The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-23

b4.9 per cent the previous year and As
per cent. in 1908 and Ar per cent in
1904. Ginning figures this year, how
over. are likely TO be very misl eading
Tor calculations on the crop.
This is chiefly for the reason that
this years crop has been the earliest
in developing practically on record
with the longest stretch of the most fu-
, vorable weather during the last seven
weeks for picking and ginning. The
| crop has never been ginned more rap
idly in any season than this year. Con-
sequently 1t is not surprising that the
ginning figues should break all pre-
vious records to date.
The Position of SpInners.
Therefore the trade is now formulat-
Ing the most bearish view regarding
the probable tendency of prices on the
size of the crop, and also on the trade
conditions and the probable require
inents of the world spinners. In the
meantime spot cotton has sold in some
OF the interior points. especially in
Georgia, the past week as low as S "a
cents per pound. This is near the
average cost of production and COM
pares with the average of lax cents,
which the last two crops brought dur
ing the last two seasons of short crops
The worlds spinnerS have not had suct
an opportunity to buy cotton so cheap
ly in the manufacture of yarns and
cotton goods since early In the spring
OF 1908. following the panic of 1907,
or since the collapse from the Sully
boom and the cotton famine of carly in
1904.
That spinners are taking advantage
of the cheapness of the price and are
buying freely is an undisputed fact.
This is reflected by the heavy ship
ments. particularly TO English and
Continental points But both the
Northern and Southern spinners' TAX
ings SO far to date are smaller in the
aggregate than what they took from
the opening of the season to this week
last year. The uncertainty of the anti
trust movement at Washington and the
prospect of a sharp revision in the
tariff when Congress convencs this
winter have doubtless had more of a
restraining influence in the attitude of
American spinners in their buying than
among the foreign spinners, although
they. too. have had their trouuies from
uncertain politics and the Chinese rev.
olution, as well as the Italian war on
Turkey.
The Question of killing Frost.
At the moment it is largely weather
market, on the fear of killing frost
developing in the cotton belt TO cut
down the top crop. There were two
i'pSt SNditS tnc last week, out
nothing developed from them. The
cold wave, which has been moving from
the West, however, may still enter the
belt and cause light TO heavy frost
afong the northerly sections Tonight
or tomorrow.
If light frost occurs it will do little
damage, as killing frost is necessary
to freeze the plants and prevent fur
Their growth and development of bolls
Contrary to general expectations, a
good top crop has been in process of
development in many sections of the
belt from the fine weather of the last
month but in order TO secure this there
should be no killing frost or freezing
weather until after the first week in
November. A hard. killing frost with
in the next ten days would cause a
modification of the present extreme
crop estimates of over $1,000, 900 bales.
as expressed by the most prolific aie
optimistic of crop experts and trade
interests, to the more conservative
view of between 100000 and 14,5O0,-
900 bales.