The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-10-26
Co IlN MaRxEI CONDITIONS.
BULLS THINK FALL IN COTTON
Is NATURAL IN REACTION.
Prolonged Favorable Weather and
increase in Receipts Have Had
Some Effect on Prices.


prices Of cotton have received a
sharp setback of SO a Lale or more.
the bulls look upon it as only a nat
ural reaction alter rise of nearly
Slo pale. Prolonged favorable
weather has had some effect on
prices. SO has the increase in re-
celpts. More than all, however, the
long account had become unwieldly
and when large Southern operators
seeming certain spot interests started
to sell, they werc naturally followed
py the smaller leaders and a violent
decline was the unavoidable conse-
quence. Besides the South has sold
rather more freely on hedges and
Liverpool has also sent selling orders.
Splnners evidently were surprised at
tie break in raw cotton and there
fore have purchased less freely.
Then, too, some big spot interests
are supposed to be against the mar
ket. Room traders have operated
for decline, fearing advance would
be over done. A still more potent
factor was the growing impression
that the crop has been underrated.
No talk is heard nowadays of a Weld
of only 100000 bales. Even some
of the bulls who believe that ulti-
mately prices must go much higher
frankly state that they look for
crop OF 100000 bales Some of
the bears insist that the yield will.
In all probability, mount to 13,OO.,-
600 bales Spot markets have been
less active ana nave naturally Yielded
To some extent in company with fu-
lures. The National Ginner's figures
were not considered stimulating, to
say the least. Very prominent South
ern operators, including leading Texas
Interests. are believed to have sold
on an enormous scale.
Wall street and the West have
heea SRiers On the other haSEl, the
bullish idea is deep seated among a
large class of cotton people, including
some Of large experience, who have
mad great success in the past. not
excepting the season just ended. They
think that even if prices should go
Off now for time they must ulti-
mately reach much higher point.
Lancashre's prospects for the sea-
son are believed 20 be good. Bar
silver has Of late been rapidly rising
IN London, whereby the purchasing
power Of the Far East has been theo-
reucaily' at least, considerably in
creased. Fall Rivers sales Of print
cloths have been large and the tone
OF the cotton goods market is con-
sldered hrm, even if there is less ac-
tiVlty than recently. The fall in raw
cotton having made buyers somewhat
more cautious. Then, too, although
the receipts at the ports and interior
towns have Increased, they are, after
all. still on a very moderate scale.
A long period of very favorable
weather threatens now to be sue
~~NNCN W STop SCareS. Certainly
within few days the occurrence of
frost in Texas and Oklahoma has
made the market nervous. Spinners
moreover. although they are not
buying on so large a scale as re-
Gently are still in the market steadily
buying futures. Large spot inter-
ests' although they may be manoeuv-
ring for lower prices are said to be
still buying here. American and
continental buying in Liverpool has
at times figured largely in the trans
actions here. The bill of lading diff
hculty has been adjusted. That of
Itself is considered very important.
Of late, however, the disposition has
been rather to sell than to buy for
the time being, despite some killing
hn l.