Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-03-05
NEWS AND GOSSIP
OF THE FLEECY STAPLE

NEW YORK, March IN. l.. Carpen-
ter Il Co: ]. NJ. Anderson says: 1.-The
principal feature of the market today has
been the early buying of March by brok
erS who usually represent spot interests
Later the same brokers supported July
Inc selling has been very much scat
tered Memphis reports good spot de-
mand with best demand for stains" with
some staple; white cotton hard to sell.
stocks in factors hands 900 more than
last year; all territory carrying large
stocks of cotton.
Jack lIartcorn was principal buyer to-
gay and has been a steady buyer of
MaTch all the morning. Later he began
TO buy July. This buying was the prin-
clpal feature of the market, which cotton
Is said to be for Craig. Other leading
buyers We're Mitchell, Wilson and Morr-
son. The selling was rather scattered.
no special aggressive buying The mar
ket continues very steady and loks as if
TINS class of buying may carry it some
hlgher, but at noon prices were around
the opening
Warehouse stocks in New York today,
ll7722; certicated. 19S.5O1.
j. NJ. Anderson says: Sentiment con
tinues bearish. Still there there are some
very conservative operators who believe
We should have an upturn from present
prices. one of the reasons is that tt ere
Is d speculative short interest existing and
spot continues firm with fair demand and
weather conditions not good at moment
However, outside speculation continues
very llght and we may expect narrow
market until further developments in the
lions abroad"
New York Commercial says Sentiment
IN the local trade has veered around to
the bull side"
-, on the call Rothschild bought March;
Schlll, Story and Mitchell sold; Shearson.
Royce, Wilson and HentZ sold Allen,
Hagedorn, Mitchell. Finn and Wilson
bought July. Clifford, Gearing. Beardsley
After. the call Hagedorn. McEneay,
Mitchell. McGhee, Hentz. Clifford, Bash
ford, t1tzgibbon, Riordan were leading
buyers. Mitchell and Riordan possibly
best BUYERS, while Finn, Shearson and
montgomery apparently largest sellers.
Followlng are II a. m. bids: March
l2 IN May Cp 12;0I July 100, October 11.5S
ozark: The weather map very favorable
fair In west: cloudy in central and east
ern states. No precipitation anywhere in
belt only a little mist at Memphis In
dications are for continued partly cloudy
to falr; no rain, except possibly little in
north Arkansas and Tennessee mountains
Liverpool cables; American middling
fair 742d; good middling 7OSd; middling
6.S6d; low middling 66Sd; good ordinary
sad; ordinary 5000.
Switzerland reports that Italy has
making military preparations and in
creasing the army. An important rail-
road passages to France and via Switzer-
land have been heavily mined.
Spots very dull, really lower TO sell If
business wanted
Very little cotton for sale; strict mid
ding selling at 12as cents; stock in this
territory about Is to 20 per cent less
than last year and in good strong hands.
The New Orleans Times Democrat
says: orthodox bears, disappointed
again and again by the failure of the
market to slump to the neighborhood of
10 cents, have learned the lesson of pa
thence. Orthodox bulls whose greatest
asset is spot strength and whose great
est concern Is present scant demand for
the actual have in the main stepped
aside. This leaves the cotton market to
nothing for the ultimate course of values
so long as he can guess the near future
fluctuations.
Under such conditions contract trad
ing often reflects the presence of infu-
ences not at all in evidence in the spot
ment sometimes comes suddenly and
with impelling force, without, however,
necessarily bringing to light any new in
ffuence of wide scope. Yesterday mid
ding spots were quoted at 12nc in New
orleans as against 103sc one year ago.
From this comparison the constitutional
bear leads himself to believe that spots
must drop along wish futures to lower
level, and so he becomes a scalper on the
short side and sells contracts at dis
counts under spots. But when the actual
cotton buyer goes into the open market
to his chagrin that if any concessions are
to be made by anybody he must make
them or go without cotton.
Estimated reecopts for Wednesday:
New Orleans $500 to 1000 5,9S6