The Montgomery advertiser., 1909-12-11
LOCAL MARKET
 HAMBOYANT Wild Condition After Federal
 Estimate. NEW LIVERPOOL SITUATION Government Peport Indicates a Total YieM of lO,OSS,O 900 Bales. szesteenery Cotton Men Display Some Anxiety and Are Inclined te Ac- cept Data ss semewAst Un- reIiable--Cettsa Deals show
 strong Undertoae.
 

sf It was a wild. flamboyant market iFriday, on the heels of the govern lnents low and bullish estimate of the kcotton yield. The estimate was not pub sutshed until one o'clock ?. m.. and its .lpublication was preceded by unusual tmervousness in New York and situa-
 sss n the new tssos TSs sSs t,exchange was wide open. fluctuating land very uneasy at seven p. m.. Eng Rish time. which was before the Unit ed States government estimate was re- N The government estimates the entire yield for the season at l0.0SS.o00. This 1s appreciably lower than the most the governments estimate on this date Hast year was 12.920,0O0 Local talent s1s skeptical as to the exactness of this sny inclpde % Mapsromsr1 Marenonssmsn saSinT waSi IT .buils, believe the crop is considerably greater than the governments flgrres Hhow and they present fEcts and bast accepted figures to substantiate their ! Whatever eonfideace is placed in the axovernment's estimate, however. 1t is 1arge looks upon It as something akin { 70 gospel, and 1t is what the United &tates Government estimetors say that really. governs the fluctuations of the and New York. Liverpool. especially puts implicit faith in these figures. as levidence by their marked dependence rsmained open a until nsh long W after " dark waiting for official tidings from the
 The Montgomery mart displayed Hurry throughout the.rest of the world and at one o'clock when the estimate twas issued. the Square had heen. re- the morning the local spot price rang cd around IA 5-S and closed at that nElre shortly after noon.
 Here is 9 syllabus of the calcula- 4tous that make Montgomery cotton men doubtful of the governments es- 4tmate. On November 14. the National
 5inners' reported the .ginnings to that anent's report placed the figure at B. E1Oa.7s7. Up to December 1, the Ma ttional Ginners' reported the ginnings las s.se4 900: this government reported estimate Friday is nothing more nor zass than an estimate. Eight months pet remain In which to gin the bal ance. according to the estimate of l. El09.72s: This. on it's. very face, think feven MontEomery's bulls, is an un- reasonable estimate. A yield of about Eaxeo0'00o or more is generally estimat- !. Yet. what Uncle Sam says goes. as ds proved by a glance at the fluctua- 4iqns Friday in the New York market. of six points. leaped as high as lA.94. 9All as low as 1z.61 and closed up at 1t8S, January's advance was similar ,0pening at 14.S5. with a gain of five points over Thursdays close. 1t went as high as 15.12. as low as 14.77 and closed at 15.03. March opened at 1519 &n advance of four points. went as high ae 15.6o. as tow as 15.09 and closed at a15.3S
 Despite government reports and es- kimafes and what not. Montgomery cotton men as a whole. confidently ex- pect sixteen cent cotton iu the early spring. Indications, at least, are that the crop is small enough to justify present and higher prices. and that any reaction whatsoever now will be only temporary.
 Liverpool was due four lower on Jam uarg and to 6 1-2 lower on later months. Opened firm, three to five lower At 12:15 D. m. 1t was quiet. net five to six lower on near and 1-2 lower to three lower on late positions Spots were quiet seven lower. Mid ding was 7.94. Sales were 10000. of which 5000 were American. Ports were estimated at 2s.000, against 26.a 900 iast week and 73.000 last year.