Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-03
COTTON GOSSIP

NEW YORK, Feb. S.--The market
started higher on firm cables and the
tone looked good for a while, but to-
ward TIE end Of the first hour 1t expe-
rienced its customary fainting spell, this
time. on selling by Liverpool and scat
tered offerings OF March by spot houses.
This selling found the market practi-
cally bare of orders until May got to
1898, where there was good demand,
which, however, had only rallied prices
points to noon.
Sentiment is considerably mixed, but
May around IL cents looks to be a fair
price considering the quoted values for
spots" observed J. M. Anderson.
A South, Carolina spot house wired:
Our commitments for February are
heavier than for January: see no signs
OF iet-up in export demand"
Advices from Texas are that farm
es are working overtime in preparing
their lands for spring planting Splen-
did blowing weather Immediately after
heavy rains has greatly facilitated prep
aration of the soil. The acreage, It is
predicted, will be the largest ever
planted.
Holders Of spot cotton in Georgia are
standing pat, according to advices re-
ceived from that State. The Continent
and Liverpool continue TO buy, and the
basis Is constantly working higher.
Upward Of 800, 900 bales OF cotton were
exported during the last week of jan
uary and large amount is on shipbosrd
but not yet cleared. According to The
Chronicles figures, the quantity Of cot
ton on shipboard Friday night was 234,
1854 bales, compared with only 1S3,46
bales at the corresponding date last
year, leaving port stocks actually at
S50.7Ss bales, compared with 675,S67
bales year ago.
NEW ORLEANS. Feb. s.-Hayward a.
Clark: The weather map shows cloudy
over the entire belt: raining In South
Arkansas. Otherwise, no rain.
Houston reports cotton fire at Gin
ton press. with 5000 bales threatened.
The New Orleans Times-Democrat
says; After decline Of about 40
points the cotton market seems to have
paused to await fresh developments in
the spot situation. Most professionals
have believed that the demand for the
actual stuff would collapse with the full
fillment of January contracts. But there
appears to be grave doubt as to the cor
rectness of this view
For example, Moyse & Holmes yes
terday received the subjoined telegram
We have had no trouble selling cotton
at good prices and only to-day we have
large order from Bremen, good all
next week, at the same time increasing
their basis IL American points over what
we have been selling them. Temple re-
ceipts have been very free-in fact,
heavy. 1t is all cotton which has been
delayed in marketing on account Of the
bad roads. and every bale finds ready
sale at the best basis of the season. A
very large Eastern spot house is a heavy
and aggressive buyer, and Is taking
everything, regardless of grade. and at
prices that we find prohibitive The
stocks are fast disappearing out of the
country and the mills will soon find 1t
hard to get the raw material to satisfy
wants. We can not be bearish until
this spot demand slackens and cotton
gets to be drag on the market
1T is, of course. perfectly idle to
dogmatize on such matters, but certain
ly there is no obvious reason to look for
a slump in trade Rather should one ex-
pect a continuance OF the demand,
though continuance of the boom would
be utterly abnormal"