Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-12
COTTON GOSSIP

Sentiment continues bearish and a
disposition to sell on all rallies. The
market opened steady, however, and
futures rallied brislty through active
buying by the larger spot houses. Wa
tiers, Craig q Weld, brokers, were no
ticeable on the buying side, while Rior-
dan sold. Offerings were well alb
sorbed and 1t soon became evident that
there was no lack Of buying orders.
The New York Commercial says; 1T
is evident that around IS cents cotton
has again entered debatable ground.
Spinners' who refused TO pay IA cents
two weeks ago are not sVerSe to eng
sold-out bulls have been waiting for
just such decline so as TO replace
their lines.
"Of course ginnings to. November
We're large, but are not necessarily IN
dicatiYe Of large crop. The presump-
ton stil is against extreme ideas either
way"
1t, is rumored that Joseph Newburger
is about to issue a crop estimate in the
neighborhcod of 10000 600 bales.
Theodore Price says: The ginning to
November ! seems Corroborative of the
largest crop estimates The fact that
the figures so closely approximate those
Of last year, despite the heavy rains
we had during the growing period. The
impossible roads and the scarcity of
Mexican labor in Texas this year con
vinces me that the crop must be sub
stantially larger than last year"
Nein Bros. of London, in their latest
circular estimate the crop at 10000, 900
bales and consumption at u, 1850, 900
bales
A Paris, Texas, cotton man SAYS: Il
estimate the Texas cotton crop at
4,250,000 bales with linters. The crop
from Terrell to Paris is not over 80
per cent picked Every boil is open and
many fields are white and have never
been picked In view of the weather
consider the Texas ginning to October
Is very large.
The Texas Government Weather Blu
Texas for the month Of October was
4.3o, which is 1872 greater than normal.
The New Orleans Times Democrat
says: Ideal weather for picking and
ginning and the CONSEQUENT fear that
full ginnings during the period ending
November II may make big crop esti-
mate seem less extreme. was probably
the immediate cause of yesterdays cot
ton market decline. Collateral infiu-
ences included a rumor that a promi-
nent spot man would estimate the crop
at 10 ,00O, 900 bales or more, a rumor that
the interior, enCountering tight mon
ey, had begun to consign cotton to the
ports, and further liquidation by dis
appointed longs who were spurred on to
action by bearishly inclined operators,
who were taking advantage of heavy
movement period during the small spot
demand month of November
''All along the bears argument against
the market has been that the presence
of weak speculative long interest and
the absence of a large and arbitrary
short interest in spots, stood as a tenn
porary barrier against a bull campaign.
Now the bulls realize that they
erred in believing the market, after the
coming Of frost would go on advancing
until a consumption checking price
level should be attained. Meanwhile,
current market fluctuations bear only
remote. if any relationship, to the
size Of the crop or TO the ultimate sup
ply requirement equation.
Estimates of production cover
range of nearly 10000 900 bales The
trade, as a rule, is far more inclined
to pin faith to the smaller guesses than
they are to the larger. Probably 80
per cent of the talent believe the crop
is under Ia. 500, 900 bales. and that the
actual consumption is larger than that
figure"