Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-10
COTTON SCARS ON
bULL|SH CUMMINGS
Figures of l3,333,O74 Surprise
Both EIements-Shorts Strug-
gle for Contracts.

NEW YORK, Jan. 9.-There was a
rush to trade as soon as the Govern
ment figures were posted at the open
ing of the cotton market o-day, re-
sulting in a sharp upturn of Is TO IS
points from the closing quotations of
Thursday. The figures We're unex-
pectedly bullish, being about $1,000
Gales less than generally expected,
causing heavy covering by shorts.
Brokers for the larger spot houses
We're also heavy buyers. This brisk ad-
vance was made in the face of heavy
offerings from Liverpool and several
big Southern ouses
After the call, pandemonium broke
loose !he market was flooded with
buying; orders. Some of the most pow
erful interests in cotton circles were
conspicuous buyers That helped to
keep = the tide turned upward and
throughout the forenoon the trend was
steadily toward higher levels. On the
second advance, January scared to
to 1882 and October to lilo.
These levels represented a net ad-
vance of $3.50 to S1.70 a bale from the
previous close. Not until the market
any signs of tagging. and then prices
sold off a few points from the high,
under profit taking, but the market
maintained the intleXible tone and re-
COVERED lOSl GROUND.
The market continued on its upward
journey. during the afternoon, being
under the same class of buying. Janu-
airy reached 12.17, March 1851. May
l2.41, and July 1886. Trading was
heavy. Wall street and room shorts
were aggressive buyers and there was
a fair volume Of what appeared to be
new buying for ding account. Promi-
nent operators. including one or two
close to the big spot houses, turned
a1N Gil haC COG
believing that to-day's report once more
twisted the ideas OF traders as to the
ultimate yield views have again come
down to between $4,000, 900 and IA 400, 600
bales, including linters.
Just what the size of the crop is in
commercial bales depends. of course,
upon the average weight of bales Last
year the Census put the average weight
at 5O7.9 pounds gross. but 1t is agreed
by conservative authorities that the av-
erage will run lower this year by one
to three pounds, bringing it down to 507
pounds. In the trade the idea appears
to be that an allowance of 100000 bales
for underweight is about right. Deduct
ing that from the Government crop es-
innate of 13,677000 it would leave 49,
$4,000 bales, and an allowance of 600,-
coo bales for linters would be about H.
900 bales, or practically the same as
yield virtually determined by to-day's
report and the crop estimate attention
will be turned to consumption, which
the head of the largest spot exporting
house in the country estimates this sea-
son at 14,500,000 bales.
At the close the market was steady
with prices at net advance of 90 to
"a points from Thursdays final.
Following are IL a. m. bids IL New
York: January, 1908; March, 1913;
May. 1881; July, 1926; October, 1877.
Following are 10 a m. bids in New
Orleans: January, I2.5o; March: y; 81;
May. 1911; July. 1854: October. 11.79.
Estimated cotton receipts:
Saturday. 1913
New Orleans. ...... TO- 500 to II 500 5,194
Galveston .........15,500 to 10000 9,72S