The Montgomery advertiser., 1909-12-22
and trade improving with Manchester
and Continent"

and trade improving with Manchester
and Continent"
Two opinions from New York houses
Hayden. Stone and Co.-"strong
trade and concentrated bull interests
continue to absorb with ease the short
selling"
Miller and Cove believe the small
crop talk is being fully appreciated by
the trade. in general. will not prove
any Incentive to any further advance
and until the spots now offered freely
for sale In the South around the pres
ent level, will have been absorbed, no
resumption OF the bull market can be
expected"
Philadelphia wired: Knit under
wear duplicate orders coming in vol
umes from West and New York more
than we can make until July / next
at our own prices, which means 1-2
per cent. advance, making second adj
vance this season. Country absolutely
depleted of merchandise; every one has
oversold original purchases. Yarns
much stronger. advancing steadily"
New York wired: when we take
into consideration that all sources of
Information describes the bales this
year as running light we may reason
ably expect that the ginning for the
4
bring the crop up to the Governments
estimate Of I0.0SS.000 total for the sea-
son. This we believe practically I'M
possible as the previous period Decein-
/ Der / to Is. was what Is known as
the rush season for ginning in order TO
complete the work as soon as possible
before the holidays.
Therefore we expect decided fall
ing on as compared with previous pc
RODS for the rest of the season, and
while we may have a rather indiffer-
| ent. quiet market during the holidays.
we expect the open demand for the
| actual cotton In January which Will
be required to satisfy commitments
for that month to force the price OF the
staple in the Southern markets to
much higher level than has yet been
4 reached.
short sales Of future contracts at
i these prices and In the face of builish
conditions are fraught with peril to the
seller as the competition to secure spot
cotton for the balance of this season
| will no doubt be great"
4 Following Is q copy of. q market let
ter as mailed by H. and b. Beer. cot
ton merchants of New Orleans. to their
/ correspondents:
| what will probably be looked upon
in Europe as confirming the United
Etates Governments small cotton crop
estimate OF l0,0e6,00o bales as 90 the
probable size OF this years growth is
4
| 222 bales ginned to December IS,
against 1890, SIS bales ginned to cor
responding date last year and 9,2S4,97O
bales ginned to the same date In 1907.
During the last period only $4,000
bales were ginned compared with $685.
900 same period one year ago and 941,-
600 for corresponding period two years
ago. During the first thirteen days of
December this year Texas only ginned
81 900 bales. last year 10000; Arkansas
$4,000 against 1900; Louisiana 1900
| against $1,000. and Oklahoma only
10000 against $4,000 bales.
| "On December / 1t was generally
estimated that at least 81 per cent. of
the crop had been girlned against 81 Il
per cent last year. On December 10
the bureaus small crop estimate tndi-
Gated that SO per cent. of the crop had
been ginned to December ], or 4 Il per
cent. more than one year ago. To De-
cember Is of last year so.1 per cent
of the. crop had been ginned. and If
we only allow about 2 per cent. more
of the crop ginned to 18th inst, al
though two weeks ago per cent, more
\ than last year was reckoned with, the
indicated growth this year points to
only about 10,066,000, which is in keep
ing with the bureaus small crop esti-
mate.
THE census report will probably do
| more than anything else to convince
Europe that the Governments crop es
innate Is approximately correct and We
anticipate more uneasiness on the part
of American and European spinners
and a better demand for spot cotton
from this time on, as 1t is only a ques-
ton of time when cotton will become
| so scarce as to make possible a scram-
BILE for the remnant Of this crop, such
as the following comparatives would
| Indicate:
Estimated commercial crop. 1909, TO-
800, 900; 1908, 1896, 900; 1907. 11,572,000.
Marketed to December 18th, 1903, $500
900; 1908, 7,755.0o0; 1907, 6,7ss.000.
Amount of cotton yet to be marketed.
1909. s,7s1 900: 1908, s,o71,oOo; 1907. S.
1888, 600. worlds visible of American
December II. 1909. 8.777,OOO; 1908, A.
244,oO; 1907. s.47O.ooo. Total available
balance of season, 1909: 15SS,oOo; 1908,
How the world will manage to get
along even with the curtaiIment now
In force in Europe, with supply of
| 2.777. 900 bales less than at this time
last year. especially since Mr.. Ellison
makes foreign mill stocks 10000 small
| er than one year ago, Is hard to con-
ceive. Higher prices are inevitable,
there is no other alternative"
|