The Birmingham age-herald., 1907-05-17
Hidea and Wool.
Universal Adding Machines.
COTTON

 command of the large short interest in the cotton market yesterday conceived the idea that it would be good general ship, in view of my absence in Philadel- phla to attack the market and force prices down.
 In the execution of this plan an enor- nous quantity of cotton was sold short. The market today has recovered most of the decline of yesterday. and at the close is within 10 points of the top after an almost continuous advance of over 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 a con- siderable long interest, and the specula- tive holdings of cotton, now for sale, are very much reduced. My opinion remains absolutely unchanged. l expect higher and very much higher prices. l hesitate to say how much higher l think 1t prob able the market may go. It Is going there, irrespective of the operations of any one man. or group of men. It is go- ing up, because consumption is and prom ises to continue to be enormously in ex cess of the prospective supply. It Is go- ing up because cotton goods are selling on the basis of 15c cotton, and 1t is prac- ticable for sponners to pay that price without loss. It is going up because the cost of producing cotton as measured In terms of gold, has enormously increased, and it is going up because cotton spin ners are potentially short of cotton, through the fact that they have sold their prospective product for twelve months ahead. and because there has been, yesterday and today, created large and unwieldy speculative short interest in the market. predicated upon the Idea that the bull pool had liquidated.
 My advice to those who are interested l., Tl,n ,-ly At la At fr ha 1ad by Irresponsible newspaper reports as to the operations of any one man or group of men. Cotton Is bigger than any indi- vidual, and as long as the crop reports continue as they are at present cotton must advance.
 quote a few of the telegraphic ad- vices l have today received from the south, as follows:
 Austin. Tex, May 14.-The statement Is true; the condition of cotton throughout Texas is the worst in many years; ex- tremely cold for the season; excessive rains nearly all over the belt and hall in some portions; present the gloomiest prospect in decade; some say the worst in the history of the state; replanting still going on; seed scarce
 K. r. MILLER, Commissioner.
 Grenada, Miss, May 14-Tremendous rains past eight hours; still continue; vast country submerged 50 per cent planted: outlook serious.
 Taladega. Ala, May 14.-Further tor rental rains now in progress; crop dis aster this section certain.
 Dallas, Tex, May 15.-Light frost fin North Texas, 42.
 New Orleans, La, May 16.-Louisiana, Arkansas, Mississippi and part of Ala bama, crop disastrous, sure as you live.
 Savannah, Ga, May 16-Rains have done serious injury; poor stands; pros- poets rather gloomy our section.
 Gainesville, Tex, May 15.-Conditions far from promising weather must im- prove crop three weeks late: boil weevil danger serious: very few spots left.
 Mabank. Tex, May 15.-All of my 300 acres in cotton is dead; going to Dallas after June corn seed; will abandon all cotton.
 West Point, Miss, May 16.-Farmers are about half through planting; taking the lateness and scarcity of labor. 1t looks to us as If the decrease in acreage would be 10 to 12 per cent here. Not an acre of cotton chopped out in this section; this time last year nearly all chopped out and plowed over.
 Dallas, Tex, May 15.-Cotton dying with black root damage irreparable.
 Albany, Ga, May 15.-Bad weather con tinues; crop poor and very grassy.
 Newman, Ga, May 15.-Weather cloudy. 
 conditions gloomy.
 Tuscaloosa, Ala, May 16-We can not get planted; river and creeks over all low lands: cold here; looks like frost tonight; we can not make half crop, is the way l look at things now.
 New Orleans, La, May 1G.-The deluge of the past two days comes in the nature of the last straw. Their damaging ef- feet can not be overestlmated; unless protracted dry, warm weather ensued im- medlately and generally, doubt the possi- bility of crop anywhere near commer- cial requirements.
 New Orleans La. May Without caring to be thought sensational. consid- CT the present enforced suspension of farm work. at such a critical time, rem ders the chance of an adequate crop ex tremely remote.
 Fall River, Mass, May 16.-Demand for goods very strong today, deliveries to January; mills unable to supply looms to fill orders.
 Shreveport La. May 1G.-Government crop reporter for Arkansas and Louisiana says his reports are rotten amost ashamed to send in; impossible to make acreage report.
 jobbers southwest showed me weekly re- port from g salesmen; crop conditions in Oklahoma. Indian Territory, Arkansas and Louisiana and Texas by far worst in thirty-four years.
 THEODORE H. PRICE.