The Augusta herald. (Augusta, Ga.) 1914-current, November 23, 1924, Image 7

The Augusta herald., November 23, 1924, Page SEVEN, Image 7

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Newspaper Page TextSUNDAY, NOVEMBER 23 COTTON AND GRAIN. N. Y. STOCK MARKET , Twenty Twenty atur/iaxr industrials, railroaus. FrWn v &y 108.21 ”.91 W„2S y 107.94 97.75 HiEh' 107 • 50 »5.94 Low lwl 109.19 98.27 >£•. 79 - 4 , 90.27 81.00 Total sales, 976,000. Rhck'Lan^h '~ Hea u Vy bu > ln S °f «ock isiand shares abruptly cheeked stock °m a JX 4ende , ncies in Saturday's laterJn , ke L. a J I<s b4 *nught about a ? ' "’ hl<sh carried a score or isßue i’ to new 1924 peak prices. J.® led upon to absorb a large vol ume of realizing sales, the market at bear «kl?i ,lm « withstood a concerted leading i "* attack directed against recession SSU f S ' " hlrh general the l of °5 e t 0 thrpe Points In !.-e e r fl7st bour °f trading These losses rices r nf°el. before th " oloße Br, d SnwLrd' aSSeB ° f BtOCks asaln ereVi!! OJEh 4l l e pfir< “ of trading mod in the ,^ ne n hat Saturday, total sales a ni fine r hoUr St ' BSlon ran close to of aeVb". t r h ? r ®*.u an 1 ,h '' su dden hurst del-fvi,. Jv, ' n . th r 7 nal few minutes minutes. the BtoCk tlcker by twelve te?e n , buyi , nft r rt, dlren to hanking ln c£se,.y. affiliated with the ieni IPrn 7ac 'f' c Company. Rock Is land common, sorred four points to iho 'rol WtbU t 0 nc ' v to P prices Ul . oad s two p-eferred issues, miiwimeil by the recovery In rail ex numerous industrials resumed ‘rt ! ’/’ v an.ee Which had been check ed m the f, rst hour. of tile best demonstrations of p".,, 1h "' ,s * lv «n by the Wilson Comnanv Issues, which re- V 1 Of progress in re or ".ns-tmn plans. Mode-ete rdvnn-es in storllrg „,,d rvcbsne2 rkn,, i ,ra<lln * in tbe forei Sn exchange market. NeW YORK. Record - breaking trading in the stock market, which overcame onslaughts of profit-taking and demonstrated its ability to resist sell'ng pressure, featured this week's financial markets. Activity continued at the same terrific pace which has been maintained since election day. Daily sales continued to average bet ter than two million shares. Bond trading expanded in line with the swollen volume of stock dealings. Foreign exchange trading was fea tured by the return to par of Dutch guilders—the third European cur rency to get back to parity since the v.ar. Demand sterling held near the year's high level of 94.04 and French francs were slightly higher in reflec tion of the approaching loan of SIOO,- 000,000 to France. NCW YORK STOCK LIST. Close Allied Chemical and Dye 70 American Can 142 American Car and Foundry 172 American international 24 American Locomotive 0314 American Smet and Refg 54% American Sugar 47Vi American Tel and Tel 129% American Tobacco , j 163% American Woolen 58 Ariaoonaa Copper 2Sli Atchison ..,.112% Atlantic Coast ild'e 7.......141 V< Baldwin Locomotive ........... .12.) Baltimore 'an* Ohio 09% Bethlehem Steel 44% Califonia .Petroleum 23% Canadian Pacific 152% Cerro de Pasco 47% Chesapeake and Ohio 90% Chicago. Mil and St. Paul pfd... 30 Chicago and Northwestern v.... 09 Chlcgo. R I and Pac...;.., So Chile Copper 38% Coca-Cola 73% Cnngoleupr ...... 43% Consolidated Gas 75% Corn Products ••3 Cosden Oil Crucible Steel 04% Cuba Cane Sugar pfd 20% Cuhsp-Apierican. Sugar 29% Davison Chemical 41% Dunorl de Nem Erie .31 F. ~-nnus Players-Lasky •, General Electric t. .. .27* General Motors 08% Great Northern pfd . 70 Gulf States Steel «"!% Houston Oil • • '7... Illinois Central 11"% Inter. Harvester • log Invincible Oil ;«•• 4 ” Kelly-SrfffneTieid, Tire.' ...i.. Kennecott Copper <9 Louisville and Nashville “04% Mack Truck im Marland Oil rv- 4 J Middle states Oil 1% Missouri, Kan and Tex *O% Missouri Pacific pfd New York Central D7l< N Y. N H affd Hartford 31% Norfolk and Western 126% Northern Pacific 701/ Pacific Oil ' 54% Pan-Am Petroleum 8.. 54 Pennsvlvania 47% Phillips Petroleum 37 Producers and Refiners 28% Pure Oil 27% Reading ••• 57% Republic Iron and Steel 48 Reynolds Tobacco B 77 St. Louis Southwestern 54% Seaboard Air Line 23 Seaboard Air Line pfd 30 Sears-Roebuck •.•I" 7 Abell Union Oil 29 Sinclair Con 17 Sloss-Sheffield Steel 1 74 Southern Pacific 102 Southern Railway .. 74U Standard Oil of Cal. 01 1 Standard Oil of N J 37% Stewart-Warner *O% Studebaker Corporation ......... 40% Tennessee Copper 3% Texas Company 40 Texas and Pacific 44 Tobacco Products 7n Transcontinental Oil 1% Union Pacific ’4B U S Cast Iron Pipe 130 XT R Ind Alcohol ;4 XT S Rubber United sPatea Steel 115% Va-Csr Chemical pfd 3% Wctlnghouse Electric ffl; Wlllvs-OverlaPd -pfd Tallow Cab MTg J7J* Hudson ?:% Loew's -is liberty bonds * NEW YORK—United States ion •rnment bonds closed: ‘ Liberty 5% s *l°H| Third 4V. * 10P1* Fourth 4%'s .J®*: Treasury 4% » *® s '* LEAD STOCKS x FOREIGN EXCHANGE NEW YORK.— Foreign exchanges, steady. Quotations in cents: Great Britain, demand 4 63%; ea blFrance*' demand 5 30: cables 53114. Italy, dsmand 1 S3X j.S* bl9l V 1 4 33 ;‘ir Belgium, demand 4 84%; cables, 4 85. Germany, demand 23 »L Holland, demand 40.17. Norway, demand 14 85. Sweden, demand 28.85. Detnmark. demand 1. Swltseriand, demand 9.10. Spain, demand 13.80. Oreece. demand l.i*. Roland, demand 19i t . Gzeiho-Sloiakia. demand 3.01%. Jugo-Slavia. 147%. # Auetrla. deiuand 0014%. Rumania, demand 52%. Argentina, demand 88.00. Prarli. demand 118- Toklo. demand .h. Montreal, demand 1 00. GUARD YOUR HEALTH %»OPHTLACTIC ft' MIN UlnMl *?•♦••<.•• JUter Ir?■>•<(••• loraur* l art* Tub* is*. KJt I. AM cr K:--V Kit Dcjrt. A •I bfftkrotn Sr., B.w Ycrr ffriu (or Clftulif jess =Financial and Commercial News= NEW YORK BONDS Sat'day. Friday. Ten first grade rai15..88.57 88.82 Ten secondary 88.61 88.51 Ten public utilities... .91.25 91.28 Ten industrials 95.23 95.39 Combined average ....90.92 90.93 (Combined month ag0..90.97 Year ago 86.55 Total sales! 310,223.000. NEW YORK.—Sharp rallies in XVil son and Company and fit. Paul Rail way bonds were the outstanding fea tures of Saturday's bond market. Re newed accumulation of semi-specula tive rail issues counteracted the ef fects of profit-taking in other sec tions of the list and prices generally held firm. Reports that XVllson and Company was making good progress in over coming the difficulties which threw the big packing into receiv ership earlier thir, year, brought spectacular advance* in its bonds as well as in its stocks. Although no dertnite developments were said to have taken place in the St. Paul's refunding program, the im proved outlook for solving this prob lem, as a result of the success of the New Haven’s plan, was reflected in a sharp upturn in the road's bonds. Rock Island refunding 4's followed the trend of the road’s shares by ad vancing 1% points and other railroad Issues which tallied net gains includ ed Seaboard adjustment s’s, Now Haven convertible 6’s. Northern Pa cific 4%’s. and Rock Island, Arkansas & Louisiana 4%'s. FOREIGN. Argentine 6s 95 Austrian Govt gtd loan 7s 95% Dom of Canada ss, 1952.... 103 Dutch East Indies Gs, 1962 97% French Republic 7%s 100 .lapan 6%s 92 Kingdom of Belgium 7%s 109% XT K of O B arid I 5%5, 1937 106% U S of Brazil Ss 96% DOMESTIC Amor Agr Chem 7%s 96% Amer Smelting 5s 96% American Sugar 6s 100% Am Tel and Tel deb 6%s 103% Anaconda Cop 6s, 1953 99 At T and San Fe gen 4s 88% Balt and Ohio cv 4%s 89% Chesapeake and Ohio cv Gs 101% Chic and Alton 3%s 48% Chi. Burl and Quinpy ref 5s A... 101% Chic Great Western 4s 62 Chi. Mil and St P cv 4%s 60% Chic and Northwest ref 5s 99% Chicago, R I, Pacific ref 4s 83% Chile Copper 6s .....107 Cuba Cane Sug dez 8s stpd 99% Denver snd Rio Grande ref 55.. 52% Empire Gas and Fuel 7%s 97 Erie gen lien 4s 62% Goodyear Tire Bs. 1931 109 Great Northern 7s A 109% Inter and Gt Northern adj 65.... 65% Inter Merc Marine s f 6s 88% Kelly-Sprinpfleld. Tire Bs.. 97% Mo, Kan and Tex new adj 5s A.. 74% Mo Pacific gen 45...' 64 New York Central deb 6s ...112 N Y. N Y and H francs 7% 96 Norfolk and Western cv 65....125 Northern Pacific ref 6s B 106% Penna R R gen 5s 102% Punta Alegre Sugar 7s 104% Reading gen 4s 95% St L and San Fran Inc 6s 76K Seaboard "Air I.ine con 6s 85% Sinclair Con Oil col 7s 90 Southern Pacific cv 4g 96% Southern Railway gen 4s 74% Southern Railway 6s ...102% Union Pacific Ist 4s 9188 TT S Steel s t 5s 104TJ Va-Caro Chemical 7s 72% Vlfginta Railway 5s 95% Wilson and Co s f 7%s 60 Wlllys-Overland S%s 99% STOGKSAND BONDS (Corrected by T. D. Carey & Co.) STOCKS: Bid. Ask. Augusta Factory 30 20 Augusta and Sav. R. R-... 94 Bon Air Hotel Cor. com... 62 67 Bon Air Hotel, pfd 62 67 Citizens & Sou. 8ank.....245 2.>2 Enterprise Mfg. Co 85 9c Georgia R. R- Bahk C0...197 202 GranTteville Mfg. Co 145 15;> John P..-King pfd 104 —- John P. King, com 110 120 National Exchange Bank.lo6 110 Sibley Manufacturing Co.. 65 75 Southwestern Railway ... 99 101 Union Savings Bank 140 150 BONDS: Bid Ask. Augusta Factory Ba. 1941. 99 101 Bon Air Hotel 7s, 1942 102 104 City of Augusta (basis)...4.Bs* Ga. R. R. & Bkg. 4s, 1947 83 85 Ga R R & Bk. Co 6o 1951.108 —- Granltevllle Co. 7a, 1942..10- Langley Mills 7s, 1943.... 97 98 Sibley Mfg. Co., 7s, 1942..102 104 Stata of Georgia (ba5i5)..4,25% PRODUCE MARKET Flour—Hard wheat. 98-lb. cot ton sacks, bbl 2w’,"®Z'ls Flour—Plain, 98-lb. sks., bbl.. 7.70 Flour—S.-R., sks.. bb1.......... 7.80 Flour—S.-R., 48-lb. sks.. bbls... 7.16 Flour —Best plain, 98-lb. aka., barrel *-75 Flour—S.-R., 24-lb. sks., bbl... 7.10 Flour—S.-R., 24-lb. sks., bbls.. 6.55 Buc’heat, 24-pkg. case 155 Grits, 24 2s. per l-JO Grits, 12 3s, per case 1-90 Grita, fine and medium. »*s per sack * 4 « Meal, 965, per sack 2-50 Meal. 48s, per sack 1-22% Meal. 245. per sack .65 Rice—Fancy, No. 884 or Nd. 113, 100-lb. sks.. lb .06% Rice, fancy, No. 88, lb Wesson Cooking Oil. 84 pints.. 5.75 Wesson Cooking Oil, 12-Qt. ease 5 40 Wesson Oil, 6 1-gal. cans. csss. 9.80 Axis Grease, 100 slit, 1-lb., 4 ■dozen 3 7* SEEDS. Amber Cane, 150-lb. sk» 10 Butter War Rages Y mould reyuerf a freight train of 41/4 oars, 3i mtUs in ' length to haul the 5Z,£ 97.956 \ pound* of butter nou) in itorage CHlCAGO—Ther*'* twlc* a* much butter J pstorags now a, there wee a year Bgo. Vet America housewives are paying higher prices. Today 82,297,958 pounds ere tucked away in refrigerating vaults in the large cities At this time last year there were 48.360.88 D pounds; Retail prices now, outside of the chain stores, range from 60 to 65 cents a pound. A year ago they va ried from 50 to 62 cents. And why is this? Here are opinions from'men who handle it: Retailers are gouging consum ers and are profiteering on butter, George L. McKay, secretary of the American Association of Creamery Butter Manufacturers, believes. “Any cry against high prices can not be blamed against the cream eries," McKay says. “It IS the re tailers who are to blame. Where they used to he satisfied with a margin of six or seven cents, they now demand 15 cents. "Whol'sale prices range between S 3 and 36 cents, compared with 41 and 45 cent* las; year. Retail prices about th>« time l»et year were from SOUTHERN COTTON MILL STOCKS SoutTinn cotton mill atccßs as quoted by IV 8 Pickens and Company, of Gastonia, N. C.. and C:cemrlllo; S. C. Bid Ask Acm» Spinning Company P 9 HU Arcadia Mills 28«» American Spinning Company —4* Am. Ya n and Processing Co 01 96 Am Yarn and Proc. Co.. S'/# pfd..102 105 Anderson Cotton Mills 10J 1P."» Arlington Cotton Mill* 100 10* Aragon Cotton Mills 140 151 Arcade Cotton Mills SO *5 Arrow Mills *—— Art Sloth Mills 95 98 Belton Cotton. Mills 70 75 Belton Cotton Mills, 7% pfd 93 93 Beaumont Manufacturing Co 410 —•— Bibb Manufacturing Co 190 —- Brogon Mills HO *“• Clara Manufacturing Co 87 91 Clifton Manufacturing Company 140 M 2 Cabarrus Cotton Mills 153 15) Cabarrus Cotton Mills 7*5? pfd 106 —~- Chadwick-Hoskina Co. (Par. $25) . 17 -0 Chadwick-Hoskins Co., BT# Pf<4 10 * “77" Chesnce Mills Jjjj China GroT.' Cotton Mills 103 108 Chlquola Manufacturing Co 255 203 Chlquo'.a Mfg. Co.. 6ft pfd 91 Calhoun Mills — t . *}J V Cannon Mfg. Co. (par $10) 14V* 15.* C’over Mills Climax Spinning Co Crescent Spinning Co 98 i< 1 Columbus Mfg. Co. (Ga.) 185 Converse. I). B. Co HS 123 Cowpen Mills "j *7 Darlington Manufacturing Co w 87 91 Dixon Mil’s 101 Dunn Mills, 77. JM flnrhum llcvlety 77- pfd........... Durham Hosier y"B” •’ * Eastern Manufacturing Co 41 EMI. Y»m Mills 63 —■ Eagle and Phoenix (Ga.) JO’ 170 Kflrd Manufacturing Co jo» —* Erwin Cotton Mills Co.. 145 Erwjn Cotton Mills Co.. 87# pfd... 10. -~— Flint Manufacturing Co Gaffney Manufacturing Co »- Gibson Manufacturing Co 1-3 Globe Yarn Mills (N. C.) 4 « Gray Manufacturing Co “ },!; Glenwood Cotton Mills l^ 1 Gluck Mills :I Grondel Mills, pfd 7% (par $50)... 47 ■» Hamrick Mills 14 J., 15 J V Hanes, P. H. Knittlm Co '.» ej* Hanes. P. H. Knitting Co., 7". pfd. 100 loot* Henrietta. 77. pfd.. B9 Hunter Mfg. and Com Co. 7". pfd. 00 Imperial Tarn Mills “J Inman Mills. 77. Vti Jennings Cotton Mill J.iO -6 > Jud=on Mills * ’o.' ■Tmlson Mills 77. Pfd J"; J 9 ' Limestone Mills 149 150 Linford Mills 80 ~r„ I/ila Manufacturing Co--... * I/it-ko Colton Mills Co —— {*' I/iurena Cotton Mills « 150 Maiostlc Manufacturing C 0........ J»5 * Mansflc'd Mills **•’ Marlboro Cotton Mills Mills Mill 59 -’ Mills Mill. 77. Pfd... -Jo lit Monarch Mills (S. C.).... *3O 131 Mollohon Manufacturing Co *». MooreaslU. Cotton Mills ' «■> ‘J? Musgrove Cotton Mills 9 Myrtle Mills 89 National Yarn Mill JJ 9 Newberry Cotton Mills 127 ’?} Norria Cotton Mills Co "? .tl Ore Cotton Mill. 14 * Orr Cotton Mill*. 1% PM 07 os Pacolet Manufacturing C 0......... 306 2‘o Paco’et Manufacturing Co. 77. Pfd. 1"* —~ Pledmont Mfg. Co. (S. C.) ljo Perfection Spinning Co 9 . Poo, F. W., Mfg. Co 121 ’•« Poinsett Mtlta 98 l ?‘ Priscilla Spinning Co Baulo Manufacturing Co Riverside and Han Ri5er......... ■ 214 Riverside and Dan Riser 67. prd.. 100 103 Rowan Cotton Mills Co. ........ «3 100 Roanoke Mills, lat Pfd- 19944 "7^ Roanoke Mil's. 2nd PM. »%■••• ®7 4 ? 9 Rosemary Mills, pfd, 7%7. 99 98 Rhyne-Hou-er Mfg. Co * 9 Reminole Cotton Mills Co ** *2 Spartan Mills ‘JJ Starling Spinning Co IJ 9 lot Stowe Spinning do. JJ Toaxaway Mllla (par 123) 3- J* Union-Buffalo Mills •••••■■•• 99 Unton-Buffalo Mllla. W t(4. J* »* tl* XTnlon-Burfalo Hills. 2nd pfd 5%.. 54% 30 Vlctor-Monaghan Co JJJ **’ Vlctor-Mnnaglian Co.. Pfd 704 119 1 Victory Yarn Mills Co — — 99 Victory. »7e Pfd W 99 Ware Shoa'.a Mr;. Co }** Watts Mills. Ist pfd. 77c.. 101 103 Watts Mills, 2nd pfd 7(4......... 130 140 Winget Yam Mills Co 0., .» Wlsrassett Mills Co I® 9 - 95 Wllllamaton Mills rj 9 "777 Woodside Co'lon Mills 449 44 J Woodside Cotton Mills, 77c 94 % 94 Woodruff Cotton Mills ••••• ' Accrued inletest to be added to preferred •took quotation*. Th« stocks quoted shoes represent Pjw* which vo htTe buyers, and prices »t ![• ran cell. All quotations subject to change with out notice. N. Y. BANK STATEMENT NEW YORK.—The actuii! condition of clearing house banks and trust companies for the week shows an ex cess in reserve of 328.894.080. This is an increase of 324,353,470 compared with last week. DAIRY MARKET NEW YORK BUTTER, EGG AND CHEESE RECEIPTS. NEW YORK.—Butter, firm: cream ery higher than extras. 45%@46c; creamery extras, 44%@45c; creamery firsts, 36%®44c. Eggs. Irregular. Cheeae, firm. „ . , . Live poultry, eteady: no freight Quotations: express quotations, un changed. Dressed poultry, firm; tur keys. fresh, western. 32® 41c; do southweetern, Sl@4lc. Do frozen, 80- ®3Bc. CHICAGO BUTTER, EGO *NO POULTRY RECEIPTB. CHICAOO— Butter, higher; cream ery etras, 46c: standards. 48%c; etra firsts, 41%®41e; firsts, 37®39c; sec onds, 82@35c. Eggs, unchanged. ... , ~ Poultry alive, unsettled; fowls, 14- >4® 2oc; springs, 22c; roostsrs. lot; turkeyn, 27c; e** **. 14c; duckw, 17c, 60 to 52 cents. Now they range from DO to 65 cents, though In chain stores the price Is somewhat below 50 cents.” McKay places all the blame on the retail grocer, who, he says, is squeezing every penny he can from the housewife. Housewives will not use storage butter In the summer months, snd this fact alone Is responsible tor the immense reserve piled up in storage plants, Sol W"stcrfeld, a Chicago retailer contends. He passes the buck on to the women. "I do not know of a grocer hand ling storage butter to the house wife trade,” he says. "As a result of the lack of demand thero Is no hand In the various storage plants a tremendous surplus, nearly twice as much as on the same day last year. “Th» storage men, by propaganda, hope to stlmu'ate trade, In the cheaper butter and thus save the speculators who made bad West* ments. "Fresh hutter today is sold by roe at 41 cents. Rant year It was 44 cents." THE AUGUSTA HERALD, AUGUSTA, GA. MEN 6- MARKETS. BYP.F.B. BABSON PARK, Mass—A $lO,- 000,000 bond Issue expected to be floated here soon by several Ger man cities brings up a vital point In the matter of foreign loans. The recent floatation In connection with the Dawes plan has apparently led the way for a flood of European government and municipal Issues. Should American Investors buy these European bonds? Those in favor point to the fact that we have become the center of the fi nance since the war and that we must lean all over the world to keep our resources working. We are no longer a borrowing nation but have become a lending nation. Logically the thing Is sound but tho cj-utious Investor still wonders just how safe these European se curities are. The answer is found in the future war policies of the coun tries involved. A study of continen tal finance xvill convince you that they can either pay interer.t and principal on their debts, or they can maintain' heavy armaments and support large armies, but that they can not do both. They are much like Mark Twain’s steamboat, they can either blow or go, but they can’t do both at the same time. Toe value of these European securities really depends upon the success of disarmament plans and the future war policies of the debtor states. How the same American can oppose the League of Nations and advise the purchase of European securities at the same time, is beyond us. Cotton trading will open in the Chicago market December Ist. This new market trading In Texas and western cotton should afford one more direct channel for the market ing of a staple. A benefit to both grower and manufacturer that should eventually accrue to tho pub lic. Edward A. Filene Boston merch ant and business philosopher extra ordinary, is now proposing the for mation of great trusts as the only sure method of gaining tlje econo rics necessary to pay high wages and yet produce goods to sell at low prices. Mass production with its economics will insure our f uture prosperity, says Mr. Filene. He points to Mr. FoVd as an example of the principle he advocates and It la difficult to deny that Mr. Ford has done wonders In paying good wages and yet selling his product at a low price with profit. Pig iron price advances of 50c. to $2 last week registered further recovery, inthe Iron and steel In dustry. Just now the industry Is busiest since last spring. If the stiffening continues automobile prices and structural steel costß should be affected. Wages in .Russia present a pathe tic picture. ’Translated into dollars present monthly Incomes are report ed as follows: Accountant $28.22 to $35.44; bakery manager $15.75 to $22.54; clerks $7.35 to $14.18; den tists, $28.22; doctor, $42.00; tailor, $11.15 to $13.13; typist 20.21 to $25.20; telephonist $9.45 to $10.50, and translator 20.21 to $28.22. Yet a good suit of clothes costs SIOO and a pair of shoes sells for S2O. How would you like to work from one to three months for a pair of shoes. Leonard P. Ayres, economist of Cleveland, predicts prosperity for 1925. He believes that business this cominff year will experience great er production and larger margins or profit, speculative activity should bo high in both securities and com modities. He sees a reaction in 1926. Railroads report savings of *93-.- 591 000 on operation* last year. *657,000,000 of this saving was pass ed on to the public through lower rates. *380,000,000 has been saved the public through tariff reduction during the first eight of 1924. These economics are even more important than they Rp P® ar because a reduction In tran * p ° rt ®' tion costs relieves business of productive costs and saves money for everyone all along the line. Cartwheels are coming Mellon is planning to put l0 *° 0 ' 0 "® silver dollars into circulation as auickly as possible to replace as many paper bills. He hopes to save a million dollars in expense by the move. The cost of constantly re placing worn bills, It seems, is too high, and the good old atlvfr dollar will circulate without any expense for upkeep. We »««' p *f t . tl J 1 e d^Ua r folks will take any kind of dollar they can get. Corn took the lead recently in the grain markets and established new high prices. Coming before the new crop is marketed such an ln crease accrues directly to th* farm er. Radio is supplying the fireworks tor the highly speculative wing of the present market. A larg. de.re of uncertainty coupled with vast possibilities appals to a cer,a '" * y P° of speculator. In other roarkjltß h has gone in for copper, railroad*, oil, and motor shares. Just n01 "f Is wild-eyed with wlreleas possibili ties. , __ Kxports last month reached the highest point In three years with out a corresponding Increase In Im ports. The net result was a favor able balance of trade amounting to *2l* 000.000. This balance cannot be expected to continue indefinitely. Kurope cannot buy from us with out selling to u* n return. Kx ports should maintain a *>lglt level but imports may be expected to In crease. Ten cents was the sale P r ' c ®_ pn one of several confiscated automo bile* recently auctioned by New York police. This winter n now low price for an automobll or a new high value on the lowly dime, we don’t know which. STOCK MARKET HOGS. (Corrected by Augusts Stock Yards ) CATTLE. m oil* Common ? »§ f '."sney CALVES. Common £ Ordinary J JJ,?. Oood 2 sist 0 7f# to 100 pound* 9»c 100 to 125 pound* lO<S ,125 pound* and up WEEKLY REVIEW—BEHIND THE SCENES v> IN THE BUSINESS WORLD Stock Market Boom No Measure of General Trade Advance Business Moves Following Election Along Healthfully Progressive Lines By JOHN T. FLYNN NEW YORK—The antics of the Dtock market since the election have tended to create a false impression In the public mind. The supposition has arisen that because buyers have In vaded the exchanges with wild de mands for stocks, general business has now launched a real boom. There Is a class of business men who likes the word “boom.” A boom; is a good deal like any other sort of! a spree. It is all right while it lasts But like most sprees it is usually fol- 1 lowed by headaches, depressed spirits and saddened hours. The stock mar kot Is having a boom. Most business men will tell you the stock market Is welcome to it. The business man wants, not a boom, but good, sound healthy movement in the direction of increasing sales at profitable prices—i the kind of movement that runs along slowly without violent impulses and reactions. Now that is Just exactly what business Is now experiencing. The signs of Improvement are so un mistakable that no one can gain—.-.ay them. What is going on in the stock market Is as far removed from the process at work in business as it is possible for it to be. On the exchanges people with money to Invest are buy ing stocks now. They refused to do that before the election, because of many uncertainties which they feared. Nobody bred the fear of theso uncer tainties In their minds more industri ously than the stock market itself. Now they feel secure and are hurry ing to market with their money. In the meantime general business moves along serenely and toward better days. Wheat The outstanding fact about the wheat; market is tho report of the Interna tional Institute of Agriculture, indicat ing a slender margin of wheat for world uses and at the same time a marked increase in the exports of the grain to Europe. Shipments last week were 3,000,000 bushels higher than in the same week last year. Iron and Steel Steel makers expected no rush of buying, following the election. But they did expect fivller buying and tills has developed. The market had al ready gotten under way before the election. This has strengthened since. The decline In unfilled orders of the U. S. Steel Corporation In October Is purely a campaign result and no Im portance la nttarhed to It by the steel 1 men. The production rate has gone steadily forward and will continue to] Increase. Textllee Unmistakable signs of Improvement In the textile business are noted. These grow with every day. There come re- ’ ports of arrangements being made all; over New England for the settlement I of witge disputes and the resumption 1 of activity on the basis of a ten per cent cut. Tills means a substantial reduction in production costs badly needed at a time when the raw material Is rl,lng In price and when deliveries are difficult to obtain, ex cept upon payment of premiums. Nevertheless reports from merchants shows that their stocks are low and that tlisy must enter the market in an active way. The storks in the mills are at a minimum. So that It is In evitable, with sure signs of growing buying power, that they must get hack to work. This will Improve one of the most disturbing spots in our whole industrial fabric. Automobilee Reports from automobile dealers throughout the country on prospects for ths remaining months of the year: reflect a wholesome optimism, particu larly in those sections where business has been hampered for one reason or another. No area, however, expects any strong movement forward In sales that would carry the total volume j beyond present conservative estimates. Farmers are buying more n»w carv than heretofore and may he disposed to Increase their purchases of used ears, of which there appears to be a surplus with many dealers. The last quarter of the year ss n usual thing Is slow, buyers mirkl'ig time and producers, unless planning to Increase output tn prepare for spring demand, keeping to a like pace. Extent of Arctic Ice Largest, in Memory, Says Sailing Captain BKATTRE, Wash.—How the Ice in the Arctic ocean, the worst this year that white men have ever known In the waters north of Alas ka, worked to destroy two gasoline schooners, the Arctic of Ban Fran cisco and the Rady Kinddsley, of Vancouver, B. C., was reluated by Captt. John Backland, master of the sailing schooner C. 8. Holmes, which Is wintering here. "J have been going into the Arc tic since 1907," said Captain Back land, “but never before did I find tho Ice so extensive os this year. The bergs were not so large as I have seen them, but tho pack was tremendously more extensive. “The cause of the great fields of ice along the northern Alaska coast this summer was the prevailing westerly winds. There is the same quantity of Ice in the Arctic each year, but the winds determine where i>e fields will form. With easterly or northeasterly winds, it will be fonud off the coast of Siberia." Captain Backland said the Rady Klndersley and the Arctic were lost by following leads through the ice, which closed upon them. Members of the crew of the Arctic made their way ashore to Point Harrow, Alas ka, over the frozen ocean. The men of the Rady KHidrslcy were taken aboard the steamer Boxer, of tho United Htates Bureau of Kdu cntlon, after a hard passage with canoes and skin boats over and through three miles of Ice. The cargoes of the Arctic and the Rady Klndersley were abandoned. "Where I go Into the Arctic Ice." recalled the captain, "I always watch for a way to get my vessel out. I was SO miles from Point Bar r ow while the Rady Klndersley was fast In the Ice and her tnen were trying to get away from her. I was forced to go southwest In the Ice, .away from them, to keep COFFEE MARKET NKW YORK.— Th* market for cof feo futures Saturday opened 15 to 60 points hlKher, and active month* »old 76 to 80 point* net higher, March advanced to 18.10. That delivery cloned at IS.OO, the market showing net advance h of 75 to SO point*. Kale* w*r* e*tlmat*d At 60,- 000. Closing quotation*: Jwemhrr, 18,70; .January. 18 58; Man h. 18 00; Mhv. 17.45; July, 17.00; September, IC-04. General Production The only line on general production during October thus far available ib the reports of Increasing employment from many sections. September saw a marked advance in production. Re ports to the Department of Commerce from manufacturers of f»7 commodities showed that production had increased 30 per cent over August and 20 per cent over September a year ago 'These figures relate to the production of raw materials. The production of manufactured goods complete based on returns from the makers of 64 com modities, Increased 2 per cent In September and 18 per cent over tho same month last year. Cotton con sumption was IB per cent greater In September than in August, though it was less than last year. Wool con sumption showed a gain of 17 per cent over August and 5 per cent of September last year. Railroads The railroads are making an extra ordinary record In hauling. This is doubly significant. First of all It means added business and better profits for the roads themselves. Secondly It Indicates the growth of business. This Is all the more evident from the fact that it Is shipments of merchandise and less than car load lots that has held up best The roads showed declines In shipment 9 4. January right, down to the end of September. Tn the four weeks of October, for the first, time this year, shipments were larger than In the same period last year. And In the first week of Novem ber. 35,000 mere cars of revenue freight were loaded than in the first week of Nov., 1923. Along with this has gone n sharp Improvement In not earnings. Gross earnings fell off during September, compared with September. 1923, but net earnings in* creased. This wns because of large economies in operation. The railroads are showing the way along this path, which business must travel if It wishes to establish Itself on a sound basis. Urtall Salee An reports come In on October retnll sales, a definite trend upward Increas ing volume is evident. Retailers in New York report better business, though Anal figures are not yet avail able. Two of ths large department store chains report Increases ns higli as 26 per cent In volume over August and September last year. Wholesale Trade The returns on October business are not yet In. But a real improvement is now under way. New York and Chicago nre filling up wlfh buyers. 1 The annual floor covering sale here has attracted the largest number of buyers and the -greateil. days sales In ths | history of the trade. j Prices All services report prices moving up ward. Dun reports an Increase since last June of 5.4 per cent. Nearly ail commodities nre at a higher level than they were a month ago. Money Money remains easy. The Immense drafts upon our credit have made no Impression on our supplies. New bond issues are being brought forward In amazing volume and are snapped up without an Instant's delay. Great numbers of foreign Issues ranging from one to three million dollars are being floated quietly. German municipalities nre askin’,' and getting large sums. A loan of $150,000,006 to France In In prospect. At the same time wn hear talk of refunding Allied loans to this country. Our export surplus has In creased again and it may lie we will • see tin Increase In our gold imports once more. At all events we tinvo not begun to make n dent in the resources of this nation wllh, Its tremendous gold reserve. There seems no reason to ; look for a higher monoy rate for the rest of this year. Bank deposits hsve grown. They -find now at the huge total of 310.- 750,000,000 Commercial loan* have advanped. And now we may look for a sharp rise In the volume of security credits. Failures show an Increase. But this Is alwnvs so at. this season of the year. The variations, however, are unimportant and represent nothing more than Individual Influences. ( Copyright by V. f C. Newt Brrtieg, tee.) from being caught myself.” The C. 8. Holmes landed her car go at Point Barrow before she hur ried for Bering Strait. According to reports here, only one other ves sel succeeded In delivering a cargo at Point Barrow, ths northern tip of Alaska, this year. She was the whaler Nanuk, which for a while waa believed lost. “WHAT’LL IDO?” There is » only one thing to do if you have a lot of things you'd like to sell or buy. Use the WANT ADS in The Augusta Herald —then sit still and re ceive the flock of re sults. THESE ADS NEVER FAIL READ AND TRY ’EM. Che Only Permanent Road * Hy HF.RT BAM, [National Crop Improvement Service.) IT IS disheartening to see the nasty cracks runnlns In every direction over nus recently constructed concrete roads. This can be easily pre vented by a littlo foresight by using triangle enforcement at an ex pense which would not be more than the necessary filling of cracks un der the present system. It is truo tho roads may eraek but they will nojt separate into the wldo gaps because the steel fabric reinforcement causes them to hold or resume their original position.—D. A. Merrlman, American Steel and Wire Company. DO YOU WANT Some fresh home-rslscd fruits and vegetables, chickens, butter, eggs, etc.? Then read tonight and every night, The Herald* For Sale Miscellanaou* Ads on ths Want Ad Page. _ Get in touch with the farmers in this section who have home raised, fresh produce of all kinds for sale. Do You Want to Sell Those Things In the Storeroom? i: Let our For Sale columni do the worrying about finding someone to buy all those used things. Just a few lines will clean out your storeroom and find ready cash for the things stored there now. •Phone for a solicitor—he'll tlx the ad up for you. •'First In Augusta” THE AUGUSTA HERALD Farmers Attention! Farming every day becomes more and more a question of business methods and of marketing informa tion. Co-operative buying and sell ing and keeping in touch with latest Market Information means a profit in farming—when, without such help, it may mean a loss. The Augusta Herald’s Market Page and Market Information is edited with the idea of service to the farmers of this section. Any farmer who will read carefully The Herald’s Market News and Special Farming Articles will make and save money on many an item during the year. 7 Special Low and Attractive Sub scription Rates for R. F. D. sub scribers. Fill out Coupon and mail today. *; Post Office • Augusta Herald, Augusta, Ga. Please mail me sample copy of The Augusta Herald and quote Spe cial R. F. D. Rate to mall subscribers. Signed R. F. D. • • • • • SEVEN STOCKS AND BONDS.