The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-04-09
THE COTTON MARKET.
PLANTING OF NEW CROP WILL
BE GENERAL BY END OF
WEEK.
Heavy Rains and Cold Weather Will
Give the Advantage of the Bulls.

New Orleans, April 6.-The cotton
market this week will be more in
terested in the new crop than any
thing else. BY the end of the week
planting will be general over all but
the most northern sections of the cot
ton region, unless weather conditions
are unfavorable. Should the weather
be fair and moderately warm this
week 1t will be generally assumed
That the crop is getting at least an
average start and the bear side will
have the advantage. Heavy rains and
cold weather will interfere with plant
ing and will give the advantage to the
bulls. The first really critical stage
of the crop may now be said to be
at hand.
Next to weather and crop news, the
trade will be interested in the river
situation, although influences from
this source are more sentimental than
otherwise. Unbiased traders have
pointed out that the total area in
the central belt that may be affected
by overflOws is only about $4,000
acres and they contend that too much
importance should not be given to
such a small part of the entire area
to be planted this spring, which is
somewhere between 100000 and
100000 acres. Bears also have
advanced an argument which has con-
siderable merit and that is that, even
with the probable stage in the river
getting higher and higher, the high
est levels will be maintained only for
a short time, after which planting may
go on as usual. The effect of bad
river news on the market, however,
must be taken into consideration re-
gardless of whether it is justified or
not. Breaks in the levees in i'm
portant farming sections will un-
doubtedly result in higher prices in
the cotton market.
The spot situation, which the bulls
contend is improving, and the opera
tions of the bull clique, will be watch
ed closely and both are liable to have
some effect on prices. The May posi-
ton has become such that shorts
have liquidated large part Of their
holdings and very bullish rumors are
going about concerning the July op-
ton. Developments of Importance in
this direction are likely to come to
light at almost any time.
The prices Of cotton did not move
much last week, the extreme range
on the old crop Rae#rhs being 27 to
SO points while in the new crop
1t was only IS points. A feature Of
the week was the widening Of diff
ferences between the old and the new
crop months to nearly one cent. Not
so long ago they were very close to-
gether.
trading were an advance of to 8
points on the old crops and a de-
cline of to points on the new.
The high prices were made on We'd
nesday and the low prices on Mon
day. At the highest the trading
months were to % points over last
weeks close; at the lowest they were
10 to II points under.
In the spot department prices gain
cd onc-siXteenth of a cent, middling
closing at IL 9-1G against IL 1-2 last
week, and IL 1916 this week last
year. Sales on the spot amounted to
2,645 bales. against. 1924 last week,
and 2,120 this week last year Sales
to arrive amounted to 2,964 bales,
against 1867 last week and 2,91O this
week last year.