davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1921-02-10
Daily Financial Gossip
By HOLLAND

New York, February Especially the federad reserve board, evidently is of the opinion that the time has come when those who are in authoritative position are justified in speaking in terms of optimism of both the present. day conditions and the outlook. When he said as reported upon the occasion of his recent visit to Chicago that all danger of financial panic and business collapse has passed he put into words substantially much that he has said in private conferences from time to time in the past six or eight months. He never felt that there was any danger of financial panic or business collapse. He did, however, say that 1t was neces- sary to pass through a period of re- adjustment and of convalescence and while that might be regarded as somewhat critical period, nevertheless he was convinced that it would be of comparatively short duration.
 Therefore, his remarks at Chicago must be interpreted as meaning that thls period of readjustment is almost if not quite ended and that revival
 
 With confidence be relied upon as cer- tain to be fully established within few months
 when attention was called to these reported remarks of Governor Hard ing, 1t was discovered that with few exceptions the financial authorities and the industrial leaders are in full agreement with him. They believe that underlying forces and the imperative need for self-protection based upon wise community of interest which all the nations of Europe now feel will in due time compel such readjustments over there as will be of benefit not only to Europe but to the United States. Some of those to whom in- quiry was put were willing or able as they thought to give in some detail the reasons why Governor Harding and others are confident that readjustment has been almost completely compassed and that improvement until normal conditions are reached is under way One of the reasons given for this View is the opening of an encouraging market not only for those who have cotton 10 sell but also for farmers who cultivate food products.
 Attention was also called to the de- cided improvement in activity in the textile industry This improvement confirms a prediction which was made In the autumn months by the execu- tive head of one of the largest wooden industries in the United States. At that time he said, although confiden- tially, that the condition at the moment Tn this industry was very discourag- ing, but he had reason as he believed Tor con1ldence that this condition was no more than temporary and that a change for the better would be ob served immediately after the first of the new year. That prediction is now seen to have been an accurate one and 1t furnishes one of the reasons for the
The Birmingham age-herald., 1921-02-10
COTTON ADVANCES UNABLE ID HOLD UP
 ON LATE TRADING
Private Cables Reported Con tinued Depression in Man chester, With Worst of
 the Slump Over
By Associated Press

New York, February 9.-Early declines were followed by rallies in the cotton market, but advances were not fully maintained, with the market closing steady net t5 points lower to higher, May contracts sold up from 13.s5c to l4.S1c, and closed at i4.14c. compared witl 14.12c at the close of the previous day. The market opened barely steady at a decline of 19 to 24 points in response to lower Liverpool cables and overnight selling orders from the south. There was also some local or Wall street sell ing on an idea that the covering move ment of the previous day had weakened the technical position. These early of ferngs were soon absorbed, howeve-, and the market turned firmer during the middle of the day on reports of an i'm proved tone Tn grain and stocks and re- newed covering There was very little pressure of southern selling after the first half hour and contracts seemed comparatively scarce. March touched, 94c and July 14T0c, with active months generally showing net advances of 17 to 24 points.
 Tbe market met realizing at this level and was unsettled later by less favorable reports from Wall street, with the close showing reactions of some 20 to q points from the best The midday advance was accompanied by reports that Wall street operators were bullish on expec- tations that the question of war repara- tions would be settled early next month and that next month would also see an
 improvement in domestic business con- dtions
 Private cables reported continued de- pression in Manchester, but quoted prom inent British trade authorities to the ef- feet that the worst of the trade slump had probably been seen. Southern mills were reported buying small lots of cot ton in the Carolinas Exports today were e.1eo making 3.1os 269 so far this season. Port receipts. 9,os1; United States port stocks, i,442,699.
The Birmingham age-herald., 1921-02-10
Smelt Iron Sand

Rich as it is in metal. the form of ragnetitc. known as iron sand" has hitherto presented insuperabie obstacles to the smelter. for the obvious reason that the finely divided ore blows out of the blast furnace.
 By . new process, coal dust is inti- mately mixed with the sand that is gathered directly from the beach. and the granular compound thus obtained is placed in baking furnace, kept at q temperature that turns the coal to coke. according to an illustrated article in the Popular Mechanics Magazine. The result is solid mass of .ferro-coke." q form of artificial iron ore especially suit able for the smelting operation. Placed in baskets, with a small addition of limestone Aux and raw iron sand. this substance is then dumped into the blast furnace from an elevated platform. the mouth of the furnace being plugged with clay At the proper moment the clay is pierced. and the clean molten iron flows out into the molds The pig iron 90 obtained is of such excellent quality that the finest and most intri- date castings may Dc made from 1t.
The Birmingham age-herald., 1921-02-10

WITH AUTOMOBILE INDUSTRY
 The confusion and partial demoral- ization which characterized the auto- mobile industry last fall seems to have ended, at least there appears to be an approach to stabilization in that in- dustry. This is of great importance since the relation of this industry to our general prosperity has reached a magnitude which was not dreamed of 10 or 15 years ago.
 The new foreign trade financing corporation. which will probably be underway within few weeks or at the farthest by midspring is spoken of as one of the reasons for the feel ing of optimism which is now prevail- ing. If Governor Harding should be- come the executive head of this or ganization as it is intimated he will in the spring, then the selection of him for that post will create addition al confidence It is surmised here that Governor Harding's recent visit to Chicago when he made the optimistic comments attributed to him was prob ably for the purpose of getting first hand and complete information respect ing this organization so that he will be the better qualified to decide whether or not to retire from his present ser vice as member of the federal reserve to become the executive head of the foreign trade financing corporation. Now and then reference is made to the very large contraction in the out standing federal reserve notes as one of the reasons for confidence. There is also reported from London an in- crease in the reserve ratio of the bank of England and evidences are plentl- full of improvement in business throughout Great Britain
 These are, conspicuous among the reasons given for the feeling of con fidence or optimism which was con cisely expressed in Governor Hard ing's remarks when he was in Chicago.
 It Is true there are some adverse in : fluences still remaining to be over come. Among them is the procrastina. ton by the government in paying the raliroads what is due to them This makes 1t almost impossible to secure the equipment which is necessary for the railroads. So also it is said that the banks are still carryirs- heavy loans for the fur and leather indus tries. But these adverse influences are or themselves of no great importa nee. The federal reserve system and the apparently justifiable hope due to the organization of the foreign trade financing corporation supplementine . as they do the stupendous wealth of the country in resources, are sufff- cient to justify the belief that unless there be set back this country is to be of good business health in a short time. That set back would surely come If the further readjustment which is necessary is given up and if the optimism were not kept in good control, so that the disposition ,to speculation and the demand for new imitation would be prevented or checked
The Birmingham age-herald., 1921-02-10
New Orleans Cotton

New Orleans. February 9.--Higher prices in the cotton market today were mainly due to covering of the short in- terest, buying of this sort being stim- ulated on the opening by yesterdays strength in the New York and after wards by increasing evidence of the de- termination in the belt to reduce acreage in a drastic manner. While private re- views of the new crop outlook stated that some cotton already was being planted in the very earliest sections of Texas, blowing on the whole was said to be rather backward. For while re- ports of a better spot demand in Okla homa hac the effect of increasing the
 inquiry for contracts. but later on. there were telegrams from Texas claiming that farmers were selling at the advance and they caused recessions from the highest. At the best of the day the trad
 ing months were 41 to g points over the final prices of Monday, with March up to 1350c. Last prices showed net gains of 34 to 4S points with March at 13.43c.
 While cables were very poor, they had but little effect on the market and un- favorable January export returns on cloths and yarns from England caused only a little selling although they con firmed recent private claims from Man chester of very poor trade. Exports of cloths were put at A9, 100000 yards, against 414, ,S00,0c0 in January last year and of yarns 7.20o0oo pounds against 16 500,000.
The Birmingham age-herald., 1921-02-10
MARINE NEWS

By Associated Press
 Port Eads, FeDruary 9.-Arrived: Az wisun, Fort Lobos; Otwaring, New York; Rama, Bluefields; Topila. Tampico; Tu- leda, santos; winnebago tBr.). United Kingdom
 Sailed Bannack, Galveston; Cerea. utaiy). Genoa Newona tBro. Tampico; Nils (Nor.) Taiara, Porto Rico.
 Mobile. February g.. s.Arrived; George B. Mckenzie, Georgetown, British G0inA Hermitage. Georgetown; Hondu- ras Nor.). Port Barrios Louisiana Fort Arthur Conotton Now York. sailed: Hutchinson. New orleans:
The Birmingham age-herald., 1921-02-10
Hubbard Bros

New York, February 9.-(SpeciaL)-Ou market opened lower under the influence of weaker Liverpool cables. but the mar ket responded quickly to outside short covering. It is reported that many traders with large short interest were run to cover yesterday
 On this theory many sold at the high point, believing that the technical posi- tion of the market will favor the short side temporarily. It is hard to say at the moment if the market is short or not after yesterdays advance. but we believe there is still quite a short in- terest, but we feel that after this ad- vance the market may ease off trfle and that any favorable news will cause an advance. Hubbard Bros. & Co.
The Birmingham age-herald., 1921-02-10
RED CROSS EXPANDS
Huntsville Chapter Starts Clinic for
 Children

Huntsville. February 9.-(Special.)-- A children's clinic has been established by the Madison county health depart ment with funds that were obtained Christmas week through the sale of Red Cross stamps, and the doctors of the city and county will correct the among the school children. The first operation was performed Tuesday aft ernoon.
The Birmingham age-herald., 1921-02-10
Flood Blocks Traic

Ashville. February 9.-(Special.)-- --- The heavy rains of the last few days have caused Canoe creek to overflow and Ashville Is now shut off from the at Whitney except by wagon, a Ford being unable to cross the creek in the bottom. The water is too high
The Birmingham age-herald., 1921-02-10
Sugar Market


 New York February 9.-The raw su- gar market was firm and prices were higher, closing at 4c for Cubas, cost and freight, equal to 5.02c for centrifugal. Business, however, was light, the only sales reported being lot of 4,00o bags of Cubas to an operator for February shipment. with offerings light, holders apparently being disposed to hold off and await developments in connection with the new plan of disposing of the Cuban sugar crop through a committee. Noth- ing new has developed in this connection, although it was said that local refiners have sent protest to Washington against the establishment of any such committee.
 The only change in refined sugar was a reduction in soft grades to the basis of 665c by one of the leading refners. Otherwise, nothing new has developed with fine granulated listed at 6.S5c by all refiners and with only moderate in quiry reported. Sugar futures were ir regular. with sentiment mixed, pending developments in connection with the proposed plan of selling sugar in Cuba. Operations were only moderate but prices were easier under liquidation, closing at 4 points advance on September and to lower on other positions. Closing bids: March, 426c; May, 447c; July, 4.67c; Sep tember, 485c
The Birmingham age-herald., 1921-02-10
Liverpool Cotton

Liverpool, February 9--Cotton, spot in limited request, prices steady Good middling. 9sSd; fully middling S.9sd i, middling, S.1Sd; low middling s 9Sd; good ordinary, 54Sd; ordinary, 4.4sd, Sales, 1000 bales. including 200 American Re- ce.pts, 26,ooo, including 192oo American. Futures closed quiet; February. s.4Sd March, S65d; May s.90d July, 9.14d; i; October, sgd; December 9.40d.
The Birmingham age-herald., 1921-02-10
Hubbard Bros. & Co.

Mnnebers New York Cotton Exchange, New Orleans Cotton Exchange, New York Produce Exchange. Associated Members Liverpool Cotton Association. Orders solicited for the purchase and sale of Cotton and Cotton Seed Oil for future delivery. Special atten-
 ton and liberal terms given for consign- ment of spot cotton for delivery.
The Birmingham age-herald., 1921-02-10
Cotton Seed Oil

New York. February g Cotton seed oil was lower under renewed liqtiidation of and the west on the heavy tone of lard and setback in grains. Trade demand was poor all around. Closing bids were u9 to 9 points net lower. Sales 149o0 barrels. Prime crude, 565 sales; prime summer yellow spot. 7.45c: March, 7.72c; May. s.26c; July, S.5sc, all bid.
The Birmingham age-herald., 1921-02-10
Port hsv.ment

ny AB6OcihtrO GIpbp
 New Orleans: Middling. 13.25c; re- ceipts, 5S1; sales, 1.025; stock, 433,51S.
 Galveston Middlng, 13.25c; re- ceipt, 61i6; exports, 3,9o9; sales. 1,242; stock, 356,693
 Mobile: Middling 13c; receipts, $40; stock, 23,225.
 Savannah: Middling, 14c: receipts, 1,1os; sales, 45s; stock, 147,79s.
 Charleston Receipts, 261; stock i247511.
 wilmington:. Mailing. 13.25c; re- ceipts, s5; exports, 2.151; stock, 2o.39S
 Texac City: Stock, 4,043. Norfolk Mildling, 14c; receipts. 549; stock. 76.559.
 Baltimore; Stock 3.23S
 Boston: Middlng, 14.o5c; stock |11.700.
 Philadelphia: Middling, 14.30c; stock, 4,s35.
 New York: Middling. 14.o5c; stock,
The Birmingham age-herald., 1921-02-10
LOCAL MARKETS
Poultry

fiuTheyS--bOC. Fryers-45c.
 Hens-32&3oc. Q COcks--17c.
 Fresh Eggs--4oc. Geese-26c. winesaps. No. I. ss's6I wis' fancy No I. ss.ss. Grapefruit-46s and sos, s. Lemons--verdeIii.a ai i'm nortsa oz ssso ,a. - g California, s6o's, $. Bananss--Eight- hand. 50 to SO, Sc.
 Produce ., ,cabbase-wisconsin stock. small heads, Cslery.coIerado. large crates. .7, one !. .Lssttucs-lcebers. fancy. largo heads. Caulifiower--ts2k.
 TToma,soese1Fancy Florida, 1soa $. ppuifnips-6h puiIp to doz-. bbl.. ss Irish, Colorado sc lb.; Wisconsin. so ib. - ponnd iass Mi,sso-pound sacks. 2Ec lb.; 5e- lhargs. loo-pound sacks. sa.5o; 5o- pound lots, Onion sets--white. busheI. s26o: yellow. Beans1Navy, Michigan. SIC ID; lima Peas -Biaeksyes csiifornia. ssEc. = psssnauts--No. ss.a Virginia stock shc; ioss 1ac sack lots. loc; roasted. 5o-pound cGhssse-Daisies. full cream. asc. Mackerel-l00 count, $7.50. Cocoaputs-1oo to sack. S6.6o; lots of SO. Market Baskcts-Doa, 7sc. FicsmscM lnssMILondon K layer. ss.bs. .k Red snapper-Headiess and drawn. a10 Spanish Macksrel--3sc. Pompano. s6c.
 Salt Water Trout--ss oaSe. |, oys.srsE,chssapsak. Bay sztr. se,se. Go,nno E. s; Clear Bs!liesaal401sHc. Pork LoinsMsi4asco. Bacon--2s Q soc. live Stock Fed steers; Good to choice. TX 0shc; me. and flesh Steers so7c: fat eea eo~:, oSsiMy sesc: n:.vy ss. 'ssss5 M sE1s .st sa;. Hass SSsss;!ss: Sssiss :..s ;.s ss:: f,ss sssies lsd Sess os te 'ss ' ss hoss sSfs hail fat soash Ross Re.a iss sese oush aess than above prices.
 Meal and Feedstuff Mi1ed Horse Feed-s45e5O. 0id Style Huiis-$2o.
 
 Corn Chops-$2.25. No. Whhe Oats--70c. z Shorts-$45. < c. s. Meal. per cent-S40, Hen Feed-$3 1o0-lb. sack. Iimothy-tl2.
 shs.s; Gs.ss ss. s;:.s;:s sl.;. AIs.lfss4A Ds,
 Hldss ana Taliow No. Green Fresn Hides-<c No. Fresh Green Hides-3o No. Dry Flint Hides-lzc. No. Dry Flin Hides-1lc. 2 No. Green Salt Hides-Sc. No. Green Salt Hides-Se. No. Dry Salt Hides-9c. No. Dry Salt Hides--Sc. Sheep Skins-1O c @25c. Hog Skins-16 Q s5c. Goat Skins-20 Q 2Sc. Taliow-406c.
 Beeswax-25 027c
 Clear Grease Wooi-1z0lSc Clear Washed WooI-20O 0 26c. Burry Woo--5 6c. GinsenS twiid)-t495 Horse Hides-s103. z Spot Cottsp
 Strict middling .............. l2K
 goon -~'ddling 13%<
 Aaioutin l2A lN Strict low middling ............ 9L
The Birmingham age-herald., 1921-02-10
CHICAGO GRAIN QUOTATIONS
Cash Grain

Cash Grain
 By Associated Press Chicago, February 9-Wheat: Mo- 1 rod, H .92; No. hard, $l.76. Corn. No. 5 No. white, 4s1sc; No. white, 42A@4y1ac Rye. No. l, s1,iz Barley. 55@72c Timo- thy seed, $4.50dS Glover seed, $l5@D Pork nominal Lard, $1l.57 Ribs, slo.7b@ HIS.
 St. Louis, February 9-Cash wheat: No ? hard S 66G1 70; No. 3, NS; March. s1.6 .65; May, $l.55A. Corn: No. white. Gle; May. sNc; July. aeMa69s4c Oats: No. ? white, 441zc; No. 3. 4S1zc; May. 44Ac; July. 44Ac.
 Prnduee Chicago, III, February Shutter lower. 42 Eggs unsettled; s2h@as. Poultry alive unchanged. New York, February a-Butter steadier 3s@42. Eggs irregular. s4@ 35. Cheese irregular. 22@25h. St. Louis, February s-Poultry hens es; ducks 30. Others unchanged Eggs 30. Butter 43.
 Potato Market Chicago, H.. February 9.-Potatoes higher Northern white sacked 1.15@ '1.25 cwt.; bulk 1.2oG1.3o cwt
 Rice Market
 By Associated Press New Orleans, teDruary s--Rough rice no sales; receipts, 32E sacks; millers receipts, same. Clean rice steady: sales blue rose S.sS5 pockets. 16S15c: Carolina I114 pockets four; bran and polish un- changed; receipts, 1000.
The Birmingham age-herald., 1921-02-10
Shot Cotton

Spot Cotton
 New Orleans, February 9.--Spct cotton steady and unchanged. Sales on the spot, s25 bales to arrive, 200; low middling, 8.15c; middling, 13.25c; good middling. 16c Receipts, 53l; stock, 43S,51S. New York. February 9.-Spot cotton quiet; middling, 14.05c.
The Birmingham age-herald., 1921-02-10
EAST ST. LOUIS LIVE STOCK n~ Aa~~~t~k~l D-~~-
Metal Market

3l4E l4. Hy AsBoc1ated RresB
 New York. February S.-Ccpper steady; electrolytic spot and first quarter, 13a lsAc; second quarter. 131z @1s1kc Tin easy; spot and nearby, 20e2. l5c: futures. s2. 50a Sc Antimony spot. .25@6 Soc. Lead dull; delivery spot. 5Q6. .O6c
 London. February g. Standard copper, E72 7s Sd; futures. R72 .12s Sd: electro lytic spot, .s7S; futures, ESQ Tin, spot. R161 lis Sd; futures RlS7 Is Cd. Lead. spot. f22 5s; futures, R22 17s Sd. Zinc, spot. f2s 17s s,Ad; futures, f26 17s Cd.
The Birmingham age-herald., 1921-02-10
NEW YORK BONDS By Associated Press

U. s. 2s. registered. bid .............. 99h T. s. 2s coupon. bid ;..,........... ssh U. S. 4s. registered, bid ............. 103H u- $. As, coupon, bid ................ 103h Panama 3s. registered, bid ........ 7s Panama s. coupon, bid .......... 78 American Tel. Tel. cv. 6s ....... 95 AtchisoH gen. 4s .... ................. IS Atlantic Coast Line list 4s ...... 7sh Baltimore & Ohio cv. 4As...... 6sif Bethlehem Steel ref. 5s .....,...... S4A Central of Georgia Consol. 5s, bid ... S7L Central Leather 5s, bid ............ 90A Chesap peake & Ohio cv. 5s .......... S2A Chicago, Mil < St. P. cv 4ds s... ssH Chicago, R. |. & Pac. By. ref As .... 67X City of Paris 6s 4....s. ...,.,.. 96 Colorado X Southern ref. 4Ms. bid ... 73
 Denver & Rio Grande consoi. As ... 63ss Dominion of Canada 5s (1931) .-.... s9h Illinois Central ref. 4s ............. 75N Int. Mer. Marine 6s ............... SOh Kansas City Southern ref 5s ....... 7415 Liggett. x Myers 5s, bid .......... S2N Louisville & Nashville un 4s ...,. s2
 Missouri Fac gen ss s. ...,......... ,s' D.a ssE New York Central deb. Gs ..... 90
 Norfolk Western cv, 6s ........... 1osA Northern Pacific As .............. 77
 Pennsylvanla gen. 5s ......s......... S9. Republic iron , & Steel 5s tisioi, bid sssnss St. Louis & San Fran. adj. 5s .. 351x Southern Bell Tel. 5s, bid ..... s2M Southern Pacific cv. 5s. bid ...... s1js Southern Railway, gen. 4s, bid ...... 5sE Texas & Pacific 1st .......... 79N Union Pacific As ...... S2
 United Kingdom of G. B. & l. SIS
 u 'ty' $. Steel teeI5s.....'. 5s ............ sssH Virginia Carolina Chemical 5s, bid .. sSH Wabash 1st bid .........l...l.. SS%
 Wilson X Co. cv. 6s s..........-..... 85%
The Birmingham age-herald., 1921-02-10
Cotton Seed oil

By Aeeoc1nted PFeea
 Tulsa. Okla, February 9.-The Sinclair oil and Gas company today announced d cut of 25c a barrel in midcontinent and Texas crude oil. reducing the price Of both grades to $1.75 barrel. The Prairie Oil and Gas company an- nounced similar cut would be made in midcontinent.
The Birmingham age-herald., 1921-02-10
LIBERTY BOND QUOTATIONS By Associated Press
CHICAGO LIVE STOCK MARKET

By Associated Press
 Chicago, February 9.-Cattle: Receipts 1000; generally steady on beef steers aop. .-.'...... ..........$ 9.75 Bulk :..................... 1900 S75 Bulk butckher cows and heifers 5000 6.35 Bulk canners and cutters ..... 5000 400 Beef and bologna bulls ....... 4.750 $50 Bulk vealers ;.a............. 10.00011.oo lbc lower; later 15@26c lower than yes- terday's average.
 Bulk 200 pounds and down -. 9.15@ e75 Bulk 220 pounds and up ...... S.756 300 Pigs. desirable 100 to 120
 pounds mostly .............. s.25@ s75
 Sheep: Receipts. 12,000; fat lambs steady to 25c lower than yesterdays general trade: fat sheep steady.
 Lambs. top ..................$ 9.9o Bulk 1s ....-...-............. $500 s.ss 9Slk ;;:.......... $.sso 4so Ruik .;;:.f.;;::......;.:.::.. - . t.7so sso
The Birmingham age-herald., 1921-02-10
NEW YORK COTTON MARKET

New Orleans. February 9.--The cotton market closed steady at net advance of 3t to 43 points.
The Birmingham age-herald., 1921-02-10
Dry Goods

New York, February 9.-Cotton goods ruled quiet today in the heavier qualities. Print cloths were steadier on a. basis of 7Ac for $11-inch, 64x6os, but yarns were dull. Some of the leading lines of wool knit underwear were opened for fall at about three quarters above the pre- war price level which is considered very low in the trade here
The Birmingham age-herald., 1921-02-10
Coffee Market
 


 New York February 9.-After opening point hirgher to the same lower, the maket for coffee futures sold up to 5 points on covering by near months shorts, but later eased off under a re- newal of scattering liquidation. March sold off from 6.29c to 6.90c and May from 6.75c to 6.67c. Owing to the continuation. of the holidays. there were no official nilreis quotations from Brazil and no fresh news factor was discussed around the ring. The close was 8 to 6 points net lower. Closing bids: March, 6.20c; May. 6S7c; July, rose; September, 7.47c;. October. 7.5Sc: December, 7S2c.
 Spot coffee. quiet; Rio IS, 63s@61ac; Santos 4s, 9ss@105zc. Cost and freight offers were reported about unchanged, including Santos Is at Sc to 9.25c and As and s at 8.50c, also Rio IS at G. 40c to 65bc, American credits. Receipts at the two Brazilian ports were 1s,0oo bags; Jundiahy receipts, 17,ooo