The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1910-12-20

the Texas board of agriculture. whose
recent report places the ginning OF
that state TO December LIST, at 114,-
900 bales more than the bureau esti-
mate for the same period. Notwith-
standing the many claims which are
being made that very little cotton
remains to be ginned. unofficial re-
ports from various sections OF the
belt are to the effect that the gin
ming to date is running in excess Of
corresponding dates in recent years,
and this, together with the continued
heavy movement of the crop, makes
Il rather difficult for the bulls to dis
sipate the growing belief in a supply
sufficient to meet all normal de-
mands. II the contention of the ex-
ponents of high prices that this sea
sons supply is inadequate is to be
accepted, evidence must soon be
forthcoming to prove that the govern
ment has not again underestimated
the total yield. without which It will
be difficult 10 induce further specu-
lative participation by a public who.
from their lack of enthusiasm. ap-
parently believe that 15c. cotton
discounts much that is really bullish
in existing conditions.
The foreign situation is still the
backbone of the bull position. Man
chester and Lancashire are particu-
larly optimistic regarding the goods
market. and are predicting a fur
Their trade Improvement after the
first of the year. This is in direct
contrast to conditions at Fall River
and Providence. where business
shows further signs of slowing up.
Yarn manufacturers az these cen
ters claim that the recent advance
has killed what little prospects they
had of new business as buyers refuse
absolutely to meet any advance above
going quotations for their products.
Business in the expert division of
the cotton goods market has been
rather quiet during the week The
China movement has stopped entire
ly. while sales to India and Manila
are of only moderate proportions
Stocks OF cotton continue to pile up
In the domestic market; at six lead
ing points they are twenty-eight
per cent. larger than a year ago.
while the into-sight movement for
the week is almost double that of
last years.
From all Indications the option
market is heavily long speculatlvely
and every buliish factor is being en-
phasized not only to prevent liquida-
ton, but to induce further public
buying Sixteen-cent cotton is free
ly predicted by the leaders by New
Years, and to further help the up
movement, reports have been circu-
lated both here and in Liverpool
that the worlds spindels this year
will require over 12,500 900 bales
OF American cotton to satisfy their
needs. In the trade u Is generally
known and freely admitted, in view
Of the present situation and the flu
ture business outlook, that the
worlds requirements of American
cotton will not approximate anything
near those figures. In fact to de-
yelop such a demand would require
a revival in general trade conditions
equal to that which existed in some
of our recent boom years. In the
meanwhile 1t cannot be denied that
the coterie. of bull leaders aided by
their enthusiastic following, have
the market well in hand. but 1t re-
mains to be demonstrated TO what
extent they will be successful in
hquldating their contracts for fu.
trre delivery which II is known are
lexcssdlazly largs.--Hqnty Ileus 4