Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-07
EXPORTS STILL
CAININC;COTTON
MARKET STRONG
By Victor Barron.
market Correspondent
Times r pcOrdpY, \

market ruled strong, but comparative
ly quiet last week.
Expectations of an early peace, to-
gether with persistent buying for Liv-
erpool account, optimis ic aGvices from
English trade sources, unfavorable
weather and heavy exports furnished
the chief incentives for the weeks.
gain.
Final prices on the New York mar
ket were So to so points higher on
old contracts for the week and ga to
SO points up on new contracts. Old
contracts at New Orleans finished the
week 25 to 55 points higher and new
contracts exhibited gain of 67 to
II points.
May contracts in New York were
under more or less pressure, the
selling being attributed chiefly to spot
firms and mills, against purchases of
the actual.
Business in old contracts was neg
lected and those having orders to ex-
ecute in those options experienced
some difficulty in closing them out
The time for final settlement of old
options expires May /.
The substantial rally in sterling ex-
change was considered bullish item,
Liverpool-24,0U 900 bales for the week.
while heavy sales of the actual at
indicated that foreigners anticipate in
creased exports from this side.
Exports totalled 147,534 bales
against 16,S4S bales the same period
last year. This brought the total out
go so far for the season up to $685.
1858 bales, as compared with 1911 ,496
bales the previous corresponding pc
riod-a gain of 3O4,362 bales.
Further evidence that mills are
feeding off their surplus stocks of cot
ton was shown by this weeks state
.ment of Hester, showing 10000 bales
were taken by spinners, against 127,
900 bales the same week last year
Spot firms reported a falling off in de-
mand from mills and in turn they are
folding aloof to considerable extent
Those favorable to the market assert
the mills are buying hand-t o-mouth in
expectation of wearing down spot hold
~ nf lNn ,I.s. ~
the actual will sell ABOUT even with
May option before it expires. Con-
servatives have issued warning to
spot holders that if they weaken at
this time they will have a hard job
sustaining values, but if they stand
pat for few weeks longer peace no
doubt will have been declared and
the worldwide demand for cotton will
have begun, which alone will be suffi-
cient to add several cents tos each
pound of cotton within brief period.
1t generally is conceded-even
among many bears-that the acreage
this year will be drastically cut AL
though the bear crowd are firm in their
belief that the reduction will not be
more than 10 or Is per cent, whereas
those bullishly inclined are confident
the reduction of 33 1-3 per cent. will
be disclosed when the governments
acreage estimate is issued early in
July, Messages from all sections of
the belt confirm SIGH views.
Unfavorable weather has further de-
layed new crop preparations, which
together with inferior fertilizer and
small use of such, will work against
anything like a normal crop from the
prospective acreage. This is not to
mention the probable effect of the boil
weevil and red spider, which are ex-
pected to thrive this spring. In the
sections where the weevil has already
invaded, the acreage is said to have
been, or will be, cut tremendously
considerably more than third
Briefly stated and to make a long
story short, the bear crowd and spin
ners are skating on thin ice and abso-
lutely without the merest shadow of
support in their continued attack on
the price of cotton.
Today one year ago spot cotton
Atlanta spot cotton-reached the
highest level since the Civil War days,
1886 cents pound while the actual
at New York sold at $3.50 and at New
Orleans "a IL cents a pound.
Compare this price with the quota
ton of today. Compare the facts sur
rounding the market year ago with
those of today The difference is so
absurd that it is sickening to one
with common intelligence to look
upon.
A year ago, with the war at its
height, submarines securing the ocean,
narin ,,,Ao