The Caucasian. (Clinton, N.C.) 188?-1913, 1904-12-08

dossfamssi tsiisaie Shavs ta~nsss
fsss sss:e cid sf le,isa
A SENSATIONAL plop N Pllus
Creates. Surprise ss ssy os~sr-~sss
Estimate ss lsss Nssrxs Fee esars
Aaxlra even r.ass - Ms<n -
i.ooc 900 nslss

w.sataxton. Special rrwlssa..Ary
returns 10 the sAlst of ,Ae usfs.a ef
ssat.etsrs. Israssmsn, o. Axrs<zlgase.
sho~f = total pFoasSiiu~. g. ezssien IN The
United States Ia the year isst-isos. ef
/. Iss. 60 bales. Kunr4 hAiss have se~a
.nrlu1ed in this estimate. asa reduced
20 their equivalent n square hsies-
The estimate does not inclaas ilstsss.
rhe estimated production by s;.ses ufti
be made pebble ner a, II = N
In The preparation aad issuance u
he ootioa report. Secretary Nlisnf
gave demonstration 81 the pFecaa
tons taken to avoid adsance iafoTma-
Ion leaking oui. Representatives iaF-
scsz. 81 Tes - AuG RauKdsil. Of t>oaisI-
lnf -ere invited hy the Secretary to
witne-z the preparation q the ssii-
mate. The party vas Looked IN The
private Office Of The siailaucsn. AMI
the reports from all the cotton dis
ricts we're taken Into the room. The
ioorx were locked from the outside.
and the Secretary then gave orders Tor
the opening Of the report, Th. es'l-
mate of the crop for tho year iso&-isos
vas then prepared and sent out. before
| my person in the room VAS pfemiocd
4 20 leave or communicate with any per-
\ son from the outside In thIa manner
+ the cotton estimates are Invariably
made" said Secretary Wilson. and all
Human INGENUITY is used 10 preser;
leakage of information"
New York. Specialize govern
| rent estimate CT the cotton crop. plA"
ing the yield at IL. Is2 900 bales. issued
Saturday. was a surprise TO more peo-
ole. perhaps. than any government re-
port OF recent years. While few OF
lhe more extreme bears had been talk
ing l.. ZOO 600 bales or over. the aver
age opinion even In bearish circles To-
cally, was that the government es'i-
mate would be under that figure.
The announcement WAS followed ~
another sensational break in prices.
The decline that has been In progress
now for over a month and carried the
market down from IL cents % sh cents.
proved insufficient :n the estimation OF
The trade TO fully reflect the new con-
iIt,on OF affairs, and O crop o. the sire
reported. There was undoubtedly q biz
short interest In the market. but In
,pite OF covering. prices declined near
Ily half a cent In less than an hour Oh
trading. January. which was SOLD
,roune. $50 during the forenoon. was
depressed TO about $40 and other
months suffered in like measure. The
market was very excited. with trading
exceedingly active.
The official close was barely steady
At a net decline OF 81 TO 81 points. with
January. which had closed on yesterday
At $50. quoted at cents. and March
At $50. The business was enormous
and. In spite OF additional wires secur'
ed for the day by some Of the houses
here we're many orders remaining un
executed after the close OF the mar
set. when sales put IL UP abou. GOO. .oo'
bales. This. IL was said. led TO . con
siderable volume Of trading In an un
official way after the noon hour. Quo
.atione on these transactions. 30 IA
AZ could be iearend. ranged withi'
about 3 points OF the closing hsures
March. It was reported. sold aronn'
an