The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-01-13
AN ADVANCE IS DUE
A Bulge Forward Past
Fourteen Cents Are
Present indications.

| Steadily cotton pushed forward yester
day on the future market and the outlook
is for further advance today.
The spot cotton market in Raleigh had
very little of this, for the reason that
there were very few bales Of cotton
here to be bought and that being sold
there was no chance for an Advance.
Only five bales of cotton reached the
city yesterday. The day was raw aEd
rainy one, and this, added to the upward
tendency of the market, kept the cotton
at home. The farmers felt that with an
other day there might be higher price
for cotton.
And this advance seems to be the out
look for the day. The market yesterday
reached 10 IL cents, in fact that was the
figure paid for each pound in the five bales
sold here, and the sellers were happy
az receiving that excellent price.
The future market went over Il cents
yesterday and the tone Of the market
was steady. The past few days have
shown an advance over q cent 4 pound
and the signs indicate that this advance
has not stopped. 1t is a fresh field now
for cotton with IA cents in sight and W tn
this passed on a bulge Is cents is not
toe far a cry for this spring.
While cotton was selling 1T 10 IL
cents in Raleigh yesterday, Garner had
the best of the market at 13 5S cents
a pound Mr.. II. D. Rand telephoned &c
this Office last night that he had sold
twerty-six bales there yesterday 20 Bar
bee and Company, OF Raleigh, at the
figure named.
The St. Louis Star, Of recent date, has
the following:
Advices from New York indicate thai
cotton will go to thu 23-cent mark. If 50,
this will be tho highest point ever
reached by that staple in this country.
There is q question as to whether cot
ton is intrinsicaliy worth tic money. How
cve., the increased quantities consumed
in the United States, by reason Of aGdi-
tional mills in the South, is an encGur-
aging sign.
Commenting on the above the Atlanta
Constitution says:
And be not deceived; the high and ris-
irc price of the fleecy staple is not fctl-
tious through speculative influences, but
based on the solid economic principle Of
supply and demand.
Farm Life is responsible for a story that
tells a tale that has in many particulars
bccn enacted in this section. it has
in it q, conversation with a New Orleans
cotton man which reads IS follows:
'The Brown cotton corner is taking a
great deal CT queer cotton to Orleans.
The staplc has become so valuable that
the owners Of cotton gins are .scraping
the floors, and have made up several
bales of waste cotton. Perhaps the most
extraordinary bale, however, is ore that
arrived there from Georgia. 1t was the
crop Of 1872, and consequently thirty one
years old. It's owner held out for 16
cents that year, but whcn the market
broke end cotton went down he swore
he would mover sell it for less than 16
cents.
'NNnen cotton went up to IA cents IN
New Orleans h. shipped 1t there. to be
ready for the Is cents he pledged himself
to, with orders to his agent to sell when
ever the figure was reached. The cotton
has been stored in enc room for thirty
one years, and is thoroughly dried out. Tt
lest fifty pounds in the process. Experts
declare the stapla to be as good as ever"