Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-20
BUSY.
COTTON MARKET.
TO THEIRLIKING
October FIuCtuates Between ll.40
and ll.60-Big Fellow and
Public Not Interested.

NEW ORLEANS, July ia more
hopeful feeling in regard to the defeat
of the Clarke amendment having been
engendered recently by the advices
from Washington, the cotton market
has become more active, with bulls
inclined to bid prices up to higher
levels.
The weekly weather report Tuesday
was rather discouraging to the bear
element. droughty conditions being
reported as prevailing in Texas and
Oklahoma, while rain also was said
to be needed in some portions of the
Atlantics, which was rather surpris-
ing to the trade here, as II was
thought that there had recently been
sufficient rains in the Eastern belt
Some private crop reports received
from that section of the belt within
the last few days also state that the
cotton crop is being damaged by
blight, especially in Alabama.
The market lately has ranged be-
tween 11.40 and 11.60 for October de-
livery. Covering by shorts has check
ed any decline in the nelghborhood Of
l14O, while profit taking by longs,
together with some fresh short sell
ing, has served to prevent the market
advancing much above the level Of
l1.60 for October.
Good Sea- pers' Market.
The result has been a good scalping
market, which professional traders
have taken advantage Of, but the
larger operators and the outside pub
lie, apprehensive as to the Clarke
amendment passing. have. as a rule,
refrained from taking any interest.
Now that a more optimistic feeling
prevails in cotton circles here, inter-
est in the market appears to be re-
viving, and. with a little more en-
enlargement, leading bulls in this
market would not hesitate to put
some ginger into the speculative po-
sition. There is sill a fairly large
short interest in the market, and II
would not require a great deal OF
buving to put the bears on the run.
Prices on the new crop deliveries are
now / cent under those prevailing
a year ago, when, in some respects,
the crop outlook was better than IT Is
to-day.
Boil Weevil Active.
More reports of damage by boil
weevil are coming in, especially from
Texas and Louisiana, where the pest
appears to have gained great head
way. The rains which are needed
now in Texas would lead to greater
Consequently crop prospects in the
Western belt are not encouraging, no
matter from what angle the situation
is viewed
The Census Bureau report on con-
sumption for the month of June
proved to be a very bullish document.
1t proved conclusively that consump-
ton in this country is running on
the basis Of 5,75O,0OO bales, which
would indicate a total consumption,
America and Europe combined, of at
least 14,750.00O bales For this rea-
son, the trade is beginning to realize
that a new crop of at least 100000
bales will be required to keep the
s2indles of the world running ana
maintain reserves above the danger
point next season.
In other words. the situation. as
regards sufiiCiency of supplies or de-
ficiency, hangs in the balance Every
thing depends upon the new crop. and
should it begin to deteriorate there
might be an outburst Of bullish spec
ulation which would put prices back
to a parity with those that prevailed a
year ago at this time