The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-08-24
{ By the Associated Press.)

> y III ASSOC1dtCA 1Coo-J
New York, Aug. zO.-See-saWlng
within a moderate range cotton prices
have made no decided move despite the
issuance of several very buHish crop
reports and the fact that temperatures
in Texas have ben extraordinarily high,
up to ia degrees. 1t has also been
very hot elsewhere in the Southwest,
Oklahoma, Arkansas, louisiana ana
even Mississippi and Alabama have
not escaped. There are fears that the
extraordinary heat may spread to the
eastward. Marked crop deterioration
is reported in Texas. Several statlst-
clans have put the condition Of the
whole crop at only 6S to 70 per cent.
One makes the total yield only IL
500, 600 bales, even allowing 3,O0U,-
600 for Texas, which some others in
sist is too high. Trade has improved
across the water, especially at Man
chester, where the demand has sud-
denly increased. The New York stock
decreases steadily. The consumption
of American cotton this season is ex-
pected by some experienced cotton
men and close students of conditions
in the trade to be the largest ever
known. They instance the fact that
there is a more confident feeling
among the merchants Of all the great
trading nations. Stocks of merchan-
disc are believed to be comparatively
low after several years of cautious
uying
The date for the next government
report on cotton is close at hand. 1t
can hardly fail to be bullish. If it
is 70 per cent it will have to be COM
pared with rs a year ago, 1877 two
years ago, when the crop was only H.
$4,000 bales and 72.1 in 1905, when
it was only 11,346.OO0 bales. Mr..
Sully had five short cropsin succession
to build his famous campaign of 1903
= n --I of %L>~ro -
the September condition was low,
ranging from ga in 1902 to ia in
1901, although for an exception in
1908 the September condition was for
some reason put as high as S1.2. It
did not prevent the crop that year
from being another failure-1O,o11,-
600 bales. The Sully era saw Q OF
only 9,436,O00 to 1O,72S,0O0 bales,
with an acreage ranging from 24,275,-
600 to 2S,015, 600 acres.
We have a larger acreage now to
reason upon, but the conditions have
been SO bad according to many reports
cor some time past that some very ex-
perienced people o for a yield Of
less than 1900, 600 bales, which they
consider would be practically a failure
in view Of the increase acreage and
the largely augmented consumption
Of American cotton. One explanation
IS, very many believe, that present
a. Nv w
teeth of an expected big crop move
ment early in the season about to
Bull speculation has received
several severe set backs within the last
few months. There are those who
think that the damage to the crop is
exaggerated and even heat privately
reported as high as 11S degrees in
some parts of the Southwest has been
in some respects beneficial. Such
temperatures tend to kill the boil
weevil. Moreover, the minimum tenn
peratures have in many cases been as
low as 68 to 70 degrees. The future
of prices hinges largely on the size of
the crop movement and the attitude
of the spinner. If he buys heavily
pull speculation may revive. Other
wise it is believed that prices may sag
to a point which will encourage pro-
fessional operators n the outside
public to take hold again.
Late in the week prices broke under
liquidation by tired longs. There were
private reports Of rains in Texas, and
more attention was paid to claims that
boil weevil was being terminated by
the excessive heat. and notably in the
southern part of Texas.