Durant weekly news. (Durant, Choctaw Nation, Indian Territory [Okla.]) 190?-1944, 1914-12-25
Cotton Market.


investors continue shy. pending a
more definite idea Of next years cot
ton acreage. the pressing to sell just
before Christmas is not nearly as
marked as usual, and the prospects
of largely increased exports In the
next few months. has given a better
tone throughout the week to the
Southern Spot Markets. Galveston
is said to be very heavily booked for
shipment during December and jan
uary. and in fact, all the way up to
April, and as the marine insurance
rates show tendency to decline. It
is entirely probable that exports will
be even larger than now indicated II
only enough ships can be secured to
move the additional cotton.
Great Brttian holds several hun
dred thousand bales less cotton than
usual. and an American consurs re-
port says that there exists practically
an unlimited demand from Germany
at exhorbltant prices, and further
says that the country will probably
require two million bales, and that
the same authorities. place Austria's
needs at 500 thousand bales. Many
who formerly estimated the exports
at 4 to s million bales now admit 1t
will reach Z million bales.
One thing is plain and that is that
the large government estimate of last
week, has failed to affect Liverpool
or the south and that they have treat
ed it as burnt powder. The Southern
holders are not inclined to sell a
hedge on their cotton. deeming the
price too low and preferring to take
a chance on further decline. They
realize that as the eastern banks are
paying in their. subscriptions to the
cotton loan pool, taut they can now
borrow six cents per pound If they
care to, they also realize the fact
that financial conditions in this coun
try are much improved, that the cred
1t conditions in this country are ex-
ceptionally good that reserves are
abundant. and short term money is
cheap.
The unrestricted trading in stocks
on the New York Exchange, was re-
sumed this week on basis that was
highly encouraging to all interests.
and showed demand and confidence
In our securities that cannot but help
to stimulate a revival of business In
sli lines, the better feeling should
be further accelerated by the 5 per
cent increase in freight rates allow
ed railroads this week by the litter
State Commerce Commission.
The reduction Of the discount to
per cent by the ederal Reserve Board
also tends to show that financial con
ditions are again approaching nor
NAL and il the investors can only
be convinced that the necessary re-
ductjon in cotton acreage will be
carried out. the holding OF this sup
ply will not prove to be as great a
burden as It was at first thought.
S1n addition to the acreage rcdlc-
tion, which will be forced. a factor
not to be overlooked. Is the heavy rc-
duction In the use OF fertilizers.
s<hich is cure to take place next sea-
SON; in the first place from the lack
Of funds to buy them with. and in the
second place. from the scarcity of
nertaf ningredients in tAis country |
which are necessary to their manu-
this in connection with the
heavy export of horses ANA r.ules for
war purposes is certain to have an
Important bearing on tho tmount Of /
lint that an acre can produce next
Ieaeon
While the heavy surplus 49, lAe-
Y prevent any material ad rance at
his time, (unles ssame shnuld be
by prospects of psace
which are not now encouraging, It
would seem to us. as though the cot
on has good chance Of hoIi'ig its
wn under existing co iditions. with
he possibility OF a substantial rise
nth any favorabeI development, in
ther words, as If All known adverse
had been thoroughly dis
Dunted !