The Montgomery advertiser., 1908-09-02
NesO Orleans Report
New orlsans. sspt 1-fspscial l-romor.

New Orleans. Sept. 1.--(Special )-Tomor- rows Times Democrat will say:
 Yesterdays cotton market was literally flooded with bullish crop information. but of forward buying and the wholly depend ent character of such limited speculation forthcoming and the American rings led by New York. sold the market down in the face of a government condition report at least two points, lower than the talent as whole had been led to expect.
 Most crop experts now claim without auainifieation sln that all claims of a bumper check to early maturity may yet cut the outturn down to an entirely comfortable figure in the event there should be Sep tember deterioration of consequence.
 o'clock yesterday, New Orleans time, plac- ed the crop condition at 7e.1 as against ss
 The tabulation in detail showed condition declines in the heavy producing states as sissipp. q; Alabama 1s: Georgia 8: South Carolina 8: North Carolina 8; Arkansas g.. okiahoms which started . out at the s. bot see. Florida. Missouri and Virginia made good showlngs.
 The agricultural bureaus cotton region weather bulletin. covering the week that has elapsed since the Governments condl- tion data was gathered. reports adverse Carolina. and in some other parts of the belt.
 With the near approach or the Dig qeliv- cry season. consumers abroad might reason ably be expected to accept the government'a announcement that the crop has gone back ward faster than cotton trade l, has s,vs been procrastination in the matter of securing supplies. But with New York bears encoun- tering no organized opposition to lower values Europe may argue this morning that further declines are inevitable and decide to await the outcome.
 The current market cannot be sustained solely by planters plans for the holding back Of cotton in October or December. spinners are not buying now in customary volume and the spectators of the South are not taking the places of the consumers as buyers. Consequently the markets ara by' by .shorta Iasso Hspfsrs who now ana then ba, in their outstanding contracts. in order sS obtain profits.
 The cotton market should not have tn' speculation of every piker who has a few dollars to stake on chance but 1t cer tainly needs such wholesome protection ai the legitimate speculation of tho Souti might supply under normal conditions O free trading and the right of free contract Were there anything approaching organizet dare await the last moment before provid- ing themselves with supplies. and any now that Bumper crop prospects have ceas ed to exist would prove fatal to any ex cessive display of ambitious dictation bl leaders of the bear party at New York. In the past spinners have bought earil thereby creating a constant demand shrougt the fall and winter as a safeguard agains aggressive bullish tactics.
 This year. in the absence of buiiish on deavor low price men argue planter may sell early in order to safeguard thei | interests against bearish aggresstveness lat l or on when the movement shall have reach | ed maximum proportions.
 Under such conditions. while the move ment may be checked by withholding cot l ton from the market. the development O | helpfui price influences cannot but be at l tended by maximum difficulties. and unles 1 trade demand shall revive on the big scale | continued low prices for raw cotton ma | logically be looked for.
 On the day New Orleans lost twelv points on December 0. 0.41: range sSs @ 5b | and broke even on middling spots (shc | the tone was called steady.