The St. Louis Republic., 1904-11-24
LATEST GINNERs' REPORT
CONSIDERABLY LESS BEARISH
MARKET REALIZES WORTH
LESSNESS OF BULLETINS.
Despite Fluctuations in Days
Quotations, the Undertone
Continues to Be Firm.
REPUBLIC SPECIAL

REPUBLIC SPECIAL
New York. Nov c3a-The cotton trade OBJ
tained much better understanding as to
the senSelessnes5 of yesterdays ginners'
report for comparative purposes in COM
piling the crop from study Of its figures
over night, and what they actually met.
That report covered only 1uo counties In
the State of Georgia To-day the report
port covering 4I5 counties, showing $685.
l75 commercial bales glnned up to NoYem-
ber IA, against 4,o65, l;55 last year.
The market opened irregular. and ad-
vanced ABOUT TO points, because the
Liverpool markets declined about points
less Inan had been expected. There vas
moro hQudation, however, and aiso coH-
siderable further Southern and local SELL
ing, and the bear element was active in
onering prices down. the market reacted
uiiuer ms pressure and decined about 10
points from last nights crvse, with De-
cemoer selling down to 9-24c. January 9.o2c,
March Sac and May Sole. these priceS
are the lowest reached since last july.
Inc riArkee became very hea1iy over
solu on tn-s break, as wei as completely
sod out, and II rallied very Snarpiy after
lne puplicatIon or the latest gInners' re-
port. which Mas generally constructed as
uecIdediy less bearisn than yesterday >
statement. There was an active, demand
ana shorts In their anxiety to cover bid
,ne market up on themselves, rap diy. with
prices advancing Is points from the lowest
..1u about over .ast night $ closing be-
tore this movement SubSided.
The market was quieter and llttl.
easier in the late trading on some fresh
,ucai sealing Pressure, wa ch was naaLh!,
evening up of speculative accounts ovci
me holiday tomorrow. with a.so some
further Southern selling and bear pres
shorts. which vas the feature OF the trad.
Ing after the publication OF to-day's sup
piementary Ginners. report for yesterdays s
statement, surs,ded. and the specu.at We
iemanu or bull support In the late trad
ing was not strong enough to absorb the
oneringS above referred to and sustain
the early rally.
The undertoae. however. continued fair
ly good, as a mitch better understanding
now prevails as TO the meaning of the
slnners reports, and how utterly value
of the crop. and also as regards the ex-
isting speculative situation.
UNREST AT NEW ORLEANS.
REPUBLIC SPECIAL.
New Orleans, Nov. 3-Thc Times-Dem-
ocrat. in its summary OF the cotton situ-
alton. will say tomorrow:
Yesterdays cotton market was broad
enough to prove the presence OF unrest,
but not wild enough to indicate that the
trade is in danger of again racing off at
a tangent. except under the spell OF some
more potent influence than the talent now
has In hand. The theory-the theory. Great
ed by the bears for the .edification OF dis
satisfied bulls-tfio first census bulletin of
Tuesday. was intensely bearisfl. We're
the Same theory applied to yesterdays
bulletin. eliminating all the companies in
cluded in bulletin No. ]. the deduction
would show. by comparison, a loss in VOL
ume of bearisii thunder of nearly 20 per
cent. 1t was the 165 Georgia countIes
that pulled the second bulletin up to a
4S-rer-cent Increase.
by this showing aioEe Is proved the
utter worthlesSness for comparative pur-
poses of the Incomplete s.n-house reports.
They do prove that so many hundreds Of
thousands of bales. have been grown and
ginned, but logic must rebel when it