The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1912-11-12
NE.E4hLY COTTON MARKET
REt IEN

REVIEW.
New York, Nov. S.-Cott0n has al
Eanced under the stimulus OF A big
spot demand. home and foreign.
widespread killing frost. heavy rams
east OF the Mississippi river. which
a~ssraVa'e the damage and finally q
broadening speculation. This had
been accompanied ~ a tendency TO
reduce crop estimates. Some ara. as
low as 13,250,00 bales. The season
was Late east Of the Mississippi and
then came killing frosts on the nights
OF November al ,. on both sides OF
the MISSISSIPPI river. While III. crop
estimates at the present time 90 not
Seem as q rule to exceed 1880. 600
bales and are more apt TO be 1900.
600 TO Il. 250,0 900 bales and in some
cases are less than IA, 1000. 900 bales
the expectation of many close students
or cotton conditions is that the worlds
consumption Of American cotton will
approximate 1850, 900 bales ana II
suitable grades can be had ma even
approach $4,000, 600 bales, thus es-
tao1ishing a new high record. Bulls
argue that if with trade comparatively
poor last year the cotton world was
able to handle with such surprising
case q crop Of 1920. 900 bales il can
certainly handle this year one Of IL
100000 to 14.5OO,0 600 bales with
trade exhibiting a revival not on
~ IN cotton goods but in wool
en- and silks to say nothing of
n business awakening throughout
the great of trade in general.
The assurance too, Of F~resident-elect
Wilson that the American business
man has nothing to fear has also had
q good effect. Yet as regards the
tariff, bulls maintain it could be re-
duced without serious harm to the
cotton manufacturing industry as the
production Of coarse cotton Is a fea-
ture Of American trade which could
very easily stand the test Of foreign
competition. However,, this Inav be,
the tariff is certainly not q feature Of
the market. What the average member
Of trade has his eyes fixeI upon are
the crop reports seemingly purtending
a smaller yield han was al one tinc
expected and the big demand. II tho
worlds consumption Of American
cotton equals that of last year a crop
Of 100000 0 bales, it is argued,
might easily AVE the effect OF bring
Ing about much higher prices. Liver
pool straddlers have bought freely
here at times and so have some o.
the spot houses and traders short o.
the market including, it seems som
of the Waidorf-Astoria element VIII,
r recently took the short side. Of lat,
there has been some profit-taking b.
large Wall street interests but tn
S cotton was we'll absorbed. Liverpool
n spot sales have been 10000 to 1900
bales a day. Manchester has bee
h strong. Print cloths sales have bee
e liberal. On the other hand the re
r ceipts at Texas points have continue
large. The tendency has been I
build up considerable long intere:
here. Some have unprecedented
- large total in the ginning report t
81 appear on the sth nstan The Sout
" hoC haop y CT 90 W. r. r. -,
tual cotton. At times too, some Of tn
- large spot houses have sold. Ate
= an advance Of IS on a bale it is a.
Z, gued that there ought to be a rea,
81 ton. The general sentiment. how
" ever, has become n~oticeab1y MOI
= bullish. The ginners report shove
S,849,S98 bales against s,e7O,9t
up to November LIST, last yea
This included on the one har
r 3,6s9,124 in Texas against 3
es 211,573 last year and on the 9th,
ut only ~1,110,915 bales in Georg
against 1.905,76 last yea