The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-11-24
Talking About Cotton.

The absorbing interest in cotton-tke
matter of prime Importance to all as
well as of particular interest to cotton
growers and cotton spinners-causes
everything that may throw light on the,
cotton situation to be read with avidity.
The weekly letter of j. H. Parker & Co.
which appeared on Saturday is as fol-
lows:
After periods of recurring strength
and weakness, at one moment apparently
ready to take the long promised boom
to 12c., and at another wearing all the
appearance of the collapse so ardently
prayed for, the market closes the week
tamely at a loss of about 80 points from
last Friday night. Holders and spinners
have kept apart throughout the week.
and it must be confessed that the farmer
has played his hand well so far, so that
whoever wanted his cotton had to pay
the full price demanded. Exporters seem
to have filed their most urgent engage
ments, but about the time they were
ready to withdraw from the market,
Southern and New England spinners took
a hand, and the bulk of the last trans
actions have been for their account Re-
ceipts have poured in at a rapid rate,
the movement for the week being equal
to the seven-day record of 1898. month
ago the amount in sight was 100000
bales below last year. Tonight the
shortage is only 250,0O0 bales, and it is
claimed that by the middle of December,
all the shortage will have been caught up.
OF, course where the figures of move
ment of two years keep approximately
parallel. there is room for the claim that
the crop in one year. should be about
equal to that of the other, but before
that situation can develop, the Burea
Report will have been published and the
trade will have something like a definite
basis to work on. In addition to the
Agricultural Bureaus estimate, the Cen
sus Department will publish an estimate
based on ginners' returns. some time
during the first week in December. This
will be based upon the amount of cotton |
glnned up to Nov. 18th and the estimate |
of ginners as to amount remaining to |
be glnned. Last year the financial re- |
ports of these two departments were
strikingly close, and both of them very
accurate in forecasting the total yield |
1t will be interesting to see how they |
will compare this year. At any rate, |
there will be no lack of official pro-
nouncements on which the public may |
hang its opinion
Comparison with last year in other |
directions are rapidly getting closer las |
already pointed out the amount in sight |
is only 100000 bales less than last year. |
The visible supply stocks at Liverpool
are already about equal to last year.
Only at the U. S. ports and interior
towns is there any shortage. 1t must be |
remembered, however, that the supply |
OF cotton everywhere at this time last |
year was by no means ample, and only |
the belief in estimates then current of
111A to liz millions kept prices down. !
and prevented them from seeking the level
which they reached when the true short
age of the crop became finally too plain
for any doubt. The details of Mr. Eli
sons revised estimate of consumption
shows that he claims the world will use
100000 bales less than first estimat ed,
as a result of the higher prices estab-
lished during the past 80 days He goes
further and figures that 100000 bales more
of East Indian cotton will be utilized
to replace high-priced American cotton,
and American mills are put down in his
statement as requiring 100000 less than
last year, owing to the industrial de
preston in some parts of this country
Perhaps he is doing wisely in cutting
his suit to fit the cloth, as unless d
crop of 10,550, 900 is made, it cannot be
spun up, and the problem of the size
of the crop is yet in serious doubt
81 am holding my cotton for twelve
and a half cents" said State Senator
Herbert E. Norris yesterday. II would
like to have fifteen, but when it gets to
twelve and a half cents l intend to
SELL"
OF all games of chance matrimony is
the most hazardous.