Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-01-05
WEEKS BREAK BREAK
In COTTON LAID
TO SPECTATOR
By Victor Barron.

on a continuation of holiday selling
and sudden attack on the market by
the Waldorf crowd, ring of profess
SIGNALS, and liquidation of long lines
by tired-out longs.
On the whole, however, it was not
an active week, but prices fuctuated
rapidly and wide at intervals. Demand
was confined to spot firms, trade
houses, Liverpool and re-purchasing
by recently liquidated longs. This
demand took care of the supply, but
it was not sufficiently strong to sus-
tain values.
Final prices on the New York Ex-
change Friday were 100 to 165 points
net lower than last Saturdays close,
while prices at New Orleans stood 146
to 235 points under last weeks finish.
Distant options exhibited the great
est decline, having been sold heavily
by the speculative element in expec-
tation that such tactics eventually
will weaken the spot holder and that
big decline will take place.
The weeks high levels were record
ed early Monday, but great pre-holi-
day selling wave swept the market,
final prices in New York on that day
being Is to 100 points net down.
The lows were established during
another heavy selling movement, with
January option in New York falling to
28,65, Mar 27.25, May 1923, July 1888
and Oct. $500 The high Monday, jan
uary stood at 3O.45, March $500, May
2S.08. July 2747 and October 24.96.
There was nothing in the political
situation to encourage selling, Lon
don and Paris papers expressing ut
most satisfaction over the result of the
conference between the French Pre-
mier and Colonel House. The differ
ence i'll views is said to have been
overcome and easy to smooth out The
great welcome being given the Presi-
dent and his party at every place
abroad also reflect the highly favora-
BILE political situation and the belief
is general in trade circles that the
peace gathering will take place much
sooner than the majority anticipate.
1t is believed the peace treaty will be
vipnpJ norII tbio oy,d v.aoo{ x,-;41.
the high approval of all America and
allied peoples.
An analysis Of all the weeks devel-
opments fails toedivulge single item
that warranted the raid on the mar
ket, and it can be laid directly to the
door of the speculative element who
every year at this particular time try
to start something with the end in
view of making easy money off the
South's chief commodity, but this year
they are going to get the biggest sur
prise of their sweet lives, because the
Southern farmer and merchant will
not be trapped in turning loose his
cotton through the mere activity of
this clique Not so long as the banker
is willing to finance his at an easy
rate of interest. But more, the South
ern farmer needs but little outside
aid in holding his staple. Practically
without exception, the farmers of
section are more independent than
ever before. The time has passed
the Northern and Eastern brothers as
to when to sell their cotton. THE
SOUTH HAS COME INTO IT'S OWN
and the dictation of foreign money has
persisted from this dear old Dixie
Bullish developments were ignored,
the old bull crowd apparently being
inclined to allow the market to drop
as far as it liked that they might
load" up at much more more at
tractive prices. However, McFadden.
Castles and many of the old original
bull party were noted among the
leading buyers all week, predicting
much higher prices.
The decline further improved the
technical condition of the market,
making it mighty ripe to respond sen
sationally to the already bullish facts
when shorts attempt to cover
Export news was decidedly bullish,
the weeks outgo being greatly in ex-
cess of a year ago, totaling about
5000 bales. However, spinners' TAX
ings were less than the same month
last year, due probably to the con-
tinued Indifferent attitude of consum-
ing interests, who are holding off in
the hope of farmers weakening, and
the belief that they can secure a