The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-11-10
rHE COrTON MARKET.
RFiees Rally Aster an Early DeCllne-LiveF'
peel weaker Than Expocsed-Bum
supDort-ShOrta Cover.

EfuNJg NANhh9 fAhHNA ~
noel weaker Than Expocsed-BuIl
supDOrt-ShOrta Cover.
Nothing striking occurred. Some Of the
Wall street bears appear 10 have hammered
prices in Liverpool. and nc first there was a
decline here in RESPONSE to lower quotations
across the, water. Later on. however. came
a rally. and closing prices we're practically
unchanged. They were pretty firm, how
ever. on some wall street covering. Bulls
Thought the bank statement was only super
fciaIly had through the system OF averages.
The December premium over January con-
tinued despite a verbal CannOnade from bears.
AZ one lime IL was 40 points and IL wound up
at 40. The weekly statistics were more
buIliah than ever. on the surface nc least.
Scarcity OF cash Ii keeping back the cotton
that and the DISCRIMINATION q a good many
the Arbiter Of the whole affair. Easier money
rRtes. Il il assumed. will mean bigger receipts
and lower prices. Meantime some 10000 900
worth OF cotton is held here by the December
clique and bears are trying to dislodge ~.
Bears. however, are no more PATRIOTS man
business men who. IN the p0pular phrase. are
looking out for number one. The business
world In general would, of course. be glad
other eXpOrtable commodities to the END thaC
h~nances may be eased and confidence e.
stored. The cotton situation Just at the
moment il 80 mixed that most people are
cautious. la the speculation ~ IL, a nghC
neIWeen LDN DertmUeT-sIMuuHI NNOh pu NhN
one hand and Wall Street and uptown shorts
on the other 80 far as New work ts concerned,
Scarcity Of currency .suses a kind OF sSpcSs
everywhere for the carrying on OF legitimate
trade. Speculation, aside from the local. con
test here. is almost dead Everybody Is
Xtwood Violet h co. said: 1T looks very
much az II the planter will have to hold the
bag for the time being and parcel out his cot
ton only as the mills must have H.. There IL
very little Involvement for the speculator to
Of n. Ss there are many ways that ready cash
can be used to better advantage and with
Messrs. Weld. Dick, Moyse, Aver and Bart
lett were buyers. Messrs.| NOrden. Hutton.
Springs. Lehman and Miller 4 Co. were sellers;
be considered a fortunate circumstance that
the worlds yield Of cotton this year is below
the average everywhere. Compared with
tom The Tinted States yin be fully i.OO0.oCO
bales and from India lowing tn the drought,
Sthsr LooS 600 bales This decrease Of g.
O0O. OOO bales will effectualiy reduce the record
breaking surplus carried over az the end Of
~spinners' hands. We're IL possible that con-
sumption-as many authorities predlctcd
only a few short months equal @d
invisible stocks would perfOrce be reduced
TO the lowest level since the famine period
available surplus at the end Of the present
season would be equivalent TO less than one
E%EHth 4 w wO TN, :, s%p DTaS .E SSt It ~ would %ISd, pc
a full consumption during the current sea-
sOn-On the contrary. We say with sadness
that IN the United States alone cOnsump-
ton will unQuestiOnably fall on 5O0.0 300 bales
from last years record figures. and IL Is hardly
90 be dOubted that the crisis In finance and in
dustry generally will operate to materially
reduce the demands upon European sptndles.
The statistical position is as follows:
All Kinds OF Cotton Visible supply to-day,
1871 ass bales, or 243.2 less than at the cor
responding time last year; visible supply
during the week gains 235, 1877 bales. against
a gain Of 334. 923 during the corresponding
week last year.
American Cotton-BrOught into sight for
the week. 467, 345 bales, or tOd.O less than
the corresponding week last year: brought
into sight to date. 3.2ll, $50 bales. or 703. 402
less than A. the corresponding time last year
visible supply to-day. 2,60S, Oe2 bales. or ESQ.,
I22 less than az the corresponding time last
year.
Cotton on the spot was steady. Middling.
10. SOC. against lO.1Oc. last year. The South
ern spot markets were generally steady.
Middling-New Orleans. i0Hc.i Sayannah.
10 5-I6c. Augusta. lO1Sc.. and Galveston,
lOTsC. The movement was as follows: