The Montgomery advertiser., 1909-12-28
COTTONMARKETS REOPEN
AFTER HOLIDAY REST BUSINESS
 WILL BE RESUMED.
Local Market Quiet--Buflfsh Sentiment Prevails and Increased Spot De-
 mnnd Expected--Letters
 From New York Houses.

There was no business transacted Monday in the local spot cotton n.er- ket. Two small lots were offered by < the factors. but no trades were recorded as the shippers refused to buy witnoa market and quotation. The receipts into the city Monday totaled to ap- proximately 100 bales. All of this came by rail, as not single bale of wagon cotton was brought to the Square.
 The New York, New orleans and Liverpool cotton markets, which have been closed since last Thursday even Ing, on account of the Christmas hol- idays. win open again Tuesday morn Ing. All the cotton markets Tn the country which have consequently prac- fically ceased business during this pe- rf0d will be ready Tuesday morning 10 continue. The increased spot de- mand which has been in evidence for the past two weeks, is expected to con- tinue for some little time to come.
 The cotton market was active last week, with firm undertone, owing to shorts covering for over the holidays and the increased buying of spots for December commitments. All cotton months advanced steadily each day and January at IS 40 and March at IS. 73 :. Local middling was quoted at fl G-8 cents although most of the sales were made around the 15 cent figure.
 
 Tn regard to the buliish situation and the outlook for the cotton market, Hopkins. Dwight and Co. of New York. write:
 less active of late. but the market has advanced without their support. The bulls ara unquestionably in very strong position, and it is generally ed- advance prices considerably higher if they see fit; at the same time. spinness are very reluctant about paying present prices for cotton, but it begins to look as though they will not be able to ob- tain additional supplies for some little time to come except at very full prices, unless they resort generally to short time. of which, as yet, there are no in although short time Is being resortsd to largely among European spinners.
 The cotton goods market Is steady, but trade IS on a moderate scale with values firmly maintained. Business is generally quiet. owing to the holiday season. Heavy cotton goods do not re- epond to the advance in cotton. Some curtailment tn production is in pro- gross and will be considerable oyer the holiday period. The yarn trade is gen. orally quiet. The stocks in hand gre sufficient to meet most of the business that is being rendered. and Southern yarn spinners are reported to be en- n1ent to become effective after the mid- de of January"
 Concerning the increased spot de- mand, ]. s. Bache and Co, of New York, in a market letter, say:
 "A better demand for spot cotton throughout the South has been in evi- dence this week and it would seem that merchants have waited until now to fill December commitments, hoping to get some cheaper cotton around Christmas. Tn this they were disappointed, and their buying forced prices up just as 1t did during September and October when they were caught short on sales made for those months. Southern spot markets have reflected the better in- Quiry for cotton. Savannah quotlng mIddling at Is cents, against 14 H. 1d last week, Memphis 153-s against 161-4; Augusta 15 3-s against 15 3-l6i I5I-16 last week and Montgomery HTS against 14 5-S last week.
 The closing of all cotton exchanges until Tuesday morning renders the usual array of weekend" figures un- obtainable. The bureau report show ing S.s76.OOO bales ginned to December IS was somewhat less than expected and was taken as ample confirmation of the low crop estimate made by the Department of Agriculture on the 10th inst. Should the ginning decrease in the same proportion as 1t has hereto fore, the final ginning figures will be under t0,00e,000 bales. Port receipts to date for the season are ..S76,J00 bales, compared with 6,013,71S last year, while exports total 3,507,1S0 against 4, 324,24O last year. The insight for last week should be around 350,000 bales, making the total for the season 7,14e,- 3S0 bales. Worlds takings of Ameri- can cotton for the season including this week should approximate 4,S3i,000 bales. compared with 4,s29,00o last sea- son."