The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1910-03-24
ALL DEPENDS ON NEW CROP.
Cotton Men Know Not What VIII
Come.


New Orleans. March 20.-The re-
suit Of the trading in the future de-
partment of the cotton market last
week served to indicate that the new
crop will come into equal prominence
with the old. This is a development
that few bulls have predicted for
some time but which the trade In
general has refused to accept.
The contention Of these few bulls
is that never before in what is called
modern" cotton trading did the en-
tire world SO hang on what the new
crop would bring forth. Even the
bears admit that this coming season
the world will probably require the
largest amount Of raw cotton in its
entire history, ancient or modern.
Naturally the bears believe the
world is going to get such a supply,
else they would not be bears. The
bulls claim the world needs such an
enormous supply Of cotton because
stocks Of cotton and cotton goods
have sunk to a low level everywhere
for one reason or another. In such
a situation. anything that promises to
reduce the yield Of the new crop be-
comes a market factor Of the utmost
importance. The bulls claim that the
bumper crop needed can not be raised
II the drought continues in Texas.
They succeeded in impressing many
spectators with this belief last week
with the result that the new crop
options advanced 4 cent q pound
while the old crops remained at prac-
tically the same level as at the
close Of the week before. This week
the bulls will increase their efforts
and II the weather continues dry in
the West their operations in the dis
tant months will assume greater i'm
portance than IL usual before the
seed for the new crop is planted.
Should plentiful rains fall in Texas
downpours that will put
much needed moisture into the very
subsoil-it is but fair to assume that
the bulls will lose their grip, that
fair-minded traders will admit that
the prospects are again for q large
crop and that the bears will have the
advantage in the trading.
II interest in the new crop increas-
es. interest In the old IL bound to
suffer. At the same time the leading
bulls still maintain their position on
the near months and sooner or later
developments that will attract the at
tention Of the entire world are bound
to come to light.
Patten arrived In this country at
the weekend. and bears charged him
with selling some of his holdings the
minute he Get foot on land. His
friends denied this and insisted thas
he was still buying.
The Manchester market will be
closely watched by those interested in
the old crops, and II news of such a
bullish nature as came across the wa
ter this last week continues to be sent
over the trading public may get back
into July again to some extent.
Exports Of cotton goods from this
country last week showed an enor-
nous increase over the preceding
weeks Of the calendar year and the
bulls will play up any further increase
this week with the view Of inhuenc-
ing old crop months. The new week
opens with the final report of the
season on cotton ginning from the
census bureau. This will probably
not amount to much AZ q market
factor. The trade = pretty well con-
yinced the figures including linters
will be between 10.250.000 and TO-
100000 bales. Bulls are inclined to
the former figures and bears to the
latter. It will be q short week on all
the cotton exchanges of the world
because Of the Easter holidays. The
New Orleans exchange will close
Thursday until the following Monday
morning. Much evening up of &C
counts over the triple holidays will
naturally be seen Wednesday and
Thursday.