The Birmingham age-herald. [volume], October 08, 1915, Image 11

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

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ECOVERY OF PRICES
ference That “the Public”
Is Participating in the
Speculative Mania
- •
Jew York, October 7.—T»ie inference
lerally drawn from today’s remarkable
lovery of prices in the stock market
that “the public^’ who Is an un
own quantity to Wall street, is partici
ting; in the speculative mania to an ex
it probably unprecedented in the annals
the stbek exchange. On no other
>vnd, said dispassionate observers, was
ogical to explain the free and confident
sorption of securities witnessed after
iterday’s viplent upheaval.
!asy money, it is realized, constitutes
important clement in the situation, de
te the closer scrutiny of loans by finan
.1 institutions and the admonitions from
quarters against marginal opera
nt'. Much of todays buying emanated
>m yesterday’* rfiost active selling
:rces and was materially assisted by
gent short covering.
ncreased strength of railways, which
lo more consistently than at any re
U period, on a broader demand, was a
lolesome feature. Representative shares
that list were 1 to almost 3 points
rher. United States Steel’s rise of 2%
80% on dealings aggregating over 10
r cent of the whole denoted influential
>Port for that issue.
'wo new records stood out in the day’s
alings. Bethlehem Steel, now’ in a clas3
Itself, rose to 460, an overnight gain
60 points, and Inspiration copper ad
uced 2% to 47%. Anaconda copper came
ward with an advance of 3% to 75% in
7 final hour, the whole list regaining
vigor of the early session and closing
th a vast majority of net gains. Total
les were 1,500,000 shares.
Recoveries of 6 to 10 points from yes
day's final quotations and of 10 to
from the minimum of that session were
jistered by many of the war issues,
remost in the movement were Crucible
eel, Baldwin Locomotive, Westlnghouse
d Colorado Fuel and Iron, while Motors
d some less distinctive etock made
ual recoveries. Philadelphia company,
ttsburg Coal common and preferred and
b United Railways issues shared to ft
bstaitial degree, as did America^ Beet
gar on the proposed repeal of the free
gar tariff act.
'he government report, showing an im
oved condition and indicated higher
fid for corn, with higher estimates for
ring and winter wheat, bofe out all
own conditions regarding the crop out
)k.
Some sensational gains were made by
pper convertible issues, with general
engtli in the bond market. Total sales,
r value, were $6,540,000.
Jnited States bonds recorded no change
call.
Stock Quotations
Sales. High. Low. Close.
lls-Chal.7400 44 % 42% 43 %
ner. B. S.7300 68 65% 66
ner. Can _23200 63% 62 63%
C. & F.18500 84 80% 83%
ner. C. pfd. 46
ner. Cot. Oil .15100 61% 59% 60%
ner. Loco. ..11100 67 63% 66%
ner. Smelt. ..14600 87% 85% 87%
ner. Sugar.108%
ner. T. & T. . 700 123% 123% 123%
ner. Tob. 600 227 225% 226
ia. Cop.63000 75% 72% 75%
chison .S800 105% 104% 105%
C. I. . 500 112 110 112
lid. Loco. ...22400 117 110% 115%
0.9200 89% 88% 89%
R. T.1300 85% 85 85%
ith. Steel .6000 450 409 449%
in. Pac.5600 162% 161% 162%
n. Leatli. ...13700 54% 52% 63%
& O.11700 56 54% 64%
M. & St. P. .3000 88% 87% 88%
R. I. & P. .13900 23% 21% 22
>n. Gas .10800 136 129% 136
uc. Steel ....4100 93% 85% 91%
•le .26000 34% 32% 33%
in. Elec.6700 178% 175% 178
ill. ATo. 400 343% 336% 336%
N. pfd .2900 121% 120% 121
. Ceil. 100 106% 106% 106%
tcr.-Con. Cor. 11200 22 21% 21 %
C. S.8400 28% 27 27%
•high Val.1200 147% 146% 147
& N. 500 122% 121% 122%
Kgett & Myers.225
irlllard Co., .... 175
, K. & T. pfd. 12%
ex. Pet.17200 91 89% 90%
it. L. ex div .2400 67% 66% 66%
Y. C.11600 98% 98% 98%
Y„ N. H. &
Hart.10400 117 115% 116%
& W.10400 117 115% 116%
>r. Pac.6100 112% 111% 112
snn.7900 115% 114% 114%
lading .53400 155% 154% 154%
I. * S.8300 62% 50% 62%
do pfd . 300 102% 102 102%
A. L. .1100 16% 16 16%
do pfd .1700 38% 37% 38%
oss-Sheff. Steel
and Iron .... 800 59% 56% 69%
ude. Cor. 12200 144% 142% 143%
iu. Pac.14200 94% 91% 94%
u. Rv.3100 19% 18% 19
do pfd . 800 68 67% 67%
•nn. Cop.10700 65% 63% 65
ixas Co. 600 107 165% 165%
& P....2200 12% 11% 13
lion Pac.23200 134% 133% 133%
S. Rub.10000 54% 53% 53%
S. Steel _154800 80% 78% 80
do pfd . 700 114% 114 114
ah Cop.20400 70% 68% 70%
-C. Chem. ...1000 42% 41% 41%
est. Union ..10000 76% 76% 76
est. Elec. ..133800 137% 128% 134%
. N. Ore _8300 47% 46% 47%
Total sales for the day, 1,500,000
lares.
Bonds
S. 2s registered . 97
S. 2s coupon . 97
S. 3s registered . 100%
. 9. 3s coupon ... 100%
. S. 4s registered .. 109
S. 4s coupon . 109%
mama 3s coupon . 100%
•ntral of Georgia Con. 5s .... 97
inols Central ref. 4s . 84
luisville & Nash. un. 4s . 90%
saboard Air Line adj. 5s . 64%
mthern Bell 5s ... »7%
>uthern Railway 5s . 97%
uthern Railway gen. 4s . 66%
S. Steel 5s . 102%
Mercantile Paper
New York, October 7.—Mercantile pa
r, 8@3% per cent; sterling 60-day
11s, 4.67; demand, 4.70.15; cables,
70.65: francs, demand. 6.80.50; cables,
79.50; marks, demand, 83; cables. 83%;
■es, demand, 6.27: cables. 6.26: rubles,
mand, 34; cables, 34%; bar silver,
%c.
English Money
London, October 7.-Bar silver, 23 15-16d
r ounce. Money. 4% per cent. DIs
We Buy and Sell
STOCKS AND BONDS
On All Stock Exchanges
OTTO MARX A CO.
Hubbard Bros. & Co.
ttoa Merchants, Hanover Square, ».
i Alembers New York Cotton Ex
ange. New Orleans Cotton Exchange
iw York Produce Exchange, Associate
smbers Liverpool Cotton Aseoctatton
ders solicited for the purchase and
le of Cotton and cotton Seed Oil for
lure delivery. Special- attention and
eral terms given for odMlgnmenta of
'f cotton for delivery. Correspond -
w in Red.
Net Change for the Day
Was a Loss of 3 to 5
Points
New Orleans, October 7.—Rapid fluctua
tions both above and below the level of
yesterday's close featured the cotton mar
ket here today. Weather news was con
sidered unfavorable and caused good sup
port at times, but the liquidation from
the longside furnished heavy offerings
under which the market repeatedly
sagged. The net change for the day was
a loss of 3 to 5 points.
The market opened at the decline on ca
bles and lost 5 to 15 points around the
first call. Buying on a large scale met
this slump, and a rapid Recovery ensued
and finally a small net advance. Later
there was another fa'l, this time to a net
loss of 9 to 15 points, but around the
middle of the day the market displayed
strength on frost predictions. In the
early afternoon prices were at their high
est, a net rise of 13 to 15 points, but this
was quickly lost In a selling wave which
developed toward the close.
New Orleans Cotton Futures
High. Low. Close.
October ... 12.46 ~ 12.23”' 12.28
December . 12.72 12.43 12.56
.Tanuarly. 12.90 12.65 12.73
March . 13.16 12.92 12.98
May . 13.30 12.91 12.29
New Orleans Cotton
New Orleans, October 7.—Spot cotton
steady, unchanged. Sales on the spot.
1145; to arrive, 2370. Good ordinary, 9.99c
strict good ordinary, 10.55c; low middling,
11.18c; strict low middling, 11.63c; mid
dling, 12c; strict middling, 12.25c; good
middling, 32.67c; strict good middling,
12.94c. Receipts, 7494; stock, 166,666.
count rates: Short bills. 4%®4«i per cent;
three months, 4%@4% per cent.
Bank of England Statement
London, October 7.—The weekly statu
ment of the Bank of Kngland shows the
following changes:
Total reserve decreased, £836,000; circu
lation increased £76,000; bullion decreased
£759,098; other securities decreased £13,
048,000; other deposits increased £21,613,
000; public deposits decreased £34.841.000;
notes reserve decreased £827,000; govern
ment securities decreased £1000.
The proportion of the bank's reserve to
liability this week is 26.05 per cent; last
week It was 24.70 per cent. Rate of dis
countfl 5 per cent.
Bank of France Statement
Paris, October 7.—The weekly statement
of the Bank of France shows the follow
ing changes:
Gold in hand Increased 61.198,000 francs;
silver in hand decreased 622,000; notes in
circulation increased 203,787,000; treasury
deposits increased 6.070,000; general depos
its decreased 68,974,000; bills discounted de
creased 122,881,000; advances increased
4,299,000.
Live Stock Market
Kansas City, October 7.—Hogs: Re
ceipts, 7000; higher; bulk, $7.90©8.30,
heavy $7.80@8.20, light $7.90@8.30, pigs
$7.25© 8.
Cattle: Receipts. 5000; strong: prime
fed steers $9.65@10.25, dressed beet
steers $8@9.60, southern steers $5.60©
7.50, cows $4@6.75, heifers $6.25@9.50,
stockers $5.50@8, bulls $5@6, calves
?6 @ 10.
Sheep: Receipts, 6000; strong; lambs
$8.25@8.75, yearlings $6.25@7, wethers
$5.50©6.50, ewes $5.25@6.
St. Louis, October 7.—Hogs: Receipts,
11,200; higher: pigs and lights $6.50©
8.55, mixed and butchers $8.10©') 8.66,
good heavy $8©) 8.50.
Cattle: Receipts, 3700: steady; native
beef steers $7.50© 10.25, yearling steers
and heifers $8.50© 10.25, cows $6© 8,
stockers $6©7.75, Texas and Indian
steers $5.25@8.50, cows and heifers $4
@6.50, native calves $6 ©11.25.
Sheep: Receipts, 1400: strong; lambs
$8©9. sheep and ewes $5©7.75.
Chicago, October 7.—Hogs: Receipts.
15,000; bulk $7.50©8.85, light $7.50©
8.80, heavy $7.35@8.50, rough $7.36©
8.66. pigs $5.25©7.60.
Cattle: Receipts, 5000; steady; native
beef steers $6.25© 10.50, cows and heif
ers $3.20@8.60, calves $8@12.
Sheep: Receipts, 13,000; strong,
wethers $5.85© 6.65, ewes $8.70© 6,
lambs $7@9.25.
Coffee Market
New York, October 7.—The market for
coffee futures opened steady at an ad
vance of 3 to 6 points with .active months
selling about 3 to 8 points net higher dur
ing the midd’o of the day on some scat
tered covering following yesterday s late
reaction and In sympathy with#the gener
ally steady ruling of Brazil. The ad
vance carried March contracts up to 6.51c
and May to G.61c, but offerings increase*!
late in the afternoon on talk of a slightly
easier turn in the coat and freight situa
tion and the close was 4 to 7 points net
lower, although no actual sales were re
ported be’ow last night’s final figures.
Sales, 20,250; October. 6.20c; November,
6.22c; December. 6.25e; January, 6.29c; Feb
ruary. 6.34c; March, 6.38c; April, 6.43c;
May, 6.49c; June, 6.64c July, 6.69c; August.
6.64c; September, C.69o.
Spot steady; Rio 7*s, 7c; Santos 4’s. 9c.
Cost ttnd freight offers were reported here
from Santos ranging from 8.60c to 8.65c
for 4’s, while Rio 7’s were quoted at about
6.76c, the latter being American credits.
Rio exchange on London was 1.32J
lower. Meilreis prices were unchanged ;it
Rio and 100 reis higher at Santos. Santos
reported a clearance of 23,000 bags for
New Orleans. Brazilian port receipts,
85,000; Jundlafcy, 47,000.
Sugar Market
New York, October 7.—Raw sugar
firm: centrifugal, 3.7Sc; molasses. 3#
2.93c; refined quiet; sugar futures
opened firm and active today. At noon
prices were G to 10 points higher.
Metal Market
New York, October 7.—Copper steady;
electrolytic. |18.75#18.25; iron steady
and unchanged: metal exchange quotes
tin quiet, |S2@33; at London, spot cop
per, £72; futures. £73: electrolytic, £88;
spot tin, £149 10s futures, £150 15s;
antimony, £125. The metal exchange
quotes lead, 84.50; spelter not quoted;
at London, lead, £25 12s Gd; spelter,
£69.
Live Poultry
New York, October 7.—Live poultry,
steady; western chickens, 15#15Vfrc;
fowls, 15@16c; turkeys, 16® 18c; dressed
firmer; western frozen roasting chick
ens. 19®21c; fresh fowls, iced, 14#
17Vjc; turkeys, frozen, 17®21c.
Cotton Seed Oil
New York, October 7.—Cotton seed
oil was erratic as to price movements
today, with the trend of prices upward.
Opening values were higher on the
lard advance, but the list later eased
off under profit taking, only to again
rally and final quotations, while some
what below the highest, were 8 to 15
points above last night's finals. Oc
tober. 7.33c; December, 7.40c; January,
7.47c; March. 7.«*o; May. 7.83c.
Naval Store*
I Savannah, October 7.—Turpentine firm,
38c; sales, 273; receipts, 175; shipments,
none; stocks, 13.244. Rosin firm; sales, 381),
receipts, 90S; shipments, none; slocks, 6\
852. Quote: A. B. C, D. «3.82H#8.35; K,
l3.32VfrSS.35T F. 83.85#3.40: O, 23.40; H, 33.45;
I. *3.45: K, 13.90; M. 14.75; N, 34.90; WO,
15.80; WW, H
WEEKjSEXPECTED
Rising Tendency Noted in
Flour Market—Supplies
Up to Demand
With good weather in prospect for the
remainder of the week and throngs of
visitors in the city, merchants on Mor
ris avenue are enjoying good business,
and a week that started somewhat slow
is expected to make a whirlwind finish.
Prices remain stationary, but supplies in
all lines, except fish, are fully up to the
demand.
The local flour market is exhibiting a
rising tendency in the face of the gov
ernment report of yesterday, which shows
a record yield. Local dealers do not un
derstand why the market has not sagged
under the prospers of a heavy harvest
and some of them attribute the strength
of the market to conditions abroad. The
market here has remained practically sta
tionary for more than a month, and a
rise is said to be due soon.
Cotton remains steady, with no change
from yesterday morning’s quotations. The
market this week threatened for a day to
recede locally, due to too rapid market
ing of the crop. However, the market
has become stabilized, farmers holding
back their production, and the bulls have
complete charge.
Today’s quotations follow:
LOCAL QUOTATIONS
Poultry and Eggs
(Commission merchants price)
Hens—16c.
Fryers—20c.
Broilers—20c,
Guineas—30c.
Roosters—25® 30c.
Fresh country eggs, 21®23c; graded,
carton eggs, 27c.
Meats
(Packers' Selling Price)
Extra Ribs—9%c.
Bellies—10 He.
Butts—17c.
Pork Loins—18c.
Neck Bones—5c.
Breakfast Bacon—18®24c.
Spare Ribs—10c.
Regular Hams—16Ho.
Skinned Hams—16c.
Pure Lard—9Hc; compound, 8Hc.
Fish
(Wholesalers’ Selling Price)
Perch—8 He.
Salt Water Trout—12He.
Blue Catfish—7He.
Red Snapper—9He in bbl. and 10c in
smaller lots.
Gray Snapper—6c.
Mullet—5 H ® 6c.
Shrimp—10c.
Spanish Mackerel—15c.
Sheephead—8 H c.
Oysters—11.65 gallon.
Creamery Products
(Wholesalers’ Selling Price)
Creamery Butter—30e; process but
ter, 28c: oleomargarine, 14® 23c.
Full Cream Cheese—IfiVfcc; imported
Swiss, 35c; Pimento, dozen, $1.35.
Fruits and Produce
(Wholesalers’ Selling Price)
California Grapes—$2 box.
Lemons—$2.50 @3.50,
Oranges—$5®o. 50.
Bananas—$1.50®2 bunch.
Limes—$1®1.26 per 100.
New Apples—$1®1.25 per hamper.
Maiden Blush apples in barrels, $4.50.
Peanuts—5H®8Vic pe£ lb.
Home Grown Tomatoes—75c.
Irish Potatoes—75c per bu.
Virginia Potatoes—Cobblers In 11
peck barrels. $2.
Egg Plants—Alabama, $1.60 per
crate.
Northern Onions—Per lb., 2c.
New Cabbage—l%c lb.
Green Beans—% bu. baskets, 76® 90c.
Alabama Onions—$1®1.25 crate.
Florida f^quash—$2.50 hamper.
Home Grown Cucumbers—Per half
bushel basket, 25®50c.
London J.#ayer Basins—$1.75.
New Sweet Potatoes—$1.25 per hamper:
bbl., $2.50.
Figs—$1.50.
Celery—Crate, $4.50; dozen, 90c.
Lettuce—Dozen, 90c.
Malaga Grapes—$1.75.
Sugar
Granulated sugar, $6.25 per cwt., f. o. b.,
Birmingham.
Choice Rice—$5.60 per cwt.
Fancy Rice—$0.00 per cwt.
Extra Fancy—$0.50 per cwt.
Grits—$2.25 per 90-lb. bag.
Sugar is being sold by Birmingham re
tailers at from 12 to 15 pounds for $1.
Flour and Feedatuffs
(Wholesale Quotations.)
Self-rising flour, $6.40; Tennessee flour,
$6: Michigan flour, *7; Idaho flour, $6;
Indiana flour, $6.26; hard winter wheat
flour, $6.65; shorts. $33; pure wheat bran,
$29; C. S. meal, 784 per cent, $29; Cremo
meal, $26; C. S, hulls, $10 per ton; No. 1
timothy hay, $26 per ton; pea green al
falfa, western, $22; southern alfalfa, lit;
mixed feeds, per ton, $36; oats, per bushel,
No. 2 white, 61e; Texas oats, 63c; corn,
per bushel, $1.03; cornmeal, $1.95 per two
bushel sack; chops, $1.96.
Hides and Tallow
(Dealers' Buying Offer.)
Green Salt Hidee—13®16c.
Green Salt Hides (half cured)—14015c.
Green Hides (fresh)—13014c.
Dry Flint Hides—27®28c.
Dry Salt Hides—26016c.
Damaged Hfdes—Half price.
Sheep Skins—26060c.
Horse Hldes-$2©3.
Sherllngs—16025c.
Goat Skins—30@33c.
Kid Skins—10c.
Tallow—606c.
Beeswax—26027c.
Washed \Voc6—35038c.
Clear Unwashed Wool—25023c.
Burry Wool—17020c.
Ginseng, wild—$500,
Spot Cotton
Strict good middling . 1274
Good middling . 12^
Strict middling . 12i(,
Middling . 11^
The Iron Market
IP .$12.00012.30
2F . 11.50012.00
3F . 11.00011.50
Gray Forge . 10.50011.00
38 . 12.00012.50
28 . 11.50012,00
C. F. Avery
Member
New Orleans Cotton
Exchange
Orders executed on any exchange
subject to the Alabama statutes and
"United States Cotton Futures Act.”
Investment securities, grain and
provisions. Private wire connections.
£ CUr**Oo.New Orleans
E- F. Hutton * Co.New York
King Farnunr* Co.Chicago
Phone Main MT. Ml WMmri Mr
BEARISH INFLUENCE
IN WHEATMARKET
Accurate Forecasts of Gov
ernment Had a Decided
Effect on Prices
Chicago, October 7.—Accurate forecast*
that the government estimate of th|
spring crop would be decidedly larger
than a month ago had a nearlsh influence
today on the price of wheat. As a re
sult, the market was on the downgrade
most of the session, and closed unset
tled, %01%c net lower, with December
at $1.06 and May at $1.06%. Corn finished
unchanged to %c higher; oats up %0%c
and provisions varying from 2%e decline
to a rise of 32%c.
Wheat speculators appeared at first to
have overlooked the prospect that the
Washington report would not take into
consideration the damage done to the
spring crop this week, and that $*ie esti
mate of the yield would therefore almost
certainly be more flattering than the
tiade might otherwise expect. A renewal
of yesterday’s buying rush took place as
soon as the market opened, but the con
sequent upturn in prices led quickly to a
general selling movement and to a sharp
reaction that lasted through the rest of*
the day. In this connection, ieports were
current that farmers in the northwest
and in Kansas were letting go of stored
wheat very freely us compared with what
has recently been the case.
Although evening up of trades to pre
pare for the expected bearish showing of
the government report was mainly respon
sible for the depression of wheat, the mar
ket was also affected by assertions that
foieigners and exporters were reselling
at Winnipeg. Besides, cables were gener
ally reported as disappointing to holders
on this side of the Atlantic.
Corn developed strength owing to the
outlook for freezing weather. Teh down
turn in wheat, though, tended to induce
liberal sales to take profits. Am a rule,
guesses on the Washington report as to
corn went wrong.
Oats acted in sympathy with corn. Rural
oflerirgs were scarce.
Ilogs, with prices at the highest point
in more than a year, mude the provision
market score again. Selling by packers
afterward caused a slight setback for
lard.
Future quotations were as follows:
W h cat— ~ b pern High. Low. Close"
Dec . 1.06% L0?% l704% L05%
May .-1.08% 1.10% 1.06% 1.06%
Corn—
Dec . 67 68% 67 57%
May . 58% 50% 58% 58%
Oats—•
Dec . 37% 37% 37 37
May . 39% 39% 39% 39%
Pork
Dec .14.50 14.75 1 4.40 1 4.65
Jan . 17.40 17.60 17.22 17.30
Lard—
Nov . 9.25 9.25 9.15 9.15
Jan . 9.40 9.40 9.3,0 9.30
Ribs—
Oct . 9.20 9.27 9.17 9.27
Jan . 9.42 9.45 9.37 9.40
Produce Market
New York, October 7.—Butter: Receipts.
7631; firm; creamery extras, 92 score, 29c;
creamery, higher scoring, 29%09Oo; firsts.
26%®28%c. Egg*, steady; receipts, 11,940.
Fresh gathered, extras, 85098c; extra
firsts, 33034c; firsts. 28082c; seconds, 23%0
27c. Cheese, steady; receipts. 672. .State
whole milk, fresh flats, white specials,
15c. State whole milk, colored, 15@15%c;
white and colored average fancy, 14%0)
14%c.
Chicago, October 7.—Butter unchanged.
Eggs, unchanged; receipts, 2168 eases. Po
tatoes higher: receipts, 36 cars. Michigan
and Wisconsin whites, 56068c; Minnesota
white. 5S@60c; Minnesota and Ohios, 3S
060c. Poultry, live lower; fowls, 13c;
springs, 13%c.
St. Louis. October 7.—Poultry unchanged
except springs, 12%c. Butter and eggs un
changed.
Kansas City, October 7.—Butter, eggs
and poultry unchanged.
St. Louis Grain
St. Louis, October 7.—Wheat. No. 2 red.
$1.1901.21; No. 2 hard nominal; December,
$1.0601.06%; May. $1.0601.06%. Com, No. 2
hard. 6O%061c; No. 2 white, 6O%0)61%c;
December, 54%©-54%; May, 61%. Oats, No.
2. 35c; No. 2 white nominal; December,
35%o; May. 37%c.
Kansas City Grain
Kansas Cits’. October 7.—Wheat, No. 2
hard. tl.Utjl.14: No. 2 red. $1.15®d.l8.
Corn, No. 2 mixed, 67@68c; No. 2 white.
58c; No. 2 yellow, 58c. Oats, No. 2 white,
3o@B0c; No. 2 mixed. 34<g34Uc.
Chicago Grain
Chicago. October 7.—Wheat, No. 2 red
nominal; No. 3 red, tl.12ttl.13U; No. 2
hard, $1.12; No. 3 hard. tl.l0®l.U. Corn,
No. 2 yellow. 64®64u.c; No. 4 white, 62U?j)
63c. Oak. No. 3 white, 34U®'38Uc; stand
ard, 38U®39c. Rye. No. 2, 96H'-. Barles.
62®«2c. Timothy, $5@7.50. Clover. $9©13.
Pork, $14.42. Lard, 9.56. Ribs, $9.20@9.80.
Rice Market
New Orleans, October 7.—Rice continued
steady today. Receipts, rough, 2136; e'ean,
500; millers. 2138. gales, 839 sacks rough
Honduras at 2.40@3.60c; 1191 sacks Japan
at 3.25(?t3.72c; 409 pockefk clean Honduras
at 2»4'8'4 7-16c. Quote: Rough Honduras.
2.26713.50c; Japan. 2.76@3.72c; others un
changed.
MUCH LESS ACTIVE
Early Decline Followed by
Sharp Rally, But Eases
Off and Closes at Loss
New' York, October 7.—An early decline
in the cotton market today was followed
by a sharp rally on apprehension of dam
aging temperatures In the western belt,
but after selling up from 12.74c to 13c for
January, the market again eased off with
that delivery dosing at 12.81c. while tho
general list was finally steady at a net
loas of from 8 to 11 points.
The market was nervous and unsettled
from the start, with general business
less active. Cables were lower than due
while the weather map failed to show the
frosts that some had expected In the
belt last night and after opening steady
at a decline of 3 points to an advance of
1 point, tho market sold about 1.7 to 18
points under last night's closing figures.
Liverpool was a considerable seller on
this decline, which carried December con
tracts off to 12.67c and March to 13.02c.
Notwithstanding tho firm ruling of the
stock market, there was also quite a
good deal of Wall street liquidation, hut
after the close of Liverpool offerings were
less active end the market steadied on
a scattering demand, which seemed to
include some rebuying of recent sellers
for long account. Following the publica
tion of the western belt forecast, which
called for colder weather, with frosts or
oven freezing temperatures In various sec
tions. this damage became decidedly more
active and there was a sharp bulge in
prices which carried December contracts
up to 12.84c and March to 13.2Gc, but tho
buying was not as aggressive or ns gen
eral as It had been 'earlier In the week,
while rcaJillng was again encountered
around 13 cents for January and prices
eased off sonco 18 to 20 points from the
best In the late trading. A private cable
reporting that a Liverpool statistician
estimated tho world's consumption of
American cotton for tho season at 12.600,
OfO ba'cs seemed partly responsible for
the early decline.
- y
_New York Cotton Futures
__ High. Low. Close.
October . TaTBO TOo i2.:i3
December . 12.84 12.57 12.B4
January . 13. oil 12.74 12.si
March . 13.25 13.02 13.07
May . 13.43 -33,33 13.36
* "
Port Cotton Market
New Orleans; Middling, 13c; receipts.
7394; sales, 3515; stock. 166.666.
Galveston; Receipts, 9230; exports 12
194; stock, 220,745.
Mobile; Middling. 12.06c; receipts, 516;
sales, 60; stock, 13,973.
Savannah: Middling. 12c; receipts. 6791;
sales, 2628; stock, 1S0.262.
Charleston: Middling. 12c; receipts, 2494;
stock, 82,401.
Wilmington: Receipts. 1997; stock, 43,028.
Texas City: Stock. 35,913.
Norfolk: Middling. 12.13c; receipts, 2713
sales, 1139: stock. 41,907.
Baltimore: Middling, 12c; stock, 5442.
Boston: Middling. 12.45c; stock. 17,441.
Philadelphia: Middling, 12.80c; stock, 1725.
New York: Middling, 12.65c; exports.
4125. stock, 275,916.
Minor ports: Receipts. 8854; exports, 8854:
etock, 10,208.
Total today: Receipts, 39,989; exports.
25.174; sales. 7332; stock, 1,077,675.
Total for week: Receipts, 246,235; ex
perts, 110 201.
Total for season: Receipts, 1,2271,908;
exports, 750,450.
Interior Cotton Market
Houston: Middling, 12.35c; receipts, 9503;
shipments, 5168; sales. 2861; stock, 138,776.
Memphis: Middling, 12.25c; receipts,
4;79; shipments, 1629; sales, 1600; stock,
75,958.
| Augusta: Middling, 12.06c; receipts. 4059;
[Shipments, 1491: sales. 1388; stock, 132,417.
; St. Louis: Middling, 12**c; receipts, 316;
| shi^nents, 533; sales, 24; stock, 7614.
Cincinnati: Receipts, 883; shipments, 584:
(stock. 10.941.
| Little Rock: Middling. 12.50c; receipts,
538: shipments, 662; stock, 10.229.
Total today: Receipts. 20.078; shipments,
112.957; sales. 5873; stock, 375,835.
Dry Goods Market
New York. October It—Cotton goods to
day were firm. Yarns were firm and
trade active. Raw silk was active at top
prices. Wool stocks are low, it is stated
| in the trade and the mills are busy.
Avery’s Cotton Letter
Birmingham. October 7.—(Special?)—It
was a two-sided cotton market again to
day. Bears had their inning early’ on
a poor Liverpool and the bulls had theirs
on a forecast for colder weather with
predictions of frost. Between the two. it
was like the King of France, who
"marched 10.000 men up the hill and
marched them right down again.”
A two-sided market is always a healthy
one. When a market gets into a condition
where one set of bulls have to sell out
to another It always gets top heavy with
the result that sharp breaks are always
Imminent.
The middle man In spots is terribly pes
simistic because he cannot sell dny cotton
to the spinners. The spinner is bolding
off, hoping for a break so that he ran
force the middle man to sell him cotton
at cheaper prices. Meantime he has pro
tected himself from funner advance bv
- _GOLD COUPON
a| WATER SET COUPONls
2 ageT-hekald £
D Finest thin Tin'“rd 7
■> blown plus 8j4 inches high L
_ beautifully Six Glines _
decorated ,
C in Venetian hslf-pwts v
Gold. I
DpFREE—i v
Year Iniriil ties A
— in Venidin Gold mm
on each piece If
E Lss V
F V
g ROW TO GET IT
- 7 'ST for STtET? 98c.
H 6 for °“*T“ 59c.\ T
“ , MAIL ORDERS WILL ADD FOR POSTAGEi i “
i i'-msam'* s
mm fiF grtsttr dutmmttt ill ferfaiifw mmm
. CROSS OUT WITH AN “X” INITIAL DESIRED „
J KILIM | N I 0 I P I g~~l"
Every render of THE BIRMINGHAM AGE-HERALD Is entitled to a
set Present or mall coupons to the following well known drug
■tores, which have consented to distribute the sets without profit
to themselves: 0
AVERYT DRUG COMPANY STORES, 109-111 N. 20th street. Bir
mingham; 1901 Avenue E, Enaley; 114 Id street. Pratt City.
buying futures. Thla condlti u of affairs
has brought about something n dead
lock between the two; meanwhile the
farmer has it within his power to fore*
the spinner to buy by marketing his cot
ton slowly. 'He should do this out of
consideration not only for himself, in or
der to Insure good prices for the rem
nants of his crop, hut tor the spinner,
who lias paid him full prices on the way
up. and who at the present time Is bear
ing the gulden of the tight with the spin
ner.
News .from the interior indicated there
was no weakening on the part of holders,
and tlie only f>ieee of bear news of the i
day that received any consideration was
the estimate of a 12,600.000-bale consump
tion figure by Mr. Ellison of Liverpool.
These figures are absolutely silly. There,
wo^o 14,600.000 bales of American cotton
consummed the past year in fact the
greatest war the world has ever seen,
demoralised shipping, higher freight rates;
in feet, every possible thing was a^uinst
anytlYng like a normal consumption.
These figures, however, were straws at
which the drowning bears eagerly
clutched. If they can sit down in sober
thought and look at the statistics of the
consumption so far tills year and get any
satisfaction out of their cogitations they
are welcome to what comfort they find.
These prices will look cheap a month
hence.
Hubbard Bros. & Co.’s Letter
New York, October 7. (Special.)—The
market today ruled quieter with & small
net decline at the close, but with no
decided tendency. 4
Liverpool was adversely affected by the
Balkan situation which opens up new anx
ieties over a situation which appears to
he private fortunes agaist the desires of
the nations. An English estimate of the
cor sumption of American cotton of 12.
600,000 bales also had an adverse influence.
On tlie other hand the weather prom
ises to be bad from another gulf storm,
while the forecasts of a heavy frost
at one time advanced the market alVmt
above the close of last evening. Alto
gether the market was one of quick flue
u.'tiona and small Transactions, with
the local sentiment bullish, thongs there
was some discussion as to whether tn©
south would sell a large portion of their
crop around 12c.
State Board to Take
Over Clifton Mines
Tucson, Aria., October 7.—A resolu
tion calling on the state board of con
trol to seize the mines and smelters at
Clifton, where 8000 miners are on
strike for recognition of the union
and a higher scale, ami operate them
under the industrial peace act adopt
ed by the initiative at the last election, j
was passed today by delegates to the
Arizona Federation of Labor holding
its convention here.
Resolutions against the national de
fense movement and to the loan to the
allies were passed.
Easy Enough to Explain
From the Chicago News.
“The only thing T can find to say
against you. .lane.” said her mistress,
“Is lhat your washing idil is far too
much. Last week, you had six waists 1
in the wash. Why. my own daughter
never needs more than three."
Jane—Ah, that may be, mum, hut 1
have to. Your daughter's sweetheart
is a bank clerk, while my young man
is a chimney sweep. It makes a dif
ference, mum.
MEN SHOW INTEREST
IN NEW WATER SETS
_
Enthusiasm for Remarkable House
hold Offer Not Confined to
Women
Extraordinary interest has been dis
played in he uhehold affairs by mm of
latj^-lt shouldn't lie celled extraordinary,
however, because It Is believed lhat men
take a great deal more interest in the
purchase of home things than they aro
Uiven credit for.
A very larye number of the readers of
thla paper who have secured the Vene
tian Oold-trlmmed and Initialed water
sets now being distributed, have been
men They show as much appreciation
of the beauties and quality of the ware
as the ladles express.
The distribution of these sets has been
rapid and attended with much enthusi
asm. Another shipment had to be secured
to supply this week's (treat demand
Nearly every family that secures a set
with pitcher, save extra coupons to ob
tain more of the handsome tumblers.
How to secure this set Is fully ex
plained in the Water Het Coupon appear
ing In The Age-Herald dally and In the
display announcements.
■ ' 1
BIRMINGHAM. ENSLEY
& BESSEMER RAIL
ROAD COMPANY
Reorganization
To depositors under the bondholders'
protective agreement In the above mat
ter, dated September 15, 1914:
Notice is hereby given that the un
dersigned committee constituted by
and acting under a certain boldhold
ers' protective agreement dated the
15th day of September, 1914. between
Charles H. Zehnder and others, as a
committee, and such holders of first
mortgage 5 per cent 30-year gold bonds
of Birmingham, Ensley and Bessemer
Bailroad company as berame parties
thereto, have filed with Etnpiro Trust
company, ns depositary, a plan and
agreement for the reorganization of
said Birmingham, Ensley and Besse
mer Railroad company. Copies of said
plan and agreement may bo procured
by depositors from said depositary.
Notice is further given* that, pur
suant to the terms of said protective
agreement, the committee has fixed
the 26th day of October. 1915, as the
date on or before which depositors
not assenting to said plan and agree
ment of reorganization may. subject
to the terms of said protective agree
ment, withdraw their bonds. Depos
itors not withdrawing their honds on
or before suld date shall be bound by
salt! plan and agreement, as provided
in said protective agreement.
Dated, New York. September 15. 1919.
CHARLES H. ZEHNDER,
D. V SHERMAN.
SAMUEL B V ROOM AN,
J D. KIRKPATRICK.
Committee.
Empire Trust company, Depositary,
120 Broadway, New York city.
y-2S-2S-10-1-5-8
| KINKY HAIR
Attest*. 0».
Efttteato M#AI«ln#
Co., (1*ntl«m*n: 1
Mm •cndknf yoa my
ptetur# toahow you
wh*» TOUT_
exeunto
GUlWIItl
POMADE
baa Aon# for my
hair. Ilbta frown
to M inoh«# Ion|
and vary thick hair:
It lasoftand allky,
and can now B*
up my hair thawap
1 want to.Itlaear
taint?tha baat hair
■ rowar In tha wor M
ttalao kaapa tha
aealp ##ry ela#a.
CE1.IA UEEEN.
Don't lot lomo fake Kink Remover fool
you. You really can't Straighten your hair
until lt’» nice end long. That'* what
EXELENTO QUININE POMADE
does, removes Dandruff, feeds the Roots
of the Heir, and makes it grow long, soft
snd silky. After using It ■ few times you
can tall tha difference, and after a little
while it will bo so pretty and long that you
can Hz It up any way you want to.
If Exelento don’t do as we claim, wa will
give you your money back. Try a box. 2&0
by mail on roceiot of stampe or com.
, Price 25c at all drug
stores in Birmingham,
t— ■—1
Bat. lflTO Same Manner
Wheeler Hotel
Eutaw, Ala.
r.IrctrlM Light and Call Bell In Every
Itoom.W l.ucal nnd l.onii Dlatonca
Telephone. Artesian Water,
Vo-—J
I & PRINTING S
B’ham Publishing Co.
Jne. C. Hanley, Jr. 170B 3d Ave.
»
w.