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

NEW YORK, Dec. In l.. Carpenter
q 60: The action of the market on open
ing showed there was an overnight local
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-
DAY; traders decided to hold off until after
bureau day
Spot buyers who have recently re-
surned from a trip over Texas say they
una most OF the cotton very good in
grades; also Oklahoma cotton was good
IN grades but in Memphis they meet
somewhat poorer grades, but still better
imam that offered last year.
Cotton is being held in Texas at 10
points above Liverpool basis and holders
are inclined to sell.
The gfnningS from November IA to De-
cember l. of 1,553, DOL broke ali previous
records for the period
waiter ri. Moler says that 50 per cent
OF the crop Is ginned and that making a
total OF 1880 600 bales. including linters.
georgia IS beginning to surprise every
| one as to the size of its output this sea-
SEN SEN II can no longer be estimated at
l,o00, 1000 bales, which has been the pre-
diction. OF many estimaters from the in
| ltlal of the season. Its ginninRs to De-
cember We're 1,56S,443 bales.
Nhlle trading was not of a large char
acter today offerings were rapidly alb
terests.
Mitchell, Gwathmey schill and Riordan
tie cotton was for sale
Inc 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 1855, 600 bales.
Dallas wires as follows. Texas gen
orally cloudy and cold; raining in south
ern and eastern portions; 20 above at
Amarillo Oklahoma generally fair and
Following are II a. m, bids: December,
49,; January, 12.56; March, 1887; May,
NEW ORLEANS, Dec. 11.-Hayward &
Clark: The weather map shows cloudy
in the entire belt, general rainfall in Okla
homa and Arkansas, further rains in the
southern half of the belt and Atlantics.
! Galveston section, disturbance off Texas
coast; VIII move eastward and cause
brisk to high northerly winds this after
noon and tonight; much colder; small
ance of Texas coast
The New Orleans Times Democrat
says: In the effort to discount the gov
ernments cotton crop estimate due to-
morrow afternoon, the talent is confront
ed by an uncommon condition of affairs.
The second largest crop Is promised, the
largest consumption on record is prom
| lsed and now almost seems assured. Last
! years consumption was as large as this
| years crop and is likely to prove it, and
| II this years consumption Is to exceed
=
duction 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 II
should not be forgotten that one year age
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
| fluences, as we'll as the independence OF
an emancipated farmer, but they do not
discount sustained excess of CONSUMPTION
| over production.
Last years heavy yield literally saved
/ splnnerS 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
| spinner to expand his trade and need
/ Thus we are confronted by q prospect OF
actual consumption In 1928 of, say fiji
| teen million bales, which Is the reason
why the talent, in Squaring UP their ac-
| counts on the eve of the government croI
| estimate by more contracts than they sell
| even in the face of a wonderful advance
| during the past few weeks. The esti.
mate, which viii not include linters, vii
| tomorrow. The figure, it is expected, viii
/ fall below fourteen million The talen
as rule is looking for commercial croI
| of 14,500 600 bales.
Following are 10 a. m. bids: December
12.75; January, 1878; March, 1882; May
| 1888; July, 1895
Estimated receipts for Thursday:
New Orleans. .....11 500 to IL. 500 1144j
4 t2l -,