Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-21
FUTURES DROP ON
BIC PROFIT SALES
Biggest Spot Brokers Heavy Sell
ers Despite Killing Frost in
the Eastern Belt.

much excitement at the opening OF the
cotton market to-day as there was
Monday, prices dropping to q points
under the previous close, due princl-
pally to heavy profit taking. Later a
good deal OF Mondays advance had dis
appeared.
Naturally there was much selling to
reailze after sudden advance OF about
81. 90 a bale In one DAY. This selling
came IN the face of reports of light to
neaFy killing frost in the eastern belt as
iaf south as northern Florida. Never
lheless. there was 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
DuNlng, some of which came from the
trade Following This buying a general
buying movement developed. Some of
those who were early sellers We're no
tlceabe ON. The buying side resulting in
prices recovering most Of the decline
october advanced to l4.05, but later sold
down to 1897. December. being in less
demand, was unable to pass over the
opening quotations, but held steady
around 1917 January rallied to 1875
but was later depressed to 1852
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
breath away from commission houses
ana the bears ana so few had the cour-
age 10 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 a tendency to check what little
heaflsh feeling there is left in the mar
ket for at least few days
Telegraphic advices from the belt are
uhfdVoraole 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, bun 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 smell
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 hold con-
tend that he cold spell insures a crop
of under 1900 900 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 10 cents will probably be the
basis Of values
A rumor to the effect that the Ma
tlonai Glnners placed ginnings to Octo-
Der Is at e, $50 600 bales. which was con-
struedS 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 81 to
20 points from the closing quotations
of Monday
Following are II a. M bids in New
York: October, lac; December 1873:
March. 1850.
Following are 10 a. m bids I'm New
Orleans. October. 1888 December.
liza; January. 1874; March 1882
Estimated cotton receipts:
"Wednesday 1912
Galveston ....., lJ,5O0 to 1850 24278
RANGE in NEW VoRyx Enr7,1ee