The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-03
LITTLE CHANGE OF
PRICES IN COTTON
Too Many Uncertainties in General Situation tt
Stimulate Bullsb Activity to
ANY Extent.
Any Extent.

Z ton that the hurry in January would
/ give them a better selling basis Tor
! their holdings Of March.
/ Observation-Disclosures taOln hrdlrolu
! II any plans had really been arrang-
! ed for squeezing the shorts III January
they we're frustrated by the large
amount of cotton brought here during
the past three weeks. This amounted
10 nearly 10000 bales, with the con-
tract stock here yesterday amounting
TO $4,000 bales out of total ware
house stock of $4,000. There We're
actually q 700 bales of cotton tender
ed for deliveries on expiring January
contracts before noon yesterday. 80
that the bulls among the speculative
clement and also the spot interests.
now have about all the cotton here TO
take care of. with little or no specula-
tive interest in February contracts
outstanding, and the premium OF near aia.id
for January over either February OF
March now entirely eliminated; the
contract stock of cotton here TINS ume
last year was $4,000 bales, and THIS
amount will probably be equaled our
ing the ensuing month II any fresh
attempt is made 10 advance prices ioI
either February or March deliveries 10
anything like the premium which
January had carried during the last
two months.
Dragging situation.
In a general way there is ilttIe
change in the cotton situation IRON
the conditions reported IN TINS eolu Inn
prospective total supply OF cotton OF
the past seasons crop. with the addl
ton of linters. as slightly in excess OF
100000 bales. with over l.oVo,OOu
bales carried over into this crop year
on September ! in the visible supply
from last years record crop of 10
300 600 bales The worlds spinners'
consurnption this year has been estl-
mated by the Liverpool, New Hork
and Southern bulls as high as l4.!5O,UOO
bales. against the record actual con
sumption last year of 14.525.O00 bales.
There is little probability that tins
wears consumption will be as much
as 14.5O 900 bales. and ii may be con-
sidera bly, less There never has been
at any time this year any threatened
Indication of an ample supply TO go
around in meeting the actual require,
ments of the worlds spinners: ana
still leave a comfortable supply IN thS
visible stocks to be carried over into
the next crop.
Thus. the question as TO whether
cotton is selling for all it is worth
at the current quotations. or whether
il is 10 be regarded as cheap enough
for speculative and investment pur-
poses. is still debatable one. great
deal depends upon European politics
as affecting the trade OF Europe ana
on the Continent. and also the extent
of the revision in the tariff which the
new Congress is soon to take up, as
well as other matters which VIII come
before the new governmental admin
istration. influencing general business
in this country the balance of the year.
Moreover, within another month the
discussion of the acreage and the out
look for the new cotton crop Will also
become a potent factor in determining
the question of values. as regards the
disposition of the balance of the crop
still held in the South.