The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1901-12-13
COTTON WENT UP.
The Government . Report Caused
Panic on Change,

p
Trading on tho local Now York cotton
exchange Tuoaday Of lest week was CON
vulsed by the publication Of the No.
svomber governments estimate Of short
cotton Drop for tho year, The figures
were 8, 674 900 bales OF nearly 2, 600, 900
bales less than the trade gonerally OK.
pected. Cotton jumped 50 a bale in as
meny minutes. amid soenes Of exotic
mont rarely soon. Brokers fought with
oaoh other to covor short contracts and
tho pit became pandemonium for GOV.
eral minutes after tho report was ro.
oeived. S, 4 NJ ~ i
For throo hours thereafter the vol.
ume OF business transacted WAS onor-
nous. After the frat advance of near.
~ forty points a slump developed which
carried prioos nesriy half way back to
tho quotations prevailing before tho
figures. were made known. Before the
close, however, the loss was regeinod
and pricoB woro at their highest. The
market Vas exceedingly fevorlsh during
the morning trading and brokors wore
,notinoiined to enter into any commit
'monts, prior to tho pnblioation Of tho
government report. The principal op-
lions were solling about 7.60 oents q
pound. Within three minutes after
the report was road tho tape recorded
advances OF 40 points in all the options.
Eyory ono talked 8 cont cotton and
when the markot closed brokers' were
wondering what influence the report
would hayo ON Liverpool market, for it
is generally understood that Liverpool
eetimates woro exceedingly bsarish.
Tho honsoB with wire connections in
the South did an iinmenao amount Of
business, mainly profit taking.
THH REPORT. II,
Tho statistioe Of tho department of
agriculture reports 1874. 600 bales az
tho probable cotton pro aucllon Of the
United States in 19Ol-O2. The area
picked or TO be piokod 10 estimsted at
26. oO2, 239 acres, q reduction oil 730, ,2l6
aorcs or q 8 per cent. from the acteaso
planted. The total produStion OF llnt
cotton 10 estimated st 4. .629, 954, 600.
pounds, an average Of 1863 pounds psr
aore picked or to bo PICKED. This csti
mate production by States, in pounds
OF lint cotton per ACRE, ID 40 follows: !.
Virgins, 176; North Oaroling, l42;
South Uarolina, l4l; Georgia, 1877; Flor
ida, III; Alabama, 156; Mississippi,
20b; Louiaiana, 26O; Texas, 1869; Ar.
kanaas. 173; TennosSoo, 1876; Missouri,
l96; Oklahoma, 1876; Indian Territory,
2l4. q,
In addition to the departments ordi,
nary crop reporting agenoioa, ], 16, ,000,
ginners and 5000 bankers and mer-
chants. have iurniuhed valuable infor..
NATION conoerllng aorcago aud produo,
,tion. THO ginners have also reported
the amount Sof cotton ginned botBeen
sa MSyR 30 this yseg
;Woish per bale and the average va AIT
of bagging and tics. This has enabled
the sts tiBttoian TO aaocrtain tho average
MOI woight Of bales for caoh separate
State and for the entire cotton belt.
and thoae Weighta have boen used in de-.
tormining tho total number Of bales
produced, which is believed to be The
loWont average In at least 10 years. The
large number of light bales being
marketed and also some reduction in
the proportion Of light seed cotton are
subjects Of frequent comment by cor
respondents Of all Glasses. .3 I,
3lfAf.tfSfr ~ s43 M
A Little Boy Stabbed. s