The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-02
Condition % and Acreage Re-
ductiOn 1.3 Per Cent.
Cause Selling.
PRESENT MARKET OUTLOOK
Prospects for Crop Do Not In
dicate Material Decline
in Prices.
c,,,on states weather.

FOR Alabama and Mississippi partly cloudy
"a mo-, quite 80 warm to day: fair to-
no-ror. Hight variable winds
For Louisiana and eastern Texas. partly
c,opav 10 da, not quit. warm in north
.o-ti,r probably rain tomorrow; light to
'r,4e-lte variable Winds
For Western Texas partly cloudy. probably
.,,,l shower. to-day and tomorrow.
ro- OK .ahorit. fair TODAY and tomorrow.
FOR ,~kIn.as. partly cloudy to-day, fair
to.morf9~.
Cotton prices broke about IN points yes
terdav ON the issuance Of the bureau report
from Washington. which placed the condi-
lion a, 20 + against Si.3 last month, SIS last
wear and q ten year average Of sol. The
acreage was placed at 36,96O.o00 against
27.45S 600 acres last year. giving n reduc
ton Of per cent The figures were given
temporarily bearing construction simply
bacause they were somewhat above popular
expectations. In this column II has been
pointed out for the last ten days that the
condition would be likely To show between
% and 50.
At the same time no man of practical
experience In cotton culture believes there
mas been an improvement, OF 90 points
during June. This IL the greatest i'm
proverent ever recorded and conditions
favored no such gain. II is probable
hat the members OF the bureau OF sta
tstits. several of whom are amateurs
1t figuring out cotton conditions. placed
he June figures too low. Undoubtedly they
gave q condition considerably too low for
the States in the eastern belt simply be-
cause a great deal of cotton that had been
planted had not come up owing to dry
weather Experienced stats iCians would
u.s4
that was up. and this would have made
better showing Since the June report
has been compiled the late planted cot
ION has come up and furnished a much
more favorable outlook. This was to
have been expected under normal circum-
stances
In the opnion OF conservative cotton
men there is no fundamental reason for
! considering Yesterdays report bearish
The condition Of big crops shows an inn
proy,mcnt from June until August. Re
ports Of deterioration are already begin
ming TO come IN and If the crop should
show a decline during july il would have
10 b. placed in the category of short or
moderate crops. II was set forth IN this
column about two weeks ago that vet
eran cotton man had made wager that
IN, July condition would show ~ or bet
Tor and that 1t would be the highest con-
di'ion Of the season.
The acreage reduction was not quite
MS large as many expected. hut this was
because the Government officials reported
ou M" ara planted and to be planted"
The figures did not take INTO account the
Abandonment that inevitably follows from
a doughty season In the eastern belt and
O. Wet spring In the Southwest In fact the
area picked H. likely TO show "a reduc-
Ion Of 10 per cent. from the figures
reported YESTERDAY
Thos" who indulge in mathematics
figure the crop about ~ per cent. below
last year 100 condition and acreage actually
about per cent below last year which
would make falling of OF .. per cent
from last years yield Of 1i.75o. GOO bales
Ihls would amount to little over SOC. 900
and would Put the theoretical yield some
what below lio00 400 bales
The market looks fairly we'll liqudated
ana showed no actual weakness after the
frst furry ~ selling Liverpool with
stood the shock well and unless general
rains should come over the entire belt
within ~" ueNt week II IS believed that
Wces VIII harden materially.
Futures closed steady c to II points
over