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ID TTTF; GEORGIAN’S NEWS BRIEFS'. Market Quotations For Week Ending June 3, 1913 REVIEW OF COTTON MARKET The cotton market the past week, excluding Monday, was an evening up of accounts prior to the triple holiday and the pending Government report. The volume of business was only moderate. The market had to contend with a lot of bearish reports, which caused an easier feeling generally. Since the close of last Tuesday the New York future contract market shows net unchanged to 20 points lower as compared with the close of Monday. Friday and Saturday were holidays. The New Orleans contract mar ket shows irregularity, being 9 points up to 10 points lower during the same period. Spot quotations throughout the belt are practically unchanged. Ad vices regarding the spot situation is practically nil. Houston, Augusta, Sa vannah, Galveston and Memphis are quiet but steady. Thursday the market was an evening up affair. Prices, however, suffered a sharp decline. A Liverpool cable reported a lock-out in the Lancashire mill district This came as a surprise to many traders and promoted considerable Felling. May delivery passed out of existence without any fireworks. Considerable tenders of cotton, accompanied by a large break in the option, caused sym pathetic weakness in other old crop options. Distant positions held steady through January, passed under the lie level to 10.99, but quickly rallied back to 11.02—the opening and closing quotation. May expired at 11.36 after ad vancing to 11.41 during the first half hour of trading. May opened Thursday at 11.28, a loss of 18 points from Wednesday’s close. May receded somes 25 points in New Orleans. This was explained by the issuance of 6,000 notices. The May deal both in New York and New Orleans was considered a joke. The market opened weak Monday with prices about 2 to 15 points lower than last Thursday’s close, in expectation of a bearish Bureau report on the condition of the crop as of May 25. In addition to this, the weather condition over the triple holiday was favorable. The selling became freer on the call. The absorption was very light and scattered. The more conservative ele ment were inclined to look on until after the figures were made public. At 11 o'clock the Government flashed the condition of the cotton crop to May 25, this year, at 79.1, against 78.9 last year and 87.8 the year of the “bumper crop." It also gave the ten-year average at 79.9, against 81.5 last year and 81 the year before. If a thunderbolt had struck the exchanges, traders could not have been more uoset. The general traders expected figures NEW YORK. Wednesday, May 28. Spot cotton; middling 11.90 c • a O fi X 3 I o it £J2 Cuo My J’e Jiy Ag Spt <Yt N’v D’c J’n F’b Mh 11.53111.53111.45111.45 11.46 11.55 ll.55jll.53j 11.53 11.51 11.61 111.62,'ll.55111.56 11.55 11.40111.42 11.36111.37j 11.36 , .... I.... |.... |.... 111.16 |11.1S|11.17|11.10(11.11(11.10- |.... 11.09 11.15 11.17 11.11111.11 11.10 11.12 11.06111.06 11.19 11.19 11.19111.19 11.11 11.06 11.06 11.16 47(11.56-58 ■53,11.59-60 56111.64-65 •37111.43-44 •18lll.20-22 11111-15-16 -11|11.14-16 ■12111.16-17 11.12-13 11.22-23 Closed steady. Thursday, May 29. Spot cotton; middling 11.90. 45 to 5 * 3 <6 m o o gj® £ ° My J’e Jiy A’g Spt O r t N’v D’c J’n Alh 11.28 11.35 11.46 11.30 11.12 11.12 11.12 11.06 11.07 11.02 11.10 11.41(11.27 11.40 11.34 11.50 11.43 11.34 11.28 11.08111.02 11.36 11.40 11.48 11.34 11.12 11.05 11.09 11.04 11.12 11.04 10.99 11.10 11.07 11.02 11.12 11.37- 11.47- 11.33- 11.11- 11.05- 11.04- 11.06- 11.02- 11.12- 46-47 51-53 53-56 36-37 16-18 10-11 09-11 06-07 06-07 16-18 Closed steady betwen 82 and 84 per cent. Offerings were eliminated entirely for a few minutes. July, which dropped about 13 points at the outset, shot up like a skyrocket until it reached 11.53, against an opening of 11.35. August jumped to 11.42, against 11.27, the opening quotation. New crop positions displayed surprising strength. October and December jumped 17 points over the opening figures and Janu ary 14 points. Later the report was construed as a stand-off and the selling became good, based on the theory that weather conditions have been so pro pitious since the report was made up that it justifies a lower market. immediately after the report was issued a wire came from Memphis saying: Friday, May '30. HOLIDAY. “Regardless of what the condition figures are, we have the best condition ever known and the largest acreage.” This encouraged the bears, with the result that the market closed steady, with prices 2 to 8 points higher than Thursday’s close. The following tabulation shows the conditions of the cotton crop to May 25, this year, by States, a£ compared with previous years and the ten-year average: Saturday, May 31. NEW ORLEANS. Wednesday, May 28. Spot cotton; middling 12 7-16. Open. A ta X Low. rt s) Ja Close. Prev. Close. My J’e 12.40 12.44 12.38 12.44 12.35-42 12.90-98 12.38-3* 12.03-05 Jiy 12.03 12.05 12.01 (12.01 12.01-02 12.08-0* Ag Spt O’t Nv 11.67 11.67 11.62 11.64 11.63-64 11.35-37 11.69-70 11.28-29 11.23 11.27 11.11 11.22 11.21-22 11.20-22 11.28- 29 11.28- 30 D’c 11.22 ii.26 11.19 11.20 11.19-20 11.26-27 J’n Fb 11.23 11.25 11.27 11.23 11.23-24 11.20-23 11.28-29 11.25-27 Mh ii.36 ii.36 11.36 11.36 11.32-34 11.37 Closed steady. Thursday. May 29. Spot cotton; middling 12 7-16. a 9 a. O A to •*-* EC Low. 31 Close. Prev. Close. My J’e Jiy A’g Spt O’t N’v D’c J’n F’b Mh 12.10 12.10 12.10 12.10 11.86-88 11.91-92 11.53-54 11.29-31 11.15-16 11.14- 16 11.14- 15 11.17-18 11.14- 16 12.35- 42 11.90-93 12.01-02 11.63-64 11.35- 37 11.21-22 11.20-22 11.19- 20 11.23-24 11.20- 23 11.22-24 11.95 11.55 ii.98 11.58 ii.90 11.54 11.91 11.55 11.16 11.19 11.14 11.16 11.16 11.18 11.17 11.17 11.13 11.17 11.14 11.17 11.25 ii.27 11.25 11.27 11.25-27 Friday, May 30. Spot cotton; middling 12 7-16. a § o 4 5 * o X Last Sale. 4 ao O V Prev. Close. J’e Jiy A’g Spt O’t N’v D’c J’n F’b Mh 11.86-88 11.92-93 11.51-52 11.32-34 11.18-19 11.18 11.17- 18 11.20-21 11.17- 19 11.26-28 11.86-88 11.91-92 D.53-54 11.29-31 11.15-16 11.14- 16 11.14- 15 11.17-18 11.14- 16 11.25-27 11.93 11.53 11.93 11.53 11.90 11.51 11.93 11.51 11.18 11.19 11.15 11.18 11.16 11.18 11.18 11.18 11.14 11.17 11.17 11.18 11.26 11.26 11.26 11.26 Closed steady. Saturday, May 31. STATES— May 25 1913. May 25 1912. May 25 1911. May 25 1910. Alay 25 1909. Ten Year AV. Virginia 83 89 93 90 85 85 North Carolina 76 87 83 84 93 83 South Carolina 68 83 80 78 83 81 Georgia 69 74 92 81 84 83 Florida 83 75 95 80 91 87 Alabama 75 74 91 83 83 81 Mississippi 61 72 86 82 78 80 Louisiana 81 69 91 76 74 80 Texas 84 86 88 83 78 80 A rkansas 85 73 87 81 84 82 Tennessee 87 74 83 85 85 84 Alissouri 90 74 86 93 93 85 Oklahoma 87 78 87 84 84 84 California 96 96 95 . • United States « .. .. 79.1 78.9 87.8 82.0 81.1 79.9 Ten-year average compared with 81.5 last year and 81 the year before. It is entirely too early to attempt to form any definite opinion of the cot ton crop or the course the market will take. During the past two decades there have been eight large crops, five medium, three small and four bad crops. in the following paragraph the eight large crops are presented, and it will be noted that the initial condition on the first of June of these crops ranges from 77.2 to 89. In 1894 the condition of the crop to June 1 was 88.3; yield .417 bale per acre. In 1897 the condition was 83.5; yield per acre .448. In 1898 condition was 89; yield per acre .449. In 1904 condition was 83; yield per acre .456; in 1905 condition 77.2; yield per acre 410. In 1906, 84.6; yield .425. In 1908 condition 79.7; yield .414. In 1911 condition 87.8; yield .446. During the five years of the medium crops the lowest condition was 78.9; yield .383 bale per acre, while the highest was 95.1; yield .392 bale per acre. Now during the three small crop seasons the lowest condition was 70.5 in 1907; yield .361 bale per acre. The highest condition was 97.2 in 1896; yield .366 bale per acre. During the four years of small crops the lowest condition was 74.1 in 1903; yield .357. The highest in 1909; yield .324 bale per acre. The crop condition of 1896 was the highest-on record and it turned out to be one of the small crops. Consequently, the condition of the crop to June does not always hold throughout the season. As it can be noted in the foregoing figures big crops are raised on poor starts, while excellent initials sometimes turn out to be poor crops. During the past week private sources have received brilliant news regard ing the crop. The rains have brought about fast germination. Advices from many sections of the belt indicate the best outlook ever known, with a big in crease in the acreage. Cordill, in his latest report, says the Texas crop is excellent. There have been several influences against the market this week, one of which was the liquidation of the old crop, then Aliss Giles’ report—showing condition of 84.6 per cent t.o May 24. against 80.8 last year for the same period— and an increase in acreage of 3.7 per cent. The average guess of 95 members of the New York Cotton Exchange was 83.1 per cent. The only reports of con ditions that have been issued that proved encouraging to the bulls were those of the Government and that of The Journal of Commerce, which made the con dition to May 20 at 80.5. There was a pressure to sell from all sides, but under the circumstances the market took all offerings well. The Liverpool Cotton Exchange remained open throughout the holiday, but its fluctuation was narrow, pending the Government figures. Temperatures were seasonably high on Decoration Day and also Saturday, reaching a maxi mum of 90 to 96 degrees officially in Georgia, the Carolinas, Mississippi, Ar kansas and Texas, as well as Oklahoma. The weather map is the all-absorbing factor at the present time, and it is being keenly watched all over the State. The prospects now are for a big crop. The increase in acreage and the good rains have promoted a belief among the conservatives that the outlook is for another bumper crop. Should the weather continue favorable during June and seasonable temperatures obt in during July and August, a bumper crop seems assured. HOLIDAY. Monday, June 2. Spot Cotton; middling 12.80. Open. High. i o X — Last Sale. Close. Prev. Close. J’e 11.27111.29 11.22111.22111.39-41 11.37-39 Jiy 11.35 11.53(11.35(11.50(11.49-50 11.47-48 A’g 11.27 11.42 11.25 11.40(11.38-39 11.33-34 Spt 11.10 11.22 11.07 11.22 11.20-22 11.11-13 O’t N’v 11.02 11.19 1.0.98 11.14111.13-14 .. . |11 11-13 11.05-06 11.04-06 11.06-07 D’c 111. 03 11.19 10.98 11.13111.13-14 J’n Kb 10.98 11.12 10.94 11.08 11.08-09 11.09-11 11.18-20 11.02-03 11.02-03 11.12-13 Alh ii.08 ii.23 11.07 ii.23 Closed steady. Tuesday, June 3. Spot cotton; middling 12.70. Open. A to s Low. Last Sale. Close. Close Prev. Jne Jiy Ag Spt Oc Nv Dc Jn Fb Mh 11.29-31-1 11.39-40 11.28-29 11.11-12 11.04-05 11.03-04 11.03-04 10.99-11 11.00-02 11.09-11 11.39-41 11.49-50 11.38-39 11.20-22 11.13-14 11.13-14 11.13-14 11.09-10 11.54 11.41 11.24 11.15 11.54 11.41 11.24 11.16 11.38 11.28 11.11 11.04 11.39 11.28 11.13 11.05 11.14 11.08 11.16 11.11 11.03 10.99 11.04 11.00 11.18 11.20 11.11 11.11 11.18-20 Closed barely steady. SPOT COTTON MARKET. Atlanta, quiet; middling 11%. Athens, steady; middling 11%. Macon, steady; middling 11%. New Orleans, quiet; middling 12 5-16. New York, quiet; middling 11.70. Philadelphia, quiet; middling 11.80. Boston, quiet; middling 11.70. Liverpool, firm; middling 6.68d. Savannah, firm; middling 12%. Augusta, steady; middling 12c. Norfolk, quiet; middling 12%. Alobile, nominal; middling 11%. Galveston, quiet; middling 12 3-16. Charleston, steady; middling 11%. Wilmington, quiet; middling 11%. Little Rock, quiet; middling 11%. Baltimore, nominal; middling 12%. Memphis, quiet; middling 12%. St. Louis, quiet; middling 12%. Houston, steady; middling 12%. Louisville, firm; middling 12%. Charlotte, steady; middling 11%. Greenville, quiet; middling 11%. HOLIDAY. Monday, June 2. Spot cotton; middling 12 5-16. Open. £ to X Low. co at Si Close. it <LO J’e 11.99-01 11.86-88 Jiy A’g 11.86 12.02 11.82 ii.98 11.98-99 11.92-93 11.47 11.63 11.45 11.63 11.59-60 11.51-52 Spt O’t N’v .... .... .... 11.39-41 11.32-34 11.12 11.28 11.11 ii.26 11.35-36 11.25-27 11.18-19 11.18 11.17-18 D’c ii.ii 11.27 11.09 11.25 11.24-25 J’n F’b 11.14 11.30 11.14 11.27 11.27-28 11.34-36 11.20-21 11.17-19 Mh ii.23 ii.37 11.23 11.37 11.37-39 11.26-22 Closed steady. Tuesday, June 3. HOLIDAY. COTTON GOSSIP NEW YORK, June 3.—The ring crowd is inclined to sell the market at the outset on favorable weather condi tions. Alunds, Waters, Cone, Parrott and Riordan were the principal buyers. Schill, Rait, Hentz, Royce and Flinn were the leading sellers. Sentiment was against the market. * • * Riordan purchased 5,000 bales of Oc tober at 1.13. * * * July was in fair demand at the open ing, but failed to advance from the in itial level, which was 11.54. • • • Warehouse stocks in New York to-dajr were 65,945 bales; certificated, 56,531 bales. TUESDAY’S NEW YORK, June 3.—Firm cables had a little bearing on the couon mar ket at the opening to-day and first prices ranged from unchanged to 5 points higher than Monday’s close. Traders here appeared to be guided more by the weather reports from the belt rather than by the cables. Weather conditions over night were as nice as any one could desire. The market held rather steady before the call, but immediately displayed con siderable weakness When the South turned a seller and from many points came advices claiming that conditions were not so had as indicated by the Government report. A Liverpool cable read; “Bureau dis credited, but many have temporary ef fect. Market will be lower if crop ac counts continue favorable.’’ July seemed in active demand during the first fifteen minutes, but quickly showed depression through heavy offer ings, dropping 10 points to 11.44, against an opening of 11.54. August declined 4 points from the opening, while new crop positions were under pressure and re ceded some 4 to 7 points from the in itial range. Sentiment continues bearish and the ring inclined to supply the market with plenty of cotton. Offerings were ab sorbed mainly by brokers with spot house connection. Regardless of the low percentage the Government gave the crop yesterday, the ring continued to liquidate. The aver age trader expressed the belief that there has been considerable improve ment in the condition since Alay 25, which private reports confirm. During the afternoon session, July in creased its decline to 11.41, a net de cline of 13 points from LLa opening; REVIEW: other positions followed the decline moderately. About the only buying in evidence was attributed to some trade absorption and scattered short cover ing, which prevented a more serious break. The talent, however, is not in clined to take on any large lines, and in the absence of outside business and the holiday in New Orleasn, business was only moderate. At the close the market was barely steady with prices showing a net decline of 9 to 10 points from the final quota tions of Monday. PORT RECEIPTS. The following table shows receipts at the ports to-day compared with the same day last year; I 1913. 1912. New Orleans . . . 3,157 237 Galveston 3.042 2,555 Mobile. . . . . . 876 196 Savannah 1,526 896 Charleston 38 4 Wilmington. . . . 162 Norfolk 1,244 167 Various 76 Boston 4 Philadelphia . . . 58 Total 10,180 4,059 INTERIOR MOVEMENT. 1913. 1912. Houston 1,249 424 Augusta 85 174 Alemphis. . . . • . 342 1,043 St. Louis . ... . 100 342 Cincinnati 169 366 Little Rock. . . . 44 Total. ...... 1,945 2,393 WEEKLY WEATHER REPORT. WASHINGTON, June 3.—The greatest excess in mean temperature was over northwestern Texas. The mean temper atures ranged from 68 to 78 degrees over the eastern, frim 72 to 78 over the cen tral ancl from 78 to 82 over the western portion of the cotton-growing States. The lowest mean temperature, 68 de grees, occurred at Asheville, N. C., and the highest, 82, at Del Rio, Texas. Precipitation occurred generally over the eastern and north central portions of the cotton region, but the amounts were generally light, except that more than an inch occurred in parts of North Caro lina, extreme eastern Tennessee and the northern portion of South Carolina. Elsewhere over the cotton-growing States there was no raon, except that a few light, scattered showers occurred over the northwestern portion of Texas and in Oklahoma. The greatest weekly amount, 2 inches, occurred at Wilmington, N. C. Mean temperatures were from 1 to 7 above normal, except that they were normal or slightly below over northern Missis sippi and north central and northwestern Alabama. MILLER-CARTER COTTON LETTER. MEMPHIS, June 3.—Sufficient buying developed in Liverpool as result of low condition report to cause moderate ad vance, but as a whole the demand there was disappointing, and it does not ap pear that spinners are eager takers. In New York the ring crowd sold after Liverpool closed, bringing about a de cline. Sentiment is bearish, Government figures are not accepted and with the weather favorable crop is making steady advancement. * * * Liverpool cables: "American middling fair, 7.22d; good middling, 6.88d; mid dling, 6.68d; low middling, 6.52d; good ordinary, 6.i6d; ordinary, 5.62d.” * * * Brown, Drakeford & Co., Liverpool, cable: “The market feels the influence of the bureau report; continent cover ing.” • »» • Dallas wires: “Texas, Amarillo, cloudy, balance clear and hot; no rain. Oklahoma—Part cloudy; few points threatening.” * * * NEW ORLEANS, June 3.—Hayward & Clark: The weather map is favor able; shows fair in south central States. Part cloudy, elsewhere fine warm weather. General showers in north Ala bama and Atlantics. No rain elsewhere. Indications are for part cloudy to fair, except in north central and northeastern States, where it will be cloudy, showery and cooler. • • • Memphis wires: Cooler weather is indicated for western and central cot ton States during the next 24 to 36 hours, possibly attended by local show ers. Over the Southwest yesterday scattered local rains fell with probably more to-day. Very favorable conditions. COTTON MARKET OFINIONS. Logan & Bryan: We think conserva tive policy in making purchases on re actions will prove profitable eventually. Atwood, Virlett & Co.: We think cot ton 'can be bought cheaper. Sternberger, Sinn & Co.: We look for higher prices. Norden & Co.: We think sales on bulges should be profitable.