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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Feb 21, 1902
Page
2
The cotton market opened easy and declined through the morning under active selling and bear pressure, driven by Liverpool weakness and larger port receipts. May futures slipped to 3.45, then steadied near 3.40 as export clearances remained robust and interior stocks showed shortages, while southern spot markets held firm.
Spot quotations show widespread quiet to steady conditions across U S ports with middling mostly around 8 to 8 1 8 cents and several markets reporting quiet or dull trading. The Liverpool market notes limited demand, higher prices, and substantial sales with overall weak tendency as receipts rise and export demand adjusts amid mixed futures movement.
The market shows heavy receipts with Europe delaying a decisive drop. Port figures rise while small crop estimates persist, despite expectations of a sharp decline. Bulls stay firm as New York manipulation and strong buying keep prices buoyant amid weak interior tips.
New Orleans market mostly quiet as favorable buying orders and firm factors offset mild advances. 2100 bales traded with 350 arriving. Liverpool futures opened lower then closed 1 to 2 points higher. Cotton goods, flour and grain showed mixed activity across New York and Atlanta reports, with wheat, corn, oats and pork varying in price and demand across several exchanges.
The report lists prices and receipts for apples, bananas, pecans, almonds, and other nuts in Atlanta and Savannah with crates and crates pricing. It notes turpentine and rosin market activity in Savannah and Wilmington with firm quotes and receipts figures, and shows general price movements across commodities like turpentine, rosin, and belief on the February market.
New York February 20 The attorney general declared belief the Northern Securities Company violated antitrust law and will file equity in the Supreme Court, prompting a broad stock market decline. Declines topped 2 3% with notable losses in transcontinental and rail issues as traders priced in likely merger challenges and government action.
Chicago February 20 grain markets moved in a seesaw pattern with May wheat near unchanged, May corn up 4c, and May oats up 4c. Wheat opened bearish, later steadied on export sales and short covering as receipts remained modest. corn mirrored wheat with support from hedging and West movement. Provisions eased slightly as hog prices softened, new buying emerged late, and overall activity remained modest.
The market lists prime steers at 6.60 to 7.00, poor to medium 4.60, dockers and feeders around 2.50 to 2.75, cows about 1,295.25, heifers near 2,5045.50, calves actively sold, bulk lots around 12,000 with listings for cattle items and price ranges reflecting mixed demand and steady activity.
Market notes show receipts of 4 500 hogs and large cattle and sheep runs with strong prices across beef, steers, cows and lambs, including Texas and Indian origin. In the courts, Continental Land Company seeks injunction to bar Sallie and W J Stephens from trespass at Hill Ormond and Grant. two suits against Atlanta Railway and Power for 1 000 each allege negligence. Mrs Elizabeth Southern, 89, declared insane and committed to asylum after violent conduct toward her family.
Rev Virgil Norcross asked Chief Ball to prosecute offenders and close houses of questionable character in the city. The request follows recent city council action granting the chief expanded police powers. The chief gave a respectful hearing and said he would consider the matter as the power expansion enters a new phase.
To the public the line south of the Potomac charging two cents per mile is the Seaboard Air Line Railway serving Atlanta Richmond Portsmouth Wilmington and Charlotte. For information contact Harry S. Krouse City Passenger and Ticket Agent or W. Christian Assistant General Passenger Agent Atlanta Ga.
Savannah February 20 Special President Henry Blima of the Germania bank purchased the corner occupied by Livingston’s drug store and other businesses at Bull and Congress streets fronting Johnson square for 70000 dollars. A cablegram from Captain Blun to owner W W Low of London closed the sale and the purchase was ratified by the bank directors with work to begin soon on plans for a handsome new banking building in Savannah.
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