New-York tribune., 1915-12-05
COTTON UNEXCITED,
DESPITE BULL NEWS
Narrow FluctuatiOn and Steady
Tone Caused by Federal
Reports Next Week.

The cotton market was very quiet
Yesterday and prices fuctuated within
range of or points. The under
tone, however, was generally steady
and the market closed steady at net
advance of to points.
There were several features in the
news which were considered encourag-
ing from q bullish standpoint, but they
failed materially 20 stimulate demand
in advance Of the two government re-
ports expected next week. Business
appeared TO be along the line OF even
ing-up accounts, with Wall Street
moderate buyer On a scale down, when
ticularly In the late trading, when
there we're rallies of or points from
the lowest
The market opened steady at an
advance of to points In response
TO relatively steady cables. Active
months sold about 3 to 7 points net
higher during the early trading. Ke-
actions Of & or 8 points followed under
realizing, with May contracts easing
OF from 12.9lc. to 12S7c, and closing
at l2.90c.
Private cables attributed the steady
ruling OF Liverpool to some trade call
ing in a quiet market, while sllght IN
crease in the amount of cotton on snip
hoard awaiting clearance, as well as
reports of increased offerings OF COM
mercial bills in the foreign exchange
market, tended TO color the talk OF
some improvement in the demand for
Weekly reviews Of the drygoods
trade indicated continued activity,
with prices generally higher. while the
progperity of both cotton and grain
sections suggests a continued active
distribution, with a probability that
the actual consumption OF domestic
mills for the year will break all pre-
vious records. There has been less ar
gument in this respect, however than
with reference to export takings, ana
while the increase in the amount on
sL;nboord was encouraging. the
amount. 129,752 bales, compared with
126 .708 last week. was very small as
compared with the figures Of previous
years. According to reports circulating
on the floor. final returns TO the Ma,
tional Ginners' Association Indicated
either q ginning of 100000 bales for the
last half of November, or total GIN
ming Of 9,660,000 bales to December !.
There appeared to be more or less con-
fusion rs to which was the correct
version of the report, but either would
suggest a ginning to December TO
about 100000 bales, and 1t seemed to
be agreed that returns 10 this author-
ity indicated a crop of about ll,OOO,OOo
bales. excluding linters.
The census report on ginning VIII
be published at 10 o'clock Wednesday
and will be followed at o'clock FRI
day by the governments estimate OF
the WELD, which will be expressed IN
bales OF 500 pounds gross weight, eX-
Guiding linters. Uncertainty rs TO the
showing of these government reports.
which will practically settle all imme-
diate argument as TO supplies, has un-
doubtedly led to the evening-up or
many scattering accounts during the
last week, while somewhat similar
influence has been eXerted by appre-
tensions that some unsettling devei-
opment may arise in the approaching
session Of Congress.
The local matket for spot cotton was
steady and . points higher at l2.5Oc.
for middlng upland; sales, 20 bales.
- rrire