Pine Bluff daily graphic., 1911-03-01
THE COTTON SITUATION

New York, Feb 2S.-Politics is a factor of considerable importance in | the cotton market at the moment and prices respond quickly to any sort of news from Washington, either pro or con, relative to the Scott anti-option bill Sentiment is rather general that there is no change of the passage of the bill at this session., notwith- standing which a very nervous feel ing prevails as result of the 2gita- tion. This has acted as another de- terrent to public participation with the result that the market is almost entirely in the hands of the profess sional element whose trading opera tions for the time being are responsi- ble for the daily market changes. Ow- ing probably to the fact that the urg- e'nt liquidation of the past two weeks has apparently halted, their recent commitments have been made fol the long account, and it is this buying which has brought about the firmer tone which prevails. That the re- adjustSeent of the price level to . basis comm ensurate with trade condi- tions as reflected in the goods marke; has been completed can not yet he granted, and, barring unforeseen de- velopments, the general drift in the long run should be toward lower range of values.
 The weather throughout the belt g favorable to planting conditions; slow soaking rains have continued with the result that the soil is in fine condi- tion for cultivatin. Considerable ploughing has been done, and in son. parts of Texas the seed is already iii the ground. Farmers are making large purchases of mules and nave bought fertilizer in enormous ouan- titles, all indications pointing t1 fhe fact that every available acre will be used for crop purposes this year.
 Liverpool advices are somewhat conflicting, but there is no doubt that there prevails a feeling Of appreEan- sion as to the way a1.d means O. dis pGsing of their enormous stocks now that the China trade with Engrsnd has received such severe shock.
 Tn tbe Fall River section no in;- movement is discernible. Ya.n mar Ne;s are particularly quiet, wa;'n bus i,ess in print cloths is reported light at "a shade lower price The only orders in evidence are to supply in mediate needs. Curtailment Is jn- CT easing as contracts placed In tha early weeks of the year are heing 1a- pidly completed The coadi:ioG of affairs is accurately reflected in the price of the shares of the New Eng land mills, which are weak and de- clining, due, however, not oliy to the unsatisfactory state of the cotton goods trade, but also to the fact that cotton stocks at Fall River alone have depreciated in value over S3,00),0O0 within a year. The into-sight move ment, although showing Al failing Off from last week, is still running full when compared with previous years and stocks at the interior points and the ports show little or no diminu- tion The net receipts for the week at Memphis are larger than expected. while sales have run only little over 1000 bales. The stock has been further increased and is now in ex- cess of 13O,000 bales.
 Notices for between 100000 anc TO- 900 bales were issued on Friday, the first notice for the March option, and, considering the month. the tenders were unusually large, but these were stopped by the bull clique who are naturally making every effort a. this time to prevent further bad b!eaa. As we stated in our Review of last week, after such an immense decline, rallies can be safely countel upon, but there is nothing in sight as yet to cause any pronounced advance.
 HENRY CLEWS X co. .a .A = A sA sA A "