The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1902-11-04
j. III. Parker & Co.'S
Weekly Market Letter


New York. oct &l-Thc market has
been narrow ard Irregular. ana III, trans
actions smaller than Tor several weeks
past. While the tendency has been
downward it has been more due to un
absence OF support than 10 aggressive
short selling. The factors in the -i;la-
ton have not changed materially .y-
cept a tendency GA the part 81 local
operators TO Increase crop estimates.
There il. however. a wide difference Of
opinion among conservative people on
this point, Ne are stu disposed To be-
lievc that this crop viii prove only q
moderate, II not a smaller one than
last year, for the great majority u our
private reports indicate no material in
crease in the crop By reason OF the ia
vorable weather during the month OF
October. This is especially true OF
Texas, where We are led 10 believe the
new growth has como 100 late and can
not mature unless the weather should
continue warm and favorable until after
the first OF December or later. which can
hardly be expected. As stated in prcyi-
Gus letters any increase in the crop over
that Of last year must come mainly from
the State OF Texas. for while 1t IS con-
ceded that there Will he larger crops in
the states Of Arkansas. and North and
South Carolina, yet this increase VIII be
more than Offset by the loss in the re-
naming states.
The Journal of Commerce ard COM.
mercial Bulletin has printed this week
reports from some 500 correspondents as
to the condition OF the crop. averaging The
date of October -. and in its summary
states that 100 expect q crop OF about tho
same as last year, 29s expect an in
crease over last year, and $50 claim a
= smaller crop. These reports would in
dictate that about 20 per cent OF the crop
has already been picked. As TO the con
dition OF the crop 1872 or the correspond
ents state hat no change has taken
place since September, i2l report inn
p-ovcmcnt. and 199 deterioration. All OF
these reports indicate a slight prospect
of a top crop. unless frost should be de
layed 10 q very late date. TIL" reports OF
this paper are in keeping with many pri-
yatc reports being received hcre, ospe-
cially in regard to the state OF Texas.
where the boil weevils are still reported
as plentiful and damaging tho nee
growth. The weekly crop weather report
stated that the weather had been favor
able for picking. ana that it was nearing
completion in NAM sections. IT stated
that there was a fair prospect OF a top
crop in the Northern portion OF Texas II
there was no killing frost in the near
future. but that in the Central and South
ern portions OF the state owing to boll
wecyils and worms the top crop amount
cd to little or nothing. ON Wednesday
and Thursday reports Of the lowest tenn
pcratures Of the season were received
from all the States with the exception
Of Texas. and these temperatures varied
from 80 to IS. Their effect uvon tho
market was rather disappointing. mas
much as they caused no advance. bat
their effect is likely TO come later ia ia
vorably influencing prices. Receipts for
the week are smaller BY comparison
with those OF last year, while the ex-
ports have continued on a very liberal
scale. Today the exports were -. 900
bales. while port receipts We're only -
GEO bales.
We regard the statistical position as
exceptionally strong. recalling that the
invisible stocks in the world were IN
usually small on the first OF September.
and the exports 10 date have no .oubr
been needed 10 meet the immediate re
quirementa rather than for future sup
plies. The immediate course o. prices
will depend largely on weather condi-
tione, but considering that prices are
now 10 20 80 points below the nigh level
for material decline. and believing that
this crop is only ] moderate one we can
see iittle risk IN buying around the pres
tnt Level % prices.
J. Il PARKER Z co