The Birmingham age-herald., 1909-12-18
HAL TING MOOD IN COTTON MARKET Spinners Are Fighting Very Hard Against High Prices LIVERPOOL IS BACKWARD Spot Cotton Has Continued Steady and While No Advance Was Made
 During the Week Outlook
 Is Still BuIish.
LIVERPOOL IS BACKWARD

New York, December 17.-Cotton prices have sagged under the weight of liquida- ton by southern, western and other oper- ators, also Liverpool has been persist ent sellers. The spot sales there have been very small, and the condition of trade across the water is represented as being very poor, even if the comparatively large spinners' takings do not altogether bear out this statement. Curtailment seems to be spreading on both sides of the water, owing to the semi-failure of the crop, both in this country and in Egypt, and the high cost of raw ma terial.
 Rumors that large southern operators who have been here for some time were about to return home have at times had a disquieting effect, although such re- ports were not verified There was per- sistent talk, too, to the effect that dur ing the coming week legislation inimical to speculation on the big cotton ex- changes of the country will be intro duced at Washington. Spinners are com- plaining bitterly of the high cost of raw cotton, and are said to be consistently fighting any advance by holding aloof as much as possible from the market. Fur thermore, as usual at the approach Of the holidays, there is more or less selling of what is termed Christmas cotton
 In addition, there has been not little liquidation of speculative holdings as matter of precaution on the approach of the holidays. The market, too, has reached point where. it evidently oulls' less easily than when>it was at lower level. Yet, on the other hand, some large southern and Chicago bulls are said to have latterly re-entered the market re- garding the situation as distinctly strong, and promising much higher prices in the future.
 Cotton goods have been more acs<~e in some directions, at rising prices. New England spinners in some cases, are said to have been buying futures. The re- ceipts have been light, and the quantity brought into sight for the week is very much below that for the same time last year.
 Spot cotton has been very generally steady and though quiet in most sections of the south. has been somewhat more active at New Orleans and Memphis Bulls think that a large short interest has latterly been created here. Prominent Philadelphia spot merchants. according to the common understanding, have been good buyers this week. On Friday Wall street and southern interests bought heav- fly on reactions, followed by a good many of the commission houses.
 Bulls have an idea, too. that the East Indian crop is not so large as 1t has been represented to be. In any case, they think every bale produced by the world this year will be needed to supply the worlds consumption. The Philadelphia yarn trade has improved somewhat. The National Ginners' association stated the amount ginned at g. .429. eco bales to Decem- ber 1S. Today prices declined early on dull and weak cables from Liverpool and bearish pressure, but recovered the loss later on bull support and covering.