Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-12-05
GUESSING ON THE CROP.

The local bucket shop was a centre
Of especial and particular interest yes
terday because 1t was generally under
stood that the governments November
crop estimate was due to appear some
lime between IL and 2 o'clock, and an
unusually large crowd Of people gath
cred to witness the lively fluctuations
now common on such occasions.
The average bucket shop crowd Is
from six to ten people. There are peo-
pie dropping in and out all the time, OF
course; but the place Is seldom crowd
ed. Ordinarily, visitors have no trou-
BILE in finding a comfortable seat, and
an unobstructed view of the changing
figures on the board but on occasions
like yesterday standing room some-
times reaches a premium.
At one time yesterday, shortly be-
fore noon, there were as many as fifty
people in the room. They included
local cotton buyers and spectators
and farmers from all parts OF the sur
rounding country, most Of them at
tracted through mere curiosity, but
others holding contracts and interested
in the probable turn in the market
Ordinarily the bucket shop people re-
quire a margin Of only twenty points,
because under normal conditions this
is easily sufficient for their protection;
1.
been coming in of late have frequently
caused jumps Of from 20 10 so points
in a few minutes and the market has
been known to fluctuate as much as
a hundred points within hundred
minutes.
Such a situation leaves an oppor-
tunity for a dead sure thing Of q
hedge. For instance the speculator
could buy q hundred bales and sell a
hundred bales at the same time, and
at the place where a twenty-point
margin would be wiped out on one
con: ract, profits would begin to accu-
mulate on the other. But the bucket
shop people calculated on this also
yesterday and raised their limit. At the
opening Of the days trading, they pos
ted a notice providing that three mar
gins" would be required on all con-
tracts, thus making themselves secure
to the extent Of full sixty points.
January closed last Saturday at
11.34, and opened yesterday morning
at 11.3S. There was rapid advance OF
some rs points and then some fiuctua-
tions downward. The crowd was in
tensely interested and when the guess
ing commenced coming in there were
all kinds of comments. The New Or
leans Times-Democrat's estimate put
the crop at 10,155,000 bales; w. P,
Brown had 1t 10,175,00O and Miss Giles
had 1t 10,180,000; but these estimates
seemed to have little effect. 1t was on
the guess of the government that most
In: crest hinged. The government
guess was at first scheduled for IL
O'Clock; but at IL o'clock there came a
wire that the report would not be ready
until 2.05, and there followed all kinds
of accusations against "Old Wilson
who Is undoubtedly on the side Of the
bears" Presently at 1.30. the govern
ment guess came in putting the crop al
10, ,81S bales, and prices went jump
ing. not so violently as many ex-
pected to see: but nevertheless jump
ing, January now about 11.60 went to
11.S3 In less than half an hour ond
New York spots jumped to 1885, a.
advance of 20 points over last Satur-
days close.
Quite a number Of local spectators
are unders.oo to have had contracts
with the bucket shop on the right side
Of the market and they all had inter-
esting paper profits as the result OF
:he sensational advance; but as to how
many took their holdings down and as
to how many are waiting for more
there Is no way Of knowing.