The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-28
COTTON NARROW AND
SLIGHTLY EASIER
Stopping Of March Notices Has
Very Little Effect
on Prices.
NELL ON CONSUMPTION
British Authority Considers
Estimate Of 14,75O,OO0
Bales Too Low.

Notwithstanding the fact that March
leading spot interests there WAS little
buliIsh excitement on the Cotton Ex-
change yesterday and the market closed
irregular. 8 points higher on March and
unchanged to Q points lower on the later
positions Notices were issued on about
10000 bales, with tenders made by q
number OF commission houses and firms
acting for Southern shippers. This rep
resented about three quarters Of the local
stock, and consisted chiehy OF medium
and low grades, which were fully up to
;ype owing to the action of the inspec-
ton bureau In rieorously excluding cot.
ton that did not come up TO the standard
Liverpool was inclined to show more
or Ices weakness. ana Notwithstanding .
steady tone In the local market during
ne FIRST hour prices In Liverpool showed
q tendency to ease OF. Sentiment abroad
s becoming increasingly bearish on cot
Ton. chiefly owing to the low basis on
which growths OF other countries are SELL
nc compared with American good grades
Members OF the exchange have been
greatly Interested In some recent experi-
msnts conducted by the Department OF
Asreulturs In tho manufacture OF yarns
out OF the various grades Of American
cotton These experiments show that the
commercial differences on the low grades
make too great 4 discount in comparison
with the textile value OF tho low grades.
In other words the amount OF yarn OBJ
tanned from the poorer qualities OF cot
ton shows small percentage Of loss and
not At all In proportion to the discounts
at which these grades are offered. The
grade known as good ordinary. for In
stance according TO these experiments,
shows q textile efficiency Of about only 6
per cent. lees than middlinE. whereas the
present commercial differences give Il a
discount averaging about "a per cent be-
low middling.
The week end figures were slightly dis.
appointing to the bulls. The into sight
for the week was about $4,000 bales,
compared with 200, 900 bales last year.
The spinners takings were ga. 900.
against $4,000 last year. The decrease
IN the visible supply was only $1,000
bales, compared with q decrease Of about
10000 bales last year.
one significant item OF news was con.
tanned In the following circular OF Nell
Bros. Of London. dated February II: I'VE
continue TO reckon upon our October est.
mate OF 14,750.00o bales for the seasons
consumption OF American cotton. although
ths developments month after month
would still warrant a considerably large,
frire. In America this Is strikinEly con-
rrmed by the Census Bureaus statements
81 actual consumption In the United
S'ste0. With the excuses OF III 900 bales
over last year consumed In the United
S;ates and Of 1sl 900 bales In the takinss
nv Continental spinne-s and OF 1o5.o00 for
Japan. &c. IL is surely errinG on the side
ot moSOration TO reckon upon only 1880.
900. as the present seasons consumption
- American cotton. against 1t.ss3.000 last
year and 1890. 900 In lsli-l?"
Spot cotton was points higher. Mid.
ding upIands. 1860. Spot cotton In ths
principal Southern markets was unchanR geo
10 iSc. higher. New Orleans. l3c.
Charleston. l2T&c Norfolk. l3c. Savan.
nsh. f3c. Memphis. l3c. Augusta. 13h C
Futures closed steady. . points lower at
points higher