Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-09-07
NEWS AND GOSSIP
Of the FIeecy Staple

NEW YORK, Sept. 6.-Carpenter. Bag
got G. Co: Reports of disturbance in east
gulf with wind A miles last night and
many reports Of deterioration in eastern
belt, caused advance today heavy short
covering
Good buying by Mitchell Freeman,
Hicks and Hubbard on all declines. Ru-
NOR has it that some Of the big shorts
Gwathmey, McFadden and scattered
sold on advance
Selling by bears on the opening today
Just after the call there we're many
wires from the eastern cit reporting
great deterioration, also a report of dis
turbance in east gulf with high winds at
Waldorf crowd said to have covered a
large line.
The mills reported as good BUYERS to-
day and spot demand good
Sentiment is very mixed and opinions
as TO size Of crop vary from 100000 to
The New York and New Orleans cotton
exchanges both estimate the cotton crop
ended August 81, at 49, 100, 600 bales, or
1000 600 bales more than last year.
Mitchell, Hicks, Freeman and Hubbard
heavy buying during the early trading
started the. upward movement today.
Dallas wires: Texas and Oklahoma
ported.
Journal of Commerce says: Large spot
interests send out beartsh dispatches all
OECI liIiS country ana Europe.
Commercial says: 1t is a fight be-
tween professional operators"
Browne Drakeford & Co. Liverpool,
cable; Free offerings of actual, more
favorable weather reports.
Following are II a m. bids: October,
II:56; December, 11.50; January, 11.40;
March, 11.52
NEW ORLEANS, Sept s.-Hayward &.
Clark: The weather map shows fair in
central states, cloudy in Atlantics. partly
cloudy in Western states with cooler gen
orally. General showers in Atlantics
scattered showers in lower central states
and few showers in south Texas. Indica-
TONS are for increasing cloudiness, scat
tered showers generally; The map com
plete shows some slight depression in
gulf, but enough high pressure over cot
ton belt to prevent all danger of disturb
ances. All we get is further showers and
The New Orleans Times Democrat says:
Continued free offerings of cotton by
! Texas, the fear that Georgia will soon be
night in the dry area of the Atlantic
states and Secretary Testers report,
showing actual growth in the cotton year
1912 of is sol 900 bales affected the
market adversely A drain in values fol-
lowed as matter of course: Texas ad-
vices suggested an improving spot basis.
Cotton IN the early producing sections
of the southeast seemed to be popping
open spontaneously. Light rains in the
eastern belt should prove beneficial But
az these factors seemed insignificant When
Secretary Hester's final word on the
drop of 1912, because the figure raises
the magnitude of the standard supply
In other words, in the light of last year S
growth in the years to come crops Of a.
100000 bales will be Classed as disasters e:
| those of 14,000,000 as moderate; those of
$4,000. 900 as normal; those of $4,000 600
as full, while those of 1900, 900 bales and
more viii fall on the bumper class. There
VIII, of course, be periods of small crops,
but the South has demonstrated its abil-
ity to supply all the American grown cot
ton the mills of the world can use and,
the manufacturer, freed from the fear
| that famine supply of the raw material
might some day force his machinery into
prolonged, if not permanent, idleness,
may now be expected to reach out for
new markets with record breaking zeal.
Estimated receipts Saturday:
1912. 1911.
New Orleans. ...... 500 to 500 996
Galveston ..,..,....ts,O0O to 10000 1927