Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-02-10
NEWS AND GOSSIP
OF. THE FLEECY STAPLE

NEW YORK. Feb. 10.-N. l.. Carpenter
& Co: Mr.. S. Tate says: THE general
condition of the market continues good
Bearish arguments, which have been
founded on an unknown condition for the
new crop, should not be regarded. Gables
and letter advices from continental Eu-
rope and Great Britain are most encour-
aging. There is nothing to refute state
ments that the consumption of American
cotton for the season will far exceed the
production, therefore, 1t seems natural
and good business judgment for manu-
facturers to make sure of their require
mentS.
II look for decidedly higher prices, but
it should be remembered that this is a
very narrow market, volume of business
Is small and any heavy selling due to liz
uldation will cause natural and good reac-
tons, but the tendency of prices, | be-
lieVe, will be upward for some time to
come, and l favor working on the long
side"
Riordan was a good buyer today. Bull
leaders advising friends to buy now.
Market very steady and very little cotton
for sale, only scattered profit taking.
On February 10, the New Orleans, Liv
erpool and London exchanges will remain
open for usual business The New York
cotton exchange and the Chicago board
of trade will be closed on account of Lin
coins birthday
Some of the ring crowd were good sell
ers today, but the leading bulls continued
to buy Gwathmey bid 1889 for 5000
May.
Demand very good today; very little for
sale ring. playing for reaction; bulls con-
unue 10 buy and expect no reaction of
consequence
The leading bulls were right in the
midst of the buying movement today;
they seem confident of their position.
Today for the first time in many days
have the bears shown nervousness
The market looked higher at the outset
and the large spot firms did not lose any
time in rendering their support.
New York Commercial says: Most
people are really waiting for something
Every day last week Liverpool reported
higher cables than due, and it started
this week off the same way. Higher
cables were based upon the big business
doing in Manchester
The trade Is wondering now whether or
not there will be a squeeze in March
option.
New York Commercial says: Should
consumption of cotton continue at the
pace maintained so far this season, there
VIII be no cotton carried over into the
next crop year"
Spots shows no disposition to yield on
either side.
The leading bears are inclined to be
leVe that the tariff changes will not only
AFFECT the cotton trade directly, but 1t will
upset general business by reductions on
other manufactures that consumption of
cotton will fall off.
Following are Ii a. m. bids: March,
l2.55; May, 1910; July, 1894; October,
NEW ORLEANS, Feb 10.-Hayward &
Clark: The weather map shows cloudy
over entire belt except fair in south Geor-
gia and Florida General precipitation in
western half of the belt but mostly very
half of belt. Indications are for partly
cloudy to fair; probably some rain In
south Texas and central Texas.
Forecast for week: Except for local
rains in west Gulf states Monday. weather
with normal winter temperatures until the
come unsettled with rains.
Weather over Sunday was very favor
able. Very little precipitation. Weather
now seems good for farm operations for
quite while with exception of some To-
calities good progress has been made
Export statistics promise quite unfaVor-
able for this week So far for the two
days exports are already about $4,000
bales less than last year.
Average weight OF bales for the first
five months of the season to January 81,
| is 525. 80 pounds this season, against 5l9 58
pounds last year.
Spots are reported quiet, but owing to
higher futures. lis to 1-Sc higher TO buy;
only small scattered demand.
Following are 10 a. m. bids: March, l2.62;
May, 1857; July, 1851; October, Hts
Estimated receipts for Tuesday:
New Orleans ..... $500 to 5000 1855
Galveston ..........1 1880 to 1880 22,O50