The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-12-14
(By the Associated Press.)

(By the Associated Press.)
New York., Dec. lot has been
All exciting week in the cotton mar
ket with new high records and a
widening out of fine speculation. Liv-
erpool after weeks Of lethargy has
hnally woke up. It's spot sales are
treble what hey were a short time
ago. The receipts at the ports and
interior towns have recently fallen off
sharply. and the ginning report last
Wednesday vas regarded as a very
bullish document. Naturally it showed
a marked falling off In the ginning
compared with last year. but it was
also considered significant that there
Was a striking decrease a.-O as COM
pared with the figures OF two years.
ago when the crop was 11,441,269
bales. 1T was the signal for agrees
siye buying, not only by bull leaders,
but also by outsiders. The believers
in higher prices have been encouraged
also by q better stock market, the
pacific character of the Presidents
message, a reduction in the Bank of
E~ngland's rate Of discount, a rise in
silver in London, advancing spot mar
kets at the South, the cold wave at
the South and the failure Of the
Egyptian crop. In addition there has
been q better demand at New York
for cotton goods. The reports Of
large dry goods concerns have beer
Of & very cheerful character. Spot
sales at the south have increased
somewhat. There is a demand. it
seems, even for some OF the lower
grades in the2New York stock. Wall
Street, Chica"o, New Orleans and Liv-
erpool have ali been buyers. There
has been a noticeable expansion Of the
speculation. On the other hand many
believe hat fifteen cents amply dis
counts anything of a bullish character
in the general situation. In fact some
people of experience consider the pres
ent price Altogether too high. SpinEerS
continue to fight the advance by hold
ing aloof as much as possible. Dis
mai reports of the spread of curtail-
ment in Europe are constantly being
received and the yarn trade at Phil
adelphia is reported ~stagnant.
Though the stock here is not in
creasing as fast as has been predicted,
still there is some increase almost
daily and it is now nearly double what
it was a year ago. Some of the bales
In North Carolina are said to be con-
siderably heavier than at this time fast
year. edge selling by Texas, Alabama
and Georgia has been noticeable. On
the rise there has been very heavy
liquidation by leading bulls. There
appears to be some likelihood Of an
anti-option bill being introduced in
Congress this winter.
BuillSh sentiment however has been
dominant. Trade is gradually expand
ing. The British exports of yarns and
cloths for November made 2 bullish
exhibit and the trade of Great
Britain according to the figures OF
the british board of trade. is increas.
ing. Increased prices Of commodities
during the past year or more are by
some economists attribute partly tC
the augmented production of golC
throughout the world during the las
dozen years.
Cotton has been Influenced not only
by the bullish census report or
Wednesday, but also by the expecta-
ton Of a Very low crop estimate BY
the government on Friday. Today
prices advanced 81 to 45 points or
the government crop estimate Of only
10,OSS, 600 bales. Part Of the rise was
lost later on profit taking. but the
tone was very strong and the nun1De,
Of high price bulls is increasing.