Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-02
COTTON GOSSIP

NEW YORK. July As Tate says:
THE Journal of Commerce crop report
tends to confirm advices of statisticians
like Turner and Miss Giles. and the re-
port issued by Clement and Curtis of
Chicago, that this crop has shown little,
If any improvement during the month
of June. If The Journal of Commerce is
a forecast of the Government, we may
see higher prices temporarily, as the in
fuence now will be weather conditions
for the next two weeks.
Good generally soaking rains will tend
to cause declines while a continuation OF
this dry weather on an already al
normally small plant, which is said TO be
two to four weeks late will tend to
strengthen bullish ideas. Our reports
from Texas and Oklahoma are very fine,
but Oklahoma is said to be suffering for
want Of rain now, though not seriously.
| have just returned from a part of Ala
bama and Tennessee, where ! saw
great deal Of very small cotton and peo-
pie whom l questioned from other sec
TONS which l did not visit. generally
reported the plant as small and back
ward. being two to four weeks late in
growth. but stated there was good tap
root. The question now Is whether
seasonable weather in July can restore
ing quality"
NEW YORK, July 1.-The ring was
day. The Journal of Commerce report
being bullish, caused wave of short
covering.
Riordan was good buyer of October,
causing the rally. Shearson bought TO-
900 bales of January around 11.47.
Schill, Geran and O'Conner sold some.
Riordan offered him 5000 bales.
III. i
as acute and should our stock remain
small. which is only about $4,000 bales,
1t might go TO any price.
Around the close yesterday Mitchell,
Mohr, Wilson. Cone, Geer, Orvis. Nc
Chez, RAFT Riordan and Starr were the
I Fi6h sc 5qHers wa Giearmsn WFg1
gomery.. PARROT and Rice were the
principal sellers.
Dallas wires: Texas, generally part
Oklahoma, part cloudy to clear"
NEW ORLEANS. July Hayward &
Clark: The weather map, very favor
able, shows generally fair in the At
and Oklahoma. Few scattered show
ers with good rains in Northeast Texas.
Cloudy in Central belt. with fine rains
in Louisiana and Mississippi and parts
of Alabama. Little rain so far in Arkan-
sas, but rain formation movsng on that
State to-day causing general rains. In
dicatiOns are for clearing IN the West
ern States; rain in the Central tSates;
part cloudy to fair in the Atlantics.
The Democratic Senatorial caucus to-
day adopted the Clark amendment 10
the tariff bill, imposing a tax of one
tenth Of l cent a pound on contracts
for NHHH Il g ton HWa
cases in which the delivery is not made.
Only Senators Thornton and Ransdell
Of Louisiana voted against it.
Party in Central Texas says: Crop
prospects are the best in history In
Central Texas and West Texas where
last year all was dried up; the plant is
large and thrifty and fine reserve
moisture a1 ii a the g {Sra1 fa cq PS is
got some on our farm nearly four feet
high, showing II to Is near fully devel-
oped bolls already. On sandy land con-
ditions are still better, as they show
large fully developed plant, strong and
healthy
The New Orleans Times Democrat
says: Further beneficial rains fell in
portions of the belt where rains have
been needed and Liverpool made a poor
response. to the American fluctuations
Of Monday, consequently, during the
early session, the cis-AtantiC rings
ranged a little lower In the late ses-
sion, more favorable advice concerning
the Balkans situation we're received,
shorts began to cover and the American
markets closed slightly higher, through
out the day, however, Interest centered
on the legislative situation at Wash
ington and cotton merchants and spin
ners in all parts Of the South kept the
telegraph wires hot with requests for
information. American consumers who
use the hedge market interpret the
proposed tax rider to the tariff bill as
prohibitive; actual cotton merchants say
its passage would necessitate an in
creased middle mans profit to cover the
risk. or to cover the cost and incOn-
venience of hedging at Liverpool
The talent expressed the opionion
that the New York future market would
move to Canada and operate under the
English law. while the New Orleans
future market, which in every
way conforms with the Recommended
tions made by the Federal Bureau of
Corporations, and which is the pro-
ducers' market, would be seriously in
jured by the proposed prohibitive tax.
THE efature of the cotton market was
the fact that export freight room for
July sailing out of New York now
amounts to % 900 bales. which will
come out of the New York stock. New
York's stock totaled only 55,643 bales
yesterday. This gave rise TO the be-
lief that bullish operations in July may
10 To Ar