Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-08
TRADE BUYING
PROVES PRO!
TOCONTRACTS
Continued Improvement in ;rop
Prospects Is Offset by Study
Foreign Mills AbsorptiO.

NEW ORLEANS, June Parish
speculation in the cotton mart re-
ceived a decided setback Midday
when the Government Bureau sport,
placing the average condition ( the
crop on May 25 at 79.1, was sued.
The trade here had been exciting
around SO, while certain Of Il bear
element had been countingon
showing of "a or better. Thactual
figures, s. below the ten-year Serage
of May 25, were so far below sneral
expectations that ring tradersn this
market were stunned for a moent-
When they recovered fror their
surprise, and started to bu back
some of the cotton they hs been
gayly selling before the reportvas is
sued. they had to bid the maket up
l6 points or more before the could
get under cover. Had 1t not sen for
the fact that the few remaing bulls
in the market realized that alisunct
Improvement has taken plac in the
condition of the crop since thdate OF
the bureau, and were wtllinito sell
on a moderate advance, tn shorts
would have found themselS IN a
very tight position.
Famous Bulls in Eas
Another thing that was tdhe ad-
vantage of the bear elementNas the
fact that Messrs. Brown an Hayne,
the bull leaders. are in New crk, at
tending the Federal Investigation Of
the alleged bull pool, in vdch the
McFaddens and other bearn inter-
ests were squeezed two Ars ago
until they "squealed.' Hs Brown
and Hayne been here, II is onsldered
unlikely that they would hai let slip
the opportunity to get in an-her lick
at their ancient enemy, the ier spec
ulator.
In studying the figures ! condi-
ton put forth by the Goverrlent Bu-
reau. it is found that the lofaverage
was caused almost entirel by the
low conditions reported as REVEALING
in the Atlantics May 25. N Georgia
condition Of 90, as compare with "a
last year, came in for muclcritclsm
at the hands of the talentAt being
contended that the GeorgiaFop was
no worse off than the Alahna crop
before the rains came May l-26, but
the Government Bureau pced the
average condition Of the Alabama
crop at points better tina that or
Georgia. Last year the crp in the
Atlantics got a bad startlb but the
bureau placed the average condition
at "a for both States.
Since the bureau reportlhe crop
has made rapid improvemit in all
sections of the belt. The wtther has
been warm and dry, enablif the re-
planted cotton to come upo a good
stand, and aiding the farmet to catch
up with the cultivation Of he crops.
Rain is now beginning to e needed
in some sections, especiay Texas
and South Carolina, and sltld rains
be delayed much longer thshort in
terest in the market wou become
decidedly nervous.
Trade Buying Is FeAre.
Trade buying continues feature
of the market, and it is e absorp-
ton Of contracts by EurCean spin
ming interests that holds ie market
so steady in the face Of depressed
stock market and the geIrally pre-
vailing bearish sentinel Cables
from Moscow recently rec9ed in this
market state that spinns in that
country are bare of stock and will
need several hundred thoiand bales
Of old crop American coon before
the end of August.
Southern spot owners aTlnaintain-
ing a firm attitude, and & specula-
tive attacks being made ! the July
position here and in Ne9 York, for
the purpose Of inducing tim TO turn
loose, have been of no aAil in that
respect.
Liverpool interests wi probably
take care of the short S lers of the
July position in New Yort
COTTON MARKET oiNIoNs.