New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-19
LIVERPOOL UNABLE
TO BOOM COTTON
Foreign Strength Thought Based
on Continued Difficulties
i'm EXDOrts.

Strength in Liverpool again failed TO
stimulate demand in the local cotton
market on the ground that the frmness
abroad grew from the continued DIM
culties of the export situation. Trad
ing here remained very quiet, with
fluctuations narrow and Irregular.
Naturally, the failure OF the market TO
respond to the English advances led to
n further widening of the differences
between Liverpool and New York. The
only other features of the day were the
relative frmness Of new crop deliveries
and the tendency toward late month
premiums.
As the prospects for n large carry
over of cotton in this country have be-
come more clearly defined, owing to
the disappointing export movement,
there has been "A growing disposition
in some quarters to anticipate good
sized premiums on late deliveries. Con-
siderable progress has already been
made in discounting such a develop
ment. October contracts. which were
selling at a discount compared with
March a month or more ago, showed a
premium Of "a points at the close last
night. March contracts tluctuated be-
tween 1880. ami 12.05c. during the en-
tire day, closing at 12.5Oc., or points
lower, while the general list closed
steady, net points lower to points
higher.
There was some Liverpool buying
here at the wider differences during
the morning. After opening 3 points
lower TO points higher the market
sold about 3 TO 3 points above Mon
days closing figures, with new crop
deliveries leading the advance. The
English buying was supposed 10 be on
straddlc account, and after the close
abroad the demand became less active.
There seemed 10 be no particular press
ure, but in some cases near month
longs were selling out March and May
against purchases OF October and De-
cember, and the old crop deliveries
sagged back to about the opening fig
ures, while the new crop held gains of
or 6 points, as compared with the
close Of Monday.
Reports were received from eastern
belt sources that Liverpool buyers were
In the market for spot cotton and that
holders were asking full quotations.
There was comparatively little news
from the South and the trade still
seemed TO be waiting for export de-
velopments or for n nearer view of new
crop prospects.
Southern spot markets, "a officially
reported. we're unchanged, with e mod
crate volume of business. 10 is re-
ported that the Chinese crop is turn
ing out short this year and that China
is buying the better grades OF East
Indian cotton in Bombay. There also
were reports yesterday that Japanese
mills will increase their running time
after the end Of this month ard that
Japan had recently been buying cotton
m the Memphis territory. The trmness
Of Liverpool, however, suggested no
immediate prospect Of an easier ocean
freight situation so far as the cotton
trade Is concerned The tendency tow
ard late month premium indicates
that the domestic markets are adjust
ing themselves 10 the idea Of carrying
supplies into the new crop.
Exports yesterday were larger,
amounting 20 1880 bales, including
35.0S3 70 Great Britain and 4,s07 10 the
Continent Exports so far this season
have been 2.59S6s7 bales, against g.
22S,973 last year.
Range OF prices: