Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-18
Of WHAT
COTTON OUGHT
To COST co UP
Statistics Favor Bulls and Bust
ness Conditions Revive Mar
ket-Spots in Demand.

MEMPHIS, Jan. 17.-Gradual i'm
provement in sentiment as to the
value of cotton has been one Of the
features of the market during the
past week. The last report from the
census department on ginning was a
body blow to most of the beariSh
IDEAS on the size OF the crop. in that
1t showed an almost sensational fall
Ing Off compared with the previous
period and a shortage compared with
the corresponding time during the
previous season. One Of the first re-
suits of this report WIS the return to
favor of the crop estimates that were
! In vogue when bulls had things going
their way. 1t was generally admitted
that the indications We're for the final
crop figures, including everything, to
be within 14,250,000 bales, though
some few people are still hanging on
to the hope that they will be larger.
Inc effect of such a change in opln-
Ion as to the prospective supply was
to stiffen the Ideas Of holders as to
value, to lessen the confidence of the
bear speculative traders and to arouse
spinners from their confident feeling
that raw material would be ample to
fill all requirements The concurrent
increase in optimism as to- business
pros poets in this country and across
| the aWter also worked against the
control of the bears and led to some
buying by traders who have been
holding back The betterment of feel
ing in certain of the industries, the
growing feeling of encouragement as
to the attitude of the administration
and the manifest easing of the money
situation likewise contributed to the
al.
Of cotton.
Actual In Demand.
There was increased inquiry for
the actual, and the lower grades, for
some time past the bugbear of the
bull side, were becoming the object
of more attention. Their proportion
was being lessened and the fear that
they would continue to hang over the
market decreased.
The marked strength shown by the
better grades and their increasing
premiums helped demand for the off
grades and the load was gradually
lightened for the holders.
The Census Department issued an
other report Wednesday that gave
trouble for the bears. 1t was on sup
ply and distribution and consump-
ton for the month Of December.
States there were consumed $4,000
bales, compared with 445 900 for the
same time in 1912, while for the first
four months of the present season
the mills used 10S, 600 bales more than
they did during the same period the
year before. The figures were rather
startling in view of the fact that they
compared with records and so much
had been said about trade reaction
and poor business. Impetus was
given to bullish ideas OF the seasons
consumption, for 1t is generally be-
lieved that the rest of the season
will prove satisfactory.
Another influence helping to some
extent in the firmer feeling has been
the ginning for the first half Of this
month. Nothing is available but pri-
yate reports from some of the gins.
but they indicate a sharp falling off
compared with the same time last
year. Ginning in the Memphis terri
tory for the past two periods has af-
forded a very accurate line on the en-
tire belt, and those who gagged their
ideas on the last Census report by the
returns of the ginners in this district
wer not surprised in the least at the
official figures. Advices received dur
ing the past few days have strength
ened bullish expectations.
Movement Fairly Free.
Movement of the crop continues at
a fairly free rate, yet the stocks are
losing normally and the unsold por-
ton is being reduced satisfactorily.
Spinners have been placing orders
more generally and port receipts, re-
fieCting buying for report, have been
running heavy compared with year
ago. This means that after a few
weeks spinners' takings will likewise
compare favorably. The interior has
been selling freely and the cotton has
been going into strong hands.
The menace OF a record acreage
and a very large crop next fall viii
hardly cause such holders to become
alarmed, as they well know that 1t
will be several months before any
body can get a line on prospects.
Already there is some concern be-
cause of the open weather so far this
winter and its menace of late
spring, while the weevil territories are
wondering how they will fare If
something does happen to kill off a
large proportion of that pest. So far
they have not suffered materially
from the cold weather. The question
of an ample supply OF good planting
seed is also attracting attention in
MANY sections, though il is early for