The Birmingham age-herald., 1907-05-13
COTTON

New York, May 12-The New York World of Sunday publishes the following under the caption,
 COTTON AND WHEAT BOOM.
 Widespread areas in the south have been replanted because of damage by wet weather
 Talk of fifteen cent cotton and dollar wheat frlghtens Wall street.
 The public is naturally a bull in it's speculative enterprises, and it has been many years since conditions have made the long side of cotton and wheat as at tractive as 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 move- ments of these commodities than at any other time in recent years.
 In this connection the hearing of the suit brought by Theodore H. Price against the New York Cotton exchange classifi- cation committee, to compel it to adopt higher standards for classifying the staple, will be watched with greatly in- creased interest, not only in this city but throughout the south. While MT. Prices motives have been questioned in some quarters, there Is a growing belief that he has acted for the best interests of the New York cotton trade, and that If his suit is successful Ii will go a great way toward restoring to the New York institution it's former prestige in the trade. The effect on the litigation has been all ready 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 1t Is inexplicable that a bale of middling cotton should be worth only 101a cents when delivered on fu- ture contract and 11s4 cents when de- 10, Nau EspU nd simmer Ger tanly a system is at fault that puts purely fictitious price upon future con tracts. 1t Is difficult to understand how the members of the Cotton exchange can desire continuance of such conditions
 The activity in the cotton market which has developed during the past week, is exceedingly gratifying to the members of the New York Cotton ex- change many of whom had commenced to fear that their institution was becom ing moribund and some of whom had sold. or were attempting to sell. their seats. This feeling, which had resulted in a decline in the price of Cotton ex- change seats from S25,000 a year ago to s10 GOO or $11 900 a few weeks ago. has in a measure disappeared. It Is stated that s12. GOO is now bid for memberships In the New York Cotton exchange, and that none are offered. Whether or not this ap- parent revulsion in feeling is due to the activities of Theodore H. Price Is a ques- tion that is being vigorously debated on the exchange. It is obvious that his ac- tion in enjoining the classification com mittee of the exchange against improper classification of cotton, which at first excited the bitterest resent nent, is now finding a very much larger support than when the subject was primarily broached. A canvas among the members of the ex- change reveals the fact that a very large minority, if not an actual majority of them, are now in sympathy with MT. Prices campaign. The idea that his ac- ton was taken entirely from motives of self interest, and become to some extent dissipated, and MT. Price himself says that, after all, the automatic action of an enlightened self interest has effected many of the greatest reforms.
 NHEODORE H. PRICE.