The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1911-02-10
CAUSE Of
COTTON DROP
INCREASED INLAND MOVEMENT
CAUSES TRADE TO BELIEVE 1910
CROP TO REACH 100000
PRESSUE FROM LIVERPOOL

New 4lrk, Feb. S.-Week after
| week the insight movement OF the
crop continues to show such a gain
over the movement Of. last season
| that the trade have finally been
obliged to increase their estimates Of
| the yield Of this season to above 12,-
100000 bales, even 12,25O,0OO bales is
| thought probable, while some few are
so impressed by the movement as to
| look for a possible crop of 12,5OO,OOO
| bales. This constant increase in the
| movement has been in the face of ad-
vices of only small amount left in
| the country, and it has been there
| fore more difficult to explain Final
| ly the pressure upon Liverpool be-
| came so heavy that the market coul6
no longer absorb even the small
amount of its own stock, which has
been owned abroad and broke away
from the American basis of 15c for the
| Spring positions. In turn, our mar
| ket holding, as it did, the hedges
sold against the Liverpool stock, was
crushed down, until the liquidation
| by holders finally brought about the
decline to 1430 for May, this noon.
From this point there has been a
sharp reaction, and tonight the trade
are looking forward to an advance
| n Liverpool, which will arrest the
| decline
That market is relatively the cheap
| .6t market III the world, so that we
| must expect it to take the lead in
| any upward movement It would ap-
pear as if portion of the large bust
| ton of an active demand from the
| East, which did not materialize, SC
| hat the Manchester merchants sold
cotton in Liverpool against their pur-
| chases of yarns and cloths. While we
| hear of the adverse Influence of the
plague in China upon the Manchester
market, we doubt if this factor has
as yet had any great effect upon busi-
ness, because the trade in Manches-
| 'er is largely with Southern China,
| while the plague does not yet appear
| TO have spread South of Tien Tsin.
At the decline to a basis of IA IL
cents there is a general disposition
20 regard the decline as at an end,
On the theory that the world will need
and consume all of the American cot
tin we have raised this season on
such a basis of value. This we con
slider the question now before th
trade for their decision; the market
advanced nearly three cents a pound
on the belief in very short crop and
has declined about cent pound on
the disappointment felt that the yield
had been underestimate.
Now the market passes under the
control of the question of consump-
ton and of the prospect of large
average and good start for the
coming crop. Fluctuations will occur
from other conditions, but the final
value of the remainder of this cror
will be determined by the influences
which we have stated In connection
with the question of consumption, we
find the trade journals now discuss
ing the extent to which the prevail
ing fashions have curtailed the use of
textile goods; a curious feature to
which we called your attention last
August. However, if the merchants
who hold small stocks of goods are
of the belief that the new crop has a
good start and is likely to sell in
lower basis than now prevailing, they
will continue to buy from hand to
mouth. Such course would bring
about a gradual decline, as spinners
would not find the demand to Justly
large purchases of clifton. On the
sther hand any facts which would
aHange this oninion, and which would
Indicate another year of small cotton