The Birmingham age-herald., 1909-01-23
COTTON TRADING
 IS BROADENING Prices Continue to Advance and Interest Is Awakened SENTIMENT IS UNSETTLED Bears Believe In Big Crop and Lower Prices Very Soon, While Bulls Say
 That All the Present Crop
 Will Be Needed.

cotton Is broadening and prices nave ad- vanced. Large spot interests have been heavy buyers of March and May and spinners have bought a good deal of July and October. There has been so much covering of October that the diff ferences have narrowed. Europe has evi- dently become alarmed over the outlook. It is heavily short here, particularly against October straddles, which were originally made by selling in New York and buying in Liverpool Now Europe begins to suspect that the crop may not be so large as it at one time expected it to be. It has, therefore, been liquidat- ing the October straddles on an increas- ing scale as prices have advanced. Of course this means buying in New York. Also there has been a good deal of gen eral covering, both in this crop and the next by people who have become nerv- ous over the National Ginners' associa- ton report stating that the ginning from January to January 16 was only 15S,O00 bales, as against the census bureau figures of 3SS, ,046 bales for the same time last year. 495, ,16S in 1906-1907 and 264.2OS in 1905.
 Meantime Wall street and Chicago have been buying and so has New Orleans. Wall street takes profits from time to time. but buys on setbasks. Greater pub lie interest is manifested in the specula- tion. The west and south, and even the Pacific slope, are trading more freely, Not that the speculation has anything like the sweep that it had in sullys day, but it is growing. Bears think that the crop is 14O0O,000 bales, that the consump- ton will be only about 12,500,000 and that lifting prices now insure all the greater decline later on Bulls maintain that the crop is not much, if any, over 100000 bales, and that 1t will all be wanted. They think that a crop of a half to one million bales larger would be very easily absorbed.
 While spring and summer options made new high records in today's market senti- ment seemed to be somewhat unsettled and fluctuations were irregular, with the close steady, net unchanged to 3 points lower. Sales were estimated at 35O,O00 bales.
 The market opened steady at unchanged prices to decline of 5 points generally to to points lower In response to lower cables than expected, realizing for over the census report and selling for re- ation Leading spot interests were buyers at the decline, the large spot business re- ported in the leading southern markets at advances yesterday had favorable effect on sentiment and there was bunch of overnight buying orders around the ring This support proved more than sufficient to absorb offerings and the mar ket quickly developed an upward ten dency, which continued with only slight recessions until the active months had sold at a net advance of to 10 points,
 Realizing for over the census report, which is due at the opening tomorrow, was rather heavier in the last hour and prices eased off, although the market re- ceived renewed support from the. spot in terets as 1t approached the closing figures of last night Local estimates as to the probable showing of the census figures tomorrow range from about 1So,oo0 to 25o'- GOO bales ginned for the period between January l and January 16
 Southern spot markets officially reported were unchanged to 1sc higher
 Receipts at the ports today 40,53f bales, against 3s.795 last week and 5I.624 last wear For the week 4O,000 bales, against 942 100 last week and 62,701 last year.
 Today,s receipts at New Orleans 9S5o bales against 90S2 last year, and at Hous- ton 42S2, against 69S1 last year.
 New York. January 22.-The follow ing statistics on the movement of cot ton for the week ending Friday, Jan nary 22, were compiled by the New York cotton exchange:
 WEEKLY MOVEMENT.