Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-10
NEWS AND GOSSIP
Of the FleeCy Staple

NEW YORK, Oct 1O.-Carpenter. Bag
got & Co: NJ 5. Tate, of Carpenter,
lia6iyS informed that Theo Price has has been
short of this market and covered his cot
ton Monday and this morning between 10
and II o'clock, sent 100 cables to friends
abroad advising them TO cover shorts and
go long, as he expected big advance
in prices. My attention was called to
the fact that the bull campaign of 1903
1904 started in October, when prices did
not stop until they went up Sc a pound.
The source of this information is I'M
questionable. You can watch results and
make your own decisions"
At the opening the heavy buying was
done by Riordan, said to be for New York
interests
New York wires Pen brokers and spot
people caused the advance; offerings
small
The break in cotton this morning was
caused by. Schiil, Geer, Spencer and Wa
ters offering, January. Wilson bought
some December around 1856 McEneny
Liverpool said to be buying January and
March here through Hentz New Orleans
was reported to be buying March.
Dallas wires; Texas Panhandle
cloudy; balance clear to partly cloudy;
rain Skeedee, Usage, Purcell, Newkirk,
warm
Following are Il I'm, bids: October
L0.4O DECEMBER 1868, January TO- 60,
March 10.S so.
NEW ORLEANS, oct. 1O.-The weather
map shows cloudy over entire belt, except
fair in Oklahoma; portions of the central
belt and along the Atlantic coast; no
rain; no change in temperatures. IndCa-
tons are for rains and colder in west
Texas, Oklahoma; cloudy elsewhere fol-
lowed by colder weather tomorrow over
northwestern quarter of belt, but map to-
day does not suggest cold wave to become
as extensive. While general rains are
coming on the northwestern quarter of
the, belt and unsettled, rainy weather and
cooler IN the central states, with prOba-
bly, a rainstorm, over oklahoma.
Liverpool cables Manchester con
tinues active large business"
Our travelling man wires from Marshall,
Tex; FARMERS holding cotton in east
Texas. Little cotton offering here"
The New Orleans Times Democrat says:
Weather and war news now dominate
the cotton market. Bears say the war is
the value Of cotton. Bulls say the wealth
er Will turn cold within a few days, and
that cold snap will curtail the yield
Otherwise, supporters of the market found
very little news available to them The
low pr1ee people found plenty of actual
cotton with which to back their views.
There is some demand for the grades
above middlng. but nobody seems to
want middling and below In this con-
nection. some interesting developments
are likely in the no distant future, since
many merchants were committing them
selves to deliver the better grades at a
time when rains over a large portion of
the belt were damaging the grades
The logical result is the tender of low
grades on contracts, thereby depressing
! futures values and reducing the worth
| of the hedge held against sales of good
cotton because of need and relative search
| ty Will be apt to acquire a much higher
premium over the basis grade than has
yet obtained this season.
Following are 10 a. m. bids October
1885, DECEMBER 1888, January 1888,
Estimated receipts Friday: