Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-22
FUTURES DROP ON
BIG PROFIT SALES
Biggest Spot Brokers Heavy Sell.
ers Despite Killing Frost in
the Eastern Belt.

NEW YORK, Oct. 25.-There was as
much excitement at the opening of the
cotton market to-day as there was
Monday, prices dropping to 81 points
under the previous close, due princi-
pally to heavy profit taking. Later a
good deal of Mondays advance had dis
appeared
Naturally there was much selling to
realize after a sudden advance of about
s2,6 a bale in one day. This selling
came in the face of reports of light TO
heavy killing frost in the eastern belt as
iar south as northern Florida. Never
theless, there was a disposition on the
part OF conservative operators to liQui-
date.
After the call the list sold down some
to IL points from the initial range.
The selling was met with substantial
trade. Following this buying a general
buying movement developed. Some OF
those who were early sellers were no
ticeable on the buying side, resulting in
prices recovering most OF the decline;
October advanced to 1405, but later sold
down to 1891 December. being in less
demand, was unable to pass over the
opening quotations. but held steady
around 1877 January rallied to 1852
but was later depressed to 1892.
Some think the advance of 81 points
Monday was forced and overdone. and
each time the list steadied there was
a fresh outburst of realizing However.
the sudden rise Monday took the
and the bears ana so few had the cour-
age to hook on that general outside
business was rather light, considering
the wide fluctuations.
The map indicates, better conditions
west of the river; also in the eastern
belt But the weather is still unsea-
sonably cold. and this viii probably
have tendency to check what little
bearish feeling there is left in the mar
ket for at least a few days.
Telegraphic advices from the belt are
unfavorable and the feeling is becom-
| ing more friendly to the bull side.
During the afternoon trading the buy
ing was scattered Some of the spot in
terests, Wall street and commission
houses were principal absorbers.. How
ever bull leaders were aggressive bid
ders for large block. but they. did not
purchase very much and seem to be
awaiting the trend OF things. Opinions
are very much mixed as to the damage
which will result from this cold spell
and the market acted quite nervous.
Spectators who were not active sellers
said that the damage by frost is always
overestimated.
On the other hand the more bold con-
tend that he cold spell insures a crop
Of under 14.000,000 bales, and the con-
sumption will be far greater than the
production. Many believe that this
frost is severe enough to end all further
growth and maturity Of cotton, and will
likely reduce the yield to an extent
where Is cents will probably be the
basis of values.
+ A rumor to the effect that the Ma
tional Glnners' placed ginnings to Octo-
Der Is at $3.50 900 bales, which was con-
Strued as bearish, brought out further
realizing by longs in the late trading
At the close the market was steady.
with prices at a net decline Of Il to
rs points from the closing quotations
of Monday.
Following are II a. m. bids in New
York: October, 14c; December. 1878;
March. 1850.
Following are 10 a. m. bids in New
Orleans: October, 1888; December,
1874; January, 1874; March, 1882
Estimated cotton receipts:
Wednesday 1912
Galveston go. rs, 500 to II, 500 24,27S
Arr