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\ 12 THE GEORGIAN’S NEWS BRIEFS Market Quotations tor Week E ndmg December 2, 1913 NEW YORK. Wednesday. November 26. Spot cotton, middling 18 30 Futures held remarkably steady the past week. Although speculative operations In cotton were confined within very narrow limits, during l le forepart of the week the price movement nevertheless fluctuated rather sharply at time.' The readjustment which took place was comparati\ely small. The New York future contract market showed a net advance of 8 to 14 points from the closing quotations of last Thursday, while the New Orleans ruled comparatively the same, being 13 to 17 points higher for the week At the outset, the market was influenced by the tendency to increase crop estimates, together with reported dullness in the spot markets, disap pointing Liverpool cables and further ‘ long liquidation. The trade was in clined to sell rather than take an additional supply of contracts, and the market fluctuated within narrow ranges prior to the Thanksgiving holiday. But the market took this selling well and eventually recovered to a range of about 20 points over the low point for the Week On the dip there was good absorption from bull forces, followed by active buying by spot interests This prompted a nervous feeling among shorts aryi they rushed to cover s'noit Commitments over the holiday. Friday was a criticaJ period for December longs. Liverpool showed losses ot 3 jK»ints over the holiday and only rallied a fraction from the decline, while spots were also reported weak abroad. In view of the fact that the English market failed to meet advances on our side, the New York market was generally expected to open several points lower However, it held steady ati.J opened generally higher, except December, which opened l point off. The low ebb of the day was the initial levels. This was the first notice day for December and about 17.000 notices were issued, which explained the poor opening However, they were promptly stopped by Wall street houses and in a number of cases by the same interests that issued them. It did not take very long to get them out of the way. And then the bull element started a revolt against shorts who broke, ran to cover and in a jiffy De cember stood at 13.07. or 70 cents above the opening price The bulls con tinued their aggresive attack, and soon had December around 13 12. with January resting comfortably at 12.98, March 13.07 and May 12.99. The ad vance was due solely to bulling and buying: there was no increase of out side parti* ipaTion in the market Bull leaders based the rally on a cable from Liverpool stating that the Master Spinners’ Federation had refused to recommend the short side in the Lancashire mills, which suggested that the situation in England was not so bad after all. The bear element demonstrated the fact that the advance was only arti ficial and not permanent in the last half hour on a rumor that a well known authority had estimated the ginning* to December 1 at 12,100.000. resulting In prices crumbling and at the close the list was about 10 points below the be*t mark of the day. on the other hand, spinners' takings continued on an enormous scale. The rumor of 12,100.000 bales ginned to December 1, made up three days before the period expired, proved a depressing factor. Evidently the selling has l>een greatly overdone, based on the fact that when shorts start to cover prices jump without interruption. This was proven Monday when shorts became frightened over aggressive bidding by bull forces, and as a result December jumped to 13.25 and January to 13.12. Those who are inclined to bullish crop Ideas contend that the crop has been overestimated and the consumption will be large, the latter theory be ing supported by an estimate by a prominent statistician that the world will want 14,750.000 bales to satisfy its needs. Moreover, this estimate is strongly supported by the continued heavy spinners takings. Already spinners have taken 4.298.000 bales out of 7.318,142 bales brought into sight so far this sea son l^ast week the amount brought into sight totaled 672.139 bales, and out of this amount spinning interests absorbed 486.000 bales Rarely have estimates of the crop been so widely at variance as they have been this season. They all range between 12,800.000 to 15,750.000 bales. The question puzzling the trade at the moment is: Will gicnings continue on the present scale? The majority look for a material falling off in gilinings during the balance of the season. In many Slates wires tell of completion of picking, or words to that effect. In Texas and Oklahoma, as well a« some of the eastern States, advices are to the effect that fields are practically bare of the staple, while others tell a different tale. It must be remembered that we had exceedingly premature weather and also early killing frosts, which is said to have killed all prospects for a large top crop. In connection with this, there Is a large quantity of unspinnable cotton, which can only be used for junk The amount of this class of cotton is estimated around 800.000 bales, which would cut a big hole in even extreme estimates and still leave the crop under the estimated world’s need. Up to November 14, there were 10,434,387 bales of cotton ginned, as compared with 10.229,646 hales ginr.ed during the corre sponding period last year, and 11,313,236 bales ginned during the same period in 1911. The Government will issue its next ginning report, as to the amount of cotton ginned to December 1. at 9 o'clock. December 8. and on December 12 the Government will announce its estimate as to the size of the crop for 1913. Last year the Government placed the total crop at 13.820.000 bales, against an estimate of 14.885.000 bales in 1911. lA8i year's estimate proved wrong about 350.000 bales, while tlie total re turns equaled about 14.176,000 bales. The estimate, however, did not include linters. In 1911 the Government missed its guess about 1,250.000 bales. There are so many conflicting factors in the market at the moment that it is no wonder the market remains in a rut. On one hand, there are bears won point to large ginning returns, and on the other there are just as many bulls who cite the good demand and lack of*high grades and the early mar keting of the crop. Such conditions make it a difficult market to judge. However, if the demand continues go od and spots continue to hold, -Hiere is no reason why prices should not work materially higher. The New Orleans Times-Democrat gave its annual cotton crop estimate as fellows: By States Georgia and Florida Alabama ... Arkansas Louisiana Mississippi Nv Dc Jn Mh My Jn Jiy Ag Oc 12 90 13 03 12 12 82 12 97 12 12 90 12 99,12 12 86-12 93,12 12.84 12 84 12. 12 73 12 82 12 12.53 12 55 12 11 96 11 96 11. Closed steady. O 12.93-94 12 90 12.95 12.94-95:13 80.12 84,12.84-85 12 90 12.93 12.93-94 12 84.12 88 12 87-88 12 84:12.84 12 84 12 70 12 78 13.76-77 12 53112.55' . 3.50-62 12 93111.93 11 93-H 11 U 93 97 00-01 91-92 99-13 : 94-95 91-93 81-82 55-58 94-95 Thanksgiving—Holiday. Friday. November 28 Spot cotton, middling 13 40 I O M I of NEW ORLEANS. Wednesday, November 26, Spot cotton, middling 12 15-16. e i M k , 5 • o 4 1 9 ► • R 1 t| 0 ® 0 0 X el JC/i O 1 Ou U Nv 12.75 ] Dc 13.70 12 86 12.70 12.79 12.80-81*12 78-80 Jn 12.93 13 06 12.93 12.98 12 97-9* 13.00-01 bti 12.99-01! 13.04-0$ Mh 13.09 13 20 13 9* 13.11 13.10-11 13 13-14 Ap 13.12-14 13.15-18 My 13 18 13.25 13.17 18.17 13.12-14 13.19-20 Jn 13.17-19.13 20-23 Jiy 13.19 13.30 13.1813.18 13.18-20 13 23-24 Closed steady Thanksgiving—Holiday. Frtday, November 28, Dc 12.94 13 12 12 93 13 04T3 02-03 12 94-95 Jn 12 83 12 98 12 83 12 89 12 88-89 12 84-85 Fb 112 85-88 12.82-84 Mh 12 94 13.07,12.94 12 97-12.97-98 12.93-94 . Ap 12.91 -^3 12.89-91 My 12 88 12.99 12.87 12 90 12.89-90 12.87-88 j Jn [12.85-87 12.84 Jly *2.80 12 89 12 79 12.79 '2.79-81:12.76-77 Oc U 97 12.00 1 1 97 12 00 11 98-12:11.93 94 Closed easy Saturday. November 29. Spot cotton, middling 13.40. * » * ?! c I i j i. a c l I £ C 1 X k 71 3 : ** (?lose si o^5 N v ! 12 80 112.76 Dc 12 78 12 96 12.78 12 85 12.86-87 2 80-81 Jn 13.02 13.11 13.0613.09 IS 0L-0212.97-91 Fb Mh Ap 13.03-06112.99-01 13.15-16113.10-11 13 17-19 13 12-14 13 30| 13.25 13.14113.15 My 13 26 13 21 13.21; 13.21 13.21-22 13.12-14 Jn i..... T3,32 24,13.17-18 Jly 13.27 13 23 1*3 27 13 29,13.24-26,13 18 2« Closed steady. Saturday, November 29. Spot cotton, middling 13c. t o J K J? Dc 13.00 13 08 13 00 13 08 13 04 08 13 02 03 Dc 12.86 12 89 12.86 12.88 12.87 90 12.85 87 Jn 12 85 12.94 12 84 12.93 12 93 94 12 88 89 Jn 13.01 13 08 13.01 13 08 13 07 08 13.01 03 Fb 12 90 92 L2.85- 88 Fb .... 13.08 10 13.03 05 Mh 12.94 13 03 12 94 13.03 13.02 03 12.97 98 Mh 13.17 13 si 13.1b 13.21 13.19 21113.15 16 My ,12.87 12 95 12 47 12.V5 12 94 95,12.89 90 Ap 13.21 23 13.17- -19 Jly 12.78 12 84 12. 78 12.83 12 83 84 12 79 81 M > 13 2 4 13 27 i :t 2S 13 2.1 13.26 27 !3*dl 22 Ag , 1 2.54 1 2.54 12 54 12.54 12 58 59112.54 :*6 Jn 13.27- -29 13.22 24 Oc >12.00 12.00 12 00 12 00 12 02 04 11 98 12 Jiy 13.28 13 20 13 27 i3 30 13.27 30 13.24 25 Closed firm. Monday. December 1. Spot cotton, rniddlirg L2-.50 o I s J Closed steady. Monday, December 1. Spot cotton, middling 13 1-16 .1)12 13 25'13 10 18.14 IS 14-15 13.04 08 12.09; 13.12 12.09; 13.00 13.00-01!12.93-94 ! 13.98-13,12.90-92! 12.10 12.22.13 10 13.12 13.12-12 13.02-03 -04 12.94-96 ■84 .fid., hr , n_... -59 12.10 12.10 12.06 12 07 12 04-06 12.02 04 I '.IW 1J..-|10,10!I.1U 10.0H-' ’13.08 13 13,’ 3 02113.03 13.03-04 12.94- 12.97 12.99 12.93 12 93 12.92-93 12.83- 12.73 12.73*1 2.73:12.72 12.67-69 12.58- ('losed steady. Tuesday. December 2. Spot cotton, middling 12.50 C XS k *4 -i s 1 m * i~ ft ~ C 4 el I Q 1 S I J l JMj Dc 13.20 13.27,13.17 13.19 Jn 15.10 13.13 13.04 13.05 Fb Mh *3 3.1*0 13.25 13.15|13 15 M> 13.10 13 17 13.08 13.10 Jly ‘U2.99 13 «»5 12.97 12.99 Ag f 12 73 12.80 12.73, 2.80 Oc 12 06 13 09 12.0612.09 Closed steady. ► * So Dc .In Fb Mh Ap My Jn Jly 12.94 13 05 12.94 12.f 13.19 13.25113.14 13.1 96'12.95-96 16 13.15-16 13.17-19; 13.29; 13 38 13.27 13.29 13.29-30 i 1 13.29-31 13.37,13.45,13.35, L3.37|13.36 I 1 13.36-38 13.41 13.45! 13.39 13.41 13.39-40 87-90 07-08 08-16 19-21 21-23 26- 27 27- 29 27 20 Closed steady. Tuesday, December 2. Spot cotton middling 13 2-16. 13.19- 13.04- 13 02 13.15 13.09- 12.98- 12.73- 12.08 20,13. 05 13. 04 12. .6 13. 10,13 99 12 74 12. 10 12. 14-15 00-01 98-13 12-13 03-04 92-93 67-69 04-06 e c 1 5 s 2 0 11 3 5;. 9 m g I Dc 13 01 I .in 113.22 \Vb Mh 13.38 • Ap i My ;13.46 • Jn i. . . .. | Jly ;13.52 13 10 13.01 13.09 18.30 13.21 13.24 13.13 i3.34ji3.38 13.50 1 3 41 1 i3.45 .j j 13.52 13.45 13 46 13 05-07 13.23-24 13 25-27: 13.37- 38 13.37- 39, 13.44-45: 13 44-46 13.47-48 d ® o 13 36-37 6-38 9 14 (‘losed steady 2,500.000 1,400.000 900.000 400,000 1,160,000 North Carolina *M.00O Oklahoma 800,000 South Carolina *55 Texas . j • • 3,900,000 Tennessee 400,000 Total 13,660,000 This approximate relates to the actual growth of linters, repacks and other similar additions. , „ . Correspondents report that farmers have sold freely as a rule. They are inclined to hold whenever a sharp decline occurs. A considerable part of the crop is of low grade and Its spinning power will consequently be distinctly less than normal. TUESDAY'S REVIEW. NEW TORI'. Dec. 2.—Unexpetccd strength in the spot market in Liver pool, which showed spots 6 points high er with sales of 15.000 bales, together with a bullish crop estimate by the New York Commercial, resulted in the cotton market opening steady to-day with first prices at a net advance of 6 to 10 points from Monday’s close. Lo cal bulls and the iarger spot houses suported the list and there was an ab sence of selling presure due to short covering who were nervous, seeing thut the market was pretty steady. Outside business was lacking and the trading was almost wholly attributed to locals. After the call trading was narrow, the bears displaying considerable caution. Local bulls were the chief buyers, but the South and Liverpool also took some and at the end of the first hour the list stood 3 to 8 points over the initial level. After the covering of shorts was ap parently ended, local bulls took hold and bid aggressively, but offerings be came scarce and the list stood around the early high point. Sentimnt continues rather bearish, and the majority are talking setback. During the forenoon scattered profit- taking by early sellers and "longs” re sulted ;n prices easing book to the opening range. Offerings became rather general dur ing the late forenoon, based on report that the NaHeool dinners' figures were 1.2,075,000 bales ginned to December 1. This caused the market to ease off sev eral more points from the opening. Ia*ter Turner, of Memphis, reported gin* nings to December at 12,016.000 hales, which was construed as bearish. Some selling followed, but when his comments were digested his report was acoepted as very bullish because of the large per centage ginned, which his summary would indicate. At the moment there is considerably more friendly feeling toward the mar ket, bulls citing the two important Gov ernment reports, due December 8 and 12. one on ginning and the other an es timate as to the size of the crop, as the most strengthening factors. Some of the leading bulls contend that should the Government show 12.000.000 bales ginned and the fact that picking and ginning having been so rapid, owing to higher prices, that there will be very little more to come, thus making pros pects for higher prices very bright. At the close the market was steady with prices at a net advance of 3 to 6 points from the closing quotations of Monday. LIVE STOCK. CHICAGO, Dec. 2.—Hogs: Receipts, 28 000, market 10 C lower; mixed and butchers, 7.40117.85; good heavy. 7.60ft SO; rough heavy. 7.25*17.75; light, 7.25 ft 7.75; pigs. 5.60ft 7.00; bulk. 7.50 qT.75. Cattle; Receipts, 7.000; market weak; beeves. 6.504x9.50; cows and heifers. 3.25 '<*7.80; stockers and feeders. 5.25ft’7 : 40; Texans, 6.40*1*7.70; calves. 9.00ft 10.75. Sheep: Receipts, 22,000; market steady; native and Western, 2.65ft4.90; lambs, 5.25407.40. . ST. LOUIS. Dec. 2. Cattle: Receipts. 3,600 head. Including 500 Southerns; market steady; native beef steers. 7.500 950; cows and heifers. 4.25ft8.50; stock- ers and feeders. 5.00«f7.50; calves. 6.00# 11 00 Texas steers, 5.75ft»7.00; cows and heifers. 4.00ft 6.00; calves in carloads, 4.2505.50. * . . _ Hogs: Receipts. 14.a00: marekt 9 to lower; mixed and butchers. 7.45ft 7 80 good to heavy, 7.70ft7.80; rough. 7 35ft7.50 : light, 7.60@7.75; bulk, 7 50 ft 7.75; pigs. 6 00ft7.10. Sheep: Receipts. 3.500 head; market steady: sheep and muttons. 3.7;>ft4.;>0; Iambs, 5 25ft7.75. 10c PORT RECEIPTS. The following table shows receipts at the ports to-day compared with the same day last year; _ 1913, Turner’s (jinnings to Dec. 1 Very Bullish MEMPHIS, Dec. 2. -Replies from gins in all cotton-producing States give following returns on cotton ginned to December 1: North Carilna. 590.000; South. Caro line. 1,176,000: Georgia. 2.062.000: Ala bama 1.375,000: Mississippi. 960,000; Florida, 60,000: Tennessee, 301.000: Ar kansas 783.000; Louisiana 325,000; Ok lahoma. 769.000: others. 81,000; Texas, 3.535,000; total. 12,016.000. A record has been established in the amount ginned during the month of No vember. A fact made possible first by the even maturity of the crop and then by unusually favorable weather for harvesting. And giners maintain, al most without variation, that the amount to come forward to gins is very* light and that a wholesale and most unusual shutting down of activity Is about to take place. NEW YORK COFFEE MARKET. Coffee quotations: x.nv • irleani . . 16.429 177632 Galveston 30.322 52.054 Mobile 2.447 2.454 Savannah 6.;>44 9.073 Charleston . . . 2.109 1,253 Wilmington . . . 2.647 3,796 Norfolk 4.908 4.089 New York . . . . 685 Boston. . . . . . 106 537 Philadelphia .. . . 100 Various 1.: 774 11.987 Total. INTERIOR MOVEMENT. Houston. . Augusta. . Memphis. . St. Louis. . Cincinnati. Little Rock 1913. Total. .1 1(1,163 17.595 4.275 2.295 10.659 6,283 3,361 9,095 647 966 2,127 35.105 38.360 COTTON MARKET 70PINIONS. Hutton & Co.: “We look for narrow fluctuations until after the Government re Korris H. Rothschild & Co. I “W« look for Irregular markets, pending tbe two Government reports.” Logan A Bryan ‘‘We are inclined to favor a scalping position ’’ SPOT COTTON MARKET. Atlanta, steady; middling 13Vi. Athens, steady; middling 13%. Macon, steady; middling 13Vi. New Orleans, steady; middling 13 3-18. New York, quiet; middling 13.50. Philadelphia, easy: middling 18.54). Boston, quiet; middling 13.60. Liverpool, steady, middling 7.3M. Savannah, steady; middling UM*. Augusta, steady; middling 13%. Charleston, steady; middling 13%. Norfolk, steady; middling 13 3-16. Galveston, quiet; middling 13Vi. Mobile, nominal; middling l3o. Wilmington, steady; middling 13%. Little Rock, steadv: middling 13o. Baltimore, nominal; middling 13% Louis, dull; middling 13%. Opening. 1 Closing. January. . February. . March. • • April. . . . May. . . June. . . « July. . . August. . September, October. . November. December.. .1 9.30 J 9.45 .1 9.65 . I 9.80 ft 9.95 9 82 .10.00 9.95ft 9.1 .110.05 10.02ft 10 < .[10.18 10 09ft 10.1 .10.30 10.17ftl0.1 .10.84 110.25ft 10.: .‘10.35ft 10.40 !0.30ft 10..‘ . 10.35 ft 10.45| 10.30ftT0.: : 1 9.30ft 9.: Closed barely steady. COTTON SEED OIL. Cotton seed oil quotations Opening. | Closing. Spot . . . « . . 7.00ft 7.20 December . , . . 7.04 a 7.06 7.03(6 7 06 January . « . . 7.11 ft 7.12 7.06ft 7.09 February , • , . 7.12 ✓*7.16 7.08 ft 7.14 March .... 7.21 ft: 22 7.18ft 7.19 April . , . « . 1 7.24 (a 7.1129 7.20ft 7.25 May , . . . . 7.31ft7.32 7 30ft7.31 June . . . • • 7.33 ft 7.37 7.30 (ft 7.35 July .... 7 42 ^7.13 7 40 ft 7.41 Closed heavy; sales 2,300 barrels. prr WATCH, RING 8 CHAIR - “* HaiMMoi* Watch. (JuarantsM Timekeeper; also Cm2 A Chain riven fr» « for eclliiir only £9 bird's Prayer Bangle Fin» at 1M each. Write far them, 1 EAGJLE WATCH CO., Dept.219, taiit Boston, Man*, i st l. IlOUlO, HUH, IU1UUIU16 1 _ lemphls, quiet; middling l2Va Houston, steady*, middling 13% IjOul«vfUe, firm; middling 12%. Charlotte, steady; middling 12a. | A nice $1000 Reward | L great, Successful "Monthly” Com pound. Safely ralums the lnnxrert. moat oh*tkia>e, abnormal eaacn In 3 to b hay*. No I harm, pain or Interference with work. Mall $l. r »0 ; Doable SLran*lh (1.00. Booklet FREK Wm* to • lay. Address 1 I>r. A I. d«*uthinston Reimdy Co., 515 Main St.. 1 Kansas City, Ho.