Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-10
COTTON JUMPS ON
BIC MILL TAK|NGS
Heavy Selling Early on Low Ca
bIes-Shorts Cover on Fear of
Bad Weather Over Holidays.

NEW YORK, Oct. 1O.-The local cot
ton market opened easier to-day. with
first prices net unchanged to points
lower, in line with easier cables. The
South, Memphis and Liverpool sold free
~, but there was equally good buying,
attributed to trade interests One bro
ker, until recently close 10 the bull ele-
ment, was credited with selling 10000
January through Hicks and other bro
kers on the call. Commission houses
were again aggressive sellers, said to
be catching stop orders. and there was
nquldation by scattered longs.
After touching a previous low record
for the present movement, a stronger
tone developed. and I'm fifteen minutes
prices had risen points. Later the
market rallied to unchanged to 2 points
over the previous close.
The weather map was again favora-
Bile, with Indications pointing to unset
tied TO cooler weather over the western
half of the belt, with increasing cloud
mess over the eastern States A mod
crate cold wave is looked for over Sun
day in Oklahoma, but not strong enough
for damage.
Shorts were said to be among the
chief supporters and a fair demand for
resting orders was found at present val
ues.
Generally speaking. the trading was
mixed, nobody appearing conspicuous as
buyer or a seller. However, bull
leaders are more hopeful than they have
been for several DAYS, asserting that
the market seems pretty well cleaned
up and a large short interest is exist
Ing and sharp reaction is due The
technical position is stronger, but the
market fails to rally with the snap nee
essary to induce fresh buying for long
account, and unless helped by unfa-
vorable weather an upturn would be
dlnicult to sustain, because every time
the market shows signs Of advancing
unlimited selling orders from strong
sources checks bullish views.
Liquidation was suddenly checked
during the early afternoon by brokers
Identified with the bull side Shorts
were inclined to cover. fearing what
might happen over the HOLIDAYS as the
local weather expert say unfavorable
weather conditions might develop by
saturday. This, coupled with the belief
that the weekend visible statement will
De bulllsh, gave the market a steadier
tone. October rallied to 49, Deem
Der Il. 26. and January 1912. The en-
tire list rose 10 to IS points from the
opening range.
Telegraphic advices from many Sec
uons or the belt stated that spots are
not following the decline of futures
This is strong bull card 1t is also
stated In conservative quarters that the
increase in crop estimates had a great
deal to do with the recent decline-more
so than actual conditions-and these
estimates come mostly from those who
IN previous years have had large crop
Ideas Bull leaders are advising their
friends not TO ride the "toboggan" too
far
Following are II a. m. bids in New
York: October. 1928: December, 1915;
January. 1898; March, 1905
Following are 10 a. m. bids in New
Orleans: October. 1890; December,
80; January. 1921; March, 1929.
Estimated cotton receipts:
Saturday 1912
New Orleans. .... 5000 TO 5000 7.147
Galveston ........15.500 to 1880 29,613