The Birmingham age-herald., 1909-09-18
COTTON GOES UP
 IN SPITE OF BEARS
Prices Slowly Advance During
 the Past Week
SINNERS BUY HEAVILY
Trade is Slowly Expanding and Wage Disputes in Cotton Mills Have Been Adjusted While Bulls
 Hold Market.

New York, September 17-Despite stren- uous efforts to put prices down, they have advanced. Manipulation in favor of lower prices has aroused sharp criticism from some of the bulls who are naturally dis gruntled to find that their plans have thus far been in measure thwarted by the determined efforts of a certain bear clique to prevent an advance to figures which bulls think are bound to be reached in the end. owing to the smallness of the crop For several months past efforts have been made to depress the price to 10 or Il cents without success. A bitter attack upon the bear clique by Charles c. Cowan, who Is well known in the cot ton trade at home and abroad, has aroused widespread attention. He seems to fear that the southern states will not expunge their anti-option laws unless New York mends it's ways. However this may be, advances have been succeeded by sharp setbacks through the hammer Ing of prices and the usual and inevit- able realizing of profits to which setbacks are usually in part at least due. But Brit fsh and continental spinners show ner- vousness about getting their supplies, and have ever since the September govern ment report was issued putting the con- dition at the unprecedentedly low figure of 637 per cent.
 For several weeks the spot sales in Liv erpool have ranged from 10000 to 15,o0O bales a day Manchesters business has been increased. So has that of Calcutta. Bombay and the Chinese markets.
 The dispute about wages in the Borden mills at Fall River has been adjusted. Trade is slowly expanding. James Pat ten, the Chicago operator, is said to be bull on cotton. President Taft's re- marks at Boston striking an optimistic tone as to the future of American busi- ness has not been lost on well known cotton people They chimed in with their own ideas
 Exports of raw cotton have latterly in creased and spot markets have shown considerable strength in spite of liberal receipts. In 1905-06 the quantity brought into sight during September was 1,315,0o0 bales, although the total crop that year was only 11,346000 These September re- ceipts were only 4700o bales less than in the same month in the previous year, so that it Is possible for the rush of cot ton during the early months, even of a small crop season, to reach large vol ume. Anticipation of this has led to the formation here of a very large short in terest. Meantime New Orleans and Mem phis operators have bought aggressively for an advance. So have some Wall street and western operators as well, and, it seems, a certain large interest In the grocery trade. Liverpool has bought steadily.
 The bear clique here has bowed to cir cumstances at times, but every one has attacked the market with vigor. The speculation, however, Is gradually broad ening, and it is contended that the south ern farmers will reserve holdings or part of them for the higher prices which are predicted. While some of the bears are predicting 10 to 101a cents, bulls are fig. uring ultimately on 15 cents or more
 The Giles report, putting the condition at only 61 per cent, Is supposed to pre- figure bullish government report for October. Meantime American spinners persist in their policy of buying from hand to mouth whatever their European brethren may do
 Texas reports say that Texas condi- tion of the crop is 40 per cent worse, and Oklahoma 20 per cent worse, than last year.
 On Friday there was a slight advance with good buying.
 Heavy rains fell in Georgia, Alabama and the Carolnas. Storm warnings were still up at Key West. Spot markets were strong and spot interests here continued tO hlV