The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-10-20

Again u vas the nrmness OF spot nrices
and the continuance Of December manipula-
ton which prevsnte cd any very ina rked de-
cline. though there was o decline due to the
failure of frost predictions. the reactionary
aspect Of the Liverpool market and n further
decline Of the Stock Exchange. There was
noticeable selling nv the South. apparently
hoth as hedges and as ventures on the short
side. The weeks statistics were bullish
rather than other wise. hut no one Ia in q mood
70 talk much about statistics. stil less TO he
influenced nv them. This weeks Census
Bureau report 90 the ginning 10 likely 10 look
buIlish. at Toast on the surface. though the
season is late and This fact will have to ne
horne in mind IN interpreting tne ngnres.
This attitude Of the planter and the tone OF the
81 ook Exchange will be the two bug powers
IN the o Iing Of prices in the Immediate future.
Rack Of ever ything is the fightness Of money.
however. Cotton people have an idea that
the European financial situation il beginning
To brighten but that IL still calls for close
atteptio n in this country.
Edward Moyse h Co. said: ~Ihe cos on
situation at the present moment 10 a perpiexing
one. Finances In Europe and America are IN n
very bad shane. Business confidence has been
. ably undermined and vet cotton prices hold
somparatively staady. Such an anomalous
~position IL not likely 10 be long maintained.
The temporary needs Of the exporters who
: have sold cotton for Ocfoher shipment may
force them 10 paw sin prices for what they
need, hut after their wants have been filled
The changes are thai the prices will give wav
sharply. The financial needs Of the country
will force bankers throughout the south
~ insist upon sufficient selling OF cotton to
r~iieve tha strain on the banks. This forced
liquidation In likely TO come during the early
part OF next month. The longer I IN put on
state Of finances the world over we cannot
look upon any Improvement in cotton prices
other than rs temporary. and va therefore
advise selling on such. rs es as we may see
yluring the coming week"
The statistical position. as made from the
Financial Chronicle. 10 ss follows:
This Week. Last Week. Last Year.
or ts Which American s.osS.Ss iyM:Sis I.ssS.osO
Crop in sight is,S'": i.'4''7se :'s'i 1872
Cam. %%fint INTO week s'sht as..i.s s7o.so o ysss
r. A. Mcintyre 4 Co. said: Prices have
been sustained ip the Southern markets for
spot cotton in such a manner that 10 encoura e.
ing 10 the advocates. OF. higher price, here.
hut il IL a question whether the acu Q strin-
iionsry state Of GeHeral trade and the psnickSS
conditions prevailing in Wall Street will
not sooner or later force planters to offer
their 90 ton more freely. This is what We
are sxpectinS to see develop In me near
movement can be, sue, ess uIly maintained
in the. staple until the financial sides have
cleared and the eauilibri m Of the money
MARKETS. has been. restored and. confidence
in wall Street and bsnsing circles has had
Cotton on the spot was unchanged. Mid
Az bales for spinning. The Southern spot
markets were generally steady. Middlng,,
New Orleans; ilnc.; Mobile, iiSSc:: savannah,
-aa "a follows.