Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-08-02
NEWS AND GOSSIP
Of the FIeecy Staple

NEW YORK, Aug. 2.-Carpenter. Bag
got & 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
favor the long side, and would buy it on
all soft spots.
1t is believed the market has been pretty
well evened up and there will not be
much change until the report.
Browne, Drakeford & Co, Liverpool,
cable; Little offering; trade calling"
Dallas wires: Texas. south and west,
clear, balance part cloudy to cloudy, de-
cidedly cooler; rains at San Angelo. Ma
cGogodless Troup, Lorena; light rains at
clear to part cloudy; no rain during
night"
NEW ORLEANS, Aug 2.-The weather
map shows very favorable conditions;
Temperatures much lower; raining now
from Abilene to Fort Worth; good rain
faIl at Fort Worth lighter rains in Abb
lene and Taylor. Government records at
10 o'clock likely to show good rains at
several points. Some good showers in
Auantics. Indications are for extensive
rainfall coming on Texas; cloudy, showery
weather in rest of belt.
Reliable weather information shows
heat spell in Texas and Oklahoma com
pletely broken Temperatures is degrees
lower Ample rainfall. Government rec
ords at 10 O'Clock will show good rains.
Austin. Texas, wires; weather threat
ening; rain expected any moment; Is new
bales here today"
Government shows a temperature aver
age for the state of Texas of only "a de-
grees and of "a degrees in Oklahoma Only
six stations in Texas show temperature OF
LOO or above, against % stations the day
before.
Galveston wires: First bales are being
received in central Texas earlier than last
year. Brownwood seven days earlier
Look for heavy August movement"
New Orleans Times Democrat says.
Opinion played a curious role yesterday
and the course of the cotton market re-
Elected the near presence OF a climax OF
some sort 1t was the old story of con-
fidence in the scope, magnitude and ben
eficial results of privately reported rains
in the West, shown 10y one faction, con-
fiicting 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 guess
er, a liar or an enthusiast. And so II
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 being father to the thought, accepts
without question any message that sug-
season. Under such circumstances the
contract market sometimes lacks the
: trained guidance of the cautious and
skillful Spectator. Yesterdays market
was an excellent illustration of off day
doings. Nevertheless today's develop
ments will be required to show, whether
the three days reaction of Ga points or
New Orleans October was justified by
better crop weather, or whether the play
of the reactionary has been merely a crude
way of temporarily breaking values,
| Estimated receipts Saturday;
1912 1911
New Orleans. ........... 400 to 500 Il