The Montgomery advertiser., 1908-12-19
WEEKLY COTTON REVIEW.


 New York. Dec ls-Bnormous re- ceipts of cotton have at times had a de. pressing effect, yet 1t is singular ahn signifcant fact that despite the lncn- bus of a recenf crop movement unpaIat- leled in the history of cotton, cuIture' prices. actually show a small net ao- vance for the week..
 Probing for the causes for sucn "A phenomenep. 1t IS practically that tney are t6 be found first in the enormous of this, the recent very heavy eAportr; third. the cheapness of, the price, anu fourth, an overdotng Of snort siue There have been too many bears lh ~ sections of, the country. owing 70 the mammoth. receipts. But the price IS TOT, ativeIy low and this must be nunpeiea with the most important of the puahsn factors: then again, the quality IS aa- mittedly superior. ,,
 mayed by the hisb receipts weakening spot markets. the pressure Of SOuthcIh hedges and at times a pressure Uf geh- eral selling ft has ignored reporLs of slackenipg business In this country. of poor trade on the continent of Eu- rope; of diminishing Lancashire pus- mess, and hn attempt In India 70 Doy- colt British goods in retaliation TOT lns sedition laws dealing with the unFest s. existing in that part Of the bFLisn rsnlpfre. It has Ignored reports that the into sight movement. by January 1. Is likely to be .600.000 bales larger than during the previous high record season of 1s0te06. when accorcahs a, ~ the cotton exchange figures the crop was l 3, ,654,0o0 bales It has paid no at- fontion to private crop estimates Of ls.- 800, COG to 1A,000,000 bales. or t0 the ln- creasing stock here; to liberal tenders on December contracts, or talk to the efYect that the increasing New Yofk must inevitably have. sooner or lster' A depressing effect on near options, even though December of late has rank- ed at premium of from S7 to A points
 wall Street has adhered tenaciousiy to the conviction that cotton 10 cheap, that 1909 Is to be big year in Ameri- can business. in which the cotton indus rrv ix bound to share. that sDinTers ta- kings will be we'll over 13.000, coo bales: that the recent government estimate or 12 9OO,O ,O00 bales. ,however sharply at kqciced. was practically scorTecf, mat thnre is short interest on foreign Sfraddles here, of anywhere from 6oe.- o0s to 1000, ,0N0 bales. that another big shore interest exists on Southern hedges, and othar bear sentiment naantimeNreports are being received frosn the spot markets, which are be- ginning to resist any tendency toward lower prices. The current price Is down nearly to the cost ot raising cotton.
 Exhaustion of supplies is reported h some parts of the cotton country, the l WtAk 1Ouk AntCEC6ts AdS OGCA A~F 4NNs
 waedad out here. Straddlers have been buying January, March and other months here against sales across the water in securing protits on a recent
 widening of the difference of something l like S1sa bale.
 Liverpool and Manchester have with l in a day or two shown a stronger tone 1 Lancashire trade is said to ba tmprov- 1 ing. Bears arc nervous about the Cen sus Bureau's report on the ginniRg re- I port to be issued on Monday. Dec. 21 In other words, the boot is on the other | leg. Recently the markets were over | bought. Now. it looks to many as though is were oversold.
 Many of the spinning Interests in this
 country are bullish at present prices.
 and as stated at the outset. the mar
 ket shows Besisting power In the face of extraordinary receipts, which ocea. sion general remark.
 The indifference of the general pub | lie is a drawback, but one house alone bought 25.00O bales of March and May today.
 WEEKLY INTERIOR COTTON TOWNS. NAVf York Tlar fana