Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-12-11
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW YORK, Dec. In l.. Carpenter
4 Co.: The action of the market on open
ing showed there was an overnight local
snort interest.
Tomorrow is a great day for cotton
traders. The government final crop esti-
mate Will be made public
very little was doing in the market to-
day; traders decided to hold off until after
bureau day
Spot buyers who have recently re-
turned from trip over Texas say they
ilmu most OF the cotton very good in
grades; also Oklahoma cotton was good
IN grades, but in Memphis they meet
SSpnieWhat poorer grades, but still better
thah mat offered last year.
Cotton Is being held in Texas at 40
points above Liverpool basis and holders
are inclined to sell.
The ginnings from November IA to De-
Gemoer |, Of 1,55S,o01 broke all previous
records for the period.
waiter II. Moler says that IS per cent
Oh the crop Is ginned and that making a
total of 14,So0,0O0 bales, including linters
Georgia is beginning to surprise every
one as to the size of its output this sea-
SON II can no longer be estimated at
I,oo0,0O0 bales, which has been the pre-
9elcuon OF many estimaters from the in
ltlal OF the season. Its ginnings to De-
cember l, were 1,563,443 bales
Whle trading was not of large char
acter today offerings were rapidly alb
terests.
Mitchell, Gwathmey, schill and Riordan
were the leading buyers today. Very lit
tie cotton was for sale
Inc ring crowd covered shorts TODAY
Russell Wilson. Hartcorn, Shantz, Hub
bard and Schill were leading sellers dur
ing the forenoon trading
me average guess of 1871 members of
me New York cotton exchange for the
crop was 1880, 0C0 bales.
Dallas wires as follows Texas gem
orally cloudy and cold; raining in south
ern and eastern portions; 20 above at
Amarillo. Oklahoma generally fair and
cold"
Following are II a, M bids: December,
l I55'ea; January, 1856; March, 1857; May,
NEW ORLEANS, Dec. 11.-Hayward &
Clark: The weather map shows cloudy
IN the entire belt, general rainfall in Okla
homa and Arkansas, further rains in the
southern half of the belt and Atlantics
Galveston section, disturbance off Texas
coast; VIII move eastward and cause
orlsk to high northerly winds this after
noon and tonight; much colder small
craft warned on Louisiana coast and bal
ance of Texas coast
The New Orleans Times Democrat
says: In the effort to discount the gov
ernments cotton crop estimate due to-
morrow afternoon, the talent is confront
ed by an uncommon condition of affairs
Inc second largest crop is promised, the
largest consumption on record is prom
Used and now almost seems assured Last
years consumption was as large as this
year crop, and is likely to prove 1t, and
~ tnlS year consumption Is TO exceed
that of last year the prospect is for a re-
ductlon in the amount of American grown
cotton in the world on August 81, 1913,
as compared with August 81, 1922 It is
thlS prospect that constitutes the bullish
basis on which the cotton market has
| been working. But in this connection 1t
should not be forgotten that one year ago
March contracts sold at 1888 in New Or
leans, or practically 400 points under the
high price of March yesterday. These
9VO points discount a very much clearer
! professional vision of cotton market in
| fuences, as well as the independence OF
an emancipated farmer, but they do not
discount sustained excess of consumption
| over production.
Last years heavy yield literally saved
| spinners from the cumulative evils of a
| series of years of under production of the
| raw material. But the very bountifulneSs
| of the soil, which came TO the rescue OF
! the spinner, has also encouraged the
| spinner to expand his trade and need
actual consumption in 1878 of, say If
| teen million bales, which is the reason
| why the talent, in squaring up their ac-
| counts on the eve of the government croI
estimate by more contracts than they sell
| even in the face of a wonderful advance
during the past few weeks The esti-
| mate, which will not include linters, will
/ be flashed to New Orleans at 1 O'Clock
! tomorrow. The figure, it is expected, will
| fall below fourteen million. The talent
as rule is looking for commercial crop
of $4,000, 600 bales.
! Following are 10 a. IN. bids: December
1S.9S; January L7S; March, 1882; May,
Estimated receipts for Thursday:
1912. 1911
New Orleans. ...1I 500 to IL, 500 11,447
Galveston .27O00 to $4,000 L., 42s