The Montgomery advertiser., 1905-10-04
MONTGOMERY COTTON
GOVERNMENT REPORT HAD A DE-
 PRESSING EFFECT.
Little of Staple Was Sold Under Ten Gents and Farmers Insist It Will Be
 Held at Home.
] Quotatious at the close of the Montgomery
 cotton market yesterday afternoon were as

The break In the cotton market yester- { day had a depressing effect upon the local situation and little of the staple was sold m MontRomery. The bearish Government many. of them expressed themselves as re- cotton came to Montgomery yesterday ' d at o'clock Is @ buyers .1s at cour. Square were offering 10 cents. the closing price at this figure. N Then came the New York quotations showing a drop of sos points n s 'ai ef io eenss fW the day progressed the future market be- weak end could not get |, settss Government report middling cotton in Mont gomery dropped to s*c. with few offers
 But little cotton was sold under 10 cents Planters of the better class. men who pro- active aInohr tenants and smaller farmers who had cotton in town. and as 'Asult offerings. The best offerings at the close Of business were s&c for middling and , Unless the market recovers today to- mosrow the Mon.gomess receipts .,. VIII ssow nov
 to ths marks ana farmers of influence are using every effort to hsep the n staple S at ,n9 home m until 10 cents
 Little yns oaseIex 0tieTes for Ns@ .hs better prices. Liverpool opened brisk yes This was followed by break away prices in New York. which caused genuine sur nenf report was foreshadowed. local specu- iators attributed 1t to hear manipuiation nartment at washineton has been shatter- ed. were not so polite Several of 4"~-- ex-
 :hs sDpsn ha the secretary of the Cotton Association srse ,rtura nnsrka, was swsak tbrouphout , the day with slight reactions now and then due to covering. From break at the sfowly. Soon after II o'clock. when the {, Government report was announced. the II nas sss ponts nearis ar half ssnt under opening prices.
 changes. ss as mans n1s cSatomsrs Were buyers of cotton and the bull contingent in New s, sssr TheS eSw ehas the time to buy; that it was certain South ern growers would hold their product; tha. that since former Government reports were worthless. comparisons could not be made
 One broker received this telegram from a reliable New Oieans firm:
 ssThe general opinion here is bearish bui with enormous requirements we think the consumption will exceed last season and wnu.d wssn 'hs satssr % buy than .eii ii We think spinners hold very small stocks Of cotton have a favorable opinion of the market in the long run"
 On the general run down of the market Liverpool became a large seller and the bear campaign led by Theodore Price. ham, mered it all in their power. Early in the game Mfr. Price flashed over the wires an estimated crop of 12ooo.ooo bales and ad-
 'Tt resolves itself into Titanic struggle" 1" said MontEomery planter ruefully. "be- tween the men who grow cotton and the New York Inanipulators: do not believe we will have much trouble in convincing our farmers that cooperation is needed now more than ever: Cotton must not he sold under 10 cents"
 There is no doubt that the large growers of Montgomery County are standing by the guns of hiRh prices. Not one pound of this years cotton has been sold hv Walter Brothers, the Underwoods, Tom Oliver. Will lis Bell. M. B. Houghton and men of that stamp. men who operate large plantations. Moreover. they say that most of the negroes have paid their rents and are holding what cotton Is left over.
 discredit the ability of cotton growers to hold the staple in tho face of the mar
 Montgomery farmers ara human" said one of these buyers. If we buy cotton under 10 cents in Greenville. Troy Opelika and other nearby markets it is proba e we can buy 1t here. I hope tho market will recover. but look for our local people to sell at current prices if this low mar ket continues"
 Meanwhile cotton is moving from Mont gomery slowly. The old Seibs compress had an accident Monday and 1t is still out oi business It was estimated yesterday that 1000 bales of cotton in the streets o Montgomery waiting to be compressed.