Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-06-22
COTTON BULLS
| RULE AGAIN ON
| PEACE OUTLOOK
ATLANTA, June 21.-Another
victory for the bull crowd.

ALLAN n, June A1.-AHOIHO'
victory for the bull crowd.
While narrowness and irregularity
ruled in the cotton market early IN
the week, the market developed pro
nounced strength with fluctuations
wide during the latter part CT the
week, with values surging to new
high records for the year.
Final prices on the New York ex-
change Friday were go to 1873 points
above the closing quotations OF
week ago, while the list at New Or
Ileans exhibited a net gain for the
week of 81 to 115 points.
The market started its vigorous
Inward movement on Thursday, val
Ines soaring almost $40 a bale as the
result of aggressive buying from
practically all sources and scant Of
Iferings. This was followed Friday
by another wild buying movement,
occasioned by persistent reports that
the Hun government had fallen and
that the new chancellor and his cabl-
net would sign the peace treay imme-
diately. Under the impetus of strong
buying values scared to new highs,
with July at New York reaching 32.75
and October 3246. At these levels
the market stood more than 10 IL
cents above the low level of January
for the July position and virtually
LA IL cents net higher for October,
or 235 to 266 points, respectively
higher than the weeks low levels, re-
corded on Wednesday.
| Other Bullish Factors.
There were many other factors in
ducing heavy buying, especially con-
tinued rainy weather over the belt,
particularly west of the Mississippi
river. In addition to this the mar
ket was flooded with extremely pes
simistic crop advices. This wire
from Memphis is a typical example
of some of the messages received:
Entirely too much rain. Thous-
ands of acres of cotton must be
plowed up and planted in other crops.
| In addition to this trade houses
and spot firms, as well as Liverpool,
were frightened by decidedly bullish
spot news from all sections of the
/ belt. A strong demand was reported
in most sections with holders letting
go mighty slowly, Spinners were
good buyers Of October after it cross
ed 81 cents, and there was active buy
ing of fall options by such well known
spot firms as McFadden, Gwathmey,
Weld and others.
Sentiment in practically all quar-
tiers bore constructive color with
Heading firms issuing bullish opinions
as to the future course of the mar
ket and advising the purchase Of cot
ton around present levels, asserting
that conditions surrounding the mar
Iket point to ultimate materially
higher prices.
Demand for Goods
Continued strong demand for goods
at higher prices also added weight to
bullish sentiment. Leading mercan-
tile houses report their sales much
heavier at this time year ago, while
manufacturers are operating to ca
poCiIys ANSWo 1IOiii CIlC tCAtllC VII
ters at Manchester continued of a
most cheerful character.
| However, many students of the
trade were disposed to await the def
mite signing of the peace treaty and
further developments, but even those
inclined to hold aloof were optimistic
in their expressions as to the future
Icourse of the market.
There also was a disposition to
operate cautiously until after the
governments July report, which will
give the condition of the crop as of
Bune rs, as well as an estimate to
the size of the acreage.
While conditions so far this period
have been decidedly unfavorable in
the western half of the belt and more
bullish than otherwise in the eastern
and central sections the feeling pre-
walls that the condition report will
be sensationally low, especially as
compared to June 25, 1918, when the
condition was S5.8, or an improve
ment of SO points over May 25, 1918.
The condition report will compare