Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-09-06
WORTH Of GEORGIA
CROP S68,0O0,0O0
At PRESENT FIGURE
Potential Yield Has Gained
S24,OO0,0OO in Value
Since Planting Staple
Here Goes to II Cents.
BY ESTES DoREMUs

Georgia's cotton crop, estimated
at $4,000 bales on the basis of the
governments condition report of Al
per cent of normal as of August 25,
and figured at II cents pound, the
last quotation issued here, is worth
S24,000.000 more today than when
the crop was planted.
At the time the seed went into
she ground cotton prices were ruiz
ing around IL cents, which would
have made the valuation $4,000 600
on the same number of bales. Fig.
ured at II cents per pound an aver
age bale of 500 pounds, the yield to-
day is worth $6S,000,O00. Similarly
the value of the entire southern crop
at present prices is $685., 000,O 900.
1t was said a week ago that King
Cotton was coming into his own
again. The assertion was based on
opinions of experts in the cotton
trade, who were agreed that 1922
would be bull years for the staple.
In tie past week cotton has come
into it's own, and with the sensa-
tional rise in price, brought about
by an unprecedented condition report
of 49.3 per cent, business in general
has become more optimistic than at
any time since the reaction from
the depression set in. 1t has put
new life in business.
Business, big and little, has felt
the effect of the advance, and from
all quarters come reports of in
creased trade and a decidedly more
hopeful view of the future orders
are Touring in to Atlanta wholesale
houses and collections are expected
to keep pace once the movement Of
the raw material gets under way.
t.--..ss.,-. Reason for Advance
The advances of the cotton market,
while spectacular on the publication
OF the August and July condition re-
ports, has maintained an even and
gradual scale for the past two weeks
and from day to day new highs have
been recorded, the Top being reached
Friday on the close, in the face Of
three-day holiday over Labor Day.
Cotton men of long experience mar
yelled at the strength of the market
under such conditions and were
agreed that it could be brought about
only by actual crop conditions, and
not through sentiment or temporary
causes. There are concrete reasons
for the advance in the shortage Of
the crop, the last conditions report
cutting down the potential yield Of
the south 1,166,000 bales from that
or a month previous. The latest yield
estimate is fixed at 100000 bales.
In the opinion or cotton dealers,
bull market, with only such recess.
sions as always come at isolated pc
RODS of profit-taking. Breaks ara
to be expected, but the general ten
dency of the market will be upward,
or strong around top figures Such
Is the belief of experts and as an
evidence of their contention, they
call attention to the Hotpoint break
of last Wednesday, which was halted
by long interests, and at the close
reduced to rs points. The next day
saw an advance of $50 points, car
rylng the active months Is points
above quotations preceding the
break.
Spots UP $50 A Bale
1t is the strong undertone Of the
market coupled with the advance in
the price of cotton in the south
that is stimulating business mors
than any other factor at present.
for II means that Georgia is worth
$z4,O0O,OOO more today than six
The actual advance of spot cot..
ton here since March is six cents
or $50 bale, and the advance since
Saturday a week ago is 24O points,
that must rule through Tuesday,
the average bale of cotton is worth
$S5.
In the week just ending both
spot cotton and future. contracts
have made new high records for
hn Unit oil
New York cotton exchange selling
at 18 cents or higher. October con-
tracts, which opened Monday at
15.40. are up $50 points, or $13 a
bale Atlanta spots at II cents. are
November. December futures made
their high mark at 1890, January
at 1927, March at 1880, May at
1856 and July at 1858. The net
gain for Friday alone vas around
1926 bale over the closing figures
of Thursday.
been as meteoric as those of fu-
lures. Fifty-point jumps have been
the order. The biggest bulge, 115-
points, however, came Thursday
next largest came Friday with rs
points The Atlanta market lost
only 40 points on the break We'd
nesday.
The Friday closing found New
York spots up 65 points at 1915
and New Orleans spots up SO points
at II cents, the same as Atlanta
Optimistic Opinions
Atlarta business men were free in
expressing their opinions on the
beneficial result of the rise in the
price of cotton.
F. X Rambo, of John Silvey e
Co., declared that their business had
licked up materially on the strength
Of good price for the staple and
Tat orders were coming in from all
sections.
Mr.. Rambo said: "The advance in
the cotton market has caused the
mills to Withdraw their prices, and
they now are figuring on what new
crices they will have to make. 1t
has had the effect of putting action
INTO business"
G.. J. Sullivan, of the NJ. G. kiser
"The rise of the cotton
market has ut better feeling into
They are beginning to o..
buy"
Walter A. Brewer, of the Brewer
Candy company: Even the candy
business is stimulated by the cot
on market activity. With cotton
going up there is a general feeling
IF prosperity everywhere, and sales
men in al! lines find little difficulty
in placing orders"
James J. Ragan, of the Ragan-Ma-
Ir.-G.uoz -. n.o. r,oiuuu Az