Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-09-12
NEWS AND GOSSIP
OF the Fleecy Staple

NEW YORK. Sept. lis. Tate. of Car
penter, Baggot & Co., says: THE great
NUMBER of reports by wire and letter, uni
lormly describe great deterioration from
insect damage and from excessive high
temperatures, and continued drouth ac-
SSo comp by dry, hot winds, l can not
help but feel they describe q true situa .
ton, and believe the prospective Weld of
TINS crop has been greatly reduced by
the tremendous shedding which has taken
pldSe IN almost every section of the belt
ana some parts of each state has suffered,
therefore reports from now on should
forecast very low condition report about
october l, and ! think the short side is
side.
There is no long interest to speak of,
technlcally speaking; the market being a
tWo-Slded affair, easily susceptible to buy
me crop the trade is waiting for further
c0hnrmatory information about early com
pants OF excessive deterioration. Trade
UQ9nutIions are good, as the price of man
uldCtured product more than warrants
theSe or higher values for the staple"
Inc selling on the opening by commits
sion houses and uptown crowd caused
' Some of the bears on the floor
; 1t is believed that the scattered long
interest was about eliminated this morn
ing.
Memphis and New Orleans are said to
nave been early sellers.
belt - ''ie II
Wilson. Watkins. Bashford. PearsalI
Lee, Geer and Schill best buyers today
Waldorf crowd, Riordan and Mitchell the
best sellers.
The demand now is very good, Castles
ana some of the local shorts bought early.
Al the opening Mitchell, Hicks Pear
sall ana Waters began bidding the market
Browne Drakeford &, Co. Liverpool. ca
70 iTe NrIn Fr1v
America and free offerings of actual"
Dallas wires: ''Texas-R Raining at
Amarillo past two hours; panhandle is
homa-Generally clear"
Following are II a. m. bids October
Ill, DECEMBER 1l.30, January n.22,
NEW ORLEANS, Sept. 11-Hayward .
Ozark: The weather map is very favora-
pie; generally lower; good rains in Geor-
gla; North Carolina and South Carolina,
anu some rain in northwest Texas. Cloudy
m northern half of Texas, Oklahoma and
me Auantics; generally fair elsewhere.
indications are for unsettled, rainy wealth
err IN Texas and Oklahoma and central
and eastern states
Fort Worth, Tex, wires: inspections
OF fields from Cleburne today show great
damage from leaf worm, and half of fields
being cleaned of foliage and Young forms
DeterlOrauon continues over entire state,
ana II drouth continues another week
think another revision downward in order
Looks now like $3.50, 600 bales is maxi
mum. Not considering equinoctial dis
turbances later"
The New Orleans Times Democrat SAYS:
mere Is nothing queer about the current
decline in cotton. The supply of the aC-
tual exceeds the demand, and values sink
lower as owners press spots for sale.
thus, the trade faces a condition in which
theory plays no part since at the mo-
ment, neither the ultimate supply nor the
ultimate requirement figures in the tai
ents calculations, though both must fig
ure before the season grows much older
Recently many pessimistic crop reports
nave come in the Atlantic states and from
the west and one speculative faction prof
lung by the lingering fear instilled into
the average bear by the string of ad-
Vances last spring, forced values upward
without much difficulty. But the bulish
advces on which such action was based
DO not now appear to have reflected the
true progress of the crop, as subsequent
reports seem to show that the weather
of the past two or three weeks has helped
rather than hindered the progress of the
plant 1t has followed that the with
drawal of speculative support and free of
terlngs of the actual have combined to
discourage trade buying. Exporters as
well as consumers have sold out some
begun to take place at Galveston Dis
tressed cotton afioat has gone begging for
buyer These phazes of the market
have no relation to the ultimate supply
and demand situation. but as they are
manifestations of a bearish condition at
Following are 10 a m. bids October
HI December 1925, January 11.31,
March liz As.
Estimated receipts Thursday:
Galveston .......1sooo to ISL $1,000 lob Job