Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-12-11
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW YORK, Dec lin L. Carpenter
y Co.; The action of the market on open
lls showed there was an overnight local
short interest.
Tomorrow is great day for cotton
, traders. The government final crop esti-
mate will be made public.
very little was doing in the market to-
! bureau day.
Spot buyers who have recently re-
turned from trip over Texas say they
ma !, mos, most of the cotton very good in
grades also Oklahoma cotton was good
IN grades but in Memphis they meet
somewhat t poorer grades, but still better
than that offered last year
Cotton is being held in Texas at 40
points above Liverpool basis and holders
are inclined to sell.
The ginnings from November IA to De-
records for the period.
Walter II. Moler says that So per cent
OF me erop lS ginned and that making a
total OF IA, 800, 600 bales, including linters
Georgia is beginning to surprise every
one as TO the size of its output this sea-
SON eao od ~ can no longer be. estimated at
diction of many estimaters from the in
ltlal OF the season. Its ginnngs to De-
cember l, were 1,56S.443 bales.
Whlle trading was not of large char
acter today offerings were rapidly alb
| terestS
Mitchell Gwathmey, schill and Riordan
/
| tie cotton was for sale.
| The ring crowd covered shorts today.
RUSSELL, Wilson, Hartcorn, Shantz, Hub
| bard and Schill were leading sellers dur
ing the forenoon trading
| the average guess of 1871 members Of
me New York cotton exchange for the
| crop was 13,S50,000 bales.
| Dallas wires as follows: Texas gen
| orally cloudy and cold; raining in south
ern and eastern portions; 20 above at
J Amarlllo. Oklahoma generally fair and
I cold ~
Following are II a. m. bids: December,
45.fa; January, l2.56; March, 1857; May,
! NEW ORLEANS, Dec. 11.-Hayward 81
clark; The weather map shows cloudy
in the entire belt, general rainfall in Okla
bona and Arkansas further rains in the
| southern half of the belt and Atlantcs.
Galveston section. disturbance off Texas
coast; viii move eastward and cause
brisk to high northerly winds this after
craft warned on Louisiana coast and bal
ance of Texas coast
The New Orleans Times Democrat
says; In the effort to discount the gov
ernment's cotton crop estimate due to-
I morrow afternoon the talent is confront
ed Dy an uncommon condition of affairs.
| Inc second largest crop is promised, the
| largest consumption on record Is prom
| Used and now almost seems assured Last
year $ consumption was as large as this
years crop, and is likely to prove it, and
! If this years consumption Is to exceed
| that of last year the prospect is for a re-
duetion in the amount of American grown
| cotton in the world on August 81, 1913,
! as compared with August 81, 1912 1t Is
| this prospect that constitutes the bullish
| basis on which the cotton market has
| been working. But in this connection it
| should not be forgotten that one year ago
| March contracts sold at 1888 in New Or
| leans, or practically 400 points under the
high price of March yesterday. These
| 400 points discount a very much clearer
! professional vision of cotton market in
| fuences, as well as the independence OF
| an emancipated farmer but they do not
discount sustained excess of consumption
! over production.
Last years heavy yield literally saved
| spinners from the cumulative evils of a
| series of years of under production of the
raw material. But the very bountifulness
| OF the soil, which came to the rescue of
| the spinner, has also encouraged the
spinner to expand his trade and need
Thus we are confronted by a prospect OF
actual consumption in 1928 of, say If
teen million bales, which is the reason
why the talent, in squaring up their ac-
counts on the eve of the government croI
even in the face of wonderful advance
during the past few weeks. The esti-
mate, which viii not include linters, will
be flashed to New Orleans at l O'Clock
tomorrow. The figure, it is expected, viii
fall below fourteen million. The talent
as rule is looking for a commercial crop
of 14,500,000 bales.
Following are 10 a. m. bids: December
| 12S8; July, 1895
Estimated receipts for Thursday:
New Orleans. 500 to $500 l.44I
Galveston .........27, goo TO $4,000 l3,42s