The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-11-04
Report That Chop Will Not EN-
ceeds 100000 Bales
Holds Market.
BANKS BROKE GRAIN
European Crops Arc Light. and
Foreign Markets Will Draw
from America.

iFlbuClStSHl 1iih 'il1 - ~
The large operators and trade interests
To dominate the tendency of values
In view of the continued uncertainty
of the general financial situation. the
scarcity of money in the south. and
tile Generalization in the foreign en-
change markets, however, cotton values
lIaye withstood the strain of events
Remarkably we'll.
Spot cotton at many points in the
South is only off Ia of a cen per pound
from last week. with prices ranging at
lN-l-4 to 10 SIS cents at the principal
Interior and seaboard receiving points.
Il the other hand. the market here
forgfutures, as we'll as at New Orleans,
is.actually higher. Prices closed yes
ttrday at an advance of about fifteen
PAINTS on the genera, option list. and
about thirty on December from last
SATURDAYS closing.
Reason for Wcck-IInd Rally.
The principal strength. in the mar
kets has been shown in the last two
Gays. and has been largely the result
ef.sa tendency to reduce ideas on the
Eize of the crop because of A. j. Bus
IONS Estimate OF an indicated yield of
not more than 100000 bales. Specli-
Iators heavily committed to the bull
side have taken advantage of this
reduced crop estimate from that of
NJ = a ~" teh - iiita'
ket against the large short interest
recently created. The Abull clique in
control of the December option 'plucked
up courage again and hopes TO work
Zip prices. Spinners have been buy
ing more freely at the lower prices at
which holders in the South have been
offering their crop. and takings by
exporters nava also been on a much
heavier scale than recently. Business,
~ ~rrA La, ,,~s- ,,hrs ~-M -r1 n. - u
would pc in a normal market for for
eifn exchange or a less stringent
money market. Efforts, however. are
beng made by prominent spot dealers
and exporters at New Orleans and
other points TO obtain the assistance
OF the Treasury Department In reliev-
ing them of these conditions to some
extent.
Possibilftic of the Crop.
If the crop should turf out as much
as 100000 bales, which is still
thought quite likely. il would he more
than sufficient TO meet the require
ments OF the worlds Primers and leave
e good surplus, in view of the heavy
surplus in the worlds visible and invisi.
bic supply. which was carried over or
September LIST from last seasons crop
The next Ginners' report of the Cen.
sus Bureau will be published about
November Sth, and will show the total
amount of this seasons crop gained
up to november 1st. The estimate on
the size of the crop by the Agricultural
b1reau will not be made until It's final
report. which is due about the middle
OF December. The Journal of Com
merce In its special crop report issued
yesterday estimates the condition of
The unpicked crop remaining in the
f1eids at Ga per cent, against 64.4 last
year. 1t estimates that 65 per cent.
OF the crop has been picked to October
2ath. against 56 per cent. last year. 60
per cent. in 1905, and &c per cent. in
iaoi. and % per cent. in 1903. The to-
.tal amount sinned up to October 18th
IS at 100000 bales, against
4,sol,0o0 last year.
Wheat Market Weak.
Fluctuations in wheat We're extreme
" rapid and strikingly cratic, more
especially in the ,instafce of December
contracts in New York. which rose and
fell In an irrational manner The re-
markable break of 4 3-S cents at Min
leapolis early on Monday caused sur
prise. Al this distance such a bir
break seems scarcely warranted, as
telegraphic dispatches merely stated
that the decline was due to the refusal
by the banks to pay out cash. it being
asserted that this vas merely a pre-
cautionary measure. and was not
prompted by any actua financial en-
barrassment.
Many brokers were inclined to re-
gard this step as a bullis;3 factor IN
the wheat market, instead of a bearish
one, arguing that it would do,btless
result in lighter receipts at the inte-
rior. This opinion was based upon the
fact that country representatives of
big Minneapolis elevator houses re-.
ceive large sums. of money daily IA nav
for wheat delivered Nv farmers and
IL is easy to see that these deliverias
would cease when tho elevators. snn.
ply of currency was exhausted This
Il. especially deplorable list now rs
II is believed that much moro whea,
would be absorbed by exnortinp bonsas
Prominent English buyers now 1,
New York admit that Enronear whaa
stocks are lipht and Ii,b1n a. bno,,,.
smaller, and thai importers there mus
depend largely upon North Amcri 20 70
rhc next four months as 1i.ere -eer,
ia be little ayaIlable IN ntber nyn,r, ~,
cn,,ntries TN nxac, -, % NpoI I'm
a. iN'. ~ NV 'Ntit- SlLud.lDI IN 4ltGS