Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-23
NEWS AND GOSSIP
Of tie FIeeCy Staple

NEW YORK, Oct. 22.--Carpenter. Bag
got x Co: Mr.. 5. Tate says: Il think
there is general disposition 10 overesti-
mate the crop in the western part of the
oeI,, pa, paartcularly Texas and Arkansas on
account OF very heavy movement but the
early maturing of this late crop and the
iacl that cotton opened so general all at
once IN central southern and south
western Texas, southern part Of the gulf
states. has made ginning heavy and the
movement large, ! think this gnners
report on October 20, showing amount
glnned up TO the 18th will be from 80 to
- per cent of the crop. The average
percentage of amount gnned up to Octo-
cent.
This is since the extensive farming
mas been more In vogue, and since the
planters have resorted to putting in an
early maturing kind of cotton in order to
nght the boil weevil, which is most de-
structive late in the season.
we may have some lower prices but
situation is growing more bulhsh. Good
grades are oversold and the New York flu
ture market is by tar too cheap.
am strong advocate of the long side
ouElihg cotton conservatively around 10
~ l034c with idea of buying more in case
1t goes down below these values.
Inc ring crowd covered today with large
spot brokers good buyers during the entire
Gay The market was bought on unset
tied colder weather with probable light
/ frost in north Mississippi.
Helnekein and Nolesgesang cable: NELL
expected Thursday with l494 minimum;
soon. owing to the Balkan trouble stop
ping deliveries I"
Thompson, Towle G. Co sold about 25,-
goo bales on the decline, which was bought
by Schil. Mitchell, Royce, Hicks and ring
generally.
McFadden Geer and others who were
early buyers today sold market off at
noon which was said to be on bearish
cables and Cordius report on Texas, also
National Ginners.
Beer. Cowell & Co, Liverpool, cable:
india expects larger crop this year.
The best buying today seemed to come
from PARROT, Mitchell, Wilson, Schill and
RIoraan. The selling came mostly from
Schiil; Watkins, Royce and Martin.
west, cloudy, cooler: balance generally
clear; 46 degrees at Dallas, 2S at Amarillo,
50 at Hlllsboro and Sherman: no frost re-
Perry.
Following are IL a. IN. bids October
~ 80. December 1854, January 1855,
NEW ORLEANS, Oct. 22.-Hayward 6
! Clark: The weather map shows fair in
Texas, and cloudy with general rains in
central and eastern states which are un-
favorable and will delay picking Of cot
ton and damage the grade Indications
are for clearing and colder il the north
central belt with rising temperatures In
the northwestern quarters; continued
rainy weather in Alabama and the At
lantic states.
The map showed the severest cold wave
| formation Of the season in the northwest
and looks like the cold wave will start to
move on the belt about Friday
Liverpool cables Manchester reports
poor business today"
The National Ginners' estimates the to-
| tai ginned bales at 100000 and gives
Texas an. estimate of 5000 600 bales,
Texas heavy frost reported over entire
Panhandle.
The New Orleans Times Democrat says:
Various men explain the steadiness of the
the future contract market In various
ways, but unbiased analysis seem to in
dictate that a further good cleaning out is
due before the hope and the expectation
of the bears can be realized AS a mat
ter Of fact most everybody is bearish,
shorts are far more in evidence than
longs and a majority of both talent and
trade Is looking for a dip to 10c
Under the circumstances bearishly dis
| posed operators are delaying, II not de-
feating. their own end by the magnitude
of their numbers. Meanwhile, reported
| frost scares, record breaking spinners'
! takings. favorable reports from Manches-
| ter and evidence tending to show that the
| continental mills are better engaged than
! some of the trade has been led to believe,
! have contributed support in the face of
| an enormous movement. a very large sup
| ply and a disposition among spot markets
| to sink lower and lower.