Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-12-11
The Cotton Markets.
NEW YORK COTTON MARKET

&.
New York. Dec. lot has been
many months since fluctuations on
the New York Cotton Exchange have
reached 30 points and since specua-
ton has equaled that reached today.
From opening to closing the session
was one OF great interest. The CON
slant bobbing OF rumors within the
past two weeks 10 the effect that GER
tain parties We're in possession OF the
Government report. which was rcgu-
larry scheduled To make its appear
ance for the first time today. has led
to pecuniary evening upon the part of
the public and had greatly disturbed
the views OF the trade. The market
opened peaccably enough with prices
3 points higher to points lower, easy
as TO tone. y pause for bearings and
then n drop OF some 10 to II points
occurred under room and outside sell
ing, precipitated by surprisingly large
receipts aud gloomy English market
news Then came Il sharp reaction
which carried prices up with rush II
bureau report was out through
leak and was strongly bullish. Shorts
lost faith in their position; n number
of room traders We're sufficiently inn
pressed With the stories TO risk the
long side. The close of the first hour
saw the market decidedly steady and
shade above Saturdays closing
portant variations occurred and bust
ness became quite sluggish. Tut as
midday drew near both factions be-
came exceedingly nervous and fearful
that they had ovcrshot the mark. 4
scamper for safer grounds resulted in
feVerish trading and an erratic move
nrent in values, though 1T II o'clock
prices We're nearly even with the clos
ing of Saturday The bureau report
came over the wire promptly and esti-
mated the present crop Mt 10000, GOO
bales from an average of 2o,G3i.,3l or
about the same as estimated on the
acreage by Liverpool Cotton Exchange
members while being close To $780,
ono bales in excess OF local expectations
and some Goo 900 bales larger than
figured by NELL. Terrific selling imme-
diately set in and mid unprecedented
excitement prices fell vertically 10 to
30 points, there being individual de-
oines of . to 20 points n time be-
fore the crash was over stop loss or
ders added TO the confusion which
was unavoidable. Commission houses
found II almost impossible to sell COT
ton, there appearing TO he no buyers
for n time al any price. But the cnor-
nous profits within easy reach TEMPT
ell shorts to cover and soon q rally
WAS in progress which steadied the
market II to IL points. For the rest Of
the day the market was very irrcsu-
lar and subject to violent fluctuations
ANA spasins of buying and selling. Near
The close q fresh decline grew out OF
general selling. prompted by fear that
the Weakness here. the big receipts.
the learisn Government report and
the easier spot markets would stamp
EIDE Liverpool tomorrow and bring
about n sensational smash there At
the close the market was steady with
prices net ~ to 80 points lower
New York, Dec. lO-Cottol-Spot
closed quiet and i, lower middiing uus
9Ts: middling gulf. 10is,sales. 125 bales.
Futures opened easy; December,
970: January, 9.Gl; February, 9.5Gi
March. 9.iS; April. 942: May. $40;
june. 9.S7: July, 9.S5; August, 915: Sep
tcmbcr, S.i5
Fu.ures closed steady: December,
qS7: January. 9.27: February. go;
1iarch. 9l6 April, Oil: May. g.OS;
June. 900; July, 9.03; August, sos; Sep
tember, 500.
NEW ORLEANS COTTON MARKET.
New orleans, Dec. 1o.--Cotton fu-
lures steady: December, a.10G9i2;
January. 9O6G9O7. February, 9.05f '.O7;
March. 9.o5@906 April 9.0f69.06: May.
902@90i juno. 9.09@9.0i; July. 9.0iG
9.02.
i-iN IIItPOcIl COTTON MAlikET.
Liverpool Dec. 10 y. m.-Cotton--
Spot moderate business, prices 1-S2d
lower American middlng, 8 1924.
The sales of The day were 1000 bales.
of which 500 We're for speculation and
export. including 5000 American.
Receipts 5000 bales including 1900
American.
Futures opcned and closed quiet;
American middling: Dccemher. eS-Gid
0l5 2f-6ld seller. DAcp,,hel. and lon
VarN 2i-fiG seller. January and Feb
rMary. 5 lN-Gid seller: Eehrnarv ana