The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-01-19
MARKET IS STEADY
Cotton is Inclined to Lin
uerAbout the Fourteen
Cent Market.

ket here Yesterday and cotton sellers
who came in with their bales wore glad
faces.
For fourteen cents ruled the cotton
roost, and that splendid figure was paid
for most of the bales that were sold on
this market, it being only cotton thaC
was off color that fell below this tat
figure
The receipts here yesterday amounted
to 50 bales and the prices paid ranged
from 13A cents to IA cents a pound. A
wear ago % bales were sold at from S7s
to 8 cents pound.
The market seems now in steady con-
lition, unaffected by the talk of war in
the East If nothing outside tends to
make conditions get out of the normal,
there is every prospect for gradual adj
vance in cotton figures as the receipts
fall off.
Daniel j. Sully, the cotton king and
leader in a number of bull campaigns, is
in New Orleans, where his firm has late
" paid $4,000 for a seat on the Cotton
Exchange, this being the highest price
ever paid for this privilege in New Or
leans. He was on the market there last
week but did not bid in person, leaving
this, as he always does, to his represen-
tative.
Mr.. Sully has been one of the most
successful cotton spectators IN this coun-
try. In the last few years he has cleared
up several fortunes. and it is said that on
the last bull campaign alone he made a
profit of $10,OOo.000. In the most exciting
times of campaign he is always cool,
but he is likewise always alert. Few men
have a keener insight into cotton and
business than he. and what he says will
be read with interest. In talking about
cotton while in New Orleans, he said on
being asked by a representative of the
Picayune if he expected cotton to go up
higher:
81 do and very much higher Cotton
will remain at it's present level, and then
go even higher, due to the actual supply
and demand If there is war between
Japan and Russia it viii not seriously CT
feet the market, and what effect 1T will
have will be of bullish nature.
ANY persons having cotton need have
nothing to fear from the war War be-
the cotton production in those countries
will be considerably curtailed, while the
consumption in both countries will be in
creased threefold. Every man who holds
a bale of cotton in the South should fear
nothing.
II do not believe that there remains in
New Orleans enough cotton unpledged to
supply the demand of the mills, and the
owner of bale. therefore, can under
stand what his product is worth.
"As for the general condition of the
South. I can speak only from what 1
have head in the newspapers, but judge
that the South is very prosperous. But
it is nothing to what it will be. 1t is
marvellous country and will naturally
reap a benefit from its own source of
supply"
'It is inevitable that the price of cot
ton should go higher" said Mr.. Sully.
''The supply of cotton will meet the de-
mands of consumption in the next five
years There is no question but that the
Southern farmer will be enhanced, but it
behooves him to study his business and
improve it. He should look carefully in
to the selection Of seed. and should be
get ust as much for big crop as for a
small crop He will be benefited and the
whole world will be benefited with him.
ut is natural that the cotton acreage
should be increased, but any increase will
be dependent upon the supply of labor;
but there is no question that all the cot
ton produced will be consumed"
Mr.. Sully holds that the present serious
condition of the cotton market which is
threatening the textile industry of the
world can be traced only to the impover-
ishment of the cotton seed. Even though
the situation may be serious today. and
even though prices are high today, the
condition will become more serious and
prices will go higher year after year, un-
til measures are taken for the planting of
the proper seed for the growth of the cot
ton crop. The curtailment of the cotton
crop is natural result of the growth of
the cotton seed industry.
Cotton is the most valuable money
crop in the world today. 1t is used in
more OF the worlds staples than any
other of the earth's products, and its
uses are constantly widening Yet today
we are confronted with a condition that
means constantly shortening crop 1t
IS IDLE to charge the great advance in
prices to manipulation of the market, to
weather conditions in the cotton belt, to
lack OF moisture, lateness of planting, or
to any other of the stock causes Every
student OF the cotton world will come
back TO the basic trouble, the impover-
lshment OF the cotton seed
we cannot look for any change in the
South untii the danger from the impov-