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The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, September 23, 1906, Image 23

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Stock Market is Still Inclined
to Lethargy
Admission That Union Pacific Is Ne
gotiating for B. & O. Has Attracted
Most Interest—Effects Will
Be Far-Reaching.
New York, September 22.—'The bank
statement today fulfilled the brightest ex
pectations and belied some forecasts from
the usual accepted experts that bad
threatened a poor showing. But in spite
of the improvement Indicated in the bank
ing position, the stock market showed lit
tle inclination to throw off its lethargy.
The course of the time money and mer
cantile paper markets towards the end
of the week was regarded as a better in
dex of the situation and of the disinclina
tion of money lenders to entrust further
resources to the uses of stock market
The amount of resources at the com
mand of the bank must supply the extra
ordinary requirements about the first of
Ofctober, and it is realized that growing
difficulty will be encountered in securing
Additional gold abroad for the benefit of
New York. The $7,422,200 loan expansion of
the week shows the continued demand for
large credits in spite of the restraint up
on stride market activity which has been
in evidence throughout the week. Esti
mates made yesterday bjf the accepted
authorities showed astonishing discrep
ancy in the item of the wreek’s cash move
ment. varying al lthe way from a gain
of over $11,000,000 by the banks to a loss
by those Institutions of over $2,000,000.
The confusion was caused by the dif
ferent accounting for the gold arriving by
Incoming steamers during the week. This
gold figures technically as withdrawal by
the sub-treaBury from the banks, as it
was covered into the sub-treasury on ar
rival in repayment of government ad
vances made at the time of the engage
ment. But in this method of accounting
the arriving gold should have figured as
gain to the banks on first arriving. There
was a confident hope amongst specula
tive operators yesterday that further
measures of treasury relief would be an
nounced befo.e the day was over. Disap
pointment of thU hope prompted some
of the selling.
The market closVi weak at a consider
able net loss.
Total sales of bonds, par value, $912,000.
Operations !h Stocks have continued
large during the week,..but were congest
ed in a few of the prime speculative fa
vorites, and price-i fluctuated unevenly
and irregularly.
First Importance by common consent is
giving to the authoriative admission that
Union Pacific is negotiating for the pur
chase of the holdings of Baltimore and
Ohio, recently sold by the Pennsylvania
to Kuhn, Doeb & Co. While the propor
tion of total Baltimore and Ohio stock
thus to be transferred represents only
about one-fifth, it has been the universal
assumption in Wall street that practical
control of Baltimore and Ohio by Union
Pacific was impending.
The consequences of the new order of
things thus involved are so far-reach
ing as to puzzle the understanding. The
operations of a railroad under one con
trol from ocean to ocean, is a departure
from established railroad policy that
would necessarily be followed in the esti
mation of the financial world by a whole
Birmingham Cotton
& Stock Exchange
Private Leased Wires. No
Interest Charge on Stocks. Bell
Phone 4030. Temporary Office
2021 Vo First ave.
No. 9 First National Bank Bldg.
The Odell 8tock and Grain Co,
Incorporated capital $250,000.
Cottort, Grain. Provisions Stocks.
. ro-jnd Floor Woodward Building.
Both Telephone., 1145.
Mer* her*—
New York Cotton Exchange,
New York Coffee Exchange,
New Orleans Cotton Exchange,
Liverpool Cottor. Association,
Chicago Board of Trade.
New York Chicago, I lew Orleans
C. H. COTHRAN. Manager,
^ Crcund Floor, First Na:..nal Bank
Place your mortgage loans direct
Wi... the (J ilted States Mortgage and
Trust Co. of New York. Capital, sur
plus and undovlded profits over $5,000,
CM. Interest rate the lowest.
C. GAZZAM, Agent.
$3$ First No-.-nal Bank Building.
i nvestment securities bought
lud sold. Loans Negotiated on
real estate at lowest rate of in
Sloeks and Bonds
Citizens Savings Bank
Stock and Bond Department
Both Phones 94.
sates, nign. low. inos?.
Adams Express.S.275
Amal. Cop, .......31200 1144* 1134* 1134*
Am. Cor. St F.... 1500 4344 43 434*
do pfd. 100 101 101 lOOVa
Am. Cot. Oil...,,. 500 35 344* 344*
do. pfd. 93
Am. Express . 250
A. H. & L., pfd. 28
Am. Ice Secur_ 2300 904* 90 904*
Am. Linseed OH. 19
do pfd. 3944
Am. Loco. 6300 76 V* 75 75
do pfd., ex-d.V. 112
Am. Smelt. St R.. 7200 165V* 1541/4 I54V4
do pfd. 300 11544 115'/* I 15'/a
Am. Bug. Ref.... 1400 I36V4 135'/a l38'/s
Am. Tob., p. c. 99
Ana. Min. Co.12300 391 389 '/a 289'/4
Atchison . 5900 1067* 106V* 106
do pfd. 500 101 101 101
Atl. C. L. 142'*
Balt. & Ohio.15800 l24'/4 123!* 12314
do pfd. 90
Brook. R. T. 3600 80 79'/a 79Va
Cana. Pacific .... 300 177'* 1767* 1764*
Cent, of X. J. 229
Ches. & Ohio .... 2100 637* 63'/4 634*
Chi. O . W. 900 1744 1744 174*
Chi. & Northw.... 100 2094* 2094* 209
Chi., M. & St. P.. 17500 1791* 177'/* 177'*
Chi. T. & T. II
do pfd. 27
C.,C.,C. & St. L. 93
Col. F. St 1. 1300 667* 661/8 5644
Col. & Sou. 300 37 37 36'*
do 1st pfd._. 66'*
do 2d pfd. 100 50 60 4944
Consol. Gas. 139
Corn Pro., ref.... 900 30'* 30'/s 304*
do pfd. 76
Del. & Hud. 900 228 224V4 22444
Del. L. St W. .. 630
Den. & Rio G...„ 200 42'* 42'* 424*
do pfd. 100 86'* 85'* 85
Distil. Secur. 3900 73 711* 72'/4
Erie... 4900 474* 47!* 47'*
do 1st pfd.. . 771/8
do 2d pfd. 70
Gen. Elec. 300 166'* 1661/4 165'*
Hock. Val. 126
111. Central . 100 174 174 173'*
Inter. Paper .... 1000 17 17 17
do pfd. BOO 80'* BOV* 80'/a
Inter. Pump . 100 48'* 48'* 48'*
do pfd. 84
Iowa Central .... 100 30 30 2944
do pfd. 100 5044 5044 60'*
Kan. City Sou... 300 28 27V* 2744
do pfd. . 6814
Louis. & Nash.... 1600 1494* 149 149
Mex. Central .... 600 21V4 21 211/4
Minn. & St. L.... 100 74 74 73
Minn., St. P. &
Sault Ste. M. 150'*
OHiua. niKii. uuw.
do pfd. . 170
Mo. PatiHo. 1400 98 87'/a 97 '.-Si
Mo., K. & T. 400 35*4 35*4 35*4
do pfd. ... .. 70'/a
National Lead ... 2800 80'/a 7974 7974
National R. R. of
Mex., pfd. 100 49 49 451/1
N. Y. Central .... 1900 143 142*1 142*4
N. Y. O. & W.... 200 49 *a 49*2 49
Nor. & West. 1500 93*4 93 93
do pfd. 90*4
North Am. .». 92
Pacino Mall . 100 37*4 37*4 37 74
Penn.19700 142*4 141*4 141*4
People's Gas . 200 89 *a 891/2 89 *a
P..C..C. & St. L. 84*1
Pressed S. C. 300 54*4 54*2 54
do pfd. 97
Pull Pal. Car.... 200 254 254 253
Reading .83300 151 148*4 148*4
do 1st pfd. 89
do 2d pfd. 98
Republic Steel ... 2700 38*4 37*4 37*4
do pfd. 987/a
Rook Island Co.. 400 27 26*4 207-4
do pfd. 651/4
St. L. & San
Fran. 2d pfd. 43
St. L. Southw.... 100 24*4 24*4 24
do pfd.. 400 58*4 58 58
Sou. Pacino .29300 96*4 95*4 95*4
do pfd. 118
Sou Railway .... 1300 37*s 36*4 37*8
do pfd. 100 97*1 97*a 97*4
Tenn. C. & 1. 166
Tex. & Pacino.... 2500 3674 35*a 36*4
Tol.. St. L. & W. 33
do pfd. 300 65 54*a 63*4
Union Pacino ....33100 18714 186*4 186*4
do pfd. 921/4
U. S. Express. 132
U. S. Realty. 79*4
U. S. Rubber. 1400 55 *a 55 55 *s
do pfd. 400 11074 110*4 I IO'/4
U. S. Steel .61300 45*4 4474 45*4
i do pfd. 2600 106*4 I06*a !08'/z
•Va.-Caro. Chera.. 100 40 *a 40 *a 40*4
do pfd.. ..'. I I0*a
Wabash . 100 19*4 19*4 19*4
do pfd.,... 44*s
Wells Fargo Ex.#. 290
West’h. Else. 150
West. Union .... 400 87*4 8674 86
W. & L. E. 100 18 18 18
WIs. Central .. 24
do pfd. 100 60 50 49
Nor. PaoiHc . 1400 215*2 214*8 214
Cent. Leather .... 200 3874 38*4 38*a
do pfd. 102
Sloss-Shef. 74*a
Gt. Nor., pfd. 1600 334 332 22274
Inter. Met. 100 38 38 38
do pfd.. .. 77*4
- Total sales for the day, 407.800 shares. _
sale adjustment of relation between the
greatest railroads systems In the coun
Rumors of the form which these re
I adjustments are likely to take have
t formed the main topic of discussion and
speculative rumors In the stock market
during the whole week. The situation
suggests a comparison with the period
of the formation of the Northern Secu
rities company. That idea in substance
involved the exchange of holdings
amongst parallel and competing lines and
was overthrown by the authority of the
government by judicial procedure. rl he
Union Pacific project is on the lines of
longitudinal rather than lateral extension
of control by the absorption of connect
ing lines. The present railroad systems of
the country are pretty strictly limited in
the field of control by north and south
lines on the map, dividing the country
into different railroad territories. Railroads
in one territory have exchanged traffic
with various connecting lines in adjoin
ing territory, and have refrained from
efforts to control connecting lines or to
form an exclusive traffic arrangement
with them on the theory that they would
invite discriminations against themselves
by the more numerous uncontrolled con
necting lines.
Further gold has been secured for New
York abroad under the operation of the
United States treasury deposits with na
tional banks against gold engagements.
But the volume of engagements dimin
ished from last week’s figure. Rising
money rates In all foreign money mar
kets, and the depletion of available gold
supplies have been the growing obstacle
to the movement. Interest rates on the
best grades of mercantile members mean
while have advanced and premiums on
time loans have widened indicating that
relief thus far secured is not sufficient
to prevent further stringency.
Business and industry are so unpre
| oedentodly active in all lines that full
demand for money in commercial chan
nels is definitely assured. Opinion in Wall
street turns more and more to expected
measures of treasury relief for the money
market ns essential to avoid harmful
pressure for credits.
Bonds have been dull and sluggish.
United States 2s declined % per cent
on call during the week.
U. S. refunding, 2s registered.104'/%
IT. S. refunding 2s, coupon .105
IT. 8. 3s. registered . 103'/%
U. S. 3s, coupon .103'/a
IT. 8. old 4s, registered .l02'/4
IT. S. old 4s, coupon ..
U. 8. new 4s, registered.131
U. 8. new 4s, coupon..*.131
Uouis. & Nash., unified 4s.IOO'/2
Southern Railway 5s .I 154%
Money on Call.
New York, September 22.—Money c* call
nominal; no loans. Time loans dull and
steady; sixty and ninety days, 7 per cent;
six months, 6% per cent.
Prime mercantile paper, 6%<0^7 per cent;
sterling exchange firm, with actual busi
ness in bankers’ bills at 483.05&483.75 for
demand and at [email protected] for sixty day
bills; posted rates. 480%@481 and 484%;
commercial bills, 479%<9'479%. Bar silver,
68%. Mexican dollars, 62%. Government
bonds steady; railroad bonds easy.
Clearing and Exchange.
New Orleans, September 22.—Clearings,
$3,035,(175. New York exchange 66#75c dis
count; commercial paper, [email protected] per cent.
Memphis, September 22.—Clearings, $565,
469; balances, $104,102.
Chicago ’Change. ,
Chicago. September 22.—Weaker cash
markets In the northwest and the easier
tone In coarse grains caused a breuk In
the price of wheat 'here today after the
market had opened firm and active. At
the close December wheat was unchanged
to He lower. Corn was down He. Oats
were oft H0He. Provisions were 2H01Oc
The leading futures ranged os follows:
Wheat— Open. high. Low. Close.
Sept. 72'* 724* 724* 724s
Dec. 7444 75'/s 7474 74V«
May . 787* 79 74 78!* 7844
Sept. 4744 47 V4 47V4 47!*
Dec. 427* 43 424* 4244
May .. 43!* 434* 43 74 43 7*
Sept. 33 7a 337* 334* 3372
Dec. 33Vs 3344 334* 334s
May . 347* 35 344* 347*
Mess Pork
Sept.18.90 16 90 16.90 16.90
Jan.13.1772 13.25 13.177* 13.22 7*
Sept. 8.90 8.90 8.90 8.90
Oct. 8.87'* 8.90 8.85 8.87'*
Nov. 8 45 8.50 8.45 8.477*
Jan. 7.80 • 7.80 7.777* 7.80
Short Ribs—
Sept. 9.00 9.00 9.00 9.00
Oct. 8.60 8.60 8.57!* 8.57 7*
Jan. 7.0772 7.10 7.05 7.IO
Cash quotations were as follows:
Flour—Firm; winter patents, $3.2003.40;
straights, $303.20; spring patents, $3.7«@
3.80; straights, $3.2003.60; bakers, [email protected]
Wheat—No. 2 spring, 79081 c; No. 3, 770
81c; No. 2 red, 72**0'72Hc.
Corn—No. 2, *T%c; No. 2 yellow, 47%c.
Oats—No. 2. 33Hc; No. 2 white, 34030c;
No. 3 white, 31H034C.
Rye—No. 2, 61c.
Barley—Fair to choice malting, 44062c.
Flax Seed—No. 1. $1.04H; No, 1 north
western, $1.10.
Tlgnothy Seed—Prime, $4.30.
Clover—Contract grades, $13.75.
Short Ribs Sides—Loose, $8.9009.
Mess Pork—Per barrel, $16.75.
Lard—Per 100 pounds, $8.90.
Short Clear Sides—Boxed, $8.7606.87*4.
Whisky—Basis of high wines, $1.29.
On the produce exchange today the but
ter market was steady; creameries, 19®
24c; dairies, 7®20Vfcc.
FtfgrS_Firrn; at mark cases included,
14018c; firsts, 20c; prime firsts, 21Hc; ex
tras 24c.
Cheese—Firm, llH012%o.
Coffee Market.
New York, September 22.—Coffee, spot
Rio quiet; No. 7 invoice, 8^4; mild steady;
Cordova, 9012%.
Futures opened irregular at an advance
of 6 points to a decline of 6 points the
gain being on steadier European cables
while the market was unsettled by the
declines in primary markets and re
ports of freer offerings of spots and a
lower basis. Trading was quiet but the
market sagged off under moderate offer
ings In the absence of support and closed
steady at a net decline of 5 to 10 points.
Sales, 24,500 bags. October. 6.20; December,
6.3606.45; March, 6.6006.65; May, 6.7006.75;
July, 6.8006.85; August, 6.90.
Metal Market.
I New York, September 22.—The metal
markets were quiet, but retained a gen
[ erally firm tone with prices showing little
| change in the absence of cables. Spot
tin#ls quoted at $38.95040.05 with some
dealers asking $40.26. Copper shows a very
firm tone with lake quoted at $19.25019.50;
electorlytic, $19019.26; casting, $18.87*4®
19.12*4- Lead Is quoted at $5.7506.02*4 and
spelter, $6.9006.40. Iron firm at recent
Live Stock Market
Chicago, September 22.—Cattle receipts,
200; market steady. Beeves. $3.9006.90;
cows and heifers. $1.3006.20; stockers and
feeders, $2,400^.60; calves, $608.
Hog receipts, 7000; market 6c higher.
Mixed and butchers, $6.2006.67%; good
heavy. $6.4006.62*4; rough heavy, $5.80®
6.05; light. $6.3606.70; pigs, $5.6606.40; bulk
of sales, $6.1006.55.
Sheep estimated receipts, 2000; market
strong; Sheep, $3.2006.66; lambs, $4.60®
Cotton Seed Oil.
New Orleans, September 22.—Cotton seed
oil: Prime, 34c; crude, 27c.
Memphis. September 22.—Cotton seed oil:
Prime crude, 29c; prime summer yellow,
unchanged; prime meal, $24; prime cake
New York, September 22.—Cotton seed
oil firm; prime crude, f. o. b. mills, 24*4®
27c; do. yellow, 38038%o. Petroleum steady ;
refined, New York, 7.50; Philadelphia and
Baltimore, 7.46; do. in bulk, 4.35. Rosin
firm; strained, common to good, $404.10.
Turpentine firm, 64®04%c.
Naval Stores.
Wilmington. September 22.—Spirits tur
pentine steady, 60',4c; receipts, 32. Rosin,
Arm, $3.60 bid; receipts, 32. Tar Anp. "$2;
receipts, 7. Crude turpentine Arm; hard,
$3; dip and virgin, $4.40; receipts, 124.
Savannah, September 22—Turpentine
steady, 01c: sales, 14: receipts, 584; ship
ments, 1083. Rosin Arm: sales, 2878: re
ceipts. 2068; shipments. 3133: stock, 77,268.
Quotations: A, H C, $3.7008.86; D, $3,850
3.90; E, $3.9604; F, $40,4.06; G, $4.0604.10;
H, $4.15: I, $4.1504.25, K, $4.460 4.50, M,
$4.6004.65: N, $6.15; WAV, $5.60.
Charleston, September 22.—Turpentine
and rosin, nothing doing.
N’ew Orleans, September 22.—Naval
stores: Fitch, $4.60; pine tar, $4.50; coal
tar. $3.50. Rosin Arm. Quote; A. H C,
$3.7003.85: D, $3.8503.90; E. $3.9504; F, $40
4.06; G, $4.0504.10; II. $4 15; 1, $4.1604.25;
K. $4.4504.50; M. $4.0004.65; N, $4.8004.85;
AVG, $5.15; WAV, $5.50.
Ware <SL Leland’s Market Letter.
Today was not much different from the
preceding days of this week. The market
was dull and prices refused to be moved
over a range that promised proAts even to
the professionals. Features were mixed,
although bearish futures predominated,
and the week closed with sentiment more
bearish than it was at the opening. Cables
were disappointing as futures were about
4 points down when they were expected to
come about unchanged. Jn spite of tills
we opened only 3 down and It was not
until late In the morning t'hat a full re
sponse to the decline in IJverpool was
made. The bullish visible supply state
ment last night seemed to have the effect
of causing some little short oovering
around the opening, which steadied prices.
The Chronicle's summary of Wfeather con
ditions for the week was bearish, and to
day’s weather map was favorable on a
whole. Reports from Texas were to the
effect that picking was progressing fast,
end that wagon receipts were increasing.
One exporter said that he received stven
telegrams from Interior points last night
asking hhn for bids on cotton. Usually of
late he has not been receiving any such
This only goes to show that cotton Is
piling up In Arst hands, which must soon
tell unless a very strong demand springs
up, which the indications certainly do not
point to.
Wrote a Good One.
From the Chicago Record-Herald.
Mark Twain has begun to publish his
autobiography. A large number of am
bitious young authors arc anxious to get
the chapter In which he explains how
he sold his Arst story.
Liverpool Decline Due to Heavy
The Market Was Steady During the
Middle Morning and Close Was
Steady at 6 to 8 Points
New York, September 22—The cotton
market opened steady at a decline of 2
to 6 points, which was better than due
on the cables as a result of the covering
for over/ the week end, on the continued
reports of steady southern markets, al
though a private cable from Liverpool
explained the decline there was due to
the liberal offerings of actual cotton. Trad
ing was fairly active, but seemed to be
mostly the evening up of accounts with
switching from October to later months
one of the features. The market during
the middle morning session was steady
and about 3 to 5 points net lower. The
close was steady with prices G to 8 points
net lower. Estimated receipts at the
ports today, 36.527 bales, against 24,415
last week and 43,861 last year. For the
wek, 298,000 hales, against 185,934 last week
and 293,723 last year. Today’s^ receipts at
New Orleans, 4928 bales, against 3146 last
year and at Houston, 13,467 bales, against
16,637 last year.
New York Cotton Futures.
Open. High. Low. Clo9<s.
September . 8.75 8.75 8.75 8.75
October . 8.85 8.85 *8.80 8.79
November . 8.97 9„')0 8.97 8.95
December. 9.15 9.17 9.13 9.15
January . 9.25 9.28 9.22 9.22
February. 9.33 . 9.29
March . 9.41 9.42 9.38 9.39
April.. 9.43
May . 9.52 9.53 9.50 9.5()
Daily Cotton Movement.
Galveston: Firm; middling, 9 7-16; net re
ceipts, 16,910; gross receipts, 16,910; sales,
1800; stock, 105,987; coastwise, 1915.
New Orleans: Steady; middling, 9Vi; net
receipts, 4928; gross receipts, 4928; sales,
2326; stock, 41,049; coastwise, 912.
Mobile: Quiet; middling, 9V6; net re
ceipts, 306; fpross receipts, 306; sales, 200;
stock, 9734; coastwise, 5013.
Savannah; Easy; middling, 9V6; net re
ceipts, 10,028; gross receipts, 10,034; sales,
2798; stock, 62,917; continent, 6886.
Charleston: Steady; middling, 9; net re
ceipts, 1040; gross receipts, 1040; stock,
8491. *
Wilmington: Steady; middling. 9 3-16; n*t
receipts, 1710; gross receipts, 1710; stock,
16,175; coaBtwise. 392.
Norfolk; Steady; middling, 9V6; net re
ceipts, 1461; gross receipts, 1461; sales, 241;
stock, 9808.
Baltimore: Nominal; middling, 9^6;
stock, 1200.
New York: Quiet; middling. 9.70; gross
receipts, 4282; stock, 88,760; Great Britain,
190; France, 600.
Boston; Quiet; middling, 9.70; not re
ceipts, 1; gross receipts, 335; Great Britain,
Philadelphia: Quiet; middling, 9.95; net
receipts, 47; gross receipts, 145; stock,
Pensacola; Stock, 855; continent, 500.
Mlscelaneous: Net receipts,, 126; gross re
ceipts, 126.
Total today at all ports: Net, 36,557;
Great Britain, 2166; France, 600; continent,
78.83; stock, 337,558.
Consolidated at nil ports: Net, 36,557;
Great Britain, 2166; France, 600; continent,
Total since September 1 at all ports:
Net, 432,260; Great Britain, 91,805; France,
20,374; continent, 120,475; Japan, 481.
Interior Movement.
Houaton: Quiet; middling, 9%; net re
ceipts, 13.467; gross receipts, 13,467: ship
ments, 12.869; sales. 1932; stock, 37,344.
Augusta: Steady; middling, 9 6-16; net
receipts, 2603; gross receipts, 2802; ship
ments, 1970; sales, 1527; stock, 16.159.
Memphis: Steady; middling, 9%; net re
ceipts, 691; gross receipts, 691; shipments,
1108; sales, 150; stock, 6812.
St. Louis: Quiet; middling, 9%; net re
ceipts, 11; gross receipts, 161; shipments,
308; stock, 10,839.
Cincinnati: Nominal; net receipts, 312;
gross receipts, 312; shipments, 11; stock,
Louisville: Firm; middling, 10V4
Total today: Net receipts, 16,984; gross
receipts, 17,433; shipments, 16,266; sales,
3609; stock, 80,342.
New Orleans Cotton Market.
New Orleans, September 22.—Spot cotton
closed steady and H6c lower on increased
offerings, with loss buying, especially In
the English market. Middling, 9'/4c; sales
were 675 bales on the spot and 1650 to ar
Futures opened quiet and 3 to 4 points
net lower. Throughout the short session
prices continued to fall. The principal
causes of the decline were good weather
news and the spot market's weakness,
which was induced by the fact that Sep
tember orders for foreign shipment having
been about all filled, the English market
has not yet sent in new orders to any
great extent. Coupled with this falling
off in demand the interior offered spots
somewhat freely. The closing was steady
at a decline of 6 to 9 points under yes
New Orleans Cotton Futures.
Open. High. Low. Close
September . 9.3 0 9.25 9.25
October . 9.14 9.16 9.11 9.1 I
November . 9.18 9.16 9.13 9.14
December . 9.18 9.28 9.16 9.16
January . 9.28 9 37 9.25 9.26
February .. 9.33 9.33 9.30 9.30
March . 9.43 9.45 9.40 9.40
April . 9 47 9.47 9.43 9.43
May . 9.58 9.62 9 55 9 55
June. ..... 9.61
July . 9.09
New Orleans, September 22 — Spot cotton
closed steady; sales, 2325. Low ordinary,
6c nominal; ordinary, 6'/*o nominal; good
ordinary, 7 13-lGc; low middling, 8*Vbc; mid
dling, 9'/4c; good middling, 9*/2c; middling
fair, 9^'sc nominal; fair. l(H/fec nominal;
receipts, 4838; stock, 40,959.
Liverpool Cotton Market.
Liverpool, September 22.—Closing cotton,
spot quiet; prices 2 points lower; Ameri
can middling fair, 6.07; good middling. 5.79;
middling, 5.55; low middling, 6 35; good or
dinary, 5.11; ordinary, 4.87. The sales of
the day were 4000 bales, of which 400 were
for speculation and export, and Included
2900 American. Receipts, 8000 bales, in
cluding 5800 American. Futures opened
quiet and steady and closed easy. Sep
tember, 5.18; September-October, 5.06%;
October-November, 5.02; November-De
cember. 5.01; December-January, 6.02; Jnn
uary-February, 5.03; February-March, 6.05;
March-Aprll, 6.07: Aprll-May, 5.98%; May
June, 6.10; June-July, 5.11%.
Dry Goods.
New York. September 22.—The dry
goods market holds steady. The linen
markets are very strong, foreign mills
being sold ahead for the year 1907 and the
very top prices being asked for all im
portations. There is a scarcity In burlaps
in this njarket. Domestic goods are firm
and steady; demand In small quantities.
The sales of print cloth In the past ten
days aggregated 750.000 pieces.
Spot cotton in the Birmingham mar
ket dropped 12 points yesterday, closing
figures showing a 9-cent basis .for good
middling. No receipts were reported.
There was very little left on Morris ave
nue after trading was over yesterday
afternoon. Sales in all lines wore heavy
and prices firm. Nearly all kinds of vege
tables have advanced in price on account
of th( scarcity. Beans have gone up to $1
and $1.25 per bushel, corn to 17^4 a111
cents per dozen ears und tomatoes to $1
and $1.25 per half bushel basket. Ren
ovated butter has advanced from 23
cents to 25 cents per pound apd the best
grade of creamery buttery from 26 cents
to 28 cents.
Groceries continue to rule steady with
no material changes In the list of quo
tations. Sales are reported large and
Local Iron Market.
[email protected]
[email protected]
Grey Forge.34.25
IS... .. 1600(0)16.50
[email protected]>l6.0u
. Mottled.14.00
Local Cotton Market.
Good middling. 9
Strict middling. 8%
Middling. 8%
Strict low middling. S%
Low middling.. . 814
Local Securities.
(Corrected by Otto Marx & Co., Brown*
Marx Building.)
Banks and Trust Companies.
Bid. Askefl
Ala. Trust & Sav. Co.100
Amer. Trust & Sav. Bank.265 283
B'ham Trust & Sav. Co.210 225
Cit. Sav. Bank A Trust Co.'..105
Commercial State Bank. 101
First National Bank .250 285
Jefferson Coun. Sav. Bank.225 250
Peo. Sav. Bank & Trust Co.135 150
Traders’ Nat. Bank .100 10a
State, County and City Bonds.
Renewal ’’C's", 3*4's ..102 105
Funded 4’s .106 109
Renewal 4's .109 109V4
Jefferson County 6’s .4%
Jefferson County 4Mi's .104 106
City of Birmingham 6’s. 5 4%
City of Birmingham 5’s .4% 4%
Street Railway Stocks and BondB.
Amer. Cities’ Ry. & Lt., com.. 61 63
Amer. Cities’ Ry. A Lt., pref— 95 98
B’ham R. L. A P. Co., pref.. 95 99
B'ham. R., L. A P. Co., com.... 95 98
B. R., L. & P. Co. 4H bonds.... 94 96
B'ham Ry. & Elec. Co., bonds..105 108
Ga. Ry. A Elec. Co., pref. 91 93
Ga. Ry. A Elec. Co., com.102 105
Ga. Ry A Elec. Co., bonds —100 102
Knox. Ry. A Lt. Co., pref. 95 98
Knox. Ry. A Lt. Co., com. 50 56
Knox. Ry. A Lt. Co., bonds— 95 97
L. R. Ry. & Elec. Co., pref.... 97 98
L. R. Ry. A Elec. Co., com. 72 75
L. R. Ry. A Elec. Co., bonds....102 104
Memphis St. Ry., pref. 82 85
Memphis St. Ry., com . 6314 66
Mobile Lt. A R. R. Co. 45 75
Mobile Lt. A R. R. Co., bonds.. 98 101
Nash. Ry. & Lt. Co., pref. 80 83
Nash Ry. A Lt. Co., com. 44 43
Nash. Ry. A Lt. Co., bonds.102 104
Coal and Iron Stocks and Bonds.
Ala. Con. C. A I. Co., com. 63 65
Ala. Con. C. A I. Co., pref. 90 95
Ala. Con. C. A I. Co., bonds_100
Ala. Con. C. A I. Co., bonds_ 93 30
Ala. S. A Ship. Bldg. Co., pref.. 85 90
Ala. S. A Ship. Bldg. Co., bonds.104 108
Bess. Land A Imp. Co. 25 30
Cahaba South. Mining Co.1400
DImmick Pipe Co.90 100
Louis., Hend. A St. L., pref— 35 40
Louis., Hend. A St. L., com_ 14 17
Rep. Steei A Iron Co., com. 36 38
Rep. Steel A Iron Co., pref.100
Seaboard Air Line, Atlanta-BIr
mlngham Dlv., bonds.91 92
Sloss-Sheff. S. A I. Co., com.
Sloss-Rheff. S. A I. Co., pref....110
S. I. A Steel Co., 1st mort.106 109
S. I. A S. Co., 2nd mort.
H. A N. Ala. R. R. Co., com.... 45
South. Steel Co., 5 p. c. bonds.. .. 95
T. C. 1. A R. R. Co., com 157 158
T. C. I. A R. R. Co., pref 130 160
T. C. I. A R R. Co., BIr. dlv...108 111
T. C. I. A R. R. Co., DeB. dlv..102 105
T. C. I. A R. R. Co., Tenn. dlv..109 112
T. C. I. A R. R. Co., Cah. dlv..100 105
T. ,C. I. A R. R. Co., gen. mtg... 98 10(1
Miscellaneous Stocks and Bonds,
Atlanta-Bir. Fire Ins. Co.1*4 3ft
Avondale Land Co.125 150
Avondale Mills .110 125
Birm. Ice Factory Co.110 125
Birin. Realty Co., com.125 155
Birm. Realty Co., pref. 84 88 #
Birm. W. W. Co., 2nd mort.100 113
Birm. W. W. Co., gen. mort.. 95 99
Continental Gin. Co.
Continental Gin Co., bonds. 99
Country Club, 2nd mort. 70 75
East Lake Land Co. 90 95
Elmwood Cemetery Co.95 103
Ensley Land Co. (old). 5 7
Ensley Land Co. (new) .100 110
Gray A Dudley Hard. Co.
Hillman Hotel . 99
Martin Cracker Co.100
North Birm. Land Co. 45 50
Underwriters’ R. E. & R. Co.
Woodward Con. Co., com.100
Woodward C. Co., 2d m't bonds. 100 106
Local Staple Groceries.
Sugar—Granulated, 6^Hc; L. C., iVtc.
Flour—Fancy patent, $5.50; standard
patent, $4.90; straight, $4.
Coffee—Green, [email protected]; Arbuckle’s, $16.55;
Porto Rico, $16.56.
Meat—Dry Halted ribs. S^c; dry salted
rib bellies, 10%c; extra clear. 10c; hams,
fancy. 15%c; medium 14%c; bacon belllM,
12Vfec; California hams, 10c. •
Lard—Leaf, 10c; compound lard. So.
Molasses—Centrifugal, 3<%35c; sugar
house, 40c; Georgia cane, 35c.
White Peas—Per bushel, $2.
Beans—Navy. $2.25 per bushel: hand
picked Lima, 7c.
Grits—92 pounds, $1.05.
Meal—“Jim Dandy,” $1.25.
Macaroni, 6*/*c.
Feed Stuff.
Corn—No. 2 mixed, 06c; white, 70c.
Oats—No. 2 mixed, 43c; No. 2 white, 46c;
white clip, 50c.
Pure wheat bran, 80 or 100, $22.
Cotton seed feed meal, $25; prime, (V.
Corn chops, |7.17'/2.
Corn hearts, $1.2®.
Shorts—100 pound sack. $1.20.
Hulls—80-lb c. 8., $9 ton; 20-lb. c. s., 40e
sack; 100-lb c. s.. Ill ton; 100-lb c. s.. 46o
sack; 100-lb sack hulls, 60c.
Hay-*-Oholce timothy. $23; No. 1 timo
thy, $22; Johnson giajss, $16; clover mixed,
Fruits and Produce.
Lemons—Per box, extra fancy. J7.
Tomatoes—Alabama, basket, [email protected]
Alabama Beans—Per crate, green, Jl®
Corn 1784®!0c per dozen.
Limes—Per 100. J101.25.
Peanuts—Fancy, per pound. Sc: No. t 4c.
Cabbage—Virginia crop, 10144c pound.
Holland Seed Cabbage, per pound, %r„
pineapples—30. 30 and 40 sizes, J3.2503.50.
Missouri Peaches -Per crate, Jl.6002.
Egg Plant—$1.7503.
Grapes—Per 4-pound basket, 18c; 8
pound basket, 26c.
Western Apples—Barrel. $303.50.
Bulk Apples—Per barrel, |2.
Onions—New crop, pound, [email protected]
Spanish Onions—Per crate. J1.75.
Northern Potatoes—Per bushel, 85030c.
Sweet Potatoes—Per Darrel, $202.25
Eggs—Candled. 23c; case counts, 21c.
Hens—35c; broilers. 25033c.
Butter—Fresh, [email protected]; renovated, 25c;
creamery 28c.
Cheese—Full cream, per pound, 1444015c.
Hides and Wool.
Green salt hides, No. 1, 1101144c.
Dry flint hides, No. 1, [email protected]
Dry salt hides, No. 2, 16018c.
Clear washed wool, 35036c.
Unwashed wool, 25c.
Burry Wool, 14016c.
Sheepskins, 4O0J1.25.
Tallow, 40444c.
Beeswax, 25c.
Warrant Warehouse Company
Best Protection. Lowest Insurance
Storage of cotton and all commodities- Loans negotiated
on our receipts. Concrete, automatic-sprinkled, ware
rooms. 35th St. and Ave- A, Birmingham. Both phones 923
W. D. NESBITT, - - 311 Woodward Bulldln)
———— . " ■— ——^
Condensed Report to Comptroller
September 4, 1906.
Loans and Discounts .*3,152,1 111.51
Overdrafts. 1,055.07
U. S. Bonds and Premiums. 1,078,500.00
Ollier Stocks and Bonds .. 204,017,30
Alabama Bonds. 480,474.28
tn Vaults * 807,054.07
With Banks. 1,703,051.33
With U. S.
Treasurer ... . 50,350. oo
Capital Stock.$1,000,000.00
Surplus and Profits........ 470,553.93
Circulation . 987,100.00
Alabama Bond Account .. 300,000.00
Individual _$0,1044125.61
Bank . 809,075.03
United States .. 50,000.00
vrr n.rjHo—vv . r. naming, ircsiaem; j. n. v> uuu»ji1n, v -«
H. Barr, Vice President and cashier; A. R. Forsyth, Assistant Cashier; F. 8.
Foster, Assistant Cashier; Thomas Bowron. Assistant Cashier.
DIRECTORS—W. 8. Brown, T. IT. Molton. F. D. Nabers. B. F. Moore. Robert
Jemison, E. M. Tutwlier. Ersklne Ramsay, W. P. O. Harding. W. H. Haaslnger.
Walker Percy, J. H. Barr, J. II. Woodward, William M. Walker, Culpepper Exura,
W. H. Woodward. M. V. Joseph, John L. Knul.
C. F. ENSLEN, President.
Vice President.
E. F ENSLEN, Cashier.
Assistant c--•••«?**
E. K. CAMPBELL. Attorney.
♦mo ooo on
Accounts of merchants, manufact
urers. and Individuals Invited. Interest
allowed on special time and savin**
New York, September 22.—The state
ment of the clearing house banks for the
week shows that the banks hold *11.315.
925 more than tho legal reserve require
ments. ThlB Is an Increase of $7,779,525 as
compared with last week. The statement
Loans, $1,043,882,600; Increase, $7,422,200.
Deposits, $1,023,261,500; Increase, $17,763,
Circulation, $45,109,500; Increase, $220,700.
Legal tenders. $77,541,800; decrease. $949.
Specie, $190,536,600; Increase, $13,170,000.
Reserve, $267,128,800; Increase, $12,220,500.
Reserve required, $266,812,875; Increase,
$4,440,975. „„ ,.,
Surplus, $11,375,921; increase
Ex. United States deposits, $17.(02,7(5,
increase, $9,746,276.
New York, September 22.—The Financier
saj's this week; ,
Contrary to general expect at lima the of
ficial statement of the Now Yoik A88
elated banks last week showed a closer
correspondence than has recently been
the ease between the estimated changes
In cash, which were bused upon tho trac8‘
able movements of money during the
week, and the officially reported figures.
The latter lust week Indicated a
of $12,220,500 cash, while the majority of
the estimates showed an “x|)eut?.,?,.n
crease of eleven and two-thirds millions.
Jt soma likely that the unrecorded
averages of the cash movement In the
week of September 15 were brought Into
last week, thus accounting for the large
increase shown. The general deposits In
creased $17,763,900, which amount Is one
and four-fifths millions less than the »UJ"
of the Increase In loans and the gain n
cash, therefore the statement failed to
prove. The required reserve against de
posits was augmented $4,440,175 deducting
which from the gain In cash left $7,779.
525 as the Increase In surplus reserve to
$11 316,926. Computed upon the busts of de
posits less those of $25.547 400 public: funds
the surplus is $17,702,775. It may be noted
that the public deposits showed an In
crease last week of $7,863,000, making a
gain of $17,207,100 for the fortnight re
flecting the advances to banks of money
for the purpose of facilitating gold lm
PLoans were expanded $7,422,200 which Is a
very moderate sum considering the large
loaning operations during the week pos
sibly, however, the bulk of the stock ex
change loans was effected with trust
companies and private bankers Loans
were $20,631,100 In excess of deposits
against $30,972,800 In the previous week.
The dally average of bank clearings
for the week was 349,1100,000 a gain of
$7 000,000 compared with the week of Sep
tember 15. Clearings on Saturday reflect
Inn Friday’s business were
Comparisons of loans by Individual banks
show that seven institutions Increased
this Item by eight and half mllllo"*. net;
four hanks gained elevent nnd two-thirds
millions, net cash. __
The most difficult work solicited. Herml.
tage, of course.
Birmingham & Atlantic R. R.
Schedule lllfecllvr Juue 10, 11,00
No. 1 (dally, leaves Talladega at
7;45 a. m., urrlves Birmingham
(Southern Railway,.10;16 am
No' 8 (dally, leaves Talladega at
4.20 p. III., arrives Birmingham
(Southern Railway).7:30 pm
Leave Birmingham (Southern or
Seaboard) at 6:45 a. rn., arrive
Talladega at.10:44 am
Leave Birmingham (Southern or
Seaboard) at 4:05 p. m., arrive
Talladega at.7:08 pm
For further Information apply to O.
I.EY, A. O. P. A., Talladega, Ala.
tombigbee valley railroad
Passenger schedule euective May 2, IMS.
Going North Going South
read down. Head up.
No. 2. No. L
Lv. 7:15 a m. Calvert ....Ar. 7:40 p.m.
Ar. 7'.3M a m.Falrford ....Lv. 7:25 D.m.
Lv. 8:30 a m.... Falrford -Ar. 6:06 p.m.
Lv! 9:15 a,m...sime Chapel..Lv. 6:25 p.m.
Lv. 10:45 a.m. Chaton ....Lv. 3:67 p.m.
Lv. 12:40 p in. Mlllry .Lv. 2:30 p.m.
Ar. 12.40 p.m..Heal'g Sprgs..Lv. 2:30 p.m
Train No. 4. Train No 3.
Lv. »:10 p m. Calvert -Ar. 6:00 a m.
Arv. 8:26 p.m_ Falrford ...Lv. 6:46 a m.
Trains No. 1 and No. 4 meet No. 22.
northbound on the Southern railway from
Trains No. 2 and No. 3 meet No. 21 on
the Southern railway, southbound, and
No. 118 northbound to and from Mobile.
Connections are close and passengers
can buy through tickets and can check
baggage through from points on South
ern railway to all points to T. V. Line and
rice versa.
CHARLES P. DUKE. President
Showing the arrival and departure ot
passenger trains at ths Union station
(Effective August 19, 1906.)
Louisville and Nashville Railroad.
Arrive from— IDepart to—
N. Orleans. .11:46 am (Cincinnati ,.1J :05 pm
N. Orleana.. 9 10 pm.Cincinnati .. 9:19 pa
Cincinnati .. !:25sm N. Orleans.. 9:83 am.
Cincinnati .. 4:00pm N Orleans.. 4:20 pm
•Decatur ... 7:00 pm,*Decatur ....9:16 ant
•Decatur ... 9:25 amj'Decatur ... 4:15 pm
Mont’g'y ... 7:46 pmlMontg'y .... 6:26 am
MontiCy ....10:40 amjMontg'y _3:15 pm
Birmingham Mineral Railroad.
Arrive from— Depart to—
Blocton .....10:50 am Blocton .0:20am
Blooton .8:36 pm Blocton .2:00 pm
•Blocton .... 6:00 pm •Blocton ...,6:90am
Anniston via Anniston via
Gadsden ..10:25am Oadiden ..4:10 pm
Anniston via Anniston via
Oadsden ..6:35 pm Oadsden .. 8:35 am
Southern Railway.
Arrive from— Depart to—
Atlanta .10:16 am Atlanta .4:06 pm
Atlanta .6:36 am Atlanta .11:80 pm
Mobile .6:30 am Or'vllle .10:20 pm
Or'vllle ..... 6:40 am Waeh'n .....6:50 pm
Wash’n .12:06 pm Heflin .6:45 am
Heflin . 7:36 pm Or'vllle .It :26 pm
Hr’yl'ls .6:00 pm [Mobil.10:86 pm
Mobile .10:15 pmlSelma .6:00 am
Waeh’n .9:80 pmlwash’n .6:40 am
Corona .9:85 am'Cnrnna .3:40 pm
Queen and Crescent Route.
Arrive from— Depart to—
N- 0r.6:40 am Clncln.6:45 am
Olncln.10:20 pm N. Or.10:26 pm
Clncln.10:15 am N. Or.10:20 am
ohatta.12:00 m Chatta.4:00 pm
Meridian ...11:20 pm Meridian .... 4:30 pm
Meridian ...12:25 pm Meridian ...,5:45 am
N. Or.6:40 pm Clncln.6:45 pm
Frisco System.
Arrive from— IDepart to—
Memphis ... 8:55 pmlMetnphla ...12:20 pm
Memphis ... 5:40 nm.Memphla ...10:80 pm
Wlnfleld ....10:00 ami Wlnfleld ....4:00 pm
Amory .6:25 pni'Amory .6:20 a: >
Central of Georgia.
Arrive from— jDepart to—
Savannah . .10:00 pin iMacon .......7:00 am
Savannah . .12:05 pm Savannah ...4:00 pm
Seaboard Air Line.
Arrive from— .Depart to—
Richmond ..10:20 pmlRIehmond ..0:86 am
Richmond .. 12:10 pmlRIehmond ..2:20 pm
All trains run by central time. Trains
marked thua (•) are daily except Sunday.
Schedule in Effect April 29, 190*.
N. B,-Following schedule figures pub.
Ilshed only us information and are not
6:40 a.m.—No. 38. for Atlanta or.-ui_
man Drawing Room Sleeping
Car, Birmingham to Newi
York. Dining Car, Birming
ham to Atlanta.
3:00 a.m.—No. 19, for Montevallo, Ma
plesvIUe, Selma and way sta
12:25 pm.—No. 35. for Columbus, West
Point, Winona. Greenwood
and Greenville: alio Sheffield
and Florence and North Ala.
bama points.
8;t0 p.m.—No. 15, for Cordova. Oakmaiw
Corona and way stations: alsd
6:46 a.m.-No. 22, for Anhlston. Heflin and
way stations; also Rome. Ga.
3:60 p.m.—No. 36, for Atlanta, Charlo-,*.
Richmond, Washington. NeW
York and the East. Pullmag
Sleeping Car Birmingham te
Richmond. Va.
4:06 p.m.—No. 24, Anniston. Atlanta
way stations; also for Jack,
sonvllle and all Florida points,
also Talladega. Ala. Pullman
Sleeping Car Birmingham ta
10:20 p.m.—No. 37. for Columbus. Wesf
Point, Winona. Greenwood
and Greenville. Pullman Draw,
tng Room Sleeping Car Blr.
mlngham to Greenville.
10:36 p.m.—No. 21. for Selma. Mobile and
way stations. Pullman Draw.
Ing Room Sleeping Car Bir
mingham to Mobile.
I 11 .-30 p.m.—No. 98, for Atlanta. Annlstoa
and way stations. Pullmsn
Sleeping Car. Birmingham ta
Atlanta Sleeping Car can ba
occupied at Union station 3:3(
p m.
For detailed Information and sleeping
car reservations apply passenger office,
Morris Hotel Building Telephone 3033
Bell and 617 Peoples.
M H. BONE, D. P. A.
Effective July 16, 1906.
No. 1. No. 1.
3:« P- m....Lv. .Reform, Ala. .Ar. .12:10 p.m.
4 03 p.m...Lv.... Stansel Lv.. 11:50 p.m.
4:28 p.m...Ar.. Carrollton ..Lv..11:33 a.m.
4:43 p.m...Lv.. Carrollton ..Ar..11:30 a m.
6:05 p.m...Lv.... Dlllburg ...Lv..11:00 a.m.
6:23 p.m.. Ar... Allcevllle ...LV..10.U a m.
For further Information apply to John
T. Cochrane. Preat., City Bank Building,
Mobile, Ala.; Alex Jacksoc, Supt., Ullna
Tllle. Ala
The best half-tone cut* are made by
the Gawk Engraving company. Age
Herald Building. —

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