Pine Bluff daily graphic., 1903-11-15
SHORT COTTON CROP
BECOMES MORE APPARENT As
TIE PICKING SEASON
CLOSES.
Arkansas Crop Shortee Than It Has
Been ANY Previous Year For
TwentY Years.
Arkaneas Crop Shorter Than It Has
REVIEW OF MARKET PAST WEEK
I've nv Ye

Based 9n The estimates made dur
ing the year and what was expected
OF the cotton cos in the field the
yield this yeaF is nearly 3.0o0.ooo bales
shert for The United States. The rea-
son for this has already been discuss
ed at length in several cotton letters
that have appeared in the Graphic.
Yet each week brings The reports
from all over the state of shorter
crops than was ever expected. Ar
kansas has yielded the sh rtest cot
ton crop this season thai has heen
yielded in the last twenty years. The
| planting al the FIST of the season Was
the largest ever made in the state
Reports of general cleaning mp OF all
the pickings are being brought in
every day. as is evidenced by the
| light weight bales Picking of hill cot
ton has been finished, and vary l:ttlc,
if any is now coming in. From the
river district it is expected tat The
fields will be cleaned next week ant,
two weeks will finish the seas On. 81
far as the farmer is ccncerne |. This
early close Of the season is due tC The
failure of the top crop which gener-
ally furnishes the late WELD The pop-
uar estimate of the yield for the sea
son is about 900 bales against ! :
o00 0oo bales last season, making a
shortage of nearly 250.Ooo bales
The tone OF the market this month
has been very "bullish, and where
this means money in the pockets of
the producer, It means an entirely
different story in the eastern manu-
featuring DISTRICTS where the large
weaving concerns depend upon the
raw material from the south to fur
nish employment for millions of labor
ers. The high prices which prevail
| in the cotton region do not mean an
increase for the labeTers in the mills
but rather a shorter season for thcm
to work short crop means q faln
inc in many of the eastern cities, and
in England, for it is soon worked into
cloth and then the nil tops.
BY courtesy Of the c. c. Taylor oy-
| change the follow.n@ ccttsn letter fo'
! the week is publ she'd:
Cott 2' Letter.
Pine Bluff, Ark, New. Il - The
clcSe of the week finds the option mar
ket at about the highest level reached
on present crop and under speculative
conditions which warrant the belief
that higher prices will ultimately pre-
vail. The market however, has
broadened, and the presence Of out
side operators whose Transact MS are
on large scale is not unlikely TO
make the situation at times ARTIFICIAL
and therefore dangerous The trans
actions during the early part of the
week were of character to improve
the speculative conditions, inasmuch
as realizing sales on a large scale
took place. and values were therefore
hardened at conservative level The
Improvement of 30 to SO points since
last Saturday must needs have been
at the expense of much of the strength
of the market, and the net advance in
futures of about 235 points since Oc-
tober 6. seems nearly enough to dis
count the spot situation as il appears
at this time
1t is true that the spot markets
have advanced with a heavy demand
for export, which has now increased,
including amount on ship board not
cleared, approximately, 2,250,000
bales, or about one-third of EurOpe's
annual requirements The worlds
supplies, however. are now nearly
equal to last year in the visible posi-
tions, and this will undoubtedly affect
speculative operations, unless per-
pendicular drop in receipts takes
place. The takings of American spin
ners still continue on moderate