Goldsboro semi-weekly argus., 1909-11-17
the net RESULTS.
A Remarkable Week in the
Worlds Gotten
Market.
OyersOld Bears Had to Cover in the
Market Which Went Forward by
Leaps and BOunds-GOOd De-
mand i'm Cotton Goods.

New York, Nov 13.-It has been a
remarkable week in the cotton mar
ket inasmuch as most of a decline OF
$5.75 a bale has been recovered in
few days. The bulls took the aggres-
sive and oversold bears had to cover
in a market which mounted by leaps
and bounds. Many spot holders at the
South refused to follow the decline in
futures. The demand was brisk and
spot prices under this stimulus soon
began to advance sharply. This and
the bullish manipulation proved to be
the bulwark of the market. Moreover,
the short interest had suddenly swol-
len as already intimated to unwelldy
proportions. In such circumstances it
was an easy matter for few resolute
operators on the bull side to stampede
it. They did. New Orleans, Chicago
and Wall street became aggressive
buyers. .asx -
Reports from the centers of cotton
able. They speak of good demand and
rising prices. From China, too, the
reports are of a better demand fol
American goods. Mississippi has SEM
some unfavorable crop reports. From
some parts of the South crop exhaus
ton is reported. Bulls adhere to yer.
low crop estimates, like 100000 tt
1O,500,000 bales, and predict muct
higher prices later on, whatever ma
happen to the market now. They still
think the worlds consumption o
American cotton will be in the vicinit.
of 13,5OO,0OO bales and that as soon a
the spinning world wakes up to tn
situation there will be fierce compel!
ton among buyers for all the ray
: cotton that this country has. Som
i. Texas advices are to the effect that tn
!, idea of any top crop Of Importance
pure nonsense.
On the other hand, however, bu
speculation has received a decided SCI
;, back from the wide open break Whic
occurred last week. This and the bi
), fluctuations which have since occurre
even on stronger market have fr1gh
ened a good many. The disposition
many quarters is to await develol
:" ments rather than take sides in
market as mercurial as this has show
itself to be of late. Meantime, to
the weather continues favorable al
whatever may be said to the contrar
reports are growing louder and mo
70 hn 0ff0af that
" crop in Texas is going to surpri
- many of the low crop estimator
l. Rightly or wrongly, the tendency no
g is to raise the figures on crop es'
: mates. Eleven to twelve million bal
" are figures more frequently heard.
q. Liverpool and Southern Wall sire
IL and Western operators have sold on
" large scale. Hedge selling by t
" South continues. The spot sales
;, Liverpool are down to nominal fgur
=. and continental spinners are said
be less disposed to buy. There is mo
. or less comment on the fact that Ea
u Indian cotton is being offered in tl
ot country. The census figures last Mo
N day were larger than some had look
u for, and if the weather continues
s. vorable, particularly in the Southwe
vs. the final outturn of the cotton crc
e it is contended, will make it pla
rs that some of the low crop estimat
~ are altogether too low
j. Such briefly summarized is the 2
c. sition of the opposing parties in t
le speculation. The net result of t
o. week is an advance. New Orlea
D. bulls have persistent1y defended t
market from attacks from all qua
ters. William P. Brown, of New {
leans, is still here, and in the tradi
ring daily, representing, it is suppt
- ed, important bull interests.