The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-03-14
WEEKLY COTTON REVIEW
SHORTS HAVE BEEN OVERRIDING
IL BUSINESS, ESPECIALLY on
OCTOBER, WITH RESULT THAT
COVERING MOVEMENT LED TO
SHARP ADVANCE.
(By the Associated Press.

New York. March I0.-Though in the
fore part of the week prices of cotton
gave way, they have been OVERRIDING the
short side. The short interest on Octo-
Der had become especially large and a
hot wave in Texas the other day led
many of these shorts to cover with Il
preciDitancv that led III a sharp advance.
Bulls predict higher prices in the belief
that every bale available will be wanted
before the end of the season and that
August 81 viii see Il visible supply in the
country nearly half Il million bales small
err than at the tame time last year. no mat
ter what complaints may be made about
trade now or in the meantime. lancashire,
for that matter, Is reporting Il rather bet
ter business: silver has advanced in Lon
don; the Bank Of England has reduced
it's rate of discount to i per cent and
Manchester SpinnerS have latterly been
calling freely for cotton. The movement
of the India crop to Bombay continues
light; the certificated stock here is fast
disappearing and most of it, it is SAID.
will be exported i'll the not very distant
future and it is remarked that when flu
lures decline here the spot markets ar
the South show 4 tirmness which is not a
little disconcerting TO those who think that
the general trend of p~rices'must be down
ward. Spinners takings make 4 good ca
hibit and the weekend statistics promise
to be buliish. in the estimation Of many
for weeks TO come. Meantime. powerful
interests appear to be very builish on May
and October. even if they are short OF
July and August. A lending mining man
is still a bull: a large Texas operator
who has been here a year is as firm aS
ever in his adherence TO the bull side
large spot merchants are believed 10 be
strongly of the opinion that the May OPP
ton Is destined to reach much higher
prices: spinners are buying to some ex
tent and the exports thus far this season
are about 1.750,0 900 bales larger than dur
ing 4 like period last season. At the same
time many believe that the crop Is not
more then 1.JO0!0D0 bales larger than the
last one. if it is that. There are those in
deed, who think that the tinal ginning re
port on March 20. will reveal q crop this
season not much over 1l,158.0O bales Or
spinnable cotton. Considerable stress i
laid on this contention. On the other
hand trade for the most part j. duh. spot
markets seem sluggish. yarns are de
pressed, some mills in Georgia and the
Carolinas of late have been reported in m
embarrassed condition. the failure Of =
cotton firm in Barcelona. Spain. for S1S.-
600 was reported the other day. the calling
Of an extra session OF Congress Tor Apri
/. is more or less Il disturbing feature IN
the opipion of some since it may causr
more or less interruptions - i'ddt 'hh
afford a new opportunity for duti-opflon
IepisIation. The massiug OF eo.oo troops
on the Mexican frontier * also cited az
a possible disturbing factor. Now ahd
then some of the big bulls have apparently
been free sellers on bulges. The general
tone Of late. however. has been more en-
coura2ing to the believers in higher prizes.
The temperature OF an
be between As and 50 degrees
for successful Matching. 1t might