The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1907-05-17
COTTON.

New York. May 1.-THE generals in COM
mand of the large short interest in the
that 1t would be good generalship in view
of my absence in Philadelphia. to attack
the market ana force prices down.
In the execution OF this pan an enorrn-
GUS quantity of cotton osld short The
market today has recovered most of the
decline of yesterday and, at the close, is
@wtthin ten points of the ton after almost
continuous advance of over a cent and
half a pound.
Meantime, the false rumors with regard
to the liquidation OF the alleged bull pool
have resulted in the elimination of oonsid-
cradle long interest, and the speculative
holdings of cotton. now for sale. are very
very much higher prices. l hesitate TO
say how much higher think it probable
the market may GO. 1t is going there. ir-
respective of the operations of any one
man, or group of men 1t IL going up be-
cause consumption IS. and promises TO con-
tinue to be, enormously in cAcess of the pro-
spective supply 1t is going up because cot
ton goods selling the basis of 15c
cotton, and IT is practicable for spinners
to pay that price. without loss. 1t is going
uo because the cost of producing cotton as
measured in terms of gold has enormously
Increased, tits going up because cotton spin
ners are potentially short of cotton through
the fact that they have sold their prospect
i've product for twelve months ahead, and
because there has been yestsTdaA and to-
day. created a large and unwieldy short
interest in the market, predicated upon tho
idea that the bull pool had ilquidated.
My advice to those. who are Interested
in the cotton market, is not TO he guided
by irresponsible newspaper reports as 90
the operations of any enc man group
of men. Gotten is bigger than any IT,
dividuaL. and. as long as the crop reports
continue as they are at present. cotton must
advance.
I quote a few of the telegraphic advieAs
| have today received from the South
follows:
Austin. Texas, May 1.-THE statement ts
tp11a hn -
Texas is the worst in many years: extreme
cold for the season.; excessive rains nearly
all over the belt and heil in some portions;
present the gloomiest prospect In n decade;
some say the worst IN the history of the
state; replanting stlll going On; seed scarce"
r. T MINER Commissioner.
Grenada, Miss, May 14.-Tremendous
rains past eight hours: still continues;
vast country submerged 1T, per cent.
planted: outlook serious
,'Talladega, May 4,-Further torrential
section certain"
Dallas Texas, May t5-Light frost in
North Texas. A. degrees"
New orleans. La, May 1a.-Louisiana,
Arkansas. Mississippi. and part of Alabama
Savannah. Ga. May 1e.-Rains have
done serious injury; poor stands; prospects
rather gloomy our section"
"Gainesville, Texas. May 15.-Conditons
far from promising: weather must improve;
crop three weeks late; boil weevil danger
serious; very few spots left"
~
acres in cotton is dead; going to Dallas
after June corn seed; Will abandon all cot
West Point. Miss. May 1e-Farmers are
about half through planting; taking the
lateness and scarciey of labor. it looks 20
us as If the decrcase in acreage would be
10 to IL per cent. here, Not an acre of
cotton chdfrod out In this section. this
time last year, nearly all chopped cut and
plowed over"
Dallas Texas. May 15.-Cotton diving
with black root; damage irreparable"
Albany Ca, May 15.-Bad weather con-
tinues. crop poor and very grassy"
Newman. Ga. May 16.-Weather cloudy.
cool: ground wet
get planted; river and creeks over all low
lands: cold; looks like frost tonight; we
cannot make half crop; Is the way l Look
at Things now "
the past two days come in the nature of
last straw Their damaging effect cannot
be over estimated; unless prctracted dry.
warm weather ensued Immediately, ana gem
where near commercial requirements"
New Orleans. May 16.-Withcat caring
to be thought sensational, consider the pres
ent enforced suspension Of farm work at
such a critical time renders the chance Of
adeudate crop extremely remote
Fall River, Mass. May 10 Demand for
goods very strong today, deliveries 10 JA4-
uary: mills unable to surply loans - fiji
Shreveport. La, May 16.--Governilent
crop reporter r,r Arkansas and Louisiana
says his reports are SO rotten almost aSham-
ed to send in, impossible 10 make acreage
'Dailas. Texas. May Leone If the l7rg-
est Jobbers Southwest showed me- w. XIV
Oklahoma Indian Territory, Arkansas. Lou
isiana and Texas. by far worst in thirty
1signedG THEODORE II. PRICE.