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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Jun 21, 1921
Page
4
New York June 20 A Wall Street veteran notes a highly charged atmosphere and expects the current selling wave to end soon with a rare bargain opportunity for ready money. Rail stocks, New Haven up, steel shares fall to year lows while oil stocks slide, and Mexican Petroleum holds near a bottom.
City council will again consider Kirkwood annexation at a Thursday adjourned session after a Monday vote. A second item on the agenda is Councilman Woodall’s move to close or move the Atlanta curb market for alleged ordinance violations, with the assistant city attorney backing the legality of the first point.
Walter C. Foote chairs a chamber of commerce effort to recruit fifty more men for a Atlanta battalion of the Georgian National Guard. A special meeting is set Tuesday at 4 30 PM in the Chamber of Commerce building to discuss mobilizing civic support, with leaders from banks and corporations pledged to help. If targets fail, options include coordinating a nearby city unit or abandoning the project.
Funeral services for Edward F Potts 88, a well known Atlanta native and former businessman, were held at 10 30 a m Monday in Barclay Brandon chapel with Bishop Warren A Candler officiating. Interment followed at North View cemetery. He died Saturday at his son J B Potts 30 North Whiteford avenue. He served in the war and is survived by a grandson Tack Potts.
The Fulton National bank board, at the June 16 meeting, declared a 3 percent semi annual dividend on capital stock payable June 1 and added profits to undivided profits. Building progress on the new bank facility targets occupancy by November 1 and promises a modern, handsome southern landmark.
The Atlanta alumni of Kappa Alpha held the first la dies luncheon at the Ansley hotel main dining room. More than fifty guests attended with many feminine friends. Dr. W F Melton of Emory University acted as toastmaster. Ladies present included Mesdames Melton, Willet, Drewry, Avary, Latham, Disosway, Eastman, Winn, Red ding and Misses Pratt, Brown, Moody, Haverty, Harwell, Turman, Hamilton, James, and Lawrense.
Funeral services for Marshall Ford Morris, Atlanta architect of note, were held at his home on Highland Avenue with Dr E A McConnell of Druid Hills Baptist church officiating. Interment followed at West View. Morris, 57, came to Atlanta in 1888 and designed many apartments, churches and public buildings. He was a member of Druid Hills Baptist church and the Knights of Pythias.
A broad market downturn hits New York stocks on June 20 with steels, railroads, and key industries leading losses. Canadian Pacific falls further to a 1901 low while US Steel drops to a five year trough amid weaker call money and mixed foreign exchange.
A chaotic freight and cattle market entry shows ships arriving and sailing on June 20 from ports including Naples London Havana Tampico and New Orleans. Entries list vessels such as Frisia, Nebian Brij and Ellin with arrivals at New York Seekonk and Galveston. Cattle prices and stockyard figures appear with prices for steers cows and sheep, noting June 20 cattle yields and per hundredweight figures.
Chicago wheat fell sharply as stock and cotton weakness pulled prices down. July and September futures slipped to about 1.24 to 1.25 and 1.20 to 1.204 respectively, corn and oats mixed, provisions higher as farmers delivered large wheat receipts at Hutchinson and Kansas City.
Coca Cola stock rose to over 2 per share after news of a settlement with bottlers. Officials said net earnings for the past two months cover the preferred dividend, boosting market confidence. Attorneys for Coca Cola and bottlers reached a outside court agreement settling the contract dispute and a price increase for syrup. Further talks planned through the week with signatures expected later.
New York reports increases in grain stocks with wheat up 1 210 000 bushels corn up 1 010 000 oats up 764 000 and barley up 65 000 while rye falls 292 000 bushels. The item blends with a stray dialogue quote and an American Legion weekly blurb.
From an English Journal's report of a whist drive two boxes, each rentsi nine a dozen eees, were given by Mrs. Blank for the two longest sitters. Heaten Transcript.
From Savannah and Jacksonville naval stores markets, turpentine and rosin totals show sales, receipts, and shipments with variable window glass and water white prices. In Savannah figures include sales around 850 and shipments over 1,000, while Jacksonville lists receipts near 571 and shipments about 7,598, with rosin activity and price notes for window glass and water white.
Swift and Company announces closure of operations in Chicago effective June with final shipments halted and staff adjustments underway. Official notices advise customers to switch to alternative Swift supply channels and refer inquiries to corporate offices.
New York June 20 There was a continuation of the selling movement in the cotton market driving prices to new lows for the session. October fell to 11.22 a net 82 point decline, while December and July also showed declines amid liquidation and broad selling pressure. Trade entities including Japanese-linked houses bought on the break, late-day rallies followed on cover amid talk of easier call money rates. Exports reached 18416 bales for the season. US port stocks stood at 1,624,193 amid broader market nerves and weather news. General market uncertainty and government planting restrictions were cited as factors reducing acreage.
New York reports unfavorable Liverpool cables signaling limited buying power and continental unrest. Prices faltered as stocks and weather weighed on sentiment. some buying noted in New England and by Japanese interests. Liverpool and London agents show mixed futures, with a drift toward selling and expectations of a sharp rally on favorable news.
New Orleans June 20 Spot cotton quiet with sales on the middling 11.8 percent. stock on hand to arrive 190, low middling 8.125, middling 10.48, good 458,257. The broader cotton market moved to new low records for the season as July and October futures dipped, later showing a technical recovery amid hedging. Labor unrest in Britain and unsettled Gulf storm reports influenced prices, while favorable belt weather and increased offerings kept declines in check.
Prices quoted by Wilinlesaiera to retailers corrected daily by the State Bureau of Markets in Atlanta. Listings include live poultry like fowls and turkeys, fresh and canned groceries, vegetables, and meats with per dozen, per pound, and per ton rates. Also shows dressed beef grades No 1 to No 3 and live stock market quotes for steers, cows, and heifers with price ranges.
New Orleans and several regional markets report mixed cotton activity with receipts totaling 15,749 and exports at higher levels. Middling prices range around 9.00 to 10.25 with notable stock and shipment figures across Galveston, Charleston, Texas City, Norfolk, Philadelphia, New York, and interior markets. Week totals show receipts near 6.3 million and exports around 4.78 million, with regional variations in price and stock levels.
Washington June 20 A reduction of 26 percent in acreage planted will cut the Egyptian cotton crop this year to about 500 million pounds if normal conditions prevail throughout the growing season according to census data. The area under cultivation was set at 1,400,000 acres. The 1921 carry-over was ss.
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