The Birmingham age-herald. [volume], September 10, 1920, Page TWELVE, Image 12

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

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

                
INVESTMENT STOCK
m AN IMPORTANT
FACTOR YESTERDAY
Money on Call Was Offered at
Seven Per Cent Later Re
laxing to Six
By Associated Prew
Xpw York, September 9.-—The invest
pmcnt situation was a factor of para
jmount importance in the stock mar
Ikct today, taking precedence over
taasier money conditions and the more
promising crop outlook following an
nouncement of the successful offer
ing of the new French loan, which
waoversubscribed before the open
ing books,, was accepted by the finan
cial community as an indication that
investors are eng* r to participate in
attractive underwritings.
The only noteworthy drawback was
again furnished by foreign exchange,
which continued, for the most part, to
move against Kuropean markets.
Speculative selling of British and Ita
lian bill* was attributed to the tense
industrial situation prevailing in those
cou n tries.
Out-of-town banks contributed to
the enlarged supply of money on call,
most oft whirl was offered at seven
per cent, but relaxed to six per cent
later. Short term loans in moderate
sums were negotiated at 8Mt per cent
for prime collateral.
Shippings, oils, dividend-paying rails
and chemicals Jed the day's higher
range of prici maximum quotations
being registered in the final half.
United Fruit mse almost five points.
Marked strength was shown by
Mexican end l'an - American Petroleums,
Royal Dutch, Union and Southern
Pacific, Delaware. Lackawanna and
i Western ami National Aniline. Steels
and equipments were limited to gains
of large fractions to almost two points,
closing quotations, in many instances
•being the highest of the day.
' Liberty bond.-; were irregular, but
some of the internationals were
stimulated by the success of the n^w
French l.sem . whieh rose a fraction
over par on th< curb. Sales, par value,
aggregated $s.Sf>0,000.
< »ld United States were unchangei
k>n call.
New York Stocks
By Associated Press
Sales. High. Ix>w.
1800 82 80%
. 300 35 % 35
. 400 12
98%
83%
54
84
92%
133%
72%
74%
95
68 %
111 ^
94%
98%
81
1 200
1SOO
600
100
2000 136
13400 110
4 200 41%
7400 77
900 121% 119%
51 %
87
83%
92%
132%
108 %
41
1000 140% 140%
3300 21 % 20 %
77% 76%
32 32
54 Vi
88%
47%
57
|/mer. Beet S..
Amer. Can . . .
Umer. C. & 1\
IArner. H. <fc L.,
Pfd. 300 72%
'Airier. Inter. (*. 20400 79
lAmer. Loco. 300 96
!Amer. Linseed . 1500 69%
Amer. S. it li.. 1500 60%
Amer. Sugar .. 500 112>
Amer. S. Tob... 300 95%
Amer. 7'. & 7'..
Amer. Woolen..
Anaconda Cop.. .
Atchison .
Atl. Coast Line
Atl., G. & W. 1..
:Bald. Loco.. .
Balto. <t Ohio..
Beth. Steel “B ’
Canadian Pac.
Central Leather 500 51% 50%
Ohand. Motors.. 200 87 86%
Chesa. it Ohio.. 1000 60% 59%
Chi.. M. it St. P. 2200 37 ~ 36%
Chi.. K. J. it P. 3800 26% 36%
Chino Copper... 100 29 29
Col. F .t I... 100 35% 35%
Corn Products 7900 89% 87
Cuba Cane S.. 2500 39 37
Erie . 2400 15% 15%
Gen. Electric
ex-div. . . .
Gen. Motors
Great Nor., pfd 1200
Great Nor. O. C. 2
Gulf States S.. 1000
Illinois Central 100 88%
Inspir. Copper.. 100 47
Inter. Mer. Ma.
pfd . 600 76
Inter. Nickel .. 2400 1 9%
Inter. Paper . .
Kenne. Copper.
Louis Nash..
Mex Petrof....
Miami Copper
Middle States O. 7200
Midvale Steel... 400
Missouri Pac... 600
N. Y. Central.. 3000
Nor it* Western 100
Nor. Pacific. . . . 700
Pure Oil .
Okla. P. it R.
, Pan-Amer. P.
Pennsylvania .
I Fitts, it W Va
i Ray Con. Copper 600
Reading .
Rep. Iron it S
Royal Dutch,
X. Y.
Seaboard Air L
do pfd . 400
Shell T. & TV. 3100
,Sine Oil it R.. 13600 313
Slos -Sheff. Steel /
«t Iron ........ 14
Southern Ry... 2700
do pfd - 400 60%
Standard Oil of
X. .1 . pfd ... 1300 105% 104%
iStude. C'orp...*,. 5300 62%
•Tenn. Copper... 600 10
| Texas Co. 14300 57
{Texas it Co... 500 37%
Tob. Products.. 600 64 %
Transc. Oil.... 10500 14%
Union Pacific.. 3200 121 % 12076
United Fruit .. 6600 209% 199%
XJ. S. Food P.\ 300 60
U. S. Ind. Aleo... 600 83%
V. S. Retail S.. 3400 68%
U. S. Rubber_ 300 8t.%
U. S. Steel ... 1C800 S9%
80
26
300
. 100
. 100 102 %
9100 163
700 19%
13%
3!!>
2 6 %
74%
91%
79%
39 Va
4 Vs
91%
42 7a
29%
16 %
5500 92%
1900 83%
5400 91 > a,
. 500 8%
16%
5200
5600
2200
. 600
71%
28
747a
1 9 %
79%
25 7a
102 76
162%
19%
13
39%
26 Vi
74
94%
78
39%
4
88%
42%
29%
16
91%
82%
88
8%
16
54
30%
70%
27 76
59%
61%
9%
48%
37
63%
13 Vi
59%
82%
67
85%
88%
300 106% 106%
do pfd .
Utah Copper....
jVa.-Caro. Oh cm..
{West. Union ..
iWestineh. Elec.
UWiflys-Overland 2400 15%
1 Total sales, 450,600.
100 64
300 69
300 48%
63%
68%
48%
15%
New York Bonds
By Associated Press
U. F. 2s. ret istered ...
ITT. R. 2s, coupon .
17. S. 4s, registered ..
U. S. 4s, coupon ..
Panama 3s, registered ..
Panama 3s. coupon .
'American Smelting & Refining 5s
Close
81%
35
135
72%
79
96
69%
59%
112
95%
98 76
83%
53
54
92%
136
109%
41 Vs
77
121
51 %
87
59 %
37
36%
29
35%
89%
38 7a
15 Va
140%
21 74
77%
32
57
88%
48
76
19%
80
26
102 76
162%
19%
13%
39%
26%
7 4%
94%
79%
39%
4%
91%
4276
29 %
1 6 Vi
92 Vi
83%
90%
8%
16
55%
31%
71%
28
60%
105%
62%
10
51
37%
63%
14
121%
209%
60
83%
67%
86%
89%
106%
64
69
84%
48%
15%
101
101
105
105
77
77
73%
f
MONEY
TO LOAN
We now haw at our
disposal funds to loan
on Birmingham busi
ness and residential
property. Reasonable
rates with
Inquiries Invited
Marx and Co.
DXVKEHS
American Tel. & Tel. cv. 6s ... 94 %
Anglo-French 5s . 99%
Atchison gen. 4s . 75
Atlantic Coast Line 1st 4» . 74%
Baltimore & Ohio cv. 4%s . 6$
Bethlehein Steel ref. 5s . 78
Central of Georgia con. 5s ... 80Vs
Central Leather os . 90
Chesapeake & Ohio cv. 5s ... 80%
Chicago, B. & Quincy joint 4s ... 95%
Chicago, Mil. & St. P. cv. 4%s 70%
Chicago, R. I. & Pac. Ry. ref. 4s 67%
City of Paris 6s . 93 %
Colorado & Southern ref. 4%s... 72
Denver & Rio Grande con. 4s.. 65%
Dominion of Canada 5s (1931)... 85%
Erie gen. 4s . 45%
Illinois Central ref. 4s, bid. 73
Inter. Mer. Marine 6s . 81%
Kansas City Southern ref. 5s ... 68%
Liggett & Myers 5s, bid. 80
Louis. & Nash. un. 4s .... 77 %
Mo., Kan. & Texas 1st 4s . 57
Mo., Pacific gen. 4s . 56%
New York Central deb. 6s . 91
Norfolk & Western cv. 6s . 101
Northern Pacific 4s . 75%
Pennsylvania gen. 5s . 86
Reading gen. 4s, bid . 80%
Republics Iron & Steel «6s (1940) 86%
St. Louis & San Fran. adj. 6« ... 65
Seaboard Air Line adj. 5s . 38%
Southern Bell Telephone 5s. 80%
Southern Pacific 5s . 98%
Southern Railway 5s . 84%
Southern Railway gen. 4s . 59%
Texas & Pacific 1st, bid. 81%
Union Pacific 4.s . 80%
United Kingdom of G B. &
I. 5%s (1937) .*. 82%
U. S. Steel 5s . 92
Virginla-Caro. Chemical 5s, bid.. 91%
Y7abash 1st, bid . 86%
Wilson & Co. cv. 6s . 83%
Liberty Bonds
By Associated Press
New York, September 9.—Liberty
bonds closed:
3%s . 90.50
First 4s. 86.20
Second 4s... 84.70
First 4 %s . 85.72
Second 4%s.88.02
Third 4%s . 88.56
Fourth 4 % s .. .. 85.22
z Victory 3%s . 95.40
Victory 4 % s . 95.38
Money Market
By Associated Press
New York, September 9.—Prime mer
cantile paper, 8 per cent. Exchange
weak; sterling 60-day bills, 3.47%; com
mercial 60-day bills on banks, 3.47%; com
mercial 60-day1 bills, 3.47%: demand,
3.52%; cables, 3.53. Francs, demand, 6.74;
cables, 6.76. Belgian francs, demand,
7.18; cables, 7.20. Guilders, demand,
31.37; cables. 31.50. Lire, demand, 4.32;
cables, 4.34. Marks, demand, 1.89; cables.
1.90. New York exchange on Montreal, ;
3% per cent discount. Government bonds
steady; railroad bonds irregular. Time
loans strong: 60 days, 90 days and six
months, 8%(5$% per cent. Call money
steady: ruling rate, 7 per cent. Bank ,
acceptances, %% per cent.
Rank of England
By Associated Press
London, September 9.—The weekly
statement of the Bank of England shows
the following changes:
Total reserve, increased £519.000; circu
lation, decrease £624,000; bullion, decrease
£4,316; other securities, increase £$74,000;
Public deposits, increase £67,000; other
deposits, increase £3,649,000; notes re
served. increase £627,000; government se
curities, increased £2,220,000. The pro
portion of the bank’s reserve to liability
i3 11.70 per cent; last week it was 11.56.
Rate of discount, 7 per cent.
London Money
By Associated Press
London, September 9.—Bar silver, 58%d
per ounce; money, 5*4 per cent; discount
ratep, short bills, G?i@613-16 per cent.
Three-months’ bills, 634@613-16 per cent.
Bank of Germany
By Associated Press
Berlin, September 8.—The state of the
Imperial Bank of Germany, as of August
51, shows the following changes: In
creases: Treasury certificates, 611,740,000
marks; bills discounted, 4,997,950,000
marks; advances, 3,164,000 marks; securi
ties, 265,860,000 marks; circulation, 1,747,
172.000 marks;; deposits, 3,721,571,000 marks;
Liabilities, CS4,322,000 marks. Decreases:
Coin, 639,000 marks; gold, 6,000 marks;
lotes, 235,000 marks; investments, 23,291,
W) marks. The total gold holdings were
1.091.586.000 marks.
Louisville Live Stock
By Associated Press
Louisville, September 9.—Cattle: Re
ceipts, SCH): slow.
Heavy steers .$12.00@13.50
Beef steers . 7.00@11.00
Heifers . [e-mail]
Cows . 4.00@10.i/J
Feeders and Stockers. 5.50@19.50
Hogs: Receipts, 1,500; active and un
?hanged.
Pigs .*10.00@11.5O
Throw outs . 1^.25
Sheep: Receipts, 500; steady.
Sheep . 6*°
East St. Louis Live Stock
By Associated Press
East St. Louis, September 9—Cattle:
Receipts, 2.500; stee.rs steady.
rop steers ..I 15.75
Bulk.. 9.50@11.<W
fanners steady at. 3.50
flood and choice vealers.16.75@17.50
Feeder steers, bulk. 8.60© 9.25
Hogs: Receipts. 4.500.
Top .»
Bulk light and medium.15.00@16.75
Bulk heavy .1.15.75@16.30
Sheep: Receipts, 600; lambs 25c higher;
iheep steady.
rop lambs .—.-.2 13.25
Bulk [e-mail]
rop ewes . 6.50
Bulk ... 6.50© 6.50
Chicago Live Stock
Chicago, September 9.—Cattle: Re
ceipts, 12,000; all desirable beet cattle
strong to 25c higher; others steady to
strong: many sales at *18.
Top bulk and choice.*16.00017.85
Fat grassy kinds strong.1*.50@15.50
others steady . 9.00012.00
Calves . 6.600.12.75
Canners strong .—. 4.00© 4.75
Bolognas largely . 6.00© 6.S5
Choice veal calves steady.17.00@17.75
Rtockers and feeders 25c higher; west
»m cattle scarce; market steady vto
strong.
Hogs: Receipts. 19,000; mostly 25c to
Be higher than yesterday's average,
-losing strong.
rop .
Bulk light and butchers..
Bulk sows .
Pigs, most desirable kinds
Sheep: Receipts, 29,000
.5 16.50
. 15.50@14.40
.14.20@ll.60
.14.50015.50
steady to 25c
lower; killing grades mostly 25c down;
10 choice lambs here.
rop westerns . H"*
rop natives . 1306
flood and choice fat ewes
largely . 6.50© 6.S5
Bulk' feeding lambs. 13.OQ@13.50
rop
13.65
Cotton Seed Oil
By Associated Press
New York, September 9 —Active eover
ng. prompted by the strength of the
ard market, lifted cotton seed oil prices
> to 30 points early in the seeston. but
hey reacted after mid-day after a r®4
sumption of hedge selling and a lack of
rade demand. Final bids were un
hanged to 11 points net higher. Sales,
1.200; tenders. 500. Prime crude, nomi
lal; prime summer yellow spot. J13@13.50;
September. *13.11: October, *13.27; Decem
>er. *13.32; January. *13.34; March, *13.39.
Snear Market
By Associated I*ro»«
New York, September 9—There was no
ihange in the position of raw sugars to
lay. A further sale of Perus. ex-store,
vas made at 9M.-C c.i.f.. equivalent to
0.7Sc for centrifugal.^wduty paid. Some
»orto Ricos were offered to refiners at
[>.78c c.i.f., but were not taken, and out
ide of a little more export inquiry, the
narket remains in a featureless oondi
ion. % I
Refined sugar was quiet and unchanged i
t 15c to 17.10c for fine granulated by |
he leading refiners A Philadelphia re- i
inery reduced its list price to 15c, less
per cent, but demand is being still I
upplied with second-hand sugar at
, WHEAT GOES UP WITH
A RUSH ON NEWS OF
REDUCTION IN 1920
By Associated Press
Chicago, September 9—Wheat prices
^ent up with the rush today owing to
reduction of the government’s estimate of
the 1920 spring crop. The advance, how
ever, was not well maintained and the
| market closed unsettled, 1% to 2% net j
higher, with March, $2.43=54- Com finished
! at 1% to 2% cents down. Oats unchanged, |
J to % cent higher, and provisions at a rise
i of 10 to 40 cents.
At first there was heavy buying of fu
ture deliveries of wheat, most of the de
mand coming from houses with seaboard
connections. After the upturn in values
had recahed the highest level for some
time past, the market began to act tired.
Then came advices that foreign demand
at the seaboard was? poor and that much
export business was unlikely unless a
sharp rally in European exchange rates
took place. Bulls were also handicapped
by pressure from cash interests on all
the hard spots in the late dealings, not
withstanding that country offerings re
mained light.
Com advanced sharply at one time
with wheat, but averaged lower, influ
erced mainly by the record breaking fig
ures in the government report as to corn.
Oats were firm, being regarded as low
compared with other feed.
Export business, together with higher
quotations on hogs, lifted provisions.
Chicago Future*
By Associated Press
Chicago. September 9.—Future quo
tations were as follows:
Wheat— Open. High. How. Clos#.
Dec.2.46 2.49 2.46 2.47
Mar.2.42% 2.46 2.42% 2.43%
Corn—
Sept.1.41 1.43% 1.40% 1.40%
Dec.1.22% 1.23 1.20% 1.20%
Oats—
Sept. _ 64% 66 64 64%
Dec. 65% 67 65% 66%
Pork
Sept. . 23.25
Oct. 23.75 23.50 23.75
Lard—■
Sept. 19.20 19.10 19.20
Oct _19.25 19.40 19.25 19.35
Ribs—
Sept. 16.25 16.10 16.25
Oct. 16.35 16.47 16.35 16.45
Potatoes
By Associated Press
Chicago, September 9.—Potatoes firm;
receipts, 35 cars; Jersey cobblers, $2 85®
2.95.
Rice Market
New Orleans. September 9.—Rough
rice, no sales; receipts, 20,350 sacks;
millers’ receipts, 2,876; clean rice
steady, sales, Honduras, 2,271 pockets
at 2%c: Carolina, 245 pockets at 314c;
Edith, l.OOp pockets at 8V4@9Vtc. Bran
and polish'unchanged; receipts. 690.
Produce
Chicago, September 9.—Butter weak;
creamery, 44fa56o.
Eggs unchanged.
Poultry, alive, lower; fowls, general
run, 28c; springs, 35c; turkeys, 45c.
New York. September 9.—Butter strong;
creamery firsts, 52@57%c.
Eggs firm; fresh gathered firsts, 55(®57c.
Cheese firm; average run, 27<®28c.
Dive poultry irregular; broilers, by ex
press. 37<8>40c; fowls, 35&40c; dressed poul
try steady; western broilers, fresh, 41@>
61c; western chickens, 38<3>44c.
St. Douls, September 9.—Poultry,
Geese. 18c; others unchanged.
Butter and Eggs unchanged.
Cash Grain
By Associated Press
Chicago. September 9.—Cash wheat: No.
2 red, $2.58(^2.59%: No. 2 hard. $2.57<S>2.57%;
northern spring. $2.52%.
Oats: No. 2 white, 66#67%c; No. 3 white,
65%@67c;.
Rye. No. 2, $1.95#1.97.
Barley. $1.03#1.12.
Timothy seed, $4.00@7.00; clover seed,
$22.00@27.60.
Pork nominal; lard. $19.30; ribs, $15.75@
16.75.
St. Louis, September 9.—Cash wheat:
No. 2 red winter, $2.65@2.68; No. 3 red
winter, $2.62@2.64; December, $2.47%;
March, $2.43%. %
Com: No. 1 yellow. $1.45; No. 2 yellow,
$1.45; September, $1.41; December, $1.30%@>
1.20%.
Oats: No. 2 white, 67c; No. 3, 66%@fl7c;
September. 67%c; December, 66%e.
14.75c, and occasionally at even a slightly
lower price.
Sugar futures were inactive and en
tirely without feature, closing 10 points
net lower to 5 points higher. Only a few
small lots were traded in.
soiree inarKei
New Tork, September 9.—The market
for coffee futures was easier today,
owing- to reports of further declines in
Brazil and unsettled Rio exchange
rates. After opening at a decline of 20
to 35 points there was moderate rallies
on covering, but the market weakened
again under scattering liquidation, ac
companied by reports of lower cost and
freight offerings. March sold off to
8.62c. or 37 joints net lower and closed
at 8.70c, with the general list closing
at a net decline of 29 to 40 points.
September, 7.50c; October, 7.70c; De
cember, 8.10c; January, 8.30c; March,
8.70c; May, 8.90c; July, 9.05c.
Little demand was reported for spot
coffee and prices lower at 8Me for Rio
7c and 14c to 15c for Santos 4s. Few
fresh offers were reported in the cost
and freight market. Those received
included well described Santos 4s at
12.25c to 12.50c, American credits.
Old style Santos futures were 100 reis
higher to 75 reis lower, and new style
unchanged to 25 reis higher. Receipts
at the tw$> Brazilian ports, 69,000; Jun
diahy, 36,000.
Metal Market
By Associated Press
N/w York, September 9.—Copper nomi
nal; electrolytic, spot, September and
October, $18.75@19.00. Tin steady; spot
and nearby. $45.00; futures, $45.50. Iron
irregular; No. 1 northern, $51.00<g53.00; No.
2 northern, $48.00@50.00; No. 2 southern.
$42.00@43.00. Antimony, $7.25. Lead steady;
spot, $S.50@9.00. Zinc steady; East St.
Louis delivery, $7.75(^7.85. At London:
Copper, spot, £97 7s 6d; futures, 97 12s
6d. Electrolytic, spot, £112; futures.
118. Tin, spot, £265 7s 5d; futures, £273
17s Vzd. Lead, spot, £35 15s; futures, £35
10s. Zinc, spot, £39; futures, £40 5s.
Spot Coffee
By Associated Press
New York, Septemuer 9.—Coffee, Rio.
sy4c.
A deposit of marl has been discovered
in Finland that is estimated to contain
125,000 tons that can be used as fertilizer.
We recommend the purchase
of Liberty Bonds
FRENCH
REPUBLIC
25*Year 8s
Redeemable at 110
Detail* on Requaat
Ward, Sterne
& Company
Stocks—Bonds—Mortgages
304-308 Brown-Marx Building
Main 595—4390
C
Closing Prices Were Several
Points Up From the Low
est on Renewed
Covering
By Associated Tress
New York, September 9.-The recent ad
vances of between two and three points
P©r pound were followed by very nervous
ard irregular fluctuations in the cotton
market today. The feature was the rel
ative firmness of October, which closed
at 28.86s, or thirty" points net higher,
while other points were unchanged to
fifty-seven points lower.
The market opened steady at a decline
of two points on July, with other months 1
unchanged to twer.ty-five points higher !
in response to relatively steady but very
soon weakened under hedge selling, real
ising and scattering liquidation. Active
months sold about fifteen to thirty-seven
points net lower, with October touching
27.S0 cents and January, 24.88 cents during
the middle of the morning. Reports from
London that arbitration of the coal
mining troubles had failed were accompa
nied by Liverpool selling, but the market
was steadied by the covering of October
shorts and there were rallies during the
middle of the day owing to the continued
unfavorable average and wet weather
and crop news.
The advance carried October fifty-three
points net higher, while January sold at
25.37c, making a net advance of twelve
points, but the demand was less active
than earlier in the week, with the market
turning easier during the afternoon. The
decline in October was held In check by
continued covering, while January sold
off to 24.80c. or forty-five points lower
and later months show’ed losses ranging
up to seventy points, with sentiment un
settled by reports of lower opening prices
for spring woolen goods and of unsettled
conditions in the silk trade.
Closing prices were several points up
from the lowest on renewed covering, ac
cording to local spot people, a firmer spot
basis in the southwest resulted from cov
ering by shorts, rather than a fresh de
mand from the trade.
New York Futures
By Associated Pres*
New York, September 9.—The cotton
market closed steady.
High. Low. Close.
October . 28.47 27.80 28.25
December . 26.47 25.85 26.1 8
January . 25.37 24.30 25.07
March . 24.95 24.1 8 24.48
May . 24.60 23.86 24.05
New Orleans Cottov
New Orleans, September 9.—An un
settled and uncertain market ruled in
cotton today, with net results on the
close showing both advances and de
clines, the trading montrs being IS
points higher to 43 points lower than
the closing prices of yesterday. Ir
regularity was a feature of the entire
session, and it was due to the strength
shown by October and the weakness of
the distant months, commonly sup
posed to be the result of the undoing
of straddles, the short end of which
rested on October.
Soon after the opening the market
was 12 to 33 points lower, but the pres
sure did not last long and the trading
months were shortly advancing on re
ports of too much rain in the belt and
complaints of considerable crop dam
age as the result of too much moisture
recently. Early losses were regained
and the market moved up to levels 17
to 58 points higher than the final prices
of yesterday. In these movements Oc
tober traded down to 2.670c and re
acted to 27.40c.
Following the receipt of private ca
blegrams from Liverpool, stating that
efforts to avert the English coal strike
had failed, the market turned weak
and selling gradually Increased until
the market fell to new low- levls, 12 to
59 points below the close of yesterday.
From then on till the close it was a
drifting sort of an affair.
New Orleans Futures
By Associated Press
New Orleans. September 9.—The cot
ton market closed steady. 18 up to 43
down, net
High. How. Close
October . 27.40 26.70 27 00
December . 25.63 24.97 25.2.7
January . 24.98 24.34 24.52
March . 24.45 23.69 23.85
May . 24.10 23.40 23.45
Spot Cotton
New Orleans, September 9 —Spot cot
ton steady and unchanged. Sales on the
spot, 481 bales; to arrive. Low mid
dling. 20.75s; middling. 29.25c; good mid
dling. 32.50c. Receipts, 1,267; stock,
197,232.
New York. September 9.—Spot cotton
luiet; middling, 31.75c.
Port Movement
New Orleans: Middling. 29.25c; re
ceipts. 1.627; exports. 2,330; sales, 601;
stock, 197.232.
Galveston: Middling. 30c; receipts.
5.906; exports, 10.383; sales, 436; stock.
134,739.
Mobile: Middling, 29e; receipts, 1;
stock. 2.259.
Savannah; Middling, 30.25c; receipts,
552; sales, 360; stock. 64,634.
Charleston: Middling. 30c: receipts,
41: stock. 224.506.
Wilmington: Middling. 2Sc; stock,
27,053.
Texas City: Stock, 5,457.
Norfolk: Middling, 30c; receipts, 44:
sales, 96; stock, 25,647.
Baltimore: Stock, 3,875.
Boston: Middling, 31.75c; receipts,
185; stock. 14.200.
Philadelphia Middling, 32c; receipts.
>3; stock, 4.823.
New Yorok: Middling. 31.75c: exports,
'50; stock, 29,055.
Minor ports: Receipts. 3: exports. 3;
stock. 1,713.
Total today: Receipts, 8,912; exports,
13,466; stock. 735,193.
Total for week: Receipts, 65.916; ex
ports. 44,566.
Total for season: Receipts. 253,204:
exports, 209.952.
Interior Movement
Houston; Middling. 29.50c; receipts.
1.661; shipments, 5.2S9; sales. 8,976;
stock, 215,646
Memphis: Middling. 32c; receipts.
1.042; shipments. 1,199: sales. S00: stock,
253,468.
Augusta: New middling. 29.50c; re
ceipts, 1,114; shipments, 30; sales, !66:
stock. 44,354.
St. Louis: Middling, 32c; receipts, 170;
stock. 9,783.
Atlanta: Middling, 33e.
Little Rock: Middling. 29.25c: re
ceipts. 2; stock. 15.041.
Dallas: Middling. 2S.80c: sales. 4,029.
Montgomery: Middling. 29c: sales, 21.
Total today: Receipts. 11.989; ship
nents, 6,518; stock. 53S.292.
Dry Goods
By Associated Press
New York, September 9—The American
Voolen Company's opening at 15 to 25 |
er cent below prices named in February
as the feature of today’s dry goods
arket. Buying was moderate. [
Cotton goods showed a better tone. Un- ' i
erwear was quiet, but raw silks made a .
BESSEMER
Tlie Age-Herald maintains spe
cial representatives in Bessemer.
Mrs. H. L. Bains is correspond
ent, to whom news items should
be given. Phone Bessemer 612-J.
Bessemer manager of circulation and advertising is C. £. Moore. Phone Bessemer 697.
Bessemer, September 9.—(Special.)—The
Bessemer Teachers' Institute will open
Tuesday at the Bessemer High School.
This is the first institute that has ever
been held for the Bessemer teachers in
the city, as up to this time they have
had to go to Birmingham.
Superintendent L. L. Vann has prepared
an instructive programme for the meet
ings and expects all of the teachers to
be present.
For the elementary schools classes have
been arranged for music, writing, draw
ing, arithmetic, civics, history, geography,
language, spelling, reading, phonetics and
physical training; and for the high scwooi
classes for the study on Tuesday of gen
eral high school aims, course of study,
regular reports and English history and
civics. On Wednesday the subjects
studied and discussed will be student self
government, the community an» nrgn
school activities, mathematics and lan
guages; and on Thursday the subjects
will be teaching pupils how to study,
the social life of the school, science, home
economics, manual training and commer
cial subjects.
In addition to this outline of study an
open hour will be held each day during
the institute, at which time the public
is invited to hear the lectures. This open
hour will be from 11:30 to 12:30; and three
men prominently connected with the state
educational work 'will be on the pro
gramme—Dr. J. W. Abercrombie, state
superintendent of education, and W. L.
Spencer and Dr. James S. Thomas, who
is in charge of the state extension work
of the university.
ROTARY CLUB
The Rotary Club met at their weekly
luncheon Thursday at Mrs. I. E. Taylor’s
with a good attendance, not, however,
with a 100 percentage attendance, as they
had hoped to have, as a number or the
members were out of town. The per cent
was 89.
George Shaw of Jackson, Miss., wai
the only guest at the meeting, and he
made a short and interesting talk. In ac
cordance with a plan made at the last
meeting two of the members were called
upon to give the explanation of theii
business, and Howe Price and Dr. G. R
Lewis each made very interesting talks
on their particular business. Mr. Price,
who i8 editor of the Bessemer Advertiser,
explained his newspaper work in detail,
and Dr. Lewis told the members very in
teresting facts about the launary »usl
ness, both of which were greatly en
joyed.
At a meeting of the board of directors
after the luncheon it was decided to send
the vice president, Lee Moody, and tho
secretary, R. L. Coons, to the conven
tion of the vice presidents and secre
taries of Rotary Clubs, which meets at
Americus, Ga., on September 23.
On Monday, R. L. Coons will take out
to Camp Chippewa the Boy Scouts who
tire members of the football team of the
High school. This will be the last camp
arranged for the boys this year. Mr.
Coons requests each boy who expects to
go on the camp to register at Pegram’s
Drug Store with Mr. Smifh, and to be
ready to meet him at the library at 9
o’clock Monday. Red Harris, who is the
coach for the Bessemer football team,
will accompany the boys on this camp
and practice games will be held.
RESIGNATION ACCEPTED
At a special called meeting of the
board or trustees of the Church of God
it was decided to accept the resigna
tion of Rev. Mr. Monk, who has been
pastor of the church for the past three
years. Mr. Monk has done splendid
work for his church in this district,
and his resignation was accepted with
regret. Mr, Monk goes to Louisville.
Ky., where he will be associated with
one of the largest churches of his de
nomination in the south. He expects
to leave with his family for that city
on September 20.
AUCTION BRIDGE CLUB
Mrs. V. H. Ragsdale was hostess at
one of the loveliest parties of the sea
son, when she entertained the Auction
Bridge Club and a number of other
guests. Thursday afternoon at her home
in the Orlean apartments.
The tables for the games were placed
on the porch in the living room and
dining room. Beautiful baskets of
dahlias, golden glow, and zinnias, with
potted plants and ferns made a lovely
setting for the players on the porch; I
in the living room and dining room
salvia in bowls and vases were used
with charming effect.
The club prize, a hand embroidered
towel, was won by Mrs. Fred Stover.
The guest prize, an embroidered towel,
was won by Mrs. Bruce Snider. The
consolataion prize, which was also an
embroidered towel, fell to Mrs. W. D.
! Taylor. After the games, Mrs. Rags
dale served a delightful salad and ice
'course to the following club members
and guests: Mesdames S. E. Grout, W.
D. Taylor J. S. Winters, Charles Ro
denberg, Lacy Edmundson, A. S. Fits
patrick, Fred Stover, Robert Smith, Dan
Davis, and L. D. McCullum, C. W. Mc
Donald, Kittrell Trotter, David Trotter.
Tom Johnson, Cecil Cowan, Curtis Do
zier, John Eagan, E. K. Miller, Bruce
Snider, Baker Mitchell, H. L. Bains, Ed
Read, Charles Kutchins, Mae Batson.
Eugene Hunnycutt and Miss Ethyl
Ragsdale.
PERSONALS
Mrs. Lawrence Gardner of Columbus,
Miss., is the guest of her sister, Mrs.
L. D. McCollom, at her home in the Or
lean apartments.
Mrs. Gardner Goodwyn and children
wno have been spending the summer in
Marionville, Mo., will return home Fri
day.
Mrs. Edgar Lee Mitchell and Miss
Elizabeth Mitchell returned Thursday
from an extended visit to relatives in
Louisville, Ky.
Miss Elise Bruns, who has spent the
past month in Goodrich, Tenn., as the
guest of her sister. Mrs. Lindley Flynn,
returned home Wednesday.
Miss Lady Portis, who has been en
gaged as chemistry teacher in the high
school, is the guest of Mrs. J. O. Sturdi
vant at her home in Jonesboro.
Miss Geraldine Odell will leave Fri
day for Maryville College. Tennessee, j
where she will re-enter school.
IVIUnt TIME GRANTED
Book Companies Allowed 15 Days Ad
ditional to Make Deliveries
Roosevelt’s Uncle Killed
Montgomery, September 9.—(Special.)
Book companies which have failed to
meet their contracts and deliver a suf
ficient supply of books by September 1
have been granted an additional fifteen
days by John W. Abercrombie, state su
perintendent of education, following the
showing that they have done everything
in their power to make deliveries on
time.
One company has reported that it has
been delayed by printers’ strikes and
inability to obtain white paper, while
another has not been able to obtain de
liveries of white paper under contract
executed many months ago.
Contracts were made with the boo't
companies two years ago for supplies for
l he next five years, the state reserving
the right to make new adoptions at the
end- of two years. The board of educa
tion decided not to make new adoptions
until next year, thus retaining the old
contracts in force three years.
MARINE NEWS
New Orleans, September 9.—Cleared:
Coppename, Port Barrios; Danville,
Puerto Padre, Cuba; Ganelon (British),
Avonmouth; Grelfryda (British), Bor
deaux; Imperator (Norwegian), Port Bar
rios via Belize, Stann Creek and Liv
ingston; Lake Foxcraft. Cieufuegos and
Cuban ^orts. West Cawthon, Italy via
Gibraltar.
Port Eads. September 9.—Arrived: Flor
ida, Port Arthur; Hancock County, Mo
bile; Managua (Nicaraguan), Bluefields;
0. T. Waring, Jacksonville; O-Evre (N6r
wegian), Marseilles; Omoa (Honduran),
Port Cortez; Oscar D. Bennett (late
George E. Paddleford), Tampico; San
Varlerio (British), Tuxpam; Shenandoah,
Port Lobos; Tesco (Italian), Barry; Tre
verbyn (British), Tlgiers.
Sailed: Comus, New York; Harry Far
num, Tampico; Heredia, Bocas del Toro
via Cristobal; Jose Taya (Spanish), Bar
celona via Havana; Manx Isles (British),
Tampico.
Mobile, September 9.—Arrived: Lake
Frelgnd, New York; schooners M. P.
Smith and Sherwog, Gulfport. Sailed,
none. •
Naval Stores
By Associated Press
Jacksonville. Fla., September 9.—Turpen
tine fitm, $1.38<gl.38V2; sales, 661; receipts,
555; shipments. 1.208; stock, 12,496. Rosin
firm; sales. 1.66S; receipts, 2,924; shipments.
1,116; stock. 67,095. Quote: B. D, E, F, G.
H, I, K, M. N, WG, WW, $12@12.15.
Savannah, Ga., September 9.—Turpen
tnie firm; $1.37ti. Sales, 194; receipts.
>50; shipments, 292; stock. 11,495.
Rosin firm. Sales, 194; receipts, 2,569;
shipments. 4.976; stock, 42,376.
Quote: B. D. E. F. G. H, I, K. M. N.
WG. $12.25; WW, $12.2o<§ 12.30.
Wants No Sex Party
By Associated Free*
Montgomery. September 8.—Alignment
with present political parties, rather than
affiliation with organizations of leagues
of women voters or a sex party was
urged upon opponents of ratification of
the federal suffrage amendment by Mrs. j
James Pinckard. president of the South- |
prn Women's Rejection League, today in j
answer to hundreds of inquiries relative I
to thill phase of suffrage, which she has
received.
Underwood Goes to Mobile
Mobile, September 8.—(Special.)—For the
purpose of inspecting the port and se
curing information he desires on meas
ures pending at Washington affecting
Mobile and to visit friends in this city, I
Senator Oscar Underwood will come here |
Friday. September 17. according to word j
received today.
slight price increase. Burlaps were dull I
ind hesitating.
Liverpool Cotton
Liverpool, September 9.—Cotton,
spot, good inquiry; prices easier. Good
piddling, 24.91d: fully middling. 2S.41d:
middling. 21.91d: low middling. 18.lid:
food ordinary. 14.66d; ordinary. 13.66d.
Sales, 8.000 bales. Including 5.600 Amer
can Receipts. 1,000 bales, including
i00 American Futures closed steady:
September. 19.99d: October. 19.76d; Jan
lary, lS.S4d; March. 18.42d: May. 17.97d;
fuly, 17.57d.
TOWBOATS ON WAY
Are Believed to Be On Ohio River
En Route From Jeffersonville
Mobile, September 9.—(Special.)—Three
twin screw towboats for use on the War
rior river, built at Jeffersonville, Ind.,
are probably en route to Mobile down the
Ohio river at the present time, it is in
dicated by information just received from
Washington to the efffect that the boats
were to be delivered by the contractors
on September 16. If there was no hitch
in the turning over of the boats they
should be in Mobile by the last of Sep
tember ready to be put into service be
tween t this city and Birmingham. Infor
mation that the boats were to be deliv
ered the first of this week was contained
in a letter to Rig Cobb, traffic manager
of the Chamber of Commerce, from the
office of Senator Oscar Underwood, in
reply to an inquiry regarding the equip
ment made by Mr. Cobb several days ago.
POOR COTTON WEATHER
Little Progress Made Except in Re
stricted Areas Last Week
By Associated , Press
Washington, September 8.—Decidedly
unfavorable weather for cotton prevailed
during the last week, and except in re
stricted areas, the crop made only poor
progress or deteriorated, a^eording to the
National Weather and Crop Bulletin “bf
the weather bureau issued today. Tem
perature averaged near normal in most
of the belt except tha*t it was rather cool
for the season in the northwest portion.
There was much cloudy weather, how
ever, and while rainfall was mostly light
or moderate in the north central portion
of the belt, heavy to excessive rains fell
in many eastern and western districts.
Earthquake Killed 500
Rome, September 9.—The Epoca es
timated the dead in the earthquake
exceeds 500 and thehomeless more than
20.000.
Hubbard Bros. A Co.
York. Members New York Cotton Exchangr
New Orleans Cotton Exchange. New York
Produce Exchange. Associated Members Liv
erpool Cotton Association. Orders solicit’d
for the purchase and sal* of Cotton ani
Cotton Seed Oil! for future delivery Special
attention and llSeral terms given for con
signment of spot eotton tor delivery. Cor
CAMPBELL & ORCUTT
COTTON BROKERS
Suite 217-218 Woodward Bldg.
Local Phone Main 6141.
Long Distance 9955.
Fast. Direct Private Wire*.
Correspondence Solicited.
tmmmKmmmmmmmmmmmmmmmmmmmmmmmmmmmmmma
We recommend the purchase of
Liberty Bonds.
Sinclair Consolidated
Oil Corporation
7V2*, 1925
This is a well secured issue sell
ing out of line with the mar
ket.
Yield. About 10 Per Cent
Details on Request
Ward, Sterne
& Company
Main 595-4390
204-306 Brown-Maya Building.
Stocks—Bonds—Mortgages
MORTGAGE
LOANS
NEGOTIATED
On business property, residences, im
proved Alabama farms, rates 6, 7
and 8 per cent.
Jemison Company
Birmingham, Ala.
211 N. 20Lh St.
POSTPONEMENT OF -
ROAD AMENDMENT
IS TO BE ASKED
Hope to Avoid Interference;
With Port Improvement and j
River Transportation
Legislation
By FRED H. GORMLEY
dnntgomary Bureau The A|e.Herald
221-2 First National Bank Bulidinf *
Montgomery, September 9—(Special.)— In
order that there may be no interference
with the constitutional amendments for
the improvement of the port of Mobile
and the granting to Jefferson county o*f
the right to improve the transportation
facilities of the Warrior river, the legis
lature will be asked at its special session
to postpone the amendment giving the
various counties the right to levy a tax
up to 50 cents on the hundred dollars
for the construction and improvement of
lateral roads.
Thi3 announcement was made this aft
er/ioon by Fred H. Gormley. who had
been made director of the campaign by
the Alabama Highway Improvement As
sociation, and who had completed pre
liminary plans for the campaign. The
decision was made after a conference
.\ .th various persons who have been in
terested in the improvement of public
roads, including W. s. Keller, state
highway engineer, members of the state
highway commission and persons promi
nently connected with the campaign In
February, which resulted In the issuance
of $25,000,000 in highway improvement
bonds.
F. J. Cramton, president of the 41^
bama Highway Improvement Associa
tion, telegraphed from Roxbury, VL
where he is on a vacation, that he was
heartily in favor of the postponement A
bill is now being drawn postponing the
submission of the amendment until 1922.
The official statement of the cam
paign director with reference to the
postponement follows:
"Conditions are still unsettled and the
association has reached the conclusion
that this is not the time to submit the
amendment. Two years from now the
people will understand how important
Local aid is, and we believe will be anx
ious to ratify the amendment. It is pro
posed to use funds obtained from local
taxation in constructing and improving
lateral roads connecting with the high
ways which will be constructed iby the
state and federal government.
‘ By the time another general election
is held the plan for the construction of
trunk roads will be In operation and
roads will be in course of construction
in all sections of the state. Mere reali
sation of the value of these trunk roads
will cause a great majority of the citi
zens to call for the construction of lat
eral roads connecting all sections and
settlements with the trunk roads.
"It has not been the desire of the
Highway Improvement Association to in
terfere with the other amendments,
which means much to the people of all
sections of Alabama. Instead, it has the
lesire to assist in every way possible,
in view of the fact that the Mobile port
Uid Warrior river amendments contain
10 provision whatever for the levying ot
iny tax against any class of property,
t is feared that some persons may con
:use. the local road tax amendment witn
he other measures. Therefore we bel
ieve it is to the best interests of Ala4- j
jama to request the legislature to ena>.f
egislation postponing the local rO‘,i\r
imendment until November, 1922."
Governor Kilby was consulted before
Lhe decision was made and agreed witn
he conclusion of the Highway Improve
nenfc- Association.
S. R. Stewart & Co.
Mtnbtri New Orleans Cot tee
Exchange
Cotton, Grain, Stock*—Private Wire a.
Prompt Attention Given All BuiMN
Cgvrespondent*: Juo. F. Clark A Co*
Rooms 401-402 Woodward Bldg.
Phene* Main 567 end 0311
We buy and sell Liberty
SHANNON & CO.
BROKERS
Members New York and New Orleans
Cotton Exchangee
Correspocden ts
Post A Flagg, 38 Wall Sc.
Naw York City
WE BUY STOCKS AND
BONDS FOR CLIENTS ON
MONTHLY PAYMENT PLAN.
212-217 Empire Bldg.
Phones Main 322 and 323.
Quoted
Liberty Bonds Bought, Sold and
ELIHU S. COLBERT
PUBLIC ACCOUNTANT
FIRST NATIONAL BANK
BUILDING
BIRMINGHAM,
PHONE MAIN 391
AUDITS—SYSTEMS—COSTS
ANGLO-FRENCH
To Holder* of Anglo-French
Bond*:
We offer a most attractive
proposition in exchance
for your Anglo-French 5s.
Particular* Upon Request
Securities Sales Co.
Serrico—Security
Caldwell & Garber
Managers
Building
Brown-Marx
Birmingham,
Ala.