Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
Die RECEIPTS
PLEASE BEARS
ANDBULLS,TOO
Heavy Movement Means Huge
Crop or Small, According to
Who Is Arguing,

MEMPHIS, Nov. 8.-Trying to es-
innate the crop has absorbed the at
tention Of the cotton market during
the week The process perhaps has
made some progress, though there
continues to be considerable range in
ideas. The man who expects the final
oUtturn to be below 100000 is just
as confident as ever that he is right,
while the believer in above that
amount claims to see NJ reason for
changing his views. In the large
movement both claim to find enCOur-
agement
The small-crop adheTent says that
the big receipts reflect the free buy
ing by consumers because Of a belief
in the iusufficienCy Of supplies, the
nigh prices ruling being an ample in
CentiVe to the producer to sell even
though later there may be higher
level Of values; that the absence OF
any pressure to sell shows unmistak-
ably that the underlying basis II
strength is entirely healthy.
on the other hand, the believer IN
a crop OF IA, 500, goo or more bales
argues that the producer has a Turk
ing doubt as to the crop being small,
and, realizing the loftiness of values
and the probability Of crops in other
countries than the United States help
ing to make up for the deficiency in
this country's outtrun, has FASTENED
TO sell, lest later he shall have 10
accept lower prices. He argues also
that he bull news has been amply
discounted by the advance above 10
cents, and that estimates Of consump-
ton will have to be shaded later, and
that spinuers have taken freely
enough to date to enable them to
adopt a more conservative policy
henceforth
Ginning Report Helps.
The information as to the amount
ginned to November l has helped ~
clarity the atmosphere TO some eX-
tent, though even that gives rise to
argument, the trouble being in decid-
ing what proportion Of the crop is
represented.
The strength that has character
lied the market during the week has
come, to Il large extent, from the spot
department, though activity therein
has not been so large as during other
weeks Of the sea son. The reaction
from the high level of something over
So a bale in contracts, however, due
in a large measure TO the technical
condition Of the market and to the
fact that many people had bought
contracts regardless of legitimate
conditions failed to cause any stam-
pede among holders Of the actulL
The spnners were quick to see this,
and around the bottom began to alb
sorb offerings. Sellers became more
careful and some rebound followed.
The good business zone in spots in
the Liverpool market and other signs
Of revived interest on the part Of
large spot people caused the future
market to display better tone
Shorts Cover.
Some unfaVoTable weather in the
western part of the belt. heavy and
general rains being reported in part
of Texas and most of Oklahoma,
stimulated some covering by shorts.
while about the same time advicas
favoring the smaller crop estimates
became more numerous. The ia I
that within a few more weeks the
Government viii issue its official es-
innate of the crop and that praci-
cally everyone expects it to be built
ish affords another reason why there
is an undercurrent of firmness that
discourages a disposition to try for
much decline.
Conditions have been more favor
able for picking during he past week
or SO, and progress in that respect has
been satisfactory.