The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-05-17
COTTON

NEW YORK, May 1C.-The generals
In command of the large short Inter-
est In We cotton market yesterday con-
ceived the idea that it would be good
g,e;neralshiP. In view Of my absence in
Philadelphia, to attack the market and
force prices down.
In the execution Of this plan an
cnormus quantity OF cotton was sold
short. The market to-day has rccov-
cred most of the enforced decline Of
Yesterday, and at the close is within
ten points Of the top after an almost
continuous advance Of over cent and
a half a pound
Meantime the false rumors with re-
gard to the liquidation OF the alleged
pull pool have resulted in the climi-
nation OF considerable long interest.
and the speculative holdings OF cotton
now FOR sale, are very much reduced.
My opinion remains absolutely I'M
much higher prices. l hesitate to say
how much higher 1 think it probable
the market may go. 1t is going there
irrespective of the operations OF any
one man or group of men 1t is go
ing up because consumption Is, and
promises to continue to be, enormously
In excess OF the prospective supply. / t
Is going up because cotton goods are
selling on the basis Of ffteen-ccnts
cotton, and 1t is practicable for spin
ners to pay that price without loss 1t
Is going up becaule the cost OF pro-
duclng cotton. as measured in terms Of
gold. has enormously increased; and It
| is going up because cotton spinners
are potentially short of cotton through
the fact that they have sold their pros
pective product for twelve ln6n>.ls
ahead. and because there has been
yesterday and to-day, created large
and unWleldly speculative short in
terest in the market, predicted upon
the idea that the bull pool had liaui-
dated.
My advoce to those who are inter
estcd In the cotton market, is not to
be guided by irresponsible newspaper
| reports as to tho operation Of any one
man or group Of mon. Cotton Is bigger
than any individual, and as long as
the crop reports continue as they are
at present cotton must advance.
| qoute q few of tho telegraphic adj
| vices l have to-day received from the
South as follows:
Austin. Tex. May l4th.-The state
ment Is true. The condition cotton
| throughout Texas Is the worst in many
years. Extreme cold for tho season.
excessive rains nearly all over the belt
and hail In some portions, present tho
gloomiest prospect In decade Some
State. Replanting still going on; seed
scarce. (Signed) Il. Il. Miner, COM
missioner.
Grenada. Miss, May 1cth-Tremen-
/ dous rains past eight hours: still con-
tinues; vast country submerged; fifty
4 per cent. planted; outlook serious.
1 Talladega. Ala. May 14th-Furthcr
torrential rains now progress; crop
disaster this section certain.
Dallas, Tex, May 15th-Light frost
in North Texas; AZ.
Now Orleans La, May 1Gth.-Louis-
lana. Arkansas, Mississippi and part
of Alabama crops disastrous sure as
you live.
Savannah. Ga May lctl.-Rains have
done serious injury; poor stands; pros
poets rather gloomy our section.
. Gainesville, Tex, May 15th-Condi-
tons far from promising; wather must
) wecvil danger serious; very few spots
left.
Mabank, Tex, May 15th.-All OF m,
800 acres In cotton is dead going tc
Dallas after June corn seed; Will aban-
don all cotton.
West Point. Miss, May 10. 1907
Farmers are about half through plant.
Ing. Taking the lateness and scarrtS
Of labor, 1t looks to us as II the de-
crease in acreage would be 10 to l:
per cent. here. Not an acre Of cottor
chopped out in this section. This time
last year nearly all chopped out ant
J plowed over.
Il Dallas, Tex, May 15th.--Cotton dy,
Ing with black rot; damage irreparable
Albany. Ga, May l5th.--Bad weather
; continues crop poor and very grassy
Newman Ca May 15th.-Weathe
cloudy, cool; ground wet; farm worl
stopped conditions gloomy.
t Tuscaloosa, Ala, May 15th.-NVc can
not get planted; river and creeks oycl
2 all low lands; cold here; looks like
frost Tonight. We cannot make heN
crop Is the way ! look at things now,
New Orleans, L., May 16th.-Tht
dclngc Of the past two days comes II
the nature of the last straw. Th'
!, damaging effect cannot be ovcrcsti
| Imatcd. Unless protected dry, warn
i weather cnsues Immediately and gen
: orally, doubt tho possibility of q croI
anywhere near commercial require
: nlcnts.
| New Orleans La, May 1Gth,-Wlth
, out cnring to be thorough sensational
| consider the present enforced suspen
t sion Of farm work ut such u criticu
III time render the chance OF an adequate
crop extremely remote.
Fall River, Mass, May lGth,--De
: Imnnd for goods very strong to-day
/ deliveries to january. Mills unable t
supply looms TO nj orders.
: Shreveport, La May ldth,--Gonern
A Iment crop reporter for Arkansas ant
8 Louisiana says his reports are so rot
: ten almost ashamed to send in, I'M
possible to make acreage report
Dallas. Ten, May lGth,--One Of larg
lest jobbcrs Southwest showed me week
J lly report from thirty-two statesmen
iCrop conditions Oklahoma. Indian Ter
4 rltory, Arkansas, Louisiana and Texas
!, Iby fan, worst In thirty four years.
(Signel) THEODORE II, PRICE.