Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-06-29
ATLANTA SPOTS
PASS 35C;; TALK
NOW OF 40 CTS.
(By Victor Barron)

SOttOh AioAhCI Ililo WGSh, Will Nd!ueS
soaring to new high levels for the
year.
Final prices Friday at New York
showed futures 145 to 167. points
above the previous weeks close, wi lie
the list at New Orleans displayed =
gain Of 116 to 245 points, remote or
tons showing extreme gains.
While the actual at New York and
New Orleans failed to ring the 35-
cent gong, spot cotton here, basis
good middling, as well as throughout
the rural section surged to that level
in fact more than 1000 bales cha ny.
ed hands in Atlanta Friday at 35 l..
cents a pound, thus fulfilling the re-
peated prediction in this column that
the South's chief commodity would
bring such price before the season
was far advanced. And those who
stuck it through the "mili'' were
handsomely rewarded for their pa
tience, courage and confidence.
AS prices began to move upward
and the market bore no signs of flag
glng it seemed as if every one had
been converted into rampant bulls;
even those who recently were bearish,
turned bullish and bought freely. an.
tlcipating materially higher pricas. 1t
was amusing to see how they turned.
And many of them remarked: 81 told
you So" but one month ago most CT
them preached 20-cent cotton.
Nothing Against Market.
There was absolutely nothing
against the market. The delay in the
signing of the peace treaty only pre-
vented heavier trading, as many held
aloof, pending the signature OF the
Hun ENJOYS to the document prepared
at Paris.
Heavy July tenders were absorbed
by Liverpool, other foreign sources
and domestic spot firms. This helped
the tone of the market.
However, the main bullish incentive
was the constant stream of pcss a1is-
tic crop advices from practically ev
cry section of the belt, especially
from Georgia, Mississippi, Arkansas,
Mississippi, Texas and Oklahoma.
In addition to this several extreme.
ly low private condition reports were
issued in advance of the official July
report. Those issued up to the
close of business Friday ranged be-
tween 1872 and 69.5 the figures of
the Southern Products Co. being the
lowest and the Memphis Commercial
Appeals the highest. However, al
were regarded as decidedly b. fish
as most of them gather their data
for their forecasts several days be
fore the government data is con
cluded-June %. This led the trade
to believe that the official figures on
July l will be, within all probability,
even lower than those of private au-
thorities.
1t might not be amiss to state here
that the Southern Products Co.. s fig
ures month ago were exactly the
same as the governments of May
25-75.6.
Acreage Cut Guesses
On the same day the Government
will guess the acreage cultivated in
cotton this season. A private author
ity this week estimated the reduction
at 20 per cent, while another placed
the reduction at IL per cent
The Watkins Bureau placed the
acreage at 34,000,0O0 and estimated
the yield at 100000 bales without
linters
The condition figures will compare
with 1856 a month ago, 85.8 on June
%, 1918, and 80.3 the ten-year av-
erage. The lowest June rs condition
on record was in 1917 when it was
7O.2 per cent. At that though it was
Z above the May rs condition. Very
seldom in the history of the cotton
industry has the condition slumped
during June as compared with the
May rs condition. June has always
been a month of improvement for
cotton. But this year history must
| be revised.
No wonder the trade became ex-
cited and bought contracts as fast as
they came into the ring.
Trade houses and foreign inter
ests were conspicuous among the buy
ers. Wall street and shorts also were
lined up on the buying side.
The rise reached its height Fri
day with July at New York reaching
34.40. October 34.42. December
34.30. January "a cents and March
1887. At these levels the market
stood $50 to 725 points above the re-
cent low levels. recorded June 2, and
1892 to 1,640 points above the sea-
sons low prices recorded January "a.
last. In dollars and cents this rep
resents a net gain of $G4.90 to $50 a
bale, with October showing the ex-
IRENE gain. The recoil at New Or
leans was practically the same as at
New York, July rising to 34.40, Octo-
Der 1898, December 1890, January
1913 and March 1852.
10 Cents Spot Rise