The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1883-01-27
Hold Your Cottonl
from the St. Louis Republican ]

w lhHin tue pdob t"u VI NhiC hcShn
there have appeared in these columns
opinions Of leading dealers as to the
present and future state Of the mar.
ket. Some have expressed them
selves as believers that the staple
would decline and the last dealer who
wrestled with the question was rather
inclined to be bullish. Yesterday one
of the most prominent factors of the
city, aud one who has long been iden~
tilted with the trade here and else~
where, gave bis views. He is one
who thinks there is as certain to be a
boom in cotton as that the sun will
shine next spring. Being asked 10
give his reasons, he said that of all
the American products cotton was the
only one that was under the cost of
production.
Referring to his we'll 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 in New York;
In 1875, 133c; in 1876. 134c; in 1877,
III; in 1873, panic year, 94c; in 49,
70, 1870; in 1880, 11Bc, and in 1881,
lie. The average for seven years
past for middlings cotton was, as
shown above, 1870, or nearly 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.
Ii corn was selling at the same ra-
ito of value as the above, it would be
to-day 36c. for No. 2; No. 2 wheat
would be worth only SO cents; No. 2
oats 30 cents, and hogs would he SELL
ing in dry salt q ribs at st to 81 cents.
Speaking further on the subject the
factor said: "This crop has been
overestimated by Europeans from re-
ports from parties Of the South, one
Of whom predicted ten pence two
years ago in Liverpool-sOme blath
erskites now predict 8 cents in st.
Louis-when we had crop equal to
if not exceeding this. Iu 1879, on
the 18th day Of January, June cotton
in New York was 10 30c., or an ad-
vance of over cents per pound.
All that cotton needs now is free SELL
ers There is already good line out,
and if depression to 8 cents could
he reached the reaction would be long
remembered, and the advance would
be entirely gusged by the purses Of
the bears and their friends to help
them" An old Mississippi planter,
and large one, says it would be bet
ter for the Southern farmers TO plant
corn and hold their present crop Of
cotton than to plant a new crop at
prices ruling.
1t is also learned here on the best
authority that the biggest bears in the
country are buying all the spots they
can In this city moneyed men are
investing in cotton pretty freely. and
if there isn't boom on the road some
where then many men are at fault in
their judgement and will drop a pie
Of money when settling day rolls
around.
1t was ascertained yesterday that
some Of the most prominent factors
here were advising their customers to
hold on to their cotton as long as pos
sible. IF the boom comes, as is pre-
dicted, they can sell, if not they can
wait, and by putting corn into the
ground where this year cotton was
raised, the farmers can get profit for
their labors. There is apt to he some
music around the boards during the
next two or three months. Leading
factors in the Southern cities are be~
coming more bullsh each week and
the Time must soon come when it will
he known whose judgment was the
best-the bulls or bears