The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-15
UNCERTAIN SWING
TO COTTON PRICES
Census Distribution Figures
Produce Little Effect on
Trading Sentiment.
GOODS EXPORTS SMALL

After the usual irregularity. cotton
closed yesterday at prices showing very
little net change for the day. There
Was a decline In the forenoon and u
,,lly toward the close. Trading was
largely professional. As has been the rule
recently. and floor traders. who are gen.
srally aligned with the bear side. were
quick to cover as soon as they cav any
hardening In the undertonc.
The Census Bureau issued its report
on the consumption Of cotton by Ameri-
can mills during December. which It
placed at approximately $4,000 bales,
A new high record. against 451. 900 bales
IN December last year. The total for
the FIVE months ended December 81
vas placed at 2.532.000 bales, against
,i22,0O0 last year. The stocks Of cot
ton In manufacturing establishments
we're placed at I.so7,000 bales, against
L.3.s.o0O last year.
There has been little or no change In
the ocean freight situation. Some room
. said to have been booked out Of
Ssw York for February sailing at S2.75
per hundred, but further advances are
expected.
The amount OF cotton which moved
iutosigh, during the week was placed by
the New York Cotton Exchange 1t 3<7.-
900 bales, against $4,000 bales last
year. The total for the season is T.
$4,000. against s,ss7,o00 last year.
striking article on the expectation Of
American cotton goods appears In the
Terrible World Journal II Wa prcpa red
BY r X. MacLea, who 10 one OF the
oest known authorities In America on
textile conditions. Tho article says In
part. "our total exports OF ali manu-.
fsctures Of cotton are now close to II
per sent. Of u production. The ex-
porting OF cotton cloth. which Ia the prin-
cipsl item OF manufacture in the cotton
goods industry in this country. u. how
aver, blu 81 per cent. Of our total pro
iuoiion. Most remarkable conditions
eyist With mills consuming cotton at
a record pace We nave failed to Increase
our general exports as expected.
The fiscal year Of lsl5-1s1S probably
records the apex OF cotton goods exports
from the United States. Startling AZ
this may sound. 20 those IN the cotton
goods business II spells stop. Look
Lit'en" for II is apparent that, upon
analysis OF the various conditions exist
ing at present. buying caution will
shortly prevail.
"When We deduct what has gone ou
'or the use OF soldiers In the European
var our exports are insignificant. OK
nept as before mentioned. In underwear
and hosiery. The popular belief that We
are exporting enormous quantities OF
lotion goods Is a pardonable error. for
ak has magn!fed the real situation.
We are practically doing little more than
o7na on the bulk Of our production In
the cotton industry.
During past years, that is. before
fNe European war. our normal exports
~ cotton cloth. which Is our principal
reduction, amounted to not over 8 per
cent. OF our output. At present. takine
a bass of ten months to November l.
1915. according to last Government re-
'urns our total cloth exports have only
'rcreased 3I,705.5l3 yards. that Ia 10
say, from 3s3,649.75+ yards In 1913.
rnich 10 the last normal year for COM
rarison. to 3l,355.2S7 yards in 1915.
Ills shows less than II per cent. increase
a.. normal exports OF 1913. Thus the
gauge OF rison shows really no
Increase OF exports worthy Of msution
Of this most important item OF produc-
ION. We AVE Just shipped out OF the
country not quite four and one-half
millions Of dollars more OF all kinds o!
cotton cloth than in the same ter
months Of comparison in 1913. Apply
'7!s TO our total output and the fact
,,ands out that the apex of our expor,
xpansion Is but 81 per cent. OF our
nroAuc'ion. compared with normally
from 3 TO 3 per cent. AS exported in
recent wears"
Market closed steady.