Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-08-03
NEWS AND GOSSIP
Of the FIeecy Staple

NEW YORK. Aug. 2.-Carpenter, Bag
gol a. Co: The government report is
very bullish. Due to manipulation and
local ring selling you may see tempo
rary declines from time to time, but we
IaVor the long side, and would buy it on
Il is believed the market has been pretty
Wen eyened up and there viii not be
ihqch change until the report
BfoWne, Drakeford & Co, Liverpool,
cable; Little offering; trade calling"
Dallas wires: Texas, south and west
clear, balance part cloudy to cloudy, de-
cldedly cooler; rains at San Angelo, Ma
Gpgodless, Troup, LOrena; light rains at
Paris, Henrietta, Eastland. Oklahoma,
clear clear 70 part cloudy; no rain during
NEW ORLEANS, Aug. 2.-The weather
map shows very favorable conditions;
cloudy all over Texas and Oklahoma.
Temperatures much lower raining now
from Abilene to Fort Worth; good rain
ran att Fort Worth; lighter rains in Abb
lene and Taylor. Government records at
IL o'clock likely to show good rains at
several points. Some good showers in
Atantics. Indications are for extensive
rainfall coming on Texas cloudy, showery
weather in rest of belt.
Reliable weather information shows
neat spell in Texas and Oklahoma com
pIetely broken. Temperatures Is degrees
lower Ample rainfall. Government rec
ords at /, 10 - o'clock will show good rains.
ening; rain expected any moment; Is new
bales here today"
Government shows temperature aver
age Tor the state of Texas of only "a de-
grees and of "a degrees in Oklahoma Only
SIX stations in Texas show temperature of
100 or above, against 2S stations the day
before.
Galveston wires: First bales are being
received in central Texas earlier than last
year, Brentwood seven days earlier
LOOK Tor heavy August movement
New Orleans Times Democrat says:
opinion played a curious role yesterday
ana me course of the cotton market re-
Hected the near presence of a climax of
some sort 1t was the old story of con
Hqence IN the scope, magnitude and ben
efclal results of privately reported rains
IN the West, shown by one faction con
hlctlng with the close adherence by the
other faction to the official reports of
comparatively little rain in the West
The trouble here lies in the fact that the
government data are made up at o'clock
IN the morning, while the brokerage house
correspondents have free access to the
wires all day long On rainfall the gov
eminent plays the part of historian while
the individual may be prophet, a guess
err, llar or an enthusiast And so it
follows that on Texas precipitation, one
school of speculation depends squarely
on the belated but accurate official rec
ords, while the other school, the wish of
ten beng father to the thought, accepts
without question any message that sug-
gests rain in the West during the drouth
season. Under such circumstances the
contract market sometimes lacks the
trained guidance of the cautious and
Sklllful Spectator. Yesterdays market
was an excellent illustration of off day
dolngs. Nevertheless today's develop
ments Will be required to show whether
the three days reaction of GA points on
New Orleans October was justified by
better crop weather, or whether the play
Of the IeactionarY has been merely a crude
way Of temporarily breaking values.
Estimated receipts Saturday:
1912. 1911
New Orleans. ............4O 400 to 500 z