The Birmingham age-herald. [volume], May 11, 1913, FINANCIAL SECTION, Page 41, Image 41

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

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

                
FROM 1 T015 POINTS
Low Records for the Year
Made by Nearly a
Dozen Stacks
v-. \ j
^’e"' York, May 10.—The decision of i
the department of justice, as reported
from Washington to institute further;
proceedings under the anti-trust law!
against certain of the coal carrying!
rouds made the stocks of these com
panies the largest of speculative at
tack today. Boar traders succeeded in
hammering down the coalers to a ma
terially lower level, the declines rang
ing from 1 to 15 points. The effect on
sentiment of this movement was in
creased by continuation of liquidation
of investment stocks, some of which
touched tlie lowest point of several
years. New Y'ork Central sold under
'•PL Low records for the year were made
by nearly a dozen stocks.
hi the face of these influences the
•" live stocks in general held up fair
ly well. The trend was downward, but
losses In most cases were insignificant.
The foreign markets wrere closed and
the lack of London buying tended still
further to restrict activity here, trad
ing being the lightest of many months.
Predictions of a heavy falling off In
United States Steel monthly statement
of unfilled tonnage were fulfilled; in
fact, the decrease of nearly 500,000 tons
"as considerably more than had been
generally expected. It constitutes the
fourth successive decline in as many
months. The total at the end of April,
however, was over 1.300,000 tons in ex
< css of that of the corresponding period
of the previous year. The steel figures
were not market factors today as they
did not appear until after the close.
While tiie banks did not make the
expected cash gain, a cut in loans of
$1..000,000 reduced reserve requirements
sufficiently to add nearly $4,000,000 to
the excess reserve.
Bonds were steady. Total sales, par
value, $420,000. United States is reg
istered advanced U, the 4s coupon V&
and the Panama 3s Vs on call on the
week.
Bonds
1 S. ref. 2s, registered. 100J,4 i
V' ref- 2s» coupon . j00Vi'j
1 • S. 8h, registered . 102V»
l . S. 3s, coupon . io2 *,2
V. S. 4s, coupon . 114
L- S. 4s. registered . 11324
fVMral of Georgia 5s . 104;<i
Illinois Central 1st ref. Is .... 90%
Louisville «fc Nashville un. 4s .... 931-.
Rea.board Air Line adj. 5s _ 71 'l
Sou(horn Railway 5s . 103*4
{Southern Railway gen. 4s . 76 U
Treasury Statement
Washington, May 10.—The condition of
Ri I'nited .States treasury at the begln
n ng of business today was: Working
balance, $69,604,480; in banks and Phllfp
jum? treasury, $43,618,040; total of general
f 'lid. $138,863,069; receipts Friday, $2,215,-1
S51; disbursements Friday, $3,442,299; sur
plus this fiscal year. $S,OS8,473, against a
deficit of $12,735,864 last year. Figures for
receipts and disbursements including sur
plus and deficit exclude Panama canal
and public debt transactions.
New York Money
New York, May 10.—Money on call nom
inal; no Dans. Time loans easy; 60 and
90 days, 3-?4@4 per cent; six months, 4*4®
4%.
Prime mercantle .paper. 5436% per cent;
sterling exchange easy at $4.83 for 60 day
bills and at $4.S6 for demand. Commer
cial bills. $4.82%. Bar silver, 60%c. Mex
1< an dollars. 48c. Government bonds
steady; railroad bonds steady.
Exchange Closed
London. May 10.—Liverpool and London
exchanges are closed today excepting the
provisions exchanges.
Bank Statement
New York# May 10.—The statement of
the actual condition of clearing house
banks and trust companies for the week
shows that they hold $19,802,600 reserve in
excess of legal requirements. This is an
Increase of $3,846,950 over last week.
The statement follows: Actual Condi
tion-Loans $1,921,228,000, decrease $17,323,
000; specie $333,903,000, decrease $3,971,000;
legal tenders $82,952,000. increase $3,868,000;
net deposits $1,760,936,000. decrease $17,492,
000; circulation $46,802,000, increase $213,000:
banks’ cash In reserve vaults, $372,181,000;
trust companies’ cash reserve in vault,
$64,674,000; cash reserve, $416,853,000 out
standing; excess lawful reserve, $19,802.
600, Increase $3,846,950. Trust companies’
reserve with clearing house members car
rying 25 per cent cash reserve, $51,766,000.
Summary of state banks and trust com
panies in Greater New York not included
In clearing bouse statement: Loans $569.
8.S3.900, increase $1,860,000; specie $65,854,300,
Increase $757,800; legal tenders $8,133,700,
increase $700; total deposits $646,862,900, in
crease $3,044,100.
The New York Financier says this
week;
The statement of the Associated Ranks
of New York for the week ending May
10 failed to disclose the anticipated gal i
of about $3,000,000 in cash.
The actual figures showed a small in
crease of $103,000 in specie and legal ten
ders, but considering the export of $6,000.
000 gold during the week, the statement
was altogether favorable, particularly
since the decrease of $17,323,000 in lean?
brought about a corresponding decrease
of $17,479,000 in deposits, lessening reserve,
requirements by an amount sufficient t >
Increase surplus by $3,846,950. the present
excess standing at $19,802,600.
The surplus based on the average sys
tem stands .at $16,940,300. The exports of
gold at this'tjfbc have been regarded with
more attentfon than is usually the case
for the reason that the hanks through
out the country are rather well inflated
as regards loan commitments, and again
because there will fall due within the next
three months more than $200,000,000 of
maturing securities, mostly of a sho**t
thrie character, which will have to be e
newed or funded into definite bonded ob
ligations.
Metal Market
New York, May 10.—Metals dull. Prac
tically nominal. l.ake copper, $15.87%*;
electrolytic, $15.75; casting, $15.50. Iron
unchanged.
Coffee Market
New York. May 10.—Coffee futures
opened steady at unchanged prices to an
advance of 2 points and improved dur
ing the session on continued bull sup
port of the near months, scattered cover
ing and some trade buying, which was
•aid to reflect rather a better demand
for spots.
Trading was generally quiet and there
appeared to be comparatively few seller.-;
around the exchange.
The close was steady. Sales, 14.750 bags.
May. 11.15c; July, 11.30c; August, 11.40c;
September, 11.30c; October. U.49c: Decem
ber, 11.49c; December. 11. w; Januaiv.
11.50c; March, It.54c. Spot coffee steady;
Rio No. 7. ll%c; Santos No. 4. 13%e; Mil l
dull. Cordova, 14%ffl7c nominal. Owing
to the holiday there were no European
__ THE CLOSING STOCK LIST ,
Sales. TTirIi, Low. dose.
A. C R.'"'... . .———~—37~4
-'mol. Cop. 4000 75 74% 74%
Amer. Aar!.7> .... 49
Amer. H. S. 30%
Amer. Can .... 900 .'',2% :;:% 32%
do pfd . 200 94 93% 92%
V. C. & F. 48%
Amer. Cot. Oil. 42
Amer. Ice Sec. . 300 25% 254 254
Amer. Lin. 94
Amer. Loco. 900 32% 22 32
A. S. & R.(BOO 07 4 66% 4 60%
do pfd . 100 1029* 1029s 101%.
A. S. R.110’7,
Amer. T. & t.127%
Amer. Tob.231
Ana. Min. Co. . 100 38 38 379!
Atchison . 100 99 4 99 4 99%
gfi pfd . 99%
A ~C. L. 100 120 4 120 4 120
B. & o. 400 97% 97% 97 4
Beth. Steel . 32* 1
B. R. X. . 884
Can. Pac.7000 241 % 2104 241 %
Con. Leath. 224
C. & 0. 100 63% 63% 634
Chi. G. TV. 12%
C., M. * St. P. . 300 107 4 107 106 4
C. &■ N. W.129%
C. F. & 1. 31
Con. Gas . 200 130 130 130
Corn Prod. 10%
r>. & II. 900 152% 150% 150’!.
D. & R. G. 19
do pfd . 33 4
fljs. feec. 15 9!•
line .3100 28 »S 28 4 28%
do 1st pfd ... 1 00 42% 42% 42
cio 2d pfd . 31%
Get}. Klee. 100 138 138 137%
G. X. pfd . 100 126% 126% 126
G. X. Ore Ctfs. . 400 34 34 3t
111. Cen.113%
lnter.-Met. 200 1 4% ]4»» It1:,
do pfd . 900 60 % 49 4 49%
Inter, liar.101
Inter-Marine
pfd. 17
Inter. Paper . 8-%
Inter. Pump . 7
K. C. S. 23%
Laclede Gas. 92
Lehigh Val. 100 154% 154% 154%
Sales-. High. Bow. dost-.
L. & N. f00~l‘31?riSi»r- ftl
Minn., st. P. ti
Fault Ste. M. . 100 13114 131 >4 131'»
M. . K. & T. 21
Mo. rac. -.... 34 7s
Nat. Bis.112
Nat. Bead . II
Nat. Ilya, of M.
2d pfd . 33
N. V. C. 3000 99 H 98 »» 98*4
N. Y„ O. & \V.. .... 23 *4
N. & \V. .10514
Nor. Amer. 100 7 1 7 4 73
Nor. Par-.100 11414 114 U 114
Pac. Mail . 100 22 >4 22>'< 22
Pennsylvania ...2000 lit *4 111*4 111 *4
Feo. Gas . ... . „.109
Pitts., C.. C. &.
St. Bouis . 91
Pitts. Coal .... ’ ’ 1754
P. S. C. ." o in,
r- P. <’.•.. 200 154 Vt 154 t3 153
Heading . 13800 161 <4 16o=„ 160-’4
R.^4- & S. 400 2314 23 23
do pfd . a in,
f*- 1- Co. 400"- 19 "4 197» 19*4
do pfd . 32.-.,
St L. A- San F.
2d Pfd . 20";
F. A. B. inn 1714 17:1, 171.-.
do pfd . IDO 42 ’4 42's 42
Sloss-Sheff. S.
and Iron . 29 74
Sou. Pac.Son 95 7* 95--„ 95S4
8<JU- Rv. 100 24 »i 24 "a 24*4
do pfd . 7614,
Tenn. 1'op.100 3l'i 34 1s 34**
T. & F’.. 1514
Union Pac. ....4800 14s :, llS"a MS'fc
do pfd . 9914
r. *s. Realty.6i-;a.
U. S. Rub.600 03 62 U 62
V. S. Steel ,...9900 59 74 59 1s 591/.
do pfd . 700 100 105 V. 105*;
Utah Cop.1000 52 51 ■•4 51 14
V.-C. Ciieni.1000 28 26 B 26
’•Vabash .,"®^3
do pfd . 300 914 91,4 in4
West. Md... 39
'Vest. Union .... 100 65 65 v6l";
'Vest. Elec.'. \| 1 ;
TV. & B E.,. 514
_Total gales for t !]■• (lav, 66A1111 aliai'p;--. "—
LOCAL SECURITIES
Rate. Bid. Asked.
Ala. F. & i. 4 bo 63
Amer. C. Rys., pfd ..6 71 73
Amer. C. Rys. 87 , 45
Amer. T. & S. Bank.. S 190 194
Avondale Mills, com . 8 123 130
Avondale Mills, pfd .8 100 19}
Bessemer C. 4b 1. 4 43 52
B'ham Baseball Asso.. 175 200
B'ham, Kns. & B.. pfd.. 6 38 44
B'ham, Bus. ,t B, com 13 17
B’ham Realty Co.4 165 ...
B'ham T. & 9. 8 259 2G8
Cham, of Com., pfd .. 7 74 80
Com. Bank 4b T. Co. . 88 103
Corey Land . 72 7S
East I.ake Land . 55 65
Elmwood Cein. Co. 4 87 95
Empire Imp., com .... 8 80 85
Empire Imp., pfd .... 8 104 110
Hnsley Land . 112 125
First National Bank..12 258 270
Five Rivers Oil . 20 26
Croat Sou. Life . 11 14
Interstate Casualty . i 4 7
Interstate Fire . 4 7
Jeff. Co. S. Bank .10 153 158
Jefferson Fertilizer .. 8 116 125
L, J. & La, con* ...... 50 55
L. , J. 4b L.. pfd . 7 99 102
M. & M. Bank . 8 133 140
North B’ham Land .... 16 62
Protective Life . 1® 16
Prov. Oil & Cas . 3 6
Realty Tr. Co., com ... 11® *65
Realty Tr, Co- pfd ... 8 100 11®
's,a,r's Fire _ ”T (T“
Traders Nat. Bank ... 9 105 iso
BONDS
Rate. Bid. Asked.
Ala. State ref., 1920... 4 98 102
Ala. State Renew., 1956 3% 91 14
Aia. State Renew., 1966 4 * 101 ]03
AlaV.State Fair . 0 75 85
Amer. Cities Rys. 5 92 94
Bessemer C. & I. 6 100 103
B ham, Knsley & B_ 5 70 72
B. R„ L. & p. 8 17)1 104
B. K.. L. & P. 4^4 89 91
Cham Ice Factory .. 6 100 106
B ham R. & E.6 101 103
Bham Waterworks ... 5 92 94
Bham Waterworks ... 6 109 112
City *f Birmingham .. 5 100 104
City of Birmingham .. G 105 JOS
Continental Gin . 5 102 10S
Country Club . 6 95 100
Jefferson County .... 5 103 JOS
Jefferson County .... 6 105 110
Jefferson County .... 4>,4 100 102
Milner Band Co.6 100 102
Nashville P.allway .... 5 102 105
Pratt Consolidated ... 5 83 8S
Sloss I. & S. 6 102 105
Sloan l & S. 414 92 95
T. C. I., gen mtg.6 101 J03
T. C. I., Tenn. Dlv.6 101 103
3’. C. I., Ship Bldg.... 6 102 104
T. C. I.. Bham Div. .. 6 101 103
T. C. I.. Caha’a Dlv. 6 103 107
cables. Rio unchanged. Santos 1s un
changed; 7s 50 reis higher at 6sx900. Rio
exchange on London, l-64d lower til
l(>7-32d. Brazilian p6rt receipts 13,900,
against 9000 last year. Jundiahy receipts
3000, against 2000 lust year.
London Stock Market
London, May 10.—liar silver firm.
2>d per ounce; money, 2® 3 per cent;
discount rates, short and three mouthy
bills, 3 9-16®3*a per cent.
French Exchange
l aris. May 10.—Three per cent rentes
S5f 10 centimes for the accountH ex
change on London. 25f 20V** centimes
for cheques; private rate of discount,
4 per cent. The bourse Will be closed
over Monday.
Live Stock Market
Chicago, May 10.—Hogs—Receipts. 6000;
steady; shade higher; bulk of sales. $8.40$
8.50: light. $8.30® 8.55; mixed. $8.26®8.66;
heavy, $7.9G®8.50; rough, $7.95@8.15; pig?,
$9.30® 8.35.
Cattle—Receipts, 100; mainly steady;
beeves, $7.10@8.90; Texas steers. $6.7®7.75;
stockers. $5.86®7.85: cows atld heifers, $3.90
liT.90; calves, $6.50®9.
Sheep—Receipts. 100*3; steady to strong;
natives, $7.50®7.86; yearlings. $6.35@7.50;
lambs, native, $6.40®.8.45.
Kansas City, May 10.—Cattle—Receipts,
20<». no southerns; steady. Dressed beef
and export steers, $8®8.«io; southern
steers, $*$7.75; southern cows, $4.50®7.25.
Hogs—Receipts, 1700; steady; bulk of
sates, $8.25®8.35; heavy. SS.20&8.25; pack
ers and butcliers. $8.2o®S.32I,£; lights, $8.25
$8.35; pig?, $6.50®7.50.
Sluep-Recelpts. 2000; steady; Colorado
lambs, $6.50®8.40; yearlings. $(>$7.25; weth
ers. $5.25®0.50; ewes, $5®0.25.
St. Louis, Mky 10.—Cattle—Receipts. 2600.
Including 200 Texans; steady. Choice to
line steers, $8.50(39; good to choice steers.
$<®>\50: dressed and butcher steers, $7.50®
9; stockers, $7.25®S; Texas steers, $6.50®
8; Texas caws and heifers, $4®7.
Hogs—Receipts, S000; higher; pigs and
lights, $7®8.00; mixed and butchers, $8.40®
S.G0; good heavy, $8.40®8.50.
Sheep—Receipts, 700; steady; muttons, $6
®7; vearllngs, $7®S; la limbs. $7®8.40.
Louisville, May 10.—Cattle—Receipts, 100;
slow; range, $2.50®8.25.
Hogs—Receipts, 2500; Arm; range, $4.o0
©s.ao. ’4 .
Sl,PPp_Reci*lpta, 50; lambs. .1: down,
sheep, 0aic down; springers, *7@9.
Naval Store*
Savannah. May 10.—Turpentine firm at
37M:C- allies. 401; receipt 900; shipments,
95." stook. 21,150. Rosin firm. Sales. 74)8:
receipts, 1585; shipments, 19; stocks. oi,.49.
Quote: A. R, C. D. *4.55: K, F. *4.65; w,
*4.75; H, *4.85; I, *5.05; K. *5.50; M, *6;
N, *6.10; \VU, *6.35; V>'\Y, *6.60.
Cotton Seed Oil
New York, May 10.—Cotton seed oil wa.-s
dull and featureless, with closing price*
showing very little change from last
night. Sales. 2900 barrels. Tenders on
contract, 1000 barrels. Prime crude, 6c
nominal; prime summer yellow, spot, 6.92
««.98c; May. 6.93c; June. 6.94c; July, 6.9Hc;
August. 7.01c; September, 7.02c; Novem
ber, 6.40e; December. 6.30c. Prime winter
yellow, 7®7.60c prime summer white, 7®
7.60c.
The Fame of a Journalist
From' the Boston Transcript.
Louis Brownlow was born in what may
be described as the backwoods down
south. In the course of time, he straight
ened Ills plumage, flapped his wings and
sailed out into the cold and'dreary world
to collect for himself finance and fame*.
He landed on a newspaper in a southern
city, and made so good on his job that i
bis articles were plastered under his sig
nature across the front page of. his jour
nal every day.
After he had felt for several months
the thrill of uplifting humanity and hav
ing people come up to him and tell him
what a fine writer, deep thinker and ex - |
cellent judge of human nature he was.
he went hack home. So far as he was
able to determine, lie was a sunburst on
the horizon of journalism, and fame had
hung about Ids form all the lights and
illuminations possible.
“Louis,” asked one of the old men at
the grocery store, speaking with a pro
nounced drawl and caressing his long.,,
thin whiskers, “what he your line of En
deavor?*'
“The newspaper business,” repfled
Frownlow. distinctly proud.
"Well. Louis,'* pursued the patriarch,
“be - * 0f uie paper* or a-settin'
of
LOCAL QUOTATIONS
Tig Iron
IF .$12.50
2F.32.00
3F . 31.&0
Gray Forge . 31/00
IS . 12.50
2S .12.00
Local Cotton
Strict good middling .
Good middling . jjia
Strict middling . iji*7
Middling . jji?
Strict low middling . llvi'a
Meat
Lard, 13 lie; compound . ®%C; dry salt
short ribs, 3 3.20c; beliies, 14.20c* bam
butts, 15.50c; Boston butts, JGc;* pork
loins, 37%c; spare ribs, 13%c; breakfuat
bacon, 22(§ 24c; smoked bacon, 3Gc; res:
uiar bam, 1914c; skinned bam, lD;ic. *
Creamery Products
Country butter, ?0®25c; fresh creamery
butter, 34c; cheese, ItiHc; imported Swiss
cheese. Sic; German brick cheese, 20c;
llmburgei* cheese, 19c; imported roquefort!
37c: Neufchatel cheese, per dozen, ijc*
Pimento cheese, 35c; process butter,* 30c*
daisy cheese, 16Vac per po*nd.
Fruits and Produce
Apples, fancy i.;- -sap, $4.15-88 per bar
rel; Ben Davis apples, box $1.50 to $1,75;
Roman Beauty apples, box $2.25; Yellow
Newton, 5--50; Florida Valencia oranges,
St.30 box; cranberries, $3.75 box; barrel'
$10; Italian chestnuts, 10c lb,: linies, $l,aj
per hundred; Irish potatoes, i0i(S3c bushel
R-nect potatoes, Dooley, 90,-■ bushel’
Unions, red -globe, 2c per pound; Danish
cabbage, HR per pound; Florida celery, 10c
per Outer,, $3.50 crate; rutabagas, Rfcc'per
pound; lettuce, $1.50<g2.50 per crate
strawberries, $3®3.t>0; cucumbers, per
crate, $300; tomatoes, Florida, $3.00 to
$3.50; cabbage, Mobile, $1.7393 crate; new
Texas onions, crate, $1.30; beans,’ per
hamper, $3.
Fish and Sea Foods
Red snapper, nugiOc in l>bi. iota; group
ers, He in bbl. lots; Spanish mackerel, 7®
Sc In bbls.; sun perch or la-cam, Sc in
bbl. lots: pompano, 23c; mixed flsli, sc
in bill, lots; crockers, 5c. in bbl. lots; fresh
waler perch. So; mullet, 6V4c in ’ hhls -
small trout, 7c; fresh water cat, dressed’
10c.
Flour and Breadstuff*
Self rising flour, $>U0; Tennessee
flour, $5.65; Indiana flour, 5.70; ukia
homa. flour, $5.35; Infallible. $6.80; pure
wheat Shorts, $29; pure wheat bran, $28 50
C. S. hulls, per ton. $15; prime C. s. meal.’
per ton. $32; C. s. feed meal, per ton, $26 ’
No. 1 timothy hay, ,;»i- ion, $22; mixed
alfalfa and Johnson grass, pur ton, $20
sack, $1.60; alfalTa hay. per ton, $25; Johri
sa< k, $1.50j alfalfa hay, per ton, $2-1; John
son grass, per ‘on. $15; mixed feed. $31;
oats, 52c bu.; corn,* Sic.
Poultry and Ecsr«
Hens, 45050c; live, per pound, 13914c;
large fryers, 25c: medium fryers,
30c; small fryers, 35c; ducks, 40030c;
guineas* 30c; roosters, 30c; Reese, 400 50c;
live turkeys, 18®20c; fresh eggs, case can
died. ISQIDc; extra graded candled eggs
20c.
Coffee and Sugar
Coffee. Arbuckles. $22.07 per 100
pounds; Euzunnc, 27c per pound. Sugar
—Standard granulated. 4?ic per pound.
When a Justice “Takes Part”
Front the Tradesman.
When the supreme court hands down n
decision in which one or more of the jus
tices take no part, it is so indicated and
made a matter of record in the case. For
example, if all the justices except Holmes
work on a case, the opinion writ conta'n
the line; "Holmes taking no part.'
Justice Charles E. Hughes says every
time he secs such a line it reminds him
of the damage case In which an Irish
man received Judgment for $10,000, which
however, was reduced to fjouii by the
higher court. On the copy of the option
the Irishman noticed the line: "Jones,
judge, taking no part." He said: "I re-Ic
on, then. If he'd taken |>art as the rest
did, they’d ’ave rejuced it to $3000."
MONEX IN WHEAT
CIA HO Bu>t. T*nts or Calls on 10.000
wluwU bushels of wheat, no further
risk. A movement of 5c from price gives
you chance to take $500.00; le $400.00;
3c, $300.00. etc. Write for particulars.
Tlir Central Stock A drain Cu.,
**ark lllil*., Cleveland, O.
leadership in the face of several strong
bearish factors today advanced wheat
i/4 iff to Us. Corn finished ^fa'^c up
and oats % @ to higher. Pro
visions closed a shade to 5<&7Vfcc orr.
Because of Whitsuntide holiday at
Liverpool the wheat market was largely
“home made." Bulls’ sentiment was ap
parent front* the first, all options, ex
cept May, which was weak at the strfte,
after yesterday's Hurry, showing
strength. Cables told of continued cold
weather over southern Europe and thi
aided the bulls. Bearish news such as
large increase in southern and north
western receipts oHnyheat, reiteration
of favorable winter crop reports and
news that spring wheat is about 80 per
cent seeded, could not check the ad
vance.
Acceleration of the upward movement
cam© when wheat bulged at Minneap
olis, shorts there being driven to cover
and finding offerings light. Even May,
the weakest option her..*, had an uplift.
Cash prices on the strength of some
export demand, improved and this also
helped futures. Thence forward the mar
ket showed increased strength and the
close was very firm.
Primary receipts of wheat today,
506,000; last pear 342,000 bushels. Sea
bPtird clearances of wheat and flour
equalled 362.000 bushels.
Lightness of offerings continued to
be a feature of the corn market. On
good demand strength was shown
throughout the session. Reports of pool
condition of oats in some quarters and
covering by May shorts gave greater
strength to the market than noted for
some time.
Provisions were depressed because
of large accumulations here of lard.
Offerings from the west weue also large.
General trade was light.
Future quotations were as follows:
\Y lieat— Open. H ig'ii. Lou\ C lose™.
Alr.y . 89% 89% 89% 89%
July . 89% 90 89% 89%
Hep* .... SO Vi 89% 89 Vi S9%
Corn.—
Mr.,- . 55% 56 55% 55%
July ..... 56% 56% .16 36%
Srcpt . 36 74 57 *4 56"4 57
Gals— v.
Ala y .55 % 3. -in q 36 **r
July . 351 \ 35% 35% 35%
Sept /. . . . 35% 33’% 35% 35 V:
Pork—
Alay .10.25 19.25 19.25 19.25
July .19.22*% 19.22% 19.10 19.22*5
Sept. 19.07*2 19.07% 18.92% 19.02%
Lard—
Nay .10.90 10.90 10.85 10.87*5
July .10.75 10.75 10.72*% 10.75
He.it .10.80 10.SO 10.75 10.80
Mbs—
May . 1 1.10 1 1.40 11.40 1 1.40
July .10.95 10.97%. 10.92% 10.95
Hep; .10.82% 10.85 ~ 10.80 ~ 10.85
Crain Receipts and Shipments
Kansas City, Alay 10.—Receipts,
v beat 48,000, corn 2S.OOO, oats 4000.
shipments, wheat 35,000, corn 30,000,
oats 20,000.
St. Louis Produce
St. Louis, May 10.—Flour dull; hay
firm; receipts', flour 6o0o, wheat 3 20,
000, corn 61,000, oats 66,000; shipments,
flour 13,000, wheat 52,000, corn 51,
000, oats 28,000.
Kansas City Grain
Kansas City, Alay 10.—Cash when*
No. 2 hard. 85ft 88 %c: No. 2 red, 9 5
ft 98c; corn, No. 2 mixed, 58*4 @59c;
No. 2 white, 59c; oats No. 2 white, i
56 5c; No. 2 mixed, 3 5 ft 3 5 % c: close,!
wheat, July. S5%.\ 8374 ft 84c; corn, May,
56%< ; July, 55%c: September, 55% ft
55%c; oats, Alay, 35%c; July, 35%c.
St. Louis Grain
St. Louis, May 10.—Cash wheat No. °
re.i. $1.04%; No. 2 hard, 90ft 92*%c: corn,
No. 2, 58c; No. 2 white, file; oats, No.
2. 35 *% ft 35% e; No. 2 white, 37ft 37%e;
close, wheat. July, 87%ft87%c; Sep
tember, S7ai <■; corn, September. 87%e:
corn July, 56%c; September, 56 74 @ 57c;
oats, July, 3474c; September, 3 47sc.
New Orleans Rice Market
New Orleans, May 10.—Rice strong;
receipts, rough 495, clean 2024, millers
182; sales, clean Japan 400 at 2% ft;
3%c; quotations, rough Honduras, 2.50
ft 4.25c; Japan, 2.75ft 3.50; clean Jlon
<1 u ras, 4 % ft 5 * 2 c; J a pan, 3 % ft 4 c.
Know Your Own Soul
Human nature is much the same now
that it was in t ie time of Socrates. The
motto of the ancients, “Know thyself,"
is as much needed in our day as in theirs.
Tennyson has expressed it as the trinity
of “self knowledge self rcverance, sell
control.” *
It is the first duty of every man and
woman to get acquainted with ids or her
own soul.
You are a world in yourself, a world of
remembrances, a world of experiences, a
world of wisdom, a world of forces.
Why not tap these storehouses and use
them in your life and in your work?
If you do not understand yourself no
body else will understand you.
Ail education, all activity, all expression
are but methods of finding yoursef.
You are not a creature of heredity, of
environment or of accident. You are ol'
divine lineage; you are greater than cir
cumstances.
Kings have lacked the facilities and
comforts that are yours to command.
You have knowledge which" the greatest
of the ancients lacked. Y'ott live In an
age that offers every opportunity and in
centive to success.
You know or may know something of
all lands and all races, of (lie secrets of
natural forces, of new ways of doing tne
work of tile world. Why not, then, know
that which is closest to you—your own
being?
When you know yourself you will know
your work.
When you believe In yourself others will
believe in you.
When you know your own powers you
can use them to some noble end.
1 do not mean that you should spend
your life in idle Introspection. Knowl
edge must be translated into action.
I only mean that you should not work
In the dark; that you should intelligently
use the forces at your command.
Cease living only on the surface; cease
using only your surface powers.
Awaken your noul. Awaken It by re
ligion. by poem . by travel, by thought,
by broader < ulture, by any necessary
means, but awaken It.
Throw your whole self into the game.
Don't tie afraid. Have faith and purpose
and'energy and you will arrive.
Know yourself and be yourself. Know
the best that is i» you and express that
best in your life and in your worit.
Babbling Brooks
From tlie Houston Post.
"Who is the Ml"-* Virginia Brooks so
prominent in suffrage circles," asks the
Inquisitive subscribe' at Wharton. We
are not acquainted with .Miss brook.', but
we assume that sin* bc.ongs to the bub
bling Brooks family.
After Kissing
From the Yonkers Statesman.
Patience-"Were ; on not outdoors ve,-.
earls this morning?
Patrice- "Ye I was.
"Why.
"Because i read yesterday that the
mummy "un Me ed everythin*,"
- LITTLE ACTIVE
Prices Advance on Scatter
ing Demand—Close Is
Firm
New York. May 10.—The cotton mar
ket was not active today, but pricey
Advanced on a scattering demand which
seemed to come partly from some of
yesterday's late sellers, and the close
"'an firm at a net gain of from 4 to
S points.
The opening was steady at unchanged
prices to an advance of 2 points on
covering for over the week-end and
a moderate demand from trade sources.
The buying was not particularly ag
gressive, and the market <1 id not seem
to 1*© attracting much fresh outside
I demand for long account but prices
worked gradually higher and there
; seemed to bo very little cotton offer
ing. The close was within a point of
the best. Owing to th© holiday there
wi i no cables from Liverpool, which
'•dl he closed again on Monday alld
a] t on Friday and Saturday of next
's «•« k, hut mail advices confirmed re
cent cables indicating a much more
favorable view of trade conditions
abroad and there was a little buying
h?r< which was attributed to the con
tinent. Reviews of domestic goods trade
conditions also read rather favorable
as western distributors reported more
titan a seasonably active business in
the interior, while sales of print cloths
at Fall River showed a distinct im
provement. These considerations anjl
talk of further shipments from the
local slock probably accounted in part
for the steadier tone of tlie market but
the covering movement was more gen
erally attributed to the failure of
weather reports to Indicate any addi
tional rainfall of consequence In tn°
eastern belt and the official forecast
I for continued clear weather with lower
temperatures in that section.
New York Cotton Futures_
Open. High. Low. Cl.B(l.
January To795 1 iTo0 10.95 10.
February .... 10.91 .
March . 11 •• 1 n.04 11.04 11.06
May .11.35 1 1. 13 11.42 3 1.47
Juno . 11.56
Jul> . 1 1.51 11.60 1 1.52 1 1.59
August . 11.30 11.37 11.3 1 1 1.36
September. 11.09 11.09 1 1.08
October . 10.96 1 1.0.3 10.95 1 1.02
November ... 10.B5 ... .....
December ... 10.98 11.03 10.98 1 l."3
Port Cotton Movement
Galveston: Firm: middling, 12V: net
receipts, 1 139; gross r» 1 ipts. 1 139; sales,
126; stock, 128.589; coastwise, 256.
New Orleans: Quiet; middling,
12 3-10c: net receipts, 3291: gross re
ceipts.**«i867; sales, 29> ; stock, 74,708:
exports to France, 1219; to the conti
nent, 100: coastwise. 123. to Mexico, 21.
Mobile: Fiftn; middling, 11V. net re
ceipts, 201; gross receipts. 204; stock,
9214.
Savannah; Quiet; middling, 12c; net
receipts, 2463; gross receipts, 2463; sales,
543: Stock, 62,335; coastwise. 200.
Charleston: Quiet; middling, 11 aic:
net receipts, 375; gross receipts, 375;
stock, 1 6,399; exports to Great Britain,
397 5.
Wilmington: Nominal; net receipts,
50; gross receipts. 50; stock, 20.249.
Norfolk: Firm: middling, 12c: net re
ceipts. 627; gross receipts, 627; sales.
543; stock, 35.167; coastwise, 2998.
Baltimore: Nominal; middling. 121V.
stock, 4368.
New York: Quiet; middling, 12c; gross
receipts, 529; stock, 111.315; coastwis*,
14 9.
Boston; Quiet; middling, 12c; gross
receipts, 998; stock, 10,038.
Philadelphia: Steady; middling. 12.25c;
nft receipts, 3 10; gross receipts, 310;
stock, 2025.
Brunswick* Stock, 8731.
Texas City: Net receipts, 3IS; gross
receipts, 318; stock, 84 94.
Jacksonville: Net receipts, 4; gross
receipts, 1; stock, 544; coastwise, 67.
Total today, at all ports: Not. 9111;
exports to Great Britain, 3975; to
France, 1219; to the continent, 100; to
Mexico, 21; stock, 495,200.
Consolidated, at all ports: Net. 9111;
exports to Great Britain, 3975; to
France, 1219; to the continent, 100; to
Mexico, 21.
Total since September 1, at nil ports:
Net, 9,349,232; exports to Great Britain,
3,257,243; to Franco, 938,066; to the con
tinent, 3.138.864; to Japan, 338,698; to
Mexico, 10,160.
Interior Cotton Movement
Houston: Steady; net receipts. gross
receipts, 9:58; shipments, 27F stuck, 851,0:58.
Augusta: Steady: middling 12c; net
iccolpts, 63; gross receipts, lu3; shipments,;
1-41; sales, 271; stuck, 44,05:5.
Memphis; Quiet; middling, 1211 c; net
receipts, 134: gross receipts, ::v7: ship
ments, 2105; sales, GUO; stock, 73.121.
St. Louis: Dull; middling. 12V; net re
ceipts. 50; gross receipts, 366; shipments,
341: stock, 29,773.
Cincinnati; Net receipts, 360; gross re
ceipts, 360; shipments. 195; sales, 450;
stock. 27.272.
Little Rock: Quiet; middling, 1 !•*<•; net
receipts, 80; gross receipts, SO; stock, 26,193
Greenville: Quiet; middling, 11V
Total today: Net receipts, 1625; gross
receipts, 2235; shipments, 5658; sales, 1271;
stock, 281,050.
Weekly Cotton Review
New Orleans, May 10.—It was rather n!
dull week In the cotton market, althougn I
a good tone was displayed by the future
department ami the net results of tics'
week's trading was an advance of 15 to
20 points. The high prices were made
«ui Friday and the low prices on Mon
day. At the highest the trading months
were IT to 21 points over last week’s
close; at the lowest they were 3 to 1
points under. The range was 23 to 28
points.
At the beginning «f the week the tuc
ket had an oversold appearance and
leading bull operators played against .Ids
technical position Steadily, although there
was nothing spectacular about their tra -
in,v. Bullish circulations called the teclu
nlcal position of the market strong, al
Iho r impartial observers were incline 1 i
to think that any bullishness in this di
rection was offset by ttie unfavorable I
showing made by statistics. Outside of
the demand for covers from shorts the
main bullish influences wore the lack
of rp<n« In the eastern half of the belt
and the steady low night tempcrat'.u
over a large part of the entire holt.
Many reports of extensive replanting came
In which stimulated buying for both u
counts, although at no time was the |
demand strong enough to cause much \
of any excitement around the ring.
The fact that exports of American cot- !
ton were again larger than in the conv
sponding week last year excited favor
able comment but mill takings were bear
ish and So was the variation in theyvis
Ible supply. The tendency was to liqui
date old crop contracts and replace them
in the new. interest in the old crop a t
uatlon plainly waning.
In the spot department prices lost 1-lCc:
pnlddlinir rloHimr at 12 Hwij mriiinut I
S'-l bales, against 2311 lusi week and 120
this week last year. Sales to arrive
amounted to -SSK» bales, against 103o l,;.st
week and 3K) this week last year.
Weekly Cotton (muds Review
New York. May 10.— Fotton goods mar
ket: touched n low point and reacted
during the week, closing steadier than
they have been for some little thru
About fno o pic cs o print cloth- were
vjld 170,000 a,t Fall River. Prices varied
COTTON ADVANCES
IN EARLY TRADING
Market Dull at New Orleans
With Liverpool Closed for
Triple Holidays
New OWeans, May 10.—With Liver
pool closed for triple holidays, the local
cotton market wus dull today although
it had a good tone and moderate buy
ing served to bring about a moderate
advance. At no time was the market
under much selling pressure, shorts
telrg cautious because of unfavorable
report8 from important sections of the
cotton region.
The opening was steady, 3 point up
to i point dow*n,'compared with the last
quotations of yesterday. The weather
map was clear and dry, substantiating
complaints of drouth In I he eastern
belt. Temperatures showed mf warm
ing up and complaints of the effect of
cold nights increased. Buying was
steady although in small volume and
the market gradually advanced in the
early trading. The posting of the fore
cast predicting fair weather for Sun
day of practically tlio entire belt, with
cooler weather in the eastern half, in
creased buying and the market finally
wont 6 to 7 points over tho closing
level of yesterday. The close was firm
at a net gain of 7 to !» points.
Hears met bullish claims of crop
damage by circulating reports from
Texas an^ Oklahoma claiming almost
peifeet conditions and an unusually
early start. These reports held the
market from making quick advances,
especially in the early trading.
New Orleans Cotton Futures
_ (>pen. (ligh i ,uu . t i.p. f.
January . li.tl 1L16 11.16 11.19
Mav . r.'.l.) 12.20 12.15 12.2"
June . 11.96 *.. 12 "6
Jui.v . 11.9 12.03 11.93 12.0?
August . 11.53 11.61 11.53 11.HI
September ... 11.21 11.23 11.23 11.28
October . 11.0!) 11.69 11.06 1 1.06
I >. cemlx r 11.08 11.16 11.69 n.:6
Now Orleans. May 10.^Cotton. spot
quiet, 1-16c up; middling, 12 3-t6c;
sales on the spot, 298 bales; to arrive,
none; low ordinary, 8.3 -16e nominal;
ordinary, 9R^c nominal: good ordinary,
Il'ic: strict good ordinary, ]l*«c: low
middling. 11", i : strict low middling,
12c; middling. 12 3-lGc; strict middling.
12:!;.c; good middling, 12 9-j6e; strict
good middling. 12-lic: middling lair,
13 3-16c nominal; middling l'air to fait,
18 0-16c nominal; lair, 13 15-1 He nom
inal. ltcceipts, 3294; stock, 71,702.
18 cents a yard from the extreme low
points.
Notice of the closing of ;i group ot
mills that supply the American Printing
company was accompanied by the state
ment that unfinished cloths could be had,
in the open market cheaper than they I
could be made, lienee it was considered
good business to purchase in the open
market when needs require* it.
The printing company is busy and busi
ness in prints lias revived in the past few
days.
Drills and sheetings did not decline as
print cloths did, but are gradually setj
tling to a more attractive trading basis.
Ginghams are quiet.
Bleached cottons rule steady. Fancy
cottons are being bought only l'or deliv
ery for fall. Stocks of cotton goods in
leading jobbing houses are lit * lowest
carried in several years at this period. A
similar condition exists in most mill ware
houses. curtailment being preferred now
i to accumulation of merchandise on which
I values may be uncertain when tariff re
I vision is complete.
Prices rule as follows;
Print cloth 28 inch. 64>:64s, 33* ceiUs; 64x
60s, 3V6 cents; 38*2 inch 64x64s. 5 and 5*a
cents; southern sheetings standard 7;!*
cents; denims !> ounces, 11 cents; tickings
S ounces, .1.3*4 cents; standard staple
prints, 6"4 cents; dress ginghams, 9*4
cents.
Dry (ioods
AV\v York. May 10.—Gotten goods mar
kets were steadier. Jobbers report a
moderate demand for wash fabrics. Silk
ribbons and underwear and hosiery arc
active. Linens arc quiet.
Hubbard Bros. & Co.’s Letter
New York, May 10. -There wore no ca
bles this morning since Liverpool is
closed for the Whitsuntide holidays. Mere
the market was very narrow arid dull and
practically without feature. July con
tinued to show relative strength and the
shrinkage In the New York stock seems
to attract attention.
It appears that in addition to the Liver
pool shipments < otton is also going t>»
other ports, so that we believe our esti
mate of the total shipments may be ex
ceeded.
Weather conditions remain about the
same. Showers fell in the Mississippi and
one or two points in Alabama, hut gener
ally speaking the Atlantic states begin to
need rain badly, which is now reflected
in the crop advices.
The result Is somewhat le • confidence
on the part of sellers, although the feel
ing remains extremely bearish.
The Wrong Cylinder
From an Kxchange.
The motorist emerged from beiuath the
ear and struggled for breath. Mis help
ful friend, holding an oil can, beamed
on him.
“I've just given the cylinder a thorough I
oiling. Dick.”
“Cylinder?” howled the motorist; “that,
wasn't the cylinder; it was my ear.”
Coming Issue of a Large
Government Loan the De
pressing Influence
New York, May 30.—New York, in com
mon with all world markets, felt the ben
efit of the smoothing of difficulties in the
way of European peace by Montenegro
submission of Scutari to the disposal of
the powers, but that this particular step
was pot considered conclusive was shown
by the moderate effect produced on mat
kots and by the renewed hesitation later.
Other symptoms proved tli^t financial
strain whether duo to J4ie political posi
tion. to preparations for increased arma
ments or to credit inflation in business
was unrelieved. Engagement of gold hi
New York, for shipment to Paris was
made to the amount of $8.000,OoO. The Batik
of France's holdings, desipte New York's
shipments eaVller in the year, still remain
lower than in January. French rentes,
also, have sold lower than since 1889. The
Wuming Issue of a large government loan
iw the depressing influence. Flotation >f
a Brazilian loan in London involves with
drawals from that market and Berlin Is
engaged with further preparation for the
addition to the "war chest.” With a
cumulation of gold thus promised by the
central banking institutions abroad, little
prospect is offered of a return to New
York of gold sent f£om here.
These indications of restricted money
supplies in the future are little calculate !
to relieve the prostration of investment
uenjand for new securities issues, which
Is kfeptug up with the <lifTi< ulty for rail
road and corporations of procuring need
ed capital. Thus urgent necessity also
spurred on the railroads to secure in
creased frelgh t rates, which assumed
definite form during the week.
Besides the adjustment of prices to the
basis of increased investment return, va
rious stocks arc affected by the quest ion
raised of ability to maintain'dividends
even at present rates.
Relations of government to business
were kept in view by the Xexplanation
given for closing down of textile mills
and for some industrial dividend reduc
tions. * X
This explanation involved the uncertain
conditions under prospective tpriiT
changes. The trouble over tlie Union V’n
cifle dissolution plan came under this
general topic, as did the measures direct.<1
against tin* New Haven system and th»
announced intention <>f the department f
justice to take further steps under the
anti-trust law against certain coal roads.
A decrease in specifications on steel con
tracts to a rate considerably below ship
ments was reported, following the entrv
into force «t* higher contract prices. \
falling off in t.he United States Steel cor
poration’s tonnage. disclosed in ih*
monthly statement, had been generally
foreseen, although the shrinkage was u >
expeetedly large. Poppers wore helped
by the April decrease in stocks of tho
metal.
The government’s estimate of a bum
per winter wheat crop is .supplemented
by reports of a forward condition for all
crops. This Is expected to prompt a liqu'
dation of grain reserves which would ef
fectually relieve the heavy loan expansion
of western banks. *
..——•••— ■■ - - —
On Cross-Examination
From tin* Popular Magazine.
Walter Kvans. United States judge for
the Sixth circuit and Western district of
Kentucky, has lo attend to a great many
offenders against the United States rev
' enuo laws. Recently, he had an old ne
I gro before the court for selling whisky
without license. Uncle George had been
in jail six months awaiting trial. He was
very long, and thin and gray, and gen
erally dilapidated In appearance. The
district attorney made out a complete
rase against him. The old negro hail no
attorney.
•Do you want to ask the witnesses any
questons, Uncle George?” inquired the
court.
"Yasslr, jedge: I'd like to ax a few oh
dat igger ober dere,’' Indicating a small,
chunky negro man with coal-tar complex
ion. Whereupon, Uncle George nervously
cleared Oils throat.
"Say, ooy. how’s yo' rna?"
"She's well, Uncle Georg.'
"Is do res1 of yo' folks w. il '
"Yasslr, dey’s well."
"Is yo’ wellT'
"Yassin, Use toler’ble. Un< lo Uicoi1-11 ’
"F h’lleve dat’s all, Jedge."
"Mr. Clerk." said the court. ‘ sin, e
George has refused so much of the dam
aging testimony against him. we will
waive a fine ire this case and just give
him six.months’ more rest."
Geo. B. Ward
STOCKS AND BONDS
v Inquiries Solicited
MEAL AND HULLS!
Selected quantity, prime cotton
seed meal. Feed meal. Fertili
zer meal. Ixxise or Backed
hulls. Car lots only.
F. W. BRODE & CO.
Memphis, Tenn. Established 1875
OTTO MARX & COMPANY
INVESTMENT BANKERS
MONEY TO LOAN
On improved business and residence property
at 5,5 1-2 and 6 per cent.
,4*
Also money to loan on improved suburban
property.
FLANKERS
m
Loans on central business
property at 5 per cent; on
high class residence prop
erty at 5 1-2 and G per cent.
We have $100,000.00 for
immediate investment, and
will entertain applications
on suburban property.
XfjCnts for All Transatlantic Steamship Lines