The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-10-12
THE COTTON MARKET.
Frost Again Advances Prices TheOdOre
Price Supposed 10 Have Sold Heavily
on the Rise More Frost Predicted.

II was frost market. killing frost occurring
In the Atlantic. Gulf and Central sections Of
the belt as we'll az some parts Of Okla bona
and the indian Territory. The natural in
ference from the frosts Of late is that the
growth of the green. sappy plant has been
checked over a large area OF territory and the
Weld thereby materially Curtailed. Killing
frost al this early date, about two weeks earlier
than usual. coming in a season which is. on the
whole a fortnight late, IL a factor in the situa-
ton whose Importance il would he unwise tn
ignore, especially in a year in which the dry
goods trade ia so distinctly prosperous and
when TO all appearance the worlds consump-
ton of American cotton will he very large,
possibly. indeed. larger than ever before. The
advance. il is true. has been rapid. and this
discounts much. but II the crop estima ties
recently so popular among certain Of
the trade OF 5000, 600 bales or more should
prove TO be i,00o. 900 10 l.SOO, 600 bales too
large the advance in prices might GO much
further. There is a strOpg bull following in
New Orleans and also in Liverpool. and som
professional operators here. including some
who for a considerable period were short.
have now taken the other ia OK, although there
are some who persistently oppose the ad-
vance. maintaining that the crop has suffered
no serious harm. Meantime there is n certain
pressure OF hedge selling against purcha Sea
Of the actual cotton at the South. the receipts
at the ports are slowly increasing and the
Houston estimate for to-day is pretty large
Finally the tone is more or less nervous, IL for
no other reason than that the rise Of pricca
hinges so entirely on the wea Their that r amid
changes are liza ble to occur AZ any time with
variations OF temperature. Yet tho general
sentiment is bullish. Spot markets are adj
vanCing. Further frosts were predicted for
the Atlantic and Gulf States.
7. A. Mcintyre 4 Go. said " have pevor
had Q Killing frost in the cotton belt for many
years, as early as this date, which is about =
month in advance Of the average date Tor
the last ten or fifteen years. II is Impossible
20 estimate, the extent Of the damage from
tssS' v c3%d W1s r.. they haye doubtless
In advancing 80 sharply indicates the views
Of the trade on this point, This fresh dis
assuredlv result In q further reduction In cron
estimates, and We believe IL will NOT be long
before trade sentiment will crystalline around
a maximum crop possibility Of II. 500. OOO 10
~, 0oo.O00 bales. The question ia. What viii
such a crop bring? Will the average mice
for the season range from ~ TO - cents. or
Will y WORK higher In view Of the probable
worlds consumption apprOIimating Il. 900 .OOO
Freeman and, Wilson were BUYERS. Messrs'
Price. MCFAdden. Mcintyre. EllinRer Void
and O1Dell were sellers. Frank Hayne was
Miller 4 Co. said: The effect Of tbese los,
temperatures must he IN dispel ali homes To-
9 crop Of any importance in tho region az
fected. Texas has so far been Pxemnt frDr,
the freeze. but. the outlook IL ,hat po,binn
more than = small total WELD Is possible. con-
siding one above the average for that state
- a result NJ the freeze. and ,Ie mos enosrt
slso must continue to lag for a while win
acCumulatinR evidence n a Crop insurHcien,
10 meet the worlds requirement. We expcrt
manufacturers TO display nervousness. .nd
anxiety to replenish stocks" """
Cotton on the spot advanced 10 point.
Mtddltng. n.4Oc,. against tO.IOc. last vsar
New Orleans and Gull. ~ .65c.. agains, 10 15c
The southern, spot markets were = = 70
hiGher. MiddIinG: Galveston. NO. Now
Orleans and Augusta, lie; Savannah m "a"
and Memoirs. NC. wv
The movement was AZ follows.