The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-25
THE COTTON MARKET.
strong and Active Spot Msrkets LIFT Future
Prices Liverpool Up-wire Houses
Huyfng.

The predomlnating influence was still the
big spot demand. This In still the key OF the
whole situation and in homely parlance the
future markets are merely the tail to the spot
kite. Liverpool. II In true. was higher and
the weather news from Texas was not favor
able. The South bought and local operators
In not a Few instances covered. Il was the
strong and active spot markets at the South,
combined with small OF which lifted
prices and made the bulls more coniden
than ever of the soundness Of their position.
The visible supply Of the world. taking all
Kinds OF cotton into consideration. Is not
increasing so rapidly as il was a year ago.
the gain during the past week being some
$4,000 bales less, and as regards the Amer
lean visible the increase for the week Is
practically the same as for the same week
last year. whereas IL certainly ought to be
gaining much faster than then II the big
t fsep to ssI'iH HisiSi. are ssD5 5Hssrn IA A As,I Ess absS
are over half a million bales smaller than a
year ago. Spinpers' ~takings are at the rate
the same time last year. The speculation
Is not large, but the legitimate trade. il. That
cst sne OF f' Sishsr pr rh = P beIievs. s add not Sh Si sSoS
reason IL would seem, that an advance based
on the plain prosaic facts Of supply and de-
mand Is something worthy OF the considera-
"A: 2; Brown ( Go. said: 1T Is reported
creasing at the South, as mills find IL impos-
sible TO obtain the higher grades In quantities
suffcient TO meet their wants. II Ii difficult
TO see how the case can be otherwise If this
is .needed and sdp must ErO Be- used sed.on It Z is ' therefore
fair to presume. that there will be a good
demand for the lower grades II nothing else
is. to be had. since the consumption. from
all appearances. " likely to be very large.
very freely. Some are apparently holding
back their supplies and the car shortage also
tends to keep back other cotton. Thus with
comparatively limited OF erings and delayed
crop Ia coming forward in no excessive vol
ume and Is being rapidly absorbed by CON
sumers the world over. Those who believe
In better prices think that the market could
have no better foundation than the present
large and strictly legitimate demand. which
has been advancing prices without the aid
OF any speculative excitement. Prices in
the immediate future will be governed largely,
however, by the daily news in regard 20 the
weather, the receipts and the action OF the
advices."
Messrs. Norden, O'Dell, Gwathmey,
Mitchell. Carpenter and Hutton were buyers.
Messrs., Meyerkort, Rich. Bache and Baily
Miller 4 Co. said: although the week end
figures were not bullish In some respects, SEN
timent was being governed mainly by the
spot demand and the fancy prices being paid
been welt upon for weeks and its Importance
is so generally recognized that II is only
natural that we should witness a hardening
tendency in the market. Whether this will
be changed when the present congestion in the
South Is broken Is n question, but In any event
the preference now is to avoid the short side
for the above reasons and also because OF the
possibility OF bulltsh bureau figures on the
yield next month"
The statistical position as made up from the
Efn0 uTI0i ~ rnnsrIa Il m fnlInWEs