The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-11-03
LADIES CORDIALLY INVITED.
THE COTTON MARKET.
EARLY Advance Followed by . Reaction.
Especially ON the Curb -AOecember Deal
some wall street People Refuse BusA-
ness ON Either side Og tine Market.

EARLY Advance Followed by . Reaction.
Especially ON the Curb ADecember Deal
some wall street People Refuse Bush
ness ON Either side Og the Market.
1t was an uneasy market. and people are
beginning to zrOpe their way as they haven't
found IL necessary to do for years past. WhaC
In to be the outcome of the scarcity OF Cash
in the country? The Southern farmer doesn't
want checks or due bills or paper OF any KIND.
He wants the actual currency. and that IL
hard to get. This is really the Overshadowtng
factor OF the day. Yesterday prices advanced
early 10 the day about 10 points, but this was
lost later on, and they wound up about where
they were nc the previous close. May. however,
ending a few points higher. But curb prices
broke 8 10 10 points coincident with a drop
Of 10 to IS points In New Orleans. where. how
ever, there was a later rally which left some
months higher for the day. The December
premium here was 40 points at one time. but
wound up at ~ under liquidation in That
month as well as in January. LiVerpOOi
prices we're disa appointing, and wall street
was a seller, with the stock market depressed.
A large Wall Street house announced It's I'M
willingness to trade on either side OF the
market in the existing state Of manipulation
and monetary embargo at the South. This
decision attracted a good deal Of attention
and there il ut least a possibility that It may
be followed by other houses. Meantime
what liz TO become of the deals in December
and january There Is supposed to be a big
short interest in both months. The premium
on December over January is still large. and
January itself IL at a small premium over
March. whereas recently IL was pc a discount
OF some 7 or 8 points. II the bulls choose TO
force matters 1t is difficult to see how the
shorts in the present stringent state OF none
tary affairs at the South can bring cotton here
TO light the deal. The upshOt OF the whole
matter may be private settlements; An old
fashioned corner at this time would naruly pc
P %o1Ia po ~ he sn dir ,sadS s meet Sy 4. Il would
at least hurt speculation and thus to some eX-
tent affect all the commission houses. As the
case stands. however. statistics are growing
stronger, spot markets are firm and the
Southern farmer either can't OF. won't, sell.
tie either cannot get the cash " he wishes
current prices. Il is a situation which has
not often confronted the cotton trade of this
Htwood Violet L Co. said: While the
financial situation il vastly improved and
there is little likelihood Of any further serious
troubles the public has not as vet fully re-
covered from the shock. and therefore Is
likely to fight shy Of speculation for the time
being, especially in view Of the holiday on
ners,. reports being due on Friday. the sth
inst.
Messrs. Weld. Allen. Mohr. Schin and
Mitchell were buyers. Messrs. Carpenter.
Shearson. Crutchdeid. MOyse and Gruner
were sellers.
the near future of the market depends on
the financial conditions, which at this writing
appear sOmeW hat improved"
The statistical position as made up from
the FiRGHCid, Chronicle Ia as follows:
Tats wssk. LGstWsek Last Year
Cro TI u slshp'..' sIisSS.iiiGs s.sss.SSi sGssEss
Ing week. '''.''', 4S4A6, 4Ss.7OO s25Aoo
Cotton on the spot advanced 10 points.
Mlddling, Tic, against lO.30c. last. year. No