The log cabin Democrat., 1916-10-03
COTTON AND SEED BOTH TAKE JUMP l6-CENT MARK CROSSED Seed Bringing as High as $45.75 per TOn-Much Higher Prices are
 Predicted.

SOJIou anu ColtOIlSeeu DOIH LOOK DlR upward jumps on the local market to- day, cotton advancing to a ruling price of 16 cents even, with a few bales of upland short cotton bringing as high as l610 and 1915.
 Seed advanced sharply from $40 to $43 per ton late yesterday afternoon and fight between two buyers ran the price up to $45.75 per ton this afternoon, though most of the buyers were still held by $43 limit
 That there will be no chance for cheap cotton this season is the concen- sus of opinion among Conway cotton men, following the two government re- ports issued yesterday. Predictions of 20-cent price are being heard on all sides, and should the European war suddenly end, no one has the courage even to hazard a guess at what the top would be-
 Regarding the government reports of yesterday and the probable future effect on the cotton market, T. Q. Gal breath, the Memphis Commercial Ap- peals cotton expert, says today:
 "The ginning figures probably fur nished greater surprise than did the condition report. Expectations had ranged between 4,O00,OOO and 4,4OO,- 900 bales for the period, or total of around 5,000000 bales to September 25. When. figures making the total for the season to September 25 only 4,062,O00 bales were posted on the board at the opening of the market values started upward Reports of the rapid opening, picking, ginning and selling of the crop had convinced the trade that the ginnings to date repre- scented an unusually large percentage of the total, and it was reasoned that the ginnings forecasted low condi- tion report. That the ginnings actual ly made record for size for the pc riod made little difference. It was the belief that the crop had been more rapidly gathered than ever be- fore that influenced the trade.
 "The condition figures of 56.3 per cent of normal, with an indicated yield of 11,637,000 bales of 800 pounds gross weight, is the lowest September condition ever recorded, and brings the indicated yield down 1000 bales from the August 26 promise, and leaves the trade to look forward to a total growth only something like half million bales larger than last year. These figures are based upon normal weather for the remainder of the sea- son and the presumption that l per cent of the planted area has been abandoned.
 "The result on sentiment of the two reports was to bring new recruits to the bull side, and many of the big leaders were freely predicting 20 cents by Thanksgiving. There were, however, many traders who expressed a desire to witness the manner in which spinners viewed the report be- fore taking active part in the trad ing. Should spinners take the re- ports at face value and continue, or increase, their purchases against for ward needs, it is probably that pro- nounced activity would result in the contract market, with bulls dictating the course of values On the other hand, should spinners show a dispo sition to balk at current or higher prices, the weight of the movement would probably again become fac tor to restrain broad activity on the constructive side.
 Bulls hold to the theory that there is shortage in actual cotton and that prices will have to advance to a point where consumption will be checked be- lore the top has been reached. The extraordinary prosperity of spinners, and the people who buy their products, make it certain that this price is to be found at still higher levels, espe cially in this country. What the effect of such unheard of values may be on Co, ,.t,e ta hn