The Dawson news. (Dawson, Ga.) 1889-current, 1918-07-23
BETTER TONE IN
The COTTON MARKET
WESTERN DROUGHT AND AL
LIES STIMULATING FACTORS.
PRICE FIXING TALKED OF.

War news and the weather map
held the attention of the cotton trade
last week. Both were decidedly in
favor of the market, with the result
that values were kept steadily up
ward during the greater part of the
week. After rising more than $50
points from Mondays low levels real
izing was logically to be expected,
hence top levels were trimmed as to
rs points before the week closed.
Final quotations at New York Sat-
urday were 70 to II points higher
than the previous weeks close, while
the list at New Orleans exhibited a
net gain of 62 to 1870 points, with
July displaying the extreme gain.
On the whole the market displayed
a better tone than for some time, es-
pecially after the publication of the
weekly weather and crop reports,
which confirmed the belief of damage
to the plant in the West on account
of continued drought and high tenn
peratures, and delayed progress in
the eastern belt as a result of cool
nights. The only bearish item in the
weekly report was the claim that dry,
hot weather held the weevil pest at
bay in all states.
The launching of the Franco
American counter attacks, which la
ter proved a big offensive and suisse
quently glowing successes, was a sig
nal for an, outburst of bullish enthu-
siasm, which frightened shorts, and
they rushed to cover. Spot firms and
trade sources also were noticeable
among the buyers.
Price Fixing Bugaboo.
Just when the advance was well
under way with all news decidedly in
favor of the bulls, the old price fix
ing bugaboo, which often has saved
the bears from a severe thrashing,
sprung up afresh. This, coupled with
some timely rains in the eastern belt,
kinder pulled the bellcord on the ris-
ing market and the bears succeeded
in clipping about So bale off values
Friday
But there was no centered attack
on the market, and many said the
selling only represented realizing, /
which naturally was to be expected .
after an advance of more than So a .
bale. There always can be found
bunch Of traders that just can't stand /
the temptation Of having a profit of .
few dollars a bale stare them in
the face, and naturally they cash in,
not that conditions surrounding the
market are favorable or vice versa.
It's just get in-and-get-out" with
them.
But the fresh talk of price-fxing
caused hesitation among some of the
leading spot firms and consequently
offerings increased from quarters un-
friendly to the constructive side of
the market.
1t is said the senators from the
wheat states are demanding that
prices be fixed on raw cotton, as re-
suit of the veto on $2.40 wheat. The
same report said that cotton manu-
facturers, facing price fixing on their
products, also want the raw material
fixed and so do eastern bankers. Re
Gently the war industries board said
that the price of raw cotton would
-ot be fixed. 1t is a founded fact
that Representatives Of the Southern
farmers organizations are bitterly
opposed to the fixing of prices for
cotton.
New England bankers who finance
manufacturers of cotton want the
to fix the price of the
staple, because otherwise they fear