Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-26
NEWS AND GOSSIP
Of the F'ieeCy Staple

NEW 1ORh, Oct. z0.-CaFpenter, BAG
got & Co.-Mr. $. Tate says: "Notwith-
standing the early opening and reports of
nearnesS of completion of the ginning on
account Of premature opening, the ginning
is 100000 less than last year. 1t is only
conservative to assume that if reports
that from SO to 20 per cent OF crop in
many sections of Texas has been picked
and ginned and from so to 70 per cent in
large parts of Alabama, Georgia and
South Carolina, that the percentage of the
crop ginned is probably as much as SO per
cent, which would indicate a crop of H.
800, 600. If 81 per cent giflned indicates a
yield of IL, $50 600. If only 80 per cent in
dicates yield of 13,676,000 The figures are
less than expected and we regard them
as bullish If there is any reliance to be
placed in our private reports. The pres
sure Of the early heavy movement and
distress cotton should be about over and
on any setback the market ought to be
good purchase"
Schill, Riordan and Virgins were good
buyers today, which was said to have
been for Pell
The market is short and local specula-
tors are against it, but the heavy buying
will likely carry prices to a much higher
level.
Spot houses was among the most ag-
gressive traders today
}. S. Taylor, president of the National
Ginners association, telegraphs from
Memphis this morning as follows: Gin
ners estimate 4S per cent ginned, com
pared with 81 last year. Lint held 81 40
crop"
Dallas wires: Texas generally part
cloudy and warmer. Oklahoma generally
Messrs. Browne, Drakeford & Co. Liv-
erpool. cable us: The market has de-
clined in consequence Of free offerings of
Following are II a. M bids: December,
l0.73; January, 1875; March, 1922: May,
10. &c.
NEW ORLEANS, Oct. 25.-Hayward &,
Clark: The weather map was better than
looked for; fair in northwestern quarter
and Atlantics; cloudy elsewhere; heavy
frost in Tennessee mountains; light frost
scattered over Alabama, Tennessee and
western part of Caroinas. No rain. In
dications are for part cloudy to fair; rath-
er warmer in central and eastern states;
cold wave formation in far Northwest,
but has not made any progress; will
hardly appear in belt now before next
Monday.
Greenvine, S. c., wires: Carolina
eastern mills, exporters and cotton houses,
all buying spots. While cotton is selling
at II cents off the wagons, refusing big
orders daily for forward deliveries at
basis much above last year Probably
heavy frost tonight, but will do little dam
age, as excepting few late fields"
a prominent spot house at Fort Worth,
Texas, wires following: Our estimate of
Texas 100000 oklahoma, 1850 900.
ceptlon of south and central. Receipts
running fairly good. Demand for high
grades caused by desire stocking up owing
to reports that crop is very low in other
states Farmers inclined to hold, Offer
ings small.
J. A. Kennedy, our travelling represen-
tative in Texas writes from Cleburne,
Houston to Fort ' worth over the Santa Fe
road, | am surprised to find not a single
field Of ungathered cotton. From Houston
to Temple, everything picked and gins
closed down From Temple north about
IL per cent of the crop is gathered and
will soon be all picked out, as labor is
now plentiful. I think 80 per cent of cen
trail and north. Texas crop will be picked
by November /, and the October ginners'
report, while showing heavy, the Novem-
Der report will prove equally disappoint-
ing the other way
says: The condition of cotton now favors
the bull, while the theory favors the bear.
Just the reverse was true very short
while ago when the low price man OBJ
tanned results based on easier spot mar
kets, lower spot basis, lack of demand
and pessimistic price sentiment generally,
leaving the bull to depend on a moderate
yield and an immcderate requirement,
both of which depended on bullish the
Dry. which might or might not prove cor
rect.
Recently better demand for the actual
developed, the premium on good grades
revealed unmistakable signs of climbing
the scare caused by the war Simmered
down, and actual frost invaded the belt
from east TO west across the northern tier
Of cotton producing counties. With the
return Of bullish hope has, of course
come a revival of bullish enterprise and
for this reason more is now heard about
the raw cotton price increasing effect OF
the deprecated gold dollar, the business
boosting effect of high price silver the To-
Called influence on trade of the Balkan
war. and the support creating capacity oil
high basis for good grade cotton than
in many weeks.
Following are 10 a. m. bids: December
1898; January 1896 March, 11.07; May
11.22.
Estimated receipts Saturday:
1912. 1911
New Orleans. ...... $500 to $500 10 20'
Galveston ....,.....21 900 to %, 500 q ,43S
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HAYWARD s. CLARkrs
nAILY COTTON ETTE q