New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-24
SPOT COTTON
STILL LOWER
Exporters and Mills Coming Into
the Market - Syndicate
Plan Ready.

II is understood that the corporation
which is to carry outstanding Deem
Der contracts down from cents to the
72-cent level, should the market reach
that level, has completed its plan and
that ample support has been found for
the syndicate which purposes TO take
over the contracts of the corporation at
~ cents, and the objections of some
few members TO certain phases of the
plan are being gradually Outweighed by
The manifest advantages of an open
market and trading opportunities.
Southern spot markets were generally
unchanged to Bc lower at the close
yesterday.
AS exporters and investors show a
disposition TO enter the market more
freely an increasing demand is expect
ed from domestic spinners, some OF
whom are already reported TO be ar
ranging for heavier purchases. 1t Is
not anticipated that this improvement
will bring demand up to anything like
the normal, but the holding movement
in the South Is expected to make itself
more effectually felt as the picking
season draws to a close. Even now,
when middling cotton is officially quoted
at 613d6Ac in several OF the Southern
markets, predictions are heard That
when business is resumed here tho
price for new style contracts may be
in the neighborhood of cents pound.
The belief is that there will be an &C
emulation of buying orders, while few
anticipate that there Will be any lmpor-
tant speculative selling for short ac-
count, in which event the supply OF
contracts would be limited to the hedge
selling of the South.
Weekly movement figures of the New
York Cotton Exchanges: Port receipts,
245,914, against 499,905 last year; over
land to mills and Canada, 3O,l23,
against 43,73S last season; Southern
mill takings, estimated, 10000, against
5000 last year; gain of stocks at in
terio; towns, 107 500, against 66,468
last season; brought into sight for the
week, 443, 643, against sos, 100 last sea-
son. Total crop movement: Port re-
ceipts, l,063, $50, against 3,147,2 60 last
season; overland to mills and Canada,
64,513, against l37,172 last season;
Southern mill takings, 2S8,OOO, against
579. 1916 last season; stock at interior
towns in excess of August l, 1lO,463,
against 317,690 last year; brought into
sight thus far for season, l,926,53O,
against 4,1S1 ,9i3 last season.
Southern spot markets.: Galveston
easy at 65sc; sales, 1000 bales. New
Orleans &c lower a 61Ac; sales, 9S5.
Mobile nominal at csc. Savannah 'lsc
lower at 61ac; sales, 1925. Charleston
Lice lower at e1s065sc. Wilmington
Mc lower at SIC. Norfolk steady at
CSC; sales, 316. Augusta steady at
csc: sales, 1888. Memphis steady at
sic: sales, 1900. st. Louis quiet at
csc. Houston &c lower at 6hc; sales,
.2.385. Little Rock quiet at sac.
Liverpool, Oct. 23.-Cotton,, spot, good
business done; American fliddling fair,
6.O5d; good middling, 5.30d; sales, 400
bales, including $500 American, on the
basis of 5.O5d for middling. Imports,
2,668 bales. including $500 American.
Weekly cotton statistics: Imports, a.
600 bales; American, $4,000; stock,
76O 900; American. 100000; forwarded,
40 600; American, $1,000; exports, 5000.