6"pper
Colorado Fuel & Iron . . . .
Ccrn Products
Crucible Steel . . ....
Cuba Cane Sugar
F.rie .
General Klectric
General Motors
Goodrich Co
Grea t Northern pfd
Great Northern Ore ctfs ..
TKirois Central .. . '. .. .
Inspiration Copper .. .. ..
Int Mer. Marine pfd .. ..
International - Pa-per.
Kennecott Copper
Louisville & Nashville . . . .
Mexican Petroleum
Miami Copper '
Middle States Oil
Midvale Steel
Missouri Pacific
New York Central
N Y.. N. Y. & Hartford . .
Norfolk & Western
Northern Pacific
Oklahoma Prod. & Ref. . .
Pan American Petroleum
Pennsylvania
FVople's Gas
Pittsburgh .- W. Va. ..
Ray Consolidated- Copper . .
Keaiiing .
P.ep. Iron & Steel
Roval Dutch. N. Y
Shell Trans. & Trad. . .
Sinclair Con. Oil
Southern Pacific
Southern Bailwav
Standard Oil of N. J.. pfd
.Stuae.baker Corporation
Tennessee Copper . . .V . .
Texas Co
'lexas & Pacific
Tobacco Products . . . .
Transcontinental Oil ..
Union Pacific
IT S. Food Products . .
United Retail Stores . .
U. S. Ind. Alcohol .. ..
U. S. Rubber
U. S. Steel
Utah Copper
Westinghouse Klectric.
Willys Overland .. ..
Pure Oil .... .
Atlantic Coast Line
Coca. Cola
Gulf States Steel
Seaboard Air . Line
Sloss. Shef. Steel & Iron .
Ijnited Fruit.
Virginia Cart. Chem. . .
American Tobacco ... ..'
American Zinc . . ....
Invincible Oil . . ...... .
International Harvester . ..
General Asphalt
120
49
56
18
1-2
1-2
1-2
1-S
1-8
1-4
5-4
3-4
3-X
5- 8
.;-1
3-4
7-8
1-4
:-s
l-S
New York, Dec. 28. Reactionary sen
timent has been a good deal in evidence
tcday, inspired by the belief that cov
ering lias been fairly well accomplished
so far as- Speculative shorts are con
cerned and that ttie ' general situation
has not as yet improved enough to
provide a firm foundation for higher
prices to rest upon. Besides this it is
argued that some of the cotton carried
through the decline may come out at
any itme and probably when support
is lacking as it is asserted in some
quarters that the advance has more
than discounted and probably improve?
ment for January, the extent of which
seme profess to believe will prove
disappointing to adherents of the doc
trine of higher prices. t
Spot advices are a little mixed, with
Memphis reporting a better demand
while others maintained that buying
consisted only of picking up a few
odd lots as opportunity offered. We
have not. however, heard of any one
suggesting that spot pressure was re
sponsible for the easier market and
judged by the brokers through whom
the selling has come it is chiefly for
Wall Street account nad some of the
local traders who at times handle fairly
large lines. This is healthy and if
another speculative short interest can
be built up around this level it will
pay to buy some of the contracts winch
they are willing to sell. Exports today
were 12,000 bales.
96
65
. U
139
10
36
75
32
96
40
65
-51
108
114
5-8
3-4
1-8
1-4
1-2
3-8
1-8
1-2
1-8
7-8
( Curb Market 1
27 1-2
13 7-8
27 1-X
17 1-2
7 4 1-S
12 1-S
97
7S 3-4
2 7-S
53
33
63 1-4
25 1-4
15 1-2
I
52 1-1
' 50 7-S
39
21 5-8
79 3-8
1.8 1-1
114 3-8
82 1-4
10 3-8
46 7-8
26 5-8
63
11 S-S
326
10 5-8
5 2
39 3-1
54 7-S
8 I
84
52 1-1
5 5-8
38
83
41 !-2
46 1-2
33 3-S
123
29 1-2
133
13 3-8
1 4
82 3- 1
65 7-8
witnin a ransre or one cent owing to
the resting orders in the market. Com-j
mission., houses sold May every lime it:
reached $1.16 and there Was -good buy-I
ing every time $1.15 was reached. Most
of tlie time of the trade was spent in i
discussing, the final govA'nment cro1)
report which will be isoued late this af
ternoon. The Kenera! expectation i
fcr an increased yield of wheat but
enough uncertainty surrounds thes
opinions to 'want graders to keep their
commitment evened up. Tomorrow .-,
preliminary report on winter wheat
will be bullish. Seaboard reported
l'r.(,000 bushels of wheat, partly win
ters and partly Manitobas worked for
export.
Corn followed the trend of wheat.
Trade was mostly local. There was a
little pressure to sell on the. decline
ni wueiii wmie commission nou.-ers
picked up corn on the dips. Seaboard
reported a good export demnad but no
business.
Oats prices showed little change.
Provisions were firm early on com
mission house buying.
Chicago. Dec. 28. Weakness devel
oped in tlie wheat market during the
early trading today vvoing largelv to
predictions fo 25.000,000 to 40,000.000
bushels Increase of the government
crop estimate' this afternoon. Opening
quotations, which varied from the same
as yesterday's finish to 1-2 cent lower,
were followed by moderate general set
backs and then by rallies.
Corn was easier with wheat. After
opening unchanged to 1-4 cent on the
market underwent a slight further s.ig.
Oats held relatively steady, starting
at 1-8 cent decline to a like advance,
then keeping close to the initial range.
Higher quotations on hogs gave firm
ness to provisions.
Wheat closed unsettled, at 1-S net
decline to -8 cent advance.
Corn closed unchanged to 1-8 cent
off.
success of the ticket.' He was elected
Attorney General and: began his offi
cial duties in January. 1909. In 1912
he was re-elected for the term expir
ing In 1916. His record as Attorney
General reflected much credit on his
ability, resourcefulness and energy. Be
sides acting as adviser to every de
partment -of the State eoveenment, he
argued upwards of 400 cases before the
Supreme Court of North Carolina, and
j re presented he. State before the -Fed-
Court within the Stote, the -Com-
CHICAGO
Chicago,
WHEAT
May ...
Julv ...
CORN
May ...
July ...
OATS
Mav ...
Julv ...
PORK
Jan.
LARD
Jan.
May . . ,
RIBS
Jan.
May
By STC RT P. WEST.
Conyriffbt, 1:B1. by News Publishing Co.
New York, Dec. 28. On the curb today,
among tbe. outstanding features was
Simms Petroleum. This stock rose to a
new high for the present movement on
the announcement that a new well had
been brought in by the company in the
Mexia field.
Skelly Oil was quite active and firm and
there was a steady tone in Elk Basin. Im
perial Oil of Canada developed -weakness.
The Cities Service issues continued irreg
ular, the common fluctuating rapidly over
a wide range. Marritt Oil was slightly
easier. Arkansas Natural Gas and Stand
ard Oil of Indiana were in demand during
the forenoon ami mover upward but profit
taking and a supply from the profession
als caused a latter reaction in these
stocks.
Coal stocks attracted attention among
the miscellaneous issues. Burns Brothers
B and Glen Aklen Coal were higher while
Farrell Coal was steady. , 'Todd Ship
building, on small buying orders, advanc
ed several points. The motor issues were
easier with - some pressure . against the
low priced shares. Tobacco Products were
in fair demand. United Retail Candy re
acted to its previous low tlecord but ral
lied slightly later on short covering. Good
year preferred was in supply.
Mining shares displayed activity in
in spots with the low priced shares again
tlie leaders.
The feature in tlie bond market trading
was the continued pressure against. Co
lumbia Graphophone Ss which declined
sharply to a new low. record.
money
rate 5 ;
5; last
XEW YORK MOXiiY.
New York. Dec. 2R. Call
film; high 5; low 1 1-2; ruling
closing bid 4 1-2; offered at
loan 5.
Call loans against acceptances 4 1-2
Time loans firm; 60 days, 5 to 5 1-4;
90 days, 5 to 5 1-4; 6 months, 5 to 5
1-4.
Prime mercantile paper 5 to 5 1-4.
COTTOX SEED OIL.
New York, Dec. 28. Cottonseed oil
ciosed firm. Prime summer yellow
8.35 to 8.50; prime, crude 7.10 bid; De
cember s.38; January 8.39; February
8.50; March 8.79: April 8.87; May f.04;
June 9.15; .Iuly 9.27,
.Total sales 12,100.
LIBERTY BONDS.
New York, Dec. 28. Liberty
closed: 3 1 -2s. 91. 70; first 4s,
bid: second 4s, 96.50; first 4 l-4s,
second 4 l-4s. 96.90; third 4 l-4s,
fourth 4 1-ts, 9 7.30; victory 3
100.06; victory 4 3-4s, 100.06.
bonds
9 b. 90
:7.20;
97.30;
3-4s,
CHICAGO PROVISIONS.
Chicago, Dec. 28. -Butter lower;
cieamery extras 40 to 41; firsts 32 3-2
to 39 1-2; standards 37.
Kggs lower: firsts 44; ordinary firsts
38 to 40; refrigerator firsts 36 to 38.
New York,
silver 6o.
Mexican dollars 49 3-S
SILVER.
Dec. 28. Foreign
bar
SUGAR-
New York, Dec. 28. Raw sugar eas
ier at 3.36 and 3.86 for centrifugal.
Refined unchanged at 4.01 and 5.00
for fine granulated.
XEW YORK POULTRY.
New York. Dec. 28. Live poultry
easier; turkeys So to 'la.
Dressed waek; fowls 16 to 32: tur
keys 4S to 51.
flRAIN ASH
Dec. 28.
Open
PROVISIONS.
High Low CIos
. 1.15 s
.1.04
. 54
. 56
. 38"i
. 39-4
. 14.97
. 8.80
. 9.22
1.16 'i
1.05 '
56lS
39
39
14.97
8.82
9.22
1.15
1.04
54
55 '
3 8 1 i
14.95
8.77
9.17
1.16 8
1.05
54
56
38 fx
o.t -
14.95
8.17
s.i;
8.15
8.77
J.17
S.02
S.15
CASH CHAIN.
28. Wheat, No.
48 3-4 to 49; No.
to 37 1-2; No.
CHICAGO
Chicago. Dec.
bard 1.13 1-4.
Corn, No. 2 mixed
yellow 49 to 49 1-4.
Oats, No. 2 white 37
white 33 3-4 to 36.
Rye, No. 4. 81.
Barlye 52 to 57.
Timothyseed 5.00 to 6.10.
Clcverseed 12.50 to 18.50.
Perk nominal.
Lard 8.77.
Ribs 7.50 to 8.50.
merce Court, the Interstate ' Commerce?
Commission and the Supreme? Court at
Washington, and it is aaid that every
case, argued by him . before a Federal
tribunal "was won for the State.
t IIOSEN FOR GOVERNOR.
Every successive stage of his career
demonstrated him as a man of pro
ficiency, adequate for the duties and re
sponsibilities of the- time, and fitting
him for a new and larger life that was
coming to him. Therefore when on
'November 5, 191 fi. the people of North
Carolina were called upon to express
their choice of a citizen to fill the'of
fic.e of Governor, there was. no question
of fitness and only a generous outburst
of confidence Mid trust : in a. man who
had proved worthy at every test. He
was elected Governor by a majority of
over ".$,000 and was inaugurated on
January 1. 1917.
Mr. Bickett was a member of the
Masonic order and of the Episcopal
church. He was married on Novem
ber 29, 1898. to Miss Fannie..;. Yar
borough, of" Louisburg, a woman of
rare attainments and fine character,
devoted to their home and to her hus
band's advancement as a public leader.
RECORD AS GOVERNOR.
Governor Bickelt's four year-term as
Chief Executive of the State are four
years of achievement of . progressive
legislation. During his campaign he
reused his desire to belter the con
dition of the rural life in the State
through better uccommodations for the
home, better schools and bigger com
munity centers. His inaugural ad
dress was practically written into the
laws of the Stata by the regular ses
sion of the' Legislature in 1917.
Some of the achievements of that
session Of ths Legislature, which were
recon i. tended and urged by Governor
Bicket t were:
1. Submission of the constitutional
amendment for the six months' school
term in every county.
2. Submission of an amendment ex
empting from taxation of notes and
mortgages given in good faith for- the
purchase of homes.
3. The crop lien act.
4. Act providing for the" teaching of
basic agriculture in all rural schools.
5. An act providing for the medical
inspection of school children.
6. Providing for the incorporation of
rural communities.
Improvement of highways
runner of the present law, was passed
during the 1919 session of the Legis1;!
ture. and Governor Bickett named
some of the men on this commission
who were Instrumental In working out.
the system that is now in process of
construction.
The regular session of the 1919 L-
islature, and the special session or. IS -"
: passed the revaluation act, which w.ts
jdesignel to correct evils which had
! crept into the taxation system of
' North Carolina, and which put the
, tax values on the books at their mar
I ket value.
i The revaluation act. in the language
i of the Governor: "Made the tax boolvs
f tell tho truth about property values in
j North Carolina."
j REVALUATION-
The result was that millions of dol
lars worth of property which had nev
er been on the tax books were placed
I there, on The promise that the rate
would be lowereel when all the prop
erty was nlact d on the books. Tin
deflation of values following the war
has somewhat broken down the re
valuation act, but the principles enun
ciated by the Governor and other ad
vocates of the revaluation act arc
pronounced fundamentally sound
by tat experts in ail parts of thc
country. Governor Bickett sponsor-. -d
and worked for the income tax amend
ment to 1he Constitution and was in
strumental in writing this piece of
legislation intt the fundamental law
of the State during the last general
election.
automobile tax money
by
on
ST. LOUIS GRAIN.
St. Louis. Dec. 28. W4ieat. No. 2
red 1.22: No. 3, 1.16; December 1.11
3-4: May Lit 1-8.
Corn. No. 2 white 48 1-2 .to 49
December 45 5-8: Mav 53 1 rf
Oats, No. 3 white 34 to
December 34; May 40.
1-2
54 1-2;
spendin
them.
S. Permitting absentee voting.
9. Appointment of the State tax
commission to study taxation system
and report to the next General Assem
bly. 10. Several acts looking to the im
provement of the conditions f the pris
oners, and providing for better (juar
tors for all convicts.
The 1919 session of the Legislature
continued its efforts to carry out the
policies suggested and recommended
by the Governor.
Tlie highway bill, which is the fore-
WAR GOVERNOR.
I
j As the Chief Executive of the Stat
i during the World war, Governor Bick
jett was one of the outstanding (lov
! ernors of the nation in his activities
j in furthering the cause of the nation
i in ibe war. He was in constant dc -jmand
as a speaker in all parts of tin
I country, in liberty loan drives and
either war-time; activities, home ol
these calls he answered, but eUvot 1
the' major portion of his time to help
ing North Carolina live up to her glor
ious history in martial achievements.
The result of this work is written
large into the history of North Caro
lina's part in the World war, not only
it s contribut ions of volunteer-solellers.
but also the work of the State in pur
chashvc war securities', contributing to.
the Rrd Cross, the Salvation Army,
and the Y. M. C. A. a net other organ
izations. Governor T.ickett personally went to
some of the mountain counties during
the w".r. when there was trouble there
from people dodging the draft. His
ability to clearly explain big problems
in language that every one could un
derswnid, hts sincerity and bis lucid ex
position ' helped the Government
straighten ou. the situation, in these
mountain counties.
This same ability stood him in good
stead tluring the industrial unrest fol
lowing the war when he was called in
to labor disputes to arbitrate between
capital and labor. His biggest achieve
ment in this particular line was in
the settlement of the furniture mak
ers' strike in High Point. Both sides
to this controversy had implicit fail ii
in his purposes and his desire to s c
that only the fair thing was done for
both parties, to the dispute. While with
out legal or executive authority other
than that imposed as commander-in-chief
of the National Guard, Governor
Bickett helped bring about the settle
ment of a number of these disputes
without finding it necessary to call out.
troops.
Live Stock
Copyrbjlit. 1921, by Xews Publishing; Co.
Union Stock Yards, Chicago. Dec
28 A comparatively light suppIv of
cattle arrived at the local yards to
day, wliile the runs of hogs and sheep
were larger than expected. , Big- killers
did not have anything forwarded from
other markets today. Present prices
for hogs show n good gain for the
week. Top lots of light hogs are at
the high point since the last week ia
October when the best went at $8.25.
Receipts of livestock at the local
yards today were estimated at 4.000
cattle. 23.000 hos;s. 17,000 sheen and
lambs and 1,500 calves.
CATTLE: Steers were higher.
trr.de was somewhat uneven and
good lots were in the pens. Good
cattle, sold at SS.40 while some
quality heavy animals at $7.60
ceiled more than $1 higher tha
the close of last week. Cows and
heifers were mostly 25 cents higher
while calves gained more.. Packers
paid $8 to $8.75 for good vealers while
shippers went above $9 for small lots.
HOGS: Hog trade was again up 10
t i 25 cents for good light grades. De
mand for heavy kinds was more or less
slow however and values did not show
such a gain here. Top light hogs went
at $8 to $8.25 while light butchers soi l
at $7.60 to $S. Rough packing hogs
were placed at $6 to $7 with mixed
lots around $7.25 to $7.35.
SHEEP: Lambs sold about steady.
Choice lots went to packers at $11.50
to $11.60 while good lambs sold at $11
to $11.25. Feeders went up to $10.; 5
while aged light ewes sold at
on a 25 cents higher market.
JOHN W. TODD. C. P. A. D. H. McCOLLOUGH, C. P. A.
AUDITS, EXAMINATIONS, INCOME TAX RETURNS,
BUSINESS AND COST SYSTEMS.
TODD & McCOLLOUGH
Certified Public Accountants
(North Carolina)
1 1 Galloway Building.
CHARLOTTE, N. C.
CHICAGO LIVESTOCK.
Chicago. Dec. 28.
CATTLE: Receipts 4,000: beef steers
mostly 25 fnts higher; some up more;
top 9.00h bulk beef steers 6.5 to- 8.00:
she stock strong to 25 cents higher;
Inlls strong: veal calves strong to
unevenly higher; stockers and feeders
Arm. -
j HOGS: Receipts' 23. 000 j unevenlv 10
to. 25 cents higher than yesterday's
average: mostly1 to-shippers, yard trad
ers and small packe.rs; trade on beav
iei Weights slow: big packers doing
little: top 8.25 for 150 to 170-pound
weights; 180 to 200-pound wegihts most,
ly 7.80 to 8.10; 220 to 250-pound
weights 7.50 to 7.75: packing sows
strong: pigs 15 to 25 higher; top S.50;
bulk desirable 8.25.
" SHEEP: Receipts '17.000: fat classes
generally steady; ewes strong; feeder
ljmbs 25 cents higher: fat lambs, top,
early 11.60; some held higher: light
fat ewes early 5.50; feder lambs, top,
early 3 0.75.
I I) I ' 'a -r st fi I 111 3fe VMy. IV HI! 1
in i . mi I ' & "
j Dry Goods Market
My STUART P. WEST.
Staff Correspondent of The Shtj.
Copyright, 19iBC by Xtvs Publishing Co.
New York. Dec. 28. Sheetings he'.d
firm under fairly good demand on a
basis of 7 1-4 cents net for 5.50 yard
8 cents net for 5 yards and i cents
for 18 squares 4 yards. Good business
is reported in silk and cotton shirtiuKS
and buyers . displayed . more interest in
combed yarn goods.
CHICAGO 1'OUIiTKV.
Chicago, Dec. 28 Poultry, alive, low
er; fowls 16 to 25; springs 24; turkeys
40; roosters 16.
FREE SERVICE
BROOM & BURKETT
COTTON BROKERS
219 W. Trade St.
Phones 4482. Long Distance 9985
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 wire service? Balances
settled in Charlotte promptly.
SERVICE IS OCR TOLICY.
I jx 1
You'll Smile Too When You
Have Joined Our Christmas
Savings Club
It's the one big thrift plan . which makes everybody happy
"Dad," Mother, Sister Sue, Bobby and all the rest of the
family. - -; . '
CLUB IS NOW FORMING. A PLAN TO FIT EVERY
PURSE. A MEMBERSHIP FOR ALL.
HERE'S HOW IT MOUNTS UP:
$2.50 A WEEK MOUNTS UP.... $ 125.00
$2.00 A WEEK MOUNTS UP v. 100.00
$1.00 A WEEK MOUNTS UP .j 50.00
.50 A WEEK MOUNTS UP 25.00
li
11
JOIN TODAY
Select your plan whatever
you can pay weekly for 50
weeks; you won't even miss
it. Get in the line of smiling,
happy people at our club win
dow. Pay in to yourself, these
little driblets of small change.
AND NEXT CHRISTMAS
Have a tidy Roll of Cash
when the man says: "Shall
I charge it?" Answer him
"No." Tell him that $5.00
and $10.00 Bills now are bet
ter than shopping bills on
January 1st.
There is no red tape or bother about joining. Just drop
in the bank and get your passbook, or phone us. Hundreds
of your friends are calling every day and all are smiling.
It's your move.
Charlotte Bank & Trust Co.
214 East' Trade Street.
M. A. Turner, Pres.
J.
W. R. Foreman, Vice Pres.
H. Leech, Cashier.