Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-05-04
COTTON HOLDS
own DESPITE
BEARS EFFORTS
By Victor Barron.
market Correspondent of The
Times-RecorderO

WIN u AhlhS CuaHSSS. ftudi
prices on the New York exchange
Friday showed futures 5 to 35 points
below the previous weeks close, while
the list at New Orleans displayed a
Kiss of IA to II points.
Trading was Or ler.y throughout.
with business quite active and at times
price changes were swift AMI rather
wide
Despite conflicting news from Pari ),
favorable crop advices ir0 II TIA west
and talk from bearish circles that the
ac'eage reduction would nDt be any
thing like the original curtailment of
l-3 per cent, there was an under
current of strength and opinion that
an early peace will be signed and that
the reduction in the acreage would be
sufhclent to take the hide eff the
back of those friendly to the depress-
ing side of the market
After rising to new high records for
the movement early in The week, the
market developed a reacrionary ten
dency, as the result OF fresh selling
for short account, together with SELL
ing by Wall Street and the Western
grain crowd, who sold against losses
suffered in their respective markets
Rallies Toward Close.
From high of $3.50, recorded on
Tuesday, May option at New York
broke to 1856 on Wednesday, while
July fell from 2729 to 2G.10, and Oc-
tober from 1853 to 242O. From the
weeks low levels the markets rallied
sharply, as the result of continued
strong demand and diminished offer
ings.
The selling was based on the theory
that the recent favorable weather has
added much to the crop AMI that a
large yield will be made, being en-
couraged by reports from the South
west and number of points east of
the Mississippi river that the outlook
is excellent and that the acreage will
not be cut to any extent. Of course,
such dope is nothing more or less than
bearish propaganda, put out with the
end in view of lowering prices before
the peace treaty is signed and foreign
ers swamp the belt for cotton.
Despite all this a strong demand
was in evidence all week, with Liver
pool spot firms, trade houses and
the public buying with confidence
Shorts covered on all reactions, and
hesitated in putting out fresh com
mitments.
Spot News Bukish.
The chief factor sustaining values
was extremenly bullish spot news, re.
vival of goods demand, rains and gen
eral expectation that peace will be
forthcoming in the very near future.
News from Manchester and Ian
cashire was exceedingly optimistic
regarding the goods market Mills at
Lancashire resumed spinning Ameri-
can cotton May % after closing down
for a fortnight. Latest cables state
that English mills are operating to
such capacity that employees are pre-
pal ing W uNA4lhu 11A5hSA neNoNS' ~ -
reported that Liverpool, New Eng
land and Southern mills are buying the
the actual freely and paying top
prices. Little Rock, Memphis and this
city report strong demand for all sta
pie being offered.
The bulls also were encouraged by
the bullish estimate of consumption
by Neill Bros, of London, for 1919
20 of possibly 16,750,000 bales OF
American cotton without replenish-
ment of reserves, as the world is SO
bare of cotton goods.
That foreign demand for cotton is
becoming heavy is shown by the fact
that any steamer being put on running
for Liverpool is being filled up quick
Nv and dispatch is rapid. Relative
scarcity of room alone seems to stand
in the way of a larger spot business
but Liverpool is after the staple. On
and after May 5, trading at Liverpool
will be allowed in months from May
1919. to April, 1920, inclusive. This
means more activity more forward
business and should tend to eliminate
discounts.
Exports Still Higher.
Exports for the week amounted tc
114.696, as compared with 32,045 bales
the same week last year. This brought
the total so far this season up to al
most 100000, the exact figures being
3,999,O43 bales, against 3,497,S0(
bales the previous corresponding pc
Rod
The weekly weather and crop re-
port was construed as unfavorable
chiefly complaining of unseasonably
low temperatures, which interferret
with termination.
Shrewd crop observers express the
opinion that this month will prove un
favorable to cotton in that frequent
rains are expected to prevail, which
further will hold back new crop prep
aration. thus allowing grass to cover