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The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, July 26, 1915, Image 3

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I ----—----- By Kl.l.lS HOIjLVMM___
Investors Count Heavily on
Profits From Huge
War Orders
Investment Public Is Expected Soon
to Take Railroad Securities
Which Will Cause
New York, July 25.—(Special.)—If there
| tfere an official record by means of which
| :here could be secured quotations for the
||ltocks of unlisted securities, then some
idea might be obtained of the magnitude
4f dealings in these securities and the
itrange—because it is now practically irre
sistible—tendency on tne part of many
>eople to make ventures into this vague
narket. If anyone seeks information from
hose who are qualified to speak resccct
ng the activities in the stock exchange
le would surely be told that the market
here is substantially a trader's or pro
fessional market. The meaning of that
Is that the public on the whole has not
leen tempted to venture greatly into this
I But there is an undefined market, whose
location cannot be identified by any boun
liaries into w’hich the public Is now’ ventur
ing, and with something like speculative
mpulse. Attention a few days ago was
European The Metropoli-1
I fan Hnfol Under new manage
ld.ll lTUiei ment. Centrally lo
cated. Steam heat and telephone In
every room. $1.00 per day up. I
No. k 10. 112 mid 14 Twentieth Street.
P W. O. Lannlng Proprietor
Eugene Flos, Pres. und Trena.
j Southern Asphalt &
| Construction Co.
I Rooms N14-ir>-Ut American Trust
Building. Telephone Main 0411
1013-1015 FIRST AVENUE
11 Telephone Main 0003
W. T.
I Gear Cutting n Speelalty
A utontoliiIe Part* Duplicated
on Short Notice
1010-14 N. 10th St. Main 3571
The Oliver Electric &
Machine Co. iVOltKS
Electrical and Mechanical Engineers
Motor*. Generator* and General
H Repairs. Phone 1030

The Birmingham security situation is
practically unchanged. Quotations hold
hrm. The increase of output at several
large plants has recently given re
newed interest to industrial affairs.
The iron market is reported quite ac
tive and dealers anticipate even larger
orders In the near future. Stock is not
being placed on the local market In
large lots.
Stock and bond quotations follow.
Local Securities
Kate. Bid. Asked.
Ala. F. & 1. 4 45 60
Arner. C. Rys.. pfd. 6 39 4*.
Amor. C. Rys. 10
Amer. T. & Sav. Bk.... 8 150 160
Avondale Mills, com.., 8 05 105
Avondale Mills, pfd.... S 100 108
Bessemer C. & I. .. 45
B’ham T. & S.10 245 255
B’ham Baseball Asfo... 140 170
B'ham R., L. & P., com 6 6L
B’ham R., L. & P.. pfd 6 66
B’ham Realty Co.4 150 175
• ’ham. of Com., pfd.... 7 60 70
Corey Land . G5 Sf.
Last Lake Land. . . 75
Elmwood Cem. Co. 4 60 76
Kmpire Im„ pfd. 8 100 102
Emnire Im„ com. 6 70 85
Ensley Land . 85 110
First Nat.’l Bank.12 230 250
I directed to this market by reason of a
| statement which was issued by an ex
j ecrtive officer of one of the great Indus
; trial corporations, who strongly advised,
!for reasons which he gave, against the
i purchase of the stock in his company,
I at least with the expectation that it would
j speedily resume the payment of dividends,
j The effect of this statement was instantly
'identified since the stock of this indus
| trial company which is listed in the stock
i exchange fell off G points on the day
I which succeeded the publication of this
| statement. So also the stock of other iii
j dust rial s which are listed upon the stock
j exchange fell off as a direct result of
! the counsel of Horace S. Wilkinson of
I Syracuse, the executive officer of the in
I dustrlal whose stock has been for some
j days booming.
j What appears really to have happened
j which has stimulated some part of the
public to venture into that vague and un
I defined market in which unlisted securi
| ties are dealt in is the belief that on ac
count of . the enormous orders which have
j been received from belligerent nations and
| from those that are neutral, as well, these
i corporations are soon to be In possession
I of funds which, whether applied to re
! sumption of dividends or credited to sur
plus account, will create new values which
| will justify a great increase in not only
Machine Company
11 (Ml Ini Ave. Phone S7S
j The Jones Agency
A. A. Jones, Mgr.
! Commercial Law and
R00-14 Title Guarantee nulldlng;
nirmliiRham, Ala. Main 87111
i; .,
j When In Need of Special Ruled
I Forms, Itludlng; and Printing Call
| Main 1441
i Alabama Paper &
Printing Co. 1T0Lesornd
I . .1. !■ .
A. H. MOORE E«H,.lv. for
! „ , Burrowes’ Rustless Screens,
j Contractor Monarch Metal Weather
J Strips, Hardwood Floors.
If Not, You Are the Man We Are After
• PUnnlnK Other* 30 Yearn, Why Not You?
j| 20I0-1N Third Ave. nirmliinrham, Ala.
If >
B Spiro-Merrell Heating & Roofing Co.
“Quality—Service** PHONE l/IO
H j
^Hr"“ ...■ "
a T. M. McClellan, Pres. J. A. Coker, 3ecy.-Treas.
Ki Birmingham, Ain
m J
^B^^3l3^Vorth^20th^8t.*■ Phone Main 3000 ^
Make This an Electrical Year
B Electrical Appliances
mm for Home Comfort, Economy and Convenience
Great Sou. Life. 9 11
Interstate Casualty ... 1 8
Jefferson Fertilizer ... 8 106 120
M. & M. Bank . 6 116 125
Nortn B'ham Lund_ 15 23
Realty T. Co., com. 6 10O 110
Realty T. Co., pfd. 8 100 110
Sou Sftues Fire . 1 3
Traders Nat Bank _ » 160 160
Ala. State ref.. 1920... 4 »« 100
Ala. State Renew. 1966. 814 80 86
Ala. State Renew, 1960. 4 99 101
Amer. C. Rys . 6 87 89
Ala. Con*. 6 76 80
Btsaemer C. & 1. 6 100 103
B. R.. L. & P. « 93 96
B. R„ L. & P. 4 14 86 89
B'ham Ice Factory_ 8 100 106
B'ham R. & E . 5 100 103
B'ham Waterworks ... 6 103 105
City of Birmingham... 6 100 104
City of Bit nilngham... 5 96 101
Continental Gin. 6 100 105
Jefferson County. 6 101 104
Jefferson County. 6 102 107
Jefferson County. 414 95 101
Milner Land Co. 6 96 101
Nashville Railway .... 6 96 99
Pratt Consolidated .... 5 77 S3
Sloss L. & S. 6 97 100
Sloes I. & S. 414 92 95
T. C. I., gen. mtg. 5 95 100
T. C. I.. Tenn. Dlv. 6 90 10C
1 T. C. I.. Ship Bldg. 6 103 106
r. C. 1., B’ham Dlv. 6 99 103
the value of. but the quotation for, these
Tills disposition may be illustrated by a
single example, one which is taken from
many of which report could be made. One
j of the largest of the industrial corpora
tions of the United States was compelled
about two years ago to suspend the pay
ment of dividends upon its common stock.
It had. in fact, made one or two divi
dend payments out of surplus. Business
depression had begun; it spread rapidly
throughout the United States; It affect
ed this corporation grievously. A consid
erable portion of its plant was unoccu
pied. it was compelled to offer to its
skilled artisans a choice of a reduction of
wages or else the working on part time
at full wages. Even then it was found
inevitable that skilled artisans be laid
off. The stock of this corporation dropped
many points below par. In July of last
year, the officers were in considerable
doubt respecting the future.
In October of last year orders for mu
nitions of war began to come from bellig
erent nations. There has been no let
up in these orders. The aggregate of
, them is many millions. Tn some way the
I public, or that part of the public which
| has some familiarity with this orgnniza
[ tion, became convinced that In addition
to the heavy war orders there were also
! profits of unprecedented size.
| Therefore, there began, early In the
spring, the demands from the public for
the common stock of this organization and
these demands have been steadily main
tained and Increased until In that unde
fined market In which unlisted securities
are dealt In the stock of this corporation
nowr commands many points above par.
How They Reason
The public which owns common stock in
this corporation has been deprived of div
idends for over twro years. Some portion
of this public is now persuaded to part
with its stock, figuring that the great in
crease in the market price for it is suf
ficient not only to make good the divi
dend losses, but also to provide a consid
erable profit.
The argument w'hich persuades others to
buy this stock is this; The corporation
will be compelled to make report at Its
annual meeting of its actual condition.
This w'ill show’ an enormous accumulation
of war orders upon which profits hereto
fore undreamed of will be earned. There
fore. whether the corporation begins to
disburse some portion of these profits in
the form of dividends or w'hether it adds
1 them to the surplus fund, nevertheless the
corporation will be in such financial con
dition that by and by the stock may com
mand a much higher price than it does
today. Demand and supply are In this
way met, and it is one of the features of
these transactions that hardly any of them
are upon a margin basis, but are outright
j purchases and sales.
j Some of the great corporations in New'
J England, especially some of those In Con
! necticut, which are known to have re
ceived stupendous war orders, and to have
•made contracts w’hereby very great profits
1 are possible, have discovered that the pub
lic is especially anxious to buy these
stocks, while on the other hand those who
1 now possess them are not very anxious
! to sell them, although they can do so at
| a good profit. Therefore, the quotations
i of bids will show constant appreciation.
| It is a fact that in the market for un
listed securities much the greater part
of the demand at the present time for
! stocks of unlisted corporations comes
; from New England. There appears to be
I m* ney in plenty in New England w'ith
which to make purchases of these stocks.
i =
Hell Phone Main 3070
j Birmingham Welding
& Machinery Co.
I Oxy-Acetylene Proce** for Cutting
I null Welding Metnl*. Auto Radiator
118 8. Twenty-Second St.
- mJ
Montgomery Coal
Washing & Mfg. Co.
Manufacturer* of
Mine MHcliluery of All Kind*
Office and Work*
3d Ave. and 12th St. Main 3110
2027 Second Ave.
Main 7SIIS Main 7S07
l.aricrat Var.l Deal Quality
Lurueal Stork Brat SerTlca
■ i
In Onlrrln* Good. 1‘lraae Mention
Kentucky Livery Co.
Birmingham, Ala.
Walter L. Metcalf, Manager
Carriage* For Wedding* and Fun
eral*— lf»23 to 1R3R Third Avenue
Vi ■ I i ■ i
-- S
HeidtCoal & Lumber
Ave. E From 16th to 17th
I .
Committee of Arrangements
Is Named To Make All
That T. P. A. barbecue very likely
will be held the latter part of August
and a committee has been named by the
local post to look Into the matter and
make arrangements, selecting the Bcenv
of the festivities, securing the food,
etcetera to numerous to mention—ull
the good things that accompany a bar
At the meeting Saturday night, all
the boys who are not married weit
auivsed to immediately get the con
sent of their Intended and become ben
edicts In order that they may be accom
panied by their wives on tin- joyous
.lust where the barbecue will be held
will be left to the committee of ar
rangements. This committee will select
an eusily accessible place and that
they will provide all the good things
to eat is a foregone conclusion.
The local post will meet again the
second Saturday night in August at
the Chamber of Commerce and more
data will be forthcoming ns to the
barbecue. A large attendance is ex
Our old friend. Jack Je.sscl, will be
traveling out of Birmingham with a
line of ladies' ready-to-wear before
many weeks pass. Jack is in New York
now making arrangements for the line
he is to handle, and writes that he is
enjoying the stay. He admits that New
York is "some burg," but says Bir
mingham still holds first place In his
James Woods, charter member of
Post B, T. P. A., is in Birmingham and
was a visitor at the meeting of tlie
local post Saturday night. Mr. Woods,
with his wife, is stopping at the Tutwi- j
ler and will be in the city three or!
four days. He hopes to be able to meet
his many friends while here.
Mr. Woods was a resident of Bir
mingham for about 20 years and still
refers to this city as his home, but he
is now making his home at Shelby
ville, Tenn. He has just returned Worn
New York, where he lias been making
war contracts for shoes and harness.
Mr. Woods says conditions in the east
are very flourishing and that business
throughout the country stems to be
greatly improved.
At the meeting of the T. P. A. Satur
day night Mr. Woods delivered a sh -rt
address on the war and those present
found much of interest in his address
Columbus, Miss., July 25.—(Special.)
As the primary for the nomination of
state and county officers who are to
serve during the ensuing four years
draws near the political pot Is be
ginning to boil with increased inten
sity and some of its steam will reach
Lowndes county this week when two
of the state’s most prominent politi
cians, Hon. Earl Brewer, the present
governor, and Hon. Marion W. Kelly,
who is a candidate to succeed him, wrill
deliver addresses here.
Governor Brewer is going over the
state making speeches in defense of
his administration and was invited to
come to Lowndes county by his local
friends and supporters. He will speak
at Caledonia Wednesday afternoon and
In Columbus Wednesday evening. Mr.
Kelly will HR^ak at Caledonia Monday
afternoon agrl in Columbus Monday
evening, and his friends hero are pre
paring to give him a rousing recep
tion, having engaged a brass band
from West Point to come over and play
at the speaking.
Tt frequently happens that there are evl
derces of a quick turn over. In one sense,
this is speculation, but It Is not specula
tion on a margin, at least as a general
It is is this disposition of the public
which of late has been strongly manifest
ed which is leading to the Impression that
the time is not distant when the public
will begin to buy railroad securities. When
that time comes we may look for the be
glnring of what is called "a boom” in the
securities market.
The brokers who constitute a special
class who deal In unlisted securities are
discovering that this Is a harvest time.
They have had many lean months. At
times there was practically no market for
unlisted securities and brokers spent the
day looking out the window. Now they
are about as busy as are any of the brok
ers, and they look for a steady increase
of businss of this kind. They say that
I the people have reasoned that there can
not be continued accumulation of pay
ments upon a very large scale for war
orders without thereby replenishing and
greatly replenishing the treasuries of the
industrial companies. So that it makes
little difference, so far as the inherent
value of those stocks Is concerned,
whether or not some part of the profit Is
converted Into dividends or whether all
the profits are put into surplus funds, for
the value Is there In either event.
Dothan, July 24.— (Special.)—Eighty
thousand dollars wil he expended by
the Atlantic Compress company in the
erection of an immense cotton com
press in this city, according to an
nouncement made today by T. A. Wall,
superintendent for the company here.
Work on the new compress will com
mence Monday morning and will be
rushed to completion as quickly as
The new compress will take the place
of the Central of Georgia compress,
which, was destroyed by fire, caused
by lightning several days ago. The
former compress w'as owned by the
Central Railway company of Georgia
and leased and operated by the At
lantic Compress company. The new
press will be located on the same site
as the old but will be owned by the
Atlantic Compress company.
New Decatur, July 25.— (Special.)
Barnett Wlnton, 17 years old, son ol
W. H. Wlnton, was drowned toda>
while bathing in Flint creek. Date to
day the body had not been recovered
Young Wlnton was employed her«
i by the Alabama Power company, lit
I recently graduated from the New De*
I catur high school.
Traveling Men Report Much
Enthusiasm Among the
State Merchants
Tremendous interest is being man!
tested in the forthcoming meeting in
Birmingham of the Alabama Merchants'
association, traveling men in this ter
ritory reporting much enthusiasm
among the merchants throughout the
state. It 1h expected there will be fully
2000 in attendance at the convention
of Alabama merchants and local sal*r
men are making their plans accord
The entertainment features this year
will be on a more elaborate scale than
ever before, and one of the most inter
esting events of the occasion will b» a
boat ride down the Warrior river to
Lock 17. Incidentally, a barbecue lunch
will ho served the merchants and the
return trip will he made by moonlight
The several committees under Gen
eral Chairman Murray Brown are hart
at work and great things are in stove
for the merchants who attend the eon
Huntsville, July 25.—(Special.)—Rel -
i.tives in Huntsville were notified last
i night of the death of Mrs. Wilson
Ihbb, an aged lady, in New York. Mrs
Bibb was an aunt of Mr. Archie Rison
and she had a large number of rel
atives in Madison county.
Eleven Madison county boys left this
morning for Auburn to attend the prac
tical school of agriculture. They are
Marvin McNutt of New Hope, who made
the best record in the Madison county
corn club of last year; Wall Johnson,
who made the highest score in the pig
club; Emmet and George Graham of
Gurley; Roger Williams of Belle Fac
tory; Mid Jones of New Market; Wright
McCary of Deposit; Robert Rodgers of
New Market: Bernard Vaughn of Mon
rovia; l^eo Wall and Randolph Ivy of
Monrovia and Lawson Hutton of •
Anniston Banker Returns
Anniston, .July 26.—(Special.)—O. M.
Alexander, vice president of the City
Hank and Trust company, who has
just returned from an extended trip
through tiie west, including a visit to
tlie Panama exposition, stated yester
day that very little financial depres
sion can he noticed in Oregon and sev
eral other of the states lie visited. Mr.
Alexander is a number of the city
council from the First ward and as
chairman of the sanitary committee
has been waging a campaign against
the fly and all insanitary conditions,
lie said that he noticed, especially in
Oregon, that the house fly had little
chance to prosper as he Is swatted
light and left in the campaign there
against disease.
May Call on Fat Men
Paris. July 10.—(Special.)- The ‘Tent
Kilos,' the 220-pound men who heretofore
have been exempted from military duty,
are likely to be called upon for service I
in the auxiliary corps. The chamber isj
discussing a law to revise all exemptions!
and attributions of troops in order to)
increase the effectiveness of the army I
at the front. The 220-pound men ore not
considered apt for service In the zone of
operations but it is maintained that they
are perfectly capable of guarding lines
of communication and doing other service]
in the auxiliary department that would,
relieve men capable of active service. I
-*■ that every one going this August to the
famous New Jersey beaches shall
Stop Over
in Philadelphia
On inquiry at railroad offices it will be found
that all the Summer return-trip tickets to these
resorts give the Philadelphia stop-over privilege,
so that travelers may pleasantly break their
journeys and have opportunity to see the most
American of all our cities.
John Wanamaker
On request by postal
we will mail
without charqr a ueir
Guide Book to Philadelphia.
New Orleans, July 25.--While the cot
ton market was steady enough last
week, prices displayed no very dee Id* -1
inclination to advance or decline. The
('lose for the week was at a net loss
of 20 to 22 points. At times operators
for a rise took advantage of the lai :;«•
short interest, causing much covering
but the weather conditions and exp* • -
tations of a bearish August condlti n
report favored the bears.
Mirons to find a solution of the prob
lem presented by cotton exports w i •
regarded hopefully and caused more or j
j less buying. Outside of tills, world poll j
I tics was given little consideration. Spot
| people reported a fresh inquiry for cot
ton from Italy and futures were stead
led by reports that it was growing
increasingly difficult to buy cotton in
the interior at current quotations.
This week the market will face tie
August report on condition, which will
b»* issued Monday, August 2, covering
the crop up to today. While the henry
feel that the percentage will favor them j
and unbiased traders are inclined to
look for a favorable report, the bulls
predict deterioration. Therefore, it is
likely that trading will be more or less
restricted this week.
The opening of bolls In the ear’v
districts of the belt and developments
connected with the export situation arc
expected to he features of interest
Hears cannot see how the first receipts
of the new crop, soon due, cmn meet'
anything but falling prices, but bulls
believe buyers are ready to take the
eariy movement at present prices, in
reward to exports, hulls argue that
things could not be worse and that any
change must be for the better.
Stamp Act in Panama Suspended
Panama, July 10. (Special.) President
Porras has issued a decree suspending the
operation indeMnltely of the stamp act,
passed by the recent session of the Na
tional Assembly, which was intended to
aid materially in rehabilitating the
Unances of Panama The 1'resident's ac
tion is the result <>f the representations
made to him by the recentlj organized
Association of Commerce of Panama,
which pointed out that the act as passed
I did not provide adequate or equitable
j machinery for tin* collection of the tax
I imposed.
1 The act was to have gone into oper
ation on June 1, and imposed internal tax
oi. all legal and banking documents,
( wines, liquors and other spirits and to
I hacco, cigarettes and cigars. It Is strictly
i a revenue measure and will become oper
ative as soon as the taxes imposed ean
he properly collected.
For Infants and Children
En Use For Over 30 Years
Always hoars —
^"nature of
via Rock Island Lines i
Cool — Convenient — Economical
With the summer excursion fares in effect daily to j
September 30 and the possibility of good board as low
as $8 per week, Colorado has proven to be the place of
places for a real out-of-doors vacation.
The turquoise sky, constant sunshine, invigorating
air, cool nights, wonderful snow-capped mountains, canyons,
lakes, streams, the unusual opportunities for outdoor sports
are free to everyone.
Best of all Colorado is near.
Through Sleeping Cars Daily
From the Southeast
“Rocky Mountain Limited” from Chicago, “Colorado
Flyer” from Kansas City and St. Louis, and other fast trains
daily at convenient hours.
Finest Modern All-Steel Equipment \
Automatic Block Signals Superb Dining Car Service
Only Direct Line Between the East and Both Denver
and Colorado Springs
Our literature free for the asking—"Colorado," g
“Little Journeys in Colorado,” Hotel and Board
ing House booklet, etc. Write our Travel Bureau, U
411 Peters Building, Atlanta.
H. H. HUNT, Di»trict Passenger Agent 3
For $63.SO you can buy a Pock /eland Scenic Circle Tour It'
ticket to the Expotitione in California with etopoeer in Colorado if
' \
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