The Sentinel=record., 1909-10-30
WILD WEEK
 IN COTTON BULLS SAY THAT THE CROP WILL FALL THREE MILLION
 BALES SHORT. Speculation Is Thought To Be Wild Fire Sort of an Affair-DoubtfuI
 if Price Will Stand.

New York. Oct. 29.--It has been a wild week in cotton, with jump of & to S6 bale.
 This was based on growing con- viction that 1t is a short crop and that there Is nothing for 1t but much high CT prices before the season is ended.
 Whether thi sadvance will culmin- ate b ythe end of the calendar year is, of course. a matter of speculation, but bulls are talking of a crop of only 1O. .00O, ,000 to 10, O,500000 bales end a consumption of 1s.ooo00O to 13,500s GOO. though to many 1t is not clear how the consumption can reach such quantity unless the preesnt crop estimates are too low.
 Only 100000 bales of American cotton were carried over from last season.
 But while there may be disagree ment as to the precise size of the crop and the consumption, the belief Is almost universal that the yield Is at any rate only moderate and made quate to the needs of the worlds cot ton trade.
 It is argued. too that If the cotton crop of the south is to be worth this year some $500, 900 ,o00. the purchasing power of the south will be greatly in- creased and with the high prices the western farmers are obtaining for their grain win greatly stimulate the use of cotton goods and enable manu- lecturers to obtain prices more than commensurate with the high price Of raw material
 There are those whn thing new era of cotton values has set In and that there is radical increase in the production through an increased cul- tivation of vast area at the south west suitable for cotton culture.
 The story is that Patten, Gates. Hayne, Scales, Brown and other inter. ests have been big buyers and thouah taking profits from time to time stl1 remain very bullish in their oonyio- tions. =
 Many other operators ifI Chf ~-4a New Orleans. Memphis, Wall &a and Liverpool have also bought. fof- lowed by the general public. Tho| 'Waldorf-Astoria contingent and pcon11 in the tobacco and metal trades hnvo alsoit appears, still been buying.
 
 rivallings at the clubs and Nil hoteis. ExporIs nave been large. cuE<' ton goods active and rising and I-ivers pool straddlers in some cases at least appear to have got hold of the hox end of the poker.
 Tn other words. it is said there was very large amount of this arbitraxe business originally done by selIir s{d New York and buying in I4iver5a
 The liquidation of such str of 1nA by buying here and sel1tsxt filtered inA pool explains in part | & .<, ,x<.,v ers,1 the prices here and +A q -------.--- weakness Of Liverpool thxe Two
 On the other hand, il this speculation Is too msit # 77 g Ire affair. There 5s said fl Il@ pyramiding than there was last spring and summer, but for all that dhe mar ket Is by man yconsiderel dangerous They seriously donsaf whether the re- cent advance Is justified. Prices are some $25 bale higher than a year ago and the actual size of the cfop is as yet undetermined. s
 The receipts al the mort sare laree and the week. v movement into S1&1it suggests to son1t the hiea that the crop Is being anFer estimated. The stock here s fapidg intreasine Though the moyenent to curtail 1aix> ; duction has th'isJ far failed ln north of any very1 subsfanfiSI r61I some l60 Georgia mills Iiax6 to reduce 25 per c1 1 Iy1 if il lS that # is only q <. prices continue to spread curtailment
 It Is urged. too s
 vance within week X 100 tu l25 points a &E4