The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-05-30
Rarbee a. Co.'s
Cotton Letter.
Special to News and Observer


| New York. May 29.-New crop months
and crop news have been the feature TINS
| week. This from a speculative stand
point, as distant options were decldedly
more active than the old crop months, de
velopments in the last named not beng Oh
a nature to arouse very much enthusiasm
over the course of prices there. An eX-
tensiye short interest created on mis-
taken probably course OF the fall POSITIONS
brought considerable cotton and PROBES
sional operators seemed to ind more pro
fit i'm trading in the distant than IN the
near position. In this respect the mar
ket was the most important OF the early
summer as it indicates the shifting OF IN
terest to the developments OF the next
crop and not in what may happen to july
and August There has been good busl-
ness done in October cotton with prices
fluctuating extensively and very tavora-
bly for traders. This morning the Jour
nal Of Commerce published its first crop
summary of the season. This publication
has very good standing in the commu
nifty as it's reports foreshadow the Gov
eminent condition in very accurate
fashion. The condition given this morn
ing was 75. The figures are very low
lower than any one expected, and only
serve to show that the present crop mas
one of the poorest starts IN recent years
The next weeks report from Washington
is likely to be low and indicate that there
will be ground for material Improvement
in the crop during the remainder OF the
season. We are not inclined to agree with
the figures on acreage, however, as the
increase, in our opinion, IS decidedly more
than one per cent, and we shall not be
surprised to see figures of more than five
per cent. increase circulated later on
Weather at the present time IS decidedly
better and during the last ten days the
crop has made material Improvement over
the very unsatisfactory condition early IN
the month. For this reason, and because
prices have advanced to point which
discounts the unfavorable start, we are
not disposed to buy the new crop op-
tions at SIC.
The New York Journal Of Commerce
this morning publishes the following IN
regard to the cotton crop:
A remarkable feature Of the reports to
this paper seems the absolute uniformity
of influences throughout the entire cot
ton belt. The season. as already stated
seems to average from two to three weeks
late In the Cardinals the drought and
cold nights have acted as deterioating in
! duences. The growth is very slow where
cotton is already up, and considerable Is
not up yet. Planting is not entirely com
pleted, owing to the extreme backward
ness Of the season. About one half of the
correspondents report planting and re-
| planting OH a scale of rom five to sixty
per cent From South Carolina stands are
reported poor and rain is needed to bring
cotton up. Some sections, however, have
secured good stands and a plentiful sup
! ply of rain. In Georgia heavy and ex-
vessive rains accompanied by cold weather
has retarded farm work, and owing to
/ poor condition of the soil considerable re-
planting has been necessary. Reports
/ from Alabama, with few exceptions are
gloomy Much of the cotton is dying, and
about thirty per cent viii have to be re-
planted. While some sections in Mississ
/ ippi warmer weather and sufficient mois-
ture, the very general complaint Is of
dry, cold season. About twenty-five per
cent will have to be Teplanted. In Texas
the season is extremely backward, nearly
thirty days late being fair average. This
was due to the cold, wet spring, and af
ter planting the weather continued cold
but dry This produced poor termination
and slow growth and for early planted
poor stands are generally reported
We give below the results Of a careful
investigation of acreage planted in cotton,
the condition of the plant and comparisons
with last year These figures are based
on replies received from over 1900 CORE
spondents conservative correspondents
representing nearly every county in the
cotton belt. The average date of replies
is May 24th
State Con. 1903 1902 Acreage.
North Carolina 81S 91.7 In. 68,843 acres
South Carolina IT'S 94.6 In, 1851 acres
Georgia !. 80. 699 91.4 In. 1882 acres