The Montgomery advertiser., 1909-05-23
COTTON GOSSIP.

No sales yesterday in the local spot market.
 Local middling quotation dropped yesterday to 10 11-16 cents.
 Some factors still asking II cents for their staple.
 Buyers are watching the market pretty close
 Bulls were plentiful all last week.
 Bears and reactionists got a little comfort out of the decline In the mar ket yesterday.
 About s.ss5 bales were released this past week by the holders in the local spot market.
 The stock of unsold cotton in Mont. gomery at present Is about 6,700 bales.
 One sale of 1.so0 bales cy cuts the stock like everything.
 The stock of the staple in the small towns around Montgomery has about been closed out.
 Crop accounts, they say. are improv. ing.
 New Orleans reported spots quiet yesterday with factors more inclined to sell.
 Week end figures rather bullish. Takings of American cotton 23g, 900 bales against 1S2.000 bales last year Liverpool forwarded to Manchester for the week S3.000 bales against 6S,000 bales last year.
 
 are 10.7s7.o00 bales against s,73s,o0 bales last year.
 Professional advices from the North all suggest the anticipation of a re- action.
 Last week. according to reports, was the first week in a couple of months that the sales of the Fall River print cloths have exceeded the production and the amount of goods sold since last February totaling 260,000 pieces. No advance in price reported.
 The iry goods reports have been fav- orable.
 A tornado was reported in Ellis county. Texas, with torrential rains in the Carolinas.
 Oklahoma advises that cotton acre. age had been reduced there almost 33 per cent due to the high prices of wheat corn and oats.
 Following is a crop letter as sent out by the F. B. Fisk Cotton Com pany of this city:
 Montgomery. Ala, May 21. 1909. Dear Sirs-
 Crop; The crop continues to pro- gress satisfactorily although the weather during this interval has not been so favorable. The temperature has been somewhat lower with partial ly cloudy and some rain almost daily, wheras hot dry weather was needed.
 Work. however, has not been inter fered with to any material extent, and with a resumption of the good wealth CT prevailing the end of last week the crop would soon be in excellent condition.
 As we remarked our previous re- ports, the stands are unusually good throughout this section a great deal has been chopped and is growing off nicely. We also remarked on the good cultivation, and on our recent observa- better state of cultivation than we have ever known before-not only those planted in cotton, but in every other crop also-which Is sure to show effect in the end.
 Market The offerings this week have been irregular, although a few good sized lots have been sold, and the buying basis suddenly advanced about 1-4c. sales recorded In this mar ket yesterday aggregat!ng about 2.O00 bales at II cents for strict middling first cost, being about 20 points under July contracts in New York. whereas one week ago, as we pointed out in our last report. the basis prevailing was 45 to 50 points under July. At the same time there is apparently very little interest on the part of the mills and these purchases are evidently eith- CT on speculation or against previous sales for May or June shipment. The stocks however, are now considerably reduced and from present indications we believe the buying basis will be- come much more unfavorable.
 r. B. Fisk Cotton Company.
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