davidaulloa/AmericanStories huggingface dataset:
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Texas Expects Good
Profit From Crop
Lessened Cost Of Handling and High.
er Prices May Make Return
Equal to 1912.

Texans estimate their State will
clear almost as much from 100000
bales this year, at IL IL cents, as 1t
did last year with 100000 bales at 10
cents.
The crop of 1912 paid $275, 900, 900.
This years should bring $3.50, 100000.
Here is shrinkage of $4,000, 900,
which must be overcome to prove the
contention. They go about it in this
way:
When the crop is heavy labor is
hard to get and wages advance until
the cost of picking cotton is raised
from about rs cents a hundred pounds
to somewhere between 80 cents and
ST. At 81 per hundred the gathering
of $4,000 bales would cost S27, 500,
900, while 100000 bales could be
picked for $l5,O0O0OO at 1915 a bale
the saving in the smaller crop being
$12, SOC, 900 in the wage account.
Ginning costs of So per bale would
require 100000 for the large crop
and $12, 100000 for the small yield
These two items taken together total
$4,000, 900.
The remaining $4,000 900 necessary
to balance crop values OF the two
years could easily be represented by
the cost of extra labor in handling
the large crop before 1t Is marketed
and in the value Of food for the great
er number of hands in the picking
season.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
News and Notes
OF the Grain Crop
By JOSEPH E. PRITcAARO.

CHICAGO, Sept. 27.-The open in
terest in corn at Chicago, while large,
is said to be of about normal pro-
portions for this season. There is
great deal OF the new crop hedged
here that is likely to be delivered be-
fore 1914. but this viii depend large
" on the weather conditions from
now until the end Of December. Chi
cago is the largest corn market in
the world-in fact. it is larger than
all the others combined when the
matter of hedging against the ac-
tual grain is considered.
In addition to the corn that has
been sold and Is intended as hedges
against the grain, those who believe
that prices are too high have put out
good sized lines in a purely speCula-
tive way. Those who have bought
the corn and who expect to stand
on ii, are in a great many instances
men who want the grain for manu-
featuring purposes and who will take
it in and pay for il when delivery
day rolls around. II will be remem-
bered that for some time past manu-
facturers have bought freely Of corn,
but that they have been unable to
secure the grain and in some in
stances have been obliged to go to
Argentina for supplies.
The Chicago Board of Trade does
no. permit Of corners in any product.
and this fact probably more than
anything else restricted the manipu-
latiou BY the longs in corn during
the present month.
The wheat situation at the moment
hiss MANY possibilities Speculation is
smaller than is generally seen, but
the bulls and bears are both await
ing for an opportunity 10 make a de-
cided stand and they are also wait
ing for the public 10 come in and take
a hand in the market. The average
! out side Spectator is a bull only and
is to be seen when prices are ad-
vancing, not when they are standing
at certain level or declining.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
CENTRAL USES
MUCH INCOME
ON UPBUILD|NG
Spends $653,632 for Improve
ments During Year = Much
New Equipment Bought.

SAVANNAH. Sept 27.-Consider-
ing the poor 1912 crop, the Central of
Georgia Railroad enjoyed a good traf-
fic during the fiscal year ending June
30 This is shown by the annual re-
port of President Charles II. Mark
ham. The report viii be submitted
to the stockholders at their annual
meeting in Savannah October s.
At the end OF the last fiscal year
the Central was operating eleven
miles of track more than the year be-
fore. The road spent for additions
and betterments 1858, 632.10. The
physical condition of the property is
substantially improved. There were
1927 miles Of track relaid with 90
pound steel rails, and 1912 miles
with s0-pound steel rails.
Seventeen locomotives were added
and 1925 freight cars. The timber
treating plant at Macon was COM
pleted and is in operation. A new
passenger station was erected at
GAINESVILLE. Combination stations
were erected at FELTON,, Junction City,
Lafayette, Register. Sharpsboro and
The Rock, and at Bellwood and Ster
rets. Ala. The freight warehouses at
Savannah were extended. An cleo
trio pumping station for water sup
ply was installed at Griffin. TWO
10000 gallon steel tanks were erected
at Oconee and Albany. A pumping
station was installed on Flint River.
There was a decrease of $S4,72114
in freight revenue, and an increase of
$50, 1902 in passenger revenue, max
ing a total increase in revenue from
transportation of $2,479.28. Trans
portation expenses decreased ST.
507.37. Taxes decreased $26,965.
With reference to capital stock and
funded debt the report says:
Cumulative preferred stock of
par value $15,000,0O0 was issued and
sold as of July 1, 1912. The income
bonds of par value s14,461 900 acquir-
ed as OF July /, 1912. and income
bonds or securities exchangeable
therefor in the treasury or purchased
during the year of par value $179,5
total $14, 640,550, have been retired
During the year s2,43s,0 of the
general and refunding mortgage
bonds have been authenticated by the
trustees and delivered to the COM
pany. On account of the unsatis-
factory market, none Of these bonds
have been sold and to meet the tenn
porary needs Of the company pend
ing sale of these securities, to REIN
burse the treasury for past expendi-
lures and to provide funds for the
payment of past due short term
notes for $650OO0 due March 1. 1912.
100000 has been borrowed on short
term notes, the general and refund
ing mortgage bonds having been
pledged as security therefor.
THE first mortgage bonds of the
Wadley Southern Railway Company
which were pledged as collateral un-
der the short term notes for S650,000
paid during the year have been re-
turned to the company. Equipment
trust Obligations amounting to $40S,-
600 and Greenville and Newman main
line and Upper Cahaba branch bonds
amounting to 100000 matured and
were paid"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Cotton Touches New
High for Movement
Texas Rains and Bad Forecast, With
Lifting Of Gloom From Capt.
tai, Boost Prices.
BY EDWARD Low RANLETT.

NEW YORK, sept 27.-The cotton
market opened buUyaut and excited
today and almost Immediately new
high levels were reached. The domi-
mating influences in the early trading
were higher Liverpool cables than eX-
pected and the prospect OF unfaVOrable
weather for Monday and Tuesday. To
days map also showed continued and
heavy rains in Texas, extending to
Louisiana The week lend statistics is
sued Friday night were effective in
shaping sentiment
Liverpool cables were TO Sla points
higher at the hour Of the New York
opening. Early IN the day October sold
al l4l0, December az 1895. January at
1852 and March at 1892 From this
level. there was some recession before
me close, but the market was strong
throughout the day
The market has been strong during
the week, Notwithstanding the fact that
weather reports have been bCttr par
ticularly for the eastern belt. and the
movment OF the crop has been on "A
more liberal scale
The action OF Congress on the op-
ton bill has shown signs Of more ia
Norable results. inasmuch as the most
radical features OF the original Clarke
amendment appear to have been aban-
doned, and the Underwood amendment
which fixes reaSona BILE grades for deliV.
cry on contracts. with nominal tax
seems to have most favor with both
the conference committee
This would appear TO insure an early
ana favorable settlement Of the entire
matter. The grades deliverable on con-
tracts include those between good ordi-
nary and middling fair. OF which grades
very much the largest portion OF the
crop consists
Another working factor distinctly for
higher prices has been a disposition to
hold crop estimates IN the IA 900. 600
bale class. Georgia and the Carollnas
alone have promise Of the crop equal to
or In excess Of last year.
In the cotton goods division Of the
dry goods trade, activity and tirmness
prevailed. The sharp advances Of last
week have been sustained and are like
ly to be further increased on staple
goods should the cost OF raw material
advance, Jobbers are very well clear
Of accumulation.
Estimated cotton receipts:
Monday. 1919.
New Orleans. 900. $500 to 4 500 6,S95
Galveston ........ 20, 900 to $4,000 81. 992
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Frisco Discontinues
New Orleans Office
Move Strengthens Rumor That Santa
Fe Eventually Will Take
Over N. o., T. & M.

NEW ORLEANS, Sept. Eft has
been announced officially that Octo-
Der the Frisco will remove its entire
soliciting representation from this
city and will not have an office Of
any kind here. This strengthens the
opinion that eventually the Santa Re
will take over the New Orleans, Tex
as and Mexico and is said to be now
dickering with Edenborn interests for
the Louisiana Navigation, so as 20
have a direct line into New Orleans
from Shreveport as well as Beau
mont.
AS line entirely independent of is
old parent, the New Orleans, Texas
and Mexico october will begin oper-
alton out of New Orleans with close
freight traffic arrangement with the
Santa Fe out of Beaumont as an eff
fective bid for enlarged business.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Argentine Butter
Now Being Imported
Product Can Be Landed for 26 Cents
Plus 2 - Cents Duty,
and Is Good.

NEW YORK, Sept 27.-Following
the direct shipment Of Argentine beef
recently landed here, there arrived at
the Ganscvoort Market consignment
of Ten 90 pound cases Of Argentine
butter.
W. TYRE Stevens said he was pre-
pared to ship 5000 cases on each
steamer ~ the American market war
rarted il. and that he had sold be-
tween 1000 and 1000 cases 10 be
shipped in the steamer due TO reach
here about November Z. The butter,
he said, can be landed in this country
at 26 cents d pound, plus ? IL cents
duty. and II is expected to retail az
about Il cents. the present price of
the best domestic butter.
A number OF experts who examined
the shipment are said 10 have regard
ed II as satisfactory. II has a good
color, IS evenly salted, waxy and Of
good favor.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Mexican TradeBetter
Despite Revolutions
Commerce With United States
$13,25o,ooo Over Last Year-lm-
ports Growing Faster.

WASHINGTON, Sept. 27-In spite
of the unsettled conditions in Mexico,
trade with the United States in The
fiscal year ended June 80 was greater
than ever before. Imports of mer-
chandise from Mexico in 1913 totalsd
1880. 900, an increase of 1880, 600
over 1912 Exports to Mexico
amounted to S54500 900, an increase
of S1.750. 900 over 1912.
Manufacturers materials formed
the greater part of imports and man
ufactures the bulk of exports.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Clear Skies Aid Crop;
Late Frost Is Needed
in Contracts Followed by Spots; Liver
pool Prices Abnormally Strong.

MEMPHIS, Sept. 27.-Light frosts
in portions of the central and eastern
belt have caused some concern, but
for the most part the weather
throughout the cotton belt has been
favorable for the past week. Reports
from the planters have become more
cheerful, although no one attempts to
deny that the heavy rains did dam
age. The trade, however, believed
the change in the weather might
overcome much of this harm.
The prospective Improvement is
largely dependent upon the date of
the first killing frost. Every one ad-
mits that the rains which broke the
drouth made the plant put on addi-
tional growth, but whether this new
growth will have time to fruit de-
ponds upon the late coming of frost
The light frosts do no harm, and
even are a benefit in the lowlands,
where they kill off part of the fruit
age and cause the bolls to hasten to
maturity.
So, with clearing skies, the planters
who thought their crops were ruined
have become more cheerful
Want Two Weeks Delay.
The frost date is the greatest devel-
opment ahead of the market now
The average date for the first killing
frost in this particular territory is
the last week of October. If 1t is de-
ferred two weeks this year. there
probably will be a considerable top
crop.
Picking has made excellent progress
during the past week. The movement
still reflects the interruption during
the wet spell. 1t is expected the next
report of bales ginned will be COM
paratively small on account of the
weather. In this territory, picking
was interrupted for more than a
week, though an unusually large per-
centage Of the crop was open when
the rains started
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28

tive short term notes, only the
choicest of seasoned investment
stocks, ones whose dividends are
amply secured and whose quota
tons do not fluctuate violently
with every passing gust of pes
eimism or optimism.
Trustworthy Stocks Cheap.
Many trustworthy securities are
cheap at current prices. There has
been extensive buying OF short-term
notes and moderate Investment In
frst- grade bonds by influential, well
informed interests But these same
people are not loading up with speou-
lative stocks, for they do not look for
any boom in the near future.
Spectators are apt to suffer sew
eraI shocks before long-both the
bearish and the bullish ones.
/ learn from the most authoritative
sources that President Wilson Is to
recommend very radical Legislation at
the next regular session OF Congress.
Capital will be attacked from sew
eral angles and II his Will Is carried
out-as II is likely 10 be-there VIII
be a breaking up OF the money pow
Ing directurates.
The Pujo investigation is not 10 be
forgotten. Vigorous legislation Is
planned 10 deal with the disclosures
made by the committee.
Although the hnanciers are not pub
licly discussing this phase OF the out
look. widespread uneasiness is begin
ming TO be felt among them.
Railroads Segreeate Holdings.
The Pennsylvania Railroads sale OF
It's holdings In anthracite coal com
panies and its plan TO dispose Of Its
important block OF Cambria Steel
stock are significant developments
Coming events cast their shadows
before
There IS every reason TO believe that
Reading is ready to segregate it's coal
from its railroad business. and other
companies no doubt will follow suit,
And Washington does not mean to
lag behind public sentiment In the
matter OF dealing with corporations.
Are railroad directors hereafter to
be held responsible for wrecks?
The Interstate Commerce Commits
sion's report on the recent New Ha-
ven disaster has caused CONSERVATION
In high financial circles.
stirs Up New Problem,
Here Is what one Oh NilG hUHA hAlpNh
railroad directors, who is also bank
er, said TO me:
''If bankers must not do any financ-
ing for railroads on whose boards
they sit, who win look after railroad
hnancing2
"And II directors are liable to be
thrown into prison whenever an &C
cideut occurs, who win want TO be
railroad directors?
II believe in fastening responsible
ity upon individuals, but this new
proposal has two sides.
1T is a question calling for the
most deliberate consideration before
any revolutionary action is taken
Verify, the lot OF a railroad direc-
tor is not 20 future to be so pleasant
and profitable as it has been in the
past.
/ agree with this banker that the
problem calls for extremely careful
consideration rather than for hasty, i'll
tempered action.
But that there will be some change
in the status OF all directOrs-indus-
trial as well as railroads. certain.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28

CHICAGO, Sept. 27.-Hogs: Receipts,
5000; market strong. Light, s85@9.0o;
light mixed, S.7O9S.s5; prime light
butchers. S.7598.90; medium butchers,
S.60GS.75; prime heavy butchers, S.S5
packing. SO6q8.35.
Cattle: Receipts, 1000; market steady;
steers, good to choice, S.90Q9. 40; steers.
fair to good. 7.50Q8.75; yearlings, good
to choice, S256950; yearlings. fair to
good, 7.356835; stockers, 6.o007s5;
feeding steers. 6.75Q7.75; fair to good
heifers, 7.759s.50; good choice cows, 5. rs
d725; good to choice calves, 10.500
l- SbsaI raiI 20 $3.50 Sao =, 49,
Native lambs, 6.75G7.25; range lambs,
7.0067.25; range yearlings, 6.150575;
range ewes, 4.00G425; range weathers,
420@450; feeding lambs. 6.25a6.60.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28

The spot situation has been full Of
strength, though much Of 1t has re-
suited from the firmness in the con-
tract market, the advancing tendency
there having afforded an excellent
hedging basis and encouraged buying
that otherwise might have been de-
ferred. The spinners have shown
more disposition to purchase some
needed supplies and much of the in
spiration for the bullish activity has
been due to this fact.
Liverpool Is Strong.
The Liverpool market, which is the
best reflection of the attitude Of the
spinners in Great Britain and on the
continent. has been strong all the
week and a fairly large turnover Of
the actual has taken place there
Cable advices have been that much
concern was felt as to whether the
crop would be large enough to fill re-
quirements of the consumers at cur
rent prices.
Prices In the big English market
have been at abnormal premiums
over those ruling in the domestic
speculative centers. This may have
been due in a measure to concern
over the fate of future trading in this
country. Bullsh activity has been
restricted here on that account.
Business in spots has been fairly
large. Demand has taken care of Of
ferings. Quotations have advanced
with regularity and have kept pace
with contracts. showing that the
strength in futures was legitimate.
Holders are not reluctant to accept
current prices, ranging from about
10 LAC to IS 5-Sc for middling up
land. A feature of the week has been
the revision of differences for the
several grades, though changes have
not been marked yet. The higher
grades are stronger relatively and are
expected to increase their premiums
later.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Longs in September
Corn Compromise
Lack Of Buying Power in That Fu-
ture Said to Represent Ex-
tensIVe Settlements.
BY JOS. r, PRITcHARp.

CHICAGO. Sept 27.-It was said on
the Board of Trade to-day that the
lack Of buying power in September corn
for the past few days was a reflection
Of the fact that good sized private set
Elements have been made between the
longs and shorts, The evening of the
market is about at an end, the bulls
say
The Armour Grain Company places
the corn crop of this year at 2, 400, 900 900
bushels. which is 269.OOO,0OO bushels
short of a ten-year average, including
the bumper crop of 1912
Corn showed further losses of 1bd%c
to-day but there were goodly reactions
and advances from the bottom prices
reached; Higher temperatures are ex-
pected by the weather bureau, and in
this case the movement of corn viii
be on a larger scale.
There were SPAS, 900 bushels of corn
received at primary markets this week,
and since November 1, 236,000, 600 BUSH
els. These figures compare with A.
4S1 900 and 216, 900, 900 bushels. respec-
lively, a year ago. Cash sales here
were small at $1,000 bushels.
There was q better class of buying
in wheat to-day, the. undertone was
stronger and final prices for the day
were BIsc higher Northwestern
markets showed steadier tone, al
lHOuB IeCelplS at NhluHedpOllS ana IJu-
luth were 1,025 cars, and for the n elk
1914 cars Canadian wheat moved in
large quantities this week, total receipts
at Winnipeg being 8,744 cars or $500
cars in excess of a like period last year.
Oats closed fractionally better. Cash
transactions here were only $50, 600
bushels
There was lack of trade in hog
products, including not only the futures,
but the cash articles as well.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
S2,0O4,562 Securities
Bring Only S250,000
Bank Buys In New Orleans Drain
age Company Paper at
Public Auction.

CHICAGO, Sept. 27.-Stocks to the
value of more than s1,OO0,O00, an even
100000 in bonds, and a demand
note for s4,562, the property of the
New Orleans Drainage Company,
were sold at public auction by Mas
ter in Chancery Charlie B. Morrison,
and were bought for s25o,OoO by the
Continental Trust and Savings Bank.
which has been holding the securities
as collateral for loan of S250,0s5.90
The bank was the only bidder. rE
bank made the loan in 1910. Tho
company could not make payment,
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
GROCERS HARD
PUSHED TOF|LL
HURRY ORDERS
Fall Trade Opens With Rush,
Catching Big and Little Fellows
With Bare Shelves.

Fail trade among wholesale grocers
is opening up with a rush, and dealers
are hard pressed to supply the urgent
demand for big orders, according 10
W. NJ. Burke, of H. H. Whitcomb &
Burke, grocery brokers, No. 14s Mad
ison avenue.
Since spring there has been re-
trenchment all along the line" he
says The farmers and even city
folk have been buying just what they
needed IN as small quantities as pos
sible. Retail dealers have taken their
cue from their customers and have
decreased their orders from the
wholesalers, They have sold out of
stock until their shelves were almost
bare, Wholesalers, too, have adopted
the hand to mouth policy.
"As a result, the optimistic feeling,
born with the movement Of the cotton
crop and the good prices the crop is
bringing, has awakened u trade which
bids fair to swamp the dealers
Want Goods at Once.
Consumers are indulging them
selves In little luxuries for the table
Pthat they denied themselves when the
outcome of the season was In doubt.
Retailers have been forced to stock
up in a hurry. Wholesalers, with
short stocks, want goods at once. Wo
in turn keep the wires hot implorirR
manufacturers for carload lots, i'm
mediate shipment.
THE only trouble about all this II
that prices on many important prod
ucts have advanced, and the trade -
forced to buy on the rise.
This is particularly true Of canned
meats. With the present shortage of
corn and scarcity Of live stock. It Is
doubtful If canned meats ever do re-
treat this season from present high
ground.
Even Beans Higher
within the past week tripe, dried
and roast beef and other timed meat
products have advanced 10 per cent.
Even pork and beans are u ala per
cent and sardines are out of sight,
with an advance over recent quota
tons Of more than 10 per cent.
Rice is high-so high that 1t 10
moving slowly. Lard just now Is in
remarkably strong demand, with
prices ruling firm"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
Ns by Experts of Finance Industry Crops and Con
Reading and Union
Pacific Lead Market
Trading Narrow so That Several I'm
portant Issues Fall to Appear
on the Tape,

NEW YORK. Sept 27.-Aside from
Union Pacific and Reading. both Of
which scored material advances, there
was little activity in the stock market
to-day Trading was so narrow that
several important issues did not appear
on the tape at all.
In the first half Of the session, about
30 per cent OF the transactions were
made up Of Union Pacific, Reading.
Amalgamated Copper and Steel. The
demonstration Of the two leading stocks
Influenced moderate short covering and
prices hardened somewhat toward the
close
The cause assigned for the strength
Of Union Pacific was the persistent
rum0r Of an impending melon cutting
Confirmation was lacking.
Tic bank statement was generally
satisfactory. despite the sliSnt surplus
ana cash gains shown, in view OF the
large demands which the banks have
been called upon 10 finance
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
NEw YORK BANK STATEMENT.

NEW YORK. Sept. 27.-The weekly
statement OF the New York Associated
Banks shows the following changes:
Average statement:
Excess cash reserve, Sla,215,45 in
crease, $4.534,750.
Loans, decrease, S3,s15,00o.
Specie. increase, So, $50, 600
Legal tenders decrease S M;l ~
. Circulation, increase, $1,000.
Actual statement.
Loans. increase, S7,79S. 900.
Specie, increase. So, 9Sl 900
Legal tenders. decrease. Sl.7S1, 900.
Net deposits. increase, S2.024000.
Reserve, increase, SSS6, 500