Oxford eagle., 1883-02-08
HOLD YOUR COTTON.
The Advice Some Factors are
Giving Country Shippers.
fSt. Louis. Republican,

Within the past two or three
weeks there have appeared in
these columns opinions Of lead
| ing dealers as to the present
and future state of the II arket.
Some have expressed themselves
as believers that the staple
would decline and the last deal
er who wrestled with the ques-
ton was inclined to be bullish.
Yesterday one OF the most
prominent factors of the city,
and one who has long been
identified with the trade here
and elsewhere, gave his views.
He is one who thinks there is
as certain to be a boom in cot
ton as that the sun will shine
next spring. Being asked to
give his reasons he said that of
all the American products cot
ton was the only one that was
under cost of production.
Referring to his well kept
statistics on the trade he figured
awhile and then produced the
following to show what the
price of middling was on the
18th day of January iii New
York. In 1875, 13 l &c; in 1876,
IS lac; in 1877, IL 1 ic; in 1878,
panic year, 0 1.2e;in 1879, IL 7-Sc;
in 1880, IL 7-Sc, and in 1881, 12c.
The average for seven years
past for middlings cotton was,
as shown above, IL 97c, or near
ly 12c. The price in New York
yesterday was 10 3-6c,-under
the average for the past seven
years. In two of these years
we had domestic and financial
troubles.
If CORN WAS SELLING
: at the same ratio of value as
: the above, it would be to-day
7 soc for No. Q; No. 2 wheat
would be worth only 93 cents
9 No. 2 oats 80 cents, and hog
would be selling in dry salt rib
s at 6 IA to 6 IL cents.
G Speaking further on the sub
' iect the factor said: "This GRO
n has been overestimated by Eu
!. ropeans from reports from pal
r. ties Of tAe 4sf SautpAeueee tpAeuee yea,t
400 in LiverpOOl--sOme biati
eTskites now predict s cents
IS St. Louis-when we had Gro
IN equal to if not exceeding TIM
n In 1870, on the 11th day OF JAM
ie ary. June cotton in New Ior
was 1O.3Oc; or an advance
10 over 4 is cents per pounu. a
IF that cotton needs now IS Ire
n sellers. There is already a goo
If line out, and if a depression
al Q cents could be reached I'll
of reaction would be long remeI
is bered, and the advance wonl
" be entirely gagged by the pu
Of ses of the bears and the
friends to help them" An O.
Mississippi planter, and lars
'e one, says 1t would be better. Il
u, the Southern farmers to pla'
ed corn and hold their present cro
of cotton than to plant ne
VS. crop at prices ruling.
of 1t is also learned here on Il
rs, best authority that the blgge
I'M bears in the country are buyll
lat all the spots they can. In u
he city moneyed men are investll
nd in cotton pretty freely, ana
de there isn't a boom on the ro'
AL somewhere then many men a
elk. at fault in their Judgment a
s will drop a pile of money wh
,y ,ys settling days rolls around.
NO 1t was ascertained yesterd
III that some of the most pro-
Ioo' nent factors here were advlsl
no no their customers to hold ON
alu M their cotton as long as possll
70. lo If the boom comes, as is 7
WV dicted, they can sell, If not u
can wait, and by putting CO
S q into the ground where this y
on cotton was raised, the farm
run can get a profit for their lab'
ran There is apt to be some mi
AS around the boards during
ling nnyt two or three mon
mp Loading factors in the South
own cities are becoming more bul
hVe each week and the time II
anu soon come when it Will
poe poe known whose judgment was
leet best-the bulls or the bear
gers