The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-19
ACTIVITY
FEATURE OF MARKET

New York, December lS.-Thc prin-
cipal feature OF the market the past
week has been tho activity of the bull
interests in the support of prices, to-
sether with tho largo amount of
hullish news i'll circulation. This has
been chiefly regarding the alleged
practical exhaustion Of the crop left
unGinncd 10 discredit the govern
lnont's recent crop estimate of 11,42S,-
QUO running bales of 500 pounds each,
III tho effort to show it has been an
oyerestimate on the total yield At
tho same time. however, there has
been little or no increase in outside
speculative or investment buying, and
tho South, instead of backing up such
reports with buying orders, has been
more disposed 10 sell.
This has resulted III a much reduced
volume of business the last half of the
week, with cratic fluctuations within
narrow range. i.
Prices declined..19 ,peints from last
Saturdays dosing to Tuesday when
January went down to 14.7i, March
l6o2, and May 1921. From that level
such good support was rendered there
was rally of - to % points by
THURSDAY with January then advanc-
ing to 1896, March 1926. and May to
hHstn. 'IiudN lHSre WIS II stump,
however, which carried prices back to
the closing of last Saturday. with Jan
uary ending about 1856, March 15.14,
and May 15.22, or about unchanged, as
the result of tho entire weeks bust
ness
Heavy Accumulation of stocks.
In the meantime, the contract stock
Of cotton here has been steadily in
creasing throughout the week. It IS
now up TO 1900 bales, against 174,-
dQ0 on December / and $4,000 a year
ago. This is the largest stock of cot
ION held here in years, and is within
10000 bales of the big stock which
the extensive bull movement of last
summer attracted here by the corner"
OF the July and August options, when
the latter was advanced In the closing
DAYS of that month TO 20 cents per
pound the highest price reached for
over thirty years. on the present basis
Of 10 IA cents for middling cotton
now quoted in this market, this total
rtoNh is worth over s1T,o00,000 More
cotton is headed this way, and It Is
believed the stock will continue tc
Increase, and may reach last summers
big total of about 275000 bales before
the end of next month Some think
mis- accumulation is for the purpose o.
preventing violent fluctuations in III,
market. as most of it is now owned o.
controlled by the leading spot interests
as against the big long Interest il
March and May held by the lcadnf
bulls, most of whom are the sam
who were so successful in bulling TIL
market TO the high records last sum
mer,
Movement of the Crops
The movement of the crop continue
heavy. The weeks total amour
brought into sight. according to tn
figures of the New York Cotton rs
Change, approximates 100000 bale
against 100000 bales last year an
about $4,000 in the big crop seaso
Of tho previous year, This makes oy'
1916, coo bales which have been brougi
into sight from the opening of u
season on September ! to date. again
G,S0o,00a during the Same time la
year and $4,000 the correspondent
period tile year before, when the tot
commercial crop movement exceed
ls,5po.oG0 bales. against lo6oo,ooo la
year.
or this total the exports approSima
a,7go.eo0 bales. against 100000 la
year Worlds spinners' takings for
week are estimated at $4,000 ba!'
against 324 600 last year This. d
Quoted from the total amount Of I
srop brought into sight. would indica
an increase In the visible supply
American cotton this week Of abo
$1,000 bales. agrinst an Increase
IaMe0e laal NseA. seA!l,4lsd- ! iia Al !