Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-09
Futures opened steady
COTTON GOSSIP

Selling of about 10000 bales by
Gwathmey & Co..; about q, 900 bales by
Riordan and scattered selling by New
Orleans. Hentz, Liverpool, sent the
terday, but the sales evidently went into
good hands. as the market took on
a much better tone in the afternoon
and recovered the early decline. RiOr-
600 January and March around 1910.
probably for the uptown" interests
SheRrson bought about 10. 900 March,
Waters and Hicks bought and there was
a lot Of scattered covering and buying
for a turn by commission houses gem
orally. The only news of Importance
was that giving the progress of the
storm off the Carolinas and bulls made
most OF II.
John Boyle in letter to w. P. Brown
printed in the Pearsalls bulletin esti-
mated the crop at 12,s00,000 bales.
1t is thought by some that the mar
ket is again beginning to advance to-
ward lac, but others regard 1t as due
mostly to Wall street covering and think
that when this demand Is satisfied II will
require some very unfaVorable weather
TO sustain the advance. At the same
time conservative traders are not in
clined to go short. except for quick
turns, because we are approaching the
frost scare period.
Dallas wires: Texas generally cloudy;
rains at Bonham, Dennison, Whites
boro, Honey Grove. Arthur City, Paris,
Charleston and Quanoh. Temperature
20. Oklahoma-Generally cloudy, show
ers in central and esat 10"
NEW ORLEANS, Oct. s.-Hayward
and Clark: The weather map was fav-
orable, shows partly cloudy TO fair over
the entire belt; warm: no rain. except
at Oklahoma City. Charleston and WI
mington. No storm. only little in
significant disturbance of Carolina
coast, which caused heavy rains at some
coast town. Indications are for cloudy
in Western States: possibly some scat
central States, fair in AtIantics. except
rain on the coast. owing to rain DIS
turbance near Atlantic coast; no danger
OF storm
The New Orleans Times-Democrat
says: Bears were so busy selling cot
ton on reports OF fair weather and high
temperatures in the Western belt. that
they overlooked the disturbance of the
coast Of the Atlantics. in the vicinity of
Charleston. The map plainly showed
II, but only a few weather sharps paid
any attention to this new development,
which, before the day was over, was
destined 10 play havoc with the short
side, and to give fresh encouragement
to the bull forces. Recently, bearish
hopes have more and more been CEN
tered upon the excellent crop outlook
in the Atlantics.
$50 few storms strike that part of the
belt. and when they strike II does so
little damage, that no thought of dan
ger from hurricane along the At
lantic coast had entered the minds of
shorts. The news. therefore. that a
hurricane was raging near Charleston
was sufficient to check the growing
tide of bearish sentiment, in which the
few remaining longs were being en-
quilted, and caused a quick recovery in
values when least expected.
1.-THE speculative element. which
could not buy enough cotton around Il
cents recently. seemed timid about buy
ing on the break early in the day. but
trade interests stepped into the beracb
and absorbed all contracts offering, not
only In this market, but in Liverpool
and New York as well 1t was not I'M
til the storm news came that the talent
thought cotton was worth anything.
The old bull guard stood by the mark4.
but found their position uncomfor-
table, until the change in sentiment was
wrought by the report Of hurricane near
Charleston"