Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-05
COTTON GOSSIP

The trading on the opening was of a
light character. Cone was probably the
best seller. Wiggin was the leading
buyer on the call After the call the
market was supported by March, Hentz.
Mitchell and Waters, with very little
cotton for sale. General sentiment con-
tinues bearish. however.
1t was rumored that the National
Ginners Association reports ginnings to
November l at S,640000 bales. II the
Census Bureau report is the same 1t
may be very bullish, according to con-
sentative operators.
Journal of Commerce says: at is
pointed out that a good many million
bales have been sold at the highest
prices for years past for the first few
months OF season, and it is contended
that this puts the farmer in a better
position to hold If he sees fit. The cot
ton, however. is being rapidly sold and
think the statistical position shows a
tendency steadily to strengthen. They
also maintain that the very absence OF
the outside public is good thing. be-
cause the market is devoid of the weak
holdings incident to outside speculation,
and that at the same time, there are
now no large concentrated holdings in
the market. They still insist that the
crop is far below the worlds require
ments."
Dallas wires: Texas generally rains
and pleasant. Oklahoma-Steady rain
over entire. State; average temperature
so degrees"
Rainfall: Oklahoma As, Dallas .s2.
Taylor 2S2 San Antonio 10, Corpus
Christi IS, Galveston .5s. Palestine SO.
Del Rio .06, Houston Sc.
Dallas wires: eighty per cent OF the
crop picked in central Georgia Gins
shutting down or running on part time
south Of Macon. Estimates Georgia
crop at 2,225, 600 bales
Several cotton firms in Dallas in
GLIDING one of the largest in the South,
have closed their offices for the season.
Heavy general rains over Texas and Ok
lahoma will do further damage to the
crop and delay picking"
The New Orleans Times-Democrat
says; "As on Saturday, only one
American contract market was open
for business Tuesday and trading was
restricted largely to hedging operations
and to the shifting of position by scalp
ers. The belt was cloudy and rain fell
in Texas. Advices from the Atlantics
tended to confirm early reports of i'm
portant damage done by the frosts ten
Europe. while seemingly not now in
clined to buy very much cotton on this
side, nevertheless, urged no delay In the
completion of old business. Actual
cotton merchants in the South said that
the spot basis on desirable cotton was
stiffening. but that the banks are very
tight.
public to the southwark seems to have
reached a climax, and hostilities be-
tween the United States and Mexico are
anticipated by the markets. But 1t Is
generally believed that Europe enter
tains sufficient respect for the so-called
Monroe Doctrine to prevent outside COM
plica tons, which would mean that inc
United States would merely engage in
big scale. Under such circumstances
the cotton trade, at least believes that
International trade in general would not
be interfered with, and that lrmy re-
quiremeuts would really result in more
trade activity in some directions"
Columbus, Ga. wires: Crop turning
out shorter than expected since freeze.
Picking nearly over. Columbus stock
5000 bales, 5000 less than last year.
But one side to market-bullish. Three
fourths market sold"
S. Tate SAYS: Every condition but
one is bullish, but that one is so power
full that even with the buying that Is
should. / refer to the technical posi-
ton. I believe there is too much weekly
held long cotton, and until this line is
reduced, I do not believe the market
will advance to any great extent or
hold what advance takes place.
ION the other hand. | believe we may
have a good break of 30 to so points.
But | believe in Is cents at no distant
day"
J. B. Turner. Of Memphis. wires:
"Ginnings to November / are as fol-
lows: North Carolina, 386. 900 bales;
South Carolina, 1871 900; Georgia. 1893
900; Alabama, 1,02S. 900; Mississippi,
564 900 Tennessee, 49, 900: Florida, 49,
600; Arkansas, 10000; Louisiana, 1856
900; Oklahoma, $1,000; Texas, 1902, 900;
others, $4,000. Total S,607 900 bales.
Correspondents were asked If any
developments during the past two weeks
had raised their Ideas of the probable
outturn of the crop, Almost unanimous
ly the answer was No Damage from
frost in North Carolina has been heavy,
but elsewhere it was moderate or light"
Austin. Texas: VERY heavy rains
have fallen over this section to-day
Apparently general rain; still raining.
Wherever there is open cotton in the
fields considerable damage will be done.
Not over 10 per cent of crop yet to
pick