The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-08-19
THE WEEK IN COTTON.

For the benefit of our cotton
friends, we publish below the cotton
letter Of Price, Mccormick d Cos,
which shows that there has been
quite a change in the past few days
in regard to the cotton crop:
The cloud Of pessimism which
has for months enveloped the cot
ton situation is gradually disappear |
ing. Sentiments during the past
week has undergone a distinct
change, aud feeling Of greater con
fdence now prevails than for long
time past. This change has been
due TO an evident serious deteriora-
ton in crop conditions. During
the early part of the season, and
until about two weeks ago, the trade
had been proceeding upon the by
pothesis that the condition OF the
crop could hardly be better, and
large number of contracts have been
made representing speculative trans
actions for the decline, sales OF
actual cotton for forward delivery
and contracts for the delivery oil
manufactured goods upon the
theory that we were confronted with
a third mammoth yield, which the
} world would be unable to absorb
excep. at declining values. The re-
duction in acreage, the decreased
use of fertilizers, the splendid con,
dition of trade and the phenomena
consumption of cotton, were com
pletely ignored, the fear of another
enormous yield overshadowing all
other Influences As a result,
0 large short interest had been ere
c ated. and the speculative long inter
. est materially reduced. Recently
The character Of advices from thu
d cotton belt has tended 10 create ap
;, prehension on the part of the bears
!. but not until the current week dlt
=. the damage reports become sufh
GENTLY emphatic to create an.
y decided change in the temper OF th'
o trade. The advices of the past fev
DAYS from both public and privat
I-sources. however, have clearly IN
&c dlcatcd that the crop has RADICAL
II deleriorated during the past Nv
lie weeks, especially in the State 0
h Texas, where the prevalence Q
!. drought and continued hot wind
= are reported to be doing serious II
!. iury. This decline in the conditio
II of the gro~ing crop has found e.
re preston in distinct revival III spe'
ulative activity and a snbsiantli
improve ment in values. Thus ii
r the demand has come largely frol
ID the short interest, but during IL
in fbast few days there has been not
: worthy increase in commission hou
Z business, indicating revival IN i
e terest on the part of the sPeculati'
NJ public.
10 New Orleans, where large sho
to interest is supposed to exist, h
been a conspicuous buyer OF LAT
and their heavy purchases natural
by tend to corroborate the adverse Gre
rv reports which have been receive
=, Notwithstanding the advance
:, about Lac per pound which has be-
Gil recorded during the week, prices a
y, still relatively low, aud there
he abundant room for further impro'
nd ment unless the situation in Texas
are soon relieved by copious rains. .
:. there is still outstanding a very
tensive short interest, representa-
not only sales for the decline, b
contracts for the future delivery
~ the raw material and manufaetuf
al goods against which hedges have
ice been made, and as the speculate
rer public has not as yet taken any
,th- ihusiastic interest in the market,
ia is quite within the range OF pc;
billties that we shall experlect
> speculative upheaval such as has
anu been witnessed in a long time ga
In I should The cotton world become C
are WINGED that the current crop Is Tx
to be moderate one when me
ured by the standard of the pres
wed worlds consumptive requlremei
,on- The report of the Department
,roe Agriculture published today wo
IL seem to indicate that the yield '
not be large one.
see The average condition on Aug
dts lst, as indicated by the replies
ter the Department of Agriculture il
. II as compared with s7.s last MOI
!. f9i.2 on August lsi, 1898, and
) al the corresponding time in Is
'm- This report shows the follow
trict declines during the mouth OF J
on North Carolina 5 points; %
o to Carolina 10 points; Georgia,
bams, and Texas 6 points, len