New-York tribune., 1907-11-10
COTTON BROKERS WARY
Fear December Corner, but Erpect
No Imports from LiUerpOol.

Members Of leading cotton brokerage houses were
greatly interested In the story in yesterdays Trb
Of a rumored attempt 10 corner the December
option, and the assertion OF big speculator that
cotton exports had almost stopped and that about
100000 worth of the staple to be brought back
from Liverpool 10 meet the exlgencies of the aru
fetal demand caused by certain large manipulators
While none Of the brokers would allow themselves
be quoted. the majority Of those said they
believed that corner in December cotton
being engineered by some big cotton merchants.
AS Illustration of this they pointed to the fact
that December contracts at a premium Of
80 to 40 points the January option while under
normal conditions, they said. the reverse should
be the They also said that If these mer
chants really wanted to export cotton and did
not intend to corner the December option all they
had TO do to buy for November delivery, which
option could be obtained about 80 points cheaper.
The report that cotton was to be shipped here
from Europe. they declared should not be taken
seriously. such operation would entail too
much loss the shipper.
Theodore II. Price after reading the statement
of Stephen VI. Weld & Co. in yesterdays Tribune.
describing their position with regard to the De-
cember option. said: Il am much gratihed to read
the apologize OF the bulls, and still more graft
fed that they have at last favored the public with
explanation. excuse and defence of their 'philan
thropic operations. suggested some days ago
that they were possibly inspired by benefcent de-
sire TO pay the holders of cotton more than 1t IL
worth. There seems now to be no doubt that such
Is the
"Of course" ne continued, sarcastcally there
is no intention TO effect a corner of the December
option. although cotton for November delivery
be bought 80 points cheaper than cotton for
December delivery. 1t is pity the 'philanthropc'
bulls do not relieve the situation by ex-
porting November. OF course, there is inten-
ton TO corner December cotton although Decem-
Der contracts some 40 points above January.
whereas, normally, making due allowance for the
cost Of certcaton they should be 10 points lower.
and, of course the desire TO facilitate the exports
Of cotton from America, and thereby relieve the
financial strngency here, is the real inspiration
Of the 'philanthropic' December corner"
Becoming serious more. Mr.. Price pointed
out that as d matter OF fact the October exports
Of cotton from this country this year were nearly
100000 bales less than for the same month last
year, and the smallest Of any year since a record
has been kept. AS showing how little cotton was
being shipped lie produced figures prove that
the local certiicated stock had only been reduced
by 1886 bales since October O. when the premium
on December developed.
On the local Gotten market yesterday the dlf-
ferent options opened unchanged to ten points
lower than the preceding nights close Toward
the close however, there was a sharp rally on
local short covering. and at the end prices were
at the high point Of the session. January being
l0@ March l0l4, May 1919. November l0l5 and
December 1915