The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-17
Yesterdays Decline in Price
of Cotton.
PLANTERS DISCOURAGED AMI
A LITTLE OUT OF HUMOR.
GENERAL CONDITION OF THE CROP
Anfavorable Reports From Every Section of the
County--Talks With Farmers and
What They Have to Say
About the Outlook.

Cotton went down almost in a slump
yesterday and the farmers that came to
market were not in a good humor. Raj
eigh received 242 bales and early in the
day the psice dropped from 69s, which
was the prevailing price the previous day
to 61h. and later arrivals sold down to
Gss.
Liverpool led off early in the morning
with a decline of 2-64 and registered an
other decline Of 1-64 in a later report
New York responded with drop OF D 10
&c points at the opening and Kept tunl'
bling until the days net decline amount
It'd to from 16 to 20 points. The local re-
ports were very discouraging and nelcner
the cotton planters nor the local buyers
could reconcile the continued unfavorable
crop conditions with the decline. Unless
the farmers are very badly mistaken the
crop in this section has been cut short by
the dry weather from 20 to 40 per cent
The reports from all over the cotton sec
tion are about the same. The dry, hot
weather prevails all about. In the face
of these facts it is difficult to understand
d
,one day. The Wake county farmers are
hlue over the situation and are not in a
very good humor.
A reporter was on Market square an
hour or SO yesterday morning and talked
with cotton farmers from every section
of the county. and if they are anywhere
near correct in their estimate OF the dam
age done to the crop by the dry weather
Wake county will not make any more. II
AS much cotton. as it made last year, not
withstand the increased acreage.
Mr.. w. II. Crowder, of the southern
section Of the county, thought that his
section would hardly make as much cot
ton as it made last year. He was just
returning from few days trip to the
KELVIN Grove section, and said that the
dry weather had injured the crop there
one fourth to one-third.
Mr.. Jesse Winbourne, one of the best
cotton farmers in the county and one OF
the most reliable of its citizens, don't
think he will get more than one-half as
much as the prospects indicated on Au-
gust i. His section will hardly make as
much as it made last year, notwithstand-
ing an increased acreage.
Mr.. S. G. Hobby, of Panther Branch
township, and one of the most substan-
tial men in the county, thought the crop
had been damaged at least One-fourth
and he would be satisfied if he made as
much as last year.
Mr. p w Dowd, of st. Mary's, don't
think that his section, one of the best
cotton sections in the county, will make
as good crop as last year, even with a
considerable increase in the acreage.
Mr.. G. p. Rand, Of st. Mary's, knew
that his crop was seriously damaged. In
two weeks, said Mr.. Rand, the cotton
will all be open, and crop of cotton that
.onens all in one month can't be an ave-
rage crop
NIr. Needham b. Jones, Of Mark S
Greek, was in the city with cotton. mo
trouble" said Mr.. Jones, "for me to tell
that my crop has been seriously damaged
and the crop is not murch more than
half what 1 expected, and had reason to
expect the LIST of August The dry wealth
er has totally destroyed the August crop
and there is hardly a boil that will ma
ture."
Mr.. H. H. Knight, of st. Matthew's,
Thought the crop was cut short at least
0ne-third and that his section would not
make as much per acre as last year.
These and like expressions could be
heard from nearly every farmer in Raj
eigh yesterday. They were not feeling
good, and therefore were not in humOr
to trade much and in consequence gene
raj business in the city was not very &C
tive.
The crsp conditions month ago were
so encouraging and the farmers were
feeling so good that the change brought
about by the dry weather goes awful
hard with them and they naturally feel
discouraged. The decline in the market
in the face of the damage to the crop
makes them still more discouraged, and
many of them are declaring that they
will hold the balance of their cotton for
higher prices.