The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1891-11-26
THE COTTON QUESTION.

j. McD. Bruce, of Hagood, Bruce s. Co.,
he's shown rs the cotton circular issued by a
Hopkins, Dwight & Co., dated the 9th OF !,
November, 1891. After saying that the =
spot sales have been short, and reviewing h
the October prices in the Contract Market,
they conclude this branch Of the subject as ,,
follows: :
The buying early in the month was due /
to reports of killing frost AMI low tempera-
| turc IN the south. The Bureau report was
not very good, but all other influences were
completely overshadowed by the enormous
movemc'i Of the crop. Killing frost has
been reported from numerous places, but
many advices indicate that but little day. ., :"
a9e had been done on account Of ~, sose .
> weather and small top crop, whi)s~c oisHell
of the crop, yet their -;siils mom volume
staggered every opse," he III Is surprising
/ that there has n0s6ciate6 ia greater decline
It under their<nlstratic't.
suit in = has has been % much l less diSpo po,
Is take the Bear side s and sec nc
u nSseuccmcnt to buy. Our stock Of cotton
spT1s almost all hedged by sales Of contracts
to and therefore represents long interest il
,;a the market We think the short Interest
I'd has been increasing of late, and the "Beals'
'et are now quite confident that the markc
|
,cb these circumstances the market gives way
- slowly but steadily, and will not change
'o' until sharp drop in the receipts comes.
The following very pertinent remark
arc made on the Crop Prospect:
I'ef We are in decided minority but thinl
be this crop may prove very much less thai
lnts current estimates. No one can tell unit
;tv. December or january, for receipts are no
till then any indication. The weather la
"s been almost tho reverse this fall, of las
and lycar, then the rain and late fin added Il
least one million bales to tho crop. Thi
year Il hot dry September was followed b.
very extensive killing frost in October an
chd very low temperature. Last year pickin
lhcr continued until spring, and no killing froS
This until December 9th. Last years crop la
'ov as, s0Ve S'', we, sntS fa m op pUG, pU
he til December; this year very dry, with xii
unt ing frosts October Sd to October 10th
ON many sections. The popular idea of TN
oo crop is now about = million bales.
Here is also al instructive paragrap
from what they have to say about Trad
or, Conditions:
,ho 1t is said business with the East Indit
=. would be better if they were not afraid {
IL some more wild silver Legislation by IL
what United States We have managed to bl
both $4,000 tons Of silver, put it in o,
the SM,l's' W,' anu SUI plices iot SILVER uecllh
our government! 1t will continue to- d
range trade and be Il menace to the priCc
Ons, silver for no one can permanently dc'
It of lhc laws oil supply anu demand. "olh
o,. countries arc reported as doing n fair bus
o''' ness in Manchester. but the general trat
Tor outlook is worse than year ago.
ator In regard to the prospect in general Il
re- circular concludes as follows:
i'll be As stated last month, the statistics arc
it is against high prices and we can add but |
tie to what was then said. The planters
the south arc marketing their cotton We
.xtra freely fearing 20 hold and make such
,,.,.. vcic losses rs they did last season. So 10
yam. rs receipts are so enormous, there can
lonal no permanent Improvement. AS our
unity vices indicate that planters will sell free
besc again ut any advance Of Ac. On &c, any i
.,~, provcmcnt is likely to be temporary III
"'o"' something more decided can be learn
. 1t about the crop. We do not see nnythi
study but lower prices ahead, with commcrc
n,scc crop of = million bales. BY Il comm
cial crop we mean the quantity of C0tt
marketed from lst September to LIST S.
tcmber.
more Cotton is low in price, and we may Fl
ckcns buyers Tor inns crop even II large one,
o,o, or about 75c. in the south on account
its unusually fine quality; but we arc trc
TIC ing new and untricd ground in the histt
>cnds of cotton, and predictions arc of little val
as 10 These quotations throw much light on
one situation, coming as they do from sue
rther trustworthy source. There is much in
iCnal assertion that 'pre,lictions arc of little ,
The ue," but it is plain that this years cxpt
s all cncc will be worth millions to the south