The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-10-24
WEEKLY COTTON REVIEW.
CIV the Associated Press

Wy Ia ASSOSid(So ieSS-t
New York, Oct. 20.-Cotton. which
earlier in the week showed downward
tendency under pressure of heavy of
ferings from the South, both at home
and abroad, has latterly suddenly
faced about and advanced on the
much company. Everybody has as
sumed it was a perfectly safe thing
to sell cotton short on an anticipated
crop of from 10000 to 1000
600 bales as against a worlds CON
sumption Of American cotton last
a OF only about 1900, 600 bales.
and an estimated consumption this
"a of not over 12,5OO,0 900 bales to
100000 bales. But some close
students of cotton conditions affirm
that if prices remain at the present
level Or become much cheaper he
spinners of the world might take a
quantity of American cotton far be
yond their actual consumption. In
other words, while this consumption
might not be more than Is, 1000, 900
price conditions the worlds spinners
might be induced to take Is, zoe. 900
bales or even more if the cotton
could be had Then again the re
ceiptS. it is contended, do not justify
the extremely high crop estimates.
over 100000 bales. Also. there is
the danger of frost. This has caused
not a little uneasiness among the
overcrowded shorts. For many
weeks the weather conditions In the
South were not unlike those of July
or August, but bulls point out hat
in the nature Of things this could not
be expected to last and hat with a
largely Over extended short interest
begotten OF u~nbounded confidence on
the present rank and file Of traders
the bear side OF the market the
first sign Of a general killing frost
over an extensive tract Of cotton belt.
a bear stampede might easily be
about. Texas and Memphis
operators, formerly bearish, have lat
and have made things unpleasant for
those who stuck to the short side OF
the market. Many of the Waldorf
Astoria element on the short side
V deemed it prudent to cover.
Room traders have been quick to
for a rise. Liverpool has pricked up
its ears and followed in the bull wake
IN spite of the unfavorable dispatches
from Manchester, where a fear is ex-
pressed that China and Turkey, BY
reason of war troubles, may cancel
large orders for cloths. These two
countries are the two largest Of
L~ancashire's markets. On the other
hand there are still a good many
bears. They are Of the conviction
mat this is a record breaking crop
mat the consumption by reason OF
the nigh cost Of living is likely to fall
a couple Of million bales below the
Yield OF cotton and that while rallies
Tor the time nay occur, the general
drlft prices must be downward until
the pressure OF the actual cotton on
the WORLDS market is sensibly reIiev-
co. me worst feature for some
time past has been the hedge selling
at New York said to be Of unprece-
oented volume and for which there
is little market except among the
shorts. But the spot market have
latterly shown more steadiness. The
south Is Offering cotton less freely in
Liverpool and the approach of ne
frost period is expected to bring with
IL larger buying by spinners and less
operations On the short side. IN
terror receipts have lately decreased.
Movement Of Cotton.