COTTON SLUMP
ANOTHER HEAVY DROP. RESULT OF GOVERNMENT FORECAST. New York, October 25. Cotton broke approximately a dollar and a-half a bale, the lowest level since 1921, on Monday, the market being confused by the Government forecast of the largest crop on record, 17,450,000 bales.—A. & N.Z. LARGEST CROP IN HISTORY. SOUTH APPEALS FOR AID. Washington, October 25. The Department of Agriculture’s forecast of the largest cotton crop in history (17,450,000 bales) is causing additional consternation in cotton circles. The report is expected to be followed by renewed a|> peals for speedy southern aid. It also adds tremendous difficulties to the task of rehabilitating southern finances. Despite the Government’s estimate the New York market apparently discounted the report in advance, but acted curiously. It maintained an even level at re-opening, then dropped from 25 to 32 points, then rallied 12 to 16 pointe from early low levels. The New Orleans cotton market broke 20 pointe on receipt of the forecast.—A. and N.Z.
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Bibliographic details
Southland Times, Issue 20011, 27 October 1926, Page 5
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161COTTON SLUMP Southland Times, Issue 20011, 27 October 1926, Page 5
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