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Newspaper
Athens Banner
Location
Athens, Georgia, United States of America
Date
Sep 07, 1922
Page
5
In Macksonville Pla Derail Bent or the Southern railway line near Cincinnati, locals blame strikers for an overnight derailment outside the hilload yards. The train remained upright, no injuries reported, and officials announce a slow run prior to the incident.
A 67 year old Moeusts Man died after falling eight feet from an eight foot scaffold on a building under construction in Augusta. The man was employed on the site and succumbed to injuries at the scene.
A garbled clipping claims Cutis Glider ascended from water for 40 seconds and mentions I r Sa Curtis and Larine muded at Ingeset Bay with unclear context. The fragment references a public figure and place but lacks coherent details or verifiable facts.
Market wires report irregular foreign exchange with British and European currencies quoted, and money market rates steady. New York stock openings show most issues irregular with slight gains led by certain utilities and industrials, while some rails and metals show mixed results amid cautious trading.
Early Wednesday trade in Chicago markets drifted lower as hedging sales weighed on prices with little demand present. Wheat and corn opened near steady then eased. oats mostly firm to up briefly before turning down. Cattle and hog receipts were large, prices uneven, with beef steer and hog values generally softening. despite some firm spots, overall market remained weak with notable declines in several categories.
Local cotton prices slipped again with Middling 20A Cert down to 204% cents a pound, about 25 points below Tuesday's 21 cents. New York trading opened weak, later firms as hedging and buying surfaced, October near 20.90, December dipping to 21.15 before rallying to 21.40. Spot New York at 20.55, with New Orleans finding hedge selling and brisk weather reports affecting prices.
Chicago potatoes show weak handling with regional sackings across states. New York dairy stays firm with butter, eggs and cheese steady, while Chicago poultry notes live birds unchanged and butter prices rising.
Spot cotton in New Orleans fell about 50 cents with arrivals 544. Low middling quoted at 19.25, middling 20.50, good middling 21.50. Receipts totaled 541 and stock stood at 43,373.
In New York trading, cottonseed futures closed firm with bids across several months. Prime summer yellow quoted at 4.00, prime crude at 5.75, with Sept 8.10, Oct 7.70, Nov 7.49, Dec 7.55, Jan 7.05, Keb 7.65, Mar 7.76, and Apr 7.90. Total volume reported 20,400.
Liverpool cotton market shows steady demand with weak prices across grades. Good middling quoted around 13.02 pence, fully middling near 12.87, and lower grades easing. 7,000 bales on sale, including 5,200 American, receipts 5,000 bales, no American. Futures quoted Sep 12.1, Oct 11.708, dec 11.83, Jan 11.79, Mar 11.75, May 11.67, Jul 11.57.
New York raw sugar futures posted a nominal change as centrifugal grade held at 5.24 with no sales reported. Refined sugar remained unchanged at 6.75 for fine refined, with no trading action captured in the report.
John White Morton and his two daughters Margaret and Louise have returned home from an extended trip to the Pacific coast, the Canadian Rockies and Alaska. They enjoyed the journey and were charmed by the Rockies and Alaska. Mr Morton, president of the National Bank of Athens, was complimented with the trip by the bank directors and spent about two months on the voyage.
Washington reports a nationwide referendum among 1,400 chamber of commerce groups on making par check collection universal. A special committee urged passage by law if needed, noting almost all member and non-member banks remit at par, while many non-members charge 1/8 to 1/10 of 1 percent. The committee warned universal par remittance could burden commerce due to the vast volume processed by reserve banks in 2020.
The text argues that if banks were charged for the cost of collecting checks deposited by their customers and for remittance services, their profits would be affected. It contends that net gains from remittance would vanish under a system where all banks levy charges, as costs would offset the fees banks collect from customers’ checks.
Washington reports the erection of a new hospital to cost 750,000 for disabled service men in the fourth district covering Virginia West Virginia Maryland and the District of Columbia will start when a suitable site is obtained.
Director Forben announced the veteran bureau will inspect several sites. He cited visits to Goatien Virginia and Penh Springs New Virginia as part of the effort to assess available facilities.
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