Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-13
COTTON GOSSIP

Sentiment continues bearish and
disposition to sell on all rallies. The
futures rallied briskly through active
buying by the larger spot houses. Wa
terS, Craig & Weld, brokers, were mo-
ticeable on the buying side, while Rior-
dan sold. Offerings were well alb
sorbed and 1t soon became evident that
there was no lack OF buying orders.
The New York Commercial says: 1T
is evident that around Is cents cotton
has again entered debatable ground.
Spinners who refused to pay IA cents
two weeks ago are not averse to ems
tering the market 100 points lower, but
sold-out bulls have been waiting for
just such decline SO as TO replace
their lines
"Of course ginnings to November
were large, but are not necessarily In
dicatiye of large crop. The presump-
ton stu is against extreme IDEAS either
way"
It is rumored that Joseph Newburser
is about to issue a crop estimate in the
neighborhoo6 Of 1000, 900 bales.
Theodore Price says: The ginning to
November l seems corroborative OF the
largest crop estimates. The fact that
the figures so closely approximate those
of last year, despite the heavy rains
we had during the growing period. The
impossible roads and the scarcity of
Mexican labor in Texas this year con
vinces me, that the crop must be sub
stantially larger than last year"
Neill Bros, of London, in their latest
circular estimate the crop at 100000
bales and consumption at 475O,000
bales.
A Paris, Texas, cotton man says: II
estimate the Texas cotton crop at
4,25O,00O bales with linters, The crop
from Terrell to Paris is not over so
per cent picked. Every boil is open and
many fields are white and have never
been picked. In view Of the weather
consider the Texas ginning to october
Is very large
The Texas Government Weather Blu
reau rainfall average for the State Of
Texas for the month of October was
4.S5, which is 1872 greater than normal.
The New Orleans Times Democrat
says: Ideal weather for picking and
ginning and the consequent fear that
full ginnings during the period ending
November IA may make a big crop eStt
mate seem less extreme, was probably
the immediate cause OF yesterdays cot
ton market decline. Collateral nfiu
ences included a rumor that a promi
nent spot man would estimate the crop
at l5,0W,OOO bales or more, rumor that
ey, had begun to consign cotton to the
ports, and further liquidation by dis
appointed longs who were spurred on to
action by bearishly inclined operators,
who were taking advantage of heavy
movement period during the small spot
demand month of November
"All along the bears argument against
the market has been that the presence
of a weak speculative long interest and
the absence of a large and arbitrary
short interest in spots, stood as a tenn
porary barrier against a bull campaign
Now the bulls realize that they
erred in believing the market, after the
coming of frost would go on advancing
until consumption checking price
level should be attained Meanwhile,
current market fluctuations bear only
a remote, if any relationship, to the
size of the crop or to the ultimate sup
ply requirement equation.
Estimates of production cover
range of nearly 1000, 900 bales. The
trade, as rule, is far more inclined
to pin faith to the smaller guesses than
they are to the larger. Probably 90
per cent of the talent believe the crop
is under IA 500 900 bales and that the
actual consumption is larger than that
figure"