Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-22
COTTON GOSSIP

The bull element advised their friends
to buy cotton on Tuesdays setback
This they did. Mitchell bought great
deal on the soft spots; so did Waters
further setback Bashford bought about
$4,000 bales and W. p. Brown purchased
probably 10000 bales, Parrott bought
10000 bales of January on the opening
for McFadden. but the latter house were
said to have sold fully 10000 bales, most
of it supposed to be for Craig, and his
selling of October and other positions
had most to do with the disappointing
opening. This heavy buying stripped
the market of contracts and this morn
ing when those who sold Tuesday
wanted some OF the contracts back, they
found the market bare. helping the adj
vance along.
has been shortened by frost, but the
loss will not be as heavy as in some of
the other States.
Sentiment among Gwathmey. Haynes,
Brown and Waters following is very
bullish. but among others it is mixed
to bearish for turn.
''There is not sufficient outside buy
ing to sustain the rallies according
though people want a further reaction
before taking on new lines"
The South has cotton to sell at all
times. Some of the bull leaders be-
lieve that If the South would not offer
her staple so freely, we would see 15c
cotton in the very near future.
Virgins and Schill were leading sell
ers after the call. The principal buying
came from Mitchell, HIGHS, Gwathmey,
Waters and HentZ
The market renewed its upward jour
ney during the forenoon on frost last
night and predictions Of another spell
came from those who sold Tuesday
5. Tate says: Last night 1 saw a
COPY OF message from Cordill to his
mill correspondents in which he de-
scribed the situation in the West as
pra ,tically calamity, oh account of the
large proportion of the crop had been
so damaged that 1t was unspinnable.
Another telegram characterized 40 per
cent of the entire Texas crop as an I'M
speakable mess. 1 strongly favor buy
ing on any easy spots"
New Orleans wires: Spots firm and
middling and above fully Is of cent
lected and cheaper to buy. Offerings
poor; demand runs on better grades"
Clement, Curtis & Co. says: Mail
reports of correspondents in the cotton
belt, which do not include any cold
100000 bales, linters included, which Is
practically around the last Government
report. The percentage Of the crop
picked averages 81 per cent, of which
the Southwest reports 60 per cent and
cost of river, including Arkansas, o. per
cent This suggests an unusually large
ginning to date"
NEW ORLEANS. Oct. 2s.-Hayward
& Clark: The weather map shows
cloudy over the western half of the
belt fair in the eastern half! no precipi-
tation, except at Little Rock, of "a of
an inch: much warmer, no frost, except
In mountains of part of North Carolina,
where killing frost is shown at Raleigh
Indications are for unsettled weather,
with rains over the western and CEN
trail States with prospects for another
cold wave; generally fair in the Allan
tics.
The New Orleans Tirnes-Democrat
says: IAN that the weather bureau
promised In the way of frosts and freez-
ing temperatures east of the Mississippi
river came true Tuesday morning. But
the cotton market, having exhausted
it's steam during Mondays climb, devel
oped reactionary tendency, lost half
of Mondays gain during Tuesdays
u duiIS. ne tDul SO VI the iidl htL Coil-
fused the talent and gave rise to some
mixed theories and opinions as to tho
cause. Bulls called the decline natural
reaction and predicted higher levels to
come. Bears. gaining courage as the
market moved in their direction. claimed
that sudden short-lived killing frosts
and freezing" temperatures. could not
do nearly so much damage to cotton as
several days of killing" frosts and
freezing temperatures.
1.-THE average operator seemed to be-
lieve that killing and freezing" were
arbitrary terms and meant just what
the dictionary said, but the bear crowd
was striving for toehold on a cold
snap and wanted to do all the talking.
However the student of the market,
as a rule. seemed convinced that the
fate of the crop has been sealed by the
temperatures of Monday and Tuesday |
nj the west probably relative
ly little damage has been done. In the
east probably extensive damage has re-
suited. West of the Mississippi river |
much cotton as destroyed by drouth and |
much that remained was damaged by |
later excessive rains Thus the quanti- |
~ af cotton subject 70 danaUa nv FROST |