davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1906-03-06
STOCK MARKET HAS PAID THE PENALTY Stocks are Thrown Over by
 Wholesale WEAKNESS WAS EVIDENT Current of cashsMovement Is Still To- ward the Interior-Anthracite
 outlook Characterised
 as Gloomy.
WAS EVIDENT

New York, March 5.--A penalty was maid in todays stock market for some of the excesses of the past speculation, The paying of the penalty must be the more unpalatable as coming in the midst of the frution of the expectations on which the original speculation was based. Incoming reports from all quarters sus- tained the conviction in the unparalleled level of tho country's prosperity. Never tkeless stocks were thrown over today by wholesale at heavy sacrifices and at se- were speculative losses. judged by the former shrnkage in market quotations indicated by the comparison of prices touched today with the high prices touch ed while the speculative excitement was in force
 The slump of today was a continuation of the more gradual declining tendency last week. The aeceleration of the prices in the latter stages of the movement is rot novelty in the stock market, wheth- CT the movement be either upwards or downwards. Speculative holdings, which have been retained through earlier dis couragement in the hope of a turn in the tide and an improvement in conditions, became increasingly alarmed as prices sank downward When selling becomes urgent in character the quicker decline enhances the difficulties of belated hold CTS and detracts from the disposition to buy stocks Hence 1t comes that the later stages of the decline took on an
The Birmingham age-herald., 1906-03-06

appearance of aggravated weakness. Margins are wiped out, stop loss orders uncovered, and the professional pear trader is always on the watch to take advantage of the situation and force the decline. The shrinkage in the value or collateral makes the lenders of money additionally exacting and prompts the refusal of some securities as collateral which may have been playing the largest part in market activity.
 All of the factors were at work in to- days market, but there was not mneh news of any more substantial character to account for the decline. It is to be considered, however that while current events show the fruition of many speenla- tive hopes. there have been many eXpec- tations also which have been proved to be extravagant. Growing skepticism in the fulflment of many of the runors of the past helped in the decline The failure of Saturdays market to rally on the decision of the treasury department to deposit $10, ,00000Q in national banks was a keen disappointment to the belated speculative holders who were hoping Tor a check to the decline. The opening or the week disclosed the continuance or the factors in the depletion of bank re- serves. The subtreasury continues to take funds from the New York market and interior exchanges indicate the current of the cash movement is~in that direction. Foreign exchange also became tirmer to- day in spite of a yielding of discount rates in London. Rather gloomy predictions were heard of the outlook for an anthra- cite strike and the special weakness of Reading was attributed to this cause The continued disturbance in the life insurance field was given credit for effect on sen timent although it had no immediate part in the stock market. The liquidation in Amalgamated copper was supposed to come from interests interested in the settlement of the Montana copper dispute and a cynical discussion of the possible auspices of the decline in this stock. An advance in the price of copper both here and in London had no effect on the price of the stock The market in the latter part of the day showed some evidence of the relief afforded by the liquidation and the bear traders were inclined to cov- CT their short contracts. This caused some recoveries from the days extreme declines, which ran to over points in Reading and between and points in Amalgamated copper American smelling, Northern Pacific, Great Northern pre- ferred. Colorado Euel and few others. Declines ranged very generally from to points The late rally was not well held and the closing tone was rather easy. Bonds were irregular. Total sales par value $l.S5S000.
 United States bond were all unchanged on call.
The Birmingham age-herald., 1906-03-06
COTTON TRADING IN NARROW RANGE Market was Very Active and
 Irregular OFFERINGS WERE HEAVY At First They Were We'll Absorbed By Buying of Liverpool and Europe,
 Bull Support and
 Covering.
OFFERINGS WERE HEAVY

New York, March 5-The cotton mar ket was very active today and ruled irregular within comparatively narrow range. The close was at net decline of to B points and sales were estimated at 100000 bales.
 The market opened easy at decline of to g points in response to lower cables, continued good weather in the south and predictions that the spot de mand would fall off following the big business of last month. Offerings were quite heavy, including the realizing of last weeks buyers and some selling by local bears, but were very well absorbed at first by the buying of Liverpool and Europe. bull support and covering. After the Houston estimate for tomorrow was received indicating 8 rather heavier movement tho market eased off another three or four points. but rallied in the afternoon on the continued demand from stock exchange houses and reports of a good spot demand Selling up to some 2 or points from the lowest, prices eased off again toward the close, however, and were finally within point or two Of the bottom, with the tone quiet
 Receipts at the ports today, 12,S5O bales, against 161O5 last week and 29,2Sl last year. For the week (estimatedD 90e0O bales, against 1O4.061 last week and 1G9 66I last year. Today's receipts at New Or leans, 2S12 bales, against 1O551 last year, and at Houston 37S5 bales, against 6565 last year.
 New York Cotton Futures.
 New York, March 5.-Futures opened steady and closed quiet. Quotations rang ed as follows:
 Omen I1igh ToW Close
The Birmingham age-herald., 1906-03-06
Ware c leIand's Cotton Letter.

Following the shafp advance ol satur- day. during which the larger proportion of fhe professional short interest covered their cotton. there was a deeieedly easier market this morning with large quanti- ties of cotton thrown overheard during the early trading owing to the unexpected decline in the pool and the absence or general business on tlle advance In some ways the trading was no more active than during the quiet days when prices were near the bottom last week.
 That is to say the advance failed to convince operators of radical change in the cotton position and as long as this is the case. the general public can hard ly be expected to come in on an ad- vance of half accent and buy back the cotton sold out during the slump.
 At this season of the year with warmer weather in the south and the crop prep arations getting nnder way there are many reasons for believing that Il cents for July cotton represents a snhstan- tlally high price from the standpoint Of both producer and consumer.
 The acreage this season will be one or the largest. unquestienably. on record and under these circumstances it is dK- fieult to understand just wherein the en- couragement is to be derived for bullish speculation at planting season
 If we have a backward spring and the new crop gets any kind of start there may of course. be trouble in the way of getting the new crop under way in which event shorts would be compelled at rapidly advancing prices, to cover.
 But when cotton can be produced at ' cents a pound and We have one of the largest worlds supplies on record and the acreage to be planted will soon loom up with very large figures. we are not disposed to look with great favor on cotton purchases as July gets toward Il cents The market seems to be in pc sition where any effort to sell March cot ton now would cause another slump in .i..aa
The Birmingham age-herald., 1906-03-06
Southern Railway Co.
seheduIe in Effeot Februsr Il, 1soe.

Schedule in Effect februar ii, 1906. Trains leave Birmingham as follows: GAO d. m.--No. 3S. for Atlanta, Washing ton, Baltimore, Philadelphia New York and the East. Pull man Drawing Room Sleeping Car. Birmingham to New York. Dining car. Birming- ham to Atlanta.
 6:20 a. m.-No 19 for Montevalo. Ma plesvilIe, Selma and way sta- tions.
 1923 D. m.-No. s5, for Columbus, West Point, Wnona, Greenwood and Greenville: also Sheffield ana Florence and North Ala bama points,
 $40 p. m.-No. 15, for cordova. oakman. Corona and way stations: also Blossburg.
 5:45 a. m.--No. 22 for Anniston. Heflin and way stations; also Rome. Ga. GEO D. m.-No. 36 for Atlanta, Charlotte, Richmond. Washington. New York and the East. Pullman Sleeping Car Birmingham to Richmond. Va.
 t:O5 D. m.-No. "A, Anniston. Atlanta and way stations; also for jack sonville and all Florida points also Talladega. Ma. iO;2O D. m.-No. 37, for J~fumbus. West Point, Winona, Greenwood and Greenville. Pullman Drawing Room Sleeping Car Birming- ham to Greenville. 1925 D. R.--No. 21, for Selma, Mobile and way stations. Pullman Draw ing Loom Sleeping Car Bir- mingham to Mobile. Il 80 D. m.--No. 9S. for Atlanta. Anniston and way stations. Pullman Sleeping Car. Birmingham to
 Atlanta Sleeping Car can be occupied at Union station s:a D. m. For detailed Information and sleeping ear reservations apply passenger office. Morris Hotel Building Telephone 3061 Bell and 6l7 Peoples.
 J. N. HARRISON. Dist Pass Agt. R. B. CRIcAG. Tray. Pass Agt.
The Birmingham age-herald., 1906-03-06
Fruits and Produce

Lemons--Per box, extra fancy sS.B@ 400.
 Oranges - California navel oranges, $350m375. grape fruit, $l.50M500 Apples-Northern grown. per barrel. fancy S6.0O 50-pound boxes, S275. Tomatoes-Per crate. S2 2.O0Q2.50. Limes-Per 100. t1.25
 Peanuts-FaneB5 per pound. 6e; No. ,, 5c. Sweet Potatoes-Cullman, $L75M2.00 per barrel, yellow yams. S5n90c.
 Celery-Per dozen. $l.25; per crate, sd. Cabbage-2c per pound: new crop Flor ida cabbage $2.o0m2.1 10 per crate Egg plant. si.50a2 per crate. Lettuce-New crop, per crate, s. Onions-Per pound, Pc,
 Onion Sets-Yellow. per bnshel, g; white, per bushel. S2.25.
 Potatoes-Irish S5cM$1 GO.
 Tennessee Second Crop Triumph Seed Potatoes. per bu, $l.00ml10
 Turkeys-On foot, 121s@l3c; dressed 17f 1Sc.
 Game-Rabbits per dozen, Sl,50m1 .75; quail, per dozen, S2.25m2.50.
 Eges Per dozen, fresh, 1mi5c.
 Hens-35n37c; chickens. large. 25d3oc medium, 2Od25.
 Buttcr-Fresh, 121a@15c; renovated, 23c; creamery, Sc.
The Birmingham age-herald., 1906-03-06
Local Staple Groceries.

Sugar-Granulated 5c; Y C.. 4lac. Flour-Fancy patent, s5.75; standard patent, $5 20: straight, S490.
 Coffee-Green. 11d1Sc; ArbuclSes, S15.55; Porto Rico, $t5.55.
 Meat-Dry salted ribs. Sc: dry salted rib bellies, 9c; extra clear, $40; hams, fancy, 131sc; mediums. 12lec; bacon bellies 115kc; California hams, sac.
 Lard-Leaf 9c: compound lard 61sG7c. Molasses- Centrifugal, ss3OQS5e; sugar house 40c; Georgia cane 34c.
 Beans-Navy s2.25 per busheli hand picked Lima, 7c.
 Grits--92 pounds, $L65.
 Meal-"Jim Dandy" S1.10.
 Macaroni, 7c.
The Birmingham age-herald., 1906-03-06
Daily Cotton Movement.

Ia GalvestonrSteady mddling, t094c; net receipts, 6O32; gross receipts, 6O32 sales, 212 stock, 135,416; exports. to Great Britain. 1906; to the continent, 12Gi5; coast wise 31S5.
 New Orleans-Quet; middling, 1osic; net receipts, 2S12; gross receipts, 2S12; sales, 4250; stock, 2s9573; exports to Great Britain. 720; coastwise. 800.
 Mobie-Nominal; ;niddlng, 10sses net receipts, 336; gross receipts, 336, stock, B. : 697; exports, coastwse, 50.
 Savannah-Steady; middling 101ac; net receipts 1881; gross receipts, 1881; sales, 51S; stock, 62,011; exports, coastwise, 5lS. | Charleston-Steady; middling 101bc; net receipts, 2O0 gross receipts, 200; stock % 463 exports. coastwise, B.
 gton-Steady; middling, 10lac; net receipts, 19S: gross receipts, 19S; stock, tSSs5
 Norfolk-Steady; mddling. 1O;sc; net re- ceipts, 1893; gross receipts 1893; sales, T; stock, 3o.231; exports, eoastwise, 265S.
 Baltimore-Nominal; middling, 11c gross receipts S75; stock, 12,221; exports, coast wise, 15OO
 New Yorl5-Quiet; middling. IL 2Oc; net receipts 50; gross receipts. 3354; sales 60iS stock, 193,0O2; exports, to the continent 400.
 Boston Quiet; middling 11.aoc; gross receipts 1105.
 Philadephia-Qui middling. Il 45c; net receipts. 1iS; gross receipts, 14S; stock. 233S.
 Total today at all ports-Net 12 $50 i; exports, to Great Britain, S026; to the con- tinent. 13.O4S; stock, 797, 466.
 Consolidated at all ports-Net, 25,922 exports, to Great Britain, 13.S29; to the continent. 17.1s0.
 Total since September 1 at all ports Net, 6,2S0.57S; exports, to Great Britain 2,177sG5 France 5S1 159: to the continent 1,79S 19S; Japan, 65.920; Mexico, 2f4
The Birmingham age-herald., 1906-03-06
Cash quotations were as follows: Lrln11i.-Dl1lI and weak

Cash quotations were as follows: Flour-Dull and weak
 Wheat-No. spring, 7SnS0c; No. 3, 75l4c; No. 2 red, 79s4@805sc.
 Corn-No. g. 4o@fo1sc; No. yellow, 40A @f01sc.
 oats-No. 9 297sc; No. 3 white, a@29a4c. Rye-No. 2, soc.
 Barley-Good feeding, s75a@a74c; fair to choice mating. 41@50c.
 Flax seed-No. l. $1.O719; No. 1 north western. s1 .121k.
 Timothy Seed-Primc. B .15. Mess Pork-Per barrel $15. 556i15. 60. Lard-Per 100 pounds, S7.S0 Short Ribs-Sides, loose, $S. .200s. 25. Short Clear Sides-Boxed. SS 506fS. 50. Whisky-Basis of high wines. Sl.2S Clover-Contract grade, $iSS5. On the produce exchange today the butter market was steady, creaniery 16m 271ac; dairy 1615M24c.
 Eggs-Steady. 131sc; firsts, 1312c; prime firsts, 141a; extras. 16c
 Cheese-Steady, 1l3iG113c
The Birmingham age-herald., 1906-03-06
Bonds.
Money on Call.

New York, March 5.-Money on call steady; 4as per cent; ruling rate, aAn5; closing bid, S1a; offered at ,. Time loans firm: sixty and ninety days, sac per cent; six months 5AGt5ik.
 Prime mercantile paper, 5q5% per cent; sterling exchange firm with actual busi- ness in bankers bills at $4S5. .S5G4S5 90 for demand and at $fS2. 700f4S2 I5 for sixty day bills; posted rates, s4S31s@4s7: commercial bills. $4S2l4 O 1928; bar silver 645s; Mexican dollars. 4934; government bonds steady; railroad bonds irregular.
The Birmingham age-herald., 1906-03-06
Coffee Market.

New York. March 5.-spot Rio coffee steady mild quiet. Futures opened steady at unchanged prices to decline of points, the losses being due to scat tered realizing. The news was considered about stand off early, but later Havre improved little and the local market worked up to a partial advance of points. There was\ve little demand. however, and prices eased off with the market closing steady. het unchanged. Sales, 22750 bags including March, $7.00; May. s7100715: July s7.s0; September. &. 4oaf7 .5o; December, $7.7o; January, s7.SC.
The Birmingham age-herald., 1906-03-06

can. Futures opened steady and closed barely steady American middling. g. 0. e.; March. 5.7ld: Mareh-Aprn. a.7td,= April May. 5.71d. May-Jane 5.7Gds lunezJuiy 5.79d. July August 5.Sld; -septem- ber. 5.7sd; eptember-October 5.'sd' oeto- ber-Novembee. 5.5ga Novemhef-Deeember,
The Birmingham age-herald., 1906-03-06
Naval Stores.

New Orleans. March 5.-Naval stores steady; pitch, s2.25; pine tar. s4.75; coal tar, ss.5o. Rosin, per barrel of 2so pounds A, B., C.. D., E., F., G., s4o71s; H., $4.25; l., $I55: K. s5.20; M, $5.45; N, $5.90; Wg., $6.10; Wv. s620 Turpentine firm at 69c.
 Savannah, Ga, March 5.-Turpentine firm at 6sAc; sales, 43; receipts. fl; ship ments, 159.
 Rosin firm; sales 596; receipts. 769; ship ments, AT; stock, 50,s69. Quote: A., B.. C., D., E., F., G.. s4.1o; H.. s4.25; l.. st55; K, s5.20; NJ, s5.45; N, $5.90; NVg., $61o; Wv, $6.2O.
 Charleston. s. C., March 5.-Turpentine and rosin, nothing doing.
The Birmingham age-herald., 1906-03-06
chlcaao ,chanae.

Chicago, March 5.-Rumors of a possible war in Europe and decreased estimate of the exportable surplus of wheat in Argentina were the chief factors in creat- ing a steady tone today in the local wheat market after a weak opening. At the close wheat for May delivery was off 1s@Ac. Corn was up 3sc. Oats were 1sc higher. Provisions 10 to 271ac higher.
 The Leading futures ranged as follows:
The Birmingham age-herald., 1906-03-06

trolyte sls.12isa1s5o; casting, s1s.0o@1s.25. Lead locally unchanged at s5.S5dl5.45, but declined 2s Cd to 916 in London. Spelter also lower abroad, G24 Is. Locally firm and a shade higher at S6.05@615 Iron lower abroad, standard foundry 47s lid; Cleveland warrants, ASS. Locally quiet; No 1 foundry, northern, S1S. 25d1935; No. ? foundry, northern. $17.75GlS.S5; No. foun- dry, southern, $1S.25@1S.S71a; No. ? foundry, southern, SIT. 75@1S.25.
The Birmingham age-herald., 1906-03-06
Live Stock Market.

Chicago, March -Cattle-Receipts, 2o0oO; market 10m15c higher. Common to prime steers, sS.75a6 40; cows, s31O@450; heifers s2.5005.0O; bulls, s2.40m4.35: calves. s 30Odz5O; stockers and feeders sS.00a4 75. Hogs-R Receipts, 32.000; market 10d15c higher. Choice to prime heavy, s6.45@ 6.521s medium to good heavy. $6.350I6- 45 i; butchers weights, s6,DQ6521s; good to choice heavy mixed, $6.35G6.45; packing, s6oo@6. .42i1.
 Sheep-Receipts, 1S000; market 10c high CT. Sheep, sto0M6.25; yearlings. s55oa6.25; lambs, s6.2507.1o
The Birmingham age-herald., 1906-03-06
-------sas--- --a----s------- THE LOCAL MARKETS

The price on spot cotton was unchanged yesterday from Saturdays quotations. good middling closing at 10ssc, With no receipts
 The produce market was very active all day yesterday Eggs have made an- other advance in price to IA and 15 cents. There are no Florida oranges on Morris avenue. The quotations of prices on lo- cal produce were changed very little yes ferfaN.
The Birmingham age-herald., 1906-03-06
Cotton Seed Oil.

New York. March 5.-cotton seed oil steady; prime f. O. b. mills, 2ilsa25c; do. yellow. 32d32Ac. Rosin firm, strained common to good, s4.1712. Turpentine firm. Petroleum steady.
 Memphis. March 5.-Cottonseed oil dull; prime crude, 25c; prime summer yellow, 2sc. prime meal, 24iz@2f1sc prime cake. 24c.
 New Orleans, March 5.-Cottonseed oil steady; prime refined, in barrels. Slc; prime crude, loose. 2512c.
The Birmingham age-herald., 1906-03-06
LiverpooI Cotton Market.

Liverpool. March 5.-Spot cotton, good business done prices ? points lower: American middling, fair, 42d; good mid ding, 6.0Sdi middling, 5.90d; low middiing, 5.74d: good ordinary. 5.56d; ordinary. ,. .40d
 The sales of the day were 12.00 bales
 of which LOGO were for speculation and export, and included II 300 American. Re. |ceipis. 1s.ceO bales, including 1900 Amcri.
The Birmingham age-herald., 1906-03-06
Dry Goods.

New York. March 5.-Business in the dry goods market today was slow of exc cution and restricted in volume. owing to completion of spring buying by western jobbers and the tendency of general buy CTS to operate cautiously. Manufacturers agents maintained prices stifny on leading lines in the face of the restricted bus ness
The Birmingham age-herald., 1906-03-06
New Orleans cotton Market.

New Orleans, March 5.--Spot cotton con- tinues in good demand; sales, 47O0 bales, including 1200 to arrive and 300 f. 0. b.. Quotations of ordinary to low middling re- duced 1-l6c; other grades unchanged; mid ding. 1074c
 Futures opened steady at q decline of 6 to points on unfavorable cables At the noon call prices had receded points additional, and during the afternoon eased off few points more. The trading was light. The market closed quiet at the bot tom, with net losses of 13 to 14 points
The Birmingham age-herald., 1906-03-06
Loyeman 6 co.s Market Letter.

EpNGIHdH ~ M D hdtrNSe 1Ne@~f'
 The cotton market experienced a slight setback today Liverpool was in poor form. closing barely steady at I net decline of to 6 points on futures but spots were only 2-100d lower with good demS.nd in evidence. sales amounting to 1000 bales Manchester reported good demand for cloths and yarns firm. In re- sponse to the disappointing course Of Liverpool. our market opened at de- cline of to 10 points. The tone was steady, however and the market showed an improvement, early in the day when May contracts sold as high as 10.s9. Sub sequently weakness developed in New York and was promptly reflected in the local market. prices declining under bear pressure until May contracts finally sold as low as 10.S9. Supporting orders were in evidence at the close, which was steady at a net loss for the day of - to l3 points, Spots were officially reported quiet, with quotations on middlng and grades above unchanged and l-16e lower on low middling and grades below. Sales amounted to $500 bales of spots and 12OO bales of to arrive, on the basis of 1Os4c for mlddling There were no D. o. c. today.
 The market enjoyed what might be termed a breathing spell. The bulls have no desire this early in their new cam paign to crowd the advance Consequently no strong speculative support was in evil dence during the day, and the market was allowed to take care of itself, which it should itself fully capable of doing Most of the selling done today was by dis appointed sealpers, who bought at the top on Saturday, counting on Liverpool com- ing good enough to cause advance in our market at the opening. At around 1OSO for May some good buying orders became evident and the bears, with all their hammerilng. found 1t impossible to force the market below that level The general situation showed no change.
The Birmingham age-herald., 1906-03-06
cIearInas and Exchange.

Memphis. March 5.-Bank cIearings, H.- O69. .f91; balances, s5S,072
 New Orleans, March 5.-Clearings 3D. GIG JOS. New York exchange bank, s1 per 5000 premium; commercial 25 cents dis count.
The Birmingham age-herald., 1906-03-06
Feed Stuff.

Corn--No. mixed. 62c; white, 6Sc. Oats-No. mixed, 43c; No. white, 40; white clip. 4bc.
 Pure wheat bran. 80 or 100, s23.
 Cotton seed feed meal. $26; prime, s2S.5O Corn chops, $110.
 Corn hearts, $i.15
 Shorts 100 pounds, $24.
 Hulls-s0-lb c. S., 80 ton; S0-lb. c. s.. 4oc sack 100-lb. C. S., S9 ton; 10o-lb c. S., 45c sack; 75 lb sack hulls. 35c.
 Hay-Choice timothy sl9.0O: No. timo- thy, $1s5O; Johnson grass $ll; clover mix, $l7.5O.
The Birmingham age-herald., 1906-03-06
Metal Market.

New York March 5.-London tin broke sharply, spot closing at e161 15s and fut- ures GiGl 2s Cd. Locally weak, s35.35 for spot Copper higher in London at E79 5s for spot and G1S 5s for futures. Locally firm and higher; lake, s1s.57lzQ1s'75; cleo
The Birmingham age-herald., 1906-03-06
New Orleans Cotton Fut,,res.

New Orleans, March 5.-Spot cotton closed quiet: sales 47eO. Ordinary. 75sc. good ordinary. 93-16c; low middling 10 1-16c; middlfns, 1os4c good middling Il s-1ec; middling fair. lltsc Receipts, 2S12; stock, 2s9573.
The Birmingham age-herald., 1906-03-06
Treasury Statement.

Washington. March 5.-Todays treasury balance exclusive of the gold reserve, shows: Available cash balance, $i52s957,- SIS. gold, $75, fSA271.