The farmer and mechanic. [volume], May 04, 1915, Page 14, Image 14

About The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??

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THE FARMER AND MECHANIC.
1
J.
RATHER SEVERE
DROP
n cotton
STOCKS FOR MOST 1EATI1ET
PART IRE LOWER
SCORES
AOWlit
Liauidation On a Large
Sends Prices of Staple
Down
11 TO 19 POINTS LOWER
One Leading Spot House Was
Credited With Sales of Over
15,000 Bales of October,
While Liquidation of Outside
Accounts Was Quite Heavy:
Aggressive Selling
New York. May 1. Liquidation on a
larger sr-ale thau at any previous time
this week caused a rather sevtre de
cline In cotton today and prices, the low
t nt the Kession. showed a net loss of
11 to 19 points. This was a drop of abont
45 points from the recent high levels.
One leading spot house was credited with
Hales of over 15,(X)0 bales of October, while
liquidation of outside accounts w.s quite
heavy, lesides which aggressive selling by
local traders who have been conspicuous
on the bear side most of the week, was
a prominent feature.
There seemed to be an almost entire
absence of outside supporting orders.
Continuation of unsettled weather in the
western belt and of fair weather east of
the Mississippi appeared to exert little
helping Influence and there was some
significant selling from interests in South
Atlantic States. Hulls also had to con
tend with the smaller print cloth sales
at Fall River and with private Man
chester cables, reporting n poor demand
for yarns with prices weakening and a
further curtailment likely. Liverpool was
also affected and came a couple of points
lower than due. It is announced that
trading in May contracts will cease at
12 o'clock noon on May 21.
Cotton futures closed easy
Scale United States Steel Only One of Cereal Rises Notwithstanding
The Speculative Favorites to
Show Relative- Steadiness.
Bond Even More Irregular
NEW ENTERPRISES
s OF THE PAST WEEK
Among the many South;
trial and other development
prises reported in last wevk
the Manufacturers Record
lowing:
uonsonaation Coal Co
a;
he De iveries un may oun- r;4;1? cTraftsloc,'!";:
1 ... , -T-, foot shafts, lined with , cr
traCtS PrOVed Heavier I Han Carolina and Ida May min...
, , j r a. Hellen Tlun development v.-xT
Looked For; Corn and Oats mgton, w. va.; company wih
, 1 o.uuu acres oi coal land
Also bain
York, May 1 In its main aspects
or tne siock. r-A.-
repetition of recent
a very considerable
was aeain in so-
allied shares. Wes
in the class con-
thp most nrominent features, ai-
thev failed to make new high
New
todav'n short session
change was largely a
days in the sense that
part of the turnover
called war stocks and
tinghouse and others
stituted
though
records and, In fact, reflected selling ror
profits at the end. SHudebaker was
strongest of the motor group with a new
high record on rumors of dividend pros
pects. Standard stocks were more or less
neglected throughout and for the most
part fell under yesterday's lowest quota
tions, though showing some betterment
at the slose. United States Steel was the
onlv one of the speculative favorites to
show relative steadiness, rising to its
best in the final dealings. General news
of the day which dealt with improved
conditions with latest war developments
played little if any part in tne aay s
operations.
The bank statement was in line with
expectations, showing a large cash gain
with an expansion of over $300,000,000 In
loans.
The bond market was even more ir
regular than the stock list, on a mini
mum of trading. Total sales par value
$2,2T.0,0OO.
United States coupon and registered 2s
and Panama 3's declared quarter per cent
on call during the week.
NEW YORK STOCK L.IST.
Sales in
Hundreds High. Low. Close.
Chicago, May 1. Although deliveries on
vrnv pontrncts nroved heavier than looked
for thp. wheat market today scored
advance, helped by
deliveries went into
that stocks promised
Kained cents to vs
to 1 '& 1 cent
cents to fifteen cents,
ions closing:
WHEAT
May 1.62; July 1.37
LIGHT
May 77; July 80.
OATS
an
the fact that tne
strong hands and
a falling off. Corn
1 cent net. oats ,
and porvisions five
Grain and provis-
1
July So.lll.t
September 1S70.
May
roiiK
July 18.23
LAUD. .
July 10.42; September 10.65
Jnly 10.67: September 10.95
CASH GRAIN
Wheat : No. 2 red 1.63
1.C4 y.
Corn, No. 2 yellow 78 794-
V.
No. 2 hard
LIVERPOOL COTTON
Liverpool, May 1. Cotton spot steady.
Good middling 0.01; middling 5.65; low
middling 5.21. Sales 5,000; speculation
and export 1,000. Receipts SL0O0.
Futures quiet; May-June 5.54; June
July 5.62; July and August 5.6OV2; October-November
5.87: January-February
5.94; March-April 6.60.
v:
Amalga Copper
Anieri. Agricul.
American Can
.199 77 75
Amer.
Anieri.
Ameri.
Ameri.
Ameri.
Amer.
Ameri.
.174
May . . .
July
October .
December
January
Open
.10.04
.10.29
.10.60
.10.76
.10.76
nigh
0.98
10.29
10.00
10.76
10.76
Low
0.93
10.13
10.47
10.65
10.70
Spot: Cotton
10.40. No sales.
quiet ; middling
Close
9.8S
10.13
10.46
10.65
10.69
uplands
RALEIGH COTTON MARKET.
(Reported by Parker Bros and
Receipts yesterday 48 bales.
Good middling
Strict middling
Middling
Co.)
11-16
5-8
3-8
10
3
6
o
22
.. 39
..107
..14
P. 11
,.. 77
.. 40
3
17
19
19
Low grades 6 1-2 to 8
NEW ORLEANS COTTON.
New Orleans, La., May 1. Selling prus
sare based on relief of the drought in the
eastern and central portions of the belt
forced the price to cotton to lower levels
today. Opening prices were very nearly
the highest while the close was at the
lowest, a loss of 16 points. While a part
of the selling waa for short account,
there was much liquidation in evidence.
Liverpool was lower than due. Private
cables messages from that market gave
a pessimistic view of business conditions
on the Manchester cloth and yarn mar
ket. The absence of further rains in Texas
is considered most encouraging In con
nection with the western crop and led
to more or less selling. Bulls offered
little or no support at any time.
Cotton futures closing:
May 9.62; July 9.95; October 10.20;
December 10.36; January 10.44. Spot cot
ton quiet; six points down. Middling
9.37; sales on the spot 850 bales; to ar
rive none.
COTTON SEED OIL.
New York, May L Cotton seed oil was
inactive today, but prices were steadier
on scattered covering and a general ab
sence of selling pressure, closing four to
five points net higher.
The market closed firm. Spot 6.60 bid.
May 6.C2 & C.65; June 6.80 6.82; July
6.94 6.95; August 7.10 7.11; Septem
ber 7.20 Ot 7.21; October 7.24 & 7.26; No
vember 7.00 tf? 7.10; December 6.99 7.02.
Total sales 2,400.
WESTERN LIVE STOCK.
Chicago, 111., May 1. nogs -weak, most
ly five cents lower; bulk 5.75 7.70; light
Car and F
Cotton Oil .
Smelting . .
Snuff
Sugar .
Tel and Tel
Tobacco . . ,
Atchison ,
Atlan. Coast Line
Balti. and Ohio..
Canadian Pacific .
Central Leather
Ches. and Ohio....
Chi., Mil and S. P.
Thrift
General Electric . .
Great North, pfd..
Illinois Central . . .
Inter- Met. Pfd
Kansas City Sou..
Leheigh Valley . . .
Louis, and Nash.. ..
Liggett and Myers . .
Lorillard Co
Mis., Kan. and Tex 11
Missouri Pacific .. 90
Mex. Petroleum .. 97
New York Central. 23
N.Y., N.H. a. Hart 12
Nerfolk and West. 4
Northern Pacific . 9
Pennsylvania . . . . 12
Heading 107
Rep. Iron and St.. 36
Rep. I. and S.,pfd
Rock Island Co...
Rock Island, pfd..
St. L. a. S. P. 2pd
Seaboard Air Line
Seaboard A. L. pfd
Sloss. Shef. St.a. I.
Southern Pacific . .
Southern Railway.
South. Rail., pfd..
Tennessee Copper.
Texas Co
Texas and Pacific. 2
Union Pacific 78
Unit. States Steel .611
Unit. Stat. St. pfd. 3
Utah Copper 164
Vir.- Car. Chem... 33
Western Union ... 10
Beth. Steel 19
Amn. Beet Sugar. 19
Total sales for the
44
58
52
73
112
122
236
102
112
77
166
41
47
96
28
162
121
72U
26
143
7S
42 V2
mv2
51
72
iii"
122
236
102
112
77
164
3
45
95
28
159
120
7i
26
143
2
16
15
13
15
15
88
67
105
110
109
151
31
88
76
57
43
57
51
73
153
111
122
236
102
112
77
165
40
46
95
2S
160
120.
110
72
26
143
120
220
172
13
15
13
14
qi kddy
87
66
105
109
108
159
30
88
PEDERAX RESERVE BANK.
Washington, May 1. The Federal Re
serve Bank Statement for the week end
ing April 30 shows little change. It fol
lows :
Resources.
Gold coin and certificates $238,22S,G00.
legal tender notes for the week ar-
subsidiary coin $26,518,000. Total $264,
746,000. Bills discounted and loans: Ma
turities within 30 days $16,738,000. Ma
turities within 60 days, $12,058,000. Other
$7,790,000. Total $36,586,000. Invest
ments $25,489,000. Due from other fed
eral reserve banks: Items in transit $9,
460.999J Other resoarces 11,334,000.
Total resources $347,603,000. Liabilities:
Capital paid in $39,69,000. Reserve de
posits $294,832,000. Federal reserve notes
in circulation (net liabilities) $11,038,000.
All other liabilities $2,064,000. Total lia
bilities $347,603,000. Gold reserve against
net liabilities 80.4 per cent. Cash reserve
against net liabilities 89.3 per cent. Cash
reserve against liabilities after setting
aside 40 per cent, gold reserve against
net amount of Federal Heserve notes in
circulation 91.2 per cent.
'rials
receipts 3,800;
stock 1387,699.
receipts 250;
5 39 39
1 38 38
17 93 92
13 18 18
2 58 58
11 34 34
16
132
59
110
69
33
69
145
16
131
58
109
67
32
68
139
49
day 559,300 shares.
DAILY COTTON TABLE
Port Movement.
New Orleans: Middling 9.37; receipts
926; exports 9,850; sales 850; stock 326,-
Galveston: Middling 9.90;
exports 12,471; sales 1,150;
Mobile: Middling 9.25;
sales 175; stock 24.640.
Savannah: Middling 9.63; receipts 2,624;
exports 1,139 ; sales 905; stock 118,987.
Charlestons -Middling 9; receipts 401;
stock 65,051.
Wilmington: Middling 9; receipts 086;
Texas City: Sales 444.
Norfolk: Middling 9.63; receipts 924:
stock 69,282. '
Baltimore: Middling 9;
Boston: Middling 10.50:
exports 50; stock 1300.
Philadelphia : Middling
725.
New York: Middling 10.40:
857; stock 202.928.
Total today: Receipts 13,635
36,292; stock 1,352,169. ' '
stock 5,481.
receipts 1146;
10.65; stock 4,
exports 3,-
trict, constructing two
witn a daily capacity of , . ..
reported expenditure $2.500.
R. E. Lee and Jas. A. .1.,
rinburgr. N. C, plan to coiwii-000-spindle
mill for pn.d';,
yarns from low grade cot'.--mated
cost $200,000.
Maryland-Carolina T.un.i
Winton, N. C, was incorpor a;
capital stock of $120,000 t0 m
ture lumber, etc.
Blue Diamond Coal Co.. Kr
icuu., who incorporated wnb ,
stock of $100,000; controls e,.,'
erties in Kentucky and TYr.n-"v
Huntington Acid Co.. Hui.t
"W. Ya., was incorporated
tal stock of $100,000 to man ,u
acid.
Blue Grass Coal Corporate::
tol, Va., was incorporated v.iih
tal stock of $100,000 to dev. ,;
mines.
Louisiana Fibre Board Co..
lusa, La., will install add in ..n;,
chinery in paper mill at cost .,f
000.
Parkersburg Electric Co., :,
burg, W. Va., was incorporate:
capital stock of $100,000 to .;
electric plant.
Huntington Alley Co., Hi;i;n
W. Va., was incorporated with
stock of $100,000; will build pi
cost $25,000 for the manuf.ut'
n j, j. ,
tuioys ana rerractory maio
ducing ores, etc.
Port Commissioners, New rl.
La., let contract at $194.run
struct 2,000 foot wharf and ir
approach.
Gulf Refining Co.. Pittsburg. Pa..
repurieu 10 ouuu plant at . Iiarlutt
N. C. buildings to include onc-Ptuty
pumphouse, three steel storae- tanks.
10 by 25 feet; two-story stable. nn -story
warehouse, onestory waci.-i.
shd; foundations for "building ar. 1
tank walls to be of reinforced eon
crete; estimated cost $50,000.
Baton Rouge Electric Co., r.;it.a
Rouge, La., will build $20 0.0 Oh p..'Avr
plant to replace present elect rie sta
tion. Producers' Refinery Co., Gainesville
Teicas, organized with capital stork of
$60,000; will build 10-000-banvl nil
refinery and construct pipe lin- t
Gainesville, securing oil supply from
Ardmore (Okla.) field.
Andrews Paper Box Co.. Chatta
nooga, Tenn., will build 3 -story. SO I?
80-foot addition and equip for manu
facture of trunks, daily capacity f
200; will also build 3-story office
building; total cost $30,000.
Ino Lead & Zinc Co., Joplin. M
was incorporated with capital st k
of $50,000 to develop lead and zir.i
deposits.
Southern Power Co., Charlotte N'
C, will build transformer static, at
Statesville, N. C, to cost $50,0u0.
Alabama Decorative Ston- ('' .
Childersburg, Ala., organized with
capital stock of $360,000; com par.?
owns 80 acres of land reported to ob
tain large quantities of or.x nal
onyx-marble which it will develop; ir-
;t il
f
ans.
finishing u 1
exports
.O w i-.bffw
75; pifrs 5.25
Cattle, steady.
8.75; Western
and heifers 3.10
8.75.
uo! now is the timer
7.00.
Native beef steers 6.15
steers 5.00 7.40; cows
8.50; calves 6.00
Sheep, steady. Sheep,
lambs 8.10 ( 10.75.
7.40
8.40;
NEW YORK DRY GOODS.
New York, May 1. Cotton goods and
yarns were firm today. Linens were firm
but demand moderate. Burlaps were
scarce and higher, knit Roods more ac
tive and dress goods and men's linens
quiet.
NEW YORK MONEY.
New York, May 1. Mercantile paper 3
3.
Sterlinpr exchange easier; sixty day
bills $4.7fi50; for cables $4.7000; for de
mand $1.7920.
Bar silver 50. Mexican dollars 3S.
Government bonds steady, railroad
bonds irregular.
NAY Ali STORES.
Savannah, Ga., May 1. Turpentine firm
45; sales 252; receipts 421; shipments
031; stocks 20,161.
Rosin firm; sales none; receipts 1,245;
shipments 2,951; stocks 754568.
Quote: I. 3.30; D. 3.40; E. 3.45; P. 3.55;
G. 3.65; n. and I. 3.75; K. 3.85 85; M.
4.20 4.45; N. 5.15; Wg. 5.65 70; Ww.
5.80.
NEW YORK WEEKLY DRY GOODS.
New York, May 1. Cotton goods mar
kets have held "steady throughout the
week. Prices are rising on those lines
that did not follow the sharp advance in
print cloths and convertibles a couple of
weeks ago. Colored goods are firmer and
fine cambrics and nainsooks are up 4
cent yard from last week.
The volume of business on the medium
and fine qualities of bleached cottons has
been the largest for some years and wide
sheetings, pillow tubings, and other sta
ple domestics are in a well sold position.
Prints and percales are more quiet after
large sales for future delivery. Ging
hams .are in demand for late delivery at
current prices and mills are declining the
dyestuffs supplies. Blue denims are grow
ing very scarce in first and second hands.
Discounts have been shortened on duck
and sales are steadier "for export and for
home use. Inquiries and sales have been
active this week for cotton goods to re
place burlaps, sales of 4.25 yard sheet
ings and 3.50 osnaburgs in 40-inch widths
has been substantial. Wash goods and
white goods for immediate shipment are
in better demand.
There has been a steady increase in
the Tolume of fancy goods business of
fered to mills for spring 1916 delivery.
Manufacturers are generally believers in
higher priced cotton and they are un
willing to sell late contracts unless a
higher level of prices is reached.
Prices quoted:
Print cloths 28 inch 64x64s, 3U cents;
64x60's, 3 cents, 38V inch C4xft4's, 4
cents; brown sheetings, southern stan
dards 6 cents; denims, 9 ounce. 13 cents
ticking, 8 ounce, 12 cents; Prints flee
cents; staple ginghams 6Vi cents; dress
ginghams 9V4 cents.
Interior Movement.
Houston: Middling 9.85; receints 1 Rf
XAq ' 1 oareB , StOCK
122,-
Meraphis: Middling 9.50; receipts 12.16
shipments 3,041; sales 1,000; rtbS l44W
Augusta: Middling 9.63; receipteiM
shipments 341; sales 341 rnfrPSo451'
,Vl -"wuia. lmumuig y ; receints
shipments 1,904; stock 3?939 P
Cincinnati- Keceipts 6357:
729; stock 19.225. '
Little Rock: Middling 9.25; receints 77
fclA26' al. 426; stock W26. '
. wu AAtUMi . rii 1 iiriiurtri?
1,815; stock 485193. " '
2,038;
shipments
8,794; sales
NEW YORK PROVISIONS.
New York, May .1. Raw sugar steady
molasses 4.06; centrifugal 4.64; refined
Butter and chees firm. Spot cntr
cents.
WEEK'S BANK STATEMENT.
H?eW To,rk' May I- The statement of
banksaCtaUud S?00 f -cleng house
The statement follows:
Actual Condition.
Loans, etc.. $2,430,593,000, increase $30-
Federai tm baS Smhi o2f ."T
$30,238,000; decrease $1.44Rftnn PKrori
794n0O0deP?:ltS increase $
. $65,000. (B.) of which
,.14. T casn
rtUll J.U.Sl.'i.llMI erf
stall band saws, derricks,
polishing: plant, etc.
Moulton Stone Co.. Richmr.r 1
was incorporated with capitai ?'(
$25,000 to develop stone qaarri--
Xiynchburg: Traction & Light
Lynchburg, Va., authorized exp
ture of $85,000 to rehabilitate em
power wire systems; will alsu ' :
Blackwater street station aiv'.
plant.
Hay Furniture Polish Co.. K
N. C, was incorporated viib r -stock
of $25,000 to nianuf
furniture polish.
Merck-Uetrick Manu f ac t u r i : : -r
Gainesville, Ga., organized wii
tal stock of $10,000 and will
maenmery ior tne aauy pru'i u -100
dozen pairs knit hose.
Eastern Carolina Power v
Co., Spring Hope, X. C. was i'
rated with capital stock of ST"
establish electric plant.
Tulsa Asphalt & Mining Co
Okla., was incorporated with
capital stock to develop asph-v
posits.
Producers' Refining Co.. r
ville, Texas, will be organize
$600,000 capital stock to bull ;
line from Healdton oil tit-:
Gainesville and construct 10." I!
rel oil refinery.
Texas Power & Light Co.. i
Texas, will build electric light j
Palestine, Texas, to cost $10.' '
Richmond Strip Co., Richm-T.
was incorporated with $2 5.0 00 e
stock to manufacture sash, doo:
blinds.
1:-
reserve in vault $45,739,600.
reserve m
companies cash
10
. EXGIN BUTTER
Elgin 111., May l.-Butter
tubs sold at 28 cents.
r.ROTHER ACCIDEXTALI'
covered root cures tobacco
and indigestion. Gladly sen'
ticulars. T. E. Stokes, M
lower; 100 j Florida.
4-27 2t.
1)1-