Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-17
COTTON GOSSIP

NEW YORK. July III. NJ. Ander-
son: The market was firm early on
the Giles report, showing a deteriora-
tlon OF IA during the past two weeks,
ana on scattered short covering in July.
Cuerlngs, however, become freer on the
slight advance and the market reacted,
becoming extremely inactive after the
first hour.
Traders were disincIined to believe
the Giles figures on the popular impress
on in that the crop has improved since
the last Bureau report. We hear Of an
other shipment of I 900 bales out of the
local stock, which will reduce it to U.s.
OOg and this has tendency to restrict
sales and makes the market narrow"
Low Temperatures.
The market was narrow. with scarcely
any improvement in general business.
Continued drouth and high tempera-
lures in Texas and Oklahoma was about
the only argument the bulls had to Of
Ter on the production question yester-
day. Now that high temperatures
are eliminated, what are the bulls go
ing to argue next?
Majority sentiment remains bearish,
but the market is too small and trade
too light for prices to get out of the
rUt.
Baruch was perhaps the best buyer
yesterday early, but sold some in the
afternoon. Mitchell, who is talking
brokers bought a little and the Wal
dorf crowd, or what is left Of it, APP
parently took on little. Clifford, VIII
son, McGhee, Black, McFadden, Rich
and Flynn sold.
prices. based on the small stocks in
New York and the fear of boil weevil
damage through the western belt.
Dallas wires: Texas and Oklahoma.
clear and warm. y
Estimates that the yield west of the
by 100000 bales were current yester-
Montgomery, Ala, wires: IAN our
crop reports are one way-eXcellent.
Weather could not be more favorable
and cotton fruiting fine.
Beaumont, Tex: THE cotton crop
in this county will probably be the
largest ever raised. So far there has
been no appearance of insect pests, or
other troubles, and the plants are BIOS
somin1g, and in some instances setting
bolls."
NEW ORLEANS, July Hayward
e. Clark: The weather map shows very
favorable fair, distinctly cooler in North
Texas, Oklahoma and Western Arkan-
sas; fair over rest Of the belt, except
some cloudiness over the Atlantic Coast
and Central Gulf districts; some showers
in Mississippi and Florida. Indications
are for increasing cloudiness In North
Texas. Oklahoma and Arkansas Partly
cloudy to fair over the rest Of the belt.
The New Orleans Times Democrat
says: "Steadiness Of the old crop de-
liveries (New Orleans July was traded
in at between l2,4S and Y 81 all day
yesterday, as against - 7-16 for mid
ding spOts) and fear entertained by the
talent as to the possible extent Of the
seasons boil weevil damage inspired
cotton market support, while war ru-
mors from the Far East were used as
an offset. The market being in the
shadow of Washington's legislative
threat, developed no enterprise. The
talent awaited developments.
well within the range of possibility,
the crop seems to be progressing to-
ward a large yield Whether il Is to
be $4,000 900, $4,000, 600 or 16, 5000 900
bales no man can now know. Bulls
are convinced the latter figure Is not
attainable, because OF the lateness OF
the start, the spotted characte Of some
stands, and the unfavorable weather
IN the late spring over large portion
Of the belt. Equally certain are the
bears that the pointer IS for a much
larger crop than in 1912-1913.
Meanwhile, there Is far less evidence
Of forward buying by splnners than is
usual at this time of the year Foreign
spinners are being told that hostile
legislation in America win transfer cot
ton market control to Europe. conse-
quently the foreign trade seems to be
waiting in the expectation that lower
raw cotton prices will rule"