Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-12
COTTON GOSSIP

Sentiment continues bearish and d
disposition to sell on all rallies. The
market opened steady, however, and
futures rallied brislIly through active
buying. by the larger spot houses. Wa
ticeabie on the buying side, while Rior-
dan sold. Offerings We're well alb
sorbed and il soon became evident that
there was no lack of buying orders.
The New York Commercial says; ut
is evident that around 10 cents COTTON
has again entered debatable ground.
SpinnerS who refused to pay Ia cents
two weeks ago are not averse to en-
tering the market 100 points lower, but
sold-out bulls have been waiting for
Just such decline SO as to replace
their lines.
"Of course ginnings to November
we're large, but are not necessarily In
dicatiVe of a large crop. The presump-
ton still is against extreme ideas either
way"
II is runored that Joseph Newburger
is about to issue a crop estimate in the
neighborhood of 100000 bales.
Theodore Price says: 1.-The ginning to
November l seems corroboratve of the
largest crop estimates. The fact that
the figures 50 closely approximate those
of last year. despite the heavy rains
impossible roads and the scarcity of
Mexican labor in Texas this year con
Wnces me that the crop must. be sub
stantially larger than last year
Neill Bros, of London. in their latest
circular estimate the crop at 5000, 900
bales and consumption at 1870, 900
bales.
A Paris, Texas. cotton man says: Il
a nf
4,2500 900 bales with linters. The crop
from Terrell to Paris is not over 80
per cent picked. Every boil Is open and
many fields are white and have never
been picked. In view of the weather
consider the Texas ginning to october
Is very large.
The Texas Government Weather Blu
reau rainfall average for the State of
Texas for the month of October was
4.S5, which is 1.92 greater than normal.
The New Orleans Times Democrat
says Ideal weather for picking and
ginning and the consequent fear that
full ginnings during the period ending
November IA may make a big crop esti-
mate seem less extreme, was probably
the immediate cause of yesterdays cot
ton market decline. Collateral influ-
ences included rumor that promi-
nent spot man would estimate the crop
at 10, 900, 600 bales or more. a rumor that
the interior encountering tight mon
ey, had begun to ConSign cotton to the
ports, and further liquidation by dis
appointed longs who were spurred on to
action by bearishly inclined operators,
who were taking advantage of heavy
movement period during the small spot
demand month of November
IAN along the bears argument against
the market has been that the presence
of weak speculative long interest and
the absence of a large and arbitrary
short interest in spots, stood as a tenn
porary barrier against a bull campaign.
Now the bulls realize that they
erred in believing the market after the
coming Of frost would go on advancing
until a consumption checking price
level should be attained. Meanwhile,
current market fluctuations bear only
a remote, If any relationship, to the
size of the crop or TO the ultimate sup
ply requirement equation.
Estimates of production cover a
range of nearly 1000 900 bales. The
trade, as a rule, is far more inclined
to pin faith to the smaller guesses than
they are to the larger. Probably 30
per cent of the talent believe the crop
is under 14,500O00 bales, and that the
actual consumption is larger than that
figure"