The Montgomery advertiser., 1905-01-12

ners will force the exporters SO far that much more transferring may not he done. spot interest from January to February, but ln relieves the immediate situation. It | seems rather strange to talk of a squeeze | or actual cotton when a 13, ,000, 000-bale crop IS being reckoned with, but the semblance Of squeeze has undoubtedly been respon-
 sfole for the recent better tone of the mar | ket.
 The bad weather today interfered to great extent with the looking around of buyers In the spot market which called quiet and easy, Up to noon about 1.50O bales had been traded in and prices were | said to be 1-16 lower.
 Liverpool futures opened steady at a de- cline of sG9 points and closed 7@S points
 lower than the close of yesterday. Private cables said that the Importers and New York were selling, but that the South was offering very little or none of the actual
 stuff and then only at higher prices than prevailed. Spots were in fair demand at
 easier prices American middling declined
 points to s.T. Sales. 12,ooo bales.
 LOvEMAN & CO.'S COTTON LETTER. New Orleans, Jan. 1.-The cotton mar
 ket is in a peculiar position. for as large l as the crop is supposed to be, spinners, or rather exporters, find 1t difficult to secure their wants so tenaciously is the interior
 hoiding for higher prices. Here in New Orleans there is but 340,000 bales in presses
 and at landings compared with 346.000 cor lresponding time last year, when rniddling
 e9,ton s9s.s was, was quoted at iss against sI today ' | rnand made it's appearance in sales of 12,- | oOO bales in Liverpool today at a decline of
 points for both spots and futures. There
 is but very little high grade cotton offer Ing in. this market and in an effort to fill their engagements buyers paid premium of
 55 points on March contracts for Liverpool good middling today a basis of about 17 7s January delivery. most noteworthy fea- ture In connection with spot transactions
 aartns ing a;n the day & was the taking more kindly 1t Is said that very large business oould
 be carried on daily in high grade cotton ] could 1t be procured the movement to ac- cept the lower grades instead might result l in big demand if this feature becomes general during the balance of the month
 today at all ports 2S.1ss; last year, 24,
 since Friday. 125,492. compared with 13o.- o93. while exports during the same period
 have been 14o.2s1, against 116,s ,sf1 and on
 shipboard here there is s7,1ss bales await | ing to clear compared with 72.210 one year
 ago. If the movement continues small by refusal of the interior to send cotton to mar
 ket to be sacrificed, there may be a forced
 march on the part of shorts to cover The
 trade is commencing to appreciate the fact that most of the surplus land put In cotton
 last year is suitable for the growing of | grain. Wheat today Is selling at SLY per
 bushel for May and at 9s% for the July | position and in this the farmer will find
 the incentive to plant wheat and corn
 wherever 1t can be grown at the expense of s-cent cotton. For there is a possibility Of cereal selling very much higher later in the | year. America having been obliged to make
 importations of wheat owin gto shortness of the crop Already reports are to the effect
 that farmers are breaking ground for wheat in North Texas. where 1t can be grown to great extent, az we'll es in the territories. | Arkansas, Tennessee and in Georgia and in
 the Carolinas. There Is no doubt buk that
 the convention to be held here on the 24th
 inst, at which the growers of cotton. the lSouthern States commissioners, of agricul- lture and the bankers of the South will at- ] tend, will take up this matter and carry 1t to a final consummation.