The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-17
CLOSING BOND QUOTATIONS

opened steady at an advance OF 1d2 points,
cables were little better than expected
and private cables from English traders
were more bullish than otherwise. At the
end of the first half hour of business prices
were unchanged to l point lower compared
with yct erdaY's close. The National Gin
ncrs' Association officially announced that
its return showed only 47I, 600 bales of cot :
ton sinncd In the period ending December
IL, making the total ginncd to that date
only l06i7CQo bales. If the figures are vcri-
fed by the Census Bureau it is generally
admitted on the Cotton Exchange that the
governments estimate OF the crop. H. 42sooO
bales. is too high. At noon prices Were I'M
changed to ] point down compared with
Yesterdays close. In the afternoon the
were lower to 4 points up. Closing bids:
December, 1872: January, 1895; March, 1878;
May, 1916; July, 1856
New York, December 1s-Weekly Cotton
Review.-The underone OF tho cotton mar
ket is considered firm. and during the week
vance. even in the teeth OF some large IL
quotation. attributed rightly or wrongly. In
part to prominent outside interests. The
thing on which attcntionlately has been
rivetcd Is the persistent report OF the smal
mss of the quantity Einncd from December
! to December 49, Estimates have ranged
pArently crystalzed around 100000 bales
against tsl,l99 bales for the same time last
ycar: S95.6cS two years ago, and ai06li for
la like period in l90l-0s when the crop
ll.325,SS2, according 10 the census returns
II the Census Bureaus figures on the gin-
! ming for the past fortnight. which arc 10
be issued next Tuesday back up the recent
government crop estimate of il.i26,0G1 bales.
exclusive of linters, the effect may be mark
ed and Widespread, especially among those
who accept Nell Brothers estimate of the
worlds consumption of American cotton for
the present season OF 12,5oo000 bales as
against 100000 bales. according to same
the present season OF il.5O0 COO bales. In this
connection 1t Is worth while to note that
some large southern houses. usually we'll in
formed, have switched. il Is understood. to
tho bull side after having adhered to the
bear Side for months under tho impression
that the crop was something like l2,5oo0oo
TO 13.000000 bales.
Persistent reports arc in circulation to the
effect that the East Indian crop is consid-
orally smaller than that last year. Ralli
Brothers being credited with this statement.
Large spot interests have been steady buy
ers. At times Liverpoos spot sales have
been large. Lancashres business has been
good. Spot markets al the South have been
strong. with reports of a good demand.
Exports are running well ahead of those of
last year on the other hand, it is true that
speculation has been light: that receipts at
the ports have been liberal and that somo
body has been liquldat!ng considerable cot
ton on the bugcs. 1t is also true that the
MN , olh SlpCh mas bttll increasing idplb-
ly. gaining some $1,000 bales thus far this
month. until the total is pretty large.
fact which may act as somewhat OF curb
10 speculation. Reports about the cotton
business are still more or less gloomy. 1t
Is denied that the East Indian crop is
smaller than last year Finally, speculation
IS quiet, but the statistical position, accord
ing to the bulls, Is strong. Texas needs
rain. European trade is cheerful a re-
tail and jobbing business in this is looked
upon as good, and /, is insisted by the bulls
that prices will gradually mount to high
or level especially after certain holdings
have been absorbed