The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-09-14
NEW ORLEANS COTTON TALK.
SPOT SITUATION PROBABLY
WILL DOMINATE WEEK.
Present Question is Whether Prices
will Hold or Whether they will
Continue to Declinc-OperatOrs i'm
Future Market Can Do Little to
influence SpOts-Farmers Fac
tor.

New Orleans, Sept. 1.-THE
cotton market this week probably
will be dominated by the spot situ-
alton, according to indications at the
close OF business Saturday. Thus
far the trade has not been able to get
very good line on what to expect
from this direction. and it is anxious
to secure information. During
large part of last week the tendency
was to mark spot quotations down in
drastic manner. but at the end of
the week the actual cotton had
steadier tone. The question Is wheth-
er prices will hold or whether they
will continue to decline.
Operators in the future market can
do little to influence the spot market
right now, according to the trade.
The situation rests with the farmers
and partly with manufacturers of
cotton. Up to now farmers have cx-
hibited disposition to rush their
crops to market as fast as possible
and to sell regardless of the price
paid. The results have been decided
ly against the farmers and they are
apparently beginning to see it. Ac-
cording to the bulls should there be
more caution and judgment DISPLAYED
in marketing the new cotton in the
interior this week the effect will be
quick on futures. The action of
spinners toward the spot market is
sore puzzle to traders in futures
and the latter are quoted as express
ing the hope that something will de-
velop during the next week or so to
make the spinners show their hands.
All that future traders could read
in lower prices of recent meetings of
southern spinners was indecision and
doubt as to the wisdom of carrying
their curtailment further. This inde-
cision probably was more apparent
to the spinners themselves than It
was to outsiders, and some future
brokers who know the spinning trade
we'll express the belief that it will
lead to independence of action among
manufacturers. They say that It
will lessen organized curtailment and
Will lead to the buying Of spots by
those manufacturers who are in q
position to lay up supplies. In line
with this belief were reports on the
weekend of few Southedn mills
working full time again after a Pc
r1od of curtailment. A certain ele-
ment In the future market expects to
see this full time movement increase
this week. If the expectation is
realized. they say it will have a
healthy effect all around.
The weather will be a source of
anxiety to the bears this week. Last
week they had their first taste of
the nervousness bred by the knowl-
edge that a tropical storm was liable
to strike the cotton belt During the
week to come the weather reports
Will be carefully read each morning
and any signs of abnormal weather
disturbances will be sufficient to pre-
vent serious bearish endeavors. An
other feature Of the weather reports
that will be carefully watched will be
the minimum temperatures in the
northern tier of States in the cotton
belt Oklahoma has already ex-
perienced one hasty drop in tempera-
ture. Anything approaching a cold
spell anywhere in the cotton belt will
have an immediate bullish effect on
prices. The bulls contend that the
| crop is backward and cold weather in
backward season will do much more
harm than in the average season.
oklahoma will attract more attention
than ever before. 1t has prospects
for the largest crop Of cotton in it's
history and any unfavorable weather
IN that part of the belt will have
much more influence in the big mar
kets than usual.