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10 Market Qt;o‘tations For Week Ending May 12_._1_9,,,1_1 REVIEW OF COTTON MARKET Further rains in Texas, as well as throizghout the western beil, ang con~ tinued drouth in the eastern half of the belt, where cotton in both sections has been suffering from the effect of excessive rains and dry weather for #ome time, intensified the bullish feeling in cotton cireles here and abroad, resulting in & new high level of prices during the past week. The market showed no signs of flagging, except the latter part of last week, when it was fearcd that rains might occur in the eastern section over Sunday. The hait in the upward movement was of short duration. The weather turned for the better in the Southwest, but there were scattered precipitations in many sections where progress with fie’d work has been interfered with for weeks, This, together with no signs of moisture in the easiern beit, made the situation stronger for the bulls. The bullish fever is growing day after day. Even the most radical bears have been converted into most i(mmvatlve bulls. The market was strong snd broad throughout the week. There was an appreciable mcrease in the volume of outside business in the market. Wall sireet, Liverpool, the Sonth and shorts buying being the feature. The sell ing was scattered. As it became apparent that the upward swing in values had lost none of its momentum there came a rush of outside orders to buy. The steady accamulation of contpacis by the South was hailed as a bullish card, because it was held to confirm damage reports. It is obvious that the freling of apprehentsion over the new crop is becomlng more wt’despre-d. The present bull campaign is attracting the attention of the outsiders to an extent not heretofore witnessed for some time. Continental spinners have be come alarmed by the reportéd damage to the new crofi and have come in the market with buying orders for new crop deliveries. oreign spinners have always shown themselves more re.spopsa'e to crop damage reports than do mestic gpinners, That there is still a large short interest in May on the brink of seeking cover ai present vilues became evident the past week, especiaily so Mon day when the New York market opened with May contracts the feature, being under steady demand and showing an advance of 12 points on the first trtansaction, As the session wore on the demand became more sound, and shorts seeing that the larger spot houses were willing to absorb every bale offered, became nervous and soon the trade witnessed one of the most sen sational bull raids for some time. Offerings were light and there seemed a bull for ¢very bale of cotton that will be raised this season. Shorts sirug gled for the spot option, but got only balf they bid for. At the end of the fourth hour the option stood 55 points higher than the previous close, or $250 a bale higher. At this level it was teuernlly conceded that the market would encounter considerable profit sales, but offerings were tight, holders standing pat, predicting stiil higher levels. Near the close the option lost 2 points from the high, closing with a net gain of 48 points for the day. It is believed there is still a large short interest in the position. The advance widened the premium that May helds over July 100 points, or $5 a bale. There was also a stead:” accumulation of July contracts, the consensus of opinion among authorities on cotton being that there will be a repetition of May in the July option, There may be a great bull card in July, which there generally is, and at this writing the market is steady, with light offerings and there seerus to be a short interest in the midsummer month, but weather conditions can do almost anything at the moment. The weather is the dominating factor at this time of the year. It determines the course of events. Clear weath er in the . West for a few days would give the planters an opportunity to catch up with fleld matters to a certain extent, but not altogether, because fields are reported to be in very bad shape, but a week of clear, warm weather in that portion of the belt, together with a few days general show - ers in the eastern section, would adjust matters to an extent that longs would not have the nerve to ecarry their supply, and naturally, a real bear raid would follow, with a slump in values the result, It has been some time gince the hears have had a siice of ple, and consequently they would fall over themselves to clean up in the quickest possible time. On the other hand, it looks as if there is a bull for every bale of cotton that the South will produce this year. It looks, teo, lh%( they wiil have the crop bought with in a few days. Some have already picked u% more bales than they think they can carry well. At any rate, some of the more bold do_ not ‘hesgitate to show signs of uneasiness. A few days-of adverse weather "conditions will cause a great spill of contracts.. But at thls writing there is a strong bull ;-lmin that can stand considerable pressure from the bears without break ng There was a rumer the past week that the National Ginners’ Associa tion of Memphis would place conditions around 74.6 per cent, but this was denied, Bulls considered the figures too high, anyway, g Sentiment Is very friendly to the market at gresem and with the pros peots of a low condifion report, which will be published June 1, by the De partment of Agriculture, traders are inclined to sts{ on the constructive side of the mdrket. The report will compare witiv 79.1 per cent on May 25. 1913, n:aln;k 78.9 per cent on May 25, 1912, and 87.5 per cent on May 2j, 1911 (the “bumpér’’ year). The report will also compare wiih 2 ten-yvear average of 81.5 per cent last year and 81 per cent the year before. The majority of traders look for a figure around 2.9 to 73 per cent, which would be con strued as bullish. TUESDAY'S REVIEW: - NEW YORK, May 26.—Continued cov ering by sherts in.parted a steady tone to the cotton market at the_openinc to-day, resulting in first prices ranging from 1 off to 4 points net higher than Monday's “close. The weather map showed improving conditions and Liv erpool cabies were firm, There was considerable buying, based on expecta tions that ihe weekly official weather report will be builish in charaeter, The main feature after the call was the heavy covering by July shorts, There was also covering by overnight shorts and commision housas. The bull leaders were active, they bhaving re ¢eived their share of the ple yesterday, when May sold $2.3 a bale higher. The buyirg was based mairly on the continued dry weather in the eastern belt and general rains in Texas. This invited heavy buying by lecal profes sionals, rnsumn‘g in a rapid advance of 8 to 10 poinis from the opening range. Ma)y wa: again the feature, with July trailing. ‘l'he advance carried the en tire list into mew bhigh levelz, May touching 1595, while July reached 12.96 and August 12.98, new crops were in sound demand, ; Bulls added another bullish link to their chain during the late forenoon, when Clement & Curtis {lashed their condition repart, showing 709, against 78.1 per cent last year, which was con strued as buli'sh. Fallowing this, pri vate wires telfl of further rains in Tex as, then came the weekiy weather re port., which was very bullish, showing damage hy excessive raius in the west ern belt and unfavorable conditions in the eastern beli, owing to the contine ued dry weather, This hrought out in creased buying orders from conserva tive sources, promoting further covering by ring professionals and Wall street, The latter then turned to the seliing side, trying to break values, but the market in the meanwhile had estab lished an inflexible tone, offerings were taken as fast as they cams out and at the end*of the second hour May soid to 14 cents, July 12,99 and October 12.5‘)? While the market shows phenomenal strength, there is a growing belief in conservative quarters that a reaction is in order. However, the weather is the. dominating factor and local operators are keeping an eye cn the map. ! Near the close the advance encoun tered considerable realizing sales, re 'PORT RECEIPTS, The (ouowlng table shows receipts at the ports to-day compared with the same day last year. st il A 1918, New Orleans. . . . 3.183 5,082 Galveston. . « o« 4,543 3,467 Meblle, &0 w Nl 1,955 224 Savannah. . . . . 2,693 2,320 Charleston. . . . . 214 17 Wimington. & f v vadns 493 Nortolk, . Taw a 3 240 Boston. . s« s % .| B Kivsanasaiis —total. . mm‘l}l!‘_J_._ ,‘3_'...5 i..._.’ INTERIOR MOVEMENT, RHoumtont: . + s ¥ 1.302 1,269 Augusts., . . <4 . 319 i 154 Memphis. . . . . 810 881 8t Lol W vy 219 156 Cincinnati, . . . 150 381 Little Rock. . . Litiide il o B THOGL v RN e THE GEORGIAN'S NEWS BRIEFS sulting in the market closing barely steady, with prices net unchanged to 7 points higher than the final quotations of Monday. Estimated cotton receipts: ‘ Wednesday. 1913, New Orleans .....4.800 to 5400 1,719 Galveston ........3.000 to 3,500 1,193 NEW ORLEANS, May 28.—~Washlng) ton advised late yesterday that the re? vised cotten acreage last year was 37,- 456,000 acres, stnlnst 35,622,000 original ly given, and that 37,089,000 acres were On the basis of such a large acreage this season's. indicated crop of around 14500000 bales, including more than 600,000 linters and about 200,000, if not more, repacks, looks like rather a poor result. . Liverpoc! showed the full advance due on old erops and quotes spots 7 points higher, sa'es 6,000 bales, but was easier on new crops. The smaller sales fit in with the advice that higher prices are heginning to check at Manchester. This was inevitable, as there lis not enough ecotton to cortinue at the pace Marchester has heen goirg since the btaginning of the year. The map shows cloudy weather in Texas, Oklawoma, Georgia and Florida, generaily fair in the rest of the belt. light scattered showers in Texas, a few showers In the lower central States and in the southeastern portion of the belt, Indications are for unsettled and rainy weather west of the river and increas ing progpects for more éxtended show ers during the rest of the week east of the river. ; A traveling erop expert is queted as say'rg that on his inspection of Missis sippi he fourd more weéevils .than in nther vears, Our rearket opened 2 to 3 points high er, byt hesitated, owing to the slower Liverponl and the chance for rain in the Atiantirs. However, indications for mere rain in the western States, the expectation of a bullish weekly Gov ernmenrt report to-day and a bullish Rureau next Monday, together with the strength of spots, sustained the mar ket and buliish aspirations. Further rain reports from Texas, ad vaneca in the near position in New York and continued crep rr:rc.-ts of a nature to increase apprehensions inf regard to the coming crop caused aggressive strergth in the second hour and earried {:r{;es to 13.41 for July ard 12.47 for Qc ober, SPOT COTTON MARKET, Atlanta, quiet, middling 14e, Athens, steady; middling 13%. Macon, steady; mtddllnf 13%. New York, quiet; middling 14.20. New Orleans, steady, middling 13%, Roston, quiet; middling 14,20, Liverpool, firm; middling 7.63 d. Savanpah, steady,; middling 141, Augusta, steady; mlddllnf 137%. Charleston, steadf'; middling 1314, Norfolk;" firm; middling ll'z. Galveston, firm; middiing 137, Mobile, firm; middling 12 11-18. Littte Reck, quiet; rmdding 13e. Baitimore, nominal; mlddun, 11%. St. Louis, quiet; middling lu.‘ gemphu. steady; n‘uddmxl 13 ouston, steady; middling 13%. Louisville, Nrm: middiing 123§ Dallas, steady: middling 11 15-16 BAR SILVER, LONDON, May 26.—Bar silver steady at 264. NEW YORK, May 28 -Commercial bar stiver, 53%. Mexican dollars, 44. NEW YORK. Wodmda{. ng 13. __Spot_cotton, middling. 1 .60. 8 | ! : ¢ £ = 21 « | Biz- | 3 ’ oe _l___fl = L’x‘gl_fi, &5 My 112.95 1309 12.54 13.08'13.07-0812.95-96 Je ;..‘..;...‘.u....“..,;1z.50-ss|u>7o-so Jly 11255 12:65/12.6412.64/12.64-85 1255-56 Ag |12.39/12.52/12.39(12 54 12.51-52/12.40-41 Sp 11323112'38(12.23(12.28,12.87-38/12.21-23 Oc T12.101226/12.09112.24/12.24-25/12.08-09 De f1::.n~1z.31i12.11]12.29i12‘30-29’12.10-12 Jn [12.08]12.23/12.06(12.22/12.21-22/12.04-05 Mh {12.12/12.26/12.13/12.2612 35-26/12 08-10 Ap h:.3@:12.47;_;:»._;:;13.447‘1;.3_5:433 12.29-31 " Closed firm. 3 Thursday, Ma? 14, . _Spot cotton,.mlddfi_n_i 3.60. ¢ £ wel % ~8 g |2l 2l3dt 8§ | 2 | o 1. 4138 B 2o My [13.14]13.30]13.07 13.25|13.23-35(13.07-08 Je [13.0013.00/13.00713.00/12.85-95/12.80-88 Jy _12.61f1:77;1:.61(\2.70;12.10-71 12.64-65 Ag [12.47'12.66/12.47/12.60{12.60 _ 12.51-52 Bp ...l .l ... 112.49-51/12:37-38 Oc [12.23/12.47/12.23/12.37|12.37-38/12.24-25 Do |12.38/12564/12. 2.44/12.43-44/12.28-29 Jn 12.20{13.43(12.20(13.34/12.33-34/12.21-22 Mh |12.24/12.48112.2¢ 12.42/12.39-40 12.25-36 Ap_[l2.4s/12.60,12.45/12.60/12.60-6112.45-46 Closed steady. Friday, May 15. __Spot cotton, middling, 13.60. _le lxl3 ]33 6 |66 Ag [12.51/12.60/12.47 12.56/13.55-56/12.60 Sp ’12.40;12.40‘12.37;12.37 12.38-39/12.49-50 My {1313(13.27/13.08/13.27{13.27 113.23-25 Ju [12.69/12.69/12.69/12 6914.82-92/12.85-95 Jly 12.60/12.70/12.68/12.67/12.67-6812.70-71 Oc [12:27112'36/12.20(12.25/12.25-26(12.37-38 De {12.26/12.43/12.28!12.33/12.33-33/12.43-44 Jn Ilz.za,lz.szu.l? 12.2313.31-3:{1;:2-34 Mr |12.30/12.36}12.23 12.24‘12.25-26 12.39-40 Ap_ll2.so] 12.53(12.45112.45{12.45-47/12,60-61 Closed steady. it Saturda‘!, May 16. : Spot cotton, middling, 13.70. g 1 &} & I ; gl vyl 1] _ lol®El3 38| &| &b My 13.23‘13.40f13.10 13.38]12.38-40/13.27 Ju ..........t....A’.....:18.88-98'12,8!-92 Jly 112.6312.74/12.58/12.72/12.72-7312.67-68 Ag [12.51/12.62(12.48/12 59 12.59-60/12.55-56 Sp |12.31(12.39/12.3112.39/12.39-40(12.38-39 Oc 1122212 32 12.16[12.2912.29-30(12.25-26 T Lot ke sl sl d S 118 SOA R Dc [12.26/12.38(12,2212.3712.37-38{12.32- 33 Jn 112.15/12.25/12.11/12.23/13.23-24{12.21-22 Mr |12.16/12.28/12.15/12.25/12.25-26{12.35- 26 losed very steady. Monday, May 18. Spot cotton, mlddlix_x_g._u.lo. d oy 3 o -9 % A= 3 33; o &0 My [13.50/13.88(13.45|13.86/13.86-88|12.38-40 T b s el Jly !12.72‘12.88i12.71212.88“2.87-88]12.7243 Ag |12.5712.72/12.56/12.72 12.71-72/12.59-60 Sp |12.35/12 49/12.35 12.49,12.49-50‘12.39-40 Oc [12.26(12.38/12.20{12.87/12.37-38/12.29-30 De lxz.zs 12.46/12.26/12 44?1:.43-44[12.37-33 Jn [12:1512.32/12.1212.30/12.29-30112.23-24 Mr (12.17(12.35/12.17/12.33/12.33-34(12.25-26 Ap 112:39/12'50/12.39/12.53112.53-5512.45-47 Closed steady. Tuesdn‘g. May 19, _‘_S—Q}i_pott«m. ~_'fli__‘l""g' 14.20. = %, ;;; - ¢ lilii"’%} £ IE; almd 3458 k 0 1 & My lxs.ss'l4.oo‘;xz.ss'x"z‘.sozls.so-' 9113.86-88 e Lot e 50-18 Jiy |l2'BB/12'90/12.8712.87|12.87-88/12.87-38 Ag [157312.83/12.71/12.72112.71-73112.71-73 Sp 112.49112.59/12.49112.49112.52-54/12.49-50 Oc glz.mhz‘muz,zspan 12.41-42{12.37-38 De .12.47”2.63'12.46‘12.50 12.50-51 12.43- 44 Jn [12.3312.48 1232{12,35 12.35-36/12.29-30 Mh |12.37]12.52/12.3613. .38-39/12.23-34 Ap 112.57/12.74'12.57112.70{13 57-59/12.53-55 Closed barely steady. Commercial Appeal Makes Condition of e 5 M MEMPHIS, May 25.—-The Commer cial-Appeal makes the condition of the growing cotton ¢rop at 78 per cent, an increase in acreage of 1 per cent. Foliowing shows the report b{ubutes: Texas, 64; Oklahoma, 73; uisiana, 85; Arkansas, 89; Tennessee, 88; Missis sippi, 92; Alabama, 91; Georgia, 90; South Carclina, 76: North Carolina, 73. While these figures are comparatively complete east of the river and in Ar kansas and louisiana, they sare sub jeet to heavy revision in Texas and Oklahoma, especially the State of Tex as. In Texas the acreage is estimated to be unchanged, but the figures are based on what is planned to be plant ed, and further rains in that State would undoubtedly materially reduce the acre age. Couditions vary widely, being more nearly perfect in the central valley and the western side of the eastern belt than in other sections. In the central valley, Adabama and Georgia a warm rain would (fllace con @itions where they could hardly be im proved. Preparation has been thorough and the crop is unusuallly well cultivatea throughout this section. In Texas steady rains have rendered the condition the worse ever known there. Good weather would do much to remedy conditions in the big State, but it is doubtful if all damage can be thoroughly repaired. Plant health is generally pretty good, but cool weather has retarded growth to a certain extent. However, the crop, outside of Texas, Oklahoma and West ern Arkansas, is somewhat earlier than last year. MONE YAND EXCHANGE, NEW YORK, May 26.—Money on call 1% time money, unchanged; 60 days, 2145 90 days, 2%, six months, 3@3%. osted rates: Sterlin exchange, 4.8650@4.89, with actual %ualneu in bankers’ bills at 4 8875 for demand and 4.86 for 60-day bilis Prime mercantile spaper unehanged. ¢ NEW ORLEANS. Wodne;daymMuy 13. _ Spot_Cotton, middfing, 13. : l s'-*’l ‘h*l ! I E sIE | 3133 l 9 L2z - 113.37/13.42/13.25|13.42/13.41-43(13.38-40 % ,1331“% oo 121830180011 Ty |13.03(13.16/13.0113.1518.15- < Q,f u.ss}u.svimvss u.97|{§s:g:gg g.gg::z 1215|1237 12.14/12.26/12.26-27/12.15-16 Ny [l 2 s a6)13 14-18 De |1214]12.25/1213/12.2512 24-25112.14-15 Jn 12.15!u.zsl)m.mfm.zshz 25-26/12.16-17 Mh 1122711213712 26/12.36/12.34-36 12.24-26 Closed steady. Thursd?’. May 14, : Spot cotton, middling, 13%. 8| S{f |3 bl 32 ¢ = 51 = £o < I & ®» | O a 0 zJu_y 1341135 s;‘fi.‘s‘szl3.sB&'}s—2}l}}3-3 e LR BN sAI b s[t 4=~ 18- Jly ‘13.12"13.33%13.13213.24 13.23-24/13.15-16 AR -13.00}13.14'13.0051104 13.02-04/12.96-98 o ii».‘z's'.ii.'is’;ii-.’zs'xi.’a’s’ 1233-36/13 38 27 WYL et isl sc o dhai T RN .24~ De [12.26 u‘u[12.24!13.33':2.3:-34 1224-25 Jn 1z.01}12.43;1z.z7 12,36%%3646 12.25- Mh [1.36/12.53/12.36/12. 4572 44-46/12.34-36 Closed steady. Frida(. May 13. Spot cotton, middling, 13%. 1 - : » Mi“ '3' : lé O&3 B 2 O My n.«us.m;mn‘xa.uzg.:g-:;‘g;:-g u Soihßesdsnton soalsons L& &0~ Ty [1317/1324/13.11/13.15/13.14-16/13.23-24 é‘f 12.95 u.oo%x:so'xz.sogg.fl-% fi.gz_;-gg oc [ids iz':s'e;ifizfi{is:z's;g:gg 123536 W Riiovilais selv 00l asvion D=, g De [12.28 Iz.l4hz.zz|u.24=lz.xa-z4 12.33-34 Jn (12301235 12.24 12.2612.25-26(13.35-36 Mr [12:36112.42/1235(12.3512.34-35/12.44-48 “Tlosed steady. ) z Baturdal May 16. Spot cotton, middling, 13%. d s| w 4 : » I o 3 3-3 s| £ iy 113.34"’1'3.4' 5/13.54 1340*{%?;;‘1%;“; u snon)oioh vobe s vofon's sn k- v =g Ty Qs.no;w.zsha.os 13.18/13.18-17/13.14-15 Ag {l3‘”‘l3'°°il“9l‘3'°°j%§'§§"§3l{§'fl‘2§ Qe ii'x‘éllié.'z'i ié.'is'"ié.'éé;gfigg-ggt}gig;-gg W oV viikaan eolens sofes ¢ o cihl aO~ 00 1840 De lm;ulm.so 121812 27112.27-28/12.23-24 Jn 112718/12:31(12:18/12.29/12.29-30/12.25-26 Mr [12.37(12.4012.37/12.39/12.37-39/12.34-35 Closed steady. e or P Monday, May 18. Spot cotten, middling, 13%. ’sl 8| slsel % |3B S1&8 131881 3| &5 My [13.35/13.49|13.18/13.47)13 46-47/13.35-41 oo |l esy a 2 Tiy |13:17/13.90/13:13/13.50/13.27-30/13.18-17 Ag 12.97]13.1“12.97 13.1113.10-11/12.96-93 B s o es IR BT .48- Q¢ i1“5i‘24333123341133;{?,%?,';3 12.28-23 B Y S el s € sal v i oia sl vwn ol BaTS™ . = “&‘32%%'“1'251‘13315’1%%;’5}%"3’2’33'}%%3‘?3 n 26112, . ¥ .38-3912.29- g_r_hyilu.w 12.18(12.46/12.47-18(12:37-39 Closed steady. Bxes Tuesday, May 19, Spot cotton, middling, 13%. d - & y . Iglil"“, : }55 clml X 33 7 a 0 My ;13.5:113.55(1&51[13.5? 1350 39!3.?&-;7’ O R v e s SRy SRR .32-34 Jly [13.33[13.46/12.3018.34/13.34-35/13.39-30 é},‘ ixa.xsps.zs 13.00/13.091815 113 10-11 0e 'ii.'iéfi'.'-.'s'z' 12.38(12.43 fifg-s };g;gg WY ionba vhndssitrchs v sabhih N .37~ De |12.39112'51/12.38/1243/12.42-43(12.36-37 Jn [12.40(12.51{12:38/1238/12.43-44/12.38-39 Mh 12.62(12.61/12.52112.52112.51-53(12.47-48 Closed steady. s ‘ - s 2 Satisfactory Businass Reported in Dry Goods ~ Marshall ¥ield & Company, in their weekly review of the dry goods trade, say: “On seasonable merchandige retailers are securing satisfactory business judg ing from the trend of wholesale distri bution, . “Buyers are protecting themselves conservatively as to future business on some lines that may be scarce or high er in, price as the season advances. ~ “Merchants are contracting for wool dress goods for future deliver{ in ex cess of a vear ago. The wool market 'is 5 to 10 per cent higher tham two ‘months ago, with every prospect of its remaining firm. | “Handkerchief business for fall is con | siderably ahead of that on record up to the same date last year. [ “Immediate demand for silks contin ues strong and orders being placed for fall delivery Indicate another good silk season, “Ribbon and laces occupy a large place in the current retail sales throughout the country.” « OFFICIAL WEATHER REPORT. | WASHINGTON, May 26.--Mean teme peratures were normal or slightly above over the northeastern and north central portions of the cotton region during the past week; elsewhere there was a de ficlency of from Ito 4 decrees. Weekly mean temperatures ranged from 62 to T 4 degrees over the eastern, from 70 to 74 degrees over the central and from 79 ‘to 76 degrees over the westrn portion ' of th cotton-growing States. The low est weekly mean temperature, 62 de grees, occurred at Asheville, N, C,, and the highest. 76 degrees, occurred at Corpus Christi, Texas. Only light scattered precipitation oe curred over th&eutern and central por tions of the tton region, over much the larger portion there being no rains. In Oklahoma and Texas rains were gen eral, being heavy to excessive in east Texas. The greatest weekly ralnfall, 8 inches, occurred at Austin, Texas.