Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1921-06-01
COTTON STEADY
WITH NO BUYING
REPORTS CONFIRMING CROP
ACREAGE FIGURES FAIL
STIMULATE MARKET
" Associated Press.

lditiona reports tending 20 confirm
'eccnt bullish crop and acreage fix
rcs. failed 10 stimulate buying In the
o,ton market today. but gave prices
general steady tone during the greater
art of the session. The prioc of
July contracts fluctuated between 1880
IND 1890: closing NJ 1898 with the
General market closing easy. net
Joints lower Ia five points higher,
Liverpool showed no special feature
yer the American holidnys and the
market here opened steady M "a decline
( three points Ia an advance ~ three
POINTS. near months being relatively
asy owing 10 circulation ~ few
tune notices. These made no impress
don on the June price however, aud
while there were scattered selling on
he continuance of the British labor
rouhles. Of the favorable weather map.
arly offerings were quiet readily alb
orbed. There appeared Ia be u spec
al demand for January around 1890
while October sold w Ia 1915 and De.
cmbcr li.i6 with active months gen
rally showing net advances Of TO O
POINTS. Part NJ the buying was he
icvcd 10 be for domestic trade account.
Japanese interests were also credited
With buying and there was further
ovcring ON bullish end May crop re.
'orts. The general market. however.
vas quiet and prices cascd off during
he afternoon under realizing promot.
Il by reports Of an easier feeling In
Wall Street and belief that low con.
'itiun figure from the government on
Thursday had been pretty well Dis
'ounted by private reports. October
lold off To 1886 and December To 1905
n four To ten points net lower. but
N renewed covering. Two private crop
reports were issued one making the
onditions nj "a and indicating de-
crease OF ss.b per cent In acreage.
he other made the condition cas- with
I reduction IL i0.735.00 acres In the
urea planted. pointing to u yield Of
1873, 900 bales. These reports were
ibout In line with figures published
recently and canvass Of local exchange
members showed that a government re-
port OF around 65.3 was expected on
The average. According to private re-
ports received here today the federal
sserve bank of Dallas estimates the
,duction In acreage In Texas at 90
Ter cent.
Restrictions 81 credits and hlgi
ate of rcdiscounts charged On farm
,oans. the reasons said, had rendered 4
impossible for farmers 60 plant and cul
,ivate a normal cotton crop In 1921. an,
Indications that the cotton acrcaE,
would be the smallest planted In thu
asst % years
THE cotton growers industry ans
he entire nation" the reasons added
are suffering from unspcaknble lossc'
N price value and stagnatcd market,
n America and restricted exports, De
flation In farm values which was 20 un
'xpectedly precipitated upon the coun
try IN August 1890 found the cotto,
growers with their crops ready for har
vest and without power to protcc, them
selves from the dehaclc IL CONSTANT.
lowering prices.
The crop was produced nj the peal
u high cost and the growers fount
themselves facing bankruptcy values
From an expectancy Of ss.Soo. oeo. oo'
Tor the cotton crop In July. 1890. whcr
cultivation ceased. the growers ~ that
crop sustained n loss ~ si,5oo ooo .o"'
= part of which was profit bu, repre-
scnted net loss deducted from the act
ual cost ~ production"
Is II proposed Ia have governors III
cotton growing states appoint com
mittcc IN work out Plan ~ co.orcra
ton In establishing n cotton price.
NEW ORLEANS. May si.-l.iauiin
ton ~ the long interest was agains,
the price az cotton In n mild way today
the trading months being depressed dur
ing the greater part ~ the session.
Fluctuations were not wide. early losses
amounting a. six To seven points. after
which the market came hack and al
vanccd To "a level five points higher
than the close of last week. In the
early afternoon liquidation was heaviest
and Il forced declines below last week.
close of ten to twelve points. hut an
the close the tone again was steady and
prices showed net losses ~ only three
To four points Exceptions II un'
favorable condition figures from pri
va,e sources tomorrow morning ap
pcared In H. the reason for the late
stcadincss. July rs high as isssc. as
low as is.3sc. and closed at isi7c.