The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1921-05-02
SPRINGS 4 co. COTTON LETTER

SPRINGS X CO. COtlOW A6kASr
- !. -
, For several weeks cotton Auctua-
lions have been restricted by politt-
cal and labor conditions and a feel
ing of uncertainty has reduced new
business and caused the market to
hover within narrow limits.
The news received from the cotton
belt would, under ordinary circun-
stances, have probably stimulated
more public interest than has been
witnessed. Reports q few weeks ago
indicated generally unfavorable, con-
ditions, but wet and cold weather
have changed an unusually early
start to one Of almost normal date,
end reports Of ~repIanting in several
sections are now coming in. Textile
conditions have been more favorable
during the past ten days. Several
New England mills have re-opened
and some that have been running on
part time have now resumed full
time operation:
Reports from Manchester have also
been optimistic, but overshadowing
all this good news has been the I'M
settled question Of German, Repsra-
ton, the English Coal Strike; still
fraught with grave possibilities, and
the threatened strike Of American
seamen involving over . hundred
twenty-five thousand men with It's
prospects Of further c~urtailing en-
ports.
1t is interesting to note that spot
cotton in New York closed yesterday
at 1890, a price nearly 3-4 of q
cent under the 1913 average, where
as Standard Print Cloths 64xso, q
inch, 7.6 yards to the pound were
quoted at 4(1-4 cents, whereas the
average price in 1913 was 8 liz
cents. With q more normal relation
between the raw product and the
manufactured product based upon
proper labor and overhead charges
it might be presumed from the above
figures that cotton could advance
several cents a pound without any
advance in the price of. print cloths
Looking at the future Of the, mar
ket from a purely Cotton stand
point we feel that higher prices are
probable, but until such time as the
antagonism that now exists in the
hearts of men is removed or modi-
fed, we advise a conservative posi-
ton as the market for the, present
will probably be narrow and quota
tions based upon developments from
day to day.
~: GRAIN a' 1iSI ~
Wheat-The July delivery declin-
ed almost to the dollar mark during
the third week in April and at this
point met sufficient demand to cause
heavy short covering and renewed
buying for domestic and export &C
count. The severe cold and wet
weather that has swept the West
during the past week has changed
the bright prospects for new wheat
to some extent. We continue our
suggestions recently made that pur-
chases of wheat on sharp reaction
should prove profitable and that sales
should only be made at times OF
strength for moderate profits.
corn-Export demand has caused
steadiness and a moderate advance
in the corn market, but large sup
plies both in warehouse and on farms
leads us to look for ultimately lower
prices, particularly in view Of the
fact that acreage in the Southern
States which in years passed has been
under cotton cultivation is now be-
ing partly planted in corn. We con-
tinue to feel that the supply is great
er than the y worlds requirements
and look for lower levels to be re
corded. 80 =:
r Springs & Co., New York