The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-12-28
(Hy the Associated Press.)

(sy the Associated Press
New York, Dec. 24.-Iile bulls have
made good their prediction that &c
cents would be reached by Christmas
time. They have been favorea bv
reports of a better SPOT demand in
various parts Of the South, q bullish
ginning report last Monday and evil
dence9, as they believe, that trade is
III mucf) better condition than many
had supposed. Certainly the senti-
ment here has been generally bullish.
Believers in higher prices diiate on
the fact that the spinners' takinss Of
tate have exceeded the receipts. They
also believe that Spinners are in many
cases becoming alarmed undcr 81 real
iZation Of the fact thai the crop is
/ really small, even II the recent gov
eminent estimate of 1O,Q8S. 00O0 bales
may have been rather too low Those
figures of some OF the ginning re-
turns are regarded by some as too
small Tor the average credulity. but
the Idea = spreading that apart from
this yield is actually several millions
less than the worlds consumption Of
american cotton. Some bulls. indeed,
put the disparity between supply and
prospective demand as at least 3,Go0.-
900 bales. More ge;.9raily it Is stated
1T 2,5ho,0 90 and the prediction is made
that before the close OF the season
wholesale curtailInent will BE- con2-
pulSofy. The yield is not only ssnall
IN this country, but is also said to be
much smaller than usual IN Egypt.
Some recent estimates Of the East IN
dian crop are smaller than at ono
time. though the yield III that quar-
ter is expected to be comparatively
liberal. OF late Liverpool prices have
been stronger than looked for. The
spot sales there increased on Thurs
day and from parts 1f Texas, Aldba-
ma. the CarOlinaS, tennessee, Georgia,
and Louisiana reports have been re-
ccived of a better lemand for the
actual cotton. The farmers are be-
ileved to have sold considerable OF
their crop at high prices Il to be
in q position to hold the remainder
for some time to come. Fall River
mills refused to accede 20 their an
ployes' request to close on Friday.
December "A. for the Christmas holi-
DAYS. and this IS taken as meaning
that trade in that section is in no bad
day. Indeed. the reports Indicate q
gradual Improvement in the business
I'm cotton goods. The holiday trade
has been very active. General trade
Is improving. Silver has recently ad-
yanced materially, whereby the buy
ing power Of the Orient has been sem
sibly increased. On the other hand.
NAM consider prices altogether too
high, and that sooner or later this
must be as disastrous a break in prices
as there was in the Sully
This element expect the South to plant
an enormous acreage during he com
ing spring, one that may conceiVably
mean a crop. under favorable cond1-
lions, of 10000 900 bales.
on the advance there has been
heavy liquidation by big operators ana
others. Federal legislation on the
subject Of cotton futures has been m
troduced and may be carried through
during the present session OF Con-
gress. Cotton manufacturers are IN
many cases bitterly r~escntful OF the
present high cost OF raw material, be
iieving it to be largely due to specu-
lation. The general sentiment else
where is bullish, however, based on
the proposition that considerations o.
supply and demand must ultimately
force prices to a higher level, now
ever, regrettable from the manufac-
turcrs' point. this may be.