Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-08-03
NEWS AND GOSSIP
Of the Fleecy Staple

NEW YORK, Aug. 2-Carpenter, Bag
got & Co.: The government report Is
very bullish. Due to manipulation and
rary declines from time to time, but we
favor the long side, and would buy it on
all soft spots.
well eyened 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-
eldedly cooler; rains at San Angelo, Ma
eogodieSS, Troup, Lorena; light rains at
clear TO part cloudy; no rain during
night" ca
NEW ORLEANS, Aug. 2.-The weather
map shows very favorable conditions;
cloudy all over Texas and Oklahoma.
Temperatures much lower; raining now
from Abilene to Fort Worth; good rain
fan fan at Fort Worth, lighter rains in Abb
10 o'clock likely to show good rains at
several points. Some good showers in
Atlantics. Indications are for extensive
rainfall coming on Texas; cloudy showery
~Reliable weather information shows
heat spell in Texas and Oklahoma COM
pletely broken. Temperatures 10 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; 10 new
DdlSS mere To-Day.
Government shows a temperature aver
age for the state of Texas of only "a de-
grees and of 81 degrees in Oklahoma Only
SIN stations in Texas show temperature of
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 curious role yesterday
and the course of the cotton market re-
hected the near presence of climax of
some sort. 1t was the old story of con-
ndence in the scope, magnitude and ben
enclal results of privately reported rains
IN IN the West, shown by one faction, con-
melting 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 a prophet, a guess
err, a liar or an enthusiast And so 1t
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-
gests rain in the West during the drouth
season. Under such circumstances the
contract market sometimes lacks the
trained guidance of the cautious and
sklllful Spectator. Yesterdays market
was an excellent illustration of off day
doings Nevertheless tcdays develop
ments will be required to show whether
the three days reaction of "a points on
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. .........4 400 to 500 l.