The Birmingham age-herald., 1909-12-11
EXCITING WEEK IN THE COTTuN TRADE Liver pool Has At Last Walked
 Up and Is Buying ALL FACTORS BULLlSH  Cotton Is Higher Now Than It Has Been Since the suly Boom of
 1903 and Bids Fair to Beat
 Sully Prices.

New York, December 10.--It has been an exciting week in the cotton market with new high records and a widening out of the speculation Liverpool. after weeks of lethargy, finally has walked up. It's spot sales are treble what they were short time ago. The receipts at the ports and inner towns have recently fallen off sharply and the ginning report last Wednesday was regarded as a very bull ish document. Naturally it showed marked falling off In the ginning com pared with last year. but it was also con- sidered significant that there was a strik ing decrease also compared with the fig ures of two years ago when the crop was Il, Al ,26e bales. IL was the signal for aggressive buying, not only by bull leaders, but also by outsiders.
 The believers in higher prices have been encouraged also by better stock mar lSet. the pacific character of the Presi- dents message, a reduction in the Bank of England's rate of discount, rise in silver in London, advancing spot mar kets at the south, the cold wave at the south and the failure of the Egyptian crop. In addition, there has been bet ter demand at New York for cotton goods. The reports of large dry goods concerns have been of very cheerful character.
 Spot sales at the south, have increased somewhat. There is demand, 1t seems even for some of the lower grades in the New York stock Wall street Chicago, New Orleans and Liverpool have all been buyers. There has been 6 noticea bie ex- pansion of the speculation. On the other hand many believe that 1b tents amply discounts anything of builish charac ter in the general situation; in fact, some people of experience consider the present price altogether too high. Spinners con- tinue to fight the advance by holding of as much as possible. Dismal reports of the spread of curtaiiInent in Europe are constantly being received and the yarn trade at Philadelphia is reported stag nant.
 Though the stock here is not increasing as fast as has been predicted, still there Is some In almost daily, and it is now nearly double what 1t was a year ago. Some of the bales in North Carolina are said to be considerably heavier than at this time last year. Hedge selling by Texas, Alabama and Georgia has been mo- ticeabe. On the rise there has been very heavy liquidation by leading bulls. There appears to be some likelihood of an anti option bill being introduced fin Congress this winter.
 Bullish sentiment, however. has been rampant. The grade is gradually ex- banding. The British exports of yarns and cloths for November made a buliish exhibit and the trade of Great Britain, according to the figures of the British board of trade, is increasing. Increased prices of commodities during the past year or more are by some economists at tributed partly to the augmented produc- ton of gold throughout. the world during the last dozen years.
 Cotton has been influenced not only by the bullish census report on Wednesday. but also by the expectation of a very low crop estimate by the government Fri day. Today prices advanced 32 to 45 points on the government crop estimate of only 10.OeS00o bales, Part of the rise was lost later on ft-taking, but the tone was very strong. .