Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-27
COTTON HOLDING
STRONG in FACE.
OF PEACE CRISIS
BY Victor Barron.
market Correspondent of The
Times-Recorder.)
Market

by FlCUOE DdTEOHs
market Correspondent of The
Times Recorder.)
ATLANTA, April 26.-The cotton
market developed considerable
strength late in the week, entirely
ignoring the Italian crisis and other
unfavorable rumors coming from
Paris.
All options made new high records
for the movement during the week,
with shorts displaying nervousness
and covering freely on scale up.
Final prices on the New York ex-
change Friday showed old contracts
1856 to 100 points higher than the
previous weeks close, while new con-
tracts exhibited net gain of 81 to
sc points. Old contracts at New Or
leans closed the week IA to 102 points
higher and new options showed a gain
of SO to so points.
The market was nervous and irreg-
ular early in the week, with price
changes more or less narrow. AS the
week progressed the trade became
more confident that everything at the
peace conference would end with ut
most satisfaction. This started active
demand AS prices started upward
selling subsidized and spot firms, trade
houes, Wall Street,, the West, the
South and Liverpool became active
buyers.
Many Bullish Features.
Continued activity Of the goods mar
ket at higher prices, with manufac-
turers anticipating record trade, to-
gether with increased demand for the
actual throughout the belt, prospects
for low temperatures over the belt
and strength of the security market,
contributed largely to the rising ten
dency of the market.
At the top levels May (ney, New
York; stood at 2S.40, July 26.71, Oc>
tober 2518, December 24.73, January
24.44.
At the foregoing levels the market
stood 394 to SIS points higher than
the low levels established on the re-
cent downward movement-March 81.
October displayed the greatest gain,
rejecting the bullish position of the
new crop deliveries and indicating
that mills are aware of the fact that
the crop will be short and that their
chance of securing cheap cotton rap
idly is passing. From the seasons
low level active options at New
York exhibited a net gain of 716 to
$40 points-$35.SO to $42 bale. The
low levels were recorded on January
"a, last, when May dropped to 70
cents, July 1915 and October 1902 On
the same day Octoer at New Orleans
fell to IVA, but at the top Thursday
that position stood at 24O3.
Big Sale at Liverpool
The continued lareg sales of spot
cotton at Liverpool is construed as
decidedly bullish in that it indicates
that British spinners are confident of
early peace and that they must re-
plenish depleted stocks. The lifting of
The embargo on exports to neutrals
on April rs, it is said, will result in
increased demand for cotton from
those countries, in anticipation of
re-selling it to Germany and her al
lies after all restrictions are remov-
ed. The American spinners also are
EEfbfr,IysS md hnUinO
freely than at any time in the last
. few months. Domestic mills are said
to be operating to full capacity, as
they now are confident that the coun-
try has definitely decided that there
will be no ''hard times" in the Unit
ed States, but that we soon are to
embark on a wave of great prosperity.
Big wholesale goods houses report
steadily increased demand for all
kinds of goods and are buying heavily
from manufacturers to fill their re-
quirements.
It's just like the writer has stated
in this column many times, that Jd
the moment they saw foreigners step
ping 1nLO lne IHdL hSI oA :" pioAo SSe"A~'
they would jump in and buy From all
indications that buying movement is
now in order. 1t certainly doesn't
have the appearance of false step.
Exporters state that they are enjoy
ing good business and that even
greater trade will be had just as soon
as they can secure more freight
room.
Holders Stand Firm.
Spot holders in the belt are show
ing increased firmness now that they
know mills are after their cotton.
Very little is being said with regard
to the acreage at present, but the
man behind the pillow is converting his
thoughts and driving his mule in the