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Newspaper
Atlanta Georgian
Location
Atlanta, Georgia, United States of America
Date
Jun 16, 1913
Page
2
B C Forbes argues that flooding the country with $500,000,000 in Aldrich notes would drain gold to Europe and worsen inflation. He notes current bank loan growth without cash backing, urges less borrowing, emphasizes capital comes from saving, and urges Treasury restraint during looming crop movement.
Savannah reports early indicators that Herman C. Shuptine will win the Chatham County seat in the Legislature to succeed Pleasant A. Stovall who resigned. The morning vote was fairly heavy with J. J. Bauhan running a close second. Shuptine is the administration candidate.
Count Adolf on Bernstorff son of the German ambassador in Washington is working in the bank Speyer and Co in Pine Street. He is studying finance in preparation for a diplomatic career.
In Alliance Ohio a mine blast near Pin Fork injures sune iv men and fatally wounds four. The explosion was caused by a short circuited electric wire igniting a keg of powder, with authorities investigating the incident.
Firm cables and solid demand from spot buyers push cotton prices higher at the open in New York. Traders cite favorable weather in the coming week and a bullish crop report from New Orleans as boosting interest, with July and August showing the strongest buying and new-crop positions leading gains.
Hayward and Clark’s Daily Cotton Letter reports favorable Sunday weather with only a minor South Texas exception. Temperature rises bring near normal warmth. Louisiana and Texas coast regions may see clouds and showers. Liverpool market opens with large 16,000 bale sales. New York market shows strength, with August at 12.06 and October at 11.58 amid July demand.
Cattle receipts in Chicago reach 18 000 with prices up to 9 10 for beef and cattle, hogs around 8 90 for heavy pigs, and sheep at 3 50 to 6 15. Louisville reports 1 500 cattle with steady beef steers at 5 75 to 8 75, hogs strong 8 50 to 9 00, and lambs at 7 75 to 10 25 in another regional snapshot.
Liverpool June 16 market opened 1 point higher on August and near positions but remained quiet with a 1 to 1½ point advance. By noon trade was steady with 1½ to 2 point gains, spot cotton up 2 points and demand strong. Total sales 10,000 bales including 9.50 American. imports 15,000 bales, all American. Close firm with a net gain of 44 to 7% points from Saturday quotes.
Miller Cotter Cotton Letter from Memphis notes New York markets tilt toward the bull side as selling remains scarce. Despite ideal Sunday weather and favorable crop reports, the pace of advance depends on summer demand and spot market activity, with short interest markedly reduced.
Logan and Bryan favor buying on recessions from current levels while Miller and Co expect higher prices. Browning and Co anticipate narrow fluctuations and recommend purchases on setbacks for moderate profit.
New York June 16 The market opens steady then steadies after a sharp early drop. The Times-Democrat crop report is bullish and triggers heavy buying and short covering. July purchases lift spot prices as demand remains active. New Orleans June 16 Weather maps show warm, fair conditions across the belt with only scattered rain in South Texas and light showers near the Gulf Coast. The Times-Democrat reporters estimate a small 3 percent acreage increase, generally fair conditions but poor stands in places, labor shortages in some districts, and a highly spotted belt with next month’s weather crucial. Boll weevil concerns are noted but damage not yet clear.
New York traders opened with a softer tone as major issues declined from early gains. Union Pacific fell a full point, Canadian Pacific slid, and New York Central along with American Can and other leaders traded lower.
New York June 16 petroleum crude Pennsylvania 2.50. turpentine and rosin ease. wool active domestic fleece and Texas scoured bases. hides quiet. coffee steady with Rio No 7 down. rice steady. molasses steady. sugar refined ranges across grades. beans and dried fruits mixed. fruit and raisin quotes noted. mining stocks list. bar silver steady in London. The Sunday American notes its reach as a regional market place advertisement medium.
Wheat prices rose in morning dealings with July above Saturday’s closing range and September and December modestly higher. Bullish sentiment persists despite heavy Northwest rains. Duluth Minneapolis receipts doubled year over year. Liverpool unsettled amid Russia’s favorable conditions. Corn advanced and remained firm with mixed December futures. Hog market showed mixed changes with pork higher and lard ribs lower.
Chicago cash quotations show wheat and corn ranges with No. 2 red wheat at 1.02 to 1.06 and No. 2 corn at 62 to 62 1/2. Bartlett Frazier Co. notes a nervous market due to weather in North Dakota, with some rain easing spring wheat nerves while corn remains bullish on dry conditions and limited crop damage. Oats are pressured by drought and high temperatures, with color and growth issues cited as important factors.
Wheat opened modestly higher at 1 30 pm and finished fourpence higher. Corn started fourpence higher at 1 30 pm and closed with gains of a halfpenny to a penny as the market moved through the session in Liverpool.
Washington reports probable local thunderstorms in the Ohio Valley and the north Atlantic states this afternoon. Otherwise fair and warm weather is expected tonight and Tuesday across most areas east of the Mississippi, with Georgia to Tennessee generally fair and warm, and Texas showing interior fair with coastal showers tonight or Tuesday.
Miss Margaret Wilson and her sisters will take turns caring for President Wilson this summer while marooned at the White House by tariff and currency bills. Margaret visits the Middle West first, then stays with Mrs. Joseph E. Davies in Madison Wisconsin before rejoining her mother in Cornish New Hampshire as the second sister visits to care for papa.
Prize winning anti-suffragist essays received at headquarters claim the birth rate in America is falling due to suffrage activities. One essay states a suffragist approaches motherhood as bankrupt and asserts marriage is barren and offspring defective in mind.
Reports from the Cotton Exchange on June 16 indicate the cotton crop across the South is generally good. Heavy rains have strengthened the plants, fields are weed-free, and labor is plentiful. Planters expect higher profits as fewer claims arise. Corn acreage in Tennessee Mississippi and Arkansas has grown, with farmers using thousands of acres of waste lands for planting.
Marshall Field & Company reports total dry goods sales for the first two weeks of June compare with last year’s period in both wholesale and retail. Mail orders and traveling salesmen stay strong after a preinventory sale amid cool weather. Collections improve. Demand for fall lines, especially silks and women’s wear, grows. Southeastern states show favorable prospects. Pacific Coast and Rocky Mountain merchants cite good immediate retail sales and optimism for abundant crops.
The Atlanta market report lists fresh country eggs at 18 cents and butter at 17 cents per pound, with undrawn poultry prices for hens fries turkeys and ducks detailed. A wide range of produce fish flour and grain goods follow, including lemons grapefruit cauliflower bananas cabbage peanuts lettuce peppers tomatoes pineapples onions and celery, plus notes on coffee sugar lard and assorted groceries with per-unit and per-case pricing across multiple vendors.
The weekly visible grain supply report records Wheat down by 1,701,000 bushels while Corn rises by 2,935,000 bushels and Oats increase by 773,000 bushels as the market appetite adjusts.
Mayor Woodward notified the Council he approves the June budget and the 260000 crematory purchase but will not act on an option from Destructor Company for an electric power plant. He says the 1912 contract is illegal, urges a new contract incorporating its terms, and abstains from further action to allow city benefits from concessions.
Richmond report notes A L Christian of Waycross Georgia surrendered to police after confessing theft of 100 dollars from his fruit business partner Dan Fo onett. In police court his case was continued until June 21 awaiting Georgia information. Christian wishes to return to Waycross to serve his sentence and make it his home. He left Waycross a month ago.
Rev Gottfried Hahn, recently ordained minister of the German Evangelical Church, departed for Purulia India to tend a leper colony. Eleven family members including his aged mother had previously served there, risking infection while ministering to lepers.
Four hundred bondholders representing 193 815 and 200 stockholders with 1715 shares petitioned the Superior Court Monday morning not to appoint a receivership for the Guarantee Bank and Trust Company. Judge Joan T. Pendleton reopened the case. a decision is expected in three or four days. The petitioners seek to intervene as defendants. Attorneys are Rosser and Brandon Napier Wright and Wood and Tye Peeples and Jordan.
Joseph Franklin a noted wholesale grocer was accosted by three hoodlums near his home at 151 Washington Street. They demanded his money with a pistol and one thief tried to seize a diamond. Franklin wrestled the assailant to the ground and fled as shots rang out.
Miss Jean Morrell the boxing girl of the movies returns to New York from Europe. On board ship she challenged every suitor to a three round bout in a gym. One match ended in a draw and one suitor was knocked down for the count. Another suitor pledged not to hurt her.
Fresno report says joy riders caused a collision injuring Sister Agnolia and two other Sisters while their chauffeur and Sister Alsoque, mother superior of St. Augustine's Academy, died. A Japanese chauffeur was slightly hurt as the car veered into a ditch during the incident.
Washington reports a one man filibuster in the Senate by Senator Jones leading to the termination of the lobby investigation once the tariff bill is introduced. The three Democrats on the committee may be needed to maintain a quorum while the panel finishes probes into the sugar and wool lobbies.
Charles S. Barrett of Union City Georgia, head of the Farmers Educational and Cooperative Union, lauds Hearst papers and John Temple Graves for support. Barrett visits Los Angeles en route to basin Wyoming and North Dakota conventions, notes Union growth to 38 000 lodges and 3 000 000 members and emphasizes education and cooperative farming across regions. Georgia progress cited as fourth in agricultural output. He rejects partisan politics and says the union focuses on education and cooperation.
Columbus tribes of Red Men have completed details for hosting the Great Council of Georgia Red Men. The two day session opens Wednesday with delegates arriving tonight to begin work. This is the eighth and likely largest state gathering in Columbus this year.
Lieut Von Egan-Krieger, after winning the first race at Magdeburg, flew 76 miles to Berlin and immediately entered the Gruewald race course fifth race, winning handily.
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