The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-30

morrow the deal 10 over
Slnce last Frids,. when the hears de-
fvered what L. believed To have been their
last cotton 5000 hales and when the
level was io.07. the fiuctuation to the hi-h
mark 81 yesterday morning was Sas points
which means nearly four cents a pound
ar tissS bale. From i0.s2. the closing
! point 81 Saturday. tn tho 20 cent figure
meant a difference of SIS points. or SIS ~
bale. The lowest cotton figures re-
corded h four cents. ia ISI5: the highest
81. On. in ia,
some ~ the brokers who looked about
them last week figured that the bulls
owned just about all th,. cotton % con
tract grade In this port los OOO hale-
" II estimated that they have received
since last March go t10 bales. of which
about 5000 bales came back from Liver
pool on account ~ straitsned conditions
among the shorts ga IN. other side With
All THIS cotton coming and going in the
hands of a Few men tn. bears held tight
To their position with the idea apparently
that tn. litigation which L. nov pendin q
IN the shape of indict ments still hang
ing hre In the Federal courts against
some Of the hull leaders Their. would
come break ia the nnan1uVring and a
short position would not he untenabl"
The conditions ia cotton. which AZ least
made POSSIBLE" the August deal, contain
two disturbing DEMENT'S On- l. that the.
last season did no better than 10. 80 U,O
bales. agains' ~. so 600 tn. year lp-for-.
and the other IL that a hew crop of morn
than - 90 90 bales IL hardly expected
AZ the close Of the day = dealings thr~e
OF the hull operators o. O. Scales. Frank
b. Hayne and W. =. Brown ISSUED a
statement. IL told the cotton producers
Of this country that last season they had
realized that the crop was very short.
and IS cent?. "a reasonable price. a. seemed
to them. was maintained against the com
bined efforts 81 the entire world Ac-
cordinRly. they declare. the visible and
invisible stocks were large IN spinuers'
hands. and 80 was the supply of manu-
featured goods.
Thev s1y that the very maintenance Il
this pric" showed it's justification AN
interests fought the advance Says tho
Statement. =, that this sssEpn finals SPIN
r"rs. jobh"-- anil re,ailar- with tho small
eat supplies kncwu since the war This
they call tho -',"rs" q lat wear
Tn" wrrhi w0ulL reJuir" a supply g
n 5DDND bales minimum ihi~ coming
season they continue. 10 h,ll stocks
for this time next va1r IN position No
more strained than ih"s occupy tn-dry
A crop of ~ .JnO. Gi0 bales world b" given
away n sold urder "a cents Judging
by the production - Texas ard Okla
homa laSt year and present prospects u
didn't Seem u iheAe operators that the
n ~ crop could he more than ~ 50 UD TO
I7.OOO.GO hale-
The producer who markets his crop
n a hurry and lets u go at only II cents.
u seems TO these bulls. - robbing hiip-
self. throwing away the opportunity
81 = lifetime and destroying the value
Of his neighbor's property. whether
their Efforts to establish a fair price az
cording 20 the laws Of supply and demand
wers appreciated IL Of little concern 10
them. they declare They assure the
ultinat. consumer that the price 81 raw
cotton affects him little
What rile- the producer. though
the statement concludes. rs not the cost
OF manufacture. Int the law 81 supply
and demand. and Ia him We say that IN
our belief crop ~ ~ J'",Oo baly' would
readily h.. consumed this season a. 2n
cents