Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-03-15
UNAVOIDABLE
TEXAS SEASON
HELPS PRICES
Lack of Rainfall Threatens Cur
tailed Acreage-Big 1914 Crop
Is Deemed Necessary.

MEMPHIS, March 14-Following
the dip of cotton values last week to
the lowest marks of the season, when
May options in New York touched
11.4S and October in the same market
11.2S, there came some revival of in
terest on the part of trade interests,
the theory being that such prices
were low enough to discount all the
bear arguments. AS a result of this
renewed willingness to buy little,
q rebound came and it was aided by
the covering shorts, who thought 1t
wise to accept some of their pronts.
One thing that contributed to the
recovery was that advices were re-
ceived from some sections of Texas
telling of the new crop start not be-
ing any too good. The lack of rain
fall and the continued cold weather
were the causes of concern, while
other advices said that increased
acreage to cotton would be limited
by the fact that farmers were going
to plant heavily of grain and other
crops. AS the cotton trade looks to
Texas and oklahoma for most of
the gain in acreage, the information
was disconcerting.
"Hdl El9QlVS SuOWs
The official figures on rainfall In
Texas have been attracting some at
tention. During the months of jan
uary and February precipitation av-
eraged 1888 inches, which compares
with 1863 inches for 1918 and nor
NAL of 378. Because of the impor-
lance of winter rainfall in Texas and
the fact that dry winters are usually
followed by moderate crops of cot
ton, the trade has been taking care
full note of the situation, and it has
begun to be feared that late, wet
spring would come and thus acreage
he curtailed. The trade feels that to
avoid extremely high prices during
the coming year there must be a
very large crop, hence the sensitive
ness to anything that holds out a
possibility of interfering.
1t is thought that preparations
elsewhere in the belt are advanced
normally and that more fertilizers will
be used than ever before, while some
little increase in acreage may be
made. That, at least, is the pre-
sumption and it has helped to de-
press prices.
Movement Continues.
The movement has held up re-
markably we'll, and bears have found
much comfort in the fact. Falling off
in receipts has been so irregular that
bears are confident of the crop
reaching a total of 100000 bales.
The final census ginning report, due
March 20, is expected by them to
prove as much. That report will for
the first time separate lint yield from
linters-a thing sought for by the
trade for several years, though linters
will be added in a footnote.
Spots lack snap or activity. Spin
ners continue buying only for actual
requirements, though advices from
practically every direction say that
mills going. The competition from
Indian and Egyptian cotton continues
to be felt, but it is not so keen Elk
ports during the past week were not
so heavy as for the week preceding,
but stocks gradually are being re-
duced. There seems enough unsatis-
fed short interest among the spot
people to provide demand for what
the holders care to sell during the
dull period, and desirable cottons are
reported getting more scarce all the
while.
Good grades are selling at the high
est basis of the season, and even the
lower ones are not draggy
The belief that there will be demand
for every bale of spinnable cotton in
this crop is widespread among the
holders in the belt, and they are Just
biding their time and selling gradu-
ally, trusting to some sort of a crop
scare to bring forward demand for
the less desirable offerings