The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1915-01-27
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Sez Tofk Jan. z5.-Tae absence O.
Y ir1 Dorts1t hedge selling zzs again tLs
4 biggest fsc,or ia ne cotton market
during he past week. and this, con
pied E.,1 good -zles Of SPOT quota
uors. resulted i1 q further advance
. ln contract DTices 70 the Aiglss, isye.
scored since the outbreak u the EURO
Dezn var TIE continued absence O.
hedge oEe-lgs simply tends 70 con
firm t1a theory t1z, it f. due not alone
~ tie 11EilliIz-ess Of southern hold
ars 20 s=u AZ this lsFel. but because
u the uncertainties which surround
the ~nes cDntract"-UEcerta that
cannot BE- removed for weeks 10 come.
u .s not the technical bur the stat
i.ilca. position, hoTever, from which
me staple derives Its real strength. Al
though exports are still below those
u year ago, the growth f. nov rapid
and continuous at time zhen IN nor
NAL year.. the crest Of the outward
movement has been reached. At the
moment cotton On shipboard awaiting
clearance f. estimated at over $50. 900
bales a. compared with Z25,OOO bales
in 1914, and from reliable sources It
is further learned that 200 vessels are
either loading at southern ports or
are under charter to sail with cotton
csrgOes from America before March
J. At the present time European
stocks are about $4,000 bales, as
compared with 2 21OO,00 bales last year
and 2,G0O.O 900 bales In 1919 Continen-
tai stocks are down to 429, 900 bales e
compared with well over a million
bales year ago. II "a well 10 take in
to consideration, in attempting to esti-
mate further foreign demand, that Ger.
many has 80 far taken only about So
900 bales since August !, az against IL
G77, 900 bales in the corresponding
period last year, while France has Ia
ken but 10000 bales as compared
With 10000 bales. These are gaps
which, war or no war must sooner or
later be filled. There Is no question
that Europe wants our cotton badly,
and from the fact that English and
German spinners as well as the COnti-
mental trade are buying steadily, It Is
quite evident that prices even though
they have advanced materially are act
ing as no deterrent. Domestic trade
conditions continue to show improve
ment In their latest weekly review
Marshall Field & Co. summarize the
situation as follows: There Is a larger
demand for staple cotton goods than
there has been for many years during
the same period" Fall River advises
that the demand for goods has been
increasing during the last two weeks, |
and as a consequence several con
Germs that have had their plants on
short time have resumed full time !
operation. The Flint mills which have |
been on short time since August lst, !
most of the period running four days
a week resumed full time last week, |
while the Laurel Lake mills resumed .
full tfmp tbiq Waok
There Is little question that basic
conditions in cotton are sound, and
there Is every reason to take a hopeful |
view Of the future. 1t must not be lost
sight off, however, that from the low
point established shortly after the re-
Of business on the exchange
cotton futures have made the enor-
nous advance Of approximately nine
dollars n bale, which. It must be con
ceded discounts in measure the ia.
vorable aspects of the situation On
any fair setback however, purchases
would seem to be conservative.