davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
WET WEATHER AND
SCANTY RECEIPTS
SHOOT UP GRAINS
Both Corn and Oats Stiffen,
While Provisions Varied
From 10 Cents Off to
as Cents Up

Chicago, October 16.--Corn tended
upward in value today as result of
wet weather and scantiness of rural
offerings. The market closed firm at
u to 1sc net higher with December
1.22% to 1.227s and May 1.21X oats
gained Il OK to Nc. In provisions the
outcome varied from loo decline to 45c
advance
Rains put fresh strength into the
corn market at the outset, but soon
afterward the effect was temporarily
counterbalanced by an official forecast
OF clear skies and lower temperature.
Weakness OF foreign exchange and
of quotations on hogs counted also in a.
transient way against higher prices for
corn
Later, however, the attention Of the
trade focused more and more on re-
ports that farmers were showing an
evident bias toward holding policy,
and were putting stress on the relative
high cost of other commodities than
grain. Covering by shorts ensued. and
the market was bullying somewhat at
the last in the absence of an pressure
to sell Buying on the part of houses
with seaboard connections helped to
strengthen the oats market.
In oats as well as in corn the country
was not selling freely,
Provisions averaged higher chiefly
on account of opinions that semi
monthly statement of warehouse stocks
was bullish.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Iron and Steel Review

Gle, e,and, o.. October 16.-Strike inter-
garded as major factor in iron and
steel production in certain districts. GEN
orally more progress has been made the
past week in restoring former activities
of mills and furnaces than in any similar
time since the walkout of the workmen.
A good many plants have reached or are
approaching the stage of operations in
effect at time of the strike. This does
not represent capacity output, however.
since shortage of labor in various cases
then was felt, and developments of last
week have not contributed to improve
this situation. With the steel strike well
in hand, producers are giving serious
consideration to effect Of possible sus-
pension in coal fields November /.
The largest sheet maker began the week
with rs per cent Of capacity active, and
some additional mills have resumed since.
It's tin plate operations are around IS
per cent. Independent sheet and tin plate
plants are up to about rs per cent of
rate of output prevailing before the strike
The Carnegie Steel company has in
creased the number of blast furnaces in
COMMISSION SfnCe lnc OutDTedh Oh the
strike from 20 to IS. Ship work is call
ing for some round tonnages of steel
and the prospects of plate market cor
respondingly have frightened. New con-
tracts tentatively or actually closed with
four or five eastern yards call for % to
60 vessels. They represent a requirement
of 1900 to 100000 tons of steel. Pacific
coast yards are inquiring for 10000 tons
of ship steel at Chicago with some
of the merchant furnaces still banked
and unable to ship promptly. Pig iron is
scarce and the market has moved up
wards, s26.75 being furnace price for this
year and first half of next, which still
was quoted by important lake interests.
disappeared this week. Export sales are
we'll maintained, it is estimated, around
400, 900 tons per month. Sheets and wire
for overseas shipment are scarce and
premiums of So to $ a ton are being paid.
Inquiry from Japan alone total 5000 tons
Of basic pig iron. Orders for shipbuid-
ing material placed by Japan this year
are estimated around 100000 tons A TO-
900 to 15,O0O-ton bridge over the Danube
for Roumania is expected to come to this
country.-The Iron Trade Review.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
New Orleans Cotton

BY Associa-ed -ress
New Orleans, October l.-Sman adj
vances were made by cotton today, the
market being held down by the constant
liquidation coming from owners of long
contracts who wanted their profits.
Values were sustained by the extremely
bad weather and crop accounts from the
western belt tonight. Closing prices were
at net gains for the day of 20 to Is
points.
The opening was higher in response to
better cables from Liverpool than due
and the rains on the weather map At
an advance of g to 30 points the mar
ket hesitated and reached to lower levels
and from then on during the remainder
I of the day fluctuations Were rapid but
rather narrow The disposition on the
short side was to attack the market on
the grounds that it held large and I'M
wieldly long interest, but fresh buying
always came in on the soft spots because
of the private accounts of crop damage,
such as sprouting of seed in the boil. rot
ting of bolls and of crops being washed
out by overflowed streams, Texas send
ing in the worst messages and even re-
porting light SHOWS at one point. Late
in the afternoon the most active period
of trading occurred and prices at one time
were 30 to 50 points over yesterday $
close and at another were 2 to Is under.
The tone was very steady on the close
with October at 1850.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Shannon & Co.'S Letter

/ New York, October 16.-Sentiment has
been reactionary with local traders in
clined to play for break because they
believe that the market is in weak
position technically, and that the volume
of hedge selling by the south will con-
tinue to increase with further advances
and at some point result in very sharp
il only temporary decline. Wall street,
| however, were selling during the late
trading, supposed to be acting on that
principle, and on advfccs from the Caro-
| linas that the spot demand is slacken-
| ing While that may be true in some To-
calities for the moment, many in the
trade feel that the edge is by no means
off the anxiety about obtaining satisfac-
tory grades, and that the demand for that
character of cotton will continue very
much in evidence all through the season.
Exports were q, 200 bales. and are IS 600
so far this week, against s. 900 for the en-
tire week last year. It is reported that
the House has passed the resolution for
another condition report on November
e. giving the condition as OF October 25
Many feel that the figures will be ex-
tremely bullish If private advices are
anywhere near correct. There will. how
ever, be nothing with which to compare
| it unless it includes an estimate of the
yield.
Early sellers were buying toward the
close and found very little for sale
Post & Flagg.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Duggan & Bouden's Letter

New Orleans, October 16.--Torrents OF
rain in the western belt, rumors of light
snow in some localities and cold wave
on top of it all served to give the cotton
market a very steady tone today and
to sustain values at small advances in
spite of the constant profit taking from
satisfied longs as the situation now
stands there is the technical position
the market is in on the one hand and
the damage still being done to the crop
on the other. Liquidation should make
for recess. but 1t looks as If the effect
of the bad weather should make for
higher level in the long run.
kilograms received here during the
day stated that light snow was falling
at Ennis. Texas. Frost is predicted to
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Over Private Wires
S. R. Stewart & co. I ettet

New orleans, October 16.-Liverpooi
closed today with spots 20 points down
but sales of $4,000 bales. That mar
ket must keep its price wen up to
draw cotton from this, side First
trades in our market were 20 to IS
points advance on the strength of Liver
pool and the weather and spot situa-
ton here, but the rally early attracted
liquidation and there was large hedge
selling movement. which brought a
reaction, from which the market buick
~ recovered. The market ranged with
in a limit of 40 to so points and closed
very steady 25 to 80 points net higher
than yesterdays close.
Spots were IS up; middling s5.25c;
sales 1878 bales. other port and in
terror markets were steady with a
fair business done at unchanged to so
points higher values.
The distant months continue
under some pressure of hedge selling
and look an attractive purchase when
compared with December and consider
ing the probable small supply of ten
derable cotton.-Jno. +. Clark & Co.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17

New York. October 1s.-Although ths
weather showed little If any improve.
ment. the heavy selling OF hedges yester-
day and today made a great impression
upon our local trade, who felt the reae-
ton yesterday afternoon indicated that
the southern planter was selling too much
cotton for the market to digest on the
advance. They have. however been act
ing on this theory all day, while the buy
ers have been the spinners who have
taken many contracts today. Another
crop estimate was authorized by the
House of Representatives to be issued on
November 3. This action served to create
a temporary upward movement, as 1t
was expected to be below 100000 bales.
At the same time ideas were expressed
that such an unusual action might mean
that the market was high enough on this
basis.-Hubbard Bros. & Co.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
MONEY MARKET WAS
IMPORTANT FACTOR.
AMONG BIG TRADERS.
Stocks Fell Back at First
Sign of Money Tightening
and Market Relapsed
Into Dizziness

New York, October 16.-The money
mount Importance on the stock ex-
change today, all other considerations
being subordinated to the more rigid
tendencies manifest in that quarter. For
the firts time in many months call
money opened at 10 per cent with an
eager inquiry for time funds at z per
cent and little available at that figure.
The call rate held at 10 per cent
throughout the session, but greater
care was exercised respecting the char
acter of the collateral
Financial interests stressed the fact
that brokers' loans were again at the
high peak of the midsummer, while last
Saturdays clearing house statement
disclosed new high record for actual
loans and discounts at SIS, 433, 600. 900.
Stocks were firm to strong at the out
set but fell back at the first indications
of tighter money, the market lapsing
into dizziness during the intermediate
period.
Heavy selling, which bore the marks
of bear pressure, occurred in the last
hours, leaders being forced to lowest
sued on the further activity and
strength displayed by various special
ties, final quotations in many instances
showing rallies of 2 to points.
Several speculative issues achieved
the distinction of scoring new maxi
NUNS, notably Bethlehem, Chandler,
Pierce Arrow and Republic Motors,
Remington Typewriter and American
Ship and Commerce, a newcomer on the
board Extreme gains in these stocks
ranged from to almost IL points
Foreign exchange continued to move
against London and continental CEN
ters, a new low record being reported
for Austrian remftances.
Liberty 315 s again featured the bond
market on their further advance to 101,
the years best price. Foreign issues
were steady but the general domestic
list eased. Total sales (par valueJ ag
gregated $14,750,000 Old United States
bonds unchanged on CALL
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
w. E. Campbell & Co.'S Cotton Letter

For the past two days the market
has had the vacuum clearner applied
to 1t by the whole cotton world. Re-
dictionary ideas has been the most popu-
lar thought handed out to the trade
by both New Orleans and New York
II ever a set OF men tried to depress
the price of any commodity. the bulls
as well as the bears have tried this for
the past AS hours with the result
what? The market closed well above
81 cent level with spots in New Orleans
marked IS points advance with sales
of 5,6TS. Our advices from our various
spot friends throughout the belt Is still
very flattering. showing an urgent
scramble for better grades with rain
falling in Texas and still doing damage
to the grade.
Tho writer knows of at least $4,000
bales of cotton that was thrown over
board around the opening by scared
bulls and we dare say this same pro
cedure hasc been going on from other
sources during the day and there is
but one answer to this and that is-the
market Is technically healthier tonight
than for some time past and we predict
this same outfit that sold will rebuy
at much higher prices.
We remain of our same opinion, this
market is going much higher and feel
IL safe to buy at these levels and on
all small recessions.--w. Z. Campbell
and Co.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Thomson, Parker & Co.

New Orleans October 16.-During the
greater part of today's session the cot
ton market held very steady at small
advances as the result of new buying
caused by the sensationally bad ac-
counts coming in from the western
belt and mainly from Texas. Much real
izing came from the long side and under
1t there was a couple of periods of re-
csding values but it can hardly be said
that any real weakness developed In
the early trading prices were IS to 30
points up. from which realizing carried
the market off until the most active
months were to points under close
of yesterday. New buying came in and
the market bulged until it stood at net
advances of so to 32 points. Late in
the session prices were down again, al
most to the level of yesterdays close.
The market closed at net gains of
20 to rs points-Shepard and Gluck.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Port Cotton

| New Orleans: Mjddling, 35.25c; re-
ceipts. 1898, sales, 1913; stock, $780,
l753.
Galveston: Middling. ss.75c; receipts
21.s1s: exports. 1854; sales, $3.50
stock. 1856
Mobile: Middling. 34.50c: receipts
202. sales, zoo; stock. 11,134.
savannah: Middling, 3475c; receipts,
Ssc9: exports. 11.7e0; sales. 1920; stock,
267.S92.
Charleston: Middling. s4c; receipts,
1921; stock. 1888.
Wilmington: Middlihg, Ss.50c; re-
ceipts. s13; stock. 1896.
Texas City,: Receipts. 5SS. stock. H.
Norfolk: Middling. sac; receipts.
1858; sales, 1907; stock. 1925.
Baltimore: Stock 4204
Boston, Middling. 34osc; receipts,
100: stock. $780,
Philadelphia: Middling, 35.30c; stock,
1928.
New York: Middling. s5.o5c; stoek.
oa.s54
Minor ports: stock. 1868.
Total today: Receipts. 1906; ex-
ports, 1884: stock, 1.013.751.
Total for week: Receipts. 1Ss,474;
exports. 94.043.
Total for season: Receipts. s14.oeo;
exports. 907.111.
Interior Nov ement
Houston: Middling. $780, receipts,
-ses7: shipments. 1888; sales. 1909:
STOCK. 147.464.
Memphis: M!ddling. sec; receipts,
1917. shipments. 1909; sales. $500 !.
stock. 154.413.
Augusta: Middling. s4.3sc: receipts,
$3.50: shipments. 271s; sales, 1861;
stock. 1929.
St. Louis: Middling. S5.5oc, receipts
437: shipments. 77s; stock. 49aa.
Little Rock: Middling. $3.50; re-
ceipts, 22S0: shipments. 1866; sales.
1856; stock. S4.115.
Total today: Receipts, 24.515. slip
ments, 1880; stock. 5s5.i95.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17

New York, october 16.--In response to
bullish cables and sales of 5000 bales,
opening prices showed an advance of AZ
to so points. From this time on, how
ever, the market lacked pep and bulls
took profits freely. The lot of the bear
on cotton is not an easy one. even the
weather bureau is against him, and people
who talk of an open winter are objects OF
sarcasm. AS long as the big sales con-
tinue in Liverpool. just SO long will the
market be a bull proposition.-Clark& Co.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17

futures here today owing to the continued
flrmer ruling of Brazil, smaller Brazilian
receipts and talk of an improving trade
demand. The opening was Is to 26 points
higher and realizing sales were readily
absorbed during the middle of The day
with prices reaching the highest points
in the late trading, when December sold
at 1615c and May at 1860. or 70 to Is
points net higher. Houses with cotton
trade connections were among the buy
ers, while there appeared to be a broad
ening commission house interest from
other sources, and there was also con-
siderable trade buying on the advance
The close was a shade off from the best
under realizing. but. showed a net gain
of So to "a points. Closing bids: October,
1890; December. 1614c; January, March,
May, July and September, l6.04c. u
Spot coffee quiet; Santos As, 251xc; Rio
rs. 16%@16Ac. Cost and freight offers
from Santos were about unchanged, rang
ing from 6%c to &c. Few If any fresh
offers were reported from Rio with the
market quoted about 1Sc to 1880 for
rs, London credits.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Oliver Valves Examination

Mobile. October 1s-(Snecia al y Merritt
Oliver held here on the charge of riding
on railroad pass issued to another man.
waived examination when called FOR a
khearng and will be taken TO Birin-
ingham, his home, where the warrant for
his arrest was issued. He was returned
to jail until his transfer The. pass was
issued to George Smith of Birmingham,
who Is also held on the same charge.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
RENEWED SELLING
MET EARLY ADVANCE
IN COTTON MARKET
List Closed Steady, Net I'm
changed to "a Points
Higher on Present
Crop

New York, october 16.-An early adj
vance met renewed realizing or selling
for reaction in the cotton market to-
day which sent December contracts off
from 1850 to S4.1Sc or points under
last nights closing quotation, That
delivery closed at 34.52c with the gen.
eral list closing steady net unchanged
to "a points higher on present crop
positions but 70 points lower on August
and September.
The market opened firm at an adj
vance OF 81 to so points on unexpectedly
firm Liverpool cables, an unfavorable
weather map, and reports of continued
active spot demand in the south.
There was a good deal of realizing
and considerable southern hedge sell
ing which caused reactions of 35 to 40
points right after the call, but this
decline was checked by the western
belt forecast for frost in Oklahoma and
parts of Texas. Buying was also en-
couraged by reports of an increasing
demand for cotton goods but the market
met more pressure as prices worked
back toward the early high level. and
the market became easier during the
afternoon.
Local map readers doubted whether
the cold snap after the rains in the
western belt would bring killing tenn
peratures to the belt and sellers pre-
dicted <ull in spot demand after the
heavy buying of the past four or five
weeks. Houses with Wall street con-
nections were prominent sellers proba-
bly,, reflecting the easier ruling of the
stock market and rumors of less favor
able turn in the Presidents condition.
October sold off to 1870 and January to
assoc, but the close was several points
up from the lowest on covering. Wash
ington advices stated that the House
had passed the resolution calling for
another crop report from the depart
ment of agriculture on November 2.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Hubbard Bros. & Co.

Cotton Merchants, Hanover Square, New
York Members New York Cotton Exchange.
New Orleans Cotton Exchange, New York
Produce Exchange. Associated Members Liy-
erpool Cotton Associations Orders soliciteI
for the purchase and sale of Cotton am
Cotton Seed Oil Tor future delivery. Special
attention and liberal terms given for con
signment of spot cotton for delivery. Ger
respondence invited
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Rice Market

New Orleans, October Through rice
strong at the advance; sales, ZOO Hon
duras AT &c; 565 Japan at 10.75c; ga Blue
Rose at 10l11c; 800 Louisiana Pearl at
10. 50@1lc; 422 Carolina at 9.25d10. SOC.
Receipts, 9109; milers, 6293 sacks. Clean
rice strong; sales, 1915 pockets Honduras
at 5ts@12c; 7e pockets Japan at lossc;
1896 pockets Blue Rose at 5H@1fhc. Re-
ceipts, 1894 pockets.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Naval Stores

! Savannah, October 16.-Turpentine firm:
sl.61 sales. go; receipts, 13s; shipments,
21; stock, 773o. Rosin firm; sales, 95; re-
| ceipts, $685. shipments, 30 stock, 1922.
Quote: b. s1s.75; ~ ST. e, $3.50; F, s17.75;
G, Fl. $1s.o5; 7. sl9.35: X. 1895; M. 5000;
N. s2l WIG, So; WV. $3.50.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Chicago Futures
Cash Grain

st. Louis October 17.-Corn, No. yell
low, 81. f&1.4ils No. 8 white, $780,: De-
cember, s1.24A. Oats. No, 2. 6S@6S1ac; No.
8 white, 701t@T1c; December, Tic.
Chicago, October 16--Corn, No. mixed.
s137: No. . yellow, 81. sS@f. AZ. Oats. No. 2
white. 7l1s@721kc; No. 8 white, 6Si5@11c.
Rye, No. 2, 81. 361A: barley. 81. 2011.s4. Tim
othy, $S50a11.25: clover nominal Pork
nominal; lard. s29.57; ribs, SIS. 2591s.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17

Liverpool, October 16.-Cotton, spot in
increased demand; prices lower; good
middling, 23.41d; fully middling, 22.sld;
middling, 22.11d low middling, 2o.26d;
good ordinary, 1S.31d; ordinary, T.Sld.
Sales 1900 bales. including $500 American;
receipts 1900 bales, all American. Futures
closed steady; October, 22.20d; November,
%. I'D; December. 219Sd; January. 2.72d;
March, 21.29d; May 2o.96d; July, 2066d.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Spot Cotton

New Orleans, October 1s.-Spot cotton
steady, Is points higher. Sales on the
spot, 2s7s; to arrive, 2797 Low midding,
90 Zoe; naiddling, 35.25c; good middling,
se.5oc Receipts. 5ss3; stock. 2So,753.
New York, October 1s.-Spot cotton
steady; middling, 35.05c.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17

BIZ Nss5cistnE PFess
New York October 16.-Cotton goods
markets were very strong. large contracts
being made for deliveries on print cloths,
sheetings and convertfbles for deliveries
extending to April 1. Jobbers are buying
bleached cottons freely Burlaps were
strong, with prices advancing. Raw silk
and thrown silk advanced after a fur
Their rise in Yokohama
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Bank of England

London, October 16-The weekly state
ment Of the Bank of England shows the
following changes: Total reserve in
creased e656 900; circulation decreased
sol .000 bullion decreased f44S32; other
securities increased fS9o 900; public de-
posits decreased e925,0o0; other deposits
increased 43Oi479, 900; notes reserve in
creased 97o1 900; government securities
decreased s2e 900. The proportion of
the, banks reserve to liability this week
is ts.7u per cent; last week it was 1915
per cent. Rate of discount, S per cent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Money Market
pn AssasiaAaa Rsasa

New York, October IS-Mercantile paper,
5651a per cent. Sterling 6o-day bills. s415;
commercial 6o-day bills, H.15;- remand.
commercial 6O-day bjlsl, Sab; demand,
81 1914; cables N.17H. Francs. demand.
S75: cables, S73. Guilders. demand. s75s;
cables, 2S1ls. Lire, demand. 10.16;s cables,
1914. Marks, demand. lilo; cables. S%.
Government bonds irregular; railroad
bonds heavy. Time loans strong; co days,
80 days and six months. per cent bid.
Call loans strong; ruling rate, 10 per cent;
bank acceptances., rs per cent. Bar sill
yer, $1.1Sh; Mexican dollars, s21Ac.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Bank Of France

BY Assseiafed Press
+ Paris. October 16.-The weekly state
ment Of the Bank of France shows the
following changes: Gold in hand in
creased 355, 94S francs; silver in hand de-
creased 1884 francs.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
Potato Market

Chicago. October 1S.-Potatoes steady;
arrivals 70 cars northern whites, sacked.
s2.l5@2. IS: bulk. s20e.2G: early ohios. N.75.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-17
New Orleans Futures
BY Associated Press

New Orleans, october 1e.-Cotton
closed very steady at an advance OF 20
to 2s points,