New-York tribune., 1895-12-28
COTTON HARKETS STEADY.
THE MOVEMENT INTO SIGHT SMALLER
THAN WAS EXPECTED-INTER1OR
STOCKS FALL BEHIND.

The cotton market closed last night practically
unchanged for the day. after having scd 10 points
lower at one time. March opened at '.s9' against
79i, Thursdays closing, sold down to 's5, then raj
lied and closed at 1885, a net gain OF one point
1t was purely a speculative market, and the day
operations chiefly confined to switching from
January to more distant months. principally March
and May The number of January notices mat
around estimated at 10000 pales. lhey
all taken care Of chiefly, 1t was saio py p's
houses, that started them out In the MORNING. '"-
der this pressure IT was that the low prices OF the
day were reached, and when 1t was removed the
market regained It's normal level. The spread be-
tween January and March wldened to 20 points at
one time In the day, and such houses as KAN
Brothers, Lehman Brothers, Hopkins, dwight
Co. and Gwathney & Co. were said to nave reapeu
handsome profits out of these switching trahsdo-
tlons at this difference. The normal dHerehce pe-
tween the months is 10 points AT the eiose yes
terday the spread down to 10 points
With no advices from Liverpool. the market re-
mains in a rut. The port receipts were heaVy, the
total for the week being 2ls,0O0 bales, against
22 900 last week and 10000 ;ast year; but the re-
ceipts at the thirty-one interior towns were ohis
about 10000 bales. against 10000 last week ana
l87 800 last year This movement was 15cU bales
less than was expected. but like the port move
nent hardly had any sgnificance owing 10 s Is h9n ro
ton coming into sight as given below was ABOUT pa
2oo bales below expectation and It ss Is not bs be
crop in ' sight.
one strengthenng factor at the close was that in
terror stocks for the first time this year have we
fal en- below 1884, being $4,000 bales AGAINST o'5v so
movement at the ports. and may count as DUH
factor Of Importance from now on duu and sales
were made yesterday at concessions The bGEer niEe
and seller cannot be said to have come eoyemant
may cause one the other to abandon MS present
attitude and spot sales and sxpSrts Ds the cotton
men that their margin moneys would hereafter ,,e
draw interest," at the rate T ss %as ceni akim per to na
cate that the banks expect tighter money in the
Secretary Hester's weekly statement Is as fol o.
lows Crop statement. Sapember ! to DecemofT 5 .,
7S last year 4OA So year before asst and 3,f'23il
for same time In 1892 overland TO mills and Canada:
before last and S $50 time in 1892 interior
stocks in excess Of sePemoer ,f1 3eI as Pa,f and
$40 339 for same time in 1892 Southern mills tang; KIN i
net sss 9aes G5 aFassi m As To- foT same as time in Ss2
brought into sight during us days 1 TO o. das 4os sTe
last and 1863 OBS Tor same time in 1892 brought int.
sight for week bales asanst s 100 300 1877 % n for
the same time year before last and 22l,n2 for the
time in 1872 brought int 59s Sh az hi Fst arast
1889 last year. 1885 year before last ana
l.lS7032 for same time in ls9. o., ,,,or.a,,oo
regarding the rapid development and vast posi-
btes of cotton manuactnrnE in the Soutn Iessor was
day and attracted general attention in tne Dry Dry
goods and cotton trade. me revelations tndt nav
been coming up from the South lately concerning
the industrial TRANSFORMATION going on in that re-
gion arc little less than wonderful. Few people
especially Northern business men, not directly IN
terested in cotton manufacturing realize the sur sur
prisng growth Of the industry in the South: the
model MIL village Of Newry, s. c.. which has
sprung M over night, almost in the wilderness. as
described in yesterdays Tribune. is only one Of IN
Vulnerable similar instances. only last week was
recorded setting in motion of the machinery of
a biz cotton mill In Alabama, branch of the eX-
tensfve Chicopee mills in Massachusetts, built
owned and operated by the Northern parent corpora
ton. Nor will single loom be idle in Northern
mill by reason of this development in the South; ;
the contrary. the mills Of the North have been
benefited and stimulated by the rivalry 10 in
creased production. The Norfolk papers announced
last week that the consumption of the cotton mills
al that point had increased 81 per cent this year
There IS at present In this city party of capita
lists making preparations to begin soon the build
ing of OF tho largest cotton mills In the world
In the South. The Increased demand for cotton
from these enterprises Is going to be a power
full factor In determining the price at which the
great American staple is be sold in the markets
OF the world.