Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
RAINSINJURING
OPEN COTTON;
PRICES FIRNER
BoIIs Rotting and Sprouting,
Staple Being Beaten Out, Say
Reports at Spot Market,

MEMPHIS, Sept. 2o.-One extreme
has followed another. Long drouth
has been succeeded by excessive rains
The cotton market. in consequence.
has shown unusual strength
Rejoicing when the drouth was
broken turned to dismay when the
rains showed no let-up. Very soon It
was realized that damage not i'm
provement, would result from the
downpour. The combination Of drouth
followed by heavy rains was particu-
larry disastrous. The drOuth forced
the cotton open prematurcly and with
a large percentage Of the bolls in the
fields open to the rain, damage to
grade of the staple was inevitable.
The outcome, so far as the producer
is concerned. amounts to the same
thing. Drouth threatened to cut
short the yield. The rains offset this
to some extent but cheapened the
cotton already developed. The rains
will not reduce the number Of bales
materially. The famous storm year,
1906, proved this cOnclusively.
Complaints have poured In from the
sections that have been so heavily
drenched The market has respond
ed readily and has stimulated bullish
activity to a degre that conservative
people fear is bit dangerous. 1t will
take several day SCATTER the wet spell
passes before the real situation can
be ascertained. Complaints have come
here of bOlls rOtting and sprOuting,
as well as Of open cotton being beat
en- out. In those sections where
growth had not been practically
stopped by the drouth there will be
an added growth that will require a
late frost II much fruit is not to be
nipped.
WseviIs Are Buster.
In the sections that have the weevil
increased activity by the pest is &C.
ported, AMI the weevils will get prac-
tiCally all the late fruiting Whc~e
they are so numerous.
The effect Of the changed aspect ~
the yield situation, although IT rs
lust as difficult as ever TO get an &C
curte line on what the trade THINKS
the crop win be, has been to make
the spot department of the market
complex ideas are sitter as to the
higher grades, and some increase in
premiums
Prospect Of Washington legislation
providing FOR the adoption Of Gov
eminent standards and the limiting
Of contract deliveries 20 few grades.
and those with ruling commercial
differences, has been factor ut
strength in the contract market. such
a law would be regarded as bullish,
especially if there is to be big pro
portion of low grades this season.
Spinners Holding OFF.
Buying has been fairly free, but
has come chiefly from those concerns
that entered into contracts during the
business has not been distributed
freely, according to the buyers in
this part Of the belt, as splnners are
not yet disposed to accept the revised
crop ideas and say they will buy just
as little as possible until more def
mite opinions can he formed. Tine
frmness in money and difference N
cost Of raw material compared with
year ago both encourage this wait
ing attitude, no matter how much
they have to buy later and at what
prices.
TIE labor troubles at Texas ports
have interfered to some extent with
buying in that territory and caused
some operators to go to the Atlantic
sections for cotton for immediate
shipment This is thought to have
helped in boosting quotations in that
direction faster than they have ad-
vanced in the Southwest
Movement is running as freely as
expected, but the interruption to pick
ing because Of the wet spell will tend
to check receipts temporarily. There
has been nothing like distressed
cotton in evidence yet anywhere