The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-11-04
TEN CENTS AND OVER
Cotton Holds to the Living
Figure.
The indications are That the Market Today viii
Sill be a Good
One,

| The fleecy staple holds c,ose around the
ten cent mark, but is on the better side
of it for the farmers.
There were received here 125 bales OF
cotton yesterday and none of it sold below
ten cents a pound. 1t was 1O@1O 1850
10 49, and for fancy cotton 1914 cents a
pound.
The receipts were light, despite the fact
that the farmers know that ten cents and
over is being paid. To those who have
studied the market it means that the cot
ton crop is as has often been said, a
small one compared with the average.
The market yesterday held its own here
despite the fact that futures went off
about 20 points in New York. This caused
little furry here but did not weaken
the market perceptibly, as it was under
stood that today is election day in New
York. with no market there, and that some
parties had thrown cotton on the market
who feared to carry it over until Wednes-
day.
The prospects are that today the market
here will range from 10 cents to 10A cents
the latter figure for fancy cotton, while
10 Is will be the figure at which the
greater sales will take lace. 1t will not be
the part of wisdom to sell below ten cents
J. H. Parker & Company, of New York,
in their letter of October 30th, put the
cotton cron this year at less than that OF
last year and figures the consumption at
II ,250. 900 bales, if it is to be had, with
the world at peace and silver 33 per cent
higher than a year ago. Agreeing that
u,,n 81 ho oh no
consumption, the letter figures out that
the competition between the mills for the
cotton must carry the price up to point
that will automatically curtail consump
ton. The letter continues:
This at least seems the broad PROPOSE
ton which the cotton world has to face
The farmer sees the situation as plainly
as does the spinner, and if the latter
fondly imagines that holders are going to
follow in the path of past years, aud
stupidity market their cotton without re-
gard to price, they will wake up too ate
to their erro. We may as well realize
that this is to be bull year, and, after
fixing that idea firmly in our minds, we
can trust ourselves to measure the quail
flying influence OF such checks as may APP
pear from time to time The differences
between Russian and Japan doomed up
darkly short while ago, but, for the mo-
ment at least, the clouds have passed
away and the outlook is again peaceful.
The danger is not over by any memans,
however, and the Far East will well repay
cur watchful attention for some weeks to
come OF all the Instructions possible, to
the natural advance now apparently in
evitable. war would be the most serious:
in fact, it would completely upset all fav-
orable calculations. second obstruction
is one which, on closer acquaintance, loses
many of it's terrors. 1t is unquestioned
that trade and prosperity are on the wane
in this country, after the long period of
elation and imitation. But there is moth
ing rotten in Denmark save the ove;
promoted iEdustrials, and these have re
Gently had much of the water and wind
numerically squeezed out of them in the
stock market
The letter holds that it is idle talk of
much decrease in domestic use of cotton
goods and as silver has increased in value
silver producing countries will spend more
for cotton, and that cotton goods have al
ready advanced a cent and quarter a
pound over last years prices at this time
for raw cotton, but that advance, it con-
sders, is not sufficient, and must, and no
doubt will, be followed by steady in
crease in the value of all classes of goods
when the full measure of the shortage of
this crop and the increased consuming
power of the world shall come to be fully
realized.
The outlook for the farmer is a pleasant
one, if he will hold on to his, cotton the
momement it should by any mishap, fan
below ten cents and wait for it to rise
again.