The Montgomery advertiser., 1904-12-11

small when compared with last years in ss cheap as it was . year ago. spinners takings for the week were 310, 900 bales against 4os,ooo last year and 331.ooo in fully as bearish. the supply of American cotton showing an increase for the week of 1S0.357 bales against increase last year of S5.ol! and an increase in 1902 of 55.s54. while the total visible supply of cotton showed an increase of 233,357 bales against an increase last year of 13o.014 and an in crease in 1908 of 109.s54.
 no indications that the country was ready to sell more freely, but the morning papers contained reports from Texas which were the effect that while many banks believed in the holding of cotton they were not ready to go beyond extremely conservative staple.
 . Some we'll posted men are pointing ous that Christmas is near and that the farmer wants holiday money and is likely to offer more freely during the next two weeks.
 LOvEAlAN | CO.'S cofTON LETTER.
 NEW ORLEANS. Dec. 1o.-After fluctu- for future contracts March cotton 7.oa to S.01. the market finally closed the week with values showing little recovery from the lowest level attained last Monday. The steadier tone of the market was due to | shorts covering for fear that farmers would put into execution their threat of refusing to or market tner cotton at the pFeS- | ents sievel of prices. Longs have been so badly wiped this season that the market is deprived of their support usually offer ed the producer in maintaining values On the other hand shorts have been in clover and the sinews of war in the shape of large profits and an official estimate for x crop of at least 750.000 bales in excess of the worlds requirements. Therefore. tha spot holders of the South are obliged to do battle unassisted, except that assistance which is promised them by Southern banks ta a ahanIr hat they should arrive at some conclusion whereby they may agree upon some plan to withhold the remainder of their crop from the market. There is to be held at Shreve- port, La. next Monday a convention of cotton growers, which will also be attended by Government officials. with object of de- vising some means of destroying the boil weevil. Advantage will be taken of this large gathering of planters to unite them in movement looking to the marketing the remainder of their crop slowly. and much good may come of this project if carried out.
 The small takinss of spiners the past week, 310.O0 against 405.o0 last year. was a dscouragins feature. Liverpool closing at decline of points. when she was due to be unchanged. American markets, however, stood the blow very well. Instead Of open ing 15 to 20 points down. New Orleans open ed 10 points lower than last night for March. 7.s5 compared with 7.75. afterwards doing so well as to advance to 7.7s and to close at 7.71d7.72.
 The sustairing feature of the day was the incessant covering by shorts who appreciate the low price at which the staple is sell ing when compared with this time las. year; middling 7&c. against 12Mc; s22. 50 per bale cheaper, as 1t may be the induce ment of causing spinners to buy heavily at any moment to take the chances of mar- ket going lower Spinners will not buy, how ever. if receipts continue heavy or if hold CTS press spots for sale. As we said before. the South must be sincere in this movement to hold, market will probably seek q lower level. which is the outlook for the very future But with any little de- cline to come about there is no reason for holders to lose patience; on the contrary. an exhibition of moro determination to re- fuse to sell will be the requisite.