New-York tribune., 1915-12-25
COTTON SUCCUMBS
TO HOLIDAY FURRY
Merry Christmas Chief Bidding
After Selling Spell Is Shelved
for Trade Musings.

About the only feature In the cotton
market yesterday was an early furry
OF covering which sent January con
tracts up to 1890, or about 10 points
net higher. Once this demand had
been supplied, business became very
quiet, with brokers devoting most Of
the afternoon TO the usual exchange OF
holiday greetings and festivities. Prices
eased off from the best, but the close
was firm at a net advance of to ~
points for the day.
There were no cables from Liverpool,
which will remain closed until Tuesday
morning. There was nothing in the
general news that attracted special at
tention around the ring. The market
opened steady at an advance OF points
10 a decline of ! point, and sold about
II TO 10 points net higher during the
middle Of the morning on covering OF
shorts. Scattering accounts had been
pretty we'll evened up for over the
holidays and scattering liquidation OF
January contracts in anticipation OF
notices on Monday had also been pretty
we'll completed. The demand for
January shorts was supplied readily,
as the difference between that delivery
and March narrowed TO about 27 points.
As soon as this buying tapered off the
market was left practically bare OF
orders. January closed at 1l.92c, and
later deliveries showed reactions of z
10 points from the best.
Such discussion of trade conditions
as occurred around the ring centred
largely on the export situation. II was
reported that ocean freight brokers
were now asking a rate Of 1926 a hum
dred pounds on cotton from New York
to Liverpool, compared with the last
rate paid of 81 hundred. Prior TO
the war the rate on cotton TO Liverpool
ruled around 20 to 25 cents a hundred
pounds, and while the rate Of sterling
exchange on London has strengthened
lately the situation in this respect is
also against the export movement An
other factor which is supposed TO op-
crate against shipments Of cotton
abroad, or at least the consignments
which American merchants frequently
make at times when stocks here are
ample and are comparatively small
abroad. Is the restrictions that have
been replaced by recent legislation on
selling by Americans in the foreign
markets Liverpool importers have
tight money conditions TO contend with
abroad as well as scarcity OF tonnage
and high freight rates, while money in
this country ia easy. IL is believed in
some circles that the growing scarcity
Of stocks in Liverpool would invite
consignments by American exporters,
we're it possible 10 hedge such ship
ments by sales OF English futures.
Exports for the day were 1928 bales
and for the week l20,623, against 29s,-
S33 for the same week last year. Ex-
ports for the season are now about
10000 bales behind last years figures
10 the same date.
The weekly movement figures of the
New York Cotton Exchange follow:
Port receipts. 222,3Sl bales, against
t37,46S last year; overland 10 mills and
Canada, 1920, against 35,059 last year;
Southern mill takings, estimated, ll5,-
600, against 10000 last year; gain Of
stocks at interior towns, 20,059. against
22,9l3 last year; brought into sight for
the week, 400,G50, against 675,440 last
year. Total crop movement re-
ceipts, 3,970,59i 1,530 deducted Gal
veston), against 4,369,939 last year;
overland 70 mills and Canada, 543,377,
against 453,9l0 last year; Southern mill
takings, 100000, against 1867 1897 last
year; stock at interior towns in excess
Of August |, 9l0,2l7, against l.072, l09
last year; brought into sight thus far
for season, 7,014,l85, against 1903, ,845
last year.
K.nEs Of pricns