The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-28
Big SHORT INTEREST,"
SUSTAINS COTTON
Local Market Resists Liverpool
Weakness and Advances
on Covering.
BENEFITS OF FERTILIZER

Covering by shorts was largely re-
nonsble for a small advance in cotton
Yesterday, with a net gain OF about 5
uo,nts at the close. This recovery was
scored In the face Of n very. weak set
OF Liverpool cables, where considerable
pressure had resulted from liquidation
prior 10 the w~hitsuntide holidays, some
selling against seized cotton and fear OF
labor trouble. In this connection II Is
reported that a strike at one OF the Old
ham mills had resulted In a threat from
The Federation OF Master Cotton SPIN
ners to close all the mills until tho
strikers returned. II the dispute should
reach the lockout stage It would involve
100000 operatives.
There was a fair demand for cotton
Immediately on the opening Of the To-
cal market, however, as prices showed
an overnight drop of about to .
points. The steady undertone called
forth cable inquiries from Liverpool as
10 the reason for the failure OF New
York to break. The explanation usu-
ally forthcoming was 10 the effect that
the short interest was large and the
market was in a sold out condition.
There was little feature to the news.
The journal Of Commerce reports on
Texas, Oklahoma and Arkansas were
oonfrmatory OF general trade informa-
ton TO the effect that the season wal
somewhat late but nat crop prospects
were more favorable. The weather wal
generally settled. with the exception of
showers In portions Of the western beN
and parts OF Georgia and Alabama.
Liverpool win be closed to-day and
tomorrow. Now York will be closed
Monday. although New Orleans will be
open Tho Government crop report on
condition will be published At noon on
..es-EtesSs..s statement on tn. fer
tliler situation Ia contained In the
weekly crop letter OF the r. b. Fisk Cot
ton Company Of Montgomery. Ala.
which Gays:
we are now informed by the fertii-
izer people that there will probably be
more fertilizer used thar they had pre-
viouslX anticipated. and they express the
belief Mat the average decrease in the
Atlantic states Is not likely to exceed
our st!mat of 40 per cent.
we have also lately had occasion to
make some Investigations as to the ef-
feet OF this reduction in the use of fer
ullzers on the yield. and the result we
consider rather interesting. For in
stance. upon \the theory that fertilizer
adds about ~ per sent. to the yield.
which is the figure We secured In con-
sulting farmers n fertilizer people, and
based upon a prohibition without the use
Of fertilizer OF aSoSt l+0 pounds Of lint
cotton per acre OF. the general average
OF the land on which fertilizer Is used,
which also Is the average figure placed
by people We consulted in this respect.
this would mean a production with fer
t!lizer OF about 30 pounds. or an In
crease of seventy pounds. Therefore
10 per cent. decrease would mean 40
per cent. Of seventy pounds. which fig
ures ,wenty-eight pounds. or a produce
ton OF lS2 pounds versus 2l0 pounds.
making "A reduction of approximately II
per cent. In other words. the result
shows that a decrease of 40 per cent. in
the use OF fertilizers would mean a re-
duction in yield of about II per cent.
On the acreage which is ordinarily fer
t.lized.
We still adhere TO our opinion that
the decrease In acreage In this State will
De about IL 10 Is per cent"
Futures closed sf.ady