The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-09
AND It RALLIED.
Bears Fail to Push Cot
ton Down.
The Local Spot Market Shows No
Change and Cotton Still Sells at
1912 Cents a Pound.

The local spot cotton market had a
weak spell yesterday morning and it was
feared cotton would go down.
This was a sympathetic weakness, re-
spending to fluctuations in the future
market Early in the day the bears at
tempted to make a raid and lower prices,
and while they were for a short while
successful the effort failed.
For the bull clique went back at them
and cotton revived again so that at the
close of the day the market was lower
by but from four to five points than
the closing on Monday. The local mark
ct here went in unison with the future
market.
These temporary set backs are to be ex-
pected but back Of every argument that
may be advanced that cotton may take
a sharp decline is the fact which is now
very generally recognized, and that is
that the crop is certainly a small one
With consumption increasing and not
enough cotton to supply the needs OF the
world the market must keep up, though
the prices may vary.
The receipts here yesterday were 1863
bales, and the prices from y to 1919 cents
ago there We're sixty-two bales sold here
at an average price very close to cents
a pound. One bale was bought here yes
terday at 10 9-16 by Mcssrs Darhce &
Company, this from Mr. j. w. Penny,
who comes from near Penny's pond.
Speaking of the general market well
informed cotton man of Raleigh, ex-
planned the situation of the market yes
terday as follows
'The course of the market during the
morning showed strong indications of the
work Of the bears in forcing prices down,
but then they got frightened and stamped
ed, allowing The bulls to recver the lost
ground.
Speaking of the meeting of the cotton
mill men in Charlotte, he said that the in
dications were that there would be no
definite action taken and that even if
there was it would not affect the course
Of prices, as the advance in the price of
cotton is based upon the strong statistical
position of cotton in the world. "The
East Indian crop sid he, lis short and
while the Egyptian crop, it is not
in competition with the cotton of Ameri-
ca" He holds also that the Continental
spinners are rs bare Of cotton as are the
American mills.
Here is a declaration which he makes
that will be read with interest He said
THE spinners can afford TO manuiac-
ture from cotton costing II to II l-2 cents
a pound and make money at the cur
rent price OF yarns. 1t is different with
the cloth people, but the cloth market
is bound to advance. Ny advice to the
merchants is that they buy up cotton
5sr~i lfss. tgr to Il
vance. If 1 were a merchant would
lay in a years stock ahead"
From the farmers who were here YES
terday again came the report of a crop
nearly exhausted. Mr.. j. R. Johnson,
who lives near the Wake and Franklin
lire sold his last bale yesterday and says
are two gins near him and that at these
there ere not half dozen bales in the
yard.
Mr.. G. W. Stevens, who comes from the
lower part of the county said that on the
land where he last year made eight bales
this year he had made six, and that he
Ind sold four bales of this, I'm my sec
ton little cotton is left" he said.
This is the story from all this section
A short crop and but little OF it lett
the larger part OF it sold
FROM COTTON MARKET
A Raleigh cotton buyer had his ears,
both OF them, close to the ground yestel-
day, ard gives the following report CT tAe
days proceedings in the cotton world To
those who want tips" the lltormaticn -
git edged. Here are the bulletins:
8 a. m.-Liverpool weak ana unable 20
be up. Doctors Brown and Suliy nave
been called.
$3.50 a. Unsupported that Liverpool's
physicians wall administer that well
known remedy for weakness, "Bul Aoot
Tea
10 a. m.-Doctors Brown and Suliy have
lot arrived. Market still weak, and TWO
more patients have severe attachs--Ne"
York and New orleans.
1920 a. m.-Doctors Sully and Brown
arrived with two large hypodermic
syringes.
II m.-Pat;ents have had two hypo-.
derrnic injections and improvements very
noticeable Liverpool rallied considerable,
and on Doctors advice Will stay IN from
now until tomorrow morning
1880 a. m.-TelegraCn received from
North Carolina Spinners' Association that
thew could not spin cotton at lie. per
pound. On strength of this information
Doctors Sully and Brown purchase TWO
more syringes.
Noon.-Patient's temperature now 1872.
1890 D. m-Calamity looked for. Ii
found will certainly by lynched.
/ D. Enlightenment intense. The my
terry deepens. The Doctors still at work
and both Mr.. New York and Mr.. New
Orleans able to be up and walking about.
1850 D. m.-North Carolina spinners' AS
ISOLATION wired Brown and Suliy TO LOOK
over the human nature OF the case ana let
moderation be their guide
2p. m.-Patients resting easy
23O p. m.-Patlents had siighC sinking
spell. Rally looked for alter good nlsts
rest
3 n nat this hour both New York
o,J NJ. n,leo71G were STEADY.