The farmer and mechanic., 1909-02-02
WEEKLY REVIEW 0F
COTTON MARKET
Behaved VeryWe!I Despite
Aggravation
SUGAR AND RICE REVIEW

SU6AR ANU HUI RtWEW
En-, is of Liquidation Have Been Ap-
= rent at Times and Some Aggres-
si,e Selling for Short Account Also
some Increase in Receipts at the
Interior Towns-Talk of Some Fall
ing OF in Spot Demand at the
South.
New York. Jan. 29.-The effects OF
liquidation have been apparent at
times and also some aggressive selling
for short account, but despite this and
some increase in the receipts at the
interior towns the market has be-
some falling off in the spot demand
haved very Well There is talk or
at the South, but February and March
commitments, both for export and
home account are believed to be very
heavy. The general belief is that
the I, action of late has been so mod
crate 20 far as net results are con
cerned as 70 throw into clear relief
once more the inherent strength or
the cotton position.
There has ben at times considerable.
selling attributed in part 70 Memphis
New Orleans and otiier Southern op-
erations. Wall Street has taken
profits. Liverpool people, too, seem
to think that straddles should be
made by selling Octobr in New York
and buying October November at Liv-
erpool, although it is true that some
of the straddlers have recently be-
come nervous. Many lave liquid ated
| by buying here and selling across the
| .1<,, ,I1&>
street houses have sold the market
aggressively at times. liverpool, too.
has plucked up courage enough to sell
when the market has oeen in a tenn
porafy yielding mood under the pres
sure Of liquidation. But the general
belief is that most Wall street houses
are buli1sh. And, as regards Liver
pool and its straddls. it is enough to
say that the difference between the
two markets have latterly shown q
! tendency to narrow. That means
that New York on the whole has taken
| the Lead to the disadvantage of strad-
die makers. There is q good deal of
general buying Of October and at from
10 to 20 points under the market
many houses have large waiting or
ders to buy.
Reports of embarrassments of
| houses at Manchester are believed to
be exaeserations Of old affairs.
Sugar and Rice Review.
There has been little Improvement
III the sugar market. the disposition of
Wholesalegrocers being still to buy
only as actually needed This NAV
be due in part to the darnper upoI,
! speculation involved IL the acceptance
! by the larger interests % only prompt
shipment. All refiners are behind in
| delivery. however, because of light
! MEETINGS. Soft sugars a-e especially
delayed, being over sold
The local refinerS We're compeIled
TO go slow il operating plants because
they misjudged the raw situation, the
delay III cuba from rains causing q
/ temporary deficiency OF arrivals th;S
month. Now that sugar is coming
| forward freely the tendency is easier
here are now 15S centrals grinding
cane in Cuba, and some circles argue
raw sugar materially lower. On the
other hand, however, il IS pointed out
that the European beets are selling 4G
points above the parity OF Cubas SO
that & much lower level would .neces-
state shipments to England which To-
cal reffners do not wish.
There is a firmer tone 10 the rice
| market in sympathy with the situation
in the South. the country distributors
buying for February shipment when
inventories will be out OF the way
Local wholesalers are less inclined to
take hold AS Southern mills have
not recently turned down local offers
for Honduras AID Japans even at list
prices, there has been considerable re-
selling at first hands New York being
comparatively the cheapest market.
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