New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-08
CROP MARKET REVIEW
Cotton'S Sensational Week.
Grains Lower.

One OF the most stirring weeks known
in many a day on the Cotton Exchange
ended Saturday. Prices throughout were
subject TO extreme fluctuations and there
we're no less than two separate sharp
breaks since Monday the first following
the publication OF the governments crop
estimate on Tuesday. the first session Of
the week, when prices scared on indlca-
tons Of an unusually small crop. and the
other late in the week, when prices
dropped on a rumor that the national
Democratic caucus had approved a bill
whereby cotton trading would become sub
ject 10 a tax OF one-tenth OF cent a
pound.
The weather in the South continued
bad, and the governments poor crop re-
port was backed up by several private
estimates, which indicated an extremely
low yield in Texas, Arkansas and Okla
homa According to the Department of
Agricultures figures, the cotton crop this
year will be no higher than $50 per cent,
against 74.S per cent last year and
74.7 per cent average for the last ten
years The report suggests a total yield
Of 1890, 900 bales q
The excitement which followed the pub
llcation Of these figures carried prices up
more than 100 points before reaction
set in. The highest level Of the bulge was
reached on Wednesday, when December
and March contracts sold up TO 1885,
January 10 1926. May 10 1887 and October
10 1893. a total advance Of "a 70 20
noints for the two last named since the
record low figures for the season were
set. on August Il.
Prices remained high until Friday and
there seemed a possibility OF even higher
figures being set when smalh panic
seized the market on a fash from Wash
ington that One-tenth Of cent a pound
tax was about 70 be levied Offerings
were pourod on the market from all d.
rections with the result that there was
loss of 80 points. or g. bale, in less
than an hour The Clark cotton tax biiI'
rs the proposed measure Is called. would
tax all transactions In future cottons'
wbother tho contracts were for specu-
lative or hedging purposes. The tax
would amount 10 $50 on every 100 oales
NJ cotton sold for any but immediate de-
livery.
saturday tho market remained some
what unsettled. because Of the proposed
legislation. although the news from WASH
iogton WAS ouleting and the situation not
as calamitous as ~ first reported. Inc
market recovered a small amount or
strength. but ended the week in an unset
tied condition. with a promise of further
startling developments this week
Wheat exhibited tendency To rise
carly I'm the week. with lively demanH
and light offerings European markets
were generally stronger, and there was
rood deal Of buying Of cash wheat FOR
future foreign delivery. During the last
DAVIS Of tho week. however, there was a
falling N I'm trade buying orders neins
scarce. Returns Of spring wheat thrash
ing have been favorable, the yield In some
quarters being IN excess Of the estimates.
corn was exceedingly active last week
particularly on the first days Wheh its
strength Influenced all other grain mar
kets. Price fluctuations were extreme IN
many instances The weather In the
Southwest remained hot and dry, Which
raw. many traders the firm impression
hat the crop would he lighter than gen
orally conceded The consensus OF oplh-
a., however. was that the government re-
,or, ~ the crop. which will be issued
sbor,l, would place this years Yield IN
-. ,siabborhood Of 1900. 100000 bushels
rynorts from other countries, particularly
from the Argentine Republic continue"
peavv ~ the 100000 bushels brought
mao tho country $4,000 bushels came 10
New York
There was no particularly active move
uent IN oats during the week fluctuations
for the most part being confined 10
narrow range In sympathy with the trenu
NJ other grains particularly corn
Coffee remained rather inactive atter
tho nrevioiis week. when prices went 10
record figures on frost reports IN braA''
Oreninr on Tuesday at slight decline
q, closed AZ a loss OF 70 10 ~ points
r,,,~i,e tbe.reyt DAYS trading the loss
nc o,orcorne and the closing was al
80, ADVANCE OF Y 10 % points on
yv,drosdav the market was lower hut the
succeeding session prices rallied soU'e-
What The last figures Of the week were
b.r5Iy changed from the opening quota
tlons
IN the country produce markets there
was little change worthy of note. fruits
,rd vegetables were in good supply ana
or,er,nrs were we'll taken. Prices on the
finest lines were firm but ordinary STOCK
cold rather low. as is common nj this
season.
az tho list ~ twenty-four staple articles
of consumption compiled by The Tribune
,o,rtesn Of the number indicated that the
average price for the week was higher
than that OF the preceding week. our
ar,ic,es were less in price. including Hour
and family beef, while four were AZ
standstlll. having neither increased I'D
cost nor become cheaper.
CURB QUOTATIONS.