Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-21
FUTURES DROP ON
BIC PROFIT SALES
Biggest Spot Brokers Heavy Sell
ers Despite Killing Frost in
the Eastern Belt.

much excitement at the opening OF the
cotton market to-day as there was
Monday, prices dropping to 81 points
under the previous close, due princi-
pally to heavy profit taking Later a
good deal of Mondays advance had dis
appeared.
Naturally there was much selling to
realize after a sudden advance of about
$3.50 a hale in one day This selling
came in the face of reports of light to
heavy killing frost in the eastern belt as
lar south as northern Florida. Never
theless. there was disposition on the
part OF conservative operators to liqui-
date.
After the call the list sold down some
! TO IL points from the initial range.
The selling was met with substantial
buying, some of which came from the
trade. Following this buying a general
buying movement developed. Some of
those who We're early sellers were no.
ticeable on the buying side, resulting in
prices recovering most of the decline.
October advanced to 14.05. but later sold
down to 1897 December. being In less
opening quotations, but held steady
around 1871 January rallied to 1852
but was later depressed to 1882.
Some think the advance of 81 points
Monday was forced and overdone, and
each time the list steadied there was
a fresh outburst of realizing. However
the sudden rise Monday took the
breath away from commission houses
and the bears ana so few had the cour-
age to hook on that general outside
the wide f1uctustions.
The map indicates better conditions
west of the river; also in the eastern
belt But the weather is still unsea =
have. tendency to check what little
bearlsh feeling there is left in the mar
ket for at least few days.
Telegraphic advices from the belt are
unfavorable and the feeling is becom-
ing more friendly to the bull side.
During the afternoon trading the buy
ing was scattered. Some of the spot in
terests, Wall street and commission
houses were principal absorbers. How
ever, bull leaders were aggressive bid
purchase very much and seem to be
awaiting the trend os things Opinions
are very much mixed as to the damage
which Will result from this cold spell
and the market acted quite nervous
Spectators who We're not active sellers
said that the damage by frost Is always
overestimated
On the other hand the more bold con-
tend that he cold spell insures crop
OF under 100000 bales. and the con-
sumption will be far greater than the
production. Many believe that this
frost is severe enough to end all further
growth and maturity of cotton, and will
likely reduce the yield to an extent
where 10 cents viii probably be the
basis of values
A rumor to the effect that the Ma
tional Ginners' placed ginnings to Octo-
Der 10 at 6, $50, 600 bales, which was con-
strued as bearish, brought out further
realizing by longs in the late trading.
At the close the market was steady,
with prices at a net decline of 81 10
20 points from the closing quotations
of Monday.
Following are II a. m. bids in New
York: October, lac; December, 1878;
March. 1850
Following are 10 a. m bids in New
Orleans; October 1888; December,
1874; January, 1874; March. 1855.
Estimated cotton receipts:
Wednesday 1912
Galveston .... 10, 500 to 1850 24.27S
RANGE I'M k,Eu Unry~ r-,,-,,n-o