Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-18
COTTON GOSSIP

NEW YORK, July III. NJ Ander-
son: The market was firm early on
me Giles report, showing a deteriora-
tIon or IA during the past two weeks.
ana dlt on scattered short covering in July.
CIeFlngs, however, become freer on the
sight advance and the market reacted,
becoming extremely inactive after the
first hour
Traders were disinclined to believe
lhe Giles figures on the popular impress
on IN that the crop has improved since
llls IasI bureau report. We hear of an
0ther shipment Of 1000 bales out Of the
local stock. which will reduce il to 25,-
OOO and this has a tendency to restrict
SAFES and makes the market narrow"
Low temperatures,
The market was narrow. with scarcely
any improvement in general business.
Continued drouth and high tempera-
lures IN Texas and Oklahoma was about
Lhe only argument the bulls had to Of
Ter on the production question yester-
DAY. Now that high temperatures
are eliminated, what are the bulls 60
ing to argue next?
put the market is too small and trade
nut.
Baruch was perhaps the best buyer
Yesterday early but sold some in the
buliiish, supports the market. Peli
brokers bought a little and the Wal
dorf crowd, or what IS left Of it, APP
parently took on a little. Clifford, VIII
SON ,MlcGhee, Black, MeFadden, Rich
Bulls continued to predict higher
prices. based on the small stocks in
New York and the fear Of boil weevil
damage through the western belt.
-, Dallas wires: Texas and Oklahoma,
Estimates that the yield west of the
MISSISSIPPI would exceed that of 1871
day.
Montgomery. Ala, wires: "An our
crop reports are one way-eXCellent.
Weather could not be more favorable
and cotton fruiting fine"
Beaumont, Tex: 1.-THE cotton crop
largest ever raised. So far there has
been no appearance of insect pests, or
other troubles. and the plants are bios
soming, and in some instances setting
bolls."
NEW ORLEANS, July 17.-Haywsrd
& Clark: The weather map shows very
favorable. fair, distinctly cooler in North
Texas, Oklahoma and Western Arkan-
sas, fair over rest OF the belt, except
some cloudiness over the Atlantic Coast
and Central Gulf districts; some showers
in MiEciGEfnpf Florida TpIipa lon q
are for increasing clOudiness in North
Texas, Oklahoma and Arkansas Partly
cloudy to fair over the rest OF the belt,
The New Orleans Times Democrat
says; "Steadiness of the old crop de.
liveries New Orleans July was traded
in at between IL 4S and u. 81 all day
yesterday, as against - 7-16 for mid
ding spOts) and fear entertained by the
talent as TO the possible extent Of the
seasons boil WeeVtl damage inspired
cotton market support, while war ru-
mors from the Far East were used as
an offset. The market being IN the
shadow Of Washington's legislative
talent awaited developments
well within the range Of possibility,
the crop seems to be progressing to-
ward a large yield Whether 1t Is to
be 100000, 100000 or 10000, 900
bales no man can now know. Bulls
are convinced the latter figure is not
attainable, because Of the lateness Of
the start, the spotted character Of some
stands, and the unfavorable weather
in the late spring over a large portion
of the belt. Equally certain are the
bears that the pointer IS for much
larger crop than in l912-1913.
Meanwhile there is far less evidence
Of forward buying by spinners than is
usual at this time of the year Foreign
spinners are being told that hostile
legislation in America viii transfer cot
ton market control to Europe, conse-
quently the foreign trade seems to be
waiting in the expectation that lower
raw cotton prices will rule"