Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-12-11
HOLD FOR HIGHER PRICES.

Thave written a series OF articles recent
" bearing largely upon the strained reia-
lions between the members or the New
York Cotton exchange and the United
states department OF agriculture. and up
on the value OF the departments report 70
the cotton producers Of the south The re-
cent conservative report OF the estimated
Weld OF cotton for the year $50. issued
bv the deuartment on December %, voices
the general sentiment OF trade, and IS
fairly satisfactory 20 dealers, except those
OF the extreme bear element, who con-
tinue TO maintain that the crop viii go
70 II 10000 bales. The small receipts OF
cotton which are now coming TO the ports,
counted interior points, are very alarming
70 the bears" who are using every means
NJ their command TO convince the cotton
consuming world that the u.ooo.oO and
over estimates are correct They also
want 70 convince the public, and especial
" those cotton growers who have yet
some spot cotton held back for higher
prices. that all news OF "bullish' ten
dency Is unreliable and not TO be credited
BY the trade. Every EFFORT viii continue
70 be made by that class OF spectators
70 throw discredit upon the government
report by asserting that the bureau report
was 10000 bales short last year and viii
be about the same this year. We have,
however, shown IN the last article on this
subject, that from facts and figures re-
sulting from q thoroughly exhaustive in
vestication OF the situation, that the bu-
reau estimate Of last year did not really
miss the actual crop grown by more than
I1soo0 bales. In other words the estimate
OF the government bureau was only 49,
co bales short OF The actual crop grown
and gathered last year.
A Bullish Report.
While the bureau report OF the Sd in
slant estimated a yield OF 100000 bales
Tor the present crop, and went beyond
nv maximum estimate 1000 bales. IL is
nevertheless a publish" report in that the
spinners OF the world viii require much
more cotton than that amount 10 meet the
demands OF consumption within the next
ten months The dealers in the exchanges
realized that the bureau report would be
OF q publish" tendency and therefore dis
counted It in advance. hence the market
was not visfbIy affected either one way or
the other when the report was made
known TO the public. To show that the
movement OF the crop IS now beginning
10 slacken up. the following market letter
IS interesting.
New Orleans amount brought into sight
for week Just ended. November =. is ST.
90. against 4Z7.ss5 last year and f05. $50 the
YEAR before. The above amount Is regard
ed bullish BY the trade. The Liverpool
stock OF cotton Is much smaller than al
this time last year. Interior stocks In ex-
cess OF September 1st. 4So1o9. against 49,
sSl last year. The last named items would
Indicate that the consumers OF the world
are Of the opinion that we will have cot
ton enough TO go round. Brought into
sight since September ist 4s99.507, against
4T0i.si3 last year. This would indicate
that the present crop is somewhat larger
than last year"
The movement OF the crop since Septem-
Der LIST has been unprecedented. as all
farmers know. and could not be rightly
used as . comparative basis OF the aver
age movement OF crops in past years. II
must be potent TO all producers that more
than ha1f Of the crop grown this year has
been marketed Up TO December 1st the
amount brought into sight and marketed