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* 1 / THE GEORGIAN’S NEWS BRIEFS Market Quotations Eor Week Ending December 30, 1913 1 REVIEW OF COTTON MARKET Following the adjournment of Christmas holiday, there was good demand f.,r notion futures around 12c, and a recovery of about 15 points ensued. At no time did fluctuations exceed 15 points either way. The triple holiday in I ivorpool cotton market restricted business on this side to a great extent. Traders of either element were not Inclined to play with the list until the holiday spirit had worn away. However, the continued optimistic feeling in regard to general conditions throughout the country, which was reflected in lighter offerings, revival of trade demand and a disposition on the part of a few stubborn shorts to cover, promoted general absorption by spot interests here and abroad, which checked the aggressiveness of bear leaders, causing un easiness among shorts. Sentiment has become friendly to the market. With Liverpool closed Thursday, Friday and Saturday, the influence of the market was absent and there was no development over Christmas to affect sentiment. However, a sharp break in New Orleans on the circulation of January notices was respon sible for an early dip in the New York market, but on the decline there was steady accumulation and shorts covered, resulting in a rapid recovery of the decline, on account of the first January notice day in New York, the trade was not inclined to do much and the market fluctuated narrowly and was sen sitive to small transactions. Certificated stock of cotton in New York is 67,895 bales, but it is well to remember that cotton can be tendered before it has been classified. At the close of business Monday the to'al amount of cotton in the New York warehouses was 82,265 bales. It is understood that a good deal of sandy, trashy cotton has been refused by the exchange recently as unspinnable. This confirms the many reports from the belt that a goodly portion of this season's staple is unspinnable and fit for nothing except junk. Most of the undesira ble cotton is coming from the western belt, where the excessive rainfall and continued drouth put the staple In bad condition and decreased the production more than a million bales. It is generally believed that all of the 67,895 bales of the certificated stock will be tendered Tuesday. Who will stop these no tices is problematical, but it would n ot be surprising to see most of the cer tificated staple taken over by spot houses. The majority believe the hand of the spot houses is hidden in the January-Mareh situation. These interests have covered a good bit of January sales, but are still believed to hold a larger bunch of short lines, w r hile they are presumably long of March, as they have been fairly good absorbers of the later option. Futures were steady Monday, with a soft undertone, due to renewed liquidation of January in advance of first notice day. The leading spot houses appeared to be buying all day. There was buying for European and Southern Recounts, which was probably to fix prices on call cotton, the final result t)f these cross-currents of trading being to cause the list to close steady \vith prices 4 off to 6 points higher than Saturday's close. After Liverpool remained closed for three days, it opened Monday with prices about 5 points better than due and reported heavy sales of .12,000. This brought out heavy buying at the outset by spot houses and caused shorts to cover some cotton they didn’t want to. All the time American operators were selling January, Liverpool was a good buyer and support of later positions looked to be from shorts and partly from new buyers who are of the belief that there Is still more of the upward reaction in the market after the severe cleaning out it has had since the last ginning report. All rallies seemed to meet with heavy offerings from Wall street, where that clique of traders is enjoying much prosperity as a result of general optimism. A striking and encouraging feature Is the comment in the North as to the new currency law, which is far more favorable than had been expected. Eas ier credit facilities and revival in trade activity seem generally expected and will tend to diminish or remove the depression caused by uncertainty, fear and ultra-conservatism. Spot holders are said to be firmer and in a better position to stand pat with what cotton they have left. Much interest is centered in the forthcoming ginning figures. At this writing the belief is that Turner, of Memphis, and the National Ginners’ Association will show rather large returns in their reports. This belief, however, is only based on freer offerings of the staple in Memphis, in the face of the striving efforts of the more bold to sustain the market. The next Government ginning report will be issued January 9. 1914. The report will compare with 12,919,257 bales ginned from December 13. 1912, to Janu ary 1, 1913 against 14,317,002 in 1911. The figures will also compare with 12,923,606 bales ginned to December 13, 1913. If reports from the belt he true, ginnings will be under those of last year for the period. It is said NEW YORK. Wednesday. December 24, Spot cotton; middling 12.60. Open X N X i 3 35 e </i 0 6 |I Dc 12.20 12.28 12.11 12.15 12.12-15 12.13-16 Dc Jn 12.04 12.10 11.94 11.95 11.94-95 11.97-99 Jn Fb 11.99-03 12.01-05 Fb Mb 12.25 12.34 12.16 12.21 12.21 12.22-23 Mh M > 12.24 12.28 12.13 12.16 12.16-17 12.18-19 Ap In 12.27 12.27 12.27 12.27 12.16-18 12.18-20 My Jiy 12.20 12.30 12.13 12.18 12.18-19 12.19-20 Jn Ag 12.0:: 11.10 12.00 12.00 11.98-12 11.98-12 Jiy Oc 11.70 11.70 11.61 11.63 11.59-61 11.69-60 Oc Open jC &J0 5 * S.2 O f « .2 1—< or. Close. Prev. Close. Dc J11 Fb Mh Ap My Jiy Ag Oc 12.13 11.91 LI?. 23 12.06 12.13 11.90 12.19 12.05 12.19-20,12.07-09 12.05-06111.92-93 12.10-15 11.99-12 12.34-35 12.19-20 12 29-32 12.15-17 12.18 12.35 12.18 12.35 12.18 12.20 12.30 12.31 12.18 12.20 12.30 12.31 12.29- 30 12.30- 31 12 10-12 12.15-16 12.15-16 11.96-1*8 11.55-57 11.63 11.70 11.63 11.70 11.70-72 Closed very steady. Monday, December 29. Spot cotton: middling 12.60. c © a si i 0 m * d d lose k ® £.2 0 X 1—4 O 0,0 Thursday, December 25—Holiday. Spot cotton; holiday. Friday, December 26. Spot cotton; middling 12.60. a © JB 5£ tt ■ j ® m ® 2> a 0 d d - O X j J m 1 0 « £ Q © ~ u NEW ORLEANS. Wednesday. December 24. Spot cotton; middling 12 11-16. o e G O a u * o d © J. O O „ © •v - 112.28 12.35 12.28,12.33 12 23 112.20 12.34 12.36; 12.18 12.23 12.23-24 12.30-c 31 12.1 12.76 12.76 12.58 12.8012.63 I 12.49- 50 12.55-56 12.50- 52 12 56-58 12.62 12.61-62112.67-68 12.61-62)12.67-69 12.65-66' 12.71-72 J 1.55 111.60 12.65 Thursday, December 25—Holiday. Spot cotton; holiday. Friday, December 26. .. Spot cotton; middling 12 11-16. Dc 12.10 12.10 12.01 12.07 12.07-09 12.12-15 Jn 11.91 11.94 11.83 11.91 %1.92-93 11.94-95 Fb ].. 11.97-12 11.99-03 Mh 12.18 12.21 12.11 i2.20 12.19-20 12.21 Ap 12 15-17 12.16-20 mV i2.15li2.17ti 2.07 12.15 12.15-16 12.16-17 Jiy 12.16jl2.17 12.08 12.16 12.15-16 12.18-19 Ag II.99IH.99111.98 11.95 11.96-98 11.98-12 Oc 11.60 11.60 11.52 11.57 11.55-57 11.59-61 Closed steady. Saturday. December 27. Spot cotton; middling 12.60. Dc. Jn. Fb. Mr Ma. J ul. Au Sp. Oc. 12.30112.30|12.17 12.13 12.15 12.03 12.26 12.07 12.44| 12.44 12.34 12.37 12.40 12.40 12.29 12.33 12.39|12.40 12.30 12.34 12.23112.2311 2.15112.16 11.82 11.82| 11.82 j 11.82 11.78 11.78 11.66111.78 Open High. Low 1 Last Sale 9 V) 0 6 u ~ Dc 12.10 12.19 12.10 12.19 12.13 12.23 Jn 12.20 12.20 12.06 12.14 12.14-15 12.23-24 Fb 12.19-21 12.28-30 M h Ap My 12.48 12.48 12.35 12.43 12.43- 44 12.44- 46 12.49- 50 12.50- 52 12.60 12.60 12.48 12.58 12.57-58 12.61-62 Jri 12.57-59 12.61-62 Jiy i2.G4 12.64 12.53 12.63 12.62-63 1 2.65-66 Oc 11.48 11.55 Closed steady. Saturday, December 27. Spot cotton; middling 12 11-16. c ® a O i j Last Sale. Close. © u Dc Jn Fb Mh Ap My Jn Jiy Oc 12 29 12.1*7 12.39 12.41 12.29 112.17 12.39 12.38-39 12.38 12.38-39 112.43-45 12.13 12.14-15 12.19-21 12.43-44 12.64-66 12.57- 58 12.57- 59 12.62-63 11.48 12.49 12.68 j 12.48 [12.65T2.65-66 12.65-67 12.62 12.80 [12.62 12.79,12.79 12.80-82 12.70 11.84 12.87112.67 11.84 11.84 [12.87 12.86-87 11.84 [ 11.84 Closed steady. Monday, December 29. Spot cotton; middling 12 13-16. 12.25-27 12.19-23 12.05-07 12.05-06 12.14- 18 12.10-15 12.39-40 12.34-35 12.32- 33jl2.29-30 12.33- 34112.30-31 | Ma 12.14- 16112.10-12 i Ju.' 11.75-82jll. 79-80 Jul. 11.68-69 11.70-72 Oc De. Jn. Fb. Mr. A 13 ' St X * C d » ± rt ct hX © m o O 12.39 12.47 Closed steady. Tuesday, December 30. Spot cotton; middling 12.60. 12.71 12.84 12.91 11.81 12.39 12.47 12.35 12.72112.61 12.84 12.74 12.91 11.81 12.80 12.80 12.85 11.79 11.80 12.39 12.41 12.67 12.40- 12.40- 41 12.45-47 12.66- 67 12.67- 69 12.79- 80 12.80- 82 12.84-85 11.79-80 1 > ® i ? ' n s- ~ 1 h'- _ 12.38-39 12.38-39 12.43-45 12.65- 66 12.65- 67 12.79- 12.80- 82 12.86-87 11.84- Closed steady. a ■ a O St M X Low. Last Sale Close. . © t. T - £° CLU d © M, O S X Low. » i « R 4 9 0 5 Prev Close. 1 Dc 12.20 12.36 12.18.12121.12 20-21 12.25-27 Dc | 12.40 12.40 Jn 12.05 12.11 11.90 12.00 12.00-01 12.05-07 Jn 12.43 12.47 12.33 12.40 12.40-41 12.40-41 Fb 12.09-13 12.14-18 Fb 12.45-47 12.45-47 Mh 12.41 12.43 12.28 12.32 12.32-33 12.37-40 Mh 12.68 12.75112.56 12.03 12.62-64 12.64-67 My 12.31 12.36 12.22 12.28 12.28-29 12.32-33 A n ... J 12.63-65 12.67-69 Jiy 12.33 12.38 12.24 12.30 12.29-30 12.33-34 My 12.79 12.86112.68 12.76 12.75-76 12.79-80 Ag 12.16 12.17 12.10 12.10 12.10-12 12.14-16 Jn 12.75-77 12.80-82 Sp 11.78 11.78 11.78 11.78 11.78-80 11.75-82 Jiy 12.89 12.9212.75 12.81 12.81-82 12.84-85 Oc 11.69 11.72 11.69111.70 11.70-72 11.68-69 Oc 11.77-79 11.79-80 Closed steady. Tuesday, December 30. Spot cotton; middling 12 13-16. Closed steady. the crop Is practically ginned and marketed throughout the belt. Ninety per cent of the Georgia crop has been sold, in the opinion of some Geor gia cotton factors, who say that 99 per cent of the crop has been ginned. Perhaps the most interesting argument heard in cotton circles in many weeks was estimates of an acreage of 40,000,000 next season. The' im pression appears to prevail that there will be the largest planted area on record. The largest acreage on record was in 1911. when something over 36 000.000 acres were cultivated in cotton According to some of the most conservative traders it is impossible for the trade to reconcile the Government estimate of the crop 13,677,000 bales, With the ginning to December 13 of 12,923,606 bales, so they immediately ex pressed the belief that the Government underestimated the crop by several hundred thousand bales, and it was best for them to dispose of their hold ings and continue their “waiting and watching” policy. It is said that the South is holding back a good deal of. cotton, and that the ultimate ginning returns will indicate a larger crop than previ ously anticipated, while decreased spinners’ takings are looked for in some quarters. However, spinners’ takings so far this season are in excess of last year, being 6,115,000 bales, against 5,607,000 last year and 5.329,000 bales in 1911. Should the unexpected happen, which generally prevails, it would require a crop considerably in excess of 14,500,000 bales to satisfy the needs of the world. TUESDAY’S REVIEW. NEW YORK, Dec. 30,—While trading was heavy, price changes were unim portant at the opening of the octton market to-day and first quotations were from unchanged to 2 up to 1 point lower than Monday’s close. Notices for less than 50,000 bales came out, nearly all from a large Phila delphia spot house. Notices were ab sorbed mostly by the same source that issued them. Commission houses sold January, while Europe and spot houses bought Liem. The result of these cross currents of trading being to advance the list to 2@6 points from opening range. There was considerable liquidation on the call, owing to the amount of no tices issued, but the demand after the call was good. However, sentiment is against the market, and it took little selling to depress the list. It is said that a further advance will bring out further selling by Wall street. There always are some hangers-on who wait until the last minute to get out of an untenable position and these were selling December. resulting in prices easing off to the previous close. Liverpol cables were steady. The market looked soft during the late forenoon. There was a scattered long interest in January, held big oper ators who had purchased the option after the last revision, believing that this positions would sell at a good jremium. A large portion of these ines were liquidated to-day and ab sorbed by leading spot people. After the English market closed support was lacking and prices broke about 10 points from yesterday’s final. On the second break the market became rather un settled. with trading evenly balanced and prices worked a few points higher than the low point. Sentiment continued bearish and there is a disposition on the part of the ma jority to sell on all upturns, pending the forthcoming Government ginning fig ures At the close the market was steady, with prices at a net decline of 2 to 7 {joints from the final quotations of Mon day. NEW ORLEANS, Dec. 30. —Liverpool was quieter to-day, apparently await ing edvelopments on our side. Futures about unchanged. Spots 1 point lower. Attention here was centered around price changes in the January position in New York. Early advices gave 50,000 bales as tendered, mostly by MeFad- den, but instead of the expected de pression, January in New York showed strength, indicating that some strong influences are contending for the stock, and the technical condition must have changed radically since the heavy li quidation of the past week. A keen observer advances the opinion that the difference on low grades w r ill be further increased in the February revision, and that as soon as January tenders are accommodated the market will be in better shape to respond to bullish in fluences. On the idea that conditions for ten dering might be severe in March, this position is likely to keep its premium over January, and those who tendered stock this morning and met competition for it quickly boug thin notices in or der not to lose stock. Our market gained about 7 points this morning in the early trading, on the strength of developments in New York, but the advance was poorly sup ported. As usual, people appear to lose faith at the decisive moment. The break of the past week seems to have shaken confidence and a great deal depends on the coming Census report. If it should be excessively heavy, .as the last Census, the bull side would lose many friends without regard to the strong argument that such author ities as The Times-Democrat, the Gov ernment and the Turner Bureau of Memphis, are not likely to be much out of the way in estimating the crop. Should the Census be around last year's figures for the period and give the least support to the contention that rap id ginnings are misleading the world as to the size of the crop, a decided revival of confidence and action on the bull side would likely follow. In any acse. the market is now rwo-sided, and chances on the bull side are logically greater after the break than they were before. PORT RECEIPTS. The following table shows receipts at the ports to-day compared with the same day last year: 1913. 1912. New Orleans. . . 7.198 18,947 Galveston 27.500 24,525 Mobile 5,151 415 S avannah 3.053 3,705 Charleston 878 680 Wilmington . . . . 602 1.758 Norfolk 4.635 2,591 Baltimore 3,622 New York 667 Boston 146 449 Newport News. . . 4,711 Brunswick. . . . , 2,083 Pacific coast. . . . 6.199 Various 15.054 Total 59.163 85.605 INTERIOR RECEIPTS. 1913. 1912. Houston 5.944 13.071 Augusta 1.597 580 Memphis 5.695 3,320 St Louis 4.598 1.163 Cincinnati 2,245 10,943 Little Rock . . . . 1.029 Total 20,079 30.106 SPOT COiioN makKl7, Atlanta, nominal; middling 12 11-16. Athens, steady; middling 13?{ Macon, steady; middling 13%. New Orleans, quiet; middling 12 13-16. New York, quiet; middling 12.60. Philadelphia, easy; middling 12.85. Boston, quiet; middling 12.60. Liverpool, steady; middling 7.06d. Savannah, steady; middling 12%. Augusta, steady; middling 12%. Charleston, steady; middling 13V4 Norfolk, steady; middling 12%. Galveston, steady; middling 12%. Mobile, steady; middling 12 7-16. Wilmington, steady; middling 13c. Little Rock, quiet; middling 13c. Baltimore, nominal; middling 12%. St. Tamis, quiet' middling 13%. Memphis, quiet; middling 13%. Houston, steady; middling 12%. Louisville, firm; middling 12% All Holiday Goods Were Well Sold Out Marshall Field & Co., in their weekly review of the dry goods trade, says: “The volume of mail orders received during the last few days preceding Christmas was in excess of the totals for the corresponding days a year ago. This is remarKable, considering the ex tremely unseasonable weather during that time. “The numerous mail orders may be in terpreted as an indication that the gen eral distribution of holiday goods was larger than a year ago, inasmuch as the sales of heavy wearing apparel were be low normal. “The increase of last minute orders also seemed to indicate that holiday stocks throughout the territory adjoin ing Chicago were well sold out'” COTTON MARKET OPINIONS. E. F. Hutton & Co.: “We doubt any movement of consequence until a bet ter line can be had on the ginning for the last half of December.” Shearson, Hanynill & Co.: “We favor purchases on slight reactions.” S. M. Weld & Co.: “We are likely to have quiet markets, though on any setback we believe cotton can be safely bought.” MONEY AND EXCHANGE. NEW YORK, Dec. 30.—Money on call, 4 per cent. Time money unchanged. Sixty days, 4%; ninety days, 4%; six months, 4%. Posted rates: Sterling exchange, 4.82 ®4.86, with actual business in bankers’ hills at 4.851O@>4.8520 for demand and 4 8125 for sixty-day bills. Prime mercantile paper unchanged. METAL MARKET. XI,W YORK, Dec. 30. — The metal market was easier to-day. Copper, spot not quoted. January to March 14■%Cm 14%; spelter, 5 2547,5 40; lead, 4 RDM 20 tin, 37.25^37 50 How 1913 Harvests Compare With 1912 Yields in BushHs. Fi . n Q a 1 , i F Value —- Winter— \V inter ....• .'>23.->G1,000 400,600.000 $ 133 Jr, 000 1 323 572 000 bp £ n ,e 239.819.000 330 000.000 170 127.000 2 JUOMOO TotaL .... 70.,...80,000 730,000 000 J 010,121.000 $ 555,280,000 3,124 740 000 II 092 092 000 $1 520 454 000 2 at ? I,121.i68.000 J 41 3 000,0 50 439 590 000 452 409 000 » ar, *- v 178,189.000 22 4.000,006 95 731000 ' ' Rye 41.381000 3 , *0 4 000 >0 220 000 u Buckwheat . «.,».**» S2 Potatoes tl.tOl.HM Tobacco .... 19.7 ” JJ8U.SJ tBalV.: "tp’SHaJ ?T,„, ,2 **"** > r,! ’ *»M»S.0*0