The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-11-02
CONVINCED OF SHORT CROP
A Jump Of SIS. to $6. a
Bale Made

Whether his Advance VIII Culmin-
ate by the End of the Calendar
Year is a Matter for the Future
Bulls are Talking Of Crop of Only
100000 Bales and a Consump-
tion OF $4,000, 600 Bales-1,4OO 600
Bales Only Carried Over.
New York, Oct. 29.-It has been
a wild week in cotton with a jump
of s. to Sc a bale. This was based
on a growing conviction that it is a
short crop and that there is nothing
for it but much higher prices before
the season is ended. Whether this
advance will eliminate by the end of
the calendar year is of course a mat
ter for the future to determine, but
10000, 900 to %1O,5OO,OOO bales and a
consumption of 100000 to $780,
900, though to many it is not clear
how the consumption can reach such
a quantity unless the present crop
estimates are too low. Only 10000
bales of American cotton were car
~ V ldSl oCCSooII. bOl w i
there may be a disagreement as to
the size of the crop and the con-
sumption, the belief is almost uni
versal that the yield is at any rate
only moderate and inadequate to the
needs of the worlds cotton trade.
1t is argued, too, that if the cotton
crop Of the south is to be worth this
year some $800,00O,00O the p%urchas-
ing power of the south will be greatly
Snore1caS op1 With tho hiCh nrioaS
which western armer are obtaining
for their grain it will greatly stimu-
late the use of cotton goods and en-
able manufacturers to obtain prices
more than commensurate with the
high price Of raw material. There
are those who think a new era Of
cotton values has set in and that there
is not likely to be much permanent
decline in the price. There is a radi-
cal increase in the production through
increased cultivation of a vast area
at the sOuthWeSt suitable for cotton
culture.
The story is that Patten, Gates,
Hayne, Scales, Brown and other in
terests have been buyers, and though
taking profit from time to time, still
remain very bullish in their convic-
tons. Many other operators in Chi
cago, New Orleans, Memphis, Wall
Street and Liverpool have also
bought, followed by the general pub
lie. The Wa~ldorf-AStoria contingent
and people in the tobacco and metal
trades have also, it appears, still been
buying. Cotton is one of the chief
topics, rivalling steel at the clubs and
big hotels. Exports have been large,
cotton goods active and rising n
Liverpool straddles in some cases at
least appear to have got hold OF the
hot end of the poker.
Prices are some 50 a bale higher
than a year ago and the actual size
of the crop is as yet undetermined.
The receipts at the ports are large
and the weekly movement into sight
suggests to some the idea that the
crop is being nderestirnated The
stock here is rapidly increasing.
Though the movement to curtail
production thus far failed in the
North Of any very substantial results,
some 100 Georgia mills have agreed
to reduce per cent, and it is argued
that it is only a question or tune II
prices continue to advance when wide
spread curtailment will be imperative.
It is urged, too, that after an diva
within a week Of something IKE loV
to 125 points a sharp reaction IS
to be expected at almost any tune.
Today, however, hire was more Dig
buying, followed by q route Of the
bears and the Liverpool arbltrageurS
and q sharp rise in prices.
Comparative Cotton Statement.
New York. Oct. 29,-For the week
ending Friday, October 29.-Net re-
ceipts at all United States ports during
week, 418, 900; net receipts at an
United States ports same week last
year, 439,7O2: tota! receipts since
September 1, 2,s11,072: total receipts
to same date last year 2,595,45o; eA-
ports for the week., 327,447: exports
for same week last year, 2O7,64S;
total export since September Isl,
1.849,171: total exports same date last
year, 1,673,s64: stock at all Unlteo