The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-03-21
COTTON MARKET
WEEKLY REVIEW
The New Crop Will Come Into
Prominence This Week
THE POSITION OF PATTEN
Manchester Market Is Being Closely
Wsfchcd-New Week Brings Final
Report on Cotton Ginning From
The Census Bureau

New Orleans, March 20-The result of
the trading in the future depa of
the cotton market last week served to
indicate that the new crop will come into
equal prominence with the old This Is
development that few bulls have
predicted for some time, but which the
trade in general has refused to accept.
The contention of these few bulls is
that never before in what is called mod
ern'' cotton trading did the entire world
so hang on what the new crop would
bring forth. Even the bears admit that
this coming season the world probably
will require the largest amount of raw
cotton In Its entire history, ancient or
modern. Naturally the bears believe the
world is going to get such q supply,
else they would not be bears. The bulls
claim the world needs such an enormous
supply of cotton because stocks of both
cotton and cotton goods have sunk to a
low level everywhere, for one reason or
another. In such a situation anything
that promises to reduce the yield of the
new crop becomes market factor of
the utmost importance. The bulls claim
that the bumper crop cannot be raised
II the drouth in Texas continues They
succeeded in impressing many followers
with this belief last week with the re-
suit that the new crop options advanced
4 or cent pound while the old crop
remained at practically the closing week
before. This week the bulls will increase
their efforts and IL the weather continues
dry in the west their operations in the
distant months will assume greater i'm
portafce than usual for the seed of the
usual crop Is planted. Should plentiful
rains fall in Texas. soaking downpours
that will put much needed moisture into
the very sub-soil, it is but fair to as
sumo that the bulls will lose their grip,
that fair-mnded traders will admit that
the prospects are again for large crop
and that the bears will have the advan-
tage of the trading
If interest In the new crop increases,
interest in the old Is bound to suffer. Al
the same time the leading bulls still main
tain their position on the near months
and sooner or later developments that
will attract the attention Of the entire
world are bound to come to light. Pats
ten arrived in this country at the week
end and bears charge him with selling of
some of his holdings the minute he set
foot on land. His friends denied this and
insisted he was still buying.
The Manchester market will be close
~ watched by those interested in the old
crops and news of such a bullish nature
as came across the water this last week
continues to be sent over 1t may be that
the trading hykse will get back into July
again to some extent. Exports OF cotton
goods from this country last week de-
veloped an enormous increase over the
preceding weeks of the calendar year
and the bulls will play up any further
increase this week, with the view of in
fiuencing old crop prices.
The new week opens with the final
report of the season on cotton ginning
from the census bureau. This will prob
ably not amount to much as a market
factor The trade is pretty well con-
WINGED that the figures, including linters.
will be between, 10. $4,000 and 10,50000O
bales. Bulls are inclined to the former
figures and bears to the latter. Should
the report fall below or above this range,
something the trade as a whole GOES not
think possible, the market will move
strongly one way or the other.
1t will be a short week on the cotton
exchanges of the world because of the
Easter holidays. The New Orleans mar
ket will close Thursday night not to open
until the following Monday morning.
Much evening up of accounts over the
triple holiday will naturally be seen
Wednesday and Thursday.