Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-01
This Last Last
Week. Week. Year.

n. l.. Carpenter & Co. says: "As is
shown by Secretary Hester's estimate
of the into sight movement for this
Week which he places at 742, 900 to 1872
900 bales, compared with 74S,000 last
year and 64l, 600 in 1911, we must real
lie that the period of full movement of
this cotton crop has been reached within
the first go days of the present season,
and now is the time when the buyer
who failed TO secure at least a part of
his requirement for the year is hoping
by dint Of circumstances that prices will
be depressed, giving the manufacturer
the last chance of the season to get
cheap cotton; therefore, it is natural
and one of the laws of self preservation
that the buyers Of the great staple
should combine in all their efforts to
use every argument to depress values
so that they can get what they call
little cheap cotton.
For the next three or four weeks
the cotton market promises to be rather
a Scalping affair until the heavy move
ment is disposed Of but on any good
the most profitable. At present we be-
lieve there is a large, unWieldly, scat
tered long interest which has accumu-
lated from buying on forecast of freez-
ing weather, which has developed this
week, but the market is SO narrow that
there does not seem to be enough buy
ing power left to lift it until the SELL
ing from natural liquidation, following
a decline, takes place; therefore. we may
see lower prices: Such a decline, if it
takes place. would be good chance to
purchase, as we believe in ultimately
much higher prices"
The New Orleans Times Democrat
says: Definite information has now be-
gun to come from the fields. showing
the extent of damage done by alienat-
Ing frost and rain, and the picture pre-
scented, must rub. the man who uses
actual cotton for industrial purposes in
a decidedly unpleasant manner.
The spinner was left at the post on
the advance from II cents, and has not
yet purchased narmol supply for for
ward delivery. Consequently he is not
classed as a friend Of the market and
may be depended on to fight an upward
price trend whenever possible, by adher-
Ing to his more or less enforced policy
of hand to mouth buying. But when
dips come, and forward sellers find long
hedges comparatively cheap. the spin
ners' untitled basket will catch enough
bales to check declines without much
reference to what spectators may be
doing at the time.
In the event really big dip should
come, as result of overcrowding on the
long side, consumers, being in need and
fearful lest the available supply of de-
sirable cotton will escape them, will
probably acquire first mortgage on
the remainder of the crop
Under such circumstances the pend
ing revolution in the supply require
ment equation will become apparent and
in force without further pickering. But
should confident bulls and timid bears
crowd the consumer during November
and December. January will find supply
merchants committed for less than a
normal percentage of the seasons yield,
and the process of price adjustment may
proceed practically through the season,
leaving the full force of changed condi-
lions to be felt next year. if the crop
then be a small one, or If the crop then
be as large as the requirement until the
next season Of small supply"