The weekly Georgian. (Atlanta, Ga.) 1913-19??, June 30, 1914, Image 10

The weekly Georgian., June 30, 1914, Page 10, Image 10

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Newspaper Page Text10 Marlcct Quotationi For 'chk Ending Jut}e 16. ]‘?_}ﬁ REVIEW OF COTTON MARKET The extreme sensitiveness of the cotton market to the least unfavorable weather news from any section of the belt, because of. the uncertain pros pects in Texas and Oklahoma, was shown during the week, when new crop months sold about a dollar a bale higher than last Tuesday's closing quota tions on extreme high temperatures in the eastern section, with temperatures rising in the western States. Another factor was F. M. Cordill’s Yeport, al though otherwise favorable, sald the drouth had not been entirely relieved in some sections of the Carolinas. Sold out “longs’’ and Wall street shorts fur nished considerable excitement, especially when shorts tried to cover July commitments, Stand-pat bull interests continued to purchase and support the market wich confidence, contending that recent rains in the eastern and central States were not sufficient to retrieve the damage the crop sustained during the recent period of dry hot weather, and that the prevailing high temperatures over the eastern States and the lack of rainfall would show up in the coming Bureau report, which wiil be announced Wednesday morning at 10 o'clock, giving the condition of the crop as of June 25, and the amount of land cultivated in cotton. ) The opinion among conservative cotton men is to the effect that the con dition of the crop will show some improvement from last month, when the condition was 74.3 per cemt, on account of the recent rains, which relieved the crops to some extent from the drouth, but, on the other hand, the acre age will most likely show a decrease as contrasted with that of last season, owing to the abandonment of land due to the weather conditions early in the season. Technically, the market is much stronger than it has been for some time. This in particular is due to the publication of the Government's weather re port last Tuesday, which was construed as the most favorable weekly weath er reports of the present seazon. Of course liquidation by belated “longs’ followed, as well as putting out somenew ‘short’’ lines. This was helped along by the aggressive selling by the bears, especially on the other side of the “pond,” where more credence is given our weather reports than the major ity of traders on this side is willing to give them. Coupled with this, Liver pool was still inclined to send over pessimistic news, telling of continued poor trade in Lancashire and slow demand for the actual. Naturally news of this character caused uneasiness among ‘longs,”” and in consequence selling resulted. But, now that hot, dry weather is beginning to play havoc with the plant and prospects of a normal output is growing slim, sold-out “longs’ and shorts are bidding aggressively for contracts, but offerings are none too plentiful and talk is now heard of 13% cents _cotton, should the Government promulgate anything under 77 per cent for the condition, or show any great amount of land abandoned. : About the most important feature of the market during the week was the interest centered on the July option, because of the report that the ma jor portion of the New York certificated stock of cotton, which only aggre gated 93,000 bales, had been tenderedto July “longs’ last Friday (first notice day). The same people who put out the notices, however, bought them back across the ring against sales of August and October. And from a trader's standpoint of view, it is not likely that the July option will cut much figure from now on. The news generally at the moment is bullish and ‘““longs” are content to stand pat, feeling that the Bureau will show bullish figures. Considerable favorable weather will be needed from now on to patch up conditions enough for the plant to withstand an unfavorable July and August. On the other hand, those inclined to the bearish element say, with much assurance, that the hot weather was doing no damage to the erop in the eastern States, but instead it is promoting a rapid growth and that many fields will be moving cotton by the middle of July or the first of August. It is also pointed out first of August. It is also pointed out by the bears that Texas and Oklahoma by the bears that Texas and Oklahoma were sending in most favorable crop news, telling of the wonderful progress the crop has made since the dry spell and that the fields were clean of grass and weeds and a large yield will sure ly be produced this season, provided that seasonable weather continues. The edge of the Claflin failure was taken off the market by the fact that it had been talked of in inner circles for some time and the assertion that it was due to poor merchandising rather than poor trade. That such an old landmark in the cotton trade should go under, however, was considered unfortunate and an indication that business conditions are far below normal. The Turners condition report of 78, against 74.3 per cent last month and gluﬁqlast year and acreage decrease of 1.5, was regarded as a standcff by the Nearly all of the private bureaus tried to see if they couldn’t beat the other in issuing their condition and acreage figures Monday, but it happened that they all had set the same date, so here they are: New York Commercial 78.6 per cent. Norden, 0.1; acreage decrease 1.5 per cent. Jay, Bond & Co., 77.7, acreage decrease 2 per cent. National Ginners’ Association, 78.3, acre age 98.3 per cent of last year, loss in acreage 1.7 per cent. Clement, Curtis & Co., 76., against 70.9 last month, 3% per cent decrease in acreage. Mem phine Commercial-Appeal, 7.6 per cent, acreage against 74.3 per cent May 25, or an increase of 4.3 points during the last month. Neither of these reports had effect upon the market, both elements re garding them as standoffs. The market seems pretty well evened-up and traders don’'t expect prices to depart far from present levels pending the Bureau. TUESDAY’'S REVIEW: : NEW YORK, June 30.—An advance of b to 8 points was the response the cot-| tfon market made this morning to con tinued hot weather and a lack of rain, loqether with covering by shorts and a bullish erop report issued by The Jour nal of Commerce, showing a decrease in acreage of 1.7 per cent and placing the condition of the crop as of June 22 at 78.8, as compared with 78.2 per cent a month ago. After the call offerings became heavy on predictions of showers in Georgia and the Carolinas, where they would be of great benefit. Coupled with this, Liverpool became easier and sagged sev eral points, causing additional selling on this side, which forced the list 4 to 7 points below the opening quotations. Influenced by the Government's week ly weather summary, which was con strued as moderately bearish, and a dis position on the part of those who waited until the last moment to even up their commitments befoer the publication of the Census report on the condition of the crop as of June 25, and the area cultivated in cotton this season, the de cline was widened to a range of cbout 10 points below the initial levels. As a whole, the market is well evened up to meet the report. The majority of opinion is that the condition will be around 78 or 79, while the acreage will show a slight decrease over last year. With the exception of liquidating old crops and taking on new crop options, the market was almost featureless dur ing the late session. Weld brokers were roted to be picking up December, while Waters hammered August by offering 10,000 August at 12.79. At the close the market was steady with prices net unchanged to 9 points from the final quotations of Monday. NEW ORLEANS, June 30.—The Jour nal of Commerce makes the condition 8.6, against 78.2 last month; season two to four weeks late; fields clean, well cultivated, free from insects, except in Mississippi, Louisiana and Alabama, where they are numerous. KEstimated acreage 36,822,000 acres, a decrease of 1.7 per eent, The Government report shows eigh teen stations in Texas yesterday with 100 degrees and one with 104 First trades here were at an advance of about 4 points on the strong Liver ronl. bullish weather and the probabil ty of a bullish weekly weather report. Trading, however, was very conservative on account of to-morrow's Bureau oub lication and realizing caused some un easiness. Of the two Bureaus to-morrow, the one giving the acreage is by far the most important, as, without a full acre nfe. it seems very problematic that a yield of a suffiicent size can be turned out with the existing mixed crop con ditions. . The market is quiet but steady, with 12.70 for October. The market is wait ing for to-morrow’'s reports. As soon as they are out of the way conditiens will be the directing influence. THE GEORGIAN’S NEWS BRIEFS Decrease Reported in Cotton Acreage While Conditions Improve NEW YORK, June 30.—The market tendency to reduce acreage in Texas and Oklahoma has caused a general re duction for the whole belt amounting to 1.7 per cemnt. Of the important States only Mississippi and Louislana showed an increase, being 4(?er cent and 6 per cent, respectively. eorgia, Alabama, Arkansas and Tennessee remain the same as last year. Owing to unfavorable conditions in the early half of the month and the general lateness of the season the percentage condition of cotton advanced but slight ly, being 78.6 per cent, against 78.2 per cent a month ago, or an advance of 0.4 per cent. This compares with 80.9 g)er cent in 1913, 81.3 per cent in 1912, 8.9 in 1911 and 80.6 for the ten-year aver age. These reports are based on the replies of over two thousand special cor respondénts of The Journal of Com merce, bearing an average date of June 32. The details by States with com parisons: . > Percentage Condition by States. Q ; @ 1914, June §a e go 2 B 5. - (d < E - g -g, 20 N. Carolina....! *2.B| 81.0] 79.4 \‘I.Gl 77.2 s Carolin&....’ 0.7} 78.0| 77.9| so.l} 73.3 Georgia .......| 0.0 81.5{ 82.0] *0.5 76.1 Florida .......}] s3.o] 92.0} 83.0] 14.0 80.6‘ Alabama ......| 0.0 83.3| 80.7) 12.6' 78.3 Misstssippi ....| 4.0 81.6 80.0/ 1.6/ 80.0 Louisiana .....| 16.0| 79.2] 81.5| *2.3| 80.6 Texas .........| *4.o| 74.7| 75.0/ *0.3/ 84.0 Arkansas .....| 0.0 78.2| 78.0 10.2 85.4 Tennessee ....| 0.0/ 81.¢" 82.1' *l.l] 82.7 Missouri ......|] 14.0| 88../ 84.5| 13.5] 82.7 Oklahoma ..... ‘s.B‘ 79.0| 77.0 fz.ot 86.6 | Average ......| ®*l.7 78.6] 78.2|.....{ 80.9 _Estimated acreage, 36,822,000. | flncrease. *Decrease. | Advances in condition occurred in the following States: : Novth Qursling. ... .., .. v o BB poln:s‘ South Car01ina................ 0.1 points GRS k polnts‘ Alabama ..................... 2.6 points e A R S e L BT RN - (o e e e R OIS BERINOIIE. . . it saivaseananer i B 0 DOINER BIRRGSER. . (s . viioan e B PORMS Deg‘ilnea in condition were: &8 wabuia Geor KX SR RS e aes s SR n e e N e - TOXRE <. ovooonnessravsnssess S 8 DOltS ISR v G e R DU NEW YORK. wunecdag. June 24, Spot cotton; middling, 13.25. tl3sla] 1 | $] ¢ LAS Je [oovvilooroalenons]esss.|l2.63-65[12.50-55 Jy 112.60{12.72{12.58/12.68{12.68 |12.57-58 Au [12.59(12.77]12.58(12.73{12.72-73]12.58-59 Bb Lo iiliiiiid e iaiaa3n b-00128 4081 Oc [12.46{12.62{12.44[12.55{12.55-56{12.42-43 NV [ovoedeenedenonere..l2.42-4412.30-32 Dc [12.48/12.64/12.46(12.58(12.58-59/12.45-46 Jn [12.35(12.51]12.33]12.47(12.47-48/12.32-33 Mr [i2.39{12.56{12.38 12.51‘12.51-52 12.36-37 Ap Toovalividaein)ivi 18 0-T11585-58 Ma [12.71]12.78112.63/12.74112.74-75/12.69-60 Closed steady. Thursday, June 25. Spot cotton; middling, 13.25. c £ . - . ~ §| 5] szl 8| 3f o X | do 0 a 0 F@ [evvecloncnshssnsslessss]l2.s6-60/12.63-65 Jy [12.69/12.75{12.59/12.62(12.62-63(13.68 Au [12.76/12.80/12.66/12.69{12.68-70{12.72-73 Sp 12.57[12.64 12.5512.5512.54-55[12.55-56 Oc {12.59(12.63/12.50(12.53(12.52-53/12.55-56 Nv [12.60{12.5012.50/12.50/12.40-42[12.42-44 Dc [12.64/12.65(12.53/12.55|12.54-55/12.58-59 Jn [12.53/12.54]12.41/12.42{12.42-43112.47-48 Mr [12.57[12.58/12.46/12.49(12.46-47/13.51-52 AD foviaslevanba. iy 3113.84-66{13.69-11 My [12.79]12.80112.71]12.69/12.69-7012.74-5 Closed steady. Friday, June 26, Spot cotton; middling, 13.25. i o 5 ¢ o, |5 H lil : l K §l=l3 ]33 |of JO Ll ibeeieifensai]iseajl3.79-84{18.66-60 Jy |12.60 12.84‘12‘52 12.82{12.81-82(12.62-64 Au [12.67[12.85/12.67(12.84{12.83-84/12.68-T7O Sp [12.62]12.62{12.53/|12.61|12.62-6412.54-55 Oc [12.53(12.63]12.52|12.61{12.61-62{14.52-53 Nv [0.000]ei0e0d0ven),....112.50-63]13.40-42 De [12.55/12.66/12.55/12.65{12.64-65/12.54-55 Jn [12.44/12.56{12.44/12.53/12.563-54/12.42443 Mr [12.47(12.58({12.47(12.52(12.57-58(12.46-47 BY v slos s oddigas]in ] 38.752T712.04- 66 My [12.71{12.79{12.7112.78/12.78-83{12.69-70 Closed steady.. R 2 Saturday, June ?7” Spet cotton; middling, 13.25. eyl 1 la Je [12.86/12.86/12.86/12.86/12.79-84/12.79-84 Jy [12.80{12.93{12.78/12.80(12.79-81{12.81-82 Au |12.85]12.95/12.84[12.87/12.86-87/12.83-84 Sp [12.65[12.68/12.63(12.68{12.66-68/12.62-64 Oc |[12.60/12.68/12.60/12.66/12.65-6612.61-62 Nv [12.53/12.55{12.53/12.55/12.54-56(12.50-52 Dec {12.65/12.73[12.65/12.69{12.68-69/12.64-65 Jn [12.55/12.60{12.55/12.57/12.56-57]12.563-54 Mr [12.58[12.64/12.58{12.60{12.61-62/12.57-58 Ap (12.76]12.76 12.76!12.76 12.76-78{12.75-77 My [12.78/12.81]/12.78/12.79/12.79-81/12.78-83 Closed steady. 3 Monday, June 29. Spot cotton; middling, 13.25. a : * © . SlEl3 38| © &5 Je ‘A‘ i ‘ wevilene..|l2.B6-90{12.79-84 Jly |12.85/12.96/12.83/12.86/12.85-87/12.79-81 AE 112.90{12.98!12.8612.87[12.86-87&12.86-87 Sp [12.72(12.75]12.72[12.75{12.69-71/12.66-68 Oc [12.72/12.78{12.68 12.88‘12.68-69 12.65-66 Nv [12.59/12.59(12.58/12.58/12.56-58{12.54-56 De 112.77(12.82{12.72 12.72“12.72-73 12.68-69 Jn [12.66/12.70/12.60/12.60 12.60-61!12.56-57 Mr |12.68/12.74/12.68 12.65112.64-65‘12.61-62 D Vs .....1..u.1.....12.81-83'12.76-78 My 12.88112.93§12.85,12.85!12.85 112.79-81 Closed steady. Tuesday, June 30. _ Spot cotton: middling, 13.25. j : : ‘ é X MH! : ‘55 Q 1 3 3:/: O T T o il oi]iannilies - A2.78-T9[12.85-90 Jly 112.90{12.90 12.7912.79{12.78-79{12.85-87 Ag [12.94/12.94(12.7712.78]12.77-78/12.86-87 B bal Gt ..[12.62-64]12.69-71 Oc {12.74/12.75/12.60/12.62/12.61-62|12.68-69 NV |ioovilerooifenen]. o |12.48-50/12.56-58 De 12.79{12.81112‘68112.72'12.71-72:12.72—73 Jn ]12.68|12.68‘12.56(12.61‘1160-61‘[12,60-61 Mh [12.71]12.71|12.61/12.64/12,63-64]12.64-65 Ap (12.85512.85§12.85’12.85’]2‘81-83?12.81-83 My |12.91[12.92|12.83112.83/12:82-8312.85 Closed steady. Condition of Cotton . 79, Say Commercial NEW YORK, June 30.—The Commer cial makes the condition of the growing cotton crop 78 per cent and the aban donment of acreage less than 3 per cent. According to reports to The Com mercial on May 19, the acreage showed an increase of 3 per cent over last year'’s picked area, so that the total acreage still exceeds last year’s acre age by about 1 per cent. Improvement was general during the month. Texas is still much below the normal condi tion, the average being only 74 per cent. The report by States follows: June 24, STATES— 1914, oPR RS Te Nerthe Cardiine.. - 0. i e BORtE CHtOURE . v v vi .os s 1B BIINE. . . o 6 e BB T, A e B 8 EOIRIARE gl oy o vt nST S A TR . o GG Al e e t 8 BERRRIAR.. 3. s i 6 A o B Fehnealan . L 0t T el 19 ORERRONE .« . esas b b v B ol . e s Againat, last-month .. .. .. .. 75 NEW YORK COFFEE MARKET, Coffee quotations: S _| Opening. | Closing. IRNBArY. . i . l 8.87@ 8.90! 8.83@ 8.84 February, . o . s.sog 892! B.Bo@ 8.87 March. . . . . .| 8.93@ 8.96| 8.89@ 8.90 Aprik voo L TRV RN B BRE v aS | 8.99 8.95@ 8.97 SOy oL T e 8.31@ 8.33 BUENEE. . . e i TRETE BAO September. .. ) 8.49 | 8.51@ 8.53 October. . . . . . 861@ 862! 8.60@ 8.61 November. . . .| 871 | 8.70@ 8.71 December. . . .| 3.81@ 8.84] B.Bo@ 8.81 |~ Closed quiet. Sales, 31,750 bags. MARRY RlCH—Hundreds anxious to mMarry. Descri%tions and photos free I(“s'e&‘ied). The Unity, Grand Rapids, wchn. NEW ORLEANS, Wednesday, June 24 Spot cotton; middling, 13 11-16. &1 d ) dlus 3 >3 Mil& 3=’ :| B 2 ol = N U I 8 Pocsalicoeditintotaias 800 i 13.02-03 Jy |13.06(13.11/13.04{13.11/13.11-12 13.03-05 Au [13.01/13.09/13.01/13.09(13.08-09/12.95-96 BY LoisSibevs ralt onsshess 0118, 17078 12.61-63 Oc [12.4512.59/12.45{12.56{12.55-56(12.41-42 N [oooideenoelooesodess..|l2.s4-56(12.41-42 De [12.4612.58(12.43/12.54/12.53-54/12.39-40 Jn [12.48(12.59(12.46|12.56/12.56-56/12.41-42 Mr [12.58/12.68/12.58 12.67/12.65-66 12.51-52 MY [ovsoidorenilorsechsse.|l2.69-71112.54-56 Closed steady. Thursday, June 25. Spot cotton; middling, 13 11-186. c . | B E|E szl | | o I|d ‘w o a 0 e B R i T 8 “Hivbial ivvimls 25 se | 18,08 13.09 Jy [13.17{13.19{13.09(13.09(13.09-10{13.11-12 Au [13.16(13.20{13.10{13.10{13.08-10/13.08-09 BD booevslesrsiliarsct®onsi|l3.7B-76118.TT-98 Oc |12.61/12.64/12.52/12.53/12.53 12.55-56 NY [iooafonessles cushooasi|lB.s6l-6813.64-68 De [12.59(12.62(12.50/12.52(12.51-52{12.53-54 Jn [12.62{12.65{12.53{12.54{12.53-54(12.556-56 Mr [12.73 12.73]12.64 12.64/12.63-64/12.65-66 MY doceirtivorilevsnnleeso|iB.6o-60112.60-T2 _ Closed steady. = Yo | Friday, June 26. i Spot cotton; middling, 13 11-16. | e £ “ g > \ i B"'s‘?‘ * lé-*- | ol wl © 3] Je I ceen51e....|13.04-06{13.07 Jy 12.95|13.14 12.90{13.08{13.07-0913.09-10 Au |13.06/13.21/13.06{13.20{13.20-21]13.08-10 Sp [....[...1....[.....11280-8312.72-74 Oc [12.55/12.64/12.55(12.63(12.62-63{12.53 NV Lo oceloneiates . .112.83-88113.51-68 ‘Dc [12.5412.62(12.52(12.61(12.61-62{12.51-52 Jn [12.55(12.65{12.55/12.64/12.64-65/12.53-54 Mr [12.68{12.74[12.67 12.72)12.73-74 12.63-64 My [12.60{12.60{12.60{12.60/12.76-78{12.67-69 - Closed steady. | Monday, June 29. | Spot cotton; middling, 13 11-16. Io | ‘ - 33 o 5 el st S .....,.....13.13-16 13.04-06 Jy [13.08{13.26 13.07'13.26 13.18-24{13.07-09 Au [13.20{13.2713.20{13.20{13.00 13.20-21 8 b o v i 18884118 8082 Oc [12.63{12.70{12.63]12.65/12.64-65/12.62-63 Nv [..oo.]eeeee]oenee)...../12.63-65(12.62-63 De {12.63(12.68(12.6312.64{12.63-64[12.61-62 Jn [12.66{12.70{12.6612.66{12.66-67/12.64-65 Mr [12.79{12.81 12.76}12.76|12.?6--71 12.73-74 My 1.... 0.l a 4 240115.80-82112.76-78 Closed steady. . Tuesday, June 30. __Epot cotton; middling, 13 11-16. el 4 Lk ¢ > 8 “l”l "ial g l’g s E 3 D 2y L 0 g 0 liies li 13.13-15/13.13-16 Jy [12.30/13.30/13.27!13.27/13.17-22/13.18-24 Ag [12.29(13.33!13.25{13.27(13.26-27{13.00 8p [...obe e i eni13.0198112.83-84 Oc ]12.75/12.78/12.68(12.70{12.69-70{12.64-65 N foioaidoeiodioaiet. ..o [12.80~-THIZ 6365 De ’12.73 12.77]12.67/12.69{12.69 12.63-64 Jn [12.77(12.79{12.71{12.71/12.792-73{12.66-67 Mh [12.87{12.87,12.8312.86/12.81-82{12.76-77 My |....f0..0f.....).....|12.85-87{12.80-82 Closed steady. Saturday, June 27. Spot cotton; middling, 13 11-16. : i 5 ¢ ¢ : H‘ 3’) g l‘§ 2] = = £ lei®!S 88l & L& Jly i13.20i13.20.13.)0i13.18}13.17 113.17-22 Ag [13.30 13.30!13,24'13.25“3.21 [13.26-27 Sp ...l 12.85-87112.91-92 Oc ,12.74A12.74?12.64“.2‘64,‘12.64-65112.69-70 Nv ;.:...'.....:.....,.....;1234-6512.69-70 De |12.73[12.’.‘3112.64,12.64112.‘64-65112.69 Jn ]12.76]/12.76/12.6512.65(12.66-67]12.72-73 Mh !12,86(12.86[12.77!12.79|12.76-78}12.81-82 My [12.90/12.90(12.90{12.90,12.80-81/12.85-87 (‘losed steady. 't Weather Re Gov't Weather Report WASHINGTON, June 30.—The week was hot and dry over the entire cotton belt. More moisture is needed in prac= tically all parts, but the plant made satisfactory growth, with little damage by excessive heat and lack of rain, ex cept the late planted. In most sections, the early planted cotton is growing rapidly. 801 l weevils are numerous in Mississippi, spreading in Louisiana and are reported in Texas. Most of the truck-growing regions of the South are suffering severely on account of the drouth and extremely hot weather, with the damage beyond recovery in some sections. Mean temperatures ranged from near ly normal in parts of Southern Texas to 9 degrees above normal over parts of Tennessee, Georgia and the Carolinas. Weekly mean temperatures from 78 to 88 over the easterm, from 84 to 88 over the central and from 82 to 86 over the western portion of the cotton-growing States. The lowest weekly mean tem perature—T7B—occurred at Asheville, N. (~ and the highest—BB—occurred at Au gusta and Thomasville, Ga.; Montgom ery, Ala., and Memphis, Tenn. 1 The precipitation was generally light ' and widely scattered over the larger part of Oklahoma, Texas, Arkansas, Northern Louisiana and Central Louis jana, Northern Mississippi and Northe western Alabama there was no rain. k'l‘he precipitation was generally heav jest in the Atlantic Coast States, but the amounts even there were generally less than 1 inch. The greatest weekly amount, 2.90, occurred at Columbia, S. C. | AVERAGE GUESS 787 PER CENT. NEW YORK, June 39.—The average guess of 104 members of the Cotton Exchange on the Government condition Ireport is 78.1 per cent. 1 positively ADIES 1000 Reward |, 52 = ! #vely great, successful ‘‘Monthly” Compound. Safely relieves some of the longest, most obstinate abnormal cases in 3 to 5 days. No harm, pain or interference with work. Mail. $1.50, Pouble strength $2.00. Booklet FREE. Write to-day. Address Dr. A. 1. South ington Remedy Co., 515 Main St., klan sas City, Mo.