New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-18
COTTON NERVOUS;
HITS NEW LEVEL
Recent U. S. Report, Fewer
Peace Prospects and Interna.
tional Status Blamed.

The cotton market showed increased
nervousness yesterday and prices made
new low ground for the movement I'M
der a renewal OF heavy liquidation.
March contracts sold of 70 1885, or
$50 bale under the high level of last
week, and the general list closed barely
steady, at practically the low point, or
10 TO p points under Thursdays clos
ing figures.
The decline seemed traceabls to no
particular item in the days news, but
70 be an expression Of the nervousness
which has been more or less In evil
dence since the government report Of
last week failed 10 create any general
buying movement. This nervousness
probably has been increased by un-
easiness over international politics,
rather a less optimistic view of peace
prospects, talk Of rather full ginning
returns for the first December period,
and the continued light export move
ment. Moreover, this morning Liver
pool was relatively easy, while Liver
pool straddlers were less active buyers
here, Notwithstanding a widening Of
the differences. After opening at a de-
cline of 20 points, the market soon
sold 10 20 l6 points net lower. Rallies
of to 10 points followed on trade
buying and covering of shorts, but the
demand failed 10 broaden and prices
weakened again in the afternoon, with
the active months selling 81 10 %
points net lower Stop orders were un-
covered on this break, which carried
prices under the low level OF last Mon
day, and about 30 to 45 points under
the high level of the week. .
The census report showing an unusu-
ally large yield Of linters in proportion
20 seed was rather a surprise, but
many in the trade had anticipated
some such result, and the figures were
hardly an important factor. According
10 the official report linters obtained
prior TO December / this year amount
ed TO 3sl, 1927 bales, compared with Gal,
l42 last year, although the crush OF
cottonseed was only l,98l,ls tons,
against 2,479,931 last season. The In
centlve for obtaining linters Is found
in the competition by makers OF ex-
plosivss and abnormally high prices
compared with lint cotton values.
Notwithstanding that the seed Is be-
ing almost polished in the effort to Sc
cure all the linters possible, Il is sup
posed that users of linters this year
will be forced upon low grade lint cot
ton before the end of the season. Some
attention was attracted in the cotton
trade by the preliminary estimate Of
the winter wheat area, which indicated
that practically the same acreage as
last year had been planted in all the
cotton producing states, except Okla
homa. which showed a considerable de-
crease The official estimate Of cotton
acreage planted in India up TO Octo-
Der ! showed a decrease of about 27
per cent. as compared with last year.
Il is said British shipping interests had
been instructed that their steamers
should carry at least 30 per cent Of
grain In their cargoes from Southwest
ern ports, with this item serving TO
emphasize the scarcity Of tonnage, and
the improbability of any very material
bulge In the export movement for the
time being.
Southern spot markets, as officially
reported, were unchanged to % points
lower, with New Orleans unchanged,
while most of the other leading mar
kets showed declines of from 10 to
10 points.
The weekly movement figures Of the
New York Cotton Exchange follow:
Port receipts 262723 bales, against i35.7si last
year; overland D mills and Canada 1870, against
so $50 last year: southern mill tahngs. estimated
IFS 0OO against So 900 ast year: gain o. stocks a.
irtr.or towns 81 85I. against 39.4l5 last year
brought into sight Tor tie week 4sl 400. against
sos as last year Total crop mOTement-P0r re-
ceipts 7Is 7tO against ses2 al last year. over
land % mills AID canada 500.l6I. against 4sh5l
last year: Southern mill takings LAS Ooo. against
2sTssT last wear. stock AZ interior towns iu eA-
cess d August lst s45SSf. against l.0i' lto -ast
year; brought into sight thus Tar this season oo'o-
Eel against G. 6sS. as las1 year.