The St. Louis Republic., 1904-12-31
COTTON MARKET FlRMER
AND MUCH LESS ACTIVE.
SHARP RALLY IN THE LlN-
ERPODL EXCHANGE.
Bears Attempt Ra d on Receipt OF
Ginners' Report, but Decline Is
Not Permanent.
REPUBLIC SPECIAL

REPUBLIC SPECIAL.
New York, Drc 3g.--The cotton market
was less active to-day and iirmer on q
subsistence Of the recent heavy selling
movement and much more conservative
feeling regarding the immediate future
course of prices.
The fact that values have practically
got down to the cost of production has
he II noted by not only the spinning TRADE
of tae world. but also the investment and
speculative public. ana, whl!c there does
uot appear To toe anything IN the cxsst!ie
situation from the supply and demand
standpoint to warrant the Inau.surt.lon
OF any bull movement, profess. O!.dl opvr-
atv!s nave udvp,eI Il more CdutUus puncy
a..u Lnc n"JV.!ty sceEi 20 TIE i4"!c ~
vl.I.ed 10 cover at least Il part OF II!cIi
sHDli rather tHaH lu,rEds-s tn.S interest.
one U; the lutcHuItfJ utE-iUp!iIc!Its ut
the cay MIS- the sn.tryi ra.Iy winch &C
Cured in the Li.crpooI market. opDt
CV.tun IH.:e. ana also lne IndFhcl ioT id-
tGiCS it one Liinc, alEaIccu ii Eng II
pu.nts over yesterGay.5 . r.vs!nG. TINS Vas
Explained n private cables 49, due To Z"
la. ,c amount OF Investment buy lng Tor
Ens.Isn INA CoHuutntdg operators.
mail net u CuvI iiIiiIi ana advanced
auUuL - points IUT All nj muI" active OPP
ertuvEs .rom last mSit ; closing on u
sehetdl covering moNeitent: Il. neais
Resisted the aGNdHcG amt prices siuinpcd
IN III" later trading.
VI hen tue gInU,TS report was Annuunccd
at noon taty attempted &tEOtncr rad. ana
prices were sold GOWN Or Jnis MuEciut.!e
60 Ii-l H4suIS : CIo.ius Quut&uohs. Inc
attempt to IUrcc tne uarn.t through tnLt
IT,. -. HDw.Ecr. iJ!!td, oH inS Ia the de-
cline Bringing out Il mucn better class ia
o.. ing ana a,l Cn6eT support. In the alter
noon the II!I.y, rtltl.u hsain aAd went
IN TO the hlsn prices established shortly
alter III" opening.
SpVl cotton noe WAS steac!er and Was
advanced 10 points from yesterdays price
to the basis .. 6.JJC lor H.GduAs.
..l.A.. ~. IORl Is tCNltLrIE.
REPUBLIC SPECIAL.
New orleans, Dec. GO.-The T!mes-Dem-
Ocrat in its summary of the cotton s!tua-
Ton Will say to-tu,rrow:
yesterday : cotton market was a hitting
iina.c 10 Il Very STRENUOUS ha.f season. Inc
bc.-r victory was complete, ana satisfied
shots III large uumU.IS gathered in their
pInutS Tor miHi : ease over the long nOIi-
day mo the new year. The glnners' report
IuSL about met N ieCunCrlveG .uedS ana en-
crtcu but momentary influence on the
pr.Ce. which in the end WAS better OD.y
Dece-4se OF the general bearIsh liquidation.
/ nc pot market found fri"nGs at the de-
cline, though vdiUes were notably higher.
with the coming of the new year the
speculative thoughts of the talent Will
SlhEstdtc TO tn" approach OF another
planning season. and the farmer vail be
S....l...pucd Well down stag. 10 the cold
li,I.ul -ht OF searching criticism.
again the bears Will have the better
OF The argument, Tor an unbrck.n chain
oi years has by many desperate disasters
proved the taliaCy Ct farmers promises.
I'm the other hand. the real friends of
the price hope for genuine and lasting
good 10 result from the acreage reduction
agitation.
"lne latter part of January a big con-
veat!oa of farmers is scheduled to be held
IN New Orleans. which. il guided by the
proper hand, may exert powerful in
fiu.nCe for good over all the cotton grow
crS.
Some important questions are to be
discussed. among them the value and ac-
curacy OF the Governments crop estimate
and crop statistics Should fanaticism of
the Shreveport brand predominatc in
these discussions. the Governments dis
gust may be completed in short order.
It's a. thank.eSS Job Uncle Sam has on
his hands. anyway. Curtailment or total
that OF strengthening the hand OF the
Speculator.
Not very many years ago, before the
Government came TO the assistance OF the
Iarmer, the cotton producer was almost
wholly at the mercy of the shreHder men
who bought his product. His difficulties
now-thc greatest of them bcIng OF his
own creatlon-are many. Through il-ai-
NlSci action at New orleans, ne NAV do
more 10 perpctuate them than he did when
he piantcn. cultivated and picked his pom
dIrousy big crop Of leCi-5. Therefore the
importance OF good counsel III large meas
ure ut the January convention, tor wif,.
.ut Il an injury may be done the entire
South