The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-07-25
ACTIVE COTTON
WEEK EXPECTED
Prevailing Pent Up Specula-
ton May Break Loose
WEATHER IS BIG FACTOR
Continuation ofNDrouth in Texas VIII
Mean Increase In the Movement
of New COtton-The Situa-
tIon in Oklahoma

New Orleans, July 24-Recent develop
ments indicate that the cotton market
this week will be an active and interest
ing affair." and there were many FEATURES
on the closing last week that appeared
to promise greater developments during
the week to come. Trading has been
light of late, not because SPECTATORS
have not been taking an interest In the
situation, but because they have become
over-cautious owing to the size of the OBJ
erations in the old crop and the great
danger that might ensue to every one
should these operations go wrong.
This pent-up speculation may break at
any time under the right conditions. This
will be the last week of the new famous
July deal, and 1t may be the widest yet.
Some sort of settlement either across
the ring or in private may be brought
about between the longs and the shorts,
Should the bulls refuse private settle
ment and insist on shorts buying their
covers in the open market the greatest
excitement would ensue, and what might
actually he called a. corner would be
brought about.
perate efforts to find enough spot cot
ton to cover with and will rake the entire
cotton belt for supplies. In addition to
this there was every indication on the
week end that the movement of cotton
from mills to New York would continue
determined certain element In southern
mills is bitterly antagonistic to the bull
clique and is doing everything in its
power to break its influence. From this
element unexpected tenders of spots
against July contracts are coming in.
Prominent spot firms predicted Satur-
day that the movement coastwise of act
ual cotton this week as the result or
efforts to get 1t to New York before
the last delivery day for July would
exceed all expectations
The situation in the new crop months
is not likely to be as one-sided this week
as 1t las been. To the surprise of the
bulls the receipts of new cotton at Hous-
ton Saturday were 40 bales, making "a
bales so far this season, one of the
largest movements of new cotton to
Houston at this date on record, so far
as statisticians could discover If the
movement continues to increase 1t will
have decisive effect on prices. for one
of the favorite arguments of the bulls all
this season has been that large early
movement of new cotton was an impossi-
bility owing to the lateness of the season.
In this connection the weather will be
watched very closely for some time to
come. Texas has had long drouth, and
under 1t cotton is maturing fast in some
counties Should the drouth s.. continue
much longer premature opening of bolls
will result and the movement of new cot
ton will increase.
Oklahoma will be of more interest to
the bear side of the market than any
other state in the belt. The most optimis-
tic crop accounts are poor at the best for
the bulls. Some planters of prominence
have written local operators that the
finest crop In the history of the state may
be expected. and this offsets the silly bear
theory of bucketshop. So able have the
reports become in influence that they
have resulted In crop estimates for Ok
lahoma of as high as 100000 bales. Nat
urally the bulls say such figures are alb
surd, but they condone the estimate as
they believe fresh evidence supporting
the claims can be produced for their side,
while the bear sare fnsistent in their
pessimistic views to affect prices.
The weather over Sunday will have
more to do with the opening of the mar
ket than anything else and buying for
long account will be brought out on re-
ports of rain in the cotton belt.