Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-16
NEWS AND GOSSIP
Of TIE Fleecy Staple

NEW YORK, Oct. l6.-Carpenter. Bag
got & Co: There was very little cotton
for sale today, and this was a chief fac
tor for the short covering, The demand
continued good throughout the day
Spot interests have been among the
most aggressive parties of the day. but
no spinners demand was reported.
Dallas wires: "Texas-Generally cloudy
and damp; San Antonio reports raining
since yesterday afternoon; drizzling rain
at Jacksonville, Athens, Mount Pleasant,
/ light rain at Nacogdoches. Oklahoma
Generally fair; 40 to SO above
The market was bought today on storm
news, but the crowd was inclined to sell
on all rallies and pay little attention to
anything bullish.
McFadden. Mitchell, Springs, Riordan
were sellers on declines. Bashford, Shear
son and Waters best buyers and those
who sold yesterday were buyers. Market
has little snap
Political news abroad better today, but
publish influences seem to have little eff
feet on market, as sentiment continues
extremely bearish. Trade buying has
been principal support today:
Der 10 Ss sre IL ~ bids QSt 20
March 1857.
NEW ORLEANS. Oct 16.-Hayward &,
Clark: The, weather map is favora BILE,
showing partly cloudy to fair in central
and eastern states; only few light sprin-
kles. Mississippi rainy; misty weather in
IeXas Geenral precipitation, mostly light
IN Texas, except south portion, where it
is heavier Storm formation touching
south Texas indicated course over Rio
Grande into Mexico. Indications are for
partly cloudy to fair in central and east
ern states; misty rainy weather in west
ern states. Storm over mouth of Rio
Grande will in all probability move up
belt indicated
Official sources report from Browns
vile, Tex, says: Severe storm here.
About ten houses blown dwon. Wind
| blowing about so miles per hour Corpus
Christi, very heavy blow. Telegraph poles
blown down and general damage. Claimed
part OF dock at Arkansas Pass gone.
Heavy rains well scattered over the state
Damaging open cotton
Liverpool reports covering of large short
lines today.
Extensive cold wave formation in north
west, but will hardly be felt before be-
ginning of next week.
Storm warning: Hurricane warning or
deTed for Texas coast.
The New Orleans Times Democrat saws.
Neither the talent nor the trade is now
deYoting much time or attention to the
ultimate questions of supply and require
ment, as both are kept fun busy with
price factors and market phases that af-
feet the present rather than the future
Nevertheless, since the preponderance OF
evidence bearing upon distant develop
ments distinctly favors the bearish cause.
provided of course, that the crop is to
prove fairly large one and the equi-
poise of trade is TO receive some sort Of
a telling jolt from the complicated state
the political affairs of Europe have fallen
into, the follower Of the bearish banner
now feels little or no concern over the
outcome.
For these reasons, the cotton market
appears helpless and largely friendless at
times. However, the declines are far
more gradual than the extreme big crop
low price people believe are justified by
current environment, a fact which opens q
question Of cause and effect. As most
cotton market operators are bearsh TO
the core, and as no pronounced opposi-
ton to declines is in evidence the Spec-
ulative seller is probably restrained only
by lingering fear OF a repetition Of his
disastrous experience in an oversold mar
ket during the spring and early sum
mer Of 1912 therefore he is not selling
himself into q hole now. Whether this
fear will become abated under the in
fluence of slack demand for the actual.
the spread of Europe's war fever and
the accumulation Of unsold stocks on this
side. or whether il is so deep rooted as 10
endure, thereby avoiding the conditions
that caused the trouble of the short crowd
last spring, remains to be seen,
Estimated receipts Thursday:
1912 1911
New Orleans .... $500 to $500 S3l3
Galveston .....,..l9, 900 to q 500 l7,441