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

NEW YORK. Dee. ls.-N. /. 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 It IS not likely that we win have
any serious decline
Warehouse stocks in New York today,
'O,124; certificated, 1926.
McGhee was a good seller today, which
was said to have been for Pell
- Parrott. Mitchell, Wilson. Hartcorn and
Cone We're 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 10 600 March con-
| sIacls at l2.f2; Mitchell and McFadden
bought 5000 each.
Fell q Co. issued a formal denial that
tthey were bears on the market, saying
mat they simply advise caution.
opinners were said TO have bought cot
ION freely yesterday on the breaks
Mitchell is sticking to his estimate that
the worlds taking Of American cotton
VII be about 15,Q00,000 bales.
When Liverpool spot cotton was quoted
at lid, about 10000 bales were sold,
me nrsl notice day for January con-
| tracts VIII be Monday, December 30
Cotton merchants say it is very hard to
sell nigh grade cotton at prevailing pre-
m1ums, but middle and low grades are
moving remarkably well Along Worth
street the demand for fine cotton goods
are said to be much poorer than ii is for
| cheaper fabrics. such as drills, sheetings
and print cloths
The Southern farmers and small mer-
chants usual sell their cotton freely to-
ward Christmas and this trade will at
tract interest
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. MeGhee, Geer,
Moyse, Shearson, Rothschild and Sehill
We're best sellers.
Brown, Drakeford. & Co. Liverpool,
cable: Reaction caused by reason OF
Weld selling"
1865; October, l192
NEW ORLEANS, Dec. 1S.-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 1t DIFF
ing; also Wall Street shorts. Expect
| bullish ginners."
The New Orleans Times Democrat says:
Spot markets yesterday were generally
less steam and contracts closed at the
days low level, the accumulation of stocks
in some interior sections and the contin-
ued slack demand for ocean tonnage play
| ing part in shaping professional sentf-
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 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 &C
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, Nat least some of
them, gave out a little evidence showing
a slightly easier tendency. In other words,
the reactionary tendency Of the contract
market seems predicated 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,
1888; March, 1899; May, 1898; July, 1906;
October, l1.92.
Estimated receipts for Thursday:
1912. 1911.
New Orleans. ...... $500 10 $500 II, 654
Galveston ......... 800 to "a, 500 22,5 O2