Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-06
COTTON GOSSIP

Wv - - O1N NORN11
The trading on the opening was of a
light character. Cone was probably the
best seller Wiggin was the leading
buyer on the call After the call the
market was supported by March. Hentz,
Mitchell and Waters, with very little
cotton for sale. General sentiment con-
tinues bearish, however.
1t was rumored that the National
Ginners Association reports ginnings to
November l at $4,000 bales. If the
Census Bureau report is the same it
may be very bullish, according to con-
sentative operators.
Journal Of Commerce says at is
pointed out that a good many million
bales have been sold at the highest
prices for years past for the first few
months of season, and 1t Is commended
that this puts the farmer in better
position to hold IL he sees fit. The cot
ton, however. Is being rapidly sold and
thus gotten rid of so that the bulls
think the statistical position shows a
tendency steadily to strengthen. They
also maintain that the very absence OF
the outside public is a good thing, be-
cause the market Is devoid of the weak
holdings incident to outside speculation,
and that at the same time, there are
now no large concentrated holdings in
the market They still insist that the
crop Is far below the worlds require
ments."
Dallas wires: Texas generally rains
and pleasant Oklahoma-Steady rain
over entire State; average temperature
80 degrees
Rainfall: Oklahoma As, Dallas 90,
l.
Christi Is. Galveston .5S. Palestine IS.
Del Rio .06, Houston sc.
Dallas wires: Eighty per cent of the
crop picked in central Georgia. Gins
shutting down or running on part time
south OF Macon. Estimates Georgia
crop at 2,225. 900 bales.
Several cotton firms in Dallas. in
Guiding one of the largest in the South,
have closed their offices for the season
Heavy general rains over Texas and Ok
lahoma will do further damage to the
crop and delay picking"
The New Orleans Times-Democrat
says: "As on Saturday. only one
American contract market was open
for business Tuesday and trading was
restricted largely to hedging operations
and to the shifting of position by scalp
ers. The belt was cloudy and rain fell
in Texas. Advices from the Atlantics
tended to confirm early reports of i'm
portant damage done by the frosts ten
or fifteen days ago. Liverpool spot
sales were large.
Europe, while seemingly not now in
clined to buy very much cotton on this
side. nevertheless, urged no delay in the
completion of old business Actual
cotton merchants in the South said that
the spot basis on desirable cotton was
stiffening, but that the banks are very
tight
1.-THE situation with regard TO the re-
public to the southwark seems to have
fa1I,a g1tR 49,
tween the United States and Mexico are
anticipated by the markets. But il is
generally believed that Europe enter
tains sufficient respect for the so-called
plications, which would mean that inc
United States would merely engage In
international police operations on
big scale. Under such circumstances
tho cotton trade, at least believes that
international trade in general would not
be interfered with. and that army re-
quirements would really result in more
trade activity in some directions"
Columbus, Ga, wires: Crop turning
out shorter than expected since freeze.
Picking nearly over. Columbus stock
S 900 bales 5000 less than last year.
But one side to market-bullish. Three
fourths market sold.
s. Tate says: Every condition but
one is bulish, but that one Is so power
full that even with the buying that is
taking place prices do not lift as they
should. ! refer to the technical posi-
ton. believe there is too much weekly
held long cotton, and until this line is
reduced, | do not believe the market
will advance to any great extent or
hold what advance takes place.
"On the other hand, | believe we may
have a good break of 40 to so points.
But | believe in 10 cents at no distant
day"
]. b. Turner. Of Memphis, wires:
"Ginnings to November arc as fol-
lows: North Carolina, 3s6, 900 bales;
South Carolina, S31 900: Georgia. 1888,
600; Alabama, 1,028 600: Mississippi,
564, 900: Tennessee $4,000: Florida, 49,
600; Arkansas, 10000; Louisiana, 1856
900: Oklahoma, $1,000; Texas, 2,S02, 900;
others, $4,000 Total, S.607. 900 bales
Correspondents were asked II any
developments during the past two weeks
had raised their ideas of the probable
outturn of the crop Almost unanimous
ly the answer was No. Damage from
frost in North Carolina has been heavy,
but elsewhere it was moderate or light"
Austin. Texas: Very heavy rains
have fallen over this section to-day
Apparently general rain; stll raining.
Wherever there is open cotton in the
fields considerable damage will be done.
Not over 10 per cent OF crop yet to
pick"