Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-03-08
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW YORK. March IN. IL. Carpeu-
ter & Col. N. Anderson says; THE
opening of the market was quiet Win
transactions light During the first halt
/ hour, however, there was several good
selling orders in the market coming from
brokers who sometimes represent some
Of the larger interests mere. However
the cotton sold was said 10 he for specu-
lative account
Later in the day the selling started
again and at the moment there seems to
be very little cotton wanted. Many OPP
orators about the floor. some OF whom are
visitors from the South, at present are
free in expressing the belief that May
contracts win sell at II cents in very
short time unless something unforeseen
happens to prevent. There are very lew
bullish expressions heard.
Have heard Of several good sales OF
spot cotton yesterday. but there has been
no news Of importance in this line TO-DAY.
Howard Wilson bid II 80 for 10000 July.
Raymond Pynchon bought the market on
scale down. The ring crowd were Sood
sellers.
Liverpool cables American forward
ed 1858 bales: total. S1,425 American
decrease, u 900 bales
Warehouse stocks in New York today,
II I, 263; certficated 9S,110.
Up to Wednesday there has been 10000
bales delivered on March contracts.
These deliveries are the heaviest for any
month yet this year.
The New York Commercial says:
"E J. Watson president of the Southern
cotton congress. has sent a warning TO
cotton farmers throughout the South not
to plant a record crop of cotton this year,
but Try to keep up high stand price for
the staple by planting a certain percent
age Of their land in corn and other food
stuffs. This warning is taken as con-
flrmation of the growing impression that
a record acreage will be put in cotton this
season"
Black and Shearson, bought March Fl
and Montgomery bought May. Gumoens,
Mitchell and Slack sold March. Orvis,
Finn bought July. Henta Watkins
Gumoens, Virgins. McElroy and Mayes
sold. A. Rothschild and Norden bought
October. Russell sold.
After the call McElroy, Hartcorn,
Boyce, Slack and Hooper were leading
buyers. Mayes. Norden, Mitchell, Wat
kins, Hentz. Bashford. ShearsOn. Wig
gins, Hopkins and Dwight were leading
sellers.
Hooper. bought 5000 July from Mitchell,
which was said to be a Liverpool house.
Sentiment continues bearish with the
majority inclined to sell on all hard spots.
There is no evident support from the bull
forces. There was good selling on crop
preparations
weather in the main was favorable. Field
work is being vigorously pushed Rapid
progress has been made. 1T is stated dur
ing the last few weeks in Mississippi,
Arkansas and Tennessee. with the soil in
good shape North Carolina dispatches
stated that more field work has been done
in that state and i'll other Atlantic states
thus far than was done up to April 10 last
year Augusta, Ca. adVices state that
crop preparations are four to six weeks
ahead of last year, adding. however, that
last year they were very backward.
Some advces say that in Georgia field
work is fully up to normal
Fort Worth. Tex, wires: Crop prep
arations hardly UP to normal; whole west
Texas = Yer, very dry Believe new crop buy
J Liverpool cables; Market steady, but
less continental demand"
Following are II a m. bids: March
12.2S. May 1870, July 11.S4, October 11.44
NEW ORLEANS, March Hayward &
Clark: Washington weather bureau an
yesterday over Texas and the
western portion OF the cotton belt good
dition
Possibly some light precipitation in the
western half of the belt
Spots neglected. Lower to sell to affect
Consols broke lad over night; now ths
lowest in years.
Liverpool cables: american middling
fair 7.S7d, good middling 703d middling
6.Sid, low middling $3.50, good ordinary
6.29d, ordinary 5.95d
Official cotton weights at the close of
February: Average belt 526,3 against
51927 last year Texas S39.15, against
52s So; Louisiana 52607, against 52710;
Alabama 533.51, against 52S45 Georgia
50744, against 511.12; South Carolina Al.
against 495; North Carolina 49S, against
400; Virginia. 492, against 400; Tennessee
525. II. against 526.17; Memphis 535.97,
a gainst $500
The New Orleans Times Democrat says:
Sober second thought convinced the tai
ent that a lower premium for staple
cotton and some easineSS in the market
for tingeS and stains do not necessarily
constitute an inherently weak spot mar
ket situation and the declining tendency
in the contract market was apparently
arrested at 1918 for May in New Orleans.
THE weather was good, demand was
limited, and bears were as bearish at
heart as ever. They made much of a
London cable reporting an urgent Ger
man demand for gold and talked q great
deal about military expansion in both
France and Germany as Il warlike prep
aration. Bulls, on the other hand, said
white cotton, while in only limited de-
mand, is becoming more and more diff
ficuit to obtain. and that to them the
position of the seller of contracts at dis
counts seems more and more untenable.
Meanwhile the market continues in rut. -
Following are 10 a. m. bids: March
1917. May 1910. July 1909. October II A
Estimated receipts for Saturday:
New Orleans $500 to $500 4,57i
Galveston ......... 1000 to 5000 6,l2S