The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-02
EXPORTS OF COTTON
ON RECORD SCALE
Enormous Clearances Offset
UnfavOrable Market
Factors.
BIG LANCASHIRE TRADE

After an opening showing more or
less hesitation cotton turned steady and
made a net advance of about ~ points.
There was some uneasiness among
traders over the effect Of the German
submarine scare. as II was felt that
cause considerable buying in Liver
pool the effect az possible interference
with exports would depress cotton In
this country.
This feature was onset. however. by
the bulliSh character Of developments
lator In the day. Exports Yesterday
broke all records for the season and
amounted to approximately 10000
BALES This followed exports Of nearly
1000 bales on Saturday making the
largest clearances for two successive
days on record The figures of 1898
bales yesterday compared with exports
~ only 1000 for the CORES ponding
day last year Shipments from Gal
weston alone reached total " 1851
bales
Evidently Germany nae been getting
good deal more cotton lately than II
naa been credited with receiving. A
despatch I'm the Liverpool Morning
trade Journal as stating that 5000
bales OF Gotten destined for Germany
had arrived at European ports. This
cotton was divided as follows 10000
40 Gothenburg, iO. 900 100 Rotterdam
and $4,000 at Bremen.
The bullish character OF mail advices
received yesterday from Liverpool fur
nished much surprise. Government
orders placed among the cotton mills
OF Lancashire are said to be enough to
offset the slackness Of trade In all other
lines. One Manchester manufacturer Is
quoted as saying that he had received
bids for more than six million yards Of
goods. Spinneis alsu are believed to
have much cotton to call and there are
signs that a great many contracts re-
Gently made for yarn and cloth have not
been covered.
Local sentiment Is not publish. how
ever, as advlcys from the South lay con-
siderable stress on the enormous stocks
OF cotton in the Interior Bad roads are
held responsible for the failure of farm
ers 10 sell more freely. As il is impossible
Tor them to get their cotton to town.
As a general thing however IL is con-
sidered safe to assume that II interior
holders are successful in hanging on to
their cotton until after the turn OF the
year they are usually able to hold II in
definitely
Southern spot markets yesterday
showed considerable steadiness. Savan-
nah reported an advance OF &c. per
pound and said that bids on this basis
were not bringing ont much cotton from
the interior.
The Market World and Chronicle in It's
review OF the cotton situation ia its last
ISSUE calls attention to the delay by the
Department of Agriculture and me Treas
ury Department In promugating the
rue ana regulations covering the opera
lion OF the new cotton law. II says:
This nervousness Is not diminished
by the increasing evidence that the Off
GERS Of the Government itself have lost
faith IN the propriety OF the new law.
The Washington correspondent Of this
paper few days since asked a nigh
official OF the department Of Agriculture
MS opinion OF rne AGA. HE reply was
Il is absolutely unworkable and 1t ought
" be either amended or repealed Ask
cd how the act should be amended, the
pffic.al replied: 'Ry striking out all
.fter the enactng clause.
Futures closed very steady.