The Montgomery advertiser., 1907-05-13
COTTON.

New York, May 12,-The New York World of Sunday publishes the follow ing under the caption:
 "COTTON AND WHEAT BOOM. Widespread Areas in the South Have
 Been Replanted Because of Damage
 by Wet Weather-Taik of 15-cent
 Cotton and Dollar Wheat Frightens
 Wall Street.
 The public is naturally bull in its speculative. enterprises. and 1t has been many years since conditions have made the long side of cotton and wheat as at tractive they seem to be at present Cotton and wheat brokers say that the public is coming into these markets In all sections of the country and that there is more general interest in the price movement of these commodities than with any other time Tn recent years.
 In this connection, the hearing of the suit brought by Theodore II. Price Classification Committee, to compel 1t to adopt higher standards for classify ing the staple, will be watched with greatly increased interest, not only in this city but throughout the South. While Mr Prices motives have been questioned in some quarters, there Is a growing belief that he has acted Tor the best interest of the New York cot ton trade. and that if his suit IS sue ccssful, it will go great way to re- storing to the New York institution its former prestige in the trade. The ef- to bring the cotton options in New York to closer parity with the prices prevailing on the Southern exchanges A great majority of the trade agree with MT Price that it is inexplicable that a bale of middling cotton should be worth only 10 1-2 cents when de- livered on q future contract and II 3-4 cents when delivered to the New Eng land spnners. Certainly, system Is at fault that puts a purely fictitious price upon future contracts. It IS d1l fn nd of the Cotton Exchange can desire a continuance of such conditions.
 The activity in the cotton market which has developed during the pas week. is exceedingly grat flying to tho members of the New York Cotton Ex change, many of whom had commenced to fear that their institution was be coming moribund, and some of whom had sold or were attempting to sell, their seats. This feeling, which haC resulted in a decline In the price oi year ago, to $10,000 or Sl1,000 few weeks ago. has, in a measure, disap- pcared. It is stated that $12,00O is now bid for memberships in the New York Cotton Exchange, and that none are offered. Whether or not this apparent reVulsion in feeling is due to the actiV- itics of Theodore II, Price Is a ques- tion that is being vigorously debated on the Exchange It Is obvious that his action in enjoining the classiftca- ton committee of the Exchange against improper claSSlncatlon or cotton, WnlcH, at first, excited the bitterest resent ment. is now finding a very much larger support than when the subject was primarily preached. A canvass among the members of the Exchange reveals the fact that very large minority. if not an actual majority Of them are now in sympathy with Mir Prices campaign. The idea that hr action was taken entirely from motivei of self-interest, and become to somc extent dissipated, and MT. Price him self says that after all, the automatic action of an enlightened self-interes' has effected many of the greatest re- forms4 Theodore Price.