New-York tribune., 1905-11-22
REPORT B00MS COTTON.
Panic in Pit Whsn Government
FIGURES Were Learned.

washington, Nov M--The Census Bureau to-day
issued a bulletin placing the amount OF cotton
cirned to November IA at 7.49S,167 bales.
In i9o4 the product of the nneries up to Novem-
Der "A was 9.7S66i6. and in 1858 6.Si5162 bales The
total crop OF 1854 1S. 337 bales and of 1903
sss6s ba,ez. In 1894 about 70 cent of the cot
ton had been ginued to November II. and in 1903
about 6sla per cent
The production by bales for the present year by
States is follows: Alal anna. 9429lS, Arkansas,
Si3 s4; Flor d. 56,612; Ceor 81 3d. Irdisn Terri
tory. Is350, kentuchy, A. Louisiana 22.V7i; Mis-
s!ss pp 664.!70: Missouri 2.142 North Carolina.
5l012s; Oklahoma, 179E2;; South Carolina, 9I,772:
Term ssee l563Gs; Texas, s220 ?; VI gnia. 10 s.6
When the government report was made known,
with its indication OF a shortage OF more than
100000 bales compared with last year. panic
reigned In the cotton PIT yesterday for about half
an hour and the market closed feverish and excit-
ei. In about three nuies after Superintendent
King had read the report from the rostrum
prices had gore up po nts. and inside of ten min
utes cotton sold at lis points rise an increase OF
IS IS a bale over its price before the report.
The brokers generally had been expecting a much
larger showing and there was general scrambiing
of shorts TO cover Trading was heavy, with con-
slant movement of prices. which fell of about 70
points after the first excitement because OF saeS 10
take profits The market closed. however. with
prices from rs to so points in advance High rec
ord prices were made before the rise was checked
About 100000 bales traded in during the
day. The ordinary days trading IS 8O0oo oaLes AT
II CSC approximately gain of 10 to 20 points over
previous high level this season.
In the panic reports new around that various
firms had been hard hit and there mEht be an
nouncements of suspensions this morn nng. Al
punched on the sudden rise. it is expected that
any failures will result.
Theodore H. Price. after the close of the market,
said that he had predicted a report of within
$50 900 bales OF the actual amount. Joseph IL
Hoadey. said to be associate Of Daniel }. Suliy,
and HarvIe Jordan, president of the Southern Cot
Growers Association both of whom took an
active part in the excitement, are said TO nave
made large sums Of money
Price joked about losing fortune" but it is
believed that he did bale Of his shorts.
selling more, instead, at the high figures for the
day. He said he still bear.
Mr.. Hoadley could not discuss his balance sheet
for the day but q leader Of of the biggest bull
cliques announced his belief in the certainty that
this is only starter. and that cotton will go to
10 cents. even higher.
''Harvie Jordan he said. has been in the South
getting to pledge not to sell their cotton
under Is cents bale. and he has 2,300, 900 bales
pledged And 1 say that not q bale OF this
cotton will into Wall Street. We have about
I'LL the cotton that is in New-York These Wall
Street gr8bbers who have been selling cotton that
they didn't have will be only the victims Of their
own practices"
New Orleans, Nov. 21.-The announcement Of the
ginners report on the Cotton Exchange was fol-
lowed by considerable excitement prices quickly
advancing 35 to 81 points.