The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-07-29
WEEKLY REVIEW
OF COTTON MARKET
Weather Reports Cause In
creased Speculative
Activity

New York, July 2S-The cotton mar
ket has shown increased speculative
activity during the past week with a
strong upward tendency to prices as
a result of very bullish crop and wealth
err news, particularly from the eastern
belt. For the first time these reports
were accompanied by buying orders
and the prospects for bullsh bureau
report on August / attracted good
deal of interest from people who have
not been identified with cotton oper-
ations in long time.
1t was generally believed that the
crop in the eastern belt had suffered
considerable deterioration and while
part of this was expected to be made
up by a large yield in the southwest,
the character of crop advices from
Texas late in the week became so I'M
favorable because of dry weather that
this possibility was abandoned Pri-
vate condition figures issued on FRI
day crystallized around 1855, or about
80 points under the last government
report while special advices from the
eastern belt to a local trade paper in
dicated a decline in condition there of
about Z points for the month The ap-
pearance of a new disturbance in the
gulf late in the week attracted much
attention in view of its possibilities
for causing more rain in the eastern
belt where conditions have begun to
the earmarks of a tropical storm and,
moreover, would be just as likely 10
cause rain in the western belt, where
it is needed as in the east, where there
has been too much precipitation, it
was about a standoff as amarket fac
tor.
Trade interests have shown more dis
position to buy this week on the idea
that it has been pretty we'll established
that the crop is entering the uncer-
tain August period in a rather critical
position, especially east of the river,
and that with any further broadening
OF outside speculation prices might
easily work up to still higher levels
Much is expected to depend, however,
upon the weather of the next few DAYS
especially the outcome and direction of
the disturbance in the gulf, as well as
10 temperatures in the eastern states.
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was made in order to enable Spain to
make settlement with the friars and
others who owned valuable properties
which would be affected by the treaty.
Mr. Moore also called attention to the
acquisition of Porto Rico, established by
the terms of the treaty of peace He
said that from one point of view this
might be regarded as the single instance
in which the United States had obtained
territory Is result of successful war.
That, Mr.. Moore said was a misconcep-
ton. The fact was that Spain, having
lost Cuba, whose independence was Sc
cured by reason of our war with Spain.
had no desire to retain sovereignty over
Porto Rico. The administration of the
government of the island would be
source of expense and possibly of annoy
ance. There was, presumably, informal
admission by the representatives Of Spain
upon the commission that If the United
States wanted Porto Rico Spain would
willingly transfer sovereignty, although
such action must not be construed as an
indemnity or price of peace.
TERRITORY BY PURCHASE
Should President Wilson'S administra-
ton succeed in doing what some of the
preceding administrations failed in
achieving through the purchase of the
Danish West Indian islands for $25, 900 900,
then the aggregate amount the United
States will have paid for territorial in
crease not representing any activities of
war, but solely the resources of diplo-
macy would be $92, 100000, including the
payment to Spain. We paid Napoleon
$15,0oo,000 for the Louisiana territory and
the Secretary of the Treasury, Albert
Gallatin, found his resources taxed to the
utmost in order to secure the money.
We paid Mexico $15,0O0,O 900 for the Cali
fornias. so called. and New Mexico. The
people of Mexico always looked upon
these payments as an American indemnity
paid to Mexico on account of the war.
Subsequently, in order to rectify boundary
MISUNDERSTANDING, we paid Mexico S10-
100000 for the so-called Gadsden purchase,
now included In the state Of Arizona.
Gadsden had nothing to do with the final
negotiations, although he began them,
but his name became additionally asso-
ciated with the purchase.
When Seward began negotia tons with
Russia for the purchase of Russian
North America he found that she wanted
$10000,000 for the peninsula. He drove
a shrewd bargain, offering substantially
to split the difference between the amount
he offered and the sum Russia asked.
The proposition was accepted, $1,000 0C0
being the price agreed upon, with an adj
ditional 100000 with which Russia could
satisfy the claims of some of her citizens
to whom she had granted concessions in
Alaska
Every one of these purchases brought
to the United States wealth many hun
dredfold in excess of the amount paid
for the territory. California alone yielded
more than 500, 100000 of gold in two years,
this amount having been taken from her
mines within short time, after the &C.
QUESTION of the territory.
Now apparently we are about to pay
the largest price ever paid in one lump
sum to another nation. for sovereignty
over territory, and vet the entire terri
tory is less in, area than some Of the
countries of the far western states.
Freeman Acquitted
Honor Freeman charged with killing