The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1910-10-21
Hubbard Bros. Market Letters.
COTTON.


crop made its influence felt on Mon
day and Tuesday, without changing
the views of those who expect short /
crop and high prices. Therefore at |
the low point on Tuesday large buy |
ing orders appeared, which absorbed |
all of the offerings and started the |
market on the advance to the highest |
point Of the season, January just pass
ing Is cents. Liquidation then brought
about a reaction of some 20 points.
The only change in the situation is a
disposition to accept profits by the
Western and Wall Street houses, who
were among the earliest buyers.
While it is felt that the weather may
have added to the crop, the belief ex-
lists that every bale will be needed
and that any decline can only be of
temporary nature. This is the
dominant factor at the moment in all
of the markets, with the natural re-
suit that the long interest must be
large, not only among traders but
among the mills who have bought cot
ton from the South and are also be-
lieved to have contracts here for for
ward delivery. In this respect their
attitude is exactly the reverse of last
season, when they remained short of
their requirements until well into De-
cember. Therefore at the moment
one hears only of the causes which
will bring about an advance to still
higher prices.
At the moment the dispute over the
guarantee of the bills of lading by the
American bankers as required by the
resolutions of the foreign bankers in
London, is not settled. A tentative
proposition was submitted to the rep
resentatives of the cotton trade who
were called into the consultation yes
! terday, that a company be formed in
London to guarantee the validity of
the bills of lading at a cost of about
or cents bale. The representatives
Eagreed to submit the proposition to
the trade throughout the South for
their decision, although they felt the
cotton trade should not be called
upon to bear this burden, notwith
standing the suggestion that any one
h. l4
proposed company and participate in
the profits or losses.
WHEAT. Heavy worlds shipments
of wheat from foreign exporting coun-
tries, notably Russie and the Danube,
Ihave been the cause of an easier feel
ing in the United Kingdom and Con-
tinental markets, and this has been
REFLECTED in the domestic ones. Ex-
ports from North America, including
Canada, continue small in comparison
with former years, and the flour
trade likewise shows a falling Off
Some anxiety over the Argentine crop
from drought caused a temporary re-
action, but timely rains quickly
brought about change in sentiment,
and indications now point to fairly
sizable crop for that country. The
contention is made that our price con-
cessions have been made too late, and
that in competition with the large
crops Of Russia and the Danubeian
provinces and the prospective one in
Argentine, still further reduction
must be made. Slight rallies may
from time to time be expected, but
will, in our opinion, be faint ones. and
barring further accidents to the Ar
gentine crop we look for a slowly
sagging market.
) CORN. The Bureau report issued
on Monday was bearish one, indicat-
; ing a crop of nearly three billion
, bushels with quality of high grade.
The producer has carefully watched
the growing crop, and when practical
ly assured of it's safety has been a
free seller of his last years supply.
Values have shown a sagging tenden-
Icy, and there is reason to believe that
: with a general weakening in all grains
a still lower range of levels will be
? seen in corn.
, OATS. Oats have also been de
j lpressed, with sentiment still bearish
: THE government report indicated 9
r lcrop of nearly eleven hundred million
E 1.-THE largest on record. Country sup
I piles are enormous, and the question
! riuoS Mill not +bo "a arrnnr ho com