davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1921-05-07
COTTON FAILED ID
 HOLD EARLY RISE
 ON HEDGE SELLING
General Staple List Closed Barely Steady, Net Twelve Points Higher to Ten
 Points Lower
Ky Associated Press

New York, May 6.-Early advances in the cotton market were followed by re- actions today as a result of realizing July contracts eased off from 1330c to 1S.o9c and closed at 1S.19c, with the gen. eral market closing barely steady, net F points higher to 10 points lower
 Liverpool cables reported a poor trade demand, but were fully up to expectations based on the New York close of yestcr- day, and the local market opened un- changed to points higher, Reports ot better prospects for settlement of the British coal strike and of an increasing business in the goods market here led to further Wall street and local buying The firmness of foreign exchange, particu- larly in the case of francs recently, has encouraged the hope of an early agree ment on war reparations, and reports o1 an improving export demand for spot cotton in the south also helped the early advance. Both old and early new crop positions made new high ground for the movement, May selling at 12S4c and Oc- tober at 1S.92c before the end of the morning, with the general list showing net advances of 10 to 16 points. At these figures there was increased realizing and selling of October which was believed to represent hedging against cotton pur- chased in the southwest for shipment to Japan. Otherwise offerings were not heavy, but the market was easier during the afternoon, selling off to 12.6oc for May and .6Sc for October, or some 6 to 10 points net lower. Closing prices were a few points up from the lowest on re- newed covering, although there was good deal of bearish comment on week. end figures showing very small taliinss by spinners. The weather in the south showed general improvement over re- cent conditions, but crop advices reacn- ing the trade are still emphasizing the effect of the cold, wet weather reported during the past month. Eleven more May notices were issued, but were with out any appreciable effect. Exports for the day, 5,25O making 4,176,633 so far this season. Port receipts, 230SS. Unlteo States port stock, 1,492,S37.
The Birmingham age-herald., 1921-05-07
DUN'S REVIEW
By Associated Press

New York, May 6.-Dun's tomorrow will say:
 A year has elapsed since the economic readjustment began to gather momentum. and the process is yet to be completed. Forces of rehabilitation are now opera tive, however, and the general outlook is better Gains are not easily achieved and none at all appear in some quarters, but the price and wage revisions and the easing in money are factors making for further improvement in conditions.
 The strengthening of sentiment, upon which business reeuperation so largely depends, has continued and Con onfidence in gradual revival of activities finds more frequent expression. Recovery has come first in those trades and industries which were the first to react from the boom of the war years and afterward. and in isolated instances enough demand developed to bring a rally in prices. That such phase remains the exception is demonstrated by the continued excess ot declines in wholesale quotations. Weekly bank clearings, s6,594 644, ,9S4.
The Birmingham age-herald., 1921-05-07
NEW YORK COTTON
New Orleans Cotton


 New Orleans, May 6-While the cotton market stood at net advances during the greater part of today's session, 1t plainly was held in check by constant hedge selling, and the recessions for the day were just as plainly due to the increas- ing disposition of traders and spot firms to buy spots and sell futures at the pre- vailing wide premiums on contracts over the actual stuff. The advancing ten dency was due mainly to easier money continued cold weather in the belt and improvement in labor conditions, both ln this country and in England.
 Opening higher, the market soon was Is to IT points over the close of yester- day with July at 12SSc. This was the high level of the day. Heavy selling met the advance and toward the middle of the day it had the trading months unchanged to 12 points down compared with final prices of yesterday, July trading down to 1267c. Distant months were under more pressure than the near because of their wider premium over spots. In the later trading claims by cable from Liverpool that the coal strike would probably be settled within week caused a recovery back to almost the highest of the day, but hedge selling again increased in the close and last prices were points to points higher than the last prices of yesterday. with July at 12.7Sc.
 The reduction of the federal reserve discount rate in this district from per cent to per cent was considered fa- yorable development of the highest lm- nortance and caused much of the carry buying.
The Birmingham age-herald., 1921-05-07
Weekly Cotton Review
By Associated Preas

New York, May 6.-The cotton market
 nas shown increased activity and a gen.
 eral steady undertone during the past
 week. The continuance of the British
 coal strike and uncertainty of an agree
 ment on separations has had a restrict ing effect on commission house business
 put some broadening of Wall street inter-
 est has been reported This is believed
 to have been encouraged by easier
 money, the frmness of foreign exchange rates, and reports of improving general
 ousiness conditions while the advance
 in prices has also been promoted by fur
 ther delays in the new crop start and reports of an improved spot demand
 some lrregularity was caused by hedge
 selling and realizing above the 13c level
 for July contracts, and buying was slowed up to some extent by the ap-
 pearance of more favorable weather conditions in the south. The best prices
 of the week on old crop and early new
 crop delivery was reached during to-
 days trading, however, when reports from London indicated better prospects
 for settlement of the coal strike, and the frnness of foreign exchange pro-
 noted hope that the question of repara-
 tlons would soon be disposed of. Further private crop reports have been published poiuthiS tO A TeuuctlOn or rom Io 10 3u
 per cent in acreage and indicating that
 the promise of an early start had been lost as result of the cold weather dur ing the past month. According to one of the local authorities the season is now six days late on the average, and com plants have been reaching the market concerning scarcity of seed for replant- ing in some sections Rather better busi-
 ness has been reported in cotton goods at first hands, sales of print cloths in Fall
 River for the week being estimated at 14O000 pieces. better tone has also
 shown itself in the yarn market, accord ing to reports from both boston and Philadelphia, but no increase of domestic mill activity has been reported. Japa- nese importers are said to have been good buyers of spot cotton in the south west, and part of the hedge selling re- ported in futures here toward the end of the week was believed to be against this cotton. Increased mill curtailment has been reported in Lancashire, owins to coal shortage and recent cable advices
 from Liverpool have complained of poor trade deman but British importers have
 been credited with buying some cotton in the south.
The Birmingham age-herald., 1921-05-07
CROP OUTLOOK CAUSE
 OF M U CHI ANXIETY
 AND WHEAT GOES UP
By Associated Press

Chicago, May 6.--Anxiety over the crop outlook in the southwest and in regard to scantiness of supplies at ter nlinal markets led to new bulge to- day in the price of wheat. The fin ish, although unsettled was Pc to 4a net higher, with May s1.4SA to s1.4Ss and July SLY to s1.17A Corn gained A@ssc to ssc; oats 3sc to tc. and pro- visions 10c to soc.
 Dry weather in Kansas and Okla homa added to the misgivings which had been aroused by messages from field experts saying that throughout large districts the wheat crop looked unhealthy and promised to become orse. The bullish sentiment thus en-. gendered lifted the market to s1.5G for May, rise of more than 25c a bushel, compared with prices at one time last week. Rapid fluctuations, however, took place on today's advance, and there was considerable reaction in the final half hour, gossip being current that rural offerings had increased somewhat and that export demand had been checked, Nevertheless, the greater part of the days advance was held. and the smallness of the visible supply continued to attract notice.
 Corn and oats derived most of their strength from wheat, but was also given to bullish crop reports concern ing oats. On the other hand, it was said, Germany would buy Danubian corn after May Is instead of American
The Birmingham age-herald., 1921-05-07
IRON AND STEEL REVIEW

Cleveland, O., May 5.-(Special.) 1.-The Iron Trade Review today says:
 Buyers of steel are showing no great CT willingness to accept freely the pres ent basis of prices, despite more cheer ful undertone apparent in the general situ- independent mills now are working repre- sents bookings arranged at the former and lower level. How long this will weigh against renewed concessions is a question. Specifications on contracts with the Steel corporation also are reported to be on reduced scale. The leading interest is operating lower than a month ago, it now having 43 blast furnaces active com pared with 50 at the end of March.
 The 20 per cent reduction in wages an- nounced by the Steel corporation meets with expectations, and it may open the way to a second series of wage reduc- tions by the independent companies. With the Pittsburg basng point system now slated for judicial review, by decision of the federal trade commission, reports again are current at Washington that a price zoning plan may be a compromise outcome Similar reports previously had met with denial in authoritative circles.
 "A new low record of pig iron produc- tion was made in April. The daily rate was 39,735 tons, the smallest in about 1S years, or since July 1908 Furnaces in blast at the close of April were 96, a loss of seven from the preceding month. This is the lowest number on record since monthly production statistics first were compiled
 However, this loss of active furnaces was the smallest in six months, compar- ing with a decline of 52 in March and 29 in February, showing that the read justment has about reached stage Of equilibrium. Total output in April was L. ,19207 1tons,- compared with 1,594,S66 tons in March and 1929, ,394 tons in February.
 Automobile demand continues the mar ket's brightest spot. The Ford Motor company closed this week for about 10000 tons of sheets in addition to tonnage of bars and strip steel.
 Basic pig iron has declined again to s22 valley on sale of 1,500 tons. South ern foundry iron has been offered at s2l, Birmingham. A 1000 ton sale of Bel giaI foundry iron was made at San Fran cisco at $S3. 75 eX-vessel
 '"The Iron Trade Reviews weekly com posite average of the month is s43 6l, compared with $43. 73 last week, S4S.S4 for the month of April, s4S.S for February, 1921, S6S,66 for May, 1920, and $2299 for May, 1914.
 "Cable dispatches show that the British iron and steel industry is experiencing the most drastic curtailment in its his- tory, due to the coal strike deadlock. Only 13 blast furnaces are operating
The Birmingham age-herald., 1921-05-07
Hubbard Bros.

New York May 6.-(Special.) )-Liv- erpool came about due, consequently our market opened around the closing figures of last night. New Orleans reported large spot houses as buyers in their market, and immediately our market reflected the demand July soon reaching 13.30c, new high for this movement. The market seems impo- tent and anxious to be active. but the big draw back is the continuation of she coal strike and consequently put ting a damper on the trade and the business in Manchester. We are ex- pecting a demand from this quarter when the strike is finally settred.
 There is very little activity in the Memphis district towards cultivating the crop, and the crop is reported late in that section with cultivation still hampered by the rains of the past week spot demand is reported in the Memphis district, and we believe that any good demand for staple cot ton of the better grades on that mar ket would find little offering. and that the balance of the stock in Memphis is closely held. We expect gradual inn rovement,-Hubbard Bros. & Go.
The Birmingham age-herald., 1921-05-07
FORWARD STRIDES
 MADE IN TRADING
 OF STOCK MARKET
Domestic Money Rates Were Unchanged, But Foreign Re- mittanceS Were Active, Especially French and
 Belgian
By Associated Press

New York, May 6.-The stock market made further forward strides today on a volume and variety of operations which approached the maximum busi- ness of any session thus far this year, but reacted variably at the finish. Sales amounted to approximately 1,500,- 900 shares.
 The days news was sufficiently con- structivs to discourage resumption of short selling, where 1t did not actual ly compel covering of existing con- tracts. Passing of the quarterly divi- dend on American Smelling common was almost the sole adverse develop ment of the day.
 Because of recognized conditions in the metal industry. however, the effect was not pronounced.
 Further reduction of rsdiscount ra tes by federal reserve banks and the opin- ion of Secretary Mellon that the coun- try had passed the stage of liquids ton confirmed the more hopeful adviees received by leading financial interests.
 The strength and prominence of rails. which again led the movement at advances of 1 to points, consti- tuted the most reassuring feature of the trading and probably presaged the early adjustment of wages and freight rates.
 Oils, especially the Mexican division, displayed consistent strength and some shippings were benefited by the rise lr rails. Sugars caused some read Justment and confusion at the close
 Domestic money rates were un- changed, but foreign remittances were active, especially the French and Bel gian rates, these rising to highest quotations since the close of the war. The British rate eased slightly, but Duoch and Italian bills were sustained by demand for francs.
 speculative bonds of tho railway di- vision continued to keep pace with the demand for stocks of that class, Inter- national issues were mostly firm. but ne Liberty group shared only slightly ln the advance Total sales, par value. were s12,375,0Oo.
The Birmingham age-herald., 1921-05-07
Sugar Market

ny AsSOc1ated Press
 New York, May 6-The raw .uear t'narket was firmer, but no fresh business was reported. although there were buy ers at last prices of 4.5Sc for centrifugal. with holders asking more. Raw sugar flu lures were fir1ner on covering, and trade buying, prompted by steadiness of the spot market and closing prices, were at practically the best of the day CT from 10 II points net higher. May closed Ht S.S1c, July at 3.91c September at 3,95c and December at 3.70c.
 The market for refined sugar was un- changed to 10 points lower, with fine Eranulated listed at 6.30c to 650c Mar 1set for refined futures was a little more active and prices were higher on trade buying, with final prices IS to P points met higher. August at 6.7oG6 72c; Sep tenber, 6.s0c. Closing bids July, 66Sc; August, 6.72c; September and October, 6.S0c.
The Birmingham age-herald., 1921-05-07
LEGAL NOTICES

Notice to Contractors
 Sealed proposals will be received by the undersigned until 5 o'clock p. m. Tuesday. May 10. 1921, for the construction of certain asphaltic concrete, concrete and brick gut ters sidewalks, combined curb and gutter and brick track paving. under Improvement Ordinance Nos. 92-D and 9S-D. Specified tions may be obtained and plans examined at this office. The right is reserved to reject any all proposals.
 JULIAN KENDRICK
 City Engineer. Age Herald, May 5th to 7th, inclusive.
 Legal Advertisement
 Notice is hereby given that the under signed will sell at public outcry to the highest cash bidder. before the Third ave of the Jefferson county, Alabama, court nue door of the Jefferson County Alabama, courthouse. in Birmingham. during legal hours of sale. on May II, 1921. certificate No. 71 for 100 shares of stock of Fulton Cotton Mill company of Athens Ala, pledged to secure an indebtedness now past due.
 First National Bank of Birmingham,
 By F. s. Foster, Cashier.
The Birmingham age-herald., 1921-05-07
MARINE NEWS
By .assoclated Press

Mobile, May 6.--Arrtved: Steel Trade, New Orleans; Kurt Woermann (French). Gibraltar.
 Sailed: Terrific .tBritish), Port Sedan, Egypt; Verona Norwegian. Fort Barrios; Eika Sd tNorwegian), Ha- vana; schooner w. H. Marston, Orange.
 Port Eads. May 6.y-Arrived: Carib, Trogresso; Cartagea, Bocas Deltoro Crude Oil, Port Arthur; Danville, Tampico; Lake Fisher. Frontera; Mex ico (MexicanJ, Havrc: Momus, New York; Montoso, Porto Rico; P. J. Reil- ly, Tampico; Rochelle (British), Cuba William G. Warden. Port Lobos.
 Sailed: Cliffwood, London; Ellis (Norwegian), Tela; Jamaica, Kingston: pequot, Genoa; Sagua (Dominicianj, Sagua, Cuba; Steel Trader. Mobile.
The Birmingham age-herald., 1921-05-07
Orpahange Cottages Planned

Montgomery, May 6.-(Special)- for the construction of cottages to house the children of the Alabama Baptist or phanage, which has been moved from Evergreen to Troy. were made by the building committee at meeting at the board of missions here today. It is pro- posed to start work on some of the cot tages as soon as preliminary work has been completed and to continue the con- struction until sufficient facilities have been provided. The cottage plan will be used, having been found more suitable than one large dornitory for the hous- ing of the children
The Birmingham age-herald., 1921-05-07
Money Market

=, Dy Associated Press
 New York, May 6.-Prime mercantile paper, n. Exchange irregular; ster- ing o0-day pills and commercial CO., day bllis on banks, S921a; commercial ou-oay bllls, 3.92A. Demand, 3.97; ca. pies, 3s7A Francs demand, S23; ca ples' S.25. Belgian francs demand, s.23 cables, S.25. Builders demand, 35.34; cables, S5.44. Lire demand, 5.01; ca lbies. 5.O3. Marks demand, 1.51; cables. t1.o2. Greece demand, 5.S5 Sweden de- mand, 2S.33; Norway demand, 15.30; Argentine demand, 29.75; Brazilian de- nland, 13.12. Montreal, 10 per cent dis count. Government bonds firm; rail- road bonds strong. Time loans steady. 60 days, 90 days, six months 61h per cent.
The Birmingham age-herald., 1921-05-07
Cotton Seed Oil

By Associated Press
 New York. May 6.-Cotton seed oil ad- vanced 20 to 30 points through good buy ing for outside long account, part or which was attributed to houses with English clients, and urgent demand from shorts. Realizing sales brought about a little setback near the close. Final prices were points higher on May and 10 to 19 higher on later months. Sales. 130OU barrels; tenders, HOO barrels. Prime crude. $o.3O prime summer yellow, spot, S.25: May. s7.3s; July, s750; September. $7,S4. all bid
The Birmingham age-herald., 1921-05-07
Hubbard Bros. & Co.

Members New York Cotton Exchange, New Orleans Cotton Exchange, New York Produce Exchange. Associated Members Liverpool Cotton Association. Orders solcted for the purchase and sale of Cotton and Cotton Seed Oil for future delivery. Special atten- tion and liberal terms given for consign- ment of spot cotton for delivery.
The Birmingham age-herald., 1921-05-07
Liverpool Cotton

Liverpool, May 6.-Spot cotton limited request; prices steady Good mddlng, S.Sld fully middling, S.36d; middling, rid; low middling, 666d; good ordinary, Sid; ordinary, 4.66d. Sales, 5000 bales, including 2,100 American; receipts none. Futures closed quiet and steady. May, S.10d; July, s.36d; october, S63d; January 8.77d; March, S.S5d.
The Birmingham age-herald., 1921-05-07
Metal Market

By Associated Press
 New York, May 6-Copper, quiet; e.ectrolytic spot and nearby, 12ss c 12%; futures. 12s4 @13. Tin, irregular; spot and nearby. 32.50 O 33.25; futures, $e3. Iron, nominally unchanged. Lead, steady spot, 4.75 Zinc quiet; East S.. Louis delivery. spot 4.9O@5. Anthony, spot 5.25.
The Birmingham age-herald., 1921-05-07
Rice Market

\, By Associated Press
 New Orleans May 6.-Rough rice, no sales; receipts, s.4l3 sacks; millers' re- eeipts. same. Clean rice, steady; sales, Honduras, 3l5 pockets at 5c; Blue Rose. 6o2O pockets, 1AQ3 5-16c; Edith, 100 pock- cts. 5Ac; bran and polish unchanged; receipts. 2,132
The Birmingham age-herald., 1921-05-07
Port Movement

By Associated IreSs
 New Orleans: Middling, 11.sSc; re- ceipts. 4,260; sales. 1,050; stock, 4oo4Io. Galveston: Middling. 12.1Oc; re- ceipts, s,s2s; sales. 1.o37; stock, s4S,- 605
 Mobile: Middling, lie; receipts, 4se; sales. 175 stock, 19,201.
 Savannah: Middling, 12.25c; re- ceipts, 2,7s0; exports. s,o75; sales, 1s'; stock, 162,5S2.
 Charleston: Midsling, 11.5oc; re- ceipts, 1.117; stock, 24S,21S. ,wilmington: Middling, 11.2oc; re- ceipts, 720; stock, 3o,S64.
 Texas City: Receipts. 1,oso; stocK' 14.5SS.
 Norfolk: Middling, 11.75c; receipts, 1,935, sales, 594; stock, 114,91S.
 Baltimore: Receipts, 46l; stock s,ss5.
 Boston: Middling, 12.o5c; receipts $40; stock. 10,640.
 Philadelphia: Exports, SIT; stock 5.420.
 New York: Middling, I3c; receipts 100; stock. 129.695.
 Minor ports: Receipts, 207; exports, 115; stock, 1,657.
 Total today: Receipts. 23.0ss; ex- ports. 4,067 stock, 1,490,761.
 Total for week: Receipts. 1SS,3l7; exports, 94.3S7
 Total for season: Receipts. ,5is.15S; exports, 4,156,3S2.
The Birmingham age-herald., 1921-05-07
Bank of France

by Ate0cIAtod Pres8
 Paris May 6.-The weekly statement of the Bank of France shows the following changes: Gold in hand, increased 8 l23,- 0e francs. Silver in hand, increased 254,- 900 francs. Notes in circulation, in creased .621 ,6Jo 900 francs. Treasury de- posits. decreased 43,970,0O0 francs. Gen. eral deposits, increased 140. 76S, 900 francs Bills discounteds increased 164 4oO, 900 francs. Advances, decreased 9,9S9. GOO francs
The Birmingham age-herald., 1921-05-07
NEW YORK BONDS Ry AseoejntAd preaa

U. 2s. registered, bid ......... ssN U. s. 2s, coupon, bid ............. 9s% u. S. As, registered, bid ............ 104M U. s. 4s, coupon, bid ............. 104% Panama Ss, registered. bid ........ IT
 tmeroan naRs $ snsltns ssaR8p oif Refining 5; 7sss American Tel. & Tel. cv. 6s ... 1OI : Atlantic Coast Line 1st 4s. bid ...... 755& Baltimore & Ohio cv. 41as ... s9X Bethlehem Steel ref. bs ...... S5
 Central of Georgia Consol. 5s ... S4
 central Leather 6s ................. 90
 Chesapeake & Ohio cv. 5s .......... s4A Chicago B. & Quincy joint As ....... 99. 70 Chicago Mil & St. P. cv 4lhs - 68% Chicago, K. I. & Pac. Ky. ref. 4s ..... 68K City of Paris 6s ................ ssik Colorado Southern ref. 4jss bid 75M Denver & Rio Grande consol As .... s5
 Dominion of Canada 5s (19sD ..... ssM Illinois Central ref. 4s ........... 75 Ksnss. In.; Mer, c+N Marine sd,,t ss ;:..... s4, Liggett & Myers 5s .......... S4
 Louisville & Nashville un. 4s bid - 815s Missouri, Kan. & Texas 1st As ... 60ja Missouri Pac. gen. Is ............ 54% New York Central deb 6s ......,... s9% Norfolk & Western ev 6s " 103 Northern Pacific 4s .......... 76X Pennsylvania gen. Is ,........... 7s st sSepnolis 1ons iron | s. Ste Steel ss ds4o) s.A sea board Air Line adj. 5s ......... s4A Southern Bell Tel. 5s. bid ....... siH Southern Pacific cv. 5s, offered - 93is Southern Railway 5s ...... 84X southern R"ilway gen. As ........ 5S
 Union Pacific 4s s............. S1X United Kingdom of G. B. & I. 54s
 IT. S stee, 5s ''''''..'; ;.-''.'..-.... SS% Virginia Carolina Chemical 5:. :.'''''''' s5 s5u Wabash 1st SsH Wilson & Co. cv. 6s ...... S27s
The Birmingham age-herald., 1921-05-07
Weekly Liverpool

FtSbUCIHItW ItSS
 Liverpool, May 6-Weekly cotton sta tistics:
 Total forwarded to mills, 25,0o0 bales, Of which American 2l.o00; stock, 9S6,o00, American 596,0o0; imports, 43,0o0, Ameri- can 37,0O0; exports, 4,00o, American 2,00O.
The Birmingham age-herald., 1921-05-07
NEW ORLEANS COTTON orr
Spot Cotton

By A~sociatOd FreSE steady. 20 up. Sales on the spot sS3 bales: to arrive, 115. Low middling. s.1sc; middling, 11.s8c; good middlins, 1s.SSc. Receipts. 4,26o; stock, 4oO,415. New York. May 6.-Spot cotton steady; middling, 13e.