The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-01-16
HIGHER AND HIGHER
Cotton Jumps Past Four
teen Cents Yesterday.
A Demand From English Spinners
Affects Prices and Indications
are for Higher Prices Than
Present High figures.

| Higher and higher scars the price of
cotton and prices that earlier in the sea-
son were not dreamt of, are now realities.
Fourteen cents seemed a long time
coming after the high mark of 10 cents
had been reached, but yesterday it was
not alone IA cents, but IA 1-16 cents that
was paid on this market.
The better outlook in the East had its
effect on the market, but the underlying
cause is the short crop. More and more
is this being recognized and since the
coming of the new year the receipts have
so decreased that the bears are fully real
izing that it is landslide for a small
crop.
The receipts here yesterday amounted
to fifty-seven bales, the prices ranging
| from 1873 to II 1-16 cents a pound, the
majority of the sales being made at IA
cents pound. On the same day in 1903
| there was sold here twenty-four bales of
cotton at from S1a to SIS cents a pound,
the advance over that day amounting to
about $3.50 a bale on a 500 pound bale
of cotton.
Will cotton advance still higher? There
seems nothing to keep it back unless there
is "a great clash in the East and even from
this only a temporary set back could
result. That cotton will advance is
generally conceded and the wise mill men
are buying in at IA cents as fast as posi-
BILE.
Said a prominent Raleigh cotton buyer
yesterday, in talking of prices. Il believe
cotton will be selling at Is cents on the
streets of Raleigh by the first of Febru
ary." He is careful man, yet while he
may miss it few days, Is cent cotton is
certainly to be expected at an early date,
and Sully says that before summer we
will see II cent cotton.
There is some idea among cotton mill
men that they are being "equeezed" by
cotton buyers, and are being made to pay
too high prices for cotton. Yesterday a
cotton buyer here offered cotton to al
mill man of this section for a figure
which the mill man refused. At the same
time the cotton buyer had on his desk a
cable from Bremen offering him the price
be asked the Raleigh man And the
Bremen man was to pay the freight: 9Q
L.. a
| There is a great demand for cotton at
present prices from the English spinneEs
and the prices that they are offering
able to spin and make money at present
prices A cotton man who is informed,
says that yarns and cloth have advanced,
and that none of the cotton mill men can
better afford to buy cotton at IA cents
than when the price first reached Is
cents.
"The cotton mill men in this country
had best look out said the same gentle
man. when summer comes, if cotton
still continues to be shipped abroad as it
is now. there will be cotton famine here
and the United States will have to buy
back it's cotton from Europe, paying two
freights, and a profit to the man across
| the water
Yesterday Mr.. Dickinson. of the Savan-
nah cotton market, was in the city. He
is here for the purpose of buying cotton
to export. He says that there is great
demand for cotton from Europe.
An item in the Sampson Democrat can
be duplicated in many places in North
Carolina. 1t reads thus:
Zone of our best farmers went into the
Bank of Faison Saturday and deposited
about $3.50 of cotton money. after paying
up all debts. This is my first bank &C.
count, he said to the Journal as he went
home to tell his wife in 2:40 gait. Keep
it up"
On Thursday there was what might be
termed ''whopping' big bale of cotton
sold here. 1t weighed 760 pounds and
was brought in by Mr. S. C. Hobby, who
lives about ten miles from Raleigh. For
it he received 19% cents pound or $t04.5 so
in ILL e
cotton, Ell?
Mr. Charles E. Johnson of the cotton
firm of Charles E. Johnson & Co., of this
city, has in his private office two beauti-
full and artistic oil paintings which are
emblematic of his business.
The paintings are about two feet by
three feet in size. One represents a stalk
OF cotton as the crop begins to mature.
On it are seen the leaves, the bud, the
flower, the boil, the half open boil, the
cotton ready to pick, and the bolls from
which cotton has been picked. The
coloring of each part of the beautiful
picture is exact as to nature.
The other picture is that Of cotton
stalk after the coming of frost The ripe
cotton is shown and the brown stalk, the
picture being very realistic. Both these
companion pictures were done from ma
ture by Mrs. A. l. Robertson, of Colunn
bia, S. c.. and Mr.. Johnson is to be con-
graduated on having such beautiful works
OF art. He will have Autographs in col
ors made from them, and fortunate will
| be the owners of these
Mrs. Robertson is said to be the only
artist VINO has ever succeeded in getting
an exact oil picture of cotton in the field.
A cotton planter, looking at the pictures
yesterday said whoever painted these
pictures knew cotton"
Make Splendid Shoes.
| Mr. A P Craddock of IuncIhnro