The Montgomery advertiser. [volume], January 21, 1917, Page EIGHT, Image 8

About The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982

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COTTON IS UNDER
PRESSURE ALL DAY
♦ AND PRICES DROP
Selling Orders Pour fn
and Unusual Activity
Prevails for Session
' ORLEANS, LA,, Jan. 20.—Cotton
WM under pressure through almost the en
tire session today, the Heaviest kind of sell
in* being aroused by fear of more extended
submarine warfare, by the report that Swiss
reservists In this country had been called
back home and, late In the day, by the fall
of If points In spots here and the report
'that spots were weaker In the Interior.
Prices fell 46 to 62 points In the early
trading, recorded 20 to 26 points on profit
takln* by shorts but later fell off again
tindefr continued selling, closing at a net
toss for the session of S3 to SO points.
The market opened at the decline and
weakness quickly * developed, prices falling
I and 10 points between fluctuations on some
months. Brokers said selling orders had
been flowing in on them since the olose
yesterday. Stop loss orders were reached
eg the long side In greaA numbers before the
day was very old. Increasing the pressure
an the market.
Unusual activity, for a week-ehd session
prevailed ^throughout and a large volume of
business was done, much of which ap
parently came from outside sources.
DAILY COTTON MARKET
Part
Movement.
c’ptsJ
Ex- jSaleajStock.
New Orleans, If.94
Galveston, 17.60
Mobile. 17.60 .
Savannah, 18.60 ..
Charleston, 18.00 .
Wilmington. 11% .
Norfolk, 17.IS ....
Baltimore ..
Boston, 17.86 .
Philadelphia. 17.16
New York, 10.90 ..
Minor ports .
2124
oeso
10200 4070
19080 1800
12S0
18S
80
847
349
107|
S01S
4899
468
4951S3
S22S09
9286
182474
80940
51177
103048
6583
10600
2266
159581
50141
Total today, receipts 14,493; exports 88,
879: stock 1,462,437.
Total for Veek, receipts 1<I,493; exports
33.679.
Total for season, receipts 5,849,089: ex
porta 3.533133.
Interior
Movement.
Re- Shlp-lSales.|3tock.i
c’pts. m'ts.J*
Houston, 17.80 ...
Memphis. 17.75 ...
Augusta,. 17.88 ...
Bt. Louis .........
Cincinnati.
Little Rock, 17.50 .
Balias. 16.65 .
Montgomery. 17.50
2857 8254
3842
851
4286
218
864
3319
524
4359
260
1086
800
125
260
1086
806
10,86?;
207784
335500
141612
30481
23755
40502
Total today, receipts
17,702: stock 779,640.
shipments
fr Johnston. jStorm Report j
M- NSW YORK, Jan. 20.—Today** market 1
g ' opened slightly better than closing prices
but every one seemed to have noma cotton j
Yfor sale. A panicky condition Immediately!
>?, occurred due to an absolute dlrth of buying
* orders and the* reaching of stop limits. As
I far as the public Is concerned, the future |
% market is going through a valley of un
it certainty and therefore outfelde trading -Is |
II limited. An analysis of statistical facts, j
j however, will only lead to belief in higher
>5 prices. The uncertainty surrounding what !
£ this year’s planting operations will bring j
forth Is becoming a factor, but we must not
overlook the fact that the mills of .the world ]
' cannot spin, averages or prospects abd with >
exports 36 per cent greater than last year, I
with spinners tattings greater than last j
Y year and with n rapid decrease in the
visible supply, we cannot advice other than |
buying of contracts for ultimate results.
Liverpool Is due 25lfc points down for 1
*£ May contracts. The oil market was weaker i
l today with fair activity. The export sttud- !
* t^on remains very unsatisfactory and unless
* America Is in a position to consume far ;
J more than she ever has beforo we feel that
" dll Is destined to lower prices.
JOHNSTON 8TORM * CO.
l: COTTON FUTURES i
% i ■! i e ' "
V NEW YORK* Jan. 20.—Cotton closed
j steady.
M. High. IiOW. Close.
i January ..;... 17.14 i«.7* list
Y, March .. 17.30 10.30 10.90
i May ••.•••••• ........ 17.56 10.90 17.14
Y July .17.41 10.93 17.12
> October . . 10.30 15.90 10.01
i - -
;Y NEW ORLEANS, Jan. 20.—Cotton closed
l steady at a net decline of 32 to 30 points,
i High. Low. Close.
~ January ... 10.40 10.38 10.38
‘ March . 10.34 *10.35 10.52
?£■ May . 17.00 10.50 10.64
f July .17.10 10.00 10.77
i October .15.91 15.50 55.02.
| Duggan-Maginnis Report
| NEW ORLEANS, LA.. Jan. 20.—The pre
f clpltous decline which started last Satur
day was continued In the forepart of the
Y week and prices sold over $6 per bale below
Y the high point of that day. This decline
fmet heavy buying around 1004 cents, where
It was sharply checked. r
H'. The spot demand from sofae localities
< is said to have Improved, but there is not
t the urgent cry for cotton that was heard
‘ ’ last fall. ,The distant months have lost
• their premiums and the hedge holder may
} decide to tender his staple, for the present
, differences do not allow him sufficient mar
:h-i gtn for carrying charges. Unless, he de
-•* livered this cotton he would have to buy
Y ' back his hedges at a disadvantage. It
j does not seem though as this would ma
( I tertally affect the market except that most
-< cotton here Is of a high grade character
* ? and may not attract the ready buyers that
i lower grades would.
{ The spinners takings compare very favor*
i ably with those of last year, showing an
Increase of 10.000 bales over last year. For
' the same period last year 357,000 bales were
taken.
Y, Of courso unsettling conditions will arise
owing to the turmoil of war and for the
present we hesitate at taking any definite
stand on the cotton market. We prefer to
advise scalping: with sales on any good
bulges and purchases on breato.
DUGGAN-MAQINNIS Sc CO,
NEW ORLEANS SPOT COTTON.
NEW ORLEAN8. LA., Jan. 2d.—8pot cot
ton steady, 19 points off. Bales on the
; spot 2,790; to arrive 1,280 bales.
Good ordinary .15.44
Strict good ordinary !. 15.94
*'Low middling .. 16.44
Strict low middling .*.16.69
Middling ... 16.94
Strict middling . 17.13
Good middling . 17.31
Strict good middling . 17.56 ,
When You Think of
| Marble Think of Us
;x-r
If you want that work done in
Spring, call us up now, or you will
be disappointed.
Georgia Marble Works
: J* 214 N. Lawrence Phone 1778
Your motor should work and
give good service when it is all
right—but sometimes it is not all
right— and then you should have
\ expert service and have it quick.
« Call 706 for prompt attention.
MOSLEY ELECTRIC CO,
122 N. Perry
( »
. ■ • * I
Local Cotton
*■■■' ... .. ... ■ —— m»
Official quotations of tho Mont com ary
Cotton Exchange aa based on actual trades
mado yesterday ara given below. Where no
sales are actually scheduled the quotations
are for the buslnesa transacted on the day
before:
Middling . 18.11
Strict good middling . 18.00
Oood middling . 17.88
Strict middling . 17.88 t
Middling . 17.60
Strict low middling . 17.2S
Low middling . 10.88
Strict good ordinary. 18.60 ,
Oood ordinary . 18.00
Sales officially reported, none.
The 1oc*l spot market was quoted nomi
nal Saturday, with no sales reported by
local warehouses. Tbs drop In futures as
a result of continued bear attacks was kept
up Saturday. New York futures dropping
80 to 84 points, and New Orleans 84 point*.
Spots on the former market were 46 points
off. with middling quoted* at 16.90, while
New Orleans spots declined 19 points, mid
dling going to 16.94. Reports from leading
■Pot centers throughout the South show
that while quotations have been reduced
for spots following the drop In futures, very
little cotton Is betng sold, snd therefore
quotations are largely nominal. Spots are
dll out of line with futures, and the dif
ference between the quotations of the New
York cotton exchange and what Southern
holders expect to get Is vefy marked. A
local factor recently remarked. In comment
ing on the fact that futures were now be
tween 16 and 17 cents, that an offer of
16 cents made to *n Alabama farmer fot
his cotton would be received by him with
doubts as to the sanity of the man making
the offer. Having once experienced the
happiness of 20-cent cotton. Southern spot
holders are not Inclined to sell below that
figure, and many are holding for 26 cents.
It Is pointed out that spot holders have
the ultimate decision in their hands, and
although their patience may be severely
tried, sober thought and money loaned free
ly on cotton In storage should carry them
over the difficulty. *
Sinking gpell.
The sinking spell which continued to
prevail in the cotton, futuree market Satur
day brought on a wave of liquidation which
broke the market 82 a bale within a few
minutes. Buying for trade account checked
the decline, but the rally proved a feeble
one. and the market dropped back to within
A few points of the low level for the da>
Bullish enthusiasm has been badly shaken,
and the bears appear to have complete
control of the market for the present. For
several days past the market has been sent
down with regularity on the strength of
reports and surmises, often of the wildest
sort, while etrange to say the really strong
bullish arguments are altogether disre
garded. . The stage was all set for a repeti
tion of this performance at the week-end.
and the market was pulled down without
any reason alleged for such action. The
admitted strength* of the statistical position
continued good expprts, and the firmness
of spot holdefrs appear to meet with no
outside support on ths speculative market,
outside interests naturally being fearful of
entering on the bull side after the experi
ence of the market In past weeks. The
Increase in the number of commerce raid
ers, by ths arming of prises taken by the
Germans, was among ths unfavorable ele
ments In Saturday's market, no account
being taken of the faot that there should
be a rush to get cotton across to' Liver
pool while tonnage Is yet available, which
would bring about decidedly bullish condi
tions, Germany is believed to be building
at least one thousand submarines, accord
ing to decent reports, with the intention
of prosecuting sub warfare to the limit. It
would appear that -the limit of conjectures
Along this line has about been reached
on the American side, and that nothing
can happen to adversely affect the market
which has npt already been predicted by
the bears, and used by them as though It
were xn established fact Instead of a con
jecture.
Weather Conditions.
fbo weather map shows fair In West
Texas, ■ and cloudy, misty weather over tho
rest of the belt. The forecast Is for cloudy,
unsettled weather, with a rain and snow
storm coming on in the northwest, fol
lowed by a cold wave over the entire belt.
In the cotton goods market, bullish con
ditions continue to be reported. A New
York trade review says: “Business Is good
for the season. The country's leading In
dustries are sold far ahead. Retail trade
In heavy goods has been accelerated by
cold weather. Prices continue to swing
upward.'*
Levy's Cotton Letter
While an unsettled feeling prevailed In
cotton this week, especially In the early
session, the fact could not escape notice
that on the declines the market commenced
to develop resistance of Its own to selling
pressure. The Increasing strength of the
technical position, the continued large ex*
ports, light movement into sight and In
creasing anxiety regarding supplies for the
last six months of the season were the
reasons for this. There was little or no
organised support offered, but In our
opinion, the*latk of organised support will
not be felt because of the growing ability
of the market to rise on its own merits.
Much was made by the bears of the con
sumption figures for December and of the
shipping situation; also, there was a dis
position to sell the market short on the
rains and cold weather which have been
esperlenced in all sections of the belt. The
consumption figures were slightly below
comparisons for December simply because
of the holidays and the extra Sunday which
the month had and which cut out one
working day. Nearly every tone over
looked the fact that the number'of active
spindles In December broke all records,
thereby furnishing good evidence that there
was no actual decrease In consumption In'
this country. So far as exports are con
cerned we think they apeak for themselves.
Right along of late foreign exports have
exceeded receipts at the ports and this
week total shipments are considerably In
excess of the shipments of a year ago
Bears are arguing that the conditions sur
rounding exports are cutting down th«
movement and are selling short on their
argument, whereas, all the time exports are
actually on a larger basis that domestic
mills can allow to continue much longer If
they are not to be deprived of the quantity
of raw material they need this season In
order to fulfill the contracts they have on
their booka *
Bo far as the new crop season Is con
cerned. we feel that too narrow a view of
the situation is being taken. Too many
people look at, the high price of cotton
alone, forgetting that, all food and feed
stuffs are high, in proportion, and are urg
ing the farmers of the South to plant as
much of them as possible, even to the ex
tent of reducing the acreage under cotton.
Wheat has been planted on many thousands
of acres of cotton lands and weather con
ditions of the last week have been of great
benefit to the crop and have insured it*
permanency for the season on cotton land In
important sections, especially in the west
ern belt. The labor and fertilizer situa
tions alone should .prevent any thinking
man from taking too bearish a view of the
new crop. *
It looks very much as if, gradually and
with setbacks every now and then, th«
market will work up to higher levels.
JAKE H. LEVY St CO.
NEW YOHK COTTON
NEW YORK, Jan. 20.—There wai a aen
satlonally rapid break of approximately half
a cent In the cotton market here early to
day. May contrcte aold off to 16.90—53
polnta under the closing price of yesterday
and $4.50 per bale below the high level of
yesterday morning. A rally to 17.20 fol
lowed. but was barely maintained, with May
closing at 17.14. while the general list closed
steady at a net loss of 2*7 (o 33 points.
Increased uneasiness over ocean freight
affairs and rather vague rumors that spots
were being offered more freely, seemed to
be chiefly responsible for a renewal of act
ive general liquidation. The market opened
steady %t an advance of 2 points to a de
cline of 7 points but Immediate^ weakened
and for a short time seemed to be almost
demoralized. Within ten or fifteen minutes
there was breaks of 43 to 55 points from
yesterday's final quotations, with Marco
selling at 16.SO and July at 16.93. Numer
ous stop orders were uncovered, while the
suddenness and violence of the decline ren
dered sentiment very nervous. Below the
17 cenfc level, however, there was an Im
provement In demand and the market firmed
up on covering. There was also some de
mand from spot- house brokers and there
were rallies of 25 or 30 points from the
lowest. But the tone remained very fever
ish. and bulges seemed • to bring out re
newed although less violent liquidation later
fluctuations being nervous and Irregular.
The close was steadied by a final spurt of
covering. Except for press advices tending
to emphasize the hazards of ocean shipping
so long as commerce raiders remained In
action, and the talk of easier spots, sellers
around the ring appeared to be emphasizing
no fresh feature. Most of the private wires
received here from the South said that spot
holders remained firm, but some of the
looal traders have been- expecting increased
offerings with the nearer approach of an
other planting season, and the rumors cir
culating this morning mads evidently an Im
pression on sentiment.
NKW YORK SPOT COTTON.
NEW YORK, Jan. 20.-—Spot cotton antet;
middling uplands 16.90; no sale*
i ■ '
SHIPPING SHARES
CONTRIBUTE LARGE
PART IN TRADING
Steel Records Slight Gain,
and Special Stocks Make
Improvement
.J,n- Bhlppln* ih»r,l
contributed a very considerable per centage
to tne moderate operatlone of the week-end
session, notwithstanding the fears expressed
in maritime circles of a renewal of com
merce destroying * activities In American w»
Mercantile Marine common was the active
feature of the final hour at an extreme
gain of S% points, with 2* for the pre
“nd * for Atlantic, Gulf and West
1 while United Fruit rose 2 points
with l for Pacific Mall.
Utilities, euch as Ohio Oaa. Cdlumbia
Gas. Montana Power, Twin City Rapid
Transl* and North American were among
the usually Inactive Issues, sharing 4n the
movement, at gains of 2 to 6 points. Un
classified stocks, notably Sears-Roebuck,
Woolworth,' Diamond Match and Home
Htake Mining, changed hands In small deal
ings at 1 to 10 points advance.
Among the ueuarl favorites, United 8tafes
recorded a . alight fractional gain,
while Bethlehem Steel finished 15 points
above yesterday’s closing price, after early
uncertainly. Coppers, motors, equipments
and some of the more special stocks made
j variable Improvement, but rails traversed a
limited area, wjth no significant changea
Jhares.8*16" °f -tOC*UI amountcd to 210,001
I The bank statement fulfilled popular ex
| pectatlons with an actual cash gain of more
than 135,000,000 and a reserve Increase of
about $21,000,000, lifting total excess re
serves to $202,472,030 and aggregate re
serves to $818,044,000, figure, almost with
out precedent since the new system of
weekly statements became effective. .
An expansion of some $5C,000,000 in actual
loans and discounts reflects some of the
heavy financing now under way In connec
tion with new underwritings, such as ihe
United States Rubber bond istfuts and forth
coming British loan.
Bonds dealings were negligible with fur
ther irregularities, due to heaviness in the
international group. Total bales, par value
$2,800,000. United States bonds were un
changed on call during the week.
CLOSING STOCK LIST
Stocks:—
Sales In I High.(Low. Close.
hundreds.] |
Allls-Chalmers ..
Amer. Beet 8ugar ‘^...
Amer. Can.
Amer. Car St Foun. ..
xAmer. Cotton OH ..
Amer.. Locomotive ...
Amer. Smelting ......
Amer. Sugar.
Amer. Tel. St Tel. ...
xAmer. Tobacco .
Amer. sine ..
Anaconda Copper .
Atchison ..
xAtlantic Coast Line ..
Baldwin Locomotive •
Baltimore St Ohio ...
Bethlehem Steel ....
Canadian Pacific ....
Central Leather .....'
Chesapeake At Ohio ..
Chi., Mil. St St. P. ...
Chi., R. I. St Pac, Ry.
Colo. Fuel At Iron .....
Consolidated Gas ....
Corn Products ......
Crucible Steel .....••
Cuba Cane Sugar • • • •
Erie ..
General Electric ....
xGreat North, pfd ....
Great Nor. Ore. cer ..
Goodrich .
xllllnois Central .....
Inspiration Copper ..
Int. M. M. pfd ctfs ..
Interna. Nickel .
Interna. Paper .
xKan. City Southern •
Kemecott Copper ....
Lehigh Valley .
Louis. St Nash. . ...5«
xLiggett St Myers ....
xLori I lard Co. *..
Maxwell Motors ..'•••
Mexican Petroleum ..
National Lead «.
New York Central ..‘
N. Y., N. H. St Hart. .
Norfolk sic Western . •
xNorthern Pacific ....
Pennsylvania .
Ray. Consol. Copper .
Reading .
Rep. Iron St Steel ....
Seaboard Air Line ...
xSeaboard A. L. pfd ••
Sloss-Shef. S. Sc I. ...
Studebaker Corp.
Southern Patiflc ....
Southern Railway ...»
xSouthern Ry. pfd •••
Tennessee Copper ....
Texas Co..
Union Pacific . •
United Fruit ..
U. S. Rubber .
U. 8. Steel .
U. 8. Steel pfd .
Utah Copper ..
Va.-Caro. Chem.
‘Wabash pfd *'B“ ....
xWestern Union .
xWestlnghouse Elec. .
Mo.-Pac. W. I.
_ 78%
34|109%10S%|10»*
5)112*1112 |116*
7)124*112 3%jl24*
i.i.n*
219
2:
71
39*
*4*
105%
68%
>2%
415
1(2
90%
•4%
91
211*
471,
l»1*l 221*
88%| 84
1061*|1051i
|J1«
881*
82%
418
182
901*
84%
897*
211*
47%
1231*1122%
24%| 23%
88 | 84%
81 I SO % | 81
32%| 22% | 32%
88%
82%
438
183
80%
84%
*0%
21%
47%
133%
24
88
169%|189%
38%| 28 7*
00 %| 80
18 88 % | 68
90 %j 87
48%
78%
131%
42
46%
48%
78
130%
697*
104%
81
101%
48
126%
•I
887*
27%
183%
80%
17
88
31108
81 87%
189
31%
16%
232
68%
103%
81
101%
48
128%
189%
118%
36%
I *0
106
88%
90%
42%
47%
26
48%
78
120%
,276
|222
56%
26%
102%
79%
18%
68
108%
97%
31%
69
104%
61
101%
48
126%
108%
66%
27%
103%
80%
1«%
27%
I 68
16%
230%
144%|144%
164 115
4 60 % I 60%
108%
97%
21%
68%
18%
281%
144%
154
60%
114%illS%.114%
6|121%|121
22
12
107% 106%
48 | 42
29%| 29%
•I
53 %| 63
23 % | 32%
121
107%
43
29%
99
53%
33%
Total »ale» for th« day 266.800 »har.a.
a—Bid.
NEW YORK BONDS
17. 9. 2a registered .
U. 8. 2a coupon .
U. S. 3a registered .
U. S. 3a coupon .
IT. 8. 4a registered .....I...
U. 8. 4a coupon .
Panama 3s coupon .
American Agricultural 5a ...
Amer. Colton Oil 6a ........
Amer. Tel. & Tel. cv. 4^a .
American Tobacco 6a .
Anglo-French 6s ..
Atchison gen. 4s .
j Atlantic Coaat Line 11 .
Baltimore A Ohio cv. 4%a .
. Central of Georgia Consol. 5a
Central Leather 6a .
Chesapeake A Ohio cv. 4%a ...
Chi., B. A Quincy Joint 4a ...
Chi.. Mil. A St. Paul cv. 6a ...
Chi.. R. I. A Pac. Ry. ref. 4a .
Colorado A Southern ref. 4Ha .
Denver A Rio Grande ref. 6s . ..
Dominion of Canada 6’a (1931)
Erie gen. 4s ...
Illinois Central ref. 4s .
Kansas City Southern ref. 5a ...
Liggett A Myers 5a .
Lorlllard 5s .
Louisville A Nashville un. 4s .
Missouri. Kan. & Texas 1st 4a .
Missouri Pac. consol. 6s .....
New York Central deb. 6a .
N. Y.. N. H. A Hartford cv. 6a .
Norfolk A Western cv. 4%s •••
Northern Pacific 4s .
Pennsylvania consol. 4Ha .
Pennsylvania gen. 44s .
Reading gen. 4s* .
Republic Iron A 8. 5s (1940) .
St. Louts A Southwestern 1st .
Seaboard Air Line adj. 5s .
Southern Bell Telephone 5a ...
Southern Pacific cv. 5s .
Southern Railway 5a .
Southern Railway gen. 4a .
Tennessee Copper cf. 69 .
Texas Company cv. 6s .
Texas A Pacific 1st .
Union Pacific 4s .
U. 8. Steel 5» .
V a.-Caro. Chemical 5s .
. 99%b
. 99%b
. 101 b
. 101 b
. 110 b
. 110%b
. 101 b
. 103%
. 96 b
. I03%b
. 117 Hb
. 92%
. 97
. 96 %b
. 96%
102%
. 102%
. 86%
. "5%
. 107%
. 77%
. 87
,. 64%
. 99%
.. 73%
. 92 %b
.. 90
,. 104
. 103
. 97%
. 78
. 104%b
. 112%
. 106%
. 135
. 96
t 107%
. 104
. 96
. 101
. 79 b
67%
,. 101%
/ 105%
,. 102%
. 76%
. 88 b
... 105%
. 101%
. ‘ 99%
106%
. 100%
MONEY MARKET
NEW YORK. Jan. 20.—Mercantile paper
3**;. Sterling, 60 day bllle 4.72; com
mercial, 60 day bills on banks 4.72; com
mercial. 60 day bills 4.71%*; demand 4.75*;
rabies 4.7*4. Francs, demand 5.84*: cables
JL^8 4. Marks, demand 67*; cables 67
5-16. Kronen, demand 10.80; cables 10.85.
Guilders, demand 40 13-16; cables 40*.
(Lire*, demand 7.02; cables 7.01*. Rubles,
demand 28.00; cables 28.85-.
Bar silver 76*.
Mexican dollars 58*.
Government bonds steady* Railroad bonds
! Irregular.
LONDON. Jan. 20.—Bar sliver t?d P*r
ounce. Money 3 1-2 p*r cent. Discount
rates, short bills, 5 per cent; three months
5 per cent.
Jay Cotton Report
•
NEW YORK. Jan. 20.—The cotton mar
ket today had a severe decline, due to fur
ther disturbance of confidence at a result
of the German aggression at sea and the
fear our free commerce will be Interfered
with. America has too few ships for Its
foreign trade.
J. W. JAY St CO.
NAVAL STORES
SAVANNAH. GA„ Jan. 20.—Turpentine
firm, 52*; sales 200; receipts 115; ship
ments 564; stocks 18.743.
Rosin firm; sales 1.082; receipts 1,859;
shipments 1.628: stocks 78,543. Quote:
A B C D K F €.20; O €.25; H 6.27*; I €.80;
| K €.45; M f.€3; N €.85*; WO 7.0f; WW T.».
FEAR OF SEA ROVERS !
PUTS VIRTUAL STOP
TO TRADE IN WHEAT
Depression Rules From I
•Start and No Rallies
Are Recorded ;
CHICAGO, Jan. 20.—Fear of German tea
rovers put a virtual stop today to export
business In wheat and caused^ a material
*ag In. prices. The result was an unsettled
close, % to l%c net lower with May at
91.96% to $1.86% and July at 91.51% to
91.51%. Com finished % to % and lp1
down and oats o& % to %c. Provisions ♦
showed losses varying from 2% to 12 %c.
Depression ruled In the wheat pit right
from the outset and there was at no time
any Important rally. Shipping condition*
appeared to be typically outlined by a mes
sage from Baltimore saying the harbor
there was filled with boats which, owing
[ to chances of sinking oi* capture would not
venture to start for Europe. Under such
circumstances, traders here flocked to the
bear side of the market and proceeded to
offer liberally enough to keep prices tend*
| in^ almost uniformly downgrade. Par
I tlcular attention was given meanwhile .to
Berlin dispatches Indicating a likelihood of
greatly enlarged submarine activity. On
| the other hand, estimates that domestic
farm reserves were* small failed to stimulate
buying. %
Canadian shipments of much low grade
wheat to Minneapolis formed an additional
element against the bulls. Other dispatches
from the Northwest said wheat In cars that
could not go East was almost unsale
able, even at' discounts of 6 cents a bushel.
Corn fell with wheat. Rural cotaplalnts
of a scarcity of cars tended somewhat to
check the bears. Oats had no independence
and merely followed the descent of other
cereals. ' • .
Weakness of hogs and grain eased down
the provision market. Besides abnormal
.freight rates on the ocean were expected
'to curtail the outgo to Europe.
Grain and provisions ranged as follows
today!
Wheat
May ..
July <.«. ..
Corn
May .... ..
July ..
UgU—
May .... ..
July ....
Pork
May .... ..
July .
Lard
May .... ..
July .... ..
Ribs—
Jan.
May .
Cash wheat
Open. High. Low. Close.
1.88%
!•«*%
■***.
.8*14
.*6*
1.87%
*■(114
l.*i%
.88%
.88%
.88%
1.18%
1.81
1.00%
'. .»*%
.81
.88%
*9.40 89.40 89.10
10.18 10.88 10.80
13.87 16.87 18.47
reused .. follow.:
. 1.94
1.10%
1.61%
1.00%
'.**%
.00%
.86%
89.88
89.07
10.88
10.47
16.89*
16.68
Wheat No. 8 red
No. 9 red nominal.
No. 2 hard nom
No. 3 hard nominal.
Corn, No. 2 yellow 1.00%® 1.00%
No. 4 yellow .97 ,0 .99%
No. 4 whit. .90 9 .98%
Oats. No. 3 whit..37 14 49 .67%
Standard ...'.30 O .60%
•Ry. No. 8 nominal.
Barley . 1.00 ® 1.83
Timothy . 83.80 067,80
Clover . 12.00 017.60
Pork .81.00
Lard . 10.00 O>0.07
Rib. . 14.02 016.88
KANSAS CITY GRAIN,
KANSAS CITY, Jan. 20.—Cash wheat. No.
t hard $1.80% 0(1.92; No. 2 red $1.87%©
$1.90. .
Corn No. 2 mixed 98% ©97c; No. 2 white
97©97%c; No. 2 yellow 97%c.
Oats No. 2 white $7 fee; No. 2 mlved 55©
5 to.
ST. LOUIS'GRAIN.
8T. LOUIS, MO., Jan. 20.—Wheat No. 2
red $1.95©$1.99; No. 2 hard $1.95©$2.02 %;
May $1.86%©$l.86%.
Corn. No. 2 99%c©$1.06; No. 2 white
$1.00; May $1.00% ©$1.00%.
Oats, No. 2 &£c; No. 2 white nominal;
May 68 %c. V
NEW YORK PRODUCE.
NEW YORK, Jan. 20.—Butter ateady; re
ceipts 2,778; creamery,1 hlgher. Extras 40©
40%c; creamery extras, 92 score, 39©39%c;
firsts 34% ©38c.
E(|«, unsettled; receipts 4,287 eases.
I Fresh fathered, extra firsts, 4Sv; firsts
I 41 © 42c; refrigerator, seconds to firsts 26©
! 38c.
Cheese steady; receipts 1.141. 8tate held,
i specials 24%©tM%6; State Held, average
fancy 28% ©24c.
Live poultry firm; chickens 18%©19%c:
fowls 20©21c; turkeys 20c* Dressed, firm;
! chickens 20©28c; fowls 16©24c; turkeys
20 © 33c.
KANSAS CITY PRODUCE.
KAN8AS CITY, Jan. 20.—Butter and poul
try unchanged.
Eggs, firsts, 86c.
ST. LOUIS PRODUCE.
* ST. LOUIS, MO., Jan. 20.—Poultry un
changed, Except hens, 166.
Butter unchanged.
Eggs l%c. ,
CHICAGO PRODUCE.
CHICAGO. Jan. 20.—Butter unchanged.
Eggs lower;* receipts 2,173 cases. Firsts
36© 37c; ordinary firsts. 33© 36c; at mark,
cases Included, 33©36%c.
Potatoes, receipts 23 cars; unchanged.
Poultry, alive, unchanged.
BUTTER MARKET.
ELGIN, ILL., Jan. 20.—Butter. 100 tubs
at 36 %c; 25 tubs at 37c.
BANK STATEMENT
NEW YORK. Jan. *20.—The statement of
the actual condition of clearing house banks
and trust companies for the week shows
t>-*t they hold $202,472,630 reserve In ex
cess of legal requirements. This Is an In
crease of $21,034,010 over last week.
The statement follows:
Aetqal Condition.
Loans, discounts, etc., $3,441,422,000; In
crease $55,295,000.
Reserve In own vaults (b) 1566,435,000;
Increase $36,553,000. *
Reserve in Federal Reserve Bank $1$4,
879.000; dcrease $2,277,000.
Reserve In other depositories $56,731,000;
Increase $2,121,000.
Net demand deposits $3,563,810,000; in
crease S9B1S4.000.
Net time deposits $164,$69,000} Increase
$2,563,000.
Circulation $28,653,000: decrease $68,000;
(b) of which $490,062,000 Is specie.
Aggregate reserve $818,044,000.
. Excess reserve $202.472,6S0; Increase $31.
034,010.
Summary of State banks and trust com
panies in Greater New York, not Included
In clearing houso statement:
Loans, discounts. $746,190,300; decrease
$10,079,000. •
Specie $63,245,500: Increase $615,200.
Legal tenders $10,127,800; decrease $486,
700.
Total deposits $918,241,300; Increase $12,
181.000.
Ranks cash reserve In vault $63,801,700.
Trust companies cash reserve In vaults
$59,570,600. ,
WEEKLY El SAL UAL
NEW YORK. Jan. 20.—Foremost features
of the week In the financial markets were
largely of foreign origin Including the com
pletion of the new British external loan,
reduction in the l^ondon bank rate and fur
ther depreciation In rates of exchange on
Petrograd and Rome to new low records.
The new British loan Is the most at
tractive. both as to Interest yield and con
version clause, of any yet offered in this
market. The lower British bank rate seems
to be chiefly sentimental in Its effect Inas
much as the great discount banks of Lon
don have not met the new minimum quoted
by the Bank of England.
As for the Increased discounts in Rus
sian and Italian exchange, with recurrent
weakness In remittances to the Teutonic
countries, these were partly neutralised by
firmness in sterling and francs, with actual
strength in quotations on Swltserland and
the Scandinavian capitals.
Further abstention of public interest
served to curtail operations on the stock
exchange, th* dally. turn-over being rela
tively small ard more than ordinarily re
stricted to leaders and speculative favoritea
A gro.<s decline of 74 points In Bethlehem
Steel excited some comment, being accom
panied by gossip respecting the future fl
' nanclal and dividend policies of this promi
nent "war bride." Other Industrials, in
cluding I’nlted States Steel and minor equip
ments and munitions, mostly were firm to
strong. Coppers regained some of their re
cent losses on a stiffening of the metal mar
ket accompanied by prospects of the placing
of additional large orders for domestic and
foreign* consumption.
Ralls were the most backward features,
showing an irregular trend on nominal of
ferings. Some of the high priced special
ties moved upward on intimations of in
creased disbursements, but the movement in
ihe quarter was suggestive of pool activity.
I
*• v- •
We Believe In
ri ■
• V
le-In-Montgomery Week
, y • _ a ■’*■; —i.
It’s everybody’s duty and should be everybody’s pride to
/ know about and talk about and use all Made-in-Montgomery
goods. You’ll help yourself anc) your town by boosting. *
This bank wants to see more factories here, and offers its
service and resources to the limit of sound banking
principles.
t
National Bank
UTTLE CHANGE IN
HIGH PRICES ON
THE LOCAL MARKET
Eggs Again Go to 45 Cents
Per Dozen
Retail
A car of cabbage. a car of potatoes, and
a car of seed Irish potatoes were received
on the local' market Saturday. In addi
tion to the carload lots, shipments of grape
fruit on a smaller scale were also received.
The most noteworthy advance in price at
the week-end was in onions, which reached
a new high level of 97.50 per hundred
pounds. Cabbage and potatoes showed no
change for the first time In several weeks.
The retail produce market showed an
advance in eggs to 45 cents per doaen ire
tall, while turkeys are stilt selling at SO
cents a pound dressed, and chickens 25
to 60 cents apiece.
Quotations on Fruit and Produce cor
rected by M. P. Wilcox.
Apples—Extra fancy Winesaps $6.^6; ex
t.**a fancy, Assorted varieties 95.60; fancy
Red Streak 95.25.
Lemons—Extra fancy Verdelll, ISO's 94.75;
fancy Verdelll 94.60; choice ISO's 94.26; each
grade 25c less.
Irish Potatoes—Fancy Jersey QIanta |2.50.
Oranges—Sixes 126. 260 and 288, 92.40;
all other sixes 92.60.
Grapefruit—Fancy, slse 16-46-54-94, #9.15.
Tangerines—Assorted sixes, 94.00. . .
Canadian Rutabagas—Choice selectedfteiock
sacker, per cwt., 92.75.
Cat>0frgar*?hrow Fork Danish. #ey eirt,
96.60. W *:.• > '.Vvv;
Lima Beane—New California, lOe lb.
Pea*—New California, black-eye, 7c lb.
Onions—Fancy White Pearl, (Selected
Stock) 97.50; Fancy Globe, 97.00.
Bananas—91.60, 91.76, 92.60 and 92.00.
Almerla Grapes—Extra fancy, heavy
weight, 96.60; fancy, heavy weight, 96.00;
No. 1 heavy weight, 95.50.
Cocoanuta—Big Money Brand. 100 to sack,
average weight, 176 lbs., 96.50. ,
Poultry and Eggs.
Eggs—Fresh, 40c a doxen.
Chickens—Hens, 40c; friers, SO to S5c.
Ducks—50 td 60 cents.
Turkeys—Live, 20c pound.
8'aplo and Fpncy Groceries.
Sugar—Granulated, 3V*c; fancy T. C., Sc
pound.
Meal—Roller, 96 lba. 91-80; Water Ground^
91.85.
Coffee—Roasted, 12 to 35c; No. 3 can 10c
to 91.00; Prime 10019c; Fancy 20026c;
Peaberry, 20c; ArbuckleSs, $19.25 per case;
Montgomery basis: Mocn and Java Blend.
25 032c.
Extract*—Vanilla, 98; Lemon, etc.. 97 per
gallon.
Molasses—Sugar House, 36c; Prime Cen
'trlgu&l, 30 0 35c; Corn 8yrup, 24 0 35c; Geor
, gla Cane 36 to 40c.
Vinegar—Distilled, in half barrels, 15c;
White Wine stock. In barrels, 16c; Pure
Apple, in half barrels, 23e gallon. v
Klee—7c pound.
Dried Fruits—Fancy Peaches, 25 lb. boxes,
9Vfcc lb.; California Prunes, 25 lb. boxes,
8 k to 11c; Apples, 12 ox. cartons, 7Ho lb.
LIVE STOCK MARKETS
KANSAS CITY MVS STOCK.
KANSAS CITY. Jan. 20.—Hors, receipts
1.500; steady.
Bulk . 10.SO® 11.00
Heavy .. 10.95® 11.05
Light . 10.50 ® 10.90
Pigs . 9.00® 10.50
Cattle, receipts 200; steady.
Prime fed steers . 10.85® 11.50
Dressed beef steers . 8.50® 10.75
Southern steers . 8.50® 9.00
Cows .. .......... 5.25® 9.00
Heifers ... 7.00 fall.01
Stockers and feeders . 7.00® 9.45
Bulls . 6.50® 8.50
Calve* . 7.00® 12.00
Sheep receipts. 800; steady.
Lambs . 13.50®14.15
Yearlings . 11.50® 12.50
Wethers . 9.75® 10.50
Ewes . 9.50G10.25
CHICAGO LXVE STOCK.
CHICAGO, Jan. 20.—Hogs, receipts 21,
000, estimated Monday 85,000; steady at
yesterday's average of : lower.
Bulk . 10.80 ® 11.05
Light .10.50® 11.05
Mixed . 10.65 ® 11.15
Heavy . 10.70&11.20
Rofagh . 10.70 ® 10.85
Pigs . 8.25® 10.15
Cattle receipts 600; steady.
Native beef cattle . 7.60® 11.76
Western steers . 7.50® 11.00
Stockers . 6.75® 8.75
Cows and heifers . 4.70® 10.10
Calves . 10.00® 14.75
Sheep, receipts 7,000; steady.
Wethers . 9.85® 11.00
Ewes . 7.50 ® 10.25
Lambs . 11.85@14.4Q
COFFEE MARKET
NEW YORK, Jan. 20.—The market for
coffee futures was quiet again today with
fluctuations rather irregular but narrow.
The recent deoiine seemed to have strength
ened the technical position and business
was considered largely in the way of even
ing up commitments for over the week
end. Prices opened unchanged to 2 points
higher, but were barely sustained with May
selling between 8.57 and 8.40 and closing
at 8.58. The general list closed net 1
point lower to 2 points higher. Sales 22,760
bag.s
January .. 945
February . *.49
March
April
May
July
August .m
September . 9 74
8.(2
8.(5
8.58
8.82
October
8.82
November ... j g3
December .\. 997
Rio r», 10c; gin to.
4 s. 10 4c. No fresh offerings were re
ported in the cost and freight market ex
cept for Santos 4 s well described at 10.75
London credits for shipment on a neutral
steamer.
Official cables reported no change in the
5,ra*'*,an _m*rkets. Victoria cleared 8,000
•fYork* Brasilian port receipts
21.800 bags; Jundiahy 16,000 bags.
DUGGAN, MAGINNIS ft CO, COTTON MERCHANTS
VARIETIES -PLACE, NEW ORLEANS, LA. \
MmUra NEW ORLEANS COTTON EXCHANGE, etc.
Orders solicited for the purchase aad sals of cottoo for fstore dellnrr.
Correspondence Invited.
COMMISSION ON FUTURE CONTRACTS flB.M PER HUNDRED BALES.
CREAM WANTED
Ship us your i cream. We pay Elgin quotation straight de
livered, for butter fat, and equalize Express charges to your
nearest market. We remit on 5th and 20th of each month, with
itemized statement of daily weight and test. We have ample
capacity to take care of all cream you ship us. Write us so we
can put your name on our'quotation list and will mail you every
Saturday the Elgin market quotation which we pay for butter
fat the coming week. Elgin quoted this week 38 l-2c per pound.
The Selma Creamery
'Selma, Alabama■ ■ ,r:
IE M. VJiC
is the biggest element of com
petition in transactions v?- * -
€©tB<D)nti <& C<D>fW®im (M
We try to make service the* ^ v
key-note of our relations with ■
our customers. . > ^ -
Members New York CoHen Exchinfe; New York Produce Exchanfe;
Chicago Beard el Trade
27 William Street > New York
BRANCHES' Anderson. *, Cj Durham. N. Cj Charleston, 8.C.; Opelika, Ala.
DRY GOODS MARKET
NEW YORK, Jan. 20.—Cotton goods were
steady. Yarns were lower. LJnena were
firm. Burlaps demand waa more active.
Knit goods were firm.
COTTON SEED OIL
NEW YORK, Jan. 20.—The cotton seed oil
market Closed easelr.
Spot . 12.40 bid.
January . 12.40®12.80
February . 12.18® 12.42
March ..’ ... 12.41 ® 12.42
April . .......... 12.28® 12.45
May
July .. .......
August .. •
Total sales, IS. 500 barrets.
12.30® 12.81
12.30® 12.33
12.31 @12.32
12.32® 12.33
COTTON
BROKERS
Members New York Cotton Exchange
and New York Produce Exchange.
Orders aolicited for purchase or sale of
cotton and cotton-seed oil for future
delivery. Correspondence invited.
Market letters and telegraphic advices
sent upon request without charge.
CHAS. FAIRCHILD & CO.
27 WILLIAM ST.. NEW YORK
Established 1896
JAKE H. LEVY & CO.
. COTTON BROKERS
305 Baronne St., Sew Orleans.
Order® solicited for the
purchase end Bale of
cotton for future delivery
Telegtaphlc advices and
market letters at our
expense upon request.
CORRESPOSDESCB SOLICITED
Is effective la traatlog
unnatural discharges;
pain less, nou-polsonous
and will not stricture.
Relieves la 1 to 6 days,
soIX BY DlCMUan
Parcel Post U desired — Price St, or S toll lee SJ 75.
TIE IUXS OlgtSx*oL CINCINNATI, *
John W. Jay Sam B. Keen
J. W. Jay & Co.
25 Broad St
NEW YORK
MEMBERS
New York Cotton Exchange ‘
New Orleans Cotton Exchange
New York Produce Exchange
Associate Members
Liverpool Cotton Exchange
Orders solicited for the pur*
chase and sale of Cotton
and Cotton Seed Oil for fu
ture delivery. Liberal ad
vances made on' consign
ments of spot cotton for de
livery on contract. V
FREE! FREE!
A New Red Inner Tube for each tube
that proves bad. This Is our guarantee
and you will find us dependable.
RED Tl'BES.
S0x3 ... $1.70
30x3 H .. 1.90
32x3 Vb .. 2.10
31x4 ... 2.35
33x4 ... 2.75
34x4 ... 290
36x4 ... 3.10
TIRES.
30x3
80x3*4
32x3 *
33x4
34x4
36x4 v
37x5
. $5.65
. 7.00
. 8.00
. 11.00
. 11.75
. 12.40
. 17.50
many t-Acepuonai nargains in ail
other size tires and tubes. All mall
orders promptly filled. Goods shipped
subject to your approval anywhere C. O.
^RUDOLPH TIRE CO.
1235 ARC II ST.. PHILADELPHIA.
I Send akctch and dearription of your invention I
I lor advice aa to probable patentability. Pateota V
I ae cured by oa are noticed in Scientific American I
I without charge. Send for free Hand Book on I
1 Patent* and Trade-naarka. 71 year*' MptrtanC*. |
IIIIMM £ rn 62SF.Stmt.Wishington.0.C.
| munn ft UU. “Prwngt. Palladia Service.”