Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-07-12
WEATHER OF TWO Weeks
TO DECIDE CROPS FUTURE
Trade Will Be Interested in
Situation in Arkansas,
La, Miss, and Texas
C5y Associated Press


NEW ORLEANS, July 1.-THE Times
Democrat today publishes the following
summary based ON reports of its special
correspondents concerning the cotton crop
OF 1910:
The reports indicate favorable progress
in the states Of oklahoma and Texas and
distinct deterioration throughout the re-
mainder. OF the belt.
In the west the fields as a rule are
clean and we'll worked. A general rain
would prove beneficial. 1855
East of the Mississippi river and in
the states of Louisiana and Arkansas
continuous and excessive rainfall has
multiplied the farmers .difhculties, result
ing I'm deterioration over large areas, and
greatly increasing the importance of sea-
sonable weather henceforth and of late
frost. ..,' a
There has been some abandonment Of
cotton acreage, but insect activity ap-
pears 10 have been largely confined TO
previously Infested districts"
Indications are that the cotton trade
this week viii be more interested in the
new crop situation in Arkansas, Louis
lana and Mississippi than any other fea-
tCre of the market. Reports from those
three states will have much to do with
the course of prices. unless something
very strong develops in the old crop posi-
items.
Last week. closed with a good portion
of the trade convinced that the cotton
crop was about to pass through a most
critical period and the majority were
willing to admit that the weather OF
the next fortnight would have much to
do with the size OF the total yield this
season.
WILL WATCH TEXAS.
Next to the states mentioned, Texas
will be watched with interest, for there
is still hopes of a moderately large
crop IL Texas has a good yield. OFF,
cial advices from the state Of Texas
during the week just ended caused some
people to believe that conditions in that
state were not quite so bad as the bulls
have been painting them.
If this week sees further crop deteriora-
ton. investment buying on an increased
scale may be expected, even though the
leading professional interest don't take
any decided stand on the new crop, 1t
has come to be the contention among q
certain class of traders that Is cents for
October is a more legitimate price than
is Is cents for July. This buying will
be of very strong character, Just as ii
was exactly q year ago at this time when
outside investors entered the market and
bought cotton that they held for rise
OF nearly 4 cents pound. So.
In connection with the old crop, the
market will be eager to get at the truth
of the mill situation.
CLOSING OF MILLS
Last week the market was flooded early
and late with the reports OF mills
closing down and those reports had q
bearish effect on prices. When the week
ly statistics were published, however, it
was found that mills had taken as mucn
cotton as they took the same week two
years ago and within 10000 bales as much
as they took the same week last year.
The showing that mill takings made in
the face of all the curtailment talk that
went the rounds will cause traders this
week TO look askance at further claims IF
curtailment this week. Positive proof Of
the curtailment, as shown In mill taxi
ings will have to be exhibited before this
sort Of talk will affect prices again to
any decided extent. This has undoubtedly
deprived the bears of a valued weapon.
The Liverpool spot market the re-
turns from the Manchester cloth and
yard market and last, but not least, the
daily quotations on silver in London will
have more than their usual prominence
this week. This is due to the strong
showing made Saturday by spots in Llv-
erpool and silver in London.