Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-09-12
NEWS AND GOSSIP
Of tie FIeeCy Staple

NEW YORK, Sept lis. Tate. of Car
penter, jBaggot & Co, says: THE great
number Of reports by wire and letter, uni
iofmly describe great deterioration from
insect damage and from excessive high
temperatures, and continued drouth ac-
otuPdIled by dry, hot winds, | can not
.slp oul feel they describe a true situa-
,tioiI' ana DeHeVe the prospective Yield of
inns crop has been greatly reduced by
tIe tremendous shedding which has ia ken
place IN almost every section of the belt
ana some parts of each state has suffered
therefore reports from now on shouId
itItcdSt a very low condition report about
october !, and l think the short side is
aanserous and would work on the long
There is no long interest to speak of.
tethhlcally speaking, the market being a
tW"-Slded affair, easily susceptible to buy
ms put on account of the lateneSs of
the crop the trade is waiting for further
c9HhrmatorN information about early com
PIdiHtS OF excessive deterioration. Trade
conditions are good. as the price of man
utactured product more than warrants
theSe or higher values for the staple"
ne SelIlnB on the opening by commits
Sou houses and uptown crowd caused
MeahneSs Some of the bears on the floor
were best buyers
It is believed that the scattered long
interest was about eliminated This morn
Memphis and New Orleans are said 10
nave been early sellers
some ram was reported in the eastern
Wilson. Watkins. Bashford. Pearsall.
Lee: Geer and Schil best buyers today.
Waldorf crowd. Riordan and Mitchell the
best sellers.
The demand now is very good. Castles
ana some of the local shorts bought early
Al the opening Mitchell, Hicks. Pear
san ana Waters began bidding the market
Browne. Drakeford & Co, Liverpool ca
Dlt' Decline due to selling orders from
AT naIiea and free Offerings of actual"
Amarillo, past two hours; panhandle is
cloudy; balance generally clear Okla
ma-Generally clear"
FolloWlng are IL d. m. bids: October
Ill DECEMBER 1130, January 1122,
NEW ORLEANS, Sept 11-Hayward g.
Ozark; The weather map is very favora-
pe' generally lower good rains In Geor-
gla; North Carolina and South Carolina
anu some rain in northwest Texas Cloudy
IN northern half of Texas, Oklahoma and
me Auantics; generally fair elsewhere.
Indicate are for unsettled, rainy wealth
er IN Texas and Oklahoma and central
and eastern states.
Fort Worth. Tex. wires: "InSpections
OF fields from Cleburne today show great
damage from leaf worm, and half of fields
beng cleaned of foliage and young forms
Incorporation continues over entire state,
ana II drouth continues another week
think another revision downward in order
Looks now like 1850 900 bales is maxi
mum. Not considering equinoctial dis
turbanCeS later"
The New Orleans Times Democrat saws.
mere IS nothing queer about the current
decline in cotton. The supply of the ac-
tual exceeds the demand, and values sink
lower as owners press spots for sale.
nus, the trade faces a condition in which
JheorN plays no part since, at the mo-
ment neither the ultimate supply nor the
ultimate requirement figures in the tai
ent S calculations. though both must fig
ure before the season grows much older.
recently many pessimistic crop reports
nave come in the Atlantic states and from
the west and one speculative faction. prof
ltlng by the lingering fear ipstiled into
the average bear by the string of ad-
Vauces last spring, forced values upward
without much difficulty. But the bullish
adVices on which such action was based
do not now appear to have reflected the
true progress of the crop, as subsequent
reports seem to show that the weather
or the past two or three weeks has helped
rather than hindered the progress of the
plant. 1t has followed that the with
ierlngS of the actual have combined to
discourage trade buying. Exporters as
well as consumers have sold out some
long contracts in October Congestion has
I begun to take place a. Galveston Dis
| tressed cotton atioat has gone begging foI
a buyer, These phazes of the market
nave no relation TO the ultimate supply
and demand situation, but as they are
manifestations Of a bearish condition at
present they can NOT be ignored
Following are 10 a. IN. bids: October
III, December 1l2G, January 1L31,
March 1l.45.
Estimated receipts THURSDAY; .
Galveston ........16, 600 to $4,000 1903