New-York tribune., 1916-01-01
EXPORT DEMAND
STEADIES COTTON
Business Grows Quiet After Liv-
erpool Closes-Even-up Chief
Local Activity.

Reports of an improving export de-
mand and foreign buying OF near
months gave the cotton market gen
orally steady tone yesterday, although
early advances were not fully main
tanned. March contracts sold up to
1852 during tho early trading, or IA
points above Thursdays closing prices,
and closed at l24S, with the general
list closing steady ut an advance OF D
to 10 points. Business was fairly ao-
tive at the start, but became very
quiet after the close of Liverpool, ana
the reactions from the early high level
were due 20 realizing for over the New
Years adjournment. All markets Will
be closed to-day, but Will reopen LOT
business Monday morning.
January notices were reported IN
circulation at the opening, but amount
ed to only 9C0 bales, and evidently
caused little or no liquidation, as nrst
prices were TO 8 points higher. LlV-
erpool was a moderate seller OF late
months. but was again an active buyer
of near positions, while there was q
good deal Of scattered covering. The
active months sold l2 70 IA points net
higher before the end OF the first hour.
Reactions of or 7 points followed
but signifed little more than dispo1-
sition 70 take profits following an ad-
vance of about 50 a bale from recent
low levels. and 70 even-up commit
ments for over the turn of the year.
Southern advices again reported a
better export demand. This is attrlo-
uted to the diminishing supply OF raw
materials abroad. and the idea that
foreign importers must soon hnd
way TO replenish stocks OF raw COT
ton was encouraged by reports OF con-
tinued activity in Manchester. Scar
city Of ocean tonnage and the high
freight rates are against the antlci-
mated Improvement in the export
movement. but the higher rate OF ster-
ling exchange favors the foreign buyer.
In soms quarters IL is felt that Eng
lish importers are likely to be assisted
bv the British government in getting
freight accommodations, should the
demand for raw material become more
messing. Exports so Ear THIS season
have been only about 2,3OO,OOO oaies'
while local statisticians figure that
stocks Of American cotton abroad az
the visible points have been reduced
bv nearly 100000 bales since the pc
ginning OF the season. Consumption
is proceeding at rate consldefsoly
in excess OF importation abroad ana
the situation Is working toward an IN
evitable readjustment
Exports yesterday were 2S,lol oaIes'
making $4,000 for the week, against
I5I,77S last year. A better, feeling
ever the Ancona affair contributed TO
the early advance.
The weekly movement figures OF the
New York Cotton Exchange follow
Port receipts, 1S6,l63 bales, agains,,
$50. .ss2 last year; overland to mills and
Canada. 27123, against 2S,l92 last
wear; Southern mills takings. estimat-
ed. 10000, against $4,000 last YEAR
gain Of stocks at interior towns, 9,4oo'
against l5l last year, brought INTO
sight for the week. 337,772, against
459, 1925 last year. Total crop move
ment: Port receipts, 4,l6e,7554, against
4,720,S2l last year; overland 10 miIis as
and Canada, 67O,5Oo, against 4s2,lO2
last year; Southern mill takings'
/ .7O5, 900, against --LATEST last year;
stock at interior towns in excess OF
August /, 919,7o3. against l,O72'!6O
last year, brought into sig ght thus Tar
for season, 1851 ,e57. against 7''ZS'-
070 last year.
Range OF prices