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Newspaper
Atlanta Georgian
Location
Atlanta, Georgia, United States of America
Date
Jun 17, 1913
Page
4
By B. C. Forbes a warning against issuing 500 million Aldrich notes. He argues gold will flee to Europe, inflation risk rises, and credit worsens. He urges less borrowing, more saving, and restraint by Treasury and banks to avoid currency flood.
SAVANNAH June 16 Early indications show Herman C. Shuptine likely to win the Legislature seat from Chatham County to succeed Pleasant A. Stovall resigned The morning vote was fairly heavy J J Bauhan the other candidate runs a close second Shuptine is the administration candidate.
Count Adolf Von Bernstorff, son of the German ambassador in Washington, begins work in the banking firm Cofr & Co. on Pine Street in New York. The report notes his return from Europe and his new role in the financial house.
In Alliance Ohio on June IV a mine blast near Piney Fork killed four and injured ten others. Officials say a shorting electric wire ignited a keg of powder, causing the explosion this morning.
The cotton market opened steady in New York on June 16 as firm cables and strong spot demand outweighed cautious selling amid favorable weather outlooks. Bulls covered heavy shorts and July and August futures rose, with new crop demand strongest, while Old crop trading remained active and prices closed higher than Saturday.
Liverpool cotton market opened slightly higher for August and other positions, steady with a net advance of 1 to 2 points. Spot cotton firm at middling plus 2 points. Trade shows 10,000 bales on hand with 9,506 American imports. By close, prices firm with small gains versus Saturday.
New Orleans June 16 report notes favorable Sunday weather with only South Texas seeing meaningful rain. Temperatures run 10 to 20 degrees above Friday and remain normal. Louisiana and Texas coast areas may be cloudy and showery. Memphis weekly crop outlook favorable. Liverpool market opening strong with 10000 bales traded. New York crops bullish. New Orleans futures range noted.
The cotton market shows varied quotes across cities with middling grades ranging from 11% to 12.45 cents. Notable entries include New York steady at 12.35 and Philadelphia at 12.45, while Savannah and Charleston report steady to quiet with middling around 12 cents.
In Memphis on June 15 New York traders lean bullish as selling slows and demand remains limited. Ideal Sunday weather boosts crop prospects, while summer softness and steady spot demand shape cautious sentiment. Short interest shrinks though the extent of the swing remains uncertain.
New York stocks opened weaker as declines spread through the list despite initial advances in some issues. Union Pacific slid a full point, New York Central and American Can rose, while Canadian Pacific and Southern Pacific retreated. Call money loaned at 1 percent.
New York reports show aggressive ring selling and strong demand from Memphis and Wall Street buyers driving a rapid short covering rally. The Times-Democrat bullish report spurred buying despite bearish Turner's note, with weather favorable and limited bears. New Orleans Weather maps predict generally warm, fair conditions with scattered showers, while the Times-Democrat surveys 1913 crop prospects noting slight acreage gain, fair overall condition, sparse labor, and uncertain boll weevil impact.
Logan and Bryan express reluctance to cut recessions, sticking to a cautious stance. Browning and Co. anticipate narrow fluctuations and advise selective purchasing on setbacks to secure moderate profits.
New York on June 16 reports money on call at 1% to 2%, time money steady with 60 days at 4% and six months at 5%. Sterling exchange at 4.3354 with bankers' bills at 4.83% to 4.87% for demand and 60-day bills, prime mercantile paper unchanged.
Chicago June 16 reports wheat closing at the best prices with gains 14% to 14 1 2, aided by bull fever and light spring rains. Corn up 14 2 percent and oats up 2 4 percent. Export clearances for May total 11,151,000 bushels with grain’s visible supply showing weekly changes: wheat down 1,701,000. corn up 2,935,000. oats up 773,000.
The New York metal market showed weakness with copper quoted around 14 percent for spot and nearby months, tin at about 45.20 to 45.50, lead 4.25 to 4.35, and zinc and spelter near 5.00 to 5.15 as of June 16.
Boston stock openings list Alouz 89, Alaska 10, Calumet Arizona 60, North Lake 142 as mining names. Bar silver steady in London at 275 16d. New York Produce notes crude Pennsylvania at 2.50 and a wide run of commodity prices including turpentine 39, rosin 4.40, wool gains, hides steady, coffee options down, rice steady, molasses flat, raw sugar around 3.33 cents, refined sugar firmer, and a broad array of baking items with prices for flour, sugar, and related goods. Potatoes steady white near 1.00, beans and dried fruits showing small moves.
Washington forecasted local thunderstorms this afternoon in the Ohio Valley and the north Atlantic states. Elsewhere, generally fair and warm weather prevails tonight and Tuesday across most areas east of the Mississippi River. Georgia and the Carolinas experience fair to warm conditions with possible showers in the southeast. Louisiana and East Texas see showers in coastal areas, interior fair.
Wheat opens higher and closes with gains as rain and dry spells influence North Dakota fields. Corn shows bullish mood on drought fears, yet limited damage reported. oats suffer from lack of rain and heat, colors and growth remain poor. Bartlett and Frazier offer mixed notes on spring wheat conditions.
The article lists fresh country eggs at 17 to 18 cents, butters at 27 to 30 cents per pound, and undrawn poultry prices for hens, cocks, and turkeys. It also covers diverse fruits, vegetables, fish, and an extensive flour and grain price slate with many brands and patent grades.
Memphis reports from the Cotton Exchange indicate a generally good cotton crop across the South. Heavy rains boosted plant strength and weed-free fields, with plentiful labor and fewer claims raising profits. Corn acreage in Tennessee Mississippi and Arkansas is up as farmers expand into waste lands.
Marshall Field & Company reports total sales in dry goods rise for the first two weeks of June versus the same period last year. Wholesale and retail show strength through mails and traveling men, with favorable fall lines and strong prospects in Southeastern states and Western regions amid good crops.
Live stock market notes from Chicago with mixed hogs and beef prices. Receipts around 5,000 hogs and 18,000 cattle. hogs 8.40 to 8.90, cattle 4.25 to 10.25, sheep 3.50 to 6.15 for Western and lambs around 7.75 to 8.00, across several categories and regions.
The Sunday American proclaims itself as the Souths market place and best advertising medium, promising wide reach across the region for sellers and businesses.
Four hundred bondholders representing 193 815 dollars and 200 stockholders with 1715 shares petitioned the Superior Court Monday to block a receivership for the Guarantee Bank and Trust Company. Judge John T. Pendleton reopened the case. decision expected in three to four days. Petitioners seek to intervene as defendants. their counsel includes Rosser & Brandon Napier Wright & Wood and Tye Peeples & Jordan.
Joseph Franklin a prominent wholesale grocer was assaulted Sunday night near 151 Washington Street by three facially described men. A pistol was leveled at his head as he resisted and attempted to seize a diamond in his shirt. Franklin tackled one assailant and broke away as others pursued with gunfire.
New York. Miss Jean Morrell the boxing girl of the movies returns from Europe on the ship she challenged every suitor to a three round bout in the gymnasium. Only one drew. One suitor swore he would not hurt her. One blow dropped him for the count.
Fresno police investigate an auto collision blamed on joy riders that killed Sister Alsoque mother superior of St Augustine's Academy. Sister Agnolia was seriously injured and two other Sisters and a Japanese chauffeur were slightly hurt after the car carrying them was forced into a ditch.
Washington, June 16. A one man filibuster by Senator Jones leads to a halt in the investigation of the insidious lobby. the probe will end once the tariff bill is introduced in the Senate. The committee may need three Democrats to maintain a quorum while sugar and wool lobby inquiries proceed.
Charles S. Barrett of Union City Georgia leader of the Farmers Union spoke in Los Angeles praising Hearst newspapers and John Temple Graves for aiding the union. He said the organization has 38 000 lodges and 3 000 000 members and emphasized education cooperation and diversification of farming. Barrett planned to attend conventions in Basin Wyoming and Bismarck North Dakota before returning.
Columbus tribes of Red Men have completed details for hosting the Great Council of Georgia Red Men, meeting here Wednesday for a two day session. Delegates begin arriving tonight to start work, with the eighth and likely largest state gathering in Columbus this year.
Lieut Von Egan Kri eger after winning the first race at Madgeburg flew 76 miles to Berlin and won the fifth race at Gruewald race course. The adventurous flyer, a gentleman jockey, immediately afterwards added another victory in a separate contest.
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