The Birmingham age-herald. [volume], September 04, 1902, Page 7, Image 7

About The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950

Image provided by: University of Alabama Libraries, Tuscaloosa, AL

                
STOCK MARKET
CHANGES [ROOT
It Was Governed Largely by
Different Influences.
READING AGAIN TO FRONT
List Received What at First Threat
ened to Be Serious Set-Back on
News of Accident to Presi
dential Party.
New York, September 3.—The course o£
the stock market today was In marked
contrast to that of yesterday, lh that it
was governed largely by different In
fluences, although Reading and some of
the other coalers were again to the for
ward. Opening with a renewal of the
previous day's bullish enthusiasm and
strength the list received what at first
threatened to be a serious set back on
early news of the accident to the Presl
dentall party. Rumors more or less con
flicting were numerous and the list un
derwent a general recession. As soon as
the extent of the disaster became known
the market recovered the greatest part
of its strongest undertone but for a time
there was a marked decrease of opera
tions. Later, however, the early activity
was resumed and the day as a whole
was the largest In volume of the present
season.
The last hour witnessed an extraordi
nary spurt in Pennsylvania, that stock
selling up to 168%, a net advance of five
points on transactions involving over 100,
000 shares. The advance in this stock
was accompanied by rumors crediting
the road with control of Reading. An
other reason advanced in explanation of
Pennsylvania’s strength was the rather
good showing made in the company’s
report for the first seven months of the
year. Net earnings on the lines direct
ly operated by Pennsylvania for the
period named, show an increase of over
$2,500,000, while the company’s lines west
of Pittsburg and Erie show an increase
of more than $1,500,000. Interest continues
to center largely in Readings and the
common opened with a material advance
on h^avy transactions. The gain wa3 al
most entirely wipeA out as soon as the
Pittsburg incident became known. Sub
sequently, however, the stock more than
recovered this loss, selling up to 78*4,
closing at 76Vi and registering a net gain
for the day of more than a point on
transactions aggregating over $285,000
shares. The other Reading issues on
moderate trading made fractional gains.
There were no material changes in the
other anthracite stocks, except in New'
Jersey Central, which declined four
points. In the soft coal group Norfolk
and Western was the feature, the stock
scoring a substantial gain on very heavy
trading. Pittsburg C. C. and St. Louis
on very light transactions made a net
gain of over 6 points, and C. and O., in
which operations were quite extensive,
also closed at a material advance. Labor
Commissioner Wright's report on the
strike situation excited little comment. In
many quarters the report was regarded
as distinctly favorable to the miners.
Trading in Reading had every indica
tion of competitive buying and reports
. of a triangular contest involving Penn
sylvania, Morgan and Gould interests
were prevalent. Pennsylvania’s shat-p
advance toward the close, alreary referr
ed to, gave color to these rumors, but
nothing tangible came from any authori
tative quarter.
Ip addition to Reading common new
high records were made by Atchison,
Baltimore and Ohio, Norfolk and West
ern, Pennsylvania, St. Paul, Detroit,
Southern preferred, North American,
Wheeling and Lake Erie, Sloss, Sheffield
steel issues, Southern Pacific and ser
* eral less conspicuous stocks. Marked
strength was shown by Illinois Central,
Nety York Central. Rock Island, Denver
and Rio Grande. Manhattan, Sugar Amal
gamated and Anaconda Copper and Inter
national Power. On the curb northern se
curities were again very strong, with a
new high record. Monetary conditions
continue satisfactory, although a fair
amount of money was placed at 6 per
cent. The prevailing rate was 5% per cent.
Reports from Washington agree that the
treasury is prepared for any possftlle
money stringency. In brief there promises
to be abundant resources to meet the
crop movement Contrary to expectations
no transfers were made by the sub
treasury.
The bond market continued very active
and showed some irregularity on profit
taking. Total sales, par value, $4,185,000.
United States bonds were all unchanged
on the last call.
New York Stocks.
Storks- Open High Low Cts
Atchison.96% 90% 95% ' 95%
Atchison pfd.105% 105% 104% 105%
Amer. Sugar Refining.132% 133% 182 1 32%
Brook. Rapid Transit.. 68% 09% 68% 69%
Chesapeake and Ohio. 55% 57% 56% 57
Copper. 69 70% 69 69%
Colorado Fuel.91% 81% 79 80%
Brie.43 43% 42% 42%
Louisville and Nash....154% 154% 153% 1537;
Manhattan L.138 137% 135% 136*%
Missouri Pacific.117% 119% 117 ns%
M.. K. and T. pfd .... 68% 08% 68% 68%
Norfolk and Western.. 74% 78% 74% 77%
New York Central..,. 164% 166% 161% 166%
Pennsylvania.164 168% 104 168%
People's Gas.105 106% 105 106%
Republic Steel.21% 21% 21% 21%
Republic Steel pfd _,vy, so% 79% 80
Reading.75% 78% 74% 76%
Ruck Island.192 192% 19V4 192
Southern Pacific .. .. 80 80% 79% 79%
Southern Ry.40% 40% 39% 39%
Southern Ry pfd .. .. 97 97 90% 96%
St. Taut.187% 18»4 187% 188%
Texas and Pacific .... 64% 64% 53% 63%
Teun. Coal and Iron ,. 70% 71% 70% 71%
United States Steel.... 41% -.1% 41% 41%
U. S. Steel pfd .90% 90% 90% 90%
Union Pacific .112 112% 111% 11?
U. S. Leather .13% 13% 13% 13%
Wabash pfd ..18% 48% 48% 48%
Western Union .95% 9G 95 95
Baltimore and Ohio.. .110% 116% 115% 116%
Slogs. 70 78' 70 77
Illinois Central.172 173% 173
bends.
United Slates refunding 2s, reg.1081/
United States refunding 2s, coupon! !lOSV
United States 3s, registered .looaj
UOTHRAH & CO.
Members of Chicago Board of Trade and
New Orleans Cotton Exchange.
Booms 1 and 2 Alabama National Bank
private leased wires to New Torn. N..
Orleans and Chicago.
COTTON, STOCKS AND GRAIN,
All purchases and sales are made direct
on the exchange for which the order Is
^Correspondents—J. H. Parker a Co. r
■W Lee & Co.. Purnell. Hagaman A Co
New York; Fairchild A Hobson, New Or
leans; Ware A Leland, Chicago.
Reference—First National Bank of Bir
mingham First National Bank of Homa,
TELEPHONE NO. UK.
Special attention given to orders over
telephone and orders sent from out of U*
*** \ \ \ V
MURPHY & CO.
(Icoorporatad.)
ALABAMA NATIONAL BANK BID’S
Private Leased Wires Direct to Ns*
York. New Orleans and Chicago.
COTTON, STOCKS <P GRAIN
NEW YOKE OFFICE-BO. 61 BROADVIAT.
offices la principal cities throughout th*
South.
Write for our Market Manual and booh
Containing Instructions tor traders.
Phone No Mi
John M. Caldwell. George B. Ward.
CALDWELL & WARD
BANKERS and BROKERS.
2013 First Avenue.
High-grade Investment securities a
specialty.
OTTO MARX & GO.
BANKERS AND BROKERS.
Monov i_ianed on Real Estate at 5 and
6 Per Cent.
2028 First Avenue.
MORTGAGE LOANS
Place your mortgage loans direct
with the United States Mortgage and
Trust ?Co. of New York. Capital, sur
plus and undivided profits over $5,000,.
000. Interest rate the lowest.
C. GAZZAM, ABENT,
Room 16, Chalifoux Bldg.
United States 3s, coupon .106%
United States new 4s, registered.134%
United States new 4*. coupon .134%
United States old 4s, registered .108%
United States old 4s, coupon .109%
United States 5s, registered .105
United States os, coupon .105
Southern Railway 5s .121
Wisconsin Central 4s . 93
Financial.
New York. September 8.—The Com
-mercial-Advertiser's London financial
cablegram says:
The stock market here today was list
less except in Americans. There was
some French activity In foreign bonds,
consols went to 94. Americans opened
good and hesitated, sagged to parities
and then hardened on the opening In
New York. They dipped on the report of
the accident to President Roosevelt, but
rallied on the announcement of his es
cape from serious Injury. The close was
feverish, far under the best, except
Reading railroad which bounded to 40.
Arbltraguers have been quietly shipping
thousands of these shares fortnightly for
months past and London believes that
the rival Interests are now balanced. It
expects that the fight for domination
will soon become acute.
Coal railroad shares become prominent
on the rumor that the strike would be
settled within two weeks. Sixty thousand
pounds sterling came In. Austria would
664,000 bullion. Consols call for £4,500,000
tomorrow, but the government disburs
ing freely relieves the pressure. Paris ex
change Is 25.19; Berllng 20.48%. The straits
settlement are buying silver on the drop.
Money on Call.
New York, September 8.—Money on call
firm at 41466 per cent; closing bid and
asked 6®5Me Prime mercantile paper 6H@
6 per cent; sterling exchange steady 4.86,
6.25W4.86 for demand and at 4.83®.84 for
sixty days; posted rates 4.85®4.8514 and
4.871464.88; commercial bills 4.83@4.85. Bar
silver 52; Mexican dollars 41; government
bonds steady; state bonds inactive; rail
road bonds Irregular.
Trsasury Statement.
Washington, September 8. —Today’s
treasury balances exclusive of the gold
reserve show: Available cash balance
8209,265,465; guld 3116,004,718.
Clearings and Exchange.
St. Louis, September 3.—Clearings *8,
071,035; balance *643.907. Money steady 5®
6 per cent. New York exchange 86c dis
count.
Cincinnati, September 8.—Money 3%®6
per cent. New York exchange 10c dis
count. Clearings *3,695,250.
Memphis, September 3.—Clearings *584,
438; balances $131,305.
Philadelphia, September 3.—Clearings
*^.,232,883; balances *2,766.066.
Baltimore, September 3.—Clearings *5,
123,930; balances *611,431.
Boston, September 3.—Clearings *22,582,
695; balances *2,437.625.
New Orleans, September 3.—Clearings
*2.831,969. New York exchange par; com
mercial *1 per 1000 discount.
Chicago Change.
Chicago, September 3.—Frost Just over
the Canadian border and fears that it
would drop down as far as Iowa tonight
put corn shorts in a state of fright today
and brought good bulges in all grains.
The advances In wheat and oats were
largely in sympathy with corn. There
was a good general trade and at the close
both September and December wheat
were up l@l%c, September corn l%c up,
December corn lc higher, September oats
l%c higher and December oats 6c up.
Provisions closed unchanged to 10c down.
The leading futures ranged as follows:
^Articles— | Open.| High. | Low. | Close.
—Wheat— I "| j
Sept . 70% I 71% | 70%| 71%
Dec . 675» 68% I 67541 68%
May . 69%; 70541 69541 70%
Corn— I I I
Sept . 58 | 59 | 57%j 58%
Dec . 43% 44 | 42% | 43%
May . 3976! 40%| 39%| 40%
Oats— I I I
Sept (old) ... 26%i 27 | 26541 27
Sept (new) .. 34%! 35541 3<%l 35%
Deo (new) ... 31541 3154! 31 | 31%
May . 8154! 32 ! 81 | 31%
Mess Pork | I
Sept .I 16.75 | 16.85 | 16.70 | 16.70
Oct .| 17.00 | 17.07%! 16.90 | 16.92%
Jan .I 14.82%! 14.95 | 14.82%) 14.87%
Lard— I I I
Sept .I 10.50 | 10.55 | 10.50 | 10.52%
Oct .I 9.70 ! 9.75 | 9.70 | 9.72%
Jan .I 8.25541 8-33 | 8.27% 8.32%
Short Ribs |
Sept .! 10.27%! 10.27541 10.26 10.25
Oct .I 9.85 | 9.85 i 9.70 9.77%
Jan .! 7.77%! 7.85 | 7.77%| 7.8U
Cash quotations were as rollows:
Flour—Easy.
Wheat—No. 2 spring. 72®73c; No. 3, 68@
70\ic; No. 2 red, 70$4®71$4c.
Corn—No. 2 yellow. 63c.
Oats—No. 2, 2Si,4®29c; No. 3 white, 32@>
37%c.
Rye—No. 2, 50%c.
Rarley—Fair to choice malting, 50@63c.
Flaxseed—No. 1, $1.38; No. 1 northwest
ern. $1.43.
Mess Pork—Per barrel. $16.70016.75.
Dard—Per 100 pounds, $10.45010.50.
Short Rib Sldos-Dnose, $10.20010.25.
Dry Salted Shoulders—Boxed, 8*9®8$4c.
Short Clear Sides—Boxed. S^iQ'lOlic.
Whisky—Basis of high wines, $1.31.
Clover—Contract grade, $8.85.
On the produce exchange today quota
tions were:
Rutter—Steady; creamery 15@19c, dairy
13Vfe®17%c.
Cheese—Firm, 10® 1 "\c.
Eggs—Steady; fresh 17V4c.
If you eat without appetite yon need
Prickly Ash Bitters. It promptly removes
Impurities that clog and Impede the ac
tion of the dlgestlce organs, creates good
appetite and digestion, strength of body
and activity of brain.
$2500—100x160, 5-r house,
South Highlands; easy terms.
Ebora & Jones.
COTTON IMS
OVERJI l BALE
Government Report Shows Poor
Condition of Crop,
MARKET IS VERY BULLISH
It la Expected That a Stampede of
Short* Will Take Place To
day in the Liverpool
Market.
New York, September 3.—The cotton
market opened Arm with price* three to
six ponts higher and following the call
for a time continued to work steadily up
ward In the face of unsatisfactory cables
from Liverpool and reports of further
recommendations In the cotton belt, nota
bly In the central and eastern divisions.
The chief supporting factor was the
belief that the September government
report due at mid-day would show a much
lower condition of the crop than hereto
fore reckoned with. Liverpool Was not
tardy In responding to the firmness here
and Europe contributed a goodly num
ber et-buying orders believed to be for
covering purposes. While there were re
actlnary movements later in the morning
from time to time, the general course
of the market was upward with Wall
street a strong and enthusiastic buyer
of the winter months.
Trading was exceptionally active
throughout the early session. The gen
eral impression was that the govern
ment would give an average condition of
70 or 72 as against 81.9 last month and
71.4 last year.
At 12 o'clock the advance was 10 to 14
points with with the tone strong. Then
came the announcement "64, Washing
ton” and Instantly the whole market In
rapid motion started upward with the
shorts panic stricken. Wall street bulls
pressed their advantage and the public
was an eager buyer.
Speculation was very active all the rest
of the day and despite flurries of profit
taking with slight reactions the general
ruling of the market was strong with
November at one time thirty-one points
above the close of yesterday.
The close was firm and net 23 to 30
points higher. Total sales were estimat
ed at 750,000 bales.
The special government rainfall bulle
tins gave showers to good rains over the
central and eastern belt, but the drouth
has stricken western districts which re
mained dry and hot. The fact that Texas
reported a condition of 53 and Alabama a
condition of 54 with conditions since the
report was made up, unfavorable to the
crop In those states led to the predictions
for a short crop. Near the close local
shorts were greatly disturbed by claims
that Liverpool will tomorrow advance
more than the five to six points due,
owing to a probable stampede of the
European shorts. The report that Pres
ident Roosevelt had been seriously Injured
In a trolley ce accident made only a tem
porary effect upon market at mid-day,
the late telegrams from the south report
ed advances in spot cotton of ft to %c.
New York. September 3.—Steady; mid
dling 976; net receipts 50; gross 3231; sales
1285; stock 57,265; Great Britain 2057; coast
wise 200.
Total today; Net receipts 13,766; Great
Britain 2057; export continent 1296; stock
191,021.
Consolidated: Net receipts 73,112; Great
Britain 7746; export continent 4068.
Total sUnce September 1: Net receipts
63,850; Great Britain 7746; export continent
1668.
New Orleans Market.
New Orleans, September 8.—During the
first part of today there was very lltttle
business transacted In the market for
spot cotton. Neither buyers nor factors
showed much disposition to trade pend
ing the receipt of the government month
ly report. When the report was read
placing the condition at 64, an unprece
dentedly low lever, factors at once ad
vanced their prices. The sales were 3700
bales, Including 1200 to arrive. Quota
tions advanced 76c.
In the contract market bureau day Is
always exciting no matter to what ex
tent the trade may previously discount
government utterances, and today was no
exception to the rule. Between the call
and the receipt of the bureau report
there was considerable covering by shorts
and buying for the long account, and
price* moved back and forth feverishly
over a varying range of about 7 points,
standing at 11 a. m. 10 to 11 points above
last evening's closing record. At this
level came the bureau report, which as
tonished operators on either side. Prices
at once shot up over 20 points and for a
time the market was wildly excited; but
with the first paroxysm over, matters
quieted down rapidly, the market closing
steady at net advances from yesterday's
prices of 17 points on September, 25 on
October and 27 to 28 points on the other
months.
New Orleans, September 3. — Cotton—
Futures steady. September 8.46418.47, Oc
tober 8.46478.47, November 8.46®8.47, De
cember 8.46478.47, January 8.47@8.48, Feb
ruary 8.46@8.4S, March 8.48@8.49.
New Orleans, September 3. — Cotton
firm; sales 3700 bales: ordinary 7 3-16C,
good ordinary 7 U-16c, low middling 8 3-16c
middling 8%c, good middling 876c, mid
dling fair 974c; receipts 2056, stock 42,555.
Dally Statement.
Galveston—Easy, middling 8 9-16c; saleB
2400; receipts 3689; stock 36,861.
Mobile—Steady, middling 814c; sales 200;
receipts 297; stock 3316,
Savannah—Steady, middling 854c; sales
486; receipts 6060; stock 31,621.
Charleston—Firm, middling 8%c; sales
100; receipts 904; stock 3534.
Wilmington—Firm, middling 814c; re
ceipts 1404; stock 10.530.
Norfolk—Firm, middling B54c; sales 9;
receipts 73; stock 2530.
Baltimore—Nominal, middling 9c; stock
1000.
Boston—Steady, middling 9c; net re
ceipts 32: gross receipts 270.
Philadelphia—Firm, middling 964c; stock
1790.
St. Louis—Steady, middling 8 9-16; stock
11,656.
Memphis, September 8.—Cotton closed
steady at 1-166764C advance. Middling 8V4c;
sales ISO; receipts 167; shipments 683;
stock 6891.
Liverpool Market.
Liverpool, September 3.—Cotton spot
moderate business; prices 1-lfid higher;
American middling fair 5 13-32d; good
middling 5 5-32d; middling 5 1-16; low
middling 4 3-32d; good ordinary 4 27-32d;
ordinary 4 19-32d. The sales of the day
were 7000 bales of which 500 were for
speculation and export, and Included 6500
American. Receipts 3000 bales, including
800 American. Futures opened firm and
closed feverish. American middling Sep
tember 4.56®4.57, buyers; Beptember-Oc
tober 4.46, sellers; October-November
4.40, sellers: Nnvemher-Deeember 4.37,
Belters; December-January 4.S5(fr4.36, sel
lers; January-February 4.36, sellers; Feb
ruary-March 4.34674.35, sellers; March
Aprll 4.34, sellers; April-May 4.33@4.34,
sellers.
Dfy Goods.
New York, September 8.—Market closes J
with a stronger tone following the gov
ernment report on the cotton crop. Buy
ers have been anxious to purchase ahead
and sellers less willing to accept orders
at current prices. No open change In
quotations. Woolen goods are firm with
a fair demand.
Cotton Letter.
C. W. Lee & Co.'s Letter to H. D. Coth
ran & Co.
New York. September 3.—The bureau
report Is beyond comprehension. It might
have been 74 or even 72, or at worst 70.
But how the figures can be 04 no one
knows; but the figures have been Issued
and have to be reckoned with. We are
not concerned with the accuracy or the
mistakes of the bureau. Such a condition
may be out of the way as much as was
last year's estimate of 9.700,000 bales and
the crop turning out 10.700,000. The real
Importance to be attached to the figures
Is that the crop Is not a big one and the
weather has been unfavorable. The world
will need 11,000.000 bales this year and we
fail to see where the cotton is coming
from. It Is going to be a big year In cot
ton speculation. That much Is beyond
question. Prices will be higher than the
present level. The advance may come
soon, and may not come Urn'll later.
The situation deserves careful study,
for there will be a lot of money made on
the long side of the market before an
other planting season. Buy cotton on
every decline during the fall when the
crop is being marketed. Late In the year
the price will advance more easily.
New York Cotton Futures,
Months— Open. High. Low. Close.
January.8.41 8.64 " 8.41 8.64
February . 8.32 8.52 8.32 8.53
March . 8.32 8.54 8.32 8.54
April . 8.38 8.50 8.38 8.54
May .8.35 8.54 8.35 8.64
September. 8.54 8.75 8.52 8.75
October . 8.47 8.75 8.49 8,73
November. 8,40 8.63 8.35 8,65
December .... .... 8.40 8.64 8.40 8.64
Seaboard Air Line.
Baltimore, September 3.—Seaboard Air
Line common 32% bid; do preferred 52%@
52%; bonds 8894088%.
The Coffee Market.
New York, September 3.—Spot Rio
steady; No. 7 nominal; mild, firm; Cor
dova 8011%.
Futures opened steady 5 points lower,
following the lead of somewhat easier
European markets and were quiet all
day with practically no change from the
opening figure. On the call there was
enough foreign and Wall street demand
to give the market steadiness. Importers
sold In a spasmodic way and there was
light room selling on the reaction theory.
The features of statistics was found In
clearances of 112,000 bags for the United
States and New York arrivals of 213,000
bags. The market closed quiet, net 6 to
10 points lower. January showed the loss
of 10 points. Sales amounted to 20,000
bags, Including September 5.3605.40; De
cember 6.50; January 5.55; February 5.GO0
6.05; March 5.7005.75; May 5.85; July 5.900
6.95.
The Metal Market.
New York, September 3.—Great weak
ness developed In tin In the home market
today, coupled with a decline amounting
to 40 points, which makes a perpendicular
drop of l%c within two weeks In the price
of the spot article. Even at the present
level, consumers are taking only what
they require from day to day. The pri
mary reason given for the break today
was the heavy offerings In the far east
ern markets which Influenced a sharp de
cline at London and In turn the New York
market. The English market broke 10s
for spot, which closed at 17123 and 12s Gd
for futures, closing at £123 2s Gd. The
local market closed at I27.05@27.10.
Copper localy was dull and weak, but
not much lower, standanl spot closing
at $10.7(*511.50; lake $tl.30@11.60; electroly
tic $11.20@11.35 and casting at $11.20@11.35.
The London price was lowered 3b 9<1 spot,
closing at £51 13s 9d and futures at £52.
Lead was unchanged in both markets,
here at 4% and abroad at £10 18s 4d. Spel
ter remained steady and unchanged; Lon
don quoting £19 7s 3d and New York at
650. Domestic. Iron markets ruled quiet
and firm without change. Warrants nom
inal. No. 1 foundry, northern, $23.00(Q>2i!>.00;
No. 2 foundry, northern, $22.00(523.00; No.
1 foundry, southern, $22.00^23.00; No. 1
foundry, southern soft, $22.00@23.00; Eng
lish markets were quiet; Glasgow closing
at 57s 6d and Middlosboro at 53s.
Live Stock Market.
Chicago, September 3.—Cattle receipts
10,000, including GOO Texans and 7000 west
ern; choice natives steady to slow; good
to prime steers $8@8.05, poor to medium
$4.25@7.50, Stockers and feeders $2.50@5.2T>,
cows $1.5005.50, heifers $2.50@6, canners
$1.50@2.50, bulls $2.50@5.25, calves S3@>7.25,
Texas steers $303.50, western steers $3.75
05.75.
Hog receipts 23,000; market 30 to 15c
lower. Mixed and butchers $7,200/7.75, good
to choice heavy $7.5007.85, rough heavy
$7.1507.40, light $7.2507.65.
Sheep receipts 22,000; lower; good to
choice wethers $3.o0O4, fair to choice
mixed $2.5U@3.50, western sheep $2,500
3.75. native lambs $3.5006, western lambs
$3.7505.25.
Cincinnati, September 3.—Hogs quiet,
lower. $5.6007 50. Cattle (lull, lower, $20
6.75. Sheep Hull, $103. Lambs dull, $30
5.35.
Cotton Seed Oil.
New Orleans, September 3,—Cotton seed
oil: Prime refined, in barrels, 30c; of
refined, in barrels, 35c; prime crude loose,
nominal.
New York, September 3.—Cotton seed
oil dull; petroleum steady; rosin steady;
turpentine, rice, molasses steady; spelter
firm; domestic 6%c.
Theodore Price’s Statement.
New York, September 3.—-I take this
means of answering hundreds of tele
graphic Inquiries reaching me from all
over the country In regard to the cotton
market. It is impossible for me to reply
to them individually. The report of the
United States government issued today In
regard to the cotton crop Indicates con
ditions of 64, which is the lowest on rec
ord for September; It Is, and has been
conflrmod and foreshadowed by all other
reports, public and private, for the past
three week3. The most optimistic con
struction that It Is possible to put upon
the government report does not Justify
the expectation of a crop ca 10,000,000 bales
of American cotton.
The world consumed during the year
lust ended 11,000,0th) bales of American
growth, and In order to make this supply
suffice reserves everywhere are practical
ly exhausted. For the coming season the
world will require, conservatively es
timated, about 11,250,000 bales of Amer
ican cotton. There is then a theoretical
deficiency between the maximum supply
end the minimum of at least 1,250.000
tales, an actual deficiency is commercial
ly unthinkable. The price must go ti> a
figure that will check consumption. This
price is by no means reached ts yet.
America bus a practical monopoly of
cotton production. Peace reigns univer
sally throughout the world. Industrial
and commercial enterprise is unciUcked
and expanding. Next to rood stuffs cot
ton Is the most Important yind necessary
staple consumed by civilized society, a
think it entirely probable that before any
effect upon consumption is apparent cot
ton will be selling at 10 cents a pound in
the south, and doubt if the advance will
stop there. If producers or tbe Article
are wise they will demand and obtain
that figure.
THEODORE H. PRICE.
Murphy & -o.'s Grain Letter.
Chicago. September 3.—Wheat has been
strong all day. The buying of December
has been the very beBt kind, and the
feature of the market was the scarcity
of offerings, the principal selling being
by the pit crowd and a little profit-tak
ing by local longs. September has been
equally strong, but the trade was not
so large as that In December. Selling by
Armour was the feature la this month,
but the stuff was well taken, and had but
little If any effect on prices. The ibos^
shows September and December about la
higher. The market was affected by the
weather In the northwest. Frosts were
reported In Manitoba and parts of North
Dakota, and predictions are for more
tonight. Cables were firm, showing small
advances. The frost scares had great ef
fect In corn. There was general buying
and shorts covered very freely, advancing
prices materially, and the market held
firm at the advance, with ofrermgs very
light. The eouthwest was a large buyer
and commission houses as a rule had buy
ing orders In. The government report was
moderately bullish. Oats were affected to
some extent by strength in wheat and
corn, and the market after a steady open
ing became firm and advanced with other
markets. Brokers were the best buyers.
Commission houses took late months
freely, and shorts covered. There was
some buying on the poor grade of oats
coming In. Hog products have been about
steady today, In Bplto of the wesknesa
of hogs at the yards. October stuff was
easiest of the list. There was a general
demand for January, induced to some ex
tent by the frest ecare In grain. There
wns fair commission house and broker
buying. Selling was scattered.
THE LOCAL MARKETS
Local Cotton MarkeL
Good middling . 894
Strict middling . 894
Middling . 894
Strict ldw middling . 8
Low middling .. 794
Local Iron MarkeL
IF . 818.00
SF . 17.60
8F . 17.00
4F . 18.60
Grey forge . 16.60
IS ... 18 00
89 . 17.60
Local Stocks and Bonds.
Corrected Dally by ^aiawcil dc Ward
Bankers. 2015 Fb-*t -*v*nue. Tele
phone 753. (See Card.)
Bid Asked
Ala. State bonds, class A .*....100 108
Ala State bonds, class B.106 108
Ala. State bonds, class C.102 104
Alabama State bonds, funded..110 112
Ala. Con. Coal & Iron Co., com. 88 92
Ala. Con. Coal & Iron Co., pfd.. 88 92
AJa. Con. Coal A Tron Co., bds..lW 106
Ala. National Bank .110 117
Ala. Steel A Ship Bid. Co., pfd. 75 87
Ala. Steel A Ship Bid. Co., bds.. 98 97
Ala. Steel A Wire Cc*. pfd-oom.100
Ala. Trust and Savings Co. .. .100
Avondale Cotton Mills . 85 95
Avondale Land Co.... 75
Auditorium .- . 50 75
Bessemer L. & I. Co. 24 26
Birm. Ice Factory Co.....90 W
Blr. Realty Co., com.. .. 60 65
Blrm. Realty Co., mort. bonds. 95 99
Blrm. Realty Co., prior liens.. 68 102
Blrm. Ry., Lt. A P. Co., com.. 87 95
Blrm. Ry.. Lt A P Co., pfd..110 113
Blrm. Ry.. Lt. A P. Co., bonds. 103 105
Blrm. Ry. A Elec. Co. bonds. 108 113
Birr* Savings Bank .....100
Il ham Trust A Savings Co.150 170
Blrm. Water Works Co. bonds..110 118
Dlmmick Pipe Co., common —150
East Lake Land Co. 60 75
Ensley Co...600 800
Ensley Land Co., old .. 5 7
I Ensley Land Co., new .100 140
First National Bank .200 800
Hotel Hillman . 75
Jefferson County flav. Bank..110 120
Jefferson County Bond*—
4s .101 105
5s.106 110
63.117 121
Martin Cracker Co...... ..101 116
North B’ham Land Co .16 19
People's Sav. Bank A Trust Co. 115
Southern Club 6s .7T> **8
Bless. I. A S. Co., 1st mort bds.109 112
Sloes I. A S. Co., gen. mtg. bda. 84 87
Sloss-Sheffleld, com. 64 66
Sloss-Sheffleld, pfd . 90 92
T. C. I., gen. mtg. nonds.99 102
T. C. I., Tenn. Dlv., bonds....108 111
T. C. I.. Blrm. Dlv. bonds ....110 112
T. C. I. Cahaba dlv. bond* .,..108 107
T. C. I. Debardeleben dlv. *>d*.102 106
T. C. I.. Pratt dlv. bonds .100 105
Williamson Iron Co., bonds .... 00 75
Birmingham City Bond*.
Birmingham city bonds can be bought
on about a 5 per cent basla.
Fruit and Produce.
Butter—Best Elgin, 29c; Mississippi, best
grade. 25c; Mississippi, second grade, 23c;
good country, 16@20c: Cooltlnr 12t4c
Apples—Per barrel, northern stock, $3.50;
choice, $3.00; per crate, 76 to $1, green
stock.
Peaches—Per crate, 75o and $1.7$.
Plums—$1.25@1.60.
Pears—Per crate, $1; per barrel, $2.25,
three bushels.
Irish potatoes—Per bushel, 55c.
Tomatoes—Home grown, 60®76c. basket
Squash—Per crate, $1.00.
Beans—Per bushel, $1.25@1.50.
Bananas. Per Bunch - Culls, 60075c;
straights. $1.2501.60.
Eggs—Per dozen, 20c.
Lemons—Per box, $2.50*13.00.
Limes—Per hundred. $1.00.
Poultry—Best friers, extra large. 30c;
Alabama. 18tg25c; medium. 12t4@18; broil
ers, 10'S'12Hc; hens, 35c; Pekin ducks,
55c; puddle ducks, 17@20c.
Onions—Per pound, 2c.
Cabbage—Virginia, lc per pound.
Peanuts—Per \ ind. 40«c.
Dried Apples—California evaporated. So;
1-lb packages, 9M*c; sun-dried, 6c.
Canteloupes—75c@$l. 60.
Watermelons—Per hundred. $6.00@16.00.
Local Stapls Groceries.
Flour—Tennessee patent, S3.Du; half pat
ent $3.65.
Sugar—Granulated, 5c; Y. C„ 4140.
Coffee—Green. 844@1144ci Arbuckle's
pr.kages, $10.80; Lion packages, $10.30;
Cordova packages, $10.80; Torto Hlco,
$10.80.
Meats—Dry salted ribs, U'*4c; clear bel
lies, $tl.D0; dry salted rib bellies, til.50;
hems, fancy. 1344c; medium. 13c; Cali
fornia. 10c; breakfast bacon. 14c.
Cheese—New York full cream, 1344c.
Lard -Leaf, 1144c.
Compound Lard—Snow drift, 9c.
Molasses—Centrifugal. 15®3Sc; sugar
house, 2U@35c: Georgia cans. 36c.
Corn—Mixed. 76c; white, 82c.
Meal—Pearl. $1.38; water ground, $1.33.
Hay—Per ton. choice timothy, $18.50;
No. 1, $17.50; clover, mixed, $16; prairie,
$13; Johnson grass, $12.50@14.50.
vjats—Mixed, 44c; white, 48c.
Cotton Seed Meal—Per ton, $21.00.
Bran—Mixed, $20; purs wheat. 321
$13,500—Rents $1200; cor
ner, 100x190; gilt edge prop
erty. Eborn & Jones.
Hear tbe pianist play the
flute
every afternoon at Stone’s.
Established March 12. 1900.
SMITH, MAY COMPANY
Correspondents of
THE ODELL COMMISSION CD.
Rooms Nos 1 snd 2 Elyton building, up
stairs—Corner 20th st. and Morris ave.
Stocks, Cotton, Grain
and Provisions.
Quickest Service in the South. *
WE INVITE COMPARISON.
No Interest charged on trades, snd divi
dends paid on stocks bought on magi ns,
giving all advantages of actual owner te
purchaser.
PROMPT AND CAREFUL ATTEN
TION GIVEN TO ORDERS OVER TEL
EPHONE OR BY T .EGRAPH. Orders
by telegraph may be sent C. O. D., and
wo will prepay notice of execution.
Telephone 847.
Our Dally Market Report mailed on ap
plication.
The FIRST NATIONAL BANK of Birmingham, Ala.
STATEMENT TO COMPTROLLER (Condensed) Juty 16, 1902.
RESOURCES.
Loans and Discounts.$2,670,372.30
Overdrafts. 227.8S
U. S. Bonds and Premiums 103,000.00
Other Stocks and Bonds.. 10,721.00
Bank Building. 51,000.00
CASH.
In Vault.$541,121.98
With Banks.... 893,715.56
With U. S.
Treas. 4,381.90
1,439,219.44
$4,274,540.65 ,
LIABILITIES.
Capital Stock.> 250.000.CW
Surplus and Profits. 21S.0S8.M
Circulation. 50,000.00
DEPOSITS.
individual-$3,246,309.2*
Bank. 459,16250
United States. 50,000.00
S,755,471.79
>4,274.540.65
W. P. G. HARDING, President.
J. H. WOODWARD, Vice-President. J. H. BARR, Vice-President.
W. W. CRAWFORD, Cashier. A. R. FORSYTH, Assistant Cashier.
DIRECTORS—T. T. Hillman, E. M. Tutwiler, B. F. Moore, F. D. Nabers, Rob.
ert Jemison, Erskine Ramsay, F. M. Jackson, T. H. Molton, William A.
Walker, W. S. Brown, W. H. Hasslnger, Walker Percy, N. E. Barker,
W. P. G. Harding, J. H. Barr.
The officers of this bank will be pleased to meet or correspond with thoss
who contemplate making changes or opening new accounts.
J. B. COBBS, President.
H. H. Mayberry, Vice President. W. A. PORTER, Cashier.
S. MoGAUGHY, Asst. Cashier. C. M. WILLIAMSON, Asst. Cashier.
ALABAMA NATIONAL BANK
OF BIRMINGHAM, ALA.
UNITED STATES DEPOSITORY.
Transacts a General Banking Business
CAPITAL.$200,000.00
GUARANTEE TO DEPOSITORS.$400,000.00
Accounts with individuals, firms, corporations and banks solicited.
Three per cent Interest allowed on savings deposits.
fss SILVERWARE Si?" VALUABLES
while you are away for the summer in the
STORAGE VAULTS Barg“'
BIRMINGHAM TRUST & SAVINGS GO.,
Cost, according to size of paokages. From $5 up.
Southern Railwav Co.
The Great Highway of Travel North,
East, South and West.
Schedule In Effect January 6. 1902.
EASTBOUND.
| No. 22. 1 No.fc: | No. M.
Lv Birmingham j 4:30 pm] 6:10 am| 4:10 pm
Ar Anniston ...,| 7:00 pm| 8:20 am| 6:28 pm
Lv Tallapoosa .J 9:32 am 7:55 pm
Lv Atlanta .12:00 n 11:50 pm
Lv Atlanta ..12:00 pm 11:50 pm
Lv Charlotte . 8:18 pm 9:60 am
Ar Danville .11:53 pm 1:38 pm
Lv” Danville .. l:04 am~l:46 pm
Ar Richmond . 6:00 am 6:26 pm
Ar Washington . 6:42 am 8:50 pm
Lv Washington . 7:00 am] 10:00 pm
Lv Baltimore . ®:00 am]ll :25 pm
Lv Philadelphia -..|10:15 am] 2:56 am
Ar New York .12:48 pm 6:23 am
Ar Boston ..| 2:00 pm| 9:00 pm
No. 38. “Washington and Southwestern
Limited,’ solid vestlbuled train, Atlanta
to Washington: Pullman sleeping car.
Birmingham to New York: also Pullman
library observation car. Atlanta to New
York; dining car east of Atlanta.
No. 36. "U. 8. Fast Mall." carries Pull
man sleeping cars Birmingham to Rich
mond, Va,, via Atlanta; sleeper Atlanta
to New York: sleeper Birmingham to
Jacksonville, Fla.; cafe car Birmingham
to Atlanta, regular.
Dining car east of Atlanta.
1 No.S8. i No. 36.
Lv Birmingham. 6:10 am] 4:10 pm
Lv Atlanta .112:06 pmjl0:45 pm
Ar Macon . 2:25 pm|l2:55 am
Ar Helena .j 4:45 pm| 3:08 am
Ar Jesup .| 6:60 pml 6:30 am
Ar Brunswick .j 8:35 pmj 7:15 am
Ar Jacksonville. Fla.I.j 8:30 am
Ar Savannah .|12:20 am| 8:30 am
WESTBOUND.
( No. 87. | No. 35.
Lv Birmingham .|10:20 pm]12:25 pm
Lv Corona..........112:05 am 3:36 pm
Lv Fayette .| 2:40 am 4:82 pm
Ar Columbus . 4:15 am 5:55 pm
Lv Columbus .I 4:25 am 6:00 pm
Lv West Point . 5:08 am 6.37 pm
Lv Winona . 7:51 am 8:48 pm
Lv Greenwood .] 9:25 am 10:03 pm
Ar Greenville . .112:05 n 12:10 am
~No. 37 carries Pullman sleeping car Bir
mingham to Greenville. Miss.; open at 9
p. m.
SOUTHBOUND.
--- No. 19. ] No. 21."
Lv Birmingham . 6:20 am]10:20 pm
Ar Gurneo Junction . 7:50 am111:23 pm
Ar Wilton . 3:27 am|12:05 am
Lv Wilton . 8:35 am 12:05 am
Ar Selma .10:40 am 1:50 am
Lv Selma . 4:20 pm 1:65 am
Ar Mobile .10:25 pm] 7:30 am
No. 21 carries Pullman sleeping car Bir
mingham to Mobile; open 9 p. m.
^TRAINS ARRIVE AT BIRMINGHAM.
No. SflTfrom Greenville . 6:40 am
No. 22. from Mobile . 6:30 am
No. 16, from Blossburg . 8:16 am
No. 21. from Anniston . 9:68 am
No. SK>. from Atlanta .11:45 am
No. 86, from Greenville . 4:00 pm
No. 20, from Selma . 9:00 pm
No. 37, from Atlanta .I 9:60 pm
" f. S. Gannon, third vice president and
general manager. Washington. D. C.
S. H. Hardwlok. G. P. A., Washington.
D. C.
C. A. Benscoter. O. P. A., Chattanooga.
Tenn.
C. E. Jackson, T. P. A.. Birmingham.
Ala.
BIRMINGHAM AND ATLANTIC,
Schedule Effective June 8, 1902.
-- I" No. 1. No. 9.
Leave Talladega . 7:20 am 4:00 pm
Arrive Pell City . 8:33 am 5:21pm
Arrive Birmingham . 9:58 am 10:00 pm
Arrive Anniston . 7:00 pm
-- No. 1 No.47
Leave Birmingham . «:00am 4:30 pm
Arrive Pell City . 7:12 am 5:52 pra
Arrive Talladega . 10:37 am L09 pm
Trains run every day. Quickest routs
between Talladega, Birmingham and
Western points.
Ship your goods via Birmingham and
Atlantic.
JOHN C. SOLTCY, W. L. LA W,
General Manager. Superintendent
TAKE
Wbaa going to Tessa and the West
Write C. 11- Morgan, traveling passen
ger agent Birmingham, Ala, for full In
formation aa to rates, schedules, eta
B. r, TURNER, U. e. A., Dallas, Tsk,
RAILWAY SCHEDULES
In Effect April 20 at 12.01 A. M.
Arrival and departure of all trains at
Union Passenger Station. Blrm'igham.
Ala.
L. & N.—North.
Arrive. | Depart.
•No. 2. Fast Mall. N. O... 11:59 am|12:22 pm
•No. 4, Fast Mall. N. O... 9:12 pm| 9:20 pm
!No. 2, Decutr Accom.I 8:10 pm
'.No. 10, Montg'm Accom.. 7:00 pmj..
South.
| Arrive. Depart
•No. 1, Fast Mall. Cln....I 8:25 am 8:22 am
No. 7, Dacatur Accom—.| 9:26 am.
•No. 2. Fast Mall. Cln_| 3.45 pm 4:05 pm
No. 9, to Montgomery..|.| 5:25 am
BIRMINGHAM MINERAL—North.
Arrive.
•No. 40. Fast Mall, Blocton .10:45 am
•No. 42. Fast Mall, Blocton . 8:60 pm
!No. 45. Altoona Accom . 9:55 am
INo. 102, Blocton Accom . 7:15 pm
South.
Depart
•No. 41. to Blocton. 9:25 am
•No. 43. to Blocton . 2:80 pm
INo. 44. Altoona Accom . 2:65 pm
INo. 101. Blocton Accom . 5:80 am
A. G. S*—North.
I Arrive. Depart
•No. I, Fast Mall, N. 0..| 6:40 am 6:46 am
•No. 4. Pan-An. Special.,| 6:46 pm 6:60 pm
•No. 6, Meridian Accom..|12:25 pm 4:40 pm
South.
Arrive. | Depart.
•No. 1, from Cincinnati... 10:06 pm|10:l0 pm
•No. I Pan-Am. Special.. 9:65 am|10:00 am
•No. 6, Chattan'go Ac'm.. 13:45 pra| 4:80 pm
SO. R. R.—North, East, South. Wert
Arrive.
•No. 16. from Blnssburg. Ac'm_ 8:16 am
•No. 20. from Selma . 8:00 pm
•No. 21. from Anniston . 2:B8 am
•No. 86, from Washington .11:46 am
•No. 86 from Mississippi . 4:00 pm
•No. 87 from Washington . 8:60 pm
•No. 28, from Mississippi . 5:40 am
•No. 22 from Mobile aad Selma.. 5:40 am
Depart
INo. 15, to Blnssburg, Accom... 4:50 pm
•No. 19, to Selma . 6:20 am
•No. 22. to ABntston . 4:30 pm
•No. 85, to Mississippi .12:25 pm
•No. 86, to Washington .. 4:10 pci
•No. 87. to Mississippi .10:80 pm
•No. 83. to Washington . 6:00 are
•No. 21, to Ikoblls .10:20 pc
'FRISCO SYSTEM.
K. C, M. A B.—East.
Arrive.
•Nc. 205. Southeastern Limited... 2:55 pm
•No. 202, New York Express . 5:50 am
No. 205, Winfield Accom .10:04 am
Fast Lins to Kansas City.
West
I Depart
•No. 20*. Southeastern Limited...|12:80 pro
•No. 204. New York Express .110:20 pm
No. 210. Winfield Acoom .j 4:10 pm
CENTRAL OF GEORGIA—East
I Depart
•No. 2. to Macon.I 7:10 am
•No. 4, to Savannah.| 4:00 pm
West
I Arrive.
•No. 1, from Macon .f 1:45 pm
•No. 2, from Savannah .|12:20pm
Trains marked thus • run dally. Thus I
dally except Sunday.
CARROLLTON SHORT LINE RAIL
WAY COMPANY,
To Carrollton and StanseL Ala., via
Reform, Ala.
Not NoTT"
11:00 am Leave Carrollton...Arrive 4:05 pm
11:20 am Leave Stansel.Arrive 2:45 pm
11:40 am Arrive Reform.Leave 8:25 pm
JOHN T. COCHRANE.
Pres, and Qen'l Manager,
Carrollton. Ala.
IF YOU ARE GOING
NORTH
OR
NORTHWEST
TRAVEL VIA
THE EVANSVILLE ROUTE
E. & T. H. AND C. & E. I.
The beet equipped and most direct
line to Chicago and all points reached
via Chicago.
Inquirieu regarding rates, time, etc.,
addressed to representatives given
below will receive prompt and courte
ous attention.
F. P. JEFFRIES, 3. L. ROGORS,
G. P. A T. A., Gen'l Agent
Evansville, Ind. Nashville, Tsnn,
BRUC1 JEFFRIE8, T. P. A,
Atlanta. Ga.