davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1920-10-10
COTTON GOODS REVIEW
Rx Associated Press

New York. October 9.-Readjustment of cotton prices on lower levels is still go- ing on and trade is very light and of an uncertain character. Very few contracts are being entered and much confusion still exists consequent upon cancella tons. requests for rebates. and the re- turning of goods purchased. One large house has revised the price on denins to basis of 321s cents, and other heavy eolored cottons are being reduced from 20 to 25 per cent from the top prices of the year. Prints and percales. bleached n,uslins and some other goods are vet to be revised to bring values on a parity with gray goods and cotton yarn mar kets.
 Print cloths have sold at the lowest levels quoted in more than year while further declines are noted on some sheet rgs for bag purposes and converting. Cotton flannels have been repriced on a basis of 3sis per cent down in some instances. An auction sale Nof cotton blankets brought prices ranging around 55 cents pound
 Cotton yarn markets are still dull. with prices weak and on level below the cost of replacement in many cases.
 Substantial price reductions have been made in prices on underwear and hosiery. yet thus far buyers have not taken hold Curtailment of production in mill ceA- ters has increased steadily this month due to a lack of orders and the in- ability of mills to show any profit at many of the current prices Cotton mar lxets are still unsettled and that adds somewhat to the uncertainties of the trade
The Birmingham age-herald., 1920-10-10
New York Futures D.. A..A,snkAr Drnec
New Orleans Cotton


 New Orleans, October 9.-Pronounceo weakness featured the trading in cottcn today, heavy selling starting on the buy ing and pressure being felt in, the late trading as the result of the statement by Governor Harding of the federal re serve bank that the bank was not estao- lished to assist plans for holding com modites off the market At no time dli the market show much of any resistance to the selling, and it's lowest levels were reached toward the close when the trad ing months were 70 to 76 points under the final prices of yesterday, with De- cember down to 2o1ec and May down to 1937c Last prices were at net losses for the session of 50 to 67 points.
 Selling was further increased by the dry weather over the entire cotton re zion and the forecast of fair weather for every state in the belt, the conclusion be- ing that picking was going ahead fast and that cotton was piling up in the h- terior The movement to check ginning attracted some attention. but was hard ly a market influence.
 Early declines were probably made all the wider by the weekend reviews of trade in general. which claimed that buyers in most lines of merchandislns were still holding off in hopes Of even lower prices than have vet been named
The Birmingham age-herald., 1920-10-10
Weekly Financial Review
By Associated Press

New York. october 9.-Further
 cleaves in value in railroads and in
 dustrial issues characterized a mod
 erately active week on the stock ex- change The movement. as viewed by impartial observers. derived much of it's acceleration from additional com
 modity price concessions
 What the stock market lacked in stability was largely balanced by the bond market. Increased business in that quarter was regarded as natural corallary of the broadening of the cam paign of retrenchment.
 Although there has so far been no actual reduction of money rates, ex- tension of the economy movement al ready has had the effect of lessening the strain of credits. inasmuch as it now costs merchants and manufactur- CTS less to do business.
 Reasons for moderate optimism at least were offered by the quick almost eager response of investors to num- ber of new capital flotations. mainly , short term notes. by various domestic and foreign railroad and industrial corporations at an average return of about eight per cent.
 In the industrial field there were signs that the waiting attitude of cont sumers of steel. iron, copper and sundry finished products would soon find more definite expression in lower prices. Ad- vices respectful the motor. textile and leather trades pointed clearly to fur ther curtailment of operations and re- duced inventories.
 The coming week will witness the
 maturity and payment. barring unfore- seen circumstances. of the first of the
 very large foreign underwritings placed here during the early part of the war the Anglo French $500. 100000 loan. In the same period also It Is expected
 that the foundation will be laid here
 for the financial and general upbuild-
 ing of the Chinese empire by the most
 powerful banking groups of the United
 states. England. France and Japan. It is calculated that 150.0o0 automobile
 tires are turned out every day in the
 I-nited Slaies
The Birmingham age-herald., 1920-10-10
Atlanta Reserve Bank

Atlanta, october e.-Following is the statement of resources and liabilities at the close of business October s:
 Resources-C1old coin and certificates in vault, 7.54S ,617,6 gold settlement fund s6 Ss5 ,s31 .eS; gold with foreign agencies B ,a22, ,79955; gold with federal reserve agent. s52. .553, 540: gold redemption fund, S.540, 355 .13; total gold reserve, $77, ,25l.- l43 .aS. Legal tender notes. silver. etc, $1.- ;9S, .53.70 Total reserve. SIS 649, S97 6S. Bills discounted: Secured by government war obligations. s65, ,713, Gs5 .5i; all other SC, ,9SS. .04S .53; bills bought in open mar lSet, $2, 3S3 214.19, Total bills on hand $125.- 0S9, 298 g United States government bonds, s113.7O0; United States Victory notes, s2,eoO; United States certificates of indebtedness SIS .66S, 20. .75. Total earn ing assets. $l40.S1411s.9S Bank premises. 06.22, ,6l9. .46; uncollected items and other de- auctions from gross deposits. s3D.111..- 34e.S1. per cent fund against federal reserve bank notes, s526, ,55o: all other resources, sl79,263 14 Total resources, S251, ,624, ,296. .07.
 Liabilities-Capital paid in. $3,92S, $50; surplus. s7,050000; government deposits si S67 .92O. 04: due to members, reserve ac- count $49,O66. 635 .6S; deferred availability items, $25 5560, ,263. B: other deposits, includ- ing foreign government credits, $422 793. 40. Total gross deposits, E69l7. .6l2 90. Federal reserve notes in actual circulation, H41.- SSa, $40; federal reserve notes in actual circulation, sl3252. $50; all other liabilities, E 5sl, 743.71 Total liabilities. s5l 624 ,296 .01
The Birmingham age-herald., 1920-10-10
FEDERAL RESERVE BANK

Washington,t October 9.-The weekly statement of the combined resources and liabilities of the twelve federal reserve banks follows:
 Resources: Gold and gold certificates, sz16, ,736, ,00O gold settlement fund, federal reserve board. $39l, ,974, 900; gold with for eign agencies 80. 4c9, ,0Oo total gold held by banks, se99, 146,000; gold with federal reserve agents, s1,142.0i12, 900; gold re- demption fund. $154,7es,ooo; total gold re- serves, s1, ,996, 324, GOO: legal tender notes, silver, etc, $t61 ,944,0 GOO; total reserves, g. .15S, ,26S GOO; bills discounted, secured by government war obligations. s1,217, ,09S, 900; bills discounted, all other, $1,578 ,51S,0O0: bills bought in open market, $305 69p coo: total bills on hand, $3.101. S61 GOO: United States government bonds, s26, ,S56, 900; Uni ted States victory notes. $69, GOO; United States certificates of indebtedness, s179, 251 00oC; total earning assets, s, 402, 237 900: bank promises, $15 .634 coo uncollected items and other deductions from gross deposits, s795, 723, 900; per cent redemption fund against federal reserve bank notes, s11, ,666, ,0Oo; all other resources, 4S33, 900; total resources, $4.399 161, 900.
 Liabilities: Capital paid in, $97 7,519,000: surplus, $164. .745,000; government deposits, A3,365, GOO; due to members reserve ac- count. s1 ,S25, 900; deferred availability items. s609 980, 000; other deposits includ- ing foreign government credits. s27 GAS, ,000; total gross deposits, s25Os, ,ss9. 900; federal reserve notes in actual circulation, B. 322, 123,00o; federal reserve bank notes in circulation, net liability. s2i3, ,154,0O0: all other liabilities. $S4921 600: total liabilities s6, 3S9. 361 600; ratio of total reserves to net deposits and federal reserve note liabil- ties combined, 42.9 per cent: ratio of gold reserves to federal reserve notes in ciruc- lation after setting aside B per cent against net deposits liabilities. 469 per cent
The Birmingham age-herald., 1920-10-10
CLEARING HOUSE BANKS
By Associated Press


 New York. october 1.-The actual condi- ton of clearing house banks and trust companies for the week shows that they hold $36. .199 9SO reserve in excess of legal requirements. This is an increase of N7,- 245S3o from last week.
 The statement follows:
 Actual condition: Loans, discounts, etc, increase S2S, ,923, ,Oo0; cash in own vaults. members of the federalt reserve bank, in- crease S9. .SS2, ,D0; reserve in federal reserve bank of member banks. increase $47,3A,- 000: reserve in own vaults, state banks and trust companies. increase sS40.oo0: net demand deposits. increase s9,S29.gJ-: time deposits, decrease s2790,G coo: circulation. decrease s62t 900; excess reserve, increase s47. .243,s3o.
 Summary of state banks and trust com panies in Greater New York not includ- ed in clearing house statement
 Loans. discounts, etc, decrease S-,5a-,- TOO: gold, increase $l0l, 800; currency and bank notes, increase $52a5oO deposits with federal reserve bank, New York. increase s576. GOO: total deposits, decrease E. ooo; ; dominating amounts due from reserve depositaries and other banks and trust companies in New York city and United States deposits. decrease s4s9. 100. Banks, cash in vaults s27. sl,5Oot trust companies cash in vault s5o.5 900,
The Birmingham age-herald., 1920-10-10
PRESSURE OF HEDGE SELLING CAUSES A
 DROP IN COTTON
At the Close the General List Easy at a Net Decline of Forty to Seventy
 Points
Ky Associat.d press

New York. October 9.-The cotton mar ket was generally weak and lower this morning, owing to increased pressure of hedge selling, unfavorable goods trade conditions and reports of good weather in the south. December contracts, rep resenting the favorite hedge position at present, were relatively weak, selling off to 2.9oc, or II points net lower and Z cents q pound belowe the higher price touched on the midweek rally, while May broke back to the twenty-cen level, or even with the previous low record. December closed al 20.95c, with the gen eral market closing easy at net de- cline of 4D to 70 points.
 The market was easy from the start. First prices were points higher on Oc- tober, but generally to q points lower, and October soon eased off with the rest of the list, selling about 50 points below last nights closing late in the morning. The largest spot sales reported in the southwestern spot markets late yester- day were supposed to be reflected in the greater activity of hedge selling here sort continued until the close of the market at midday. This pressure, con- bined with the gloomy character of the news from the goods markets and be- lief that new crop cotton must be pill ing up rapidly in the south because of favorable picking and ginning conditions, evidently discouraged midweek buyers, and part of the liquidation came through the execution of stop orders January sold off to 20.45c, or within 9 points of the low record established last Monday, and closing prices were at the lowest Of the day on most of the active positions. Manchester advices said curtailment Of British weaving mills in the Lancashire district was increasing, and reports from New England forecast heavy domestic mill fcurtailment for the coming week. The main influence of the day, however, was considered the southern selling. It is reported that spot handlers are will ing to buy freely at the present basis, but that they are selling future against the cotton as rapidly as they buy it.
The Birmingham age-herald., 1920-10-10
And ILearned About
 Oil Wells from Him

THE TRUTH ABOUT THE OIL BUSI- NESS" is a 2s-page booklet which it might Pay anyone interested in any oil company or few of the chapters are headed: How Long Is the Life of Oil We'll" About Buying o,l Stocks" "A Warning" "A Highly Tech ton, Wildcat as Distin guished from False Oil Companies" Basis of Volume of Ol Production" Do Not Be Misled By Susher Talk, Some Investments to Avoid" !"
 oil Terms Explained" What Must Be Earned to Make Stocks Worth Par" etc, etc
 copy of this interesting booklet sent gratis and without obligation upon request. Surrier and Co. 600-11 Republic Bldg, Kansas City, Mo.
The Birmingham age-herald., 1920-10-10
PROFESSIONALS IN EVIDENCE ON WALL
 STREET YESTERDAY
Selling Continued to Center In Secondary Oils, Rails and ShippingS, Making Little
 Impression
By Associated Press


 New York. october 9.--Professional pressure against speculative issues of various description featured the stock market today, bears availing them elves of the short session and next weeks holiday to effect further price depreciation.
 Selling continued to center in the secondary rails and oils, also shippings, but made no little impression among independent steels, equipments, motors and their specialtes food shares and many miscellaneous issues. Texas and Pacific, which has been under fire recently. made further de- cline of s. or total of almost twen- ty points for the week, and Wisconsin Central broke seven point on few sales, other transportations, including standard rails, losing one to almost two point.
 Last weeks deficit of actual reserves by clearing house banks was corrected today that item increasing by slightly over $47, ,000,0 900. leaving a little over $36.o00, 900 in excess of legal require- ments
 Actual loans and discounts continued to expand. however. an increase of $29,000,000 lifting the total to the new high record of the year of $5,453 3699,- GOO. Reserves of clearing house mem bers at the federal reserve bank were increased by about $47 735O,0 900.
 The September tonnage report of the United States Steel Corporation was in line with forecasts disclosing de- crease of 430,234 tons In thrilled orders and reducing bookings to the level of last April.
 Bonds were irregular and relatively inactive, Liberty issues and railway convertibles forfeiting more of their recent advances. Total sales, par value, S5.575,000
 Old United States bonds were un- changed on call during the week
The Birmingham age-herald., 1920-10-10
SHORT TERM SECURITIES
By WARD. sTERNE X co.

Recently, in response to the economic principle that as commodities fall in price bonds rise, the trend in all in- vestment securities has been upward. During the week there were three very succcessful new flotations Monday, Sol way X Co brought out a Seven-year 5 per cent $1o,G00OD0 issue, which was inn mediately absorbed Tuesday, Swift x Co.'S s40,000,00 five-year issue was offered for public subscription to yield 7.60 per cent, and at o'clock the following morning the books were closed, the issue having been oversubscribed: Wednesday, the Grand Trunk Railway of Canada, Canadian National Railway system, twenty-year per cent issue, payment of which is guaranteed by the Dominion of Canada, was quickly absorbed at par.
 Saturdays quotations. covering a num- Der of issues actively traded in in Bir- mingham are shown below:
 GOVERNMENT
The Birmingham age-herald., 1920-10-10
Chicago Live Stock
By Associated Press natAh A GA4l

Chicago, October 9-Cattle: Receipts, 5,oW, compared with week ago; pest steer 3c to Soc higher Others and she stock unevenly 75c to s1 50 stronger Can- ners, 5oc higher. Veal calves, 5Oc lower Good calves and bulls Soc to 75c higher. Stockers and feeders 50c to q higher Western mostly $1 to $150 higher
 Hogs: Receipts, 20,0Oo; active; mostly l5c to 25c higher than yesterdays av- craze; top, si6. 25; bulk lights and butch CTS, S5l 60G16. 15; bulk packing sows, s14. .40d14.75; pigs steady.
 Sheep: Receipts. 1000 25s higher than extreme low close week ago. Aged sheep and yearlings, feeding sheep ana lambs about steady as compared with week ago.
The Birmingham age-herald., 1920-10-10
Money Market

Ny ASSOCIat6U PreSS
 New York, October 9.-Prime mercantile paper. 8. Exchange irregular. Sterling 6o-day bills 3.45a4 cimmercial 6o-day bills on banks, 3.4sA commercial 6o-day bills, 345A; demand, 3.5OA cables. 3.51 Francs, demand. 66S; cables. 670 Belgian francs demand, TOO: cables, TOP Builders, de- mand, S1.0o; cables. 31.10. Lire, demand 4N; cables, 4.06. Marks. demand, 1.5S; cables, 1.59. Greece, demand, 1922; New York exchange on Montreal. s 3-16 per cent discount. Government and railroad bonds easy.
The Birmingham age-herald., 1920-10-10
ALL GRAINS PRIMER
 ON REPORT SMALL
 WHEAT ESTIMATES
Bulls Receive An Early Set back When Shorts Began to Cover, But Came Back
 Later
By Associated Press

Chicago, October 9.-AlI grains were firmer today on the Chicago Board ot Trade. In wheat. the government figures created sentiment favorable to the bulls and enough of a revival of export buying to be noticeable. Light country offerings helped the steadying influences in all grains. Wheat scored net aG- vance of cents, with December clos ing at s.sS9s@1.s9 and March sl.s5al 551A In corn, December wound up at a net gain of half a cent and oats gained 9sc to 5sc
 First attempts of the bulls to stiffen the wheat market received an early set back when shorts started to cover. After that furry however, there was a steady trend to the market. Some east. ern selling was noted on the bulges, but early general buying by commission houses helped sustain prices. There was some buying by commission houses here and in the northwest to correct an error made yesterday on order to sell. Trade was not large, but there was less pressure all around than had been mo- ticeably recently Foreign demand con tiued to be centered in the Canadian market.
 Corn fluctuated rapidly and scored new lows for both December and October. A better cash demand and the effects of short covering soon changed this condi- ton, however, and following the lead of wheat, the close was well above the minimums. Trade in oats was rather liberal at times and that grain showed considerable strength after it recovered from the early weakness in corn
 -cir rxraro ay-o llx ipfvlt QN~ out, with closing figures at the hish point of the day. A strong market for live hogs and commission house buying were factors.
The Birmingham age-herald., 1920-10-10
Coffee Market
 

New York October 9.-No new lows were made in the market for coffet futures this morning except in the case of July contracts, which sold at S.31 compared with S22 yesterday. but the slight rallies of late the previous day were lost. owing to indications of con tinued pressure from Brazil. The open ing was one point lower to two points higher on scattered coveringi but oth erwise no support was in evidence and prices eased off to 7.2l for Decem- Der with the market closing net un- changed to eight points lower Clos ing bids October 6.90: December 7.20 January 7.3S; March 7.75; May T.97 July SEQ; September S.35.
 Spot coffee quiet: Rio 7s 7A Santos fs 112 to 12A. Few firm offers were reported in the cost and freight mar ket but there were rumors that well described Santos 3's and As had beer offered at $50, and that some shippers were asking for bids of .sA on 4's American credit.
 The official cables reported nc change in Rio exchange rates, but s decline of 50 reis in the Rio market New style Santos futures were un- changed to 175 reis lower. Brazilian port receipts 46,Q00; Jundiahy 10000.
The Birmingham age-herald., 1920-10-10
Hubbard Bros.
By Associated Press

New York. October 3.-The market today presented much the same char acteristics as have the other mar<ets since the top was reached in the inld : dle of the week. Further reports of curtailment and business unsettlenent. together with an entire lack of trade demand. caused the market to ease off quite sharply from the opening. The southern hedge selling increased on the decline today, which added to the generally passimistic reeling.
 We do not believe chat domestic mills hold any supplies and this will eventually prove an important factor in the market, as yet of course. their inability to move goods prevents their
The Birmingham age-herald., 1920-10-10
Port Movement

New Orleans.-M MiddliEs. 22oc rece'pts, f252: sales, l.615; stock. 2lS,s5i
 Galveston Mddling, 2259c; receipts lS,- 1g7: exports. a,f1e; sales. l.o55: stock, 242, ,460 Mob;le-M -Middling. 22c stock, 1.Ss0,
 Savannah Middling. 23c, receipts, 2.4S6; sales. 26: stock, 96.15i.
 Charleston-Rec 9l6: stock, 2S.2SS. Wilmington Middling. Pc; receipts, 1oo; stock, sll.&3S.
 Texas City-Stock, 4.836.
 Norfolk Middling, 22.5oc; receipts, sis; stock, 21,S75.
 Baltimore Stock. 27ss
 Phidalephia-M Middling. ei25c: eceipts.
The Birmingham age-herald., 1920-10-10

buy ing ahead at prices ander 20 cents. As We have said befofr. the question resolves itself into a matter of general busines., in that there must be m inn provenent in goods Oerore the mills will buy cotton in sufficient voldme to absorb the daily sales.-Hub5ard
 Bros. & Co.
The Birmingham age-herald., 1920-10-10

crude and cotton and heaviness in greases generally, brought about sharp downturn in cotton seed oil today Ac-. tive positions closed 20 to 9 points net lower Sales 6.S00 barrels. Prime crude, ssT5: prime summer yellow spot closed SIP: October s12 10; December SIP; March, $1215, all bid. Prime winter yellow ana summer white nominal.
The Birmingham age-herald., 1920-10-10
London Money

By Associated Press London. October 9.-Bar silver 547sd per ounce. Money, 4% per cent. Discount rates: Short bills. 5% per cent; thres- month bills, 6ss6I6 11-l6 per cent
The Birmingham age-herald., 1920-10-10
Spot Cotton

By AssOciated Press New Orleans October 9.-Spot cotton steady. 25c lower. Sales on the spot, 69o: to arrive. 925; low middling, IS. 3c; niddling, 22c; good middling. 24c; re- ceipts and stock, nothing doing. New York, October s-spot cotton auiet' mddling, 24c.
The Birmingham age-herald., 1920-10-10
East St. Louis Live Stock

East St. Louis. October 9.-Cattle Re- ceipts, 74; no sales today; for week, beef steers 25c to Soc and in spots 75c higher; best heifers steady; commons, 25c lower: canners. 25c lower; light bologna bulls, 3c lower: others steady: veal calves, s1 25d1 50 lower; stock steers, 25c lower; cows. 25c to soc lower.
 Hogs; Receipts, 4.00o; active; 1Oc high CT than yesterdays best time; top. si6.Ao; bulk light and medium weight, q 50al6 70; bulk heavies, $15 40d16.15.
 Sheep: Receipts, 150; sales; gener- ally steady for the week
The Birmingham age-herald., 1920-10-10

i7: stock, L6sl
 Boston-M Middling. 24.5oc; stock. l5,soo. New York-Mddling, 24c; exports, 200: stock, 30.116.
 Minor ports-Stock. 1616.
 Total today-Receipts, 26, ,204; exports 10 ,669; stock, 9oo,415.
 Total for week-Receipts, 26,904; exports. 19,6ss.
 Total for season-Receipts, 27,1S: ex- ports. 54s.2l5
 Interior Movement Houston MiddIing. 21c; receipts, Il .5s4: shipments. 9.5s2; sales, 1S.14o; stock. 2909ll.
 Memphis -Middling 9 50c. receipts l,255: shipments, 1928; sales. $50; stock 24sS42
 -Middling. 22c; receipts. 2.s4O shipments, 6Se; sales, $40; stock. s5,1So St Louis Middling. 23c; shipments, 22; stock. 9,526.
 Little Rock-Middling, PC; receipts 2.s25: shipments, 1SS: sales, 1SS; stock, 9, ,4s2.
 Mddling. 22c
 Dallas-Middling. 21c; sales, 9,C43 Montgomery-M Middling. DC. Total today Receipts. f6,45i; shipmentG 12.2s6; stock, 656,94.
The Birmingham age-herald., 1920-10-10
Naval Stores

By AssOcated Press Savannah, Ga, October 9.-Turpentine firm, $1.19 Sales, 161; receipts, 431; ship ments, 59; stock, 1oS, 333. Resin firm. Sales, 6s9; receipts, 17s2 shipments, 2S0; stock 56,9i1. Quote: B. D, E, F, G, H, I, K, M, N, VIC and wv, $11.02k.
The Birmingham age-herald., 1920-10-10
Louisville Live Stock

Louisville, October a.-Cattle: Receipts, 300; close steady; heavy steers, s7@ll; {; hcifers, $GMl0; cows, s4@f0; feeders, s7@ 1925; stockers, $5@9.
 Hogs: Receipts, 1000: 25c higher 165 pounds up. sle; 12o to 165 pounds $15; pigs, s. 75lf1 .25; throwouts, $11 down.
 Sheep: Receipts, 400; steady; lambs, N1; sheep, s5 down.