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Newspaper
Athens Banner
Location
Athens, Georgia, United States of America
Date
Jul 25, 1922
Page
5
Partly cloudy tonight with possible thunder showers this afternoon or tonight. Coolers along the coast with unsettled conditions across Georgia and the southeast. Tuesday may bring scattered showers and generally fair intervals in the northwest with lingering thunder showers inland.
New York stocks opened with selling by professional interests extending from weekend developments on strikes. Oil and motor shares bore the brunt with Chandler Motors dropping sharply while United States Steel remained heavy. Foreign exchange firmed on cables hinting at early Britain Germany accord and total volume around 750000 shares.
Chicago markets show large receipts driving a price drop across wheat corn and oats. Initial quotes fell then steadied with oats down early and hog values up while provisions lack support. Wheat No 2 red and hard quoted around 110 to 112 with corn mixed around 63 to 65 and oats around 33 to 37.
Cattle receipts 18 000 with slow beef steer trade and prices 8.65 to 10.00 for bulk, cows and heifers mostly 6.00 to 7.25, canners 2.90 to 3.86. Hog receipts 45 000 with very active trade, top 11.00, bulk 8.45 to 10.95, packers bidding lower on some grades, pigs strong, many price ranges listed. Sheep receipts 23 000 with lambs about 260 lower, top natives 12.60 to city butchers and 12.25 to packers.
Local cotton declines Monday with middling down from 23 1 2 to 22 1 2 cents per pound. New York spot quiet with middling at 21 45. Foreign exchange shows varied rates across major currencies. New Orleans and Liverpool markets reflect volatile weather and crop prospects influencing prices.
Turpentine firm activity and assorted stock figures along with receipts and shipments dominate Savannah market notes. Butter prices drift and creamery dairy values trend varied while potatoes and eggs show weakness in Chicago. Liberty bonds finish mixed with notable 4s and Victory bonds. steel and metal prices move in Pittsburgh and New York markets.
Larry Gantt argues cotton remains vital to the South economy and world supply. He warns abandonment would ruin farmers and trade, urging brighter days ahead as counties rebound from hardship and resume production.
A fragment discusses whether it is better to obtain 25 cents for one pound of cotton or to raise four or five pounds to gain that amount, questioning efficiency and value in limited cotton production. The text reflects a debate on pricing versus effort.
Paris AP reports the reparations issue rests with allied premiers and no decision on Germany’s request for a moratorium is expected before the opening of the allied council in London next month. Premier Poincare plans talks with Lloyd George and other premiers, signaling a push for a comprehensive settlement.
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