davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
FURTHER BREAK IN
COTTON MARKET.
Followed by Partial RecOv-
cry and Close Is
Steady

New York, November PA further
break of over 81 per bale in the cotton
market today was followed by partial
recovery in the late trading with the
close very steady at a net decline of Z
to % points January contracts sold off
to 2O.21c or 81 below the high record of
yesterday morning, and closed at 2O.4Ic.
The market opened steady at an adj
vance of to 10 points, a better response
to relatively firm cables being prevented
by heavy overnight selling orders. The
sharp break of yesterday seemed to have
disturbed the confidence of recent buy
ers and the market turned weak shortly
after the call. Talk Of scarce freight
room for cotton exports and advancing
costs of transportation encouraged reac-
tienary sentiment while there were also
runors of an easier spot basis In the
south and local selling became more ag-
gressive as the market worked lower.
There was sufficient covering or bull
support to cause rallies of to Il points
during the morning, but each of these
bulges met increased offerings and the
market was very weak and unsettled dur
ing the early afternoon. Reports of
higher marine war risks seemed to stimu-
late the selling which carried March con-
tracts off to 20.41c and May to 2060c with
present crop deliveries selling AZ to AZ
points net lower. while october broke to
q net loss of 80 points. The selling on
this break seemed to relieve the market
of the more urgent pressure. however
lnd prices rallied pretty sharply late In
the afternoon on renewed covering, trade
buying and bull support. This bulge was
accompanied by reports that spot offer
ings were being withdrawn at the de-
cline and there was some fresh buying on
a belief that the break had been chiefly
the result OF a weakened technical po-
sition.
Private cables attributed the early
strength in Liverpool to trade and con-
tinental buying and Liverpool houses
were buying here again during the day,
although they were less active than re-
Gently. Spot interests were sellers of De-
cember which led to talk of large notices
next Friday, but December held within
IL or is points of July.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
STOCK MARKET IS
AGAIN ACTIVE
Trading Governed by Tech
nical Conditions-Metal
Deal Denied

New York, November 22-Trading In
today's active market was again gov
erned to an unusual extent by techni-
cal conditions. There were further
Indications of an extended bull ac-
count, especially in metals and special
ties of recent prominence
Stocks of the more speculative kind
were freely offered almost from the
outset, but registered lowest price in
the final hour, when the entire list be-
came unsettled. One of the primary
causes was an unexpected rise in call
money to 41ac and even per cent the
latter rate being paid by a few be-
lated borrowers
Authoritative denial of any impend-
ing deal or consolidation of the metal
companies was the chief factor in that
quarter Coppers fell 2 to almost 8
POINTS from highest quotations Of the
preceding session and twice that much
from best prices of last week. Paper
issues lost as much also some of the
equipments and independent steel and
iron issues, Bethlehem Steel falling 30
points and recovering 10, with loss
OF for the preferred.
ChAtSu Suits OleSi n6lu SLedQy OuT-
ing the forenoon, the action of the
corporation in the matter of the in
creased wage scale being accepted as
favorable development. Steel made
its best price in the later dealings, but
lost ground as selling pressure in
creased, closing at a net loss of almost
points.
Motor shares and accessories domi-
mated the market for time at gains
of to points, Chandler motors lead
ing the advance with Studebaker and
Maxwell. Most if not all of these
gains were forfeited, however, as were
some substantial advances in the
leather group Ohio gas retained over
half of it's six points gain, but this
proved to be an isolated instance.
Rails were strong during the mid
session, presumably in consequence OF
the decision rendered by one of the
federal courts declaring the Adamson
law unconstitutional, but gains In this
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
WHEAT MARKET ON
BACKWARD SWING.
Reports of Embargo on
FOOdstuffs Nullify Price
Advances

Chicago. November Authoritative
announcement that legislation for an en-
barge on foodstufrs would have substan-
tial backing in Congress did a good deal
today to nullify the greater part of a
sharp net advance in the price Of wheat
After rising in some Instances as much
as 4sse bushel the market turned weak
and closed unsettled at net gains of &c
to i7sc. with December at S1.S3B to si.s3A
and May sl.SS%. Corn finished lie to 1lz9
lSsc up, and oats up &c to A@9sc. Pro-
visions closed irregular, varying cents
off to rise of 10 cents.
Highest prices OF the day we're reached
in the wheat pit soon after the opening
of business and before word had been
received from Washington that Chair
man Fitzgerald Of the House committee
on appropriations was taking energetic
measures to push the enactment of an
embargo. Rumors that export transac-'
tons in wheat yesterday had aggregated
900 bushels formed the chief basis
of the upturn In values. In addition,
Argentine crop advices were the most
bullish yet at hand, doubt being ex-
pressed whether there would be any ex-
portable surplus whatever this season
in Argentina. After Chairman F1tzger-
AIDS position was known, however back
ward swings became more and more pro-
nouneed, and it was not until the last
half hour of the session that any i'm
portant rally took place.
Denials that export sales of wheat Ia
the United States yesterday had been I'M
usually big, assisted to a material extent
in forcing the reaction from the swift
early advance in prices. According to
current estimates today's export business
was moderate-500,0 900 bushels.
Disappointing returns from huskers
tended to uphold corn, and SO, too, did
bullish crop conditions in Argentina
For the most part, though, the market
was governed by the fluctuations OF
wheat.
Oats merely reflected the changes in
other grain. Trading was light.
Provisions averaged higher with hogs
and grain. Demand, however, was not
urgent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
New York Futures
Port Cotton Market

New Orleans Middling. zoe; re-
ceipts, 1888; sales. 1855; stock, 456,65o.
Galveston Middling, 2050c; re-
ceipts, 14,s09; sales. 1915; stock, 1884,
$50
Mobile: Middling, 20.25c; receipts,
SEQ: stock, 11,4S5.
Savannah: Middling, 2o.5oc; receipts,
6747; sales. 1882; stock, 1888
Charleston: Middling, zoe; receipts,
1892; sales, so; stock, 1874.
Wilmington: Middling, zoe; receipts,
90; stock, 53,719.
Texas City: Receipts, 10000
Norfolk: Middling, 2o.06c; receipts,
1857; sales, 947; stock. s5,1S6.
Baltimore: Exports, 1892; stock,
1887.
Boston: Middling, 2o.75; receipts,
1882; stock, 1000.
Philadelphia: Middling, 20.55c; re-
ceipts 500; stock. 1894
New York: Middling, 20.3oc; re-
ceipts, 265; sales, 100; stock, 1879.
Minor ports: Receipts, 1911; exports,
11.538; stock, 1882.
Total today Receipts, 45,127; ex-
ports. 1850; stock, 1,459.590
Total for week: Receipts, 156,4SS;
exports, s2,1S2.
Total for season: Receipts, 3,6s9,s4s;
exports, 2,22O,345.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
SELLING OUT IS
DECIDING FACTOR
New Orleans Cotton Market
Shows Loss of 16 to IS
Points

New Orleans, November 22.-The selling
out movement was the decking factor in
the trading in cotton on this market to-
day. After brief period of higher prices
around the opening, the market fell off
and after several partial reeoverIes
landed 80 to 43 points under the level of
yesterdays close Toward the end the
tone was steadier, chiefly on profit TAX
ing by scalping shorts and the net re-
suits for the day were a loss of ls to Is
points.
Much higher Liverpool prices than ex-
rected were responsible for the opening
advance but the hard spot seemed to at
tract liquidation In Increased volume, and
soon prices were crumbling away in a
manner little short of the sensational,
reaching large numbers of stop loss or
ders on the long side on the way down.
1t was strictly technical market, lit
tie attention being paid to but the size
of the short interest after the trading
was well under way Spots weakened in
sympathy with contracts, local prices
being reduced % points to 20 cents for
middling.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Missing Bankers Boat Is
Found in Tensas Swamp

Mobile November 22.-Relatives of
William McCauskland Baton Rouge,
La, banker, returning this afternoon,
reported his hunting skiff had been found
this morning in the marshes of Tensas
river. 1t is believed he met death by
drowning when the skiff overturned.
Footprints, believed to have been Nc
Causland's, were found near where the
skiff was located. The tracks showed,
however, that the man had evidently re-
turned to his boat. The gun and oars be-
longing to the skiff were missing. The
river bottom is being dragged. Because
of the deep mud it is believed that the
banker was drowned when his feet sank
into the mire, preventing him from
reaching the skiff
McCausland disappeared last Wednes-
day afternoon.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23

cotton. Tired locals took advantage Of
every rally to liquidate. The decline,
while orderly, was nevertheless severe,
averaging about 81 points. In the clos
ing hour, over-sold conditions de-
veloped and sharp rally followed.
AS forecasted yesterday, we look for
a market of wide swings. Sold out bulls
and bears are likely to be buyers on
declines. Belated longs and interests,
bullish at heart but believing that the
price discounts anything short of early
peace, are likely to be sellers on rail-
lies. Consequently quick moves appear
Inevitable. Purchases made on sharp
declines and we'll margined would APP
pear to be safe propositions, but fair
profits would not be ignored The out
look evidently looks most promising
for bull interests, but periods of hesi-
tation and depression must be expected
Cotton cannot be expected to soar in
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
QUOTATIONS STEADY
ON MORRIS AVENUE
Poultry Plentiful and Large
Shipments of Turkeys
Received

With steady quotations and good sup
plies in all markets, Morris avenue deal
ers did a good business Wednesday.
In the poultry market, plentiful sup
plies of chickens and eggs are being re-
ceived. and turkeys for the Thanksglv-
ing trade are arriving in large quaint
ties. Country eggs remain firm at 40
cents. and dressed hens are selling at IS
and IT cents. Turkeys. live, are selling
at IS and 10 cents, and dressed at % and
20 cents. No advance is looked for with
in the next day or two, and 1t Is ex-
rected that this price will hold until after
THANKSGIVING
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23

New York, November.-(Special
Heavy realizing sales, both in Liver
pool and In this market, brought about
a sharp decline of some 30 points from
the high prices of yesterday morning
when the bureau report was made pub
lie. Many in the trade consider the de-
cline of today as a natural reaction
after the sharp advance of the last
fortnight, and bought freely during
the last hour on the belief that higher
prices would now be in order before
the government crop estimate in De-
cember. The west and several of the
Wall street houses were the heaviest
sellers and the buyers mainly the local
traers, who see no change in the sit
uation and regard todays liquidation
as putting the market in better form
than 1t has been of late.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Bonds
Mercantile Pauer

New York. November 22.-Mercantile
paper, 3ls per cent. Sterling 60-day
bills, SAT- "; commercial 60-day bills
on banks, $4.70%; commercial 60-day
bills, $4.707k demand, $4.75%; cables,
$4.76 Tie. Francs. demand, $5.S41s ;
cables, $5.S51a. Marks demand, 6S7s
cables, soc. Kronen, demand, * ca
bles, 1915. Guilders, demand, 40s4 ca
bles, 40 1916. Lires, demand, 500; ca
bles, 6.6S. Rubles. demand, 30A; ca
bles, 301a. ~Bsr Silver, 72Bc; Mexican
dollars, 56isc. Government bonds
steady; railroad bonds irregular. Time
loans easier; go days, 2&@3 per cent;
80 days, 3A @31s per cent; six months,
81 @3A per cent. Call money firm;
highest, S1s per cent; lowest, "a per
cent; ruling rate, per cent; last loan,
az per cent; closing bid, per cent;
offered at az per cent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Chicago Grain

red nominal No. red, s184; No. 2
hard, sissy: No. hard, s1.S6@1.S7
Corn, No, 2 yellow, @s7hc No. 4
yellow, 931k@951ac, No. white, saa
94c. Oats, No. 8 white, 57ss 95sAc;
standard nominal Rye, No. 2, $1,000
ISL; barley, 9oc@ s1.2S; timothy, So. 25
q 5.25; clover, $15@1T. Pork, $3.50:
lard. $3.50; ribs, s14.25@15.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23

per bale since August. A substantial
decline would doubtless develop re
newed interests, likely to be world
wide, since the question OF production
for the coming season is conjectural,
while the consumption on a constantly
Increasing scale is a certainty. Spot
and future markets for the time being
are likely to work Independent of each
other. The south Is confident of the
strength of it's position.
Speculative interests may, and doubt
less will, take chances on Issues which.
in no way will lessen the ultimate
value of spots. We consider the posi-
ton of spot holders safe. Speculative
bulls will have to accept daily develop
ments as a basis for operations.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Dry Gnnds Market

New York November 22.-Cotton
goods advanced today. Tickings were
up l cent a yard and fruit bleach cot
tons another u cent yard to 11hc.
Thirty-siX-inch mapped goods were
priced for fall at advances ranging
from 80 to &C 2-3 per cent over last
year. Knit goods were active. Worsted
yarns sold at new high levels.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23

division also were of brief duration.
Total sales amounted to lS2o,0
shares.
Bonds were heavy, with recessions
Of to 4 points in copper and Indus
trial issues. Total sales, par value,
aggregated $4,625, 900.
United States bonds were unchanged
on call
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Ayery's Letter

The cotton market today acted as
anticipated. Liquidation was persist
ent all day. Liverpool had the APP
pearance of being manipulated to give
a strong American opening, upon
which the big fellows expected to I'M
load The tightening of an overex-
tended long interest will require more
than one day and I expect further Ii
oaidation under cover of the same tao
tics as was pursued today.
Advise a waiting attitude until the
cleansing process has been completed
C. F. AVERY
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Coffee Market

New York, November 22.-The market
for coffee futures was firmer today on
covering by near months. shorts and out
side buying of later deliveries which may
possibly have been stimulated by rumors
that syndicate had been formed to buy
a large block of coffee to be shipped to
Havre with a view to holding it until the
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Rice Market

New Orleans, November 22-Both
rough and clean rice were easier to-
day. Receipts: Rough, 54S3 sacks
millers, 5000 sacks; clean, $3.50 pockets.
Sales: Clean Honduras, $685. pockets
Japan, 1892 pockets blue rose, 2427
pockets Quotations unchanged
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Produce Market

New York, November 22.-Butter firm;
receipts, 52U4; creamery, higher than ex-
tras, 421sM43c; creamery extras, 80 score,
4h@42c; firsts, 3s@41e; seconds, 37d8sAd.
Eggs irregular; receipts, 7227; fresh gath
cred extra fine, 4S@50c; extra frsts. 45@
Hc: firsts, 42@44c; seconds, 3S@41c. Cheese
steady; receipts, 1915; state specials, FAN
@A1hc; state specials, average fancy.
23h@24c. Dressed poultry firm; chickens,
20G31c: fowls, 16@23c; turkeys 23@S1c.
Chicago, November 22.-Butter Elgin
higher; creamery, 36@4111c. Eggs. Re-
ceipts, 2244 cases; unchanged. Potatoes:
Receipts, IS cars; unchanged. Poultry,
alive firm; fowls, 14c; springs, loo.
St. Louis, November 22.-Poultry: Hens.
12d131kc; springs 1910; turkeys, 13@2xc;
geese 10@12c ducks unchanged. Butter
and eggs unchanged.
Kansas City, November 22.-Butter.
eggs and poultry unchanged.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
New Orleans Futures
New Orleans Cotton

New Orleans, November 22-Spot cotton
quiet; % points off; sales on the spot
2S5; to arrive, 1889; good ordinary, 1850
strict good ordinary, 1sc; low middling,
1850; strict low middling, 1975c; mid
ding, 20.62c; receipts, 1888; stock, 456, 65O
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Kansas City Grain

Kansas City, November 22.-Casl
wheat. No. hard, s1S5@19o; No.
red, $1.s2@1.S7. Corn: No. 2 mixed
95l II @sec; No white. s71s a csc; No.
yellow. 951k q 96c. Oats, No. white
57A @5Sc; No. 2 mixed, 56@57c.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
LIVERPOOL Cotton

Liverpool, November 22-Cotton, spot
weak good middling, 12.49c; middling,
Il 39o; low middling, 12.23c sales, 1000
bales; 500 for speculation and export; re-
ceipts, $4,000 bales; futures quiet and
steady; November, 12.16d; November and
December, 12.14d; December and Janu-
airy. 1214d; January and February, 12.21d;
February and March, 12.26d; March and
April, 12.43d; April and May, 1237d; May
and June, 1242d; June and July, 12.4d;
July and August, Fad; August and Sep
TENDER, 12.O7d; September and October.
II 44d; October and November, 11.27d; Mo-
vember and December, 11.22d.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Live Stock

St. Louis November 22-Hogs: Re-
ceipts, $500; 1Oc to 15c higher; lights,
50. 3O@1o; pigs, s7@s; mixed and butchers,
So 3c@101 good heavy, So, 95010.15; bulk,
50. 5O@1O.
Cattle: eceipts 800; market steady; ma
tive beef steers, s7.50@11.50; yearling
steers and hefers, sS.5O@11.5o cows and
heifers, s5.5O@7.75; stockers and feeders,
S. 300D7. 10; Texas and quarantine steers,
S. SOFAS. 90; prime southern beef steers,
SS@9; beef cows and heifers, $425@7. so;
prime yearling steers and heifers, $500
10; native calves, $6@1l.25.
Sheep: Receipts, $500; strong; lambs,
$75O@11.9 ewes. sS7597.6o; yearlings,
sS@1O
Chicago, November 22.-Hogs: Receipts.
$4,000; unsettled at yesterdays average
to sc higher; bulk, $9@9.S5; light, S.40@
9.65; mixed, $1,000; heavy $9.S@10.05;
rough, $935@9.55; pigs, s6.25dS.So.
Cattle: Receipts, $1,000; unsettled; native
beef cattle, s6.5O@12.05; western steers,
$660a1015; stockers and feeders, $4,000
7.7o COWS and heifers, sS65@13; calves,
$s@1s.
Sheep: Receipts, $4,000; strong; wethers,
ST. 55@S. IS; ewes, s4.4Oq7S5; lambs, $3.50
1900
Kansas City, November 22.--Hogs: Re-
celpts, 10000 &c higher; bulk, s7.5o@10;
heavy, s9.90a10.05; packers and butchers,
ss.7O@1O; light, s9.5oas,95; pigs, $4,000.
Cattle: Receipts, $500, including 100
southern; steady to 10c lower; stockers
and feeders, 10 to 15c lower; prime fed
steers $40 50a1175; dressed beef steers.
81 5o@10. 25; southern steers, s5.75@s.50;
COWS, $475G6.5O; heifers, s6Q1025; stock
ers and feeders, $5.25@7.75; bulls, $525@7;
calves, $6.50@11.
Sheep; Receipts, $500; 1Oc to 15c higher;
lambs. $11@11. 80; yearlings. $S.75Q10; weth-
ers, s750aS.5 So ewes, $6.75d7.75.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
st. Louis Grain

st. Louis, November 22.-wheat, No
2, 1850 1873; No. 2 hard nominate De-
cember, $1.SSss. Corn, No. 2, 8Sc; No. .
white, $1.04A; December, csc. Oats
No 2, $50; No. white nominal; De-
cember, 571sc.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
~ Sugar Market

New York, November 22-The local
market for raw sugar was dull and
nominally unchanged. No confrma-
ton was received of yesterdays rti-
mors of sales of Cubas for prompt
shipment at s 1-5c cost and freight.
but holders again offered supplies Sat
that figure without attracting the in
terest of buyers Closing prices were
SIC for Cubas cost and freight, equal
to 627c for centrifugal and 5.40c for
molasses.
November sold from 5.20csAto 5.08c,
closing 5.10c December, 4.93c to 4.S7e,
closing 4.s9c; January. 4.34c to 4.30c,
closing 1890; May. 4.13@ 4.09c, closing
4.11c
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Osborne win Resign

Washington, November 22.-After a con-
ference late today between President
Wilson and John E. Osborne the As
sistant Secretary OF State and former
governor Of Wyoming, 1t was reported
definitely among officials that Mr.. os-
borne would resign in the near future.
Later Mr.. Osborne said he had not re-
signed yet and had no comment to make
on the report.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Interior Movement

Houston: Middling, 2O.50c; receipts, s5o7;
shipments, II ,036; sales 49S; stock, 276,S64.
Memphis: Middling, 2o.25c; receipts, TO-
096 shipments, 1855: sales, 3000 stock, 247,-
S12
Augusta: Middling, 2o.25c; receipts,
32s7; shipments, 1923; sales, 24o7; stock,
1Ss.943
ST. Louis. Receipts, $685. shipments,
1880; stock, 2,1S5.
Cincinnati: Receipts, 2375; shipments,
1921; stock, 1912.
Little Rock: Middlng, 2O.25c; receipts,
1890: shipments, 1888; sales, 1888; stock,
565S3.
Total today: Receipts, 3o,114; shipments,
26S99; stock. 745,029.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
Metal Market

New York. November 22.--Copper
firm; electrolytic, first quarter $3.50 q
$3.50; second quarter. $31@33. Iron
steady and unchanged. Metal exchange
quotes tin strong; spot, s4550@46. At
London. spot copper f144; futures. f139
los; electrolytic, f164; spot tin, f191;
futures, f193. The metal exchange
quotes lead $7.12k@7.27. Spelter
strong; spot, East ST. Louis delivery,
1925 @12%c. At London, lead ESQ los.
Spelter, EAT S.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
E. F. Hutton & Co.'s Stock Letter
- ,r;x

wires:
New York, November 22.-General
realizing of top heavy longs, bearsh
sentiment with short selling, Dues
ton whether the recently discussed
copper merger will ever eliminate and
the torpedoing of the Britanic further
unsettled the market and caused the
first real break which we have for sew
eral days past anticipated. Whether
this decline may go further is surely
a question of the marginal stability in
open accounts. Despite the liquidation
Of the past few days, brokers leans
are still high and we may have further
liquidation before an advance.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-23
English Money

London. November 22-Bar silver,
"a 1850 per ounce. Money, AZ per
cent. Discount rates: Short bills, ia
@5sa per cent; three months. 51h @5%
per cent.