The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-12-23
CONDITIONS HELP MAKE
COTTON MARKET QUIET.
AGGRESSIVE BEAR ACTIN.
ITI SUSPENDED.
Outside Selling Pressure Sub
sides. Markets Are Steady nj
Liverpool. and Ginners' Re
port Is Awaited.

REPUBLIC SPECIAL
New York. Dec. .2-Therc was n q.leter
market in cotton to-day. owing TO The par
tial suspension of aggressive bear activity
and 10 q subsistence ~ outside selling
pressure ana stcadter markets at Liver
pool. and tho generality Of operators be
ing moro disposed 10 await IN. publication
Of next Wednesdays riuu.rs' report on
III" amount OF cotton rinHed up 70 Decem-
her 10. before increasing their obligations
either way 10 any eAt"::. IN addition 70
this. business MAS formally suspended for
-,arr at noon 10 permit lh- embers uf
- exchange 70 indulge IN their annual
C.riztmas ;rolic.
As far Is the business Of tae Lay was
concerned. the volume was much smaller
IMAM Tor some time. Nearly all the &C
ilyitv was crowded into the first two hours
~ IN. session. during which time prices
i'Gctudte! with considerable irreguiaritv.
mere WAS 4 weda oT-uiug and decline ni
q L" " points from last nights closing quo
iatlcns. On Si-Ggg efforts Of the hears 70
smash the market 10 81 new low record of
pilces. This movement. however. WIS
frustrated by too many buyinC orders in
Tho hands OF brokers on Tho s.aIe-lawn
-. Investment ard for local and Wall
street account.
After Jan. had sold DOWN 10 T.2lc. March
1.SSc- May ..@Jr and July 7.f3c. ,here was
- --AA n aAAH va " 49, a tN'-HsAT vi 1dl1l'A
active covering by tn" generality of trad
crs. in which Jan. sold at 7.@3c. March
'.air MAY zoe mo July '.f2r. The de-
indnd. however. Was soon supplied by
southern and local selling. and the max
k"t later reacted. with prices SlUmping TO
about the early low level. before the
Christmas frolir above referred 10 began.
In tn" later trading the market was quiet
ana barely steady and devoid OF any par
t!culaTiy new features.
The market was quiet ard easier during
IL" late afternoon or fresh selling by local
traders and the bear clement, but prices
We're held within 2 . 10 10 point range OF
lpst nights closing. The market closed
steady. Spot cotton here was steady and
unchanged.
UNDERToNE IMPROVED.
EEPUBLIc SPECIAL.
New Orleans. Dec. 22.-In lis summary
Of the cotton situation. the Times-Demo-
crat Will say tomorrow:
Yesterdays cotton market was tust
Nout broad enough 10 show a somewhat
improved undertone, without putting the
issts squa1ely up to the bulls. The do
nothing spirit OF holiday times covers the
talent as a. blanket covers a bed, keeping
out all breeZes. both the good and the
bad. Meanwhile the dope has been
turned into Christmas greetings and the
tone, of course. IS cheerful. For a moment,
profit-taking and soma little new business
is enough 10 hold the rampant bears in
check. few traders being game enough TO
take the long ficr over three full holi-
days. Then. too. the weekend figures
to-day are expected for the first time to
reflect the holding attitude of the country.
The figures will doubtless prove good am
.nunition FOR tho bulls. should next Tues
day be not too late TO use IL with effect.
The delayed girners' report IS now the
really painful proposition before the talent
and omment generally is severe. One
prominent professional said: IT is lust
possible that Director North's fret totals
do not verify Mr.. Hyde's estimate, and.
fearing an error. he Is rechecking the re-
turns This IS but one OF the many big
theories held by the talent TO account
FOR the buresn's unIsilRl DELAY"