Atlanta Georgian., 1913-03-07
NEWS AND GOSSIP
OF THE FLEECY STAPLE


ter & Col. NJ. Anderson says: "The
opening of the market was quiet with
transactions light During the first half
hour, however, there was several good
selling orders in the market coming from
brokers' who sometimes represent some
OF the larger interests here. However,
the cotton sold was said to be for specu-
lative account.
Later in the day the selling started
again and at the moment there seems to
be very little cotton wanted. Many OPP
orators about the floor, some of whom are
visitors from the South. at present are
free in expressing the belief that May
contracts will sell at IL cents in a very
snort time unless something unforeseen
happens to prevent. There are very few
bulllSh expressions heard.
Have heard of several good sales of
spot cotton yesterday, but there has been
no news of Importance in this line today"
Howard Wilson bid II. 80 for 10, 900 July.
Raymond Pynchon bought the market on
a scale down. The ring crowd were good
sellers.
Liverpool cables: american forward
ed 1888 bales; total SLABS: American
decrease. 21 600 baes'
Warehouse stocks in New York today,
III, ,263; certiflcated, 1910,
Up to Wednesday there has been 40, 900
bales delivered on March contracts.
These deliveries are the heaviest for any
month vet this year.
The New York Commercial says.
'E. j, Watson, president of the Southern
cotton congress, has sent a warning to
cotton farmers throughout the South not
10 plant record crop of cotton this year,
put try to keep up high stand price for
the staple by planting a certain percent
age of their land in corn and other food
stuffs, This warning is taken as con-
firmation of the growing impression that
record acreage will be put in cotton this
Black and Shearson bought March.
Mitchell sold. Hentz, Wilson, Schill, Rich
and Montgomery bought May Gumoens,
Norden,, Schiley, Wilson Hubbard and
thnn bought July. Henta Watkins,
Gumoens, Virgins, McElroy and Mayes
sold. a. Rothschild and Norden bought
October. Russell sold
After the call McElroy, Hartcorn,
Boyce. Slack and Hooper were leading
buyers. Mayes, Norden, Mitchell, Wat
kins, Hentz, Bashford, Shearson, Wig
gins. Hopkins and Dwight were leading
sellers.
Hooper bought 5000 July from Mitchell,
which was said to be a Liverpool house.
Sentiment continues bearish with the
majority inclined to sell on all hard spots.
There is no evident support from the bull
forces. There was good selling on crop
preparations.
The Journal of Commerce says: 1.-THE
weather in the main was favorable. Field
work is being vigorously pushed Rapid
progress has been made, it is stated. dur
ing the last few weeks in Mississippi
Arkansas and Tennessee, with the soil in
good shape. North Carolina dispatches
stated that more field work has been done
In that state and in other Atlantic states
thus far than was done up to April Is last
year. Augusta, Ca, advices state that
crop preparations are four to six weeks
ahead of last year, adding, however. that
last year they were very backward.
Some adviceS say that, in Georgia field
/ work is fully up to normal.
Fort Worth, Tex, wires: Crop prep
arations hardly up to normal; whole west
Texas very dry. Believe new crop buy
Liverpool cables: Market steady, but
less continental demand"
Following are II a m. bids: March
NEW oRLEANs, March 7.%Hayward &
Clark: Washington weather bureau an
nounced yesterday over Texas and the
western portion of the cotton belt gooC
rains, which put the soil in excellent con-
dition.
Possibly some light precipitation in the
western half of the belt.
Spots neglected. Lower to sell to affec
any business at all.
Consols broke I'd over night; now tn.
| lowest in years
Liverpool cables: American middIint
! fair 7.S7d. good middling 703d, middlinl
6.S1d, low middling 6.63d, good ordinary
6. 29d. ordinary 5.95d."
Official cotton weights at the close oi
FebPgary a7 gs Average belt 52SS agans
52S.S8 Louisiana 52607, against 52710
Alabama 533.51, against 52S.45; Georgia
50744, against 511.12: South Carolina AZ
against 1876; North Carolina 49S, against
400; Virginia 492, against 490; Tennessee
525.17 against 526.17; Memphis 535.97
against 1920.
The New Orleans Times Democrat says
Sober second thought convinced the tai
ent that lower premium for staple
cotton and some easiness in the market
for tinges and stains do not necessarily
constitute an inherently weak spot mar
ket situation and the declining tendency
in the contract market was apparently
arrested at 1915 for May in New Orleans
The weather was good, demand was
limited, and bears were as bearish al
heart as ever. They made much of q
London cable reporting an urgent Ger
man demand for gold, and talked a great
deal about military expansion in botf
France and Germany as a Warlike prep
aration. Bulls, on the other hand, SAID
white cotton, while in only limited de-
mand, is becoming more and more diff
ficuit to obtain, and that to them the
position of the seller of contracts at dis
counts seems more and more untenable
Meanwhile the market continues in rut
Following are 10 a. m. bids: March
l12.17 May 1910, July 1909, october II Al
Estimated receipts for Saturday:
New Orleans 5000 to $500 4,57I
Galveston 900 to 5000 6,12S