Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-20
COTTON GOSSIP

NEW YORK. June 19.-J. NJ Ander-
son. The map was favorable and sell
ing rather general after the opening
Liverpool and the South were reported
sellers. After this selling was over the
market steadied up and at the moment
there seems to be verv few contracts
/ for sale and the market ruling very
steady II Is believed there is still
short interest existing In the summer
/ positions. and, n IL is true, we may eN-
| pect "A further rally II would be nat
ural TO assume that the technical posi-
| ton was weaker after the enormous
! short covering for the past week, but
| the bulls contend that new shorts took
their places and would be easily fright
I eued TO cover on any substantial buy
/ ing. therefore. it is wise to caution for
The present
Wall Street and the uptown crowd
were inclined 20 sell on the hard spots
yesterday and the South sold on the
Texas rains There was a lot Of small
sized orders executed both ways. but
the volume Of business was the light
est for the week.
Many traders are bearish a the heart
but are afraid to sell because OF the
trimming they have gotten In the past
few weeks.
A healthy reaction Is freely talked by
the majority Of traders probably on ac-
count Of reduction IN the short interest
and the discharge Of the head Of the
Bureau Of Statistics at Washington.
Dallas wires: West Texas cloudy
showery in the central part and cloudy;
balance clear oklahoma generally
part cloudy
John y. Rockefeller's general board 81
"a aHs.N
S5.000.000 a year to teach Southerners
better farming.
NEW ORLEANS. June Hayward
& Clark: The most important news
over night IS the discharge Of the head
Of the Bureau Of Statistics Al Washing
ton V. n. Olmstead, for lack Of dsci-
pline and poor administration Of that
office, which sustains the claim that the
condition report Of May % was wrong
The weather map shows very favor
able conditions, part doudy I'm belt and
warm without any excess anywhere,
except at New Orleans. Fine rains gen.
eral over west Texas. Scattered show
ers in the Eastern States. Indications
are for part cloudy TO fair. continued
warm. some scattered showers.
The New orleans Times Democrat
says. Favorable temperature all over
the belt and further rains in Texas
where needed assisted the reactiOnists,
and the American cotton future markets
declined about enough to widen out the
international parity as much as Il was
narrowed Tuesday. Low price people
promptly revived their claim that under
lying conditions are better bearish and
asserted the market viii now work low
er. However. crop reports at the mo-
ment are badly mixed and range all the
way from the best on record TO the
worst I'm years
Making full allowance for enthusiasm
the promise at this time seems suff-
GENTLY involved TO modify the influence
Of the bear promise Of a monster yield
which, IN the parlance Of the day, means
hand. acreage increase. favorable wealth
er. the excellent reports low price peo-
pie are IN position 10 produce day after
day from one section or another, hold
the bull on consumption well within
bounds Meanwhile the talent as a
matter Of fact Is still in the dark as to
the status Of the crop, though opinion
as 10 the acreage Is beginning TO CEN
ter on an Increase over last year Of about
3 per cent. The low condition percent
age put out by the government on June
? seems to have met with a more con
vinCing reception among consumers than
among the talent, the former acting on
the report by buying covers and the lat
ter for the most part protesting that
the condition Of the crop Is better than
shown The creation Of market inter-
est has been shaped by these opposing
views during the past three weeks and
as opposed TO speculative short interest
has been responsible for an exhibition Of
strength rather than weakness at q
time when custom suggested technical
weakness as a result of speculative COW
ering"