Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1918-12-08


March 1850 1880 $4,000
Nav ...!25.50 1920 **35.9o
July .!24.S6 1926 **35.48
FRIDAY; *Monday; **September 3.
At the bottom the market exhibited a
tremendous loss of 1850 to 1,2'O
points, the equivalent to $54 to $3.50
a. bale from the record prices Of Sep
TENDER 8. A slump, which, close stu
dents of the market argue was wholly
unwarranted and at the expense OF
the South in an attempt on the part of
mills, professional spectators ana
foreigners to hammer prices down
to disastrous levels in order to load
up with cheap" cotton, using the
absurd propaganda that peace VIII
knock cotton down to pre-war days
and that Government cancellation q;
war orders would overflow the mar
KIT with the finished staple and re-
heve a big bulk of the raw material to
make up the shortage.
But the tide has come just as the
writer repeatedly as predicted il
would, throuhg the launching of a
holding movement throughout the COT
ton belt, together with the worlds
greatest demand for cotton. The hold
ing move is general and the exporta-
ton outlook never brighter restric-
lions having been removed from ship
ping; Railroad Administration resum-
ing the issue of export bills of lading
for cotton under conditions that such
bills will not be issued unless q def
nate contract for ocean carriage has
been made with specific sailing date.
The reduction in freight rates Of 81
to $3.50 to Liverpool beginning Febru-
airy together with increased allot-
ment of British tonnage for January
to cover 100000 bales and the an
nouncement of an agreement between
the United States and the Allies with
the Netherlands Government the eX-
ports of the equivalent of 10000 bales
of cotton and cotton goods has been
authorized, added considerable i'm
petus to the buying side and largely
responsible for the big rebound.
Selling orders petered out as the
week advanced, except natural real
izing by scalping longs. Trade houses,
spot firms, foreigners and shorts were
eager takers of the scant supply,
New York advised that Wall Street
is in an investment mood regarding
cotton. Some spinners were also ac-
credited with buying quite freely.
Reports were issued stating that
Belgian and French buyers were in
the domestic markets for cotton goods
and rumors were circulated that some
of the surplus supply of army goods
might be sold to European govern
ments.
The market also was compelled to |
digest some low crop estimates, which |
encouraged the belief that the Gov
ernments crop estimate next week |
will confirm small crop ideas.
A bullish private ginnings report, |
showing only 100000 bales ginned to
December /, or 100000 bales less than
to the same date last year also favor
ed the market and brought out much
demand.
The Governments ginning report, to
be issued Monday, is expected to be
bullish. Should the figures be close to
the aforementioned, no other con-
struction save 'bulush" could be plac-
ed on it. Ginnings to November IA
were 1851, O05 bales and 9,704617 to
December l, 1917. The last two re-
ports of the Government were far be-
low general expectations, but the bear /
crowd argued that the influenza cpl
demic, labor scarcity, fuel and rail-
road situation, had handicapped pick
ing and ginnings. Nevertheless, the
ginnings fail to improve and it is a
fact that the crop was decidedly early
this season. The answer is Just this:
"a small crop, which can not be
by bearish exploitation"
Next wednesday the Government
will issue its annual crop estimate in