The Montgomery advertiser., 1909-12-18

.a
 Following are the opinions of some New York cotton houses:
 Bailey and Montgomery-Tt looks like ten to twenty point fiuctuation for the present."
 Hayden. Stone and Co. .-"The week end figures tomorrow can hardly fail to be very bullish and should the census report on Monday confirm the Governments crop estimate. we see no reason for uneasiness on the
 Argo, Jester and Co.-"General ex- pectation appears to be for rather ex- tensive liquidation on any advance re- sulting from the publication of the gin ming figures, after which 1t Is thought that prices will again move up on bull and increasing trade demand"
 Miller and Co.--"At present 1t all appears to us that hard spots should be taker advantage to sell on for we feel that, the resumption of the upward swing will have to have It's beginning from lower level"
 Following Is copy of crop letter as mailed by Veil Brothers, cotton merchants of Montgomery. to their cor respondents:
 Picking is completed in this section. and ginning is practically finished. Mar keting has been going on slowly but steadily.
 'aThe demand has been chiefly to fill contracts made earlier this season for December shipment. New business has
 
 has been some put through. The New England spinners claim to be able to buy at lower prices in Texas than In the Atlantic States. Southern mills in the market at all times In small way. Europe. with the exception of a few spinners' orders, has kept out of the market. The reason given for this is that the Liverpool contract mar ket is so much cheaper than New York and New Orleans This makes lm- porting by Jobbers and dealers in Flu rope impossible.
 rule, have been from steady to firm. Holders of cotton meet the market spas- medically whenever a sufficient ad- vance takes place. Holdings are not concentrated, consequently there will be no heaviness in the spot market dur ing the balance of the season.
 At present January contracts in New York offer the best opportunity for spinner purchases. They are much below what cotton can be bought at in the South, and the grades held Tn New York are of excellent character and spinning quality. On the other hand, we find New Orleans January. in fact the entire contract market there, to be considerably above the spot parity of the South, and to export future quotations of New Orleans would entail a great loss Consequently New Orleans at present stands out as being the highest market in the United States and New York the lowest. While the South is unable to tender cotton on contract in New York without a loss, 1t is able to ship cotton to New Orleans and tender on contract with a profit, even from the Atlantic States where the freight, as rule. is against such undertakings.
 .a,rhe demand for goods at the pre- vailing prices is slowly increasing, but purchases are of limited quantities. Therefore, spinners buy cotton cau- tiously and slowly"
 Following is portion of market letter from H. and B. Beer, cotton merchants, of New Orleans: | "According to reports from New York jobbers and retailers are doing the best holiday business in years, 20 per cent. better than last year and 40 per cent. better. than in 1907, and some merchants are predicting @ record breaking business this month. Tke great West Is reaping the benefits of very high prices for grain and provis- | ions, hog products selling at the high 1 est prices for thirty years, the South tx~ he fra nf