Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-12-18
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW YORK, Dec. IN. l. Carpenter
& Co; There was heavy selling at times
today which was attributed to Wall Street
and uptown interests. The leading spot
houses have been buyers, Spots in good
demand at high basis As long as this
exists II s not likely that we will have
any serious decline.
Warehouse stocks in New York today
I ~, ga certiticated, So, 226
McGhee was good seller today. which
was said to have been for Pell
Parrott Mitchell, Wilson, Hartcorn and
cone were principal buyers today. Shear
son and McElroy sellers.
Very little cotton was for sale during
the forenoon trading.
McFadden, Mitchell and Weld brokers
We're the leading buyers at noon. Moyse
was said to have sold 10000 March con
tracts al 1919; Mitchell and NcFadden
| bought 5000 each.
| they were bears on the market saying
that they simply advise caution
Splnners We're said to have bought cot
ton freely yesterday on the breaks.
Mitchell is sticking to his estimate that
the worlds taking of American cotton
VIII be about 100000 bales.
When Liverpool spot cotton was quoted
at 71Sd, about 10, 900 bales were sold
The first notice day for January con-
tracts will be Monday, December 80.
Cotton merchants say it is very hard to
sell high grade cotton at prevailing pre-
NUNS, but middle and low grades are
moving remarkably we'll Along Worth
street The demand for fine cotton goods
are SAID to be much poorer than it is for
( cheaper fabrics, such as drills, sheetngs
and print cloths.
The Southern farmers and small mer-
| chants usual sell their cotton freely to-
ward Christmas and this trade win at
tractsinterest
1t is believed that big spot houses stand
| long about 100000 bales of contract cot
ton by the way they have supported the
! market during the past few days.
About the best argument the bears can
say is that 13-Cent cotton Is too steep.
Norden, Hicks, Hentz. Wilson, McFad-
den, Clifford, Mohr and Hubbard were the
leading buyers today McGhee, Geer,
Moyse, Shearson, Rothschild and Schill
Brown, Drakeford & Co. Liverpool,
cable: Reaction caused by reason of
selling orders from the continent and
Following are II a. m bids: January,
1856; March, 12.74: May, 1915; July,
126S October, 11.92
NEW ORLEANS. Dec. Hayward &
Clark: The weather map shows fair in
! the western half of the belt; no rain;
cloudy in eastern half rather general; but
light precipitation over night, except some
| heavy rains in Tennessee mountains. In
dications are for fair and colder weather,
except in the Carolinas. where 1t is
cloudy with showers
New York wires received here: Good
buying by strong interests. Think it diff
ficult to force it lower. Good trade buy
ing; also Wall Street shorts Expect
buHlSu EilUeIS.
The New orleans Times Democrat says
! Spot markets yesterday were generally
less steam and contracts closed at the
days low level, the aCCumula ton of stocks
in some interior sections and the contin-
ued slack demand for ocean tonnage play
| ing a part in shaping professional senti-
ment. The bear talent is coming to rely
on smallness Of bookings to affect the
market adversely, and at the moment at
least collateral developments are encour-
aging their Views. In a letter to shippers
a Galveston ship agent says: Get re-
fuSalS; the loading position of the steam
er you need can not always be found, es
pecially so because ship agents. on ac-
count of the lack of bookings, are not
Chartering steamers ahead or agreeing to
guarantee or promise owners cargOes in
order to get liners on the berth"
Yesterday spot men in Oklahoma re-
ported actual cotton accommodating, with
no shipping instructions attached, and
| Southern spot markets, at least some of
them. gave out little evidence showing
a slightly easier tendency. In other words,
the reactonary tendency of the contract
market seems predcated on current drift
of something other than mere sentiment;
however such drift has not yet acquired
potential force.
Following are 10 a. m. bids: January,
12S8; March, 1922; May, 1898; July, 1906;
October, 11.92.
Estimated receipts for Thursday: .
New orleans. $500 to to- $500 1854
Galveston 500 to 24,500 22,502