davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1910-09-05
II''HEAVY MOVEMENT
 OF CURRENCY NOTED Feature of Financial Situation
 Last Week STOCK MARKET IS DULL The Western Credit Position Is sntis- factory-Reports of Improvement
 in the Iron Market Are
 Slightly Regarded
STOCK MARKET IS DULL

New York, September 1.-The heavy movement of currency out of New York was the main feature in the financial sit uation last week Both the domestic in- terlor and Canada made heavy acquisitions on New York's holdings of cash. The remainder of the surplus is too consid- erable still to have left any actual scar city of supplies and the demand, especial ly for call loans in the stock market was . scarcely more than nominal. stiffen- inf of interest rates occurred, neverthe- less, and the rate of the outflow gave warning of future needs and had senti- mental influence on lenders.
 The rapid movement of wheat to market is an influence in the large demand for currency, and this movement promises also prompt improvement in the credit situation of the western banks. The vol ume of the cash outgo justifies the wisdom of the New York banking authorities in the building up of the seemingly un- wedly surplus. The amount of idle money thus held had begun to seem portentious and to suggest a preparation for some special weakness, known only to the well-informed bankers. Explana- tons last week served largely to clear away this supposition. It was declared that opportunity to place these idle funds in call loans would have been accepted gladly had it been offered
 The stagnation of the stock market and the normal rate for call loans provided no induo ment for the great banks. which make rule not to place loans on call at less than per cent. With the rate until last week ruling below that figure, funds were allowed to lie idle.
 Advices regarding the western credit po- sition were declared to be satisfactory, and it was denied that the automobile in- dustry offered ground for apprehension. In addition to the active demand for currency to move the grain crops now de- veloping, there remains the possibility or extra requirements to move the cotton crop. Agreement has not yet been reached with the foreign bankers usually relied on to finance the cotton movement as be- tween their demands for bank guarantees of cotton bills of lading and the Amer tcan plan of validation by the railroad companies of the bills of lading. The beginning Of the new cotton year brings the question up for immediate settlement. end its terms may have important bear ing ca the fall money markets
 The weeks stock market was greatly reelected, refecting nothing more than the perfunctory operations of professional traders.
 Reports of railroad earnings for July showed growth in operating expenses out running the increase in gross earnings and knagnified the importance attached to the rate increase question.
 The reports of improvement in the iron market were little regarded. The critical neriod of possible frost damage yet to he net by the corn and cotton crops made ar influence for hesitation.
The Birmingham age-herald., 1910-09-05
NEW CROP TAKES CENTER 0F STAGE
First Ginners' Report of Season
 Comes Thursday
SITUATION IN INTERIOR
Will Depend Very Much on Atti- tude of Farmers-Trade Is
 still Uncertain

New Orleans. September 4.-This week the American cotton futures markets will not open until Tuesday morning owing to
 Labor Day holidays. When the future
 markets do open the trade will be able to take new view of the situation as
 the old crop and all it's perplexitles and statistics will have been left behind. Also. there will be no very disturbing
 bureau reports in the way, although on
 Thursday the trade will receive ehe first ginners' report of the season.
 The ginners' report, which will be is.
 sued by the census bureau, will carry
 ginning up to September 1. 1T every one did not appreciate the extraordinary | rapidity with which the crop has been
 picked and ginned in Texas there might
 be chance for surprise in this report,
 but the movement of new cotton in Texas for weeks past has been the wonder of
 the cotton world and any weight from it has probably been fully discounted in
 the future market. The report probably
 will not tell the trade anything new It may break the record for the amount of cotton ginned up to September l.
 but many traders insist that this is im-
 possible on account of the Georgia crop | being backward.
 The principal factor that will be watched this week will be the spot situ-
 alton in the interior, particularly in Tex
 as. The course of futures will depend very much on the attitude of farmers If they continue to market their cotton as freely as they have been doing it Is probable lower future market will be seen. Traders in futures are convinced that continued free marketing of cotton will result in a heavy pressure to sell since mills have shown little interest in getting supplies for the new season. Should
 a sudden demand spring up from mills | the situation would be entirely changed. In connection with spot demand the | trade will take a great amount of in- | terest in the International meeting of
 bankers in London to discuss the cotton l bills of lading question. Not few spot people are of the opinion that the un- certainty as to the attitude of foreign | bankers toward bills of ladlng, as 1t is proposed to issue them this season, is I one of the main reasons why there Is not a better spot demand. Should any definite action result from the London
 meeting doing away with all the uncer- | tainties in this situation it would imme- l diately become clear whether buyers of spots were holding back because of the bills of lading muddle or simply because they were trying to tire spot holders out. The trade is still uncertain over the attitude of the bulls towar dthe new crop. Large purchases of September last | week by members of the clique were | taken as evidence that the campaign
 would be extended Into the new crop, Fresh evidence in this direction will be looked for this week and the position of the leading bulls will influence the position of a large following in the mar
 ket, especially among the outside ele-
 ment.
The Birmingham age-herald., 1910-09-05
AUTO RACES CLOSE
 AT INDIANAPOLIS

Indianapolis, September 4.-With the completion of tomorrow's programme the motor speedway, the curtain will be rung down on automobile racing in this city for the season.
 Nine races are scheduled, the feature events of which will be a 200-mile race open to stock cars up to 500 cubic inches, 10-mile open event and a. 50- mile free for all. Several battles royal are promised when Hearne, in the giant Benz; DePalma, In his record breaking Fiat Aitken. in the National, and other noted drivers get together in the 10 mile open event and in the 50-mie free for all.
 The pick of American stock cars are entered in the 200-mile stock chassis. and the race, 1t is expected will be an interesting one. Dawson and Hsrroun of the Marmon team, Livingstone, Ait ken, Merz and Wilcox in Nationals, and other noted drivers will contest for the 5000 prize. Six other short events will comprise the programme.
The Birmingham age-herald., 1910-09-05

Maj. F. Y. Anderson, land commits sioner for the Queen and Crescent route, left yesterday for Cincinnati, where he will remain two weeks boosting" Birmingham He stated yesterday that the Alabama exhibit was to be exploited very generally at the exposition by himself and others who have been instrumental in getting the exhibit at the Ohio Valley show. Major Anderson said that Birmingham and the district will be broadly advertised by the exhibit and that he expected great deal of good to result from it.
 'I hope to remain in Cincinnati and see what I can do for Birmingham for several days" said Major Ander- son. We expect great crowds every day at the exposition and as Birming
 ham and our exhibit occupies a prom inent place there we believe a great deal of notice will be extended to the
The Birmingham age-herald., 1910-09-05
COCAINE TENDERS
 BEHIND THE BARS

The manner in which negroes secure cocaine was in a measure explained yes- terday by the arrest of Gilbert Allen, negro, on a charge of selling cocaine The arrest was made by Deputy Dave Kennybrook and he states that Allen is a cocaine peddier. Allen has been trav- cling over the western part of the coun- ty for some time past and Sunday night Kennybrook succeeded in getting a line on him at Littleton. He traced Allen to sayre Sunday night and saw him enter den there. He states that there were 10 negroes in the den and that he watcned them for some time. Allen sold about an ounce of cocaine to the negroes and they remained in the place for several hours Sunday morning Kennybrook arrested the entire bunch on charge of va prancy. Allen was charged with violat- ing the pharmacy law or selling cocaine. when captured he had about two ounces m him and had sold one ounce.