davidaulloa/AmericanStories huggingface dataset:
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
IRON AND STEEL REVIEW

New York. July 23.-Again there
was considerable activity last week in
the placing OF contracts for fabricated
structural steel to be used in build
ings and bridges. The principal con-
tracts included $500 tons for the First
National Bank Building at Richmond
va. and 5000 tons for the Chicago Tel.
ephone Building. Railroad bridge con-
tracts were larger In number and in
tonnage. including 10000 tons for the
santa Fe The total railroad orders
called for little over $1,000 tons. and
building contracts for about 10000 tons
OF steel shapes. Tenders will be re-
ceived on Monday on 5000 tons for
the Kansas City Railway terminal.
Domestic RAILROADS still withheld
contracts for equipment. car and loco
motive orders being insignificant and
ran contracts aggregating only about
$4,000 tons. 1t is claimed, bowey1r.
tnat the Chicago mills will roll 80. 900
tons for Canadian lines and that sew
erai other export orders are under
negotiation for South America. the
west Indies and Canada. II is nota-
Die that the demand for finished steel
products generally in the interna tional
market is increasing and at higher
prices.
There was more activity In steel
making Iron in the Central West.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
OPERATORS CERTAIN
OF WIDE REACTION

New Orleans. La. July 23.-This week
the cotton market will probably settle
down into more normal state. Fol-
lowing the liquidation of last week,
there was a great uncertainty, and
little attention was paid to anything
but the artificial features OF the situ.
alton. The rst thing that operators
oil prominence Will attempt 10 settle
THIS week is the veXed question of re-
action. Altar any decline like that OF
last week IL is but natural to expect
a wide reaction, and therefore those
who trade this week will have to watch
closely to catch the turns in the stu
alton.
Some bears claim there viii be no
reaction and that the crop situation Is
good enough to warrant a decline to
the ll-cent level for the new crop
without 1t. Probably the weather will
decide the reaction question. ANY
little unfavorable turn in the news
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
SENSATIONAL RECORD
FOR VIOLENT DECLINE
Break in Cotton Market Carries Prices to Low
est Level Of the Year-Sentiment Now
Is Decidedly Bearish

New York. July 2s-The weakness
the cotton market displayed a week
ago in the liquidation of heavy specu-
lative holdings developed into such a
heavy general movement at the open
ing of this week that 1t made sensa-
tional recofd for a continuous violent
decline. These conditions. however.
seemed to cumulate just before the
close OF the market on Thursday. But
this was not until after the general op-
ton list had shown declines ranging
from 100 points on July contracts to
151 on August and TO between IS and
81 points for all the later months or
new cron deliveries from last Satur
days closing quotations. This Is
equivalent TO a loss of between s. and
$3.50 per bale for the July and August
contracts, and about $3.50 for the new
crop months. AS compared with the
seasons high record prices OF IS Is
cents for July. reached about May 10,
that month shows an extreme loss Of
813 points. or sl5e5 per bale. The
as much. and all the later months.
from September to next March del!v-
cries. OF about 2 cents per pound. or
SO per bale.
Extreme OF Denrirh Sentiment.
The decline was checked yesterday
cnleiiy ~ active covering OF SnortS TO
secure profits and the development OF
a heavy trade demand. The market
then rallied 20 to 10 points from the
lowest during the day. but receded n
little Just before the close from these
improved prices on renewed Southern
selling and fresh large speculative
short selling in anticipation of e
further decline. Where bullish senu-
rnent predom!nated UP 10 a fortnight
ago. there has been such a complete
revuision Of feeling among the gen
crafty OF operators that hardly Z bull
Is now left. Sentiment Is SO bearish
at present the tendency is now as un-
m.stakable to overseu the market ana
unduly depress prices as 1t was to ad-
vance them too much during the bull
ish activity OF month or two ago for
the old crop options. and during the
crop scare on the new crop months last
month. Liquidation has been SO dras-
tic, especially during the excited trad
ing and severe decline OF the last week
that most OF the bull accounts have
now been closed out and heavy short
interest has been created in their place
In the new crop months. The cotton
thus sold has been largely Dough; N
by the shorts among the old bear elc-
ment in securing profits, and by spot
dealers taking off their hedge So les
and buying for long account at the
much more attractive prizes. There
have also been heavy purchases by va
r!cus trade interests as a Protection
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24

affected caused a radical readiustment
of views as TO the size of the crop.
The violent fall in the price of cotton
was aggravated by extensive specula-
tive commitments on the long side.
The cut in the price of muslins was an
example of the bearing of the crop
position in the textile Industry
The grain crops were benefited by
the rains of the week. but misgivings
over the outcome were not dissipated
so thoroughly as in the case of cotton.
Reports of damage to both corn and
spring wheat required toward the close
of the week.
The quick variations in the New
York City subway situation were an
influence in unsettling financial senti-
ment, and We're responsible for fluc-
tuations in the stock market when ne
gotiations were closing.
Interest rates fluctuated but slight
~. but the freedom of booking of ac-
commodationa was affected by the
heavy Withdrawals OF cash by the gov
ernment In payments for the Panama
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
GENERALLY WEAKER
TENDENCY IN WHEAT
Market Feverish and Unsettled Primary Re-
ceipts Heavy and Their More Favorable
Large knot Trade at Decline.

New YORK, July 23.-CoHsequentu upon
the numerous conflicting influences pre-
va!ling, marked teverishness and un-
settlement featured the operations in
domestic wheat markets early in the
week. But, all things considered, the
net changes were somewhat unimpor
tant. Prices held up remarkably well.
taking into account the apparent pre-
pondorance or bearish influences. AS
q matter of fact. sellers for the decline
were disappointed because prices did
not break more sharply. Receipts at
primary points were urcommonly
heavy. particularly at Chicago, where
practically all available storage facu-
tiles were exhausted. The aggregate
movement a this main Western centres
was fully three times as large as in
the corresponding days last season.
and hence ii is certain that the visible
supply statement will show another
large increase on Monday. even though
exports are expected TO be heavier.
Harvesting began tthis season at least
two weeks sooner than a year ago, but
this does not wholly account for the
extraordinarily hcavy movement so
early in the season. despite the low
prices current as compared with re-
cent years. on the surface 1t would
seem that farmers We're urgently In
need OF money, but 1t is impossible TO
decide positively how much tbs has
had to do with the recent heavy sell
ing.
The Earlier Price Movement.
At the opening OF the week there
was temporary depression. caused
largely by cooler weather and moderate
rainfall in the Northwest, but almost
Immediately frmer feeling was de-
veloped Offerings quickly became
smaller. while demand was moderately
brisk. short selling showing anxiety to
cover. prompted principally by rumors
of de- mage TO spring wheat by rust
and grasshoppers. However. these re-
ports We're no. generally credited by
those who argued that 1t had not been
sufficiently hot and wet to cause note
worthy injury, and moreover It was
the belief that the grain was too far
advanced to be hurt apprecably.
Nevertheless. hdvices from trust
worthy sources suggested the yield in
the three big states. Minnesota and
the Dakotas. would be much smaller
than previously imagined. the total be-
ing then placed at less than 145. 100000
bushels, against 200. 100000 estimated
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24

early in the season and l75. 200, 900 har-
vested last year The subsequent re-
cession was chiefly attributed to free
selling in Chicago and other Western
markets, which largely represented
liquidation OF accounts OF houses in
financial trouble or going out of bus
mess.
Filth In Reciprocity Bill.
Selling was also accelerated partly
by the belief that the reciprocity treaty
would soon be passed. These Influences
We're. however. partly counterbalanced
by the animated interest displayed by
exporters. who bought large quanti-
ties OF winter wheat. durum and Man
itoba and also new winter to arrive.
In one day alone they booked about
100000 bushels This created most
hopeful feeling. especially among ex-
porters, who contend that Europe must
look TO North America for larger sup
plies this season. as crops abroad ap-
pear small excepting in India.
Late in the week there was further
irres ula.rity and unsettiement. prices
huotuating in an 'erratic fashion. in
dicating active liquidation for both ac-
counts. although net changes were
rather inconsequential. There was
rather more firmness a times on fur
tner rust damage runiors and reports
OF decreasing. deliveries by farmers at
country stations. As a result the price
for No. red, c. /. Z New York, rose
from Se&. cents 10 81, which hindered
export buying. Then. too, cables
We're somewhat encoura gins. Europea n
markets being Influenced by the ex-
pecta;ion OF small worlds exports for
the week. Subsequently holders for
the rise began TO take in profits which
caused slight decline. Primary re-
ceipts continue fairly big, excepting al
Kansas City.
Weeks Range of Corn.
Corn declined early in the week.
mainly on liquidation prompted chiefly
BY reports of slightly better crop pros
poets consequent upon rains and cooler
weather in the belt. Selling was also
partlS stimulated by a sharp break in
oats IT. Chicago, where holders for the
rise showed much anxiety to unload
1t was asserted that much of the
selling was forced by the settlement of
the affairs of a large house in hnan-
cial difficulties. Selling was also part
" accelerated by the belief that the
reciprocity treaty would speedily be
passed
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
RICHMOND VA MONDAY JULY a. 1911

bonds. Rates for commercial paper
were raised without marked increase
in offerings.
In the matter of governmental activ-
tiles. the market had to digest the re-
newcd suit to disassociate the Reading
coal holdings from the transportation
company; resumption OF the congress
sional Inquiries into the United States
steel Corporation and the American
sugar Refining Company. and the ap-
parent shaping Of next years political
campaign which those activities sug-
gest The Morocco question kept the
foreign influence In the market on the
side OF restraint
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
MARKET INFLUENCED
BY CROP PROSPECTS

New York, July 23.-Speculation in
the securities and commodities markets
concerned itself largely last week with
the agricultural prospect. Favorable
indications as to the harvests were
drawn from prevailing weather -rondi-
lions and speculative sentiment he
came correspondingiy hopeful. The
influence of crop prospects was COM
plicated to some extent by other fac
tors, which help to explain the irregu-
lar response.
The change in the cotton prospect
was the most notable of the week.
Relief from drought in the region most
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24

against their requirement OF actual
cotton until the new crop neg ms to
move freely in September and October
and as a speculation against the pos
sibility of crop damage during the
next two most critical months of Az
gust and September before the bulk of
the crop Is made.
Reasons for the Break.
The principal cause OF this sensa-
tional break and drastic liquidation in
the market has been the change OF
opinion and market position OF certain
leading heavy interests, owing to the
recent break In the drought in the
cotton belt 1t Is the opinion that the
heavy rains of the last fortnight, es-
.'e' tally the past week in Texas, Okla
hon'a and the Carolinas, have improved
The crop situation and outlook ID such
an extent that the next government
crop report. due on August 2, will show
an average condition which will in
crease last months expectations for a
croo of over 100000 bales TO a s good
as probably nearly 100000 bales. IT
has been the anticipation of such Il
oearish report which has been such a
principal cause of making the trade
now so bearish This. however, is TAX
ing entirely too much for granted with
the crop IN mdsea son. August and
September have in the past developed
such unfavorable weather conditions
that heavy crop damage has resulted
and changed an outlook for big crop
At the end of July into a much shorter
yield before the end of September
Therefore conservative cotton men.
while conceding the present prospects
are favorable for a record yield OF
over 100000 bales. are inclined to
deprecate the present change to such
extreme optimism on the yield which
the heavy general selling and sensa-
tional declines in the option markets
have been indicating the last few days.
In the meantime. the total stock of
cotton at all the United States ports
Is now down to a bare $4,000 bales.
OF which amount there Is only $4,000
bales at New York and $4,000 at New
Orleans. and the total stocks a. the
counted interior towns are under
10000 bales. With indications that the
carry-over In the visible supply Of
American cotton throughout the world
at the end Of the present season on
August 81 will be less than year go.
1t Is this strong statistical position
and the small holding OF actual cotton
By the American mills and the more
attra ciive prices now prevailing which
make many believe there is danger in
forcing prices down too rapidly in the
present bear movement. with every
thing pointing to a h!g demand for the
first receipts OF the new crop as soon
az its marketing becomes general In
September.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24

from the belt will redouble the desire
OF mantpulators to run the weak
shorts In" while favorable news will
nave the tendency to cause scalpins
longs to liquidate at is small loss as
possible.
The old crop months will be more
inactive than ever this-week unless all
signs fail Bearish opera tors say thar
the abnormally early movement of the
new crop has much to do with the quit,
ting OF the bulls in the old cron
months.
Tuesday is the last day to be con
s!dered in the August report on con-
dition by the government. Rather
more dispute than usual is promised
over the figures. owing TO semi n :
~ reports from private crop reporting
bureaus. some Of which appeared TO
have been made rather TO favor the no.
sition OF certain traders than to give
correct idea OF the status of the
growing crop
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
Ralroans.
Chesapeake & Ohio RaiIwa,

T:i0 A-Local-DaiIy-Newp News.
$3.50 A. Locai.-Daily-Ch'ville Elk. Sun. c.
Forge.
1900 A.-EXpress-Daily-N Old Polnt
tio:0o A.-Locai-Dnily-Lch Lex c. Forge.
tll:45 A.-Mtn. Spl Ex. Sunday-w. Sulphur.
$500 s-Daily-Cin. -L'ville.
1900 ress-Da.ly-NorfoIk. y. News
500 P-LocaI-Daily-N. News Old Point
s:i6 P.-Loeal-Dx. sunday-Gordonsville.
'5:l5 P.-Local-ES Sunday-Lchbg, Natural
Bridge. Clifton Forge
'6:55 acknowledgements. Chicago
'll:oo ess--Daily-Cinclnnati L'villa
'Sleepers. tParlor cars
TRAINS ARRIVE RICHMOND-Local from
East: SIS a. NJ. $50 P. NJ. Through from
East: 1850 =. NJ. $50 p. NJ
Local from West: as so A. NJ. $3.50 = NJ.
SIS P. NJ and $50 P. NJ. Through; 700 a.
NJ. a:i5 P. ".
James River Line; $685. a NJ. s:l5 P. NJ.
''Daily except sunday
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24

where the principal feature OF interest
was the ore and iron exchange deal
made between the Republic Iron and
Steel Company and the Struthers Fur
mace Company, by which the Republic
Company will get 10000 tons of basic
iron for shipment up to May. 1912.
Other steel companies in Ohio and
Western Pennsylvania contracted for
10000 tons of basic, while $500 tons
additional were closed In the Eastern
territory Including foundry iron.
total contracts placed in all dstribut-
ing districts aggregated about 10000
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
FOUND DEAD IN coRNr1ELD.
Man Tried for Comrtfcif, I'm Murder o,
SCpNfOr (inehel


Morgantown, Ky. July ?r-Alor9an
Whitaker, aged fifty-one. arrested in
1901 and tried for completely in the
murder of senator Goebel, was found
dead In cornfieid eight miles south
OF mere yesterday. He was lying face
down. the condition of the body indi-
eating he had died some hours before
Heart disease was the cause of his
death.
The rumor that Whitaker had been
assassinated caused considera bic stir
throughout Butler county before the
true facts surrounding his death be-
came known.
Senator Goebel, when assassinated
was a Democratic aspirant for the
governorship. Whitaker's trial resulted
in his being released from prison after
few years, but 1T is thought his
Incarceration undermined his health.
He was one of the first of the So
called mountain men" TO he arrested
in connection with the crime.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
OLDDOMINIONL LINE

Lv. Richmond foot of Ash ST. daiiy.7oo P. N.
Leave Newport News..................o:oo A. N
g GO A. NJ.
Connects with main line steamers Leaving
Norfolk for New York daily except SUNDAY
w. Ry. p II. and C. & o. Ry. at p. II.
Might Limo steamers stop at Claremont 10
iald or receive passengers signal.
VIRGINIA NAVIGATION Co.-James Rive,
by daylight for Norfolk Old Point Now
port News and all James River landings
Steamer leaves Monday Wednesday, aud
Friday at 80 \. NJ. Freight received for all
James Rivnr landings Phone Madison l7a
Main Ticket onicc, al e MA!n Street
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24


that system OF courts was abolished
by the new Constitution
a committee representing the Fred
erick County School Board went before
the Board of Supervisors yesterday af-
ternoon and urged the Importance of
IeNying an additional tax for school
purposes. II being the intention to in
crease the salaries of number OF the
best teachers OF the county in order to
Keep them from accepting more flat
tering offers from other localities The
Board of Supervisors took the matter
under advisement
At its meeting the School Board also
TOOK up the question of compelling all
school children to be vaccinated II
was pointed out that there is a strong
sentiment in favor of the law being
enforced instead of making it dis
cretonary with the county board, and
the matter will ne fully settled at an
early meeting.
large gasolene stove exploded very
suddenly yesterday in the home of r.
D.. ShuGert at Berryville, and for a
tine the house was threatened with
complete destruction. However. neigh
bors and hremen succeeded in saving
the dwelling
AT the annual meeting of the Win
chester and Washington City Railway
Company, held here few days ago
semi-annual dividend per cent. on
the paid-up capital stock of Sl5O,0OO
was declared. and ali old officers and
directors were elected for another
year The company has large water
and steam power plant along the
SHENANDOAH River. near Millville. and
supplies of electric power for a num-
Der of towns in the vicinity OF Win
chester, Charlestown and MartinsburG.
Mrs. Annie l. Brown, mother of
Colonel Forrest Brown. a prominent
lawyer of Charlestown, died several
days ago a her home in that place,
aged seventy eight years She was a
member of the Washington family of
Virginia before her marriage to the
late Thomas l. Brown. One son and
three daughters survive.
Turner Lockhart and Miss Viola
Goode OF Rock Enon Springs, who, as
told in these dispatches several DAYS
ago, braved terrific electrical and
rain storm at midnight to elope to
Hagerstown. only to be arrested in
Winchester upon complaint of the
girls father. have finally succeeded
in getting the knot tied by the pastor
of the First Baptist Church of Hagers-
town. The girls father. A r. Goode.
promised to buy her a new hat if she
would return home. and after adjust
ing the hat on her head she and Lock
hart managed to elude her father and
left on the first train for Hagerstown
Arrangements are being made at
Middletown for the annual meeting of
the Winchester district department of
the Womans Foreign Missionary So
ciety of the Southern Methodist Church
on August IL. Mrs. ]. T. Williams. OF
Berryville. who is the conference pres
ident, will be among the speakers
Upwards of 5000 people from the
Shenandoah Valley. portions of West
Virginia. Maryland and Southern Penn
sylvania attended the stwepty-second
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
Baltimore Steam Packet Co

Equipped With wireless biography
TO BALTIMORE AND THE NORTH VIA
NORFOLK AND OLD POINT
Leave Richmond RniIy. including Sunday via
n. & W. r.. $3.50 p. NJ. Norfolk $50 p. N.
c. s o. Ry. 400 p n. Old Point 80 p. "
Q. D. S. s. Co 1900 p. II. Cone day Ia Nor
Va. Nav. Co. $50 a. N. tafonday. wedne,-
day and friday.
Tickets at all offices. For staterooms ap-
ply to II NJ. BoYKIN, Agent. $50 East Main
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
Richmond & Petersburg Electric Railway

Cars leave Manchester. Seventh and Perry
Streets. for Petersburg:
Is. T. s. 80. 10. II. az a. n. /. q. IS 4 &
"5:i5. '6. I. S, ., 10 p. "
Il 100 p Il. for Chester. 1880 midnight for
Petersburg.
Cars leave Petersburg. foot Of Sycamore
Street, for Manchester:
t5:l5. s;a5. ''7:i6. T:25. $685. s:s5. .1o.as. HE
a. M. 1895. 'l35. 2:S. 3:a5. '4:35 5:a. 6:Ss.
1885. s:35 e:35. H0:io. n;40 P. n.
tDai!y except sunday and hoiidayk
Carries baggage and express
"Limited, except Sundays and holidayA
All cars from Peters yurg connect with
for Richmond.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
OFFICERS ELECTED.
Loudoun Medical Society Organized ut


Leesburg Va. July 23.-The Loudoun Med =
ical Society has been organized in I.eesburs
with the following officers DR.. " G. West
o: Leesburg president: Dr. Z. Fl. Heaton,
of Waterford first vice president: Dr.. T. F.
Keen OF Hamilton. second Vice president:
DR.. John y. Gibson. OF I.eeshrrs. secretary.
The association Is compord 81 all the
county physicians. ,wenty-siN in number. and
was organized for the purpose OF promoting
professional and social relations among its
members. The next meeting Will be held
at Hamilton, August is. and papers on topics
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
SEABOIRlI AIR LINZ.

southbound trains scheduled to leave Rich.
70 p. M.-sleepers and coaches Atlanta
birmingham. Savannah. Jacksonville and
FLORIDA pointa $3.50 =. M.-Sleepers and
coaches. savannah. Jacksonville and Florlda
points u:I3 =. M.-Sleeprrs and coachas Az
ianta, Birminsham. Memphis and tho South.
west. Northbound trains scheduled to arrivs
in Richmond daily: 5:s9 A. NJ, T:2z \ ~
sos J.. n. $40 y, II
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-24
NORFOLK SOUTHERN

Lv. Norfolk: SIS ana Ill A. NJ, - 2. n i,
for Bastern caIonnA and tho South.
Lv Raleigh: '6:l6 A. n. Is and 1913 r. II.
for Eastern Carolina and Norfolk.
Pullman Sleeping Cars between Norfolk,
Raleigh also Goid1boro and Norfolk.
sDany iy Ex. Sun
c. d. LEaRANDE. c. A.. American Nations.
Bank. Phone Monroe 1891. Richmond
w. w. CEOXTON. G.. p. A. >sortoiG. Va