Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-12
HUGE RECEIPTS
HELP DEPRESS
COTTONPRICES
Habersham Kings Estimate
Comes at Psychological Mo-
ment to Aid Bears.

MEMPHIS. Oct. l1.-Pressure Of
the actual cotton on the market and a
better brand Of weather form the com
hinarion which have helped bring
about a reaction in prices during the
week. Another factor is the fact that
speculation had run so largely to the
bull side and had resulted In an &C
cumulated long interest, thus weak
ening the market from purely
techniCa. point Of view.
One Of the incentives sending quo
tations to "A cents was the damage
TO the crop in portions OF Texas,
Louisiana, Arkansas and Mississippi
from me general rains Some of these
reports were sensational and sent
shivers Of fear through the minds OF
the consumers, especially across the
water.
As usual, the passing Of rains and
the recession Of the foods brought
forth the fact that injury had not
been as severe as expected, and that II
consisted chiefly of damage to the
grade of the staple. Naturally there
was response to this news, and the
reaction was helped by the fact that
the weather was so favorable else
where, and there was nothing TO
indicate frost.
Week Helps Growth.
The week as a whole has beer
conducive to further production
There has been no doubt Of II In
practically all the central and eastern
belt, and this has brought larger crop
ideas than indicated by the Govern
ment condition report of the previous
week. That document made crop eN-
peCtations around 100000 bales,
taken In connection with what had
gone before, though the average man
hardly had his ideas that low The
Federal figures made a chance for
much profit takin0 by bulls. After
the phenomenal outturn Of two sea-
sons ago, when the October condition
was given as Ill, the disposition was
to expect a similar situation this
year, provided, of course, frost should
be deferred to a late enough date.
The crop estimate Of Hahersham
King was not regarded seriously in
this section OF the belt, his figures OF
1850 600 bales minimum being far
out Of line with average views, even
the rabid bears not daring to predict
more than 100000 bales with a late
due to the fact that II was made pub
lie at a time when the reaction was
on, and thus it afforded an excuse
for q slump that probably would have
come without II.
Field Work Rushed.
The weather has been favora BILE
not only for the late fruiting, but
for picking and ginning, and advices
reaching here have told Of satisfac-
tory progress in both. Receipts have
been large, and the disposition has
been to sell freely, except the better
grades Of white cotton and the staple
and bender varieties. Demand was
fairly good until the contract market
show a tendency to react, buyers
fndin SINNERS not so willing TO place
orders and the September commit
ments having been filled by the close
Of the month
There has been no show Of serious
resistance a s yet to the moderate de-
cline in prices. but urgent selling also
has been absent, indicating the good
position Of producers.
The policy Of the spinners in buving
more conservatiyely Is regarded as
natural, though there still is conf
dence in values around ruling levels
and in the necessities of the consuu-
ers
The large proportion OF lower
grades has become a factor vet no
important REIMBURSEMENT of differences
between them and the better has yet
taken place
The feeling prevails that there must
be a widening Of differences, and that
It viii come soon, though continued
fair weather will tend to lessen its
extent.