The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-20
Cotton Causerie.

]. H. Parker & Co.'S latest cotton lei
ter is as follows:
'"Thc market has shown strength and
an upward tendency throughout the week
and transactions have been ON a large
scale. The reactions have been smau
and mainly caused by long holders real
| izing, but 1t has strengthened the market.
The principal bullish factors have been
| the large exports, firm Southern spot
markets and rapidly decreasing stocks at
all interior towns. Receipts have con-
tinued liberal, but the shipments have
+, been much larger and stocks are very
much smaller than last year. The reports
| from manufacturing eenters in Europe
and on the continent are most enconrag-
| ing, and this is emphasized by the large
| exports which are now over 100000 bales
ahead of last year. In fact the exports
have been on such a large scale that less
attention is now paid TO the liberal
movement Our domestic mills are doing
q profitable business and the price OF
cloths in many lines have advanced. Print
cloths are now quoted at SIC.
"The prevailing sentiment is decided
| ly bullish, but the market may continue
| nervous and sensitive until there is a
permanent falling off OF receipts. Our
advices from the South are still TO the
effect that compulsory marketing OF the
cron has caused the liberal movement,
and at the expense of receipts for the
| balance Of the season. 1t Is conceded
that our domestic mills have not yet Sc
cured their supplies for the season, and
a great many of them still pursue the
nolicv of buying for immediate require
ments. This condition is to be kept in
view should q crop of less than 1014 mill
| lions be indicated, and our general in
| formation leads us TO believe that 1t VIII
not exceed that amount.
| "Renorts from the wooden trade show
decided Improvement, and this Will no
doubt have a sympathetic erect on col
| ton goods. A strong feature In our Judg-
ment fayoring higher prices Tor raw ma
! terial Is the improved trade conditions
| throughout the world, including China
! and Japan. Our advices from the At
lantic and Gulf States indicate consid-
cradle reduction in acreage Tor the coming
wear. but we do not regard this as iac-
tor in the situation at present.
cat the close of the week the market
shows underlying strength with the
March option selling from lO 10 10 polnts
above the later options"
"All cotton bales have been light this
season" said Representative Chears
of Buford township, Union county, 10 the
Monroe Journal. sit is said TO De a
never falling sign of short crop, -ana
when heavy bales uniformity come TO
market, it is certain that there is big
crop. Let every bale be short from ten
, to fiftv pounds and it makes tremend-
Gus shortage In the entire crop BUT
YOU notice. the size of the bales is never
mentioned, only the number. This is one
way the bulls have of keeping the mark
Of down. But | saw in the papers the
other day something that got ahead OF
anything yet. Some days ago a Raleigh
man was in New York, and asked at the
cotton exchange what the receipts at
Raleigh were that day. The reply was
1853 bales The Raleigh man said 10
himself: That's queer. | do not believe
the receipts are half so large as that
He went out and telegraphed the seere-
| tary of the local cotton exchange there,
who replied that the receipts were 1913.
The manipulators had raised the hg-
ures' and made them 1853, coolly adding
couple Of hundred The Raleigh man
went back to the exchange, and without
saying anything more about the receipts,
asked what was the amount of cotton
In the warehouses at Raleigh. book
was opened and he was told unblushingly
5000 bales 1t nearly took his breath,
as he knew we'll there were not 5000
| bales in warehouses, and the entire re-
ceipts so far this season are not much
| over 5000