The farmer and mechanic. [volume], May 25, 1915, Page 14, Image 14

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

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14
COTTON IDE A
SLIGHTpi
An Early Advance Was Fol
lowed By a Sharp Re
action FIVE TO TEN POINTS' FALL
Market Closed Easy; Early
Buying Caused By Reports
of Unsettled Weather in
South; Demand Was Limi
ted and Advance Checked
Ten Cents For October
THE FARMER AND MECHANIC,
STOCKS ROSE BUT PRICE OF WHEAT
DWINDLED LATER MAKES A TUMBLE
Italy's Participation in War Crop Damage Report Caused
Advance but Italy's war
Policy Caused Fall
ONLY FOUR STATES LACK
COMPULSORY SCHOOL LAWS
Calculated To Have
Effect
N Y'.r'j. M-ty 22. Rather a sharp re-n-rl
n f?l..ved .in early advance hi the
itti iii.-trkef today and the close was
rtrir !'f a decline of 5 to 10 points.
Ufp trf tf unsettled weather in the I
S'iMi !r l illy .K'founted for part of the
e.irJjr h-iyin. The market opened nt an
dv.-tn- uf to 6 points and sold about
5 I 7 piiiu not higher sliortly after of $1,060,000.
NVw York. May-22. Judging, from the
utirse of today's stock market. Wall Street,
or at least the speculative fraternity, is
proceeding on the theory that Italy's parti
cipation in the war is calculated to shorten
thf conflict.
Thin theory is hardly to be reconciled,
however, with thf; fact that the most
striking gains of the brief session were
again made by the War specialties. Cru
cible Steel, which made a maximum gain
of 4:y points, contribute.! twenty-five per
foiif ti tho fi i-vt li-.tiiw hncinaut: The
entire list took part in the rise, which was I
... .IT. Ill I Ui ill ni i mi UII1IUIV ' I .
tor which tradiug dwindled, with some ef
fect on values.
Loudon was observing a holiday so the
local market was without guidance from
that quarter.
The statement of the president of the
I'uited States Steel Corporation that the
output of the company's plants has increas
ed to "." per cent as against 50 per cent
last January was doubtless responsible
for the strength of Ihe steel shares.
Mercantile agencies also report more fa
vorable conditions in general lines.
I.onds steady with total sales, oar value.
Washington Star.
Only four States in the Union n . v
are without compulsory school a:v- .
dance laws, according to a bu!I-,n
just issued by the United States b-js.
reau of education. They are
bama. Florida, Georgia and Mis-si s ;
pi.
While the South Carolina and T i-;
laws are not as comprehensive a;i i
trict as those of some of the in
states that have had compulsory ktw
for many years, -they are a distil, '
recognition of the compulsory prin
ciple and represent a big step forw.r.i
Chicago. III., May 22. Action by King in tne two states.
Victor Emmanuel which seemed to imply The Texas law requires all child:.-,
that Italy regarded herself as already at between the ages of eight and f , r
war made wheat prices tumble today not- teen yearg tQ attend school sixtv d ,
damage reoorts. There was an unsettled the rst year, eighty days the .see,,,,
close I,; to U under last night. vear ana one nunared days thereafter
Corn finished aro): down, oats 05f to in every school year. It provides f.,r
s uk and provision 24 to 121 cents de-1 attendance officers, fixes penalties f r
cline.
irain ami provisions closed
WHEAT
Mav 154 1 : Jul V1271;.
.-4
75.
July
July 50.
; Sept. 13.23.
Sept. lO.OO.
tH e.iii on c.ivering and local bull sup
port. I nrmness of the early stock may
li.-ive o'ltrih'ited to the advance. The de-
m.iiid w:n limited and the advance was
clic ked j ixt about ten cents for October
by .wittered realizing for over the week
end. while sellinz later became rnther
nion active on a bearish view of the visible
supply figure and private predictions for
Hearing weather in the South.
ClotPm oricM were th lowest of thr
day wlt' active months showing reactions
of .hii. II or 15 points from the best.
There ver no cables as Liverpool was
chwd tod jy and will remain closed on
Mofi .-y.
Corf. mi ft'iirs closed ea.sy:
Ooen. Ilitrh. Low. Close
9. (it ft. 05 9.51 9.51
United States coupon and registered
three advanced U per cent on call during
the week.
NKW YORK STOCK L.IST.
Sales in
OATS
May 52:
PORK
Julv is. 02;
LAUD
Julv 0.75:
iur.s
July 10.55; Sept. 10.90.
Cash grain :
wheat
no. 2 red 154.
No. 2 hard 1.54V.ti;lW.
CORN
No. 2 yellow 74-i fa75V4.
Kve nominal.
Barley 7&70.
Timothv 5.0)'fj;V25.
HKKK'S BANK STATEMENT.
.ltv.
. 2S
. 1
. 1ft
..' Z
Oct.
IMC
I 'in
Mirii
Npot itt
No Slh'S.
. !.rr 10.02 ft.ss
. 10.20 10.24 10.10
. ht.'Si 10.. 10 10.15
. Id. 54 10.55 10.4-s
middling uplands 9. SO
ft.HS
10.10
10.15
10. 3S
1
12
11
2l
0
5
5.'5
K IH. II COTTON MARKET.
UtMrt.d by Parker Rroa. and So.)
Tt-.dpt yesterday 40 bales.
I !llti lllllg
Strict middling
Middling
Low urade
9U
74
NKW ORLEANS COTTON.
A ma I. Cop.
Am. Agri. . . .
Am. Can
Am. C. and F. . .
Am. Cot. Oil . . .
Am. Smerring . .
Am. Snuff . . . .
Am. Sugar . . .
Am. Tel. and Tel.
Am. Tobacco . .
Atchison ....
At. Coast Line . .
P.alti. and Ohio .
C?inadian Pacific .
Central Leather .
Ches. and Ohio .
C. Mil. and St. P.
Erie
0neral Electric .
!t. Nor. pfd. . .
Illinois Central ...
Inter.-Met. pfd. . . t
K. Citv Sou 10
Lehigh Valley .... 6
Louis, and Nash. . 1
Liggett and Myers. 1
Lorillard Co. ...
M.. Kan. and Tex. . 3
Mis. Pacific . . .19
Mm. Petroleum . . 5(
N. Y. Central . . . .
N.Y..N.H. and II. . . 1
Nor. and West. . .
Nor. Pacific .... 1
Pennsylvania .... 7
Reading 9S
R. I. and Steel . . . . 24
It. I. and Steel pfd.. 3
Rock Island Co. . .
New York. May 22. The- statement of the
Hundreds. High. Low. Close. 1 actual couditiou of cleariug house banks
94 07 0fils 06 4 1 and trust companies for the week shows
52 that they hold S1S0.S1 4.500 reserve in ex
I cess of legal renuirements. This is an
increase of $7.0:V!0 over last week. The
statement follows:
Actual Condition.
Loans, etc.. $,4ls.024.(N. decrease $10,
Gll.CXX). Reserve in own vaults (P.) $4:,ls3.000,
increase $2,761,000.
Reserve iu Federal reserve bank $tlS,0ftl,
000. increase $757.01)0.
JUT
47
67
108
119
r-1 -.
o414
47
06
107
119
10 100 99'
105
73Vt
160
H7Vi
41
00 Vi
26V2
2 15312
2 117 Vi
105
159
40
90
25
15RV.
70
26
117
220
70
264
142
117
220
N.mv rirlans. La.. May 22. While cot
ton was steady in the early trading todnv
and went to an advance of 5 to 0 points,
It devel i(Hd weakness late in the session,
a net decline of S to 10 points on the
nio,t active months, and closed at a loss
of 4 to 7 points. It was not an active
. d on. trading being restricted to some
extent by the holidays iu Liverpool.
. .. . ... ,,i.v iu uniy was iup main 1 a t nil . , ,.f,
!iitlaen in tln earlv tradlnf nnrl tmn L,:ana .r1 -(I
huying caused by the large mill at
cited frtvorable comment. Shorts bought
rovers around the opening but when the
covering movement ended the market lack
ed vtppirt and prices dropped.
Cotton future closed: Julv 9.32: Oct.
0.61; ivc. 9.S2; Jan. 9.03; March 10.13.
spots quiet: sales 770; to arrive none.
Mi Idling 9.00.
12Vz
12
6a
105
107
144
28
BGV4
U. I. Co. pfd
COTTON HKKIt OTT.
New York, May 22. Cotton seed oil was
inl.t with price a shade higher on cov
ering of July shorts and light offerings
generally. Outside trade showed little in
terv-d. Final pri.-es unchanged to 4 points
bit: her.
Th t'n seed oil market closed steady.
S. S. S. and Iron
Southern Pae. .
Southern Ry. .
Sou. Ry. jpfd. .
Tenn. Copper . .
Texas Co. . . ,
Tex. and Pae. . .
Union Tacific .
U. S. Steel . . .
U. S. Steel pfd. . . .
Utah Copper . . ..lis
Vir., Car. Chem. . . 27
Western Union ... 0
Peth. Steel . . . . r,6
Am. Beet Sugar . . 12
5
1
4
A
as
o
1
19
2
2
11
466
5
34
31
1G
51
ot
124
16
126
55
12Vi
11
69
03
104U
107
144
28
86
13
34V
31
88
16
51
34V2
124
15 .
125
54 Yi
47
07
145
108
119
226
-99
10T
73V4
160 U
37
41
:X)
25
153 V.
117 V.
105
70
26Vi
142
117
220
169
12 Vi
12 Va
70
85 V
0o
102 V2
105
107
144
28
86U
5V2
13
violations and provides for the estab
lishment of parental or truant soh. .!-
where necessary. The law goes m
effect Septembejr 1. 1916.
The South Carolina law is option.!
but the State authorities are hop, fu
that a large proportion of the districts
will vote to have the law apph t.,
them. State Supt. Swearingen is 'urg
ing that "every local tax district cir
culate its compulsory attendance pe
tition at once, hold its election and
put every child in school during r.i".
16." Officers of the United States bureau
of education believe that the action .f
Texaxs and South Carolina in enacting
compulsory school atendance laws will
have an effect not only on the four
States still without such laws, but als,.
on States where the school attendance
laws operates only in part. Vigorous
campaigns are under way in several
States to make compulsory education
effective throughout al It he territory
of tle States and for longer periods
of atendance.
In Alabama, wrhere school problems
are receiving special atention this
year, the need for a compulsory atten
dance law as one of the most impoi-T
tant steps in progress is keenly re. ut
ilized. Present' and former State su
perintendents of education have urg-
inereVVfiiS!r ,lep'sltor5es $33'S5000' ed the enactment of a suitable law.
1 Nettemk'mi deposits $2,329.S90,000, de- State W- F- Feagin declares in
crease $ft.050.0tio. - his annual report: ''So one would
Net time deposits $131,778,000, decrease question for a moment that the State
$l.si:;,ooo.
Circulation $.17.97 1.000. increase $-3.000.
(1V of whh-h $18,105,000 in specie.
Aggregate reserve $582,769,000.
Exress reserve $180.:U4.5tjO, increase $7.-073.330.
Summary of State banks and trust corn-
has the right to compel the parent to
feed and clothe his child, and to carry
the law-breaking child to the reform
atory or the jail to protect society.
Has not the State an equal riyht t
require the parent to send his child
panics iu Greater New York not included to school in order to save him from
in clearing houae statement :
Loans, etc.. $574,120,500. decrease $2,050,
900. Specie $48,309,700, increase $2,0aS,200.
Legal tenders $9,177,200. decrease $229,400.
Total deposits $706,683,800, decrease $2,-
002,700
that reformatory or that jail and to
make him a producer rather than a.
mere consumer of the wealth of the
State? Alabama needs a form of
compulsory education which should
be as rigid and as Drogressive as our
iMuai t:aru lr.ri rr iu faun o lj.7 1 . t . - . , .,1 , 1 n 4. : n
Trust companies cash reserve in vault M01" 10 cope wlLI1 LIie
$46,576,700.
make possible."
RESERVE BANK STATEMENT.
Why Your Best Brain Work I Dou.j
When You're HI.
Washington, D. C. May 22. Gold coin
and certiticates in the hands of Federal
reserve banks increased during the past
:2? week more than $2,000,000 according to lf YOU v
1 I tue statement of their condition May 21, 1 brain work don't keep yourself too fit
88
Philip Osterman, M. D.
If you want to do your very best
66 y4
32
67
146
46
04
31
G6
142Vi
45
E1
34
124
16
125
Si
105
05 Vt
31
G6Vi
45
issued today by the Federal Reserve Board. J But1 remember, too, that the lonsr
n, snow. R-oure 1 you work when you are really ill the
Gold coin and certificates $213,376,000. greater will be the breakdown which
legal tender notes, silver certificates I 111 UbL louow
Spot O.MK-0.5O: M;iy 0. 380. 44; .Tuiie
r..l;.iV,.5o; July 6. 6260. 03; Aug. 0.78(3
O.TTl; Sept. 0.88ra6.89: Oct. 6.87fr6.90; Nov.
0.72.'i?6.Nl); I,h 6.73rrG.7T.
Total sales 4,700 barrels.
NEW YORK TROVI8IONS.
N'w York. May 22. Hutter firm.
ClieHe we:ik.
Spolt coffe piiet: Uio No. 7, 7,rc; f?an
to No. 4.
NAVAL STORKS.
ftir.inn.iti. Ga.. May 22. Turpentine firm
S.w:wvi; hhIch 151; receipts G08; shipmeutu
l.:W7; st.K k 21.917.
UhIu firm; sales 852; receipts 1,540;
hiiuiliU 3.713: stock 55.7R4.
li-jote: A. P. 272V. ; C. D 282 Vj; K 2.95; porta W2.
r .i.v,: .s.iw: n i.riVi: 1 3.1.1; k 3.35;
M 4.(i; N 5.0O ; WO 5.35; WW 5.50.
Total sales for the day 370,100 shares
DAILY COTTON TABLE.
Port Movement.
New Orleans: Middling 9.00; receipts 3,
459 : sales 770 ; stock 283,105.
Galveston: Middling 9.10; receipts 4,
190; exports 26.548; sales 1,100; stock 291,
723. Mobile: Middling 8.75; receipts 52; ex
ports 100: stock 23.679.
Savannah: Middling 9.25; receipts 1,
4'95; exports 11,054; sales 447; stock 96,
990. Charleston: Middling 9.00; receipts 1,
014: stock 63,750.
Wilmington: Receipts 536; stock 53.812.
Norfolk: Middling 9.13; receipts 206;
sales 173; stock 03.201.
Baltimore: Middling 9; stock 1,844.
Boston: Middling 9.75: receints201 ? er-
- y x
and subsidiary coin $36,832,000.
Total $280,208,000.
Bills discounted and loans:
Maturities within 30 days$13.839,000.
Maturities within 00 days $12,402,000.
Other $8,325,000.
Total $34,626,000.
Investment $29,342,000.
Due from other Federal reserve banks
Items in transit $6,050,000.
All other resources $11,648,000.
Total resources $362,474,000.
Liabilities.
Capital paid in $54135,000.
Iieserve deposits $295,038,000
It is generally considered that a
man who is physically fit necessarily
does better brain work than a man
who is slightly off color. This is b
no means the case, for under certain
circumstances a man who is not physi
cally fit is capable of better work than
a man in the best of health. f
course, I am not referring to casn
of serious illness, but to cases wh'-u
a man is "seedy," out of sorts or possi
bly sickening for some illness.
It us siinnnsp thnt v -man H
ia circulation (net slightly feverish. Now, fever invari
All i othiV liiwHuS-$2.42.000. hastens all the processes of th
Total liabilities $362,474,000. numa.ii uouy. r or example, u w '
Gold reserve against net liabilities 81.3 duces an increased flow of ideas. In
per cent. the case of a novelist or a man who.-"
Cash reserve against net liabilities 93.7 work requires wild imanination such
Cnsh WrvA noin ii,hi!!Hao nn. a state of mind would naturally b
vaiuauit; up iu x. puim.
, But an increase of fever beyond
that point does not imply an increa
of ideas at least coherent ideas. 15
is this vast profusion of ideas duo
to increasing fever that finally pro
duces delirium.
But the chief cause of a man doing
ill is tho
setung asioe w per cent goia reserve
against net amount of Federal reserve
notes In circulation 95.6 per cent.
I.I.CIN BUTTEK.
Fdsin. III.. Hay 22. Butter
centn
firm, 28
WKKKLY DRY GOODS.
New York. May 22. Primary cotton
rmU markets are recovering and there i
nu IncreaHing willingness to buy some of
the convertibles ofTered at prices that are
from , ceut to cent below the prices
ruling thU year. The demand for cotton
duck and khaki drilla for export contin
ues steady and there is a steady and
broadening demand for many cotton goods
fur commercial needs in countries not at
wir. Prices on finished goods have held
very steady despite the weakening in un
finished cloths. The Jobbers are doing a
steady h-use trade in wash goods. Color
ed cotton are growing firmer. Southern
staple ginghams have been advanced an-
otherquarter of a cent a yard and heavy
colored goods are very nrm.
Price auoted are as follows:
Print clatliB, 28-inch, (U by 64s 3V cents;
CI by 00. 3V cents; 38-lnch 64 by 64s
4 ceuts; brown bheetings. Southern
Btndrds. 6V4 cents; denims. 9-ounce, 13
cent; tickings, 8-ounce, 11 cents; stand
ard prints K cents; staple gingham 6V
ceot; drefw gingham 9'cents.
WESTERN LIVE STOCK.
Chicago, May 22. Hogs weak; bulk
7.Ji57.70; light 7.40(7.75; mixed 7.3T
PhiladelrfTTia r Mir1rUfn 1rtAT- aTnm-fa I nio n cr-
rt a v . , I kk&.- J . . .
a); Stocs 4.96H. I Cattle sfp.ide- nnHvo Iwvof a ctfiTrt I better wnrl,- whon he is
New York: Middling 9.80; receipts 212:I9.2Ti:
stock J51.207. berfera .t.&i&S.TO; calces O.M)fi;9.50. on such orcasions When a mar.
4lnZVU Wtt! eIPrt3 T.08.10: tornh, 7.710.K. exceeding he thinks e?erythin.
Total today: Receipts 18,813; exports mt airv rruiEii'v'i. mi vt else in the world is all right. H,J
4T..r62: stock 1.1.T7.7RR. it LUAUlhNtLHLAT. foltt that ouPVthirur cr.Ytn? on e-
Interior Movement. I Fer(isoi Rwirk tw.;k t- cellently. He does not do quite his
nouston: Middling 9.15; receipts 1. rties Hesin Tonight Or. Joyner . . - . three.nuarters as
- . l a. . . n.-f . m irw . i I 111 a li4 LT . 1
4; suipmeius saies . 8tWk au.- (g t(j - "i n,., hard as he can.
v t-t. I
Memphis: Middling 9.12; receipts 4S9; Mount Airy, Mav 22. The firaA
shipments 71C: sales 2T)0; stock 119,706. I School commencement will bein 'inn.
y Rev.
Sad Indeed.
Augusta: Middling 9.13; receipts 140; day with the annual ermnn k,
shipments 420; sales 107; stock 105,370. G. T. Rowe. of High pSCTt 3
St. Louis: Middling 9; receipts 1.- wnA,. o7u" . ..
j , uiu, win ie cne exer-
458: shipments 1,106: stock 29,404
Cincinnati
632
Little
shi
nauas: Miaaung .; saies nff
l ocal toaay : ueceipig o,o; snipmencs
5,244; stock 388,785.
New York Cvening Post.
A Boston school teacher bad rad
her
: o r-v:i . . . nru , .
iwcv-triifis O.Ot . auiMiucuis . - v v i j y OLHJlCLV. tn I
; stock 25,259. tne 27th the graduating 0 pupils, and at the close of her reading
Rock: Middling 9.00; receipts 30; take place. Fridav ?th SDoke of the sorrowful significance r
pmeLta 272 : sales 272 ; stock 18,912- in deplamntinn oU tVlo ,npHa ilJt mio,u. v, ,,-,, v.pon She
recitaHfnc -rv--i c.t
The annual address hv ri r v
Joyner promises to be one o the' best
features.
c - . ,
NEW YORK MONEY. superintendent Turlintrtrtn ia a.r.
I tirint? WnrlriiP . . J t i -'i..
j . i-i.n'- iii'v 1 c .v , auu Litt; enure prosnni
3V:L willpe something; of rai mr,t
Sterling exchange firm; sixty day bills Kvangelist W M Wr.ir r J v i
4.75.50; for cables 4.78.85; for demand vUle Ten iTaif V.Nash"
4.78.25.' Yi"!; cA!""- ,l::;is ng huH father on
V "'-c. -riis city. Mrs. Holcomb.
asked the boys and girls if they con 11
think of any four sadder words. OnH
alert youngster of a dozen years held
up his hand and .said:
"I know two sadder words."
"What are they." asked the teacher.
" 'Please remit.' "
Har silver 49.
Mexican dollars 38.
Government bonds steady.
Railroad bonds steady.
i ;i aaugnter of the late Rev.
Jones.
Kvangelist.
accompanied the
An almost automatic device h:s
been invented to be attached to a .'-aw
handle to blow the dust out oi th
path of a saw as it is being operated.