The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-02-19
WOMAN CASHED IN
ON COTTON TIPS
100000 MADE IN IA WEEKS.
BOUGHT COTTON LAST NOVEMBER
UNDER TEN CENTS.

Mrs. A. v. Wallace of New York
Spending the Winter in Savannah.
Has Made Fortune Buying the
StapIe-DOes Not Take Advice of
/ Brokers, but Studies Market and
Conducts Her own AccOunts-Be-
Iieves Cotton Will Yet Go to rs
Cents.
BY specializing in cotton since she
has been a guest, of the De Soto. Mrs.
A. V. Wallace of New York has
cleaned up $4,000 in hard cash. Upon
an investment of $1,000, she has CASH
ed in the sum named in just fourteen
weeks.
Mrs. Wallace's account was made
when cotton was quoted at 9:5S in
the New York market. She is on
the bull" side of the market
and has bought cotton on the New
York market for the last five years.
She held on to her account until cot
ton reached the high water mark, a
few weeks ago.
Mrs. Wallace was at times obliged
to meet the margins when the staple
had a reverse ON the market. She
says that this is the only way to deal
in futures, and her experience on the
market has taught her that it is best
to meet margins, and wait for the
price to go up again.
Against Advice of Broker.
Mrs. Wallace says while she put her
account in the hands of broker who
has seat in the New York Cotton
Exchange she never takes the advice
of anyone in buying and selling. She
cited as an example that a prominent
member of the New York Cotton Ex-
change insisted that she was making
| mistake when. she invested in fu-
lures last November at 9:5S. He told
her she was making a mistake to buy
cotton at that time, but She went OIL
her own judgment and won.
| Il make it business to study ev-
| cry phase of the cotton situation"
| said Mrs. Wallace, land f1atter my
self to believe that 1 am usually we'll
enough posted to buy and sell in an
| intelligent way. There are many things
to be considered when one is dealing
| in cotton futures, and it is absolutely
necessary that you make a careful
study of the situation every day.
should study Market.
''There are many things that must
| be considered in connection with the
cotton market that would puzzle an
| outsider. You have got to take into
consideration the different estimates
| of the crop which are given out by
the government, and the large brok-
erage houses. You must consider war
and rumors of war, and determine
| what effect it will have on the price
of the staple. Then there is the dry
goods market to be considered, and the
demand for the finished product of the
| cotton staple.
when you keep posted on the differ
ent things that affect the market you
| are in opposition to use your own judg-
1 ment when the market takes a slump
You will know whether you should put
up the margins to protect your ac-
| count, or whether you shall order your
| broker to dispose of your account at
the quoted figures" ~
Cotton Will Go to 1S Cents.
Mrs. Wallace believes that cotton will
yet go to Is cents and that the Russo
Japanese war will only have a tenn
| porary effect on the market. She says
the crop is under 100000 bales, and
| the demand which now exists, not only
] lOI the raw iudISIldl DuL lOA Tie
| featured product, will certainly cause
| the price to go up.
She has disposed of her accounts and
will not make another investment until
after she returns to New York in April
| She says that March is not considered
a good month for cotton investments
| and that she is too far from the scene
| of operations to handle her stock in
the proper manner while the market is
| in guCh IN unsettled condition.
Has Only Lost Twice.
Mrs. Wallace says she has been deal
| ing in cotton futures for the last five
! years and has only lost out in two
| deals, when she used her own judgment
| in making investments. She handles
! her accounts through DR.. j. H. Parker
| of the New York Exchange, and gives
! daily Instructions by wire.
Mrs. Wallace predicts an enormous
crop for next year and says in her
| opinion the crop will exceed the II, 000,-
900 mark. This, she says, while it will
effect next years sales, cannot effect
prices of this years crop. The price for
next year, she believes, will be at q
| high figure even if the crop is increased
| by over 100000 bales, as there has
been very large increase during the
last year in the demand for the raw
| mateEial Tlzis was brought about
Mrs. Wallace believes, by the opening
of new markets in the Orient
| Fancy whole rioe no nor mound ~ 7Ea