The Montgomery advertiser., 1904-11-27
HAYWARD, WICK q CO.'S COTTON
 LETTER.


 market was surprisingly active for a Sat- urday and after the first hour following the opening there was 8 great deal of fresh in it's opinion Rs to the immediate course of prices than tt has been for long time and while there were many brokers and bear beliefs to sell short over sunday. there were also t0 be found n good many people who were eagerly going ever Sun day with long coneractn in hopes of reap. ing considerable profits next week. The growth of buiiish sentiment was almost enc tirely due to the activity. of Price. of New York who filled up his bulllsh advicas of yesterday with more dispatches today. the gist of which vas that he had covered his shorts and believed the market was a our chase for Q turn on the Idea that Govern ment estimate of the crop would not be as high as majority Of traders think 1t will be. For tho sake. of doing justice to all opin- ions. 1t must be said that some conservative traders believe Price is merely trying to boost prices so that better selling basis may be obtained Again must be said that some of the best informed people ln the local market share Price's ideas in re- gard to the Government estimate and there are even some well known brokers who do LOGO. .000. Tue market opened barely steady to Q up on a occasionally good Liv- points Private cables were that the course of ths market was due to buying for the account of Price. His purchases were timated at 30. 900 bales. After a short pe- riod Of inactivity immediately following the opening a large volume of buying orders were executed. vhseh resulted In increasing the advar ce seen at the opening At II o'clock the advance in the active positions amounted to 1e points The market closed is higher than yesterday. Weekend fis- ures attracted little or no attention. They could hardly ba called snything but bsarish The visible of American cotton was put at S.s2s.o7s bales which showed an increase over last week of 1q6, 9S6 and an increase over last year of 47s.os2
 LOvENGAN ( CO.'S COTTON LETTER.
 NEW ORLEANS. Nov. 2s.--TradlnE was active during the past week as the result of publishing of series of bulletins on the amount of cotton ginned to Nov 14th, but a9 the report to the census department in- than expected. probably about 3, ,ooo. .00o more than last years e,si6,ooo. spot and about Sc. There was little reaction today: the covering of about 3O.0VO bales short cotton in the English market influencing lAyerpool to level points higher than last niRhts closing after opening quiet and unchanged. It is probable that Europe acceptance Of large blocks of actual cotton direct from the interior had aomething to do with bringing about steadier feeling There was better demand for spots local market than buyers cared to acknowledge rive 5000, ct unchanged prices; naIddlinR. sMe, against shc last Saturday. Receipts promise to be large this week as last week 900 last Saturday, and 1t is probabIe that the weeks insight will be as large if not larger than last year. for the coming week probably soo.ooo. against s7s. 900. The at fractions during next week will be the last ana final bulletins on cotton ginned to Nov lAth. which Is expected next Tuesday. Then VIII follow the all important estimate of the Agricultural Department of the United states Government on probable size Of the crop, This year the Government win not have less than Sl.o00.00O acres to figure on, aEalnSt 2S,O00.o00 last year The actual yleld per acre last year was IF pounda and the net weight of bales 4gl poundg which IT figured on this years acreage would inc dicate a crop of 11.1sO. .000. The actual yield per acre year before last wna I05 pounds. the net weight of bales ss1 pounds, on which acreage of today would point to crop Of lASo0.0Oo The average production of lint per acre during the past five years averaged ls0 pounds. and the net weight or bales Tor the same period averaged 4sO and the indicated yield on this basis is i2 (. sOO.0oo, The popular estimate for the Gov ernment figures 10 about 1t,b0O,00O balea From present observations 1t would seem that a yield in excess of I1,500, 0OO bales would be necessary to force values lower but with the facts at hand and after naak, ing all due allowances. probabilities are that the official estimate of the crop will he in keeping if not exceed, popular expec- tations. Fearing that 1t will not Influence covering by shorts in all markets today, January opening 2 points higher than last Right. s.20. closed s.2s@9.27.