Business: Wrong Guess

A bad August means a big cut in the growing cotton crop. Worst August that anyone in Wall Street remembered was 1927 when the Government's Sept. 1 crop estimate fell a whopping 800,000 bales below its August estimate. Since the official estimates largely determine cotton prices there is big money in guessing right what the next estimate will be. Fortnight ago more than a dozen cotton brokers and experts began this guessing game. Most of them daringly went out on a limb, estimated a record drop of 500,000 to 700,000 bales below...

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