Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-02-07
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW ORLEANS, Feb. IN. l.. Car
penter u Co: There is very little of in
terest to give readers on the cotton mar
ket at this time. We are drifting be
tween seasons; both factions awaiting de-
velopments which will justify more con-
WINGED opinions and some stronger move
toward the confirmation of their judg-
ment
OF course we have had temporary linn
tied declines from time to time on any
effort at liquidation, because the market
was too narrow to withstand the press
ure, but we think on the whole optimistic
ideas have predominated, encouraged by
reports of continued good trade conditions.
kilograms today from the South re-
port better demand for spots and Savan-
nah, Ga, reports an advance of is This
IS causing considerable nervousness
among local shorts, particularly those who
are short of March, as first notice day is
now only three weeks off.
Warehouse stocks in New York today
l22 S9l; certiticated 92,S05 bales.
Liverpool has been good buyer this
morning; reported spot markets higher;
better demand for spots March shorts APP
pear very nervous.
Liverpool cables: american forwarded
1880 bales; total 1851; American in
crease 1899 bales.
Kings into-sght figures estimated at
10000 to 100000 bales; spinners takings
100000 to $40, 900 bales.
Liverpool was a buyer There was con-
siderable covering of shorts. The demand
was supplied on the advance, however,
and il looked as if the larger long lines
were being reduced Press dispatches in
dicatng that a holy war had been de-
clared by the Moslems attracted attention
and was emphasized by local bears as
likely to prolong unsettled European con-
dtions.
The sleeping market. which has been
witness for the past week or two, was
awakened Yesterday during the last half
hour of trading caused by the heavy buy
ing, which was said to be for Pell inter-
eSts
What the market needs worse than any
thing else is support
The big traders have been lurking
around almost ever since the high rec
ordS We're established during the middle
of December.
Thomasville, Ca, reports that there has
been more work done in that section than
has been the case in previous Januarys
in a long time.
The New York Commercial says: There
is evident abroad none of the peSSimism
which is obser 9.ble here and the trade is
beginning to be impressed by the mani
fest confidence there in the face of the
fresh outbreak OF war in the Balkans.
Reports from England point to continue
uon OF the great prosperity which the
spinning industry enjoyed last year, when,
according to an English cotton mill au-
thorlty the profit on the share capital of
spinning corporations was Ii per cent.
Most of the English mills have sold their
product ahead to July. Reports from
Manchester show that large orders have
been booked from the continent particu-
larly Germany and France, while a re-
taxation in the monetary situation has
been helpful"
Liverpool cables: American middlng
716; middling, 6.49; low middling, 6.76;
good ordinary, $50; ordinary, 500.
Following are II a m. bids: March
II 90, May 1928, July 1929, October l1.63.
NEW ORLEANS, Feb. Hayward &
Clark: The weather map shows cloudy
over the entire belt. Some rain in Texas,
light sprinkle in Arkansas, none else
where. Much cooler in northern and Gems
trail Texas Indications are for clearing,
clod in the northwestern quarter. Rain
or snow in central states. Rain in east
ern states. Some storm along gulf coast
followed by severe cold wave clearing
Sunday
Northeast storm warning: Louisiana to
Texas coast: Disturbance off mouth of
RIO Grande, will move eastward and cause
brisk to high northeast to north winds.
Freezing nearly to coast.
Spots about sc higher TO buy on the
advance in figures. VIII probably be
quoted lsc higher today if futures hold.
Demand small and scattered.
The New Orleans Times Democrat says:
| Like the proverbial worm, the spot cot
ton owner turned and had an inning OF
| his own. There was not much demand
! but there was enough to suggest that spot
buyers are tired of the waiting game be-
lore spot sellers mad begun to feel neTV-
Gus. This being contrary to bearish eX-
pectattonS, the market reflected undeTly-
ing strength and an advancing tendency.
During weeks past the talent has been
beartSh to the core, and beariSh factors
nave been exploited with keen vigor and
subtle enterprise. Even the little things,
inCOnsequental in themselves, but sus-
ceptible of bearish Interpretation, have
been made to do fun service as prices
hoping influences But the market has
shown logged resistance to further de-
Clines, and has persistently refused to
work toward the extreme low levels re-
peatedly promised by constitutional bears
The men on the sidelines, while open
to conviction in either direction, S not
at all surprised over the action of the
market. He has heard all the talk about
bulliSh manipulation. He has heard the
sence of inquiry for export freight room.
War news and lack of demand for the
actual stuff have been served to him as
a daily diet. But he has notes on his
own account the persistency with which
spinners absorb a greater quantity of cot
ton each week that the growth of 1912
can possibly supply on the average He
has noted besides the rapid shrinkage in
the volume of receipts, in the stocks at
the ports, and in the supply available for
export, particularly at New Orleans; and
he has reached the conclusion that the
Statisticians are now merely reproducing
by far-Sghted demand long ago"
Following are II a. m. bids March
1888, May l2.45, July 12.47, October II 6S.
Estimated receipts for Saturday:
New Orleans a.4O6 TO to 4 300 1 iS72