Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-24
COTTON GOSSIP

Liverpool cables: Market affected
favOrabiy by short covering and reports
that the plant is dead over large area
in Texas
Dallas wires: Generally clear; rain
al Amarillo and Clarendon. oklahoma
North and east cloudy and southwest
part partly cloudy
peratures 46 to IS at a. IN.
Brown Drakeford & Co. Liverpool!
cable: Advance caused by reason of
continued bad crop accounts and es-
uecially Texas. Rumor that Neill Bros.
are bullish."
According to the best information re-
ceived in the local market last night
the cotton futures tax will be taken up
this morning; Senator Clarke, Of Ar
kUnSa. and Senator Smith Of Georgia.
who desire to amend it. will appear be-
fore the conferees and present their ar
gI.aent. According to common report in
Washington, Representative Underwood
faVOrS a compromise of the tax. he
would be willing to revrite 1t so as TO
eliminate the harsh features
southern cotton men have been heard
from recently an q it is common knOwl-
edge that they are very much opposed
to the Clarke bill as it appears now, ac-
cording to special dispatch to The
Journal of Commerce.
NEW ORLEANS. Sept. 24.-Hayward
a.
cloudy in Texas and Oklahoma Fair
over rest of the belt; no rain; warmer
in the eastern States. Regular summer
temperatures in the western States. In
dications are for cloudy and scattered
showers over oklahoma. north Texas,
Arkansas and north ouisana, also cooler
there, but not to any injurious extent:
generally fair and warmer in the east
eTn belt.
Texas weather: Mexia Bowie Ar
thur City. Houston, Brentwood, Dallas
Mount Pleasant, Texarkana. Paris.
Clarksville. Nacodoches. Longview. Ma
vesota, Victoria. Palestine, Waco all
Ennis cloudy 20: Cleburne Temple.
cloudy, 81; san Antonio. cloudy. -;
Weatherford and Taylor, Terrell, cloudy
s.; Snyder. part cloudy, 81; Clarendon
North portion. cloudy; part cloudy
south. and west part cloudy 10 clear;
temperatures, Sc to 50: no rain.
NEW ORLEANS. Sept. 24.-smaner
crop estimates and Increasing confidence
in The legislative outcome hclped yes
terlay's cotton market a great deal, bur
the true source Of strength was the
Southern spot stua ton.
Liverpool bought October contracts
in New orleans in some volume. No
where along the line was there any
evidence Of weakness. In Texas the
spot basi- continued to climb. The
strength Of the actual stuff keeps the
talent on the jump A few weeks ago
everybody felt sure spots would vea ken
after the early requirements had been
filed. Now, at the end Of September
spots not only are holding their own.
but are lifting contracts.
This too, il spite or the constantly
made assertion thai spinners have not
bought ahead. Old traders can not fig
ure the thing out Young traders who
are Influenced In their views by time
hCnOred customs. are quite sure the
price structure the bulls are erecting will
soon crumble. But the modern trader
the man who has made close study Of
presented market environment. and Of
The cause for the market evolution that
nas been under way during recent years.
sees things In an entirely different light
He appraises the emancipated farmer at
his true wC%th as a price making fac
tor He realizes that the full force in
behalf OF a broadly competitive market,
Of the system of hedR trading, is only
now being Gelt He knows that the old
time artificial advantages enjoyed by
the consumer and his allies have been
almost wholly eliminated