The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-05
The Market Fluctuates
and Spot Rises.
"A HIGHER PRICE YET.
In the Rapid Advance of the Past Three
Days Raleigh Spectators are
Said to be From Fifty to Sew
enty Thousand Dollars ahead
of the Game

1t was twelve and one-half cents cotton
yesterday that delighted the farmers
The market for both spot and future
cotton has been going up for some time,
and when the government bureau report
put more backbone to it, the upward
tendency continued.
Will it go on? That is the question
that the men who sell and buy cotton are
figuring against. The market is IA such
a shape that the tyro can guess as well
as the old stager. and there are very few
people but who predict higher price than
the twelve and one-half cents Of yester-
day. The figures of twelve, thirteen, four
teen, fifteen and higher are talked Of as
prices to be expected.
Looking ahead to next spring some cot
ton men talk of eighteen cents cotton,
while from New Orleans comes word that
twenty-five cents cotton is not an impos-
sibility as there IS deficiency in the
crop and cotton viii &c badly needed at
any price before the next crop appears.
The receipts here were III bales yester-
day, the prices ranging from twelve to
twelve and one-half cents pound with
twelve and one-uua"tCr cents as an aver
age price. A year ago there were sold
here 222 bales at from seven aud sevl:
eighths to eight and one-sixteenth cents
pound. AS an evidence Of & short cror
it is to be noted that even with cotton al
twelve and one-half cents pound Tx
receipts here are light.
There are some farmers who look con
| fidently for higher prices very soon ani
yesterday a number of these declined tt
take twelve and one-half cents a pound
and stored their cotton here, waiting fol
an advance. It was stated Yesterday thai
Mrs. Florence P. Tucker had refused this
price for 40 bales from her farm.
| In the cotton exchange here the last
two days have been nervous and wild
ones. Yesterday the events Of the day
before repeated themselves and cottor
went UP and down. On some months il
| went UP twenty eight points at cliT
and the spectators were dellious.
! The fluctuations of the ni9rket have
squeezed out many men with small mar
gins, but others have reaped harvest
One gentleman yesterday was telephonet
that a certain mouth was at 1882 but il
! less than two minutes III getting TO the
| telegram office it had advanced thirteer
points and was at t2.45.
: RalCign SPECTATORS We're largely On the
bull side of he market and they have
come OFT of the deal in the last three
days winners by big mone-. There are
estimates that the winnings by Raleigi
men have heen anywhere from fifty tt
seventy thousand dollars in the last three
days.
Saturday is usually an off day in The
cotton market and some cotton men IL
Raleigh EXPECT that the market will e.
backwards today, as many speculator
will not wish TO carry over their holding,
till Monday and will unload. Yet in thc
present wild state of the market this i
hardly probable and the figures of yes
terday, with possibly a small advance
may be expected today
The market closed steady Yesterday a
the prices quoted. and this is certainly
good sign for today's operations