The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-11-20
c01Ion Dul|If TIE WEEK.
LESS DEMAND FOR SPOT PROBA.
BILE CAUSE OF DROP.
Heavy Liquidation Here and Abroad
and Largo Receipts slso Consider
ed FSctors I'm Decline Of Pricce-
Despite Buliish Conditions known
TO Exist, Argumcnts Of Bears Ex-
crt Greater Influence In Market.

crt Greater InAuencc In Market.
New York. Nov. 15.--Cotton has de-
clined owing to a heavy liquidation at
home and abroad. large receipts and
persistent reports OF a falling of In
the demand for spot cotton in the
South.
The recent big ris0 In cotton was
mainly based on the active call for the
actual cotton at Southern ports, large
ly for Europe. but to some extent for
American spinners. THIS business was
done. 1t was generally conceded. at an
unusually high basis. especially for
good. white cotton. which most reports
agree was none to easy to buy.
Exports also have been catching up.
Manchester has been doing a good
business at firm prices. German mills
OF other countries Of Continental
Europe are at last fairly well engaged
ahead. In this country an excellent
business in cotton goods has been done.
The print sales of r all River last week
were OF the largest for a long period.
Prices of goods have either advanced
or else have remained Arm or else in
some cases discounts have been re-
duced. something in itself tantamount
to rise in prices.
What Is more, 1t Is a fact not gen.
orally known that Japanese mills are
caught mapping. 1t Is not believed
that the New England mills are any
too we'll supplied with the raw ma
tertal either. At the same time they
are making money as they have not
made money for years past. The crop
accounts from Egypt are less favor
able. Wheeras at one time the crop
OF that country was estimated at eight
million cantars. 1t is now estimated at
$500. 900.
Yet the foregoing factors have had
less influence than the decreased de-
mand for spot cotton, the large re-
eeipts at all the ports and interior
towns. the disturbed political situation
In Europe. the fear at one time of the
downfall OF the Liberal ministry in
England. the fear OF serious compli-
cations growing out OF the settle
ment or readjustment OF political con-
ditions In Southeastern Europe, raised
by the Balkan war. heavy liquidation
In New York and Liverpool partly on
stop orders. the overturning Of pyra-
mids here. the frightened selling OF
eleventh hour bulls. and finally some
tendecy to increase crop estimates.
Neil. Of London. who was supposed
recently TO favor an estimate OF 49,
$4,000 bales. now, 1t appears, inclines
to adopt as his figures on the crop a.
$4,000 bales. Such things have had a
chilling effect on bullish sentiment
here. Some If the bulls themselves
have taken the ground that there
might be temporary decline even
though they look for an ultimate ad-
vance on the big consumption and a
crop which they consider IL at least
100000 bales smaller than the last
one. while the consumption they be-
lieve will fully equal that OF last sea-
son. when IL was approximately A.
500. 900 bales
"A tendency to increase crop esti-
mates and a falling off in the spot de-
fmnd at home and abroad OF late
ldverpoofs spot sales have dropped
TO 1000 bales--have had a depressing
effect The weekly statistics were
considered bearish.