The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-10-09
PRICE Of COTTON
STEADILY GOES UP
Bears Are Unable TO Stop the
Advancing tendency
SHORT CROP IS CERTAIN
American Spinners Are Beginning to
Fear That Cotton Will Not Stop
Going Up and Are Talking of
Reducing Production.
SHORT CROP IS CERTAIN

New York. october S.-There Is strus-
ole for possession of the market in Whlch
t,,,,s for this season the bulls have mad
the advantage. It has been nip and tuck
here during the past week. On the one
hand big receipts, however, heose
inc nv the south and some decline III
snot markets have mitigated against :"
rise in Futures" ON the othef MANU-
The exports are enormous, eNeee'iiis
those of last year thus far, some eoteon
goods have advanced in price, American
SINNERS who had been holding aiool
Co., soma time have bought more ireels
"a Of late there have been fears fhat
another tropical storm might strike 'he
Mississippi valley and probaply orlns WIN
r. the first killing frost or the season'
This question of the first frost 10 o.e
whose Importance 1t would be haru " -
aggerate. Sometimes II comes ~ w 80
"a week of october and sometimes NJ
tu the ast week in that month anu
In some parts not until the SECOND WeeN
in November. In 1906, however, II nap
nened in parts of Tennessee, Mississippi,
Gaorqia. and the Carolinas on oeloper IL
ond October 70. During the past month
and a. half. however, the weather co,iui
tfons on the whole have been excepeion-
ally favorable, so much SO ma -
inc has been unusually active ana SO mas
the marketing of the crop, especially as
seo and s65 a. bale has been strong lncen-
tive for the farmer to sell as fast as
possible. -. Ill
The big movement and the heavy sell
ing by the south against the actual cot
ton and the unusually high prices lor
this time of the year have been stumpilhs
blocks to many who might otherwise nave
felt DISPOSED to push things ON the Dull
side. In East India the crop prospects
are good. In Philadelphia yarns have
been dull and sharp breaks in the stock
market have not been without a GER
tain moral effect. But 1t is Impossible
to disguise the fact that Europe has
gone ahead and bought with a free hand,
despite the unusual DEAFNESS of the price.
European exporters and spinners have
evidently been alarmed by the bad crop
reports from Washington. The latest
was that of last Monday which put the
condition at 5S.5 per cent as against
10-year average of October of 81 per cent.
This offset the fact that the ginning up
to September % was about the same in
quantity as that for the same period
last season on the high record crop.
The market had evidently become over
bought and for time prices sagged UNI
der the weight OIL very nedNy
Moreover, so far as figures go, the bulls
will get no further help from the gov
eminent reports until the December crop
estimate appears Meantime, however,
they argue that it is a mere question of
supply and demand They believe that
the crop is not over 100000 to II, 5OO,O 900
bales at the most while they look for
consumption well over 100000 bales with
the logical results, as they conceive, of
I, ierl,a y,fin haF and
of the season Bears predict L, 100000
bales added to 100000 bales carried over
from last season.
The question of the future to determine
is whether the effects of short or mod
crate crop will not be neutralized by cur
tailment OF production which some Amer
lean and foreign spinners are now be-
ginning to threaten and which bull lead
ers are treating as mere buncombe. Tho
southern farmer, 1t Is claimed. is un-
usually well off. owing to the big prices
he is getting for cotton and cotton seed