The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1910-07-26
Hubbard Bros. Market Letter.

Cotton-With the ending of the
week the most interesting state of |
the market continues. The sharp de-
cline of a few days ago, was appa-
rently brought about by a misconcep-
ton of the attitude of the bull inter
est, which disclaimed with vehemence |
afterward that their holdings hadbeen |
sold out, and waitec with unabated |
confidence and Indifference till the !
end of the selling had been reached.
This sublime assurance on the part of
those who have the old crop positions
well in hand, has been eneagh to Off
set the effect of the cotton pointing
here from all directions, from Eu
rope, New Orleans, and from the spin
ners of the Eastern states who are
disposing of their surplus at the high
rates ruling on contracts here. This
is a sufficient and splendid vindica-
ton of the validity of the contracts
on the New York cotton exchange.
They must be filed to the letter.
This approach of cotton is without
effect upon the market, it seems to
have been expected and provided for.
1t is realized that whatever ship
ments may come here, must be re-
placed from the early receipts Of the
new crop, and in view of this the mar
ket is steady to firm, with sellers bid
ing the time when the outlook will be
clearer.
Conditions at present are generally
favorable. Advices vary little from
day to day, trade reports are not en-
couraging, and crop reports in the
main are excellent-with the high
prices stimulating every effort tc
make the best OF casual local poor con
ditions. But the necessity for a large
yield, causes sellers that would be
, to hold aRoof AZ to be watchers
r the outcome 6he immediate con
flict, rather a participators in the
distant one. outside trading is limit
ed to those influenced by crop condi
t tions near home, and apart from this
and the belated ones who are uncer
tain and nervous over the July-Aug
ust situation and strength, business is
, inconsequent. Developments will bt
t rapid and interesting.
OJ Wheat-The situation in the north
$ west only gets worse as we go along
+ very bullish with sharp deterioration
v in the Russian and French crops ant
r unfavorable weather in Argentine
The loss west of the Rocky Mountain.
I has been quite severe also, with Wash
J. ington the worst sufferer. The win
ter wheat news has been favorabl
j farmers are free sellers, principally OF
t account of the high price ruling, which
is attractive. The northwest will no
have enough wheat for their need
e and reserves without buying a lot Q
IT winter wheat. The ability to hol
= wheat by farmers is very little impair
II ed in our opinion, and after the rul
t of wheat from the first threshings
o over, we look for decided hardenin
of their holding policy. The situation
. is so delicately balanced now as t
e supply and demand that with any ful
1t ther strength abroad high prices wi
g easily be attained and probably he1t
% While t he winter wheat movement
Ie ON, is the only chance, we think, t
buy wheat that will look comparative
Z " cheap as we go along.
y Corn-Has had shock Of fea
aboaat the growing crop which ha
advanced prices very sharply. Will
no material damage has been done a
= yet, the fear is well grounded, an
any lack OF moisture during the rest c
: July and through August would r.
suit in higher prices. 1t is a weathe
market purely and while in this situs
ton can he bought on breaks.
Provisions-We have been bearis
so long as it is refreshing to see
chance to change. We now feel tha
the tendency is likely to- }be higher an
: prefer the long side.
h
Bisbee. Ariz, July 25.-A clou'