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The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, January 13, 1922, Image 12

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85038485/1922-01-13/ed-1/seq-12/

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STOCK
UNUSUAL FEATURE
Stocks Firm at Opening.
Reactionary Later and
, Irregular at Close
Ik of Session
By Auoclftted Tress
New Tork, January 12.—Business
on the stock exchange today was
moderate In volume and lacking note
w or thy features. The recent invest
ment demand for government bonds
and other high grade securities
fceemed to have temporarily run ita
course.
Stocks were firm at the opening,
reactionary during the intermediate
period and irregular later, when of
ferings of oil, tobacco*, International
paper and specialties, including Co
lumbia Graphophone common and
preferred at low records invited
fresh short selling.
Kails, especially coalers, were the
only stocks to manifest a degree of
firmness or immunity from profes
sional pressure. Extreme gains of
1 to 2 points in that group were re
duced at the close.
Failure of the local federal reserve
bank to order further reductions of
rediscount and interest rates was
"without more than passing influence
on money rates. Call loans again
held at 8 per cent, and many new'
time loans at 4Vfc to per cent ware
leported.
The resignation of ths French
cabinet, in which the question of
German reparations evidently fig
ured, occasioned some activity in re
mittances to Paris. Foreign ex
changes as a whole, however, showed
.little unsettlement, reactions in
French, Belgian and German quota
lions being neutralized by strength
of Dutch, ttwiss and Scandinavian
lulls.
An unusually large gain of reserve
liabilities was ths chief item of ln
terest In the Bank of England's
statement. The report of th« State
i ank of Germany showed no change
in its gold holdings and note circu
lation, but credits and deposits were ;
substantially lower.
Liberty bonds eased on realising
lor profit, but closed at trLfling
i^uius and losses. Victory 3%s at
j 00.26 and the 4*4« at 100.30. made
now high records for a long period,
-wany of the old-tlm® railway bonds
'were in demand, but foreign Issues
■were irregular on latest develop
ments in the French political situa
tion. Total sales (par value; aggre
gated $22,875,000.
BANK OF FRANCK
By Associated Tress
Paris, January 12.—The weekly
f atenient of the Bank of Franco
shows the following changes:
Gold in hand increased 140,000
franco; silver in hand increased 175,
4100 francs, notes in circulation de
«-r caged 208,160,000 francs treasury
deposits increased 22,899,000 francs;
funeral deposits decreased 412,842,
«.h>0 francs; bills discounted decreased
403,8-12,000 francs; advances increased
...715,000 francs; the state repaid
£50,000.000 francs to ths bank.
NAVAL STORES
lSy Associated Trees
Savannah, Ga., January 12.—Tur
ji -mine firm, 85c; sales 99; receipts
shipments 5; stock 12,760. Rosin
Pun; sales 729; receipts 838; ship
ments 100; stock 86,595. Quote. B, D,
F, G. H. I, $3.95; K. $4.75; M, $5.20;
K $5.50; Wg. $5.76; Ww. $f
-J .... __
| IRON AND STEEL REVIEW |
Cleveland, January 12.—The Iron
Trade Review says: The first busl- I
ness week of 1922 has produced some
tangible support of the belief that
revival of heavier buying of iron and
steel has been waiting upon year-end
settlements.
Some Important tonnages have been
Included in the week’s turnover, with
resumption of Industrial operations
generally and buyers are showing
more disposition to open negotiations.
The best that the Industry expects Is
slow expansion. Stesl plants haye
begun the year on about a 40 per cent I
basis, but it Is confidentially pre- ;
dieted this will be enlarged soon.
The fall In steel ingot production
in December was in line with expecta
tions. Ingot production for the cal
endar year of 1921 is shown unof
ficially to have been approximately
ro,000.000 tons, which represents about
*46 per cent of the peak year of 1917.
With resumption of automobile pro
duction on practically 50 per cent
basis considerable buying of iron and
hieel is expected to originate soon
from this source. Ford Motor com
pany haa placed one order for 12,000
tons of sheets with Independent mills.
January production of this builder
• alls for 50,000 cars. General Motors
company schedule for this month is
made up of 8,000 Chevrolet, 0,300
Ruick, 1,500 Cadillac, 800 Oakland and ,
500 Oldsmobile.
The Dodge plant will build 450 !
[Maxwell, 150 daily, and Hupmobile 80 |
t ars daily. Studebaker plans to turn 1
out 3,500 at South Bend, and 4,500
at Detroit this month.
Railroad buying is reviving. Car
awards this week total 6.600. Rail
orders for 1922 on mill books total .
•100,000 tons. About 500,000 tons ad- ;
ditional will be closed shortly. A
v eleome break in many blank months
in this field is the award of some new i
vessel construction on the lakes. '
One new bulk freighter has been j
definitely placed, smaller craft closed
and a third large carrier Is on the
x erge of being definitely placed.
The Iron Trade Review’s composite j
market average of 14 iron and steel 1
products is a shade lower this week i
again owing to softness in pig iron.
Composite is 333.54 compared with I
333.64 the week previously, $33.99 in '
December and $27.96 in January, 1913. 1
The pig iron market is starting off
•with more activity in spots and a bet- !
ter outlook. Buying by leading pipe \
works in the south the past week has
called for probably 25,000 tons. Some
of the low grade iron went at $15.50.
Birmingham, and lower price of $16
for No. 2 also was developed on this
and other offers of sellers. American
Radiator company was further buyer
of 6,100 to 7,000 tons.
MONEY
TO LOAN
We now have at our
disposal fundi to loan
on Birmingham buii
nau and residential
property. Reasonable
rates with prompt
service.
INQUIRIES INVITED
MARXANp^GOh
NEW YORK STOCK LIST
Bf Associated Frm
Sales. High.
1200 61*i
10i> 34*
2800 33 *
1700 40
1800 105
600 44*
900 68%
200 32 3%
4000 116^
900 86%
2900 4'J V
1800 94 *
800 84*
1100 29
8600 86%
1600 34 *
900 66 v»
MOO 121%
400 aofe
1700 60 V*
1600
hoo a i V»
4 300
10300
3300
10400
13300 68
700 140
1800 73
4 3 *
8*
7 9 ‘ »
79%
47*
1000 40
6900 68
10600 49 V*
Allied C. * D.
Am. B. S. ...
Am. C. & F. . .
Ain. 1L A 1a, pfd.
Ain. Ini. Corp.
Am. Loco.
Am. Linseed . .
Am. 8. A R. ...
Am. Sugar ....
Am. Sum. Tob.
Am. T. & T. .
Am. Woolen ...
Anacon. Cop. ..
Atchlaon .
A. C. L.
A.. G. * W. 1.
Haiti, lioco. ...
Halt. A Ohio -
Bet h. Steel If
Can. Pacific ..
Cent. Leather
(’hand. Motors
Che*. & Ohio .
C., 21. At St. l\ .
C.. R. 1. & P. .
Coca-Cola .
Corn Prod.
Crucible Steel
Cuba ('. Sugar .
hind icott-Johnson
Krie .
Gen. Asphalt . .
Gen. Klectrio . .
Gun. Motors . ..
Gt. Nor., pfd.
Gulf 6. Steel . .
111. Central ....
map. Cop. ...
Internal. HarV.
lnt. Mer. Mar., pfd
internat. Paper
Invincible Oil ....22100 16V*
Kelly - Springfield. 1300 36*
Kennecotl Cop. ... 1800 26*?*
Louis. A Nash.
Alex. Petro. ..
Mid. 8. 011 ...
Midvale Steel
Mo. Pacific . .
N. Y. Central
N. Y.. N. H. A H
Norf. A Weal. .
N'or. Pacific . . .
L'k I a. P. * R. .
Pacific. Oil _
Pan Am. Petro.
Pennsylvania
Pure Oil .
Heading
Hep. LAS.
Royal Dutch, N.
St. L. A H. Jf\ .
S. A. L.
Sears-Roebuck
■thell Tr. A Tr.
Sinclair O. * R.
SlosB-Sheffleld
South. Pac. ...
South. Ry.
S. O. ot N. J., pt
Studebaker Corp.
I'enn. Copper
Texas Co.
Tex. & Pac. ...
l'ob. Prod.
1'ranscon. Oil .
Union Pacific
United Fruit ..
U. S. F. Prod. .
L'. 8. Ind. Alco.
U. R. Store* ..
U. H. Rubber . .
U. 8. Steel ....
Utah Copper
Vanadium Corp.
V’.-C. Chern. ...
West. Union ..
West. Klee. ...
Wlllys-Overland
Miami Copper
Hay Copper
fd
900
1900
100
4 900
1700
1700
1200
18000
300 62
1900
400
• 100 64%
1300
9000
3300
2600
1100
800 31
Total sales. 608,900.
400 16
34*
3 3*.
39 Vi
103*
4 4 V*
68*
3 3 • '»
116*
57*
34*
33*
143
68
39*4
10 4 V*
29 *
4 4 V*
68*
33*
116*
48t
93 5
78*
66 *
138 *
6*
7 2*
66 *
41
14*
35*
26 *
16700 110*
6400 12
108*
11*
3 400 29* 29
n %
74*
1800 13*
3300 97 *
2600 76*
16*
73*
13*
97
7 6 *
2*
46*
60*
33*
36*
4*
61 *
21*
4 b -M
bO V*
33*
36*
73 *
61*
61 *
21*
38 *
20 *
63
38
19*
79*
18
48*
400 114*
12000 82*
200 30
12800 45*
200 26*
800 63-4
2400 10*
1800 127*
1000 123*
2700 7 *
6700 40 %
4300 52*
8 00 63 *
6000 83*
900 116*
210U
400 91*
600 60 V*
400 6*
1000 27 *
94
84
28*
34*
66*
130*
30*
60
65
17*
31
42*
96*
61 *
48*
94*
*4 *
28*
94
34*
66*
121
30 V*
60
66 *
17*
31 *
• 8 *
8*
73
47 *
80*
66*
47*
16*
36
26 V4
103*
109
12
29 Vi
17*
74
13*
»7 *
*6*
•to*
oU*
33*
36*
74*
61 >»
61 *
21 *
2 *
4
64
38
20*
79*
17*
48
114*
3 1 *
9*
44*
26*
63 *
9*
126*
122*
7*
39*
62*
62*
83
116
63
30*
36
79*
18
48*
114*
82
91*
60
5*
14*
10
44*
26*
63*
10*
127*
123*
7*
39 *
62*
62 *
116*
63
30*
27*
91 *
60
6*
£7
14*
NEW YORK BONDS
H) Associated l f«M
U. S. Is. registered, bid ......
U. ti. 2a, coupon, bid .
J. 8. 4a. registered. bid .
J. 8. 4a, coupon, bid .
i’antnit 3a. registered bid...
Panama 3a, coupon, bid .
American Smelt. * Kef. 6a
imer. Tel. & Tel. cv. 6a .
Mchiaon gen. 4« .
\t Untie Coast ldne lat 4a ....
Baltimore A Ohio cv. 4 * a . ...
ilethlehem Steel ref. La .
Central of Georgia Consol. 5a .
,'entral Leather 6s .
lioaapeake A Ohio cv. 6a .
Chicago, Mil. & St. P. cv. 4'4»
Jhlcugo, It. 1. <fc Pac. Ry. ref. 4a
'olorado & Southern ref. 4*a
Denver A Rio Grande Consol. 4a
Dominion of Canada 6a (11)31)
Krle gen. 4a...
Illinois Central ref. 4a .
Int. Mor. Marine 6s..
Kansas City Southern ref. 6a .
Liggett A My era 6s .
Louisville A Nashville un. 4s .
Mo.. Kan. A. Tex. lat 4a .
Mo. Pac. gen. 4s .
New York Central deb. 6a . ..,.
Norfolk A Western cv. 6a
Northern Pacific 4s .
Pennsylvania gen. 6a .
Reading gen. 4s .
Republic Iron A Steel 6s (1940)
St. Lou la A San Fran. adj. 6a .
Seaboard Air Line ad). 6a, bid .
Southern Bell Tel. 6s .
Southern Pacific cv. 6a. bid . . .
Southern Hallway 6a .
Southern Railway gen. 4a ....
Texas A Pacific lat 6s, bid . . .
Union Pacific 4a .
United Kingdom of O. B. A I.
(1987) .
U. S. Steel 6s .
Vlrginla-Carolina Chemical 6a
Wabash lat 6a .
Wilson A Co. cv. 6a .
. . 101 *
. . 101 *
. • 104*
■ • 104*
80
80
. . *7*4
• • no*
■ • 88*
*8*
. . 75*
.. ui
.. 9 Mi
94
. . 86
61
. . 77**
M\
.. 76
. . 96*
41*
86*
• . 91*
86
• • 92*
. . 90
• ■ 7 4 74
. . 61*
• • 99 *
. . 104*
• • 8«*
96*
• • *4*
■ • 92*
• • 72*
• 14*
. 96
96
89*
63*
89
90
6*a
98
100*
94*
96
66*
LIBERTY BONDS
By Associated Press
New York. January 13.—Liberty bonds
closed :
S*a .
First 4a
Second 4a.
First 4*s
Second 4*s
Third 4 *a
17.80
97.76
97.68
97.90
97.94
98.06
Fourth 4*a 99.06
Victory 3*a 100.24
Victory 4*a 100.34
$ 7.00(6' 8.1a
4.36® 6.25
8.75® 9.25
CHICAGO LIVE STOCK
By Associated Press
Chicago, January 12.—Cattle: Receipts.
11,000, active; beef Mtears and fat she
stock steady to strong; best ^eavy steers,
18.76. weight. 1,749 pounds.
Hullt beef steers .
Bulk cows and heifers
Hulls closing steady to strong
Calves strong to ‘^6c higher.
Bulk veal calves .
Stockers and feeders strong.
Hogs. Receipts. 40,000; mostly jagtOo
higher than yesterday's closing. alow;
shippers bought about 14,000; holdover
very liberal; big packers practically out of
the market.
Top on light lights
Practical top. 100 to 170 lb
hoga .
Bulk .
Pigs 40c to 60c higher
Bulk desirable
Sheep: Receipts
$ 8.76
8.66
8.00® 8.40
nnrsp. «
iteady; medium fat lambs closing
8.60® 8.75
generally
ak.
l«'st lambs, top
Hulk .
Yearlings, top .
Pat ewes., top .
Hulk .• •••
Hest feeder lambs, bid
11 2.90
12.5*>® 12.86
11.60
7.10
t>.00(6 6.75
11.76
EAST ST. LOUIS LIVE STOCK
By Associated Press
Hast St. Louis. January 12.—Cattle He
ceipls 2.200; beef steers. light yearling*.
Cat cows and stocksra sold 26c higher;
bulla steadv. veal calvea 60i higher.
Bulk good and choice vealers
going .M*!!*10’1*
Top . 11.00
Hogs: Receipts, lt.60*; closing slow;
generally 26c higher.
Top early .*..
Late ...
Bulk 110 to lio lb. averages
Bulk 190 to 240-lb. kinds ...
Heavies ..
Packer sows 10® 16c tip -
Pigs steady to 60c highsr ...
Clearance fair.
Sheep: Receipts. 1.800;
lambs 26036c higher; others unchanged.
Limbs. top to shippers . . . *12.86
Bulk good and choice lambs. 12.60012.86
Packers ... 1‘2.76
Bulk good and choice lambs . 12.50012.85
Culls . 9.00® 9.60
Ewes . 6-60® 6.25
Clearance good.
9.00
8.76
8.65®
8.26®
7.76®
6.861
9.00
8.86
8.10
6.26
7.76® 9.00
active, beet
LOUISVILLE LIVE STOCK
By Associated Press
Ijouisville. January 12.—Cattle:
ceipta. 100, active.
Heavy steers .I 6.60®
Beef steers . 4.60®
Heifers . 4.60®
Cows . 2.00®
Feeders . 6.00®
Stockers . 3.60®
Hogs: Receipts. 1.600; strong.
166 pounds down . 8 8.60
166 pounds down . 8.25
Throwouts . 6.25
Sheep: Receipts. 60; steady.
Lambs .$10.00
Re
7.00
6.60
6.76
6.50
6.00
6.60
FOREIGN EXCHANGE
By Associated Press
New York, January 12.—Foreign
exchange irregular. Great Britain
demand 4.22%; cables 4.22%; 60-day
bills on banks 4.19%. France demand
8.14; cables 8.15. Italy demand
4.32%; cables 4.33. Belgium demand
7.79%; cables 7.80. Germany demand
53%; cables 53%. Holland demand
36.80; cables 36.86. Norway demand
17.75. Sweden demand 24.95. Den
mark demand 20. Switzerland de
mand 19.40. Spain demand 14.96.
Greece demand 4.3.5. Argentine de
mand 33.62. Brazil demand 12.75.
Montreal demand 95.
METAL MARKET
By Associated Press
New York. January 12.—Copper
steady; electrolytic, spot and nearby
13%@14c; later 14c. Tin firm; spot
and nearby $33.12; futures $32.87. Iron
steady and unchanged. Dead steady;
spot $4.7004.80. Zinc quiet; Fast St.
Louis delivery spot $4.80. Antimony
spot $4.50.
I
lb
AGAIN UNSETTLED,
CLOSING STEADY
Little Trade Buying or Cover-,
ing on Declines and Net
Gain of 3 to17 Points
Was Registered
Bj Associated Press
New York, January 12.—The cotton
market was unsettled again today.
Advances met increased offerings but
the selling was not as active as
earlier in the week, while there ap
peared to be a little more trade buy
ing or covering on declines, and the
close was steady at a net advance of
3 to 17 points. After scllln-g at 17.98c
early. March contracts reacted to
17.78c, later advancing to 18.02c and
closing at 17.88c, compared with
17.82c at the close of the previous
day.
The market opened steady at an
advance of 8 to 13 points and the
more active positions sold about 10 to
16 points net higher right after the
call on relatively steady Liverpool
cables, better Manchester advices, and
talk of a firmer technical position.
As March approached the 18c level,
offerings increased with the south a
moderate seller and prices broke
late in the morning with January
selling off from 18.05c to 17.88c, or
about 4 points net lower.
The market then steadied on re
ports of a better tone In the stock
market and while there was ‘another
little flurry of early afternoon selling
on the reported resignation of the
French cabinet, prices soon firmed up
again on reports of a firme.r spot
basis in the southwest. January ad
vanced to 18.10c and May to 17.66c,
making net advances of about 18 to
25 points on the general list. The
announcement that the governor of
Texas has created non-cotton pro
ducing zones in parts of Ellis. Gray
son. (’ollin and Liberty counties in
the fight against the pink boll worm
has been very generally anticipated
but probably accounted for the rela
tively firm ruling of October. Pri
vate returns indicating domestic con
sumption of 474.000 bales for Decem
ber compared 'with the low' record of
294,000 last year was considered more
bullish than otherwise, although It
showed some falling off from the No
vember figures. There was New Or
leans selling on the closing reac
tions of 10 or 16 points when the
market was sensitive to comparative
ly small orders and general business
was quiet.
NEW YORK COTTON
By Associated I'rfM
High I.ow
New York, January 12.—
January . 18.10 17.88
March . 18.04 17.78
May . 17.G6 17.40
July . 17.18 18.05
October . 16.50 16.30
X EW OR l/E AN S < OTTO N
By Associated Press
New Orleans. January 12.—Higher
from the opening today, the cotton
market had a complete change of
complexion from what it has been
wearing of late. Shorts furnished a
good part of the demand, covering to
secure their profits; this wna par
ticularly the case In the morning ses
sion. In the afternoon fresn long
buying became a factor, and on It the
market reached its highest levels,
showing advances of 27 to 33 points
on the old crop months. October, at
its best, traded 20 points up. not
showing the strength tjiat the nearer
months had. March went to 17.09o
and October to 15.86c. On the close
the list wan at net gains on the day
of 10 to 16 points, with March at
16.91c and October at 15.78c.
A better Liverpool than expected
helped the market on the opening,
and the buying was continued on re
ports from Texas that the governor
of that slate had issued a proclama
tion prohibiting the planting of cot
ton in additional areas in the coun
ties where the pink boll worm had
been discovered. Toward the middle
of morning there were recessions
of 10 to 16 points, but the market
came back again at midday on pre
dictions of bullish week and sta
tistics.
In the late trading reports of the
resignation of the French cabinet
were regarded as a favorable devel
opment. and bullish traders com
menced to take hold again on the
idea that the resignation wrould clear
the European situation.
Closs
17.96
17.88
17.48
17.06
16.42
New
January
March
May . ..
July . . .
October
NEW ORLEANS C'OTTON
By Associated Pres*
Orleans. January 12.—
High
17.04
17.09
16.97
16.65
15.85
16.84
16.78
16.68
16.38
15.76
16.94
16.91
16.80
16.45
16.78
SPOT (OTTOX
By Associated Press
New Orleans. January 12.—rSpot cot
ton steady and unchanged, f .Sales on
the spot 1.62-4 hales; to arrive 100. ;
I/Ow middling 15c: middling 16.75c: '
good middling 17.75c*. Receipts 3.045;
stock 34 7,1 87.
New York. January 12.
quiet; middling 18.26c.
Spot motion
■ •I » rjiii wuu » I iu i
By Auool»t«d Pres*
Liverpool. January 12.—Cotton spot
in fair demand; prices easy; good
| middling 11.46d ; fully middling; 11.Old;
i middling- lO.Tld; low middling; 9.56d;
good ordinary 8.Old; ordinary 7.26d: i
sales 7,000 bales, including; 4,900
American. Receipts 1.000 bales, in
cluding; 500 American. Futures closed
steady; January 10.68d; March 10.Sid: '
May 10.Bid; July 10. Si>d; September
10.06d; October 9.88d: December 9 70d. j
PORT MOVK.HEMT
By Associated Press
New Orleans: Middling; 16.75c; re
ceipts 3.045; exports 1.477; sales 1,724; 1
stock 347.187.
Galveston: Middling; 17.60c; receipts
4,915; exports 7,200; sales 350; stock
344,943.
Mobile: Middling; 16.50c: receipts
1.636: sales 65; stock 19.828.
Savannah: Middling- 17.50c; receipts
670: exports 5.253; stock 152.083.
Charleston: Receipts 314; stock
106.841.
Wilmington: Middling 17c; receipts
1 118; stock 39.902.
Texas City: Stock 13,185.
Norfolk: Middling 17.25c: receipts
MORTGAGE
LOANS
We have several attrac
tive notes secured by first
mortgage on Birmingham
real estate, yielding 6 per
cent to 7 per cent.
Details on Request.
Ward, Sterne j
& Company
lBVMtmrat Sacuritioa
104-308 Brown-Mars BMf.
Mala 880-4380
Over Private Wires
SHANNON A CO.'S LETTER
New- York, .January 12.—(Special.)
With less pleasure to sell and more
encouragement from Liverpool and
reporta of a firmer basis in Texas,
prices wer* steadier today, though
there was cotton for sale whenever
March worked up to 18 cents or about j
that. Manchester advices said that
East Indian markets were improving
and a better business was looked for ;
from the far east after the Chinese
new year observances which would
occur February 1. The official decla
ration of non-producing aonei in some j
of the best countiesrin Texas seemed
to bring home the necessity for dras- :
tic measures to eradicate the pink boll J
worm, the worst of all cotton pests.
One rally does not make an advance
and fresh disquieting rumors will no
doubt make their appearance from i
time to time and jar the nerves of :
the market, but these w ill, we believe, i
gradually steady and communicate a ,
stronger degree of confidence to the i
brain of the body economics. Con
servative action on the constructive
side in weak markets still looks the
best.—Post A Flagg.
HIJBRARI) BROS. A CO.
New York. January 12.—(Special.)
The market opened steady on better i
Liverpool cables, and the advance
was aided by a report from Texas
that the spot basis had improved
within the last 24 hours. The mar
ket acted steady practically during
the entire session. After small wave*
of selling at various times, tho mar
ket promptly came back showing a
better undertone than for some day?
past. The feeling is very much mixed,
but the general feeling is more or
less bearish. The advance that oc
curred today is more or les.i of a
natural reaction, and we w-ould not
he surprised to see the market sell |
off further before a steady advance j
occurs.—Hubbard Bros. & Co.
630; sales 447; stock 142.061,
Baltimore: Stock 2,064.
Boston: Middling 18.20c: receipts
560; stock 6.100.
Philadelphia: Stock 8,360.
New' York: Middling 18.25c; stock
85,764.
Minor ports: Receipts 750: exports
750; stock 3,347.
Total toda^: Receipts 12.647; ex
ports 14.680; stock 1,272,565.
Total for week: Receipts 78.603;
exports 51.235,
Total for season: Receipts 3,706,
101; exports 3,126,130.
INTERIOR MOVEMENT
By Associated Press
Houston: Middling 17.60c; receipts
1,367; shipments 5.616; sales 2,964;
itock 317,706.
Memphis: Middling 18c; receipts
2.821; shipments 3,161; sales 1,050;
stock 268,467.
Augusta: Middling 17.13c: receipts
1,604; shipments 1,053; sales 124; stock
141.467.
St. Louis: Middling 18c; receipts
>,293; shipments 4,149; stock 27,134.
Atlanta; Middling 17.60c.
Little Rock: Middling 17.7oc; re
ceipts 998; shipments 962; sales 25.3;
stock 66,746.
Pallas: Middling 17.15c: sales 748.
Montgomery: Middling 16.81c.
Total today: Receipts 14,683; ship
ments 14.941; stock 811,484.
COTTON SEED OIL
Br A9tn*ria ted Press
New York, January 12.—Cotton
seed oil advanced 3 to 8 points on
buying by refiners and short cover
ing, inspired by the firm showing in
lard and crude oil. Realizing sale::,
caused a setback late in the session,
the market closing practically un
changed from the previous night.
Sales 22.500 barrels; prime crude
$7.15 sales; prime summer yellow
spot $8.35; March $8.75: May $9.02:
July $9.25, all bid.
DRY GOODS
By Associated Press
New York, January 12.—Cotton
goods were quiet and barely steady
today. Yarns were irregular, with
trading light. Raw silk was steady.
Wool goods markets were quiet. Bur
laps were slow.
POTATO MARKET
By Associated Tress
Chicago, January 12.—F'otatoes
firm; Wisconsin sacked $2(02.15 cwt.;
Michigan sacked $2.05(0)2.15 cwt.;
Minnesota sacked $1.95(02,05.
SUGAR MARKET
By Associated Pres#
New York, January 12.—The local
raw sugar market was firmer and
prices were 1-16c higher to the ba
sis of 2c for Cubas, cost and freight,
equal to 3.61c for centrifugal, on
sales of 27,000 bags of Cubas to oper
ators at that level. Other business
reported included 2.600 tons of San
Domingo centrifugals at 1 15-16 c. i.
f. New York to a Canadian refiner,
and 7.000 tons of San Domingo to
the United Kingdom at 11s 3d. c. 1. f.
United Kingdom, all for January
shipment.
There was further strength in the
raw sugar futures market today, with
prices at one time 5 to 7 points net
higher on trade and commission
house buying, prompted by the firm
ness of the spot market. Near the
close there was a partial setback on
realizing, with linal prices 3 to 5
points net higher. March closed r.t
2.26cts May. 2.45c; July, 2.63c, an J
September. 2.73c.
The demand for refined was less ac
tive, but prices were unchanged at
4.80c to 4.90c for fine granulated.
Refined futures were without
transactions. Closing prices were
unchanged to 6 points net higher,
with March at 6.15c, May and July,
5.50c.
11)1'rnn HMnnm
Br Associated Pww
New York. January 12.—The mar
ket for coffee future* opened at a
decline of 1 to 6 points owing- to the
rather easier showing of Brasil.
Prices rallied slightly after the call
on covering by near month shorts
with March selling up from 3.58c to
8.62c, but there was not enough buy
ing to sustain the improvement, and
last prices were the lowest of the
day with the market closing at a net
decline of 3 to 6 points. Sales were
estimated at about 26,000 bag*. Jan
uary 8.47c; March 8.57c: Jla, 8.42c:
July and September 8.33c: October
8.32c: December 8.30c.
Spot coffee was unchanged at 9c
to 9Vac for Rio 7s. and 12c to \2tyc
for Santos 4s. Cost and freight offers
included Santos 3h and os at 1’.50c to
12.15c, and Rio 7s at 8.20c to S.46c
American credits.
The official cables showed an ad
vances of 25 rein in the dollar buying
rate with no change m the rate on
London. Rio was 75 to 100 reis low
er and Santos unchanged to 100 rei.s
lower. Rio cleared 5,000 for New
York and 9.000 for New Orleans. Vic
toria cleared 13,500 for New Orleans
and 9.000 for New York. Santos
cleared 800 for Boston. Brazilian
port receipts 46.000: Jundiahy 28,000.
BlG REALTY DEAL
Eufaula Man Disposes of His Home
and Store House
Kufaula. January 12.— (Special.)—
A real estate real of note here to
day was the sale of his home and
store house on Randolph street by
Wm. Stokes, to Jessie Hatfield. Mr.
Stokes has purchased the store and
truck farm of Jasper Cronin In Ho
bc ken. a suburb of Eufaula. He will
build a residence and operate a mer
cantile business and a large trucking
business. It is one of the largest
deals made here in some time.
SOMEBODY IS ALWAYS TAKING THE JOY OUT OF LIFE
-By BRIGGS
j $ HOVAJ 5 ^Tne * we W
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MfH HEM
Wheat Averages
Slightly Higher
Price Yesterday
By Associated Pres*
Chicago, January 12.—Wheat aver
aged a little higher in price today
chiefly owing to removal of hedges
against sales of 1,300.000 bushels of
seed wheat taken for shipment to
Russia. The market closed unset
tled, varying from %c net decline to
%c advance .with May $1.11* to
$1.11* and July 90* to 99%c. Corn
finished a shade to *c higher. Oats
unchanged to a shade off. and pro
visions at gains of 7* to 50c.
In addition to the bullish effect of
Russian relief dealings, the wheat
market was given at times a slight
further stimulus by indications of im
provement in domestic milling de
mand. Firmness in the Liverpool
market tended somewhat also to
help the bull side. On the other
hand. general export inquiry was
slow as a result apparently of Ar
gentine competition. Besides the gen
eral market effect of the fall of the
French cabinet was depressing, al
though May delivery scored the high
est prices of the season after the
news from Paris had been circulated.
Assertions that the Italian govern
ment might throw its 37,000,000
bushels of wheat reserve on the mar
ket to prevent a rise In bread prices
was given as a reason for selling
which weakened prices here at the
last.
Corn and oats were upheld largely
by the influence of purchases made
for Russian relief.
Higher quotations on hogs ap
peared to be responsible for the ad
vance in the provision market.
By Associated Press
Chicago, January 12.
May . • .*.
July -
Corn—
May .
July ....
Oats—
May -
July -
Pork
May
Lard—
Mar.
May ....
Riba—
Jan., ....
May
AT’
1.00
.53%
• 56%
.88%
.39%
9.IB
9.42
3.45
8.40
High.
1.12*4
1.00%
.53%
.65%
.38%
.39%
9.17
9.50
8.45
8.66
1.1*0%
.99*4
.53%
.54%
.38%
.39
i!ir%
.99 %
.63%
.54%
.38%
• 39%
9.12
9.42
8.36
8.40
IS.00
16.30
9.1*
9.45
8.35
8.45
PHODITB
By Associated Press
New York, January 12.—Butter,
firm: creamery, higher than extras,
35%@36c; creamery extras. 35c; firsts
31% (8)34c. Eggs: Steady: fresh gath
ered extra firsts. 38®)39c; firsts, 35
®37c; refrigerator firsts, 26%@23c.
Cheese: Steady.
New York. January 12.—Live poul
try. steady; prices unchanged.
Dressed poultry, firm.
St. Louis, January 12.— Eggs. 32c.
Butter and poultry unchanged.
CASH GRAIN
By Associated Preee
Chicago. January 12.—Wheat, no
sales reported Corn, No. 2 mixed,
49® 49 %o: No. 2 yellow 49®49%c.
Oats. No. 2 white 37%@38%c; No. 3
white 34 (0 35 %c. Rye, No. 2 78%c.
Barley 63® 55c. Timothy $5® 6.26.
Clover $12.50® 18.50. Pork nominal.
Lard $9.12. Ribs [email protected] 87.
St. Louis. January 12.—Wheat. No.
3 red $1.14(01.19; No. 4 $1.13® 1.14:
Mav $1.08%: July 97%c. Corn, No.
2 white 47Hc; May 52H®53%c: July
53 %c. Oats—No. 2 white 36 He:
May 39He.
RICE MARKET
By Associated Press
New Orleans. January 12.—Rough
j rice nominal. No sales: receipts 932
; sacks; millers* reecipts same.
[ Clean rice firm and active: sales
[reported: 150 pockets Honduras a*,
i G%c; 8,552 pockets Blue Rose at 3%
! Cf 4 5-16c: 250 pockets storm proof a:
5 % @ 5 % c; 925 pockets second heads!
[at 3c: receipts SIS pockets.
Bran and polish unchanged.
FOREIGN MONEY
By Assnclntfd Pres*
New York. January 12.—Foreign |
bar silver 6o%c: Mexican dollars 50c.
$40,000,000
Dutch East Indies
25-Year Ext. 6 Per Cent
Gold Bonds
Not Redeemable First Ten Years
Sinking Fund Commencing 1932 Will
Retire All Bonds by Maturity
Bonds are direct obligation of prob
ably richest colonies in world, suc
cessfully governed by Holland for
over 300 years.
\ Price: 94 and Interest
Caldwell-Garber
Company
Brown-Mens Building
Birmingham. Ala.
Building Shows Gain
of 15 Per Cent Over
Year 1920 in U. 5.
By Associated Prew
IVfw York, January 12.-—Total
expenditure* for building
throw Kb out the country for the
year 1921 «1,595, 165,1 92, a
Kaln of 14.9 per cent over the rec
ord year of 1920. Hradstreet**
announced today. Report* from
1.10 c'tie* nhovved that 9120.994,
839 had been expended for bi'I’J
Ing In December, a gnin of 112.8
per cent over December, 1920.
Wmhington, January 12.—Re
tail food price* In 10 principal
cltle* In the 1 nlted State* dc
<*renacd 12 to 1.8 per cent In the
12 month* ended December lb
last, the bureau of labor statln
tic* of the department of labor
announced today. The bureau**
figure* showed that price* pre
vailing la*t month In 13 of the
cltie* from which 1913 ntatlntlc*
were available had increased
*lnce that year from 33 to 59 per
cent. Mobile and Savannah had
the highest percentage of de
crease In price* for the 12 month*
period, each reprenentlng an 18
per cent decline. Decrease* dur
ing the month, November 15 to
December 15, Included Mobile and
Savannah. 1 per cent.
Richmond, Va„ January 12.—
The Virginia hoimr of delegates
late today, by a vote of 76 to 17.
went on record M being opposed
to any bond Imup for road con
struction in the state at thin ses
sion.
New 1 ork, January 12.—Kale of
the Haskell & Barber company
to the Pullman company was rat
ified at a special meeting of
stockholders today. Dissolution
of the corporation was ordered
after a special dividend of 91.25
a sKnre had been voted, payable
at onee. Holders of Haskell A
Barker stock will receive for
each share 91.25 In cash and
three'fourth* of a share of Pull
man company stock.
Nashville, January 12.—Motion
to confirm the sale of the Ten
nessee Central railroad to C, M.
Hovey, purchaser at the sale on
Tuesday, for 91.500,000 will be
argued before Judge K. T. Dan
fort h at Knoavllle January 20,
It Is announced today.
BANK OF ENGLAND
Bj Associated Press
London, January 12.—The weekly
statement of the Bank of England
shows the following changes:
Total reserve Increased £2,080,000;
circulation decreased £2,067,000; bul
lion increased £12,793; other securi
ties decreased £34,868,000; other de
posits decreased £45,017,000; public
deposits decreased £.516,000; notes re
serve increased £2,070,000; govern
ment securities decreased £13,748,000.
The proportion of the bank’s re
serve to liability this week Is 15.99
per cent; last week it was 11.04 per
cent.
Rate of discount 5 per cent.
MONEY MARKET
By AsMcUted Pmi
New York, January 12.—Call money
steady; hlgrh 3V4 Per cent; low 3V4
per cent: ruling; rate 3V£ Per cent;
closing; bid 3 per cent; offered at 3V4
per cent; last loan 3V6 per cent; call
loans ag;ainst acceptances 3% per
cent. Time loans easy; 60 daya 4 V6
per cent; 90 days 4Vi per cent; six
months 4 Vi per cent. Prime mercan
tile paper 4% @5 per cent.
An Electric Fan Manu
facturer Wants a Man
ufacturers’ Agency
Connection in Bir
mingham
The man who represents this
company must have been in con
stant touch with electrical job
bers and dealers in this section
for at least the last three years.
The fan of itself has the most
distinctive selling features from
the customer’s standpoint of any
fan on the market and is sup
ported with a thorough merchan- j
dising plan and excellent adver- j
tising material. The manufac
turer has been making high
grade electric fans for 21 years.
Give full details of experience
and state other lines you now
handle. All correspondence will
be treated confidentially.
Address S-44, Care Age
Herald.
MARINE NEWS
By Associated Press
Port Eads, January 12.—Arrived:
Bessemer City, Calcutta; Bowden
Br.), Port Barrios; Cokesit, 3a van
lah; Creole, New York; Frederick
Luckenbach, Mobile; Infanta Isabel
Spain), Galveston; West iCedron.
Norfolk.
Sailed: Cartagro, Bocas del Toro.
Pagernes tltal), Havana; Jamaica
(Nic.), Vera Cruz; Janeta (Br.), Glas
gow; Munorway (.Nor.), Vera Cruz;
D. T. Waring, Mexico; William H.
[>oheny, Tampico.
Mobile, January 12.— Arrived; Ja
neta (Br.), New Orleans; Ossining.
3ulfport.
Sailed: Hoven. Port I.obos.
Hubbard Bros. & Co.
Members New York Cotton Exchange, No#
Orleans Cotton Exchange, New York Pro
duce Exchange. Associated Members
Liverpool Cotton Association. Orders so
licited (or tho purchase and ^aie of Canon
end Cotton Seed Oil for future delivery.
Spocial attention and liberal terais given
for consignment of spot cotton cor de
livery.
SHANNON & CO.
BROKERS
Members New York end New Orleans
Cotton Exchangos
Correspondents
Post A Flagg. 38 Weil Pt-oet
New York City
WE BUY STOCKS AND
BONDS FOR CLIENTS ON
MONTHLY PAYMENT PLAN.
212-217 Empire Bid,.
Phone. Main 322 and 323
Uberty Bonds Boufbt. Sold end
Quoted
MEMPHIS TENT & AWNINGCO.
91 S. Front St., Memphis, Tenn.
(Telephone Main 2498)
jtfflfnnL'Uirw
^
Manufacturers of Hay Cover*, Hay
Capa, Wagon Paulina, all kind* can
vaa good*. Levee and Logging Con
tractor*’ Outfit* a Specialty.
Material Handling Machinery
and
Contractors’ Equipment
Each company I represent has its Engineer*. These men are Specialists,
each in his particular line. They know Successful Methods. They have
Ideas which are available to You. Mark the list below! Cut it out and
mail it to me! In return you will receive Literature promptly, and this
will be followed by a study of your Problem and a definite solution sug
gested. This is a part of my Service. May I serve you?
824-5-6 Brown-Marc Bldg,
PHONE MAIN 8974 |
Without placing ourselves under any obligation we would appreciate information on the items checked. That your
reply may reach the proper individual, please mark “For the attention el.••
KAnai/MC. tunvnt I I. innvniiiE.ni w.
Concrete Mixerg—Building: ( >, Paving ( ), Bar
Benders ( ). Carta ( ), Concrete Hoisting: and
Chuting Plant ( >, Cutters ( ), Tampers ( ),
Pneumatic Grout Mixer and placer ( ), Portable
Woodwork Mills ( ), Fertz. Mixers ( ).
THE McMYLER-INTERSTATE CO.
-Locomotive Cranes ( ), Car Dumpers ( ), Gantry
Cranes ( > Clam Shell Buckets ( ), Orange Peel
Buckets ( ). Rock Skips ( ), Bottom Dump Con
crete Buckets ( ). Barge Fueling Cranes ( ).
Scraper Buckets ( ). Railroad Piledrivers < ), Coal
and Ore Handling Plants ( ), Railroad Derrick Cars
( ). Shipbuilding Cranes ( ), Generator Seta ( ),
Lift Magnets ( ).
THE ELWELL-PARKER ELECTRIC CO.
Electric Industrial Storage Battery Trucka ( ), Crane
Trucks ( ), Electric Industrial Storage Battery Trac
tors ( ), End Dump Body Trucks ( ), Side Dump
Body Trucks ( ), Self-Loading Trucks ( ), Paper
Handling Trucks ( ).
The LOOMIS MACHINE CO. “CLIPPER” DRILLS
Blast Hole Drills ( ), Well Drills—Oil ( ), water
( ), Tools ( ).
BALL ENGINE COMPANY “ERIE” SHOVELS.
Traction Revolving Shovels—Steam ( ), Electric
( ), Caterpillar Type Revolving Shovels—steam
( ), Electric ( ), Locomotive Cranes ( ), Drag
Line Excavators ( ), Ditchers ( ).
RAILWAY AND MINE SUPPLY CO.
Roller-Bearing Trucks for Mine Cars ( ), Mine
Cara—Wood ( ). Steel ( ).
sntrAKU ubvinib cc nuij i tu.
Electric Overhead Traveling Cranes ( ), Stack
Hoists < ), Electric Single 1-Beam Cranea ( ), Jib
Cranes ( ), Floor Operated Monorail Hoists ( >,
Motor Winches ( ), Cage Operated Monorail Hoists
( ), Elevator Hoists ( ), Back Geared Motors ( ),
Double Kail Hoists ( ).
CLYDE IRON WORKS
Hoisting Engines—Steam < ), Electric ( ), Gaso
line ( ). Belt ( ), Swinging Engines ( ), Steel
Derrieks —Guy < ), Stiff Leg ( ), Barge ( ),
Wooden Derricks—Guy ( ), Stiff Leg ( ), Barge
( ), Derriek Fittings ( ), Pile Drivers ( ), Pile
Driver Hammers ( ), Material Elevators ( ),
Blocks ( ), Excavators ( ), Sheaves ( ), Traction
Cranes ( ) Cableways ( ), Wire Rope ( ),
Dredges < ).
THE GEO. HAISS MFC. CO.
Portable Belt Conveyors—Gasoline ( ), Electric
( ), Path Digging Wagon Loader—Gasoline ( )
Electric ( ).
KENNEDY-VAN SAUN MFG. A ENGR. CORP.
Rock Crushers—Jaw ( ), Gyratory ( ), Gearless
( ), Roll Hammer { ), Ball Tube Mills ( ) Ce
ment Mill Machinery ( ), Rolls ( ), Ore Reducing
Machinery ( ), Coolers ( ), Elevators ( ). Con
veyors ( ). Portable Boilers ( ). Dust Col
lectors ( ), Screens—Revolving ( ), Pulsat
ing ( ). Rotary Dryers ( ), Portable Crush
ers ( >. Pulverisers ( ), Slugger Rolls
( ), Portable Bins and Screens ( ).
NAME
Date
ADDRESS.
City
State

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