Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-04-06
Shorts in May and July Are
Forced to Cover on an kd-
vancing Market.
STRONG SUPPORT is SHOWN
Mcfadden Interests Lead tho
Driye-0UtloOk for Growing
Crop Is Favorable.

NEW ckLEA Ms Aprs. 81 Big n
terests have been behind the cotton
market this week. Professional trad
efs ana outside spectators. who ha
been heavily short were forced to
cover their commitments on an nd.
Vancing market
The short interest was especially
large IN the May and July positions.
and noticeable feature Of the tra J.
ing IN the first half Of the week wa-
The fact that while the near months
were advancing sharply. the new crop
deliveries stood practically still. one
reason for this was that despite 'hr
drive which the leading bun interes.E.
here and IN New York. were making
on short, the weather outlook was
favorable. enabling farmers 10 resume
planting operations. which had been
delayed by the heavy rains and freeze
that occurred In the bolt last week.
The MCFaddeu interests and their
large speculative following have been
the chief supporting factors iu he
market. The ring crowd In this mar
ket has been decidedly bearish and
Concerted efforts were made as soon
- the weather cleared Off i'm the ear
~ part of the week to break values.
From time to time the ring element
would jump on the market and ham
meiF prices down, but as soon as this
selling pressure was Withdrawn. strong
support would be in evidence and
prices would again rise. Frighteuel
by the resistance shown by the mar
lSot the majority Of the ring traders
covered their shorts with the result
that July cotton sold az practically
1880, while May contracts, which are
commanding a premium over every
other month IN the list. have sold in
the sixties
Flood Situation Exploited.
f1ug nulIigN feature winch has ItsU
exploited To the limit has been the
predicted high water Ina tho MISSISSIPPI
~ River Some OF the richest cotton
lands In the belt are situated
in the Delta. but even when
overhows have taken place the De-
"a country has always been able 10
raise fair crop OF cotton. which is
planted after the Hoods euhside EX-
perienced river men here say thut
there viii be no overflow this wear,
but sensational reports, wired ont
from Memphis regarding the stage
which the river was expected 20
reach, served the purpose OF the bull
party In New York
That cables We're actually sent 20
Liverpool stating that parts 81 the
Delta already had been overflow %
became known Wednesday Of this
week, when a prominent Liverpool
firm CT BLEED that 10 did not expect
thu food had done serious damage.
E1Ten the bulls ia this market had TO
admit that somebody had been play
ing upon the credulity OF our Eng
lkh cousins
The only break I'm the tevee has
iheen at Cairo hundreds of miles no
the Missi ssippl River whore no COZ
ton IS grown The cotton producing
cbuntry is between Memphis and Ba-
TIN Rouge. and along this stretch 90
the river all tie levecs are in goo
shape, and Il is stated by the cugi-
Tieers in charge could Withstand a
hood greater than hat of last Yea q
when several disastrous breaks na-
talrred. According to an official bull
letin issued by the Weather Bur, u
from Washington. the stage of the
RIVER between Memphis ana New or
leans viii be under that of last yea,
even when the crest of the flood
reaches the lower bends of the river.
Bullish speculation also has beer
helped to some extent by an Inn
proved spot demand. Exporters, wlo
have been short Of actual cotton -"
March shipment, have been I'm IN"
market, and as the contract market
has been at a high enough level ;o
enable them 10 sell out their hedges
to good advantage. they have bought
freely at advancing quotations
Sales in this market have not been
especially large for the reason that
the local stock Is not very large. AMI
OF that carried here large percent
age Is being held for still higher
mrlces. Memphis has a large stock
@owever. ana some large sales have
been made I'M that market. as we'll
as in Houston. where factors have
been carrying rather large stocks uf|
staple cotton
There are signs uDH f.s. The e.
40 ".. H 80
Tapped over into ArI. has about
been filled, and spot men 'u this mar
ket are inclined 90 lOpa for rather
dull period in spots during the U.Et
few weeks. unless thr weather shout
turn or bao again au. cause auug
hensiOn on the part 81 spinning tr
re-ests in reEl-C 20 On. HHH crop.
All the aGviegs receive. In this
market recently Indicate chat Will.
some replanting has been necessary
iu some counties or Southwestern
Texas where the freeze .tG some
DANA &c, the crop as whole is g"t
ting AN average start. Ir. Nra her
has been Ideal for planting rurpos
and reports are coming bon from some
~ the cotton parishes of Louisiana
stating that the crop IS coming uU Geo
q stand ana doing nicely. should -Nu
weather continue Favorable. for au-
other week or So Ii Frs NOR. than like
lv that bearish sentiment which aes|
beer recently checked. 1851. again Re-
assert itself especially II t.a spu. de-
mauG should die out
The political situation -u Eu-ore
rs also regarded as some UHar li~cour-
aging 70 "a bun campaign. and SOME
students OF foreign affairs are predict
ing a big European war before The
SIMMER begins. Paralysis Of tral
spinning industry at LgucIsh.r. (
would follow such -opweut .s