The weekly Georgian. (Atlanta, Ga.) 1913-19??, April 28, 1914, Image 10
~i\-/i;;'l(et Quotations For .chl: Encling April 28. 191_4 | - REVIEW TON MAR 1 \ OF COTTO Girowing seriousness of the United States-Mexican situation, - unfavor able weather reports and covering by July shorts were the influencing factors in the cotton market the past week. War wtih Mexico is a very bullish fac tor, because it is a well-known fact that it would curtail labor and it is more than likely that a large army will have to be provided with clothes. In ad dition to this, advices from well-posted traveling men, representing some of the largest cotton houses in the world, have sent in very unfavorable crop reports, especially from Texas, stating that the crop in that section was on the average of two to three weeks late and in other parts of the cotton belt, until recently temperatures have been too low and rains have been too fre quent. However, weather conditions have moderated considerably and farm ers are taking advantage of it and are rushing field work. The covering of July shorts during the week was the principal source of business. This option had been oversold against purchases of May and when the July shorts tried to replace these lines, there were very few people who desired to part with the midsummer option and the result was an advance on the entire list. May also came in for a good steady demand by the lead ing spot interests and at times the demand for this option was aggressive. The buying of the option was attributed chiefly to commission houses and spot interests, mainly the large Philadelphia houses. This class of buying frightened shorts, who lost no time in covering. On the advance May touched 12.74, while July reached 12.62, and October 11.74. The above levels were recorded last Friday, when July shorts were ac tive buyers. At these levels, however, the market encountered considerable of. ferings from the ring and commission houses, based on reports from F. M. Cordill as to the condition of the Texas crop. Their offerings were readily taken, and it looked as if the whole list would close at the day’s high point, but offerings increased along toward the close, due to a bearish week-end statement, showing that spinners’ takings for the week were only *215,000 bales, against 220,000 bales during the corresponding week last year. These figures were less than generally expected by several thousand bales. This caused a sharp break from the high point, May dropping to 12.60, while July broke to 12.51 and October 11.65. The reactionary tendency was short lived, however, as the market open e¢d steady Saturday, based on buying orders for spinners, coupled with a scarcity of the commodity. This forced the list several points higher than Friday's close, but the market lacked real true bull support and there was a scarcity of speeulative buying power and liquidation of May and July, es pecially May, resulting in the list weakening, but the market closed with only a few points decline, the tone remaining steady. Representatives of Liverpool houses cable that English spinners are in the market for low-grade cotton for the first time in years and that much Egyptian cotton has been hedged in that market which must be covered. Technically, the old crop situation remains a puzzle, but the talent seems inclined to be friendly to the constructive side just at present. However, one moment the selling side is favored on reports that the cotton coming on the New Yotk market for tender on May is of auality that is assured of passing the vigilant eyes of the inspector, while the next bears are alarmed by rumors that large quantities of the staple will be taken up when tendered. In comservative quarters the advice is to refrain from trading in either May or July. But it looks as if the short interest in May has been pretty well eliminated. The stock arriving in New York from Texas is said to be consigned to McFadden, probably for tender on May, in addition to the bulk of 86,000 bales of certificated stock there. Tuesday is the first no tice day on May contracts, and it is generally believed that tenders wiil not be heavy, and what there are will be taken up by the larger spot houses. The weather conditions are mainly unsettled. Advices f{rom the west ern beit tell of too much moisture, small percentage planted and troops or ganizing to go to Mexico, while, on the other hand, wires tell of not emough rains in different sections, but planting is well under way and the outlook for a “bumper’ crop is excellent. Such reports keep the most radical opera tor on his tiptoes, trying to solve the problem, whether to buy new crop po sition and sell the old crops, or whether to sell new crops and buy old crop options. But if current reports are to be taken as accurate, it is wise to buy both old and new positions. (able and Southern advices report continued de mand for the old crops at prevailing quotations, as well as reporting a steady accumulation of low grades at only small concessions from the top price of high grades. In addition to this, crop reporters state that the crop is going to be a late one and a difficult one to raise, owing to the Mexican crisis, which will surely abate labor, causing slow preparations after the plant is up, as well as slow marketing of the staple. All in all, the majority seems to favor higher prices, especially afier May notices are out of the way. ©On the other hand, trade conditions have not been of the best character of late, but authorities believe that war will stimulate business, and look for an improvement in the demand for the manufactured article. However, cur rent business in wholesale dry goods lines is at present a very accurate measure of consumption demand throughout the country and retail merchan dise managers continue to insist on more -frequent purchases and small well-assorted stocks. The continued high and firm prices for raw cotton and wool furnish no foundation for anticipation of lower prices on finished mer chandise at a late date, says Marshall Field & Company, in their weekly re vicw of the dry goods trade. At this writing, prices are steasly, with the trade inclined to go slow in either element, owing to the many uncertainties, which can bull or break the market on a moment’'s notice, TUESDAY’'S REVIEW, NEW YORK, April 28.—A steady tone prevailed in the coton market at the opening to-day, first prices ranging from net unchanged to 4 points higher than Monday's final. There were reports of heavy rains form the western half of the cotton belt and after the call the tone strengthened and prices advanced for a net gain of 2 to 5 points from the fnitial range. ldverpool cables were steady, which also contributed strength to the market. - About 40,000 notices were issued, mostly by McFadden. Spot brokers were good buyers of May and it was thought that the same people that is smed the notices were re-bnying them. There was a good demand for old crop options and offerings were very light arnd scattered. New crops Were also purchased freely on unravorable weath er news in the belt. The market ruled very steady during the first 30 minutes, but after that there was a noticeable improvement in offer fnzs. especially of old crops and in the absence of buying power bears were encouraged to sell particularly because May developed unexpected weakness and the bears hammered, causing a rapid decline of 12 to 17 points in oid crops during the early forenoon. On the break May touched 12.48, while July yeached 12.41 and August 1228 New crops held firm. Ul was thought that some long lines in July were sold out and many traders went short in that op tion, probably on the improved Mexican situation It was aid that some of the notices were stopped by Southern mills. Trad fng, as a whole, was confined mostly to ewitching, buying May and selling July and semnt“.!uly and buying new crop :osmonn, t considerable Wall street quidation of July was apparent and summer options in consequence were relatively weak. October and December were in active demand, both on strad @ and on bad weather in Texas, where crop preparations are late. This pro moted a wave of scattered short oover- E. which J‘orod the list wul‘l‘t%m a fp& mts of e opening Qquo on, wi exception of July, which remained around the early low level At the close the market was steady, with prices showing irregularity, wfl 21 up to 13 points lower than the f guotations of Monday. NEW ORLBANS, April 28 —Liverpool was guiet and steady te-day, awailt THE GEORGIAN’S NEWS BRIEFS ing developments in New York with May tenders. Spot sales continue large, total 12,000 bales, showing a contimred good business in Manchester. Manchester cabled: *‘Continued large business cloths in India.” About 40,000 notices were tendered in New York against May. The first ef fect was the elimination by liquidation of the smailer outside longs, with the normal resuit of some depression in the market. Neolices were only partly stopped by \’%‘”t interests and bear pres sure from Wall Street, based on the ex pectation there of clearing weather, which helped to push the decline. After the elimination of the trailing inter e=is 1s accomplished, the bullish supply situation for the remainder of this sea son is bound to again command the market. Detailed Government records show a very heavy rainfall in East Tex as, lLouisiana and Arkansas. PORT RECEIPTS. The following table snows receipts at the ports te-day compared with the same day last year: s L WL TR New Orleans. . . 6,803 | 4,382 Galveston. . . . . 3,739 5,455 NMoblle. =.O 2,684 * 89 Savanpah. . . . . 3,018 2,795 Charleston. . . . . 15 726 Wilmington . . . 399 64 Nlk >0 445 1,529 BOEIR ... kit 205 Total . . v A 1 1 15,948 INTERIOR MOVEMENT. | 1914 | 1913 Houston. ... .| 2,289 | 2,659 Augusta. . . . 14l -] 184 Memphis. . . . . 1,347 918 St. Louis. . . . . 567 499 Cincinpati. . . . 238 429 Little Rock . . .J..e.caen.. 278 e . EMe ] AW ‘ e A . i —— } COTTON SEED OiL. __Cotton seed oil guotations: ‘ | Opening. | Closing. WO ;i . v sgrsany TAR NS AP co. v ob weliiiensizns - TOFT.OO MAY.. i .. .. o.] 1.2007.21 | 1.22@7.23 June .. .., .. .- 7.492@7.% | 1.4407.48 July .. .. . ..] 1.53@7.54 | 1.55@7.56 R .. e sd X .66 | 7.66@7.67 September . ..] 7.62@7.66 | 7.66@7.70 Oc'ob-;...r oo ast ¥ }.B. 1.29 1.3“2 Noyem o o) GSOQT. 6.80@7. ‘ rm; 15,700 barrels. * NEW YORK. Wednesday, April 22, Spot cotton; middling 1310. I *Ms’\i’ g I"E‘ olk i 5 |&o Al .‘...1.....;.....nnc-u;xz.sf-'zo My [12.65/12.67/12.5312.66/12.66-67/12 52-53 Jo (...l [l ]12.68-89112.61-53 Jy 1:.43412‘59‘12.43.13.u;u.u-ss}u.n-u Ag [12.16]12.38]12.16/12.38(12.37-38/12.13-15 Sp (11.86/11.88/11.8611.88/11.89-90/11.73-75 | Oc |11.65/11.76/11.64/11.75!11.75-76/11.61-62 De (1160{1174/11.60(11.7:/11.73-T4/11.58-5 Jn [1155/11.66/11.55/11.66/11.67-68/11.52-53 Mh [11.56/11.66/11.56/11.70/11.72-T411.55-57 Closed firm. Thursday, April 23, Spot cotton: middling 13.10. §| 5| ilzs| &| :F o ] Jjde] © a 0 | Ap ‘A.‘..{A....5.‘_..;...A,uz.n-sz,lz.vs-ss? My 112.70/12.77/12.69(12.7212.71-72{12.66-67 Jo fiivedievnidinesd...:.|l2.66-68{12.68-60 4 Jly 112,60 12 68;12.54!12.56‘.12.54-56’12.58-59 ; Ag [12.36(12.47/13.34/12.36/12.35-36{12.37-38 Sp {ll.BO/11.80/11.80{11.80/11.81-83{11.89-90 | Oc i 11.75 11,80 11.67/11.69/11.68-69{11.75-76 Dec [11.72(11.77/11.64/11.6711.67-68/11.72-74 Mh {ll7 ‘11.7_‘7111.:7'1\.7‘ 1.69-70/11.72-78 Closed steady. | . — —————————n————— | Friday, April 24. | Spot cotton; middling 13.10. s i | o ; 3 < p o, }xlfil’\iih ILo“E ' o dEld L dal B | BE | ED Toooviliioselssioilss o [12.60-70]12.71-83 My [12:71112.74/12.60{12.60/12.60-61]12.71-72 Je }‘....'.4...-‘,..,.J.“‘,12,65-58‘12.65-68‘ Ny [12.54/12.62/12.51/12.52{12.51-52!12.54-56 | Ag (12.37(12.43,12.31/12.32(12.32-34/12.35-36 Sp Lood U L TE-ae Lel »831 Oc (11.67/11.74/11.65/11.65/11.65-66{11.68-69 | De 111.67511.73311.64j11.64!11.54-65;11.67-68‘ Jn {11.65116811.61/11.61(11.59-60/11.67-68 Mh [{11.71{11.7311.71/11.73(11.65-6711.69-70 Closed barely steady. | Saturdady. April 25, | Spot cotton; middling 13.10. i ; | o . 1 . & : lilf‘l'i‘l 5 “* * S Ei3 N 8§ 186 AP | vv10e.0i1.....]12.65]12.56-65/12.60-70 My (12.65/12.60/12.53/12.55(12.54-55.12.60-61 Je ‘.‘...;.....(.....1u...n.00-ozuz.ss-s& Jly |12.52/1256'12.47/12.49/12.48-4912.51-52 Ag (12.35/12.37/12.3012.31(12.20-31/12.32-34 BLo ...A.t..,..1u.n-fi‘u."'s-sol Oc |11.68/11.71'11.64!11.64/11.64-6511.65-66 De 11.“!11.10&11.68111.64 11.64-65/11.64-65 Jn |11.62/11.65/11.58/11:59/11.58-60 11.59-60 Mh [11.68'11.69/11.68/11.68/11.67-68/11.65-67 Monday, April 27. Spot cotton; middling 13.10. i - . 3| A O £ Ap ‘ .....1....'.1.....|12.60-65‘12.55~65 My 11260/12.68/12.56/12.00(12.60-61 12.54-55 Je |13.66/12.68(12.66 1!.00‘1?,.64—66!12 00-03 Jly Ixz.ss,m.eo,xz.ss 12.00112.58-59/12.48-49 Ag ;lu.ss;m.w;u.s 112.0012.41-43/12.30-31 Sp ‘ 1.84/11.84(11.84/11.00/11.86-8811.77:79 Oc 11472;11.78{11.71‘11‘00 11.72-74/11.64-65 De [117211.78/11.71/11.0011.73 [11.64-65 Jn 1ua5:u.n‘u.64,11.00,11.53-69;11.5:-60 Mh [11.75/11.81{11.75/11.00{11.77-79]{11.67-68 3 Tuesday, April 28. Spot conon;”middliig*lii.lo. i ol & L& Sdi B &5 S e 65 My ‘12.60;12‘6”12.48‘1: 63 12.62-64/12.60-61 Jo L) U 12.67-6812.64-66 Jy 195612611241 /12.47/12.45-46/12.58-59 Au [l2/43/12.45(12.27(12.37112.30-31/12.41-43 Sp !n‘ss;n.so;u.sml.ss|‘n.u-ssm‘ss-sx; De {11.7411.78/11.70/11.72{11.71-72111.78-74 De (1174 1179{11.81/11.71 11.71-72/11.78-7¢ Ja {11.72111.72011.66{11.67]........111.68-69 Me (11.7711L.7911.9811L.79).. .. ... . ILT7-T9 ] SPOT COTTON MARKET. Atlanta, steady; middling 13%. Aihens, steady; middling 13%. Macon, steaay; middling 12%. New York, guiet; middling 2.10. New Orleans, quiet; middling 13%. Boston, quiet; middling 13.10. Liverpool, steady; middiing 7.35 d. Savannah, steady, middling 13%. Augusta, steady; middling 13%. Charlesion, steady; midding 13%. Norfolk. firm; middling 13% Galveston, steady; middling 13 1-16. Mobile, firm; middling 12 11-16. Litte Rock; quiet; middling i3e. Baltimore, nominal; middling 12%. Bst. Louls, quiet; middiing 13%. Mamphis, steady; middling 13%. Houston, steady; middling 12%. ‘ Louisvifle, firmu: middling 13%. Dallas, steady; middling 11 15-16. NEW YORK COFFEE MARKET. Coffee quotations: { Opening. | Closing. JADUATY. « o o | o-eca.-. | 9.05@ 9.07 Februaty. . . jWiIN DS Maveh: .. . IAW [ 919@ 9.20 MRy, . .. LA | 8.41@ 8.43 e & . Lo abaantiil r RN S 8 I i vt 8.55! 8.59@ 8.61 Augal . L N ST September. . . } 8.73 | 8.76@ 8.7 October . . . .| 883 | 8.83@ 885 November. '+ . .| ......... | 8.91@ 893 December, . . .| §.99 | 899@ 9.01 Closed firm. Sales, 30,000 bags. LIVE STOCK MARKET. CHICAGO, April 28.—-Hogs—Receipts 12.000. Market 15¢ lower. Mixed and butchers, $8.35@8.70; good heavy, $8.50 @8 65: rough heavy, $8.25@8.45; light, $3.35@8.70; pigs. $6.50@8.40; bulk, si.;o @8.65 Cattle—Receipts 3,000, Market steady. Beeves, $7.25@7.40; cows and heifers, $3.75@8.30; stockers and feeders, $6.50@ g._.:é Texans, $7.00@8.50; calves, $7.50@ Sheep—Receipts 28,000, Market steady. Native and Western, $4.50@ 6.50: lambs, $5.75@8.30. ST. LOUIS, April 28 —Cattie—Re ceipts 2,600, including 300 Texans. Mar ket steady. Native beef steers, $7.50@ 045: cows and heifers. $4.25@8.75; stockers and feeders, $5.00@8.00, calves, 36.00@10.50; Texas steers, $5.75@8.10; cows and heifers, $4.50@6.65. Hogs—Receipts 11,500. Market, 5¢ to 10c lower. Mixed, $8.60@3.70; good, $B.OO @8.65; roufh $8.00@8.25; llfhu‘ 8.55@ 3.65; pigs, $7.00@8.25; bulk, $8.55@8.65. mep—neeelfi 300, Market steady. Mutton, $5.75@6.50; = yearlings, $5.756 7.25; lambs, $7.00@8.25, sheered lambs, $6.00@7.00; spring lambs, $8.50@9.90. NEW ORLEANS. Wednesday, April 22 _ Spot_cotton; middling 13%. ______ I§|s| |3| 5 ’2 =3 3 0 AP L e b g aiiitd My [12.7212.83/12.70/12.83/12.82-83|12.69-70 Je ;,.......,,J.....|‘...<!1z.50-saxz.u-u Jly ‘12.69;12.80112.‘18!12.79112.18-79|12.“-“ A (12.42(12.52/12.49/12.52(12.49-51]12.35-37 Sp |...H1.....{.....}‘...,iu.93_ {lllB. Oc |11.67/11.79111.67)11.78]11.77-78/11.65-66 NV Loroiilei oo obesils s v 117878111 GR=O% De n4631\1.76‘11,63111.75;11.75’_'{6 11.62-63 B [ 1176101 730 76/11 75276 116864 “Closed firm. e SR Thunda({, April 23. Spot cotton; middling 13 1-16. 02l el 8 > § 21 it IBt 2 E! g 1 Xia 138 .0 a 0 e R e A e L My |12.80/12.80{12.74/12.79/12.78-79|12.82-83 30 div i s oclies slB TT79{ 12008 Ty [12.78/12.85]12.73/12.76112.76-77.12|78-79 Ag |1%.54/12.58/12.64(12.56/12.62 |12.49-51 Sp 4....'..4.,|....,!.....114"'2-?'3‘11.92 Oc |11.76/11.83;11.69/11.73/11.72-73/11.77-78 MY bl ia) e i LER(IIENEE DPe [11.74/11.80{11.74/11.75/11.69-71/11.75-76 Jn_lll.Bo/11.80{11.67{11.67/11.67-68/12. 75-76 " Closed steady. J;fid'ay, April 24, Spot cotton; middling 131-16.. i ; : ¢ @ : 018 1l aldal © 56 5 1. ol et AN My (12.75(12.89/12.76/12.81{12.81 [12.78-79 Jly {12.76/12.84/12.70/12.70/12.50-71 [12.97-78 AZ (12.53112.56{12.50(12.50/12.42-45/12.53 rE eO B BRI VT LR Oc |TLS4/11.77/11.66711.67|11.66-67|11,72-73 De [11.74{11.74/11.64/11.64/11.62-63/11.69-71 Jn [11.7111.72/11.76/11.72(11.63-64(11.67-68 Mh |11.76{11.76111.73]11.73{11.72-73}...... .. "~ Ciosed steady. | Saturday, April 25. i Spot cotton; middling 13 1-16. a 1 . i @ &y . @ ]x\%lE'h' g ls-" o -0 o 3 AD 1.l sl ol (IRTE 12.77 My ‘12.89‘1z.89‘12.8«12487!12.86»87 12.81 Je \[1127830 Jy 112.76/12.71112.70 12.7:‘13.72-73.12.70-71 AR 1 de bl st Il S I R RT T T Oc |11.70]11.73/11.65,11.67/11.67-68/11.66-67 De 1167 11.69411.63}11.64 11.64—65[11.6:-63 Jn ,11.69'11.69 11.69(11.69(11.65-66/11.63-64 Mb 1173/11.78{11.72{11.72{11.72-73{11.72-73 Monday, April 27. Spot cotton; middling 13 1-16. : ; @ : lilf'ME% : 125 ol m 3 134 o o Ap u....1.....f..‘.......]12.85 12.76 My ilz.n'lz.w 12.91/12.97(12.96-97/12.86-87 Je ~...1.....‘..........;12‘87’9012.73-80 Jly 112.79112.86/12.79/12.82]12 82-831272-73 Az |12.51/12.564{12.51[12.54 12.53-55112.47 8D 1 i o] IHL SN Oc ’11.74 IL.T(ILT4LTT 11.76-77/11.67-68 NV {oooeivedisnai]en 0:]11.74-76111-84-65 De [11.73 11.75111.73}11.74 11.73-74{11.65-67 Jn 11.7511.76/11.73/11.75/11.74-75/11.65-66 Tuesdaly. April 28. __Spot cotton; middling 13 1-16. ::9 - @ l s\‘-‘\'\3s‘ : ‘é* Bl 3133 © o 301 LLo B R My [12.96/12.96(12.86{12.89/12.88-8912.66-67 Ju .....i...,,1.....|.....’xz.'z5—50'w.5?-s\o Jy |12.8412.84(12.72/12.74/12.73-74/12.82-83 Au {12.52(12.5212.43{12.45 12.43-45/12.53-55 Sp .....:.....;.....,..‘..)u.sz 111.96-99 Oc (11.78(11.79 11.78/11.73/11.73-74/11.76-77 NG o iib ] otiaton o 1 T~ TSRLIS 48 De 11.7&11.77;11470,11.711\1:0-71;11.73-74 Ja oo RBl TS Cotton Gossip NEW YORK, April 28.—Approximate ly 50,000 notices were in circulation this morning, the majority being issued by the Philadelphia spot interests and were supposedly stopped by them through purchases of May across the ring. It was said, however, that quite a bunch of notices were stopped by Southern mills. * - * - Corsicana, Texas, wires: ‘‘Nearly four inches of rain; heaviest for length of time on record. Rivers overflowing and making immense lakes; bottom lands overflowed. Commerce interrupted; floods clnsingeva.st damage; replanting necessary. ed scarce; bad weather continues. Situation serious.” * * - Waco, Texas, says: ‘'‘Stand around San Antonio very small; too much rain; planting now_completed. Tremendous, heavy rains; considerable further delay to the already late crop. Brazos River out of banks and still rising.” - * * The New Orleans Times-Democrat says: ‘‘This is notice day in New York and it remains to be seen how the mat ter wil! turn out. It has been generally thought that the batch, covering pratrti cally the entire certificated stock, will be taken care of without the slightest hesitation, simply because the demand for cotton of all grades and colors plaim ly outruns the supply. But New York is a law unto itself and the immmediate outcome of the present situation de pends upon the attitude of the predomi nant house. But the strongest house could not offset the strength of the ac tual stuff, the more especially as the excessive rains over the western beit make it quite certain that the new crop will not be an early one, whatever may be its size. “According to The Journal of Com merce and other authorities, Texas is two or three weeks late, and this means much when the reserves are drawn upon to a dangerous extent. The news from the eastern belt is cheerful enough. For instance, this report comes from Al bany, Ga.: ‘lt is safe to say that this section has the best start ever known. Stands are absolutely perfect and the crop is being pushed to the limit. Labor is plentiful and unusual ly efflicenty’ Yet it is essential to re member that, without the help of Texas, a monster crop is -almost bLeyond the pale of the possible. Nor will it do to forget that Texas may have not only an unlimited store of moisture, but an unlimited store of weevils as well.”