f
HE WEATHER TODAY.
For North Carolina :
Partly Cloudy
For Raleigh :
Partly Cloudy
T
TEMPERATURE:
Temperature for tbo
past 24 Hours:
Maximum 73.
Minimum. (?..- -,
xmiiri ?: -
Vol. IX
RALEIQH. N. d.. WEDNESDAY. OCTOBER 4, 1905
No. 108
Post.
i
Wl
HUMS WILL
MP MARYLAND
Aycock- to Be invited to
; SpeaK on Suffrage
- .a
RATE REGULATION TALK
claim of the plaintiff is that the doc- I1JII A T - T A PT ; IP A II Rim
tors pronounced read and shipped from t H I I 1 B flr I I Y A II I?! II
the hospital a negro woman by the . 1 1 kkfUUlljD
name of Julia Stanfield, who afterward
came to life. .,
GOVERNMENT CROP REPORT
Believed Williams Will Take Strong
Stand for Railroad Rate Legisla
tionHe Will Also Probably Press
Tariff Revision to the Front -Re-ported
Efforts on Rate Question
By THOMAS J. PENCE W
Washington, Oct. 3. Special. John
Sharpe Williams of Mississippi, who
conies nearer being the real leader of
I'emocracy than any other one man,
k .'l several prominent southern Demo
crats haye been invited to take part in
the Maryland campaign this fall, where
V v
the people are to vote on a suffrage
aniendment,restrictlng the vote of the
Illiterate blacks. , ; )
: It is understood that Senator Gorman
ind the Democratic leaders of Mary
a nd are very anxious to have former
governor Aycock .make "some speeches
n the campaign, and that special invi
tation will be extended him to take
he-stump in favor of the proposed suf
!rage amendment. Two years ago the
i oquent Aycock made a stirring speech,
lo a large audience1 of Democrats in
Baltimore, and they were so pUased
with him that his services are to be
sought this -fall in behalf of Democra
t's cause. -1
There is much interest in what Rep
resentative John Sharpe Williams will
;ay when he takes the stump in Mary
land. He is the Democratic leader in
congress and will be .continued, and it
!s expected that his utterances will do
much to clear the atmosphere relative
to issues that are being put "to the
front in various state elections. -
It is the belief .here that Mr. Wil
liams will take a strong stand iri favor
:f railroad rate legislation, although his
pronounced views on tariff and the sec
ion of the country that he represents
nake it very sure that he' will en
leavor to press tariff revision to the
roht. There are many men in and
ut of congress who are wondering
vhat position Mr. Wlllians will take
n rate legislation, especially in respect
"the oft-repeated statement that' im
ortant increase of the powers of the
iterstate commerce commission might
esult in doing away with separate
ai s in the south for white and colored
eople. That he will favor reasonable
egislation in favor of railway rate
agulation is accepted generally. Hi3
peeches during the campaign will be
i sad with interest everywhere in the
jht of coming events.
Senator Elkins will call the commit
e on interstate commerce to meet
this city November 15 to resume
nsideration of the subject of rail
ly rates. The committee is enjoined
" make some kind of report to the
nate within ten days after the meet
ing of congress, and will probably have
to ask. extension of time.
It is reported that efforts for a com-
romise between President Roosevelt
nd the-ultra-conservative senators on
e rate, Question will be made in the
eantime. It l admitted that the sen
e committee is not at this time will
j to accept the full scope of the
esident's views on railway rate: ques
jns. The trip of the president by water
i his return from New Orleans will
j an unusual and interesting one. He
ill be out of touch with the official
id general world for three whole days,
r more so than when he was in the
lorado mountains, in Yellowstone
irk or in the great Yosemite region
California. On any of those oc
sions he could be reached in twenty
it hours in case of any matter of
treme importance. It has been de
t mined that the few newspaper men
1 other members of the party who
ompany the president will be. left
Little Rock, and that none will go
New Orleans except the president,
retary Loeb s.nd probably Dr.'Rixey.
geon general of the army, who .will
ompany the president;
ames P. Morrison is appointed post
ster at Pioneer, Mills, Cabarrus
znty.
tural delivery routes are authorized
begin operation December 1 from
rler, Yadkin county, and Ringwood,
lif ax county.
oday's arrivals include T. O. Green
1 Jas. Redmund of New Bern, J. L.
rtsell of Concord and C. B. Hatch.
'. Suit Against Colored DoctS?
urham, ;N. C, Oct. 3. Special,
erior court is dragging along with
nteresting cases, suits for small
mnts that are not Interesting to the
lie. Tomorrow is set for trial a
s that was very interesting at one
3. . It is that of Adams, adminis
ar, agalnat three colored doctor,
stk SVarrja a&4 Shep&rd. : Tb
No Decided Change in Cotton Condi
, tions Boll Weevils in Texas
Washington, Oct. 3. The weekly
crop report issued by the .weather
bureau today says:
As a whole the reports indicate no
decided change. In the condition of cot
ton, as compared with the previous
weeK, a sngnt improvement being
shown in northern Alabama and in
portions -of Texas, while in other sec
tions of the latter state, there has been
a slight deterioration. The cropr has
suffered ; from the ravages of insects
in Louisiana, Arkansas and Texas, boll
weevils being numerous in the ' last
named state. Rains' caused slight
damage in Georgia, Alabama, south
western Mississippi, and Louisiana and
seriously injured the crop in Florida.
With the exception of heavy rains in
Louisiana, southern Mississippi and
Florida and showers in portions of Ala
bama -and Georgia, the weather con
ditions have been favorable for pick
ing. In the Carolinas, Georgia, Florida
and Alabama it is estimated that from
60 to 75 per cent of the crop has bee;i
gathered, in Texas from 55 to 60 per
cent, in Mississippi, Louisiana and
Oklahoma and Indian Territories from
r f f fi not1 It A rbonoo a o r rl rYiar
nessee from 15 to 33 per cent.
Roosevelt Wants Consuls in
China to be Lenient
Chinese Wishing to Come to Amer
ica Must Get Certificate From Our
Consular Officers That Is One of
Objectionable Features
CONDITION
IS 71.2
Average of the Cotton Crop
on September 25.
Was 72.10 on August 25 and 75.8 j
on September 25, 1804 Ten Year j
Average Is 66.1 Table Showing
Condition by States
Washington, Oct. 3. The crop esti
mating board of the bureau of statis
tics of the department of agriculture
finds from the reports of the corre
spondents and agents of the bureau
that the average condition of cotton on
September 25 was 71.2, as compared
with 71.1 on August 25, 1905, 75.8 on
September 25, 7904; 65.1 on September
25, 1903; and a ten-year average of 66.1.
The following table shows the con
dition of the cotton crop by states on
fipntpmhpr 25 of each of the last three
years and that on August 25, 1905, with
the ten-year average:
. ' '- I
us us is in bo
States. .g ; jS- I
-... g-S g-S -g j
m iTi xrx Hj
Texas . ........ 69 70 69 54 61 :
Georgia . 76 77 78 . 68 70,
Alabama . ..... 70 70 76 68 . 67
Mississippi ... 68 69 77 69 67
South Carolina 74 75 81 70 69
Arkansas . .... 72 72 77 -: 69 .66!
Louisiana. .... 59 62 , 78 71 68
North Carolina 77 76 82 74 70
Indian Ter'y .. 78 80 83 71 70
Tennessee 79 81 76 71 , 71
Oklahoma . ... 80 82 85 72 71
Florida ....... 76 77 82 70 .72 j
Missouri 81 86 82 74 76;
Virginia . ...... 77 76 82 77 74'
United States 71.2 72.1 75.8 65.1 66.1
Washington, .Oct. 3. As a result of
Secretary Taft's visit to China, where
he talked with a number of influential
Chinese citizens on the problems con
fronting both governments in connec
tion with the Chinese exclusion law
and with the treaty which is to be
made, President Roosevelt has ordered
that a circular letter be sent to the
American consuls in China directing
them to be more lenient in the issu
ance of certificates to Chinese. As the
law now stands the Chinese who wish
I to come to America must obtain certi
j ficates from the consular officers of
this' government. This to the Chinese
is one of the objectionable features
and, together with the bad treatment
accorded Chinese citizens by the im
migration officials and from their point
of view the unjustness of the ex
clusion law, is partially responsible
for the boycott!
A considerable portion of the time at
the cabinet meeting today was con
sumed by Mr. Taft in a discussion of
the1-Chinese boycott.. In Shanghai, an
organization of business men gave him
a memorial on the exclusion laws
with the request that it be presented
to President Roosevelt- This Mr. Taft
has done.
: The certificate system has many dis- 1
advantages, one . of the greatest of
which Is that it is handled carelessly,
opening the way for frauds. "Many
Chinese are citizens of Germany,
i France. Holland or some other coun
try, and it is their desire that pass
ports from these countries be recog
nized by the immigration officials.
Just who it . was that started -the
boycott has not been established, ac
cording to all the information Secre
tary Taft could get on the subject. In
Hong Kong ' there was one story and
; at other places there were others. The
; Hong Kong solution of the rather mys-
, terious question is new. It is that the
' family of a prominent Chinese who
', had trouble in coming into Massa
! chusetts' caused the movement. This
' man had credentials f ronf Mr. Choate,
then the American ambassador to
Great Britain. When he tried to gain
I entrance to this country he had great
j trouble with the immigration people;
! owing to! the fact that the certificate
he held fromMr. Choate was not, in
some waf, made out according to reg-
j UiatlOnS. J.Iie Illilll WCllL uuilic aim iuo
'family, hich is pwerful, started the
i anti-American movement.
Secretary Taft said he did not think,
as has been suggested, that any for
eign mercantile interests, such as Ger
many or tEngland possesses, fermented
the movebient. He believed that such
interests would be afraid to . take the
step, in I view of the danger that it
might spread to all foreign Interests,
arousing i a general anti-foreign senti
ment that might become very harm
ful. I
and noticing the .-larger, one of the
two having a pistol at his hip, com
manded them to remain, seated until
he read the warrant. There was ob
jection on the part . of the ten who
started to get up. Mr. Lamberth drew
his pistol and leveled it at the large
man, and demanded-that he be still.
He then secured the names of the
darkies .and made: an effort to arrest
the- man. There was a terrific strug
gle to follow. vDeputy Lamberth found
it a difficult job to keep his man from
getting his pistol, and when he had
thrown him to the ground he caught
him in the throat and choked him, until
he was able td gfet his hand on the
gun which he threw aside.
In the meantime Mr. Easley had col
lared the smaller ' man and tied him
with a halter rein. . He .was. coming to
assist Deputy Lamberth when' his
man made a lunge and escaped. It was
The party who .wasfcaptured gave
his name as J. Eugene Pinnix, and ne
was brought here and f given a pre
liminary hearing yesterday morning.
He was bound over to the federal court
under a bond of $200 anh was carried
to Greensboro last nisrht. He will nrob-
ably . be given a hearing during this
term of court v which is now in sss-;
sion.
COWBOYS RUN AMUCK
Intimidating Prosecutors of
Land Grabbers
Office of Lawyer Hamilton of Mullen,
Neb., Wrecked and He Threatened
iwith Lynching! -United States
Marshal Appealed to
dent called him aside as he was leav
ing and asked him to bear to the peo
ple of Richmond his appreciation of the
invitation. Richmond, the president
said, was a place ; that he must see,
and he added half jocularly that-he
had begun to fear that he would have
to come without an invitation.
Tlje city will observe a geenral holi
day on the occasion of the president's
visit, which, will be on the 18th.
Sugar Cane Damaged
Mobile, Ala., Oct. . 3. Reports re
ceived here from Louisiana state that
the recent gulf storm did enormous
damage to the sugar cane platations
and the prospects for a large crop are
not ; encouraging. The wind was so
fierce that thousands of acres of green
cane were leveled. ' '
OPENING THE COUNTRY
Parishes May Withdraw Quar
antines October 15
Mullen, Neb., Oct. 3. The Illegal
fencing of government lands by the
great oattle kings came to a head here
today when it became necessary for
the local authorities to appeal to the
United States marshal at Omaha, as
well as to Governor Mickey, to send
troops to Mullen to protect witnesses J
who are to appear soon in tne crimi
nal cases against a number of great
cattle owners for fencing the public
ranjres.
A mob of cowboys invaded Mullen
and after wrecking the office of Law
yer O. P. Hamilton, who has charge of j
the government end of the cases, issued !
a warning to Hamilton and all wit
nesses to leave the county immediate
ly. Hundreds of shots were fired and
a dozen ropes were in the crowd of
cowboys,' the object being to lynch
Hamilton and others. Witnesses in
all parts of the county are being treat
ed hi 'the same manner.
The governor has been asked to send
state troops for protection and m the
United States marshal has been ap
pealed to to have the regulars from
Fort Robinson brought that the cow
boys may be checked. The United
States marshal telegraphed that he
would arrive with a posse.'
HYDE?S ANSWER
-
His Attorney Says Armstrong Com
mittee Is Without Power
New York, Oct 3. In a letter to the
Armstrong committee, written in re
sponse to a request that Jamea Hazen
Hyde appear before the committee as
a witness, Samuel Untermyer.j Mr.
Hyde's counsel,' announces that he has
advised his client that the committee
is withput power -. or jurisdiction4 to
make the investigation in which! it is
. engaged. Mr. Untermyer contends that
the assembly could not direct an in
vestigation to be held after its ad
journment and for the express purpose
of reporting to a future legislature not
yet selected. .
Thef letter was , sent to . Charles E.
Hughes, counsel to the investigators,
this afternoon and was made public
tonight. In It Mr. Untermyer also in
forms the committee that Mr. Hyde is
ready and willing to appear and testify
under conditions. Theso conditions are
that his testimony shall be limited to
matters which are not embraced in
pending litigation and that he may be
represented advised and re-examined
by counsel. -.
ALL TRIED
SELL AT
Government Cotton Report
Caused Excitement
TO
ONCE
DOWN $1.50 PER BALE
Prices Slashed; 30 Points in Two
Minutes Few of the Bears Had
expected a Condition Better than
69, so 71.2 Was a Great Surprisa.
Price Saves Market
NOW- FOR THE SUITS
Majority of .Yellow Fever Cases in
Smaller Towns Are of Negroes.
Roosevelt Will Probably Visit
Yellow Fever "Hospital.
CANTABRIA LOST
BANKRUPT TWO-THIRDS
Pres. Hill of Great Northern Pre-;
diets Dire Results of Rate Regulation
Portland. Ore., Oct. 3. President J.
J. Hill of the Great Northern Railroad
was the principal speaker at a banquet
tendered by the Lewis and Clark ex
position last night to Mr. Hill and
President Howard Elliott of the North
ern Pacific Railroad. President hui
62.1 u; '
Notwithstanding the average rate
paid by the people of the United States
is nnlv about 40 per cent, or that ot
Russia, we have, a great ' many people
M ho are preaching a new doctrine, and
that is the regulation of railway rates
by federal authority. i
"It has been announced In an official
manner that there has been no reduc
tion of rates in the United States for
twenty-five years; that the tariffs have
been, reduced at time3, but that , when
ever a tariff was reduced the classi
fication was given a turn of the wheel
and advanced so as at - least to off
set the reduction,; fn the tariff.
"The man whofmade the statement
Ai not tell the truth. .The reduction in
the average rate per-ton per mile in
twenty-five years on the Great North
ern Railway aggregate $667,000,000. That
has been the reduction that the people
have gotten on . one railroad.
"I am not afraid that any federal
regulation will ever get down deep
enough to touch ur where we live, be
cause, long before they do the coun
try v will be strewn with railroad
corpseJ. They would bankrupt 'two
thlrda of the mileage in the United
tstatw."
High Point Items
Hitfi Point. N. C Oct. 3 Special.
At a recent meeting of the Manufac-i
turers' Club new officers were elected,
as follows: President, Charles F. Tom
linson of Tomlinson Chair Manufactur
ing Company; secretary and treasurer,
A. E. Tate of Tate Furniture Com
pany. There is talk of another veneer fac
tory for $his place to make quartered
oak veneer and other high-grade ve
neering. This will make three facto
ries of this kind for High Point.
A cemetery commission will be ere
ated here, whose special duty it will
be to devise means of beautifying the
cemetery. The plan has worked so well
in Goldsboro Wilmington, Charlotte
and other places that the suggestion
here has received the approval of the
citizens. . .
New Orleans, Oct. 3. Dr. White re
turned today from a visit, to .the south
ern parishes,- going &s far aa the Texas
line. He announced that his mission,
which was to open- up the country to
labor for the harvest season, was suc
cessful. A strong sentiment was shown.
in favor of withdrawing all quaran
tines on October 15. Lafayette has
agreed unconditionally and Arcadia
expressed its: willingness ' to abolish
Quarantines if , other parishes agreed.
It is now considered that the disease
Is completely under control in south
em Louisiana, except in Patterson,
where in consequence of the popular
rejection of the mosquito theory and
the refusal to fumigate and screen,
the disease continues as at the start.
The public schools opened yesterday
and showed an attendance of only
four, thousand less than last year. The
decrease Is mainly in negro schools,
where the attendance fell off nearly
one-half.
A large majority of the new cases
of yellow fever occurring in the smal
ler towns of Louisiana , and Mississippi
are of the negroes. There toave been
seventy deaths of negroes from the
disease, seventeen of which occurred
in New Orleans. Formerly it was be
lieved that the negro could not have
yellow fever, and up to this year has
escaped the disease.
14 Bodies Ashore Near Luzon With
Steamships Life Preservers
Manila, Oct. 3. The american steam
ship Cantabria foundered at sea in the
typhoon which swept over soutnern
Luzon last Tuesday, and all on boara
her are believed to . have been lost.
Fourteen bodies, three of them, those
of Americans, have been wasned asnore
near Luzon.' All wore life preservers
npn Hnsr the Cantabria's name.
It is reported - that the Cantaona
foundered off Ticao Island. . No trace
of any survivors has been discovered,
and it is feared that all hands on
board, sixty-four in number, were lost.
One American passenger was the in
ventor of a hemp machine. He was
accompanied, by his partner, also an
American. They were taking ten of
the machines for practical field trials.
The reports that continueto be re
ceived indicate that the recent typhoon
did enormous damage to the crops and
warehouses and' to the villages in
which the field laborers lived. The
hemn trade in some sections, It is
stated, will be paralyzed for several
years.
Policy Holders Want That
Money Paid Back. J
' . r r
Wm. H. Russell Asks Permission to
Bring Suit Agaist MsCall and Per
kins for Restitution of $150,000
Campaign Money
DESPERATE MOONSHINERS
Roosevelt to Visit Yellow Fever Hospital
New Orleans. Oct. 3. Plans for en
tertainment of President Roosevelt in
clude a visit to the yellow fever hos
pital. Fever experts say this is the
first place in the city and the only
one where it is absolutely- impossible
for one to catch the disease, although
filled with patients. ;
It is not improbable that all coun
try quarantines will be raised Jn
Louisiana prior to the 26th, the date
of the visit of Mr. Roosevelt, in order
tliere will be no restrictions imposed
upon those who may wish to come to
New Orleans. .
PROSECUTE LEONARD
... ......
New York, Oct. 3. Permission to be
gin suit a.gainst John A. McCall. presi
dents "and "George W. Perkins1, vice
president, of the New Tork Life
Insurance Company, for the restitution
of $150,000 contributed to -Republican
campaigns, was asked of Attorney
General Mayer today by William Hep
burn Russell, acting as attorney for
three policyholders.
Under the laws of the state, the
sanction of the attorney general is re
quired in order to bring a suit of this
character.
Mr. Russell said the suit would be
based on the contention that the money
paid to the Republicans was expended
by McCa'll and Perkins without co
operate authority. .
He declared that he intended also to
sue for the restitution of $235,000 which
McCall testified had been placed in the
hands of Andrew Hamilton of Albany
GIBSON NOT CAPTURED
Officers Capture One in Rockingham
- County and One Escapes
Reldsville, N. C Oct. 3. Special.
Deputy Marshal N. P. Easley and
Deputy Sheriff J. E. Lamberth had
an exciting encounter with two, men
who were retailing liquor in the south
ern end of the county Sunday, and
but for rare presence of mind and
bravery on the part of the officers
both might now be dead or seriously
Wounded. .
The officers were notified that two
men with a pair of mules were in
the vicinity of John Milloway's house,
peddling whiskey. They secured a
hack and started in search of them.
They had left that section, and their
tracks were followed within a mile of
J. T. Price's store, in the Geneva sec
tion. '.
Investigation revealed that the team
had been driven out of th.e road about
sundown, and the men were seated J
on the ground, surrounded by a party
of darkies. Deputy Lamberth told tha
wbU men be bad warrant! for them,
1 i
Hyde's Demurrer
Albany, N. Y., Oct. 3. James Hazen
Hyde, as former vice-president and a
director of the Equitable Life Assur
ance Society, today through his attor
Arraigned in Tombs and Remanded
Till Thursday Afternoon
New York, Oct. 3. The Pinkerton
detectives and the police have satis
fied themselves that . Harry Leonard,
the boy who did the National City
Bank out of $359,080 worth of securi
ties by means of a forged check, had
no accomplices.
The city bank, it was also made
known, is determined to prosecute
Leonard to the limit, believing that it
is no case to trifle with if the bank
ing community .is to be protected in
the future. They do not seem to ap-
predate Jeonara s neroic sacrmy ui
himself in order to show the bankers
of the town that it was easy to steal
securities from their banks.
Leonard was arraigned this after
noon in the Tombs police court and
after a long argument as to his bail
he vas remanded until next Thursday
afternoon, when his examination will
go on. In all probability he will waive
examination and consent to be held
for the grand jury, although his coun
sel would not admit this today.
RECEPTION AT RICHMOND
neys, filed with Attorney General May
er, a demurrer to the attorney gener
al's complaint in the blanket action
through which the members of the old
board t of trustees of the Equitable
would be required to restore to the
Society moneys improperly expended
or delivered to their use which be
longed to the Society. It is contended
in' the demurrer that the. complaint
does not state facts sufficient to con
stitute a cause of action, and that
the several causes ot action suggested)
bv the attorney general have been im
properly, united in the complaint. The
time within which the directors must J
file an answer to the attorney gener-j
al's complaint expires October 16, and
Mr. Hyde and Thomas T. Eckert -have I
filed demurrers which Attorney Gen- j
eral Mayer has noted for argument 4
in the supreme court in November
next. Appeals pri these demurrers' will
not reach the court of appeals and de- i
cieloab secured beXoreceprJng. - i
School Children Will Salute Presi-
6 4
dent With American Flags;
State Troops , at Edna Cause of Much
Sullen Indignation
Dallas, Tex., Oct. 3. There is no
change at 7 p. m. in the situation at
Edna from what it was last midnight
when three companies of state, troops
sent there. by Governor Lanham' ar-
rived. No one seems to have any idea
where Monk Gibson is. Some few be
lieve he has been killed, some few
others believe he is in custody at
some secret place, others believe" he
has died in some of the thickets, but
the majority of the people believe he
is still at Jarge and has so far escaped
as to make his early capture doubt
ful. .
All the officers, including Sheriff
Egg, declare Gibson has not been cap
tured, and that his whereabouts are
absolutely unknown to them. There is
much sullen indignation at the pres
ence of state troops at Edna. The
people do not know who caused them
to be sent.
Leaders! of a searching party have
notified Sheriff Egg and other officials
that no further bona fide effort will be
made to capture Gibsori until the
troops are withdrawn. v
There is a rumor tonight that Gov
ernor Lanham will order the three
companies to their homes tomorrow.
Richmond, VaJ, Oct. 3. Mayor Mc
carty, who bore to , President Roose
velt the invitation from the council
of Richmond to visit this city during
his southern tour, appeared tonight be
fore the committee of three hundred
who are making arrangements for the
entertainment of the president and ad
vocated the purchase of ten thousand
American -flags to be distributed to the
school children of the city, who are to
wave a salutation to the president; with
them. '
This action on the part' of the mayor
Is considered remarkable from i the
fact that he fought with the southern
army during the war between the
states. The mayor was, however,
greatly impressed with the personality
of the president whom he believes
to be the greatest living American.
Mayor McCarty iyji that tgg prei-
Witte to Open Hague Conference
St. Petersburg, Oct. 3. Count Witte
will open the second Hague conference
as the representative of the czar. An
imperial decree, dated September 30th,
has been issued, directing that arrange
ments shall be made immediately with
regard to the holding of elections for
representatives to the national assem
bly. "
Business Man Murdered
Columbia, S. C, Oct. 3. Robert Mc
Dowell ,a business man of . Camden,
was held up and murdered in that
town early this evening. McDowell's
head was crushed as if with some blunt
instrument, and it is believed the mo
tive was robbery. There is no clue to
the murder, and the case remains a
mrtery
New York, Oct. 3. The government
crop report caused excitement in the
cotton trade and the local market be
camo demoralized as soon as the fig
ures were known. . ; ;
Prices broke wide open under what
appeared to be an avalanche of general
selling-, in which forces of the , specr-r .
lative bull accounts played the mi '
important part.; The government's r .
port was announced from the pulpl
located just on the edge of the h.
trading pit on the main floor of th
exchange by Superintendent W.
King. It has been regarded, as th
most important crop report of the sea
son, and gome, time before the repoi
wns due the nit became crowded to
the last foot of standing room wlti
representatives of all firms.
As soon as Mr. King read the figure
of the condition as 71, no one waitec
to hear anything else. Everybody tried
to sell at the same time, and the great
est confusion prevailed in the pit,
which went down 5 to 10 points at a
clip. TK. immediate effect of the re
port on the market, however, was to
slash prices 30 points or the equivalent
of $1.50 , per bale within the first two
minutes aLf ter the mere condition fig
ures had been announced. " Thousands
of bales of cotton, which hid been :
bought during the recent bull move- j
ment and aggressive manipulation by
the cliques by unfortunate specuiatois
were immediately 'thrown overboard,,
and there was a wild scramble among
the brokers to see who could execute
their selling orders the quickest.
It turned out that a large amount of r
selling orders had been placed in the j
market to .go into effect if the rfep'ort J
made the cbndition 69 or better. Very j .
few of the most sanguine bears had j-
expected a condition better than that
percentage. ' Consequently the govern- j
ment's estimate of 71.2 per cent, was a ; ,
great surprise, and it came very; near !
knocking the bottom out of the market j
and causing a bull panic. The la"gest j .
firms of spot dealers and the heaviest"
and most influential operators rallied, j
to the support of the market, other-. I
wise the decline would have gone much j
further. The buying with heavy cover-
ing of shorts by Theodore H. Price.
who has been the !only prominent bear i
the past two months, and his follow
ing, practically saved the market, as
the bulls had beenf. taught too heavily
overloaded to render -much support.
The government's report caused enor
mous selling from the south and Liv
erpool, but the market was nnauy
steadied under a continuance of active
profit-taking by recent bears and by
some of the local New Orleans bull
inter re'occupving their equilibrium.
In the early decline the October, op- i
tions sold down to 9.90, while Novem-
ber went to 10.10, December 10.15, Jan- :
uary 10.19 and March 10.30. . Later o )
there was a rally of about 10 to U I
points on the support and coveririg ot j
shorts above referred to. but still later j
the market developed renewed wea- ,
ness, with the leading bears resuming? I
aggressive operations for a further de
cline. '.
Tndav's lower nrices show - a maxi
mum decline of 125 to 150 points from
last month's high level, which is equiv
alent to between $6 and $.50 per Dale,
and are practically the lowest prices
since early last sunimer. It is the
general opinion in the trade that to
day's government crbp report raised
the crop prospect to:: a possibility ot
11,000,000 bales after making the Usual
announcement for . exaggeration ror
crop damage and deducting a moderate
amount for the abandoned area. Such
a crop as this, it is pbinted out, would
he more than ample to provide the
world's spinning, with goad supplies- j
throughout the year, is theri was fully j
3,000,000 bales carried; over oJa Septem- j
ber 1st in the world's; visible ad invis-
ihi siinnlv from last year's utiprece
dented crop of 14,000,000.
rt a thnntrht thad this ' season wifc
av - r i
make spinners more j disposed, jto hol4
off for lower prices, and tnus' iurtner
force the issue In the test of strength
and endurance with the southern plant
ers and factors who have been endeav
oring to sustain prices. .The break to
day attracts more than the usual at
tention, to the recent sensational at
tempts to induce outsiders to buy on
the prediction that there was a great
crop disaster threatening and that the
price would be li cents before Christ
mas. . V '' -'-"r- '.
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