Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-12
COTTON GOSSIP

Sentiment continues bearish and a
disposition to sell on all rallies The
market opened steady, however. and
futures rallied hriskly through active
tiers, Craig Il Weld, brokers, were no.
uceable on the buying side, while Rior-
dan sold. Offerings We're well abb
sorbed and 1t soon became evident that
there was no lack of buying orders.
The New York Commercial says: at
is evident that around IL cents cotton
has again entered debatable ground.
Spinners' who refused to pay Ia cents
two weeks ago are not averse to ems
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
dicative of large crop. The presump-
ton still is against extreme ideas either
way"
1t is rumored that Joseph Newburger
is about to issue crop estimate in the
neighborhood of 100000 bales.
Theodore Price says: THE ginning TO
November 1 seems corroborative OF the
largest crop estimates The fact that
the figures so closely approximate those
of last year, despite the heavy rains
impossible roads and the scarcity OF
Mexican labor in Texas this year con
vinces me that the crop must be sub
stanually larger than last year"
Neill Bros. of London. in their latest
circular estimate the crop at l3,0O0, 900
bales and consumption at 14,75O, 900
bales.
A Paris, Texas, cotton man says: II
aGT tTf1l Fa ft,A
$3.50 900 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
The New Orleans Times Democrat
says Ideal weather for picking and
ginning and the consequent fear that
tul glnnings during the period ending
November IA may make big crop est
mate seem less extreme, was probably
the immediate cause Of yesterdays cot
ton market decline. Collateral infiu-
ences included a rumor that a promi-
nent spot man would estimate the crop
the interior, encountering tight mon
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 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 campai gn.
Now the bulls realize that they
erred in believing the market, after the
coming of frost would go on advancing
until a consumption checking price
level should be attained. Meanwhile,
current market fluctuations bear only
a remote, II any relationship, to the
size of the crop or TO the ultimate sup
ply requirement equation.
Estimates of production cover a
range of nearly 100000 bales. The
| trade, as rule, is far more inclined
to pin faith to the smaller guesses than
| they are to the larger. Probably 80
per cent of the talent believe the crop
| is under 1880, 900 bales and that the
actual consumption is larger than that
figure"