Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-08
COTTON GOSSIP

NEW 1Okk, Jan. S.-Tradlng on
and after the call was very light AMI
of a limited character. Gwathmey
sold about 5000 llles of July on he
call. This was The largest transaGr
ton made during the initial trading.
Brooks was next best sellers. Waters
& Schill were the leading buyers.
The statistical position of the sta
pie is strong and the demand on re-
cessions is sufficiently large to hold
prices around the II cent level, but
the bulls show very little disposition
TO start an aggressive campaign at
the moment
The ginners' report, which will be
published tomorrow at 8 a. M, our
time, Is causing hesitancy on the
part of the bull element. The report
is expected to be bearish one.
However, people who have Travelled
through the cotton belt say that the
crop is entirely picked, and there are
we'll posted operators who believe
that the report will show no more
than $50, 600 bales gnned during the
period but the majority of the trade
believe figures for the period will be
around 100000 bales If such is the
case it will show that the government
estimate of the crop of 1857 900 bales
is an underestimate by several hun
dred thousand bales. But if the for
mer opinion muteIialiaes it will make
the governments guess look reason
able and will probably start mills
buying.
Sterrett Tate, of n. L. Carpenter
& Co. says: "13,400,000 bales will be
stand off for the ginners' report to-
morrow. as that is the figure ex-
pected. Anything more than that will
be regarded bearish anything short
of that should be bullish. but do
not think with The present technical
position of the market, that will have
more than a slight temporary effect.
While the market is Il waiting af-
fair now, 1t becomes strongly two
sided market under II cents for
March, and, while | think there is
more liquidation to come out | would
not be enthusiastic to follow the de-
cline much below 12 cents, unless
there are some new developments.
Statistically and on basis of sup
ply and demand cotton is bulliSh, but
there is long interest yet in the
market that has been severely pun
ished by this decline
N IL w olCLEANS, Jan. 6.--l1dy-
wood & Clark. The weather map
shows fair over the entire belt, warm
er over the western states; no pre-
cipitation. Indications are for in
creasing cloudiness, except fair in the
southeastern Quarter of the belt.
Warmer generally and making for
warmer, unsettled rainy weather over
Sunday.
The New Orleans Times Democrat
says: THAT the handspring of con-
structive speculation, at least in the
cotton market, has been broken and
strained, is now the most self evil
dent fact confronting the talent. The
trade and most of the talent believe
the supply from the growth of 1913.
will prove insufficient to meet the
requirement of l9l3-14 but the pros
pect Of smaller net reserves at the
end of the season than last year seems
to exert no influence whatever on
the course of the market, in spite
OF the fact. that in normal times such
a factor, indicating as it does in con-
junction with last years small crop,
return drift toward inadequate sup
ply would figure as a constant in
huence in shaping raw cotton values
Meanwhile, spots hold their own
Win comparative ease. The supply
of quotable cotton in the South is
now said to be smaller than at any
time since the last 10000, 900 bale
crop. As a matter of fact, quotations
for cotton that will class up to the
government standards are fast be-
coming nominal.
Yesterday spot merchants said
that American Standard Middlng
was saleable at a premium of 40
points on New Orleans March con-
tracts, f. o. b. New Orleans
Fort Worth, Tex, says: "A greater
acreage. in corn and less in cotton
for Texas this year is advocated by
the president of the Farmers Union
of Texas, in order to prevent less
Importation of corn and less loss from
weevils
This pest, he says, would surely
follow the heavy rains and mild win
ter Conditions in the large flood
area are such that food and feed sup
plies must be raised first. All needs
for new crops will have to be sup
piled"
The local cotton exchange was
closed to-day, the anniversary of the
Battle of New Orleans"