Pine Bluff daily graphic., 1903-12-04
INtIEIIi4 i4|LLII STOP?
.-AT IS TEE QUESTION BEING
ASKED BY TIE LOCAL COT
TON MEN.
Prices kesp G ~ 6zza56s oa Bos1
siae5 CT tse Po5c ard t7s End
Net Yet IL 84a7tz
INTERESTING COTTON LETTER
Nzs----sssss.a

INTERESTING COTTON LETTER
Where viii COTTON stop Is the
question now he4s asf-aa bHtUe=eotten
men in this city. Corresponding to the
wild flight of the Ame1iea4 markets
yesterday the Livefp=9 market weft
up 10 points, which means 81 American
points. making the foreign markets ey-
en- higher than those al home. NW
York and New Orleans each responded
by raising 20 points although futures
took drop. The wild daHs of Thurs
day find an echo in the prices today.
Locally there has been no material
effect of the sudden rise that has been
felt, Most of the cetton men had been
saving their cotton in view Of the rise
and not bear vas to be found on
the local exchange The market is so
high that very few investments We're
the selling off of the cotton already on
hand
BY courtesy of the c. c. Taylor and
company exchange the Graphic prints
the following letter showing the effect
of the big day on the markets of
the world:
Cotton Letter.
Of all days this was the most event
full in cotton that has ever been eXpe-
rienced. 1t was bureau day in every
SENSE of the word There was a large
representation from neighboring states
visitors being SO thick on the floor Of
the exchange that the floor committee
was obliged to separate them from the
, excited brokers in order that the 1arg-
| est business ever transacted in this
market could be properly handled. Or
were so crowded with business that
there was no time to bother with ges-
market there was no let up in the vol
ume of trading until the very closing.
in fact, it appeared as if operators
had become so intoxicated with enthu-
siasm as the market went skyward as
to forget what price they We're paying
for the staple. Opening prices were
about points higher than the closing
Of last night, March 11.97, and on a
burst of profit taking sold at 11.SS. At
! the reading of the government crop
estimate at II a. m. March stood at
1890 The official estimate was for a
crop of 1862, ,030. The report was re-
| ceived with a cheer that was heard in
| the days of o1, and with it started the
| their effort to fill orders predicated up
, on such a small estimate the market
advancing 60 points within eight min
utes, March selling at 1.50 and May
at 1851 at Hos a. m. The news was
yet to reach the interior and no doubt
excitement was just as great in the
small exchanges through the south as
it was on the floor of the local build
ing.
There, after realizing, a colossal sale
took place and the market was held in
check at 1880 for March. However, al
offerings were soon absorbed anc
with knowledge that spot markets were
one half to three-fourths cents up,
shorts, as we'll as longs were after
contracts and the market was so af-
fected by the unlimited buyers that
, prices were practically lifted s. per
bale from the lowest of the day, March
11SS to 1880, July from 1902 to 13, ac
| cording to Mr.. Hester 4,991,9S3 bales
were marketed to the end of Novem
ber, last year 5,059,622, and on the
basis of the government estimate for
the total crop about half OF the crop
has already been disposed Of.
Therefore the advance today mean